Cover Page
Cover Page - shares | 6 Months Ended | |
Jun. 30, 2022 | Jul. 29, 2022 | |
Document Information [Line Items] | ||
Document Transition Report | false | |
Entity Address, Address Line One | 14817 Oak Lane | |
Entity Address, City or Town | Miami Lakes | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33016 | |
Entity Registrant Name | BankUnited, Inc. | |
Entity Central Index Key | 0001504008 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Entity File Number | 001-35039 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Shell Company | DE | |
Entity Tax Identification Number | 27-0162450 | |
City Area Code | 305 | |
Local Phone Number | 569-2000 | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Document Annual Report | true | |
Entity Common Stock Shares Outstanding | 77,922,578 | |
NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Document Information [Line Items] | ||
Security Exchange Name | NYSE | |
Trading Symbol | BKU | |
Title of 12(b) Security | Common Stock, $0.01 Par Value |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Cash and due from banks: | ||
Non-interest bearing | $ 18,531 | $ 19,143 |
Interest bearing | 495,242 | 295,714 |
Cash and cash equivalents | 513,773 | 314,857 |
Investment securities (including securities recorded at fair value of $10,093,504 and $10,054,198) | 10,103,504 | 10,064,198 |
Non-marketable equity securities | 213,409 | 135,859 |
Loans | 24,100,014 | 23,765,053 |
Allowance for credit losses | (130,239) | (126,457) |
Loans, net | 23,969,775 | 23,638,596 |
Bank owned life insurance | 310,970 | 309,477 |
Operating lease equipment, net | 605,769 | 640,726 |
Goodwill | 77,637 | 77,637 |
Other assets | 756,567 | 634,046 |
Total assets | 36,551,404 | 35,815,396 |
Demand deposits: | ||
Non-interest bearing | 9,645,056 | 8,975,621 |
Interest bearing | 2,868,417 | 3,709,493 |
Savings and money market | 13,222,845 | 13,368,745 |
Time | 2,724,581 | 3,384,243 |
Total deposits | 28,460,899 | 29,438,102 |
Federal funds purchased | 0 | 199,000 |
FHLB advances | 4,005,000 | 1,905,000 |
Notes and other borrowings | 721,166 | 721,416 |
Other liabilities | 858,322 | 514,117 |
Total liabilities | 34,045,387 | 32,777,635 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Common Stock, Value, Issued | 779 | 856 |
Paid-in capital | 387,583 | 707,503 |
Retained earnings | 2,438,050 | 2,345,342 |
Accumulated other comprehensive loss | (320,395) | (15,940) |
Total stockholders' equity | 2,506,017 | 3,037,761 |
Total liabilities and stockholders' equity | 36,551,404 | 35,815,396 |
Loans [Member] | ||
Cash and due from banks: | ||
Allowance for credit losses | $ (130,239) | $ (126,457) |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Investment securities recorded at fair value | $ 10,093,504 | $ 10,054,198 |
Stockholders' equity: | ||
Common stock, par value (in Dollars per Share) | $ 0.01 | |
Common stock, shares authorized (in Shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in Shares) | 77,944,216 | 85,647,986 |
Common stock, shares outstanding (in Shares) | 77,944,216 | 85,647,986 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest income: | ||||
Loans | $ 209,223 | $ 202,520 | $ 400,785 | $ 407,855 |
Investment securities | 54,771 | 37,674 | 97,819 | 76,175 |
Other | 2,979 | 1,607 | 4,333 | 3,200 |
Total interest income | 266,973 | 241,801 | 502,937 | 487,230 |
Interest expense: | ||||
Deposits | 20,501 | 17,316 | 32,363 | 39,692 |
Borrowings | 21,056 | 26,174 | 36,516 | 52,987 |
Total interest expense | 41,557 | 43,490 | 68,879 | 92,679 |
Net interest income before provision for credit losses | 225,416 | 198,311 | 434,058 | 394,551 |
Provision for (recovery of) credit losses | 23,996 | (27,534) | 31,826 | (55,523) |
Net interest income after provision for credit losses | 201,420 | 225,845 | 402,232 | 450,074 |
Non-interest income: | ||||
Deposit service charges and fees | 5,896 | 5,417 | 11,856 | 10,317 |
Gain (loss) on investment securities, net | (8,392) | 4,155 | (16,260) | 6,520 |
Lease financing | 13,363 | 13,522 | 26,778 | 26,010 |
Other non-interest income | 2,583 | 9,663 | 5,377 | 20,206 |
Total non-interest income | 13,450 | 32,757 | 27,751 | 63,053 |
Non-interest expense: | ||||
Employee compensation and benefits | 62,461 | 56,459 | 129,549 | 115,747 |
Occupancy and equipment | 11,399 | 11,492 | 22,911 | 23,367 |
Deposit insurance expense | 3,993 | 4,222 | 7,396 | 11,672 |
Professional fees | 3,256 | 2,139 | 5,518 | 4,051 |
Technology and telecommunications | 17,898 | 16,851 | 34,902 | 32,592 |
Depreciation and impairment of operating lease equipment | 12,585 | 12,834 | 25,195 | 25,051 |
Other non-interest expense | 15,810 | 14,455 | 28,255 | 29,193 |
Total non-interest expense | 127,402 | 118,452 | 253,726 | 241,673 |
Income before income taxes | 87,468 | 140,150 | 176,257 | 271,454 |
Provision for income taxes | 21,704 | 36,176 | 43,343 | 68,666 |
Net income | $ 65,764 | $ 103,974 | $ 132,914 | $ 202,788 |
Earnings per common share, basic | $ 0.82 | $ 1.12 | $ 1.61 | $ 2.18 |
Earnings per common share, diluted | $ 0.82 | $ 1.11 | $ 1.60 | $ 2.17 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 65,764 | $ 103,974 | $ 132,914 | $ 202,788 |
Unrealized gains (losses) on investment securities available for sale: | ||||
Net unrealized holding gain (loss) arising during the period | 177,969 | (13,926) | 352,949 | 8,559 |
Reclassification adjustment for net securities gains realized in income | (670) | (2,118) | (2,648) | (5,073) |
Net change in unrealized gains (losses) on securities available for sale | (178,639) | 11,808 | (355,597) | (13,632) |
Unrealized gains (losses) on derivative instruments: | ||||
Net unrealized holding gains (losses) arising during the period | 12,866 | (8,944) | 44,045 | 15,667 |
Reclassification adjustment for net losses realized in income | 3,077 | 11,088 | 7,097 | 22,244 |
Net change in unrealized gains (losses) on derivative instruments | 15,943 | 2,144 | 51,142 | 37,911 |
Other comprehensive income (loss) | (162,696) | 13,952 | (304,455) | 24,279 |
Comprehensive income (loss) | $ (96,932) | $ 117,926 | $ (171,541) | $ 227,067 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 132,914 | $ 202,788 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization and accretion, net | (4,337) | (15,124) |
Provision for (recovery of) credit losses | 31,826 | (55,523) |
(Gain) loss on investment securities, net | 16,260 | (6,520) |
Equity based compensation | 11,862 | 12,414 |
Depreciation and amortization | 38,154 | 37,089 |
Deferred income taxes | 15,147 | 1,218 |
Proceeds from sale of loans held for sale | 426,174 | 455,996 |
Other: | ||
Increase (Decrease) in Other Operating Assets | 203,717 | (136,372) |
Increase in other liabilities | 183,713 | 81,833 |
Net cash provided by operating activities | 1,055,430 | 577,799 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||
Purchases of investment securities | (2,315,336) | (3,145,279) |
Proceeds from repayments and calls of investment securities | 1,054,902 | 1,265,922 |
Proceeds from sale of investment securities | 710,769 | 800,056 |
Purchases of non-marketable equity securities | (222,563) | (1,200) |
Proceeds from redemption of non-marketable equity securities | 145,013 | 32,106 |
Purchases of loans | (1,575,715) | (2,271,081) |
Loan originations and repayments, net | 786,260 | 2,638,153 |
Proceeds from sale of loans, net | 5,430 | 183,263 |
Acquisition of operating lease equipment | 0 | (38,875) |
Other investing activities | (16,414) | (5,183) |
Net cash used in investing activities | (1,427,654) | (542,118) |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | (977,203) | 1,113,453 |
Net decrease in federal funds purchased | (199,000) | (180,000) |
Additions to FHLB borrowings | 2,510,000 | 1,106,000 |
Repayments of FHLB borrowings | (410,000) | (1,545,999) |
Dividends paid | (40,842) | (43,714) |
Repurchase of common stock | (325,741) | (7,263) |
Other financing activities | 13,926 | 19,474 |
Net cash provided by financing activities | 571,140 | 461,951 |
Net increase in cash and cash equivalents | 198,916 | 497,632 |
Cash and cash equivalents, beginning of period | 314,857 | 397,716 |
Cash and cash equivalents, end of period | 513,773 | 895,348 |
Supplemental Cash Flow Information [Abstract] | ||
Interest paid | 65,545 | 94,782 |
Income taxes (refunded) paid, net | (122,242) | 236,491 |
Supplemental schedule of non-cash investing and financing activities: | ||
Transfers from loans to loans held for sale | 439,222 | 611,568 |
Dividends declared, not paid | 19,240 | 21,400 |
Noncash or Part Noncash Acquisition, Investments Acquired | 127,516 | 0 |
Unsettled securities trades, purchases | 134,700 | 0 |
Obligations incurred in acquisition of affordable housing limited partnerships | $ 55,000 | $ 0 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 93,067,500 | ||||
Balance at Dec. 31, 2020 | $ 2,983,012 | $ 931 | $ 1,017,518 | $ 2,013,715 | $ (49,152) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 227,067 | $ 0 | 0 | 202,788 | 24,279 |
Stock Dividends, Shares | 0 | ||||
Dividends ($0.50 per common share) | $ (42,805) | $ 0 | 0 | (42,805) | 0 |
Common Stock, Dividends, Per Share, Declared | $ 0.46 | ||||
Equity based compensation (in Shares) | 559,180 | ||||
Equity based compensation | $ 7,223 | $ 5 | 7,218 | 0 | 0 |
Forfeiture of unvested shares (in Shares) | (184,632) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (5,716) | $ (2) | (5,714) | 0 | 0 |
Exercise of stock options (in Shares) | 1,569 | ||||
Exercise of stock options | 25 | $ 0 | 25 | 0 | 0 |
Stock Repurchased During Period, Shares | (205,064) | ||||
Stock Repurchased During Period, Value | (7,263) | $ (2) | (7,261) | 0 | 0 |
Balance (in Shares) at Jun. 30, 2021 | 93,238,553 | ||||
Balance at Jun. 30, 2021 | 3,161,543 | $ 932 | 1,011,786 | 2,173,698 | (24,873) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2021 | 93,263,632 | ||||
Balance at Mar. 31, 2021 | 3,061,835 | $ 933 | 1,008,603 | 2,091,124 | (38,825) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 117,926 | $ 0 | 0 | 103,974 | 13,952 |
Stock Dividends, Shares | 0 | ||||
Dividends ($0.50 per common share) | $ (21,400) | $ 0 | 0 | (21,400) | 0 |
Common Stock, Dividends, Per Share, Declared | $ 0.23 | ||||
Equity based compensation (in Shares) | 19,469 | ||||
Equity based compensation | $ 3,211 | $ 0 | 3,211 | 0 | 0 |
Forfeiture of unvested shares (in Shares) | (44,548) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (29) | $ (1) | (28) | 0 | 0 |
Balance (in Shares) at Jun. 30, 2021 | 93,238,553 | ||||
Balance at Jun. 30, 2021 | 3,161,543 | $ 932 | 1,011,786 | 2,173,698 | (24,873) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 85,647,986 | ||||
Balance at Dec. 31, 2021 | 3,037,761 | $ 856 | 707,503 | 2,345,342 | (15,940) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | (171,541) | $ 0 | 0 | 132,914 | (304,455) |
Stock Dividends, Shares | 0 | ||||
Dividends ($0.50 per common share) | $ (40,206) | $ 0 | 0 | (40,206) | 0 |
Common Stock, Dividends, Per Share, Declared | $ 0.50 | ||||
Equity based compensation (in Shares) | 492,061 | ||||
Equity based compensation | $ 10,950 | $ 5 | 10,945 | 0 | 0 |
Forfeiture of unvested shares (in Shares) | (164,340) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (5,206) | $ (2) | (5,204) | 0 | 0 |
Stock Repurchased During Period, Shares | (8,031,491) | ||||
Stock Repurchased During Period, Value | (325,741) | $ (80) | (325,661) | 0 | 0 |
Balance (in Shares) at Jun. 30, 2022 | 77,944,216 | ||||
Balance at Jun. 30, 2022 | 2,506,017 | $ 779 | 387,583 | 2,438,050 | (320,395) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2022 | 84,052,021 | ||||
Balance at Mar. 31, 2022 | 2,861,232 | $ 841 | 626,564 | 2,391,526 | (157,699) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | (96,932) | $ 0 | 0 | 65,764 | (162,696) |
Stock Dividends, Shares | 0 | ||||
Dividends ($0.50 per common share) | $ (19,240) | $ 0 | 0 | (19,240) | 0 |
Common Stock, Dividends, Per Share, Declared | $ 0.25 | ||||
Equity based compensation (in Shares) | 24,011 | ||||
Equity based compensation | $ 4,619 | $ 0 | 4,619 | 0 | 0 |
Forfeiture of unvested shares (in Shares) | (32,228) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (24) | $ (1) | (23) | 0 | 0 |
Stock Repurchased During Period, Shares | (6,099,588) | ||||
Stock Repurchased During Period, Value | (243,638) | $ (61) | (243,577) | 0 | 0 |
Balance (in Shares) at Jun. 30, 2022 | 77,944,216 | ||||
Balance at Jun. 30, 2022 | $ 2,506,017 | $ 779 | $ 387,583 | $ 2,438,050 | $ (320,395) |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | Note 1 Basis of Presentation and Summary of Significant Accounting Policies BankUnited, Inc. is a national bank holding company with one wholly-owned subsidiary, BankUnited, collectively, the Company. BankUnited, a national banking association headquartered in Miami Lakes, Florida, provides a full range of banking and related services to individual and corporate customers through 60 banking centers located in 12 Florida counties, 4 banking centers located in the New York metropolitan area, and 1 banking center located in Dallas, Texas at June 30, 2022. The Bank also offers certain commercial lending and deposit products through national platforms. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, these do not include all of the information and footnotes required for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP and should be read in conjunction with the Company’s consolidated financial statements and the notes thereto appearing in BKU’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected in future periods. The Company has a single operating segment and thus a single reportable segment. While management monitors the revenue streams of its various business units, the business units serve a similar base of primarily commercial clients, providing a similar range of products and services, managed through similar processes and platforms. The Company’s chief operating decision maker makes company-wide resource allocation decisions and assessments of performance based on a collective assessment of the Company’s operations. 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. The most significant estimate impacting the Company's consolidated financial statements is the ACL. New Accounting Pronouncements Adopted During the Six Months Ended June 30, 2022 ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) . This ASU simplifies the accounting for convertible debt and convertible preferred stock by reducing the number of accounting models for these instruments, resulting in fewer embedded conversion features being separately recognized from the host contract. Additionally, this ASU revises the criteria for determining whether contracts in an entity's own equity meet the scope exception from derivative accounting, which will change the population of contracts that are recognized as assets or liabilities. The amendments in this ASU also revise certain aspects of the guidance on calculating earnings per share with respect to convertible instruments and instruments that may be settled in the entity's own shares. The Company adopted this ASU on January 1, 2022, with no material impact on the Company's consolidated financial position, results of operations, and cash flows. ASU No. 2022-01, Fair Value Hedging—Portfolio Layer Method (Topic 815) . This ASU expands the portfolio layer method of hedge accounting prescribed in ASU No. 2017-12 to allow multiple hedged layers of a single closed portfolio and to include portfolios of both prepayable and non-prepayable financial assets. This scope expansion is consistent with the FASB’s efforts to simplify hedge accounting and allows entities to apply the same accounting method to similar hedging strategies. The ASU also specifies eligible hedging instruments in a single-layer hedge, provides additional guidance on accounting and disclosure of hedge basis adjustments and specifies how hedge basis adjustments should be considered in determining credit losses for assets in the designated closed portfolio. This ASU is effective for public business entities for interim and annual periods in fiscal years beginning after December 15, 2022. The Company adopted this ASU upon its release in March 2022 with no material impact on the Company's consolidated financial position, results of operations, and cash flows. ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326). This ASU eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Note 2 Earnings Per Common Share The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, c 2022 2021 2022 2021 Basic earnings per common share: Numerator: Net income $ 65,764 $ 103,974 $ 132,914 $ 202,788 Distributed and undistributed earnings allocated to participating securities (999) (1,338) (1,927) (2,589) Income allocated to common stockholders for basic earnings per common share $ 64,765 $ 102,636 $ 130,987 $ 200,199 Denominator: Weighted average common shares outstanding 80,300,069 93,245,282 82,629,098 93,160,962 Less average unvested stock awards (1,257,258) (1,241,381) (1,234,678) (1,223,555) Weighted average shares for basic earnings per common share 79,042,811 92,003,901 81,394,420 91,937,407 Basic earnings per common share $ 0.82 $ 1.12 $ 1.61 $ 2.18 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 64,765 $ 102,636 $ 130,987 $ 200,199 Adjustment for earnings reallocated from participating securities 3 2 4 3 Income used in calculating diluted earnings per common share $ 64,768 $ 102,638 $ 130,991 $ 200,202 Denominator: Weighted average shares for basic earnings per common share 79,042,811 92,003,901 81,394,420 91,937,407 Dilutive effect of certain share-based awards 350,734 181,061 244,808 137,542 Weighted average shares for diluted earnings per common share 79,393,545 92,184,962 81,639,228 92,074,949 Diluted earnings per common share $ 0.82 $ 1.11 $ 1.60 $ 2.17 Potentially dilutive unvested shares totaling 1,245,299 and 1,212,062 were outstanding at June 30, 2022 and 2021, respectively, but excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 3 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 the dates indicated (in thousands): June 30, 2022 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 109,422 $ — $ (10,294) $ 99,128 U.S. Government agency and sponsored enterprise residential MBS 2,107,130 1,527 (34,110) 2,074,547 U.S. Government agency and sponsored enterprise commercial MBS 628,430 141 (53,277) 575,294 Private label residential MBS and CMOs 2,870,519 107 (233,720) 2,636,906 Private label commercial MBS 2,779,138 202 (94,710) 2,684,630 Single family real estate-backed securities 509,971 176 (18,669) 491,478 Collateralized loan obligations 1,047,036 — (23,332) 1,023,704 Non-mortgage asset-backed securities 111,961 4 (4,204) 107,761 State and municipal obligations 154,729 508 (5,531) 149,706 SBA securities 160,986 1,322 (2,815) 159,493 10,479,322 $ 3,987 $ (480,662) 10,002,647 Investment securities held to maturity 10,000 10,000 $ 10,489,322 10,012,647 Marketable equity securities 90,857 $ 10,103,504 December 31, 2021 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 114,385 $ 173 $ (2,898) $ 111,660 U.S. Government agency and sponsored enterprise residential MBS 2,093,283 12,934 (8,421) 2,097,796 U.S. Government agency and sponsored enterprise commercial MBS 861,925 5,287 (10,313) 856,899 Private label residential MBS and CMOs 2,160,136 3,575 (14,291) 2,149,420 Private label commercial MBS 2,604,690 7,843 (8,523) 2,604,010 Single family real estate-backed securities 474,845 5,031 (2,908) 476,968 Collateralized loan obligations 1,079,217 598 (1,529) 1,078,286 Non-mortgage asset-backed securities 151,091 1,419 — 152,510 State and municipal obligations 205,718 16,559 — 222,277 SBA securities 184,296 2,027 (2,728) 183,595 9,929,586 $ 55,446 $ (51,611) 9,933,421 Investment securities held to maturity 10,000 10,000 $ 9,939,586 9,943,421 Marketable equity securities 120,777 $ 10,064,198 (1) At fair value except for securities held to maturity. Investment securities held to maturity at June 30, 2022 and December 31, 2021 consisted of one State of Israel bond maturing in 2024. Accrued interest receivable on investments totaled $21 million and $16 million at June 30, 2022 and December 31, 2021, respectively, and is included in other assets in the accompanying consolidated balance sheets. At June 30, 2022, contractual maturities of investment securities available for sale, adjusted for anticipated prepayments when applicable, were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,547,866 $ 1,488,239 Due after one year through five years 6,167,133 5,953,142 Due after five years through ten years 1,949,056 1,814,202 Due after ten years 815,267 747,064 $ 10,479,322 $ 10,002,647 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 $4.0 billion at both June 30, 2022 and December 31, 2021. The following table provides information about gains and losses on investment securities for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Proceeds from sale of investment securities AFS $ 228,462 $ 389,814 $ 710,769 $ 800,056 Gross realized gains on investment securities AFS $ 956 $ 2,870 $ 3,706 $ 6,862 Gross realized losses on investment securities AFS (51) (29) (128) (54) Net realized gain 905 2,841 3,578 6,808 Net unrealized gains (losses) on marketable equity securities recognized in earnings (9,297) 1,314 (19,838) (288) Gain (loss) on investment securities, net $ (8,392) $ 4,155 $ (16,260) $ 6,520 The following tables present the aggregate fair value and the aggregate amount by which amortized cost exceeded fair value for investment securities available for sale in unrealized loss positions aggregated by investment category and length of time that individual securities had been in continuous unrealized loss positions at the dates indicated (in thousands): June 30, 2022 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 $ 57,284 $ (2,696) $ 41,844 $ (7,598) $ 99,128 $ (10,294) U.S. Government agency and sponsored enterprise residential MBS 1,244,332 (19,221) 456,536 (14,889) 1,700,868 (34,110) U.S. Government agency and sponsored enterprise commercial MBS 457,209 (34,781) 95,530 (18,496) 552,739 (53,277) Private label residential MBS and CMOs 2,539,475 (223,743) 62,366 (9,977) 2,601,841 (233,720) Private label commercial MBS 2,270,765 (71,414) 291,828 (23,296) 2,562,593 (94,710) Single family real estate-backed securities 380,879 (14,076) 52,737 (4,593) 433,616 (18,669) Collateralized loan obligations 707,837 (18,421) 213,367 (4,911) 921,204 (23,332) Non-mortgage asset-backed securities 105,767 (4,204) — — 105,767 (4,204) State and municipal obligations 99,041 (5,531) — — 99,041 (5,531) SBA securities 44 (1) 86,632 (2,814) 86,676 (2,815) $ 7,862,633 $ (394,088) $ 1,300,840 $ (86,574) $ 9,163,473 $ (480,662) December 31, 2021 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 $ 49,328 $ (591) $ 47,102 $ (2,307) $ 96,430 $ (2,898) U.S. Government agency and sponsored enterprise residential MBS 436,744 (4,549) 401,022 (3,872) 837,766 (8,421) U.S. Government agency and sponsored enterprise commercial MBS 247,323 (4,084) 163,380 (6,229) 410,703 (10,313) Private label residential MBS and CMOs 1,552,946 (13,933) 23,355 (358) 1,576,301 (14,291) Private label commercial MBS 1,338,288 (6,085) 171,490 (2,438) 1,509,778 (8,523) Single family real estate-backed securities 154,552 (2,908) — — 154,552 (2,908) Collateralized loan obligations 318,555 (445) 319,192 (1,084) 637,747 (1,529) SBA securities 496 — 99,599 (2,728) 100,095 (2,728) $ 4,098,232 $ (32,595) $ 1,225,140 $ (19,016) $ 5,323,372 $ (51,611) The Company monitors its investment securities available for sale for credit loss impairment on an individual security basis. No securities were determined to be credit loss impaired during the three and six months ended June 30, 2022 and 2021. At June 30, 2022, the Company did not have an intent to sell securities that were in unrealized loss positions and it was not more likely than not that the Company would be required to sell these securities before recovery of the amortized cost basis, which may be at maturity. In making this determination, the Company considered its current and projected liquidity position, its investment policy as to permissible holdings and concentration limits, regulatory requirements and other relevant factors. At June 30, 2022, 540 securities available for sale were in unrealized loss positions. The amount of impairment related to 121 of these securities was considered insignificant both individually and in the aggregate, totaling approximately $1.1 million and no further analysis with respect to these securities was considered necessary. The basis for concluding that AFS securities were not credit loss impaired and no ACL was considered necessary at June 30, 2022 is further discussed below. Unrealized losses were generally attributable to rising interest rates and widening spreads related to the Federal Reserve's plans for quantitative tightening and benchmark interest rate increases . Continuing supply-chain disruptions, inflationary indicators and geopolitical events have also led to market uncertainty, producing some yield curve dislocations. U.S. Government Agency and Government Sponsored Enterprise Securities At June 30, 2022, five U.S. treasury, 102 U.S. Government agency and sponsored enterprise residential MBS, twenty-eight U.S. Government agency and sponsored enterprise commercial MBS, and eleven SBA securities were in unrealized loss positions. The timely payment of principal and interest on these securities is explicitly or implicitly guaranteed by the U.S. Government. As such, there is an assumption of zero credit loss and the Company expects to recover the amortized cost basis of these securities. Private Label Securities: None of the impaired private label securities had missed principal or interest payments or had been downgraded by a NRSRO at June 30, 2022. The Company performed an analysis comparing the present value of cash flows expected to be collected to the amortized cost basis of impaired securities. This analysis was based on a scenario that we believe to be generally more conservative than our reasonable and supportable economic forecast at June 30, 2022, and incorporated assumptions about voluntary prepayment rates, collateral defaults, delinquencies, severity and other relevant factors as described further below. Our analysis also considered the structural characteristics of each security and the level of credit enhancement provided by that structure. Private label residential MBS and CMOs At June 30, 2022, 109 private label residential MBS and CMOs were in unrealized loss positions. Our analysis of cash flows expected to be collected on these securities incorporated assumptions about collateral default rates, voluntary prepayment rates, loss severity, delinquencies and recovery lag. In developing those assumptions, we took into account collateral quality measures such as FICO, LTV, documentation, loan type, property type, agency availability criteria and performing status. We also regularly monitor sector data including home price appreciation, forbearance, delinquency and prepay trends as well as other economic data that could be indicative of stress in the sector. Our June 30, 2022 analysis projected weighted average collateral losses for impaired securities in this category of 2% compared to weighted average credit support of 17%. As of June 30, 2022, 95% of impaired securities in this category, based on carrying value, were externally rated AAA, 1% were rated AA and 4% were rated A. Private label commercial MBS At June 30, 2022, 110 private label commercial MBS were in unrealized loss positions. Our analysis of cash flows expected to be collected on these securities incorporated assumptions about collateral default rates, voluntary prepayment rates, loss severity, delinquencies and recovery lag. In developing those assumptions, we took into account collateral quality and type, loan size, loan purpose and other qualitative factors. We also regularly monitor collateral watch lists, bankruptcy data, special servicing trends, delinquency and other economic data that could be indicative of stress in the sector. Our June 30, 2022 analysis projected weighted average collateral losses for impaired securities in this category of 6% compared to weighted average credit support of 43%. As of June 30, 2022, 86% of impaired securities in this category, based on carrying value, were externally rated AAA, 10% were rated AA and 4% were rated A. Single family real estate-backed securities At June 30, 2022, sixteen single family rental real estate-backed securities were in unrealized loss positions. Our analysis of cash flows expected to be collected on these securities incorporated assumptions about collateral default rates, loss severity, delinquencies and recovery lag. We regularly monitor sector data including home prices appreciation, forbearance, delinquency and prepay trends as well as other economic data that could be indicative of stress in the sector. Our June 30, 2022 analysis projected weighted average collateral losses for this category of 7% compared to weighted average credit support of 49%. As of June 30, 2022, 61% of impaired securities in this category, based on carrying value, were externally rated AAA, 17% were rated AA and one security was not rated. Collateralized loan obligations At June 30, 2022, twenty-three collateralized loan obligations were in unrealized loss positions. Our analysis of cash flows expected to be collected on these securities incorporated assumptions about collateral default rates, loss severity, and delinquencies, calibrated to take into account idiosyncratic risks associated with the underlying collateral. In developing those assumptions, we took into account each sector’s performance pre, during and post the 2008 financial crisis. We regularly engage with bond managers to monitor trends in underlying collateral including potential downgrades and subsequent cash flow diversions, liquidity, ratings migration, and any other relevant developments. Our June 30, 2022 analysis projected weighted average collateral losses for impaired securities in this category of 7% compared to weighted average credit support of 42%. As of June 30, 2022, 79% of the impaired securities in this category, based on carrying value, were externally rated AAA, 17% were rated AA and 4% were rated A. Non-mortgage asset-backed securities At June 30, 2022, seven non-mortgage asset-backed securities were in unrealized loss positions. These securities are backed by student loan collateral. Our analysis of cash flows expected to be collected on these securities incorporated assumptions about collateral default rates, loss severity, delinquencies, voluntary prepayment rates and recovery lag. In developing assumptions, we took into account collateral type, delineated by whether collateral consisted of loans to borrowers in school, refinancing, or a mixture. Our June 30, 2022 analysis projected weighted average collateral losses for impaired securities in this category of 3% compared to weighted average credit support of 23%. As of June 30, 2022, 53% of the impaired securities in this category, based on carrying value, were externally rated AAA, and 47% were rated AA. State and Municipal Obligations At June 30, 2022, eight state and municipal obligations were in unrealized loss positions. Our analysis of potential credit loss impairment for these securities incorporates a quantitative measure of the underlying obligor's credit worthiness provided by a third-party vendor as well as other relevant qualitative considerations. As of June 30, 2022, 62% of the impaired securities in this category, based on carrying value, were externally rated AAA, and 38% were rated AA. |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Loans and Allowance for Credit Losses | Note 4 Loans and Allowance for Credit Losses Loans consisted of the following at the dates indicated (dollars in thousands): June 30, 2022 December 31, 2021 Total Percent of Total Total Percent of Total Residential and other consumer: 1-4 single family residential $ 6,907,681 28.7 % $ 6,338,225 26.7 % Government insured residential 1,928,779 8.0 % 2,023,221 8.5 % Other consumer loans 3,927 — % 6,934 — % 8,840,387 36.7 % 8,368,380 35.2 % Commercial: Multi-family 1,017,500 4.2 % 1,154,738 4.9 % Non-owner occupied commercial real estate 4,276,697 17.7 % 4,381,610 18.4 % Construction and land 213,833 0.9 % 165,390 0.7 % Owner occupied commercial real estate 1,907,349 7.9 % 1,944,658 8.2 % Commercial and industrial 5,423,998 22.5 % 4,790,275 20.2 % PPP 29,828 0.1 % 248,505 1.0 % Pinnacle 977,930 4.1 % 919,641 3.9 % Bridge - franchise finance 262,570 1.1 % 342,124 1.4 % Bridge - equipment finance 333,125 1.4 % 357,599 1.5 % Mortgage warehouse lending 816,797 3.4 % 1,092,133 4.6 % 15,259,627 63.3 % 15,396,673 64.8 % Total loans 24,100,014 100.0 % 23,765,053 100.0 % Allowance for credit losses (130,239) (126,457) Loans, net $ 23,969,775 $ 23,638,596 Premiums, discounts and deferred fees and costs, excluding the non-credit related discount on PCD loans, totaled $67 million at both June 30, 2022 and December 31, 2021. The following table presents the amortized cost basis of residential PCD loans and the related amount of non-credit discount, net of the related ACL, at the dates indicated (in thousands): June 30, 2022 December 31, 2021 UPB $ 107,721 $ 124,963 Non-credit discount (50,589) (59,759) Total amortized cost of PCD loans 57,132 65,204 ACL related to PCD loans (542) (476) PCD loans, net $ 56,590 $ 64,728 Included in loans, net are direct or sales type finance leases totaling $704 million and $652 million at June 30, 2022 and December 31, 2021, respectively. The amount of income recognized from direct or sales type finance leases for the three and six months ended June 30, 2022 and 2021 totaled $4.4 million, $9.0 million, $4.5 million and $9.9 million, respectively and is included in interest income on loans in the consolidated statements of income. During the three and six months ended June 30, 2022 and 2021, the Company purchased residential and other consumer loans totaling $714 million, $1.6 billion, $1.3 billion and $2.3 billion, respectively. At June 30, 2022 and December 31, 2021, the Company had pledged loans with a carrying value of approximately $11.1 billion and $10.6 billion, respectively, as security for FHLB advances and Federal Reserve discount window capacity. At June 30, 2022 and December 31, 2021, accrued interest receivable on loans totaled $105 million and $98 million, respectively, and is included in other assets in the accompanying consolidated balance sheets. The amount of interest income reversed on non-accrual loans was not material for the three and six months ended June 30, 2022 and 2021. Allowance for credit losses The ACL was determined utilizing a 2-year reasonable and supportable forecast period. The quantitative portion of the ACL was determined using a single third-party provided economic scenario. Activity in the ACL is summarized below for the periods indicated (in thousands): Three Months Ended June 30, 2022 2021 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 8,957 $ 116,486 $ 125,443 $ 15,844 $ 205,090 $ 220,934 Provision (recovery) 448 22,759 23,207 (3,938) (23,725) (27,663) Charge-offs (412) (20,567) (20,979) — (18,402) (18,402) Recoveries 17 2,551 2,568 3 770 773 Ending balance $ 9,010 $ 121,229 $ 130,239 $ 11,909 $ 163,733 $ 175,642 Six Months Ended June 30, 2022 2021 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 9,187 $ 117,270 $ 126,457 $ 18,719 $ 238,604 $ 257,323 Provision (recovery) 192 30,461 30,653 (6,802) (47,167) (53,969) Charge-offs (412) (31,238) (31,650) (14) (30,380) (30,394) Recoveries 43 4,736 4,779 6 2,676 2,682 Ending balance $ 9,010 $ 121,229 $ 130,239 $ 11,909 $ 163,733 $ 175,642 The increase in the ACL from December 31, 2021 to June 30, 2022 reflected the provision for credit losses, offset by net charge-offs. Factors impacting the provision for credit losses for the six months ended June 30, 2022 included an increase in qualitative loss factors related primarily to economic uncertainty, loan growth, the decline in criticized and classified assets, and an increase in specific reserves. The following table presents the components of the provision for (recovery of) credit losses for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Amount related to funded portion of loans $ 23,207 $ (27,663) $ 30,653 $ (53,969) Amount related to off-balance sheet credit exposures 916 129 1,300 (919) Other (127) — (127) (635) Total provision for (recovery of) credit losses $ 23,996 $ (27,534) $ 31,826 $ (55,523) Credit quality information Credit quality of loans held for investment is continuously monitored by dedicated residential credit risk management and commercial portfolio management functions. The Company also has a workout and recovery department that monitors the credit quality of criticized and classified loans and an independent internal credit review function. Credit quality indicators for residential loans Management considers delinquency status to be the most meaningful indicator of the credit quality of residential and other consumer loans, other than government insured residential loans. Delinquency statistics are updated at least monthly. LTV and FICO scores are also important indicators of credit quality for 1-4 single family residential loans other than government insured loans. FICO scores are generally updated at least annually, and were most recently updated in the first quarter of 2022. LTVs are typically at origination since we do not routinely update residential appraisals. Substantially all of the government insured residential loans are government insured buyout loans, which the Company buys out of GNMA securitizations upon default. For these loans, traditional measures of credit quality are not particularly relevant considering the guaranteed nature of the loans and the underlying business model. Factors that impact risk inherent in the residential portfolio segment include national and regional economic conditions such as levels of unemployment and wages, as well as residential property values. 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on delinquency status: June 30, 2022 Amortized Cost By Origination Year 2022 2021 2020 2019 2018 Prior Total Current $ 664,630 $ 3,255,371 $ 954,681 $ 339,083 $ 190,213 $ 1,448,027 $ 6,852,005 30 - 59 Days Past Due 7,153 19,527 4,812 2,329 72 5,498 39,391 60 - 89 Days Past Due — 1,177 1,949 1,024 87 502 4,739 90 Days or More Past Due — 214 302 — 2,998 8,032 11,546 $ 671,783 $ 3,276,289 $ 961,744 $ 342,436 $ 193,370 $ 1,462,059 $ 6,907,681 December 31, 2021 Amortized Cost By Origination Year 2021 2020 2019 2018 2017 Prior Total Current $ 2,884,761 $ 1,062,348 $ 395,453 $ 224,175 $ 342,414 $ 1,352,844 $ 6,261,995 30 - 59 Days Past Due 32,307 2,705 5,482 1,942 5,831 4,825 53,092 60 - 89 Days Past Due 605 — 1,750 1,988 — 1,307 5,650 90 Days or More Past Due 1,407 — 609 5,100 1,064 9,308 17,488 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on LTV: June 30, 2022 Amortized Cost By Origination Year LTV 2022 2021 2020 2019 2018 Prior Total Less than 61% $ 195,295 $ 1,348,565 $ 368,526 $ 82,499 $ 45,328 $ 514,035 $ 2,554,248 61% - 70% 165,534 884,488 241,816 83,770 50,998 350,051 1,776,657 71% - 80% 308,253 1,007,062 351,327 170,620 92,557 552,791 2,482,610 More than 80% 2,701 36,174 75 5,547 4,487 45,182 94,166 $ 671,783 $ 3,276,289 $ 961,744 $ 342,436 $ 193,370 $ 1,462,059 $ 6,907,681 December 31, 2021 Amortized Cost By Origination Year LTV 2021 2020 2019 2018 2017 Prior Total Less than 61% $ 1,222,510 $ 399,512 $ 89,078 $ 54,301 $ 111,540 $ 476,170 $ 2,353,111 61% - 70 % 791,935 269,739 92,282 59,425 66,641 343,654 1,623,676 71% - 80% 899,400 395,726 212,649 111,276 145,413 518,817 2,283,281 More than 80% 5,235 76 9,285 8,203 25,715 29,643 78,157 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on FICO score: June 30, 2022 Amortized Cost By Origination Year FICO 2022 2021 2020 2019 2018 Prior Total 760 or greater $ 441,901 $ 2,442,807 $ 776,830 $ 219,807 $ 112,937 $ 1,018,235 $ 5,012,517 720 - 759 171,852 632,539 121,052 64,889 36,713 239,878 1,266,923 719 or less 58,030 200,943 63,862 57,740 43,720 203,946 628,241 $ 671,783 $ 3,276,289 $ 961,744 $ 342,436 $ 193,370 $ 1,462,059 $ 6,907,681 December 31, 2021 Amortized Cost By Origination Year FICO 2021 2020 2019 2018 2017 Prior Total 760 or greater $ 2,230,259 $ 803,026 $ 245,942 $ 125,713 $ 254,750 $ 937,285 $ 4,596,975 720 - 759 562,763 194,068 91,276 53,576 54,080 219,561 1,175,324 719 or less 126,058 67,959 66,076 53,916 40,479 211,438 565,926 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 Credit quality indicators for commercial loans Factors that impact risk inherent in commercial portfolio segments include but are not limited to levels of economic activity, health of the national and regional economy, industry trends, patterns of and trends in customer behavior that influence demand for our borrowers' products and services, and commercial real estate values. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial loans. Internal risk ratings are generally indicative of the likelihood that a borrower will default, are a key factor influencing the level and nature of ongoing monitoring of loans and may impact the estimation of the ACL. 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 could result in deterioration of repayment prospects at some future date if not checked or corrected 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 from current operations, 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. Commercial credit exposure based on internal risk rating: June 30, 2022 Amortized Cost By Origination Year Revolving Loans 2022 2021 2020 2019 2018 Prior Total CRE Pass $ 564,674 $ 876,951 $ 565,942 $ 1,209,406 $ 553,614 $ 1,214,629 $ 93,687 $ 5,078,903 Special mention — — — 1,789 — 2,045 — 3,834 Substandard 12,545 1,355 25,280 112,782 58,761 214,570 — 425,293 Total CRE $ 577,219 $ 878,306 $ 591,222 $ 1,323,977 $ 612,375 $ 1,431,244 $ 93,687 $ 5,508,030 C&I (1) Pass $ 920,906 $ 867,112 $ 530,609 $ 715,269 $ 416,247 $ 953,082 $ 2,476,464 $ 6,879,689 Special mention 21 21,952 842 35,878 15,569 5,016 6,041 85,319 Substandard 1,299 11,346 29,667 123,673 48,613 124,631 55,824 395,053 Doubtful — — — — — — 1,114 1,114 Total C&I $ 922,226 $ 900,410 $ 561,118 $ 874,820 $ 480,429 $ 1,082,729 $ 2,539,443 $ 7,361,175 Pinnacle Pass $ 125,811 $ 137,899 $ 96,853 $ 76,038 $ 33,427 $ 507,902 $ — $ 977,930 Total Pinnacle $ 125,811 $ 137,899 $ 96,853 $ 76,038 $ 33,427 $ 507,902 $ — $ 977,930 Bridge - Equipment Finance Pass $ 25,216 $ 66,235 $ 17,575 $ 103,826 $ 40,804 $ 56,085 $ — $ 309,741 Substandard — — — 1,753 — 21,631 — 23,384 Total Bridge - Equipment Finance $ 25,216 $ 66,235 $ 17,575 $ 105,579 $ 40,804 $ 77,716 $ — $ 333,125 Bridge - Franchise Finance Pass $ 15,549 $ 34,963 $ 44,320 $ 79,457 $ 11,192 $ 9,045 $ — $ 194,526 Substandard — 1,924 2,346 26,449 19,061 11,407 — 61,187 Doubtful — — — 2,651 4,206 — — 6,857 Total Bridge - Franchise Finance $ 15,549 $ 36,887 $ 46,666 $ 108,557 $ 34,459 $ 20,452 $ — $ 262,570 Mortgage Warehouse Lending Pass $ — $ — $ — $ — $ — $ — $ 816,797 $ 816,797 Total Mortgage Warehouse Lending $ — $ — $ — $ — $ — $ — $ 816,797 $ 816,797 At June 30, 2022 and December 31, 2021, the balance of revolving loans converted to term loans was immaterial. The following tables summarize the Company's commercial credit exposure based on internal risk rating, in aggregate, at the dates indicated (in thousands): June 30, 2022 Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial PPP Pinnacle Bridge - Franchise Finance Bridge - Equipment Finance Mortgage Warehouse Lending Total Pass $ 818,882 $ 4,063,154 $ 196,867 $ 1,765,372 $ 5,084,489 $ 29,828 $ 977,930 $ 194,526 $ 309,741 $ 816,797 $ 14,257,586 Special mention — 2,045 1,789 9,065 76,254 — — — — — 89,153 Substandard - accruing 188,032 194,477 9,519 111,082 207,272 — — 53,633 23,384 — 787,399 Substandard non-accruing 10,586 17,021 5,658 21,830 54,869 — — 7,554 — — 117,518 Doubtful — — — — 1,114 — — 6,857 — — 7,971 $ 1,017,500 $ 4,276,697 $ 213,833 $ 1,907,349 $ 5,423,998 $ 29,828 $ 977,930 $ 262,570 $ 333,125 $ 816,797 $ 15,259,627 December 31, 2021 Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial PPP Pinnacle Bridge - Franchise Finance Bridge - Equipment Finance Mortgage Warehouse Lending Total Pass $ 970,337 $ 3,892,353 $ 147,470 $ 1,750,035 $ 4,368,590 $ 248,505 $ 919,641 $ 228,381 $ 316,924 $ 1,092,133 $ 13,934,369 Special mention — 26,088 6,174 14,010 102,321 — — — — — 148,593 Substandard -accruing 173,536 423,918 6,582 160,159 250,644 — — 80,864 40,675 — 1,136,378 Substandard non-accruing 10,865 39,251 5,164 20,454 40,958 — — 12,887 — — 129,579 Doubtful — — — — 27,762 — — 19,992 — — 47,754 $ 1,154,738 $ 4,381,610 $ 165,390 $ 1,944,658 $ 4,790,275 $ 248,505 $ 919,641 $ 342,124 $ 357,599 $ 1,092,133 $ 15,396,673 The COVID 19 pandemic led to an increase in the level of criticized and classified commercial loans compared to pre-pandemic levels; while criticized and classified assets are evidencing a declining trend, those levels remain elevated. Past Due and Non-Accrual Loans: The following table presents an aging of loans at the dates indicated (in thousands): June 30, 2022 December 31, 2021 Current 30 - 59 60 - 89 90 Days or Total Current 30 - 59 60 - 89 90 Days or Total 1-4 single family residential $ 6,852,005 $ 39,391 $ 4,739 $ 11,546 $ 6,907,681 $ 6,261,995 $ 53,092 $ 5,650 $ 17,488 $ 6,338,225 Government insured residential 1,097,481 139,631 86,849 604,818 1,928,779 1,034,686 143,672 115,028 729,835 2,023,221 Other consumer loans 3,927 — — — 3,927 6,919 15 — — 6,934 Multi-family 1,015,362 — — 2,138 1,017,500 1,135,363 6,017 11,220 2,138 1,154,738 Non-owner occupied commercial real estate 4,263,032 2,216 2,680 8,769 4,276,697 4,359,671 2,727 29 19,183 4,381,610 Construction and land 208,612 — 4,209 1,012 213,833 160,183 492 4,369 346 165,390 Owner occupied commercial real estate 1,892,327 266 1,705 13,051 1,907,349 1,930,932 — 1,402 12,324 1,944,658 Commercial and industrial 5,392,155 1,282 11,637 18,924 5,423,998 4,763,976 2,114 11,016 13,169 4,790,275 PPP 21,316 6,008 2,504 — 29,828 247,740 765 — — 248,505 Pinnacle 977,930 — — — 977,930 919,641 — — — 919,641 Bridge - franchise finance 251,572 — 1,300 9,698 262,570 331,397 — 6,735 3,992 342,124 Bridge - equipment finance 333,125 — — — 333,125 357,599 — — — 357,599 Mortgage warehouse lending 816,797 — — — 816,797 1,092,133 — — — 1,092,133 $ 23,125,641 $ 188,794 $ 115,623 $ 669,956 $ 24,100,014 $ 22,602,235 $ 208,894 $ 155,449 $ 798,475 $ 23,765,053 Foreclosure of residential real estate The recorded investment in residential loans in the process of foreclosure was $309 million, of which $302 million was government insured, at June 30, 2022 and $208 million, of which $202 million was government insured, at December 31, 2021. The carrying amount of foreclosed residential real estate included in other assets in the accompanying consolidated balance sheet was insignificant at June 30, 2022 and December 31, 2021. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 5 Income TaxesThe Company’s effective income tax rate was 24.8% and 24.6% for the three and six months ended June 30, 2022, respectively, and 25.8% and 25.3% for the three and six months ended June 30, 2021, respectively. The effective income tax rates differed from the statutory federal income tax rate of 21% for the three and six months ended June 30, 2022 and 2021 due primarily to the impact of state income taxes, partially offset by the benefit of income not subject to federal tax |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Note 6 Derivatives and Hedging Activities The Company has entered into interest rate swaps and caps designated as cash flow hedges with the objective of limiting the variability of interest payment cash flows. The Company has also entered into interest rate swaps designated as fair value hedges designed to hedge changes in the fair value of outstanding fixed rate instruments caused by fluctuations in the benchmark interest rate. The Company 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. For the three and six months ended June 30, 2022 and 2021, the impact on earnings related to changes in fair value of these derivatives 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 commercial borrower counterparties through its normal loan underwriting and credit monitoring policies and procedures. The Company does not currently anticipate any significant 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 zero at both June 30, 2022 and December 31, 2021. The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands): June 30, 2022 Weighted Weighted Weighted 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 2.5 $ 780,000 Other assets $ 749 $ — Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.27% SOFR 2.2 625,000 — — Pay-fixed interest rate swaps Variability of interest cash flows on variable rate liabilities 1.22% Fed Funds Effective Rate 2.2 400,000 — — Interest rate caps purchased, indexed to Fed Funds effective rate Variability of interest cash flows on variable rate liabilities 0.88% 3.0 200,000 Other assets 11,542 — Derivatives designated as fair value hedges: Pay-fixed interest rate swaps Variability of fair value of fixed rate loans 1.94% SOFR 2.1 100,000 — — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.55% 1-Month LIBOR 4.5 1,555,804 Other assets / Other liabilities 21,947 (1,093) Pay-variable interest rate swaps 1-Month LIBOR 3.55% 4.5 1,555,804 Other assets / Other liabilities 2,517 (66,139) Pay-fixed interest rate swaps 4.12% SOFR 6.7 158,284 Other assets / Other liabilities 4,408 (1,179) Pay-variable interest rate swaps SOFR 4.12% 6.7 158,284 Other assets / Other liabilities 1,171 (4,408) Interest rate caps purchased, indexed to 1-month LIBOR 2.47% 3.2 49,130 Other assets 1,369 — Interest rate caps sold, indexed to 1-month LIBOR 2.47% 3.2 49,130 Other liabilities — (1,368) $ 5,631,436 $ 43,703 $ (74,187) December 31, 2021 Weighted Weighted Weighted 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 2.35% 3-Month LIBOR 2.6 $ 905,000 Other liabilities $ — $ (2,687) Pay-fixed forward-starting interest rate swaps Variability of interest cash flows on variable rate liabilities 0.87% Fed Funds Effective Rate 2.5 200,000 Other liabilities — — Interest rate caps purchased, indexed to Fed Funds effective rate Variability of interest cash flows on variable rate liabilities 1.00% 3.5 200,000 Other assets 3,260 — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.57% Indexed to 1-month LIBOR or SOFR 5.0 1,668,517 Other assets / Other liabilities 3,369 . (15,347) Pay-variable interest rate swaps Indexed to 1-month LIBOR or SOFR 3.57% 5.0 1,668,517 Other assets / Other liabilities 51,947 (6,837) Interest rate caps purchased, indexed to 1-month LIBOR 1.00% 4.0 25,000 Other assets 443 — Interest rate caps sold, indexed to 1-month LIBOR 1.00% 4.0 25,000 Other liabilities — (443) $ 4,692,034 $ 59,019 $ (25,314) The following table provides information about the amount of loss related to derivatives designated as cash flow hedges reclassified from AOCI into interest expense for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Location of loss reclassified from AOCI into income: Interest expense on borrowings $ (3,703) $ (14,882) $ (8,413) $ (29,857) Interest expense on deposits (455) — (1,177) — $ (4,158) $ (14,882) $ (9,590) $ (29,857) During the three and six months ended June 30, 2022 and 2021, 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 June 30, 2022, the amount of net gain expected to be reclassified from AOCI into earnings during the next twelve months was $15.8 million. See Note 7 to the consolidated financial statements for additional information about the reclassification adjustments from AOCI into earnings. The following table provides information about the amount of gain (loss) related to derivatives designated as fair value hedges recognized in earnings for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, Location of Gain (Loss) in Consolidated Statements of Income 2022 2021 2022 2021 Variability of fair value of fixed rate loans: Fair value adjustment on derivatives $ 1,197 $ — $ 1,897 $ — Interest income on loans Fair value adjustment on hedged items (1,252) — (1,985) — Interest income on loans Loss recognized on fair value hedges (ineffective portion) $ (55) $ — $ (88) $ — Variability of fair value of fixed rate borrowings: Fair value adjustment on derivatives $ — $ (669) $ — $ (1,496) Interest expense on borrowings Fair value adjustment on hedged items — 670 — 1,495 Interest expense on borrowings Gain (loss) recognized on fair value hedges (ineffective portion) $ — $ 1 $ — $ (1) Included in the table above are fair value hedges on fixed rate borrowings which matured during the year ended December 31, 2021. The following table provides information about the hedged items related to derivatives designated as fair value hedges at the dates indicated (in thousands): June 30, 2022 December 31, 2021 Location in Consolidated Balance Sheets Contractual balance outstanding of hedged item (1) $ 100,000 $ — Loans Cumulative fair value hedging adjustments $ (1,985) $ — Loans (1) This amount is included in the amortized cost basis of a closed portfolio of loans used to designate hedging relationships in a portfolio layer method hedge in which the hedged item is anticipated to be outstanding for the designated hedge period. At June 30, 2022, the amortized cost basis of the closed portfolio used in this hedging relationship was $1.1 billion. 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 and caps subject to these agreements is as follows at the dates indicated (in thousands): June 30, 2022 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Gross Amounts Derivative Collateral Net Amount Derivative assets $ 40,015 $ — $ 40,015 $ (3,339) $ (36,659) $ 17 Derivative liabilities (2,272) — (2,272) 3,339 — 1,067 $ 37,743 $ — $ 37,743 $ — $ (36,659) $ 1,084 December 31, 2021 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Gross Amounts Derivative Collateral Net Amount Derivative assets $ 7,072 $ — $ 7,072 $ (3,104) $ (3,915) $ 53 Derivative liabilities (18,034) — (18,034) 3,104 14,557 (373) $ (10,962) $ — $ (10,962) $ — $ 10,642 $ (320) 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 derivative contracts not subject to master netting agreements. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Stockholders' Equity | Note 7 Stockholders’ Equity Accumulated Other Comprehensive Income Changes in other comprehensive income are summarized as follows for the periods indicated (in thousands): Three Months Ended June 30, 2022 2021 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains (losses) on investment securities available for sale: Net unrealized holding gains (losses) arising during the period $ (240,498) $ 62,529 $ (177,969) $ 18,692 $ (4,766) $ 13,926 Amounts reclassified to gain on investment securities available for sale, net (905) 235 (670) (2,842) 724 (2,118) Net change in unrealized gains (losses) on investment securities available for sale (241,403) 62,764 (178,639) 15,850 (4,042) 11,808 Unrealized gains (losses) on derivative instruments: Net unrealized holding gains (losses) arising during the period 17,387 (4,521) 12,866 (12,005) 3,061 (8,944) Amounts reclassified to interest expense on deposits 455 (118) 337 — — — Amounts reclassified to interest expense on borrowings 3,703 (963) 2,740 14,882 (3,794) 11,088 Net change in unrealized gains (losses) on derivative instruments 21,545 (5,602) 15,943 2,877 (733) 2,144 Other comprehensive income (loss) $ (219,858) $ 57,162 $ (162,696) $ 18,727 $ (4,775) $ 13,952 Six Months Ended June 30, 2022 2021 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains (losses) on investment securities available for sale: Net unrealized holding losses arising during the period $ (476,932) $ 123,983 $ (352,949) $ (11,489) $ 2,930 $ (8,559) Amounts reclassified to gain on investment securities available for sale, net (3,578) 930 (2,648) (6,809) 1,736 (5,073) Net change in unrealized gains (losses) on investment securities available for sale (480,510) 124,913 (355,597) (18,298) 4,666 (13,632) Unrealized gains (losses) on derivative instruments: Net unrealized holding gains arising during the period 59,350 (15,305) 44,045 21,030 (5,363) 15,667 Amounts reclassified to interest expense on deposits 1,177 (306) 871 — — — Amounts reclassified to interest expense on borrowings 8,413 (2,187) 6,226 29,857 (7,613) 22,244 Net change in unrealized gains (losses) on derivative instruments 68,940 (17,798) 51,142 50,887 (12,976) 37,911 Other comprehensive income (loss) $ (411,570) $ 107,115 $ (304,455) $ 32,589 $ (8,310) $ 24,279 The categories of AOCI and changes therein are presented below for the periods indicated (in thousands): Three Months Ended June 30, Unrealized Gain (Loss) on Unrealized Gain (Loss) Total Balance at March 31, 2022 $ (174,099) $ 16,400 $ (157,699) Other comprehensive income (loss) (178,639) 15,943 (162,696) Balance at June 30, 2022 $ (352,738) $ 32,343 $ (320,395) Balance at March 31, 2021 $ 38,359 $ (77,184) $ (38,825) Other comprehensive income 11,808 2,144 13,952 Balance at June 30, 2021 $ 50,167 $ (75,040) $ (24,873) Six Months Ended June 30, Unrealized Gain (Loss) on Unrealized Gain (Loss) Total Balance at December 31, 2021 $ 2,859 $ (18,799) $ (15,940) Other comprehensive income (loss) (355,597) 51,142 (304,455) Balance at June 30, 2022 $ (352,738) $ 32,343 $ (320,395) Balance at December 31, 2020 $ 63,799 $ (112,951) $ (49,152) Other comprehensive income (loss) (13,632) 37,911 24,279 Balance at June 30, 2021 $ 50,167 $ (75,040) $ (24,873) |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 8 Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis The 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, non-mortgage asset-backed securities, single family real estate-backed securities, 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. 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. Any price discrepancies are resolved based on careful consideration of the assumptions and inputs employed by each of the pricing sources. Derivative financial instruments —Fair values of interest rate swaps and caps 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 benchmark swap rates and benchmark 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): June 30, 2022 Level 1 Level 2 Total Investment securities available for sale: U.S. Treasury securities $ 99,128 $ — $ 99,128 U.S. Government agency and sponsored enterprise residential MBS — 2,074,547 2,074,547 U.S. Government agency and sponsored enterprise commercial MBS — 575,294 575,294 Private label residential MBS and CMOs — 2,636,906 2,636,906 Private label commercial MBS — 2,684,630 2,684,630 Single family real estate-backed securities — 491,478 491,478 Collateralized loan obligations — 1,023,704 1,023,704 Non-mortgage asset-backed securities — 107,761 107,761 State and municipal obligations — 149,706 149,706 SBA securities — 159,493 159,493 Marketable equity securities 90,857 — 90,857 Derivative assets — 43,703 43,703 Total assets at fair value $ 189,985 $ 9,947,222 $ 10,137,207 Derivative liabilities $ — $ (74,187) $ (74,187) Total liabilities at fair value $ — $ (74,187) $ (74,187) December 31, 2021 Level 1 Level 2 Total Investment securities available for sale: U.S. Treasury securities $ 111,660 $ — $ 111,660 U.S. Government agency and sponsored enterprise residential MBS — 2,097,796 2,097,796 U.S. Government agency and sponsored enterprise commercial MBS — 856,899 856,899 Private label residential MBS and CMOs — 2,149,420 2,149,420 Private label commercial MBS — 2,604,010 2,604,010 Single family real estate-backed securities — 476,968 476,968 Collateralized loan obligations — 1,078,286 1,078,286 Non-mortgage asset-backed securities — 152,510 152,510 State and municipal obligations — 222,277 222,277 SBA securities — 183,595 183,595 Marketable equity securities 120,777 — 120,777 Servicing rights — 5,152 5,152 Derivative assets — 59,019 59,019 Total assets at fair value $ 232,437 $ 9,885,932 $ 10,118,369 Derivative liabilities $ — $ (25,314) $ (25,314) Total liabilities at fair value $ — $ (25,314) $ (25,314) Assets and liabilities measured at fair value on a non-recurring basi s 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. Collateral dependent loans and OREO —The carrying amount of collateral dependent loans is typically based on the fair value of the underlying collateral, which may be real estate or other business assets, less estimated costs to sell when repayment is expected to come from the sale of the collateral. 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. Fair value measurements related to collateral dependent loans and OREO are generally classified within level 3 of the fair value hierarchy. Operating lease equipment —Fair values of impaired operating lease equipment are typically based upon discounted cash flow analyses, considering expected lease rates and estimated end of life residual values, typically obtained from independent appraisals. These fair value measurements are classified within level 3 of the fair value hierarchy. The following table presents the net carrying value of assets classified within level 3 of the fair value hierarchy at the dates indicated, for which non-recurring changes in fair value were recorded during the period then ended (in thousands): June 30, 2022 December 31, 2021 Collateral dependent loans $ 41,030 $ 70,433 OREO 778 2,788 Operating lease equipment — 11,429 $ 41,808 $ 84,650 The following table presents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands): June 30, 2022 December 31, 2021 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 513,773 $ 513,773 $ 314,857 $ 314,857 Investment securities 1/2 $ 10,103,504 $ 10,103,600 $ 10,064,198 $ 10,064,887 Non-marketable equity securities 2 $ 213,409 $ 213,409 $ 135,859 $ 135,859 Loans, net 3 $ 23,969,775 $ 23,290,146 $ 23,638,596 $ 24,088,190 Derivative assets 2 $ 43,703 $ 43,703 $ 59,019 $ 59,019 Liabilities: Demand, savings and money market deposits 2 $ 25,736,318 $ 25,736,318 $ 26,053,859 $ 26,053,859 Time deposits 2 $ 2,724,581 $ 2,707,046 $ 3,384,243 $ 3,388,435 Federal funds purchased 2 $ — $ — $ 199,000 $ 199,000 FHLB advances 2 $ 4,005,000 $ 4,004,974 $ 1,905,000 $ 1,905,629 Notes and other borrowings 2 $ 721,166 $ 720,089 $ 721,416 $ 813,095 Derivative liabilities 2 $ 74,187 $ 74,187 $ 25,314 $ 25,314 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9 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 and consumer lines of credit to existing customers, for many of which additional extensions of credit are subject to borrowing base requirements. Some of these commitments may mature without being fully funded, so may not necessarily represent future liquidity requirements. 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 June 30, 2022 were as follows (in thousands): Commitments to fund loans $ 792,730 Unfunded commitments under lines of credit 4,534,085 Commercial and standby letters of credit 108,036 $ 5,434,851 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. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Accounting Estimates | 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. |
New Accounting Pronouncements Adopted During the Three Months Ended March 31, 2022 and Accounting Pronouncements Not Yet Adopted | New Accounting Pronouncements Adopted During the Six Months Ended June 30, 2022 ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) . This ASU simplifies the accounting for convertible debt and convertible preferred stock by reducing the number of accounting models for these instruments, resulting in fewer embedded conversion features being separately recognized from the host contract. Additionally, this ASU revises the criteria for determining whether contracts in an entity's own equity meet the scope exception from derivative accounting, which will change the population of contracts that are recognized as assets or liabilities. The amendments in this ASU also revise certain aspects of the guidance on calculating earnings per share with respect to convertible instruments and instruments that may be settled in the entity's own shares. The Company adopted this ASU on January 1, 2022, with no material impact on the Company's consolidated financial position, results of operations, and cash flows. ASU No. 2022-01, Fair Value Hedging—Portfolio Layer Method (Topic 815) . This ASU expands the portfolio layer method of hedge accounting prescribed in ASU No. 2017-12 to allow multiple hedged layers of a single closed portfolio and to include portfolios of both prepayable and non-prepayable financial assets. This scope expansion is consistent with the FASB’s efforts to simplify hedge accounting and allows entities to apply the same accounting method to similar hedging strategies. The ASU also specifies eligible hedging instruments in a single-layer hedge, provides additional guidance on accounting and disclosure of hedge basis adjustments and specifies how hedge basis adjustments should be considered in determining credit losses for assets in the designated closed portfolio. This ASU is effective for public business entities for interim and annual periods in fiscal years beginning after December 15, 2022. The Company adopted this ASU upon its release in March 2022 with no material impact on the Company's consolidated financial position, results of operations, and cash flows. ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326). This ASU eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, c 2022 2021 2022 2021 Basic earnings per common share: Numerator: Net income $ 65,764 $ 103,974 $ 132,914 $ 202,788 Distributed and undistributed earnings allocated to participating securities (999) (1,338) (1,927) (2,589) Income allocated to common stockholders for basic earnings per common share $ 64,765 $ 102,636 $ 130,987 $ 200,199 Denominator: Weighted average common shares outstanding 80,300,069 93,245,282 82,629,098 93,160,962 Less average unvested stock awards (1,257,258) (1,241,381) (1,234,678) (1,223,555) Weighted average shares for basic earnings per common share 79,042,811 92,003,901 81,394,420 91,937,407 Basic earnings per common share $ 0.82 $ 1.12 $ 1.61 $ 2.18 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 64,765 $ 102,636 $ 130,987 $ 200,199 Adjustment for earnings reallocated from participating securities 3 2 4 3 Income used in calculating diluted earnings per common share $ 64,768 $ 102,638 $ 130,991 $ 200,202 Denominator: Weighted average shares for basic earnings per common share 79,042,811 92,003,901 81,394,420 91,937,407 Dilutive effect of certain share-based awards 350,734 181,061 244,808 137,542 Weighted average shares for diluted earnings per common share 79,393,545 92,184,962 81,639,228 92,074,949 Diluted earnings per common share $ 0.82 $ 1.11 $ 1.60 $ 2.17 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
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 the dates indicated (in thousands): June 30, 2022 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 109,422 $ — $ (10,294) $ 99,128 U.S. Government agency and sponsored enterprise residential MBS 2,107,130 1,527 (34,110) 2,074,547 U.S. Government agency and sponsored enterprise commercial MBS 628,430 141 (53,277) 575,294 Private label residential MBS and CMOs 2,870,519 107 (233,720) 2,636,906 Private label commercial MBS 2,779,138 202 (94,710) 2,684,630 Single family real estate-backed securities 509,971 176 (18,669) 491,478 Collateralized loan obligations 1,047,036 — (23,332) 1,023,704 Non-mortgage asset-backed securities 111,961 4 (4,204) 107,761 State and municipal obligations 154,729 508 (5,531) 149,706 SBA securities 160,986 1,322 (2,815) 159,493 10,479,322 $ 3,987 $ (480,662) 10,002,647 Investment securities held to maturity 10,000 10,000 $ 10,489,322 10,012,647 Marketable equity securities 90,857 $ 10,103,504 | December 31, 2021 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 114,385 $ 173 $ (2,898) $ 111,660 U.S. Government agency and sponsored enterprise residential MBS 2,093,283 12,934 (8,421) 2,097,796 U.S. Government agency and sponsored enterprise commercial MBS 861,925 5,287 (10,313) 856,899 Private label residential MBS and CMOs 2,160,136 3,575 (14,291) 2,149,420 Private label commercial MBS 2,604,690 7,843 (8,523) 2,604,010 Single family real estate-backed securities 474,845 5,031 (2,908) 476,968 Collateralized loan obligations 1,079,217 598 (1,529) 1,078,286 Non-mortgage asset-backed securities 151,091 1,419 — 152,510 State and municipal obligations 205,718 16,559 — 222,277 SBA securities 184,296 2,027 (2,728) 183,595 9,929,586 $ 55,446 $ (51,611) 9,933,421 Investment securities held to maturity 10,000 10,000 $ 9,939,586 9,943,421 Marketable equity securities 120,777 $ 10,064,198 (1) At fair value except for securities held to maturity. |
Investments Classified by Contractual Maturity Date | At June 30, 2022, contractual maturities of investment securities available for sale, adjusted for anticipated prepayments when applicable, were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,547,866 $ 1,488,239 Due after one year through five years 6,167,133 5,953,142 Due after five years through ten years 1,949,056 1,814,202 Due after ten years 815,267 747,064 $ 10,479,322 $ 10,002,647 | |
Gain on Investment Securities, net | The following table provides information about gains and losses on investment securities for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Proceeds from sale of investment securities AFS $ 228,462 $ 389,814 $ 710,769 $ 800,056 Gross realized gains on investment securities AFS $ 956 $ 2,870 $ 3,706 $ 6,862 Gross realized losses on investment securities AFS (51) (29) (128) (54) Net realized gain 905 2,841 3,578 6,808 Net unrealized gains (losses) on marketable equity securities recognized in earnings (9,297) 1,314 (19,838) (288) Gain (loss) on investment securities, net $ (8,392) $ 4,155 $ (16,260) $ 6,520 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The following tables present the aggregate fair value and the aggregate amount by which amortized cost exceeded fair value for investment securities available for sale in unrealized loss positions aggregated by investment category and length of time that individual securities had been in continuous unrealized loss positions at the dates indicated (in thousands): June 30, 2022 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 $ 57,284 $ (2,696) $ 41,844 $ (7,598) $ 99,128 $ (10,294) U.S. Government agency and sponsored enterprise residential MBS 1,244,332 (19,221) 456,536 (14,889) 1,700,868 (34,110) U.S. Government agency and sponsored enterprise commercial MBS 457,209 (34,781) 95,530 (18,496) 552,739 (53,277) Private label residential MBS and CMOs 2,539,475 (223,743) 62,366 (9,977) 2,601,841 (233,720) Private label commercial MBS 2,270,765 (71,414) 291,828 (23,296) 2,562,593 (94,710) Single family real estate-backed securities 380,879 (14,076) 52,737 (4,593) 433,616 (18,669) Collateralized loan obligations 707,837 (18,421) 213,367 (4,911) 921,204 (23,332) Non-mortgage asset-backed securities 105,767 (4,204) — — 105,767 (4,204) State and municipal obligations 99,041 (5,531) — — 99,041 (5,531) SBA securities 44 (1) 86,632 (2,814) 86,676 (2,815) $ 7,862,633 $ (394,088) $ 1,300,840 $ (86,574) $ 9,163,473 $ (480,662) December 31, 2021 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 $ 49,328 $ (591) $ 47,102 $ (2,307) $ 96,430 $ (2,898) U.S. Government agency and sponsored enterprise residential MBS 436,744 (4,549) 401,022 (3,872) 837,766 (8,421) U.S. Government agency and sponsored enterprise commercial MBS 247,323 (4,084) 163,380 (6,229) 410,703 (10,313) Private label residential MBS and CMOs 1,552,946 (13,933) 23,355 (358) 1,576,301 (14,291) Private label commercial MBS 1,338,288 (6,085) 171,490 (2,438) 1,509,778 (8,523) Single family real estate-backed securities 154,552 (2,908) — — 154,552 (2,908) Collateralized loan obligations 318,555 (445) 319,192 (1,084) 637,747 (1,529) SBA securities 496 — 99,599 (2,728) 100,095 (2,728) $ 4,098,232 $ (32,595) $ 1,225,140 $ (19,016) $ 5,323,372 $ (51,611) |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans consisted of the following at the dates indicated (dollars in thousands): June 30, 2022 December 31, 2021 Total Percent of Total Total Percent of Total Residential and other consumer: 1-4 single family residential $ 6,907,681 28.7 % $ 6,338,225 26.7 % Government insured residential 1,928,779 8.0 % 2,023,221 8.5 % Other consumer loans 3,927 — % 6,934 — % 8,840,387 36.7 % 8,368,380 35.2 % Commercial: Multi-family 1,017,500 4.2 % 1,154,738 4.9 % Non-owner occupied commercial real estate 4,276,697 17.7 % 4,381,610 18.4 % Construction and land 213,833 0.9 % 165,390 0.7 % Owner occupied commercial real estate 1,907,349 7.9 % 1,944,658 8.2 % Commercial and industrial 5,423,998 22.5 % 4,790,275 20.2 % PPP 29,828 0.1 % 248,505 1.0 % Pinnacle 977,930 4.1 % 919,641 3.9 % Bridge - franchise finance 262,570 1.1 % 342,124 1.4 % Bridge - equipment finance 333,125 1.4 % 357,599 1.5 % Mortgage warehouse lending 816,797 3.4 % 1,092,133 4.6 % 15,259,627 63.3 % 15,396,673 64.8 % Total loans 24,100,014 100.0 % 23,765,053 100.0 % Allowance for credit losses (130,239) (126,457) Loans, net $ 23,969,775 $ 23,638,596 The following table presents the amortized cost basis of residential PCD loans and the related amount of non-credit discount, net of the related ACL, at the dates indicated (in thousands): June 30, 2022 December 31, 2021 UPB $ 107,721 $ 124,963 Non-credit discount (50,589) (59,759) Total amortized cost of PCD loans 57,132 65,204 ACL related to PCD loans (542) (476) PCD loans, net $ 56,590 $ 64,728 |
Allowance for Credit Losses on Financing Receivables | The ACL was determined utilizing a 2-year reasonable and supportable forecast period. The quantitative portion of the ACL was determined using a single third-party provided economic scenario. Activity in the ACL is summarized below for the periods indicated (in thousands): Three Months Ended June 30, 2022 2021 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 8,957 $ 116,486 $ 125,443 $ 15,844 $ 205,090 $ 220,934 Provision (recovery) 448 22,759 23,207 (3,938) (23,725) (27,663) Charge-offs (412) (20,567) (20,979) — (18,402) (18,402) Recoveries 17 2,551 2,568 3 770 773 Ending balance $ 9,010 $ 121,229 $ 130,239 $ 11,909 $ 163,733 $ 175,642 Six Months Ended June 30, 2022 2021 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 9,187 $ 117,270 $ 126,457 $ 18,719 $ 238,604 $ 257,323 Provision (recovery) 192 30,461 30,653 (6,802) (47,167) (53,969) Charge-offs (412) (31,238) (31,650) (14) (30,380) (30,394) Recoveries 43 4,736 4,779 6 2,676 2,682 Ending balance $ 9,010 $ 121,229 $ 130,239 $ 11,909 $ 163,733 $ 175,642 The increase in the ACL from December 31, 2021 to June 30, 2022 reflected the provision for credit losses, offset by net charge-offs. Factors impacting the provision for credit losses for the six months ended June 30, 2022 included an increase in qualitative loss factors related primarily to economic uncertainty, loan growth, the decline in criticized and classified assets, and an increase in specific reserves. The following table presents the components of the provision for (recovery of) credit losses for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Amount related to funded portion of loans $ 23,207 $ (27,663) $ 30,653 $ (53,969) Amount related to off-balance sheet credit exposures 916 129 1,300 (919) Other (127) — (127) (635) Total provision for (recovery of) credit losses $ 23,996 $ (27,534) $ 31,826 $ (55,523) |
Financing Receivable Credit Quality Indicators | FICO scores are generally updated at least annually, and were most recently updated in the first quarter of 2022. LTVs are typically at origination since we do not routinely update residential appraisals. Substantially all of the government insured residential loans are government insured buyout loans, which the Company buys out of GNMA securitizations upon default. For these loans, traditional measures of credit quality are not particularly relevant considering the guaranteed nature of the loans and the underlying business model. Factors that impact risk inherent in the residential portfolio segment include national and regional economic conditions such as levels of unemployment and wages, as well as residential property values. 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on delinquency status: June 30, 2022 Amortized Cost By Origination Year 2022 2021 2020 2019 2018 Prior Total Current $ 664,630 $ 3,255,371 $ 954,681 $ 339,083 $ 190,213 $ 1,448,027 $ 6,852,005 30 - 59 Days Past Due 7,153 19,527 4,812 2,329 72 5,498 39,391 60 - 89 Days Past Due — 1,177 1,949 1,024 87 502 4,739 90 Days or More Past Due — 214 302 — 2,998 8,032 11,546 $ 671,783 $ 3,276,289 $ 961,744 $ 342,436 $ 193,370 $ 1,462,059 $ 6,907,681 December 31, 2021 Amortized Cost By Origination Year 2021 2020 2019 2018 2017 Prior Total Current $ 2,884,761 $ 1,062,348 $ 395,453 $ 224,175 $ 342,414 $ 1,352,844 $ 6,261,995 30 - 59 Days Past Due 32,307 2,705 5,482 1,942 5,831 4,825 53,092 60 - 89 Days Past Due 605 — 1,750 1,988 — 1,307 5,650 90 Days or More Past Due 1,407 — 609 5,100 1,064 9,308 17,488 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on LTV: June 30, 2022 Amortized Cost By Origination Year LTV 2022 2021 2020 2019 2018 Prior Total Less than 61% $ 195,295 $ 1,348,565 $ 368,526 $ 82,499 $ 45,328 $ 514,035 $ 2,554,248 61% - 70% 165,534 884,488 241,816 83,770 50,998 350,051 1,776,657 71% - 80% 308,253 1,007,062 351,327 170,620 92,557 552,791 2,482,610 More than 80% 2,701 36,174 75 5,547 4,487 45,182 94,166 $ 671,783 $ 3,276,289 $ 961,744 $ 342,436 $ 193,370 $ 1,462,059 $ 6,907,681 December 31, 2021 Amortized Cost By Origination Year LTV 2021 2020 2019 2018 2017 Prior Total Less than 61% $ 1,222,510 $ 399,512 $ 89,078 $ 54,301 $ 111,540 $ 476,170 $ 2,353,111 61% - 70 % 791,935 269,739 92,282 59,425 66,641 343,654 1,623,676 71% - 80% 899,400 395,726 212,649 111,276 145,413 518,817 2,283,281 More than 80% 5,235 76 9,285 8,203 25,715 29,643 78,157 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on FICO score: June 30, 2022 Amortized Cost By Origination Year FICO 2022 2021 2020 2019 2018 Prior Total 760 or greater $ 441,901 $ 2,442,807 $ 776,830 $ 219,807 $ 112,937 $ 1,018,235 $ 5,012,517 720 - 759 171,852 632,539 121,052 64,889 36,713 239,878 1,266,923 719 or less 58,030 200,943 63,862 57,740 43,720 203,946 628,241 $ 671,783 $ 3,276,289 $ 961,744 $ 342,436 $ 193,370 $ 1,462,059 $ 6,907,681 December 31, 2021 Amortized Cost By Origination Year FICO 2021 2020 2019 2018 2017 Prior Total 760 or greater $ 2,230,259 $ 803,026 $ 245,942 $ 125,713 $ 254,750 $ 937,285 $ 4,596,975 720 - 759 562,763 194,068 91,276 53,576 54,080 219,561 1,175,324 719 or less 126,058 67,959 66,076 53,916 40,479 211,438 565,926 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 Credit quality indicators for commercial loans Factors that impact risk inherent in commercial portfolio segments include but are not limited to levels of economic activity, health of the national and regional economy, industry trends, patterns of and trends in customer behavior that influence demand for our borrowers' products and services, and commercial real estate values. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial loans. Internal risk ratings are generally indicative of the likelihood that a borrower will default, are a key factor influencing the level and nature of ongoing monitoring of loans and may impact the estimation of the ACL. 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 could result in deterioration of repayment prospects at some future date if not checked or corrected 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 from current operations, 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. Commercial credit exposure based on internal risk rating: June 30, 2022 Amortized Cost By Origination Year Revolving Loans 2022 2021 2020 2019 2018 Prior Total CRE Pass $ 564,674 $ 876,951 $ 565,942 $ 1,209,406 $ 553,614 $ 1,214,629 $ 93,687 $ 5,078,903 Special mention — — — 1,789 — 2,045 — 3,834 Substandard 12,545 1,355 25,280 112,782 58,761 214,570 — 425,293 Total CRE $ 577,219 $ 878,306 $ 591,222 $ 1,323,977 $ 612,375 $ 1,431,244 $ 93,687 $ 5,508,030 C&I (1) Pass $ 920,906 $ 867,112 $ 530,609 $ 715,269 $ 416,247 $ 953,082 $ 2,476,464 $ 6,879,689 Special mention 21 21,952 842 35,878 15,569 5,016 6,041 85,319 Substandard 1,299 11,346 29,667 123,673 48,613 124,631 55,824 395,053 Doubtful — — — — — — 1,114 1,114 Total C&I $ 922,226 $ 900,410 $ 561,118 $ 874,820 $ 480,429 $ 1,082,729 $ 2,539,443 $ 7,361,175 Pinnacle Pass $ 125,811 $ 137,899 $ 96,853 $ 76,038 $ 33,427 $ 507,902 $ — $ 977,930 Total Pinnacle $ 125,811 $ 137,899 $ 96,853 $ 76,038 $ 33,427 $ 507,902 $ — $ 977,930 Bridge - Equipment Finance Pass $ 25,216 $ 66,235 $ 17,575 $ 103,826 $ 40,804 $ 56,085 $ — $ 309,741 Substandard — — — 1,753 — 21,631 — 23,384 Total Bridge - Equipment Finance $ 25,216 $ 66,235 $ 17,575 $ 105,579 $ 40,804 $ 77,716 $ — $ 333,125 Bridge - Franchise Finance Pass $ 15,549 $ 34,963 $ 44,320 $ 79,457 $ 11,192 $ 9,045 $ — $ 194,526 Substandard — 1,924 2,346 26,449 19,061 11,407 — 61,187 Doubtful — — — 2,651 4,206 — — 6,857 Total Bridge - Franchise Finance $ 15,549 $ 36,887 $ 46,666 $ 108,557 $ 34,459 $ 20,452 $ — $ 262,570 Mortgage Warehouse Lending Pass $ — $ — $ — $ — $ — $ — $ 816,797 $ 816,797 Total Mortgage Warehouse Lending $ — $ — $ — $ — $ — $ — $ 816,797 $ 816,797 December 31, 2021 Amortized Cost By Origination Year Revolving Loans 2021 2020 2019 2018 2017 Prior Total CRE Pass $ 869,852 $ 619,056 $ 1,283,401 $ 676,151 $ 455,965 $ 986,427 $ 119,308 $ 5,010,160 Special mention 985 — 29,573 — — 1,704 — 32,262 Substandard — 14,227 187,284 55,944 115,944 285,917 — 659,316 Total CRE $ 870,837 $ 633,283 $ 1,500,258 $ 732,095 $ 571,909 $ 1,274,048 $ 119,308 $ 5,701,738 C&I (1) Pass $ 1,280,160 $ 666,437 $ 870,797 $ 406,145 $ 353,590 $ 669,308 $ 2,120,693 $ 6,367,130 Special mention 6,051 19,861 39,647 17,185 1,854 11,640 20,093 116,331 Substandard 365 22,106 167,496 59,349 51,117 122,663 49,119 472,215 Doubtful — — 900 — — — 26,862 27,762 Total C&I $ 1,286,576 $ 708,404 $ 1,078,840 $ 482,679 $ 406,561 $ 803,611 $ 2,216,767 $ 6,983,438 Pinnacle Pass $ 143,063 $ 113,785 $ 88,206 $ 36,761 $ 177,258 $ 360,568 $ — $ 919,641 Total Pinnacle $ 143,063 $ 113,785 $ 88,206 $ 36,761 $ 177,258 $ 360,568 $ — $ 919,641 Bridge - Equipment Finance Pass $ 73,190 $ 18,763 $ 108,990 $ 43,826 $ 23,684 $ 48,471 $ — $ 316,924 Substandard — — 12,875 4,775 23,025 — — 40,675 Total Bridge - Equipment Finance $ 73,190 $ 18,763 $ 121,865 $ 48,601 $ 46,709 $ 48,471 $ — $ 357,599 Bridge - Franchise Finance Pass $ 49,949 $ 51,057 $ 104,299 $ 10,199 $ 7,039 $ 5,838 $ — $ 228,381 Substandard — 7,351 39,588 30,134 8,660 8,018 — 93,751 Doubtful — — 7,718 12,274 — — — 19,992 Total Bridge - Franchise Finance $ 49,949 $ 58,408 $ 151,605 $ 52,607 $ 15,699 $ 13,856 $ — $ 342,124 Mortgage Warehouse Lending Pass $ — $ — $ — $ — $ — $ — $ 1,092,133 $ 1,092,133 Total Mortgage Warehouse Lending $ — $ — $ — $ — $ — $ — $ 1,092,133 $ 1,092,133 (1) Includes PPP loans. At June 30, 2022 and December 31, 2021, the balance of revolving loans converted to term loans was immaterial. The following tables summarize the Company's commercial credit exposure based on internal risk rating, in aggregate, at the dates indicated (in thousands): June 30, 2022 Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial PPP Pinnacle Bridge - Franchise Finance Bridge - Equipment Finance Mortgage Warehouse Lending Total Pass $ 818,882 $ 4,063,154 $ 196,867 $ 1,765,372 $ 5,084,489 $ 29,828 $ 977,930 $ 194,526 $ 309,741 $ 816,797 $ 14,257,586 Special mention — 2,045 1,789 9,065 76,254 — — — — — 89,153 Substandard - accruing 188,032 194,477 9,519 111,082 207,272 — — 53,633 23,384 — 787,399 Substandard non-accruing 10,586 17,021 5,658 21,830 54,869 — — 7,554 — — 117,518 Doubtful — — — — 1,114 — — 6,857 — — 7,971 $ 1,017,500 $ 4,276,697 $ 213,833 $ 1,907,349 $ 5,423,998 $ 29,828 $ 977,930 $ 262,570 $ 333,125 $ 816,797 $ 15,259,627 December 31, 2021 Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial PPP Pinnacle Bridge - Franchise Finance Bridge - Equipment Finance Mortgage Warehouse Lending Total Pass $ 970,337 $ 3,892,353 $ 147,470 $ 1,750,035 $ 4,368,590 $ 248,505 $ 919,641 $ 228,381 $ 316,924 $ 1,092,133 $ 13,934,369 Special mention — 26,088 6,174 14,010 102,321 — — — — — 148,593 Substandard -accruing 173,536 423,918 6,582 160,159 250,644 — — 80,864 40,675 — 1,136,378 Substandard non-accruing 10,865 39,251 5,164 20,454 40,958 — — 12,887 — — 129,579 Doubtful — — — — 27,762 — — 19,992 — — 47,754 $ 1,154,738 $ 4,381,610 $ 165,390 $ 1,944,658 $ 4,790,275 $ 248,505 $ 919,641 $ 342,124 $ 357,599 $ 1,092,133 $ 15,396,673 |
Financing Receivable, Past Due | The following table presents an aging of loans at the dates indicated (in thousands): June 30, 2022 December 31, 2021 Current 30 - 59 60 - 89 90 Days or Total Current 30 - 59 60 - 89 90 Days or Total 1-4 single family residential $ 6,852,005 $ 39,391 $ 4,739 $ 11,546 $ 6,907,681 $ 6,261,995 $ 53,092 $ 5,650 $ 17,488 $ 6,338,225 Government insured residential 1,097,481 139,631 86,849 604,818 1,928,779 1,034,686 143,672 115,028 729,835 2,023,221 Other consumer loans 3,927 — — — 3,927 6,919 15 — — 6,934 Multi-family 1,015,362 — — 2,138 1,017,500 1,135,363 6,017 11,220 2,138 1,154,738 Non-owner occupied commercial real estate 4,263,032 2,216 2,680 8,769 4,276,697 4,359,671 2,727 29 19,183 4,381,610 Construction and land 208,612 — 4,209 1,012 213,833 160,183 492 4,369 346 165,390 Owner occupied commercial real estate 1,892,327 266 1,705 13,051 1,907,349 1,930,932 — 1,402 12,324 1,944,658 Commercial and industrial 5,392,155 1,282 11,637 18,924 5,423,998 4,763,976 2,114 11,016 13,169 4,790,275 PPP 21,316 6,008 2,504 — 29,828 247,740 765 — — 248,505 Pinnacle 977,930 — — — 977,930 919,641 — — — 919,641 Bridge - franchise finance 251,572 — 1,300 9,698 262,570 331,397 — 6,735 3,992 342,124 Bridge - equipment finance 333,125 — — — 333,125 357,599 — — — 357,599 Mortgage warehouse lending 816,797 — — — 816,797 1,092,133 — — — 1,092,133 $ 23,125,641 $ 188,794 $ 115,623 $ 669,956 $ 24,100,014 $ 22,602,235 $ 208,894 $ 155,449 $ 798,475 $ 23,765,053 |
Financing Receivable, Nonaccrual | The following table presents information about loans on non-accrual status at the dates indicated (in thousands): June 30, 2022 December 31, 2021 Amortized Cost Amortized Cost With No Related Allowance Amortized Cost Amortized Cost With No Related Allowance Residential and other consumer $ 18,510 $ — $ 28,553 $ 1,684 Commercial: Multi-family 10,586 10,586 10,865 10,865 Non-owner occupied commercial real estate 17,021 2,257 39,251 20,929 Construction and land 5,658 4,209 5,164 4,369 Owner occupied commercial real estate 21,830 8,789 20,453 4,457 Commercial and industrial 55,983 12,605 68,720 10,083 Bridge - franchise finance 14,410 8,925 32,879 16,808 $ 143,998 $ 47,371 $ 205,885 $ 69,195 |
Schedule of Collateral Dependent Loans | The following table presents the amortized cost basis of collateral dependent loans at the dates indicated (in thousands): June 30, 2022 December 31, 2021 Amortized Cost Extent to Which Secured by Collateral Amortized Cost Extent to Which Secured by Collateral Residential and other consumer $ 741 $ 741 $ 2,317 $ 2,295 Commercial: Multi-family 10,586 10,586 10,865 10,865 Non-owner occupied commercial real estate 21,422 20,718 29,001 28,486 Construction and land 4,555 4,555 4,715 4,715 Owner occupied commercial real estate 17,851 17,699 15,198 15,155 Commercial and industrial 32,303 29,375 45,015 37,020 Bridge - franchise finance 11,569 10,193 26,055 18,740 Total commercial 98,286 93,126 130,849 114,981 $ 99,027 $ 93,867 $ 133,166 $ 117,276 |
Financing Receivable, Troubled Debt Restructuring | Troubled debt restructurings The following table summarizes loans that were modified in TDRs during the periods indicated, as well as loans modified during the twelve months preceding June 30, 2022 and 2021 that experienced payment defaults during those periods (dollars in thousands): Three Months Ended June 30, 2022 2021 Loans Modified in TDRs TDRs Experiencing Payment Defaults During the Period Loans Modified in TDRs TDRs Experiencing Payment Number of Amortized Cost Number of Amortized Cost Number of Amortized Cost Number of Amortized Cost 1-4 single family residential 5 $ 3,337 — $ — — $ — — $ — Government insured residential 1,373 215,245 380 60,577 116 21,758 54 9,878 Non-owner occupied commercial real estate — — — — 1 2,853 — — Commercial and industrial 6 20,424 1 1,061 — — — — 1,384 $ 239,006 381 $ 61,638 117 $ 24,611 54 $ 9,878 Six Months Ended June 30, 2022 2021 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Amortized Cost Number of Amortized Cost Number of Amortized Cost Number of Amortized Cost 1-4 single family residential 9 $ 5,314 — $ — — $ — — $ — Government insured residential 1,756 277,146 411 66,033 143 27,235 63 10,997 Non-owner occupied commercial real estate — — — — 1 2,853 — — Commercial and industrial 14 35,482 1 1,061 — — — — 1,779 $ 317,942 412 $ 67,094 144 $ 30,088 $ 63 $ 10,997 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Interest Rate Contract Derivative Financial Instruments and Related Hedged Items | The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands): June 30, 2022 Weighted Weighted Weighted 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 2.5 $ 780,000 Other assets $ 749 $ — Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.27% SOFR 2.2 625,000 — — Pay-fixed interest rate swaps Variability of interest cash flows on variable rate liabilities 1.22% Fed Funds Effective Rate 2.2 400,000 — — Interest rate caps purchased, indexed to Fed Funds effective rate Variability of interest cash flows on variable rate liabilities 0.88% 3.0 200,000 Other assets 11,542 — Derivatives designated as fair value hedges: Pay-fixed interest rate swaps Variability of fair value of fixed rate loans 1.94% SOFR 2.1 100,000 — — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.55% 1-Month LIBOR 4.5 1,555,804 Other assets / Other liabilities 21,947 (1,093) Pay-variable interest rate swaps 1-Month LIBOR 3.55% 4.5 1,555,804 Other assets / Other liabilities 2,517 (66,139) Pay-fixed interest rate swaps 4.12% SOFR 6.7 158,284 Other assets / Other liabilities 4,408 (1,179) Pay-variable interest rate swaps SOFR 4.12% 6.7 158,284 Other assets / Other liabilities 1,171 (4,408) Interest rate caps purchased, indexed to 1-month LIBOR 2.47% 3.2 49,130 Other assets 1,369 — Interest rate caps sold, indexed to 1-month LIBOR 2.47% 3.2 49,130 Other liabilities — (1,368) $ 5,631,436 $ 43,703 $ (74,187) December 31, 2021 Weighted Weighted Weighted 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 2.35% 3-Month LIBOR 2.6 $ 905,000 Other liabilities $ — $ (2,687) Pay-fixed forward-starting interest rate swaps Variability of interest cash flows on variable rate liabilities 0.87% Fed Funds Effective Rate 2.5 200,000 Other liabilities — — Interest rate caps purchased, indexed to Fed Funds effective rate Variability of interest cash flows on variable rate liabilities 1.00% 3.5 200,000 Other assets 3,260 — Derivatives not designated as hedges: Pay-fixed interest rate swaps 3.57% Indexed to 1-month LIBOR or SOFR 5.0 1,668,517 Other assets / Other liabilities 3,369 . (15,347) Pay-variable interest rate swaps Indexed to 1-month LIBOR or SOFR 3.57% 5.0 1,668,517 Other assets / Other liabilities 51,947 (6,837) Interest rate caps purchased, indexed to 1-month LIBOR 1.00% 4.0 25,000 Other assets 443 — Interest rate caps sold, indexed to 1-month LIBOR 1.00% 4.0 25,000 Other liabilities — (443) $ 4,692,034 $ 59,019 $ (25,314) |
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 loss related to derivatives designated as cash flow hedges reclassified from AOCI into interest expense for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Location of loss reclassified from AOCI into income: Interest expense on borrowings $ (3,703) $ (14,882) $ (8,413) $ (29,857) Interest expense on deposits (455) — (1,177) — $ (4,158) $ (14,882) $ (9,590) $ (29,857) |
Schedule of Fair Value 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 fair value hedges recognized in earnings for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, Location of Gain (Loss) in Consolidated Statements of Income 2022 2021 2022 2021 Variability of fair value of fixed rate loans: Fair value adjustment on derivatives $ 1,197 $ — $ 1,897 $ — Interest income on loans Fair value adjustment on hedged items (1,252) — (1,985) — Interest income on loans Loss recognized on fair value hedges (ineffective portion) $ (55) $ — $ (88) $ — Variability of fair value of fixed rate borrowings: Fair value adjustment on derivatives $ — $ (669) $ — $ (1,496) Interest expense on borrowings Fair value adjustment on hedged items — 670 — 1,495 Interest expense on borrowings Gain (loss) recognized on fair value hedges (ineffective portion) $ — $ 1 $ — $ (1) |
Derivative and Hedging Activities - Carrying Value of Hedged Item and Cumulative Fair Value Adjustments [Table Text Block] | The following table provides information about the hedged items related to derivatives designated as fair value hedges at the dates indicated (in thousands): June 30, 2022 December 31, 2021 Location in Consolidated Balance Sheets Contractual balance outstanding of hedged item (1) $ 100,000 $ — Loans Cumulative fair value hedging adjustments $ (1,985) $ — Loans (1) This amount is included in the amortized cost basis of a closed portfolio of loans used to designate hedging relationships in a portfolio layer method hedge in which the hedged item is anticipated to be outstanding for the designated hedge period. At June 30, 2022, the amortized cost basis of the closed portfolio used in this hedging relationship was $1.1 billion. |
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 and caps subject to these agreements is as follows at the dates indicated (in thousands): June 30, 2022 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Gross Amounts Derivative Collateral Net Amount Derivative assets $ 40,015 $ — $ 40,015 $ (3,339) $ (36,659) $ 17 Derivative liabilities (2,272) — (2,272) 3,339 — 1,067 $ 37,743 $ — $ 37,743 $ — $ (36,659) $ 1,084 December 31, 2021 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Gross Amounts Derivative Collateral Net Amount Derivative assets $ 7,072 $ — $ 7,072 $ (3,104) $ (3,915) $ 53 Derivative liabilities (18,034) — (18,034) 3,104 14,557 (373) $ (10,962) $ — $ (10,962) $ — $ 10,642 $ (320) |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Schedule of Changes in AOCI | Changes in other comprehensive income are summarized as follows for the periods indicated (in thousands): Three Months Ended June 30, 2022 2021 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains (losses) on investment securities available for sale: Net unrealized holding gains (losses) arising during the period $ (240,498) $ 62,529 $ (177,969) $ 18,692 $ (4,766) $ 13,926 Amounts reclassified to gain on investment securities available for sale, net (905) 235 (670) (2,842) 724 (2,118) Net change in unrealized gains (losses) on investment securities available for sale (241,403) 62,764 (178,639) 15,850 (4,042) 11,808 Unrealized gains (losses) on derivative instruments: Net unrealized holding gains (losses) arising during the period 17,387 (4,521) 12,866 (12,005) 3,061 (8,944) Amounts reclassified to interest expense on deposits 455 (118) 337 — — — Amounts reclassified to interest expense on borrowings 3,703 (963) 2,740 14,882 (3,794) 11,088 Net change in unrealized gains (losses) on derivative instruments 21,545 (5,602) 15,943 2,877 (733) 2,144 Other comprehensive income (loss) $ (219,858) $ 57,162 $ (162,696) $ 18,727 $ (4,775) $ 13,952 Six Months Ended June 30, 2022 2021 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains (losses) on investment securities available for sale: Net unrealized holding losses arising during the period $ (476,932) $ 123,983 $ (352,949) $ (11,489) $ 2,930 $ (8,559) Amounts reclassified to gain on investment securities available for sale, net (3,578) 930 (2,648) (6,809) 1,736 (5,073) Net change in unrealized gains (losses) on investment securities available for sale (480,510) 124,913 (355,597) (18,298) 4,666 (13,632) Unrealized gains (losses) on derivative instruments: Net unrealized holding gains arising during the period 59,350 (15,305) 44,045 21,030 (5,363) 15,667 Amounts reclassified to interest expense on deposits 1,177 (306) 871 — — — Amounts reclassified to interest expense on borrowings 8,413 (2,187) 6,226 29,857 (7,613) 22,244 Net change in unrealized gains (losses) on derivative instruments 68,940 (17,798) 51,142 50,887 (12,976) 37,911 Other comprehensive income (loss) $ (411,570) $ 107,115 $ (304,455) $ 32,589 $ (8,310) $ 24,279 |
Schedule of the Categories of AOCI and Changes Therein | The categories of AOCI and changes therein are presented below for the periods indicated (in thousands): Three Months Ended June 30, Unrealized Gain (Loss) on Unrealized Gain (Loss) Total Balance at March 31, 2022 $ (174,099) $ 16,400 $ (157,699) Other comprehensive income (loss) (178,639) 15,943 (162,696) Balance at June 30, 2022 $ (352,738) $ 32,343 $ (320,395) Balance at March 31, 2021 $ 38,359 $ (77,184) $ (38,825) Other comprehensive income 11,808 2,144 13,952 Balance at June 30, 2021 $ 50,167 $ (75,040) $ (24,873) Six Months Ended June 30, Unrealized Gain (Loss) on Unrealized Gain (Loss) Total Balance at December 31, 2021 $ 2,859 $ (18,799) $ (15,940) Other comprehensive income (loss) (355,597) 51,142 (304,455) Balance at June 30, 2022 $ (352,738) $ 32,343 $ (320,395) Balance at December 31, 2020 $ 63,799 $ (112,951) $ (49,152) Other comprehensive income (loss) (13,632) 37,911 24,279 Balance at June 30, 2021 $ 50,167 $ (75,040) $ (24,873) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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): June 30, 2022 Level 1 Level 2 Total Investment securities available for sale: U.S. Treasury securities $ 99,128 $ — $ 99,128 U.S. Government agency and sponsored enterprise residential MBS — 2,074,547 2,074,547 U.S. Government agency and sponsored enterprise commercial MBS — 575,294 575,294 Private label residential MBS and CMOs — 2,636,906 2,636,906 Private label commercial MBS — 2,684,630 2,684,630 Single family real estate-backed securities — 491,478 491,478 Collateralized loan obligations — 1,023,704 1,023,704 Non-mortgage asset-backed securities — 107,761 107,761 State and municipal obligations — 149,706 149,706 SBA securities — 159,493 159,493 Marketable equity securities 90,857 — 90,857 Derivative assets — 43,703 43,703 Total assets at fair value $ 189,985 $ 9,947,222 $ 10,137,207 Derivative liabilities $ — $ (74,187) $ (74,187) Total liabilities at fair value $ — $ (74,187) $ (74,187) December 31, 2021 Level 1 Level 2 Total Investment securities available for sale: U.S. Treasury securities $ 111,660 $ — $ 111,660 U.S. Government agency and sponsored enterprise residential MBS — 2,097,796 2,097,796 U.S. Government agency and sponsored enterprise commercial MBS — 856,899 856,899 Private label residential MBS and CMOs — 2,149,420 2,149,420 Private label commercial MBS — 2,604,010 2,604,010 Single family real estate-backed securities — 476,968 476,968 Collateralized loan obligations — 1,078,286 1,078,286 Non-mortgage asset-backed securities — 152,510 152,510 State and municipal obligations — 222,277 222,277 SBA securities — 183,595 183,595 Marketable equity securities 120,777 — 120,777 Servicing rights — 5,152 5,152 Derivative assets — 59,019 59,019 Total assets at fair value $ 232,437 $ 9,885,932 $ 10,118,369 Derivative liabilities $ — $ (25,314) $ (25,314) Total liabilities at fair value $ — $ (25,314) $ (25,314) |
Schedule of Assets for Which Nonrecurring Changes in Fair Value have been Recorded | The following table presents the net carrying value of assets classified within level 3 of the fair value hierarchy at the dates indicated, for which non-recurring changes in fair value were recorded during the period then ended (in thousands): June 30, 2022 December 31, 2021 Collateral dependent loans $ 41,030 $ 70,433 OREO 778 2,788 Operating lease equipment — 11,429 $ 41,808 $ 84,650 |
Schedule of the Carrying Value and Fair Value of Financial Instruments | The following table presents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands): June 30, 2022 December 31, 2021 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 513,773 $ 513,773 $ 314,857 $ 314,857 Investment securities 1/2 $ 10,103,504 $ 10,103,600 $ 10,064,198 $ 10,064,887 Non-marketable equity securities 2 $ 213,409 $ 213,409 $ 135,859 $ 135,859 Loans, net 3 $ 23,969,775 $ 23,290,146 $ 23,638,596 $ 24,088,190 Derivative assets 2 $ 43,703 $ 43,703 $ 59,019 $ 59,019 Liabilities: Demand, savings and money market deposits 2 $ 25,736,318 $ 25,736,318 $ 26,053,859 $ 26,053,859 Time deposits 2 $ 2,724,581 $ 2,707,046 $ 3,384,243 $ 3,388,435 Federal funds purchased 2 $ — $ — $ 199,000 $ 199,000 FHLB advances 2 $ 4,005,000 $ 4,004,974 $ 1,905,000 $ 1,905,629 Notes and other borrowings 2 $ 721,166 $ 720,089 $ 721,416 $ 813,095 Derivative liabilities 2 $ 74,187 $ 74,187 $ 25,314 $ 25,314 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of the Total Lending Related Commitments Outstanding | Total lending related commitments outstanding at June 30, 2022 were as follows (in thousands): Commitments to fund loans $ 792,730 Unfunded commitments under lines of credit 4,534,085 Commercial and standby letters of credit 108,036 $ 5,434,851 |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) | Jun. 30, 2022 banking_center county |
FLORIDA | |
Segment Reporting Information [Line Items] | |
Number of Banking Centers | 60 |
Number of Operating Counties In Florida | county | 12 |
New York | |
Segment Reporting Information [Line Items] | |
Number of Banking Centers | 4 |
TEXAS | |
Segment Reporting Information [Line Items] | |
Number of Banking Centers | 1 |
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 | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Numerator: | ||||
Net income | $ 65,764 | $ 103,974 | $ 132,914 | $ 202,788 |
Distributed and undistributed earnings allocated to participating securities | (999) | (1,338) | (1,927) | (2,589) |
Income allocated to common stockholders for basic earnings per common share | $ 64,765 | $ 102,636 | $ 130,987 | $ 200,199 |
Denominator: | ||||
Weighted average common shares outstanding | 80,300,069 | 93,245,282 | 82,629,098 | 93,160,962 |
Less average unvested stock awards | (1,257,258) | (1,241,381) | (1,234,678) | (1,223,555) |
Weighted Average Number of Shares Outstanding, Basic, Total | 79,042,811 | 92,003,901 | 81,394,420 | 91,937,407 |
Basic earnings per common share | $ 0.82 | $ 1.12 | $ 1.61 | $ 2.18 |
Numerator: | ||||
Income allocated to common stockholders for basic earnings per common share | $ 64,765 | $ 102,636 | $ 130,987 | $ 200,199 |
Adjustment for earnings reallocated from participating securities | 3 | 2 | 4 | 3 |
Income used in calculating diluted earnings per common share | $ 64,768 | $ 102,638 | $ 130,991 | $ 200,202 |
Denominator: | ||||
Weighted Average Number of Shares Outstanding, Basic, Total | 79,042,811 | 92,003,901 | 81,394,420 | 91,937,407 |
Dilutive effect of certain share-based awards | 350,734 | 181,061 | 244,808 | 137,542 |
Weighted average shares for diluted earnings per common share | 79,393,545 | 92,184,962 | 81,639,228 | 92,074,949 |
Diluted earnings per common share | $ 0.82 | $ 1.11 | $ 1.60 | $ 2.17 |
Earnings Per Common Share Earni
Earnings Per Common Share Earnings per Common Share (Narrative) (Details) - shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Earnings Per Share [Abstract] | ||
Potentially dilutive securities outstanding (in Shares) | 1,245,299 | 1,212,062 |
Investment Securities (Schedule
Investment Securities (Schedule of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | $ 10,479,322 | $ 9,929,586 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3,987 | 55,446 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 480,662 | 51,611 |
Debt Securities, Available-for-sale | 10,002,647 | |
Debt Securities, Available-for-Sale and Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 10,489,322 | 9,939,586 |
Debt Securities, Available-for-sale and Held-to-maturity | 10,012,647 | 9,943,421 |
Investment securities (including securities recorded at fair value of $10,093,504 and $10,054,198) | 10,103,504 | 10,064,198 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 109,422 | 114,385 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 173 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 10,294 | 2,898 |
Debt Securities, Available-for-sale | 99,128 | 111,660 |
U.S. Government agency and sponsored enterprise residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 2,107,130 | 2,093,283 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,527 | 12,934 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 34,110 | 8,421 |
Debt Securities, Available-for-sale | 2,074,547 | 2,097,796 |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 628,430 | 861,925 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 141 | 5,287 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 53,277 | 10,313 |
Debt Securities, Available-for-sale | 575,294 | 856,899 |
Private label residential MBS and CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 2,870,519 | 2,160,136 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 107 | 3,575 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 233,720 | 14,291 |
Debt Securities, Available-for-sale | 2,636,906 | 2,149,420 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 2,779,138 | 2,604,690 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 202 | 7,843 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 94,710 | 8,523 |
Debt Securities, Available-for-sale | 2,684,630 | 2,604,010 |
Single family real estate-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 509,971 | 474,845 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 176 | 5,031 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 18,669 | 2,908 |
Debt Securities, Available-for-sale | 491,478 | 476,968 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 1,047,036 | 1,079,217 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 598 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 23,332 | 1,529 |
Debt Securities, Available-for-sale | 1,023,704 | 1,078,286 |
Non-mortgage asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 111,961 | 151,091 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 4 | 1,419 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 4,204 | 0 |
Debt Securities, Available-for-sale | 107,761 | 152,510 |
State and municipal obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 154,729 | 205,718 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 508 | 16,559 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 5,531 | 0 |
Debt Securities, Available-for-sale | 149,706 | 222,277 |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 160,986 | 184,296 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,322 | 2,027 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2,815 | 2,728 |
Debt Securities, Available-for-sale | 159,493 | 183,595 |
Investment securities held to maturity | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale | 9,933,421 | |
Investment securities held to maturity | 10,000 | 10,000 |
Marketable equity securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Equity Securities, FV-NI | $ 90,857 | $ 120,777 |
Investment Securities (Schedu_2
Investment Securities (Schedule of Maturities of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 1,547,866 | |
Due after one year through five years, Amortized Cost | 6,167,133 | |
Due after five years through ten years, Amortized Cost | 1,949,056 | |
Due after ten years, Amortized Cost | 815,267 | |
Amortized Cost | 10,479,322 | $ 9,929,586 |
Due in one year or less, Fair Value | 1,488,239 | |
Due after one year through five years, Fair Value | 5,953,142 | |
Due after five years through ten years, Fair Value | 1,814,202 | |
Due after ten years, Fair Value | 747,064 | |
Fair Value | $ 10,002,647 |
Investment Securities (Schedu_3
Investment Securities (Schedule of Gains and Losses on the Sale and Exchange of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds from sale of investment securities | $ 228,462 | $ 389,814 | $ 710,769 | $ 800,056 |
Gross realized gains on investment securities AFS | 956 | 2,870 | 3,706 | 6,862 |
Gross realized losses on investment securities AFS | 51 | 29 | 128 | 54 |
Net realized gain | 905 | 2,841 | 3,578 | 6,808 |
Net unrealized gains (losses) on marketable equity securities recognized in earnings | (9,297) | 1,314 | (19,838) | (288) |
Gain (loss) on investment securities, net | $ (8,392) | $ 4,155 | $ (16,260) | $ 6,520 |
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 | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 7,862,633 | $ 4,098,232 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 394,088 | 32,595 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,300,840 | 1,225,140 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 86,574 | 19,016 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 9,163,473 | 5,323,372 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 480,662 | 51,611 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 57,284 | 49,328 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,696 | 591 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 41,844 | 47,102 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 7,598 | 2,307 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 99,128 | 96,430 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 10,294 | 2,898 |
U.S. Government agency and sponsored enterprise residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,244,332 | 436,744 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 19,221 | 4,549 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 456,536 | 401,022 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 14,889 | 3,872 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,700,868 | 837,766 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 34,110 | 8,421 |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 457,209 | 247,323 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 34,781 | 4,084 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 95,530 | 163,380 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 18,496 | 6,229 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 552,739 | 410,703 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 53,277 | 10,313 |
Private label residential MBS and CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,539,475 | 1,552,946 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 223,743 | 13,933 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 62,366 | 23,355 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 9,977 | 358 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,601,841 | 1,576,301 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 233,720 | 14,291 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,270,765 | 1,338,288 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 71,414 | 6,085 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 291,828 | 171,490 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 23,296 | 2,438 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,562,593 | 1,509,778 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 94,710 | 8,523 |
Single family real estate-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 380,879 | 154,552 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 14,076 | 2,908 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 52,737 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 4,593 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 433,616 | 154,552 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 18,669 | 2,908 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 707,837 | 318,555 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 18,421 | 445 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 213,367 | 319,192 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 4,911 | 1,084 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 921,204 | 637,747 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 23,332 | 1,529 |
Non-mortgage asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 105,767 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 4,204 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 105,767 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 4,204 | |
State and municipal obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 99,041 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 5,531 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 99,041 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 5,531 | |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 44 | 496 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 86,632 | 99,599 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2,814 | 2,728 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 86,676 | 100,095 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 2,815 | $ 2,728 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 USD ($) rental security bond | Dec. 31, 2021 USD ($) bond | |
Debt Securities, Available-for-sale [Line Items] | ||
Number of held-to-maturity securities | bond | 1 | 1 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security | 540 | |
Number of securities which impairment considered insignificant (in Securities) | security | 121 | |
Available-for-sale securities, gross unrealized loss, considered insignificant | $ | $ 1.1 | |
Available-for-sale Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | $ | 21 | $ 16 |
Securities pledged as collateral | $ | $ 4,000 | |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 5 | |
U.S. Government agency and sponsored enterprise residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 102 | |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 28 | |
Private label residential MBS and CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 109 | |
Percentage of weighted average collateral loss | 2% | |
Percentage of weighted average credit support | 17% | |
Percentage of securities rated AAA | 95% | |
Percentage of securities rated AA | 1% | |
Percentage of securities rated A | 4% | |
Private label commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 110 | |
Percentage of weighted average collateral loss | 6% | |
Percentage of weighted average credit support | 43% | |
Percentage of securities rated AAA | 86% | |
Percentage of securities rated AA | 10% | |
Percentage of securities rated A | 4% | |
Single family real estate-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 16 | |
Percentage of weighted average collateral loss | 7% | |
Percentage of weighted average credit support | 49% | |
Percentage of securities rated AAA | 61% | |
Percentage of securities rated AA | 17% | |
Number of Securities | 1 | |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 23 | |
Percentage of weighted average collateral loss | 7% | |
Percentage of weighted average credit support | 42% | |
Percentage of securities rated AAA | 79% | |
Percentage of securities rated AA | 17% | |
Percentage of securities rated A | 4% | |
Non-mortgage asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 7 | |
Percentage of weighted average collateral loss | 3% | |
Percentage of weighted average credit support | 23% | |
Percentage of securities rated AAA | 53% | |
Percentage of securities rated AA | 47% | |
State and municipal obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 8 | |
Percentage of securities rated AAA | 62% | |
Percentage of securities rated AA | 38% | |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 11 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing Receivable, Deferred Income | $ 67,000,000 | $ 67,000,000 | $ 67,000,000 | |||||
Financing Receivable, before Allowance for Credit Loss and Fee | 24,100,014,000 | 24,100,014,000 | 23,765,053,000 | |||||
Allowance for credit losses | (130,239,000) | $ (175,642,000) | (130,239,000) | $ (175,642,000) | (126,457,000) | $ (125,443,000) | $ (220,934,000) | $ (257,323,000) |
Sales-type and Direct Financing Leases, Lease Receivable | 704,000,000 | 704,000,000 | 652,000,000 | |||||
Direct Financing Lease, Lease Income | 4,400,000 | 4,500,000 | 9,000,000 | 9,900,000 | ||||
Purchases of loans | 1,575,715,000 | 2,271,081,000 | ||||||
Interest Receivable | 105,000,000 | 105,000,000 | 98,000,000 | |||||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 606,000,000 | 606,000,000 | 730,000,000 | |||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 2,300,000 | 3,400,000 | 3,500,000 | 5,900,000 | ||||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable, For Federal Home Loan Bank Debt | 11,100,000,000 | 11,100,000,000 | 10,600,000,000 | |||||
Small business finance | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 32,300,000 | 32,300,000 | 31,300,000 | |||||
Financing Receivable, Nonaccrual | 43,400,000 | 43,400,000 | 46,100,000 | |||||
Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss and Fee | 57,132,000 | 57,132,000 | 65,204,000 | |||||
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | 50,589,000 | 59,759,000 | ||||||
Allowance for credit losses | (542,000) | (542,000) | (476,000) | |||||
UPB, Total | 107,721,000 | 107,721,000 | 124,963,000 | |||||
Financing Receivable, after Allowance for Credit Loss | 56,590,000 | 56,590,000 | 64,728,000 | |||||
1-4 single family residential | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss and Fee | 6,907,681,000 | 6,907,681,000 | 6,338,225,000 | |||||
Purchases of loans | 714,000,000 | $ 1,300,000,000 | 1,600,000,000 | $ 2,300,000,000 | ||||
Residential Portfolio Segment [Member] | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Mortgage Loans in Process of Foreclosure, Amount | 309,000,000 | 309,000,000 | 208,000,000 | |||||
US Government Agency Insured Loans | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,928,779,000 | 1,928,779,000 | 2,023,221,000 | |||||
Mortgage Loans in Process of Foreclosure, Amount | 302,000,000 | 302,000,000 | 202,000,000 | |||||
Commercial Portfolio Segment [Member] | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss and Fee | 15,259,627,000 | 15,259,627,000 | $ 15,396,673,000 | |||||
Commercial Portfolio Segment [Member] | Minimum | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing receivable credit quality indicator, the value at which relationships are reevaluated at least annually | 1,000,000 | 1,000,000 | ||||||
Commercial Portfolio Segment [Member] | Maximum [Member] | ||||||||
Financing Receivable Investment Past Due [Line Items] | ||||||||
Financing receivable credit quality indicator, the value at which relationships are reevaluated at least annually | $ 3,000,000 | $ 3,000,000 |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses (Schedule of Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 24,100,014 | $ 23,765,053 |
Percent of total loans (in Percent) | 100% | 100% |
Loans and Leases Receivable, Allowance | $ (130,239) | $ (126,457) |
Loans and Leases Receivable, Net Amount, Total | 23,969,775 | 23,638,596 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 15,259,627 | $ 15,396,673 |
Percent of total loans (in Percent) | 63.30% | 64.80% |
1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 6,907,681 | $ 6,338,225 |
Percent of total loans (in Percent) | 28.70% | 26.70% |
Government Insured Residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 1,928,779 | $ 2,023,221 |
Percent of total loans (in Percent) | 8% | 8.50% |
Consumer loan and home equity line of credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 3,927 | $ 6,934 |
Percent of total loans (in Percent) | 0% | 0% |
Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 1,017,500 | $ 1,154,738 |
Percent of total loans (in Percent) | 4.20% | 4.90% |
Commercial real estate, Non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 4,276,697 | $ 4,381,610 |
Percent of total loans (in Percent) | 17.70% | 18.40% |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 213,833 | $ 165,390 |
Percent of total loans (in Percent) | 0.90% | 0.70% |
Commercial real estate, Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 1,907,349 | $ 1,944,658 |
Percent of total loans (in Percent) | 7.90% | 8.20% |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 5,423,998 | $ 4,790,275 |
Percent of total loans (in Percent) | 22.50% | 20.20% |
Payment Protection Plan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 29,828 | $ 248,505 |
Percent of total loans (in Percent) | 0.10% | 1% |
Pinnacle Public Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 977,930 | $ 919,641 |
Percent of total loans (in Percent) | 4.10% | 3.90% |
Bridge - franchise finance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 262,570 | $ 342,124 |
Percent of total loans (in Percent) | 1.10% | 1.40% |
Bridge - equipment finance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 333,125 | $ 357,599 |
Percent of total loans (in Percent) | 1.40% | 1.50% |
Mortgage warehouse lending [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 816,797 | $ 1,092,133 |
Percent of total loans (in Percent) | 3.40% | 4.60% |
Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 8,840,387 | $ 8,368,380 |
Percent of total loans (in Percent) | 36.70% | 35.20% |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses (ALLL Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning of period | $ 125,443 | $ 220,934 | $ 126,457 | $ 257,323 |
Provision for (recovery of) credit losses | 23,996 | (27,534) | 31,826 | (55,523) |
Charge-offs | (20,979) | (18,402) | (31,650) | (30,394) |
Recoveries | 2,568 | 773 | 4,779 | 2,682 |
Allowance for loan and lease losses, end of period | 130,239 | 175,642 | 130,239 | 175,642 |
Residential Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning of period | 8,957 | 15,844 | 9,187 | 18,719 |
Charge-offs | (412) | 0 | (412) | (14) |
Recoveries | 17 | 3 | 43 | 6 |
Allowance for loan and lease losses, end of period | 9,010 | 11,909 | 9,010 | 11,909 |
Commercial Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning of period | 116,486 | 205,090 | 117,270 | 238,604 |
Charge-offs | (20,567) | (18,402) | (31,238) | (30,380) |
Recoveries | 2,551 | 770 | 4,736 | 2,676 |
Allowance for loan and lease losses, end of period | 121,229 | 163,733 | 121,229 | 163,733 |
Funded Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Provision for (recovery of) credit losses | 23,207 | (27,663) | 30,653 | (53,969) |
Funded Loans [Member] | Residential Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Provision for (recovery of) credit losses | 448 | 3,938 | 192 | 6,802 |
Funded Loans [Member] | Commercial Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Provision for (recovery of) credit losses | $ 22,759 | $ 23,725 | $ 30,461 | $ 47,167 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses Loans and Allowance for Credit Losses (Balance of ALLL and Related Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Provision for (recovery of) credit losses | $ 23,996 | $ (27,534) | $ 31,826 | $ (55,523) |
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 916 | 129 | 1,300 | (919) |
Provision for Other Credit Losses | (127) | 0 | (127) | (635) |
Funded Loans [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Provision for (recovery of) credit losses | 23,207 | (27,663) | 30,653 | (53,969) |
Accrued Interest Receivable | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Provision for (recovery of) credit losses | $ (127) | $ 0 | $ (127) | $ (635) |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses (Schedule of Credit Exposure for Loans Based on Original LTV and FICO Score) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | $ 24,100,014 | $ 23,765,053 |
1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 671,783 | 2,919,080 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,276,289 | 1,065,053 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 961,744 | 403,294 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 342,436 | 233,205 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 193,370 | 349,309 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,462,059 | 1,368,284 |
Financing Receivable, before Allowance for Credit Loss and Fee | 6,907,681 | 6,338,225 |
FICO, 760 or greater | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 441,901 | 2,230,259 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,442,807 | 803,026 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 776,830 | 245,942 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 219,807 | 125,713 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 112,937 | 254,750 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,018,235 | 937,285 |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,012,517 | 4,596,975 |
FICO, 720 to 759 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 171,852 | 562,763 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 632,539 | 194,068 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 121,052 | 91,276 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 64,889 | 53,576 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 36,713 | 54,080 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 239,878 | 219,561 |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,266,923 | 1,175,324 |
FICO, 719 or less | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 58,030 | 126,058 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 200,943 | 67,959 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 63,862 | 66,076 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 57,740 | 53,916 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 43,720 | 40,479 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 203,946 | 211,438 |
Financing Receivable, before Allowance for Credit Loss and Fee | 628,241 | 565,926 |
Less than 61% [Member] | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 195,295 | 1,222,510 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,348,565 | 399,512 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 368,526 | 89,078 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 82,499 | 54,301 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 45,328 | 111,540 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 514,035 | 476,170 |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,554,248 | 2,353,111 |
61% - 70% [Member] | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 165,534 | 791,935 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 884,488 | 269,739 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 241,816 | 92,282 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 83,770 | 59,425 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 50,998 | 66,641 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 350,051 | 343,654 |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,776,657 | 1,623,676 |
71% - 80% [Member] | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 308,253 | 899,400 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,007,062 | 395,726 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 351,327 | 212,649 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 170,620 | 111,276 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 92,557 | 145,413 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 552,791 | 518,817 |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,482,610 | 2,283,281 |
More than 81% [Member] | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,701 | 5,235 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 36,174 | 76 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 75 | 9,285 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,547 | 8,203 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,487 | 25,715 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 45,182 | 29,643 |
Financing Receivable, before Allowance for Credit Loss and Fee | 94,166 | 78,157 |
Current | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 664,630 | 2,884,761 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,255,371 | 1,062,348 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 954,681 | 395,453 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 339,083 | 224,175 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 190,213 | 342,414 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,448,027 | 1,352,844 |
Financing Receivable, before Allowance for Credit Loss and Fee | 6,852,005 | 6,261,995 |
30 - 59 Days Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 188,794 | 208,894 |
30 - 59 Days Past Due | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 7,153 | 32,307 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 19,527 | 2,705 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,812 | 5,482 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,329 | 1,942 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 72 | 5,831 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,498 | 4,825 |
Financing Receivable, before Allowance for Credit Loss and Fee | 39,391 | 53,092 |
60 - 89 Days Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 115,623 | 155,449 |
60 - 89 Days Past Due | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 605 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,177 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,949 | 1,750 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,024 | 1,988 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 87 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 502 | 1,307 |
Financing Receivable, before Allowance for Credit Loss and Fee | 4,739 | 5,650 |
90 Days or More Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 669,956 | 798,475 |
90 Days or More Past Due | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 1,407 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 214 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 302 | 609 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 5,100 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,998 | 1,064 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8,032 | 9,308 |
Financing Receivable, before Allowance for Credit Loss and Fee | $ 11,546 | $ 17,488 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses (Schedule of Commercial Credit Exposure Based on Internal Risk Ratings) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | $ 24,100,014 | $ 23,765,053 |
Multi-family | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,017,500 | 1,154,738 |
Multi-family | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 818,882 | 970,337 |
Multi-family | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Multi-family | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 188,032 | 173,536 |
Multi-family | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 10,586 | 10,865 |
Multi-family | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,276,697 | 4,381,610 |
Commercial real estate, Non-owner occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,063,154 | 3,892,353 |
Commercial real estate, Non-owner occupied | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,045 | 26,088 |
Commercial real estate, Non-owner occupied | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 194,477 | 423,918 |
Commercial real estate, Non-owner occupied | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 17,021 | 39,251 |
Commercial real estate, Non-owner occupied | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Construction and land | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 213,833 | 165,390 |
Construction and land | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 196,867 | 147,470 |
Construction and land | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,789 | 6,174 |
Construction and land | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 9,519 | 6,582 |
Construction and land | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 5,658 | 5,164 |
Construction and land | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,907,349 | 1,944,658 |
Commercial real estate, Owner occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,765,372 | 1,750,035 |
Commercial real estate, Owner occupied | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 9,065 | 14,010 |
Commercial real estate, Owner occupied | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 111,082 | 160,159 |
Commercial real estate, Owner occupied | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 21,830 | 20,454 |
Commercial real estate, Owner occupied | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 5,423,998 | 4,790,275 |
Commercial and industrial | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 5,084,489 | 4,368,590 |
Commercial and industrial | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 76,254 | 102,321 |
Commercial and industrial | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 207,272 | 250,644 |
Commercial and industrial | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 54,869 | 40,958 |
Commercial and industrial | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,114 | 27,762 |
Payment Protection Plan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 29,828 | 248,505 |
Payment Protection Plan [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 29,828 | 248,505 |
Payment Protection Plan [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Payment Protection Plan [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Payment Protection Plan [Member] | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Payment Protection Plan [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 125,811 | 143,063 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 137,899 | 113,785 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 96,853 | 88,206 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 76,038 | 36,761 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 33,427 | 177,258 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 507,902 | 360,568 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 977,930 | 919,641 |
Pinnacle Public Finance [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 125,811 | 143,063 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 137,899 | 113,785 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 96,853 | 88,206 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 76,038 | 36,761 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 33,427 | 177,258 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 507,902 | 360,568 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 977,930 | 919,641 |
Pinnacle Public Finance [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Pinnacle Public Finance [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Pinnacle Public Finance [Member] | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Pinnacle Public Finance [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Bridge - franchise finance | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 15,549 | 49,949 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 36,887 | 58,408 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 46,666 | 151,605 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 108,557 | 52,607 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 34,459 | 15,699 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 20,452 | 13,856 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 262,570 | 342,124 |
Bridge - franchise finance | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 15,549 | 49,949 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 34,963 | 51,057 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 44,320 | 104,299 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 79,457 | 10,199 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,192 | 7,039 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,045 | 5,838 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 194,526 | 228,381 |
Bridge - franchise finance | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Bridge - franchise finance | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,924 | 7,351 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,346 | 39,588 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 26,449 | 30,134 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,061 | 8,660 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,407 | 8,018 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 61,187 | 93,751 |
Bridge - franchise finance | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 53,633 | 80,864 |
Bridge - franchise finance | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 7,554 | 12,887 |
Bridge - franchise finance | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 7,718 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,651 | 12,274 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,206 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 6,857 | 19,992 |
Bridge - equipment finance | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 25,216 | 73,190 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 66,235 | 18,763 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 17,575 | 121,865 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 105,579 | 48,601 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 40,804 | 46,709 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 77,716 | 48,471 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 333,125 | 357,599 |
Bridge - equipment finance | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 25,216 | 73,190 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 66,235 | 18,763 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 17,575 | 108,990 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 103,826 | 43,826 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 40,804 | 23,684 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 56,085 | 48,471 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 309,741 | 316,924 |
Bridge - equipment finance | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Bridge - equipment finance | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 12,875 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,753 | 4,775 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 23,025 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 21,631 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 23,384 | 40,675 |
Bridge - equipment finance | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 23,384 | 40,675 |
Bridge - equipment finance | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Bridge - equipment finance | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Mortgage warehouse lending [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 816,797 | 1,092,133 |
Financing Receivable, before Allowance for Credit Loss and Fee | 816,797 | 1,092,133 |
Mortgage warehouse lending [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 816,797 | 1,092,133 |
Financing Receivable, before Allowance for Credit Loss and Fee | 816,797 | 1,092,133 |
Mortgage warehouse lending [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Mortgage warehouse lending [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Mortgage warehouse lending [Member] | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Mortgage warehouse lending [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 15,259,627 | 15,396,673 |
Commercial Portfolio Segment [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 14,257,586 | 13,934,369 |
Commercial Portfolio Segment [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 89,153 | 148,593 |
Commercial Portfolio Segment [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 787,399 | 1,136,378 |
Commercial Portfolio Segment [Member] | Substandard Non-Accruing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 117,518 | 129,579 |
Commercial Portfolio Segment [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 7,971 | 47,754 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 577,219 | 870,837 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 878,306 | 633,283 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 591,222 | 1,500,258 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,323,977 | 732,095 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 612,375 | 571,909 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,431,244 | 1,274,048 |
Financing Receivable, Revolving | 93,687 | 119,308 |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,508,030 | 5,701,738 |
Commercial Real Estate Portfolio Segment [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 564,674 | 869,852 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 876,951 | 619,056 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 565,942 | 1,283,401 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,209,406 | 676,151 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 553,614 | 455,965 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,214,629 | 986,427 |
Financing Receivable, Revolving | 93,687 | 119,308 |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,078,903 | 5,010,160 |
Commercial Real Estate Portfolio Segment [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 985 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 29,573 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,789 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,045 | 1,704 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 3,834 | 32,262 |
Commercial Real Estate Portfolio Segment [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 12,545 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,355 | 14,227 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 25,280 | 187,284 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 112,782 | 55,944 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 58,761 | 115,944 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 214,570 | 285,917 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss and Fee | 425,293 | 659,316 |
Commercial and industrial Portfolio Segment | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 922,226 | 1,286,576 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 900,410 | 708,404 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 561,118 | 1,078,840 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 874,820 | 482,679 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 480,429 | 406,561 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,082,729 | 803,611 |
Financing Receivable, Revolving | 2,539,443 | 2,216,767 |
Financing Receivable, before Allowance for Credit Loss and Fee | 7,361,175 | 6,983,438 |
Commercial and industrial Portfolio Segment | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 920,906 | 1,280,160 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 867,112 | 666,437 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 530,609 | 870,797 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 715,269 | 406,145 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 416,247 | 353,590 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 953,082 | 669,308 |
Financing Receivable, Revolving | 2,476,464 | 2,120,693 |
Financing Receivable, before Allowance for Credit Loss and Fee | 6,879,689 | 6,367,130 |
Commercial and industrial Portfolio Segment | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 21 | 6,051 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 21,952 | 19,861 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 842 | 39,647 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 35,878 | 17,185 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 15,569 | 1,854 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,016 | 11,640 |
Financing Receivable, Revolving | 6,041 | 20,093 |
Financing Receivable, before Allowance for Credit Loss and Fee | 85,319 | 116,331 |
Commercial and industrial Portfolio Segment | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,299 | 365 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,346 | 22,106 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 29,667 | 167,496 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 123,673 | 59,349 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 48,613 | 51,117 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 124,631 | 122,663 |
Financing Receivable, Revolving | 55,824 | 49,119 |
Financing Receivable, before Allowance for Credit Loss and Fee | 395,053 | 472,215 |
Commercial and industrial Portfolio Segment | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 900 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 1,114 | 26,862 |
Financing Receivable, before Allowance for Credit Loss and Fee | $ 1,114 | $ 27,762 |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses (Schedule of Financing Receivables Past Due) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | $ 24,100,014 | $ 23,765,053 |
1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 6,907,681 | 6,338,225 |
US Government Agency Insured Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,928,779 | 2,023,221 |
Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 3,927 | 6,934 |
Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,017,500 | 1,154,738 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,276,697 | 4,381,610 |
Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 213,833 | 165,390 |
Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,907,349 | 1,944,658 |
Commercial and industrial | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 5,423,998 | 4,790,275 |
Payment Protection Plan [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 29,828 | 248,505 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 977,930 | 919,641 |
Bridge - franchise finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 262,570 | 342,124 |
Bridge - equipment finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 333,125 | 357,599 |
Mortgage warehouse lending [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 816,797 | 1,092,133 |
30 - 59 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 188,794 | 208,894 |
30 - 59 Days Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 39,391 | 53,092 |
30 - 59 Days Past Due | US Government Agency Insured Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 139,631 | 143,672 |
30 - 59 Days Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 15 |
30 - 59 Days Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 6,017 |
30 - 59 Days Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,216 | 2,727 |
30 - 59 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 492 |
30 - 59 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 266 | 0 |
30 - 59 Days Past Due | Commercial and industrial | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,282 | 2,114 |
30 - 59 Days Past Due | Payment Protection Plan [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 6,008 | 765 |
30 - 59 Days Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
30 - 59 Days Past Due | Bridge - franchise finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
30 - 59 Days Past Due | Bridge - equipment finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
30 - 59 Days Past Due | Mortgage warehouse lending [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
60 - 89 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 115,623 | 155,449 |
60 - 89 Days Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,739 | 5,650 |
60 - 89 Days Past Due | US Government Agency Insured Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 86,849 | 115,028 |
60 - 89 Days Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
60 - 89 Days Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 11,220 |
60 - 89 Days Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,680 | 29 |
60 - 89 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,209 | 4,369 |
60 - 89 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,705 | 1,402 |
60 - 89 Days Past Due | Commercial and industrial | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 11,637 | 11,016 |
60 - 89 Days Past Due | Payment Protection Plan [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,504 | 0 |
60 - 89 Days Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
60 - 89 Days Past Due | Bridge - franchise finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,300 | 6,735 |
60 - 89 Days Past Due | Bridge - equipment finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
60 - 89 Days Past Due | Mortgage warehouse lending [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
90 Days or More Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 669,956 | 798,475 |
90 Days or More Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 11,546 | 17,488 |
90 Days or More Past Due | US Government Agency Insured Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 604,818 | 729,835 |
90 Days or More Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
90 Days or More Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,138 | 2,138 |
90 Days or More Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 8,769 | 19,183 |
90 Days or More Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,012 | 346 |
90 Days or More Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 13,051 | 12,324 |
90 Days or More Past Due | Commercial and industrial | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 18,924 | 13,169 |
90 Days or More Past Due | Payment Protection Plan [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
90 Days or More Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
90 Days or More Past Due | Bridge - franchise finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 9,698 | 3,992 |
90 Days or More Past Due | Bridge - equipment finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
90 Days or More Past Due | Mortgage warehouse lending [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 |
Current | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 23,125,641 | 22,602,235 |
Current | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 6,852,005 | 6,261,995 |
Current | US Government Agency Insured Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,097,481 | 1,034,686 |
Current | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 3,927 | 6,919 |
Current | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,015,362 | 1,135,363 |
Current | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,263,032 | 4,359,671 |
Current | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 208,612 | 160,183 |
Current | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,892,327 | 1,930,932 |
Current | Commercial and industrial | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 5,392,155 | 4,763,976 |
Current | Payment Protection Plan [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 21,316 | 247,740 |
Current | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 977,930 | 919,641 |
Current | Bridge - franchise finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 251,572 | 331,397 |
Current | Bridge - equipment finance | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | 333,125 | 357,599 |
Current | Mortgage warehouse lending [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss and Fee | $ 816,797 | $ 1,092,133 |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses (Finance Receivable, Nonaccrual) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 143,998 | $ 143,998 | $ 205,885 | ||
Recorded Investment, With no specific allowance recorded | 47,371 | 47,371 | 69,195 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 2,300 | $ 3,400 | 3,500 | $ 5,900 | |
Residential Portfolio Segment [Member] | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 18,510 | 18,510 | 28,553 | ||
Recorded Investment, With no specific allowance recorded | 0 | 0 | 1,684 | ||
Multi-family | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 10,586 | 10,586 | 10,865 | ||
Recorded Investment, With no specific allowance recorded | 10,586 | 10,586 | 10,865 | ||
Commercial real estate, Non-owner occupied | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 17,021 | 17,021 | 39,251 | ||
Recorded Investment, With no specific allowance recorded | 2,257 | 2,257 | 20,929 | ||
Construction and land | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 5,658 | 5,658 | 5,164 | ||
Recorded Investment, With no specific allowance recorded | 4,209 | 4,209 | 4,369 | ||
Commercial real estate, Owner occupied | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 21,830 | 21,830 | 20,453 | ||
Recorded Investment, With no specific allowance recorded | 8,789 | 8,789 | 4,457 | ||
Commercial and industrial | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 55,983 | 55,983 | 68,720 | ||
Recorded Investment, With no specific allowance recorded | 12,605 | 12,605 | 10,083 | ||
Bridge - franchise finance | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 14,410 | 14,410 | 32,879 | ||
Recorded Investment, With no specific allowance recorded | $ 8,925 | $ 8,925 | $ 16,808 |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses (Schedule of Collateral Dependent Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 99,027 | $ 133,166 |
Secured Debt | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 93,867 | 117,276 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 741 | 2,317 |
Residential Portfolio Segment [Member] | Residential Real Estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 741 | 2,295 |
Multi-family | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,586 | 10,865 |
Multi-family | Commercial Real Estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,586 | 10,865 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 21,422 | 29,001 |
Commercial real estate, Non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 20,718 | 28,486 |
Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,555 | 4,715 |
Construction and land | Commercial Real Estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,555 | 4,715 |
Commercial real estate, Owner occupied | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 17,851 | 15,198 |
Commercial real estate, Owner occupied | Commercial Real Estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 17,699 | 15,155 |
Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 32,303 | 45,015 |
Commercial and industrial | Commercial Real Estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 29,375 | 37,020 |
Bridge - franchise finance | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 11,569 | 26,055 |
Bridge - franchise finance | Equipment | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,193 | 18,740 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 98,286 | 130,849 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 93,126 | $ 114,981 |
Loans and Allowance for Cred_12
Loans and Allowance for Credit Losses Loans and Allowance for Credit Losses (Schedule of Troubled Debt Restructurings) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 1,384 | 117 | 1,779 | 144 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 239,006 | $ 24,611 | $ 317,942 | $ 30,088 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 381 | 54 | 412 | 63 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 61,638 | $ 9,878 | $ 67,094 | $ 10,997 |
1-4 single family residential | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 5 | 0 | 9 | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 3,337 | $ 0 | $ 5,314 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 | $ 0 | $ 0 |
US Government Agency Insured Loans | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 1,373 | 116 | 1,756 | 143 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 215,245 | $ 21,758 | $ 277,146 | $ 27,235 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 380 | 54 | 411 | 63 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 60,577 | $ 9,878 | $ 66,033 | $ 10,997 |
Commercial real estate, Non-owner occupied | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 0 | 1 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 2,853 | $ 0 | $ 2,853 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial and industrial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 6 | 0 | 14 | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 20,424 | $ 0 | $ 35,482 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | 0 | 1 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 1,061 | $ 0 | $ 1,061 | $ 0 |
Loans and Allowance for Cred_13
Loans and Allowance for Credit Losses Loans and Allowance for Credit Losses (Schedule of Loan Concentrations by States) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 24,100,014 | $ 23,765,053 |
1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 6,907,681 | $ 6,338,225 |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Tax Examination [Line Items] | ||||
Effective Income Tax Rate Reconciliation, Percent | 24.80% | 25.80% | 24.60% | 25.30% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities (Interest Rate Contract Derivative Financial Instruments and Related Hedged Items) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Derivatives Fair Value [Line Items] | ||
Notional amount of interest rate derivatives | $ 5,631,436 | $ 4,692,034 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 43,703 | 59,019 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 74,187 | $ 25,314 |
Designated as Hedging Instrument | Interest Rate Swap | Fair Value Hedging | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 1.94% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 2 years 1 month 6 days | |
Notional amount of interest rate derivatives | $ 100,000 | |
Designated as Hedging Instrument | Interest Rate Swap | London Interbank Offered Rate (LIBOR) | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 2.38% | 2.35% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 2 years 6 months | 2 years 7 months 6 days |
Notional amount of interest rate derivatives | $ 780,000 | $ 905,000 |
Designated as Hedging Instrument | Interest Rate Swap | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 2.27% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 2 years 2 months 12 days | 2 years 6 months |
Notional amount of interest rate derivatives | $ 625,000 | |
Designated as Hedging Instrument | Interest Rate Swap | Fed Funds Effective Rate Overnight Index Swap Rate | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 1.22% | 0.87% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 2 years 2 months 12 days | |
Notional amount of interest rate derivatives | $ 400,000 | $ 200,000 |
Designated as Hedging Instrument | Interest Rate Swap | Other Assets | Fair Value Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 0 | |
Designated as Hedging Instrument | Interest Rate Swap | Other Assets | London Interbank Offered Rate (LIBOR) | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 749 | 0 |
Designated as Hedging Instrument | Interest Rate Swap | Other Assets | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 0 | |
Designated as Hedging Instrument | Interest Rate Swap | Other Assets | Fed Funds Effective Rate Overnight Index Swap Rate | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 0 | 0 |
Designated as Hedging Instrument | Interest Rate Swap | Other Liabilities | Fair Value Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | |
Designated as Hedging Instrument | Interest Rate Swap | Other Liabilities | London Interbank Offered Rate (LIBOR) | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 2,687 |
Designated as Hedging Instrument | Interest Rate Swap | Other Liabilities | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | |
Designated as Hedging Instrument | Interest Rate Swap | Other Liabilities | Fed Funds Effective Rate Overnight Index Swap Rate | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 0 | $ 0 |
Designated as Hedging Instrument | Interest Rate Cap | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 0.88% | 1% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 3 years | 3 years 6 months |
Notional amount of interest rate derivatives | $ 200,000 | $ 200,000 |
Designated as Hedging Instrument | Interest Rate Cap | Other Assets | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 11,542 | 3,260 |
Designated as Hedging Instrument | Interest Rate Cap | Other Liabilities | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | $ 0 |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.57% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 5 years | |
Notional amount of interest rate derivatives | $ 1,555,804 | $ 1,668,517 |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | London Interbank Offered Rate (LIBOR) | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.55% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 4 years 6 months | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 4.12% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 6 years 8 months 12 days | |
Notional amount of interest rate derivatives | $ 158,284 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 3,369 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Assets | London Interbank Offered Rate (LIBOR) | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 21,947 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Assets | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 4,408 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 15,347 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Liabilities | London Interbank Offered Rate (LIBOR) | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 1,093 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Liabilities | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 1,179 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.57% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 5 years | |
Notional amount of interest rate derivatives | $ 1,555,804 | $ 1,668,517 |
Derivatives not designated as hedges | Pay-variable interest rate swaps | London Interbank Offered Rate (LIBOR) | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.55% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 4 years 6 months | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 4.12% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 6 years 8 months 12 days | |
Notional amount of interest rate derivatives | $ 158,284 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 51,947 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Assets | London Interbank Offered Rate (LIBOR) | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 2,517 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Assets | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 1,171 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 6,837 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Liabilities | London Interbank Offered Rate (LIBOR) | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 66,139 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Liabilities | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 4,408 | |
Derivatives not designated as hedges | Interest rate caps purchased, indexed to 1-month Libor | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 2.47% | 1% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 3 years 2 months 12 days | 4 years |
Notional amount of interest rate derivatives | $ 49,130 | $ 25,000 |
Derivatives not designated as hedges | Interest rate caps purchased, indexed to 1-month Libor | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 1,369 | 443 |
Derivatives not designated as hedges | Interest rate caps purchased, indexed to 1-month Libor | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 0 | $ 0 |
Derivatives not designated as hedges | Interest rate caps sold, indexed to 1-month Libor | ||
Derivatives Fair Value [Line Items] | ||
Weighted average fixed rate of interest rate derivatives (in Percent) | 2.47% | 1% |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 3 years 2 months 12 days | 4 years |
Notional amount of interest rate derivatives | $ 49,130 | $ 25,000 |
Derivatives not designated as hedges | Interest rate caps sold, indexed to 1-month Libor | Other Assets | ||
Derivatives Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 0 | 0 |
Derivatives not designated as hedges | Interest rate caps sold, indexed to 1-month Libor | Other Liabilities | ||
Derivatives Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 1,368 | $ 443 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities Derivative and Hedging Activities - Amount of loss reclassified from AOCI into Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (4,158) | $ (14,882) | $ (9,590) | $ (29,857) |
Borrowings | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (3,703) | (14,882) | (8,413) | (29,857) |
Deposits | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (455) | $ 0 | $ (1,177) | $ 0 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities Derivative and Hedging Activities - Amount of gain (loss) recognized in earnings on Fair Value hedges (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest Income | ||||
Derivative and Hedging Activities - Amount of gain (loss) recognized in earnings on Fair Value hedges [Abstract] | ||||
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | $ 1,197 | $ 0 | $ 1,897 | $ 0 |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (1,252) | 0 | (1,985) | 0 |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | (55) | 0 | (88) | 0 |
Derivatives Fair Value [Line Items] | ||||
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | 1,197 | 0 | 1,897 | 0 |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (1,252) | 0 | (1,985) | 0 |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | (55) | 0 | (88) | 0 |
Borrowings | ||||
Derivative and Hedging Activities - Amount of gain (loss) recognized in earnings on Fair Value hedges [Abstract] | ||||
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | 0 | (669) | 0 | (1,496) |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 0 | 670 | 0 | 1,495 |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | 0 | 1 | 0 | (1) |
Derivatives Fair Value [Line Items] | ||||
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | 0 | (669) | 0 | (1,496) |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 0 | 670 | 0 | 1,495 |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | $ 0 | $ 1 | $ 0 | $ (1) |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities Derivative and Hedging Activities - Carrying Value of Hedged Item and Cumulative Fair Value Adjustments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Derivative and Hedging Activities - Carrying Value of Hedged Item and Cumulative Fair Value Adjustments [Abstract] | ||
Hedged Liability, Fair Value Hedge | $ 100,000 | $ 0 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | (1,985) | $ 0 |
Closed Portfolio and Beneficial Interest, Last-of-Layer, Amortized Cost | $ 1,100,000 |
Derivatives and Hedging Activ_7
Derivatives and Hedging Activities (Interest Rate Swaps Subject to Master Netting Agreements) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Gross Amounts Recognized, Derivative assets | $ 40,015 | $ 7,072 |
Gross Amounts Recognized, Derivative liabilities | (2,272) | (18,034) |
Gross Amounts Recognized, Derivative assets and liabilities | (37,743) | (10,962) |
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 | 40,015 | 7,072 |
Net Amounts Presented in Balance Sheet, Derivative liabilities | (2,272) | (18,034) |
Derivative Asset (Liability), Fair Value, Amount Not Offset Against Collateral | 37,743 | 10,962 |
Gross Amounts Not Offset in Balance Sheet | ||
Derivative Instruments, Derivative assets | (3,339) | (3,104) |
Derivative Instruments, Derivative liabilities | 3,339 | 3,104 |
Derivative Instruments, Derivative assets and liabilities | 0 | 0 |
Collateral Pledged, Derivative assets | (36,659) | (3,915) |
Collateral Pledged, Derivative liabilities | 0 | 14,557 |
Collateral Pledged, Derivative assets and liabilities | (36,659) | (10,642) |
Net Amount, Derivative assets | 17 | 53 |
Net Amount, Derivative liabilities | 1,067 | (373) |
Net Amount, Derivative assets and liabilities | $ 1,084 | $ (320) |
Derivatives and Hedging Activ_8
Derivatives and Hedging Activities (Narrative) (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Fair value of Interest rate derivative contracts cleared through the CME | $ 0 | $ 0 |
Amount expected to be reclassified from AOCI into income | $ (15,800,000) |
Stockholders' Equity (Changes i
Stockholders' Equity (Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Unrealized gains (losses) on investment securities available for sale: | ||||
Net unrealized holding gain (loss) arising during the period, Before Tax | $ 240,498 | $ (18,692) | $ 476,932 | $ 11,489 |
Amounts reclassified to gain on investment securities available for sale, net, Before Tax | 905 | 2,842 | 3,578 | 6,809 |
Net change in unrealized gains on securities available for sale, Before Tax | (241,403) | 15,850 | (480,510) | (18,298) |
Net unrealized holding gain (loss) arising during the period, Tax Effect | (62,529) | 4,766 | (123,983) | (2,930) |
Amounts reclassified to gain on investment securities available for sale, net, Tax Effect | 235 | 724 | 930 | 1,736 |
Net change in unrealized gains on securities available for sale, Tax Effect | 62,764 | (4,042) | 124,913 | 4,666 |
Net unrealized holding gain (loss) arising during the period, Net of Tax | (177,969) | 13,926 | (352,949) | (8,559) |
Amounts reclassified to gain on investment securities available for sale, net, Net of Tax | (670) | (2,118) | (2,648) | (5,073) |
Net change in unrealized gains (losses) on securities available for sale | (178,639) | 11,808 | (355,597) | (13,632) |
Unrealized losses on derivative instruments: | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 17,387 | (12,005) | 59,350 | 21,030 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax | 21,545 | 2,877 | 68,940 | 50,887 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | (4,521) | 3,061 | (15,305) | (5,363) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax | 5,602 | 733 | 17,798 | 12,976 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | 12,866 | (8,944) | 44,045 | 15,667 |
Reclassification adjustment for net losses realized in income | (3,077) | (11,088) | (7,097) | (22,244) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax | 15,943 | 2,144 | 51,142 | 37,911 |
Other comprehensive income (loss), Before Tax | (219,858) | 18,727 | (411,570) | 32,589 |
Other comprehensive income (loss), Tax Effect | 57,162 | (4,775) | 107,115 | (8,310) |
Other comprehensive income (loss) | (162,696) | 13,952 | (304,455) | 24,279 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Net unrealized holding gain (loss) arising during the period, Before Tax | (240,498) | 18,692 | (476,932) | (11,489) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 905 | 2,842 | 3,578 | 6,809 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, before Tax | (241,403) | 15,850 | (480,510) | (18,298) |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax | (62,529) | 4,766 | (123,983) | (2,930) |
Amounts reclassified to gain on investment securities available for sale, net, Tax Effect | 235 | 724 | 930 | 1,736 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | (62,764) | 4,042 | (124,913) | (4,666) |
Net unrealized holding gain (loss) arising during the period | (177,969) | 13,926 | (352,949) | (8,559) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 670 | 2,118 | 2,648 | 5,073 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | (178,639) | 11,808 | (355,597) | (13,632) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 17,387 | (12,005) | 59,350 | 21,030 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | 4,521 | (3,061) | 15,305 | 5,363 |
Net unrealized holding gains (losses) arising during the period | 12,866 | (8,944) | 44,045 | 15,667 |
Reclassification adjustment for net losses realized in income | (3,077) | (11,088) | (7,097) | (22,244) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax | 21,545 | 2,877 | 68,940 | 50,887 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax | 5,602 | 733 | 17,798 | 12,976 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax | 15,943 | 2,144 | 51,142 | 37,911 |
Other Comprehensive Income (Loss), before Tax | (219,858) | 18,727 | (411,570) | 32,589 |
Other Comprehensive Income (Loss), Tax | (57,162) | 4,775 | (107,115) | 8,310 |
Other Comprehensive Income (Loss), Net of Tax | (162,696) | 13,952 | (304,455) | 24,279 |
Deposits | ||||
Unrealized losses on derivative instruments: | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (455) | 0 | (1,177) | 0 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (118) | 0 | (306) | 0 |
Reclassification adjustment for net losses realized in income | (337) | 0 | (871) | 0 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (455) | 0 | (1,177) | 0 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (118) | 0 | (306) | 0 |
Reclassification adjustment for net losses realized in income | (337) | 0 | (871) | 0 |
Borrowings | ||||
Unrealized losses on derivative instruments: | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (3,703) | (14,882) | (8,413) | (29,857) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (963) | (3,794) | (2,187) | (7,613) |
Reclassification adjustment for net losses realized in income | (2,740) | (11,088) | (6,226) | (22,244) |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (3,703) | (14,882) | (8,413) | (29,857) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (963) | (3,794) | (2,187) | (7,613) |
Reclassification adjustment for net losses realized in income | (2,740) | (11,088) | (6,226) | (22,244) |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Unrealized losses on derivative instruments: | ||||
Other comprehensive income (loss) | 15,943 | 2,144 | 51,142 | 37,911 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax | $ 15,943 | $ 2,144 | $ 51,142 | $ 37,911 |
Stockholders' Equity (Categorie
Stockholders' Equity (Categories of Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | $ (15,940) | |||
Other comprehensive income (loss) | $ (162,696) | $ 13,952 | (304,455) | $ 24,279 |
Other comprehensive income, Ending Balance | (320,395) | (320,395) | ||
Unrealized Gains on Investment Securities Available for Sale | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | (174,099) | 38,359 | 2,859 | 63,799 |
Other comprehensive income (loss) | (178,639) | 11,808 | (355,597) | (13,632) |
Other comprehensive income, Ending Balance | (352,738) | 50,167 | (352,738) | 50,167 |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | 16,400 | (77,184) | (18,799) | (112,951) |
Other comprehensive income (loss) | 15,943 | 2,144 | 51,142 | 37,911 |
Other comprehensive income, Ending Balance | 32,343 | (75,040) | 32,343 | (75,040) |
Accumulated Other Comprehensive Loss | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | (157,699) | (38,825) | (15,940) | (49,152) |
Other comprehensive income (loss) | (162,696) | 13,952 | (304,455) | 24,279 |
Other comprehensive income, Ending Balance | $ (320,395) | $ (24,873) | $ (320,395) | $ (24,873) |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 10,137,207 | $ 10,118,369 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (74,187) | (25,314) |
Derivative Financial Instruments, Liabilities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (74,187) | (25,314) |
U.S. Treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 99,128 | 111,660 |
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 Disclosure | 2,074,547 | 2,097,796 |
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 Disclosure | 575,294 | 856,899 |
Private label residential MBS and CMOs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,636,906 | 2,149,420 |
Private label commercial MBS | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,684,630 | 2,604,010 |
Single family real estate-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 491,478 | 476,968 |
Collateralized loan obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,023,704 | 1,078,286 |
Non-mortgage asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 107,761 | 152,510 |
State and municipal obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 149,706 | 222,277 |
SBA securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 159,493 | 183,595 |
Marketable equity securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 90,857 | 120,777 |
Servicing Rights [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 5,152 | |
Derivative Financial Instruments, Assets [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 43,703 | 59,019 |
Fair Value, Inputs, Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 189,985 | 232,437 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Derivative Financial Instruments, Liabilities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | U.S. Treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 99,128 | 111,660 |
Fair Value, Inputs, Level 1 | 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 Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | 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 Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Private label residential MBS and CMOs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Private label commercial MBS | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Single family real estate-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Collateralized loan obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Non-mortgage asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | State and municipal obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | SBA securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Marketable equity securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 90,857 | 120,777 |
Fair Value, Inputs, Level 1 | Servicing Rights [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Inputs, Level 1 | Derivative Financial Instruments, Assets [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 9,947,222 | 9,885,932 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (74,187) | (25,314) |
Fair Value, Inputs, Level 2 | Derivative Financial Instruments, Liabilities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (74,187) | (25,314) |
Fair Value, Inputs, Level 2 | U.S. Treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
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 Disclosure | 2,074,547 | 2,097,796 |
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 Disclosure | 575,294 | 856,899 |
Fair Value, Inputs, Level 2 | Private label residential MBS and CMOs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,636,906 | 2,149,420 |
Fair Value, Inputs, Level 2 | Private label commercial MBS | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,684,630 | 2,604,010 |
Fair Value, Inputs, Level 2 | Single family real estate-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 491,478 | 476,968 |
Fair Value, Inputs, Level 2 | Collateralized loan obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,023,704 | 1,078,286 |
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 Disclosure | 107,761 | 152,510 |
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 Disclosure | 149,706 | 222,277 |
Fair Value, Inputs, Level 2 | SBA securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 159,493 | 183,595 |
Fair Value, Inputs, Level 2 | Marketable equity securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 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 Disclosure | 5,152 | |
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 Disclosure | $ 43,703 | $ 59,019 |
Fair Value Measurements (Asse_2
Fair Value Measurements (Assets for which Nonrecurring Changes in Fair Value have been Recorded) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 10,137,207 | $ 10,118,369 |
Fair Value, Inputs, Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 41,808 | 84,650 |
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 | 41,030 | 70,433 |
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 | 778 | 2,788 |
Property Subject to Operating Lease [Member] | Fair Value, Inputs, Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 0 | $ 11,429 |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Value and Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets: | ||
Investment securities | $ 10,103,600 | $ 10,064,887 |
Non-marketable equity securities | 213,409 | 135,859 |
Liabilities: | ||
Time deposits | 2,724,581 | 3,384,243 |
Federal funds purchased | 0 | 199,000 |
Fair Value, Inputs, Level 1 | ||
Assets: | ||
Cash and cash equivalents | 513,773 | 314,857 |
Fair Value, Inputs, Level 2 | ||
Assets: | ||
Non-marketable equity securities | 213,409 | 135,859 |
Derivative assets | 43,703 | 59,019 |
Liabilities: | ||
Demand, savings and money market deposits | 25,736,318 | 26,053,859 |
Time deposits | 2,707,046 | 3,388,435 |
Federal funds purchased | 0 | 199,000 |
FHLB advances | 4,004,974 | 1,905,629 |
Notes and other borrowings | 720,089 | 813,095 |
Derivative liabilities | 74,187 | 25,314 |
Fair Value, Inputs, Level 3 | ||
Assets: | ||
Loans, net | 23,290,146 | 24,088,190 |
Carrying Value | ||
Assets: | ||
Cash and cash equivalents | 513,773 | 314,857 |
Investment securities | 10,103,504 | 10,064,198 |
Non-marketable equity securities | 213,409 | 135,859 |
Loans, net | 23,969,775 | 23,638,596 |
Derivative assets | 43,703 | 59,019 |
Liabilities: | ||
Demand, savings and money market deposits | 25,736,318 | 26,053,859 |
Time deposits | 2,724,581 | 3,384,243 |
Federal funds purchased | 0 | 199,000 |
FHLB advances | 4,005,000 | 1,905,000 |
Notes and other borrowings | 721,166 | 721,416 |
Derivative liabilities | $ 74,187 | $ 25,314 |
Commitments and Contingencies C
Commitments and Contingencies Commitments (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | $ 5,434,851 |
Commitments to fund loans | |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | 792,730 |
Unfunded commitments under lines of credit | |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | 4,534,085 |
Commercial and standby letters of credit | |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | $ 108,036 |