Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 02, 2018 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | BankUnited, Inc. | |
Entity Central Index Key | 1,504,008 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock Shares Outstanding | 103,066,802 | |
Entity Current Reporting Status | Yes |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Cash and due from banks: | ||
Non-interest bearing | $ 11,644 | $ 35,246 |
Interest bearing | 268,155 | 159,336 |
Cash and cash equivalents | 279,799 | 194,582 |
Investment securities (including securities recorded at fair value of $7,217,403 and $6,680,832) | 7,227,403 | 6,690,832 |
Non-marketable equity securities | 273,427 | 265,989 |
Loans held for sale | 37,179 | 34,097 |
Loans (including covered loans of $359,767 and $503,118) | 21,919,171 | 21,416,504 |
Allowance for loan and lease losses | (124,740) | (144,795) |
Loans, net | 21,794,431 | 21,271,709 |
FDIC indemnification asset | 152,517 | 295,635 |
Bank owned life insurance | 262,987 | 252,462 |
Equipment under operating lease, net | 661,677 | 599,502 |
Goodwill and other intangible assets | 77,729 | 77,796 |
Other assets | 746,487 | 664,382 |
Total assets | 31,513,636 | 30,346,986 |
Demand deposits: | ||
Non-interest bearing | 3,413,610 | 3,071,032 |
Interest bearing | 1,587,812 | 1,757,581 |
Savings and money market | 10,588,075 | 10,715,024 |
Time Deposits | 6,715,793 | 6,334,842 |
Total deposits | 22,305,290 | 21,878,479 |
Federal Funds Purchased | 175,000 | 0 |
Federal Home Loan Bank advances | 4,946,000 | 4,771,000 |
Notes and other borrowings | 402,780 | 402,830 |
Other liabilities | 609,678 | 268,615 |
Total liabilities | 28,438,748 | 27,320,924 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Common stock, par value $0.01 per share, 400,000,000 shares authorized; 103,793,325 and 106,848,185 shares issued and outstanding | 1,037 | 1,068 |
Paid-in capital | 1,364,864 | 1,498,227 |
Retained earnings | 1,667,092 | 1,471,781 |
Accumulated other comprehensive income | 41,895 | 54,986 |
Total stockholders' equity | 3,074,888 | 3,026,062 |
Total liabilities and stockholders' equity | $ 31,513,636 | $ 30,346,986 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Investments, Fair Value Disclosure | $ 7,217,402,524 | $ 6,680,832,000 |
ASSETS | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 359,767,000 | $ 503,118,000 |
Stockholders' equity: | ||
Common stock, par value (in Dollars per Share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in Shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in Shares) | 103,793,325 | 106,848,185 |
Common stock, shares outstanding (in Shares) | 103,793,325 | 106,848,185 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest income: | ||||
Loans | $ 293,543 | $ 253,815 | $ 855,807 | $ 739,586 |
Investment Securities | 59,319 | 51,851 | 165,396 | 141,624 |
Other | 4,855 | 3,777 | 13,145 | 10,606 |
Total interest income | 357,717 | 309,443 | 1,034,348 | 891,816 |
Interest expense: | ||||
Deposits | 75,257 | 45,919 | 196,916 | 120,161 |
Borrowings | 30,492 | 22,260 | 82,392 | 60,209 |
Total interest expense | 105,749 | 68,179 | 279,308 | 180,370 |
Net interest income before provision for loan losses | 251,968 | 241,264 | 755,040 | 711,446 |
Provision for loan losses | 1,200 | 37,854 | 13,342 | 63,573 |
Net interest income after provision for loan losses | 250,768 | 203,410 | 741,698 | 647,873 |
Non-interest income: | ||||
Income from resolution of covered assets, net | 3,134 | 6,400 | 10,689 | 22,066 |
Net gain (loss) on FDIC indemnification | 3,090 | (4,838) | (1,925) | (14,174) |
Deposit service charges and fees | 3,677 | 3,251 | 10,674 | 9,706 |
Gain on sale of loans, net | 8,691 | 2,447 | 12,960 | 6,601 |
Gain on investment securities, net | 432 | 26,931 | 2,938 | 29,194 |
Lease financing | 14,091 | 13,287 | 45,685 | 40,067 |
Other non-interest income | 5,620 | 5,848 | 17,673 | 17,903 |
Total non-interest income | 38,735 | 53,326 | 98,694 | 111,363 |
Non-interest expense: | ||||
Employee compensation and benefits | 65,612 | 58,327 | 198,185 | 178,386 |
Occupancy and equipment | 18,887 | 18,829 | 56,704 | 56,689 |
Amortization of FDIC indemnification asset | 48,255 | 45,225 | 132,852 | 135,351 |
Deposit insurance expense | 5,375 | 5,764 | 14,810 | 16,827 |
Professional fees | 5,240 | 2,748 | 10,772 | 12,573 |
Telecommunications and data processing | 4,187 | 3,452 | 11,772 | 10,481 |
Depreciation of equipment under operating lease | 9,870 | 8,905 | 28,662 | 25,655 |
Other non-interest expense | 13,372 | 13,455 | 40,105 | 37,735 |
Total non-interest expense | 170,798 | 156,705 | 493,862 | 473,697 |
Income before income taxes | 118,705 | 100,031 | 346,530 | 285,539 |
Provision for income taxes | 21,377 | 32,252 | 74,067 | 89,060 |
Net income | $ 97,328 | $ 67,779 | $ 272,463 | $ 196,479 |
Earnings Per Share, Basic | $ 0.90 | $ 0.62 | $ 2.50 | $ 1.79 |
Earnings Per Share, Diluted | 0.90 | 0.62 | 2.49 | 1.79 |
Cash dividends declared per common share (in Dollars per Share) | $ 0.21 | $ 0.21 | $ 0.63 | $ 0.63 |
CONSOLIDATED STATEMENTS OF IN_2
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Provision for loan losses | $ 1,200 | $ 37,854 | $ 13,342 | $ 63,573 |
Non-interest income: | ||||
Gain on sale of loans, net | 8,691 | 2,447 | 12,960 | 6,601 |
Covered [Member] | ||||
Provision for loan losses | (50) | 261 | 517 | 2,693 |
Non-interest income: | ||||
Gain on sale of loans, net | $ 5,037 | $ 0 | $ 4,739 | $ (1,582) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 97,328 | $ 67,779 | $ 272,463 | $ 196,479 |
Unrealized gains on investment securities available for sale: | ||||
Net unrealized holding gain (loss) arising during the period | (18,147) | 8,557 | (58,577) | 32,826 |
Reclassification adjustment for net securities gains realized in income | (382) | (16,293) | (2,974) | (17,662) |
Net change in unrealized gains on securities available for sale | (18,529) | (7,736) | (61,551) | 15,164 |
Unrealized gains on derivative instruments: | ||||
Net unrealized holding gain (loss) arising during the period | 10,536 | (170) | 40,175 | (8,337) |
Reclassification adjustment for net (gains) losses realized in income | (772) | 1,210 | (617) | 4,515 |
Net change in unrealized gains on derivative instruments | 9,764 | 1,040 | 39,558 | (3,822) |
Other comprehensive income (loss) | (8,765) | (6,696) | (21,993) | 11,342 |
Comprehensive income | $ 88,563 | $ 61,083 | $ 250,470 | $ 207,821 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 272,463 | $ 196,479 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization and accretion, net | (97,064) | (71,111) |
Provision for loan losses | 13,342 | 63,573 |
Income from resolution of covered assets, net | (10,689) | (22,066) |
Net loss on FDIC indemnification | 1,925 | 14,174 |
Gain on sale of loans, net | (12,960) | (6,601) |
Gain on investment securities, net | (2,938) | (29,194) |
Equity based compensation | 18,045 | 14,337 |
Depreciation and amortization | 51,472 | 45,204 |
Deferred income taxes | 60,071 | 31,625 |
Proceeds from sale of loans held for sale | 182,330 | 126,778 |
Loans originated for sale, net of repayments | (125,509) | (109,588) |
Other: | ||
(Increase) decrease in other assets | (77,393) | 11,096 |
Increase (decrease) in other liabilities | 130,827 | (33,546) |
Net cash provided by operating activities | 403,922 | 231,160 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||
Purchase of investment securities | (2,557,757) | (2,355,872) |
Proceeds from repayments and calls of investment securities | 1,134,995 | 861,618 |
Proceeds from sale of investment securities | 938,555 | 827,353 |
Purchase of non-marketable equity securities | (235,876) | (185,718) |
Proceeds from redemption of non-marketable equity securities | 228,438 | 199,751 |
Purchases of loans | (913,840) | (949,294) |
Loan originations, repayments and resolutions, net | 320,550 | (192,075) |
Proceeds from sale of loans, net | 250,769 | 98,404 |
Proceeds from sale of equipment under operating lease | 50,902 | 3,173 |
Acquisition of equipment under operating lease | (137,305) | (77,121) |
Other investing activities | (16,548) | (14,950) |
Net cash used in investing activities | (937,117) | (1,784,731) |
Cash flows from financing activities: | ||
Net increase in deposits | 426,811 | 1,732,354 |
Increase (Decrease) in Federal Funds Purchased | 175,000 | 0 |
Additions to Federal Home Loan Bank advances | 3,847,000 | 3,921,000 |
Repayments of Federal Home Loan Bank advances | (3,672,000) | (4,290,000) |
Dividends paid | (68,911) | (68,583) |
Exercise of stock options | 7,727 | 61,519 |
Repurchase of common stock | (150,000) | 0 |
Other financing activities | 52,785 | 41,569 |
Net cash provided by financing activities | 618,412 | 1,397,859 |
Net increase (decrease) in cash and cash equivalents | 85,217 | (155,712) |
Cash and cash equivalents, beginning of period | 194,582 | 448,313 |
Cash and cash equivalents, end of period | 279,799 | 292,601 |
Supplemental Cash Flow Information [Abstract] | ||
Interest paid | 269,520 | 169,759 |
Income taxes paid, net | 21,031 | 46,320 |
Supplemental schedule of non-cash investing and financing activities: | ||
Transfers from loans to other real estate owned and other repossessed assets | 9,411 | 6,738 |
Transfers from loans to loans held for sale | 54,322 | 1,971 |
Dividends declared, not paid | 22,394 | 23,045 |
Unsettled purchases of investment securities | $ 146,503 | $ 107,500 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income |
Balance (in Shares) at Dec. 31, 2016 | 104,166,945 | ||||
Balance at Dec. 31, 2016 | $ 2,418,429 | $ 1,042 | $ 1,426,459 | $ 949,681 | $ 41,247 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 207,821 | 196,479 | 11,342 | ||
Dividends | (69,118) | (69,118) | |||
Equity based compensation (in Shares) | 618,306 | ||||
Equity based compensation | 12,109 | $ 6 | 12,103 | ||
Forfeiture of unvested shares (in Shares) | (267,457) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | $ (7,271) | $ (3) | (7,268) | ||
Exercise of stock options (in Shares) | 2,304,108 | 2,304,108 | |||
Exercise of stock options | $ 61,519 | $ 23 | 61,496 | ||
Balance (in Shares) at Sep. 30, 2017 | 106,821,902 | ||||
Balance at Sep. 30, 2017 | 2,623,489 | $ 1,068 | 1,492,790 | 1,077,042 | 52,589 |
Balance (in Shares) at Jun. 30, 2017 | 106,800,972 | ||||
Balance at Jun. 30, 2017 | 2,580,820 | $ 1,068 | 1,488,159 | 1,032,308 | 59,285 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 61,083 | 67,779 | (6,696) | ||
Dividends | (23,045) | (23,045) | |||
Equity based compensation (in Shares) | 26,307 | ||||
Equity based compensation | 4,723 | $ 0 | 4,723 | ||
Forfeiture of unvested shares (in Shares) | (5,377) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (92) | $ 0 | (92) | ||
Balance (in Shares) at Sep. 30, 2017 | 106,821,902 | ||||
Balance at Sep. 30, 2017 | 2,623,489 | $ 1,068 | 1,492,790 | 1,077,042 | 52,589 |
Cumulative Effect of New Accounting Principle in Period of Adoption | (8,902) | 8,902 | |||
Balance (in Shares) at Dec. 31, 2017 | 106,848,185 | ||||
Balance at Dec. 31, 2017 | 3,026,062 | $ 1,068 | 1,498,227 | 1,471,781 | 54,986 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 250,470 | 272,463 | (21,993) | ||
Dividends | (68,250) | (68,250) | |||
Equity based compensation (in Shares) | 666,277 | ||||
Equity based compensation | 15,409 | $ 6 | 15,403 | ||
Forfeiture of unvested shares (in Shares) | (235,719) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | $ (6,530) | $ (2) | (6,528) | ||
Exercise of stock options (in Shares) | 291,689 | 291,689 | |||
Exercise of stock options | $ 7,727 | $ 3 | 7,724 | ||
Stock Repurchased During Period, Shares | (3,777,107) | ||||
Stock Repurchased During Period, Value | (150,000) | $ (38) | (149,962) | ||
Balance (in Shares) at Sep. 30, 2018 | 103,793,325 | ||||
Balance at Sep. 30, 2018 | 3,074,888 | $ 1,037 | 1,364,864 | 1,667,092 | 41,895 |
Balance (in Shares) at Jun. 30, 2018 | 106,241,116 | ||||
Balance at Jun. 30, 2018 | 3,099,433 | $ 1,062 | 1,455,554 | 1,592,157 | 50,660 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 88,563 | 97,328 | (8,765) | ||
Dividends | (22,393) | (22,393) | |||
Equity based compensation (in Shares) | 11,857 | ||||
Equity based compensation | 5,067 | $ 0 | 5,067 | ||
Forfeiture of unvested shares (in Shares) | (27,999) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (181) | $ 0 | (181) | ||
Stock Repurchased During Period, Shares | (2,431,649) | ||||
Stock Repurchased During Period, Value | (95,601) | $ (25) | (95,576) | ||
Balance (in Shares) at Sep. 30, 2018 | 103,793,325 | ||||
Balance at Sep. 30, 2018 | $ 3,074,888 | $ 1,037 | $ 1,364,864 | $ 1,667,092 | $ 41,895 |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Basis of Presentation and Summary of Significant Accounting Policies BankUnited, Inc. is a national bank holding company with one wholly-owned subsidiary, BankUnited, collectively, the Company. BankUnited, a national banking association headquartered in Miami Lakes, Florida, provides a full range of banking and related services to individual and corporate customers through 86 banking centers located in 15 Florida counties and 5 banking centers located in the New York metropolitan area at September 30, 2018 . The Bank also offers certain commercial lending and deposit products through national platforms. In connection with the FSB Acquisition, BankUnited entered into two loss sharing agreements with the FDIC. The Loss Sharing Agreements consisted of the Single Family Shared-Loss Agreement and the Commercial Shared-Loss Agreement. Assets covered by the Loss Sharing Agreements are referred to as covered assets or, in certain cases, covered loans. The Single Family Shared-Loss Agreement provides for FDIC loss sharing and the Bank’s reimbursement for recoveries to the FDIC through May 21, 2019 for single family residential loans and OREO. Loss sharing under the Commercial Shared-Loss Agreement terminated on May 21, 2014. The Commercial Shared-Loss Agreement continued to provide for the Bank’s reimbursement of recoveries to the FDIC through June 30, 2017 for all other covered assets, including commercial real estate, commercial and industrial and consumer loans, certain investment securities and commercial OREO. Pursuant to the terms of the Loss Sharing Agreements, the covered assets are subject to a stated loss threshold whereby the FDIC will reimburse BankUnited for 80% of losses related to the covered assets up to $4.0 billion and 95% of losses in excess of this amount, beginning with the first dollar of loss incurred. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, these do not include all of the information and footnotes required for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP and should be read in conjunction with the Company’s consolidated financial statements and the notes thereto appearing in BKU’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected in future periods. Certain amounts presented for prior periods have been reclassified to conform to the current period presentation. Accounting Estimates In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and disclosures of contingent assets and liabilities. Actual results could differ significantly from these estimates. Significant estimates include the ALLL, the amount and timing of expected cash flows from covered assets and the FDIC indemnification asset, the fair values of investment securities and other financial instruments and uncertain tax positions. Management has used information provided by third party valuation specialists to assist in the determination of the fair values of investment securities. New Accounting Pronouncements Adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), superseded the revenue recognition requirements in Topic 605, Revenue Recognition , and most industry-specific revenue recognition guidance throughout the Accounting Standards Codification. The amendments in this update affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets unless those contracts are within the scope of other standards. The amendments establish a core principle requiring the recognition of revenue to depict the transfer of goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for such goods or services and require expanded disclosure about revenue from contracts with customers that are within the scope of the standard. Revenue from financial instruments and lease contracts are generally outside the scope of Topic 606 as are revenues that are in the scope of ASC 860 "Transfers and Servicing", ASC 460 "Guarantees" and ASC 815 "Derivatives and Hedging". The Company adopted this standard in the first quarter of 2018 with respect to contracts not completed on the date of adoption using the modified retrospective transition method. Substantially all of the Company's revenues are generated from activities outside the scope of Topic 606; existing revenue recognition policies for contracts with customers that are within the scope of the standard are consistent with the principles in Topic 606. Therefore, there was no impact at adoption to the Company's consolidated financial position, results of operations, or cash flows. ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in the ASU addressed certain aspects of recognition, measurement, presentation and disclosure of certain financial instruments. The main provisions of this ASU that are applicable to the Company are to (1) eliminate the available for sale classification for equity securities and require investments in equity securities (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, provided that equity investments that do not have readily determinable fair values may be re-measured at fair value upon occurrence of an observable price change or recognition of impairment, (2) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, and (3) require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. The amendments also clarified that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available for sale securities in combination with the entity's other deferred tax assets, which is consistent with the Company's previous practice. The Company adopted this ASU in the first quarter of 2018 using the modified retrospective transition method. The cumulative effect adjustment to reclassify unrealized gains on equity securities from AOCI to retained earnings totaled $ 2.2 million , net of tax, at adoption. Unrealized losses on equity securities recognized in earnings totaled $0.1 million and $1.1 million , respectively, for the three and nine months ended September 30, 2018 . ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This amendment provided guidance on eight specific cash flow classification issues where there had been diversity in practice. The provisions of this ASU that are expected to be applicable to the Company include requirements to: (1) classify cash payments for debt prepayment or extinguishment costs to be classified as cash outflows for financing activities, (2) classify proceeds from settlement of insurance claims on the basis of the nature of the loss and (3) require cash payments from settlement of bank-owned life insurance policies to be classified as cash flows from investing activities. The Company adopted this ASU for the first quarter of 2018; the provisions of the ASU were generally consistent with the Company's existing practice, therefore, adoption did not have an impact on the Company's consolidated cash flows. ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The amendments in this ASU allowed a reclassification from AOCI to retained earnings of stranded tax effects in AOCI resulting from enactment of the TCJA that reduced the statutory federal tax rate from 35 percent to 21 percent. The Company’s existing accounting policy was to release stranded tax effects only when the entire portfolio of the type of item that created them is liquidated. This ASU was early adopted effective January 1, 2018 and a cumulative-effect adjustment was recorded to reclassify stranded tax effects totaling $11.1 million from AOCI to retained earnings. ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement . The amendments in this ASU modified the disclosure requirements on fair value measurements by removing certain disclosures not considered cost beneficial, clarifying certain disclosure requirements and adding some additional disclosures. The provisions of the ASU that are applicable to the fair value disclosures of the Company include: (1) adding disclosure of the changes in unrealized gains and losses for the period included in other comprehensive income for recurring level 3 fair value measurements, (2) adding the range and weighted average of significant unobservable inputs used to develop level 3 fair value measurements, (3) removing the requirement to disclose the amount of and reasons for transfers between level 1 and level 2 of the fair value hierarchy, (4) removing the requirement to disclose the policy for timing of transfers between levels of the fair value hierarchy, and (5) removing disclosure of the valuation processes for level 3 fair value measurements. The Company early adopted this ASU for the third quarter of 2018. ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) . The amendments in this ASU require customers in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to capitalize certain implementation costs in the same manner as software developed for internal use. The guidance allows for qualifying costs incurred during the application and development stage to be capitalized, which may include: (1) integration, (2) customization, (3) configuration, (4) installation, (5) architecture and design, (6) coding, and (7) testing. Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the applicable component of the hosting arrangement is ready for its intended use. The accounting for the cost of the hosting component of the arrangement is not affected by this ASU. The Company early adopted this ASU in the third quarter of 2018 using the prospective transition approach with no significant impact to the Company's consolidated financial position, results of operations, or cash flows. Recent Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this ASU require a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for leases with terms longer than one year. Accounting applied by lessors is largely unchanged by this ASU. The ASU also will require both qualitative and quantitative disclosures that provide additional information about the amounts recorded in the consolidated financial statements. The amendments in this ASU are effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2018. Early adoption is permitted; however, the Company does not intend to early adopt this ASU. The most significant impact of adoption is expected to be the recognition, as lessee, of new right-of-use assets and lease liabilities on the Consolidated Balance Sheet for real estate leases currently classified as operating leases. Under a package of practical expedients that the Company plans to elect, the Company will not be required to (i) re-assess whether expired or existing contracts contain leases, (ii) re-assess the classification of expired or existing leases, (iii) re-evaluate initial direct costs for existing leases or (iv) separate lease components of certain contracts from non-lease components. The Company also plans to elect the transition method that allows entities the option of applying the provisions of the ASU at the effective date without adjusting the comparative periods presented. Management is in the process of finalizing its evaluation of the impact of adoption of this ASU on its processes and controls. The Company has completed its review of contractual arrangements for embedded leases. The Company has acquired and implemented software to facilitate calculation and reporting of the lease liability and right-of-use asset. Certain accounting policy decisions have been made including use of the incremental borrowing rate to determine the discount rate and assumptions around inclusion of renewals in lease terms. Based on the population of lease contracts existing at September 30, 2018 and an incremental borrowing rate determined as of that date, the Company estimates that a lease liability and related right-of-use asset of approximately $100 million and $90 million , respectively, will be recognized on adoption at January 1, 2019. The amounts actually recognized will be based on terms of contracts in place and an incremental borrowing rate determined at the date of adoption. The Company does not expect the impact of adoption to be material to its consolidated results of operations or cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments. The ASU introduces new guidance which makes substantive changes to the accounting for credit losses. The ASU introduces the CECL model which applies to financial assets subject to credit losses and measured at amortized cost, as well as certain off-balance sheet credit exposures. This includes loans, loan commitments, standby letters of credit, net investments in leases recognized by a lessor and HTM debt securities. The CECL model requires an entity to estimate credit losses expected over the life of an exposure, considering information about historical events, current conditions and reasonable and supportable forecasts, and is generally expected to result in earlier recognition of credit losses. The ASU also modifies certain provisions of the current OTTI model for AFS debt securities. Credit losses on AFS debt securities will be limited to the difference between the security's amortized cost basis and its fair value, and will be recognized through an allowance for credit losses rather than as a direct reduction in amortized cost basis. The ASU also provides for a simplified accounting model for purchased financial assets with more than insignificant credit deterioration since their origination. The ASU requires expanded disclosures including, but not limited to, (i) information about the methods and assumptions used to estimate expected credit losses, including changes in the factors that influenced management's estimate and the reasons for those changes, (ii) for financing receivables and net investment in leases measured at amortized cost, further disaggregation of information about the credit quality of those assets and (iii) a rollforward of the allowance for credit losses for AFS and HTM securities. The amendments in this ASU are effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2019. Early adoption is permitted; however, the Company does not intend to early adopt this ASU. Management is in the process of evaluating the impact of adoption of this ASU on its consolidated financial statements, processes and controls and is not currently able to reasonably estimate the impact of adoption on the Company's consolidated financial position, results of operations or cash flows; however, adoption is likely to lead to significant changes in accounting policies related to, and the methods employed in estimating, the ALLL. It is possible that the impact will be material to the Company's consolidated financial position and results of operations. To date, the Company has completed a gap analysis, adopted and is in the process of executing a detailed implementation plan, established a formal governance structure, selected and implemented credit loss models for key portfolio segments, chosen loss estimation methodologies for key portfolio segments, and is implementing a software solution to serve as its CECL platform. In October 2018, the FASB issued ASU No. 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes . The ASU adds the Overnight Index Swap (OIS) rate based on Secured Overnight Financing Rate (SOFR) as a benchmark interest rate for hedge accounting purposes. The ASU is effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2018. The Company does not expect the impact of adoption to be material to its consolidated financial position, results of operations, or cash flows. Revenue From Contracts with Customers Revenue from contracts with customers within the scope of Topic 606 " Revenue from Contracts with Customers ", is recognized in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services as the related performance obligations are satisfied. The majority of our revenues, including revenues from loans, leases, investment securities, derivative instruments and letters of credit and from transfers and servicing of financial assets, are excluded from the scope of Topic 606. Deposit service charges and fees is the most significant category of revenue within the scope of the standard. These service charges and fees consist primarily of monthly maintenance fees and other transaction based fees. Revenue is recognized when our performance obligations are complete, generally monthly for account maintenance fees or when a transaction, such as a wire transfer, is completed. Payment is typically received at the time the performance obligation is satisfied. The aggregate amount of revenue that is within the scope of Topic 606 from sources other than deposit service charges and fees is not material. Investment Securities Investment securities include debt securities and marketable equity securities. Debt securities that the Company has the positive intent and ability to hold to maturity are classified as held to maturity and reported at amortized cost. Debt securities that the Company may not have the intent to hold to maturity are classified as available for sale at the time of acquisition and carried at fair value with unrealized gains and losses, net of tax, excluded from earnings and reported in AOCI. Marketable equity securities with readily determinable fair values are reported at fair value with unrealized gains and losses included in earnings. Equity securities that do not have readily determinable fair values are reported at cost and re-measured at fair value upon occurrence of an observable price change or recognition of impairment. |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings Per Common Share The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, c 2018 2017 2018 2017 Basic earnings per common share: Numerator: Net income $ 97,328 $ 67,779 $ 272,463 $ 196,479 Distributed and undistributed earnings allocated to participating securities (3,771 ) (2,525 ) (10,444 ) (7,331 ) Income allocated to common stockholders for basic earnings per common share $ 93,557 $ 65,254 $ 262,019 $ 189,148 Denominator: Weighted average common shares outstanding 105,063,770 106,809,381 105,914,807 106,488,396 Less average unvested stock awards (1,178,982 ) (1,101,485 ) (1,170,209 ) (1,102,381 ) Weighted average shares for basic earnings per common share 103,884,788 105,707,896 104,744,598 105,386,015 Basic earnings per common share $ 0.90 $ 0.62 $ 2.50 $ 1.79 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 93,557 $ 65,254 $ 262,019 $ 189,148 Adjustment for earnings reallocated from participating securities 13 6 37 21 Income used in calculating diluted earnings per common share $ 93,570 $ 65,260 $ 262,056 $ 189,169 Denominator: Weighted average shares for basic earnings per common share 103,884,788 105,707,896 104,744,598 105,386,015 Dilutive effect of stock options and executive share-based awards 499,431 365,286 512,801 479,459 Weighted average shares for diluted earnings per common share 104,384,219 106,073,182 105,257,399 105,865,474 Diluted earnings per common share $ 0.90 $ 0.62 $ 2.49 $ 1.79 Included in participating securities above are unvested shares and 3,023,314 dividend equivalent rights outstanding at September 30, 2018 that were issued in conjunction with the IPO of the Company's common stock. These dividend equivalent rights expire in 2021 and participate in dividends on a one-for-one basis. The following potentially dilutive securities were outstanding at September 30, 2018 and 2017 , but excluded from the calculation of diluted earnings per common share for the periods indicated because their inclusion would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Unvested shares and share units 1,639,183 1,111,300 1,639,183 1,111,300 Stock options and warrants 1,850,279 1,850,279 1,850,279 1,850,279 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities Investment securities include investment securities available for sale, marketable equity securities, and investment securities held to maturity. The investment securities available for sale portfolio consisted of the following at the dates indicated (in thousands): September 30, 2018 Amortized Cost Gross Unrealized Fair Value Gains Losses Investment securities available for sale: U.S. Treasury securities $ 34,874 $ — $ (28 ) $ 34,846 U.S. Government agency and sponsored enterprise residential MBS 1,916,210 19,275 (5,655 ) 1,929,830 U.S. Government agency and sponsored enterprise commercial MBS 240,393 734 (1,997 ) 239,130 Private label residential MBS and CMOs 1,016,659 10,096 (18,215 ) 1,008,540 Private label commercial MBS 1,167,228 6,374 (5,729 ) 1,167,873 Single family rental real estate-backed securities 525,061 327 (5,268 ) 520,120 Collateralized loan obligations 1,186,639 1,527 (839 ) 1,187,327 Non-mortgage asset-backed securities 208,674 1,119 (2,635 ) 207,158 State and municipal obligations 426,686 2,640 (6,551 ) 422,775 SBA securities 425,388 7,017 (625 ) 431,780 Other debt securities 1,560 4,104 — 5,664 $ 7,149,372 $ 53,213 $ (47,542 ) $ 7,155,043 December 31, 2017 Amortized Cost Gross Unrealized Fair Value Gains Losses Investment securities available for sale: U.S. Treasury securities $ 24,981 $ — $ (28 ) $ 24,953 U.S. Government agency and sponsored enterprise residential MBS 2,043,373 16,094 (1,440 ) 2,058,027 U.S. Government agency and sponsored enterprise commercial MBS 233,522 1,330 (344 ) 234,508 Private label residential MBS and CMOs 613,732 16,473 (1,958 ) 628,247 Private label commercial MBS 1,033,022 13,651 (258 ) 1,046,415 Single family rental real estate-backed securities 559,741 3,823 (858 ) 562,706 Collateralized loan obligations 720,429 3,252 — 723,681 Non-mortgage asset-backed securities 119,939 1,808 — 121,747 Marketable equity securities 59,912 3,631 — 63,543 State and municipal obligations 640,511 17,606 (914 ) 657,203 SBA securities 534,534 16,208 (60 ) 550,682 Other debt securities 4,090 5,030 — 9,120 $ 6,587,786 $ 98,906 $ (5,860 ) $ 6,680,832 Marketable equity securities, recorded at fair value, totaled $62.4 million and $63.5 million , at September 30, 2018 and December 31, 2017 , respectively. Investment securities held to maturity at September 30, 2018 and December 31, 2017 consisted of one State of Israel bond with a carrying value of $10 million maturing in 2024. Fair value approximated carrying value at September 30, 2018 and December 31, 2017 . At September 30, 2018 , contractual maturities of investment securities available for sale, adjusted for anticipated prepayments of mortgage-backed and other pass-through securities, were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 757,130 $ 759,520 Due after one year through five years 3,551,176 3,556,350 Due after five years through ten years 2,457,655 2,453,558 Due after ten years 383,411 385,615 $ 7,149,372 $ 7,155,043 Based on the Company’s assumptions, the estimated weighted average life of the investment portfolio as of September 30, 2018 was 4.7 years. The effective duration of the investment portfolio as of September 30, 2018 was 1.5 years. The model results are based on assumptions that may differ from actual results. The carrying value of securities pledged as collateral for FHLB advances, public deposits, interest rate swaps and to secure borrowing capacity at the FRB totaled $2.2 billion and $2.6 billion at September 30, 2018 and December 31, 2017 , respectively. The following table provides information about gains and losses on investment securities for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Proceeds from sale of investment securities available for sale $ 102,238 $ 399,430 $ 938,555 $ 827,353 Gross realized gains: Investment securities available for sale $ 521 $ 28,261 $ 6,561 $ 30,553 Gross realized losses: Investment securities available for sale — (1,330 ) (2,514 ) (1,359 ) Net realized gain 521 26,931 4,047 29,194 Net unrealized losses on marketable equity securities recognized in earnings (89 ) — (1,109 ) — Gain on investment securities, net $ 432 $ 26,931 $ 2,938 $ 29,194 The following tables present the aggregate fair value and the aggregate amount by which amortized cost exceeded fair value for investment securities available for sale in unrealized loss positions, aggregated by investment category and length of time that individual securities had been in continuous unrealized loss positions at the dates indicated (in thousands): September 30, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 34,846 $ (28 ) $ — $ — $ 34,846 $ (28 ) U.S. Government agency and sponsored enterprise residential MBS 478,707 (4,139 ) 39,045 (1,516 ) 517,752 (5,655 ) U.S. Government agency and sponsored enterprise commercial MBS 121,004 (1,524 ) 7,004 (473 ) 128,008 (1,997 ) Private label residential MBS and CMOs 800,549 (16,545 ) 45,644 (1,670 ) 846,193 (18,215 ) Private label commercial MBS 181,266 (3,999 ) 31,092 (1,730 ) 212,358 (5,729 ) Single family rental real estate-backed securities 293,384 (4,833 ) 13,129 (435 ) 306,513 (5,268 ) Collateralized loan obligations 335,018 (839 ) — — 335,018 (839 ) Non-mortgage asset-backed securities 178,454 (2,635 ) — — 178,454 (2,635 ) State and municipal obligations 275,664 (6,040 ) 16,110 (511 ) 291,774 (6,551 ) SBA securities 116,748 (591 ) 13,399 (34 ) 130,147 (625 ) $ 2,815,640 $ (41,173 ) $ 165,423 $ (6,369 ) $ 2,981,063 $ (47,542 ) December 31, 2017 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 24,953 $ (28 ) $ — $ — $ 24,953 $ (28 ) U.S. Government agency and sponsored enterprise residential MBS 471,120 (1,141 ) 13,028 (299 ) 484,148 (1,440 ) U.S. Government agency and sponsored enterprise commercial MBS 26,265 (344 ) — — 26,265 (344 ) Private label residential MBS and CMOs 330,068 (1,858 ) 5,083 (100 ) 335,151 (1,958 ) Private label commercial MBS 81,322 (258 ) — — 81,322 (258 ) Single family rental real estate-backed securities 94,750 (858 ) — — 94,750 (858 ) State and municipal obligations 30,715 (49 ) 60,982 (865 ) 91,697 (914 ) SBA securities 21,300 (10 ) 15,427 (50 ) 36,727 (60 ) $ 1,080,493 $ (4,546 ) $ 94,520 $ (1,314 ) $ 1,175,013 $ (5,860 ) The Company monitors its investment securities available for sale for OTTI on an individual security basis. No securities were determined to be other-than-temporarily impaired during the nine months ended September 30, 2018 or 2017 . The Company does not intend to sell securities that are in significant unrealized loss positions at September 30, 2018 and it is not more likely than not that the Company will be required to sell these securities before recovery of the amortized cost basis, which may be at maturity. At September 30, 2018 , 175 securities were in unrealized loss positions. The amount of impairment related to 35 of these securities was considered insignificant both individually and in the aggregate, totaling approximately $297 thousand and no further analysis with respect to these securities was considered necessary. The basis for concluding that impairment of the remaining securities was not other-than-temporary is further described below: U.S. Treasury Securities At September 30, 2018 , one U.S. Treasury security was in an unrealized loss position. Impairment of this security was primarily attributable to increases in market interest rates subsequent to the date of acquisition. The timely payment of principal and interest on this security is explicitly guaranteed by the U.S. Government. Given the expectation of timely payment of principal and interest the impairment was considered to be temporary. U.S. Government agency and sponsored enterprise residential and commercial MBS At September 30, 2018 , forty-three U.S. Government agency and sponsored enterprise residential MBS and five U.S. Government agency and sponsored enterprise commercial MBS were in unrealized loss positions. Impairment of these securities was primarily attributable to increases in market interest rates subsequent to the date of acquisition. The timely payment of principal and interest on these securities is explicitly or implicitly guaranteed by the U.S. Government. Given the expectation of timely payment of principal and interest the impairments were considered to be temporary. Private label residential MBS and CMOs At September 30, 2018 , thirty-three private label residential MBS and CMOs were in unrealized loss positions, primarily as a result of an increase in medium and long-term market interest rates subsequent to acquisition. These securities were assessed for OTTI using credit and prepayment behavioral models that incorporate CUSIP level constant default rates, voluntary prepayment rates and loss severity and delinquency assumptions. The results of these assessments were not indicative of credit losses related to any of these securities as of September 30, 2018 . Given the expectation of timely recovery of outstanding principal the impairments were considered to be temporary. Private label commercial MBS At September 30, 2018 , fourteen private label commercial MBS were in unrealized loss positions, primarily as a result of an increase in market interest rates. These securities were assessed for OTTI using credit and prepayment behavioral models incorporating assumptions consistent with the collateral characteristics of each security. The results of this analysis were not indicative of expected credit losses. Given the expectation of timely recovery of outstanding principal the impairments were considered to be temporary. Single family rental real estate-backed securities At September 30, 2018 , ten single family rental real estate-backed securities were in unrealized loss positions. The unrealized losses were primarily due to increases in market interest rates since the purchase of the securities. Management's analysis of the credit characteristics, including loan-to-value and debt service coverage ratios, and levels of subordination for each of the securities is not indicative of projected credit losses. Given the absence of projected credit losses the impairments were considered to be temporary. Collateralized loan obligations: At September 30, 2018 , six collateralized loan obligations were in unrealized loss positions. The amount of impairment of each of the individual securities was less than 1% of amortized cost. These securities were assessed for OTTI using credit and prepayment behavioral models incorporating assumptions consistent with the collateral characteristics of each security. The results of this analysis were not indicative of expected credit losses. Given the limited severity of impairment and the expectation of timely recovery of outstanding principal, the impairments were considered to be temporary. Non-mortgage asset-backed securities At September 30, 2018 , seven non-mortgage asset-backed securities were in unrealized loss positions, due primarily to increases in market interest rates subsequent to the date of acquisition. The amount of impairment each of the individual securities was 3% or less of amortized cost. These securities were assessed for OTTI using credit and prepayment behavioral models incorporating assumptions consistent with the collateral characteristics of each security. The results of this analysis were not indicative of expected credit losses. Given the limited severity of impairment and the expectation of timely recovery of outstanding principal, the impairment were considered to be temporary. State and municipal obligations At September 30, 2018 , seventeen state and municipal obligations were in unrealized loss positions. The impairments are primarily attributable to increases in market interest rates and changes in statutory tax rates. All of the securities are rated investment grade by nationally recognized statistical ratings organizations. Management's evaluation of these securities for OTTI also encompassed the review of credit scores and analysis provided by a third party firm specializing in the analysis and credit review of municipal securities. Given the absence of expected credit losses, the impairments were considered to be temporary. SBA Securities At September 30, 2018 , four SBA securities were in unrealized loss positions. The amount of impairment of each of these securities was less than 1% of amortized cost. These securities were purchased at a premium and the impairment was attributable primarily to increased prepayment speeds. The timely payment of principal and interest on these securities is guaranteed by this U.S. Government agency. Given the limited severity of impairment and the expectation of timely payment of principal and interest, the impairments were considered to be temporary. |
Loans and Allowance for Loan an
Loans and Allowance for Loan and Lease Losses | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans and Allowance for Loan and Lease Losses | Loans and Allowance for Loan and Lease Losses The Company segregates its loan portfolio between covered and non-covered loans. Non-covered loans include loans originated since the FSB acquisition and commercial and consumer loans acquired in the FSB acquisition for which loss share coverage has terminated. Covered loans are further segregated between ACI and non-ACI loans. Loans consisted of the following at the dates indicated (dollars in thousands): September 30, 2018 Covered Loans Percent of Total Non-Covered Loans ACI Non-ACI Total Residential and other consumer: 1-4 single family residential $ 4,322,915 $ 344,078 $ 18,779 $ 4,685,772 21.4 % Government insured residential 163,241 — — 163,241 0.7 % Home equity loans and lines of credit 1,715 — — 1,715 — % Other consumer loans 16,796 — — 16,796 0.1 % 4,504,667 344,078 18,779 4,867,524 22.2 % Commercial: Multi-family 2,760,856 — — 2,760,856 12.6 % Non-owner occupied commercial real estate 4,579,278 — — 4,579,278 21.0 % Construction and land 245,077 — — 245,077 1.1 % Owner occupied commercial real estate 2,094,371 — — 2,094,371 9.6 % Commercial and industrial 4,720,532 — — 4,720,532 21.6 % Commercial lending subsidiaries 2,611,920 — — 2,611,920 11.9 % 17,012,034 — — 17,012,034 77.8 % Total loans 21,516,701 344,078 18,779 21,879,558 100.0 % Premiums, discounts and deferred fees and costs, net 42,703 — (3,090 ) 39,613 Loans including premiums, discounts and deferred fees and costs 21,559,404 344,078 15,689 21,919,171 Allowance for loan and lease losses (124,726 ) — (14 ) (124,740 ) Loans, net $ 21,434,678 $ 344,078 $ 15,675 $ 21,794,431 December 31, 2017 Covered Loans Percent of Total Non-Covered Loans ACI Non-ACI Total Residential and other consumer: 1-4 single family residential $ 4,089,994 $ 479,068 $ 27,198 $ 4,596,260 21.5 % Government insured residential 26,820 — — 26,820 0.1 % Home equity loans and lines of credit 1,654 — — 1,654 — % Other consumer loans 20,512 — — 20,512 0.1 % 4,138,980 479,068 27,198 4,645,246 21.7 % Commercial: Multi-family 3,215,697 — — 3,215,697 15.0 % Non-owner occupied commercial real estate 4,485,276 — — 4,485,276 21.0 % Construction and land 310,999 — — 310,999 1.5 % Owner occupied commercial real estate 2,014,908 — — 2,014,908 9.4 % Commercial and industrial 4,145,785 — — 4,145,785 19.4 % Commercial lending subsidiaries 2,553,576 — — 2,553,576 12.0 % 16,726,241 — — 16,726,241 78.3 % Total loans 20,865,221 479,068 27,198 21,371,487 100.0 % Premiums, discounts and deferred fees and costs, net 48,165 — (3,148 ) 45,017 Loans including premiums, discounts and deferred fees and costs 20,913,386 479,068 24,050 21,416,504 Allowance for loan and lease losses (144,537 ) — (258 ) (144,795 ) Loans, net $ 20,768,849 $ 479,068 $ 23,792 $ 21,271,709 Included in non-covered loans above are $27 million and $34 million at September 30, 2018 and December 31, 2017 , respectively, of ACI commercial loans acquired in the FSB Acquisition. Through two subsidiaries, the Bank provides commercial and municipal equipment and franchise financing utilizing both loan and lease structures. At September 30, 2018 and December 31, 2017 , the commercial lending subsidiaries portfolio included a net investment in direct financing leases of $764 million and $738 million , respectively. During the three and nine months ended September 30, 2018 and 2017 , the Company purchased 1-4 single family residential loans totaling $310 million , $914 million , $312 million and $949 million , respectively. Purchases for the three and nine months ended September 30, 2018 included $90 million and $201 million , respectively, of government insured residential loans. At September 30, 2018 , the Company had pledged real estate loans with UPB of approximately $10.2 billion and recorded investment of approximately $9.9 billion as security for FHLB advances. At September 30, 2018 and December 31, 2017 , the UPB of ACI loans was $0.7 billion and $1.1 billion , respectively. The accretable yield on ACI loans represents the amount by which undiscounted expected future cash flows exceed recorded investment. Changes in the accretable yield on ACI loans for the nine months ended September 30, 2018 and the year ended December 31, 2017 were as follows (in thousands): Balance at December 31, 2016 $ 675,385 Reclassifications from non-accretable difference, net 81,501 Accretion (301,827 ) Balance at December 31, 2017 455,059 Reclassifications from non-accretable difference, net 78,561 Accretion (249,609 ) Balance at September 30, 2018 $ 284,011 Covered loan sales During the periods indicated, the Company sold covered residential loans to third parties on a non-recourse basis. The following table summarizes the impact of these transactions (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2018 2017 UPB of loans sold $ 154,415 $ 279,764 $ 123,737 Cash proceeds, net of transaction costs $ 129,144 $ 238,773 $ 98,404 Recorded investment in loans sold 124,107 234,034 99,986 Gain (loss) on sale of covered loans, net $ 5,037 $ 4,739 $ (1,582 ) Gain on FDIC indemnification, net $ 5,449 $ 5,692 $ 1,266 There was no sale of covered loans for the three months ended September 30, 2017. Allowance for loan and lease losses Activity in the ALLL is summarized as follows for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Unallocated Total Beginning balance $ 10,338 $ 124,633 $ 134,971 $ 13,550 $ 142,098 $ — $ 155,648 Provision for (recovery of) loan losses: Covered loans (50 ) — (50 ) 268 (7 ) — 261 Non-covered loans 290 960 1,250 363 32,230 5,000 37,593 Total provision 240 960 1,200 631 32,223 5,000 37,854 Charge-offs: . Covered loans (740 ) — (740 ) — — — — Non-covered loans — (12,340 ) (12,340 ) — (36,028 ) — (36,028 ) Total charge-offs (740 ) (12,340 ) (13,080 ) — (36,028 ) — (36,028 ) Recoveries: Covered loans 214 — 214 31 7 — 38 Non-covered loans 251 1,184 1,435 8 1,053 — 1,061 Total recoveries 465 1,184 1,649 39 1,060 — 1,099 Ending balance $ 10,303 $ 114,437 $ 124,740 $ 14,220 $ 139,353 $ 5,000 $ 158,573 Nine Months Ended September 30, 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Unallocated Total Beginning balance $ 10,720 $ 134,075 $ 144,795 $ 11,503 $ 141,450 $ — $ 152,953 Provision for (recovery of) loan losses: Covered loans 517 — 517 2,738 (45 ) — 2,693 Non-covered loans (183 ) 13,008 12,825 (52 ) 55,932 5,000 60,880 Total provision 334 13,008 13,342 2,686 55,887 5,000 63,573 Charge-offs: Covered loans (979 ) — (979 ) (55 ) — — (55 ) Non-covered loans (265 ) (34,736 ) (35,001 ) — (61,034 ) — (61,034 ) Total charge-offs (1,244 ) (34,736 ) (35,980 ) (55 ) (61,034 ) — (61,089 ) Recoveries: Covered loans 218 — 218 65 45 — 110 Non-covered loans 275 2,090 2,365 21 3,005 — 3,026 Total recoveries 493 2,090 2,583 86 3,050 — 3,136 Ending balance $ 10,303 $ 114,437 $ 124,740 $ 14,220 $ 139,353 $ 5,000 $ 158,573 The following table presents information about the balance of the ALLL and related loans at the dates indicated (in thousands): September 30, 2018 December 31, 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Allowance for loan and lease losses: Ending balance $ 10,303 $ 114,437 $ 124,740 $ 10,720 $ 134,075 $ 144,795 Covered loans: Ending balance $ 14 $ — $ 14 $ 258 $ — $ 258 Ending balance: non-ACI loans individually evaluated for impairment $ 14 $ — $ 14 $ 118 $ — $ 118 Ending balance: non-ACI loans collectively evaluated for impairment $ — $ — $ — $ 140 $ — $ 140 Non-covered loans: Ending balance $ 10,289 $ 114,437 $ 124,726 $ 10,462 $ 134,075 $ 144,537 Ending balance: loans individually evaluated for impairment $ 143 $ 23,050 $ 23,193 $ 63 $ 18,776 $ 18,839 Ending balance: loans collectively evaluated for impairment $ 10,146 $ 91,387 $ 101,533 $ 10,399 $ 115,299 $ 125,698 Loans: Covered loans: Ending balance $ 359,767 $ — $ 359,767 $ 503,118 $ — $ 503,118 Ending balance: non-ACI loans individually evaluated for impairment $ 956 $ — $ 956 $ 2,221 $ — $ 2,221 Ending balance: non-ACI loans collectively evaluated for impairment $ 14,733 $ — $ 14,733 $ 21,829 $ — $ 21,829 Ending balance: ACI loans $ 344,078 $ — $ 344,078 $ 479,068 $ — $ 479,068 Non-covered loans: Ending balance $ 4,563,578 $ 16,995,826 $ 21,559,404 $ 4,196,080 $ 16,717,306 $ 20,913,386 Ending balance: loans, other than ACI loans, individually evaluated for impairment $ 6,218 $ 191,340 $ 197,558 $ 1,234 $ 173,706 $ 174,940 Ending balance: loans, other than ACI loans, collectively evaluated for impairment $ 4,557,360 $ 16,777,108 $ 21,334,468 $ 4,194,846 $ 16,509,824 $ 20,704,670 Ending balance: ACI loans $ — $ 27,378 $ 27,378 $ — $ 33,776 $ 33,776 Credit quality information Loans other than ACI loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due, according to the contractual terms of the loan agreements. Commercial relationships on non-accrual status with committed balances greater than or equal to $1.0 million that have internal risk ratings of substandard or doubtful, as well as loans that have been modified in TDRs, are individually evaluated for impairment. Other commercial relationships on non-accrual status with committed balances under $1.0 million may also be evaluated individually for impairment, at management's discretion. The likelihood of loss related to loans assigned internal risk ratings of substandard or doubtful is considered elevated due to their identified credit weaknesses. Factors considered by management in evaluating impairment include payment status, financial condition of the borrower, collateral value, and other factors impacting the probability of collecting scheduled principal and interest payments when due. ACI loans or pools are considered to be impaired when it is probable that the Company will be unable to collect all of the expected cash flows at acquisition (as adjusted for any additional cash flows expected to be collected arising from changes in estimates after acquisition), other than due to changes in interest rate indices and prepayment assumptions. The table below presents information about loans or ACI pools identified as impaired at the dates indicated (in thousands): September 30, 2018 December 31, 2017 Recorded Investment UPB Related Specific Allowance Recorded Investment UPB Related Specific Allowance Non-covered loans: With no specific allowance recorded: 1-4 single family residential (1) $ 4,241 $ 4,138 $ — $ 120 $ 122 $ — Multi-family 6,549 6,580 — — — — Non-owner occupied commercial real estate 14,049 13,965 — 10,922 10,838 — Construction and land 10,166 10,169 — 1,175 1,175 — Owner occupied commercial real estate 9,860 9,858 — 22,002 22,025 — Commercial and industrial Taxi medallion loans 10,586 10,585 — 13,560 13,559 — Other commercial and industrial 16,786 16,795 — 345 374 — Commercial lending subsidiaries 1,923 1,920 — — — — With a specific allowance recorded: 1-4 single family residential (1) 1,977 1,952 143 1,114 1,090 63 Multi-family 19,280 19,281 3,144 23,173 23,175 1,732 Owner occupied commercial real estate 2,768 2,768 5 3,075 3,079 2,960 Non-owner occupied commercial real estate 1,689 1,690 240 — — — Commercial and industrial Taxi medallion loans 69,569 69,570 10,957 92,507 92,508 12,214 Other commercial and industrial 6,996 6,998 1,705 3,626 3,624 1,540 Commercial lending subsidiaries 21,119 21,029 6,999 3,321 3,296 330 Total: Residential and other consumer $ 6,218 $ 6,090 $ 143 $ 1,234 $ 1,212 $ 63 Commercial 191,340 191,208 23,050 173,706 173,653 18,776 $ 197,558 $ 197,298 $ 23,193 $ 174,940 $ 174,865 $ 18,839 Covered loans: Non-ACI loans: With no specific allowance recorded: 1-4 single family residential $ — $ — $ — $ 1,061 $ 1,203 $ — With a specific allowance recorded: 1-4 single family residential 956 1,145 14 1,160 1,314 118 $ 956 $ 1,145 $ 14 $ 2,221 $ 2,517 $ 118 (1) Includes government insured residential loans at September 30, 2018 and December 31, 2017 . Interest income recognized on impaired loans and pools was insignificant for the three and nine months ended September 30, 2018 and approximately $2.9 million and $8.3 million for the three and nine months ended September 30, 2017 . The following table presents the average recorded investment in impaired loans for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Non-Covered Loans Covered Non-ACI Loans Non-Covered Loans Covered Non-ACI Residential and other consumer: 1-4 single family residential $ 5,745 $ 1,906 $ 962 $ 2,304 Home equity loans and lines of credit — — — 9,533 5,745 $ 1,906 962 $ 11,837 Commercial: Multi-family 26,041 1,359 Non-owner occupied commercial real estate 14,577 8,216 Construction and land 7,766 2,797 Owner occupied commercial real estate 14,004 20,579 Commercial and industrial Taxi medallion loans 83,683 123,867 Other commercial and industrial 22,179 42,479 Commercial lending subsidiaries 12,562 21,398 180,812 220,695 $ 186,557 $ 221,657 Nine Months Ended September 30, 2018 2017 Non-Covered Loans Covered Non-ACI Loans Non-Covered Loans Covered Non-ACI Residential and other consumer: 1-4 single family residential $ 4,228 $ 2,164 $ 800 $ 2,369 Home equity loans and lines of credit — — — 9,638 4,228 $ 2,164 800 $ 12,007 Commercial: Multi-family 25,674 1,816 Non-owner occupied commercial real estate 13,858 4,056 Construction and land 5,386 3,317 Owner occupied commercial real estate 17,451 18,872 Commercial and industrial Taxi medallion loans 92,893 107,529 Other commercial and industrial 15,559 43,308 Commercial lending subsidiaries 5,398 27,202 176,219 206,100 $ 180,447 $ 206,900 In addition to the above, a pool of ACI home equity loans and lines of credit was impaired during the three and nine months ended September 30, 2017 . All of the loans from this pool were sold in the fourth quarter of 2017. The average balance of impaired ACI home equity loans and lines of credit for the three and nine months ended September 30, 2017 was $5.2 million and $4.2 million , respectively. The following table presents the recorded investment in loans on non-accrual status as of dates indicated (in thousands): September 30, 2018 December 31, 2017 Non-Covered Loans Covered Non-Covered Loans Covered Non-ACI Loans Residential and other consumer: 1-4 single family residential $ 8,021 $ 167 $ 9,705 $ 1,341 Other consumer loans 1,956 — 821 — 9,977 $ 167 10,526 $ 1,341 Commercial: Multi-family 25,829 — Non-owner occupied commercial real estate 15,364 12,716 Construction and land 10,166 1,175 Owner occupied commercial real estate 17,513 29,020 Commercial and industrial Taxi medallion loans 80,155 106,067 Other commercial and industrial 24,036 7,049 Commercial lending subsidiaries 22,438 3,512 195,501 159,539 $ 205,478 $ 170,065 Non-covered loans contractually delinquent by 90 days or more and still accruing totaled $0.7 million and $1.9 million at September 30, 2018 and December 31, 2017 , respectively. The amount of additional interest income that would have been recognized on non-accrual loans had they performed in accordance with their contractual terms was approximately $2.1 million and $5.0 million for the three and nine months ended September 30, 2018 , respectively, and $1.4 million and $3.7 million for the three and nine months ended September 30, 2017 , respectively. Management considers delinquency status to be the most meaningful indicator of the credit quality of 1-4 single family residential, home equity and consumer loans. Delinquency statistics are updated at least monthly. See "Aging of loans" below for more information on the delinquency status of loans. Original LTV and original FICO score are also important indicators of credit quality for the non-covered 1-4 single family residential portfolio. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial loans. Internal risk ratings are a key factor in identifying loans that are individually evaluated for impairment and impact management’s estimates of loss factors used in determining the amount of the ALLL. Internal risk ratings are updated on a continuous basis. Generally, relationships with balances in excess of defined thresholds, ranging from $1 million to $3 million , are re-evaluated at least annually and more frequently if circumstances indicate that a change in risk rating may be warranted. Loans exhibiting potential credit weaknesses that deserve management’s close attention and that if left uncorrected may result in deterioration of the repayment capacity of the borrower are categorized as special mention. Loans with well-defined credit weaknesses, including payment defaults, declining collateral values, frequent overdrafts, operating losses, increasing balance sheet leverage, inadequate cash flow, project cost overruns, unreasonable construction delays, past due real estate taxes or exhausted interest reserves, are assigned an internal risk rating of substandard. A loan with a weakness so severe that collection in full is highly questionable or improbable, but because of certain reasonably specific pending factors has not been charged off, will be assigned an internal risk rating of doubtful. The following tables summarize key indicators of credit quality for the Company's loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): 1-4 Single Family Residential credit exposure for non-covered loans, excluding government insured residential loans, based on original LTV and FICO score: September 30, 2018 FICO LTV 720 or less 721 - 740 741 - 760 761 or greater Total 60% or less $ 103,798 $ 122,757 $ 200,142 $ 810,505 $ 1,237,202 60% - 70% 114,254 108,560 171,213 601,041 995,068 70% - 80% 155,595 197,569 360,631 1,221,788 1,935,583 More than 80% 16,428 34,166 33,830 128,448 212,872 $ 390,075 $ 463,052 $ 765,816 $ 2,761,782 $ 4,380,725 December 31, 2017 FICO LTV 720 or less 721 - 740 741 - 760 761 or greater Total 60% or less $ 91,965 $ 117,318 $ 185,096 $ 815,792 $ 1,210,171 60% - 70% 100,866 103,387 147,541 590,493 942,287 70% - 80% 149,209 183,064 324,884 1,139,902 1,797,059 More than 80% 16,116 30,408 28,149 121,689 196,362 $ 358,156 $ 434,177 $ 685,670 $ 2,667,876 $ 4,145,879 Commercial credit exposure, based on internal risk rating: September 30, 2018 Commercial and Industrial Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Taxi Medallion Loans Other Commercial and Industrial Pinnacle Bridge Total Pass $ 2,690,193 $ 4,499,176 $ 234,453 $ 2,048,491 $ — $ 4,528,964 $ 1,482,125 $ 1,094,950 $ 16,578,352 Special mention 6,459 3,288 — 8,774 — 43,732 — 1,144 63,397 Substandard 66,346 65,125 10,166 34,713 80,155 54,198 — 34,715 345,418 Doubtful — — — — — 1,496 — 7,163 8,659 $ 2,762,998 $ 4,567,589 $ 244,619 $ 2,091,978 $ 80,155 $ 4,628,390 $ 1,482,125 $ 1,137,972 $ 16,995,826 December 31, 2017 Commercial and Industrial Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Taxi Medallion Loans Other Commercial and Industrial Pinnacle Bridge Total Pass $ 3,124,819 $ 4,360,827 $ 305,043 $ 1,954,464 $ — $ 3,965,241 $ 1,524,622 $ 954,376 $ 16,189,392 Special mention 34,837 33,094 — 22,161 — 37,591 — 55,551 183,234 Substandard 59,297 80,880 5,441 33,145 104,682 27,010 — 27,950 338,405 Doubtful — — — 2,972 1,385 1,918 — — 6,275 $ 3,218,953 $ 4,474,801 $ 310,484 $ 2,012,742 $ 106,067 $ 4,031,760 $ 1,524,622 $ 1,037,877 $ 16,717,306 Aging of loans: The following table presents an aging of loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): September 30, 2018 December 31, 2017 Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total Non-covered loans: 1-4 single family residential $ 4,365,863 $ 6,842 $ 3,102 $ 4,918 $ 4,380,725 $ 4,121,624 $ 15,613 $ 4,941 $ 3,701 $ 4,145,879 Government insured residential 24,804 3,606 7,141 128,823 164,374 23,455 1,611 1,153 1,855 28,074 Home equity loans and lines of credit 1,694 21 — — 1,715 1,633 21 — — 1,654 Other consumer loans 13,071 2,035 — 1,658 16,764 19,958 15 — 500 20,473 Multi-family 2,762,998 — — — 2,762,998 3,218,953 — — — 3,218,953 Non-owner occupied commercial real estate 4,561,612 — 1,080 4,897 4,567,589 4,464,967 7,549 — 2,285 4,474,801 Construction and land 238,573 — 4,950 1,096 244,619 309,309 — — 1,175 310,484 Owner occupied commercial real estate 2,078,599 1,527 1,271 10,581 2,091,978 2,004,397 1,292 499 6,554 2,012,742 Commercial and industrial Taxi medallion loans 63,236 263 3,294 13,362 80,155 88,394 6,048 3,333 8,292 106,067 Other commercial and industrial 4,609,194 269 16,336 2,591 4,628,390 4,025,784 4,291 291 1,394 4,031,760 Commercial lending subsidiaries Pinnacle 1,482,125 — — — 1,482,125 1,524,622 — — — 1,524,622 Bridge 1,136,744 — — 1,228 1,137,972 1,037,025 852 — — 1,037,877 $ 21,338,513 $ 14,563 $ 37,174 $ 169,154 $ 21,559,404 $ 20,840,121 $ 37,292 $ 10,217 $ 25,756 $ 20,913,386 Covered loans: Non-ACI loans: 1-4 single family residential $ 15,442 $ 80 $ 67 $ 100 $ 15,689 $ 21,106 $ 1,603 $ — $ 1,341 $ 24,050 ACI loans: 1-4 single family residential $ 339,176 $ 4,256 $ 410 $ 236 $ 344,078 $ 448,125 $ 10,388 $ 2,719 $ 17,836 $ 479,068 1-4 single family residential ACI loans that are contractually delinquent by more than 90 days and accounted for in pools on which discount continues to be accreted totaled $0.2 million and $18 million at September 30, 2018 and December 31, 2017 , respectively. Government insured residential loans on accrual status that are delinquent by more than 90 days totaled $129 million at September 30, 2018 . Foreclosure of residential real estate The carrying amount of foreclosed residential real estate properties included in "Other assets" in the accompanying consolidated balance sheets, all of which were covered, totaled $5 million and $3 million at September 30, 2018 and December 31, 2017 , respectively. The recorded investment in non-government insured residential mortgage loans in the process of foreclosure totaled $1 million and $11 million at September 30, 2018 and December 31, 2017 , respectively, substantially all of which were covered loans at December 31, 2017 . The recorded investment in government insured residential loans in the process of foreclosure totaled $59 million at September 30, 2018 . Troubled debt restructurings The following table summarizes loans that were modified in TDRs during the periods indicated, as well as loans modified during the twelve months preceding September 30, 2018 and 2017 , that experienced payment defaults during the periods indicated (dollars in thousands): Three Months Ended September 30, 2018 2017 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential (1) 11 $ 956 4 $ 311 — $ — 2 $ 269 Non-owner occupied commercial real estate 2 3,037 — — — — — — Commercial and industrial Taxi medallion loans 1 217 1 215 15 5,439 6 2,105 Other commercial and industrial 2 3,953 — — 1 978 — — 16 $ 8,163 5 $ 526 16 $ 6,417 8 $ 2,374 Covered loans: Non-ACI loans: Home equity loans and lines of credit — $ — — $ — — $ — 1 $ 70 — $ — — $ — — $ — 1 $ 70 Nine Months Ended September 30, 2018 2017 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential (1) 24 $ 4,986 5 $ 411 4 $ 351 2 $ 269 Non-owner occupied commercial real estate 2 3,037 — — 1 5,389 — — Owner occupied commercial real estate — — — — 2 4,522 — — Commercial and industrial Taxi medallion loans 7 1,418 1 215 97 48,692 8 3,509 Other commercial and industrial 3 4,117 — — 14 20,860 — — Commercial lending subsidiaries — — — — 1 12,810 — — 36 $ 13,558 6 $ 626 119 $ 92,624 10 $ 3,778 Covered loans: Non-ACI loans: Home equity loans and lines of credit — $ — — $ — 5 $ 939 1 $ 70 — $ — — $ — 5 $ 939 1 $ 70 (1) Includes government insured residential loans modified during the three and nine months ended September 30, 2018 and 2017 . Modifications during the three and nine months ended September 30, 2018 and 2017 included interest rate reductions, restructuring of the amount and timing of required periodic payments, extensions of maturity and covenant waivers. Included in TDRs are residential loans to borrowers who have not reaffirmed their debt discharged in Chapter 7 bankruptcy. The total amount of such loans is not material. Modified ACI loans accounted for in pools are not considered TDRs, are not separated from the pools and are not classified as impaired loans. |
FDIC Indemnification Asset
FDIC Indemnification Asset | 9 Months Ended |
Sep. 30, 2018 | |
FDIC Indemnification Asset [Abstract] | |
FDIC Indemnification Asset | FDIC Indemnification Asset When the Company recognizes gains or losses related to covered assets in its consolidated financial statements, changes in the estimated amount recoverable from the FDIC under the Loss Sharing Agreements with respect to those gains or losses are also reflected in the consolidated financial statements. Covered loans may be resolved through prepayment, short sale of the underlying collateral, foreclosure, sale of the loans or charge-off. For loans resolved through prepayment, short sale or foreclosure, the difference between consideration received in satisfaction of the loans and the allocated carrying value of the loans is recognized in the consolidated statement of income line item “ Income from resolution of covered assets, net .” Losses from the resolution of covered loans increase the amount recoverable from the FDIC under the Loss Sharing Agreements. Gains from the resolution of covered loans reduce the amount recoverable from the FDIC under the Loss Sharing Agreements. Similarly, differences in proceeds received on the sale of covered OREO and covered loans and their allocated carrying amounts result in gains or losses and reduce or increase the amount recoverable from the FDIC under the Loss Sharing Agreements. Increases in valuation allowances or impairment charges related to covered assets also increase the amount estimated to be recoverable from the FDIC. These additions to or reductions in amounts recoverable from the FDIC related to transactions in the covered assets are recorded in the consolidated statement of income line item “ Net gain (loss) on FDIC indemnification ” and reflected as corresponding increases or decreases in the FDIC indemnification asset. The following tables summarize the components of the gains and losses associated with covered assets, along with the related additions to or reductions in the amounts recoverable from the FDIC under the Loss Sharing Agreements, as reflected in the consolidated statements of income for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Transaction Net Gain (Loss) on FDIC Net Impact Transaction Net Loss on FDIC Net Impact Recovery of (provision for) losses on covered loans $ 50 $ (40 ) $ 10 $ (261 ) $ 215 $ (46 ) Income from resolution of covered assets, net 3,134 (2,532 ) 602 6,400 (5,082 ) 1,318 Gain on sale of covered loans 5,037 5,449 10,486 — — — Loss on covered OREO (260 ) 213 (47 ) (35 ) 29 (6 ) $ 7,961 $ 3,090 $ 11,051 $ 6,104 $ (4,838 ) $ 1,266 Nine Months Ended September 30, 2018 2017 Transaction Net Loss on FDIC Net Impact Transaction Net Loss on FDIC Net Impact Provision for losses on covered loans $ (517 ) $ 413 $ (104 ) $ (2,693 ) $ 2,095 $ (598 ) Income from resolution of covered assets, net 10,689 (8,592 ) 2,097 22,066 (17,591 ) 4,475 Gain (loss) on sale of covered loans 4,739 5,692 10,431 (1,582 ) 1,266 (316 ) Loss on covered OREO (796 ) 562 (234 ) (65 ) 56 (9 ) $ 14,115 $ (1,925 ) $ 12,190 $ 17,726 $ (14,174 ) $ 3,552 Changes in the FDIC indemnification asset for the nine months ended September 30, 2018 and the year ended December 31, 2017 , were as follows (in thousands): Balance at December 31, 2016 $ 515,910 Amortization (176,466 ) Reduction for claims filed (21,589 ) Net loss on FDIC indemnification (22,220 ) Balance at December 31, 2017 295,635 Amortization (132,852 ) Reduction for claims filed (8,341 ) Net loss on FDIC indemnification (1,925 ) Balance at September 30, 2018 $ 152,517 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 6 Income Taxes A reconciliation of expected income tax expense at the statutory federal income tax rate of 21% and 35%, during the three and nine months ended September 30, 2018 and 2017, respectively, to the Company's effective income tax rate for the periods indicated follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Tax expense calculated at the statutory federal income tax rate 21.00 % 35.00 % 21.00 % 35.00 % Increases (decreases) resulting from: Income not subject to tax (6.59 )% (7.36 )% (4.92 )% (7.75 )% State income taxes, net of federal tax benefit 6.89 % 5.60 % 6.91 % 5.60 % Other, net (3.29 )% (1.00 )% (1.62 )% (1.66 )% 18.01 % 32.24 % 21.37 % 31.19 % The Company has investments in affordable housing limited partnerships which generate federal Low Income Housing Tax Credits and other tax benefits. The balance of these investments, included in other assets in the accompanying consolidated balance sheet, was $59 million and $64 million at September 30, 2018 and December 31, 2017 , respectively. Unfunded commitments for affordable housing investments, included in other liabilities in the accompanying consolidated balance sheet, were $17 million and $26 million at September 30, 2018 and December 31, 2017 , respectively. The maximum exposure to loss as a result of the Company's involvement with these limited partnerships at September 30, 2018 was approximately $72 million . While the Company believes the likelihood of potential losses from these investments is remote, the maximum exposure was determined by assuming a scenario where the projects completely fail and do not meet certain government compliance requirements resulting in recapture of the related tax credits. These investments did not have a material impact on income tax expense for the three and nine months ended September 30, 2018 and 2017 . |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of expected income tax expense at the statutory federal income tax rate of 21% and 35%, during the three and nine months ended September 30, 2018 and 2017, respectively, to the Company's effective income tax rate for the periods indicated follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Tax expense calculated at the statutory federal income tax rate 21.00 % 35.00 % 21.00 % 35.00 % Increases (decreases) resulting from: Income not subject to tax (6.59 )% (7.36 )% (4.92 )% (7.75 )% State income taxes, net of federal tax benefit 6.89 % 5.60 % 6.91 % 5.60 % Other, net (3.29 )% (1.00 )% (1.62 )% (1.66 )% 18.01 % 32.24 % 21.37 % 31.19 % |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities The Company uses interest rate swaps to manage interest rate risk related to liabilities that expose the Company to variability in cash flows due to changes in interest rates. The Company enters into LIBOR-based interest rate swaps that are designated as cash flow hedges with the objective of limiting the variability of interest payment cash flows resulting from changes in the benchmark interest rate LIBOR. Changes in the fair value of interest rate swaps designated as cash flow hedging instruments are reported in AOCI and subsequently reclassified into interest expense in the same period in which the related interest on the floating-rate debt obligations affects earnings. The Company also enters into interest rate derivative contracts with certain of its commercial borrowers to enable those borrowers to manage their exposure to interest rate fluctuations. To mitigate interest rate risk associated with these derivative contracts, the Company enters into offsetting derivative contract positions with primary dealers. These interest rate derivative contracts are not designated as hedging instruments; therefore, changes in the fair value of these derivatives are recognized immediately in earnings. The impact on earnings related to changes in fair value of these derivatives for the three and nine months ended September 30, 2018 and 2017 was not material. The Company may be exposed to credit risk in the event of non-performance by the counterparties to its interest rate derivative agreements. The Company assesses the credit risk of its financial institution counterparties by monitoring publicly available credit rating and financial information. The Company manages dealer credit risk by entering into interest rate derivatives only with primary and highly rated counterparties, the use of ISDA master agreements, central clearing mechanisms and counterparty limits. The agreements contain bilateral collateral arrangements with the amount of collateral to be posted generally governed by the settlement value of outstanding swaps. The Company manages the risk of default by its borrower counterparties through its normal loan underwriting and credit monitoring policies and procedures. The Company does not currently anticipate any losses from failure of interest rate derivative counterparties to honor their obligations. The CME legally characterizes variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposures rather than collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. The Company's clearing agent for interest rate derivative contracts centrally cleared through the CME settles the variation margin daily with the CME; therefore, those interest rate derivative contracts the Company clears through the CME are reported at a fair value of approximately zero at September 30, 2018 . The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands): September 30, 2018 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.32% 3-Month Libor 4.4 $ 2,596,000 Other assets / Other liabilities $ 6,763 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.96% Indexed to 1-month Libor 5.9 1,051,884 Other assets / Other liabilities 26,933 (3,686 ) Pay-variable interest rate swaps Indexed to 1-month Libor 3.96% 5.9 1,051,884 Other assets / Other liabilities 4,211 (34,581 ) Interest rate caps purchased, indexed to 1-month Libor 3.27% 1.1 124,915 Other assets 53 — Interest rate caps sold, indexed to 1-month Libor 3.27% 1.1 124,915 Other liabilities — (53 ) $ 4,949,598 $ 37,960 $ (38,320 ) December 31, 2017 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 1.77% 3-Month Libor 4.3 $ 2,046,000 Other assets / Other liabilities $ 2,350 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.87% Indexed to 1-month Libor 6.4 1,028,041 Other assets / Other liabilities 10,856 (13,173 ) Pay-variable interest rate swaps Indexed to 1-month Libor 3.87% 6.4 1,028,041 Other assets / Other liabilities 14,410 (12,189 ) Interest rate caps purchased, indexed to 1-month Libor 2.81% 1.3 145,354 Other assets 11 — Interest rate caps sold, indexed to 1-month Libor 2.81% 1.3 145,354 Other liabilities — (11 ) $ 4,392,790 $ 27,627 $ (25,373 ) The following table provides information about the amount of gain (loss) related to derivatives designated as cash flow hedges reclassified from AOCI into interest expense for the periods indicated (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Location of Gain (Loss) Reclassified from AOCI into Income Interest rate contracts $ 1,050 $ (2,001 ) $ 839 $ (7,463 ) Interest expense on borrowings During the three and nine months ended September 30, 2018 and 2017 , no derivative positions designated as cash flow hedges were discontinued and none of the gains and losses reported in AOCI were reclassified into earnings as a result of the discontinuance of cash flow hedges or because of the early extinguishment of debt. As of September 30, 2018 , the amount of net gain expected to be reclassified from AOCI into earnings during the next twelve months was $10.1 million . Some of the Company’s ISDA master agreements with financial institution counterparties contain provisions that permit either counterparty to terminate the agreements and require settlement in the event that regulatory capital ratios fall below certain designated thresholds, upon the initiation of other defined regulatory actions or upon suspension or withdrawal of the Bank’s credit rating. Currently, there are no circumstances that would trigger these provisions of the agreements. The Company does not offset assets and liabilities under master netting agreements for financial reporting purposes. Information on interest rate swaps subject to these agreements is as follows at the dates indicated (in thousands): September 30, 2018 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 33,749 $ — $ 33,749 $ (3,432 ) $ (30,306 ) $ 11 Derivative liabilities (3,686 ) — (3,686 ) 3,432 169 (85 ) $ 30,063 $ — $ 30,063 $ — $ (30,137 ) $ (74 ) December 31, 2017 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 13,217 $ — $ 13,217 $ (7,996 ) $ (5,221 ) $ — Derivative liabilities (13,173 ) — (13,173 ) 7,996 4,962 (215 ) $ 44 $ — $ 44 $ — $ (259 ) $ (215 ) The difference between the amounts reported for interest rate swaps subject to master netting agreements and the total fair value of interest rate contract derivative financial instruments reported in the consolidated balance sheets is related to interest rate contracts entered into with borrowers not subject to master netting agreements. At September 30, 2018 , the Company had pledged financial collateral of $32 million as collateral for initial margin requirements on centrally cleared derivatives and interest rate swaps in a liability position that are not centrally cleared. Financial collateral of $31 million was pledged by counterparties to the Company for interest rate swaps in an asset position. The amount of collateral required to be posted varies based on the settlement value of outstanding swaps and in some cases may include initial margin requirements. |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Accumulated Other Comprehensive Income Changes in other comprehensive income are summarized as follows for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ (24,690 ) $ 6,543 $ (18,147 ) $ 14,144 $ (5,587 ) $ 8,557 Amounts reclassified to gain on investment securities available for sale, net (520 ) 138 (382 ) (26,931 ) 10,638 (16,293 ) Net change in unrealized gains on investment securities available for sale (25,210 ) 6,681 (18,529 ) (12,787 ) 5,051 (7,736 ) Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period 14,335 (3,799 ) 10,536 (281 ) 111 (170 ) Amounts reclassified to interest expense on borrowings (1,050 ) 278 (772 ) 2,001 (791 ) 1,210 Net change in unrealized losses on derivative instruments 13,285 (3,521 ) 9,764 1,720 (680 ) 1,040 Other comprehensive loss $ (11,925 ) $ 3,160 $ (8,765 ) $ (11,067 ) $ 4,371 $ (6,696 ) Nine Months Ended September 30, 2018 2017 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ (79,697 ) $ 21,120 $ (58,577 ) $ 54,258 $ (21,432 ) $ 32,826 Amounts reclassified to gain on investment securities available for sale, net (4,047 ) 1,073 (2,974 ) (29,194 ) 11,532 (17,662 ) Net change in unrealized gains on investment securities available for sale (83,744 ) 22,193 (61,551 ) 25,064 (9,900 ) 15,164 Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period 54,660 (14,485 ) 40,175 (13,780 ) 5,443 (8,337 ) Amounts reclassified to interest expense on borrowings (839 ) 222 (617 ) 7,463 (2,948 ) 4,515 Net change in unrealized losses on derivative instruments 53,821 (14,263 ) 39,558 (6,317 ) 2,495 (3,822 ) Other comprehensive income (loss) $ (29,923 ) $ 7,930 $ (21,993 ) $ 18,747 $ (7,405 ) $ 11,342 The categories of AOCI and changes therein are presented below for the periods indicated (in thousands): Unrealized Gain (Loss) on Investment Securities Available for Sale Unrealized Gain (Loss) on Derivative Instruments Total Balance at December 31, 2017 $ 56,534 $ (1,548 ) $ 54,986 Cumulative effect of adoption of new accounting standards 9,187 (285 ) 8,902 Other comprehensive loss (61,551 ) 39,558 (21,993 ) Balance at September 30, 2018 $ 4,170 $ 37,725 $ 41,895 Balance at December 31, 2016 $ 47,057 $ (5,810 ) $ 41,247 Other comprehensive income 15,164 (3,822 ) 11,342 Balance at September 30, 2017 $ 62,221 $ (9,632 ) $ 52,589 In January 2018, the Company's Board of Directors authorized a now completed share repurchase program under which the Company repurchased 3.8 million shares of common stock for an aggregate purchase price of $150.0 million . In October 2018 the Company's Board of Directors authorized the repurchase of up to an additional $150 million in shares of its outstanding common stock. Any repurchases will be made in accordance with applicable securities laws from time to time in open market or private transactions. The extent to which the Company repurchases shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, the Company’s capital position and amount of retained earnings, regulatory requirements and other considerations. No time limit was set for the completion of the share repurchase program, and the program may be suspended or discontinued at any time. |
Equity Based Compensation
Equity Based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Note 9 Equity Based and Other Compensation Plans Share Awards Unvested share awards A summary of activity related to unvested share awards follows for the periods indicated: Number of Share Awards Weighted Average Grant Date Fair Value Unvested share awards outstanding, December 31, 2017 1,108,477 $ 36.06 Granted 666,277 40.32 Vested (529,469 ) 34.64 Canceled or forfeited (72,465 ) 38.77 Unvested share awards outstanding, September 30, 2018 1,172,820 $ 38.95 Unvested share awards outstanding, December 31, 2016 1,120,700 $ 31.46 Granted 618,306 40.25 Vested (550,382 ) 31.67 Canceled or forfeited (77,324 ) 34.40 Unvested share awards outstanding, September 30, 2017 1,111,300 $ 36.04 Unvested share awards are generally valued at the closing price of the Company's common stock on the date of grant. All of the shares vest in equal annual installments over a period of three years from the date of grant. The following table summarizes the closing price of the Company's stock on the date of grant for shares granted and the aggregate grant date fair value of shares vesting for the periods indicated (in thousands, except per share data): Nine Months Ended September 30, 2018 2017 Range of the closing price on date of grant $39.04 - $42.80 $33.21 - $40.84 Aggregate grant date fair value of shares vesting $ 18,341 $ 17,429 The total unrecognized compensation cost of $30.2 million for all unvested share awards outstanding at September 30, 2018 will be recognized over a weighted average remaining period of 1.95 years . Executive share-based awards Certain of the Company's executives are eligible to receive annual awards of RSUs and PSUs (collectively, the "share units"). Annual awards of RSUs represent a fixed number of shares and vest on December 31st in equal tranches over three years . PSUs are initially granted based on a target value. The numb er of PSUs that ultimately vest at the end of a three-year performance measurement period will be based on the achievement of performance criteria pre-established by the Compensation Committee of the Board of Directors. The performance criteria established for the PSUs granted in 2018 , 2017 and 2016 include both performance and market conditions. Upon vesting, the share units will be converted to common stock on a one-for-one basis, or may be settled in cash at the Company's option. The share units will accumulate dividends declared on the Company's common stock from the date of grant to be paid subsequent to vesting. The Company has cash settled all tranches of RSUs that have vested to date. As a result, all RSUs and PSUs have been determined to be liability instruments and are remeasured at fair value each reporting period until the awards are settled. The RSUs are valued based on the closing price of the Company's common stock at the reporting date. The PSUs are valued based on the closing price of the Company's common stock at the reporting date net of a discount related to any applicable market conditions, considering the probability of meeting the defined performance conditions. Compensation cost related to PSUs is recognized during the performance period based on the probable outcome of the respective performance conditions. A summary of activity related to executive share-based awards follows for the periods indicated: RSU PSU Unvested executive share-based awards outstanding, December 31, 2017 91,168 105,721 Granted 52,026 52,026 Unvested executive share-based awards outstanding, September 30, 2018 143,194 157,747 Unvested executive share-based awards outstanding, December 31, 2016 78,561 57,873 Granted 47,848 47,848 Unvested executive share-based awards outstanding, September 30, 2017 126,409 105,721 The total liability for the share units was $5.7 million at September 30, 2018 . The total unrecognized compensation cost of $5.2 million for these share units at September 30, 2018 will be recognized over a weighted average remaining period of 1.82 years . Incentive awards The Company's annual incentive compensation arrangements for employees other than those eligible for the executive share-based awards discussed above provide for settlement through a combination of cash payments and unvested share awards following the end of the annual performance period. The dollar value of share awards to be granted is based on the achievement of performance criteria established in the incentive arrangements. The number of shares of common stock to be awarded is variable based on the closing price of the Company's stock on the date of grant; therefore, these awards are initially classified as liability instruments, with compensation cost recognized from the beginning of the performance period. The awards vest in equal installments over a period of three years from the date of grant. The total liability for incentive share awards was $1.1 million at September 30, 2018 . The total unrecognized compensation cost of $4.8 million for incentive share awards at September 30, 2018 will be recognized over a weighted average remaining period of 3.25 years . The accrued liability and unrecognized compensation cost are based on management's current estimate of the likely outcome of the performance criteria established in the incentive arrangements and may differ from actual results. T he 666,277 unvested share awards granted during the nine months ended September 30, 2018 , as discussed above, included 90,642 unvested share awards granted under the Company's annual incentive compensation arrangements based on the achievement of established performance criteria for the year ended December 31, 2017. Option Awards A summary of activity related to stock option awards for the nine months ended September 30, 2018 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2017 1,270,688 $ 26.93 Exercised (291,689 ) 26.49 Option awards outstanding and exercisable, September 30, 2018 978,999 $ 27.07 Option awards outstanding, December 31, 2016 3,602,076 $ 26.74 Exercised (2,304,108 ) 26.70 Option awards outstanding and exercisable, September 30, 2017 1,297,968 $ 26.81 The intrinsic value of options exercised was $4.6 million and $25.3 million , respectively, during the nine months ended September 30, 2018 and 2017. The related tax benefit of options exercised was $1.1 million and $3.8 million , respectively, during the nine months ended September 30, 2018 and 2017. |
Equity Based Compensation | ption Awards A summary of activity related to stock option awards for the nine months ended September 30, 2018 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2017 1,270,688 $ 26.93 Exercised (291,689 ) 26.49 Option awards outstanding and exercisable, September 30, 2018 978,999 $ 27.07 Option awards outstanding, December 31, 2016 3,602,076 $ 26.74 Exercised (2,304,108 ) 26.70 Option awards outstanding and exercisable, September 30, 2017 1,297,968 $ 26.81 The intrinsic value of options exercised was $4.6 million and $25.3 million , respectively, during the nine months ended September 30, 2018 and 2017. The related tax benefit of options exercised was $1.1 million and $3.8 million , respectively, during the nine months ended September 30, 2018 and 2017. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis Following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which those measurements are typically classified. Investment securities available for sale and marketable equity securities —Fair value measurements are based on quoted prices in active markets when available; these measurements are classified within level 1 of the fair value hierarchy. These securities typically include U.S. Treasury securities and certain preferred stocks. If quoted prices in active markets are not available, fair values are estimated using quoted prices of securities with similar characteristics, quoted prices of identical securities in less active markets, discounted cash flow techniques, or matrix pricing models. These securities are generally classified within level 2 of the fair value hierarchy and include U.S. Government agency securities, U.S. Government agency and sponsored enterprise MBS, preferred stock investments for which level 1 valuations are not available, corporate debt securities, non-mortgage asset-backed securities, single family rental real estate-backed securities, certain private label residential MBS and CMOs, private label commercial MBS, collateralized loan obligations and state and municipal obligations. Pricing of these securities is generally primarily spread driven. Observable inputs that may impact the valuation of these securities include benchmark yield curves, credit spreads, reported trades, dealer quotes, bids, issuer spreads, current rating, historical constant prepayment rates, historical voluntary prepayment rates, structural and waterfall features of individual securities, published collateral data, and for certain securities, historical constant default rates and default severities. Investment securities available for sale generally classified within level 3 of the fair value hierarchy include certain private label MBS and trust preferred securities. The Company typically values these securities using third-party proprietary pricing models, primarily discounted cash flow valuation techniques, which incorporate both observable and unobservable inputs. Unobservable inputs that may impact the valuation of these securities include risk adjusted discount rates, projected prepayment rates, projected default rates and projected loss severity. The Company uses third-party pricing services in determining fair value measurements for investment securities. To obtain an understanding of the methodologies and assumptions used, management reviews written documentation provided by the pricing services, conducts interviews with valuation desk personnel and reviews model results and detailed assumptions used to value selected securities as considered necessary. Management has established a robust price challenge process that includes a review by the treasury front office of all prices provided on a monthly basis. Any price evidencing unexpected month over month fluctuations or deviations from expectations is challenged. If considered necessary to resolve any discrepancies, a price will be obtained from an additional independent valuation source. The Company does not typically adjust the prices provided, other than through this established challenge process. The results of price challenges are subject to review by executive management. The Company has also established a quarterly process whereby prices provided by its primary pricing service for a sample of securities are validated. Any price discrepancies are resolved based on careful consideration of the assumptions and inputs employed by each of the pricing sources. Servicing rights —Commercial servicing rights are valued using a discounted cash flow methodology incorporating contractually specified servicing fees and market based assumptions about prepayments, discount rates, default rates and costs of servicing. Prepayment and default assumptions are based on historical industry data for loans with similar characteristics. Assumptions about costs of servicing are based on market convention. Discount rates are based on rates of return implied by observed trades of underlying loans in the secondary market. Fair value of residential MSRs is estimated using a discounted cash flow technique that incorporates market‑based assumptions including estimated prepayment speeds, contractual servicing fees, cost to service, discount rates, escrow account earnings, ancillary income, and estimated defaults. Due to the nature of the valuation inputs and the limited availability of market pricing, servicing rights are classified as level 3. Derivative financial instruments —Fair values of interest rate swaps are determined using widely accepted discounted cash flow modeling techniques. These discounted cash flow models use projections of future cash payments and receipts that are discounted at mid-market rates. Observable inputs that may impact the valuation of these instruments include LIBOR swap rates and LIBOR forward yield curves. These fair value measurements are generally classified within level 2 of the fair value hierarchy. The following tables present assets and liabilities measured at fair value on a recurring basis at the dates indicated (in thousands): September 30, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 34,846 $ — $ — $ 34,846 U.S. Government agency and sponsored enterprise residential MBS — 1,929,830 — 1,929,830 U.S. Government agency and sponsored enterprise commercial MBS — 239,130 — 239,130 Private label residential MBS and CMOs — 971,138 37,402 1,008,540 Private label commercial MBS — 1,167,873 — 1,167,873 Single family rental real estate-backed securities — 520,120 — 520,120 Collateralized loan obligations — 1,187,327 — 1,187,327 Non-mortgage asset-backed securities — 207,158 — 207,158 State and municipal obligations — 422,775 — 422,775 SBA securities — 431,780 — 431,780 Other debt securities — — 5,664 5,664 Marketable equity securities 62,360 — — 62,360 Servicing rights — — 37,613 37,613 Derivative assets — 37,960 — 37,960 Total assets at fair value $ 97,206 $ 7,115,091 $ 80,679 $ 7,292,976 Derivative liabilities $ — $ 38,320 $ — $ 38,320 Total liabilities at fair value $ — $ 38,320 $ — $ 38,320 December 31, 2017 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 24,953 $ — $ — $ 24,953 U.S. Government agency and sponsored enterprise residential MBS — 2,058,027 — 2,058,027 U.S. Government agency and sponsored enterprise commercial MBS — 234,508 — 234,508 Private label residential MBS and CMOs — 576,033 52,214 628,247 Private label commercial MBS — 1,046,415 — 1,046,415 Single family rental real estate-backed securities — 562,706 — 562,706 Collateralized loan obligations — 723,681 — 723,681 Non-mortgage asset-backed securities — 121,747 — 121,747 Marketable equity securities 63,543 — — 63,543 State and municipal obligations — 657,203 — 657,203 SBA securities — 550,682 — 550,682 Other debt securities — 3,791 5,329 9,120 Servicing rights — — 30,737 30,737 Derivative assets — 27,627 — 27,627 Total assets at fair value $ 88,496 $ 6,562,420 $ 88,280 $ 6,739,196 Derivative liabilities $ — $ 25,373 $ — $ 25,373 Total liabilities at fair value $ — $ 25,373 $ — $ 25,373 The following table reconciles changes in the fair value of assets and liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy during the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Private Label Other Debt Servicing Rights Private Label Other Debt Servicing Rights Balance at beginning of period $ 40,564 $ 5,581 $ 35,915 $ 108,790 $ 4,923 $ 29,128 Gains (losses) for the period included in: Net income — — (2,390 ) 24,146 — (1,330 ) Other comprehensive income (1,043 ) 75 — (24,668 ) 101 — Discount accretion 701 19 — 2,332 59 — Purchases or additions — — 4,088 — — 2,338 Sales — — — (40,732 ) — — Settlements (2,820 ) (11 ) — (9,071 ) (59 ) — Balance at end of period $ 37,402 $ 5,664 $ 37,613 $ 60,797 $ 5,024 $ 30,136 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (1,043 ) $ 75 $ (522 ) $ 101 Nine Months Ended September 30, 2018 2017 Private Label Residential MBS Other Debt Securities Servicing Rights Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 52,214 $ 5,329 $ 30,737 $ 120,610 $ 4,572 $ 27,159 Gains (losses) for the period included in: Net income 1,319 — (4,011 ) 24,146 — (4,273 ) Other comprehensive income (4,504 ) 362 — (25,651 ) 469 — Discount accretion 2,286 232 — 5,208 248 — Purchases or additions — — 10,887 — — 7,250 Sales (5,120 ) — — (40,732 ) — — Settlements (8,793 ) (259 ) — (22,784 ) (265 ) — Balance at end of period $ 37,402 $ 5,664 $ 37,613 $ 60,797 $ 5,024 $ 30,136 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (3,035 ) $ 362 $ (14,251 ) $ 469 Gains on private label residential MBS recognized in net income during the three and nine months ended September 30, 2018 and 2017 are included in the consolidated statement of income line item " Gain on investment securities, net ." Changes in the fair value of servicing rights are included in the consolidated statement of income line item “ Other non-interest income .” Changes in fair value include changes due to valuation assumptions, primarily discount rates and prepayment speeds, as well as other changes such as runoff and the passage of time. The amount of net unrealized gains (losses) included in earnings for the nine months ended September 30, 2018 and 2017 that were related to servicing rights held at September 30, 2018 and 2017 totaled approximately $0.4 million and $(0.8) million , respectively, and were primarily due to changes in discount rates and prepayment speeds. Securities for which fair value measurements are categorized in level 3 of the fair value hierarchy at September 30, 2018 consisted of pooled trust preferred securities with a fair value of $6 million and private label residential MBS and CMOs with a fair value of $37 million . The trust preferred securities are not material to the Company’s financial statements. Private label residential MBS consisted of senior and mezzanine tranches collateralized by prime fixed rate and hybrid 1-4 single family residential mortgages originated before 2005. Substantially all of these securities have variable rate coupons. Weighted average subordination levels at September 30, 2018 were 18.1% and 11.3% for investment grade and non-investment grade securities, respectively. The following table provides information about the valuation techniques and unobservable inputs used in the valuation of private label residential MBS and CMOs falling within level 3 of the fair value hierarchy as of September 30, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2018 Investment grade $ 22,805 Discounted cash flow Voluntary prepayment rate 10.40% - 25.50% (18.33%) Probability of default 0.00% - 6.75% (1.67%) Loss severity 15.00% - 100.00% (28.36%) Discount rate 0.47% - 8.81% (4.57%) Non-investment grade $ 14,597 Discounted cash flow Voluntary prepayment rate 1.20% - 25.00% (17.37%) Probability of default 0.00% - 5.85% (2.91%) Loss severity 15.00% - 80.00% (33.67%) Discount rate 1.29% - 10.99% (6.19%) The significant unobservable inputs impacting the fair value measurement of private label residential MBS and CMOs include voluntary prepayment rates, probability of default, loss severity given default and discount rates. Generally, increases in probability of default, loss severity or discount rates would result in a lower fair value measurement. Alternatively, decreases in probability of default, loss severity or discount rates would result in a higher fair value measurement. For securities with less favorable credit characteristics, decreases in voluntary prepayment speeds may be interpreted as a deterioration in the overall credit quality of the underlying collateral and as such, lead to lower fair value measurements. The fair value measurements of those securities with higher levels of subordination will be less sensitive to changes in these unobservable inputs other than discount rates, while securities with lower levels of subordination will show a higher degree of sensitivity to changes in these unobservable inputs other than discount rates. Generally, a change in the assumption used for probability of default is accompanied by a directionally similar change in the assumption used for loss severity given default and a directionally opposite change in the assumption used for voluntary prepayment rate. The following table provides information about the valuation techniques and significant unobservable inputs used in the valuation of servicing rights as of September 30, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2018 Residential MSRs $ 27,852 Discounted cash flow Prepayment rate 3.76% - 21.83% (10.44%) Discount rate 10.25% - 10.32% (10.26%) Commercial servicing rights $ 9,761 Discounted cash flow Prepayment rate 0.83% - 15.61% (11.40%) Discount rate 3.05% - 22.69% (14.38%) Increases in prepayment rates or discount rates would result in lower fair value measurements and decreases in prepayment rates or discount rates would result in higher fair value measurements. Although the prepayment rate and the discount rate are not directly interrelated, they generally move in opposite directions. Assets and liabilities measured at fair value on a non-recurring basis Following is a description of the methodologies used to estimate the fair values of assets and liabilities that may be measured at fair value on a non-recurring basis, and the level within the fair value hierarchy in which those measurements are typically classified. Impaired loans, OREO and other repossessed assets —The carrying amount of collateral dependent impaired loans is typically based on the fair value of the underlying collateral, which may be real estate, taxi medallions, or other business assets, less estimated costs to sell. The carrying value of OREO is initially measured based on the fair value of the real estate acquired in foreclosure and subsequently adjusted to the lower of cost or estimated fair value, less estimated cost to sell. Fair values of real estate collateral and OREO are typically based on third-party real estate appraisals which utilize market and income approaches to valuation incorporating both observable and unobservable inputs. When current appraisals are not available, the Company may use brokers’ price opinions, home price indices or other available information about changes in real estate market conditions to adjust the latest appraised value available. These adjustments to appraised values may be subjective and involve significant management judgment. The fair value of repossessed assets, other than taxi medallions, or collateral consisting of other business assets may be based on third-party appraisals or internal analyses that use market approaches to valuation incorporating primarily unobservable inputs. The valuation of New York City taxi medallions collateralizing loans is based primarily on recent transfer prices published by the NYTLC or obtained from other external sources. Taxi medallions in municipalities other than New York City are generally valued based on published information about recent transfer prices; the valuation of these assets did not have a material impact on the Company's consolidated financial statements for any period presented as the taxi medallion portfolio is heavily concentrated in New York City. Fair value measurements related to collateral dependent impaired loans, OREO and other repossessed assets are classified within levels 2 and 3 of the fair value hierarchy. The following tables present the carrying value of assets for which non-recurring changes in fair value have been recorded for the periods indicated (in thousands): September 30, 2018 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended Nine Months Ended September 30, 2018 OREO and repossessed assets $ — $ 1,300 $ 651 $ 1,951 $ (646 ) $ (2,447 ) Impaired loans $ — $ 61,029 $ 22,436 $ 83,465 $ (1,552 ) $ (14,510 ) September 30, 2017 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended Nine Months Ended OREO and repossessed assets $ — $ — $ 5,520 $ 5,520 $ (515 ) $ (1,534 ) Impaired loans $ — $ — $ 107,173 $ 107,173 $ (35,106 ) $ (58,073 ) Included in the tables above are impaired taxi medallion loans with carrying values of $61.0 million and $90.1 million at September 30, 2018 and 2017 , respectively, the majority of which were in New York City. Losses of $11.7 million and $54.3 million were recognized on impaired taxi medallion loans during the nine months ended September 30, 2018 and 2017 , respectively. In addition, OREO and repossessed assets reported above included repossessed taxi medallions with carrying values of $1.3 million and $2.5 million at September 30, 2018 and 2017 , respectively. Losses of $0.2 million , $0.6 million , $0.6 million and $1.0 million were recognized on repossessed taxi medallions during the three and nine months ended September 30, 2018 and 2017 , respectively. The following table presents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands): September 30, 2018 December 31, 2017 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 279,799 $ 279,799 $ 194,582 $ 194,582 Investment securities 1/2/3 7,227,403 7,227,403 6,690,832 6,690,832 Non-marketable equity securities 2 273,427 273,427 265,989 265,989 Loans held for sale 2 37,179 40,581 34,097 37,847 Loans: Covered 3 359,753 627,924 502,860 922,888 Non-covered 3 21,434,678 21,407,477 20,768,849 20,759,567 FDIC indemnification asset 3 152,517 68,500 295,635 148,356 Derivative assets 2 37,960 37,960 27,627 27,627 Liabilities: Demand, savings and money market deposits 2 $ 15,589,497 $ 15,589,497 $ 15,543,637 $ 15,543,637 Time deposits 2 6,715,793 6,701,219 6,334,842 6,324,010 Federal funds purchased 2 175,000 175,000 — — FHLB advances 2 4,946,000 4,948,464 4,771,000 4,774,160 Notes and other borrowings 2 402,780 414,915 402,830 435,361 Derivative liabilities 2 38,320 38,320 25,373 25,373 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company issues off-balance sheet financial instruments to meet the financing needs of its customers. These financial instruments include commitments to fund loans, unfunded commitments under existing lines of credit, and commercial and standby letters of credit. These commitments expose the Company to varying degrees of credit and market risk which are essentially the same as those involved in extending loans to customers, and are subject to the same credit policies used in underwriting loans. Collateral may be obtained based on the Company’s credit evaluation of the counterparty. The Company’s maximum exposure to credit loss is represented by the contractual amount of these commitments. Commitments to fund loans These are agreements to lend funds to customers as long as there is no violation of any condition established in the contract. Commitments to fund loans generally have fixed expiration dates or other termination clauses and may require payment of a fee. Many of these commitments are expected to expire without being funded and, therefore, the total commitment amounts do not necessarily represent future liquidity requirements. Unfunded commitments under lines of credit Unfunded commitments under lines of credit include commercial, commercial real estate, home equity and consumer lines of credit to existing customers. Some of these commitments may mature without being fully funded. Commercial and standby letters of credit Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These letters of credit are primarily issued to support trade transactions or guarantee arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Total lending related commitments outstanding at September 30, 2018 were as follows (in thousands): Commitments to fund loans $ 577,539 Commitments to purchase loans 398,745 Unfunded commitments under lines of credit 2,855,444 Commercial and standby letters of credit 88,626 $ 3,920,354 Legal Proceedings The Company is involved as plaintiff or defendant in various legal actions arising in the normal course of business. In the opinion of management, based upon advice of legal counsel, the likelihood is remote that the impact of these proceedings, either individually or in the aggregate, would be material to the Company’s consolidated financial position, results of operations or cash flows. |
Subsequent events Subsequent Ev
Subsequent events Subsequent Events (Notes) - USD ($) $ in Millions | Oct. 31, 2018 | Dec. 31, 2018 | Sep. 30, 2018 |
Subsequent Event [Line Items] | |||
Unpaid principal balance of loans encompassed by the consent from the FDIC intended to be sold during the forth quarter of 2018 | $ 263 | ||
Unpaid principal balance of covered loans expected to be retained after the termination of the Single Family Shared-Loss Agreement | $ 421 | ||
Estimated accretion related to covered loans expected to be retained | $ 114 | ||
Certain Loans Acquired in Transfer, Accretable Yield | $ 117 | ||
Estimated accretion related to the retained loans to be recognized after the fourth quarter of 2018 | $ 302 | ||
Subsequent Events [Text Block] | Note 12 Subsequent Events Covered Loan Sale On October 31, 2018 the Bank received consent (the "consent") from the FDIC, pursuant to the terms of the Single Family Shared-Loss Agreement, to execute a portfolio sale of certain Covered loans and OREO. The UPB, as of September 30, 2018, of loans encompassed by the consent totaled approximately $263 million . The Bank intends to sell these loans in the fourth quarter of 2018. Pursuant to the terms of the consent, this sale will be the final portfolio sale conducted under the terms of the Single Family Shared-Loss Agreement. Covered loans with UPB totaling approximately $421 million as of September 30, 2018, are expected to be retained by the Bank. The Single Family Shared-Loss Agreement is expected to terminate on May 21, 2019. At September 30, 2018, the Company's estimates of expected cash flows from ACI residential loans and from the FDIC under the Single Family Shared-Loss Agreement underlying the reported balances of accretable yield and future estimated amortization of the FDIC indemnification asset were predicated on the assumption that a final sale of all of the remaining Covered loans would occur in the second quarter of 2019. The acceleration of the expected timing of the sale of a portion of these loans, and expected retention of a portion of the loans beyond the second quarter of 2019 will result in increased amortization of the FDIC indemnification asset in the fourth quarter of 2018. Following the portfolio sale, we expect the balance of the FDIC indemnification asset to be amortized to zero or near zero in the fourth quarter of 2018, as expectations of losses eligible for indemnification with respect to the retained loans prior to termination of the Single Family Shared-Loss Agreement are insignificant. Additionally, the balance of the accretable yield related to the loans retained is expected to increase, in part due to expected collection of additional contractual interest, and that accretion is expected to occur over a longer period of time reflective of the expected lives of the retained loans. Based on our most recent estimates of expected cash flows from the Covered loans, both those expected to be sold in the fourth quarter of 2018 and those expected to be retained, and expected cash flows from the FDIC under the terms of the Single Family Shared-Loss Agreement related to the expected fourth quarter portfolio sale, we estimate accretion related to Covered loans to total approximately $114 million and amortization of the FDIC indemnification asset to total approximately $117 million in the fourth quarter of 2018. Estimated accretion related to the retained loans to be recognized after the fourth quarter of 2018, over the expected lives of those loans, is approximately $302 million . These estimates are based on several assumptions, including but not limited to the estimated price to be received for loans included in the fourth quarter portfolio sale, as well as estimated future prepayment speeds, default rates and loss severity related to the loans retained. As a result, actual results may differ materially from these estimates. Hurricane Michael In October, 2018, Hurricane Michael made landfall in the Florida panhandle as a category 4 hurricane, impacting some areas of Florida and the southeastern United States with significant wind damage, flooding and power outages. While the Company does not have physical operations in areas significantly impacted by the storm, some of the Company's borrowers may have been impacted. The Company is in the process of evaluating the potential impact of the hurricane on the value of collateral underlying our loans and the ability of borrowers to repay their obligations to the Bank. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Accounting Estimates In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and disclosures of contingent assets and liabilities. Actual results could differ significantly from these estimates. Significant estimates include the ALLL, the amount and timing of expected cash flows from covered assets and the FDIC indemnification asset, the fair values of investment securities and other financial instruments and uncertain tax positions. Management has used information provided by third party valuation specialists to assist in the determination of the fair values of investment securities. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements Adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), superseded the revenue recognition requirements in Topic 605, Revenue Recognition , and most industry-specific revenue recognition guidance throughout the Accounting Standards Codification. The amendments in this update affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets unless those contracts are within the scope of other standards. The amendments establish a core principle requiring the recognition of revenue to depict the transfer of goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for such goods or services and require expanded disclosure about revenue from contracts with customers that are within the scope of the standard. Revenue from financial instruments and lease contracts are generally outside the scope of Topic 606 as are revenues that are in the scope of ASC 860 "Transfers and Servicing", ASC 460 "Guarantees" and ASC 815 "Derivatives and Hedging". The Company adopted this standard in the first quarter of 2018 with respect to contracts not completed on the date of adoption using the modified retrospective transition method. Substantially all of the Company's revenues are generated from activities outside the scope of Topic 606; existing revenue recognition policies for contracts with customers that are within the scope of the standard are consistent with the principles in Topic 606. Therefore, there was no impact at adoption to the Company's consolidated financial position, results of operations, or cash flows. ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in the ASU addressed certain aspects of recognition, measurement, presentation and disclosure of certain financial instruments. The main provisions of this ASU that are applicable to the Company are to (1) eliminate the available for sale classification for equity securities and require investments in equity securities (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, provided that equity investments that do not have readily determinable fair values may be re-measured at fair value upon occurrence of an observable price change or recognition of impairment, (2) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, and (3) require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. The amendments also clarified that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available for sale securities in combination with the entity's other deferred tax assets, which is consistent with the Company's previous practice. The Company adopted this ASU in the first quarter of 2018 using the modified retrospective transition method. The cumulative effect adjustment to reclassify unrealized gains on equity securities from AOCI to retained earnings totaled $ 2.2 million , net of tax, at adoption. Unrealized losses on equity securities recognized in earnings totaled $0.1 million and $1.1 million , respectively, for the three and nine months ended September 30, 2018 . ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This amendment provided guidance on eight specific cash flow classification issues where there had been diversity in practice. The provisions of this ASU that are expected to be applicable to the Company include requirements to: (1) classify cash payments for debt prepayment or extinguishment costs to be classified as cash outflows for financing activities, (2) classify proceeds from settlement of insurance claims on the basis of the nature of the loss and (3) require cash payments from settlement of bank-owned life insurance policies to be classified as cash flows from investing activities. The Company adopted this ASU for the first quarter of 2018; the provisions of the ASU were generally consistent with the Company's existing practice, therefore, adoption did not have an impact on the Company's consolidated cash flows. ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The amendments in this ASU allowed a reclassification from AOCI to retained earnings of stranded tax effects in AOCI resulting from enactment of the TCJA that reduced the statutory federal tax rate from 35 percent to 21 percent. The Company’s existing accounting policy was to release stranded tax effects only when the entire portfolio of the type of item that created them is liquidated. This ASU was early adopted effective January 1, 2018 and a cumulative-effect adjustment was recorded to reclassify stranded tax effects totaling $11.1 million from AOCI to retained earnings. |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Recent Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this ASU require a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for leases with terms longer than one year. Accounting applied by lessors is largely unchanged by this ASU. The ASU also will require both qualitative and quantitative disclosures that provide additional information about the amounts recorded in the consolidated financial statements. The amendments in this ASU are effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2018. Early adoption is permitted; however, the Company does not intend to early adopt this ASU. The most significant impact of adoption is expected to be the recognition, as lessee, of new right-of-use assets and lease liabilities on the Consolidated Balance Sheet for real estate leases currently classified as operating leases. Under a package of practical expedients that the Company plans to elect, the Company will not be required to (i) re-assess whether expired or existing contracts contain leases, (ii) re-assess the classification of expired or existing leases, (iii) re-evaluate initial direct costs for existing leases or (iv) separate lease components of certain contracts from non-lease components. The Company also plans to elect the transition method that allows entities the option of applying the provisions of the ASU at the effective date without adjusting the comparative periods presented. Management is in the process of finalizing its evaluation of the impact of adoption of this ASU on its processes and controls. The Company has completed its review of contractual arrangements for embedded leases. The Company has acquired and implemented software to facilitate calculation and reporting of the lease liability and right-of-use asset. Certain accounting policy decisions have been made including use of the incremental borrowing rate to determine the discount rate and assumptions around inclusion of renewals in lease terms. Based on the population of lease contracts existing at September 30, 2018 and an incremental borrowing rate determined as of that date, the Company estimates that a lease liability and related right-of-use asset of approximately $100 million and $90 million , respectively, will be recognized on adoption at January 1, 2019. The amounts actually recognized will be based on terms of contracts in place and an incremental borrowing rate determined at the date of adoption. The Company does not expect the impact of adoption to be material to its consolidated results of operations or cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments. The ASU introduces new guidance which makes substantive changes to the accounting for credit losses. The ASU introduces the CECL model which applies to financial assets subject to credit losses and measured at amortized cost, as well as certain off-balance sheet credit exposures. This includes loans, loan commitments, standby letters of credit, net investments in leases recognized by a lessor and HTM debt securities. The CECL model requires an entity to estimate credit losses expected over the life of an exposure, considering information about historical events, current conditions and reasonable and supportable forecasts, and is generally expected to result in earlier recognition of credit losses. The ASU also modifies certain provisions of the current OTTI model for AFS debt securities. Credit losses on AFS debt securities will be limited to the difference between the security's amortized cost basis and its fair value, and will be recognized through an allowance for credit losses rather than as a direct reduction in amortized cost basis. The ASU also provides for a simplified accounting model for purchased financial assets with more than insignificant credit deterioration since their origination. The ASU requires expanded disclosures including, but not limited to, (i) information about the methods and assumptions used to estimate expected credit losses, including changes in the factors that influenced management's estimate and the reasons for those changes, (ii) for financing receivables and net investment in leases measured at amortized cost, further disaggregation of information about the credit quality of those assets and (iii) a rollforward of the allowance for credit losses for AFS and HTM securities. The amendments in this ASU are effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2019. Early adoption is permitted; however, the Company does not intend to early adopt this ASU. Management is in the process of evaluating the impact of adoption of this ASU on its consolidated financial statements, processes and controls and is not currently able to reasonably estimate the impact of adoption on the Company's consolidated financial position, results of operations or cash flows; however, adoption is likely to lead to significant changes in accounting policies related to, and the methods employed in estimating, the ALLL. It is possible that the impact will be material to the Company's consolidated financial position and results of operations. To date, the Company has completed a gap analysis, adopted and is in the process of executing a detailed implementation plan, established a formal governance structure, selected and implemented credit loss models for key portfolio segments, chosen loss estimation methodologies for key portfolio segments, and is implementing a software solution to serve as its CECL platform. |
Revenue Recognition, Policy [Policy Text Block] | Revenue From Contracts with Customers Revenue from contracts with customers within the scope of Topic 606 " Revenue from Contracts with Customers ", is recognized in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services as the related performance obligations are satisfied. The majority of our revenues, including revenues from loans, leases, investment securities, derivative instruments and letters of credit and from transfers and servicing of financial assets, are excluded from the scope of Topic 606. Deposit service charges and fees is the most significant category of revenue within the scope of the standard. These service charges and fees consist primarily of monthly maintenance fees and other transaction based fees. Revenue is recognized when our performance obligations are complete, generally monthly for account maintenance fees or when a transaction, such as a wire transfer, is completed. Payment is typically received at the time the performance obligation is satisfied. The aggregate amount of revenue that is within the scope of Topic 606 from sources other than deposit service charges and fees is not material. |
Investment, Policy [Policy Text Block] | Investment Securities Investment securities include debt securities and marketable equity securities. Debt securities that the Company has the positive intent and ability to hold to maturity are classified as held to maturity and reported at amortized cost. Debt securities that the Company may not have the intent to hold to maturity are classified as available for sale at the time of acquisition and carried at fair value with unrealized gains and losses, net of tax, excluded from earnings and reported in AOCI. Marketable equity securities with readily determinable fair values are reported at fair value with unrealized gains and losses included in earnings. Equity securities that do not have readily determinable fair values are reported at cost and re-measured at fair value upon occurrence of an observable price change or recognition of impairment. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, c 2018 2017 2018 2017 Basic earnings per common share: Numerator: Net income $ 97,328 $ 67,779 $ 272,463 $ 196,479 Distributed and undistributed earnings allocated to participating securities (3,771 ) (2,525 ) (10,444 ) (7,331 ) Income allocated to common stockholders for basic earnings per common share $ 93,557 $ 65,254 $ 262,019 $ 189,148 Denominator: Weighted average common shares outstanding 105,063,770 106,809,381 105,914,807 106,488,396 Less average unvested stock awards (1,178,982 ) (1,101,485 ) (1,170,209 ) (1,102,381 ) Weighted average shares for basic earnings per common share 103,884,788 105,707,896 104,744,598 105,386,015 Basic earnings per common share $ 0.90 $ 0.62 $ 2.50 $ 1.79 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 93,557 $ 65,254 $ 262,019 $ 189,148 Adjustment for earnings reallocated from participating securities 13 6 37 21 Income used in calculating diluted earnings per common share $ 93,570 $ 65,260 $ 262,056 $ 189,169 Denominator: Weighted average shares for basic earnings per common share 103,884,788 105,707,896 104,744,598 105,386,015 Dilutive effect of stock options and executive share-based awards 499,431 365,286 512,801 479,459 Weighted average shares for diluted earnings per common share 104,384,219 106,073,182 105,257,399 105,865,474 Diluted earnings per common share $ 0.90 $ 0.62 $ 2.49 $ 1.79 |
Potentially Dilutive Securities Outstanding Categorized | The following potentially dilutive securities were outstanding at September 30, 2018 and 2017 , but excluded from the calculation of diluted earnings per common share for the periods indicated because their inclusion would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Unvested shares and share units 1,639,183 1,111,300 1,639,183 1,111,300 Stock options and warrants 1,850,279 1,850,279 1,850,279 1,850,279 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | Investment securities include investment securities available for sale, marketable equity securities, and investment securities held to maturity. The investment securities available for sale portfolio consisted of the following at the dates indicated (in thousands): September 30, 2018 Amortized Cost Gross Unrealized Fair Value Gains Losses Investment securities available for sale: U.S. Treasury securities $ 34,874 $ — $ (28 ) $ 34,846 U.S. Government agency and sponsored enterprise residential MBS 1,916,210 19,275 (5,655 ) 1,929,830 U.S. Government agency and sponsored enterprise commercial MBS 240,393 734 (1,997 ) 239,130 Private label residential MBS and CMOs 1,016,659 10,096 (18,215 ) 1,008,540 Private label commercial MBS 1,167,228 6,374 (5,729 ) 1,167,873 Single family rental real estate-backed securities 525,061 327 (5,268 ) 520,120 Collateralized loan obligations 1,186,639 1,527 (839 ) 1,187,327 Non-mortgage asset-backed securities 208,674 1,119 (2,635 ) 207,158 State and municipal obligations 426,686 2,640 (6,551 ) 422,775 SBA securities 425,388 7,017 (625 ) 431,780 Other debt securities 1,560 4,104 — 5,664 $ 7,149,372 $ 53,213 $ (47,542 ) $ 7,155,043 December 31, 2017 Amortized Cost Gross Unrealized Fair Value Gains Losses Investment securities available for sale: U.S. Treasury securities $ 24,981 $ — $ (28 ) $ 24,953 U.S. Government agency and sponsored enterprise residential MBS 2,043,373 16,094 (1,440 ) 2,058,027 U.S. Government agency and sponsored enterprise commercial MBS 233,522 1,330 (344 ) 234,508 Private label residential MBS and CMOs 613,732 16,473 (1,958 ) 628,247 Private label commercial MBS 1,033,022 13,651 (258 ) 1,046,415 Single family rental real estate-backed securities 559,741 3,823 (858 ) 562,706 Collateralized loan obligations 720,429 3,252 — 723,681 Non-mortgage asset-backed securities 119,939 1,808 — 121,747 Marketable equity securities 59,912 3,631 — 63,543 State and municipal obligations 640,511 17,606 (914 ) 657,203 SBA securities 534,534 16,208 (60 ) 550,682 Other debt securities 4,090 5,030 — 9,120 $ 6,587,786 $ 98,906 $ (5,860 ) $ 6,680,832 |
Investments Classified by Contractual Maturity Date | At September 30, 2018 , contractual maturities of investment securities available for sale, adjusted for anticipated prepayments of mortgage-backed and other pass-through securities, were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 757,130 $ 759,520 Due after one year through five years 3,551,176 3,556,350 Due after five years through ten years 2,457,655 2,453,558 Due after ten years 383,411 385,615 $ 7,149,372 $ 7,155,043 |
Gain on Investment Securities, net | The following table provides information about gains and losses on investment securities for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Proceeds from sale of investment securities available for sale $ 102,238 $ 399,430 $ 938,555 $ 827,353 Gross realized gains: Investment securities available for sale $ 521 $ 28,261 $ 6,561 $ 30,553 Gross realized losses: Investment securities available for sale — (1,330 ) (2,514 ) (1,359 ) Net realized gain 521 26,931 4,047 29,194 Net unrealized losses on marketable equity securities recognized in earnings (89 ) — (1,109 ) — Gain on investment securities, net $ 432 $ 26,931 $ 2,938 $ 29,194 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The following tables present the aggregate fair value and the aggregate amount by which amortized cost exceeded fair value for investment securities available for sale in unrealized loss positions, aggregated by investment category and length of time that individual securities had been in continuous unrealized loss positions at the dates indicated (in thousands): September 30, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 34,846 $ (28 ) $ — $ — $ 34,846 $ (28 ) U.S. Government agency and sponsored enterprise residential MBS 478,707 (4,139 ) 39,045 (1,516 ) 517,752 (5,655 ) U.S. Government agency and sponsored enterprise commercial MBS 121,004 (1,524 ) 7,004 (473 ) 128,008 (1,997 ) Private label residential MBS and CMOs 800,549 (16,545 ) 45,644 (1,670 ) 846,193 (18,215 ) Private label commercial MBS 181,266 (3,999 ) 31,092 (1,730 ) 212,358 (5,729 ) Single family rental real estate-backed securities 293,384 (4,833 ) 13,129 (435 ) 306,513 (5,268 ) Collateralized loan obligations 335,018 (839 ) — — 335,018 (839 ) Non-mortgage asset-backed securities 178,454 (2,635 ) — — 178,454 (2,635 ) State and municipal obligations 275,664 (6,040 ) 16,110 (511 ) 291,774 (6,551 ) SBA securities 116,748 (591 ) 13,399 (34 ) 130,147 (625 ) $ 2,815,640 $ (41,173 ) $ 165,423 $ (6,369 ) $ 2,981,063 $ (47,542 ) December 31, 2017 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 24,953 $ (28 ) $ — $ — $ 24,953 $ (28 ) U.S. Government agency and sponsored enterprise residential MBS 471,120 (1,141 ) 13,028 (299 ) 484,148 (1,440 ) U.S. Government agency and sponsored enterprise commercial MBS 26,265 (344 ) — — 26,265 (344 ) Private label residential MBS and CMOs 330,068 (1,858 ) 5,083 (100 ) 335,151 (1,958 ) Private label commercial MBS 81,322 (258 ) — — 81,322 (258 ) Single family rental real estate-backed securities 94,750 (858 ) — — 94,750 (858 ) State and municipal obligations 30,715 (49 ) 60,982 (865 ) 91,697 (914 ) SBA securities 21,300 (10 ) 15,427 (50 ) 36,727 (60 ) $ 1,080,493 $ (4,546 ) $ 94,520 $ (1,314 ) $ 1,175,013 $ (5,860 ) |
Loans and Allowance for Loan _2
Loans and Allowance for Loan and Lease Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Financing Receivable, Impaired [Line Items] | |
Schedule of Loans Categorized | Loans consisted of the following at the dates indicated (dollars in thousands): September 30, 2018 Covered Loans Percent of Total Non-Covered Loans ACI Non-ACI Total Residential and other consumer: 1-4 single family residential $ 4,322,915 $ 344,078 $ 18,779 $ 4,685,772 21.4 % Government insured residential 163,241 — — 163,241 0.7 % Home equity loans and lines of credit 1,715 — — 1,715 — % Other consumer loans 16,796 — — 16,796 0.1 % 4,504,667 344,078 18,779 4,867,524 22.2 % Commercial: Multi-family 2,760,856 — — 2,760,856 12.6 % Non-owner occupied commercial real estate 4,579,278 — — 4,579,278 21.0 % Construction and land 245,077 — — 245,077 1.1 % Owner occupied commercial real estate 2,094,371 — — 2,094,371 9.6 % Commercial and industrial 4,720,532 — — 4,720,532 21.6 % Commercial lending subsidiaries 2,611,920 — — 2,611,920 11.9 % 17,012,034 — — 17,012,034 77.8 % Total loans 21,516,701 344,078 18,779 21,879,558 100.0 % Premiums, discounts and deferred fees and costs, net 42,703 — (3,090 ) 39,613 Loans including premiums, discounts and deferred fees and costs 21,559,404 344,078 15,689 21,919,171 Allowance for loan and lease losses (124,726 ) — (14 ) (124,740 ) Loans, net $ 21,434,678 $ 344,078 $ 15,675 $ 21,794,431 December 31, 2017 Covered Loans Percent of Total Non-Covered Loans ACI Non-ACI Total Residential and other consumer: 1-4 single family residential $ 4,089,994 $ 479,068 $ 27,198 $ 4,596,260 21.5 % Government insured residential 26,820 — — 26,820 0.1 % Home equity loans and lines of credit 1,654 — — 1,654 — % Other consumer loans 20,512 — — 20,512 0.1 % 4,138,980 479,068 27,198 4,645,246 21.7 % Commercial: Multi-family 3,215,697 — — 3,215,697 15.0 % Non-owner occupied commercial real estate 4,485,276 — — 4,485,276 21.0 % Construction and land 310,999 — — 310,999 1.5 % Owner occupied commercial real estate 2,014,908 — — 2,014,908 9.4 % Commercial and industrial 4,145,785 — — 4,145,785 19.4 % Commercial lending subsidiaries 2,553,576 — — 2,553,576 12.0 % 16,726,241 — — 16,726,241 78.3 % Total loans 20,865,221 479,068 27,198 21,371,487 100.0 % Premiums, discounts and deferred fees and costs, net 48,165 — (3,148 ) 45,017 Loans including premiums, discounts and deferred fees and costs 20,913,386 479,068 24,050 21,416,504 Allowance for loan and lease losses (144,537 ) — (258 ) (144,795 ) Loans, net $ 20,768,849 $ 479,068 $ 23,792 $ 21,271,709 |
Accretable Yield Rollfoward [Table Text Block] | hanges in the accretable yield on ACI loans for the nine months ended September 30, 2018 and the year ended December 31, 2017 were as follows (in thousands): Balance at December 31, 2016 $ 675,385 Reclassifications from non-accretable difference, net 81,501 Accretion (301,827 ) Balance at December 31, 2017 455,059 Reclassifications from non-accretable difference, net 78,561 Accretion (249,609 ) Balance at September 30, 2018 $ 284,011 |
Covered Loan Sales - Residential [Table Text Block] | During the periods indicated, the Company sold covered residential loans to third parties on a non-recourse basis. The following table summarizes the impact of these transactions (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2018 2017 UPB of loans sold $ 154,415 $ 279,764 $ 123,737 Cash proceeds, net of transaction costs $ 129,144 $ 238,773 $ 98,404 Recorded investment in loans sold 124,107 234,034 99,986 Gain (loss) on sale of covered loans, net $ 5,037 $ 4,739 $ (1,582 ) Gain on FDIC indemnification, net $ 5,449 $ 5,692 $ 1,266 |
Allowance for Credit Losses on Financing Receivables | Activity in the ALLL is summarized as follows for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Unallocated Total Beginning balance $ 10,338 $ 124,633 $ 134,971 $ 13,550 $ 142,098 $ — $ 155,648 Provision for (recovery of) loan losses: Covered loans (50 ) — (50 ) 268 (7 ) — 261 Non-covered loans 290 960 1,250 363 32,230 5,000 37,593 Total provision 240 960 1,200 631 32,223 5,000 37,854 Charge-offs: . Covered loans (740 ) — (740 ) — — — — Non-covered loans — (12,340 ) (12,340 ) — (36,028 ) — (36,028 ) Total charge-offs (740 ) (12,340 ) (13,080 ) — (36,028 ) — (36,028 ) Recoveries: Covered loans 214 — 214 31 7 — 38 Non-covered loans 251 1,184 1,435 8 1,053 — 1,061 Total recoveries 465 1,184 1,649 39 1,060 — 1,099 Ending balance $ 10,303 $ 114,437 $ 124,740 $ 14,220 $ 139,353 $ 5,000 $ 158,573 Nine Months Ended September 30, 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Unallocated Total Beginning balance $ 10,720 $ 134,075 $ 144,795 $ 11,503 $ 141,450 $ — $ 152,953 Provision for (recovery of) loan losses: Covered loans 517 — 517 2,738 (45 ) — 2,693 Non-covered loans (183 ) 13,008 12,825 (52 ) 55,932 5,000 60,880 Total provision 334 13,008 13,342 2,686 55,887 5,000 63,573 Charge-offs: Covered loans (979 ) — (979 ) (55 ) — — (55 ) Non-covered loans (265 ) (34,736 ) (35,001 ) — (61,034 ) — (61,034 ) Total charge-offs (1,244 ) (34,736 ) (35,980 ) (55 ) (61,034 ) — (61,089 ) Recoveries: Covered loans 218 — 218 65 45 — 110 Non-covered loans 275 2,090 2,365 21 3,005 — 3,026 Total recoveries 493 2,090 2,583 86 3,050 — 3,136 Ending balance $ 10,303 $ 114,437 $ 124,740 $ 14,220 $ 139,353 $ 5,000 $ 158,573 The following table presents information about the balance of the ALLL and related loans at the dates indicated (in thousands): September 30, 2018 December 31, 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Allowance for loan and lease losses: Ending balance $ 10,303 $ 114,437 $ 124,740 $ 10,720 $ 134,075 $ 144,795 Covered loans: Ending balance $ 14 $ — $ 14 $ 258 $ — $ 258 Ending balance: non-ACI loans individually evaluated for impairment $ 14 $ — $ 14 $ 118 $ — $ 118 Ending balance: non-ACI loans collectively evaluated for impairment $ — $ — $ — $ 140 $ — $ 140 Non-covered loans: Ending balance $ 10,289 $ 114,437 $ 124,726 $ 10,462 $ 134,075 $ 144,537 Ending balance: loans individually evaluated for impairment $ 143 $ 23,050 $ 23,193 $ 63 $ 18,776 $ 18,839 Ending balance: loans collectively evaluated for impairment $ 10,146 $ 91,387 $ 101,533 $ 10,399 $ 115,299 $ 125,698 Loans: Covered loans: Ending balance $ 359,767 $ — $ 359,767 $ 503,118 $ — $ 503,118 Ending balance: non-ACI loans individually evaluated for impairment $ 956 $ — $ 956 $ 2,221 $ — $ 2,221 Ending balance: non-ACI loans collectively evaluated for impairment $ 14,733 $ — $ 14,733 $ 21,829 $ — $ 21,829 Ending balance: ACI loans $ 344,078 $ — $ 344,078 $ 479,068 $ — $ 479,068 Non-covered loans: Ending balance $ 4,563,578 $ 16,995,826 $ 21,559,404 $ 4,196,080 $ 16,717,306 $ 20,913,386 Ending balance: loans, other than ACI loans, individually evaluated for impairment $ 6,218 $ 191,340 $ 197,558 $ 1,234 $ 173,706 $ 174,940 Ending balance: loans, other than ACI loans, collectively evaluated for impairment $ 4,557,360 $ 16,777,108 $ 21,334,468 $ 4,194,846 $ 16,509,824 $ 20,704,670 Ending balance: ACI loans $ — $ 27,378 $ 27,378 $ — $ 33,776 $ 33,776 |
Impaired Financing Receivables | The table below presents information about loans or ACI pools identified as impaired at the dates indicated (in thousands): September 30, 2018 December 31, 2017 Recorded Investment UPB Related Specific Allowance Recorded Investment UPB Related Specific Allowance Non-covered loans: With no specific allowance recorded: 1-4 single family residential (1) $ 4,241 $ 4,138 $ — $ 120 $ 122 $ — Multi-family 6,549 6,580 — — — — Non-owner occupied commercial real estate 14,049 13,965 — 10,922 10,838 — Construction and land 10,166 10,169 — 1,175 1,175 — Owner occupied commercial real estate 9,860 9,858 — 22,002 22,025 — Commercial and industrial Taxi medallion loans 10,586 10,585 — 13,560 13,559 — Other commercial and industrial 16,786 16,795 — 345 374 — Commercial lending subsidiaries 1,923 1,920 — — — — With a specific allowance recorded: 1-4 single family residential (1) 1,977 1,952 143 1,114 1,090 63 Multi-family 19,280 19,281 3,144 23,173 23,175 1,732 Owner occupied commercial real estate 2,768 2,768 5 3,075 3,079 2,960 Non-owner occupied commercial real estate 1,689 1,690 240 — — — Commercial and industrial Taxi medallion loans 69,569 69,570 10,957 92,507 92,508 12,214 Other commercial and industrial 6,996 6,998 1,705 3,626 3,624 1,540 Commercial lending subsidiaries 21,119 21,029 6,999 3,321 3,296 330 Total: Residential and other consumer $ 6,218 $ 6,090 $ 143 $ 1,234 $ 1,212 $ 63 Commercial 191,340 191,208 23,050 173,706 173,653 18,776 $ 197,558 $ 197,298 $ 23,193 $ 174,940 $ 174,865 $ 18,839 Covered loans: Non-ACI loans: With no specific allowance recorded: 1-4 single family residential $ — $ — $ — $ 1,061 $ 1,203 $ — With a specific allowance recorded: 1-4 single family residential 956 1,145 14 1,160 1,314 118 $ 956 $ 1,145 $ 14 $ 2,221 $ 2,517 $ 118 (1) Includes government insured residential loans at September 30, 2018 and December 31, 2017 . Interest income recognized on impaired loans and pools was insignificant for the three and nine months ended September 30, 2018 and approximately $2.9 million and $8.3 million for the three and nine months ended September 30, 2017 . The following table presents the average recorded investment in impaired loans for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Non-Covered Loans Covered Non-ACI Loans Non-Covered Loans Covered Non-ACI Residential and other consumer: 1-4 single family residential $ 5,745 $ 1,906 $ 962 $ 2,304 Home equity loans and lines of credit — — — 9,533 5,745 $ 1,906 962 $ 11,837 Commercial: Multi-family 26,041 1,359 Non-owner occupied commercial real estate 14,577 8,216 Construction and land 7,766 2,797 Owner occupied commercial real estate 14,004 20,579 Commercial and industrial Taxi medallion loans 83,683 123,867 Other commercial and industrial 22,179 42,479 Commercial lending subsidiaries 12,562 21,398 180,812 220,695 $ 186,557 $ 221,657 Nine Months Ended September 30, 2018 2017 Non-Covered Loans Covered Non-ACI Loans Non-Covered Loans Covered Non-ACI Residential and other consumer: 1-4 single family residential $ 4,228 $ 2,164 $ 800 $ 2,369 Home equity loans and lines of credit — — — 9,638 4,228 $ 2,164 800 $ 12,007 Commercial: Multi-family 25,674 1,816 Non-owner occupied commercial real estate 13,858 4,056 Construction and land 5,386 3,317 Owner occupied commercial real estate 17,451 18,872 Commercial and industrial Taxi medallion loans 92,893 107,529 Other commercial and industrial 15,559 43,308 Commercial lending subsidiaries 5,398 27,202 176,219 206,100 $ 180,447 $ 206,900 In addition to the above, a pool of ACI home equity loans and lines of credit was impaired during the three and nine months ended September 30, 2017 . All of the loans from this pool were sold in the fourth quarter of 2017. The average balance of impaired ACI home equity loans and lines of credit for the three and nine months ended September 30, 2017 was $5.2 million and $4.2 million , respectively. Activity in the ALLL is summarized as follows for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Unallocated Total Beginning balance $ 10,338 $ 124,633 $ 134,971 $ 13,550 $ 142,098 $ — $ 155,648 Provision for (recovery of) loan losses: Covered loans (50 ) — (50 ) 268 (7 ) — 261 Non-covered loans 290 960 1,250 363 32,230 5,000 37,593 Total provision 240 960 1,200 631 32,223 5,000 37,854 Charge-offs: . Covered loans (740 ) — (740 ) — — — — Non-covered loans — (12,340 ) (12,340 ) — (36,028 ) — (36,028 ) Total charge-offs (740 ) (12,340 ) (13,080 ) — (36,028 ) — (36,028 ) Recoveries: Covered loans 214 — 214 31 7 — 38 Non-covered loans 251 1,184 1,435 8 1,053 — 1,061 Total recoveries 465 1,184 1,649 39 1,060 — 1,099 Ending balance $ 10,303 $ 114,437 $ 124,740 $ 14,220 $ 139,353 $ 5,000 $ 158,573 Nine Months Ended September 30, 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Unallocated Total Beginning balance $ 10,720 $ 134,075 $ 144,795 $ 11,503 $ 141,450 $ — $ 152,953 Provision for (recovery of) loan losses: Covered loans 517 — 517 2,738 (45 ) — 2,693 Non-covered loans (183 ) 13,008 12,825 (52 ) 55,932 5,000 60,880 Total provision 334 13,008 13,342 2,686 55,887 5,000 63,573 Charge-offs: Covered loans (979 ) — (979 ) (55 ) — — (55 ) Non-covered loans (265 ) (34,736 ) (35,001 ) — (61,034 ) — (61,034 ) Total charge-offs (1,244 ) (34,736 ) (35,980 ) (55 ) (61,034 ) — (61,089 ) Recoveries: Covered loans 218 — 218 65 45 — 110 Non-covered loans 275 2,090 2,365 21 3,005 — 3,026 Total recoveries 493 2,090 2,583 86 3,050 — 3,136 Ending balance $ 10,303 $ 114,437 $ 124,740 $ 14,220 $ 139,353 $ 5,000 $ 158,573 |
Schedule of Recorded Investment in Loans, Other than ACI Loans, on Non-Accrual Status | The following table presents the recorded investment in loans on non-accrual status as of dates indicated (in thousands): September 30, 2018 December 31, 2017 Non-Covered Loans Covered Non-Covered Loans Covered Non-ACI Loans Residential and other consumer: 1-4 single family residential $ 8,021 $ 167 $ 9,705 $ 1,341 Other consumer loans 1,956 — 821 — 9,977 $ 167 10,526 $ 1,341 Commercial: Multi-family 25,829 — Non-owner occupied commercial real estate 15,364 12,716 Construction and land 10,166 1,175 Owner occupied commercial real estate 17,513 29,020 Commercial and industrial Taxi medallion loans 80,155 106,067 Other commercial and industrial 24,036 7,049 Commercial lending subsidiaries 22,438 3,512 195,501 159,539 $ 205,478 $ 170,065 |
Financing Receivable Credit Quality Indicators | The following tables summarize key indicators of credit quality for the Company's loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): 1-4 Single Family Residential credit exposure for non-covered loans, excluding government insured residential loans, based on original LTV and FICO score: September 30, 2018 FICO LTV 720 or less 721 - 740 741 - 760 761 or greater Total 60% or less $ 103,798 $ 122,757 $ 200,142 $ 810,505 $ 1,237,202 60% - 70% 114,254 108,560 171,213 601,041 995,068 70% - 80% 155,595 197,569 360,631 1,221,788 1,935,583 More than 80% 16,428 34,166 33,830 128,448 212,872 $ 390,075 $ 463,052 $ 765,816 $ 2,761,782 $ 4,380,725 December 31, 2017 FICO LTV 720 or less 721 - 740 741 - 760 761 or greater Total 60% or less $ 91,965 $ 117,318 $ 185,096 $ 815,792 $ 1,210,171 60% - 70% 100,866 103,387 147,541 590,493 942,287 70% - 80% 149,209 183,064 324,884 1,139,902 1,797,059 More than 80% 16,116 30,408 28,149 121,689 196,362 $ 358,156 $ 434,177 $ 685,670 $ 2,667,876 $ 4,145,879 Commercial credit exposure, based on internal risk rating: September 30, 2018 Commercial and Industrial Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Taxi Medallion Loans Other Commercial and Industrial Pinnacle Bridge Total Pass $ 2,690,193 $ 4,499,176 $ 234,453 $ 2,048,491 $ — $ 4,528,964 $ 1,482,125 $ 1,094,950 $ 16,578,352 Special mention 6,459 3,288 — 8,774 — 43,732 — 1,144 63,397 Substandard 66,346 65,125 10,166 34,713 80,155 54,198 — 34,715 345,418 Doubtful — — — — — 1,496 — 7,163 8,659 $ 2,762,998 $ 4,567,589 $ 244,619 $ 2,091,978 $ 80,155 $ 4,628,390 $ 1,482,125 $ 1,137,972 $ 16,995,826 December 31, 2017 Commercial and Industrial Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Taxi Medallion Loans Other Commercial and Industrial Pinnacle Bridge Total Pass $ 3,124,819 $ 4,360,827 $ 305,043 $ 1,954,464 $ — $ 3,965,241 $ 1,524,622 $ 954,376 $ 16,189,392 Special mention 34,837 33,094 — 22,161 — 37,591 — 55,551 183,234 Substandard 59,297 80,880 5,441 33,145 104,682 27,010 — 27,950 338,405 Doubtful — — — 2,972 1,385 1,918 — — 6,275 $ 3,218,953 $ 4,474,801 $ 310,484 $ 2,012,742 $ 106,067 $ 4,031,760 $ 1,524,622 $ 1,037,877 $ 16,717,306 |
Schedule of Past Due Financing Receivables | The following table presents an aging of loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): September 30, 2018 December 31, 2017 Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total Non-covered loans: 1-4 single family residential $ 4,365,863 $ 6,842 $ 3,102 $ 4,918 $ 4,380,725 $ 4,121,624 $ 15,613 $ 4,941 $ 3,701 $ 4,145,879 Government insured residential 24,804 3,606 7,141 128,823 164,374 23,455 1,611 1,153 1,855 28,074 Home equity loans and lines of credit 1,694 21 — — 1,715 1,633 21 — — 1,654 Other consumer loans 13,071 2,035 — 1,658 16,764 19,958 15 — 500 20,473 Multi-family 2,762,998 — — — 2,762,998 3,218,953 — — — 3,218,953 Non-owner occupied commercial real estate 4,561,612 — 1,080 4,897 4,567,589 4,464,967 7,549 — 2,285 4,474,801 Construction and land 238,573 — 4,950 1,096 244,619 309,309 — — 1,175 310,484 Owner occupied commercial real estate 2,078,599 1,527 1,271 10,581 2,091,978 2,004,397 1,292 499 6,554 2,012,742 Commercial and industrial Taxi medallion loans 63,236 263 3,294 13,362 80,155 88,394 6,048 3,333 8,292 106,067 Other commercial and industrial 4,609,194 269 16,336 2,591 4,628,390 4,025,784 4,291 291 1,394 4,031,760 Commercial lending subsidiaries Pinnacle 1,482,125 — — — 1,482,125 1,524,622 — — — 1,524,622 Bridge 1,136,744 — — 1,228 1,137,972 1,037,025 852 — — 1,037,877 $ 21,338,513 $ 14,563 $ 37,174 $ 169,154 $ 21,559,404 $ 20,840,121 $ 37,292 $ 10,217 $ 25,756 $ 20,913,386 Covered loans: Non-ACI loans: 1-4 single family residential $ 15,442 $ 80 $ 67 $ 100 $ 15,689 $ 21,106 $ 1,603 $ — $ 1,341 $ 24,050 ACI loans: 1-4 single family residential $ 339,176 $ 4,256 $ 410 $ 236 $ 344,078 $ 448,125 $ 10,388 $ 2,719 $ 17,836 $ 479,068 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table summarizes loans that were modified in TDRs during the periods indicated, as well as loans modified during the twelve months preceding September 30, 2018 and 2017 , that experienced payment defaults during the periods indicated (dollars in thousands): Three Months Ended September 30, 2018 2017 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential (1) 11 $ 956 4 $ 311 — $ — 2 $ 269 Non-owner occupied commercial real estate 2 3,037 — — — — — — Commercial and industrial Taxi medallion loans 1 217 1 215 15 5,439 6 2,105 Other commercial and industrial 2 3,953 — — 1 978 — — 16 $ 8,163 5 $ 526 16 $ 6,417 8 $ 2,374 Covered loans: Non-ACI loans: Home equity loans and lines of credit — $ — — $ — — $ — 1 $ 70 — $ — — $ — — $ — 1 $ 70 Nine Months Ended September 30, 2018 2017 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential (1) 24 $ 4,986 5 $ 411 4 $ 351 2 $ 269 Non-owner occupied commercial real estate 2 3,037 — — 1 5,389 — — Owner occupied commercial real estate — — — — 2 4,522 — — Commercial and industrial Taxi medallion loans 7 1,418 1 215 97 48,692 8 3,509 Other commercial and industrial 3 4,117 — — 14 20,860 — — Commercial lending subsidiaries — — — — 1 12,810 — — 36 $ 13,558 6 $ 626 119 $ 92,624 10 $ 3,778 Covered loans: Non-ACI loans: Home equity loans and lines of credit — $ — — $ — 5 $ 939 1 $ 70 — $ — — $ — 5 $ 939 1 $ 70 (1) Includes government insured residential loans modified during the three and nine months ended September 30, 2018 and 2017 . |
FDIC Indemnification Asset (Tab
FDIC Indemnification Asset (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
FDIC Indemnification Asset [Abstract] | |
Summary of the Gains and Losses Associated with Covered Assets | The following tables summarize the components of the gains and losses associated with covered assets, along with the related additions to or reductions in the amounts recoverable from the FDIC under the Loss Sharing Agreements, as reflected in the consolidated statements of income for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Transaction Net Gain (Loss) on FDIC Net Impact Transaction Net Loss on FDIC Net Impact Recovery of (provision for) losses on covered loans $ 50 $ (40 ) $ 10 $ (261 ) $ 215 $ (46 ) Income from resolution of covered assets, net 3,134 (2,532 ) 602 6,400 (5,082 ) 1,318 Gain on sale of covered loans 5,037 5,449 10,486 — — — Loss on covered OREO (260 ) 213 (47 ) (35 ) 29 (6 ) $ 7,961 $ 3,090 $ 11,051 $ 6,104 $ (4,838 ) $ 1,266 Nine Months Ended September 30, 2018 2017 Transaction Net Loss on FDIC Net Impact Transaction Net Loss on FDIC Net Impact Provision for losses on covered loans $ (517 ) $ 413 $ (104 ) $ (2,693 ) $ 2,095 $ (598 ) Income from resolution of covered assets, net 10,689 (8,592 ) 2,097 22,066 (17,591 ) 4,475 Gain (loss) on sale of covered loans 4,739 5,692 10,431 (1,582 ) 1,266 (316 ) Loss on covered OREO (796 ) 562 (234 ) (65 ) 56 (9 ) $ 14,115 $ (1,925 ) $ 12,190 $ 17,726 $ (14,174 ) $ 3,552 |
Changes in the FDIC Indemnification Asset | Changes in the FDIC indemnification asset for the nine months ended September 30, 2018 and the year ended December 31, 2017 , were as follows (in thousands): Balance at December 31, 2016 $ 515,910 Amortization (176,466 ) Reduction for claims filed (21,589 ) Net loss on FDIC indemnification (22,220 ) Balance at December 31, 2017 295,635 Amortization (132,852 ) Reduction for claims filed (8,341 ) Net loss on FDIC indemnification (1,925 ) Balance at September 30, 2018 $ 152,517 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Interest Rate Contract Derivative Financial Instruments and Related Hedged Items | The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands): September 30, 2018 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.32% 3-Month Libor 4.4 $ 2,596,000 Other assets / Other liabilities $ 6,763 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.96% Indexed to 1-month Libor 5.9 1,051,884 Other assets / Other liabilities 26,933 (3,686 ) Pay-variable interest rate swaps Indexed to 1-month Libor 3.96% 5.9 1,051,884 Other assets / Other liabilities 4,211 (34,581 ) Interest rate caps purchased, indexed to 1-month Libor 3.27% 1.1 124,915 Other assets 53 — Interest rate caps sold, indexed to 1-month Libor 3.27% 1.1 124,915 Other liabilities — (53 ) $ 4,949,598 $ 37,960 $ (38,320 ) December 31, 2017 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 1.77% 3-Month Libor 4.3 $ 2,046,000 Other assets / Other liabilities $ 2,350 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.87% Indexed to 1-month Libor 6.4 1,028,041 Other assets / Other liabilities 10,856 (13,173 ) Pay-variable interest rate swaps Indexed to 1-month Libor 3.87% 6.4 1,028,041 Other assets / Other liabilities 14,410 (12,189 ) Interest rate caps purchased, indexed to 1-month Libor 2.81% 1.3 145,354 Other assets 11 — Interest rate caps sold, indexed to 1-month Libor 2.81% 1.3 145,354 Other liabilities — (11 ) $ 4,392,790 $ 27,627 $ (25,373 ) |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table provides information about the amount of gain (loss) related to derivatives designated as cash flow hedges reclassified from AOCI into interest expense for the periods indicated (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Location of Gain (Loss) Reclassified from AOCI into Income Interest rate contracts $ 1,050 $ (2,001 ) $ 839 $ (7,463 ) Interest expense on borrowings |
Schedule of Interest Rate Swaps Subject to Master Netting Agreements | The Company does not offset assets and liabilities under master netting agreements for financial reporting purposes. Information on interest rate swaps subject to these agreements is as follows at the dates indicated (in thousands): September 30, 2018 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 33,749 $ — $ 33,749 $ (3,432 ) $ (30,306 ) $ 11 Derivative liabilities (3,686 ) — (3,686 ) 3,432 169 (85 ) $ 30,063 $ — $ 30,063 $ — $ (30,137 ) $ (74 ) December 31, 2017 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 13,217 $ — $ 13,217 $ (7,996 ) $ (5,221 ) $ — Derivative liabilities (13,173 ) — (13,173 ) 7,996 4,962 (215 ) $ 44 $ — $ 44 $ — $ (259 ) $ (215 ) |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Schedule of Changes in AOCI | Changes in other comprehensive income are summarized as follows for the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ (24,690 ) $ 6,543 $ (18,147 ) $ 14,144 $ (5,587 ) $ 8,557 Amounts reclassified to gain on investment securities available for sale, net (520 ) 138 (382 ) (26,931 ) 10,638 (16,293 ) Net change in unrealized gains on investment securities available for sale (25,210 ) 6,681 (18,529 ) (12,787 ) 5,051 (7,736 ) Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period 14,335 (3,799 ) 10,536 (281 ) 111 (170 ) Amounts reclassified to interest expense on borrowings (1,050 ) 278 (772 ) 2,001 (791 ) 1,210 Net change in unrealized losses on derivative instruments 13,285 (3,521 ) 9,764 1,720 (680 ) 1,040 Other comprehensive loss $ (11,925 ) $ 3,160 $ (8,765 ) $ (11,067 ) $ 4,371 $ (6,696 ) Nine Months Ended September 30, 2018 2017 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ (79,697 ) $ 21,120 $ (58,577 ) $ 54,258 $ (21,432 ) $ 32,826 Amounts reclassified to gain on investment securities available for sale, net (4,047 ) 1,073 (2,974 ) (29,194 ) 11,532 (17,662 ) Net change in unrealized gains on investment securities available for sale (83,744 ) 22,193 (61,551 ) 25,064 (9,900 ) 15,164 Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period 54,660 (14,485 ) 40,175 (13,780 ) 5,443 (8,337 ) Amounts reclassified to interest expense on borrowings (839 ) 222 (617 ) 7,463 (2,948 ) 4,515 Net change in unrealized losses on derivative instruments 53,821 (14,263 ) 39,558 (6,317 ) 2,495 (3,822 ) Other comprehensive income (loss) $ (29,923 ) $ 7,930 $ (21,993 ) $ 18,747 $ (7,405 ) $ 11,342 |
Schedule of the Categories of AOCI and Changes Therein | The categories of AOCI and changes therein are presented below for the periods indicated (in thousands): Unrealized Gain (Loss) on Investment Securities Available for Sale Unrealized Gain (Loss) on Derivative Instruments Total Balance at December 31, 2017 $ 56,534 $ (1,548 ) $ 54,986 Cumulative effect of adoption of new accounting standards 9,187 (285 ) 8,902 Other comprehensive loss (61,551 ) 39,558 (21,993 ) Balance at September 30, 2018 $ 4,170 $ 37,725 $ 41,895 Balance at December 31, 2016 $ 47,057 $ (5,810 ) $ 41,247 Other comprehensive income 15,164 (3,822 ) 11,342 Balance at September 30, 2017 $ 62,221 $ (9,632 ) $ 52,589 |
Equity Based Compensation (Tabl
Equity Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Other Share-based Compensation, Activity [Table Text Block] | A summary of activity related to executive share-based awards follows for the periods indicated: RSU PSU Unvested executive share-based awards outstanding, December 31, 2017 91,168 105,721 Granted 52,026 52,026 Unvested executive share-based awards outstanding, September 30, 2018 143,194 157,747 Unvested executive share-based awards outstanding, December 31, 2016 78,561 57,873 Granted 47,848 47,848 Unvested executive share-based awards outstanding, September 30, 2017 126,409 105,721 The total liability for the share units was $5.7 million at September 30, 2018 . The total unrecognized compensation cost of $5.2 million for these share units at September 30, 2018 will be recognized over a weighted average remaining period of 1.82 years . |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Note 9 Equity Based and Other Compensation Plans Share Awards Unvested share awards A summary of activity related to unvested share awards follows for the periods indicated: Number of Share Awards Weighted Average Grant Date Fair Value Unvested share awards outstanding, December 31, 2017 1,108,477 $ 36.06 Granted 666,277 40.32 Vested (529,469 ) 34.64 Canceled or forfeited (72,465 ) 38.77 Unvested share awards outstanding, September 30, 2018 1,172,820 $ 38.95 Unvested share awards outstanding, December 31, 2016 1,120,700 $ 31.46 Granted 618,306 40.25 Vested (550,382 ) 31.67 Canceled or forfeited (77,324 ) 34.40 Unvested share awards outstanding, September 30, 2017 1,111,300 $ 36.04 Unvested share awards are generally valued at the closing price of the Company's common stock on the date of grant. All of the shares vest in equal annual installments over a period of three years from the date of grant. The following table summarizes the closing price of the Company's stock on the date of grant for shares granted and the aggregate grant date fair value of shares vesting for the periods indicated (in thousands, except per share data): Nine Months Ended September 30, 2018 2017 Range of the closing price on date of grant $39.04 - $42.80 $33.21 - $40.84 Aggregate grant date fair value of shares vesting $ 18,341 $ 17,429 The total unrecognized compensation cost of $30.2 million for all unvested share awards outstanding at September 30, 2018 will be recognized over a weighted average remaining period of 1.95 years . Executive share-based awards Certain of the Company's executives are eligible to receive annual awards of RSUs and PSUs (collectively, the "share units"). Annual awards of RSUs represent a fixed number of shares and vest on December 31st in equal tranches over three years . PSUs are initially granted based on a target value. The numb er of PSUs that ultimately vest at the end of a three-year performance measurement period will be based on the achievement of performance criteria pre-established by the Compensation Committee of the Board of Directors. The performance criteria established for the PSUs granted in 2018 , 2017 and 2016 include both performance and market conditions. Upon vesting, the share units will be converted to common stock on a one-for-one basis, or may be settled in cash at the Company's option. The share units will accumulate dividends declared on the Company's common stock from the date of grant to be paid subsequent to vesting. The Company has cash settled all tranches of RSUs that have vested to date. As a result, all RSUs and PSUs have been determined to be liability instruments and are remeasured at fair value each reporting period until the awards are settled. The RSUs are valued based on the closing price of the Company's common stock at the reporting date. The PSUs are valued based on the closing price of the Company's common stock at the reporting date net of a discount related to any applicable market conditions, considering the probability of meeting the defined performance conditions. Compensation cost related to PSUs is recognized during the performance period based on the probable outcome of the respective performance conditions. A summary of activity related to executive share-based awards follows for the periods indicated: RSU PSU Unvested executive share-based awards outstanding, December 31, 2017 91,168 105,721 Granted 52,026 52,026 Unvested executive share-based awards outstanding, September 30, 2018 143,194 157,747 Unvested executive share-based awards outstanding, December 31, 2016 78,561 57,873 Granted 47,848 47,848 Unvested executive share-based awards outstanding, September 30, 2017 126,409 105,721 The total liability for the share units was $5.7 million at September 30, 2018 . The total unrecognized compensation cost of $5.2 million for these share units at September 30, 2018 will be recognized over a weighted average remaining period of 1.82 years . Incentive awards The Company's annual incentive compensation arrangements for employees other than those eligible for the executive share-based awards discussed above provide for settlement through a combination of cash payments and unvested share awards following the end of the annual performance period. The dollar value of share awards to be granted is based on the achievement of performance criteria established in the incentive arrangements. The number of shares of common stock to be awarded is variable based on the closing price of the Company's stock on the date of grant; therefore, these awards are initially classified as liability instruments, with compensation cost recognized from the beginning of the performance period. The awards vest in equal installments over a period of three years from the date of grant. The total liability for incentive share awards was $1.1 million at September 30, 2018 . The total unrecognized compensation cost of $4.8 million for incentive share awards at September 30, 2018 will be recognized over a weighted average remaining period of 3.25 years . The accrued liability and unrecognized compensation cost are based on management's current estimate of the likely outcome of the performance criteria established in the incentive arrangements and may differ from actual results. T he 666,277 unvested share awards granted during the nine months ended September 30, 2018 , as discussed above, included 90,642 unvested share awards granted under the Company's annual incentive compensation arrangements based on the achievement of established performance criteria for the year ended December 31, 2017. Option Awards A summary of activity related to stock option awards for the nine months ended September 30, 2018 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2017 1,270,688 $ 26.93 Exercised (291,689 ) 26.49 Option awards outstanding and exercisable, September 30, 2018 978,999 $ 27.07 Option awards outstanding, December 31, 2016 3,602,076 $ 26.74 Exercised (2,304,108 ) 26.70 Option awards outstanding and exercisable, September 30, 2017 1,297,968 $ 26.81 The intrinsic value of options exercised was $4.6 million and $25.3 million , respectively, during the nine months ended September 30, 2018 and 2017. The related tax benefit of options exercised was $1.1 million and $3.8 million , respectively, during the nine months ended September 30, 2018 and 2017. |
Schedule of Nonvested Share Activity [Table Text Block] | A summary of activity related to unvested share awards follows for the periods indicated: Number of Share Awards Weighted Average Grant Date Fair Value Unvested share awards outstanding, December 31, 2017 1,108,477 $ 36.06 Granted 666,277 40.32 Vested (529,469 ) 34.64 Canceled or forfeited (72,465 ) 38.77 Unvested share awards outstanding, September 30, 2018 1,172,820 $ 38.95 Unvested share awards outstanding, December 31, 2016 1,120,700 $ 31.46 Granted 618,306 40.25 Vested (550,382 ) 31.67 Canceled or forfeited (77,324 ) 34.40 Unvested share awards outstanding, September 30, 2017 1,111,300 $ 36.04 Unvested share awards are generally valued at the closing price of the Company's common stock on the date of grant. All of the shares vest in equal annual installments over a period of three years from the date of grant. The following table summarizes the closing price of the Company's stock on the date of grant for shares granted and the aggregate grant date fair value of shares vesting for the periods indicated (in thousands, except per share data): Nine Months Ended September 30, 2018 2017 Range of the closing price on date of grant $39.04 - $42.80 $33.21 - $40.84 Aggregate grant date fair value of shares vesting $ 18,341 $ 17,429 The total unrecognized compensation cost of $30.2 million for all unvested share awards outstanding at September 30, 2018 will be recognized over a weighted average remaining period of 1.95 years . |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present assets and liabilities measured at fair value on a recurring basis at the dates indicated (in thousands): September 30, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 34,846 $ — $ — $ 34,846 U.S. Government agency and sponsored enterprise residential MBS — 1,929,830 — 1,929,830 U.S. Government agency and sponsored enterprise commercial MBS — 239,130 — 239,130 Private label residential MBS and CMOs — 971,138 37,402 1,008,540 Private label commercial MBS — 1,167,873 — 1,167,873 Single family rental real estate-backed securities — 520,120 — 520,120 Collateralized loan obligations — 1,187,327 — 1,187,327 Non-mortgage asset-backed securities — 207,158 — 207,158 State and municipal obligations — 422,775 — 422,775 SBA securities — 431,780 — 431,780 Other debt securities — — 5,664 5,664 Marketable equity securities 62,360 — — 62,360 Servicing rights — — 37,613 37,613 Derivative assets — 37,960 — 37,960 Total assets at fair value $ 97,206 $ 7,115,091 $ 80,679 $ 7,292,976 Derivative liabilities $ — $ 38,320 $ — $ 38,320 Total liabilities at fair value $ — $ 38,320 $ — $ 38,320 December 31, 2017 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 24,953 $ — $ — $ 24,953 U.S. Government agency and sponsored enterprise residential MBS — 2,058,027 — 2,058,027 U.S. Government agency and sponsored enterprise commercial MBS — 234,508 — 234,508 Private label residential MBS and CMOs — 576,033 52,214 628,247 Private label commercial MBS — 1,046,415 — 1,046,415 Single family rental real estate-backed securities — 562,706 — 562,706 Collateralized loan obligations — 723,681 — 723,681 Non-mortgage asset-backed securities — 121,747 — 121,747 Marketable equity securities 63,543 — — 63,543 State and municipal obligations — 657,203 — 657,203 SBA securities — 550,682 — 550,682 Other debt securities — 3,791 5,329 9,120 Servicing rights — — 30,737 30,737 Derivative assets — 27,627 — 27,627 Total assets at fair value $ 88,496 $ 6,562,420 $ 88,280 $ 6,739,196 Derivative liabilities $ — $ 25,373 $ — $ 25,373 Total liabilities at fair value $ — $ 25,373 $ — $ 25,373 |
Reconciliation of the Changes in the Fair Value of Assets and Liabilities Measured on a Recurring Basis, Unobservable Input | The following table reconciles changes in the fair value of assets and liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy during the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Private Label Other Debt Servicing Rights Private Label Other Debt Servicing Rights Balance at beginning of period $ 40,564 $ 5,581 $ 35,915 $ 108,790 $ 4,923 $ 29,128 Gains (losses) for the period included in: Net income — — (2,390 ) 24,146 — (1,330 ) Other comprehensive income (1,043 ) 75 — (24,668 ) 101 — Discount accretion 701 19 — 2,332 59 — Purchases or additions — — 4,088 — — 2,338 Sales — — — (40,732 ) — — Settlements (2,820 ) (11 ) — (9,071 ) (59 ) — Balance at end of period $ 37,402 $ 5,664 $ 37,613 $ 60,797 $ 5,024 $ 30,136 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (1,043 ) $ 75 $ (522 ) $ 101 Nine Months Ended September 30, 2018 2017 Private Label Residential MBS Other Debt Securities Servicing Rights Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 52,214 $ 5,329 $ 30,737 $ 120,610 $ 4,572 $ 27,159 Gains (losses) for the period included in: Net income 1,319 — (4,011 ) 24,146 — (4,273 ) Other comprehensive income (4,504 ) 362 — (25,651 ) 469 — Discount accretion 2,286 232 — 5,208 248 — Purchases or additions — — 10,887 — — 7,250 Sales (5,120 ) — — (40,732 ) — — Settlements (8,793 ) (259 ) — (22,784 ) (265 ) — Balance at end of period $ 37,402 $ 5,664 $ 37,613 $ 60,797 $ 5,024 $ 30,136 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (3,035 ) $ 362 $ (14,251 ) $ 469 The following table reconciles changes in the fair value of assets and liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy during the periods indicated (in thousands): Three Months Ended September 30, 2018 2017 Private Label Other Debt Servicing Rights Private Label Other Debt Servicing Rights Balance at beginning of period $ 40,564 $ 5,581 $ 35,915 $ 108,790 $ 4,923 $ 29,128 Gains (losses) for the period included in: Net income — — (2,390 ) 24,146 — (1,330 ) Other comprehensive income (1,043 ) 75 — (24,668 ) 101 — Discount accretion 701 19 — 2,332 59 — Purchases or additions — — 4,088 — — 2,338 Sales — — — (40,732 ) — — Settlements (2,820 ) (11 ) — (9,071 ) (59 ) — Balance at end of period $ 37,402 $ 5,664 $ 37,613 $ 60,797 $ 5,024 $ 30,136 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (1,043 ) $ 75 $ (522 ) $ 101 Nine Months Ended September 30, 2018 2017 Private Label Residential MBS Other Debt Securities Servicing Rights Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 52,214 $ 5,329 $ 30,737 $ 120,610 $ 4,572 $ 27,159 Gains (losses) for the period included in: Net income 1,319 — (4,011 ) 24,146 — (4,273 ) Other comprehensive income (4,504 ) 362 — (25,651 ) 469 — Discount accretion 2,286 232 — 5,208 248 — Purchases or additions — — 10,887 — — 7,250 Sales (5,120 ) — — (40,732 ) — — Settlements (8,793 ) (259 ) — (22,784 ) (265 ) — Balance at end of period $ 37,402 $ 5,664 $ 37,613 $ 60,797 $ 5,024 $ 30,136 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (3,035 ) $ 362 $ (14,251 ) $ 469 |
Valuation Techniques and Unobservable Inputs Used in the Valuation of Financial Instruments Falling Within Level 3 of the Fair Value Hierarchy | vides information about the valuation techniques and unobservable inputs used in the valuation of private label residential MBS and CMOs falling within level 3 of the fair value hierarchy as of September 30, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2018 Investment grade $ 22,805 Discounted cash flow Voluntary prepayment rate 10.40% - 25.50% (18.33%) Probability of default 0.00% - 6.75% (1.67%) Loss severity 15.00% - 100.00% (28.36%) Discount rate 0.47% - 8.81% (4.57%) Non-investment grade $ 14,597 Discounted cash flow Voluntary prepayment rate 1.20% - 25.00% (17.37%) Probability of default 0.00% - 5.85% (2.91%) Loss severity 15.00% - 80.00% (33.67%) Discount rate 1.29% - 10.99% (6.19%) The significant unobservable inputs impacting the fair value measurement of private label residential MBS and CMOs include voluntary prepayment rates, probability of default, loss severity given default and discount rates. Generally, increases in probability of default, loss severity or discount rates would result in a lower fair value measurement. Alternatively, decreases in probability of default, loss severity or discount rates would result in a higher fair value measurement. For securities with less favorable credit characteristics, decreases in voluntary prepayment speeds may be interpreted as a deterioration in the overall credit quality of the underlying collateral and as such, lead to lower fair value measurements. The fair value measurements of those securities with higher levels of subordination will be less sensitive to changes in these unobservable inputs other than discount rates, while securities with lower levels of subordination will show a higher degree of sensitivity to changes in these unobservable inputs other than discount rates. Generally, a change in the assumption used for probability of default is accompanied by a directionally similar change in the assumption used for loss severity given default and a directionally opposite change in the assumption used for voluntary prepayment rate. The following table provides information about the valuation techniques and significant unobservable inputs used in the valuation of servicing rights as of September 30, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2018 Residential MSRs $ 27,852 Discounted cash flow Prepayment rate 3.76% - 21.83% (10.44%) Discount rate 10.25% - 10.32% (10.26%) Commercial servicing rights $ 9,761 Discounted cash flow Prepayment rate 0.83% - 15.61% (11.40%) Discount rate 3.05% - 22.69% (14.38%) Increases in prepayment |
Schedule of Assets for Which Nonrecurring Changes in Fair Value have been Recorded | sent the carrying value of assets for which non-recurring changes in fair value have been recorded for the periods indicated (in thousands): September 30, 2018 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended Nine Months Ended September 30, 2018 OREO and repossessed assets $ — $ 1,300 $ 651 $ 1,951 $ (646 ) $ (2,447 ) Impaired loans $ — $ 61,029 $ 22,436 $ 83,465 $ (1,552 ) $ (14,510 ) September 30, 2017 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended Nine Months Ended OREO and repossessed assets $ — $ — $ 5,520 $ 5,520 $ (515 ) $ (1,534 ) Impaired loans $ — $ — $ 107,173 $ 107,173 $ (35,106 ) $ (58,073 ) Included in the tables above are impaired taxi medallion loans with carrying values of $61.0 million and $90.1 million at September 30, 2018 and 2017 , respectively, the majority of which were in New York City. Losses of $11.7 million and $54.3 million were recognized on impaired taxi medallion loans during the nine months ended September 30, 2018 and 2017 , respectively. In addition, OREO and repossessed assets reported above included repossessed taxi medallions with carrying values of $1.3 million and $2.5 million at September 30, 2018 and 2017 , respectively. Losses of $0.2 million , $0.6 million , $0.6 million and $1.0 million were recognized on repossessed taxi medallions during the three and nine months ended September 30, 2018 and 2017 , respectively. The following table pre |
Schedule of the Carrying Value and Fair Value of Financial Instruments | ents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands): September 30, 2018 December 31, 2017 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 279,799 $ 279,799 $ 194,582 $ 194,582 Investment securities 1/2/3 7,227,403 7,227,403 6,690,832 6,690,832 Non-marketable equity securities 2 273,427 273,427 265,989 265,989 Loans held for sale 2 37,179 40,581 34,097 37,847 Loans: Covered 3 359,753 627,924 502,860 922,888 Non-covered 3 21,434,678 21,407,477 20,768,849 20,759,567 FDIC indemnification asset 3 152,517 68,500 295,635 148,356 Derivative assets 2 37,960 37,960 27,627 27,627 Liabilities: Demand, savings and money market deposits 2 $ 15,589,497 $ 15,589,497 $ 15,543,637 $ 15,543,637 Time deposits 2 6,715,793 6,701,219 6,334,842 6,324,010 Federal funds purchased 2 175,000 175,000 — — FHLB advances 2 4,946,000 4,948,464 4,771,000 4,774,160 Notes and other borrowings 2 402,780 414,915 402,830 435,361 Derivative liabilities 2 38,320 38,320 25,373 25,373 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of the Total Lending Related Commitments Outstanding | Total lending related commitments outstanding at September 30, 2018 were as follows (in thousands): Commitments to fund loans $ 577,539 Commitments to purchase loans 398,745 Unfunded commitments under lines of credit 2,855,444 Commercial and standby letters of credit 88,626 $ 3,920,354 |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation of Basic and Diluted Earnings per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Numerator: | ||||
Net income | $ 97,328 | $ 67,779 | $ 272,463 | $ 196,479 |
Distributed and undistributed earnings allocated to participating securities | (3,771) | (2,525) | (10,444) | (7,331) |
Income allocated to common stockholders for basic earnings per common share | $ 93,557 | $ 65,254 | $ 262,019 | $ 189,148 |
Denominator: | ||||
Weighted average common shares outstanding | 105,063,770 | 106,809,381 | 105,914,807 | 106,488,396 |
Less average unvested stock awards | (1,178,982) | (1,101,485) | (1,170,209) | (1,102,381) |
Weighted average shares for basic earnings per common share | 103,884,788 | 105,707,896 | 104,744,598 | 105,386,015 |
Basic earnings per common share | $ 0.90 | $ 0.62 | $ 2.50 | $ 1.79 |
Numerator: | ||||
Income allocated to common stockholders for basic earnings per common share | $ 93,557 | $ 65,254 | $ 262,019 | $ 189,148 |
Adjustment for earnings reallocated from participating securities | 13 | 6 | 37 | 21 |
Income used in calculating diluted earnings per common share | $ 93,570 | $ 65,260 | $ 262,056 | $ 189,169 |
Denominator: | ||||
Weighted average shares for basic earnings per common share | 103,884,788 | 105,707,896 | 104,744,598 | 105,386,015 |
Dilutive effect of stock options and executive share-based awards | 499,431 | 365,286 | 512,801 | 479,459 |
Weighted average shares for diluted earnings per common share | 104,384,219 | 106,073,182 | 105,257,399 | 105,865,474 |
Diluted earnings per common share | $ 0.90 | $ 0.62 | $ 2.49 | $ 1.79 |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) | May 21, 2009USD ($) | Sep. 30, 2018USD ($)countybranchbanking_center | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)countybranchbanking_centersubsidiary | Sep. 30, 2017USD ($) |
Summary of Significant Accounting Policies [Line Items] | |||||
Operating Lease, Right-of-Use Asset | $ 90,000,000 | $ 90,000,000 | |||
Number Of Subsidiaries | subsidiary | 1 | ||||
Number of branches located in Florida (in Branches) | branch | 86 | 86 | |||
Number of Florida counties with branches (in counties) | county | 15 | 15 | |||
Number of branches located in New York metropolitan area (in Branches) | banking_center | 5 | 5 | |||
Number of loss sharing agreements | 2 | ||||
Percent FDIC will reimburse for covered losses (in Percent) | 80.00% | ||||
Limit on losses reimbursed at 80% | $ 4,000,000,000 | ||||
Percent of losses in excess of limit FDIC will reimburse (in Percent) | 95.00% | ||||
Unrealized Gain (Loss) on Securities | $ 89,000 | $ 0 | $ 1,109,000 | $ 0 | |
Accounting Standards Update 2018-02 [Domain] | |||||
Summary of Significant Accounting Policies [Line Items] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 11,100,000 | 11,100,000 | |||
Accounting Standards Update 2016-01 [Member] | |||||
Summary of Significant Accounting Policies [Line Items] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (2,200,000) | (2,200,000) | |||
Accounting Standards Update 2016-02 [Member] | |||||
Summary of Significant Accounting Policies [Line Items] | |||||
Operating Lease, Liability | $ 100,000,000 | $ 100,000,000 |
Earnings Per Common Share (Pote
Earnings Per Common Share (Potentially Dilutive Securities Outstanding) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Unvested shares and share units | ||||
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items] | ||||
Potentially dilutive securities outstanding (in Shares) | 1,639,183 | 1,111,300 | 1,639,183 | 1,111,300 |
Stock options and warrants | ||||
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items] | ||||
Potentially dilutive securities outstanding (in Shares) | 1,850,279 | 1,850,279 | 1,850,279 | 1,850,279 |
Earnings Per Common Share Earni
Earnings Per Common Share Earnings per Common Share (Narrative) (Details) | Sep. 30, 2018shares |
Earnings Per Share [Abstract] | |
Dividend Equivalent Rights | 3,023,314 |
Investment Securities (Schedule
Investment Securities (Schedule of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Amortized Cost | $ 7,149,372 | $ 6,587,786 |
Gross Unrealized Gains | 53,213 | 98,906 |
Gross Unrealized Losses | (47,542) | (5,860) |
Investment securities available for sale, at fair value | 7,155,043 | 6,680,832 |
U.S. Treasury securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 34,874 | 24,981 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (28) | (28) |
Investment securities available for sale, at fair value | 34,846 | 24,953 |
U.S. Government agency and sponsored enterprise residential MBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,916,210 | 2,043,373 |
Gross Unrealized Gains | 19,275 | 16,094 |
Gross Unrealized Losses | (5,655) | (1,440) |
Investment securities available for sale, at fair value | 1,929,830 | 2,058,027 |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 240,393 | 233,522 |
Gross Unrealized Gains | 734 | 1,330 |
Gross Unrealized Losses | (1,997) | (344) |
Investment securities available for sale, at fair value | 239,130 | 234,508 |
Private label residential mortgage-backed securities and CMOs | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,016,659 | 613,732 |
Gross Unrealized Gains | 10,096 | 16,473 |
Gross Unrealized Losses | (18,215) | (1,958) |
Investment securities available for sale, at fair value | 1,008,540 | 628,247 |
Private label commercial mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,167,228 | 1,033,022 |
Gross Unrealized Gains | 6,374 | 13,651 |
Gross Unrealized Losses | (5,729) | (258) |
Investment securities available for sale, at fair value | 1,167,873 | 1,046,415 |
Single family rental real estate-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 525,061 | 559,741 |
Gross Unrealized Gains | 327 | 3,823 |
Gross Unrealized Losses | (5,268) | (858) |
Investment securities available for sale, at fair value | 520,120 | 562,706 |
Collateralized loan obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,186,639 | 720,429 |
Gross Unrealized Gains | 1,527 | 3,252 |
Gross Unrealized Losses | (839) | 0 |
Investment securities available for sale, at fair value | 1,187,327 | 723,681 |
Non-mortgage asset-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 208,674 | 119,939 |
Gross Unrealized Gains | 1,119 | 1,808 |
Gross Unrealized Losses | (2,635) | 0 |
Investment securities available for sale, at fair value | 207,158 | 121,747 |
Marketable equity securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 59,912 | |
Gross Unrealized Gains | 3,631 | |
Gross Unrealized Losses | 0 | |
Marketable Securities, Equity Securities | 62,360 | 63,543 |
State and municipal obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 426,686 | 640,511 |
Gross Unrealized Gains | 2,640 | 17,606 |
Gross Unrealized Losses | (6,551) | (914) |
Investment securities available for sale, at fair value | 422,775 | 657,203 |
SBA securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 425,388 | 534,534 |
Gross Unrealized Gains | 7,017 | 16,208 |
Gross Unrealized Losses | (625) | (60) |
Investment securities available for sale, at fair value | 431,780 | 550,682 |
Other debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,560 | 4,090 |
Gross Unrealized Gains | 4,104 | 5,030 |
Gross Unrealized Losses | 0 | 0 |
Investment securities available for sale, at fair value | $ 5,664 | $ 9,120 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($)security | Sep. 30, 2017security | Sep. 30, 2018USD ($)security | Sep. 30, 2017security | Dec. 31, 2017USD ($)security | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Document Fiscal Year Focus | 2,018 | ||||
Number of held-to-maturity securities | 1 | 1 | 1 | ||
Investment securities held to maturity | $ | $ 10,000 | $ 10,000 | $ 10,000 | ||
Weighted average life of investment portfolio (in Duration) | 4 years 8 months 12 days | ||||
Effective duration of investment portfolio (in Duration) | 1 year 5 months 27 days | ||||
Available-for-sale Securities Pledged as Collateral | $ | $ 2,200,000 | $ 2,200,000 | 2,600,000 | ||
Number of securities in unrealized loss positions (in Securities) | 175 | 175 | |||
Number of securities which impairment considered insignificant (in Securities) | 35 | 35 | |||
Available-for-sale securities, gross unrealized loss, considered insignificant | $ | $ 297 | $ 297 | |||
Number of securities determined to be other than temporarily impaired during the period | 0 | 0 | 0 | 0 | |
Marketable equity securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Marketable Securities, Equity Securities | $ | $ 62,360 | $ 62,360 | $ 63,543 | ||
US Treasury securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 1 | 1 | |||
U.S. Government agency and sponsored enterprise residential MBS | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 43 | 43 | |||
U.S. Government agency and sponsored enterprise commercial MBS | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 5 | 5 | |||
Private label residential mortgage-backed securities and CMOs | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 33 | 33 | |||
Private label commercial mortgage-backed securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 14 | 14 | |||
Single family rental real estate-backed securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 10 | 10 | |||
Collateralized loan obligations | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 6 | 6 | |||
Non-mortgage asset-backed securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 7 | 7 | |||
State and municipal obligations | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 17 | 17 | |||
SBA securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of securities in unrealized loss positions (in Securities) | 4 | 4 | |||
Maximum [Member] | Collateralized loan obligations | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Unrealized loss as a percent of amortized cost on securities in continuous unrealized loss positions (or less, less than) | 1.00% | 1.00% | |||
Maximum [Member] | Non-mortgage asset-backed securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Unrealized loss as a percent of amortized cost on securities in continuous unrealized loss positions (or less, less than) | 3.00% | 3.00% | |||
Maximum [Member] | SBA securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Unrealized loss as a percent of amortized cost on securities in continuous unrealized loss positions (or less, less than) | 1.00% | 1.00% |
Investment Securities (Schedu_2
Investment Securities (Schedule of Maturities of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 757,130 | |
Due after one year through five years, Amortized Cost | 3,551,176 | |
Due after five years through ten years, Amortized Cost | 2,457,655 | |
Due after ten years, Amortized Cost | 383,411 | |
Amortized Cost | 7,149,372 | $ 6,587,786 |
Due in one year or less, Fair Value | 759,520 | |
Due after one year through five years, Fair Value | 3,556,350 | |
Due after five years through ten years, Fair Value | 2,453,558 | |
Due after ten years, Fair Value | 385,615 | |
Fair Value | $ 7,155,043 | $ 6,680,832 |
Investment Securities (Schedu_3
Investment Securities (Schedule of Gains and Losses on the Sale and Exchange of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Document Fiscal Year Focus | 2,018 | |||
Proceeds from sale of investment securities available for sale | $ 102,238 | $ 399,430 | $ 938,555 | $ 827,353 |
Gross realized gains: | 521 | 28,261 | 6,561 | 30,553 |
Gross realized losses: | 0 | (1,330) | (2,514) | (1,359) |
Net realized gain | 521 | 26,931 | 4,047 | 29,194 |
Unrealized Gain (Loss) on Securities | (89) | 0 | (1,109) | 0 |
Gain on investment securities, net | $ 432 | $ 26,931 | $ 2,938 | $ 29,194 |
Investment Securities (Schedu_4
Investment Securities (Schedule of the Aggregate Fair Value and Amount by which Amortized Cost Exceeds Fair Value for Investment Securities that are in Unrealized Loss Positions) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 2,815,640 | $ 1,080,493 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (41,173) | (4,546) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 165,423 | 94,520 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (6,369) | (1,314) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,981,063 | 1,175,013 |
Gross Unrealized Losses | (47,542) | (5,860) |
U.S. Treasury securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 34,846 | 24,953 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (28) | (28) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 34,846 | 24,953 |
Gross Unrealized Losses | (28) | (28) |
U.S. Government agency and sponsored enterprise residential MBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 478,707 | 471,120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (4,139) | (1,141) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 39,045 | 13,028 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,516) | (299) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 517,752 | 484,148 |
Gross Unrealized Losses | (5,655) | (1,440) |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 121,004 | 26,265 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,524) | (344) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 7,004 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (473) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 128,008 | 26,265 |
Gross Unrealized Losses | (1,997) | (344) |
Private label residential mortgage-backed securities and CMOs | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 800,549 | 330,068 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (16,545) | (1,858) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 45,644 | 5,083 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,670) | (100) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 846,193 | 335,151 |
Gross Unrealized Losses | (18,215) | (1,958) |
Private label commercial mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 181,266 | 81,322 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3,999) | (258) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 31,092 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,730) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 212,358 | 81,322 |
Gross Unrealized Losses | (5,729) | (258) |
Single family rental real estate-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 293,384 | 94,750 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (4,833) | (858) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 13,129 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (435) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 306,513 | 94,750 |
Gross Unrealized Losses | (5,268) | (858) |
Collateralized loan obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 335,018 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (839) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 335,018 | |
Gross Unrealized Losses | (839) | 0 |
Non-mortgage asset-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 178,454 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2,635) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 178,454 | |
Gross Unrealized Losses | (2,635) | 0 |
Marketable equity securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses | 0 | |
State and municipal obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 275,664 | 30,715 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6,040) | (49) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 16,110 | 60,982 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (511) | (865) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 291,774 | 91,697 |
Gross Unrealized Losses | (6,551) | (914) |
SBA securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 116,748 | 21,300 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (591) | (10) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 13,399 | 15,427 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (34) | (50) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 130,147 | 36,727 |
Gross Unrealized Losses | $ (625) | $ (60) |
Loans and Allowance for Loan _3
Loans and Allowance for Loan and Lease Losses (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable Investment Past Due [Line Items] | |||||
Purchases of loans | $ 913,840 | $ 949,294 | |||
Unpaid principal balance of real estate loans pledged as security for FHLB advances | $ 10,200,000 | 10,200,000 | |||
Recorded investment of real estate loans pledged as security for FHLB advances | 9,900,000 | 9,900,000 | |||
Unpaid principal balance of ACI loans | 700,000 | 700,000 | $ 1,100,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | $ 2,900 | 8,300 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 2,101 | 1,415 | 4,951 | 3,691 | |
1-4 single family residential | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Purchases of loans | 309,562 | $ 312,418 | 913,840 | $ 949,294 | |
Commercial Lending Subsidiaries | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Capital Leases, Net Investment in Direct Financing Leases | 764,000 | 764,000 | 738,000 | ||
Residential and Other Consumer | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Mortgage Loans in Process of Foreclosure, Amount | 1,000 | 1,000 | 11,000 | ||
Covered [Member] | Residential and Other Consumer | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 5,000 | 5,000 | $ 3,000 | ||
Minimum | Commercial | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Financing receivable credit quality indicator, the value at which relationships are reevaluated at least annually | 1,000 | 1,000 | |||
Maximum [Member] | Commercial | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Financing receivable credit quality indicator, the value at which relationships are reevaluated at least annually | 3,000 | 3,000 | |||
US Government Agency Insured Loans [Member] | 1-4 single family residential | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Purchases of loans | 89,762 | 201,302 | |||
US Government Agency Insured Loans [Member] | Residential and Other Consumer | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Mortgage Loans in Process of Foreclosure, Amount | $ 59,000 | $ 59,000 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan and Lease Losses (Schedule of Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 21,516,701 | $ 20,865,221 |
Loans, gross | 21,879,558 | 21,371,487 |
Non-covered premiums, discounts and deferred fees and costs, net | 42,703 | 48,165 |
Premiums, discounts and deferred fees and costs, net | 39,613 | 45,017 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 21,559,404 | 20,913,386 |
Covered loans net of premiums, discounts and deferred fees and costs | 359,767 | 503,118 |
Loans net of premiums, discounts and deferred fees and costs | 21,919,171 | 21,416,504 |
Non-covered Allowance for loan and lease losses | (124,726) | (144,537) |
Allowance for loan and lease losses | (124,740) | (144,795) |
Non-covered loans, net | 21,434,678 | 20,768,849 |
Loans, net | $ 21,794,431 | $ 21,271,709 |
Percent of Total | 100.00% | 100.00% |
1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 4,322,915 | $ 4,089,994 |
Loans, gross | $ 4,685,772 | $ 4,596,260 |
Percent of Total | 21.40% | 21.50% |
Home equity loans and lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 1,715 | $ 1,654 |
Loans, gross | $ 1,715 | $ 1,654 |
Percent of Total | 0.00% | 0.00% |
Other Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 16,796 | $ 20,512 |
Loans, gross | 16,796 | 20,512 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 16,764 | $ 20,473 |
Percent of Total | 0.10% | 0.10% |
Residential and Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 4,504,667 | $ 4,138,980 |
Loans, gross | $ 4,867,524 | $ 4,645,246 |
Percent of Total | 22.20% | 21.70% |
Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 2,760,856 | $ 3,215,697 |
Loans, gross | 2,760,856 | 3,215,697 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 2,762,998 | $ 3,218,953 |
Percent of Total | 12.60% | 15.00% |
Commercial real estate, Non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 4,579,278 | $ 4,485,276 |
Loans, gross | 4,579,278 | 4,485,276 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 4,567,589 | $ 4,474,801 |
Percent of Total | 21.00% | 21.00% |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 245,077 | $ 310,999 |
Loans, gross | 245,077 | 310,999 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 244,619 | $ 310,484 |
Percent of Total | 1.10% | 1.50% |
Commercial real estate, Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 2,094,371 | $ 2,014,908 |
Loans, gross | 2,094,371 | 2,014,908 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 2,091,978 | $ 2,012,742 |
Percent of Total | 9.60% | 9.40% |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 4,720,532 | $ 4,145,785 |
Loans, gross | $ 4,720,532 | $ 4,145,785 |
Percent of Total | 21.60% | 19.40% |
Commercial Lending Subsidiaries | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 2,611,920 | $ 2,553,576 |
Loans, gross | $ 2,611,920 | $ 2,553,576 |
Percent of Total | 11.90% | 12.00% |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 17,012,034 | $ 16,726,241 |
Loans, gross | 17,012,034 | 16,726,241 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 16,995,826 | $ 16,717,306 |
Percent of Total | 77.80% | 78.30% |
ACI Loans, Non-Covered | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 27,378 | $ 33,776 |
ACI Loans, Non-Covered | Residential and Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
ACI Loans, Non-Covered | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | 27,378 | 33,776 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 27,378 | 33,776 |
ACI Loans, Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 344,078 | 479,068 |
Covered loans net of premiums, discounts and deferred fees and costs | 344,078 | 479,068 |
Covered Allowance for loan and lease losses | 0 | 0 |
Covered loans, net | 344,078 | 479,068 |
ACI Loans, Covered [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 344,078 | 479,068 |
Covered loans net of premiums, discounts and deferred fees and costs | 344,078 | 479,068 |
ACI Loans, Covered [Member] | Home equity loans and lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 0 | 0 |
ACI Loans, Covered [Member] | Residential and Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 344,078 | 479,068 |
Non-ACI | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 18,779 | 27,198 |
Covered premiums, discounts and deferred fees and costs, net | (3,090) | (3,148) |
Covered loans net of premiums, discounts and deferred fees and costs | 15,689 | 24,050 |
Covered Allowance for loan and lease losses | (14) | (258) |
Covered loans, net | 15,675 | 23,792 |
Non-ACI | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 18,779 | 27,198 |
Covered loans net of premiums, discounts and deferred fees and costs | 15,689 | 24,050 |
Non-ACI | Home equity loans and lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 0 | 0 |
Non-ACI | Residential and Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 18,779 | 27,198 |
US Government Agency Insured Loans [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | 163,241 | 26,820 |
Loans, gross | $ 163,241 | $ 26,820 |
Percent of Total | 0.70% | 0.10% |
Loans and Allowance for Loan _5
Loans and Allowance for Loan and Lease Losses (Schedule for Accretable Yield Rollforward) (Details) - ACI loans - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Beginning Balance | $ 455,059 | $ 675,385 |
Reclassifications from non-accretable difference | 78,561 | 81,501 |
Accretion | (249,609) | $ (301,827) |
Ending Balance | $ 284,011 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan and Lease Losses (Schedule of Sold Covered Residential Loans to Third Parties on a Non-recourse Basis) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gain on sale of loans, net | $ 8,691 | $ 2,447 | $ 12,960 | $ 6,601 |
Gain on FDIC indemnification, net | 5,449 | 5,692 | 1,266 | |
Covered [Member] | Residential and Other Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
UPB of loans sold | 154,415 | 279,764 | 123,737 | |
Cash proceeds, net of transaction costs | 129,144 | 238,773 | 98,404 | |
Recorded investment in loans sold | 124,107 | 234,034 | 99,986 | |
Gain on sale of loans, net | $ 5,037 | $ 4,739 | $ (1,582) |
Loans and Allowance for Loan _7
Loans and Allowance for Loan and Lease Losses (Allowance for Credit Losses on Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | $ 134,971 | $ 155,648 | $ 144,795 | $ 152,953 | |
Provision for loan losses | 1,200 | 37,854 | 13,342 | 63,573 | |
Charge-offs | (13,080) | (36,028) | (35,980) | (61,089) | |
Recoveries | 1,649 | 1,099 | 2,583 | 3,136 | |
Allowance for loan and lease losses, end of period | 124,740 | 158,573 | 124,740 | 158,573 | |
Loans net of premiums, discounts and deferred fees and costs | 21,919,171 | 21,919,171 | $ 21,416,504 | ||
Covered loans net of premiums, discounts and deferred fees and costs | 359,767 | 359,767 | 503,118 | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 21,559,404 | 21,559,404 | 20,913,386 | ||
Residential and Other Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 10,338 | 13,550 | 10,720 | 11,503 | |
Provision for loan losses | 240 | 631 | 334 | 2,686 | |
Charge-offs | (740) | 0 | (1,244) | (55) | |
Recoveries | 465 | 39 | 493 | 86 | |
Allowance for loan and lease losses, end of period | 10,303 | 14,220 | 10,303 | 14,220 | |
Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 124,633 | 142,098 | 134,075 | 141,450 | |
Provision for loan losses | 960 | 32,223 | 13,008 | 55,887 | |
Charge-offs | (12,340) | (36,028) | (34,736) | (61,034) | |
Recoveries | 1,184 | 1,060 | 2,090 | 3,050 | |
Allowance for loan and lease losses, end of period | 114,437 | 139,353 | 114,437 | 139,353 | |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 16,995,826 | 16,995,826 | 16,717,306 | ||
Unallocated Financing Receivables [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 0 | 0 | |||
Provision for loan losses | 5,000 | 5,000 | |||
Charge-offs | 0 | 0 | |||
Allowance for loan and lease losses, end of period | 5,000 | 5,000 | |||
ACI Loans, Non-covered | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 27,378 | 27,378 | 33,776 | ||
ACI Loans, Non-covered | Residential and Other Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 | 0 | ||
ACI Loans, Non-covered | Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 27,378 | 27,378 | 33,776 | ||
Covered [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 258 | ||||
Provision for loan losses | (50) | 261 | 517 | 2,693 | |
Charge-offs | (740) | 0 | (979) | (55) | |
Recoveries | 214 | 38 | 218 | 110 | |
Allowance for loan and lease losses, end of period | 14 | 14 | |||
Covered loans net of premiums, discounts and deferred fees and costs | 359,767 | 359,767 | 503,118 | ||
Covered [Member] | Residential and Other Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 258 | ||||
Provision for loan losses | (50) | 268 | 517 | 2,738 | |
Charge-offs | (740) | 0 | (979) | (55) | |
Recoveries | 214 | 31 | 218 | 65 | |
Allowance for loan and lease losses, end of period | 14 | 14 | |||
Covered loans net of premiums, discounts and deferred fees and costs | 359,767 | 359,767 | 503,118 | ||
Covered [Member] | Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 0 | ||||
Provision for loan losses | 0 | (7) | 0 | (45) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 7 | 0 | 45 | |
Allowance for loan and lease losses, end of period | 0 | 0 | |||
Covered loans net of premiums, discounts and deferred fees and costs | 0 | 0 | 0 | ||
Covered [Member] | ACI loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Loans net of premiums, discounts and deferred fees and costs | 344,078 | 344,078 | 479,068 | ||
Covered [Member] | ACI loans | Residential and Other Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Loans net of premiums, discounts and deferred fees and costs | 344,078 | 344,078 | 479,068 | ||
Covered [Member] | ACI loans | Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Loans net of premiums, discounts and deferred fees and costs | 0 | 0 | 0 | ||
Covered [Member] | Non-ACI loans [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance, balance, loans individually evaluated for impairment | 14 | 14 | 118 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 0 | 0 | 140 | ||
Loans individually evaluated for impairment, balance | 956 | 956 | 2,221 | ||
Loans collectively evaluated for impairment, balance | 14,733 | 14,733 | 21,829 | ||
Covered [Member] | Non-ACI loans [Member] | Residential and Other Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance, balance, loans individually evaluated for impairment | 14 | 14 | 118 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 0 | 0 | 140 | ||
Loans individually evaluated for impairment, balance | 956 | 956 | 2,221 | ||
Loans collectively evaluated for impairment, balance | 14,733 | 14,733 | 21,829 | ||
Covered [Member] | Non-ACI loans [Member] | Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance, balance, loans individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 0 | 0 | 0 | ||
Loans individually evaluated for impairment, balance | 0 | 0 | 0 | ||
Loans collectively evaluated for impairment, balance | 0 | 0 | 0 | ||
Non-Covered [Domain] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 144,537 | ||||
Provision for loan losses | 1,250 | 37,593 | 12,825 | 60,880 | |
Charge-offs | (12,340) | (36,028) | (35,001) | (61,034) | |
Recoveries | 1,435 | 1,061 | 2,365 | 3,026 | |
Allowance for loan and lease losses, end of period | 124,726 | 124,726 | |||
Allowance, balance, loans individually evaluated for impairment | 23,193 | 23,193 | 18,839 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 101,533 | 101,533 | 125,698 | ||
Loans individually evaluated for impairment, balance | 197,558 | 197,558 | 174,940 | ||
Loans collectively evaluated for impairment, balance | 21,334,468 | 21,334,468 | 20,704,670 | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 21,559,404 | 21,559,404 | 20,913,386 | ||
Non-Covered [Domain] | Residential and Other Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 10,462 | ||||
Provision for loan losses | 290 | 363 | (183) | (52) | |
Charge-offs | 0 | (265) | |||
Recoveries | 251 | 8 | 275 | 21 | |
Allowance for loan and lease losses, end of period | 10,289 | 10,289 | |||
Allowance, balance, loans individually evaluated for impairment | 143 | 143 | 63 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 10,146 | 10,146 | 10,399 | ||
Loans individually evaluated for impairment, balance | 6,218 | 6,218 | 1,234 | ||
Loans collectively evaluated for impairment, balance | 4,557,360 | 4,557,360 | 4,194,846 | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,563,578 | 4,563,578 | 4,196,080 | ||
Non-Covered [Domain] | Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan and lease losses, beginning of period | 134,075 | ||||
Provision for loan losses | 960 | 32,230 | 13,008 | 55,932 | |
Charge-offs | (12,340) | (36,028) | (34,736) | (61,034) | |
Recoveries | 1,184 | 1,053 | 2,090 | 3,005 | |
Allowance for loan and lease losses, end of period | 114,437 | 114,437 | |||
Allowance, balance, loans individually evaluated for impairment | 23,050 | 23,050 | 18,776 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 91,387 | 91,387 | 115,299 | ||
Loans individually evaluated for impairment, balance | 191,340 | 191,340 | 173,706 | ||
Loans collectively evaluated for impairment, balance | 16,777,108 | 16,777,108 | 16,509,824 | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 16,995,826 | $ 16,995,826 | $ 16,717,306 | ||
Non-Covered [Domain] | Unallocated Financing Receivables [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Provision for loan losses | $ 5,000 | $ 5,000 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan and Lease Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | $ 186,557 | $ 221,657 | $ 180,447 | $ 206,900 | ||||
Financing Receivable, Allowance for Credit Losses | 124,740 | 158,573 | $ 124,740 | 158,573 | $ 134,971 | $ 144,795 | $ 155,648 | $ 152,953 |
Document Fiscal Year Focus | 2,018 | |||||||
Recorded Investment, Total | 197,558 | $ 197,558 | 174,940 | |||||
UPB, Total | 197,298 | 197,298 | 174,865 | |||||
Related Specific Allowance, Impaired loans | 23,193 | 23,193 | 18,839 | |||||
Provision for loan losses | 1,200 | 37,854 | 13,342 | 63,573 | ||||
Allowance for Loan and Lease Losses, Write-offs | (13,080) | (36,028) | (35,980) | (61,089) | ||||
Multi-family | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 26,041 | 1,359 | 25,674 | 1,816 | ||||
Recorded Investment, With no specific allowance recorded | 6,549 | 6,549 | 0 | |||||
Recorded Investment, With a specific allowance recorded | 19,280 | 19,280 | 23,173 | |||||
UPB, With no specific allowance recorded | 6,580 | 6,580 | 0 | |||||
UPB, With a specific allowance recorded | 19,281 | 19,281 | 23,175 | |||||
Related Specific Allowance, Impaired loans | 3,144 | 3,144 | 1,732 | |||||
Commercial real estate, Non-owner occupied | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 14,577 | 8,216 | 13,858 | 4,056 | ||||
Recorded Investment, With no specific allowance recorded | 14,049 | 14,049 | 10,922 | |||||
UPB, With no specific allowance recorded | 13,965 | 13,965 | 10,838 | |||||
Construction and land | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 7,766 | 2,797 | 5,386 | 3,317 | ||||
Recorded Investment, With no specific allowance recorded | 10,166 | 10,166 | 1,175 | |||||
UPB, With no specific allowance recorded | 10,169 | 10,169 | 1,175 | |||||
Commercial real estate, Owner occupied | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 14,004 | 20,579 | 17,451 | 18,872 | ||||
Recorded Investment, With no specific allowance recorded | 9,860 | 9,860 | 22,002 | |||||
Recorded Investment, With a specific allowance recorded | 2,768 | 2,768 | 3,075 | |||||
UPB, With no specific allowance recorded | 9,858 | 9,858 | 22,025 | |||||
UPB, With a specific allowance recorded | 2,768 | 2,768 | 3,079 | |||||
Related Specific Allowance, Impaired loans | 5 | 5 | 2,960 | |||||
Taxi medallion [Member] | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 83,683 | 123,867 | 92,893 | 107,529 | ||||
Recorded Investment, With no specific allowance recorded | 10,586 | 10,586 | 13,560 | |||||
Recorded Investment, With a specific allowance recorded | 69,569 | 69,569 | 92,507 | |||||
UPB, With no specific allowance recorded | 10,585 | 10,585 | 13,559 | |||||
UPB, With a specific allowance recorded | 69,570 | 69,570 | 92,508 | |||||
Related Specific Allowance, Impaired loans | 10,957 | 10,957 | 12,214 | |||||
Other Commercial and industrial [Member] | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 22,179 | 42,479 | 15,559 | 43,308 | ||||
Recorded Investment, With no specific allowance recorded | 16,786 | 16,786 | 345 | |||||
Recorded Investment, With a specific allowance recorded | 6,996 | 6,996 | 3,626 | |||||
UPB, With no specific allowance recorded | 16,795 | 16,795 | 374 | |||||
UPB, With a specific allowance recorded | 6,998 | 6,998 | 3,624 | |||||
Related Specific Allowance, Impaired loans | 1,705 | 1,705 | 1,540 | |||||
Commercial Lending Subsidiaries | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 12,562 | 21,398 | 5,398 | 27,202 | ||||
Recorded Investment, With no specific allowance recorded | 1,923 | 1,923 | 0 | |||||
Recorded Investment, With a specific allowance recorded | 21,119 | 21,119 | 3,321 | |||||
UPB, With no specific allowance recorded | 1,920 | 1,920 | 0 | |||||
UPB, With a specific allowance recorded | 21,029 | 21,029 | 3,296 | |||||
Related Specific Allowance, Impaired loans | 6,999 | 6,999 | 330 | |||||
Residential and Other Consumer | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 10,303 | 14,220 | 10,303 | 14,220 | 10,338 | 10,720 | 13,550 | 11,503 |
Recorded Investment, Total | 6,218 | 6,218 | 1,234 | |||||
UPB, Total | 6,090 | 6,090 | 1,212 | |||||
Related Specific Allowance, Impaired loans | 143 | 143 | 63 | |||||
Provision for loan losses | 240 | 631 | 334 | 2,686 | ||||
Allowance for Loan and Lease Losses, Write-offs | (740) | 0 | (1,244) | (55) | ||||
Commercial | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 180,812 | 220,695 | 176,219 | 206,100 | ||||
Financing Receivable, Allowance for Credit Losses | 114,437 | 139,353 | 114,437 | 139,353 | $ 124,633 | 134,075 | 142,098 | 141,450 |
Recorded Investment, Total | 191,340 | 191,340 | 173,706 | |||||
UPB, Total | 191,208 | 191,208 | 173,653 | |||||
Related Specific Allowance, Impaired loans | 23,050 | 23,050 | 18,776 | |||||
Provision for loan losses | 960 | 32,223 | 13,008 | 55,887 | ||||
Allowance for Loan and Lease Losses, Write-offs | (12,340) | (36,028) | (34,736) | (61,034) | ||||
Unallocated Financing Receivables [Member] | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 5,000 | 5,000 | $ 0 | $ 0 | ||||
Provision for loan losses | 5,000 | 5,000 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||||||
New Loans [Member] | Commercial real estate, Non-owner occupied | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
UPB, With a specific allowance recorded | 1,690 | 1,690 | ||||||
Related Specific Allowance, Impaired loans | 240 | 240 | ||||||
Non-Covered [Domain] | 1-4 single family residential | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 5,745 | 962 | 4,228 | 800 | ||||
Recorded Investment, With no specific allowance recorded | 4,241 | 4,241 | 120 | |||||
Recorded Investment, With a specific allowance recorded | 1,977 | 1,977 | 1,114 | |||||
UPB, With no specific allowance recorded | 4,138 | 4,138 | 122 | |||||
UPB, With a specific allowance recorded | 1,952 | 1,952 | 1,090 | |||||
Related Specific Allowance, Impaired loans | 143 | 143 | 63 | |||||
Non-Covered [Domain] | Home equity loans and lines of credit | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 0 | 0 | 0 | 0 | ||||
Non-Covered [Domain] | Commercial real estate, Non-owner occupied | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Recorded Investment, With a specific allowance recorded | 1,689 | 1,689 | 0 | |||||
UPB, With a specific allowance recorded | 0 | |||||||
Related Specific Allowance, Impaired loans | 0 | |||||||
Non-Covered [Domain] | Residential and Other Consumer | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 5,745 | 962 | 4,228 | 800 | ||||
Non-ACI Loans, Covered [Member] | 1-4 single family residential | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 1,906 | 2,304 | 2,164 | 2,369 | ||||
Recorded Investment, With no specific allowance recorded | 0 | 0 | 1,061 | |||||
Recorded Investment, With a specific allowance recorded | 956 | 956 | 1,160 | |||||
UPB, With no specific allowance recorded | 0 | 0 | 1,203 | |||||
UPB, With a specific allowance recorded | 1,145 | 1,145 | 1,314 | |||||
Related Specific Allowance, Impaired loans | 14 | 14 | 118 | |||||
Non-ACI Loans, Covered [Member] | Home equity loans and lines of credit | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 0 | 9,533 | 0 | 9,638 | ||||
Non-ACI Loans, Covered [Member] | Residential and Other Consumer | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Average recorded investment in impaired loans | 1,906 | 11,837 | 2,164 | 12,007 | ||||
Recorded Investment, Total | 956 | 956 | 2,221 | |||||
UPB, Total | 1,145 | 1,145 | 2,517 | |||||
Related Specific Allowance, Impaired loans | 14 | 14 | 118 | |||||
Covered [Member] | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 14 | 14 | 258 | |||||
Provision for loan losses | (50) | 261 | 517 | 2,693 | ||||
Allowance for Loan and Lease Losses, Write-offs | (740) | 0 | (979) | (55) | ||||
Covered [Member] | Residential and Other Consumer | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 14 | 14 | 258 | |||||
Provision for loan losses | (50) | 268 | 517 | 2,738 | ||||
Allowance for Loan and Lease Losses, Write-offs | (740) | 0 | (979) | (55) | ||||
Covered [Member] | Commercial | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | |||||
Provision for loan losses | 0 | (7) | 0 | (45) | ||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | 0 | 0 | ||||
Non-Covered [Domain] | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 124,726 | 124,726 | 144,537 | |||||
Provision for loan losses | 1,250 | 37,593 | 12,825 | 60,880 | ||||
Allowance for Loan and Lease Losses, Write-offs | (12,340) | (36,028) | (35,001) | (61,034) | ||||
Non-Covered [Domain] | Residential and Other Consumer | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 10,289 | 10,289 | 10,462 | |||||
Provision for loan losses | 290 | 363 | (183) | (52) | ||||
Allowance for Loan and Lease Losses, Write-offs | 0 | (265) | ||||||
Non-Covered [Domain] | Commercial | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 114,437 | 114,437 | $ 134,075 | |||||
Provision for loan losses | 960 | 32,230 | 13,008 | 55,932 | ||||
Allowance for Loan and Lease Losses, Write-offs | $ (12,340) | (36,028) | $ (34,736) | (61,034) | ||||
Non-Covered [Domain] | Unallocated Financing Receivables [Member] | ||||||||
Financing Receivable Impaired [Line Items] | ||||||||
Provision for loan losses | $ 5,000 | $ 5,000 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Schedule of Average Recorded Investment in Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Document Fiscal Year Focus | 2,018 | |||
Average recorded investment in impaired loans | $ 186,557 | $ 221,657 | $ 180,447 | $ 206,900 |
1-4 single family residential | Non-ACI Loans, Covered [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 1,906 | 2,304 | 2,164 | 2,369 |
1-4 single family residential | Non-Covered [Domain] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 5,745 | 962 | 4,228 | 800 |
Home equity loans and lines of credit | ACI loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 5,200 | 4,200 | ||
Home equity loans and lines of credit | Non-ACI Loans, Covered [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 0 | 9,533 | 0 | 9,638 |
Home equity loans and lines of credit | Non-Covered [Domain] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 0 | 0 | 0 | 0 |
Residential and Other Consumer | Non-ACI Loans, Covered [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 1,906 | 11,837 | 2,164 | 12,007 |
Residential and Other Consumer | Non-Covered [Domain] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 5,745 | 962 | 4,228 | 800 |
Multi-family | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 26,041 | 1,359 | 25,674 | 1,816 |
Commercial real estate, Non-owner occupied | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 14,577 | 8,216 | 13,858 | 4,056 |
Construction and land | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 7,766 | 2,797 | 5,386 | 3,317 |
Commercial real estate, Owner occupied | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 14,004 | 20,579 | 17,451 | 18,872 |
Taxi medallion [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 83,683 | 123,867 | 92,893 | 107,529 |
Other Commercial and industrial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 22,179 | 42,479 | 15,559 | 43,308 |
Commercial Lending Subsidiaries | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 12,562 | 21,398 | 5,398 | 27,202 |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | $ 180,812 | $ 220,695 | $ 176,219 | $ 206,100 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan and Lease Losses (Schedule of Recorded Investment in Loans, Other than ACI Loans, on Non-Accrual Status) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 205,478 | $ 170,065 |
Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 700 | 1,900 |
1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,021 | 9,705 |
1-4 single family residential | Non-ACI Loans, Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 167 | 1,341 |
Other Consumer Loans | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,956 | 821 |
Residential and Other Consumer | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,977 | 10,526 |
Residential and Other Consumer | Non-ACI Loans, Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 167 | 1,341 |
Multi-family | New Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 25,829 | 0 |
Commercial real estate, Non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 15,364 | 12,716 |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 10,166 | 1,175 |
Commercial real estate, Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 17,513 | 29,020 |
Taxi medallion [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 80,155 | 106,067 |
Other Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 24,036 | 7,049 |
Commercial Lending Subsidiaries | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 22,438 | 3,512 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 195,501 | $ 159,539 |
Loans and Allowance for Loan_11
Loans and Allowance for Loan and Lease Losses (Schedule of Credit Exposure for Non-Covered Loans Based on Original LTV and FICO Score) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 21,559,404 | $ 20,913,386 |
Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,380,725 | 4,145,879 |
Non-Covered [Domain] | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 390,075 | 358,156 |
Non-Covered [Domain] | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 463,052 | 434,177 |
Non-Covered [Domain] | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 765,816 | 685,670 |
Non-Covered [Domain] | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,761,782 | 2,667,876 |
60% or less | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,237,202 | 1,210,171 |
60% or less | Non-Covered [Domain] | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 103,798 | 91,965 |
60% or less | Non-Covered [Domain] | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 122,757 | 117,318 |
60% or less | Non-Covered [Domain] | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 200,142 | 185,096 |
60% or less | Non-Covered [Domain] | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 810,505 | 815,792 |
60% - 70% | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 995,068 | 942,287 |
60% - 70% | Non-Covered [Domain] | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 114,254 | 100,866 |
60% - 70% | Non-Covered [Domain] | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 108,560 | 103,387 |
60% - 70% | Non-Covered [Domain] | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 171,213 | 147,541 |
60% - 70% | Non-Covered [Domain] | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 601,041 | 590,493 |
70% - 80% | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,935,583 | 1,797,059 |
70% - 80% | Non-Covered [Domain] | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 155,595 | 149,209 |
70% - 80% | Non-Covered [Domain] | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 197,569 | 183,064 |
70% - 80% | Non-Covered [Domain] | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 360,631 | 324,884 |
70% - 80% | Non-Covered [Domain] | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,221,788 | 1,139,902 |
More than 80% | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 212,872 | 196,362 |
More than 80% | Non-Covered [Domain] | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 16,428 | 16,116 |
More than 80% | Non-Covered [Domain] | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 34,166 | 30,408 |
More than 80% | Non-Covered [Domain] | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 33,830 | 28,149 |
More than 80% | Non-Covered [Domain] | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 128,448 | $ 121,689 |
Loans and Allowance for Loan_12
Loans and Allowance for Loan and Lease Losses (Schedule of Commercial Credit Exposure Based on Internal Risk Ratings) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 21,559,404 | $ 20,913,386 |
Multi-family | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,762,998 | 3,218,953 |
Multi-family | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,690,193 | 3,124,819 |
Multi-family | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 6,459 | 34,837 |
Multi-family | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 66,346 | 59,297 |
Multi-family | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,567,589 | 4,474,801 |
Commercial real estate, Non-owner occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,499,176 | 4,360,827 |
Commercial real estate, Non-owner occupied | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 3,288 | 33,094 |
Commercial real estate, Non-owner occupied | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 65,125 | 80,880 |
Commercial real estate, Non-owner occupied | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Construction and land | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 244,619 | 310,484 |
Construction and land | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 234,453 | 305,043 |
Construction and land | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Construction and land | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 10,166 | 5,441 |
Construction and land | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,091,978 | 2,012,742 |
Commercial real estate, Owner occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,048,491 | 1,954,464 |
Commercial real estate, Owner occupied | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 8,774 | 22,161 |
Commercial real estate, Owner occupied | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 34,713 | 33,145 |
Commercial real estate, Owner occupied | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 2,972 |
Taxi medallion [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 80,155 | 106,067 |
Taxi medallion [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Taxi medallion [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Taxi medallion [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 80,155 | 104,682 |
Taxi medallion [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 1,385 |
Other Commercial and industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,628,390 | 4,031,760 |
Other Commercial and industrial [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,528,964 | 3,965,241 |
Other Commercial and industrial [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 43,732 | 37,591 |
Other Commercial and industrial [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 54,198 | 27,010 |
Other Commercial and industrial [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,496 | 1,918 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,482,125 | 1,524,622 |
Pinnacle Public Finance [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,482,125 | 1,524,622 |
Pinnacle Public Finance [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Pinnacle Public Finance [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Pinnacle Public Finance [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Bridge Funding Group [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,137,972 | 1,037,877 |
Bridge Funding Group [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,094,950 | 954,376 |
Bridge Funding Group [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,144 | 55,551 |
Bridge Funding Group [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 34,715 | 27,950 |
Bridge Funding Group [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 7,163 | 0 |
Commercial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 16,995,826 | 16,717,306 |
Commercial | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 16,578,352 | 16,189,392 |
Commercial | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 63,397 | 183,234 |
Commercial | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 345,418 | 338,405 |
Commercial | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 8,659 | $ 6,275 |
Loans and Allowance for Loan_13
Loans and Allowance for Loan and Lease Losses (Schedule of Financing Receivables Past Due) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Financing Receivable Investment Past Due [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Loans, Current | $ 21,338,513 | $ 20,840,121 |
Covered loans net of premiums, discounts and deferred fees and costs | 359,767 | 503,118 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 21,559,404 | 20,913,386 |
Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 13,071 | 19,958 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 16,764 | 20,473 |
Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 2,762,998 | 3,218,953 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,762,998 | 3,218,953 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 4,561,612 | 4,464,967 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,567,589 | 4,474,801 |
Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 238,573 | 309,309 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 244,619 | 310,484 |
Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 2,078,599 | 2,004,397 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,091,978 | 2,012,742 |
Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 63,236 | 88,394 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 80,155 | 106,067 |
Other Commercial and industrial [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 4,609,194 | 4,025,784 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,628,390 | 4,031,760 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,482,125 | 1,524,622 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,482,125 | 1,524,622 |
Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,136,744 | 1,037,025 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,137,972 | 1,037,877 |
ACI loans | Residential Portfolio Segment [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 18,000 |
Non-Covered [Domain] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 700 | 1,900 |
Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 4,365,863 | 4,121,624 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,380,725 | 4,145,879 |
Non-Covered [Domain] | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,694 | 1,633 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,715 | 1,654 |
Non-ACI Loans, Covered [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | 15,689 | 24,050 |
Non-ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 15,442 | 21,106 |
Covered loans net of premiums, discounts and deferred fees and costs | 15,689 | 24,050 |
ACI Loans, Covered [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | 344,078 | 479,068 |
ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 339,176 | 448,125 |
Covered loans net of premiums, discounts and deferred fees and costs | 344,078 | 479,068 |
ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 339,176 | 448,125 |
Covered loans net of premiums, discounts and deferred fees and costs | 344,078 | 479,068 |
30 - 59 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 14,563 | 37,292 |
30 - 59 Days Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 2,035 | 15 |
30 - 59 Days Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
30 - 59 Days Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 7,549 |
30 - 59 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
30 - 59 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,527 | 1,292 |
30 - 59 Days Past Due | Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 263 | 6,048 |
30 - 59 Days Past Due | Other Commercial and industrial [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 269 | 4,291 |
30 - 59 Days Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
30 - 59 Days Past Due | Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 852 |
30 - 59 Days Past Due | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 6,842 | 15,613 |
30 - 59 Days Past Due | Non-Covered [Domain] | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 21 | 21 |
30 - 59 Days Past Due | Non-ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 80 | 1,603 |
30 - 59 Days Past Due | ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 4,256 | 10,388 |
30 - 59 Days Past Due | ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 4,256 | 10,388 |
60 - 89 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 37,174 | 10,217 |
60 - 89 Days Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
60 - 89 Days Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
60 - 89 Days Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,080 | 0 |
60 - 89 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 4,950 | 0 |
60 - 89 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,271 | 499 |
60 - 89 Days Past Due | Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 3,294 | 3,333 |
60 - 89 Days Past Due | Other Commercial and industrial [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 16,336 | 291 |
60 - 89 Days Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
60 - 89 Days Past Due | Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
60 - 89 Days Past Due | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 3,102 | 4,941 |
60 - 89 Days Past Due | Non-Covered [Domain] | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
60 - 89 Days Past Due | Non-ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 67 | 0 |
60 - 89 Days Past Due | ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 410 | 2,719 |
60 - 89 Days Past Due | ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 410 | 2,719 |
90 Days or More Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 169,154 | 25,756 |
90 Days or More Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,658 | 500 |
90 Days or More Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
90 Days or More Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 4,897 | 2,285 |
90 Days or More Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,096 | 1,175 |
90 Days or More Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 10,581 | 6,554 |
90 Days or More Past Due | Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 13,362 | 8,292 |
90 Days or More Past Due | Other Commercial and industrial [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 2,591 | 1,394 |
90 Days or More Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
90 Days or More Past Due | Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,228 | 0 |
90 Days or More Past Due | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 4,918 | 3,701 |
90 Days or More Past Due | Non-Covered [Domain] | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
90 Days or More Past Due | Non-ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 100 | 1,341 |
90 Days or More Past Due | ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 236 | 17,836 |
90 Days or More Past Due | ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 236 | 17,836 |
US Government Agency Insured Loans [Member] | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 24,804 | 23,455 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 164,374 | 28,074 |
US Government Agency Insured Loans [Member] | 30 - 59 Days Past Due | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 3,606 | 1,611 |
US Government Agency Insured Loans [Member] | 60 - 89 Days Past Due | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 7,141 | 1,153 |
US Government Agency Insured Loans [Member] | 90 Days or More Past Due | Non-Covered [Domain] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 128,823 | $ 1,855 |
Loans and Allowance for Loan_14
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Schedule of Troubled Debt Restructurings) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Non-Covered [Domain] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 16 | 16 | 36 | 119 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8,163 | $ 6,417 | $ 13,558 | $ 92,624 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 5 | 8 | 6 | 10 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 526 | $ 2,374 | $ 626 | $ 3,778 |
Non-Covered [Domain] | 1-4 single family residential | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 11 | 0 | 24 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 956 | $ 0 | $ 4,986 | $ 351 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 4 | 2 | 5 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 311 | $ 269 | $ 411 | $ 269 |
Non-Covered [Domain] | Commercial real estate, Non-owner occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | 0 | 2 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,037 | $ 0 | $ 3,037 | $ 5,389 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Non-Covered [Domain] | Commercial real estate, Owner occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 2 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 4,522 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | ||
Non-Covered [Domain] | Taxi medallion [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 15 | 7 | 97 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 217 | $ 5,439 | $ 1,418 | $ 48,692 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 6 | 1 | 8 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 215 | $ 2,105 | $ 215 | $ 3,509 |
Non-Covered [Domain] | Other Commercial and industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | 3 | 14 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,953 | $ 978 | $ 4,117 | $ 20,860 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Non-Covered [Domain] | Commercial Lending Subsidiaries | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 12,810 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | ||
Non-ACI loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 939 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 70 | $ 0 | $ 70 |
Non-ACI loans [Member] | Home equity loans and lines of credit | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 5 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 939 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 70 |
FDIC Indemnification Asset (Gai
FDIC Indemnification Asset (Gains and Losses Associated with Covered Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Guarantor Obligations [Line Items] | ||||
Provision for loan losses | $ (1,200) | $ (37,854) | $ (13,342) | $ (63,573) |
Income from resolution of covered assets, net | 3,134 | 6,400 | 10,689 | 22,066 |
Gain on sale of loans, net | 8,691 | 2,447 | 12,960 | 6,601 |
Covered [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Provision for loan losses | 50 | (261) | (517) | (2,693) |
Income from resolution of covered assets, net | 3,134 | 6,400 | 10,689 | 22,066 |
Gain on sale of loans, net | 5,037 | 0 | 4,739 | (1,582) |
Gains (Losses) on Sales of Covered OREO | (260) | (35) | (796) | (65) |
Gain (Loss) Associated With Covered Assets | 7,961 | 6,104 | 14,115 | 17,726 |
Covered [Member] | Net Loss on FDIC Indemnification | ||||
Guarantor Obligations [Line Items] | ||||
Provision for loan losses | (40) | 215 | 413 | 2,095 |
Income from resolution of covered assets, net | (2,532) | (5,082) | (8,592) | (17,591) |
Gain on sale of loans, net | 5,449 | 0 | 5,692 | 1,266 |
Gains (Losses) on Sales of Covered OREO | 213 | 29 | 562 | 56 |
Gain (Loss) Associated With Covered Assets | 3,090 | (4,838) | (1,925) | (14,174) |
Covered [Member] | Net Impact on Pre-tax Earnings | ||||
Guarantor Obligations [Line Items] | ||||
Provision for loan losses | 10 | (46) | (104) | (598) |
Income from resolution of covered assets, net | 602 | 1,318 | 2,097 | 4,475 |
Gain on sale of loans, net | 10,486 | 0 | 10,431 | (316) |
Gains (Losses) on Sales of Covered OREO | (47) | (6) | (234) | (9) |
Gain (Loss) Associated With Covered Assets | $ 11,051 | $ 1,266 | $ 12,190 | $ 3,552 |
FDIC Indemnification Asset (Cha
FDIC Indemnification Asset (Changes in the FDIC Indemnification Asset) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
FDIC Indemnification Asset [Roll Forward] | |||||
FDIC Indemnification Asset and Liability, net | $ 295,635 | $ 515,910 | $ 515,910 | ||
Amortization of FDIC indemnification asset | $ (48,255) | $ (45,225) | (132,852) | (135,351) | (176,466) |
FDIC Indemnification Asset, Cash Payments Received | (8,341) | (21,589) | |||
Net gain (loss) on FDIC indemnification | 3,090 | $ (4,838) | (1,925) | $ (14,174) | (22,220) |
FDIC Indemnification Asset and Liability, net | $ 152,517 | $ 152,517 | $ 295,635 |
Income Taxes (Schedule of Effec
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 21.00% | 35.00% |
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent | (6.59%) | (7.36%) | (4.92%) | (7.75%) |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 6.89% | 5.60% | 6.91% | 5.60% |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | (3.29%) | (1.00%) | (1.62%) | (1.66%) |
Effective Income Tax Rate Reconciliation, Percent | 18.01% | 32.24% | 21.37% | 31.19% |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||||
Effective Income Tax Rate Reconciliation, Percent | 18.01% | 32.24% | 21.37% | 31.19% | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 21.00% | 35.00% | |
Amortization Method Qualified Affordable Housing Project Investments | $ 59 | $ 59 | $ 64 | ||
Qualified Affordable Housing Project Investments, Commitment | 17 | 17 | $ 26 | ||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 72 | $ 72 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities (Narrative) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Discontinuation of cash flow hedge, notional amount | $ 0 | $ 0 |
Financial collateral pledged for interest rate swaps | 32,000,000 | |
Fair value of Interest rate derivative contracts cleared through the CME | 0 | |
Amount expected to be reclassified from AOCI into income | (10,100,000) | |
Financial collateral pledged by counterparties to Company | (31,000,000) | |
Amounts reclassified from AOCI into earnings as a result of discontinuation of cash flow hedges or early extinguishment of debt | $ 0 | $ 0 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities (Interest Rate Contract Derivative Financial Instruments and Related Hedged Items) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Derivatives Fair Value [Line Items] | ||
Notional amount of interest rate derivatives | $ 4,949,598 | $ 4,392,790 |
Interest rate derivative assets, fair value | 37,960 | 27,627 |
Interest rate derivative liabilities, fair value | $ (38,320) | $ (25,373) |
Derivatives designated as cash flow hedges | Pay-fixed interest rate swaps | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 2.32% | 1.77% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 4 years 5 months 5 days | 4 years 3 months 23 days |
Notional amount of interest rate derivatives | $ 2,596,000 | $ 2,046,000 |
Derivatives designated as cash flow hedges | Pay-fixed interest rate swaps | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative liabilities, fair value | 0 | 0 |
Derivatives designated as cash flow hedges | Pay-fixed interest rate swaps | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative assets, fair value | $ 6,763 | $ 2,350 |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.96% | 3.87% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 5 years 10 months 8 days | 6 years 4 months 19 days |
Notional amount of interest rate derivatives | $ 1,051,884 | $ 1,028,041 |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative liabilities, fair value | (3,686) | (13,173) |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative assets, fair value | $ 26,933 | $ 10,856 |
Derivatives not designated as hedges | Pay-variable interest rate swaps | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.96% | 3.87% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 5 years 10 months 8 days | 6 years 4 months 19 days |
Notional amount of interest rate derivatives | $ 1,051,884 | $ 1,028,041 |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative liabilities, fair value | (34,581) | (12,189) |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative assets, fair value | $ 4,211 | $ 14,410 |
Derivatives not designated as hedges | Interest rate caps purchased, indexed to 1-month Libor [Domain] | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.27% | 2.81% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 1 year 1 month 23 days | 1 year 3 months 29 days |
Notional amount of interest rate derivatives | $ 124,915 | $ 145,354 |
Derivatives not designated as hedges | Interest rate caps purchased, indexed to 1-month Libor [Domain] | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative assets, fair value | $ 53 | $ 11 |
Derivatives not designated as hedges | Interest rate caps sold, indexed to 1-month Libor [Domain] [Domain] | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.27% | 2.81% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 1 year 1 month 23 days | 1 year 3 months 29 days |
Notional amount of interest rate derivatives | $ 124,915 | $ 145,354 |
Derivatives not designated as hedges | Interest rate caps sold, indexed to 1-month Libor [Domain] [Domain] | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Interest rate derivative liabilities, fair value | $ (53) | $ (11) |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities (Interest Rate Swaps Subject to Master Netting Agreements) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Gross Amounts Recognized, Derivative assets | $ 33,749 | $ 13,217 |
Gross Amounts Recognized, Derivative liabilities | (3,686) | (13,173) |
Gross Amounts Recognized, Derivative assets and liabilities | 30,063 | 44 |
Gross Amounts Offset in Balance Sheet, Derivative assets | 0 | 0 |
Gross Amounts Offset in Balance Sheet, Derivative liabilities | 0 | 0 |
Gross Amounts Offset in Balance Sheet, Derivative assets and liabilities | 0 | 0 |
Net Amounts Presented in Balance Sheet, Derivative assets | 33,749 | 13,217 |
Net Amounts Presented in Balance Sheet, Derivative liabilities | (3,686) | (13,173) |
Net Amounts Presented in Balance Sheet, Derivative assets and liabilities | 30,063 | 44 |
Gross Amounts Not Offset in Balance Sheet | ||
Derivative Instruments, Derivative assets | (3,432) | (7,996) |
Derivative Instruments, Derivative liabilities | 3,432 | 7,996 |
Derivative Instruments, Derivative assets and liabilities | 0 | 0 |
Collateral Pledged, Derivative assets | (30,306) | (5,221) |
Collateral Pledged, Derivative liabilities | 169 | 4,962 |
Collateral Pledged, Derivative assets and liabilities | (30,137) | (259) |
Net Amount, Derivative assets | 11 | 0 |
Net Amount, Derivative liabilities | (85) | (215) |
Net Amount, Derivative assets and liabilities | $ (74) | $ (215) |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities Derivative and Hedging Activities - Amount of loss reclassified from AOCI into Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Document Fiscal Year Focus | 2,018 | |||
Borrowings [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | $ 1,050 | $ 839 | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion | $ 2,001 | $ 7,463 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Oct. 23, 2018 | |
Stock Repurchased During Period, Value | $ 95,601 | $ 150,000 | |
Common Stock [Member] | |||
Stock Repurchased During Period, Shares | 2,431,649 | 3,777,107 | |
Stock Repurchased During Period, Value | $ 25 | $ 38 | |
Subsequent Event [Member] | |||
Stock Repurchase Program, Authorized Amount | $ 150,000 |
Stockholders' Equity (Changes i
Stockholders' Equity (Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Unrealized gains on investment securities available for sale: | ||||
Net unrealized holding gain (loss) arising during the period, Before Tax | $ (24,690) | $ 14,144 | $ (79,697) | $ 54,258 |
Amounts reclassified to gain on investment securities available for sale, net, Before Tax | (520) | (26,931) | (4,047) | (29,194) |
Net change in unrealized gains on securities available for sale, Before Tax | (25,210) | (12,787) | (83,744) | 25,064 |
Net unrealized holding gain (loss) arising during the period, Tax Effect | 6,543 | (5,587) | 21,120 | (21,432) |
Amounts reclassified to gain on investment securities available for sale, net, Tax Effect | 138 | 10,638 | 1,073 | 11,532 |
Net change in unrealized gains on securities available for sale, Tax Effect | 6,681 | 5,051 | 22,193 | (9,900) |
Net unrealized holding gain (loss) arising during the period, Net of Tax | (18,147) | 8,557 | (58,577) | 32,826 |
Amounts reclassified to gain on investment securities available for sale, net, Net of Tax | (382) | (16,293) | (2,974) | (17,662) |
Net change in unrealized gains on securities available for sale | (18,529) | (7,736) | (61,551) | 15,164 |
Unrealized losses on derivative instruments: | ||||
Net unrealized holding gain (loss) arising during the period, Before Tax | 14,335 | (281) | 54,660 | (13,780) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | (1,050) | 2,001 | (839) | 7,463 |
Net change in unrealized losses on derivative instruments, Before Tax | 13,285 | 1,720 | 53,821 | (6,317) |
Net unrealized holding gain (loss) arising during the period, Tax Effect | (3,799) | 111 | (14,485) | 5,443 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 278 | (791) | 222 | (2,948) |
Net change in unrealized losses on derivative instruments, Tax Effect | (3,521) | (680) | (14,263) | 2,495 |
Net unrealized holding gain (loss) arising during the period, Net of Tax | 10,536 | (170) | 40,175 | (8,337) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (772) | 1,210 | (617) | 4,515 |
Net change in unrealized gains on derivative instruments | 9,764 | 1,040 | 39,558 | (3,822) |
Other comprehensive income (loss), Before Tax | (11,925) | (11,067) | (29,923) | 18,747 |
Other comprehensive income (loss), Tax Effect | 3,160 | 4,371 | 7,930 | (7,405) |
Other comprehensive income (loss) | $ (8,765) | $ (6,696) | $ (21,993) | $ 11,342 |
Stockholders' Equity (Categorie
Stockholders' Equity (Categories of Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | $ 54,986 | $ 41,247 | ||
Other comprehensive income (loss) | $ (8,765) | $ (6,696) | (21,993) | 11,342 |
Other comprehensive income, Ending Balance | 41,895 | 52,589 | 41,895 | 52,589 |
Unrealized Gains on Investment Securities Available for Sale | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | 56,534 | 47,057 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | 9,187 | |||
Other comprehensive income (loss) | (61,551) | 15,164 | ||
Other comprehensive income, Ending Balance | 4,170 | 62,221 | 4,170 | 62,221 |
Unrealized Losses on Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | (1,548) | (5,810) | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | (285) | |||
Other comprehensive income (loss) | 39,558 | (3,822) | ||
Other comprehensive income, Ending Balance | $ 37,725 | $ (9,632) | 37,725 | $ (9,632) |
Accumulated Other Comprehensive Income | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,902 |
Equity Based Compensation (Narr
Equity Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 4.6 | $ 25.3 |
Document Fiscal Year Focus | 2,018 | |
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 1.1 | $ 3.8 |
Unvested and restricted share awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 30.2 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 11 months 13 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 666,277 | 618,306 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 40.32 | $ 40.25 |
Liability based awards settled in shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 90,642 | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 52,026 | 47,848 |
RSU and PSU Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 5.2 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 9 months 27 days | |
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 5.7 | |
Incentive Compensation Arrangements [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 4.8 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 2 months 29 days | |
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 1.1 |
Equity Based Compensation (Sche
Equity Based Compensation (Schedule of Nonvested Share Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Range of the closing price on date of grant, minimum (in Dollars per Share) | $ 39.04 | $ 33.21 | ||
Range of the closing price on date of grant, maximum (in Dollars per Share) | $ 42.80 | $ 40.84 | ||
Aggregate grant date fair value of shares vesting | $ 18,341 | $ 17,429 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 978,999 | 1,297,968 | 1,270,688 | 3,602,076 |
Unvested and restricted share awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,172,820 | 1,111,300 | 1,108,477 | 1,120,700 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 38.95 | $ 36.04 | $ 36.06 | $ 31.46 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 666,277 | 618,306 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 40.32 | $ 40.25 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (529,469) | (550,382) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 34.64 | $ 31.67 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | (72,465) | (77,324) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 38.77 | $ 34.40 |
Equity Based Compensation Sched
Equity Based Compensation Schedule of Other Share-Based Compensation, Activity (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unvested and restricted share awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 30.2 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 666,277 | 618,306 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (529,469) | (550,382) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,172,820 | 1,111,300 | 1,108,477 | 1,120,700 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 38.95 | $ 36.04 | $ 36.06 | $ 31.46 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 40.32 | 40.25 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 34.64 | $ 31.67 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | (72,465) | (77,324) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 38.77 | $ 34.40 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 11 months 13 days | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 52,026 | 47,848 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 143,194 | 126,409 | 91,168 | 78,561 |
Performance share units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 52,026 | 47,848 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 157,747 | 105,721 | 105,721 | 57,873 |
RSU and PSU Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 5.2 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 9 months 27 days |
Equity Based Compensation (Sc_2
Equity Based Compensation (Schedule of Stock Options Activity) (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Number of Option Awards | ||||
Exercised (in Shares) | (291,689) | (2,304,108) | ||
Weighted Average Exercise Price | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 26.49 | $ 26.70 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 4.6 | $ 25.3 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 978,999 | 1,297,968 | 1,270,688 | 3,602,076 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 27.07 | $ 26.81 | $ 26.93 | $ 26.74 |
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 1.1 | $ 3.8 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 978,999 | 1,297,968 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 27.07 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Document Fiscal Year Focus | 2,018 | |||||||
Assets, fair value | $ 7,292,976 | $ 7,292,976 | $ 6,739,196 | |||||
Liabilities at fair value | 38,320 | 38,320 | 25,373 | |||||
Derivative Financial Instruments, Liabilities [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Liabilities at fair value | 38,320 | 38,320 | 25,373 | |||||
US Treasury securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 34,846 | 34,846 | 24,953 | |||||
U.S. Government agency and sponsored enterprise residential MBS | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 1,929,830 | 1,929,830 | 2,058,027 | |||||
U.S. Government agency and sponsored enterprise commercial MBS | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 239,130 | 239,130 | 234,508 | |||||
Private label residential mortgage-backed securities and CMOs | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) | 1,319 | $ 24,146 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | $ 24,146 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 37,402 | 60,797 | 37,402 | 60,797 | $ 40,564 | 52,214 | $ 108,790 | $ 120,610 |
Assets, fair value | 1,008,540 | 1,008,540 | 628,247 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | (1,043) | (24,668) | (4,504) | (25,651) | ||||
Amortization | 701 | 2,332 | 2,286 | 5,208 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | (40,732) | 5,120 | (40,732) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | 2,820 | 9,071 | 8,793 | 22,784 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) for assets held at end period | (1,043) | (522) | (3,035) | (14,251) | ||||
Private label commercial mortgage-backed securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 1,167,873 | 1,167,873 | 1,046,415 | |||||
Single family rental real estate-backed securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 520,120 | 520,120 | 562,706 | |||||
Collateralized loan obligations | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 1,187,327 | 1,187,327 | 723,681 | |||||
Non-mortgage asset-backed securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 207,158 | 207,158 | 121,747 | |||||
Marketable equity securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 62,360 | 62,360 | 63,543 | |||||
State and municipal obligations | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 422,775 | 422,775 | 657,203 | |||||
SBA securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 431,780 | 431,780 | 550,682 | |||||
Other debt securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 5,664 | 5,024 | 5,664 | 5,024 | 5,581 | 5,329 | 4,923 | 4,572 |
Assets, fair value | 5,664 | 5,664 | 9,120 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 75 | 101 | 362 | 469 | ||||
Amortization | 19 | 59 | 232 | 248 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | 11 | 59 | 259 | 265 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) for assets held at end period | 75 | 101 | 362 | 469 | ||||
Servicing Rights [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (2,390) | (1,330) | (4,011) | (4,273) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 37,613 | 30,136 | 37,613 | 30,136 | $ 35,915 | 30,737 | $ 29,128 | $ 27,159 |
Assets, fair value | 37,613 | 37,613 | 30,737 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 4,088 | $ 2,338 | 10,887 | $ 7,250 | ||||
Derivative Financial Instruments, Assets [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 37,960 | 37,960 | 27,627 | |||||
Fair Value, Inputs, Level 1 | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 97,206 | 97,206 | 88,496 | |||||
Fair Value, Inputs, Level 1 | US Treasury securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 34,846 | 34,846 | 24,953 | |||||
Fair Value, Inputs, Level 1 | Marketable equity securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 62,360 | 62,360 | 63,543 | |||||
Fair Value, Inputs, Level 2 | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 7,115,091 | 7,115,091 | 6,562,420 | |||||
Liabilities at fair value | 38,320 | 38,320 | 25,373 | |||||
Fair Value, Inputs, Level 2 | Derivative Financial Instruments, Liabilities [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Liabilities at fair value | 38,320 | 38,320 | 25,373 | |||||
Fair Value, Inputs, Level 2 | U.S. Government agency and sponsored enterprise residential MBS | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 1,929,830 | 1,929,830 | 2,058,027 | |||||
Fair Value, Inputs, Level 2 | U.S. Government agency and sponsored enterprise commercial MBS | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 239,130 | 239,130 | 234,508 | |||||
Fair Value, Inputs, Level 2 | Private label residential mortgage-backed securities and CMOs | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 971,138 | 971,138 | 576,033 | |||||
Fair Value, Inputs, Level 2 | Private label commercial mortgage-backed securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 1,167,873 | 1,167,873 | 1,046,415 | |||||
Fair Value, Inputs, Level 2 | Single family rental real estate-backed securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 520,120 | 520,120 | 562,706 | |||||
Fair Value, Inputs, Level 2 | Collateralized loan obligations | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 1,187,327 | 1,187,327 | 723,681 | |||||
Fair Value, Inputs, Level 2 | Non-mortgage asset-backed securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 207,158 | 207,158 | 121,747 | |||||
Fair Value, Inputs, Level 2 | Marketable equity securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 0 | 0 | 0 | |||||
Fair Value, Inputs, Level 2 | State and municipal obligations | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 422,775 | 422,775 | 657,203 | |||||
Fair Value, Inputs, Level 2 | SBA securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 431,780 | 431,780 | 550,682 | |||||
Fair Value, Inputs, Level 2 | Other debt securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 0 | 0 | 3,791 | |||||
Fair Value, Inputs, Level 2 | Servicing Rights [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 0 | 0 | 0 | |||||
Fair Value, Inputs, Level 2 | Derivative Financial Instruments, Assets [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 37,960 | 37,960 | 27,627 | |||||
Fair Value, Inputs, Level 3 | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 80,679 | 80,679 | 88,280 | |||||
Liabilities at fair value | 0 | 0 | 0 | |||||
Fair Value, Inputs, Level 3 | Derivative Financial Instruments, Liabilities [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Liabilities at fair value | 0 | 0 | 0 | |||||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMOs | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 37,402 | 37,402 | 52,214 | |||||
Fair Value, Inputs, Level 3 | Other debt securities | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 5,664 | 5,664 | 5,329 | |||||
Fair Value, Inputs, Level 3 | Servicing Rights [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | 37,613 | 37,613 | 30,737 | |||||
Fair Value, Inputs, Level 3 | Derivative Financial Instruments, Assets [Member] | ||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
Assets, fair value | $ 0 | $ 0 | $ 0 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Document Fiscal Year Focus | 2,018 | ||
Asset transfers | $ 0 | $ 0 | |
Assets, fair value | 7,292,976 | 6,739,196 | |
Servicing Rights [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | 400 | $ (800) | |
Assets, fair value | 37,613 | 30,737 | |
Other debt securities | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 5,664 | 9,120 | |
Private label residential mortgage-backed securities and CMOs | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 1,008,540 | 628,247 | |
Fair Value, Inputs, Level 3 | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 80,679 | 88,280 | |
Fair Value, Inputs, Level 3 | Servicing Rights [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 37,613 | 30,737 | |
Fair Value, Inputs, Level 3 | Other debt securities | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 5,664 | 5,329 | |
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMOs | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 37,402 | $ 52,214 | |
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Investment grade | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | $ 22,805 | ||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Investment grade | Weighted Average | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Current subordination level (in Percent) | 18.10% | ||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Non-investment grade | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | $ 14,597 | ||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Weighted Average | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Current subordination level (in Percent) | 11.30% |
Fair Value Measurements (Change
Fair Value Measurements (Changes in the Fair Value of Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Document Fiscal Year Focus | 2,018 | |||
Private label residential mortgage-backed securities and CMOs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period, fair value of assets | $ 40,564 | $ 108,790 | $ 52,214 | $ 120,610 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | 24,146 | ||
Gains (losses) for the period included in Other comprehensive income (loss) | (1,043) | (24,668) | (4,504) | (25,651) |
Amortization | 701 | 2,332 | 2,286 | 5,208 |
Sales | 0 | 40,732 | (5,120) | 40,732 |
Settlements | (2,820) | (9,071) | (8,793) | (22,784) |
Balance at end of period, fair value of assets | 37,402 | 60,797 | 37,402 | 60,797 |
Other debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period, fair value of assets | 5,581 | 4,923 | 5,329 | 4,572 |
Gains (losses) for the period included in Other comprehensive income (loss) | 75 | 101 | 362 | 469 |
Amortization | 19 | 59 | 232 | 248 |
Settlements | (11) | (59) | (259) | (265) |
Balance at end of period, fair value of assets | 5,664 | 5,024 | 5,664 | 5,024 |
Servicing Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period, fair value of assets | 35,915 | 29,128 | 30,737 | 27,159 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (2,390) | (1,330) | (4,011) | (4,273) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 4,088 | 2,338 | 10,887 | 7,250 |
Balance at end of period, fair value of assets | $ 37,613 | $ 30,136 | $ 37,613 | $ 30,136 |
Fair Value Measurements (Valuat
Fair Value Measurements (Valuation Techniques and Unobservable Inputs Used in the Valuation of Financial Instruments Falling within Level 3 of the Fair Value Hierarchy) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | $ 7,292,976 | $ 7,292,976 | $ 6,739,196 | |||||
Residential Mortgage Backed Securities [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 37,402 | $ 60,797 | 37,402 | $ 60,797 | $ 40,564 | 52,214 | $ 108,790 | $ 120,610 |
Total fair value of assets | 1,008,540 | 1,008,540 | 628,247 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | 24,146 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | (1,043) | (24,668) | (4,504) | (25,651) | ||||
Amortization | 701 | 2,332 | 2,286 | 5,208 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | 40,732 | (5,120) | 40,732 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (2,820) | (9,071) | $ (8,793) | (22,784) | ||||
Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Minimum | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 10.40% | |||||||
Probability rate of default | 0.00% | |||||||
Loss severity | 15.00% | |||||||
Fair Value Inputs, Discount Rate | 0.47% | |||||||
Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Maximum [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 25.50% | |||||||
Probability rate of default | 6.75% | |||||||
Loss severity | 100.00% | |||||||
Fair Value Inputs, Discount Rate | 8.81% | |||||||
Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Weighted Average | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 18.33% | |||||||
Probability rate of default | 1.67% | |||||||
Loss severity | 28.36% | |||||||
Fair Value Inputs, Discount Rate | 4.57% | |||||||
Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Minimum | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 1.20% | |||||||
Probability rate of default | 0.00% | |||||||
Loss severity | 15.00% | |||||||
Fair Value Inputs, Discount Rate | 1.29% | |||||||
Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Maximum [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 25.00% | |||||||
Probability rate of default | 5.85% | |||||||
Loss severity | 80.00% | |||||||
Fair Value Inputs, Discount Rate | 10.99% | |||||||
Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Weighted Average | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 17.37% | |||||||
Probability rate of default | 2.91% | |||||||
Loss severity | 33.67% | |||||||
Fair Value Inputs, Discount Rate | 6.19% | |||||||
Residential Servicing Rights [Member] | Discounted cash flow | Minimum | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 3.76% | |||||||
Fair Value Inputs, Discount Rate | 10.25% | |||||||
Residential Servicing Rights [Member] | Discounted cash flow | Maximum [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 21.83% | |||||||
Fair Value Inputs, Discount Rate | 10.32% | |||||||
Residential Servicing Rights [Member] | Discounted cash flow | Weighted Average | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 10.44% | |||||||
Fair Value Inputs, Discount Rate | 10.26% | |||||||
Commercial Servicing Rights [Member] | Discounted cash flow | Minimum | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 0.83% | |||||||
Fair Value Inputs, Discount Rate | 3.05% | |||||||
Commercial Servicing Rights [Member] | Discounted cash flow | Maximum [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 15.61% | |||||||
Fair Value Inputs, Discount Rate | 22.69% | |||||||
Commercial Servicing Rights [Member] | Discounted cash flow | Weighted Average | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value Inputs, Prepayment Rate | 11.40% | |||||||
Fair Value Inputs, Discount Rate | 14.38% | |||||||
Other Debt Obligations [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 5,664 | 5,024 | $ 5,664 | 5,024 | 5,581 | 5,329 | 4,923 | 4,572 |
Total fair value of assets | 5,664 | 5,664 | 9,120 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 75 | 101 | 362 | 469 | ||||
Amortization | 19 | 59 | 232 | 248 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (11) | (59) | (259) | (265) | ||||
Servicing Rights [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 37,613 | 30,136 | 37,613 | 30,136 | $ 35,915 | 30,737 | $ 29,128 | $ 27,159 |
Total fair value of assets | 37,613 | 37,613 | 30,737 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (2,390) | (1,330) | (4,011) | (4,273) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 4,088 | $ 2,338 | 10,887 | $ 7,250 | ||||
Fair Value, Inputs, Level 3 | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | 80,679 | 80,679 | 88,280 | |||||
Fair Value, Inputs, Level 3 | Residential Mortgage Backed Securities [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | 37,402 | 37,402 | 52,214 | |||||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Investment grade | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | 22,805 | 22,805 | ||||||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Non-investment grade | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | 14,597 | 14,597 | ||||||
Fair Value, Inputs, Level 3 | Residential Servicing Rights [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | 27,852 | 27,852 | ||||||
Fair Value, Inputs, Level 3 | Commercial Servicing Rights [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | 9,761 | 9,761 | ||||||
Fair Value, Inputs, Level 3 | Other Debt Obligations [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | 5,664 | 5,664 | 5,329 | |||||
Fair Value, Inputs, Level 3 | Servicing Rights [Member] | ||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||||
Total fair value of assets | $ 37,613 | $ 37,613 | $ 30,737 |
Fair Value Measurements (Asse_2
Fair Value Measurements (Assets for which Nonrecurring Changes in Fair Value have been Recorded) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
OREO and Repossessed Assets [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | $ 1,951 | $ 5,520 | $ 1,951 | $ 5,520 |
Losses from Nonrecurring Fair Value Changes | (646) | (515) | (2,447) | (1,534) |
OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 3 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | 651 | 5,520 | 651 | 5,520 |
OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 2 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | 1,300 | 0 | 1,300 | 0 |
Impaired Loans [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | 83,465 | 107,173 | 83,465 | 107,173 |
Losses from Nonrecurring Fair Value Changes | (1,552) | (35,106) | (14,510) | (58,073) |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | 22,436 | 107,173 | 22,436 | 107,173 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | 61,029 | 0 | 61,029 | 0 |
Taxi medallion [Member] | OREO and Repossessed Assets [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Losses from Nonrecurring Fair Value Changes | (200) | (600) | (600) | (1,000) |
Taxi medallion [Member] | OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 3 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | 1,300 | 2,500 | 1,300 | 2,500 |
Taxi medallion [Member] | Impaired Loans [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Losses from Nonrecurring Fair Value Changes | (11,700) | (54,300) | ||
Taxi medallion [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets with Nonrecurring Changes in Fair Value | $ 61,000 | $ 90,100 | $ 61,000 | $ 90,100 |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Value and Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Assets: | ||
Investments, Fair Value Disclosure | $ 7,227,403 | $ 6,690,832 |
Non-marketable equity securities | 273,427 | 265,989 |
Loans and Leases Receivable, Net Amount | 21,434,678 | 20,768,849 |
FDIC indemnification asset | 152,517 | 295,635 |
Derivative assets | 11 | 0 |
Liabilities: | ||
Time Deposits | 6,715,793 | 6,334,842 |
Federal Funds Purchased | 175,000 | 0 |
Derivative liabilities | 85 | 215 |
Fair Value, Inputs, Level 1 | ||
Assets: | ||
Cash and cash equivalents | 279,799 | 194,582 |
Fair Value, Inputs, Level 2 | ||
Assets: | ||
Non-marketable equity securities | 273,427 | 265,989 |
Loans held for sale | 40,581 | 37,847 |
Derivative assets | 37,960 | 27,627 |
Liabilities: | ||
Demand, savings and money market deposits | 15,589,497 | 15,543,637 |
Time Deposits | 6,701,219 | 6,324,010 |
Federal Funds Purchased | 175,000 | |
FHLB advances | 4,948,464 | 4,774,160 |
Notes Payable, Fair Value Disclosure | 414,915 | 435,361 |
Derivative liabilities | 38,320 | 25,373 |
Fair Value, Inputs, Level 3 | ||
Assets: | ||
Loans and Leases Receivable, Net Reported Amount, Covered | 627,924 | 922,888 |
Loans and Leases Receivable, Net Amount | 21,407,477 | 20,759,567 |
FDIC indemnification asset | 68,500 | 148,356 |
Carrying Value | ||
Assets: | ||
Cash and cash equivalents | 279,799 | 194,582 |
Investments, Fair Value Disclosure | 7,227,403 | 6,690,832 |
Non-marketable equity securities | 273,427 | 265,989 |
Loans held for sale | 37,179 | 34,097 |
Loans and Leases Receivable, Net Reported Amount, Covered | 359,753 | 502,860 |
Loans and Leases Receivable, Net Amount | 21,434,678 | 20,768,849 |
FDIC indemnification asset | 152,517 | 295,635 |
Derivative assets | 37,960 | 27,627 |
Liabilities: | ||
Demand, savings and money market deposits | 15,589,497 | 15,543,637 |
Time Deposits | 6,715,793 | 6,334,842 |
Federal Funds Purchased | 175,000 | |
FHLB advances | 4,946,000 | 4,771,000 |
Notes Payable, Fair Value Disclosure | 402,780 | 402,830 |
Derivative liabilities | $ 38,320 | $ 25,373 |
Commitments and Contingencies_2
Commitments and Contingencies (Total Lending Related Commitments Outstanding) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Lending Related Commitments [Line Items] | |
Document Fiscal Year Focus | 2,018 |
Unused Commitments to Extend Credit | $ 3,920,354 |
Commitments to fund loans | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | 577,539 |
Commitments to purchase loans | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | 398,745 |
Unfunded commitments under lines of credit [Member] | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | 2,855,444 |
Commercial and standby letters of credit | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | $ 88,626 |