Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 25, 2019 | Jun. 30, 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-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | Q4 | ||
Amendment Flag | false | ||
Entity Common Stock Shares Outstanding | 98,591,661 | ||
Entity Public Float | $ 4,287,268,982 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and due from banks: | ||
Non-interest bearing | $ 9,392 | $ 35,246 |
Interest bearing | 372,681 | 159,336 |
Cash and cash equivalents | 382,073 | 194,582 |
Investment securities (including securities recorded at fair value of $8,156,878 and $6,680,832) | 8,166,878 | 6,690,832 |
Non-marketable equity securities | 267,052 | 265,989 |
Loans held for sale | 36,992 | 34,097 |
Loans (including covered loans of $201,376 and $503,118) | 21,977,008 | 21,416,504 |
Allowance for loan and lease losses | (109,931) | (144,795) |
Loans, net | 21,867,077 | 21,271,709 |
FDIC indemnification asset | 0 | 295,635 |
Bank owned life insurance | 263,340 | 252,462 |
Equipment under operating lease, net | 702,354 | 599,502 |
Goodwill and other intangible assets | 77,718 | 77,796 |
Other assets | 400,842 | 664,382 |
Total assets | 32,164,326 | 30,346,986 |
Demand deposits: | ||
Non-interest bearing | 3,621,254 | 3,071,032 |
Interest bearing | 1,771,465 | 1,757,581 |
Savings and money market | 11,261,746 | 10,715,024 |
Time Deposits | 6,819,758 | 6,334,842 |
Total deposits | 23,474,223 | 21,878,479 |
Federal Funds Purchased | 175,000 | 0 |
Federal Home Loan Bank advances | 4,796,000 | 4,771,000 |
Notes and other borrowings | 402,749 | 402,830 |
Other liabilities | 392,521 | 268,615 |
Total liabilities | 29,240,493 | 27,320,924 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Common stock, par value $0.01 per share, 400,000,000 shares authorized; 99,141,374 and 106,848,185 shares issued and outstanding | 991 | 1,068 |
Paid-in capital | 1,220,147 | 1,498,227 |
Retained earnings | 1,697,822 | 1,471,781 |
Accumulated other comprehensive income | 4,873 | 54,986 |
Total stockholders' equity | 2,923,833 | 3,026,062 |
Total liabilities and stockholders' equity | $ 32,164,326 | $ 30,346,986 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Investments, Fair Value Disclosure | $ 8,156,878,000 | $ 6,680,832,000 |
ASSETS | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 201,376,000 | $ 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) | 99,141,374 | 106,848,185 |
Common stock, shares outstanding (in Shares) | 99,141,374 | 106,848,185 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest income: | |||
Loans | $ 1,198,241 | $ 1,001,862 | $ 896,154 |
Investment Securities | 233,091 | 188,307 | 150,859 |
Other | 17,812 | 14,292 | 12,204 |
Total interest income | 1,449,144 | 1,204,461 | 1,059,217 |
Interest expense: | |||
Deposits | 284,563 | 170,933 | 119,773 |
Borrowings | 114,488 | 83,256 | 69,059 |
Total interest expense | 399,051 | 254,189 | 188,832 |
Net interest income before provision for loan losses | 1,050,093 | 950,272 | 870,385 |
Provision for loan losses | 25,925 | 68,747 | 50,911 |
Net interest income after provision for loan losses | 1,024,168 | 881,525 | 819,474 |
Non-interest income: | |||
Income from resolution of covered assets, net | 11,551 | 27,450 | 36,155 |
Net loss on FDIC indemnification | (4,199) | (22,220) | (17,759) |
Deposit service charges and fees | 14,040 | 12,997 | 12,780 |
Gain on sale of loans, net | 15,864 | 27,589 | (4,406) |
Gain on investment securities, net | 3,159 | 33,466 | 14,461 |
Lease financing | 61,685 | 53,837 | 44,738 |
Other non-interest income | 29,922 | 24,785 | 20,448 |
Total non-interest income | 132,022 | 157,904 | 106,417 |
Non-interest expense: | |||
Employee compensation and benefits | 254,997 | 237,824 | 223,011 |
Occupancy and equipment | 55,899 | 58,100 | 59,022 |
Amortization of FDIC indemnification asset | 261,763 | 176,466 | 160,091 |
Deposit insurance expense | 18,984 | 22,011 | 17,806 |
Professional fees | 16,539 | 23,676 | 14,249 |
Technology and telecommunications | 35,136 | 31,252 | 31,324 |
Depreciation of equipment under operating lease | 40,025 | 35,015 | 31,580 |
Other non-interest expense | 57,197 | 50,624 | 53,364 |
Total non-interest expense | 740,540 | 634,968 | 590,447 |
Income before income taxes | 415,650 | 404,461 | 335,444 |
Provision (benefit) for income taxes | 90,784 | (209,812) | 109,703 |
Net income | $ 324,866 | $ 614,273 | $ 225,741 |
Earnings Per Share, Basic | $ 3.01 | $ 5.60 | $ 2.11 |
Earnings Per Share, Diluted | $ 2.99 | $ 5.58 | $ 2.09 |
CONSOLIDATED STATEMENTS OF IN_2
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Provision for loan losses | $ 12,583 | $ 1,200 | $ 8,995 | $ 3,147 | $ 5,174 | $ 37,854 | $ 13,619 | $ 12,100 | $ 25,925 | $ 68,747 | $ 50,911 |
Non-interest income: | |||||||||||
Gain on sale of loans, net | 15,864 | 27,589 | (4,406) | ||||||||
Covered [Member] | |||||||||||
Provision for loan losses | 235 | 261 | 752 | 1,358 | (1,681) | ||||||
Non-interest income: | |||||||||||
Gain on sale of loans, net | $ 993 | $ 0 | $ 5,732 | $ 17,406 | $ (14,470) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||||||||||
Net income | $ 52,403 | $ 97,328 | $ 89,900 | $ 85,235 | $ 417,794 | $ 67,779 | $ 66,407 | $ 62,293 | $ 324,866 | $ 614,273 | $ 225,741 |
Unrealized gains on investment securities available for sale: | |||||||||||
Net unrealized holding gain (loss) arising during the period | (57,041) | 29,724 | 14,271 | ||||||||
Reclassification adjustment for net securities gains realized in income | (4,486) | (20,247) | (8,749) | ||||||||
Net change in unrealized gain on securities available for sale | (61,527) | 9,477 | 5,522 | ||||||||
Unrealized gains on derivative instruments: | |||||||||||
Net unrealized holding gain (loss) arising during the period | 3,981 | (1,559) | 3,766 | ||||||||
Reclassification adjustment for net (gains) losses realized in income | (1,469) | 5,821 | 9,777 | ||||||||
Net change in unrealized gains on derivative instruments | 2,512 | 4,262 | 13,543 | ||||||||
Other comprehensive income (loss) | (59,015) | 13,739 | 19,065 | ||||||||
Comprehensive income | $ 265,851 | $ 628,012 | $ 244,806 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | |||
Net income | $ 324,866 | $ 614,273 | $ 225,741 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Amortization and accretion, net | (86,549) | (95,145) | (113,979) |
Provision for loan losses | 25,925 | 68,747 | 50,911 |
Income from resolution of covered assets, net | (11,551) | (27,450) | (36,155) |
Net loss on FDIC indemnification | 4,199 | 22,220 | 17,759 |
(Gain) loss on sale of loans, net | (15,864) | (27,589) | 4,406 |
Gain on investment securities, net | (3,159) | (33,466) | (14,461) |
Equity based compensation | 23,137 | 22,692 | 18,032 |
Depreciation and amortization | 64,268 | 61,552 | 56,444 |
Deferred income taxes | 67,778 | 57,801 | 30,189 |
Proceeds from sale of loans held for sale | 268,589 | 158,621 | 163,088 |
Loans originated for sale, net of repayments | (155,974) | (142,682) | (148,195) |
Other: | |||
(Increase) decrease in other assets | 236,461 | (319,629) | 21,371 |
Increase (decrease) in other liabilities | 82,126 | (41,319) | 33,359 |
Net cash provided by operating activities | 824,252 | 318,626 | 308,510 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | |||
Purchase of investment securities | (4,138,994) | (3,131,798) | (3,058,106) |
Proceeds from repayments and calls of investment securities | 1,533,951 | 1,260,444 | 724,666 |
Proceeds from sale of investment securities | 1,030,810 | 1,287,591 | 1,127,983 |
Purchase of non-marketable equity securities | (308,126) | (248,405) | (255,100) |
Proceeds from redemption of non-marketable equity securities | 307,063 | 266,688 | 190,825 |
Purchases of loans | (1,308,772) | (1,300,996) | (1,266,097) |
Loan originations, repayments and resolutions, net | 404,769 | (672,338) | (1,394,916) |
Proceeds from sale of loans, net | 544,745 | 196,413 | 171,367 |
Proceeds from sale of equipment under operating lease | 52,134 | 4,950 | 583 |
Proceeds from Sale of Mortgage Servicing Rights (MSR) | 34,573 | 0 | 0 |
Acquisition of equipment under operating lease | (190,500) | (99,553) | (88,559) |
Other investing activities | (3,184) | (15,572) | 21,123 |
Net cash used in investing activities | (2,041,531) | (2,452,576) | (3,826,231) |
Cash flows from financing activities: | |||
Net increase in deposits | 1,595,744 | 2,387,589 | 2,552,389 |
Net increase in federal funds purchased | 175,000 | 0 | 0 |
Additions to Federal Home Loan Bank advances | 4,647,000 | 4,916,000 | 4,025,000 |
Repayments of Federal Home Loan Bank advances | (4,622,000) | (5,385,000) | (2,795,000) |
Dividends paid | (91,305) | (91,628) | (89,824) |
Exercise of stock options | 7,727 | 62,095 | 791 |
Repurchase of common stock | (299,972) | 0 | 0 |
Other financing activities | (7,424) | (8,837) | 5,178 |
Net cash provided by financing activities | 1,404,770 | 1,880,219 | 3,698,534 |
Net increase (decrease) in cash and cash equivalents | 187,491 | (253,731) | 180,813 |
Cash and cash equivalents, beginning of period | 194,582 | 448,313 | 267,500 |
Cash and cash equivalents, end of period | 382,073 | 194,582 | 448,313 |
Supplemental Cash Flow Information [Abstract] | |||
Interest paid | 387,801 | 247,548 | 186,525 |
Income taxes (refunded) paid, net | (288,267) | 69,231 | 16,464 |
Supplemental schedule of non-cash investing and financing activities: | |||
Transfers from loans to other real estate owned and other repossessed assets | 9,709 | 13,313 | 17,045 |
Transfers from loans to loans held for sale | 108,503 | 1,973 | 2,090 |
Dividends declared, not paid | 21,673 | 23,055 | 22,510 |
Obligations incurred in acquisition of affordable housing limited partnerships | $ 4,710 | $ 0 | $ 12,750 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income |
Common Stock, Dividends, Per Share, Declared | $ 0.84 | ||||
Balance (in Shares) at Dec. 31, 2015 | 103,626,255 | ||||
Balance at Dec. 31, 2015 | $ 2,243,898 | $ 1,036 | $ 1,406,786 | $ 813,894 | $ 22,182 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 244,806 | 225,741 | 19,065 | ||
Dividends ($0.84 per common share) | (89,954) | (89,954) | |||
Equity based compensation (in Shares) | 651,760 | ||||
Equity based compensation | 18,033 | $ 7 | 18,026 | ||
Forfeiture of unvested shares (in Shares) | (159,049) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | $ (485) | $ (1) | (484) | ||
Exercise of stock options (in Shares) | 47,979 | 47,979 | |||
Exercise of stock options | $ 791 | $ 0 | 791 | ||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 1,340 | 1,340 | |||
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 |
Common Stock, Dividends, Per Share, Declared | $ 0.84 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | $ 628,012 | 614,273 | 13,739 | ||
Dividends ($0.84 per common share) | (92,173) | (92,173) | |||
Equity based compensation (in Shares) | 621,806 | ||||
Equity based compensation | 16,996 | $ 6 | 16,990 | ||
Forfeiture of unvested shares (in Shares) | (271,954) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | $ (7,297) | $ (3) | (7,294) | ||
Exercise of stock options (in Shares) | 2,331,388 | 2,331,388 | |||
Exercise of stock options | $ 62,095 | $ 23 | 62,072 | ||
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 |
Common Stock, Dividends, Per Share, Declared | $ 0.84 | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (8,902) | 8,902 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | $ 265,851 | 324,866 | (59,015) | ||
Dividends ($0.84 per common share) | (89,923) | (89,923) | |||
Equity based compensation (in Shares) | 696,729 | ||||
Equity based compensation | 20,647 | $ 7 | 20,640 | ||
Forfeiture of unvested shares (in Shares) | (252,091) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | $ (6,559) | $ (3) | (6,556) | ||
Exercise of stock options (in Shares) | 291,689 | 291,689 | |||
Exercise of stock options | $ 7,727 | $ 3 | 7,724 | ||
Stock Repurchased During Period, Shares | (8,443,138) | ||||
Stock Repurchased During Period, Value | (299,972) | $ (84) | (299,888) | ||
Balance (in Shares) at Dec. 31, 2018 | 99,141,374 | ||||
Balance at Dec. 31, 2018 | $ 2,923,833 | $ 991 | $ 1,220,147 | $ 1,697,822 | $ 4,873 |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation (Notes) | 12 Months Ended |
Dec. 31, 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 in it's geographic footprint in Florida and the New York metropolitan area. 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 provided for FDIC loss sharing and the Bank’s reimbursement for recoveries to the FDIC through its termination on February 13, 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 were subject to a stated loss threshold whereby the FDIC reimbursed 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 consolidated financial statements have been prepared in accordance with GAAP and prevailing practices in the banking industry. The Company has a single reportable segment. 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, and the fair values of investment securities and other financial instruments. Principles of Consolidation The consolidated financial statements include the accounts of BankUnited, Inc. and its wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. VIEs are consolidated if the Company is the primary beneficiary; i.e., has (i) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company has variable interests in affordable housing limited partnerships that are not required to be consolidated because the Company is not the primary beneficiary. Fair Value Measurements Certain of the Company's assets and liabilities are reflected in the consolidated financial statements at fair value on either a recurring or non-recurring basis. Investment securities available for sale, marketable equity securities, servicing rights and derivative instruments are measured at fair value on a recurring basis. Assets measured at fair value or fair value less cost to sell on a non-recurring basis may include collateral dependent impaired loans, OREO and other repossessed assets, loans held for sale, goodwill and impaired long-lived assets. These non-recurring fair value measurements typically involve lower-of-cost-or-market accounting or the measurement of impairment of certain assets. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. GAAP establishes a hierarchy that prioritizes inputs used to determine fair value measurements into three levels based on the observability and transparency of the inputs: • Level 1 inputs are unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. • Level 2 inputs are observable inputs other than level 1 inputs, including quoted prices for similar assets and liabilities, quoted prices for identical assets and liabilities in less active markets and other inputs that can be corroborated by observable market data. • Level 3 inputs are unobservable inputs supported by limited or no market activity or data and inputs requiring significant management judgment or estimation. The fair value hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs in estimating fair value. Unobservable inputs are utilized in determining fair value measurements only to the extent that observable inputs are unavailable. The need to use unobservable inputs generally results from a lack of market liquidity and diminished observability of actual trades or assumptions that would otherwise be available to value a particular asset or liability. Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, both interest bearing and non-interest bearing, including amounts on deposit at the Federal Reserve Bank, and federal funds sold. Cash equivalents have original maturities of three months or less. For purposes of reporting cash flows, cash receipts and payments pertaining to FHLB advances with original maturities of three months or less are reported net. Investment 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, a separate component of stockholders' equity. Securities classified as available for sale may be used as part of the Company's asset/liability management strategy and may be sold in response to liquidity needs, regulatory changes, changes in interest rates, prepayment risk or other market factors. The Company does not maintain a trading portfolio. Purchase premiums and discounts on debt securities are amortized as adjustments to yield over the expected lives of the securities, using the level yield method. Premiums are amortized to the call date if the call is considered to be clearly and closely related to the host contract. Realized gains and losses from sales of securities are recorded on the trade date and are determined using the specific identification method. The Company reviews investment securities for OTTI at least quarterly. An investment security is impaired if its fair value is lower than its amortized cost basis. The Company considers many factors in determining whether a decline in fair value below amortized cost represents OTTI, including, but not limited to: • the Company's intent to hold the security until maturity or for a period of time sufficient for a recovery in value; • whether it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost basis; • the length of time and extent to which fair value has been less than amortized cost; • adverse changes in expected cash flows; • collateral values and performance; • the payment structure of the security including levels of subordination or over-collateralization; • changes in the economic or regulatory environment; • the general market condition of the geographic area or industry of the issuer; • the issuer's financial condition, performance and business prospects; and • changes in credit ratings. The relative importance assigned to each of these factors varies depending on the facts and circumstances pertinent to the individual security being evaluated. The Company recognizes OTTI of a debt security for which there has been a decline in fair value below amortized cost if (i) management intends to sell the security, (ii) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, or (iii) the Company does not expect to recover the entire amortized cost basis of the security. If the Company intends to sell the security, or if it is more likely than not it will be required to sell the security before recovery, an OTTI write-down is recognized in earnings equal to the entire difference between the amortized cost basis and fair value of the security. Otherwise, the amount by which amortized cost exceeds the fair value of a debt security that is considered to be other-than-temporarily impaired is separated into a component representing the credit loss, which is recognized in earnings, and a component related to all other factors, which is recognized in other comprehensive income. The measurement of the credit loss component is equal to the difference between the debt security's amortized cost basis and the present value of its expected future cash flows discounted at the security's effective yield. Marketable equity securities with readily determinable fair values are reported at fair value with unrealized gains and losses included in earnings effective January 1, 2018. 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. Non-marketable Equity Securities The Bank, as a member of the FRB system and the FHLB, is required to maintain investments in the stock of the FRB and FHLB. No market exists for this stock, and the investment can be liquidated only through redemption by the respective institutions, at the discretion of and subject to conditions imposed by those institutions. The stock has no readily determinable fair value and is carried at cost. Historically, stock redemptions have been at par value, which equals the Company's carrying value. The Company monitors its investment in FHLB stock for impairment through review of recent financial results of the FHLB, including capital adequacy and liquidity position, dividend payment history, redemption history and information from credit agencies. The Company has not identified any indicators of impairment of FHLB stock. Loans Held for Sale The guaranteed portion of SBA and USDA loans originated with the intent to sell are carried at the lower of cost or fair value, determined in the aggregate. A valuation allowance is established through a charge to earnings if the aggregate fair value of such loans is lower than their cost. Gains or losses recognized upon sale are determined on the specific identification basis. Loans not originated or otherwise acquired with the intent to sell are transferred into the held for sale classification at the lower of carrying amount or fair value when they are specifically identified for sale and a formal plan exists to sell them. Acquired credit impaired loans accounted for in pools are removed from the pools at their carrying amounts when they are sold. Loans The Company's loan portfolio contains 1-4 single family residential first mortgages, government insured residential mortgages, home equity loans and lines of credit, consumer, multi-family, owner and non-owner occupied commercial real estate, construction and land, and commercial and industrial loans, mortgage warehouse lines of credit and direct financing leases. The Company segregates its loan portfolio between covered and non-covered loans. Covered loans are loans acquired from the FDIC in the FSB Acquisition that are covered under the Single Family Shared-Loss Agreement. Covered loans are further segregated between ACI loans and non-ACI loans. Non-covered Loans Non-covered loans, other than non-covered ACI loans, are carried at UPB, net of premiums, discounts, unearned income, deferred loan origination fees and costs, and the ALLL Interest income on these loans is accrued based on the principal amount outstanding. Non-refundable loan origination fees, net of direct costs of originating or acquiring loans, as well as purchase premiums and discounts, are deferred and recognized as adjustments to yield over the contractual lives of the related loans using the level yield method. Direct Financing Leases Direct financing leases are carried at the aggregate of lease payments receivable and estimated residual value of the leased property, if applicable, less unearned income. Interest income on direct financing leases is recognized over the term of the leases to achieve a constant periodic rate of return on the outstanding investment. Initial direct costs are deferred and amortized over the lease term as a reduction to interest income using the effective interest method. ACI Loans ACI loans, all of which were acquired in the FSB Acquisition and the substantial majority of which are covered under the Single Family Shared-Loss Agreement, are those for which, at acquisition, management determined it probable that the Company would be unable to collect all contractual principal and interest payments due. These loans were recorded at estimated fair value at acquisition, measured as the present value of all cash flows expected to be received, discounted at an appropriately risk-adjusted discount rate. Initial cash flow expectations incorporated significant assumptions regarding prepayment rates, frequency of default and loss severity. The difference between total contractually required payments on ACI loans and the cash flows expected to be received represents non-accretable difference. The excess of all cash flows expected to be received over the Company's recorded investment in the loans represents accretable yield and is recognized as interest income on a level-yield basis over the expected life of the loans. The Company aggregated ACI 1-4 single family residential mortgage loans and home equity loans and lines of credit with similar risk characteristics into homogenous pools at acquisition. A composite interest rate and composite expectations of future cash flows are used in accounting for each pool. These loans were aggregated into pools based on the following characteristics: • delinquency status; • product type, in particular, amortizing as opposed to option ARMs; • loan-to-value ratio; and • borrower FICO score. Loans that do not have similar risk characteristics, primarily commercial and commercial real estate loans, are accounted for on an individual loan basis using interest rates and expectations of cash flows for each loan. The Company is required to develop reasonable expectations about the timing and amount of cash flows to be collected related to ACI loans and to continue to update those estimates over the lives of the loans. Expected cash flows from ACI loans are updated quarterly. If it is probable that the Company will be unable to collect all the cash flows expected from a loan or pool at acquisition plus additional cash flows expected to be collected arising from changes in estimates after acquisition, the loan or pool is considered impaired and a valuation allowance is established by a charge to the provision for loan losses. If there is an increase in expected cash flows from a loan or pool, the Company first reduces any valuation allowance previously established by the amount of the increase in the present value of expected cash flows, and then recalculates the amount of accretable yield for that loan or pool. The adjustment of accretable yield due to an increase in expected cash flows, as well as changes in expected cash flows due to changes in interest rate indices and changes in prepayment assumptions is accounted for prospectively as a change in yield. Additional cash flows expected to be collected are transferred from non-accretable difference to accretable yield and the amount of periodic accretion is adjusted accordingly over the remaining life of the loan or pool. The Company may resolve an ACI loan either through a sale of the loan, by working with the customer and obtaining partial or full repayment, by short sale of the collateral, or by foreclosure. When a loan accounted for in a pool is resolved, it is removed from the pool at its allocated carrying amount. In the event of a sale of the loan, the Company recognizes a gain or loss on sale based on the difference between the sales proceeds and the carrying amount of the loan. For loans resolved through pre-payment or short sale of the collateral, the Company recognizes the difference between the amount of the payment received and the carrying amount of the loan in the income statement line item "Income from resolution of covered assets, net". For loans resolved through foreclosure, the difference between the fair value of the collateral obtained through foreclosure less estimated cost to sell and the carrying amount of the loan is recognized in the income statement line item "Income from resolution of covered assets, net". Any remaining accretable discount related to loans not accounted for in pools that are resolved by full or partial pre-payment, short sale or foreclosure is recognized in interest income at the time of resolution, to the extent collected. Payments received earlier than expected or in excess of expected cash flows from sales or other resolutions may result in the carrying value of a pool being reduced to zero even though outstanding contractual balances and expected cash flows remain related to loans in the pool. Once the carrying value of a pool is reduced to zero, any future proceeds, which may include cash or real estate acquired in foreclosure, from the remaining loans, representing further realization of accretable yield, are recognized as interest income upon receipt. Covered Non-ACI Loans Loans acquired in the FSB Acquisition without evidence of deterioration in credit quality since origination were initially recorded at estimated fair value on the acquisition date. Non-ACI 1-4 single family residential mortgage loans and home equity loans and lines of credit with similar risk characteristics were aggregated into pools for accounting purposes at acquisition. Non-ACI loans are carried at the principal amount outstanding, adjusted for unamortized acquisition date fair value adjustments and the ALLL. Interest income is accrued based on the UPB and, with the exception of home equity loans and lines of credit, acquisition date fair value adjustments are amortized using the level-yield method over the expected lives of the related loans. For non-ACI 1-4 family residential mortgage loans accounted for in pools, prepayment estimates are used in determining the periodic amortization of acquisition date fair value adjustments. Acquisition date fair value adjustments related to revolving home equity loans and lines of credit are amortized on a straight-line basis. Non-accrual Loans Commercial loans, other than ACI loans, are placed on non-accrual status when (i) management has determined that full repayment of all contractual principal and interest is in doubt, or (ii) the loan is past due 90 days or more as to principal or interest unless the loan is well secured and in the process of collection. Residential and consumer loans, other than ACI loans, are generally placed on non-accrual status when 90 days of interest is due and unpaid. When a loan is placed on non-accrual status, uncollected interest accrued is reversed and charged to interest income. Payments received on nonaccrual commercial loans are applied as a reduction of principal. Interest payments are recognized as income on a cash basis on nonaccrual residential loans. Commercial loans are returned to accrual status only after all past due principal and interest has been collected and full repayment of remaining contractual principal and interest is reasonably assured. Residential and consumer loans are returned to accrual status when there is no longer 90 days of interest due and unpaid. Past due status of loans is determined based on the contractual next payment due date. Loans less than 30 days past due are reported as current. Contractually delinquent ACI loans are not classified as non-accrual as long as discount continues to be accreted on the loans or pools. Impaired Loans Loans, other than ACI loans and government insured residential 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 with committed balances greater than or equal to $1.0 million that have internal risk ratings of substandard or doubtful and are on non-accrual status, 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. An ACI pool or loan is considered to be impaired when it is probable that the Company will be unable to collect all the cash flows expected at acquisition, plus additional cash flows expected to be collected arising from changes in estimates after acquisition. 1-4 single family residential and home equity ACI loans accounted for in pools are evaluated collectively for impairment on a pool by pool basis based on expected pool cash flows. Commercial ACI loans are individually evaluated for impairment based on expected cash flows from the individual loans. Discount continues to be accreted on ACI loans or pools as long as there are expected future cash flows in excess of the current carrying amount of the loans or pools. Troubled Debt Restructurings In certain situations, due to economic or legal reasons related to a borrower's financial difficulties, the Company may grant a concession to the borrower for other than an insignificant period of time that it would not otherwise consider. At that time, except for ACI loans accounted for in pools, the related loan is classified as a TDR and considered impaired. The concessions granted may include rate reductions, principal forgiveness, payment forbearance, extensions of maturity at rates of interest below that commensurate with the risk profile of the loans, modification of payment terms and other actions intended to minimize economic loss. A TDR is generally placed on non-accrual status at the time of the modification unless the borrower was performing prior to the restructuring. Modified ACI loans accounted for in pools are not accounted for as TDRs, are not separated from the pools and are not classified as impaired loans. Allowance for Loan and Lease Losses The ALLL represents the amount considered adequate by management to absorb probable incurred losses inherent in the loan portfolio at the balance sheet date. The ALLL consists of both specific and general components. The ALLL is established as losses are estimated to have occurred through a provision charged to earnings. Individual loans are charged off against the ALLL when management determines them to be uncollectible. An assessment of collateral value is made at no later than 120 days delinquency for non-covered open- and closed-end loans secured by residential real estate; any outstanding loan balance in excess of fair value less cost to sell is charged off at no later than 180 days delinquency. Additionally, any outstanding balance in excess of fair value of collateral less cost to sell is charged off (i) within 60 days of receipt of notification of filing from the bankruptcy court, (ii) within 60 days of determination of loss if all borrowers are deceased or (iii) within 90 days of discovery of fraudulent activity. Covered non-ACI loans secured by residential real estate are generally charged off at final resolution which is consistent with the terms of the Single Family Shared-Loss Agreement. Consumer loans are typically charged off at 120 days delinquency. Commercial loans are charged off when management deems them to be uncollectible. Subsequent recoveries are credited to the ALLL. Commercial loans The allowance is comprised of specific reserves for loans that are individually evaluated and determined to be impaired as well as general reserves for loans that have not been identified as impaired. Management believes that loans rated special mention, substandard or doubtful that are not individually evaluated for impairment exhibit characteristics indicative of a heightened level of credit risk. A quantitative loss factor is applied to loans rated special mention based on average annual probability of default and implied severity, derived from internal and external data. Loss factors for substandard and doubtful loans that are not individually evaluated are determined by using default frequency and severity information applied at the loan level. Estimated default frequencies and severities are based on available industry and internal data. In addition, a floor is applied to these calculated loss factors, based on the loss factor applied to the special mention portfolio. To the extent, in management's judgment, commercial portfolio segments have sufficient observable loss history, the quantitative portion of the ALLL is based on the Bank's historical net charge-off rates. These commercial segments include commercial and industrial loans and the Bridge portfolios. For commercial portfolio segments that have not yet exhibited an observable loss trend, the quantitative loss factors are based on peer group average annual historical net charge-off rates by loan class and the Company’s internal credit risk rating system. These commercial segments include multifamily, non-owner occupied commercial real estate and construction and land loans. Quantitative loss factors for SBF loans are based on historical charge-off rates published by the SBA. For Pinnacle, quantitative loss factors are based primarily on historical municipal default data. For most commercial portfolio segments, we use a 20 quarter look-back period in the calculation of historical net charge-off rates. Where applicable, the peer group used to calculate average annual historical net charge-off rates used in estimating general reserves is made up of 26 banks included in the OCC Midsize Bank Group plus five additional banks not included in the OCC Midsize Bank Group that management believes to be comparable based on size, geography and nature of lending operations. Peer bank data is obtained from the Statistics on Depository Institutions Report published by the FDIC for the most recent quarter available. These banks, as a group, are considered by management to be comparable to BankUnited in size, nature of lending operations and loan portfolio composition. We evaluate the composition of the peer group annually, or more frequently if, in our judgment, a more frequent evaluation is necessary. Our internal risk rating system comprises 13 credit grades; grades 1 through 8 are “pass” grades. The risk ratings are driven largely by debt service coverage. Peer group historical loss rates are adjusted upward for loans assigned a lower “pass” rating. As noted above, management generally use a 20 quarter look-back period to calculate quantitative loss rates. Management believes this look-back period to be consistent with the range of industry practice and appropriate to capture a sufficient range of observations reflecting the performance of our loans, which were originated in the current economic cycle. With the exception of the Pinnacle municipal finance portfolio, a four quarter loss emergence period is used in the calculation of general reserves. A twelve quarter loss emergence period is used in the calculation of general reserves for the Pinnacle portfolio. The primary assumptions underlying estimates of expected cash flows for ACI commercial loans are default probability and severity of loss given default. Assessments of default probability and severity are based on net realizable value analyses prepared at the individual loan level. Residential and other consumer loans Non-covered Loans The non-covered loan portfolio has not yet developed an observable loss trend. Therefore, the ALLL for non-covered residential loans is based primarily on relevant proxy historical loss rates. The ALLL for non-covered 1-4 single family residential loans, excluding government insured residential loans, is estimated using average annual loss rates on prime residential mortgage securitizations issued between 2003 and 2008 as a proxy. Based on the comparability of FICO scores and LTV ratios between loans included in those securitizations and loans in the Bank’s portfolio and the geographic diversity in the new purchased residential portfolio, we determined that prime residential mortgage securitizations provide an appropriate proxy for incurred losses in this portfolio class. A peer group 18-quarter average net charge-off rate is used to estimate the ALLL for the non-covered home equity and other consumer loan classes. The non-covered home equity and other consumer loan portfolios are not significant components of the overall loan portfolio. No quantitative ALLL is provided for U.S. Government insured residential loans. Covered non-ACI Loans The reserving methodology for the non-ACI 1-4 single family residential mortgages is consistent with the methodology to calculated the ALLL for non-covered residential portfolio segment discussed above. Qualitative Factors Qualitative adjustments are made to the ALLL when, based on management’s judgment, there are internal or external factors impacting probable incurred losses not taken into account by the quantitative calculations. Potential qualitative adjustments are categorized as follows: • Portfolio performance trends, including trends in and the levels of delinquencies, non-performing loans and classified loans; • Changes in the nature of the portfolio and terms of the loans, specifically including the volume and nature of policy and procedural exceptions; • Portfolio growth trends; • Changes in lending policies and procedures, including credit and underwriting guidelines and portfolio management practices; • Economic factors, including unemployment rates and GDP growth rates and other factors considered relevant by management; • Changes in the value of underlying collateral; • Quality of risk ratings, as evaluated by our independent credit review function; • Credit concentrations; • Changes in and experience levels of credit administration management and staff; and • Other factors identified by management that may impact the level of losses inherent in the portfolio, including but not limited to competition and legal and regulatory considerations. Covered ACI Loans For ACI loans, a valuation allowance is established when periodic evaluations of expected cash flows reflect a deterioration resulting from credit related factors from the level of cash flows that were estimated to be collected at acquisition plus any additional expected cash flows arising from revisions in those estimates. A quarterly analysis of expected cash flows is performed for ACI loans. Expected cash flows are estimated on a pool basis for ACI 1-4 single family residential loans. The analysis of expected cash flows incorporates updated expected prepayment rate, default rate, delinquency level and loss severity given default assumptions. Reserve for Unfunded Commitments The reserve for unfunded commitments represents the estimated probable losses related to unfunded lending commitments. The reserve is calculated in a manner similar to the general reserve for non-covered loans, while also consid |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except share and per share data): c 2018 2017 2016 Basic earnings per common share: Numerator: Net income $ 324,866 $ 614,273 $ 225,741 Distributed and undistributed earnings allocated to participating securities (13,047 ) (23,250 ) (8,760 ) Income allocated to common stockholders for basic earnings per common share $ 311,819 $ 591,023 $ 216,981 Denominator: Weighted average common shares outstanding 104,916,865 106,574,448 104,097,182 Less average unvested stock awards (1,171,994 ) (1,104,035 ) (1,157,378 ) Weighted average shares for basic earnings per common share 103,744,871 105,470,413 102,939,804 Basic earnings per common share $ 3.01 $ 5.60 $ 2.11 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 311,819 $ 591,023 $ 216,981 Adjustment for earnings reallocated from participating securities (195 ) (263 ) 62 Income used in calculating diluted earnings per common share $ 311,624 $ 590,760 $ 217,043 Denominator: Weighted average shares for basic earnings per common share 103,744,871 105,470,413 102,939,804 Dilutive effect of stock options 332,505 387,074 716,366 Weighted average shares for diluted earnings per common share 104,077,376 105,857,487 103,656,170 Diluted earnings per common share $ 2.99 $ 5.58 $ 2.09 Included in participating securities above are unvested shares and 3,023,314 dividend equivalent rights outstanding at December 31, 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 December 31, 2018 , 2017 and 2016 but excluded from the calculation of diluted earnings per common share for the periods indicated because their inclusion would have been anti-dilutive: 2018 2017 2016 Unvested shares and share units 1,463,607 1,431,761 1,303,208 Stock options and warrants 1,960 1,850,279 1,850,279 |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 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 portfolio consisted of the following at December 31, 2018 and 2017 (in thousands): 2018 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 39,885 $ 2 $ (14 ) $ 39,873 U.S. Government agency and sponsored enterprise residential MBS 1,885,302 16,580 (4,408 ) 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS 374,569 1,293 (1,075 ) 374,787 Private label residential MBS and CMOs 1,539,058 10,138 (14,998 ) 1,534,198 Private label commercial MBS 1,486,835 5,021 (6,140 ) 1,485,716 Single family rental real estate-backed securities 406,310 266 (4,118 ) 402,458 Collateralized loan obligations 1,239,355 1,060 (5,217 ) 1,235,198 Non-mortgage asset-backed securities 204,372 1,031 (1,336 ) 204,067 State and municipal obligations 398,810 3,684 (4,065 ) 398,429 SBA securities 514,765 6,502 (1,954 ) 519,313 Other debt securities 1,393 3,453 — 4,846 8,090,654 $ 49,030 $ (43,325 ) 8,096,359 Marketable equity securities 60,519 60,519 Investment securities held to maturity 10,000 10,000 $ 8,161,173 $ 8,166,878 2017 Amortized Cost Gross Unrealized Carrying Value (1) 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 Investment securities held to maturity 10,000 10,000 $ 6,597,786 $ 6,690,832 (1) At fair value except for securities held to maturity. Investment securities held to maturity at December 31, 2018 and 2017 consisted of one State of Israel bond with a carrying value of $10 million maturing in 2024. At December 31, 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 $ 939,802 $ 942,507 Due after one year through five years 4,097,200 4,097,966 Due after five years through ten years 2,662,298 2,662,649 Due after ten years 391,354 393,237 $ 8,090,654 $ 8,096,359 Based on the Company’s assumptions, the estimated weighted average life of the investment portfolio as of December 31, 2018 was 4.5 years. The effective duration of the investment portfolio as of December 31, 2018 was 1.4 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 $2.1 billion and $2.6 billion at December 31, 2018 and 2017 , respectively. The following table provides information about gains and losses on investment securities for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 2017 2016 Proceeds from sale of investment securities available for sale $ 1,030,810 $ 1,287,591 $ 1,127,983 Gross realized gains: Investment securities available for sale $ 8,616 $ 37,530 $ 14,924 Gross realized losses: Investment securities available for sale (2,514 ) (4,064 ) — Net realized gain 6,102 33,466 14,924 Net unrealized losses on marketable equity securities recognized in earnings (2,943 ) — — OTTI on investment securities available for sale — — (463 ) Gain on investment securities, net $ 3,159 $ 33,466 $ 14,461 During the year ended December 31, 2016 , OTTI was recognized on two positions in one private label commercial MBS. These positions were sold at a loss before the end of 2016. 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 December 31, 2018 and 2017 (in thousands): 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 $ 14,921 $ (14 ) $ — $ — $ 14,921 $ (14 ) U.S. Government agency and sponsored enterprise residential MBS 450,666 (1,828 ) 87,311 (2,580 ) 537,977 (4,408 ) U.S. Government agency and sponsored enterprise commercial MBS 146,096 (352 ) 25,815 (723 ) 171,911 (1,075 ) Private label residential MBS and CMOs 759,921 (7,073 ) 278,108 (7,925 ) 1,038,029 (14,998 ) Private label commercial MBS 742,092 (5,371 ) 39,531 (769 ) 781,623 (6,140 ) Single family rental real estate-backed securities 234,305 (1,973 ) 85,282 (2,145 ) 319,587 (4,118 ) Collateralized loan obligations 749,047 (5,217 ) — — 749,047 (5,217 ) Non-mortgage asset-backed securities 136,100 (1,336 ) — — 136,100 (1,336 ) State and municipal obligations 208,971 (3,522 ) 46,247 (543 ) 255,218 (4,065 ) SBA securities 215,975 (1,391 ) 31,481 (563 ) 247,456 (1,954 ) $ 3,658,094 $ (28,077 ) $ 593,775 $ (15,248 ) $ 4,251,869 $ (43,325 ) 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 years ended December 31, 2018 or 2017 . As discussed above, OTTI was recognized on two positions in one private label commercial MBS during the year ended December 31, 2016. The Company does not intend to sell securities that are in significant unrealized loss positions at December 31, 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 December 31, 2018 , 218 securities were in unrealized loss positions. The amount of impairment related to 53 of these securities was considered insignificant both individually and in the aggregate, totaling approximately $596 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. Government agency and sponsored enterprise residential and commercial MBS At December 31, 2018 , thirty-six U.S. Government agency and sponsored enterprise residential MBS and seven 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 December 31, 2018 , thirty-eight 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 December 31, 2018 . Given the expectation of timely recovery of outstanding principal the impairments were considered to be temporary. Private label commercial MBS At December 31, 2018 , twenty-seven 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 December 31, 2018 , thirteen 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 December 31, 2018 , eighteen collateralized loan obligations were in unrealized loss positions, primarily due to widening credit spreads. The amount of impairment of 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 impairments were considered to be temporary. Non-mortgage asset-backed securities At December 31, 2018 , six 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 less than 3% 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. State and municipal obligations At December 31, 2018 , fourteen 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 December 31, 2018 , six SBA securities were in unrealized loss positions. The amount of impairment of each of these securities was 3% or less 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 | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Loans and Allowance for Loan and Lease Losses | Loans and Allowance for Loan and Lease Losses At December 31, 2018 and 2017 , loans consisted of the following (dollars in thousands): 2018 Covered Loans Percent of Total Non-Covered Loans ACI Non-ACI Total Residential and other consumer: 1-4 single family residential $ 4,404,047 $ 190,223 $ 12,558 $ 4,606,828 21.0 % Government insured residential 265,701 — — 265,701 1.2 % Home equity loans and lines of credit 1,393 — — 1,393 — % Other consumer loans 15,976 — — 15,976 0.1 % 4,687,117 190,223 12,558 4,889,898 22.3 % Commercial: Multi-family 2,583,331 — — 2,583,331 11.8 % Non-owner occupied commercial real estate 4,700,188 — — 4,700,188 21.4 % Construction and land 227,134 — — 227,134 1.0 % Owner occupied commercial real estate 2,122,381 — — 2,122,381 9.7 % Commercial and industrial 4,801,226 — — 4,801,226 21.9 % Commercial lending subsidiaries 2,608,834 — — 2,608,834 11.9 % 17,043,094 — — 17,043,094 77.7 % Total loans 21,730,211 190,223 12,558 21,932,992 100.0 % Premiums, discounts and deferred fees and costs, net 45,421 — (1,405 ) 44,016 Loans including premiums, discounts and deferred fees and costs 21,775,632 190,223 11,153 21,977,008 Allowance for loan and lease losses (109,901 ) — (30 ) (109,931 ) Loans, net $ 21,665,731 $ 190,223 $ 11,123 $ 21,867,077 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 $18 million and $34 million at December 31, 2018 and 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 December 31, 2018 and 2017 , the commercial lending subsidiaries portfolio included a net investment in direct financing leases of $739 million and $738 million , respectively. The following table presents the components of the investment in direct financing leases as of December 31, 2018 and 2017 (in thousands): 2018 2017 Total minimum lease payments to be received $ 808,921 $ 792,064 Estimated unguaranteed residual value of leased assets 7,355 17,872 Gross investment in direct financing leases 816,276 809,936 Unearned income (81,864 ) (76,900 ) Initial direct costs 4,833 5,184 $ 739,245 $ 738,220 As of December 31, 2018 , future minimum lease payments to be received under direct financing leases were as follows (in thousands): Years Ending December 31: 2019 $ 197,004 2020 169,437 2021 109,057 2022 69,242 2023 56,312 Thereafter 207,869 $ 808,921 During both of the years ended December 31, 2018 and 2017 , the Company purchased 1-4 single family residential loans totaling $1.3 billion . Purchases for the year ended December 31, 2018 included $371 million of government insured residential loans. At December 31, 2018 , the Company had pledged real estate loans with UPB of approximately $9.8 billion and recorded investment of approximately $9.6 billion as security for FHLB advances. Covered loans Covered loans with UPB totaling $401 million and a carrying value of $201 million as of December 31, 2018 were retained in portfolio. During the years ended December 31, 2018 , 2017 and 2016 , 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): 2018 2017 2016 UPB of loans sold $ 539,853 $ 203,970 $ 241,348 Cash proceeds, net of transaction costs $ 488,972 $ 169,828 $ 171,367 Recorded investment in loans sold 483,240 152,422 185,837 Gain (loss) on sale of covered loans, net $ 5,732 $ 17,406 $ (14,470 ) Gain (loss) on FDIC indemnification, net $ 3,388 $ (1,523 ) $ 11,615 At December 31, 2018 and 2017 , the UPB of ACI loans was $408 million 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 years ended December 31, 2018 , 2017 and 2016 were as follows (in thousands): Balance at December 31, 2015 $ 902,565 Reclassifications from non-accretable difference 76,751 Accretion (303,931 ) 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 128,499 Accretion (369,915 ) Other changes, net (1) 78,204 Balance at December 31, 2018 $ 291,847 (1) Represents changes in cash flows expected to be collected due to the impact of changes in prepayment assumptions. Allowance for loan and lease losses Activity in the ALLL for the years ended December 31, 2018 , 2017 and 2016 is summarized in the tables below (in thousands): 2018 Residential and Other Consumer Commercial Total Beginning balance $ 10,720 $ 134,075 $ 144,795 Provision for loan losses: Covered loans 752 — 752 Non-covered loans 280 24,893 25,173 Total provision 1,032 24,893 25,925 Charge-offs: Covered loans (1,200 ) — (1,200 ) Non-covered loans (265 ) (65,619 ) (65,884 ) Total charge-offs (1,465 ) (65,619 ) (67,084 ) Recoveries: Covered loans 220 — 220 Non-covered loans 281 5,794 6,075 Total recoveries 501 5,794 6,295 Ending balance $ 10,788 $ 99,143 $ 109,931 2017 Residential and Other Consumer Commercial Total Beginning balance $ 11,503 $ 141,450 $ 152,953 Provision for (recovery of) loan losses: Covered loans 1,418 (60 ) 1,358 Non-covered loans 1,034 66,355 67,389 Total provision 2,452 66,295 68,747 Charge-offs: Covered loans (3,327 ) — (3,327 ) Non-covered loans (1 ) (77,865 ) (77,866 ) Total charge-offs (3,328 ) (77,865 ) (81,193 ) Recoveries: Covered loans 67 60 127 Non-covered loans 26 4,135 4,161 Total recoveries 93 4,195 4,288 Ending balance $ 10,720 $ 134,075 $ 144,795 2016 Residential and Other Consumer Commercial Total Beginning balance $ 16,211 $ 109,617 $ 125,828 Provision for (recovery of) loan losses: Covered loans (1,632 ) (49 ) (1,681 ) Non-covered loans (1,814 ) 54,406 52,592 Total provision (3,446 ) 54,357 50,911 Charge-offs: Covered loans (1,216 ) — (1,216 ) Non-covered loans (152 ) (25,742 ) (25,894 ) Total charge-offs (1,368 ) (25,742 ) (27,110 ) Recoveries: Covered loans 80 49 129 Non-covered loans 26 3,169 3,195 Total recoveries 106 3,218 3,324 Ending balance $ 11,503 $ 141,450 $ 152,953 The following table presents information about the balance of the ALLL and related loans as of December 31, 2018 and 2017 (in thousands): 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Allowance for loan and lease losses: Ending balance $ 10,788 $ 99,143 $ 109,931 $ 10,720 $ 134,075 $ 144,795 Covered loans: Ending balance $ 30 $ — $ 30 $ 258 $ — $ 258 Ending balance: non-ACI loans individually evaluated for impairment $ — $ — $ — $ 118 $ — $ 118 Ending balance: non-ACI loans collectively evaluated for impairment $ 30 $ — $ 30 $ 140 $ — $ 140 Non-covered loans: Ending balance $ 10,758 $ 99,143 $ 109,901 $ 10,462 $ 134,075 $ 144,537 Ending balance: loans individually evaluated for impairment $ 134 $ 12,143 $ 12,277 $ 63 $ 18,776 $ 18,839 Ending balance: loans collectively evaluated for impairment $ 10,624 $ 87,000 $ 97,624 $ 10,399 $ 115,299 $ 125,698 Loans: Covered loans: Ending balance $ 201,376 $ — $ 201,376 $ 503,118 $ — $ 503,118 Ending balance: non-ACI loans individually evaluated for impairment $ — $ — $ — $ 2,221 $ — $ 2,221 Ending balance: non-ACI loans collectively evaluated for impairment $ 11,153 $ — $ 11,153 $ 21,829 $ — $ 21,829 Ending balance: ACI loans $ 190,223 $ — $ 190,223 $ 479,068 $ — $ 479,068 Non-covered loans: Ending balance $ 4,747,604 $ 17,028,028 $ 21,775,632 $ 4,196,080 $ 16,717,306 $ 20,913,386 Ending balance: loans, other than ACI loans, individually evaluated for impairment $ 7,690 $ 108,841 $ 116,531 $ 1,234 $ 173,706 $ 174,940 Ending balance: loans, other than ACI loans, collectively evaluated for impairment $ 4,739,914 $ 16,901,262 $ 21,641,176 $ 4,194,846 $ 16,509,824 $ 20,704,670 Ending balance: ACI loans $ — $ 17,925 $ 17,925 $ — $ 33,776 $ 33,776 Credit quality information The table below presents information about loans or ACI pools identified as impaired as of December 31, 2018 and 2017 (in thousands): 2018 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) $ 5,724 $ 5,605 $ — $ 120 $ 122 $ — Multi-family 25,560 25,592 — — — — Non-owner occupied commercial real estate 12,293 12,209 — 10,922 10,838 — Construction and land 9,923 9,925 — 1,175 1,175 — Owner occupied commercial real estate 9,007 9,024 — 22,002 22,025 — Commercial and industrial Taxi medallion loans 775 775 — 13,560 13,559 — Other commercial and industrial 12,739 12,744 — 345 374 — Commercial lending subsidiaries 3,152 3,149 — — — — With a specific allowance recorded: 1-4 single family residential (1) 1,966 1,941 134 1,114 1,090 63 Multi-family — — — 23,173 23,175 1,732 Owner occupied commercial real estate 3,316 3,322 844 3,075 3,079 2,960 Non-owner occupied commercial real estate 1,666 1,667 731 — — — Commercial and industrial Taxi medallion loans — — — 92,507 92,508 12,214 Other commercial and industrial 10,939 10,946 3,831 3,626 3,624 1,540 Commercial lending subsidiaries 19,471 19,385 6,737 3,321 3,296 330 Total: Residential and other consumer $ 7,690 $ 7,546 $ 134 $ 1,234 $ 1,212 $ 63 Commercial 108,841 108,738 12,143 173,706 173,653 18,776 $ 116,531 $ 116,284 $ 12,277 $ 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 — — — 1,160 1,314 118 $ — $ — $ — $ 2,221 $ 2,517 $ 118 (1) Includes government insured residential loans at December 31, 2018 and 2017 . Interest income recognized on impaired loans and pools was insignificant for the year ended December 31, 2018 and approximately $9.6 million for the year ended December 31, 2017 . The following table presents the average recorded investment in impaired loans for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 2017 2016 Non-Covered Loans Covered Non-ACI Loans Non-Covered Loans Covered Non-ACI Non-Covered Loans Covered Non-ACI Residential and other consumer: 1-4 single family residential $ 4,910 $ 1,743 $ 868 $ 2,345 $ 301 $ 3,067 Home equity loans and lines of credit — — — 8,403 — 9,225 4,910 $ 1,743 868 $ 10,748 301 $ 12,292 Commercial: Multi-family 25,679 4,259 — Non-owner occupied commercial real estate 14,106 5,537 710 Construction and land 6,551 2,789 797 Owner occupied commercial real estate 16,207 19,882 14,645 Commercial and industrial Taxi medallion loans 79,786 108,977 45,012 Other commercial and industrial 17,602 38,275 40,443 Commercial lending subsidiaries 9,757 22,865 15,052 169,688 202,584 116,659 $ 174,598 $ 203,452 $ 116,960 In addition to the above, a pool of ACI home equity loans and lines of credit was impaired during 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 year ended December 31, 2017 was $3.9 million . The following table presents the recorded investment in loans on non-accrual status as of December 31, 2018 and 2017 (in thousands): 2018 2017 Non-Covered Loans Covered Non-Covered Loans Covered Non-ACI Loans Residential and other consumer: 1-4 single family residential $ 6,316 $ — $ 9,705 $ 1,341 Other consumer loans 288 — 821 — 6,604 $ — 10,526 $ 1,341 Commercial: Multi-family 25,560 — Non-owner occupied commercial real estate 16,050 12,716 Construction and land 9,923 1,175 Owner occupied commercial real estate 19,789 29,020 Commercial and industrial Taxi medallion loans 775 106,067 Other commercial and industrial 27,809 7,049 Commercial lending subsidiaries 22,733 3,512 122,639 159,539 $ 129,243 $ 170,065 Non-covered loans contractually delinquent by 90 days or more and still accruing totaled $0.7 million and $1.9 million at December 31, 2018 and 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 $5.0 million and $4.1 million for the years ended December 31, 2018 and 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 as of December 31, 2018 and 2017 . 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: 2018 FICO LTV 720 or less 721 - 740 741 - 760 761 or Total 60% or less $ 105,812 $ 123,877 $ 197,492 $ 813,944 $ 1,241,125 60% - 70% 120,982 109,207 170,531 597,659 998,379 70% - 80% 156,519 203,121 374,311 1,264,491 1,998,442 More than 80% 17,352 35,036 36,723 136,487 225,598 $ 400,665 $ 471,241 $ 779,057 $ 2,812,581 $ 4,463,544 2017 FICO LTV 720 or less 721 - 740 741 - 760 761 or 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: 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 $ 2,547,835 $ 4,611,029 $ 216,917 $ 2,077,611 $ — $ 4,706,666 $ 1,462,655 $ 1,105,821 $ 16,728,534 Special mention 2,932 16,516 — 13,368 — 38,097 — 10,157 81,070 Substandard 34,654 61,335 9,923 28,901 775 42,916 — 31,522 210,026 Doubtful — — — — — 1,746 — 6,643 8,389 $ 2,585,421 $ 4,688,880 $ 226,840 $ 2,119,880 $ 775 $ 4,789,425 $ 1,462,655 $ 1,154,143 $ 17,028,019 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 as of December 31, 2018 and 2017 . Amounts include premiums, discounts and deferred fees and costs (in thousands): 2018 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 $ 4,440,061 $ 14,736 $ 1,838 $ 6,909 $ 4,463,544 $ 4,121,624 $ 15,613 $ 4,941 $ 3,701 $ 4,145,879 Government insured residential 31,348 8,342 8,871 218,168 266,729 23,455 1,611 1,153 1,855 28,074 Home equity loans and lines of credit 1,393 — — — 1,393 1,633 21 — — 1,654 Other consumer loans 15,947 — — — 15,947 19,958 15 — 500 20,473 Multi-family 2,585,421 — — — 2,585,421 3,218,953 — — — 3,218,953 Non-owner occupied commercial real estate 4,682,443 3,621 1,374 1,442 4,688,880 4,464,967 7,549 — 2,285 4,474,801 Construction and land 224,828 916 — 1,096 226,840 309,309 — — 1,175 310,484 Owner occupied commercial real estate 2,106,104 2,826 1,087 9,863 2,119,880 2,004,397 1,292 499 6,554 2,012,742 Commercial and industrial Taxi medallion loans 155 — — 620 775 88,394 6,048 3,333 8,292 106,067 Other commercial and industrial 4,772,823 6,732 926 8,944 4,789,425 4,025,784 4,291 291 1,394 4,031,760 Commercial lending subsidiaries Pinnacle 1,462,655 — — — 1,462,655 1,524,622 — — — 1,524,622 Bridge 1,152,312 603 — 1,228 1,154,143 1,037,025 852 — — 1,037,877 $ 21,475,490 $ 37,776 $ 14,096 $ 248,270 $ 21,775,632 $ 20,840,121 $ 37,292 $ 10,217 $ 25,756 $ 20,913,386 Covered loans: Non-ACI loans: 1-4 single family residential $ 11,153 $ — $ — $ — $ 11,153 $ 21,106 $ 1,603 $ — $ 1,341 $ 24,050 ACI loans: 1-4 single family residential $ 189,557 $ 334 $ 288 $ 44 $ 190,223 $ 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 $44 thousand and $18 million at December 31, 2018 and 2017 , respectively. Government insured residential loans on accrual status that are delinquent by more than 90 days totaled $218 million at December 31, 2018 . Loan Concentrations: At December 31, 2018 and 2017 , 1-4 single family residential loans outstanding, excluding government insured residential loans, were collateralized by property located in the following states (dollars in thousands): 2018 Percent of Total Non-Covered Loans Covered Loans Total Non-Covered Loans Total Loans California $ 1,172,470 $ 4,751 $ 1,177,221 26.3 % 25.2 % New York 971,121 6,025 977,146 21.8 % 20.9 % Florida 520,427 124,593 645,020 11.7 % 13.8 % DC 182,399 812 183,211 4.1 % 3.9 % Virginia 179,132 5,624 184,756 4.0 % 4.0 % Others 1,437,995 59,571 1,497,566 32.1 % 32.2 % $ 4,463,544 $ 201,376 $ 4,664,920 100.0 % 100.0 % 2017 Percent of Total Non-Covered Loans Covered Loans Total Non-Covered Loans Total Loans California $ 1,094,047 $ 23,780 $ 1,117,827 26.4 % 24.0 % New York 871,331 16,847 888,178 21.0 % 19.1 % Florida 526,540 281,396 807,936 12.7 % 17.4 % Virginia 181,912 22,290 204,202 4.4 % 4.4 % DC 169,502 1,933 171,435 4.1 % 3.7 % Others 1,302,547 156,872 1,459,419 31.4 % 31.4 % $ 4,145,879 $ 503,118 $ 4,648,997 100.0 % 100.0 % No other state represented borrowers with more than 4.0% of total 1-4 single family residential loans outstanding, excluding government insured residential loans, at December 31, 2018 or 2017 . At December 31, 2018 , 44.8% and 32.5% of loans in the commercial portfolio were to borrowers in Florida and the New York tri-state area, respectively. At December 31, 2017 , 43.4% and 36.4% of loans in the non-covered commercial portfolio were to borrowers in Florida and the New York tri-state area, respectively. Foreclosure of residential real estate The carrying amount of foreclosed residential real estate properties included in "Other assets" in the accompanying consolidated balance sheets totaled $6 million and $3 million at December 31, 2018 and December 31, 2017 , respectively. The recorded investment in non-government insured residential mortgage loans in the process of foreclosure was insignificant at December 31, 2018 and $11 million at December 31, 2017 . The recorded investment in government insured residential loans in the process of foreclosure totaled $85 million at December 31, 2018 . Troubled debt restructurings The following tables summarize loans that were modified in TDRs during the years ended December 31, 2018 , 2017 and 2016 , as well as loans modified during the years ended December 31, 2018 , 2017 and 2016 that experienced payment defaults during the periods (dollars in thousands): 2018 Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential (1) 36 $ 6,462 18 $ 2,489 Non-owner occupied commercial real estate 3 5,932 1 2,949 Owner occupied commercial real estate 2 1,076 — — Commercial and industrial 6 6,646 2 217 47 $ 20,116 21 $ 5,655 2017 Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential 7 $ 676 5 $ 595 Multi-family 2 23,173 — — Owner occupied commercial real estate 3 4,685 — — Commercial and industrial Taxi medallion loans 110 48,526 8 2,725 Other commercial and industrial 2 1,378 — — 124 $ 78,438 13 $ 3,320 2016 Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential 2 $ 326 — $ — Owner occupied commercial real estate 3 5,117 1 491 Commercial and industrial Taxi medallion loans 74 64,854 15 8,657 Other commercial and industrial 8 23,247 2 1,482 Commercial lending subsidiaries 6 6,735 1 2,500 93 $ 100,279 19 $ 13,130 Covered loans: Non-ACI loans: Home equity loans and lines of credit 17 $ 2,016 1 $ 370 ACI loans: Owner occupied commercial real estate 1 $ 825 — $ — (1) Includes government insured residential loans modified during the year ended December 31, 2018 . Modifications during the years ended December 31, 2018 , 2017 and 2016 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 | 12 Months Ended |
Dec. 31, 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 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 years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 Transaction Net Loss on FDIC Net Impact Provision for losses on covered loans $ (752 ) $ 523 $ (229 ) Income from resolution of covered assets, net 11,551 (9,332 ) 2,219 Gain on sale of covered loans 5,732 3,388 9,120 Loss on covered OREO (1,620 ) 1,222 (398 ) $ 14,911 $ (4,199 ) $ 10,712 2017 Transaction Net Loss on FDIC Net Impact Provision for losses on covered loans $ (1,358 ) $ 1,039 $ (319 ) Income from resolution of covered assets, net 27,450 (21,912 ) 5,538 Gain on sale of covered loans 17,406 (1,514 ) 15,892 Loss on covered OREO (203 ) 167 (36 ) $ 43,295 $ (22,220 ) $ 21,075 2016 Transaction Net Loss on FDIC Net Impact Recovery of losses on covered loans $ 1,681 $ (1,472 ) $ 209 Income from resolution of covered assets, net 36,155 (28,946 ) 7,209 Loss on sale of covered loans (14,470 ) 11,615 (2,855 ) Loss on covered OREO (1,301 ) 1,044 (257 ) $ 22,065 $ (17,759 ) $ 4,306 Changes in the FDIC indemnification asset for the years ended December 31, 2018 , 2017 and 2016 , were as follows (in thousands): Balance at December 31, 2015 $ 739,843 Amortization (160,091 ) Reduction for claims filed (46,083 ) Net loss on FDIC indemnification (17,759 ) 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 (261,763 ) Reduction for claims (29,673 ) Net loss on FDIC indemnification (4,199 ) Balance at December 31, 2018 $ — The FDIC indemnification asset was amortized to zero as of December 31, 2018 as expectations of losses eligible for indemnification with respect to the remaining covered loans prior to final termination of the Single Family Shared-Loss Agreement were insignificant. |
Equipment Under Operating Lease
Equipment Under Operating Lease | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
Lessor, Operating Leases [Text Block] | Equipment Under Operating Lease Equipment under operating lease consists primarily of railcars and other transportation equipment. The components of equipment under operating lease as of December 31, 2018 and 2017 , are summarized as follows (in thousands): 2018 2017 Equipment under operating lease $ 802,302 $ 674,434 Less: accumulated depreciation (99,948 ) (74,932 ) Equipment under operating lease, net $ 702,354 $ 599,502 The Company recognized impairment of $4.1 million during the year ended December 31, 2016 , related to a group of tank cars impacted by new safety regulations. This impairment charge is included in " Depreciation of equipment under operating lease " in the accompanying consolidated statements of income. No impairment was recognized during the years ended December 31, 2018 and 2017 . At December 31, 2018 , scheduled minimum rental payments under operating leases were as follows (in thousands): Years Ending December 31: 2019 $ 65,201 2020 59,512 2021 49,987 2022 43,482 2023 35,342 Thereafter through 2033 100,170 $ 353,694 |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances and Other Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
FHLB Advances, Notes and Other Borrowings [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Borrowings The following table presents information about outstanding FHLB advances as of December 31, 2018 (dollars in thousands): Range of Interest Rates Amount Minimum Maximum Weighted Average Rate Maturing in: 2019—One month or less $ 2,325,000 2.24 % 2.53 % 2.41 % 2019—Over one month 1,821,000 1.46 % 2.76 % 2.58 % 2020 375,000 1.67 % 2.91 % 2.49 % 2021 275,000 2.73 % 3.02 % 2.89 % Carrying value $ 4,796,000 The table above reflects contractual maturities of outstanding advances and does not incorporate the impact that interest rate swaps designated as cash flow hedges have on the duration of borrowings. The terms of the Company's security agreement with the FHLB require a specific assignment of collateral consisting of qualifying first mortgage loans, commercial real estate loans, home equity lines of credit and mortgage-backed securities with unpaid principal amounts discounted at various stipulated percentages at least equal to 100% of outstanding FHLB advances. As of December 31, 2018 , the Company had pledged investment securities and real estate loans with an aggregate carrying amount of approximately $10.2 billion as collateral for advances from the FHLB. At December 31, 2018 and 2017 outstanding senior notes payable and other borrowings consisted of the following (dollars in thousands): 2018 2017 Principal amount of 4.875% senior notes $ 400,000 $ 400,000 Unamortized discount and debt issuance costs (5,610 ) (6,275 ) 394,390 393,725 Capital lease obligations 8,359 9,105 $ 402,749 $ 402,830 The senior notes mature on November 17, 2025 with interest payable semiannually. The notes have an effective interest rate of 5.12% , after consideration of issuance discount and costs. The notes may be redeemed by the Company, in whole or in part, at any time prior to August 17, 2025 at the greater of a) 100% of the principal balance or b) the sum of the present values of the remaining scheduled payments of principal and interest on the securities discounted to the redemption date at i) the rate on a United States Treasury security with a maturity comparable to the remaining maturity of the senior notes that would be used to price new issues of corporate debt securities with a maturity comparable to the remaining maturity of the senior notes plus ii) 40 basis points. The senior notes may be redeemed at any time after August 17, 2025 at 100% of principal plus accrued and unpaid interest. At December 31, 2018 , BankUnited had available borrowing capacity at the FHLB of approximately $3.7 billion , unused borrowing capacity at the FRB of approximately $410 million and unused Federal funds lines of credit with other financial institutions totaling $85 million . |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10 Income Taxes The components of the provision (benefit) for income taxes for the years ended December 31, 2018 , 2017 and 2016 were as follows (in thousands): 2018 2017 2016 Current: Federal $ 2,172 $ (251,880 ) $ 51,806 State 20,834 (15,733 ) 27,708 23,006 (267,613 ) 79,514 Deferred: Federal 51,303 46,377 35,045 State 16,475 11,424 (4,856 ) 67,778 57,801 30,189 $ 90,784 $ (209,812 ) $ 109,703 A reconciliation of expected income tax expense at the statutory federal income tax rate of 21% during the year ended December 31, 2018 and 35% during the years ended December 31, 2017 and 2016 , respectively, to the Company's effective income tax rate follows (dollars in thousands): 2018 2017 2016 Amount Percent Amount Percent Amount Percent Tax expense calculated at the statutory federal income tax rate $ 87,286 21.00 % $ 141,561 35.00 % $ 117,405 35.00 % Increases (decreases) resulting from: Income not subject to tax (18,923 ) (4.55 )% (29,511 ) (7.30 )% (23,215 ) (6.92 )% State income taxes, net of federal tax benefit 31,182 7.50 % 19,332 4.78 % 15,894 4.74 % Discrete income tax benefit — — % (327,945 ) (81.08 )% — — % Other, net (8,761 ) (2.11 )% (13,249 ) (3.27 )% (381 ) (0.12 )% $ 90,784 21.84 % $ (209,812 ) (51.87 )% $ 109,703 32.70 % The discrete income tax benefit recognized in the year ended December 31, 2017 related to a matter that arose during an ongoing audit of the Company's 2013 federal income tax return. During that audit, the Company asserted that U.S. federal income taxes paid in respect of certain income previously reported by the Company on its 2012, 2013 and 2014 federal income tax returns related to the basis assigned to certain loans acquired in the FSB Acquisition should be refunded to the Company, in light of guidance issued after the relevant returns had been filed. The discrete income tax benefit recognized in 2017 included expected refunds of federal income tax of $295.0 million , as well as $8.7 million in estimated interest on the federal refund and estimated refunds of $24.2 million from certain state and local taxing jurisdictions. The Company is continuing to evaluate whether it has claims in other state jurisdictions and whether it may have any claims for federal or state income taxes relating to tax years prior to 2012. The Company has not reached any conclusion as to when or to what extent it may have any claims relating to such other state and local taxing jurisdictions or in respect of prior tax years. The TCJA was signed into law in 2017, reducing the statutory corporate federal income tax rate from 35% to 21%, effective January 1, 2018. A tax benefit of $3.7 million , representing the impact of the rate change on deferred tax assets and liabilities existing at the date of enactment, was recognized in earnings during the quarter ended December 31, 2017 and is included in the "Other, net" line item in the reconciliation above. The components of deferred tax assets and liabilities at December 31, 2018 and 2017 were as follows (in thousands): 2018 2017 Deferred tax assets: Excess of tax basis over carrying value of acquired loans $ 52,341 $ 66,395 Allowance for loan and lease losses 25,599 33,309 Net operating loss and tax credit carryforwards 17,209 15,892 Other 33,330 31,859 Gross deferred tax assets 128,479 147,455 Deferred tax liabilities: Net unrealized gains on investment securities available for sale 1,757 24,657 Lease financing, due to differences in depreciation 167,856 113,161 Other 9,195 13,468 Gross deferred tax liabilities 178,808 151,286 Net deferred tax liability $ (50,329 ) $ (3,831 ) Based on the evaluation of available evidence, management has concluded that it is more likely than not that the existing deferred tax assets will be realized. The primary factors supporting this conclusion are the amount of taxable income available for carryback and the amount of future taxable income that will result from the scheduled reversal of existing deferred tax liabilities. At December 31, 2018 , remaining carryforwards included federal net operating loss carryforwards in the amount of $7.6 million expiring from 2029 through 2032, Florida net operating loss carryforwards in the amount of $108.8 million , expiring from 2030 through 2037, and state tax credit carryforwards in the amount of $10.9 million , expiring in 2019. 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 $64 million at both December 31, 2018 and 2017 . Unfunded commitments for affordable housing investments, included in other liabilities in the accompanying consolidated balance sheet, were $21 million and $26 million at December 31, 2018 and 2017 , respectively. The maximum exposure to loss as a result of the Company's involvement with these limited partnerships at December 31, 2018 was approximately $78 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 years ended December 31, 2018 , 2017 and 2016 The Company has a liability for unrecognized tax benefits relating to uncertain federal and state tax positions in several jurisdictions. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for the years ended December 31, 2018 , 2017 and 2016 follows (in thousands): 2018 2017 2016 Balance, beginning of period $ 59,220 $ 72,736 $ 43,412 Additions for tax positions related to the current year 2,399 1,882 2,713 Additions for tax positions related to prior periods 77,101 1,661 25,168 Reductions due to change in tax position (26,037 ) (15,316 ) — Reductions due to settlements with taxing authorities — — (200 ) Reductions due to lapse of the statute of limitations (675 ) (2,229 ) — 112,008 58,734 71,093 Interest and penalties 4,073 486 1,643 Balance, end of period $ 116,081 $ 59,220 $ 72,736 As of December 31, 2018 , 2017 and 2016 , the Company had $78.2 million , $43.6 million and $45.0 million of unrecognized federal and state tax benefits, net of federal tax benefits, that if recognized would have impacted the effective tax rate. Unrecognized tax benefits related to state income tax contingencies that may decrease during the 12 months subsequent to December 31, 2018 as a result of settlements with taxing authorities range from zero to $42.8 million . Interest and penalties related to unrecognized tax benefits are included in the provision for income taxes in the consolidated statements of income. At December 31, 2018 and 2017 , accrued interest and penalties included in the consolidated balance sheets, net of federal tax benefits, were $6.5 million and $3.2 million , respectively. The total amounts of interest and penalties, net of federal tax benefits, recognized through income tax expense were $3.2 million , $0.3 million and $1.1 million in 2018 , 2017 and 2016 , respectively. The Company and its subsidiaries file a consolidated federal income tax return as well as combined state income tax returns where combined filings are required. Income tax returns for the tax years ended December 31, 2018 , 2017 , 2016 and 2015 remain subject to examination in the U.S. Federal and various state tax jurisdictions. The tax years ended December 31, 2009, 2010, 2011 and 2012, 2013 and 2014 remain subject to examination by certain states. |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision (benefit) for income taxes for the years ended December 31, 2018 , 2017 and 2016 were as follows (in thousands): 2018 2017 2016 Current: Federal $ 2,172 $ (251,880 ) $ 51,806 State 20,834 (15,733 ) 27,708 23,006 (267,613 ) 79,514 Deferred: Federal 51,303 46,377 35,045 State 16,475 11,424 (4,856 ) 67,778 57,801 30,189 $ 90,784 $ (209,812 ) $ 109,703 |
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% during the year ended December 31, 2018 and 35% during the years ended December 31, 2017 and 2016 , respectively, to the Company's effective income tax rate follows (dollars in thousands): 2018 2017 2016 Amount Percent Amount Percent Amount Percent Tax expense calculated at the statutory federal income tax rate $ 87,286 21.00 % $ 141,561 35.00 % $ 117,405 35.00 % Increases (decreases) resulting from: Income not subject to tax (18,923 ) (4.55 )% (29,511 ) (7.30 )% (23,215 ) (6.92 )% State income taxes, net of federal tax benefit 31,182 7.50 % 19,332 4.78 % 15,894 4.74 % Discrete income tax benefit — — % (327,945 ) (81.08 )% — — % Other, net (8,761 ) (2.11 )% (13,249 ) (3.27 )% (381 ) (0.12 )% $ 90,784 21.84 % $ (209,812 ) (51.87 )% $ 109,703 32.70 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The components of deferred tax assets and liabilities at December 31, 2018 and 2017 were as follows (in thousands): 2018 2017 Deferred tax assets: Excess of tax basis over carrying value of acquired loans $ 52,341 $ 66,395 Allowance for loan and lease losses 25,599 33,309 Net operating loss and tax credit carryforwards 17,209 15,892 Other 33,330 31,859 Gross deferred tax assets 128,479 147,455 Deferred tax liabilities: Net unrealized gains on investment securities available for sale 1,757 24,657 Lease financing, due to differences in depreciation 167,856 113,161 Other 9,195 13,468 Gross deferred tax liabilities 178,808 151,286 Net deferred tax liability $ (50,329 ) $ (3,831 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | The Company has a liability for unrecognized tax benefits relating to uncertain federal and state tax positions in several jurisdictions. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for the years ended December 31, 2018 , 2017 and 2016 follows (in thousands): 2018 2017 2016 Balance, beginning of period $ 59,220 $ 72,736 $ 43,412 Additions for tax positions related to the current year 2,399 1,882 2,713 Additions for tax positions related to prior periods 77,101 1,661 25,168 Reductions due to change in tax position (26,037 ) (15,316 ) — Reductions due to settlements with taxing authorities — — (200 ) Reductions due to lapse of the statute of limitations (675 ) (2,229 ) — 112,008 58,734 71,093 Interest and penalties 4,073 486 1,643 Balance, end of period $ 116,081 $ 59,220 $ 72,736 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 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 years ended December 31, 2018 , 2017 and 2016 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 December 31, 2018 and 2017 . The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at December 31, 2018 and 2017 (dollars in thousands): 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 2.38% 3-Month Libor 4.0 $ 2,846,000 Other assets / Other liabilities $ 3,405 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 4.10% Indexed to 1-month Libor 6.0 1,048,196 Other assets / Other liabilities 14,883 (6,991 ) Pay-variable interest rate swaps Indexed to 1-month Libor 4.10% 6.0 1,048,196 Other assets / Other liabilities 11,318 (16,874 ) Interest rate caps purchased, indexed to 1-month Libor 3.43% 1.2 98,407 Other assets 9 — Interest rate caps sold, indexed to 1-month Libor 3.43% 1.2 98,407 Other liabilities — (9 ) $ 5,139,206 $ 29,615 $ (23,874 ) 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 years ended December 31, 2018 , 2017 and 2016 (dollars in thousands): 2018 2017 2016 Location of Gain (Loss) Reclassified from AOCI into Income Interest rate contracts $ 1,999 $ (9,621 ) $ (16,161 ) Interest expense on borrowings During the years ended December 31, 2018 , 2017 and 2016 , 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 December 31, 2018 , the amount of net gain expected to be reclassified from AOCI into earnings during the next twelve months was $7.9 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 December 31, 2018 and 2017 (in thousands): 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 $ 18,297 $ — $ 18,297 $ (5,264 ) $ (13,129 ) $ (96 ) Derivative liabilities (6,991 ) — (6,991 ) 5,264 436 (1,291 ) $ 11,306 $ — $ 11,306 $ — $ (12,693 ) $ (1,387 ) 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 December 31, 2018 , the Company had pledged net financial collateral of $0.4 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 $15 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 | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Accumulated Other Comprehensive Income Changes in other comprehensive income are summarized as follows for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding loss arising during the period $ (77,607 ) $ 20,566 $ (57,041 ) Amounts reclassified to gain on investment securities available for sale, net (6,103 ) 1,617 (4,486 ) Net change in unrealized gains on investment securities available for sale (83,710 ) 22,183 (61,527 ) Unrealized losses on derivative instruments: Net unrealized holding gain arising during the period 5,416 (1,435 ) 3,981 Amounts reclassified to interest expense on borrowings (1,999 ) 530 (1,469 ) Net change in unrealized losses on derivative instruments 3,417 (905 ) 2,512 Other comprehensive loss $ (80,293 ) $ 21,278 $ (59,015 ) 2017 Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain arising during the period $ 49,131 $ (19,407 ) $ 29,724 Amounts reclassified to gain on investment securities available for sale, net (33,466 ) 13,219 (20,247 ) Net change in unrealized gains on investment securities available for sale 15,665 (6,188 ) 9,477 Unrealized losses on derivative instruments: Net unrealized holding loss arising during the period (2,577 ) 1,018 (1,559 ) Amounts reclassified to interest expense on borrowings 9,621 (3,800 ) 5,821 Net change in unrealized losses on derivative instruments 7,044 (2,782 ) 4,262 Other comprehensive income $ 22,709 $ (8,970 ) $ 13,739 2016 Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain arising during the period $ 23,588 $ (9,317 ) $ 14,271 Amounts reclassified to gain on investment securities available for sale, net (14,461 ) 5,712 (8,749 ) Net change in unrealized gains on investment securities available for sale 9,127 (3,605 ) 5,522 Unrealized losses on derivative instruments: Net unrealized holding gain arising during the period 6,225 (2,459 ) 3,766 Amounts reclassified to interest expense on borrowings 16,161 (6,384 ) 9,777 Net change in unrealized losses on derivative instruments 22,386 (8,843 ) 13,543 Other comprehensive income $ 31,513 $ (12,448 ) $ 19,065 The categories of AOCI and changes therein are presented below for the years ended December 31, 2018 , 2017 and 2016 (in thousands): Unrealized Gain (Loss) on Investment Securities Available for Sale Unrealized Gain (Loss) on Derivative Instruments Total Balance at December 31, 2015 $ 41,535 $ (19,353 ) $ 22,182 Other comprehensive income 5,522 13,543 19,065 Balance at December 31, 2016 $ 47,057 $ (5,810 ) $ 41,247 Other comprehensive income 9,477 4,262 13,739 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 (61,527 ) 2,512 (59,015 ) Balance at December 31, 2018 $ 4,194 $ 679 $ 4,873 Other In January 2019, the Company's Board of Directors authorized the repurchase of up to $150 million 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 program may be commenced, suspended or discontinued without prior notice. In conjunction with a previous acquisition, the Company had issued 1,834,160 warrants to purchase its common stock. The warrants expired unexercised in November 2018. |
Equity Based Compensation
Equity Based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Note 13 Equity Based and Other Compensation Plans Description of Equity Based Compensation Plans In connection with the IPO of the Company's common stock in 2011, the Company adopted the 2010 Plan. In 2014, the Board of Directors and the Company's stockholders approved the 2014 Plan. The 2010 Plan and 2014 Plans are administered by the Board of Directors or a committee thereof and provide for the grant of non-qualified stock options, SARs, restricted shares, deferred shares, performance shares, unrestricted shares and other share-based awards to selected employees, directors or independent contractors of the Company and its affiliates. The number of shares of common stock authorized for award under the 2010 Plan is 7,500,000 , of which 118,847 shares remain available for issuance as of December 31, 2018 . The number of shares of common stock available for issuance under the 2014 Plan is 4,000,000 , of which 2,061,087 shares remain available for issuance as of December 31, 2018 . Shares of common stock delivered under the plans may consist of authorized but unissued shares or previously issued shares reacquired by the Company. The term of a share option or SAR issued under the plans may not exceed ten years from the date of grant and the exercise price may not be less than the fair market value of the Company's common stock at the date of grant. Unvested awards generally become fully vested in the event of a change in control, as defined. Compensation Expense Related to Equity Based Awards The following table summarizes compensation cost related to equity based awards for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 2017 2016 Compensation cost of equity based awards: Unvested and restricted share awards $ 19,415 $ 18,087 $ 16,885 Executive share-based awards 3,027 3,416 1,482 Incentive awards 798 1,289 — Total compensation cost of equity based awards 23,240 22,792 18,367 Related tax benefits (5,783 ) (8,576 ) (6,899 ) Compensation cost of equity based awards, net of tax $ 17,457 $ 14,216 $ 11,468 Share Awards Unvested share awards A summary of activity related to unvested share awards follows for the years ended December 31, 2018 , 2017 and 2016 follows: Number of Share Awards Weighted Average Grant Date Fair Value Unvested share awards outstanding, December 31, 2015 1,040,385 $ 31.86 Granted 651,760 31.00 Vested (428,167 ) 31.79 Canceled or forfeited (143,278 ) 31.31 Unvested share awards outstanding, December 31, 2016 1,120,700 31.46 Granted 621,806 40.24 Vested (553,007 ) 31.67 Canceled or forfeited (81,022 ) 34.51 Unvested share awards outstanding, December 31, 2017 1,108,477 36.06 Granted 683,137 40.06 Vested (532,662 ) 34.64 Canceled or forfeited (72,714 ) 38.43 Unvested share awards outstanding, December 31, 2018 1,186,238 $ 38.86 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 range of 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except per share data): 2018 2017 2016 Range of the closing price on date of grant $33.44 - $42.8 $33.21 - $40.84 $29.78 - $33.76 Aggregate grant date fair value of shares vesting $ 18,451 $ 17,514 $ 13,613 The total unrecognized compensation cost of $26.5 million for all unvested share awards outstanding at December 31, 2018 will be recognized over a weighted average remaining period of 1.70 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 through December 31, 2017. RSUs vested on December 31, 2018 have not yet settled. As a result of the previous cash settlements, 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 for the years ended December 31, 2018 , 2017 and 2016 follows: RSU PSU Unvested executive share-based awards outstanding, December 31, 2015 — — Granted 97,852 57,873 Vested (19,291 ) — Unvested executive share-based awards outstanding, December 31, 2016 78,561 57,873 Granted 47,848 47,848 Vested (35,238 ) — Unvested executive share-based awards outstanding, December 31, 2017 91,171 105,721 Granted 52,026 52,026 Vested (52,585 ) (57,873 ) Unvested executive share-based awards outstanding, December 31, 2018 90,612 99,874 The total liability for the share units was $5.5 million at December 31, 2018 . The total unrecognized compensation cost of $3.9 million for these share units at December 31, 2018 will be recognized over a weighted average remaining period of 1.78 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 $0.8 million at December 31, 2018 . The total unrecognized compensation cost of $2.3 million for incentive share awards at December 31, 2018 will be recognized over a weighted average remaining period of 3.00 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 683,137 unvested share awards granted during the year ended December 31, 2018 , as discussed above, included 77,050 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 years ended December 31, 2018 , 2017 and 2016 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2015 3,651,152 $ 26.62 Exercised (47,979 ) 16.50 Canceled or forfeited (1,097 ) 63.74 Option awards outstanding, December 31, 2016 3,602,076 26.74 Exercised (2,331,388 ) 26.63 Option awards outstanding, December 31, 2017 1,270,688 26.93 Exercised (291,689 ) 26.49 Canceled or forfeited (14,159 ) 11.14 Option awards outstanding and exercisable, December 31, 2018 964,840 $ 27.30 The intrinsic value of options exercised during the years ended December 31, 2018 , 2017 and 2016 was $4.6 million , $25.8 million and $0.9 million , respectively. The related tax benefit of options exercised was $1.1 million , $4.0 million and $0.3 million , respectively, during the years ended December 31, 2018 , 2017 and 2016 . |
Equity Based Compensation | ption Awards A summary of activity related to stock option awards for the years ended December 31, 2018 , 2017 and 2016 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2015 3,651,152 $ 26.62 Exercised (47,979 ) 16.50 Canceled or forfeited (1,097 ) 63.74 Option awards outstanding, December 31, 2016 3,602,076 26.74 Exercised (2,331,388 ) 26.63 Option awards outstanding, December 31, 2017 1,270,688 26.93 Exercised (291,689 ) 26.49 Canceled or forfeited (14,159 ) 11.14 Option awards outstanding and exercisable, December 31, 2018 964,840 $ 27.30 The intrinsic value of options exercised during the years ended December 31, 2018 , 2017 and 2016 was $4.6 million , $25.8 million and $0.9 million , respectively. The related tax benefit of options exercised was $1.1 million , $4.0 million and $0.3 million , respectively, during the years ended December 31, 2018 , 2017 and 2016 . There were no option awards granted during the years ended December 31, 2018 , 2017 and 2016 . Additional information about options outstanding and exercisable at December 31, 2018 is presented in the following table: Outstanding and Exercisable Options Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) $11.14 3,910 0.73 $ 74 $15.94 - $19.97 29,145 1.59 357 $22.18 - $22.31 40,917 2.42 314 $27 888,908 2.08 2,613 $63.74 1,960 0.18 — 964,840 2.07 3,358 Deferred Compensation Plan The Company has a non-qualified deferred compensation plan for a select group of key management or highly compensated employees whereby a participant, upon election, may defer a portion of eligible compensation. The deferred compensation plan provides for discretionary Company contributions. Generally, the Company has elected not to make contributions. The Company credits each participant's account with income based on either an annual interest rate determined by the Company's Compensation Committee or returns of selected investment portfolios, as elected by the participant. A participant's elective deferrals and interest thereon are at all times 100% vested. Company contributions and interest thereon will become 100% vested upon the earlier of a change in control, as defined, or the participant's death, disability, attainment of normal retirement age or the completion of two years of service. Participant deferrals and any associated earnings will be paid upon separation from service or based on a specified distribution schedule, as elected by the participant. Deferred compensation expense was $1.3 million , $1.5 million and $1.5 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. Deferred compensation liabilities of $24 million and $21 million were included in other liabilities in the accompanying consolidated balance sheets at December 31, 2018 and 2017 , respectively. BankUnited 401(k) Plan Under the terms of the 401(k) Plan sponsored by the Company, eligible employees may contribute a portion of compensation not exceeding the limits set by law. Employees are eligible to participate in the plan after one month of service. The 401(k) Plan allows a matching employer contribution equal to 100% of elective deferrals that do not exceed 1% of compensation, plus 70% of elective deferrals that exceed 1% but are less than 6% of compensation. Matching contributions are fully vested after two years of service. For the years ended December 31, 2018 , 2017 and 2016 , BankUnited made matching contributions to the 401(k) Plan of approximately $6.3 million , $ 5.5 million and $5.2 million , respectively. |
Regulatory Requirements and Res
Regulatory Requirements and Restrictions | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Regulatory Requirements and Restrictions The Company and the Bank are subject to various regulatory capital requirements administered by Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory—and possibly additional discretionary—actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance-sheet items calculated pursuant to regulation. The capital amounts and classification also are subject to qualitative judgments by the regulators about components, risk weightings and other factors. Banking regulations identify five capital categories for insured depository institutions: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. As of December 31, 2018 and 2017 , all capital ratios of the Company and the Bank exceeded the "well capitalized" levels under the regulatory framework for prompt corrective action. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of total, common equity tier 1 and tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of tier 1 capital to average tangible assets (leverage ratio). The following tables provide information regarding regulatory capital for the Company and the Bank as of December 31, 2018 and 2017 (dollars in thousands): 2018 Actual Required to be Considered Well Capitalized Required to be Considered Adequately Capitalized Required to be Considered Amount Ratio Amount Ratio Amount Ratio Amount Ratio BankUnited, Inc.: Tier 1 leverage $ 2,839,302 8.99 % N/A (1) N/A (1) $ 1,263,725 4.00 % N/A N/A CET1 risk-based capital $ 2,839,302 12.57 % $ 1,467,693 6.50 % $ 1,016,095 4.50 % $ 1,580,593 7.00 % Tier 1 risk-based capital $ 2,839,302 12.57 % $ 1,806,392 8.00 % $ 1,354,794 6.00 % $ 1,919,291 8.50 % Total risk based capital $ 2,952,464 13.08 % $ 2,257,990 10.00 % $ 1,806,392 8.00 % $ 2,370,889 10.50 % BankUnited: Tier 1 leverage $ 3,026,106 9.60 % $ 1,575,712 5.00 % $ 1,260,569 4.00 % N/A N/A CET1 risk-based capital $ 3,026,106 13.45 % $ 1,462,054 6.50 % $ 1,012,191 4.50 % $ 1,574,519 7.00 % Tier 1 risk-based capital $ 3,026,106 13.45 % $ 1,799,451 8.00 % $ 1,349,588 6.00 % $ 1,911,917 8.50 % Total risk based capital $ 3,139,268 13.96 % $ 2,249,314 10.00 % $ 1,799,451 8.00 % $ 2,361,779 10.50 % 2017 Actual Required to be Considered Well Capitalized Required to be Considered Adequately Capitalized Amount Ratio Amount Ratio Amount Ratio BankUnited, Inc.: Tier 1 leverage $ 2,892,069 9.72 % N/A (1) N/A (1) $ 1,189,944 4.00 % CET1 risk-based capital $ 2,892,069 13.11 % $ 1,434,193 6.50 % $ 992,903 4.50 % Tier 1 risk-based capital $ 2,892,069 13.11 % $ 1,765,161 8.00 % $ 1,323,871 6.00 % Total risk based capital $ 3,041,004 13.78 % $ 2,206,451 10.00 % $ 1,765,161 8.00 % BankUnited: Tier 1 leverage $ 3,107,920 10.47 % $ 1,483,796 5.00 % $ 1,187,037 4.00 % CET1 risk-based capital $ 3,107,920 14.13 % $ 1,429,999 6.50 % $ 989,999 4.50 % Tier 1 risk-based capital $ 3,107,920 14.13 % $ 1,759,999 8.00 % $ 1,319,999 6.00 % Total risk based capital $ 3,255,221 14.80 % $ 2,199,999 10.00 % $ 1,759,999 8.00 % (1) There is no Tier 1 leverage ratio component in the definition of a well-capitalized bank holding company. For purposes of risk based capital computations, the FDIC Indemnification asset and the covered assets are risk-weighted at 20% due to the conditional guarantee represented by the Loss Sharing Agreements. BankUnited is subject to various regulatory restrictions relating to the payment of dividends, including requirements to maintain capital at or above certain minimums, and to remain "well-capitalized" under the prompt corrective action regulations. The Company does not expect that any of these laws, regulations or policies will materially affect the ability of BankUnited to pay dividends in the future. Beginning January 1, 2019, the Bank and the Company will have to maintain a capital conservation buffer composed of CET1 capital equal to 2.50% of risk-weighted assets above the amounts required to be adequately capitalized in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. BankUnited is required by the Board of Governors of the Federal Reserve System to maintain reserve balances in the form of vault cash or deposits with the FRB. At December 31, 2018 , the reserve requirement for BankUnited was $148 million . |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 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. All of the Company's residential mortgage servicing rights were sold in 2018. 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): 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 39,873 $ — $ — $ 39,873 U.S. Government agency and sponsored enterprise residential MBS — 1,897,474 — 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS — 374,787 — 374,787 Private label residential MBS and CMOs — 1,499,514 34,684 1,534,198 Private label commercial MBS — 1,485,716 — 1,485,716 Single family rental real estate-backed securities — 402,458 — 402,458 Collateralized loan obligations — 1,235,198 — 1,235,198 Non-mortgage asset-backed securities — 204,067 — 204,067 State and municipal obligations — 398,429 — 398,429 SBA securities — 519,313 — 519,313 Other debt securities — — 4,846 4,846 Marketable equity securities 60,519 — — 60,519 Servicing rights — — 9,525 9,525 Derivative assets — 29,615 — 29,615 Total assets at fair value $ 100,392 $ 8,046,571 $ 49,055 $ 8,196,018 Derivative liabilities $ — $ 23,874 $ — $ 23,874 Total liabilities at fair value $ — $ 23,874 $ — $ 23,874 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 years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 52,214 $ 5,329 $ 30,737 Gains (losses) for the period included in: Net income 1,319 — 761 Other comprehensive income (5,193 ) (289 ) — Discount accretion 2,916 809 — Purchases or additions — — 12,600 Sales (5,120 ) — (34,573 ) Settlements (11,452 ) (1,003 ) — Balance at end of period $ 34,684 $ 4,846 $ 9,525 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (3,724 ) $ (289 ) 2017 Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 120,610 $ 4,572 $ 27,159 Gains (losses) for the period included in: Net income 25,547 — (5,821 ) Other comprehensive income (27,569 ) 766 — Discount accretion 6,181 280 — Purchases or additions — — 9,399 Sales (45,524 ) — — Settlements (27,031 ) (289 ) — Balance at end of period $ 52,214 $ 5,329 $ 30,737 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (3,345 ) $ 766 2016 Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 140,883 $ 4,532 $ 20,017 Gains (losses) for the period included in: Net income — — (6,023 ) Other comprehensive income (2,229 ) (9 ) — Discount accretion 5,947 116 — Purchases or additions — — 13,165 Settlements (23,991 ) (67 ) — Balance at end of period $ 120,610 $ 4,572 $ 27,159 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (2,229 ) $ (9 ) Gains on private label residential MBS recognized in net income during the years ended December 31, 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 losses included in earnings for the years ended December 31, 2018 , 2017 and 2016 that were related to servicing rights held at December 31, 2018 , 2017 and 2016 totaled approximately $1.5 million , $1.0 million and $1.8 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 December 31, 2018 consisted of pooled trust preferred securities with a fair value of $5 million and private label residential MBS and CMOs with a fair value of $35 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 December 31, 2018 were 12.8% and 10.1% 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 December 31, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) December 31, 2018 Investment grade $ 22,675 Discounted cash flow Voluntary prepayment rate 4.30% - 25.50% (12.28%) Probability of default 0.00% - 5.85% (1.03%) Loss severity 15.00% - 100.00% (18.84%) Discount rate 2.35% - 7.71% (2.95%) Non-investment grade $ 12,009 Discounted cash flow Voluntary prepayment rate 1.20% - 25.00% (16.51%) Probability of default 0.00% - 5.85% (2.31%) Loss severity 15.00% - 76.60% (29.16%) Discount rate 1.06% - 9.95% (4.91%) 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 December 31, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) December 31, 2018 Commercial servicing rights $ 9,525 Discounted cash flow Prepayment rate 2.82% - 17.09% (12.34%) Discount rate 4.84% - 17.07% (13.33%) 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 is based on prices obtained in a fourth quarter 2018 sale of taxi medallion loans and repossessed taxi medallions. At December 31, 2018, the Company's investment in taxi medallion loans and repossessed taxi medallions was not material. 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. Equipment under operating lease —Fair values of equipment under operating lease are typically based upon discounted cash flow analysis, considering expected lease rates and estimated end of life residual values. These fair value measurements are classified within level 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): 2018 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Year Ended December 31, 2018 OREO and repossessed assets $ — $ 1,085 $ 486 $ 1,571 $ (1,864 ) Impaired loans $ — $ 775 $ 35,397 $ 36,172 $ (6,816 ) 2017 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Year Ended December 31, 2017 OREO and repossessed assets $ — $ — $ 5,790 $ 5,790 $ (2,078 ) Impaired loans $ — $ — $ 93,051 $ 93,051 $ (65,716 ) 2016 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Year Ended December 31, 2016 OREO and repossessed assets $ — $ — $ 12,466 $ 12,466 $ (1,156 ) Impaired loans $ — $ — $ 78,121 $ 78,121 $ (25,573 ) Equipment under operating lease $ — $ — $ 8,173 $ 8,173 $ (4,100 ) Included in the tables above are impaired taxi medallion loans with carrying values of $0.8 million , $86.0 million and $50.7 million at December 31, 2018 , 2017 and 2016, respectively, the majority of which were in New York City. Losses from fair value changes included in the tables above include $0.5 million , $62.4 million and $12.7 million were recognized on impaired taxi medallion loans during the years ended December 31, 2018 , 2017 and 2016, respectively. In addition, OREO and repossessed assets reported above included repossessed taxi medallions with carrying values of $1.1 million , $2.1 million and $2.5 million at December 31, 2018 , 2017 and 2016, respectively. Losses of $1.0 million , $1.3 million and $0.2 million were recognized on repossessed taxi medallions during the years ended December 31, 2018 , 2017 and 2016 , 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 December 31, 2018 and 2017 (dollars in thousands): 2018 2017 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 382,073 $ 382,073 $ 194,582 $ 194,582 Investment securities 1/2/3 8,166,878 8,167,127 6,690,832 6,690,832 Non-marketable equity securities 2 267,052 267,052 265,989 265,989 Loans held for sale 2 36,992 39,931 34,097 37,847 Loans: Covered 3 201,346 207,813 502,860 922,888 Non-covered 3 21,665,731 21,660,445 20,768,849 20,759,567 FDIC indemnification asset 3 — — 295,635 148,356 Derivative assets 2 29,615 29,615 27,627 27,627 Liabilities: Demand, savings and money market deposits 2 $ 16,654,465 $ 16,654,465 $ 15,543,637 $ 15,543,637 Time deposits 2 6,819,758 6,820,355 6,334,842 6,324,010 Federal funds purchased 2 175,000 175,000 — — FHLB advances 2 4,796,000 4,810,446 4,771,000 4,774,160 Notes and other borrowings 2 402,749 416,142 402,830 435,361 Derivative liabilities 2 23,874 23,874 25,373 25,373 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 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 December 31, 2018 were as follows (in thousands): Commitments to fund loans $ 508,074 Commitments to purchase loans 518,054 Unfunded commitments under lines of credit 2,853,431 Commercial and standby letters of credit 85,446 $ 3,965,005 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. |
Condensed Financial Statements
Condensed Financial Statements of BankUnited, Inc. | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Statements [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Condensed Financial Statements of BankUnited, Inc. Condensed financial statements of BankUnited, Inc. are presented below (in thousands): Condensed Balance Sheets December 31, 2018 December 31, 2017 Assets: Cash and cash equivalents $ 143,843 $ 131,696 Investment securities available for sale, at fair value 60,519 63,543 Investment in BankUnited, N.A. 3,110,638 3,239,717 Deferred tax asset, net 10,088 9,456 Other assets 27,319 8,462 Total assets $ 3,352,407 $ 3,452,874 Liabilities and Stockholders' Equity: Notes payable $ 394,390 $ 393,725 Other liabilities 34,184 33,087 Stockholders' equity 2,923,833 3,026,062 Total liabilities and stockholders' equity $ 3,352,407 $ 3,452,874 Condensed Statements of Income Years Ended December 31, 2018 2017 2016 Income: Interest and dividends on investment securities available for sale $ 3,532 $ 3,580 $ 4,280 Service fees from subsidiary 21,000 18,787 21,957 Equity in earnings of subsidiary 349,937 639,250 242,874 Loss on investment securities (2,805 ) — — Total 371,664 661,617 269,111 Expense: Interest on borrowings 20,165 20,132 20,100 Employee compensation and benefits 28,477 27,032 27,143 Other 5,617 5,047 4,466 Total 54,259 52,211 51,709 Income before income taxes 317,405 609,406 217,402 Benefit for income taxes (7,461 ) (4,867 ) (8,339 ) Net income $ 324,866 $ 614,273 $ 225,741 Condensed Statements of Cash Flows Years Ended December 31, 2018 2017 2016 Cash flows from operating activities: Net income $ 324,866 $ 614,273 $ 225,741 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries 70,064 (519,250 ) (157,374 ) Equity based compensation 23,137 22,692 18,032 Other (15,654 ) 3,343 7,438 Net cash provided by operating activities 402,413 121,058 93,837 Cash flows from investing activities: Capital contributions to subsidiary — (55,000 ) — Purchase of investment securities available for sale — — (20,150 ) Proceeds from repayments, sale, maturities and calls of investment securities available for sale — 15,000 19,401 Other (156 ) (250 ) (3 ) Net cash used in investing activities (156 ) (40,250 ) (752 ) Cash flows from financing activities: Dividends paid (91,305 ) (91,628 ) (89,824 ) Proceeds from exercise of stock options 7,727 62,095 791 Repurchase of common stock (299,972 ) — — Other (6,560 ) (7,297 ) 856 Net cash used in financing activities (390,110 ) (36,830 ) (88,177 ) Net increase in cash and cash equivalents 12,147 43,978 4,908 Cash and cash equivalents, beginning of period 131,696 87,718 82,810 Cash and cash equivalents, end of period $ 143,843 $ 131,696 $ 87,718 Supplemental schedule of non-cash investing and financing activities: Dividends declared, not paid $ 21,673 $ 23,055 $ 22,510 Dividends received by BankUnited, Inc. from the Bank totaled $ 420 million , $120 million and $85.5 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | ||
Quarterly Financial Information [Table Text Block] | Note 18 Quarterly Financial Information (Unaudited) Financial information by quarter for the years ended December 31, 2018 and 2017 follows (in thousands, except per share data): 2018 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 414,796 $ 357,717 $ 348,855 $ 327,776 $ 1,449,144 Interest expense 119,743 105,749 93,592 79,967 399,051 Net interest income before provision for loan losses 295,053 251,968 255,263 247,809 1,050,093 Provision for loan losses 12,583 1,200 8,995 3,147 25,925 Net interest income after provision for loan losses 282,470 250,768 246,268 244,662 1,024,168 Non-interest income 33,328 38,735 31,973 27,986 132,022 Non-interest expense 246,678 170,798 161,247 161,817 740,540 Income before income taxes 69,120 118,705 116,994 110,831 415,650 Provision for income taxes 16,717 21,377 27,094 25,596 90,784 Net income $ 52,403 $ 97,328 $ 89,900 $ 85,235 $ 324,866 Earnings per common share, basic $ 0.50 $ 0.90 $ 0.82 $ 0.78 $ 3.01 Earnings per common share, diluted $ 0.50 $ 0.90 $ 0.82 $ 0.77 $ 2.99 2017 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 312,645 $ 309,443 $ 298,835 $ 283,538 $ 1,204,461 Interest expense 73,819 68,179 59,246 52,945 254,189 Net interest income before provision for loan losses 238,826 241,264 239,589 230,593 950,272 Provision for loan losses 5,174 37,854 13,619 12,100 68,747 Net interest income after provision for loan losses 233,652 203,410 225,970 218,493 881,525 Non-interest income 46,541 53,326 29,893 28,144 157,904 Non-interest expense 161,271 156,705 160,435 156,557 634,968 Income before income taxes 118,922 100,031 95,428 90,080 404,461 Provision (benefit) for income taxes (298,872 ) 32,252 29,021 27,787 (209,812 ) Net income $ 417,794 $ 67,779 $ 66,407 $ 62,293 $ 614,273 Earnings per common share, basic $ 3.80 $ 0.62 $ 0.60 $ 0.57 $ 5.60 Earnings per common share, diluted $ 3.79 $ 0.62 $ 0.60 $ 0.57 $ 5.58 Earnings for the fourth quarter 2017 benefited from a discrete income tax benefit of $327.9 million . See Note 10 to the consolidated financial statements for more information about the discrete income tax benefit. | Quarterly Financial Information (Unaudited) Financial information by quarter for the years ended December 31, 2018 and 2017 follows (in thousands, except per share data): 2018 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 414,796 $ 357,717 $ 348,855 $ 327,776 $ 1,449,144 Interest expense 119,743 105,749 93,592 79,967 399,051 Net interest income before provision for loan losses 295,053 251,968 255,263 247,809 1,050,093 Provision for loan losses 12,583 1,200 8,995 3,147 25,925 Net interest income after provision for loan losses 282,470 250,768 246,268 244,662 1,024,168 Non-interest income 33,328 38,735 31,973 27,986 132,022 Non-interest expense 246,678 170,798 161,247 161,817 740,540 Income before income taxes 69,120 118,705 116,994 110,831 415,650 Provision for income taxes 16,717 21,377 27,094 25,596 90,784 Net income $ 52,403 $ 97,328 $ 89,900 $ 85,235 $ 324,866 Earnings per common share, basic $ 0.50 $ 0.90 $ 0.82 $ 0.78 $ 3.01 Earnings per common share, diluted $ 0.50 $ 0.90 $ 0.82 $ 0.77 $ 2.99 2017 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 312,645 $ 309,443 $ 298,835 $ 283,538 $ 1,204,461 Interest expense 73,819 68,179 59,246 52,945 254,189 Net interest income before provision for loan losses 238,826 241,264 239,589 230,593 950,272 Provision for loan losses 5,174 37,854 13,619 12,100 68,747 Net interest income after provision for loan losses 233,652 203,410 225,970 218,493 881,525 Non-interest income 46,541 53,326 29,893 28,144 157,904 Non-interest expense 161,271 156,705 160,435 156,557 634,968 Income before income taxes 118,922 100,031 95,428 90,080 404,461 Provision (benefit) for income taxes (298,872 ) 32,252 29,021 27,787 (209,812 ) Net income $ 417,794 $ 67,779 $ 66,407 $ 62,293 $ 614,273 Earnings per common share, basic $ 3.80 $ 0.62 $ 0.60 $ 0.57 $ 5.60 Earnings per common share, diluted $ 3.79 $ 0.62 $ 0.60 $ 0.57 $ 5.58 Earnings for the fourth quarter 2017 benefited from a discrete income tax benefit of $327.9 million . See Note 10 to the consolidated financial statements for more information about the discrete income tax benefit. |
Subsequent events Subsequent Ev
Subsequent events Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Subsequent Event [Line Items] | |
Subsequent Events [Text Block] | Note 19 Subsequent Events Termination of Single Family Shared-Loss Agreement On February 13, 2019, the Bank entered into a termination agreement with the FDIC that terminated the Bank’s Single Family Shared-Loss Agreement with the FDIC effective immediately. The Bank has made a payment of approximately seven thousand dollars to the FDIC in connection with the termination and all rights and obligations of the Bank and the FDIC under the Single Family Shared-Loss Agreement have been terminated. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 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, and the fair values of investment securities and other financial instruments. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of BankUnited, Inc. and its wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. VIEs are consolidated if the Company is the primary beneficiary; i.e., has (i) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company has variable interests in affordable housing limited partnerships that are not required to be consolidated because the Company is not the primary beneficiary. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements Certain of the Company's assets and liabilities are reflected in the consolidated financial statements at fair value on either a recurring or non-recurring basis. Investment securities available for sale, marketable equity securities, servicing rights and derivative instruments are measured at fair value on a recurring basis. Assets measured at fair value or fair value less cost to sell on a non-recurring basis may include collateral dependent impaired loans, OREO and other repossessed assets, loans held for sale, goodwill and impaired long-lived assets. These non-recurring fair value measurements typically involve lower-of-cost-or-market accounting or the measurement of impairment of certain assets. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. GAAP establishes a hierarchy that prioritizes inputs used to determine fair value measurements into three levels based on the observability and transparency of the inputs: • Level 1 inputs are unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. • Level 2 inputs are observable inputs other than level 1 inputs, including quoted prices for similar assets and liabilities, quoted prices for identical assets and liabilities in less active markets and other inputs that can be corroborated by observable market data. • Level 3 inputs are unobservable inputs supported by limited or no market activity or data and inputs requiring significant management judgment or estimation. The fair value hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs in estimating fair value. Unobservable inputs are utilized in determining fair value measurements only to the extent that observable inputs are unavailable. The need to use unobservable inputs generally results from a lack of market liquidity and diminished observability of actual trades or assumptions that would otherwise be available to value a particular asset or liability. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, both interest bearing and non-interest bearing, including amounts on deposit at the Federal Reserve Bank, and federal funds sold. Cash equivalents have original maturities of three months or less. For purposes of reporting cash flows, cash receipts and payments pertaining to FHLB advances with original maturities of three months or less are reported net. |
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | Investment 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, a separate component of stockholders' equity. Securities classified as available for sale may be used as part of the Company's asset/liability management strategy and may be sold in response to liquidity needs, regulatory changes, changes in interest rates, prepayment risk or other market factors. The Company does not maintain a trading portfolio. Purchase premiums and discounts on debt securities are amortized as adjustments to yield over the expected lives of the securities, using the level yield method. Premiums are amortized to the call date if the call is considered to be clearly and closely related to the host contract. Realized gains and losses from sales of securities are recorded on the trade date and are determined using the specific identification method. The Company reviews investment securities for OTTI at least quarterly. An investment security is impaired if its fair value is lower than its amortized cost basis. The Company considers many factors in determining whether a decline in fair value below amortized cost represents OTTI, including, but not limited to: • the Company's intent to hold the security until maturity or for a period of time sufficient for a recovery in value; • whether it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost basis; • the length of time and extent to which fair value has been less than amortized cost; • adverse changes in expected cash flows; • collateral values and performance; • the payment structure of the security including levels of subordination or over-collateralization; • changes in the economic or regulatory environment; • the general market condition of the geographic area or industry of the issuer; • the issuer's financial condition, performance and business prospects; and • changes in credit ratings. The relative importance assigned to each of these factors varies depending on the facts and circumstances pertinent to the individual security being evaluated. The Company recognizes OTTI of a debt security for which there has been a decline in fair value below amortized cost if (i) management intends to sell the security, (ii) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, or (iii) the Company does not expect to recover the entire amortized cost basis of the security. If the Company intends to sell the security, or if it is more likely than not it will be required to sell the security before recovery, an OTTI write-down is recognized in earnings equal to the entire difference between the amortized cost basis and fair value of the security. Otherwise, the amount by which amortized cost exceeds the fair value of a debt security that is considered to be other-than-temporarily impaired is separated into a component representing the credit loss, which is recognized in earnings, and a component related to all other factors, which is recognized in other comprehensive income. The measurement of the credit loss component is equal to the difference between the debt security's amortized cost basis and the present value of its expected future cash flows discounted at the security's effective yield. Marketable equity securities with readily determinable fair values are reported at fair value with unrealized gains and losses included in earnings effective January 1, 2018. 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. |
Nonmarketable Equity Securities [Policy Text Block] | Non-marketable Equity Securities The Bank, as a member of the FRB system and the FHLB, is required to maintain investments in the stock of the FRB and FHLB. No market exists for this stock, and the investment can be liquidated only through redemption by the respective institutions, at the discretion of and subject to conditions imposed by those institutions. The stock has no readily determinable fair value and is carried at cost. Historically, stock redemptions have been at par value, which equals the Company's carrying value. The Company monitors its investment in FHLB stock for impairment through review of recent financial results of the FHLB, including capital adequacy and liquidity position, dividend payment history, redemption history and information from credit agencies. The Company has not identified any indicators of impairment of FHLB stock. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale The guaranteed portion of SBA and USDA loans originated with the intent to sell are carried at the lower of cost or fair value, determined in the aggregate. A valuation allowance is established through a charge to earnings if the aggregate fair value of such loans is lower than their cost. Gains or losses recognized upon sale are determined on the specific identification basis. Loans not originated or otherwise acquired with the intent to sell are transferred into the held for sale classification at the lower of carrying amount or fair value when they are specifically identified for sale and a formal plan exists to sell them. Acquired credit impaired loans accounted for in pools are removed from the pools at their carrying amounts when they are sold. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans The Company's loan portfolio contains 1-4 single family residential first mortgages, government insured residential mortgages, home equity loans and lines of credit, consumer, multi-family, owner and non-owner occupied commercial real estate, construction and land, and commercial and industrial loans, mortgage warehouse lines of credit and direct financing leases. The Company segregates its loan portfolio between covered and non-covered loans. Covered loans are loans acquired from the FDIC in the FSB Acquisition that are covered under the Single Family Shared-Loss Agreement. Covered loans are further segregated between ACI loans and non-ACI loans. Non-covered Loans Non-covered loans, other than non-covered ACI loans, are carried at UPB, net of premiums, discounts, unearned income, deferred loan origination fees and costs, and the ALLL Interest income on these loans is accrued based on the principal amount outstanding. Non-refundable loan origination fees, net of direct costs of originating or acquiring loans, as well as purchase premiums and discounts, are deferred and recognized as adjustments to yield over the contractual lives of the related loans using the level yield method. Direct Financing Leases Direct financing leases are carried at the aggregate of lease payments receivable and estimated residual value of the leased property, if applicable, less unearned income. Interest income on direct financing leases is recognized over the term of the leases to achieve a constant periodic rate of return on the outstanding investment. Initial direct costs are deferred and amortized over the lease term as a reduction to interest income using the effective interest method. |
ACI Loans [Policy Text Block] | ACI Loans ACI loans, all of which were acquired in the FSB Acquisition and the substantial majority of which are covered under the Single Family Shared-Loss Agreement, are those for which, at acquisition, management determined it probable that the Company would be unable to collect all contractual principal and interest payments due. These loans were recorded at estimated fair value at acquisition, measured as the present value of all cash flows expected to be received, discounted at an appropriately risk-adjusted discount rate. Initial cash flow expectations incorporated significant assumptions regarding prepayment rates, frequency of default and loss severity. The difference between total contractually required payments on ACI loans and the cash flows expected to be received represents non-accretable difference. The excess of all cash flows expected to be received over the Company's recorded investment in the loans represents accretable yield and is recognized as interest income on a level-yield basis over the expected life of the loans. The Company aggregated ACI 1-4 single family residential mortgage loans and home equity loans and lines of credit with similar risk characteristics into homogenous pools at acquisition. A composite interest rate and composite expectations of future cash flows are used in accounting for each pool. These loans were aggregated into pools based on the following characteristics: • delinquency status; • product type, in particular, amortizing as opposed to option ARMs; • loan-to-value ratio; and • borrower FICO score. Loans that do not have similar risk characteristics, primarily commercial and commercial real estate loans, are accounted for on an individual loan basis using interest rates and expectations of cash flows for each loan. The Company is required to develop reasonable expectations about the timing and amount of cash flows to be collected related to ACI loans and to continue to update those estimates over the lives of the loans. Expected cash flows from ACI loans are updated quarterly. If it is probable that the Company will be unable to collect all the cash flows expected from a loan or pool at acquisition plus additional cash flows expected to be collected arising from changes in estimates after acquisition, the loan or pool is considered impaired and a valuation allowance is established by a charge to the provision for loan losses. If there is an increase in expected cash flows from a loan or pool, the Company first reduces any valuation allowance previously established by the amount of the increase in the present value of expected cash flows, and then recalculates the amount of accretable yield for that loan or pool. The adjustment of accretable yield due to an increase in expected cash flows, as well as changes in expected cash flows due to changes in interest rate indices and changes in prepayment assumptions is accounted for prospectively as a change in yield. Additional cash flows expected to be collected are transferred from non-accretable difference to accretable yield and the amount of periodic accretion is adjusted accordingly over the remaining life of the loan or pool. The Company may resolve an ACI loan either through a sale of the loan, by working with the customer and obtaining partial or full repayment, by short sale of the collateral, or by foreclosure. When a loan accounted for in a pool is resolved, it is removed from the pool at its allocated carrying amount. In the event of a sale of the loan, the Company recognizes a gain or loss on sale based on the difference between the sales proceeds and the carrying amount of the loan. For loans resolved through pre-payment or short sale of the collateral, the Company recognizes the difference between the amount of the payment received and the carrying amount of the loan in the income statement line item "Income from resolution of covered assets, net". For loans resolved through foreclosure, the difference between the fair value of the collateral obtained through foreclosure less estimated cost to sell and the carrying amount of the loan is recognized in the income statement line item "Income from resolution of covered assets, net". Any remaining accretable discount related to loans not accounted for in pools that are resolved by full or partial pre-payment, short sale or foreclosure is recognized in interest income at the time of resolution, to the extent collected. Payments received earlier than expected or in excess of expected cash flows from sales or other resolutions may result in the carrying value of a pool being reduced to zero even though outstanding contractual balances and expected cash flows remain related to loans in the pool. Once the carrying value of a pool is reduced to zero, any future proceeds, which may include cash or real estate acquired in foreclosure, from the remaining loans, representing further realization of accretable yield, are recognized as interest income upon receipt. |
Non-ACI Loans [Policy Text Block] | Covered Non-ACI Loans Loans acquired in the FSB Acquisition without evidence of deterioration in credit quality since origination were initially recorded at estimated fair value on the acquisition date. Non-ACI 1-4 single family residential mortgage loans and home equity loans and lines of credit with similar risk characteristics were aggregated into pools for accounting purposes at acquisition. Non-ACI loans are carried at the principal amount outstanding, adjusted for unamortized acquisition date fair value adjustments and the ALLL. Interest income is accrued based on the UPB and, with the exception of home equity loans and lines of credit, acquisition date fair value adjustments are amortized using the level-yield method over the expected lives of the related loans. For non-ACI 1-4 family residential mortgage loans accounted for in pools, prepayment estimates are used in determining the periodic amortization of acquisition date fair value adjustments. Acquisition date fair value adjustments related to revolving home equity loans and lines of credit are amortized on a straight-line basis. |
Loans and Leases Receivable, Nonaccrual Loan and Lease Status, Policy [Policy Text Block] | Non-accrual Loans Commercial loans, other than ACI loans, are placed on non-accrual status when (i) management has determined that full repayment of all contractual principal and interest is in doubt, or (ii) the loan is past due 90 days or more as to principal or interest unless the loan is well secured and in the process of collection. Residential and consumer loans, other than ACI loans, are generally placed on non-accrual status when 90 days of interest is due and unpaid. When a loan is placed on non-accrual status, uncollected interest accrued is reversed and charged to interest income. Payments received on nonaccrual commercial loans are applied as a reduction of principal. Interest payments are recognized as income on a cash basis on nonaccrual residential loans. Commercial loans are returned to accrual status only after all past due principal and interest has been collected and full repayment of remaining contractual principal and interest is reasonably assured. Residential and consumer loans are returned to accrual status when there is no longer 90 days of interest due and unpaid. Past due status of loans is determined based on the contractual next payment due date. Loans less than 30 days past due are reported as current. Contractually delinquent ACI loans are not classified as non-accrual as long as discount continues to be accreted on the loans or pools. |
Impaired Financing Receivable, Policy [Policy Text Block] | Impaired Loans Loans, other than ACI loans and government insured residential 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 with committed balances greater than or equal to $1.0 million that have internal risk ratings of substandard or doubtful and are on non-accrual status, 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. An ACI pool or loan is considered to be impaired when it is probable that the Company will be unable to collect all the cash flows expected at acquisition, plus additional cash flows expected to be collected arising from changes in estimates after acquisition. 1-4 single family residential and home equity ACI loans accounted for in pools are evaluated collectively for impairment on a pool by pool basis based on expected pool cash flows. Commercial ACI loans are individually evaluated for impairment based on expected cash flows from the individual loans. Discount continues to be accreted on ACI loans or pools as long as there are expected future cash flows in excess of the current carrying amount of the loans or pools. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructurings In certain situations, due to economic or legal reasons related to a borrower's financial difficulties, the Company may grant a concession to the borrower for other than an insignificant period of time that it would not otherwise consider. At that time, except for ACI loans accounted for in pools, the related loan is classified as a TDR and considered impaired. The concessions granted may include rate reductions, principal forgiveness, payment forbearance, extensions of maturity at rates of interest below that commensurate with the risk profile of the loans, modification of payment terms and other actions intended to minimize economic loss. A TDR is generally placed on non-accrual status at the time of the modification unless the borrower was performing prior to the restructuring. Modified ACI loans accounted for in pools are not accounted for as TDRs, are not separated from the pools and are not classified as impaired loans. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan and Lease Losses The ALLL represents the amount considered adequate by management to absorb probable incurred losses inherent in the loan portfolio at the balance sheet date. The ALLL consists of both specific and general components. The ALLL is established as losses are estimated to have occurred through a provision charged to earnings. Individual loans are charged off against the ALLL when management determines them to be uncollectible. An assessment of collateral value is made at no later than 120 days delinquency for non-covered open- and closed-end loans secured by residential real estate; any outstanding loan balance in excess of fair value less cost to sell is charged off at no later than 180 days delinquency. Additionally, any outstanding balance in excess of fair value of collateral less cost to sell is charged off (i) within 60 days of receipt of notification of filing from the bankruptcy court, (ii) within 60 days of determination of loss if all borrowers are deceased or (iii) within 90 days of discovery of fraudulent activity. Covered non-ACI loans secured by residential real estate are generally charged off at final resolution which is consistent with the terms of the Single Family Shared-Loss Agreement. Consumer loans are typically charged off at 120 days delinquency. Commercial loans are charged off when management deems them to be uncollectible. Subsequent recoveries are credited to the ALLL. Commercial loans The allowance is comprised of specific reserves for loans that are individually evaluated and determined to be impaired as well as general reserves for loans that have not been identified as impaired. Management believes that loans rated special mention, substandard or doubtful that are not individually evaluated for impairment exhibit characteristics indicative of a heightened level of credit risk. A quantitative loss factor is applied to loans rated special mention based on average annual probability of default and implied severity, derived from internal and external data. Loss factors for substandard and doubtful loans that are not individually evaluated are determined by using default frequency and severity information applied at the loan level. Estimated default frequencies and severities are based on available industry and internal data. In addition, a floor is applied to these calculated loss factors, based on the loss factor applied to the special mention portfolio. To the extent, in management's judgment, commercial portfolio segments have sufficient observable loss history, the quantitative portion of the ALLL is based on the Bank's historical net charge-off rates. These commercial segments include commercial and industrial loans and the Bridge portfolios. For commercial portfolio segments that have not yet exhibited an observable loss trend, the quantitative loss factors are based on peer group average annual historical net charge-off rates by loan class and the Company’s internal credit risk rating system. These commercial segments include multifamily, non-owner occupied commercial real estate and construction and land loans. Quantitative loss factors for SBF loans are based on historical charge-off rates published by the SBA. For Pinnacle, quantitative loss factors are based primarily on historical municipal default data. For most commercial portfolio segments, we use a 20 quarter look-back period in the calculation of historical net charge-off rates. Where applicable, the peer group used to calculate average annual historical net charge-off rates used in estimating general reserves is made up of 26 banks included in the OCC Midsize Bank Group plus five additional banks not included in the OCC Midsize Bank Group that management believes to be comparable based on size, geography and nature of lending operations. Peer bank data is obtained from the Statistics on Depository Institutions Report published by the FDIC for the most recent quarter available. These banks, as a group, are considered by management to be comparable to BankUnited in size, nature of lending operations and loan portfolio composition. We evaluate the composition of the peer group annually, or more frequently if, in our judgment, a more frequent evaluation is necessary. Our internal risk rating system comprises 13 credit grades; grades 1 through 8 are “pass” grades. The risk ratings are driven largely by debt service coverage. Peer group historical loss rates are adjusted upward for loans assigned a lower “pass” rating. As noted above, management generally use a 20 quarter look-back period to calculate quantitative loss rates. Management believes this look-back period to be consistent with the range of industry practice and appropriate to capture a sufficient range of observations reflecting the performance of our loans, which were originated in the current economic cycle. With the exception of the Pinnacle municipal finance portfolio, a four quarter loss emergence period is used in the calculation of general reserves. A twelve quarter loss emergence period is used in the calculation of general reserves for the Pinnacle portfolio. The primary assumptions underlying estimates of expected cash flows for ACI commercial loans are default probability and severity of loss given default. Assessments of default probability and severity are based on net realizable value analyses prepared at the individual loan level. Residential and other consumer loans Non-covered Loans The non-covered loan portfolio has not yet developed an observable loss trend. Therefore, the ALLL for non-covered residential loans is based primarily on relevant proxy historical loss rates. The ALLL for non-covered 1-4 single family residential loans, excluding government insured residential loans, is estimated using average annual loss rates on prime residential mortgage securitizations issued between 2003 and 2008 as a proxy. Based on the comparability of FICO scores and LTV ratios between loans included in those securitizations and loans in the Bank’s portfolio and the geographic diversity in the new purchased residential portfolio, we determined that prime residential mortgage securitizations provide an appropriate proxy for incurred losses in this portfolio class. A peer group 18-quarter average net charge-off rate is used to estimate the ALLL for the non-covered home equity and other consumer loan classes. The non-covered home equity and other consumer loan portfolios are not significant components of the overall loan portfolio. No quantitative ALLL is provided for U.S. Government insured residential loans. Covered non-ACI Loans The reserving methodology for the non-ACI 1-4 single family residential mortgages is consistent with the methodology to calculated the ALLL for non-covered residential portfolio segment discussed above. Qualitative Factors Qualitative adjustments are made to the ALLL when, based on management’s judgment, there are internal or external factors impacting probable incurred losses not taken into account by the quantitative calculations. Potential qualitative adjustments are categorized as follows: • Portfolio performance trends, including trends in and the levels of delinquencies, non-performing loans and classified loans; • Changes in the nature of the portfolio and terms of the loans, specifically including the volume and nature of policy and procedural exceptions; • Portfolio growth trends; • Changes in lending policies and procedures, including credit and underwriting guidelines and portfolio management practices; • Economic factors, including unemployment rates and GDP growth rates and other factors considered relevant by management; • Changes in the value of underlying collateral; • Quality of risk ratings, as evaluated by our independent credit review function; • Credit concentrations; • Changes in and experience levels of credit administration management and staff; and • Other factors identified by management that may impact the level of losses inherent in the portfolio, including but not limited to competition and legal and regulatory considerations. Covered ACI Loans For ACI loans, a valuation allowance is established when periodic evaluations of expected cash flows reflect a deterioration resulting from credit related factors from the level of cash flows that were estimated to be collected at acquisition plus any additional expected cash flows arising from revisions in those estimates. A quarterly analysis of expected cash flows is performed for ACI loans. Expected cash flows are estimated on a pool basis for ACI 1-4 single family residential loans. The analysis of expected cash flows incorporates updated expected prepayment rate, default rate, delinquency level and loss severity given default assumptions. Reserve for Unfunded Commitments The reserve for unfunded commitments represents the estimated probable losses related to unfunded lending commitments. The reserve is calculated in a manner similar to the general reserve for non-covered loans, while also considering the timing and likelihood that the available credit will be utilized as well as the exposure upon default. The reserve for unfunded commitments is presented within other liabilities on the consolidated balance sheets, distinct from the ALLL, and adjustments to the reserve for unfunded commitments are included in other non-interest expense in the consolidated statements of income. |
FDIC Indemnification Asset [Policy Text Block] | FDIC Indemnification Asset The FDIC indemnification asset was initially recorded at the time of the FSB Acquisition at fair value, measured as the present value of the estimated cash payments expected from the FDIC for probable losses on covered assets. The FDIC indemnification asset is measured separately from the related covered assets. It is not contractually embedded in the covered assets and it is not transferable with the covered assets should the Company choose to dispose of them. Impairment of expected cash flows from covered assets results in an increase in cash flows expected to be collected from the FDIC. These increased expected cash flows from the FDIC are recognized as increases in the FDIC indemnification asset and as non-interest income in the same period that the impairment of the covered assets is recognized in the provision for loan losses. Increases in expected cash flows from covered assets result in decreases in cash flows expected to be collected from the FDIC. These decreases in expected cash flows from the FDIC are recognized immediately in earnings to the extent that they relate to a reversal of a previously recorded valuation allowance related to the covered assets. Any remaining decreases in cash flows expected to be collected from the FDIC are recognized prospectively through an adjustment of the rate of accretion or amortization on the FDIC indemnification asset, consistent with the approach taken to recognize increases in expected cash flows on the covered assets. Amortization of the FDIC indemnification asset results from circumstances in which, due to improvement in expected cash flows from the covered assets, expected cash flows from the FDIC are less than the carrying value of the FDIC indemnification asset. Accretion or amortization of the FDIC indemnification asset is recognized in earnings using the effective interest method over the period during which cash flows from the FDIC are expected to be collected, which is limited to the lesser of the contractual term of the indemnification agreement and the remaining life of the indemnified assets. Gains and losses from resolution of ACI loans are included in the income statement line item "Income from resolution of covered assets, net." These gains and losses represent the difference between the expected losses from ACI loans and consideration actually received in satisfaction of such loans that were resolved either by payment in full, foreclosure or short sale. The Company may also realize gains or losses on the sale or impairment of covered loans or covered OREO. When the Company recognizes gains or losses related to the resolution, sale or impairment of covered assets in earnings, corresponding changes in the estimated amount recoverable from the FDIC under the Loss Sharing Agreements are reflected in the consolidated financial statements as increases or decreases in the FDIC indemnification asset and in the consolidated statement of income line item " Net loss on FDIC indemnification ." The FDIC indemnification asset was amortized to zero as of December 31, 2018 as expectations of losses eligible for indemnification with respect to the remaining covered assets prior to final termination of the Single Family Shared-Loss Agreement were insignificant. See Notes 4 and 5 to our consolidated financial statements for further discussion. |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance Bank owned life insurance is carried at the amount that could be realized under the contract at the balance sheet date, which is typically cash surrender value. Changes in cash surrender value are recorded in non-interest income. |
Lessor, Leases [Policy Text Block] | Equipment Under Operating Lease Equipment under operating lease is carried at cost less accumulated depreciation and is depreciated to estimated residual value using the straight-line method over the lease term. Estimated residual values are re-evaluated at least annually, based primarily on current residual value appraisals. Rental revenue is recognized on a straight-line basis over the contractual term of the lease. A review for impairment of equipment under operating lease is performed at least annually or when events or changes in circumstances indicate that the carrying amount of long-lived assets may not be recoverable. Impairment of assets is determined by comparing the carrying amount to future undiscounted net cash flows expected to be generated. If an asset is impaired, the measure of impairment is the amount by which the carrying amount exceeds the fair value of the asset. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill Goodwill of $78 million at both December 31, 2018 and 2017 represents the excess of consideration transferred in business combinations over the fair value of net tangible and identifiable intangible assets acquired. Goodwill is not amortized, but is tested for impairment annually or more frequently if events or circumstances indicate that impairment may have occurred. The Company performs its annual goodwill impairment test in the third fiscal quarter. The Company has a single reporting unit. The impairment test compares the estimated fair value of the reporting unit to its carrying amount. If the fair value of the reporting unit exceeds its carrying amount, no impairment is indicated. If the fair value of the reporting unit is less than its carrying amount, impairment of goodwill is measured as the excess of the carrying amount over fair value. The estimated fair value of the reporting unit is based on the market capitalization of the Company's common stock. The estimated fair value of the reporting unit at each impairment testing date substantially exceeded its carrying amount; therefore, no impairment of goodwill was indicated. |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | Foreclosed Property and Repossessed Assets Foreclosed property and repossessed assets consists of real estate assets acquired through, or in lieu of, loan foreclosure and personal property acquired through repossession. Such assets are included in other assets in the accompanying consolidated balance sheets. These assets are held for sale and are initially recorded at estimated fair value less costs to sell, establishing a new cost basis. Subsequent to acquisition, periodic valuations are performed and the assets are carried at the lower of the carrying amount at the date of acquisition or estimated fair value less cost to sell. Significant property improvements are capitalized to the extent that the resulting carrying value does not exceed fair value less cost to sell. Legal fees, maintenance, taxes, insurance and other direct costs of holding and maintaining these assets are expensed as incurred. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation and amortization and are included in other assets in the accompanying consolidated balance sheets. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The lives of improvements to existing buildings are based on the lesser of the estimated remaining lives of the buildings or the estimated useful lives of the improvements. Leasehold improvements are amortized over the shorter of the expected terms of the leases at inception, considering options to extend that are reasonably assured, or their useful lives. The estimated useful lives of premises and equipment are as follows: • buildings and improvements - 30 years ; • leasehold improvements - 5 to 20 years ; • furniture, fixtures and equipment - 5 to 7 years ; and • computer equipment - 3 to 5 years . |
Software and CCA [Table Text Block] | Software and CCA Software and CCA are carried at cost less accumulated depreciation and amortization and are included in other assets in the accompanying consolidated balance sheets. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Direct costs of materials and services associated with developing or obtaining and implementing internal use computer software incurred during the application and development stage are capitalized and amortized over the estimated useful lives of the software. The estimated useful life of software, software licensing rights and CCA implementation costs range from 3 to 5 years . |
Transfers and Servicing of Financial Assets, Servicing of Financial Assets, Policy [Policy Text Block] | Loan Servicing Rights Loan servicing rights are measured at fair value, with changes in fair value subsequent to acquisition recognized in earnings. Loan servicing rights are included in other assets in the accompanying consolidated balance sheets. Servicing fee income is recorded net of changes in fair value in other non-interest income. Neither the loan servicing rights nor related income have had a material impact on the Company's financial statements to date. |
Investments in Affordable Housing Limited Partnerships [Policy Text Block] | Investments in Affordable Housing Limited Partnerships The Company has acquired investments in limited partnerships that manage or invest in qualified affordable housing projects and provide the Company with low-income housing tax credits and other tax benefits. These investments are included in other assets in the accompanying consolidated balance sheets. The Company accounts for investments in qualified affordable housing projects using the proportional amortization method if certain criteria are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received and the amortization is recognized in the income statement as a component of income tax expense. The investments are evaluated for impairment when events or changes in circumstances indicate that it is more likely than not that the carrying amount of the investment will not be realized. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for periods in which the differences are expected to reverse. The effect of changes in tax rates on deferred tax assets and liabilities are recognized in income in the period that includes the enactment date. A valuation allowance is established for deferred tax assets when management determines that it is more likely than not that some portion or all of a deferred tax asset will not be realized. In making such determinations, the Company considers all available positive and negative evidence that may impact the realization of deferred tax assets. These considerations include the amount of taxable income generated in statutory carryback periods, future reversals of existing taxable temporary differences, projected future taxable income and available tax planning strategies. The Company recognizes tax benefits from uncertain tax positions when it is more likely than not that the related tax positions will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the tax positions. An uncertain tax position is a position taken in a previously filed tax return or a position expected to be taken in a future tax return that is not based on clear and unambiguous tax law. The Company measures tax benefits related to uncertain tax positions based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. If the initial assessment fails to result in recognition of a tax benefit, the Company subsequently recognizes a tax benefit if (i) there are changes in tax law or case law that raise the likelihood of prevailing on the technical merits of the position to more-likely-than-not, (ii) the statute of limitations expires, or (iii) there is a completion of an examination resulting in a settlement of that tax year or position with the appropriate agency. The Company recognizes interest and penalties related to uncertain tax positions, as well as interest income or expense related to tax settlements, in the provision for income taxes. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Equity Based Compensation The Company periodically grants unvested or restricted shares of common stock and other share-based awards to key employees. For equity classified awards, compensation cost is measured based on the estimated fair value of the awards at the grant date and is recognized in earnings on a straight-line basis over the requisite service period for each award. Liability-classified awards are remeasured each reporting period at fair value until the award is settled, and compensation cost is recognized in earnings on a straight-line basis over the requisite service period for each award, adjusted for changes in fair value each reporting period. Compensation cost related to awards that embody performance conditions is recognized when it is probable that the performance conditions will be achieved. The number of awards expected to vest is estimated in determining the amount of compensation cost to be recognized related to share-based payment transactions. The fair value of unvested shares is based on the closing market price of the Company's common stock at the date of grant. Market conditions embedded in awards are reflected in the grant-date fair value of the awards. |
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments and Hedging Activities Interest rate derivative contracts The Company uses interest rate derivative contracts, such as swaps, caps, floors and collars, in the normal course of business to meet the financial needs of its customers and to manage exposure to changes in interest rates. Interest rate contracts are recorded as assets or liabilities in the consolidated balance sheets at fair value. Interest rate swaps that are used as a risk management tool to hedge the Company's exposure to changes in interest rates have been designated as cash flow hedging instruments. The gain or loss resulting from changes in the fair value of interest rate swaps designated and qualifying as cash flow hedging instruments is initially reported as a component of other comprehensive income and subsequently reclassified into earnings in the same period in which the hedged transaction affects earnings. The Company discontinues hedge accounting prospectively when it is determined that the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative expires or is sold, terminated, or exercised, management determines that the designation of the derivative as a hedging instrument is no longer appropriate or the occurrence of the forecasted transaction is no longer probable. When hedge accounting is discontinued, any subsequent changes in fair value of the derivative are recognized in earnings. The cumulative unrealized gain or loss related to a discontinued cash flow hedge continues to be reported in AOCI and is subsequently reclassified into earnings in the same period in which the hedged transaction affects earnings, unless it is probable that the forecasted transaction will not occur by the end of the originally specified time period, in which case the cumulative unrealized gain or loss reported in AOCI is reclassified into earnings immediately. Cash flows resulting from derivative financial instruments that are accounted for as hedges are classified in the cash flow statement in the same category as the cash flows from the hedged items. Changes in the fair value of interest rate contracts not designated as, or not qualifying as, hedging instruments are recognized currently in earnings. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Financings, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. A gain or loss is recognized in earnings upon completion of the sale based on the difference between the sales proceeds and the carrying value of the assets. Control over the transferred assets is deemed to have been surrendered when: (i) the assets have been legally isolated from the Company, (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs Advertising costs are expensed as incurred. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Common Share Basic earnings per common share is calculated by dividing income allocated to common stockholders for basic earnings per common share by the weighted average number of common shares outstanding for the period, reduced by average unvested stock awards. Unvested stock awards with non-forfeitable rights to dividends, whether paid or unpaid, and stand-alone dividend participation rights are considered participating securities and are included in the computation of basic earnings per common share using the two class method whereby net income is allocated between common stock and participating securities. In periods of a net loss, no allocation is made to participating securities as they are not contractually required to fund net losses. Diluted earnings per common share is computed by dividing income allocated to common stockholders for basic earnings per common share, adjusted for earnings reallocated from participating securities, by the weighted average number of common shares outstanding for the period increased for the dilutive effect of unexercised stock options, warrants and unvested stock awards using the treasury stock method. Contingently issuable shares are included in the calculation of earnings per common share as if the end of the respective period was the end of the contingency period. |
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. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain amounts presented for prior periods have been reclassified to conform to the current period presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements Adopted in 2018 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. 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. |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Accounting Pronouncements Not Yet Adopted 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 did not 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 has finalized 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. Relevant 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 December 31, 2018 and an incremental borrowing rate determined as of that date, the Company recognized a lease liability and related right-of-use asset of approximately $104 million and $95 million , respectively, on adoption at January 1, 2019. 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 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 a detailed implementation plan, established a formal governance structure for the project, documented accounting policy elections, selected and implemented credit loss models for key portfolio segments and in the process of completing model validations, chosen loss estimation methodologies for key portfolio segments, selected a software solution to serve as its CECL platform. The Company has also established an economic forecast committee, and is in the process of documenting processes and controls. 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. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except share and per share data): c 2018 2017 2016 Basic earnings per common share: Numerator: Net income $ 324,866 $ 614,273 $ 225,741 Distributed and undistributed earnings allocated to participating securities (13,047 ) (23,250 ) (8,760 ) Income allocated to common stockholders for basic earnings per common share $ 311,819 $ 591,023 $ 216,981 Denominator: Weighted average common shares outstanding 104,916,865 106,574,448 104,097,182 Less average unvested stock awards (1,171,994 ) (1,104,035 ) (1,157,378 ) Weighted average shares for basic earnings per common share 103,744,871 105,470,413 102,939,804 Basic earnings per common share $ 3.01 $ 5.60 $ 2.11 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 311,819 $ 591,023 $ 216,981 Adjustment for earnings reallocated from participating securities (195 ) (263 ) 62 Income used in calculating diluted earnings per common share $ 311,624 $ 590,760 $ 217,043 Denominator: Weighted average shares for basic earnings per common share 103,744,871 105,470,413 102,939,804 Dilutive effect of stock options 332,505 387,074 716,366 Weighted average shares for diluted earnings per common share 104,077,376 105,857,487 103,656,170 Diluted earnings per common share $ 2.99 $ 5.58 $ 2.09 |
Potentially Dilutive Securities Outstanding Categorized | The following potentially dilutive securities were outstanding at December 31, 2018 , 2017 and 2016 but excluded from the calculation of diluted earnings per common share for the periods indicated because their inclusion would have been anti-dilutive: 2018 2017 2016 Unvested shares and share units 1,463,607 1,431,761 1,303,208 Stock options and warrants 1,960 1,850,279 1,850,279 |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 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 portfolio consisted of the following at December 31, 2018 and 2017 (in thousands): 2018 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 39,885 $ 2 $ (14 ) $ 39,873 U.S. Government agency and sponsored enterprise residential MBS 1,885,302 16,580 (4,408 ) 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS 374,569 1,293 (1,075 ) 374,787 Private label residential MBS and CMOs 1,539,058 10,138 (14,998 ) 1,534,198 Private label commercial MBS 1,486,835 5,021 (6,140 ) 1,485,716 Single family rental real estate-backed securities 406,310 266 (4,118 ) 402,458 Collateralized loan obligations 1,239,355 1,060 (5,217 ) 1,235,198 Non-mortgage asset-backed securities 204,372 1,031 (1,336 ) 204,067 State and municipal obligations 398,810 3,684 (4,065 ) 398,429 SBA securities 514,765 6,502 (1,954 ) 519,313 Other debt securities 1,393 3,453 — 4,846 8,090,654 $ 49,030 $ (43,325 ) 8,096,359 Marketable equity securities 60,519 60,519 Investment securities held to maturity 10,000 10,000 $ 8,161,173 $ 8,166,878 2017 Amortized Cost Gross Unrealized Carrying Value (1) 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 Investment securities held to maturity 10,000 10,000 $ 6,597,786 $ 6,690,832 (1) At fair value except for securities held to maturity. |
Investments Classified by Contractual Maturity Date | At December 31, 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 $ 939,802 $ 942,507 Due after one year through five years 4,097,200 4,097,966 Due after five years through ten years 2,662,298 2,662,649 Due after ten years 391,354 393,237 $ 8,090,654 $ 8,096,359 |
Gain on Investment Securities, net | The following table provides information about gains and losses on investment securities for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 2017 2016 Proceeds from sale of investment securities available for sale $ 1,030,810 $ 1,287,591 $ 1,127,983 Gross realized gains: Investment securities available for sale $ 8,616 $ 37,530 $ 14,924 Gross realized losses: Investment securities available for sale (2,514 ) (4,064 ) — Net realized gain 6,102 33,466 14,924 Net unrealized losses on marketable equity securities recognized in earnings (2,943 ) — — OTTI on investment securities available for sale — — (463 ) Gain on investment securities, net $ 3,159 $ 33,466 $ 14,461 |
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 December 31, 2018 and 2017 (in thousands): 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 $ 14,921 $ (14 ) $ — $ — $ 14,921 $ (14 ) U.S. Government agency and sponsored enterprise residential MBS 450,666 (1,828 ) 87,311 (2,580 ) 537,977 (4,408 ) U.S. Government agency and sponsored enterprise commercial MBS 146,096 (352 ) 25,815 (723 ) 171,911 (1,075 ) Private label residential MBS and CMOs 759,921 (7,073 ) 278,108 (7,925 ) 1,038,029 (14,998 ) Private label commercial MBS 742,092 (5,371 ) 39,531 (769 ) 781,623 (6,140 ) Single family rental real estate-backed securities 234,305 (1,973 ) 85,282 (2,145 ) 319,587 (4,118 ) Collateralized loan obligations 749,047 (5,217 ) — — 749,047 (5,217 ) Non-mortgage asset-backed securities 136,100 (1,336 ) — — 136,100 (1,336 ) State and municipal obligations 208,971 (3,522 ) 46,247 (543 ) 255,218 (4,065 ) SBA securities 215,975 (1,391 ) 31,481 (563 ) 247,456 (1,954 ) $ 3,658,094 $ (28,077 ) $ 593,775 $ (15,248 ) $ 4,251,869 $ (43,325 ) 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) | 12 Months Ended |
Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |
Allowance for Loan and Lease Losses Rolforward [Table Text Block] | Activity in the ALLL for the years ended December 31, 2018 , 2017 and 2016 is summarized in the tables below (in thousands): 2018 Residential and Other Consumer Commercial Total Beginning balance $ 10,720 $ 134,075 $ 144,795 Provision for loan losses: Covered loans 752 — 752 Non-covered loans 280 24,893 25,173 Total provision 1,032 24,893 25,925 Charge-offs: Covered loans (1,200 ) — (1,200 ) Non-covered loans (265 ) (65,619 ) (65,884 ) Total charge-offs (1,465 ) (65,619 ) (67,084 ) Recoveries: Covered loans 220 — 220 Non-covered loans 281 5,794 6,075 Total recoveries 501 5,794 6,295 Ending balance $ 10,788 $ 99,143 $ 109,931 2017 Residential and Other Consumer Commercial Total Beginning balance $ 11,503 $ 141,450 $ 152,953 Provision for (recovery of) loan losses: Covered loans 1,418 (60 ) 1,358 Non-covered loans 1,034 66,355 67,389 Total provision 2,452 66,295 68,747 Charge-offs: Covered loans (3,327 ) — (3,327 ) Non-covered loans (1 ) (77,865 ) (77,866 ) Total charge-offs (3,328 ) (77,865 ) (81,193 ) Recoveries: Covered loans 67 60 127 Non-covered loans 26 4,135 4,161 Total recoveries 93 4,195 4,288 Ending balance $ 10,720 $ 134,075 $ 144,795 2016 Residential and Other Consumer Commercial Total Beginning balance $ 16,211 $ 109,617 $ 125,828 Provision for (recovery of) loan losses: Covered loans (1,632 ) (49 ) (1,681 ) Non-covered loans (1,814 ) 54,406 52,592 Total provision (3,446 ) 54,357 50,911 Charge-offs: Covered loans (1,216 ) — (1,216 ) Non-covered loans (152 ) (25,742 ) (25,894 ) Total charge-offs (1,368 ) (25,742 ) (27,110 ) Recoveries: Covered loans 80 49 129 Non-covered loans 26 3,169 3,195 Total recoveries 106 3,218 3,324 Ending balance $ 11,503 $ 141,450 $ 152,953 |
Allowance for Credit Losses on Financing Receivables | The following table presents information about the balance of the ALLL and related loans as of December 31, 2018 and 2017 (in thousands): 2018 2017 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Allowance for loan and lease losses: Ending balance $ 10,788 $ 99,143 $ 109,931 $ 10,720 $ 134,075 $ 144,795 Covered loans: Ending balance $ 30 $ — $ 30 $ 258 $ — $ 258 Ending balance: non-ACI loans individually evaluated for impairment $ — $ — $ — $ 118 $ — $ 118 Ending balance: non-ACI loans collectively evaluated for impairment $ 30 $ — $ 30 $ 140 $ — $ 140 Non-covered loans: Ending balance $ 10,758 $ 99,143 $ 109,901 $ 10,462 $ 134,075 $ 144,537 Ending balance: loans individually evaluated for impairment $ 134 $ 12,143 $ 12,277 $ 63 $ 18,776 $ 18,839 Ending balance: loans collectively evaluated for impairment $ 10,624 $ 87,000 $ 97,624 $ 10,399 $ 115,299 $ 125,698 Loans: Covered loans: Ending balance $ 201,376 $ — $ 201,376 $ 503,118 $ — $ 503,118 Ending balance: non-ACI loans individually evaluated for impairment $ — $ — $ — $ 2,221 $ — $ 2,221 Ending balance: non-ACI loans collectively evaluated for impairment $ 11,153 $ — $ 11,153 $ 21,829 $ — $ 21,829 Ending balance: ACI loans $ 190,223 $ — $ 190,223 $ 479,068 $ — $ 479,068 Non-covered loans: Ending balance $ 4,747,604 $ 17,028,028 $ 21,775,632 $ 4,196,080 $ 16,717,306 $ 20,913,386 Ending balance: loans, other than ACI loans, individually evaluated for impairment $ 7,690 $ 108,841 $ 116,531 $ 1,234 $ 173,706 $ 174,940 Ending balance: loans, other than ACI loans, collectively evaluated for impairment $ 4,739,914 $ 16,901,262 $ 21,641,176 $ 4,194,846 $ 16,509,824 $ 20,704,670 Ending balance: ACI loans $ — $ 17,925 $ 17,925 $ — $ 33,776 $ 33,776 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | As of December 31, 2018 , future minimum lease payments to be received under direct financing leases were as follows (in thousands): Years Ending December 31: 2019 $ 197,004 2020 169,437 2021 109,057 2022 69,242 2023 56,312 Thereafter 207,869 $ 808,921 |
Concentration Risk Disclosure [Text Block] | Loan Concentrations: At December 31, 2018 and 2017 , 1-4 single family residential loans outstanding, excluding government insured residential loans, were collateralized by property located in the following states (dollars in thousands): 2018 Percent of Total Non-Covered Loans Covered Loans Total Non-Covered Loans Total Loans California $ 1,172,470 $ 4,751 $ 1,177,221 26.3 % 25.2 % New York 971,121 6,025 977,146 21.8 % 20.9 % Florida 520,427 124,593 645,020 11.7 % 13.8 % DC 182,399 812 183,211 4.1 % 3.9 % Virginia 179,132 5,624 184,756 4.0 % 4.0 % Others 1,437,995 59,571 1,497,566 32.1 % 32.2 % $ 4,463,544 $ 201,376 $ 4,664,920 100.0 % 100.0 % 2017 Percent of Total Non-Covered Loans Covered Loans Total Non-Covered Loans Total Loans California $ 1,094,047 $ 23,780 $ 1,117,827 26.4 % 24.0 % New York 871,331 16,847 888,178 21.0 % 19.1 % Florida 526,540 281,396 807,936 12.7 % 17.4 % Virginia 181,912 22,290 204,202 4.4 % 4.4 % DC 169,502 1,933 171,435 4.1 % 3.7 % Others 1,302,547 156,872 1,459,419 31.4 % 31.4 % $ 4,145,879 $ 503,118 $ 4,648,997 100.0 % 100.0 % No other state represented borrowers with more than 4.0% of total 1-4 single family residential loans outstanding, excluding government insured residential loans, at December 31, 2018 or 2017 . At December 31, 2018 , 44.8% and 32.5% of loans in the commercial portfolio were to borrowers in Florida and the New York tri-state area, respectively. At December 31, 2017 , 43.4% and 36.4% of loans in the non-covered commercial portfolio were to borrowers in Florida and the New York tri-state area, respectively. Foreclosure of residential real estate |
Past Due Financing Receivables [Table Text Block] | The following table presents an aging of loans as of December 31, 2018 and 2017 . Amounts include premiums, discounts and deferred fees and costs (in thousands): 2018 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 $ 4,440,061 $ 14,736 $ 1,838 $ 6,909 $ 4,463,544 $ 4,121,624 $ 15,613 $ 4,941 $ 3,701 $ 4,145,879 Government insured residential 31,348 8,342 8,871 218,168 266,729 23,455 1,611 1,153 1,855 28,074 Home equity loans and lines of credit 1,393 — — — 1,393 1,633 21 — — 1,654 Other consumer loans 15,947 — — — 15,947 19,958 15 — 500 20,473 Multi-family 2,585,421 — — — 2,585,421 3,218,953 — — — 3,218,953 Non-owner occupied commercial real estate 4,682,443 3,621 1,374 1,442 4,688,880 4,464,967 7,549 — 2,285 4,474,801 Construction and land 224,828 916 — 1,096 226,840 309,309 — — 1,175 310,484 Owner occupied commercial real estate 2,106,104 2,826 1,087 9,863 2,119,880 2,004,397 1,292 499 6,554 2,012,742 Commercial and industrial Taxi medallion loans 155 — — 620 775 88,394 6,048 3,333 8,292 106,067 Other commercial and industrial 4,772,823 6,732 926 8,944 4,789,425 4,025,784 4,291 291 1,394 4,031,760 Commercial lending subsidiaries Pinnacle 1,462,655 — — — 1,462,655 1,524,622 — — — 1,524,622 Bridge 1,152,312 603 — 1,228 1,154,143 1,037,025 852 — — 1,037,877 $ 21,475,490 $ 37,776 $ 14,096 $ 248,270 $ 21,775,632 $ 20,840,121 $ 37,292 $ 10,217 $ 25,756 $ 20,913,386 Covered loans: Non-ACI loans: 1-4 single family residential $ 11,153 $ — $ — $ — $ 11,153 $ 21,106 $ 1,603 $ — $ 1,341 $ 24,050 ACI loans: 1-4 single family residential $ 189,557 $ 334 $ 288 $ 44 $ 190,223 $ 448,125 $ 10,388 $ 2,719 $ 17,836 $ 479,068 |
Schedule of Loans Categorized | oans consisted of the following (dollars in thousands): 2018 Covered Loans Percent of Total Non-Covered Loans ACI Non-ACI Total Residential and other consumer: 1-4 single family residential $ 4,404,047 $ 190,223 $ 12,558 $ 4,606,828 21.0 % Government insured residential 265,701 — — 265,701 1.2 % Home equity loans and lines of credit 1,393 — — 1,393 — % Other consumer loans 15,976 — — 15,976 0.1 % 4,687,117 190,223 12,558 4,889,898 22.3 % Commercial: Multi-family 2,583,331 — — 2,583,331 11.8 % Non-owner occupied commercial real estate 4,700,188 — — 4,700,188 21.4 % Construction and land 227,134 — — 227,134 1.0 % Owner occupied commercial real estate 2,122,381 — — 2,122,381 9.7 % Commercial and industrial 4,801,226 — — 4,801,226 21.9 % Commercial lending subsidiaries 2,608,834 — — 2,608,834 11.9 % 17,043,094 — — 17,043,094 77.7 % Total loans 21,730,211 190,223 12,558 21,932,992 100.0 % Premiums, discounts and deferred fees and costs, net 45,421 — (1,405 ) 44,016 Loans including premiums, discounts and deferred fees and costs 21,775,632 190,223 11,153 21,977,008 Allowance for loan and lease losses (109,901 ) — (30 ) (109,931 ) Loans, net $ 21,665,731 $ 190,223 $ 11,123 $ 21,867,077 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 |
Covered Loan Sales - Residential [Table Text Block] | Covered loans Covered loans with UPB totaling $401 million and a carrying value of $201 million as of December 31, 2018 were retained in portfolio. During the years ended December 31, 2018 , 2017 and 2016 , 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): 2018 2017 2016 UPB of loans sold $ 539,853 $ 203,970 $ 241,348 Cash proceeds, net of transaction costs $ 488,972 $ 169,828 $ 171,367 Recorded investment in loans sold 483,240 152,422 185,837 Gain (loss) on sale of covered loans, net $ 5,732 $ 17,406 $ (14,470 ) Gain (loss) on FDIC indemnification, net $ 3,388 $ (1,523 ) $ 11,615 |
Accretable Yield Rollfoward [Table Text Block] | At December 31, 2018 and 2017 , the UPB of ACI loans was $408 million 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 years ended December 31, 2018 , 2017 and 2016 were as follows (in thousands): Balance at December 31, 2015 $ 902,565 Reclassifications from non-accretable difference 76,751 Accretion (303,931 ) 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 128,499 Accretion (369,915 ) Other changes, net (1) 78,204 Balance at December 31, 2018 $ 291,847 (1) Represents changes in cash flows expected to be collected due to the impact of changes in prepayment assumptions. |
Impaired Financing Receivables | The table below presents information about loans or ACI pools identified as impaired as of December 31, 2018 and 2017 (in thousands): 2018 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) $ 5,724 $ 5,605 $ — $ 120 $ 122 $ — Multi-family 25,560 25,592 — — — — Non-owner occupied commercial real estate 12,293 12,209 — 10,922 10,838 — Construction and land 9,923 9,925 — 1,175 1,175 — Owner occupied commercial real estate 9,007 9,024 — 22,002 22,025 — Commercial and industrial Taxi medallion loans 775 775 — 13,560 13,559 — Other commercial and industrial 12,739 12,744 — 345 374 — Commercial lending subsidiaries 3,152 3,149 — — — — With a specific allowance recorded: 1-4 single family residential (1) 1,966 1,941 134 1,114 1,090 63 Multi-family — — — 23,173 23,175 1,732 Owner occupied commercial real estate 3,316 3,322 844 3,075 3,079 2,960 Non-owner occupied commercial real estate 1,666 1,667 731 — — — Commercial and industrial Taxi medallion loans — — — 92,507 92,508 12,214 Other commercial and industrial 10,939 10,946 3,831 3,626 3,624 1,540 Commercial lending subsidiaries 19,471 19,385 6,737 3,321 3,296 330 Total: Residential and other consumer $ 7,690 $ 7,546 $ 134 $ 1,234 $ 1,212 $ 63 Commercial 108,841 108,738 12,143 173,706 173,653 18,776 $ 116,531 $ 116,284 $ 12,277 $ 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 — — — 1,160 1,314 118 $ — $ — $ — $ 2,221 $ 2,517 $ 118 (1) Includes government insured residential loans at December 31, 2018 and 2017 . Interest income recognized on impaired loans and pools was insignificant for the year ended December 31, 2018 and approximately $9.6 million for the year ended December 31, 2017 . The following table presents the average recorded investment in impaired loans for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 2017 2016 Non-Covered Loans Covered Non-ACI Loans Non-Covered Loans Covered Non-ACI Non-Covered Loans Covered Non-ACI Residential and other consumer: 1-4 single family residential $ 4,910 $ 1,743 $ 868 $ 2,345 $ 301 $ 3,067 Home equity loans and lines of credit — — — 8,403 — 9,225 4,910 $ 1,743 868 $ 10,748 301 $ 12,292 Commercial: Multi-family 25,679 4,259 — Non-owner occupied commercial real estate 14,106 5,537 710 Construction and land 6,551 2,789 797 Owner occupied commercial real estate 16,207 19,882 14,645 Commercial and industrial Taxi medallion loans 79,786 108,977 45,012 Other commercial and industrial 17,602 38,275 40,443 Commercial lending subsidiaries 9,757 22,865 15,052 169,688 202,584 116,659 $ 174,598 $ 203,452 $ 116,960 In addition to the above, a pool of ACI home equity loans and lines of credit was impaired during 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 year ended December 31, 2017 was $3.9 million . |
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 December 31, 2018 and 2017 (in thousands): 2018 2017 Non-Covered Loans Covered Non-Covered Loans Covered Non-ACI Loans Residential and other consumer: 1-4 single family residential $ 6,316 $ — $ 9,705 $ 1,341 Other consumer loans 288 — 821 — 6,604 $ — 10,526 $ 1,341 Commercial: Multi-family 25,560 — Non-owner occupied commercial real estate 16,050 12,716 Construction and land 9,923 1,175 Owner occupied commercial real estate 19,789 29,020 Commercial and industrial Taxi medallion loans 775 106,067 Other commercial and industrial 27,809 7,049 Commercial lending subsidiaries 22,733 3,512 122,639 159,539 $ 129,243 $ 170,065 |
Financing Receivable Credit Quality Indicators | The following tables summarize key indicators of credit quality for the Company's loans as of December 31, 2018 and 2017 . 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: 2018 FICO LTV 720 or less 721 - 740 741 - 760 761 or Total 60% or less $ 105,812 $ 123,877 $ 197,492 $ 813,944 $ 1,241,125 60% - 70% 120,982 109,207 170,531 597,659 998,379 70% - 80% 156,519 203,121 374,311 1,264,491 1,998,442 More than 80% 17,352 35,036 36,723 136,487 225,598 $ 400,665 $ 471,241 $ 779,057 $ 2,812,581 $ 4,463,544 2017 FICO LTV 720 or less 721 - 740 741 - 760 761 or 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: 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 $ 2,547,835 $ 4,611,029 $ 216,917 $ 2,077,611 $ — $ 4,706,666 $ 1,462,655 $ 1,105,821 $ 16,728,534 Special mention 2,932 16,516 — 13,368 — 38,097 — 10,157 81,070 Substandard 34,654 61,335 9,923 28,901 775 42,916 — 31,522 210,026 Doubtful — — — — — 1,746 — 6,643 8,389 $ 2,585,421 $ 4,688,880 $ 226,840 $ 2,119,880 $ 775 $ 4,789,425 $ 1,462,655 $ 1,154,143 $ 17,028,019 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 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following tables summarize loans that were modified in TDRs during the years ended December 31, 2018 , 2017 and 2016 , as well as loans modified during the years ended December 31, 2018 , 2017 and 2016 that experienced payment defaults during the periods (dollars in thousands): 2018 Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential (1) 36 $ 6,462 18 $ 2,489 Non-owner occupied commercial real estate 3 5,932 1 2,949 Owner occupied commercial real estate 2 1,076 — — Commercial and industrial 6 6,646 2 217 47 $ 20,116 21 $ 5,655 2017 Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential 7 $ 676 5 $ 595 Multi-family 2 23,173 — — Owner occupied commercial real estate 3 4,685 — — Commercial and industrial Taxi medallion loans 110 48,526 8 2,725 Other commercial and industrial 2 1,378 — — 124 $ 78,438 13 $ 3,320 2016 Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Non-covered loans: 1-4 single family residential 2 $ 326 — $ — Owner occupied commercial real estate 3 5,117 1 491 Commercial and industrial Taxi medallion loans 74 64,854 15 8,657 Other commercial and industrial 8 23,247 2 1,482 Commercial lending subsidiaries 6 6,735 1 2,500 93 $ 100,279 19 $ 13,130 Covered loans: Non-ACI loans: Home equity loans and lines of credit 17 $ 2,016 1 $ 370 ACI loans: Owner occupied commercial real estate 1 $ 825 — $ — (1) Includes government insured residential loans modified during the year ended December 31, 2018 . |
FDIC Indemnification Asset (Tab
FDIC Indemnification Asset (Tables) | 12 Months Ended |
Dec. 31, 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 years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 Transaction Net Loss on FDIC Net Impact Provision for losses on covered loans $ (752 ) $ 523 $ (229 ) Income from resolution of covered assets, net 11,551 (9,332 ) 2,219 Gain on sale of covered loans 5,732 3,388 9,120 Loss on covered OREO (1,620 ) 1,222 (398 ) $ 14,911 $ (4,199 ) $ 10,712 2017 Transaction Net Loss on FDIC Net Impact Provision for losses on covered loans $ (1,358 ) $ 1,039 $ (319 ) Income from resolution of covered assets, net 27,450 (21,912 ) 5,538 Gain on sale of covered loans 17,406 (1,514 ) 15,892 Loss on covered OREO (203 ) 167 (36 ) $ 43,295 $ (22,220 ) $ 21,075 2016 Transaction Net Loss on FDIC Net Impact Recovery of losses on covered loans $ 1,681 $ (1,472 ) $ 209 Income from resolution of covered assets, net 36,155 (28,946 ) 7,209 Loss on sale of covered loans (14,470 ) 11,615 (2,855 ) Loss on covered OREO (1,301 ) 1,044 (257 ) $ 22,065 $ (17,759 ) $ 4,306 |
Changes in the FDIC Indemnification Asset | Changes in the FDIC indemnification asset for the years ended December 31, 2018 , 2017 and 2016 , were as follows (in thousands): Balance at December 31, 2015 $ 739,843 Amortization (160,091 ) Reduction for claims filed (46,083 ) Net loss on FDIC indemnification (17,759 ) 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 (261,763 ) Reduction for claims (29,673 ) Net loss on FDIC indemnification (4,199 ) Balance at December 31, 2018 $ — |
Equipment Under Operating Lea_2
Equipment Under Operating Lease (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
Schedule of Property Subject to or Available for Operating Lease [Table Text Block] | Equipment under operating lease consists primarily of railcars and other transportation equipment. The components of equipment under operating lease as of December 31, 2018 and 2017 , are summarized as follows (in thousands): 2018 2017 Equipment under operating lease $ 802,302 $ 674,434 Less: accumulated depreciation (99,948 ) (74,932 ) Equipment under operating lease, net $ 702,354 $ 599,502 The Company recognized impairment of $4.1 million during the year ended December 31, 2016 , related to a group of tank cars impacted by new safety regulations. This impairment charge is included in " Depreciation of equipment under operating lease " in the accompanying consolidated statements of income. No impairment was recognized during the years ended December 31, 2018 and 2017 . |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | At December 31, 2018 , scheduled minimum rental payments under operating leases were as follows (in thousands): Years Ending December 31: 2019 $ 65,201 2020 59,512 2021 49,987 2022 43,482 2023 35,342 Thereafter through 2033 100,170 $ 353,694 |
Premises and Equipment and Leas
Premises and Equipment and Lease Commitments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment, Type [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Premises and Equipment, Lease Commitments, Software and CCA Premises and equipment are included in other assets in the accompanying consolidated balance sheets and are summarized as follows as of December 31, 2018 and 2017 (in thousands): 2018 2017 Buildings and improvements $ 18,793 $ 18,793 Leasehold improvements 69,651 70,298 Furniture, fixtures and equipment 36,581 35,675 Computer equipment 22,218 21,078 Software and software licensing rights 47,653 42,908 Aircraft and automobiles 11,614 11,744 Capitalized implementation costs of CCA 879 — 207,389 200,496 Less: accumulated depreciation (135,743 ) (121,477 ) Premises and equipment, net $ 71,646 $ 79,019 Buildings and improvements includes $11 million related to property under capital lease at both December 31, 2018 and 2017 . Depreciation and amortization expense related to premises and equipment, including amortization of assets recorded under capital leases, was $18.5 million , $19.4 million and $21.3 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The Company leases branch and office facilities under operating leases, most of which contain renewal options under various terms. Total rent expense under operating leases for the years ended December 31, 2018 , 2017 and 2016 was $26.0 million , $27.5 million , and $27.6 million , respectively. As of December 31, 2018 , future minimum rentals under non-cancelable operating leases with initial or remaining terms in excess of one year were as follows (in thousands): Years ending December 31: 2019 $ 21,207 2020 17,629 2021 15,858 2022 12,114 2023 10,311 Thereafter through 2034 42,984 $ 120,103 |
Property, Plant and Equipment [Table Text Block] | Premises and Equipment, Lease Commitments, Software and CCA Premises and equipment are included in other assets in the accompanying consolidated balance sheets and are summarized as follows as of December 31, 2018 and 2017 (in thousands): 2018 2017 Buildings and improvements $ 18,793 $ 18,793 Leasehold improvements 69,651 70,298 Furniture, fixtures and equipment 36,581 35,675 Computer equipment 22,218 21,078 Software and software licensing rights 47,653 42,908 Aircraft and automobiles 11,614 11,744 Capitalized implementation costs of CCA 879 — 207,389 200,496 Less: accumulated depreciation (135,743 ) (121,477 ) Premises and equipment, net $ 71,646 $ 79,019 Buildings and improvements includes $11 million related to property under capital lease at both December 31, 2018 and 2017 . Depreciation and amortization expense related to premises and equipment, including amortization of assets recorded under capital leases, was $18.5 million , $19.4 million and $21.3 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The Company leases branch and office facilities under operating leases, most of which contain renewal options under various terms. Total rent expense under operating leases for the years ended December 31, 2018 , 2017 and 2016 was $26.0 million , $27.5 million , and $27.6 million , respectively. |
Premises and Equipment and Lease Commitments | As of December 31, 2018 , future minimum rentals under non-cancelable operating leases with initial or remaining terms in excess of one year were as follows (in thousands): Years ending December 31: 2019 $ 21,207 2020 17,629 2021 15,858 2022 12,114 2023 10,311 Thereafter through 2034 42,984 $ 120,103 |
Deposits Deposits (Tables)
Deposits Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Summary of Average Balances and Weighted Average Rates Paid on Deposits | The following table presents average balances and weighted average rates paid on deposits for the years ended December 31, 2018 , 2017 and 2016 (dollars in thousands): 2018 2017 2016 Average Balance Average Rate Paid Average Balance Average Average Balance Average Demand deposits: Non-interest bearing $ 3,389,191 — % $ 3,069,565 — % $ 2,968,192 — % Interest bearing 1,627,828 1.13 % 1,586,390 0.81 % 1,382,717 0.60 % Money market 10,350,772 1.41 % 9,364,498 0.85 % 7,946,447 0.64 % Savings 284,198 0.26 % 365,603 0.21 % 415,205 0.23 % Time 6,617,006 1.81 % 6,094,336 1.27 % 5,326,630 1.12 % $ 22,268,995 1.28 % $ 20,480,392 0.83 % $ 18,039,191 0.66 % |
Deposit Liabilities Disclosures [Text Block] | Deposits The following table presents average balances and weighted average rates paid on deposits for the years ended December 31, 2018 , 2017 and 2016 (dollars in thousands): 2018 2017 2016 Average Balance Average Rate Paid Average Balance Average Average Balance Average Demand deposits: Non-interest bearing $ 3,389,191 — % $ 3,069,565 — % $ 2,968,192 — % Interest bearing 1,627,828 1.13 % 1,586,390 0.81 % 1,382,717 0.60 % Money market 10,350,772 1.41 % 9,364,498 0.85 % 7,946,447 0.64 % Savings 284,198 0.26 % 365,603 0.21 % 415,205 0.23 % Time 6,617,006 1.81 % 6,094,336 1.27 % 5,326,630 1.12 % $ 22,268,995 1.28 % $ 20,480,392 0.83 % $ 18,039,191 0.66 % Time deposit accounts with balances of $100,000 or more totaled approximately $4.1 billion at both December 31, 2018 and 2017 . Time deposit accounts with balances of $250,000 or more totaled $2.4 billion and $2.3 billion at December 31, 2018 and 2017 , respectively. The following table presents maturities of time deposits as of December 31, 2018 (in thousands): Maturing in: 2019 $ 5,119,279 2020 1,533,117 2021 94,973 2022 22,316 2023 50,073 $ 6,819,758 Included in deposits at December 31, 2018 are public funds deposits of $2.6 billion and brokered deposits of $2.5 billion . Investment securities available for sale with a carrying value of $1.3 billion were pledged as security for public funds deposits at December 31, 2018 . Interest expense on deposits for the years ended December 31, 2018 , 2017 and 2016 was as follows (in thousands): 2018 2017 2016 Interest bearing demand $ 18,391 $ 12,873 $ 8,343 Money market 145,585 79,645 50,802 Savings 739 752 972 Time 119,848 77,663 59,656 $ 284,563 $ 170,933 $ 119,773 |
Maturities of Time Deposits [Table Text Block] | The following table presents maturities of time deposits as of December 31, 2018 (in thousands): Maturing in: 2019 $ 5,119,279 2020 1,533,117 2021 94,973 2022 22,316 2023 50,073 $ 6,819,758 |
Schedule of Interest Expense on Deposits | Interest expense on deposits for the years ended December 31, 2018 , 2017 and 2016 was as follows (in thousands): 2018 2017 2016 Interest bearing demand $ 18,391 $ 12,873 $ 8,343 Money market 145,585 79,645 50,802 Savings 739 752 972 Time 119,848 77,663 59,656 $ 284,563 $ 170,933 $ 119,773 |
Federal Home Loan Bank Advanc_2
Federal Home Loan Bank Advances and Other Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
FHLB Advances, Notes and Other Borrowings [Abstract] | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | The following table presents information about outstanding FHLB advances as of December 31, 2018 (dollars in thousands): Range of Interest Rates Amount Minimum Maximum Weighted Average Rate Maturing in: 2019—One month or less $ 2,325,000 2.24 % 2.53 % 2.41 % 2019—Over one month 1,821,000 1.46 % 2.76 % 2.58 % 2020 375,000 1.67 % 2.91 % 2.49 % 2021 275,000 2.73 % 3.02 % 2.89 % Carrying value $ 4,796,000 |
Schedule of Debt [Table Text Block] | At December 31, 2018 and 2017 outstanding senior notes payable and other borrowings consisted of the following (dollars in thousands): 2018 2017 Principal amount of 4.875% senior notes $ 400,000 $ 400,000 Unamortized discount and debt issuance costs (5,610 ) (6,275 ) 394,390 393,725 Capital lease obligations 8,359 9,105 $ 402,749 $ 402,830 |
Federal Home Loan Bank Advanc_3
Federal Home Loan Bank Advances, Notes and Other Borrowings Notes payable and other borrowings table (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | The following table presents information about outstanding FHLB advances as of December 31, 2018 (dollars in thousands): Range of Interest Rates Amount Minimum Maximum Weighted Average Rate Maturing in: 2019—One month or less $ 2,325,000 2.24 % 2.53 % 2.41 % 2019—Over one month 1,821,000 1.46 % 2.76 % 2.58 % 2020 375,000 1.67 % 2.91 % 2.49 % 2021 275,000 2.73 % 3.02 % 2.89 % Carrying value $ 4,796,000 |
Schedule of Debt [Table Text Block] | At December 31, 2018 and 2017 outstanding senior notes payable and other borrowings consisted of the following (dollars in thousands): 2018 2017 Principal amount of 4.875% senior notes $ 400,000 $ 400,000 Unamortized discount and debt issuance costs (5,610 ) (6,275 ) 394,390 393,725 Capital lease obligations 8,359 9,105 $ 402,749 $ 402,830 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2018 and 2017 (dollars in thousands): 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 2.38% 3-Month Libor 4.0 $ 2,846,000 Other assets / Other liabilities $ 3,405 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 4.10% Indexed to 1-month Libor 6.0 1,048,196 Other assets / Other liabilities 14,883 (6,991 ) Pay-variable interest rate swaps Indexed to 1-month Libor 4.10% 6.0 1,048,196 Other assets / Other liabilities 11,318 (16,874 ) Interest rate caps purchased, indexed to 1-month Libor 3.43% 1.2 98,407 Other assets 9 — Interest rate caps sold, indexed to 1-month Libor 3.43% 1.2 98,407 Other liabilities — (9 ) $ 5,139,206 $ 29,615 $ (23,874 ) 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 years ended December 31, 2018 , 2017 and 2016 (dollars in thousands): 2018 2017 2016 Location of Gain (Loss) Reclassified from AOCI into Income Interest rate contracts $ 1,999 $ (9,621 ) $ (16,161 ) 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 December 31, 2018 and 2017 (in thousands): 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 $ 18,297 $ — $ 18,297 $ (5,264 ) $ (13,129 ) $ (96 ) Derivative liabilities (6,991 ) — (6,991 ) 5,264 436 (1,291 ) $ 11,306 $ — $ 11,306 $ — $ (12,693 ) $ (1,387 ) 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) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Schedule of Changes in AOCI | Changes in other comprehensive income are summarized as follows for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding loss arising during the period $ (77,607 ) $ 20,566 $ (57,041 ) Amounts reclassified to gain on investment securities available for sale, net (6,103 ) 1,617 (4,486 ) Net change in unrealized gains on investment securities available for sale (83,710 ) 22,183 (61,527 ) Unrealized losses on derivative instruments: Net unrealized holding gain arising during the period 5,416 (1,435 ) 3,981 Amounts reclassified to interest expense on borrowings (1,999 ) 530 (1,469 ) Net change in unrealized losses on derivative instruments 3,417 (905 ) 2,512 Other comprehensive loss $ (80,293 ) $ 21,278 $ (59,015 ) 2017 Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain arising during the period $ 49,131 $ (19,407 ) $ 29,724 Amounts reclassified to gain on investment securities available for sale, net (33,466 ) 13,219 (20,247 ) Net change in unrealized gains on investment securities available for sale 15,665 (6,188 ) 9,477 Unrealized losses on derivative instruments: Net unrealized holding loss arising during the period (2,577 ) 1,018 (1,559 ) Amounts reclassified to interest expense on borrowings 9,621 (3,800 ) 5,821 Net change in unrealized losses on derivative instruments 7,044 (2,782 ) 4,262 Other comprehensive income $ 22,709 $ (8,970 ) $ 13,739 2016 Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain arising during the period $ 23,588 $ (9,317 ) $ 14,271 Amounts reclassified to gain on investment securities available for sale, net (14,461 ) 5,712 (8,749 ) Net change in unrealized gains on investment securities available for sale 9,127 (3,605 ) 5,522 Unrealized losses on derivative instruments: Net unrealized holding gain arising during the period 6,225 (2,459 ) 3,766 Amounts reclassified to interest expense on borrowings 16,161 (6,384 ) 9,777 Net change in unrealized losses on derivative instruments 22,386 (8,843 ) 13,543 Other comprehensive income $ 31,513 $ (12,448 ) $ 19,065 |
Schedule of the Categories of AOCI and Changes Therein | The categories of AOCI and changes therein are presented below for the years ended December 31, 2018 , 2017 and 2016 (in thousands): Unrealized Gain (Loss) on Investment Securities Available for Sale Unrealized Gain (Loss) on Derivative Instruments Total Balance at December 31, 2015 $ 41,535 $ (19,353 ) $ 22,182 Other comprehensive income 5,522 13,543 19,065 Balance at December 31, 2016 $ 47,057 $ (5,810 ) $ 41,247 Other comprehensive income 9,477 4,262 13,739 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 (61,527 ) 2,512 (59,015 ) Balance at December 31, 2018 $ 4,194 $ 679 $ 4,873 |
Equity Based Compensation (Tabl
Equity Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | There were no option awards granted during the years ended December 31, 2018 , 2017 and 2016 . Additional information about options outstanding and exercisable at December 31, 2018 is presented in the following table: Outstanding and Exercisable Options Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) $11.14 3,910 0.73 $ 74 $15.94 - $19.97 29,145 1.59 357 $22.18 - $22.31 40,917 2.42 314 $27 888,908 2.08 2,613 $63.74 1,960 0.18 — 964,840 2.07 3,358 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Compensation Expense Related to Equity Based Awards The following table summarizes compensation cost related to equity based awards for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 2017 2016 Compensation cost of equity based awards: Unvested and restricted share awards $ 19,415 $ 18,087 $ 16,885 Executive share-based awards 3,027 3,416 1,482 Incentive awards 798 1,289 — Total compensation cost of equity based awards 23,240 22,792 18,367 Related tax benefits (5,783 ) (8,576 ) (6,899 ) Compensation cost of equity based awards, net of tax $ 17,457 $ 14,216 $ 11,468 |
Schedule of Other Share-based Compensation, Activity [Table Text Block] | A summary of activity related to executive share-based awards for the years ended December 31, 2018 , 2017 and 2016 follows: RSU PSU Unvested executive share-based awards outstanding, December 31, 2015 — — Granted 97,852 57,873 Vested (19,291 ) — Unvested executive share-based awards outstanding, December 31, 2016 78,561 57,873 Granted 47,848 47,848 Vested (35,238 ) — Unvested executive share-based awards outstanding, December 31, 2017 91,171 105,721 Granted 52,026 52,026 Vested (52,585 ) (57,873 ) Unvested executive share-based awards outstanding, December 31, 2018 90,612 99,874 The total liability for the share units was $5.5 million at December 31, 2018 . The total unrecognized compensation cost of $3.9 million for these share units at December 31, 2018 will be recognized over a weighted average remaining period of 1.78 years . |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Note 13 Equity Based and Other Compensation Plans Description of Equity Based Compensation Plans In connection with the IPO of the Company's common stock in 2011, the Company adopted the 2010 Plan. In 2014, the Board of Directors and the Company's stockholders approved the 2014 Plan. The 2010 Plan and 2014 Plans are administered by the Board of Directors or a committee thereof and provide for the grant of non-qualified stock options, SARs, restricted shares, deferred shares, performance shares, unrestricted shares and other share-based awards to selected employees, directors or independent contractors of the Company and its affiliates. The number of shares of common stock authorized for award under the 2010 Plan is 7,500,000 , of which 118,847 shares remain available for issuance as of December 31, 2018 . The number of shares of common stock available for issuance under the 2014 Plan is 4,000,000 , of which 2,061,087 shares remain available for issuance as of December 31, 2018 . Shares of common stock delivered under the plans may consist of authorized but unissued shares or previously issued shares reacquired by the Company. The term of a share option or SAR issued under the plans may not exceed ten years from the date of grant and the exercise price may not be less than the fair market value of the Company's common stock at the date of grant. Unvested awards generally become fully vested in the event of a change in control, as defined. Compensation Expense Related to Equity Based Awards The following table summarizes compensation cost related to equity based awards for the years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 2017 2016 Compensation cost of equity based awards: Unvested and restricted share awards $ 19,415 $ 18,087 $ 16,885 Executive share-based awards 3,027 3,416 1,482 Incentive awards 798 1,289 — Total compensation cost of equity based awards 23,240 22,792 18,367 Related tax benefits (5,783 ) (8,576 ) (6,899 ) Compensation cost of equity based awards, net of tax $ 17,457 $ 14,216 $ 11,468 Share Awards Unvested share awards A summary of activity related to unvested share awards follows for the years ended December 31, 2018 , 2017 and 2016 follows: Number of Share Awards Weighted Average Grant Date Fair Value Unvested share awards outstanding, December 31, 2015 1,040,385 $ 31.86 Granted 651,760 31.00 Vested (428,167 ) 31.79 Canceled or forfeited (143,278 ) 31.31 Unvested share awards outstanding, December 31, 2016 1,120,700 31.46 Granted 621,806 40.24 Vested (553,007 ) 31.67 Canceled or forfeited (81,022 ) 34.51 Unvested share awards outstanding, December 31, 2017 1,108,477 36.06 Granted 683,137 40.06 Vested (532,662 ) 34.64 Canceled or forfeited (72,714 ) 38.43 Unvested share awards outstanding, December 31, 2018 1,186,238 $ 38.86 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 range of 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except per share data): 2018 2017 2016 Range of the closing price on date of grant $33.44 - $42.8 $33.21 - $40.84 $29.78 - $33.76 Aggregate grant date fair value of shares vesting $ 18,451 $ 17,514 $ 13,613 The total unrecognized compensation cost of $26.5 million for all unvested share awards outstanding at December 31, 2018 will be recognized over a weighted average remaining period of 1.70 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 through December 31, 2017. RSUs vested on December 31, 2018 have not yet settled. As a result of the previous cash settlements, 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 for the years ended December 31, 2018 , 2017 and 2016 follows: RSU PSU Unvested executive share-based awards outstanding, December 31, 2015 — — Granted 97,852 57,873 Vested (19,291 ) — Unvested executive share-based awards outstanding, December 31, 2016 78,561 57,873 Granted 47,848 47,848 Vested (35,238 ) — Unvested executive share-based awards outstanding, December 31, 2017 91,171 105,721 Granted 52,026 52,026 Vested (52,585 ) (57,873 ) Unvested executive share-based awards outstanding, December 31, 2018 90,612 99,874 The total liability for the share units was $5.5 million at December 31, 2018 . The total unrecognized compensation cost of $3.9 million for these share units at December 31, 2018 will be recognized over a weighted average remaining period of 1.78 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 $0.8 million at December 31, 2018 . The total unrecognized compensation cost of $2.3 million for incentive share awards at December 31, 2018 will be recognized over a weighted average remaining period of 3.00 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 683,137 unvested share awards granted during the year ended December 31, 2018 , as discussed above, included 77,050 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 years ended December 31, 2018 , 2017 and 2016 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2015 3,651,152 $ 26.62 Exercised (47,979 ) 16.50 Canceled or forfeited (1,097 ) 63.74 Option awards outstanding, December 31, 2016 3,602,076 26.74 Exercised (2,331,388 ) 26.63 Option awards outstanding, December 31, 2017 1,270,688 26.93 Exercised (291,689 ) 26.49 Canceled or forfeited (14,159 ) 11.14 Option awards outstanding and exercisable, December 31, 2018 964,840 $ 27.30 The intrinsic value of options exercised during the years ended December 31, 2018 , 2017 and 2016 was $4.6 million , $25.8 million and $0.9 million , respectively. The related tax benefit of options exercised was $1.1 million , $4.0 million and $0.3 million , respectively, during the years ended December 31, 2018 , 2017 and 2016 . |
Schedule of Nonvested Share Activity [Table Text Block] | A summary of activity related to unvested share awards follows for the years ended December 31, 2018 , 2017 and 2016 follows: Number of Share Awards Weighted Average Grant Date Fair Value Unvested share awards outstanding, December 31, 2015 1,040,385 $ 31.86 Granted 651,760 31.00 Vested (428,167 ) 31.79 Canceled or forfeited (143,278 ) 31.31 Unvested share awards outstanding, December 31, 2016 1,120,700 31.46 Granted 621,806 40.24 Vested (553,007 ) 31.67 Canceled or forfeited (81,022 ) 34.51 Unvested share awards outstanding, December 31, 2017 1,108,477 36.06 Granted 683,137 40.06 Vested (532,662 ) 34.64 Canceled or forfeited (72,714 ) 38.43 Unvested share awards outstanding, December 31, 2018 1,186,238 $ 38.86 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 range of 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except per share data): 2018 2017 2016 Range of the closing price on date of grant $33.44 - $42.8 $33.21 - $40.84 $29.78 - $33.76 Aggregate grant date fair value of shares vesting $ 18,451 $ 17,514 $ 13,613 The total unrecognized compensation cost of $26.5 million for all unvested share awards outstanding at December 31, 2018 will be recognized over a weighted average remaining period of 1.70 years . |
Regulatory Requirements and R_2
Regulatory Requirements and Restrictions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The following tables provide information regarding regulatory capital for the Company and the Bank as of December 31, 2018 and 2017 (dollars in thousands): 2018 Actual Required to be Considered Well Capitalized Required to be Considered Adequately Capitalized Required to be Considered Amount Ratio Amount Ratio Amount Ratio Amount Ratio BankUnited, Inc.: Tier 1 leverage $ 2,839,302 8.99 % N/A (1) N/A (1) $ 1,263,725 4.00 % N/A N/A CET1 risk-based capital $ 2,839,302 12.57 % $ 1,467,693 6.50 % $ 1,016,095 4.50 % $ 1,580,593 7.00 % Tier 1 risk-based capital $ 2,839,302 12.57 % $ 1,806,392 8.00 % $ 1,354,794 6.00 % $ 1,919,291 8.50 % Total risk based capital $ 2,952,464 13.08 % $ 2,257,990 10.00 % $ 1,806,392 8.00 % $ 2,370,889 10.50 % BankUnited: Tier 1 leverage $ 3,026,106 9.60 % $ 1,575,712 5.00 % $ 1,260,569 4.00 % N/A N/A CET1 risk-based capital $ 3,026,106 13.45 % $ 1,462,054 6.50 % $ 1,012,191 4.50 % $ 1,574,519 7.00 % Tier 1 risk-based capital $ 3,026,106 13.45 % $ 1,799,451 8.00 % $ 1,349,588 6.00 % $ 1,911,917 8.50 % Total risk based capital $ 3,139,268 13.96 % $ 2,249,314 10.00 % $ 1,799,451 8.00 % $ 2,361,779 10.50 % 2017 Actual Required to be Considered Well Capitalized Required to be Considered Adequately Capitalized Amount Ratio Amount Ratio Amount Ratio BankUnited, Inc.: Tier 1 leverage $ 2,892,069 9.72 % N/A (1) N/A (1) $ 1,189,944 4.00 % CET1 risk-based capital $ 2,892,069 13.11 % $ 1,434,193 6.50 % $ 992,903 4.50 % Tier 1 risk-based capital $ 2,892,069 13.11 % $ 1,765,161 8.00 % $ 1,323,871 6.00 % Total risk based capital $ 3,041,004 13.78 % $ 2,206,451 10.00 % $ 1,765,161 8.00 % BankUnited: Tier 1 leverage $ 3,107,920 10.47 % $ 1,483,796 5.00 % $ 1,187,037 4.00 % CET1 risk-based capital $ 3,107,920 14.13 % $ 1,429,999 6.50 % $ 989,999 4.50 % Tier 1 risk-based capital $ 3,107,920 14.13 % $ 1,759,999 8.00 % $ 1,319,999 6.00 % Total risk based capital $ 3,255,221 14.80 % $ 2,199,999 10.00 % $ 1,759,999 8.00 % (1) There is no Tier 1 leverage ratio component in the definition of a well-capitalized bank holding company. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 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): 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 39,873 $ — $ — $ 39,873 U.S. Government agency and sponsored enterprise residential MBS — 1,897,474 — 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS — 374,787 — 374,787 Private label residential MBS and CMOs — 1,499,514 34,684 1,534,198 Private label commercial MBS — 1,485,716 — 1,485,716 Single family rental real estate-backed securities — 402,458 — 402,458 Collateralized loan obligations — 1,235,198 — 1,235,198 Non-mortgage asset-backed securities — 204,067 — 204,067 State and municipal obligations — 398,429 — 398,429 SBA securities — 519,313 — 519,313 Other debt securities — — 4,846 4,846 Marketable equity securities 60,519 — — 60,519 Servicing rights — — 9,525 9,525 Derivative assets — 29,615 — 29,615 Total assets at fair value $ 100,392 $ 8,046,571 $ 49,055 $ 8,196,018 Derivative liabilities $ — $ 23,874 $ — $ 23,874 Total liabilities at fair value $ — $ 23,874 $ — $ 23,874 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 years ended December 31, 2018 , 2017 and 2016 (in thousands): 2018 Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 52,214 $ 5,329 $ 30,737 Gains (losses) for the period included in: Net income 1,319 — 761 Other comprehensive income (5,193 ) (289 ) — Discount accretion 2,916 809 — Purchases or additions — — 12,600 Sales (5,120 ) — (34,573 ) Settlements (11,452 ) (1,003 ) — Balance at end of period $ 34,684 $ 4,846 $ 9,525 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (3,724 ) $ (289 ) 2017 Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 120,610 $ 4,572 $ 27,159 Gains (losses) for the period included in: Net income 25,547 — (5,821 ) Other comprehensive income (27,569 ) 766 — Discount accretion 6,181 280 — Purchases or additions — — 9,399 Sales (45,524 ) — — Settlements (27,031 ) (289 ) — Balance at end of period $ 52,214 $ 5,329 $ 30,737 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (3,345 ) $ 766 2016 Private Label Residential MBS Other Debt Securities Servicing Rights Balance at beginning of period $ 140,883 $ 4,532 $ 20,017 Gains (losses) for the period included in: Net income — — (6,023 ) Other comprehensive income (2,229 ) (9 ) — Discount accretion 5,947 116 — Purchases or additions — — 13,165 Settlements (23,991 ) (67 ) — Balance at end of period $ 120,610 $ 4,572 $ 27,159 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (2,229 ) $ (9 ) |
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 December 31, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) December 31, 2018 Investment grade $ 22,675 Discounted cash flow Voluntary prepayment rate 4.30% - 25.50% (12.28%) Probability of default 0.00% - 5.85% (1.03%) Loss severity 15.00% - 100.00% (18.84%) Discount rate 2.35% - 7.71% (2.95%) Non-investment grade $ 12,009 Discounted cash flow Voluntary prepayment rate 1.20% - 25.00% (16.51%) Probability of default 0.00% - 5.85% (2.31%) Loss severity 15.00% - 76.60% (29.16%) Discount rate 1.06% - 9.95% (4.91%) 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 December 31, 2018 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) December 31, 2018 Commercial servicing rights $ 9,525 Discounted cash flow Prepayment rate 2.82% - 17.09% (12.34%) Discount rate 4.84% - 17.07% (13.33%) 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): 2018 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Year Ended December 31, 2018 OREO and repossessed assets $ — $ 1,085 $ 486 $ 1,571 $ (1,864 ) Impaired loans $ — $ 775 $ 35,397 $ 36,172 $ (6,816 ) 2017 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Year Ended December 31, 2017 OREO and repossessed assets $ — $ — $ 5,790 $ 5,790 $ (2,078 ) Impaired loans $ — $ — $ 93,051 $ 93,051 $ (65,716 ) 2016 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Year Ended December 31, 2016 OREO and repossessed assets $ — $ — $ 12,466 $ 12,466 $ (1,156 ) Impaired loans $ — $ — $ 78,121 $ 78,121 $ (25,573 ) Equipment under operating lease $ — $ — $ 8,173 $ 8,173 $ (4,100 ) Included in the tables above are impaired taxi medallion loans with carrying values of $0.8 million , $86.0 million and $50.7 million at December 31, 2018 , 2017 and 2016, respectively, the majority of which were in New York City. Losses from fair value changes included in the tables above include $0.5 million , $62.4 million and $12.7 million were recognized on impaired taxi medallion loans during the years ended December 31, 2018 , 2017 and 2016, respectively. In addition, OREO and repossessed assets reported above included repossessed taxi medallions with carrying values of $1.1 million , $2.1 million and $2.5 million at December 31, 2018 , 2017 and 2016, respectively. Losses of $1.0 million , $1.3 million and $0.2 million were recognized on repossessed taxi medallions during the years ended December 31, 2018 , 2017 and 2016 , 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 December 31, 2018 and 2017 (dollars in thousands): 2018 2017 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 382,073 $ 382,073 $ 194,582 $ 194,582 Investment securities 1/2/3 8,166,878 8,167,127 6,690,832 6,690,832 Non-marketable equity securities 2 267,052 267,052 265,989 265,989 Loans held for sale 2 36,992 39,931 34,097 37,847 Loans: Covered 3 201,346 207,813 502,860 922,888 Non-covered 3 21,665,731 21,660,445 20,768,849 20,759,567 FDIC indemnification asset 3 — — 295,635 148,356 Derivative assets 2 29,615 29,615 27,627 27,627 Liabilities: Demand, savings and money market deposits 2 $ 16,654,465 $ 16,654,465 $ 15,543,637 $ 15,543,637 Time deposits 2 6,819,758 6,820,355 6,334,842 6,324,010 Federal funds purchased 2 175,000 175,000 — — FHLB advances 2 4,796,000 4,810,446 4,771,000 4,774,160 Notes and other borrowings 2 402,749 416,142 402,830 435,361 Derivative liabilities 2 23,874 23,874 25,373 25,373 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of the Total Lending Related Commitments Outstanding | Total lending related commitments outstanding at December 31, 2018 were as follows (in thousands): Commitments to fund loans $ 508,074 Commitments to purchase loans 518,054 Unfunded commitments under lines of credit 2,853,431 Commercial and standby letters of credit 85,446 $ 3,965,005 |
Condensed Financial Statement_2
Condensed Financial Statements of BankUnited, Inc. (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Statements [Abstract] | |
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets December 31, 2018 December 31, 2017 Assets: Cash and cash equivalents $ 143,843 $ 131,696 Investment securities available for sale, at fair value 60,519 63,543 Investment in BankUnited, N.A. 3,110,638 3,239,717 Deferred tax asset, net 10,088 9,456 Other assets 27,319 8,462 Total assets $ 3,352,407 $ 3,452,874 Liabilities and Stockholders' Equity: Notes payable $ 394,390 $ 393,725 Other liabilities 34,184 33,087 Stockholders' equity 2,923,833 3,026,062 Total liabilities and stockholders' equity $ 3,352,407 $ 3,452,874 |
Condensed Income Statement [Table Text Block] | Condensed Statements of Income Years Ended December 31, 2018 2017 2016 Income: Interest and dividends on investment securities available for sale $ 3,532 $ 3,580 $ 4,280 Service fees from subsidiary 21,000 18,787 21,957 Equity in earnings of subsidiary 349,937 639,250 242,874 Loss on investment securities (2,805 ) — — Total 371,664 661,617 269,111 Expense: Interest on borrowings 20,165 20,132 20,100 Employee compensation and benefits 28,477 27,032 27,143 Other 5,617 5,047 4,466 Total 54,259 52,211 51,709 Income before income taxes 317,405 609,406 217,402 Benefit for income taxes (7,461 ) (4,867 ) (8,339 ) Net income $ 324,866 $ 614,273 $ 225,741 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Years Ended December 31, 2018 2017 2016 Cash flows from operating activities: Net income $ 324,866 $ 614,273 $ 225,741 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries 70,064 (519,250 ) (157,374 ) Equity based compensation 23,137 22,692 18,032 Other (15,654 ) 3,343 7,438 Net cash provided by operating activities 402,413 121,058 93,837 Cash flows from investing activities: Capital contributions to subsidiary — (55,000 ) — Purchase of investment securities available for sale — — (20,150 ) Proceeds from repayments, sale, maturities and calls of investment securities available for sale — 15,000 19,401 Other (156 ) (250 ) (3 ) Net cash used in investing activities (156 ) (40,250 ) (752 ) Cash flows from financing activities: Dividends paid (91,305 ) (91,628 ) (89,824 ) Proceeds from exercise of stock options 7,727 62,095 791 Repurchase of common stock (299,972 ) — — Other (6,560 ) (7,297 ) 856 Net cash used in financing activities (390,110 ) (36,830 ) (88,177 ) Net increase in cash and cash equivalents 12,147 43,978 4,908 Cash and cash equivalents, beginning of period 131,696 87,718 82,810 Cash and cash equivalents, end of period $ 143,843 $ 131,696 $ 87,718 Supplemental schedule of non-cash investing and financing activities: Dividends declared, not paid $ 21,673 $ 23,055 $ 22,510 |
Quarterly Financial Informati_2
Quarterly Financial Information (Unaudited) (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | ||
Quarterly Financial Information [Table Text Block] | Note 18 Quarterly Financial Information (Unaudited) Financial information by quarter for the years ended December 31, 2018 and 2017 follows (in thousands, except per share data): 2018 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 414,796 $ 357,717 $ 348,855 $ 327,776 $ 1,449,144 Interest expense 119,743 105,749 93,592 79,967 399,051 Net interest income before provision for loan losses 295,053 251,968 255,263 247,809 1,050,093 Provision for loan losses 12,583 1,200 8,995 3,147 25,925 Net interest income after provision for loan losses 282,470 250,768 246,268 244,662 1,024,168 Non-interest income 33,328 38,735 31,973 27,986 132,022 Non-interest expense 246,678 170,798 161,247 161,817 740,540 Income before income taxes 69,120 118,705 116,994 110,831 415,650 Provision for income taxes 16,717 21,377 27,094 25,596 90,784 Net income $ 52,403 $ 97,328 $ 89,900 $ 85,235 $ 324,866 Earnings per common share, basic $ 0.50 $ 0.90 $ 0.82 $ 0.78 $ 3.01 Earnings per common share, diluted $ 0.50 $ 0.90 $ 0.82 $ 0.77 $ 2.99 2017 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 312,645 $ 309,443 $ 298,835 $ 283,538 $ 1,204,461 Interest expense 73,819 68,179 59,246 52,945 254,189 Net interest income before provision for loan losses 238,826 241,264 239,589 230,593 950,272 Provision for loan losses 5,174 37,854 13,619 12,100 68,747 Net interest income after provision for loan losses 233,652 203,410 225,970 218,493 881,525 Non-interest income 46,541 53,326 29,893 28,144 157,904 Non-interest expense 161,271 156,705 160,435 156,557 634,968 Income before income taxes 118,922 100,031 95,428 90,080 404,461 Provision (benefit) for income taxes (298,872 ) 32,252 29,021 27,787 (209,812 ) Net income $ 417,794 $ 67,779 $ 66,407 $ 62,293 $ 614,273 Earnings per common share, basic $ 3.80 $ 0.62 $ 0.60 $ 0.57 $ 5.60 Earnings per common share, diluted $ 3.79 $ 0.62 $ 0.60 $ 0.57 $ 5.58 Earnings for the fourth quarter 2017 benefited from a discrete income tax benefit of $327.9 million . See Note 10 to the consolidated financial statements for more information about the discrete income tax benefit. | Quarterly Financial Information (Unaudited) Financial information by quarter for the years ended December 31, 2018 and 2017 follows (in thousands, except per share data): 2018 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 414,796 $ 357,717 $ 348,855 $ 327,776 $ 1,449,144 Interest expense 119,743 105,749 93,592 79,967 399,051 Net interest income before provision for loan losses 295,053 251,968 255,263 247,809 1,050,093 Provision for loan losses 12,583 1,200 8,995 3,147 25,925 Net interest income after provision for loan losses 282,470 250,768 246,268 244,662 1,024,168 Non-interest income 33,328 38,735 31,973 27,986 132,022 Non-interest expense 246,678 170,798 161,247 161,817 740,540 Income before income taxes 69,120 118,705 116,994 110,831 415,650 Provision for income taxes 16,717 21,377 27,094 25,596 90,784 Net income $ 52,403 $ 97,328 $ 89,900 $ 85,235 $ 324,866 Earnings per common share, basic $ 0.50 $ 0.90 $ 0.82 $ 0.78 $ 3.01 Earnings per common share, diluted $ 0.50 $ 0.90 $ 0.82 $ 0.77 $ 2.99 2017 Fourth Quarter Third Quarter Second Quarter First Quarter Total Interest income $ 312,645 $ 309,443 $ 298,835 $ 283,538 $ 1,204,461 Interest expense 73,819 68,179 59,246 52,945 254,189 Net interest income before provision for loan losses 238,826 241,264 239,589 230,593 950,272 Provision for loan losses 5,174 37,854 13,619 12,100 68,747 Net interest income after provision for loan losses 233,652 203,410 225,970 218,493 881,525 Non-interest income 46,541 53,326 29,893 28,144 157,904 Non-interest expense 161,271 156,705 160,435 156,557 634,968 Income before income taxes 118,922 100,031 95,428 90,080 404,461 Provision (benefit) for income taxes (298,872 ) 32,252 29,021 27,787 (209,812 ) Net income $ 417,794 $ 67,779 $ 66,407 $ 62,293 $ 614,273 Earnings per common share, basic $ 3.80 $ 0.62 $ 0.60 $ 0.57 $ 5.60 Earnings per common share, diluted $ 3.79 $ 0.62 $ 0.60 $ 0.57 $ 5.58 Earnings for the fourth quarter 2017 benefited from a discrete income tax benefit of $327.9 million . See Note 10 to the consolidated financial statements for more information about the discrete income tax benefit. |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation of Basic and Diluted Earnings per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Numerator: | |||||||||||
Net income | $ 52,403 | $ 97,328 | $ 89,900 | $ 85,235 | $ 417,794 | $ 67,779 | $ 66,407 | $ 62,293 | $ 324,866 | $ 614,273 | $ 225,741 |
Distributed and undistributed earnings allocated to participating securities | (13,047) | (23,250) | (8,760) | ||||||||
Income allocated to common stockholders for basic earnings per common share | $ 311,819 | $ 591,023 | $ 216,981 | ||||||||
Denominator: | |||||||||||
Weighted average common shares outstanding | 104,916,865 | 106,574,448 | 104,097,182 | ||||||||
Less average unvested stock awards | (1,171,994) | (1,104,035) | (1,157,378) | ||||||||
Weighted average shares for basic earnings per common share | 103,744,871 | 105,470,413 | 102,939,804 | ||||||||
Basic earnings per common share | $ 0.50 | $ 0.90 | $ 0.82 | $ 0.78 | $ 3.80 | $ 0.62 | $ 0.60 | $ 0.57 | $ 3.01 | $ 5.60 | $ 2.11 |
Numerator: | |||||||||||
Income allocated to common stockholders for basic earnings per common share | $ 311,819 | $ 591,023 | $ 216,981 | ||||||||
Adjustment for earnings reallocated from participating securities | (195) | (263) | 62 | ||||||||
Income used in calculating diluted earnings per common share | $ 311,624 | $ 590,760 | $ 217,043 | ||||||||
Denominator: | |||||||||||
Weighted average shares for basic earnings per common share | 103,744,871 | 105,470,413 | 102,939,804 | ||||||||
Dilutive effect of stock options | 332,505 | 387,074 | 716,366 | ||||||||
Weighted average shares for diluted earnings per common share | 104,077,376 | 105,857,487 | 103,656,170 | ||||||||
Diluted earnings per common share | $ 0.50 | $ 0.90 | $ 0.82 | $ 0.77 | $ 3.79 | $ 0.62 | $ 0.60 | $ 0.57 | $ 2.99 | $ 5.58 | $ 2.09 |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) | May 21, 2009USD ($) | Dec. 31, 2018USD ($)subsidiarybank | Dec. 31, 2017USD ($) |
Summary of Significant Accounting Policies [Line Items] | |||
Number Of Subsidiaries | subsidiary | 1 | ||
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% | ||
Period of delinquency of principal or interest at which commercial loans are placed on non-accrual status unless the loan is well-secured and in the process of collection (in Duration) | 90 days | ||
Period of delinquency of interest at which residential and consumer loans, other than ACI loans, are placed on non-accrual status unless the loan is well-secured and in the process of collection | 90 days | ||
Period of principal or interest paid at which residential loans are returned to accrual status (in Duration) | 90 days | ||
Maximum period of loans past due reported as current (in Duration) | 30 days | ||
Minimum period of delinquency for non-covered loans secured by residential real estate, at which an assessment of collateral value is made (in Duration) | 120 days | ||
Maximum period of delinquency at which any outstanding residential loan balance in excess of fair value less cost to sell is charged off (in Duration) | 180 days | ||
Period after receipt of notification of filing from the bankruptcy court at which any outstanding balance in excess of fair value of collateral less cost to sell, at which it is charged off (in Duration) | 60 days | ||
Period within determination of loss if all borrowers are deceased, at which any outstanding balance in excess of fair value of collateral less cost to sell, at which it is charged off (in Duration) | 60 days | ||
Period within days of discovery of fraudulent activity, at which any outstanding balance in excess of fair value of collateral less cost to sell, at which it is charged off (in Duration) | 90 days | ||
Period of delinquency of consumer loans, at which, at which they are charged off when management deems them to be uncollectible (in Duration) | 120 days | ||
Loans and Leases Receivable, Net Charge-Off Rate Calculation, Banks Used In Assumption | bank | 26 | ||
Goodwill | $ 78,000,000 | $ 78,000,000 | |
Operating Lease, Right-of-Use Asset | 95,000,000 | ||
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 | ||
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) | ||
Accounting Standards Update 2016-02 [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Operating Lease, Liability | 104,000,000 | ||
Commercial Portfolio Segment [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
The value below which non accrual status commercial relationships may be evaluated for impairment at management's discretion | 1,000,000 | ||
Minimum | Commercial Portfolio Segment [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
The value at which non accrual status commercial relationships are evaluated for impairment | $ 1,000,000 | ||
NEW YORK | |||
Summary of Significant Accounting Policies [Line Items] | |||
Loans and Leases Receivable, Net Charge-Off Rate Calculation, Banks Used In Assumption | bank | 5 | ||
Building and Building Improvements [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 30 years | ||
Leasehold Improvements [Member] | Minimum | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Leasehold Improvements [Member] | Maximum [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 20 years | ||
Furniture, Fixtures And Equipment [Member] | Minimum | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Furniture, Fixtures And Equipment [Member] | Maximum [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 7 years | ||
Computer Equipment [Member] | Minimum | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Computer Equipment [Member] | Maximum [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Software and software licensing rights | Minimum | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Software and software licensing rights | Maximum [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years |
Earnings Per Common Share (Pote
Earnings Per Common Share (Potentially Dilutive Securities Outstanding) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unvested shares and share units | |||
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items] | |||
Potentially dilutive securities outstanding (in Shares) | 1,463,607 | 1,431,761 | 1,303,208 |
Stock options and warrants | |||
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items] | |||
Potentially dilutive securities outstanding (in Shares) | 1,960 | 1,850,279 | 1,850,279 |
Earnings Per Common Share Earni
Earnings Per Common Share Earnings per Common Share (Narrative) (Details) | Dec. 31, 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 | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 8,090,654 | $ 6,587,786 |
Gross Unrealized Gains | 49,030 | 98,906 |
Gross Unrealized Losses | (43,325) | (5,860) |
Investment securities available for sale, at fair value | 8,096,359 | 6,680,832 |
Investment securities held to maturity | 10,000 | 10,000 |
Investments, Amortized Cost | 8,161,173 | 6,597,786 |
Investment securities (including securities recorded at fair value of $8,156,878 and $6,680,832) | 8,166,878 | 6,690,832 |
U.S. Treasury securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 39,885 | 24,981 |
Gross Unrealized Gains | 2 | 0 |
Gross Unrealized Losses | (14) | (28) |
Investment securities available for sale, at fair value | 39,873 | 24,953 |
U.S. Government agency and sponsored enterprise residential MBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,885,302 | 2,043,373 |
Gross Unrealized Gains | 16,580 | 16,094 |
Gross Unrealized Losses | (4,408) | (1,440) |
Investment securities available for sale, at fair value | 1,897,474 | 2,058,027 |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 374,569 | 233,522 |
Gross Unrealized Gains | 1,293 | 1,330 |
Gross Unrealized Losses | (1,075) | (344) |
Investment securities available for sale, at fair value | 374,787 | 234,508 |
Private label residential mortgage-backed securities and CMOs | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,539,058 | 613,732 |
Gross Unrealized Gains | 10,138 | 16,473 |
Gross Unrealized Losses | (14,998) | (1,958) |
Investment securities available for sale, at fair value | 1,534,198 | 628,247 |
Private label commercial mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,486,835 | 1,033,022 |
Gross Unrealized Gains | 5,021 | 13,651 |
Gross Unrealized Losses | (6,140) | (258) |
Investment securities available for sale, at fair value | 1,485,716 | 1,046,415 |
Single family rental real estate-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 406,310 | 559,741 |
Gross Unrealized Gains | 266 | 3,823 |
Gross Unrealized Losses | (4,118) | (858) |
Investment securities available for sale, at fair value | 402,458 | 562,706 |
Collateralized loan obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,239,355 | 720,429 |
Gross Unrealized Gains | 1,060 | 3,252 |
Gross Unrealized Losses | (5,217) | 0 |
Investment securities available for sale, at fair value | 1,235,198 | 723,681 |
Non-mortgage asset-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 204,372 | 119,939 |
Gross Unrealized Gains | 1,031 | 1,808 |
Gross Unrealized Losses | (1,336) | 0 |
Investment securities available for sale, at fair value | 204,067 | 121,747 |
State and municipal obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 398,810 | 640,511 |
Gross Unrealized Gains | 3,684 | 17,606 |
Gross Unrealized Losses | (4,065) | (914) |
Investment securities available for sale, at fair value | 398,429 | 657,203 |
SBA securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 514,765 | 534,534 |
Gross Unrealized Gains | 6,502 | 16,208 |
Gross Unrealized Losses | (1,954) | (60) |
Investment securities available for sale, at fair value | 519,313 | 550,682 |
Other debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,393 | 4,090 |
Gross Unrealized Gains | 3,453 | 5,030 |
Gross Unrealized Losses | 0 | 0 |
Investment securities available for sale, at fair value | 4,846 | 9,120 |
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 | 60,519 | $ 63,543 |
Marketable Equity Securities, Amortized Cost | $ 60,519 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)security | Dec. 31, 2017USD ($)security | Dec. 31, 2016security | |
Schedule of Available-for-sale Securities [Line Items] | |||
Number of held-to-maturity securities | 1 | 1 | |
Investment securities held to maturity | $ | $ 10,000 | $ 10,000 | |
Weighted average life of investment portfolio (in Duration) | 4 years 6 months 15 days | ||
Effective duration of investment portfolio (in Duration) | 1 year 5 months 1 day | ||
Available-for-sale Securities Pledged as Collateral | $ | $ 2,100,000 | $ 2,600,000 | |
Number of securities in unrealized loss positions (in Securities) | 218 | ||
Number of securities which impairment considered insignificant (in Securities) | 53 | ||
Available-for-sale securities, gross unrealized loss, considered insignificant | $ | $ 596 | ||
Number of securities determined to be other than temporarily impaired during the period | 0 | 0 | 2 |
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) | 36 | ||
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) | 7 | ||
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) | 38 | ||
Private label commercial mortgage-backed securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 27 | ||
Single family rental real estate-backed securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 13 | ||
Collateralized loan obligations | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 18 | ||
Non-mortgage asset-backed securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 6 | ||
State and municipal obligations | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 14 | ||
SBA securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 6 | ||
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) | 3.00% | ||
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% | ||
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) | 3.00% |
Investment Securities (Schedu_2
Investment Securities (Schedule of Maturities of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 939,802 | |
Due after one year through five years, Amortized Cost | 4,097,200 | |
Due after five years through ten years, Amortized Cost | 2,662,298 | |
Due after ten years, Amortized Cost | 391,354 | |
Amortized Cost | 8,090,654 | $ 6,587,786 |
Due in one year or less, Fair Value | 942,507 | |
Due after one year through five years, Fair Value | 4,097,966 | |
Due after five years through ten years, Fair Value | 2,662,649 | |
Due after ten years, Fair Value | 393,237 | |
Fair Value | $ 8,096,359 | $ 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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |||
Proceeds from sale of investment securities available for sale | $ 1,030,810 | $ 1,287,591 | $ 1,127,983 |
Gross realized gains: | 8,616 | 37,530 | 14,924 |
Gross realized losses: | (2,514) | (4,064) | 0 |
Net realized gain | 6,102 | 33,466 | 14,924 |
Unrealized Gain (Loss) on Securities | (2,943) | 0 | 0 |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | 0 | 0 | 463 |
Gain on investment securities, net | $ 3,159 | $ 33,466 | $ 14,461 |
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 | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 3,658,094 | $ 1,080,493 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (28,077) | (4,546) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 593,775 | 94,520 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (15,248) | (1,314) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,251,869 | 1,175,013 |
Gross Unrealized Losses | (43,325) | (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 | 14,921 | 24,953 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (14) | (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 | 14,921 | 24,953 |
Gross Unrealized Losses | (14) | (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 | 450,666 | 471,120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,828) | (1,141) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 87,311 | 13,028 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,580) | (299) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 537,977 | 484,148 |
Gross Unrealized Losses | (4,408) | (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 | 146,096 | 26,265 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (352) | (344) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 25,815 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (723) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 171,911 | 26,265 |
Gross Unrealized Losses | (1,075) | (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 | 759,921 | 330,068 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7,073) | (1,858) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 278,108 | 5,083 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (7,925) | (100) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,038,029 | 335,151 |
Gross Unrealized Losses | (14,998) | (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 | 742,092 | 81,322 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (5,371) | (258) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 39,531 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (769) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 781,623 | 81,322 |
Gross Unrealized Losses | (6,140) | (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 | 234,305 | 94,750 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,973) | (858) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 85,282 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,145) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 319,587 | 94,750 |
Gross Unrealized Losses | (4,118) | (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 | 749,047 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (5,217) | |
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 | 749,047 | |
Gross Unrealized Losses | (5,217) | 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 | 136,100 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,336) | |
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 | 136,100 | |
Gross Unrealized Losses | (1,336) | 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 | 208,971 | 30,715 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3,522) | (49) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 46,247 | 60,982 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (543) | (865) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 255,218 | 91,697 |
Gross Unrealized Losses | (4,065) | (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 | 215,975 | 21,300 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,391) | (10) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 31,481 | 15,427 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (563) | (50) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 247,456 | 36,727 |
Gross Unrealized Losses | $ (1,954) | $ (60) |
Loans and Allowance for Loan _3
Loans and Allowance for Loan and Lease Losses (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable Investment Past Due [Line Items] | |||
Capital Leases, Net Investment in Direct Financing Leases | $ 739,245 | ||
Purchases of loans | 1,308,772 | $ 1,300,996 | $ 1,266,097 |
Unpaid principal balance of real estate loans pledged as security for FHLB advances | 9,800,000 | ||
Recorded investment of real estate loans pledged as security for FHLB advances | 9,600,000 | ||
Unpaid principal balance of covered loans retained after the termination of the Single Family Share-Loss Agreement | 401,000 | ||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | |
Unpaid principal balance of ACI loans | 400,000 | 1,100,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 9,600 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 4,974 | 4,100 | |
1-4 single family residential | |||
Financing Receivable Investment Past Due [Line Items] | |||
Purchases of loans | 1,308,772 | 1,300,996 | |
Residential and Other Consumer | |||
Financing Receivable Investment Past Due [Line Items] | |||
Mortgage Loans in Process of Foreclosure, Amount | 0 | 11,000 | |
Commercial Lending Subsidiaries | |||
Financing Receivable Investment Past Due [Line Items] | |||
Capital Leases, Net Investment in Direct Financing Leases | 739,000 | 738,000 | |
Covered [Member] | |||
Financing Receivable Investment Past Due [Line Items] | |||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | |
Covered [Member] | Residential and Other Consumer | |||
Financing Receivable Investment Past Due [Line Items] | |||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 6,000 | 3,000 | |
Covered [Member] | Commercial | |||
Financing Receivable Investment Past Due [Line Items] | |||
Covered loans net of premiums, discounts and deferred fees and costs | 0 | $ 0 | |
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 | ||
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 | ||
US Government Agency Insured Loans [Member] | 1-4 single family residential | |||
Financing Receivable Investment Past Due [Line Items] | |||
Purchases of loans | 370,834 | ||
US Government Agency Insured Loans [Member] | Residential and Other Consumer | |||
Financing Receivable Investment Past Due [Line Items] | |||
Mortgage Loans in Process of Foreclosure, Amount | $ 85,000 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan and Lease Losses (Schedule of Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 21,730,211 | $ 20,865,221 |
Loans, gross | 21,932,992 | 21,371,487 |
Non-covered premiums, discounts and deferred fees and costs, net | 45,421 | 48,165 |
Premiums, discounts and deferred fees and costs, net | 44,016 | 45,017 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 21,775,632 | 20,913,386 |
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 |
Loans net of premiums, discounts and deferred fees and costs | 21,977,008 | 21,416,504 |
Non-covered Allowance for loan and lease losses | (109,901) | (144,537) |
Allowance for loan and lease losses | (109,931) | (144,795) |
Non-covered loans, net | 21,665,731 | 20,768,849 |
Loans, net | $ 21,867,077 | $ 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 | $ 4,404,047 | $ 4,089,994 |
Loans, gross | 4,606,828 | 4,596,260 |
Loans net of premiums, discounts and deferred fees and costs | $ 4,664,920 | $ 4,648,997 |
Percent of Total | 21.00% | 21.50% |
Home equity loans and lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 1,393 | $ 1,654 |
Loans, gross | $ 1,393 | $ 1,654 |
Percent of Total | 0.00% | 0.00% |
Other Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 15,976 | $ 20,512 |
Loans, gross | 15,976 | 20,512 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 15,947 | $ 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 | $ 4,687,117 | $ 4,138,980 |
Loans, gross | $ 4,889,898 | $ 4,645,246 |
Percent of Total | 22.30% | 21.70% |
Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 2,583,331 | $ 3,215,697 |
Loans, gross | 2,583,331 | 3,215,697 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 2,585,421 | $ 3,218,953 |
Percent of Total | 11.80% | 15.00% |
Commercial real estate, Non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 4,700,188 | $ 4,485,276 |
Loans, gross | 4,700,188 | 4,485,276 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 4,688,880 | $ 4,474,801 |
Percent of Total | 21.40% | 21.00% |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 227,134 | $ 310,999 |
Loans, gross | 227,134 | 310,999 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 226,840 | $ 310,484 |
Percent of Total | 1.00% | 1.50% |
Commercial real estate, Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 2,122,381 | $ 2,014,908 |
Loans, gross | 2,122,381 | 2,014,908 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 2,119,880 | $ 2,012,742 |
Percent of Total | 9.70% | 9.40% |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 4,801,226 | $ 4,145,785 |
Loans, gross | $ 4,801,226 | $ 4,145,785 |
Percent of Total | 21.90% | 19.40% |
Commercial Lending Subsidiaries | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 2,608,834 | $ 2,553,576 |
Loans, gross | $ 2,608,834 | $ 2,553,576 |
Percent of Total | 11.90% | 12.00% |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, gross | $ 17,043,094 | $ 16,726,241 |
Loans, gross | 17,043,094 | 16,726,241 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 17,028,019 | $ 16,717,306 |
Percent of Total | 77.70% | 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 | $ 17,925 | $ 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 | 17,925 | 33,776 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 17,925 | 33,776 |
ACI Loans, Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 190,223 | 479,068 |
Covered loans net of premiums, discounts and deferred fees and costs | 190,223 | 479,068 |
Covered Allowance for loan and lease losses | 0 | 0 |
Covered loans, net | 190,223 | 479,068 |
ACI Loans, Covered [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 190,223 | 479,068 |
Covered loans net of premiums, discounts and deferred fees and costs | 190,223 | 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 | 190,223 | 479,068 |
Non-ACI | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 12,558 | 27,198 |
Covered premiums, discounts and deferred fees and costs, net | (1,405) | (3,148) |
Covered loans net of premiums, discounts and deferred fees and costs | 11,153 | 24,050 |
Covered Allowance for loan and lease losses | (30) | (258) |
Covered loans, net | 11,123 | 23,792 |
Non-ACI | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans, gross | 12,558 | 27,198 |
Covered loans net of premiums, discounts and deferred fees and costs | 11,153 | 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 | 12,558 | 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 | 265,701 | 26,820 |
Loans, gross | $ 265,701 | $ 26,820 |
Percent of Total | 1.20% | 0.10% |
Loans and Allowance for Loan _5
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Direct Financing Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Capital Leases, Net Investment in Direct Financing Leases, Minimum Payments to be Received | $ 808,921 | $ 792,064 |
Capital Leases, Net Investment in Direct Financing Leases, Unguaranteed Residual Values of Leased Property | 7,355 | 17,872 |
Capital Leases, Net Investment in Direct Financing Leases, Gross Investment | 816,276 | 809,936 |
Capital Leases, Net Investment in Direct Financing Leases, Deferred Income | 81,864 | 76,900 |
Capital Leases, Net Investment in Direct Financing Leases, Initial Direct Costs | 4,833 | $ 5,184 |
Capital Leases, Net Investment in Direct Financing Leases | 739,245 | |
Capital Leases, Future Minimum Payments Receivable, Next Twelve Months | 197,004 | |
Capital Leases, Future Minimum Payments, Receivable in Two Years | 169,437 | |
Capital Leases, Future Minimum Payments, Receivable in Three Years | 109,057 | |
Capital Leases, Future Minimum Payments, Receivable in Four Years | 69,242 | |
Capital Leases, Future Minimum Payments, Receivable in Five Years | 56,312 | |
Capital Leases, Future Minimum Payments, Receivable Thereafter | $ 207,869 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan and Lease Losses (Schedule for Accretable Yield Rollforward) (Details) - ACI loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Beginning Balance | $ 455,059 | $ 675,385 | $ 902,565 |
Reclassifications from non-accretable difference | 128,499 | 81,501 | 76,751 |
Accretion | (369,915) | (301,827) | (303,931) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Period Increase (Decrease) | 78,204 | ||
Ending Balance | $ 291,847 | $ 455,059 | $ 675,385 |
Loans and Allowance for Loan _7
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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Document Fiscal Year Focus | 2,018 | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 201,376 | $ 503,118 | |
Unpaid principal balance of covered loans retained after the termination of the Single Family Share-Loss Agreement | 401,000 | ||
Gain on sale of loans, net | 15,864 | 27,589 | $ (4,406) |
Gain on FDIC indemnification, net | 3,388 | (1,523) | 11,615 |
Covered [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | |
Covered [Member] | Residential and Other Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | |
UPB of loans sold | 539,853 | 203,970 | 241,348 |
Cash proceeds, net of transaction costs | 488,972 | 169,828 | 171,367 |
Recorded investment in loans sold | 483,240 | 152,422 | 185,837 |
Gain on sale of loans, net | $ 5,732 | $ 17,406 | $ (14,470) |
Loans and Allowance for Loan _8
Loans and Allowance for Loan and Lease Losses (ALLL Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Allowance for loan and lease losses, beginning of period | $ 144,795 | $ 152,953 | $ 144,795 | $ 152,953 | $ 125,828 | ||||||
Provision for loan losses | $ 12,583 | $ 1,200 | $ 8,995 | 3,147 | $ 5,174 | $ 37,854 | $ 13,619 | 12,100 | 25,925 | 68,747 | 50,911 |
Charge-offs | (67,084) | (81,193) | (27,110) | ||||||||
Recoveries | 6,295 | 4,288 | 3,324 | ||||||||
Allowance for loan and lease losses, end of period | 109,931 | 144,795 | 109,931 | 144,795 | 152,953 | ||||||
Residential and Other Consumer | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Allowance for loan and lease losses, beginning of period | 10,720 | 11,503 | 10,720 | 11,503 | 16,211 | ||||||
Provision for loan losses | 1,032 | 2,452 | (3,446) | ||||||||
Charge-offs | (1,465) | (3,328) | (1,368) | ||||||||
Recoveries | 501 | 93 | 106 | ||||||||
Allowance for loan and lease losses, end of period | 10,788 | 10,720 | 10,788 | 10,720 | 11,503 | ||||||
Commercial | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Allowance for loan and lease losses, beginning of period | 134,075 | $ 141,450 | 134,075 | 141,450 | 109,617 | ||||||
Provision for loan losses | 24,893 | 66,295 | 54,357 | ||||||||
Charge-offs | (65,619) | (77,865) | (25,742) | ||||||||
Recoveries | 5,794 | 4,195 | 3,218 | ||||||||
Allowance for loan and lease losses, end of period | 99,143 | 134,075 | 99,143 | 134,075 | 141,450 | ||||||
Covered [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Allowance for loan and lease losses, beginning of period | 258 | 258 | |||||||||
Provision for loan losses | 752 | 1,358 | (1,681) | ||||||||
Charge-offs | (1,200) | (3,327) | (1,216) | ||||||||
Recoveries | 220 | 127 | 129 | ||||||||
Allowance for loan and lease losses, end of period | 30 | 258 | 30 | 258 | |||||||
Covered [Member] | Residential and Other Consumer | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Allowance for loan and lease losses, beginning of period | 258 | 258 | |||||||||
Provision for loan losses | 752 | 1,418 | (1,632) | ||||||||
Charge-offs | (1,200) | (3,327) | (1,216) | ||||||||
Recoveries | 220 | 67 | 80 | ||||||||
Allowance for loan and lease losses, end of period | 30 | 258 | 30 | 258 | |||||||
Covered [Member] | Commercial | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Allowance for loan and lease losses, beginning of period | 0 | 0 | |||||||||
Provision for loan losses | 0 | (60) | (49) | ||||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 0 | 60 | 49 | ||||||||
Allowance for loan and lease losses, end of period | 0 | 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 | 144,537 | |||||||||
Provision for loan losses | 25,173 | 67,389 | 52,592 | ||||||||
Charge-offs | (65,884) | (77,866) | (25,894) | ||||||||
Recoveries | 6,075 | 4,161 | 3,195 | ||||||||
Allowance for loan and lease losses, end of period | 109,901 | 144,537 | 109,901 | 144,537 | |||||||
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 | 10,462 | |||||||||
Provision for loan losses | 280 | 1,034 | (1,814) | ||||||||
Charge-offs | (265) | (1) | (152) | ||||||||
Recoveries | 281 | 26 | 26 | ||||||||
Allowance for loan and lease losses, end of period | 10,758 | 10,462 | 10,758 | 10,462 | |||||||
Non-Covered [Domain] | Commercial | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Allowance for loan and lease losses, beginning of period | $ 134,075 | 134,075 | |||||||||
Provision for loan losses | 24,893 | 66,355 | 54,406 | ||||||||
Charge-offs | (65,619) | (77,865) | (25,742) | ||||||||
Recoveries | 5,794 | 4,135 | $ 3,169 | ||||||||
Allowance for loan and lease losses, end of period | $ 99,143 | $ 134,075 | $ 99,143 | $ 134,075 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Balance of ALLL and Related Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | $ 109,931 | $ 144,795 | $ 152,953 | $ 125,828 |
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | ||
Loans net of premiums, discounts and deferred fees and costs | 21,977,008 | 21,416,504 | ||
Loans and Leases Receivable, Net of Deferred Income | 21,775,632 | 20,913,386 | ||
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 10,788 | 10,720 | 11,503 | 16,211 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 99,143 | 134,075 | $ 141,450 | $ 109,617 |
Loans and Leases Receivable, Net of Deferred Income | 17,028,019 | 16,717,306 | ||
Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 30 | 258 | ||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | ||
Covered [Member] | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 30 | 258 | ||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 | ||
Covered [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | ||
Covered loans net of premiums, discounts and deferred fees and costs | 0 | 0 | ||
Non-Covered [Domain] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 109,901 | 144,537 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 12,277 | 18,839 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 97,624 | 125,698 | ||
Financing Receivable, Individually Evaluated for Impairment | 116,531 | 174,940 | ||
Financing Receivable, Collectively Evaluated for Impairment | 21,641,176 | 20,704,670 | ||
Loans and Leases Receivable, Net of Deferred Income | 21,775,632 | 20,913,386 | ||
Non-Covered [Domain] | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 10,758 | 10,462 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 134 | 63 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 10,624 | 10,399 | ||
Financing Receivable, Individually Evaluated for Impairment | 7,690 | 1,234 | ||
Financing Receivable, Collectively Evaluated for Impairment | 4,739,914 | 4,194,846 | ||
Loans and Leases Receivable, Net of Deferred Income | 4,747,604 | 4,196,080 | ||
Non-Covered [Domain] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 99,143 | 134,075 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 12,143 | 18,776 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 87,000 | 115,299 | ||
Financing Receivable, Individually Evaluated for Impairment | 108,841 | 173,706 | ||
Financing Receivable, Collectively Evaluated for Impairment | 16,901,262 | 16,509,824 | ||
Loans and Leases Receivable, Net of Deferred Income | 17,028,028 | 16,717,306 | ||
ACI Loans, Non-covered | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 17,925 | 33,776 | ||
ACI Loans, Non-covered | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
ACI Loans, Non-covered | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 17,925 | 33,776 | ||
ACI loans | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans net of premiums, discounts and deferred fees and costs | 190,223 | 479,068 | ||
ACI loans | Covered [Member] | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans net of premiums, discounts and deferred fees and costs | 190,223 | 479,068 | ||
ACI loans | Covered [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans net of premiums, discounts and deferred fees and costs | 0 | 0 | ||
Non-ACI loans [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 118 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 30 | 140 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 2,221 | ||
Financing Receivable, Collectively Evaluated for Impairment | 11,153 | 21,829 | ||
Non-ACI loans [Member] | Covered [Member] | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 118 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 30 | 140 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 2,221 | ||
Financing Receivable, Collectively Evaluated for Impairment | 11,153 | 21,829 | ||
Non-ACI loans [Member] | Covered [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | $ 0 | $ 0 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan and Lease Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | $ 174,598 | $ 203,452 | $ 116,960 | |||||||||
Financing Receivable, Allowance for Credit Losses | $ 109,931 | $ 144,795 | $ 109,931 | 144,795 | 152,953 | $ 125,828 | ||||||
Document Fiscal Year Focus | 2,018 | |||||||||||
Recorded Investment, Total | 116,531 | 174,940 | $ 116,531 | 174,940 | ||||||||
UPB, Total | 116,284 | 174,865 | 116,284 | 174,865 | ||||||||
Related Specific Allowance, Impaired loans | 12,277 | 18,839 | 12,277 | 18,839 | ||||||||
Provision for loan losses | 12,583 | $ 1,200 | $ 8,995 | $ 3,147 | 5,174 | $ 37,854 | $ 13,619 | $ 12,100 | 25,925 | 68,747 | 50,911 | |
Allowance for Loan and Lease Losses, Write-offs | (67,084) | (81,193) | (27,110) | |||||||||
Residential and Other Consumer | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Losses | 10,788 | 10,720 | 10,788 | 10,720 | 11,503 | 16,211 | ||||||
Recorded Investment, Total | 7,690 | 1,234 | 7,690 | 1,234 | ||||||||
UPB, Total | 7,546 | 1,212 | 7,546 | 1,212 | ||||||||
Related Specific Allowance, Impaired loans | 134 | 63 | 134 | 63 | ||||||||
Provision for loan losses | 1,032 | 2,452 | (3,446) | |||||||||
Allowance for Loan and Lease Losses, Write-offs | (1,465) | (3,328) | (1,368) | |||||||||
Multi-family | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 25,679 | 4,259 | 0 | |||||||||
Recorded Investment, With no specific allowance recorded | 25,560 | 0 | 25,560 | 0 | ||||||||
Recorded Investment, With a specific allowance recorded | 0 | 23,173 | 0 | 23,173 | ||||||||
UPB, With no specific allowance recorded | 25,592 | 0 | 25,592 | 0 | ||||||||
UPB, With a specific allowance recorded | 0 | 23,175 | 0 | 23,175 | ||||||||
Related Specific Allowance, Impaired loans | 0 | 1,732 | 0 | 1,732 | ||||||||
Commercial real estate, Non-owner occupied | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 14,106 | 5,537 | 710 | |||||||||
Recorded Investment, With no specific allowance recorded | 12,293 | 10,922 | 12,293 | 10,922 | ||||||||
UPB, With no specific allowance recorded | 12,209 | 10,838 | 12,209 | 10,838 | ||||||||
Construction and land | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 6,551 | 2,789 | 797 | |||||||||
Recorded Investment, With no specific allowance recorded | 9,923 | 1,175 | 9,923 | 1,175 | ||||||||
UPB, With no specific allowance recorded | 9,925 | 1,175 | 9,925 | 1,175 | ||||||||
Commercial real estate, Owner occupied | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 16,207 | 19,882 | 14,645 | |||||||||
Recorded Investment, With no specific allowance recorded | 9,007 | 22,002 | 9,007 | 22,002 | ||||||||
Recorded Investment, With a specific allowance recorded | 3,316 | 3,075 | 3,316 | 3,075 | ||||||||
UPB, With no specific allowance recorded | 9,024 | 22,025 | 9,024 | 22,025 | ||||||||
UPB, With a specific allowance recorded | 3,322 | 3,079 | 3,322 | 3,079 | ||||||||
Related Specific Allowance, Impaired loans | 844 | 2,960 | 844 | 2,960 | ||||||||
Taxi medallion [Member] | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 79,786 | 108,977 | 45,012 | |||||||||
Recorded Investment, With no specific allowance recorded | 775 | 13,560 | 775 | 13,560 | ||||||||
Recorded Investment, With a specific allowance recorded | 0 | 92,507 | 0 | 92,507 | ||||||||
UPB, With no specific allowance recorded | 775 | 13,559 | 775 | 13,559 | ||||||||
UPB, With a specific allowance recorded | 0 | 92,508 | 0 | 92,508 | ||||||||
Related Specific Allowance, Impaired loans | 0 | 12,214 | 0 | 12,214 | ||||||||
Other Commercial and industrial [Member] | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 17,602 | 38,275 | 40,443 | |||||||||
Recorded Investment, With no specific allowance recorded | 12,739 | 345 | 12,739 | 345 | ||||||||
Recorded Investment, With a specific allowance recorded | 10,939 | 3,626 | 10,939 | 3,626 | ||||||||
UPB, With no specific allowance recorded | 12,744 | 374 | 12,744 | 374 | ||||||||
UPB, With a specific allowance recorded | 10,946 | 3,624 | 10,946 | 3,624 | ||||||||
Related Specific Allowance, Impaired loans | 3,831 | 1,540 | 3,831 | 1,540 | ||||||||
Commercial Lending Subsidiaries | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 9,757 | 22,865 | 15,052 | |||||||||
Recorded Investment, With no specific allowance recorded | 3,152 | 0 | 3,152 | 0 | ||||||||
Recorded Investment, With a specific allowance recorded | 19,471 | 3,321 | 19,471 | 3,321 | ||||||||
UPB, With no specific allowance recorded | 3,149 | 0 | 3,149 | 0 | ||||||||
UPB, With a specific allowance recorded | 19,385 | 3,296 | 19,385 | 3,296 | ||||||||
Related Specific Allowance, Impaired loans | 6,737 | 330 | 6,737 | 330 | ||||||||
Commercial | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 169,688 | 202,584 | ||||||||||
Financing Receivable, Allowance for Credit Losses | 99,143 | 134,075 | 99,143 | 134,075 | 141,450 | $ 109,617 | ||||||
Recorded Investment, Total | 108,841 | 173,706 | 108,841 | 173,706 | ||||||||
UPB, Total | 108,738 | 173,653 | 108,738 | 173,653 | ||||||||
Related Specific Allowance, Impaired loans | 12,143 | 18,776 | 12,143 | 18,776 | ||||||||
Provision for loan losses | 24,893 | 66,295 | 54,357 | |||||||||
Allowance for Loan and Lease Losses, Write-offs | (65,619) | (77,865) | (25,742) | |||||||||
New Loans [Member] | Commercial real estate, Non-owner occupied | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
UPB, With a specific allowance recorded | 1,667 | 1,667 | ||||||||||
Related Specific Allowance, Impaired loans | 731 | 731 | ||||||||||
Non-Covered [Domain] | 1-4 single family residential | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 4,910 | 868 | 301 | |||||||||
Recorded Investment, With no specific allowance recorded | 5,724 | 120 | 5,724 | 120 | ||||||||
Recorded Investment, With a specific allowance recorded | 1,966 | 1,114 | 1,966 | 1,114 | ||||||||
UPB, With no specific allowance recorded | 5,605 | 122 | 5,605 | 122 | ||||||||
UPB, With a specific allowance recorded | 1,941 | 1,090 | 1,941 | 1,090 | ||||||||
Related Specific Allowance, Impaired loans | 134 | 63 | 134 | 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 | |||||||||
Non-Covered [Domain] | Residential and Other Consumer | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 4,910 | 868 | 301 | |||||||||
Non-Covered [Domain] | Commercial real estate, Non-owner occupied | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Recorded Investment, With a specific allowance recorded | 1,666 | 0 | 1,666 | 0 | ||||||||
UPB, With a specific allowance recorded | 0 | 0 | ||||||||||
Related Specific Allowance, Impaired loans | 0 | 0 | ||||||||||
Non-Covered [Domain] | Commercial | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 116,659 | |||||||||||
Non-ACI Loans, Covered [Member] | 1-4 single family residential | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 1,743 | 2,345 | 3,067 | |||||||||
Recorded Investment, With no specific allowance recorded | 0 | 1,061 | 0 | 1,061 | ||||||||
Recorded Investment, With a specific allowance recorded | 0 | 1,160 | 0 | 1,160 | ||||||||
UPB, With no specific allowance recorded | 0 | 1,203 | 0 | 1,203 | ||||||||
UPB, With a specific allowance recorded | 0 | 1,314 | 0 | 1,314 | ||||||||
Related Specific Allowance, Impaired loans | 0 | 118 | 0 | 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 | 8,403 | 9,225 | |||||||||
Non-ACI Loans, Covered [Member] | Residential and Other Consumer | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Average recorded investment in impaired loans | 1,743 | 10,748 | 12,292 | |||||||||
Recorded Investment, Total | 0 | 2,221 | 0 | 2,221 | ||||||||
UPB, Total | 0 | 2,517 | 0 | 2,517 | ||||||||
Related Specific Allowance, Impaired loans | 0 | 118 | 0 | 118 | ||||||||
Covered [Member] | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Losses | 30 | 258 | 30 | 258 | ||||||||
Provision for loan losses | 752 | 1,358 | (1,681) | |||||||||
Allowance for Loan and Lease Losses, Write-offs | (1,200) | (3,327) | (1,216) | |||||||||
Covered [Member] | Residential and Other Consumer | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Losses | 30 | 258 | 30 | 258 | ||||||||
Provision for loan losses | 752 | 1,418 | (1,632) | |||||||||
Allowance for Loan and Lease Losses, Write-offs | (1,200) | (3,327) | (1,216) | |||||||||
Covered [Member] | Commercial | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | 0 | ||||||||
Provision for loan losses | 0 | (60) | (49) | |||||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | 0 | |||||||||
Non-Covered [Domain] | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Losses | 109,901 | 144,537 | 109,901 | 144,537 | ||||||||
Provision for loan losses | 25,173 | 67,389 | 52,592 | |||||||||
Allowance for Loan and Lease Losses, Write-offs | (65,884) | (77,866) | (25,894) | |||||||||
Non-Covered [Domain] | Residential and Other Consumer | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Losses | 10,758 | 10,462 | 10,758 | 10,462 | ||||||||
Provision for loan losses | 280 | 1,034 | (1,814) | |||||||||
Allowance for Loan and Lease Losses, Write-offs | (265) | (1) | (152) | |||||||||
Non-Covered [Domain] | Commercial | ||||||||||||
Financing Receivable Impaired [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Losses | $ 99,143 | $ 134,075 | 99,143 | 134,075 | ||||||||
Provision for loan losses | 24,893 | 66,355 | 54,406 | |||||||||
Allowance for Loan and Lease Losses, Write-offs | $ (65,619) | $ (77,865) | $ (25,742) |
Loans and Allowance for Loan_11
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 | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Document Fiscal Year Focus | 2,018 | |||
Average recorded investment in impaired loans | $ 174,598 | $ 203,452 | $ 116,960 | |
1-4 single family residential | Non-ACI Loans, Covered [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 1,743 | 2,345 | 3,067 | |
1-4 single family residential | Non-Covered [Domain] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 4,910 | 868 | 301 | |
Home equity loans and lines of credit | ACI loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | $ 3,900 | |||
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 | 8,403 | 9,225 | |
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 | |
Residential and Other Consumer | Non-ACI Loans, Covered [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 1,743 | 10,748 | 12,292 | |
Residential and Other Consumer | Non-Covered [Domain] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 4,910 | 868 | 301 | |
Multi-family | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 25,679 | 4,259 | 0 | |
Commercial real estate, Non-owner occupied | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 14,106 | 5,537 | 710 | |
Construction and land | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 6,551 | 2,789 | 797 | |
Commercial real estate, Owner occupied | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 16,207 | 19,882 | 14,645 | |
Taxi medallion [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 79,786 | 108,977 | 45,012 | |
Other Commercial and industrial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 17,602 | 38,275 | 40,443 | |
Commercial Lending Subsidiaries | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 9,757 | 22,865 | 15,052 | |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | $ 169,688 | $ 202,584 | ||
Commercial | Non-Covered [Domain] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | $ 116,659 |
Loans and Allowance for Loan_12
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 | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 129,243 | $ 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 | 6,316 | 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 | 0 | 1,341 |
Other Consumer Loans | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 288 | 821 |
Residential and Other Consumer | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,604 | 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 | 0 | 1,341 |
Multi-family | New Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 25,560 | 0 |
Commercial real estate, Non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 16,050 | 12,716 |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,923 | 1,175 |
Commercial real estate, Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 19,789 | 29,020 |
Taxi medallion [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 775 | 106,067 |
Other Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 27,809 | 7,049 |
Commercial Lending Subsidiaries | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 22,733 | 3,512 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 122,639 | $ 159,539 |
Loans and Allowance for Loan_13
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 | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 21,775,632 | $ 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 | 4,463,544 | 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 | 400,665 | 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 | 471,241 | 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 | 779,057 | 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 | 2,812,581 | 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 | 1,241,125 | 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 | 105,812 | 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 | 123,877 | 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 | 197,492 | 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 | 813,944 | 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 | 998,379 | 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 | 120,982 | 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 | 109,207 | 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 | 170,531 | 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 | 597,659 | 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 | 1,998,442 | 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 | 156,519 | 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 | 203,121 | 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 | 374,311 | 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 | 1,264,491 | 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 | 225,598 | 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 | 17,352 | 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 | 35,036 | 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 | 36,723 | 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 | $ 136,487 | $ 121,689 |
Loans and Allowance for Loan_14
Loans and Allowance for Loan and Lease Losses (Schedule of Commercial Credit Exposure Based on Internal Risk Ratings) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 21,775,632 | $ 20,913,386 |
Multi-family | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,585,421 | 3,218,953 |
Multi-family | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,547,835 | 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 | 2,932 | 34,837 |
Multi-family | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 34,654 | 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 | 4,688,880 | 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 | 4,611,029 | 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 | 16,516 | 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 | 61,335 | 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 | 226,840 | 310,484 |
Construction and land | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 216,917 | 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 | 9,923 | 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 | 2,119,880 | 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 | 2,077,611 | 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 | 13,368 | 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 | 28,901 | 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 | 775 | 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 | 775 | 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 | 4,789,425 | 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 | 4,706,666 | 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 | 38,097 | 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 | 42,916 | 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 | 1,746 | 1,918 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,462,655 | 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 | 1,462,655 | 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 | 1,154,143 | 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 | 1,105,821 | 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 | 10,157 | 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 | 31,522 | 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 | 6,643 | 0 |
Commercial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 17,028,019 | 16,717,306 |
Commercial | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 16,728,534 | 16,189,392 |
Commercial | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 81,070 | 183,234 |
Commercial | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 210,026 | 338,405 |
Commercial | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 8,389 | $ 6,275 |
Loans and Allowance for Loan_15
Loans and Allowance for Loan and Lease Losses (Schedule of Financing Receivables Past Due) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable Investment Past Due [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Loans, Current | $ 21,475,490 | $ 20,840,121 |
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 21,775,632 | 20,913,386 |
Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 15,947 | 19,958 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 15,947 | 20,473 |
Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 2,585,421 | 3,218,953 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,585,421 | 3,218,953 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 4,682,443 | 4,464,967 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,688,880 | 4,474,801 |
Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 224,828 | 309,309 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 226,840 | 310,484 |
Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 2,106,104 | 2,004,397 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 2,119,880 | 2,012,742 |
Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 155 | 88,394 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 775 | 106,067 |
Other Commercial and industrial [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 4,772,823 | 4,025,784 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,789,425 | 4,031,760 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,462,655 | 1,524,622 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,462,655 | 1,524,622 |
Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,152,312 | 1,037,025 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,154,143 | 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 | 40 | 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 | 4,440,061 | 4,121,624 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 4,463,544 | 4,145,879 |
Non-Covered [Domain] | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,393 | 1,633 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 1,393 | 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 | 11,153 | 24,050 |
Non-ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 11,153 | 21,106 |
Covered loans net of premiums, discounts and deferred fees and costs | 11,153 | 24,050 |
Non-ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 11,153 | 21,106 |
Covered loans net of premiums, discounts and deferred fees and costs | 11,153 | 24,050 |
ACI Loans, Covered [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | 190,223 | 479,068 |
ACI Loans, Covered [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 189,557 | 448,125 |
Covered loans net of premiums, discounts and deferred fees and costs | 190,223 | 479,068 |
ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 189,557 | 448,125 |
Covered loans net of premiums, discounts and deferred fees and costs | 190,223 | 479,068 |
30 - 59 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 37,776 | 37,292 |
30 - 59 Days Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 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 | 3,621 | 7,549 |
30 - 59 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 916 | 0 |
30 - 59 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 2,826 | 1,292 |
30 - 59 Days Past Due | Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 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 | 6,732 | 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 | 603 | 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 | 14,736 | 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 | 0 | 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 | 0 | 1,603 |
30 - 59 Days Past Due | Non-ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 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 | 334 | 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 | 334 | 10,388 |
60 - 89 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 14,096 | 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 | 1,374 | 0 |
60 - 89 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
60 - 89 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,087 | 499 |
60 - 89 Days Past Due | Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 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 | 926 | 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 | 1,838 | 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 | 0 | 0 |
60 - 89 Days Past Due | Non-ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 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 | 288 | 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 | 288 | 2,719 |
90 Days or More Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 248,270 | 25,756 |
90 Days or More Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 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 | 1,442 | 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 | 9,863 | 6,554 |
90 Days or More Past Due | Taxi medallion [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 620 | 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 | 8,944 | 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 | 6,909 | 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 | 0 | 1,341 |
90 Days or More Past Due | Non-ACI Loans, Covered [Member] | Residential Mortgage [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 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 | 44 | 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 | 44 | 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 | 31,348 | 23,455 |
Non-covered loans, net of premiums, discounts and deferred fees and costs | 266,729 | 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 | 8,342 | 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 | 8,871 | 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 | $ 218,168 | $ 1,855 |
Loans and Allowance for Loan_16
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Schedule of Loan Concentrations by States) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 21,775,632 | $ 20,913,386 |
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | 503,118 |
Loans net of premiums, discounts and deferred fees and costs | 21,977,008 | 21,416,504 |
1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans net of premiums, discounts and deferred fees and costs | $ 4,664,920 | $ 4,648,997 |
Percent of loans by state | 100.00% | 100.00% |
1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 4,463,544 | $ 4,145,879 |
Percent of loans by state | 100.00% | 100.00% |
1-4 single family residential | Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 201,376 | $ 503,118 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | 17,028,019 | 16,717,306 |
California [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans net of premiums, discounts and deferred fees and costs | $ 1,177,221 | $ 1,117,827 |
Percent of loans by state | 25.20% | 24.00% |
California [Member] | 1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 1,172,470 | $ 1,094,047 |
Percent of loans by state | 26.30% | 26.40% |
California [Member] | 1-4 single family residential | Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 4,751 | $ 23,780 |
New York [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans net of premiums, discounts and deferred fees and costs | $ 977,146 | $ 888,178 |
Percent of loans by state | 20.90% | 19.10% |
New York [Member] | 1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 971,121 | $ 871,331 |
Percent of loans by state | 21.80% | 21.00% |
New York [Member] | 1-4 single family residential | Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 6,025 | $ 16,847 |
New York [Member] | Commercial Portfolio Segment [Member] | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percent of loans by state | 32.50% | 36.40% |
Florida [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans net of premiums, discounts and deferred fees and costs | $ 645,020 | $ 807,936 |
Percent of loans by state | 13.80% | 17.40% |
Florida [Member] | 1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 520,427 | $ 526,540 |
Percent of loans by state | 11.70% | 12.70% |
Florida [Member] | 1-4 single family residential | Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 124,593 | $ 281,396 |
Florida [Member] | Commercial Portfolio Segment [Member] | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percent of loans by state | 44.80% | 43.40% |
DISTRICT OF COLUMBIA | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans net of premiums, discounts and deferred fees and costs | $ 183,211 | $ 171,435 |
Percent of loans by state | 3.90% | 3.70% |
DISTRICT OF COLUMBIA | 1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 182,399 | $ 169,502 |
Percent of loans by state | 4.10% | 4.10% |
DISTRICT OF COLUMBIA | 1-4 single family residential | Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 812 | $ 1,933 |
Virginia [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans net of premiums, discounts and deferred fees and costs | $ 184,756 | $ 204,202 |
Percent of loans by state | 4.00% | 4.40% |
Virginia [Member] | 1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 179,132 | $ 181,912 |
Percent of loans by state | 4.00% | 4.40% |
Virginia [Member] | 1-4 single family residential | Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 5,624 | $ 22,290 |
Others [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans net of premiums, discounts and deferred fees and costs | $ 1,497,566 | $ 1,459,419 |
Percent of loans by state | 32.20% | 31.40% |
Others [Member] | 1-4 single family residential | Non-Covered [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-covered loans, net of premiums, discounts and deferred fees and costs | $ 1,437,995 | $ 1,302,547 |
Percent of loans by state | 32.10% | 31.40% |
Others [Member] | 1-4 single family residential | Covered [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 59,571 | $ 156,872 |
Loans and Allowance for Loan_17
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Schedule of Troubled Debt Restructurings) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Document Fiscal Year Focus | 2,018 | ||
Non-Covered [Domain] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 47 | 124 | 93 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 20,116 | $ 78,438 | $ 100,279 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 21 | 13 | 19 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 5,655 | $ 3,320 | $ 13,130 |
Non-Covered [Domain] | 1-4 single family residential | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 36 | 7 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,462 | $ 676 | $ 326 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 18 | 5 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,489 | $ 595 | $ 0 |
Non-Covered [Domain] | Multi-family | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 23,173 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | ||
Non-Covered [Domain] | Commercial real estate, Non-owner occupied | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 3 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,932 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,949 | ||
Non-Covered [Domain] | Commercial real estate, Owner occupied | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | 3 | 3 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,076 | $ 4,685 | $ 5,117 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | $ 491 |
Non-Covered [Domain] | Taxi medallion [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 110 | 74 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 48,526 | $ 64,854 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 8 | 15 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,725 | $ 8,657 | |
Non-Covered [Domain] | Other Commercial and industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 6 | 2 | 8 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,646 | $ 1,378 | $ 23,247 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 217 | $ 0 | $ 1,482 |
Non-Covered [Domain] | Commercial Lending Subsidiaries | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 6 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,735 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,500 | ||
Non-ACI Loans, Covered [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 17 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,016 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 370 | ||
ACI Loans, Covered [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 825 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 |
FDIC Indemnification Asset (Gai
FDIC Indemnification Asset (Gains and Losses Associated with Covered Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Guarantor Obligations [Line Items] | |||||||||||
Provision for loan losses | $ (12,583) | $ (1,200) | $ (8,995) | $ (3,147) | $ (5,174) | $ (37,854) | $ (13,619) | $ (12,100) | $ (25,925) | $ (68,747) | $ (50,911) |
Income from resolution of covered assets, net | 11,551 | 27,450 | 36,155 | ||||||||
Gain on sale of loans, net | 15,864 | 27,589 | (4,406) | ||||||||
Covered [Member] | |||||||||||
Guarantor Obligations [Line Items] | |||||||||||
Provision for loan losses | (235) | (261) | (752) | (1,358) | 1,681 | ||||||
Income from resolution of covered assets, net | 11,551 | 27,450 | 36,155 | ||||||||
Gain on sale of loans, net | $ 993 | $ 0 | 5,732 | 17,406 | (14,470) | ||||||
Gains (Losses) on Sales of Covered OREO | (1,620) | (203) | (1,301) | ||||||||
Gain (Loss) Associated With Covered Assets | 14,911 | 43,295 | 22,065 | ||||||||
Covered [Member] | Net Loss on FDIC Indemnification | |||||||||||
Guarantor Obligations [Line Items] | |||||||||||
Provision for loan losses | 523 | 1,039 | (1,472) | ||||||||
Income from resolution of covered assets, net | (9,332) | (21,912) | (28,946) | ||||||||
Gain on sale of loans, net | 3,388 | (1,514) | 11,615 | ||||||||
Gains (Losses) on Sales of Covered OREO | 1,222 | 167 | 1,044 | ||||||||
Gain (Loss) Associated With Covered Assets | (4,199) | (22,220) | (17,759) | ||||||||
Covered [Member] | Net Impact on Pre-tax Earnings | |||||||||||
Guarantor Obligations [Line Items] | |||||||||||
Provision for loan losses | (229) | (319) | 209 | ||||||||
Income from resolution of covered assets, net | 2,219 | 5,538 | 7,209 | ||||||||
Gain on sale of loans, net | 9,120 | 15,892 | (2,855) | ||||||||
Gains (Losses) on Sales of Covered OREO | (398) | (36) | (257) | ||||||||
Gain (Loss) Associated With Covered Assets | $ 10,712 | $ 21,075 | $ 4,306 |
FDIC Indemnification Asset (Cha
FDIC Indemnification Asset (Changes in the FDIC Indemnification Asset) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
FDIC Indemnification Asset [Roll Forward] | |||
FDIC Indemnification Asset and Liability, net | $ 295,635 | $ 515,910 | $ 739,843 |
Amortization of FDIC indemnification asset | (261,763) | (176,466) | (160,091) |
FDIC Indemnification Asset, Cash Payments Received | (29,673) | (21,589) | (46,083) |
Net gain (loss) on FDIC indemnification | (4,199) | (22,220) | (17,759) |
FDIC Indemnification Asset and Liability, net | $ 0 | $ 295,635 | $ 515,910 |
FDIC Indemnification Asset (Bal
FDIC Indemnification Asset (Balance Sheet) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
FDIC Indemnification Asset [Abstract] | ||||
FDIC indemnification asset | $ 0 | $ 295,635 | ||
FDIC Indemnification Asset and Liability, net | $ 0 | $ 295,635 | $ 515,910 | $ 739,843 |
Equipment Under Operating Lea_3
Equipment Under Operating Lease (Schedule of Equipment Under Operating Lease) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Leases [Abstract] | |||
Property Subject to or Available for Operating Lease, Gross | $ 802,302 | $ 674,434 | |
Property Subject to or Available for Operating Lease, Accumulated Depreciation | (99,948) | (74,932) | |
Property Subject to or Available for Operating Lease, Net | 702,354 | 599,502 | |
Impairment of equipment under operating lease | $ 0 | $ 0 | $ 4,100 |
Equipment Under Operating Lea_4
Equipment Under Operating Lease (Schedule of Future Minimum Rental Payments) (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Years Ending December 31: | |
Operating Leases, Future Minimum Payments Receivable, Current | $ 65,201 |
Operating Leases, Future Minimum Payments Receivable, in Two Years | 59,512 |
Operating Leases, Future Minimum Payments Receivable, in Three Years | 49,987 |
Operating Leases, Future Minimum Payments Receivable, in Four Years | 43,482 |
Operating Leases, Future Minimum Payments Receivable, in Five Years | 35,342 |
Operating Leases, Future Minimum Payments, Due Thereafter | 100,170 |
Operating Leases, Future Minimum Payments Receivable | $ 353,694 |
Premises and Equipment and Le_2
Premises and Equipment and Lease Commitments (Summary of Premises and Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 207,389 | $ 200,496 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (135,743) | (121,477) |
Property, Plant and Equipment, Net | 71,646 | 79,019 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 18,793 | 18,793 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 69,651 | 70,298 |
Furniture, Fixtures And Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 36,581 | 35,675 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 22,218 | 21,078 |
Software and software licensing rights | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 47,653 | 42,908 |
Aircraft and automobiles | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 11,614 | 11,744 |
Capitalized implementation costs of CCA | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 879 | $ 0 |
Premises and Equipment and Le_3
Premises and Equipment and Lease Commitments (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment, Type [Abstract] | |||
Amount included buildings and improvements recorded under capital lease | $ 11 | $ 11 | |
Depreciation, Nonproduction | 18.5 | 19.4 | $ 21.3 |
Operating Leases, Rent Expense, Net | $ 26 | $ 27.5 | $ 27.6 |
Premises and Equipment and Le_4
Premises and Equipment and Lease Commitments (Schedule of Future Minimum Rentals Under Non-Cancelable Operating Leases) (Details) - Land and Building [Member] $ in Thousands | Dec. 31, 2018USD ($) |
Operating Leased Assets [Line Items] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 21,207 |
Operating Leases, Future Minimum Payments, Due in Two Years | 17,629 |
Operating Leases, Future Minimum Payments, Due in Three Years | 15,858 |
Operating Leases, Future Minimum Payments, Due in Four Years | 12,114 |
Operating Leases, Future Minimum Payments, Due in Five Years | 10,311 |
Operating Leases, Future Minimum Payments, Due Thereafter | 42,984 |
Operating Leases, Future Minimum Payments Due | $ 120,103 |
Deposits (Summary of Average Ba
Deposits (Summary of Average Balances and Weighted Average Rates Paid on Deposits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Demand deposits: | |||
Non-interest bearing, average balance | $ 3,389,191 | $ 3,069,565 | $ 2,968,192 |
Non-interest bearing, average rate (in Percent) | 0.00% | 0.00% | 0.00% |
Interest bearing, average balance | $ 1,627,828 | $ 1,586,390 | $ 1,382,717 |
Interest-bearing, average rate (in Percent) | 1.13% | 0.81% | 0.60% |
Money market, average balance | $ 10,350,772 | $ 9,364,498 | $ 7,946,447 |
Weighted Average Rate Domestic Deposit, Money Market | 1.41% | 0.85% | 0.64% |
Savings, average balance | $ 284,198 | $ 365,603 | $ 415,205 |
Weighted Average Rate Domestic Deposit, Savings | 0.26% | 0.21% | 0.23% |
Time, average balance | $ 6,617,006 | $ 6,094,336 | $ 5,326,630 |
Weighted Average Rate Domestic Deposit, Time Deposits | 1.81% | 1.27% | 1.12% |
Total, average balance | $ 22,268,995 | $ 20,480,392 | $ 18,039,191 |
Weighted Average Rate, Interest-bearing Domestic Deposits, Point in Time | 1.28% | 0.83% | 0.66% |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Billions | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Time Deposits, $100,000 or More | $ 4.1 | |
Time deposit accounts with balances of $250,000 or more | 2.4 | $ 2.3 |
Public funds deposits included in deposits | 2.6 | |
Interest-bearing Domestic Deposit, Brokered | 2.5 | |
Carrying value of investment securities available for sale pledged as security for public funds deposits | $ 1.3 |
Deposits (Schedule of Maturitie
Deposits (Schedule of Maturities of Time Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Time Deposit Maturities, Next Twelve Months | $ 5,119,279 | |
Time Deposit Maturities, Year Two | 1,533,117 | |
Time Deposit Maturities, Year Three | 94,973 | |
Time Deposit Maturities, Year Four | 22,316 | |
Time Deposit Maturities, after Year Five | 50,073 | |
Time Deposits | $ 6,819,758 | $ 6,334,842 |
Deposits (Schedule of Interest
Deposits (Schedule of Interest Expense on Deposits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Deposits [Abstract] | |||
Interest Expense, Demand Deposit Accounts | $ 18,391 | $ 12,873 | $ 8,343 |
Interest Expense, Money Market Deposits | 145,585 | 79,645 | 50,802 |
Interest Expense, Savings Deposits | 739 | 752 | 972 |
Interest Expense, Time Deposits | 119,848 | 77,663 | 59,656 |
Interest Expense, Domestic Deposits | $ 284,563 | $ 170,933 | $ 119,773 |
Federal Home Loan Bank Advanc_4
Federal Home Loan Bank Advances and Other Borrowings (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Debt Instrument [Line Items] | |
Percent of outstanding FHLB Advances of which the sum of qualifying first mortgages, CRE loans, Home equity lines and credit and mortgage-backed securities pledged must equal (in Percent) | 100.00% |
Pledged Financial Instruments, Not Separately Reported, Securities for Federal Home Loan Bank | $ 10,200 |
Debt Instrument, Interest Rate, Effective Percentage | 5.12% |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 3,700 |
Federal Reserve Bank Advances [Member] | |
Debt Instrument [Line Items] | |
Unused borrowing capacity at FRB | 410 |
Federal Funds Lines of Credit [Member] | |
Debt Instrument [Line Items] | |
Unused Borrowing Capacity - Fed Funds lines of credit | $ 85 |
Federal Home Loan Bank Advanc_5
Federal Home Loan Bank Advances and Other Borrowings (Schedule of Outstanding FHLB Advances) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Maturing in Next Twelve Months - One month or less | $ 2,325,000 | |
Maturing in Next Twelve Months - One month or less, Weighted Average Rate (in Percent) | 2.41% | |
Maturing in Next Twelve Months - Over one month | $ 1,821,000 | |
Maturing in Next Twelve Months - Over one month, Weighted Average Rate (in Percent) | 2.58% | |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Two | $ 375,000 | |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, One to Two Years from Balance Sheet Date | 2.49% | |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Three | $ 275,000 | |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, Two to Three Years from Balance Sheet Date | 2.89% | |
Advances from Federal Home Loan Banks | $ 4,796,000 | $ 4,771,000 |
Minimum | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Maturing in Next Twelve Months - One month or less, range of interest rates (in Percent) | 2.24% | |
Maturing in Next Twelve Months - Over one month, range of interest rates (in Percent) | 1.46% | |
Maturing in Year Two, range of interest rates (in Percent) | 1.67% | |
Maturing in Year Three, range of interest rates (in Percent) | 2.73% | |
Maximum | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Maturing in Next Twelve Months - One month or less, range of interest rates (in Percent) | 2.53% | |
Maturing in Next Twelve Months - Over one month, range of interest rates (in Percent) | 2.76% | |
Maturing in Year Two, range of interest rates (in Percent) | 2.91% | |
Maturing in Year Three, range of interest rates (in Percent) | 3.02% |
Federal Home Loan Bank Advanc_6
Federal Home Loan Bank Advances, Notes and Other Borrowings Long-Term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
Long-term Debt, Gross | $ 400,000 | $ 400,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 4.875% | |
Debt Instrument, Unamortized Discount | $ 5,610 | 6,275 |
Long-term Debt | 394,390 | 393,725 |
Capital Lease Obligations | 8,359 | 9,105 |
Long-term Debt and Capital Lease Obligations | $ 402,749 | $ 402,830 |
Income Taxes Schedule of Compon
Income Taxes Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||||||||||
Current Federal Tax Expense (Benefit) | $ 2,172 | $ (251,880) | $ 51,806 | ||||||||
Current State and Local Tax Expense (Benefit) | 20,834 | (15,733) | 27,708 | ||||||||
Current Income Tax Expense (Benefit) | 23,006 | (267,613) | 79,514 | ||||||||
Deferred Federal Income Tax Expense (Benefit) | 51,303 | 46,377 | 35,045 | ||||||||
Deferred State and Local Income Tax Expense (Benefit) | 16,475 | 11,424 | (4,856) | ||||||||
Deferred income taxes | 67,778 | 57,801 | 30,189 | ||||||||
Provision (benefit) for income taxes | $ 16,717 | $ 21,377 | $ 27,094 | $ 25,596 | $ (298,872) | $ 32,252 | $ 29,021 | $ 27,787 | $ 90,784 | $ (209,812) | $ 109,703 |
Income Taxes (Schedule of Effec
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||||||||||
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ 87,286 | $ 141,561 | $ 117,405 | ||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | ||||||||
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount | $ (18,923) | $ (29,511) | $ (23,215) | ||||||||
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent | (4.55%) | (7.30%) | (6.92%) | ||||||||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | $ 31,182 | $ 19,332 | $ 15,894 | ||||||||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 7.50% | 4.78% | 4.74% | ||||||||
Discrete Income Tax Benefit | $ 0 | $ (327,945) | $ 0 | ||||||||
Effective Income Tax Rate Reconciliation, Discrete Tax Benefit | 0.00% | (81.08%) | 0.00% | ||||||||
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | $ (8,761) | $ (13,249) | $ (381) | ||||||||
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | (2.11%) | (3.27%) | (0.12%) | ||||||||
Provision (benefit) for income taxes | $ 16,717 | $ 21,377 | $ 27,094 | $ 25,596 | $ (298,872) | $ 32,252 | $ 29,021 | $ 27,787 | $ 90,784 | $ (209,812) | $ 109,703 |
Effective Income Tax Rate Reconciliation, Percent | 21.84% | (51.87%) | 32.70% |
Income Taxes (Schedule of Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Excess of tax basis over carrying value of acquired loans | $ 52,341 | $ 66,395 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | 25,599 | 33,309 |
Deferred Tax Assets, Operating Loss Carryforwards | 17,209 | 15,892 |
Deferred Tax Assets, Other | 33,330 | 31,859 |
Deferred Tax Assets, Gross | 128,479 | 147,455 |
Deferred tax liabilities: | ||
Net unrealized gains on investment securities available for sale | 1,757 | 24,657 |
Deferred Tax Liabilities, Leasing Arrangements | 167,856 | 113,161 |
Deferred Tax Liabilities, Other | 9,195 | 13,468 |
Deferred Tax Liabilities, Gross | 178,808 | 151,286 |
Deferred Tax Liabilities, Net | $ (50,329) | $ (3,831) |
Income Taxes (Schedule of Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits, Roll Forward) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||||
Unrecognized Tax Benefits | $ 116,081 | $ 59,220 | $ 72,736 | $ 43,412 |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 2,399 | 1,882 | 2,713 | |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 77,101 | 1,661 | 25,168 | |
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | (26,037) | (15,316) | 0 | |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 0 | 0 | (200) | |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | (675) | (2,229) | 0 | |
Unrecognized Tax Benefits, Period Increase (Decrease) | 112,008 | 58,734 | 71,093 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 4,073 | $ 486 | $ 1,643 |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ (3,700) | ||
Amortization Method Qualified Affordable Housing Project Investments | 64,094 | $ 63,846 | |
Qualified Affordable Housing Project Investments, Commitment | 21,000 | 26,000 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 78,000 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 78,200 | 43,600 | $ 45,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 6,500 | 3,200 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, net of tax | 3,200 | 300 | $ 1,100 |
State and Local Jurisdiction [Member] | |||
Discrete Income Tax Benefit - Estimated Income Tax Refund | 24,200 | ||
Operating Loss Carryforwards | 108,800 | ||
Tax Credit Carryforward, Amount | 10,900 | ||
Internal Revenue Service (IRS) [Member] | |||
Discrete Income Tax Benefit - Estimated Income Tax Refund | 295,000 | ||
Discrete Income Tax Benefit - Interest on Estimated Income Tax Refund | $ 8,700 | ||
Operating Loss Carryforwards | 7,600 | ||
Maximum [Member] | State and Local Jurisdiction [Member] | |||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 42,800 | ||
Minimum | State and Local Jurisdiction [Member] | |||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 0 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Discontinuation of cash flow hedge, notional amount | $ 0 | $ 0 |
Financial collateral pledged for interest rate swaps | 400,000 | |
Fair value of Interest rate derivative contracts cleared through the CME | 0 | |
Amount expected to be reclassified from AOCI into income | (7,900,000) | |
Financial collateral pledged by counterparties to Company | (15,000,000) | |
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 | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivatives Fair Value [Line Items] | ||
Notional amount of interest rate derivatives | $ 5,139,206 | $ 4,392,790 |
Interest rate derivative assets, fair value | 29,615 | 27,627 |
Interest rate derivative liabilities, fair value | $ (23,874) | $ (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) | 2.38% | 1.77% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 4 years 18 days | 4 years 3 months 23 days |
Notional amount of interest rate derivatives | $ 2,846,000 | $ 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 | $ 3,405 | $ 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) | 4.10% | 3.87% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 5 years 11 months 14 days | 6 years 4 months 19 days |
Notional amount of interest rate derivatives | $ 1,048,196 | $ 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 | (6,991) | (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 | $ 14,883 | $ 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) | 4.10% | 3.87% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 5 years 11 months 14 days | 6 years 4 months 19 days |
Notional amount of interest rate derivatives | $ 1,048,196 | $ 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 | (16,874) | (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 | $ 11,318 | $ 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) | 3.43% | 2.81% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 1 year 2 months 2 days | 1 year 3 months 29 days |
Notional amount of interest rate derivatives | $ 98,407 | $ 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 | $ 9 | $ 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) | 3.43% | 2.81% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 1 year 2 months 2 days | 1 year 3 months 29 days |
Notional amount of interest rate derivatives | $ 98,407 | $ 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 | $ (9) | $ (11) |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities (Interest Rate Swaps Subject to Master Netting Agreements) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Gross Amounts Recognized, Derivative assets | $ 18,297 | $ 13,217 |
Gross Amounts Recognized, Derivative liabilities | (6,991) | (13,173) |
Gross Amounts Recognized, Derivative assets and liabilities | 11,306 | 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 | 18,297 | 13,217 |
Net Amounts Presented in Balance Sheet, Derivative liabilities | (6,991) | (13,173) |
Net Amounts Presented in Balance Sheet, Derivative assets and liabilities | 11,306 | 44 |
Gross Amounts Not Offset in Balance Sheet | ||
Derivative Instruments, Derivative assets | (5,264) | (7,996) |
Derivative Instruments, Derivative liabilities | 5,264 | 7,996 |
Derivative Instruments, Derivative assets and liabilities | 0 | 0 |
Collateral Pledged, Derivative assets | (13,129) | (5,221) |
Collateral Pledged, Derivative liabilities | 436 | 4,962 |
Collateral Pledged, Derivative assets and liabilities | (12,693) | (259) |
Net Amount, Derivative assets | (96) | 0 |
Net Amount, Derivative liabilities | (1,291) | (215) |
Net Amount, Derivative assets and liabilities | $ (1,387) | $ (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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | $ 1,999 | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion | $ (9,621) | $ (16,161) |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 23, 2019 | Dec. 31, 2018 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1,834,160 | |
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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unrealized gains on investment securities available for sale: | |||
Net unrealized holding gain (loss) arising during the period, Before Tax | $ (77,607) | $ 49,131 | $ 23,588 |
Amounts reclassified to gain on investment securities available for sale, net, Before Tax | (6,103) | (33,466) | (14,461) |
Net change in unrealized gains on securities available for sale, Before Tax | (83,710) | 15,665 | 9,127 |
Net unrealized holding gain (loss) arising during the period, Tax Effect | 20,566 | (19,407) | (9,317) |
Amounts reclassified to gain on investment securities available for sale, net, Tax Effect | 1,617 | 13,219 | 5,712 |
Net change in unrealized gains on securities available for sale, Tax Effect | 22,183 | (6,188) | (3,605) |
Net unrealized holding gain (loss) arising during the period, Net of Tax | (57,041) | 29,724 | 14,271 |
Amounts reclassified to gain on investment securities available for sale, net, Net of Tax | (4,486) | (20,247) | (8,749) |
Net change in unrealized gain on securities available for sale | (61,527) | 9,477 | 5,522 |
Unrealized losses on derivative instruments: | |||
Net unrealized holding gain (loss) arising during the period, Before Tax | 5,416 | (2,577) | 6,225 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | (1,999) | 9,621 | 16,161 |
Net change in unrealized losses on derivative instruments, Before Tax | 3,417 | 7,044 | 22,386 |
Net unrealized holding gain (loss) arising during the period, Tax Effect | (1,435) | 1,018 | (2,459) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 530 | (3,800) | (6,384) |
Net change in unrealized losses on derivative instruments, Tax Effect | (905) | (2,782) | (8,843) |
Net unrealized holding gain (loss) arising during the period, Net of Tax | 3,981 | (1,559) | 3,766 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (1,469) | 5,821 | 9,777 |
Net change in unrealized gains on derivative instruments | 2,512 | 4,262 | 13,543 |
Other comprehensive income (loss), Before Tax | (80,293) | 22,709 | 31,513 |
Other comprehensive income (loss), Tax Effect | 21,278 | (8,970) | (12,448) |
Other comprehensive income (loss) | $ (59,015) | $ 13,739 | $ 19,065 |
Stockholders' Equity (Categorie
Stockholders' Equity (Categories of Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Other comprehensive income, Beginning Balance | $ 54,986 | $ 41,247 | $ 22,182 |
Other comprehensive income (loss) | (59,015) | 13,739 | 19,065 |
Other comprehensive income, Ending Balance | 4,873 | 54,986 | 41,247 |
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 | 41,535 |
Cumulative Effect of New Accounting Principle in Period of Adoption | 9,187 | ||
Other comprehensive income (loss) | (61,527) | 9,477 | 5,522 |
Other comprehensive income, Ending Balance | 4,194 | 56,534 | 47,057 |
Unrealized Losses on Derivative Instruments | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Other comprehensive income, Beginning Balance | (1,548) | (5,810) | (19,353) |
Cumulative Effect of New Accounting Principle in Period of Adoption | (285) | ||
Other comprehensive income (loss) | 2,512 | 4,262 | 13,543 |
Other comprehensive income, Ending Balance | 679 | $ (1,548) | $ (5,810) |
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 Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | $ 4,600 | $ 25,800 | $ 900 |
Document Fiscal Year Focus | 2,018 | ||
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 1,100 | $ 4,000 | $ 300 |
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 | $ 26,500 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 8 months 11 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 683,137 | 621,806 | 651,760 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 40.06 | $ 40.24 | $ 31 |
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 | 77,050 | ||
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 | 97,852 |
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 | $ 3,900 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 9 months 12 days | ||
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 5,500 | ||
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 | $ 2,300 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 1 day | ||
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 800 | ||
2010 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 118,847 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 7,500,000 | ||
2014 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,061,087 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,000,000 | ||
Deferred Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percent of elective deferrals which vest immediately (in Percent) | 100.00% | ||
Percent of matching contributions which vest upon the earlier of a defined change in control or the participant's death, disability, attainment of normal retirement age, or the completion of two years of service (in Percent) | 100.00% | ||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 1,271 | $ 1,500 | $ 1,500 |
Deferred Compensation Plan [Member] | Other Liabilities | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Deferred Compensation Liability, Current and Noncurrent | $ 24,000 | 21,000 | |
401(k) Plan, First 1% Of Eligible Compensation [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Deferred Compensation Arrangement with Individual, Cash Awards Granted, Percentage | 100.00% | ||
401(k) Plan, 2% To 6% Of Eligible Compensation [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Deferred Compensation Arrangement with Individual, Cash Awards Granted, Percentage | 70.00% | ||
401(k) Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Deferred Compensation Arrangement with Individual, Contributions by Employer | $ 6,300 | $ 5,500 | $ 5,200 |
Equity Based Compensation (Sche
Equity Based Compensation (Schedule of Compensation Costs Related to Equity Based Awards) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 23,240 | $ 22,792 | $ 18,367 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | (5,783) | (8,576) | (6,899) |
Allocated Share-based Compensation Expense, Net of Tax | 17,457 | 14,216 | 11,468 |
Unvested and restricted share awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 19,415 | 18,087 | 16,885 |
RSU and PSU Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 3,027 | 3,416 | 1,482 |
Incentive Compensation Arrangements [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 798 | $ 1,289 | $ 0 |
Equity Based Compensation (Sc_2
Equity Based Compensation (Schedule of Nonvested Share Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
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) | $ 33.44 | $ 33.21 | $ 29.78 | |
Range of the closing price on date of grant, maximum (in Dollars per Share) | $ 42.80 | $ 40.84 | $ 33.76 | |
Aggregate grant date fair value of shares vesting | $ 18,451 | $ 17,514 | $ 13,613 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 964,840 | 1,270,688 | 3,602,076 | 3,651,152 |
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 | 1,186,238 | 1,108,477 | 1,120,700 | 1,040,385 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 38.86 | $ 36.06 | $ 31.46 | $ 31.86 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 683,137 | 621,806 | 651,760 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 40.06 | $ 40.24 | $ 31 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (532,662) | (553,007) | (428,167) | |
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 | $ 31.79 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | (72,714) | (81,022) | (143,278) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 38.43 | $ 34.51 | $ 31.31 |
Equity Based Compensation Sched
Equity Based Compensation Schedule of Other Share-Based Compensation, Activity (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
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 | $ 26.5 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 683,137 | 621,806 | 651,760 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (532,662) | (553,007) | (428,167) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,186,238 | 1,108,477 | 1,120,700 | 1,040,385 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 38.86 | $ 36.06 | $ 31.46 | $ 31.86 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 40.06 | 40.24 | 31 | |
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 | $ 31.79 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | (72,714) | (81,022) | (143,278) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 38.43 | $ 34.51 | $ 31.31 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 8 months 11 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 | 97,852 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (52,585) | (35,238) | (19,291) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 90,612 | 91,171 | 78,561 | 0 |
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 | 57,873 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (57,873) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 99,874 | 105,721 | 57,873 | 0 |
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 | $ 3.9 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 9 months 12 days |
Equity Based Compensation (Sc_3
Equity Based Compensation (Schedule of Stock Options Activity) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Number of Option Awards | ||||
Exercised (in Shares) | (291,689) | (2,331,388) | (47,979) | |
Weighted Average Exercise Price | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 26.49 | $ 26.63 | $ 16.50 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | (14,159) | (1,097) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ 11.14 | $ 63.74 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 4.6 | $ 25.8 | $ 0.9 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 964,840 | 1,270,688 | 3,602,076 | 3,651,152 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 27.30 | $ 26.93 | $ 26.74 | $ 26.62 |
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 1.1 | $ 4 | $ 0.3 |
Equity Based Compensation (Sc_4
Equity Based Compensation (Schedule of Options Outstanding and Exercisable, Additional Information) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($)shares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | shares | 964,840 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 2 years 27 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 3,358 |
Exercise Price Range 11.14 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | shares | 3,910 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 8 months 22 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 74 |
Exercise Price Range 15.94-19.97 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | shares | 29,145 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 1 year 7 months 4 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 357 |
Exercise Price Range 22.18-22.31 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | shares | 40,917 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 2 years 5 months 3 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 314 |
Exercise Price 27.00 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | shares | 888,908 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 2 years 29 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 2,613 |
Exercise Price 63.74 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | shares | 1,960 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 2 months 4 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 0 |
Regulatory Requirements and R_3
Regulatory Requirements and Restrictions (Schedule of Compliance with Regulatory Capital Requirements Under Banking Regulations) (Details) $ / unit in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)$ / unit | Dec. 31, 2017USD ($) | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Document Fiscal Year Focus | 2,018 | |
Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Leverage Capital | $ 2,839,302 | $ 2,892,069 |
Tier One Leverage Capital to Average Assets | 8.99% | 9.72% |
Tier One Leverage Capital Required for Capital Adequacy | $ 1,263,725 | $ 1,189,944 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Common Equity Tier One Risk Based Capital | $ 2,839,302 | $ 2,892,069 |
Common Equity Tier One Risk Based Capital to Risk Weighted Assets | 12.57% | 13.11% |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized | $ 1,467,693 | $ 1,434,193 |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy | $ 1,016,095 | $ 992,903 |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% |
Tier One Risk Based Capital | $ 2,839,302 | $ 2,892,069 |
Tier One Risk Based Capital to Risk Weighted Assets | 12.57% | 13.11% |
Tier One Risk Based Capital Required to be Well Capitalized | $ 1,806,392 | $ 1,765,161 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | $ 1,354,794 | $ 1,323,871 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% |
Capital | $ 2,952,464 | $ 3,041,004 |
Capital to Risk Weighted Assets | 13.08% | 13.78% |
Capital Required to be Well Capitalized | $ 2,257,990 | $ 2,206,451 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Capital Required to be Well Capitalized to Risk Weighted Assets | $ 1,806,392 | $ 1,765,161 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital conservation buffer required for Common equity tier one | $ / unit | 1,580,593 | |
Capital conservation buffer required for Common equity tier one ratio | 7.00% | |
Capital conservation buffer required for tier one risk based | $ / unit | 1,919,291 | |
Capital conservation buffer required for tier one risk based ratio | 8.50% | |
Capital required under capital conservation buffer | $ / unit | 2,370,889 | |
Capital required under capital conservation buffer ratio | 10.50% | |
BankUnited [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Leverage Capital | $ 3,026,106 | $ 3,107,920 |
Tier One Leverage Capital to Average Assets | 9.60% | 10.47% |
Tier One Leverage Capital Required to be Well Capitalized | $ 1,575,712 | $ 1,483,796 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Tier One Leverage Capital Required for Capital Adequacy | $ 1,260,569 | $ 1,187,037 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Common Equity Tier One Risk Based Capital | $ 3,026,106 | $ 3,107,920 |
Common Equity Tier One Risk Based Capital to Risk Weighted Assets | 13.45% | 14.13% |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized | $ 1,462,054 | $ 1,429,999 |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy | $ 1,012,191 | $ 989,999 |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% |
Tier One Risk Based Capital | $ 3,026,106 | $ 3,107,920 |
Tier One Risk Based Capital to Risk Weighted Assets | 13.45% | 14.13% |
Tier One Risk Based Capital Required to be Well Capitalized | $ 1,799,451 | $ 1,759,999 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | $ 1,349,588 | $ 1,319,999 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% |
Capital | $ 3,139,268 | $ 3,255,221 |
Capital to Risk Weighted Assets | 13.96% | 14.80% |
Capital Required to be Well Capitalized | $ 2,249,314 | $ 2,199,999 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Capital Required to be Well Capitalized to Risk Weighted Assets | $ 1,799,451 | $ 1,759,999 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital conservation buffer required for Common equity tier one | 1,574,519 | |
Capital conservation buffer required for Common equity tier one ratio | 7.00% | |
Capital conservation buffer required for tier one risk based | $ / unit | 1,911,917 | |
Capital conservation buffer required for tier one risk based ratio | 8.50% | |
Capital required under capital conservation buffer | $ / unit | 2,361,779 | |
Capital required under capital conservation buffer ratio | 10.50% |
Regulatory Requirements and R_4
Regulatory Requirements and Restrictions (Narrative) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Banking and Thrift [Abstract] | |
Ratio that the FDIC indemnification asset and the covered assets are risk-weighted at (in Percent) | 20.00% |
FRB net reserve requirement | $ 148 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | $ 8,196,018 | $ 6,739,196 | |
Liabilities at fair value | 23,874 | 25,373 | |
Derivative Financial Instruments, Liabilities [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | 23,874 | 25,373 | |
US Treasury securities | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 39,873 | 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 | 1,897,474 | 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 | 374,787 | 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, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | (5,120) | (45,524) | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 1,319 | 25,547 | $ 0 |
Assets, fair value | 1,534,198 | 628,247 | |
Private label commercial mortgage-backed securities | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 1,485,716 | 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 | 402,458 | 562,706 | |
Collateralized loan obligations | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 1,235,198 | 723,681 | |
Non-mortgage asset-backed securities | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 204,067 | 121,747 | |
State and municipal obligations | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 398,429 | 657,203 | |
SBA securities | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 519,313 | 550,682 | |
Other debt securities | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 4,846 | 9,120 | |
Marketable equity securities | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 60,519 | 63,543 | |
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, Sales | (34,573) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 761 | (5,821) | $ (6,023) |
Assets, fair value | 9,525 | 30,737 | |
Derivative Financial Instruments, Assets [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 29,615 | 27,627 | |
Fair Value, Inputs, Level 1 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 100,392 | 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 | 39,873 | 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 | 60,519 | 63,543 | |
Fair Value, Inputs, Level 2 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 8,046,571 | 6,562,420 | |
Liabilities at fair value | 23,874 | 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 | 23,874 | 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 | 1,897,474 | 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 | 374,787 | 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 | 1,499,514 | 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 | 1,485,716 | 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 | 402,458 | 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 | 1,235,198 | 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 | 204,067 | 121,747 | |
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 | 398,429 | 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 | 519,313 | 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 | 3,791 | |
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 | |
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 | |
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 | 29,615 | 27,627 | |
Fair Value, Inputs, Level 3 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, fair value | 49,055 | 88,280 | |
Liabilities at fair value | 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 | |
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 | 34,684 | 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 | 4,846 | 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 | 9,525 | 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 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | $ 8,196,018 | $ 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 | 1,500 | 1,000 | $ 1,800 |
Assets, fair value | 9,525 | 30,737 | |
Other debt securities | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 4,846 | 9,120 | |
Private label residential mortgage-backed securities and CMOs | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 1,534,198 | 628,247 | |
Fair Value, Inputs, Level 3 | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 49,055 | 88,280 | |
Fair Value, Inputs, Level 3 | Servicing Rights [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 9,525 | 30,737 | |
Fair Value, Inputs, Level 3 | Other debt securities | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, fair value | 4,846 | 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 | 34,684 | $ 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 | $ 22,675 | ||
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) | 12.80% | ||
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 | $ 12,009 | ||
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) | 10.10% |
Fair Value Measurements (Change
Fair Value Measurements (Changes in the Fair Value of Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | $ 52,214 | $ 120,610 | $ 140,883 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 1,319 | 25,547 | 0 |
Gains (losses) for the period included in Other comprehensive income (loss) | (5,193) | (27,569) | (2,229) |
Amortization | 2,916 | 6,181 | 5,947 |
Sales | (5,120) | (45,524) | |
Settlements | (11,452) | (27,031) | (23,991) |
Balance at end of period, fair value of assets | 34,684 | 52,214 | 120,610 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) for assets held at end period | (3,724) | (3,345) | (2,229) |
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 | 5,329 | 4,572 | 4,532 |
Gains (losses) for the period included in Other comprehensive income (loss) | (289) | 766 | (9) |
Amortization | 809 | 280 | 116 |
Settlements | (1,003) | (289) | (67) |
Balance at end of period, fair value of assets | 4,846 | 5,329 | 4,572 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) for assets held at end period | (289) | 766 | (9) |
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 | 30,737 | 27,159 | 20,017 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 761 | (5,821) | (6,023) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 12,600 | 9,399 | 13,165 |
Sales | (34,573) | ||
Balance at end of period, fair value of assets | $ 9,525 | $ 30,737 | $ 27,159 |
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 | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Total fair value of assets | $ 8,196,018 | $ 6,739,196 |
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 | 4.30% | |
Probability rate of default | 0.00% | |
Loss severity | 15.00% | |
Fair Value Inputs, Discount Rate | 2.35% | |
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 | 5.85% | |
Loss severity | 100.00% | |
Fair Value Inputs, Discount Rate | 7.71% | |
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 | 12.28% | |
Probability rate of default | 1.03% | |
Loss severity | 18.84% | |
Fair Value Inputs, Discount Rate | 2.95% | |
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 | 1.06% | |
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 | 76.60% | |
Fair Value Inputs, Discount Rate | 9.95% | |
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 | 16.51% | |
Probability rate of default | 2.31% | |
Loss severity | 29.16% | |
Fair Value Inputs, Discount Rate | 4.91% | |
Commercial Servicing Rights [Member] | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Prepayment Rate | 2.82% | |
Fair Value Inputs, Discount Rate | 4.84% | |
Commercial Servicing Rights [Member] | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Prepayment Rate | 17.09% | |
Fair Value Inputs, Discount Rate | 17.07% | |
Commercial Servicing Rights [Member] | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Prepayment Rate | 12.34% | |
Fair Value Inputs, Discount Rate | 13.33% | |
Fair Value, Inputs, Level 3 | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Total fair value of assets | $ 49,055 | $ 88,280 |
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 | 22,675 | |
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 | 12,009 | |
Fair Value, Inputs, Level 3 | Commercial Servicing Rights [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Total fair value of assets | $ 9,525 |
Fair Value Measurements (Asse_2
Fair Value Measurements (Assets for which Nonrecurring Changes in Fair Value have been Recorded) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
OREO and Repossessed Assets [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 1,571 | $ 5,790 | $ 12,466 |
Losses from Nonrecurring Fair Value Changes | (1,864) | (2,078) | (1,156) |
OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 3 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 486 | 5,790 | 12,466 |
OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 2 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 1,085 | 0 | |
Impaired Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 36,172 | 93,051 | 78,121 |
Losses from Nonrecurring Fair Value Changes | (6,816) | (65,716) | (25,573) |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 35,397 | 93,051 | 78,121 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 775 | 0 | |
Equipment under operating lease | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 8,173 | ||
Losses from Nonrecurring Fair Value Changes | (4,100) | ||
Equipment under operating lease | Fair Value, Inputs, Level 3 | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 8,173 | ||
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 | (1,000) | (1,300) | (200) |
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, Fair Value Disclosure, Nonrecurring | 1,100 | 2,100 | 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 | (500) | (62,400) | (12,700) |
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, Fair Value Disclosure, Nonrecurring | $ 800 | $ 86,000 | $ 50,700 |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Value and Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 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 | $ 8,167,127 | $ 6,690,832 |
Non-marketable equity securities | 267,052 | 265,989 |
Loans and Leases Receivable, Net Amount | 21,665,731 | 20,768,849 |
FDIC indemnification asset | 0 | 295,635 |
Derivative assets | 96 | 0 |
Liabilities: | ||
Time Deposits | 6,819,758 | 6,334,842 |
Federal Funds Purchased | 175,000 | 0 |
Derivative liabilities | 1,291 | 215 |
Fair Value, Inputs, Level 1 | ||
Assets: | ||
Cash and cash equivalents | 382,073 | 194,582 |
Fair Value, Inputs, Level 2 | ||
Assets: | ||
Non-marketable equity securities | 267,052 | 265,989 |
Loans held for sale | 39,931 | 37,847 |
Derivative assets | 29,615 | 27,627 |
Liabilities: | ||
Demand, savings and money market deposits | 16,654,465 | 15,543,637 |
Time Deposits | 6,820,355 | 6,324,010 |
Federal Funds Purchased | 175,000 | |
FHLB advances | 4,810,446 | 4,774,160 |
Notes Payable, Fair Value Disclosure | 416,142 | 435,361 |
Derivative liabilities | 23,874 | 25,373 |
Fair Value, Inputs, Level 3 | ||
Assets: | ||
Loans and Leases Receivable, Net Reported Amount, Covered | 207,813 | 922,888 |
Loans and Leases Receivable, Net Amount | 21,660,445 | 20,759,567 |
FDIC indemnification asset | 0 | 148,356 |
Carrying Value | ||
Assets: | ||
Cash and cash equivalents | 382,073 | 194,582 |
Investments, Fair Value Disclosure | 8,166,878 | 6,690,832 |
Non-marketable equity securities | 267,052 | 265,989 |
Loans held for sale | 36,992 | 34,097 |
Loans and Leases Receivable, Net Reported Amount, Covered | 201,346 | 502,860 |
Loans and Leases Receivable, Net Amount | 21,665,731 | 20,768,849 |
FDIC indemnification asset | 0 | 295,635 |
Derivative assets | 29,615 | 27,627 |
Liabilities: | ||
Demand, savings and money market deposits | 16,654,465 | 15,543,637 |
Time Deposits | 6,819,758 | 6,334,842 |
Federal Funds Purchased | 175,000 | |
FHLB advances | 4,796,000 | 4,771,000 |
Notes Payable, Fair Value Disclosure | 402,749 | 402,830 |
Derivative liabilities | $ 23,874 | $ 25,373 |
Commitments and Contingencies_2
Commitments and Contingencies (Total Lending Related Commitments Outstanding) (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | $ 3,965,005 |
Commitments to fund loans | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | 508,074 |
Commitments to purchase loans | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | 518,054 |
Unfunded commitments under lines of credit [Member] | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | 2,853,431 |
Commercial and standby letters of credit | |
Lending Related Commitments [Line Items] | |
Unused Commitments to Extend Credit | $ 85,446 |
Condensed Financial Statement_3
Condensed Financial Statements of BankUnited, Inc. (Schedule of Condensed Balance Sheet) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||||
Cash and cash equivalents | $ 382,073 | $ 194,582 | $ 448,313 | $ 267,500 |
Investment securities available for sale, at fair value | 8,096,359 | 6,680,832 | ||
Other assets | 400,842 | 664,382 | ||
Total assets | 32,164,326 | 30,346,986 | ||
Liabilities and Stockholders' Equity: | ||||
Liabilities | 29,240,493 | 27,320,924 | ||
Stockholders' equity | 2,923,833 | 3,026,062 | 2,418,429 | 2,243,898 |
Total liabilities and stockholders' equity | 32,164,326 | 30,346,986 | ||
Parent Company [Member] | ||||
Assets: | ||||
Cash and cash equivalents | 143,843 | 131,696 | $ 87,718 | $ 82,810 |
Investment securities available for sale, at fair value | 60,519 | 63,543 | ||
Investment in subsidiaries | 3,110,638 | 3,239,717 | ||
Deferred tax asset, net | 10,088 | 9,456 | ||
Other assets | 27,319 | 8,462 | ||
Total assets | 3,352,407 | 3,452,874 | ||
Liabilities and Stockholders' Equity: | ||||
Notes Payable | 394,390 | 393,725 | ||
Liabilities | 34,184 | 33,087 | ||
Stockholders' equity | 2,923,833 | 3,026,062 | ||
Total liabilities and stockholders' equity | $ 3,352,407 | $ 3,452,874 |
Condensed Financial Statement_4
Condensed Financial Statements of BankUnited, Inc. (Schedule of Condensed Statements of Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Interest Expense - Borrowings | $ 114,488 | $ 83,256 | $ 69,059 | ||||||||
Employee compensation and benefits | 254,997 | 237,824 | 223,011 | ||||||||
Income before income taxes | $ 69,120 | $ 118,705 | $ 116,994 | $ 110,831 | $ 118,922 | $ 100,031 | $ 95,428 | $ 90,080 | 415,650 | 404,461 | 335,444 |
Provision for income taxes | 16,717 | 21,377 | 27,094 | 25,596 | (298,872) | 32,252 | 29,021 | 27,787 | 90,784 | (209,812) | 109,703 |
Net income | $ 52,403 | $ 97,328 | $ 89,900 | $ 85,235 | $ 417,794 | $ 67,779 | $ 66,407 | $ 62,293 | 324,866 | 614,273 | 225,741 |
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Interest and Dividend Income - Investment securities | 3,532 | 3,580 | 4,280 | ||||||||
Service fees from subsidiaries | 21,000 | 18,787 | 21,957 | ||||||||
Equity in earnings of subsidiaries | 349,937 | 639,250 | 242,874 | ||||||||
Other Income | (2,805) | 0 | 0 | ||||||||
Total Income | 371,664 | 661,617 | 269,111 | ||||||||
Interest Expense - Borrowings | 20,165 | 20,132 | 20,100 | ||||||||
Employee compensation and benefits | 28,477 | 27,032 | 27,143 | ||||||||
Other expense | 5,617 | 5,047 | 4,466 | ||||||||
Total expense | 54,259 | 52,211 | 51,709 | ||||||||
Income before income taxes | 317,405 | 609,406 | 217,402 | ||||||||
Provision for income taxes | (7,461) | (4,867) | (8,339) | ||||||||
Net income | $ 324,866 | $ 614,273 | $ 225,741 |
Condensed Financial Statement_5
Condensed Financial Statements of BankUnited, Inc. (Schedule of Condensed Statements of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Cash Provided by (Used in) Operating Activities [Abstract] | |||||||||||
Net income | $ 52,403 | $ 97,328 | $ 89,900 | $ 85,235 | $ 417,794 | $ 67,779 | $ 66,407 | $ 62,293 | $ 324,866 | $ 614,273 | $ 225,741 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity based compensation | 23,137 | 22,692 | 18,032 | ||||||||
Net cash provided by operating activities | 824,252 | 318,626 | 308,510 | ||||||||
Cash flows from investing activities: | |||||||||||
Purchase of investment securities available for sale | (4,138,994) | (3,131,798) | (3,058,106) | ||||||||
Proceeds from repayments and calls of investment securities | 1,533,951 | 1,260,444 | 724,666 | ||||||||
Other | (3,184) | (15,572) | 21,123 | ||||||||
Net cash used in investing activities | (2,041,531) | (2,452,576) | (3,826,231) | ||||||||
Cash flows from financing activities: | |||||||||||
Dividends paid | (91,305) | (91,628) | (89,824) | ||||||||
Exercise of stock options | 7,727 | 62,095 | 791 | ||||||||
Other | (7,424) | (8,837) | 5,178 | ||||||||
Net cash provided by financing activities | 1,404,770 | 1,880,219 | 3,698,534 | ||||||||
Net increase (decrease) in cash and cash equivalents | 187,491 | (253,731) | 180,813 | ||||||||
Cash and cash equivalents, beginning of period | 194,582 | 448,313 | 194,582 | 448,313 | 267,500 | ||||||
Cash and cash equivalents, end of period | 382,073 | 194,582 | 382,073 | 194,582 | 448,313 | ||||||
Supplemental schedule of non-cash investing and financing activities: | |||||||||||
Dividends declared, not paid | 21,673 | 23,055 | 22,510 | ||||||||
Parent Company [Member] | |||||||||||
Net Cash Provided by (Used in) Operating Activities [Abstract] | |||||||||||
Net income | 324,866 | 614,273 | 225,741 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed earnings of subsidiaries | 70,064 | (519,250) | (157,374) | ||||||||
Equity based compensation | 23,137 | 22,692 | 18,032 | ||||||||
Increase (Decrease) in Other Operating Assets and Liabilities, Net | (15,654) | 3,343 | 7,438 | ||||||||
Net cash provided by operating activities | 402,413 | 121,058 | 93,837 | ||||||||
Cash flows from investing activities: | |||||||||||
Capital contributions to subsidiary | 0 | 55,000 | 0 | ||||||||
Purchase of investment securities available for sale | 0 | 0 | (20,150) | ||||||||
Proceeds from repayments and calls of investment securities | 0 | 15,000 | 19,401 | ||||||||
Other | (156) | (250) | (3) | ||||||||
Net cash used in investing activities | (156) | (40,250) | (752) | ||||||||
Cash flows from financing activities: | |||||||||||
Proceeds from Issuance of Long-term Debt | (91,305) | (91,628) | (89,824) | ||||||||
Dividends paid | 7,727 | 62,095 | 791 | ||||||||
Exercise of stock options | (299,972) | 0 | 0 | ||||||||
Other | (6,560) | (7,297) | 856 | ||||||||
Net cash provided by financing activities | (390,110) | (36,830) | (88,177) | ||||||||
Net increase (decrease) in cash and cash equivalents | 12,147 | 43,978 | 4,908 | ||||||||
Cash and cash equivalents, beginning of period | $ 131,696 | $ 87,718 | 131,696 | 87,718 | 82,810 | ||||||
Cash and cash equivalents, end of period | $ 143,843 | $ 131,696 | 143,843 | 131,696 | 87,718 | ||||||
Supplemental schedule of non-cash investing and financing activities: | |||||||||||
Dividends declared, not paid | $ 21,673 | $ 23,055 | $ 22,510 |
Condensed Financial Statement_6
Condensed Financial Statements of BankUnited, Inc. (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ (420) | $ (120) | $ (86) |
Quarterly Financial Informati_3
Quarterly Financial Information (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest and Dividend Income, Operating | $ 414,796 | $ 357,717 | $ 348,855 | $ 327,776 | $ 312,645 | $ 309,443 | $ 298,835 | $ 283,538 | $ 1,449,144 | $ 1,204,461 | $ 1,059,217 |
Interest Expense | 119,743 | 105,749 | 93,592 | 79,967 | 73,819 | 68,179 | 59,246 | 52,945 | 399,051 | 254,189 | 188,832 |
Interest Income (Expense), Net | 295,053 | 251,968 | 255,263 | 247,809 | 238,826 | 241,264 | 239,589 | 230,593 | 1,050,093 | 950,272 | 870,385 |
Provision for loan losses | 12,583 | 1,200 | 8,995 | 3,147 | 5,174 | 37,854 | 13,619 | 12,100 | 25,925 | 68,747 | 50,911 |
Interest Income (Expense), after Provision for Loan Loss | 282,470 | 250,768 | 246,268 | 244,662 | 233,652 | 203,410 | 225,970 | 218,493 | 1,024,168 | 881,525 | 819,474 |
Noninterest Income | 33,328 | 38,735 | 31,973 | 27,986 | 46,541 | 53,326 | 29,893 | 28,144 | 132,022 | 157,904 | 106,417 |
Noninterest Expense | 246,678 | 170,798 | 161,247 | 161,817 | 161,271 | 156,705 | 160,435 | 156,557 | 740,540 | 634,968 | 590,447 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 69,120 | 118,705 | 116,994 | 110,831 | 118,922 | 100,031 | 95,428 | 90,080 | 415,650 | 404,461 | 335,444 |
Provision for income taxes | 16,717 | 21,377 | 27,094 | 25,596 | (298,872) | 32,252 | 29,021 | 27,787 | 90,784 | (209,812) | 109,703 |
Net income | $ 52,403 | $ 97,328 | $ 89,900 | $ 85,235 | $ 417,794 | $ 67,779 | $ 66,407 | $ 62,293 | $ 324,866 | $ 614,273 | $ 225,741 |
Earnings Per Share, Basic | $ 0.50 | $ 0.90 | $ 0.82 | $ 0.78 | $ 3.80 | $ 0.62 | $ 0.60 | $ 0.57 | $ 3.01 | $ 5.60 | $ 2.11 |
Earnings Per Share, Diluted | $ 0.50 | $ 0.90 | $ 0.82 | $ 0.77 | $ 3.79 | $ 0.62 | $ 0.60 | $ 0.57 | $ 2.99 | $ 5.58 | $ 2.09 |
Discrete Income Tax Benefit | $ 0 | $ 327,945 | $ 0 |