Wells Fargo Real Estate Investment (WFE) 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Wells Fargo Real Estate Investment Corp.
Entity Central Index Key	1,616,093
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		12,900,000

Statement of Income (Unaudited)

Statement of Income (Unaudited) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014USD ($)$ / sharesshares	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014USD ($)$ / sharesshares
Interest income		$ 168,854	$ 171,163	$ 334,845	$ 347,728
Interest expense		31	157	267	760
Net interest income		168,823	171,006	334,578	346,968
Provision (reversal of provision) for credit losses		(4,201)	14,871	(891)	7,928
Net interest income after provision for credit losses		173,024	156,135	335,469	339,040
Noninterest income
Fees and other		451	203	596	352
Total noninterest income		451	203	596	352
Noninterest expense
Loan servicing costs		8,713	7,593	17,542	15,580
Management fees		2,749	750	5,457	1,459
Foreclosed assets		2,810	2,374	4,904	4,702
Other		303	100	550	154
Total noninterest expense		14,575	10,817	28,453	21,895
Net income		158,900	145,521	307,612	317,497
Comprehensive income		158,900	145,521	307,612	317,497
Dividends on preferred stock		4,397	14	8,794	28
Net income applicable to common stock		$ 154,503	$ 145,507	$ 298,818	$ 317,469
Per common share information (1)
Earnings per common share (in dollars per share) | $ / shares	[1]	$ 11.98	$ 11.28	$ 23.16	$ 24.61
Diluted earnings per common share (in dollars per share) | $ / shares	[1]	11.98	11.28	23.16	24.61
Dividends declared per common share (in dollars per share) | $ / shares	[1]	$ 10.85	$ 10.85	$ 21.70	$ 22.87
Average common shares outstanding (in shares) | shares		12,900,000	12,900,000	12,900,000	12,900,000
Diluted average common shares outstanding (in shares) | shares		12,900,000	12,900,000	12,900,000	12,900,000
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio				20,000
Common shares issued for each common share outstanding | shares				19,999
[1]	(1) All common share and per share disclosures reflect the 20,000-for-one stock split of the common shares effected in the form of a stock dividend of 19,999 common shares issued for each common share outstanding, paid on June 1, 2015.

Statement of Income (Parentheti

Statement of Income (Parenthetical) (Unaudited) - 6 months ended Jun. 30, 2015 - Common Stock [Member]	shares
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common shares issued for each common share outstanding	19,999

Balance Sheet

Balance Sheet - Class of Stock [Domain] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 0	$ 0
Loans, net of unearned income	13,129,852	12,949,277
Allowance for loan losses	(163,881)	(184,437)
Net loans	12,965,971	12,764,840
Accounts receivable - affiliates, net	79,656	54,424
Other assets	39,663	40,141
Total assets	13,085,290	12,859,405
Liabilities
Line of credit with Bank	706,199	496,692
Other liabilities	3,756	6,196
Total liabilities	709,955	502,888
Stockholders’ Equity
Preferred stock	110	110
Common stock – $0.01 par value, authorized 100,000,000 shares; issued and outstanding 12,900,000 shares (1)	129	129
Additional paid-in capital (1)	12,550,822	12,550,822
Retained earnings (deficit)	(175,726)	(194,544)
Total stockholders’ equity	12,375,335	12,356,517
Total liabilities and stockholders’ equity	$ 13,085,290	$ 12,859,405

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical)	6 Months Ended
	Jun. 30, 2015$ / sharesshares	Dec. 31, 2014$ / sharesshares
Stockholders’ Equity
Common stock, par value | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	12,900,000	12,900,000
Common stock, shares outstanding	12,900,000	12,900,000
Shares, Issued	23,900,667	23,900,667
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common shares issued for each common share outstanding	19,999

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Deficit) [Member]	Retained Earnings (Deficit) [Member]Series A Preferred Stock [Member]	Retained Earnings (Deficit) [Member]Series B Preferred Stock [Member]
Beginning balance at Dec. 31, 2013	$ 12,056,631			$ 0	$ 129	$ 12,284,931	$ (228,429)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	317,497						317,497
Cash dividends
Preferred securities			$ (28)						$ (28)
Common stock	(295,000)						(295,000)
Ending balance at Jun. 30, 2014	12,079,100			0	129	12,284,931	(205,960)
Beginning balance at Dec. 31, 2014	12,356,517			110	129	12,550,822	(194,544)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	307,612						307,612
Cash dividends
Preferred securities		$ (8,766)	$ (28)					$ (8,766)	$ (28)
Common stock	(280,000)						(280,000)
Ending balance at Jun. 30, 2015	$ 12,375,335			$ 110	$ 129	$ 12,550,822	$ (175,726)

Statement of Changes in Stockh7

Statement of Changes in Stockholders' Equity (Parenthetical) (Unaudited)	6 Months Ended
	Jun. 30, 2015$ / sharesshares	Jun. 30, 2014$ / shares
Common stock, dividend per share (in dollars per share)	$ 21.70	$ 22.87
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common shares issued for each common share outstanding | shares	19,999
Series A Preferred Stock [Member]
Preferred stock, dividend per share (in dollars per share)	$ 0.80
Series B Preferred Stock [Member]
Preferred stock, dividend per share (in dollars per share)	$ 42.50	$ 42.50

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 307,612	$ 317,497
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion and amortization of adjustments on loans	(41,978)	(35,007)
Provision (reversal of provision) for credit losses	(891)	7,928
Other operating activities, net	(11,842)	(16,399)
Net cash provided by operating activities	252,901	274,019
Increase (decrease) in cash realized from Loans:
Acquisitions	(1,700,667)	(878,972)
Proceeds from payments and sales	1,528,075	1,241,693
Net cash (used) provided by investing activities	(172,592)	362,721
Increase (decrease) in cash realized from
Draws on line of credit with Bank	707,205	715,540
Repayments of line of credit with Bank	(497,698)	(1,057,252)
Cash dividends paid	(289,816)	(295,028)
Net cash used by financing activities	(80,309)	(636,740)
Net change in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Change in noncash items:
Transfers from loans to foreclosed assets	$ 6,135	$ 8,062

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1: Summary of Significant Accounting Policies Wells Fargo Real Estate Investment Corporation (the Company, we, our or us) is a direct subsidiary of Wachovia Preferred Funding Corp. (WPFC) and an indirect subsidiary of both Wells Fargo & Company (Wells Fargo) and Wells Fargo Bank, National Association (the Bank). The Company, a Delaware corporation, has operated as a real estate investment trust (REIT) since its formation in 1996. The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles (GAAP). The preparation of the financial statements in accordance with GAAP requires management to make estimates based on assumptions about future economic and market conditions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual future conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates related to the allowance for credit losses (Note 2 (Loans and Allowance for Credit Losses)). Actual results could differ from those estimates. These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2014 Form 10-K. Subsequent Events We have evaluated the effects of subsequent events that have occurred subsequent to June 30, 2015 . There were no subsequent events requiring adjustment to the financial statements or disclosure in the Notes to Financial Statements.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans and Allowance for Credit Losses	Note 2: Loans and Allowance for Credit Losses The Company acquires loans originated or purchased by the Bank. In order to maintain our status as a REIT, the composition of the loans is highly concentrated in real estate. Underlying loans are concentrated primarily in California, Florida, New Jersey, Pennsylvania and North Carolina. These markets include approximately 44% of our total loan balance at June 30, 2015 . The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $332.2 million and $347.1 million at June 30, 2015 and December 31, 2014 , respectively, which were predominantly unamortized discounts and premiums. (in thousands) Jun 30, Dec 31, Commercial: Commercial and industrial $ 54,294 58,559 Secured by real estate 2,845,636 3,121,106 Total commercial 2,899,930 3,179,665 Consumer: Real estate 1-4 family first mortgage 8,668,854 8,023,294 Real estate 1-4 family junior lien mortgage 1,561,068 1,746,318 Total consumer 10,229,922 9,769,612 Total loans $ 13,129,852 12,949,277 The following table summarizes the proceeds paid (including accrued interest receivable of $4.0 million for the first half of 2015 and $2.6 million for the first half of 2014 , respectively) or received from the Bank for acquisitions and sales of loans, respectively. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Loan acquisitions $ — 1,700,667 1,700,667 — 878,972 878,972 Loan sales (550 ) (3,546 ) (4,096 ) (493 ) (4,707 ) (5,200 ) Six months ended June 30, Loan acquisitions $ — 1,700,667 1,700,667 — 878,972 878,972 Loan sales (550 ) (5,984 ) (6,534 ) (493 ) (14,934 ) (15,427 ) Commitments to Lend The contract or notional amount of commercial loan commitments to extend credit decreased to $344.8 million at June 30, 2015 from $413.5 million at December 31, 2014 . Pledged Loans See Note 5 (Transactions With Related Parties) for additional details on our agreement with the Bank to pledge loans. Allowance for Credit Losses (ACL) The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded credit commitments. Changes in the allowance for credit losses were: Quarter ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 177,116 212,889 185,174 244,269 Provision (reversal of provision) for credit losses (4,201 ) 14,871 (891 ) 7,928 Interest income on certain impaired loans (1) (1,269 ) (866 ) (2,349 ) (1,959 ) Loan charge-offs: Commercial: Commercial and industrial — — — — Secured by real estate (67 ) (301 ) (363 ) (301 ) Total commercial (67 ) (301 ) (363 ) (301 ) Consumer: Real estate 1-4 family first mortgage (4,896 ) (6,885 ) (10,353 ) (18,648 ) Real estate 1-4 family junior lien mortgage (7,068 ) (12,292 ) (15,645 ) (28,102 ) Total consumer (11,964 ) (19,177 ) (25,998 ) (46,750 ) Total loan charge-offs (12,031 ) (19,478 ) (26,361 ) (47,051 ) Loan recoveries: Commercial: Commercial and industrial — — — — Secured by real estate 4 — 9 9 Total commercial 4 — 9 9 Consumer: Real estate 1-4 family first mortgage 1,422 2,658 2,588 4,173 Real estate 1-4 family junior lien mortgage 3,453 2,461 6,324 5,166 Total consumer 4,875 5,119 8,912 9,339 Total loan recoveries 4,879 5,119 8,921 9,348 Net loan charge-offs (7,152 ) (14,359 ) (17,440 ) (37,703 ) Balance, end of period $ 164,494 212,535 164,494 212,535 Components: Allowance for loan losses $ 163,881 211,809 163,881 211,809 Allowance for unfunded credit commitments 613 726 613 726 Allowance for credit losses $ 164,494 212,535 164,494 212,535 Net loan charge-offs (annualized) as a percentage of average total loans 0.23 % 0.46 0.28 0.60 Allowance for loan losses as a percentage of total loans 1.25 1.66 1.25 1.66 Allowance for credit losses as a percentage of total loans 1.25 1.67 1.25 1.67 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in allowance as interest income. The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 19,679 157,437 177,116 26,015 186,874 212,889 Provision (reversal of provision) for credit losses (810 ) (3,391 ) (4,201 ) (484 ) 15,355 14,871 Interest income on certain impaired loans — (1,269 ) (1,269 ) — (866 ) (866 ) Loan charge-offs (67 ) (11,964 ) (12,031 ) (301 ) (19,177 ) (19,478 ) Loan recoveries 4 4,875 4,879 — 5,119 5,119 Net loan charge-offs (63 ) (7,089 ) (7,152 ) (301 ) (14,058 ) (14,359 ) Balance, end of period $ 18,806 145,688 164,494 25,230 187,305 212,535 Six months ended June 30, Balance, beginning of period $ 19,476 165,698 185,174 26,145 218,124 244,269 Provision (reversal of provision) for credit losses (316 ) (575 ) (891 ) (623 ) 8,551 7,928 Interest income on certain impaired loans — (2,349 ) (2,349 ) — (1,959 ) (1,959 ) Loan charge-offs (363 ) (25,998 ) (26,361 ) (301 ) (46,750 ) (47,051 ) Loan recoveries 9 8,912 8,921 9 9,339 9,348 Net loan charge-offs (354 ) (17,086 ) (17,440 ) (292 ) (37,411 ) (37,703 ) Balance, end of period $ 18,806 145,688 164,494 25,230 187,305 212,535 The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Allowance for credit losses Recorded investment in loans (in thousands) Commercial Consumer Total Commercial Consumer Total June 30, 2015 Collectively evaluated (1) $ 17,023 42,281 59,304 2,886,908 9,693,775 12,580,683 Individually evaluated (2) 1,783 103,407 105,190 11,742 512,264 524,006 Purchased credit-impaired (PCI) (3) — — — 1,280 23,883 25,163 Total $ 18,806 145,688 164,494 2,899,930 10,229,922 13,129,852 December 31, 2014 Collectively evaluated (1) $ 17,535 53,999 71,534 3,172,418 9,218,652 12,391,070 Individually evaluated (2) 1,941 111,699 113,640 5,127 523,264 528,391 PCI (3) — — — 2,120 27,696 29,816 Total $ 19,476 165,698 185,174 3,179,665 9,769,612 12,949,277 (1) Represents loans collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans. Credit Quality We monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the allowance for credit losses. The following sections provide the credit quality indicators we most closely monitor. The credit quality indicators are generally based on information as of our financial statement date, with the exception of updated Fair Isaac Corporation (FICO) scores and updated loan-to-value (LTV)/combined LTV (CLTV), which are obtained at least quarterly. Generally, these indicators are updated in the second month of each quarter, with updates no older than March 31, 2015 . COMMERCIAL CREDIT QUALITY INDICATORS In addition to monitoring commercial loan concentration risk, we manage a consistent process for assessing commercial loan credit quality. Generally commercial loans are subject to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to Pass and Criticized categories. The Criticized category includes Special Mention, Substandard, and Doubtful categories which are defined by bank regulatory agencies. The table below provides a breakdown of outstanding commercial loans by risk category. (in thousands) Commercial and industrial Secured by real estate Total June 30, 2015 By risk category: Pass $ 54,095 2,790,806 2,844,901 Criticized 199 54,830 55,029 Total commercial loans $ 54,294 2,845,636 2,899,930 December 31, 2014 By risk category: Pass $ 58,559 3,099,896 3,158,455 Criticized — 21,210 21,210 Total commercial loans $ 58,559 3,121,106 3,179,665 The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices. (in thousands) Commercial and industrial Secured by real estate Total June 30, 2015 By delinquency status: Current-29 days past due (DPD) and still accruing $ 54,294 2,828,327 2,882,621 30-89 DPD and still accruing — 6,905 6,905 90+ DPD and still accruing — — — Nonaccrual loans — 10,404 10,404 Total commercial loans $ 54,294 2,845,636 2,899,930 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 58,559 3,112,991 3,171,550 30-89 DPD and still accruing — 3,901 3,901 90+ DPD and still accruing — — — Nonaccrual loans — 4,214 4,214 Total commercial loans $ 58,559 3,121,106 3,179,665 CONSUMER CREDIT QUALITY INDICATORS We have various classes of consumer loans that present respective unique risks. Loan delinquency, FICO credit scores and LTV/CLTV for loan types are common credit quality indicators that we monitor and utilize in our evaluation of the appropriateness of the allowance for credit losses for the consumer portfolio segment. The majority of our loss estimation techniques used for the allowance for credit losses rely on delinquency matrix models or delinquency roll rate models. Therefore, delinquency is an important indicator of credit quality and the establishment of our allowance for credit losses. The following table provides the outstanding balances of our consumer portfolio by delinquency status. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total June 30, 2015 By delinquency status: Current-29 DPD $ 8,485,742 1,495,461 9,981,203 30-59 DPD 37,167 19,833 57,000 60-89 DPD 19,392 11,595 30,987 90-119 DPD 10,334 7,300 17,634 120-179 DPD 20,789 6,885 27,674 180+ DPD 106,814 22,643 129,457 Remaining PCI accounting adjustments (11,384 ) (2,649 ) (14,033 ) Total consumer loans $ 8,668,854 1,561,068 10,229,922 December 31, 2014 By delinquency status: Current-29 DPD $ 7,819,624 1,670,204 9,489,828 30-59 DPD 43,991 22,639 66,630 60-89 DPD 24,190 13,360 37,550 90-119 DPD 12,856 8,049 20,905 120-179 DPD 19,552 10,351 29,903 180+ DPD 114,508 23,907 138,415 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total June 30, 2015 By updated FICO: < 600 $ 320,123 178,393 498,516 600-639 230,357 118,994 349,351 640-679 454,565 191,949 646,514 680-719 884,827 264,718 1,149,545 720-759 1,476,474 306,710 1,783,184 760-799 3,550,966 317,125 3,868,091 800+ 1,674,878 167,218 1,842,096 No FICO available 88,048 18,610 106,658 Remaining PCI accounting adjustments (11,384 ) (2,649 ) (14,033 ) Total consumer loans $ 8,668,854 1,561,068 10,229,922 December 31, 2014 By updated FICO: < 600 $ 352,071 207,535 559,606 600-639 261,911 122,907 384,818 640-679 462,643 200,737 663,380 680-719 974,778 295,492 1,270,270 720-759 1,425,335 354,841 1,780,176 760-799 2,970,256 361,942 3,332,198 800+ 1,498,996 184,976 1,683,972 No FICO available 88,731 20,080 108,811 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. CLTV refers to the combination of first mortgage and junior lien mortgage ratios. LTVs and CLTVs are updated quarterly using a cascade approach which first uses values provided by automated valuation models (AVMs) for the property. If an AVM is not available, then the value is estimated using the original appraised value adjusted by the change in Home Price Index (HPI) for the property location. If an HPI is not available, the original appraised value is used. The HPI value is normally the only method considered for high value properties, generally with an original value of $1 million or more, as the AVM values have proven less accurate for these properties. The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions. (in thousands) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total June 30, 2015 By LTV/CLTV: 0-60% $ 3,962,209 422,101 4,384,310 60.01-80% 3,667,991 385,418 4,053,409 80.01-100% 792,452 411,774 1,204,226 100.01-120% (1) 149,394 225,891 375,285 > 120% (1) 75,861 116,133 191,994 No LTV/CLTV available 32,331 2,400 34,731 Remaining PCI accounting adjustments (11,384 ) (2,649 ) (14,033 ) Total consumer loans $ 8,668,854 1,561,068 10,229,922 December 31, 2014 By LTV/CLTV: 0-60% $ 4,007,543 470,244 4,477,787 60.01-80% 2,958,255 445,892 3,404,147 80.01-100% 801,111 453,564 1,254,675 100.01-120% (1) 164,249 249,423 413,672 > 120% (1) 64,619 127,355 191,974 No LTV/CLTV available 38,944 2,032 40,976 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. NONACCRUAL LOANS The following table provides loans on nonaccrual status. PCI loans are excluded from this table due to the existence of the accretable yield. (in thousands) Jun 30, Dec 31, Commercial: Commercial and industrial $ — — Secured by real estate 10,404 4,214 Total commercial 10,404 4,214 Consumer: Real estate 1-4 family first mortgage 224,674 236,859 Real estate 1-4 family junior lien mortgage 72,975 80,375 Total consumer 297,649 317,234 Total nonaccrual loans (excluding PCI) $ 308,053 321,448 LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $4.0 million at June 30, 2015 , and $4.9 million at December 31, 2014, are excluded from this disclosure even though they are 90 days or more contractually past due. These PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. The following table shows non-PCI loans 90 days or more past due and still accruing. (in thousands) Jun 30, 2015 Dec 31, 2014 Commercial: Commercial and industrial $ — — Secured by real estate — — Total commercial — — Consumer: Real estate 1-4 family first mortgage 5,395 6,020 Real estate 1-4 family junior lien mortgage 3,716 4,240 Total consumer 9,111 10,260 Total past due (excluding PCI) $ 9,111 10,260 Impaired Loans The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $15.5 million at June 30, 2015 , and $15.1 million at December 31, 2014 . Recorded investment (in thousands) Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses June 30, 2015 Commercial: Commercial and industrial $ — — — — Secured by real estate 13,954 11,742 11,742 1,783 Total commercial 13,954 11,742 11,742 1,783 Consumer: Real estate 1-4 family first mortgage 472,761 391,683 153,614 63,933 Real estate 1-4 family junior lien mortgage 134,827 120,581 81,893 39,474 Total consumer 607,588 512,264 235,507 103,407 Total impaired loans (excluding PCI) $ 621,542 524,006 247,249 105,190 December 31, 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate 7,391 5,127 5,127 1,941 Total commercial 7,391 5,127 5,127 1,941 Consumer: Real estate 1-4 family first mortgage 483,084 397,858 283,549 68,589 Real estate 1-4 family junior lien mortgage 157,182 125,406 106,777 43,110 Total consumer 640,266 523,264 390,326 111,699 Total impaired loans (excluding PCI) $ 647,657 528,391 395,453 113,640 The following table provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended June 30, Six months ended June 30, 2015 2014 2015 2014 (in thousands) Average Recognized interest income Average recorded investment Recognized interest income Average Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ — — — — — — — — Secured by real estate 7,711 36 6,771 179 6,853 77 7,451 182 Total commercial 7,711 36 6,771 179 6,853 77 7,451 182 Consumer: Real estate 1-4 family first mortgage 394,137 5,931 402,663 5,671 394,921 11,502 403,610 10,906 Real estate 1-4 family junior lien mortgage 121,615 2,336 128,281 2,489 122,713 4,776 129,349 4,747 Total consumer 515,752 8,267 530,944 8,160 517,634 16,278 532,959 15,653 Total impaired loans $ 523,463 8,303 537,715 8,339 524,487 16,355 540,410 15,835 Interest income: Cash basis of accounting $ 2,624 2,714 5,199 5,688 Other (1) 5,679 5,625 11,156 10,147 Total interest income $ 8,303 8,339 16,355 15,835 (1) Includes interest recognized on accruing TDRs and interest recognized related to the passage of time on certain impaired loans. See footnote 1 to the table of changes in the allowance for credit losses. Troubled Debt Restructuring (TDRs) When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR. We do not consider any loans modified through a loan resolution such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency status and accrue interest according to their original terms. The planned modifications for these arrangements predominantly involve interest rate reductions or other interest rate concessions, however, the exact concession type and resulting financial effect are usually not finalized and do not take effect until the loan is permanently modified. The trial period terms are developed in accordance with our proprietary programs or the U.S. Treasury’s Making Homes Affordable programs for real estate 1-4 family first lien (i.e. Home Affordable Modification Program - HAMP) and junior lien (i.e. Second Lien Modification Program - 2MP) mortgage loans. At June 30, 2015 , the loans in trial modification period were $7.7 million under HAMP, $803 thousand under 2MP and $7.0 million under proprietary programs, compared with $7.7 million , $1.3 million and $6.1 million at December 31, 2014 , respectively. Trial modifications with a recorded investment of $6.2 million at June 30, 2015 , and $6.8 million at December 31, 2014 , were accruing loans and $9.3 million and $8.3 million , respectively, were nonaccruing loans. Our experience is that substantially all of the mortgages that enter a trial payment period program are successful in completing the program requirements and are then permanently modified at the end of the trial period. As previously discussed, our allowance process considers the impact of those modifications that are probable to occur including the associated credit cost and related re-default risk. The following table summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. For those loans that may be modified more than once, the table reflects each modification that occurred during the period. Loans that both modify and resolve within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table. Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended June 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 1,501 1,501 — — — Total commercial — — 1,501 1,501 — — — Consumer: Real estate 1-4 family first mortgage 2,413 4,648 5,486 12,547 340 3.54 6,288 Real estate 1-4 family junior lien mortgage 538 1,124 1,362 3,024 414 5.28 1,416 Trial modifications (6) — — 2,280 2,280 — — — Total consumer 2,951 5,772 9,128 17,851 754 3.86 7,704 Total $ 2,951 5,772 10,629 19,352 754 3.86 % $ 7,704 Quarter ended June 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — — — — — — Total commercial — — — — — — — Consumer: Real estate 1-4 family first mortgage 5,170 5,066 6,488 16,724 1,093 3.27 9,890 Real estate 1-4 family junior lien mortgage 964 1,094 2,491 4,549 743 5.93 2,014 Trial modifications (6) — — 1,053 1,053 — — — Total consumer 6,134 6,160 10,032 22,326 1,836 3.72 11,904 Total $ 6,134 6,160 10,032 22,326 1,836 3.72 % $ 11,904 Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Six months ended June 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 3,884 3,884 — — — Total commercial — — 3,884 3,884 — — — Consumer: Real estate 1-4 family first mortgage 4,208 10,518 9,761 24,487 1,170 3.32 13,642 Real estate 1-4 family junior lien mortgage 697 2,275 2,842 5,814 932 5.29 2,658 Trial modifications (6) — — 1,984 1,984 — — — Total consumer 4,905 12,793 14,587 32,285 2,102 3.64 16,300 Total $ 4,905 12,793 18,471 36,169 2,102 3.64 % $ 16,300 Six months ended June 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 382 382 — — — Total commercial — — 382 382 — — — Consumer: Real estate 1-4 family first mortgage 12,996 10,852 15,466 39,314 2,948 3.18 22,856 Real estate 1-4 family junior lien mortgage 1,904 3,037 3,685 8,626 1,872 5.10 4,746 Trial modifications (6) — — (1,698 ) (1,698 ) — — — Total consumer 14,900 13,889 17,453 46,242 4,820 3.51 27,602 Total $ 14,900 13,889 17,835 46,624 4,820 3.51 % $ 27,602 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs with multiple types of concessions are presented only once in the table in the first category type based on the order presented. The reported amounts include loans remodified of $5.3 million and $6.2 million for the quarters ended June 30, 2015 and 2014 , and $8.0 million and $13.0 million for the first half of 2015 and 2014 , respectively. (2) Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate. (3) Other concessions include loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the interest rate. (4) Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $549 thousand and $1.3 million for the quarters ended June 30, 2015 and 2014 , and $1.2 million and $3.3 million for the first half of 2015 and 2014 respectively. (5) Reflects the effect of reduced interest rates to loans with a principal or interest rate reduction primary modification type. (6) Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period. The table below summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We report these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment. Recorded investment of defaults Quarter ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate — — — 186 Total commercial — — — 186 Consumer: Real estate 1-4 family first mortgage 902 1,333 2,467 1,656 Real estate 1-4 family junior lien mortgage 165 1,246 431 1,491 Total consumer 1,067 2,579 2,898 3,147 Total $ 1,067 2,579 2,898 3,333

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Values of Assets and Liabilities	Note 3: Fair Values of Assets and Liabilities We use fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. We did not elect the fair value option for any financial instruments as permitted in FASB ASC 825, Financial Instruments , which allows companies to elect to carry certain financial instruments at fair value with corresponding changes in fair value reported in the results of operations. As of June 30, 2015 and December 31, 2014 , assets measured at fair value on a nonrecurring basis were less than 1 percent of total assets. See Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K for additional information about our fair value measurement policies and methods. Disclosures about Fair Value of Financial Instruments The table below is a summary of fair value estimates by level for financial instruments. The carrying amounts in the following table are recorded in the balance sheet under the indicated captions. We have not included assets and liabilities that are not financial instruments in our disclosure, such as other assets and other liabilities. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. Carrying amount Estimated fair value (in thousands) Level 1 Level 2 Level 3 Total June 30, 2015 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 12,965,971 — — 13,714,649 13,714,649 Financial liabilities Line of credit with Bank (1) 706,199 — — 706,199 706,199 December 31, 2014 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 12,764,840 — — 13,721,645 13,721,645 Financial liabilities Line of credit with Bank (1) 496,692 — — 496,692 496,692 (1) Amounts consist of financial instruments in which carrying value approximates fair value. (2) Carrying amount reflects net discount and allowance for loan losses.

Common and Preferred Stock

Common and Preferred Stock	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Common and Preferred Stock	Note 4: Common and Preferred Stock The Company has authorized preferred and common stock. The following table provides details of common and preferred stock. June 30, 2015 and December 31, 2014 Liquidation Shares Shares Par value Carrying Preferred stock: Series A 6.375%, Cumulative, Perpetual Series A Preferred Stock $ 25 11,000,000 11,000,000 $ 0.01 110,000 Series B $85 Annual Dividend Per Share, Cumulative, Perpetual Series B Preferred Stock 1,000 1,000 667 0.01 7 Common stock (1) 100,000,000 12,900,000 0.01 129,000 Total 111,001,000 23,900,667 $ 239,007 (1) All common share and per share disclosures reflect the 20,000 -for-one stock split of the common shares effected in the form of a stock dividend of 19,999 common shares issued for each common share outstanding, paid on June 1, 2015. In the event that the Company is liquidated or dissolved, the holders of the Series A and Series B preferred stock will be entitled to a liquidation preference for each security plus any authorized, declared, but unpaid dividends and any accumulated but unpaid dividends that will be paid prior to any payments to common stockholders. With respect to the payment of dividends and liquidation preference, the Series A preferred stock ranks on parity with Series B preferred stock and senior to the Company’s common stock. Additional information related to Series A and B preferred stock is included in Note 5 (Common and Preferred Stock) to Financial Statements in our 2014 Form 10-K.

Transactions With Related Parti

Transactions With Related Parties	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Transactions With Related Parties	Note 5: Transactions With Related Parties The Company engages in various transactions and agreements with affiliated parties in the ordinary course of business. Due to the nature of common ownership of the Company and the affiliated parties by Wells Fargo, these transactions and agreements could differ from those conducted with unaffiliated parties. The principal items related to transactions with affiliated parties included in the accompanying statement of income and balance sheet are described in the table and narrative below. Quarter ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Income statement data Interest income: Accretion and amortization of adjustments on loans $ 25,452 14,582 41,978 30,766 Interest on deposits 292 42 304 42 Total interest income 25,744 14,624 42,282 30,808 Pledge fees 318 — 318 — Interest expense 31 157 267 760 Loan servicing costs 8,704 7,582 17,524 15,557 Management fees 2,749 750 5,457 1,459 (in thousands) Jun 30, Dec 31, Balance sheet related data Loan acquisitions (year-to-date) (1) $ 1,700,667 2,566,372 Loan sales (year-to-date) (6,534 ) (23,496 ) Pledged loans (carrying value) (2) 3,326,925 — Foreclosed asset sales (year-to-date) (5,560 ) (14,971 ) Line of credit with Bank 706,199 496,692 Accounts receivable - affiliates, net 79,656 54,424 (1) Includes accrued interest, see Note 2 (Loans and Allowance for Credit Losses) for additional details. (2) The fair value of pledged loans was approximately $3.5 billion at June 30, 2015 . Loans We acquire and sell loans to and from the Bank. The acquisitions and sales are transacted at fair value resulting in acquisition discounts and premiums or gains and losses on sales. The net acquisition discount accretion is reported within interest income. Gains or losses on sales of loans are included within noninterest income. We may pledge our loans in an aggregate amount not exceeding 80% of our total assets at any time as collateral on behalf of the Bank for the Bank’s access to secured borrowing facilities through the Federal Home Loan Banks or the discount window of Federal Reserve Banks. In exchange for the pledge of our loan assets, the Bank will pay us a fee that is consistent with market terms. Such fee may be renegotiated by us and the Bank from time to time. Loan Servicing Costs The loans in our portfolio are predominantly serviced by the Bank pursuant to the terms of participation and servicing and assignment agreements. In some instances, the Bank has delegated servicing responsibility to third parties that are not affiliated with us or the Bank. Depending on the loan type, the monthly servicing fee charges are based in part on (a) outstanding principal balances, (b) a flat fee per month, or (c) a total loan commitment amount. Management Fees We pay the Bank a management fee to reimburse for general overhead expenses, including allocations of technology support and a combination of finance and accounting, risk management and other general overhead expenses incurred on our behalf. Management fees are calculated based on Wells Fargo’s total allocable costs multiplied by a formula. The formula is based on our proportion of Wells Fargo’s consolidated: 1) full-time equivalent employees, 2) total average assets and 3) total revenue. Deposits Interest income earned on deposits is included in interest income. Our cash management process includes applying operating cash flows to reduce any outstanding balance on our line of credit with the Bank. Operating cash flows are settled through our affiliate accounts receivable/payable process. Upon settlement cash received is either applied to reduce our line of credit outstanding or retained as a deposit with the Bank. Foreclosed Assets We sell foreclosed assets back to the Bank from time to time at estimated fair value. Line of Credit We have a revolving line of credit with the Bank, pursuant to which we can borrow up to $1.2 billion at a rate of interest equal to the average federal funds rate plus 12.5 basis points ( 0.125% ). Accounts Receivable - Affiliates, Net Accounts receivable from or payable to the Bank or its affiliates result from intercompany transactions which include net loan pay-downs, interest receipts, and other transactions, including those transactions noted herein, which have not yet settled.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Nature of Operations	Wells Fargo Real Estate Investment Corporation (the Company, we, our or us) is a direct subsidiary of Wachovia Preferred Funding Corp. (WPFC) and an indirect subsidiary of both Wells Fargo & Company (Wells Fargo) and Wells Fargo Bank, National Association (the Bank). The Company, a Delaware corporation, has operated as a real estate investment trust (REIT) since its formation in 1996.
Use of Estimates	The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles (GAAP). The preparation of the financial statements in accordance with GAAP requires management to make estimates based on assumptions about future economic and market conditions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual future conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates related to the allowance for credit losses (Note 2 (Loans and Allowance for Credit Losses)). Actual results could differ from those estimates.
Comparability of Prior Year Financial Data	These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2014 Form 10-K.
Subsequent Events	We have evaluated the effects of subsequent events that have occurred subsequent to June 30, 2015 . There were no subsequent events requiring adjustment to the financial statements or disclosure in the Notes to Financial Statements.

Loans and Allowance for Credi15

Loans and Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans and Allowance for Credit Losses, Loans Outstanding	The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $332.2 million and $347.1 million at June 30, 2015 and December 31, 2014 , respectively, which were predominantly unamortized discounts and premiums. (in thousands) Jun 30, Dec 31, Commercial: Commercial and industrial $ 54,294 58,559 Secured by real estate 2,845,636 3,121,106 Total commercial 2,899,930 3,179,665 Consumer: Real estate 1-4 family first mortgage 8,668,854 8,023,294 Real estate 1-4 family junior lien mortgage 1,561,068 1,746,318 Total consumer 10,229,922 9,769,612 Total loans $ 13,129,852 12,949,277
Loans and Allowance for Credit Losses, Significant Activity	The following table summarizes the proceeds paid (including accrued interest receivable of $4.0 million for the first half of 2015 and $2.6 million for the first half of 2014 , respectively) or received from the Bank for acquisitions and sales of loans, respectively. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Loan acquisitions $ — 1,700,667 1,700,667 — 878,972 878,972 Loan sales (550 ) (3,546 ) (4,096 ) (493 ) (4,707 ) (5,200 ) Six months ended June 30, Loan acquisitions $ — 1,700,667 1,700,667 — 878,972 878,972 Loan sales (550 ) (5,984 ) (6,534 ) (493 ) (14,934 ) (15,427 )
Loans and Allowance for Credit Losses, Allowance for Credit Losses	The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded credit commitments. Changes in the allowance for credit losses were: Quarter ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 177,116 212,889 185,174 244,269 Provision (reversal of provision) for credit losses (4,201 ) 14,871 (891 ) 7,928 Interest income on certain impaired loans (1) (1,269 ) (866 ) (2,349 ) (1,959 ) Loan charge-offs: Commercial: Commercial and industrial — — — — Secured by real estate (67 ) (301 ) (363 ) (301 ) Total commercial (67 ) (301 ) (363 ) (301 ) Consumer: Real estate 1-4 family first mortgage (4,896 ) (6,885 ) (10,353 ) (18,648 ) Real estate 1-4 family junior lien mortgage (7,068 ) (12,292 ) (15,645 ) (28,102 ) Total consumer (11,964 ) (19,177 ) (25,998 ) (46,750 ) Total loan charge-offs (12,031 ) (19,478 ) (26,361 ) (47,051 ) Loan recoveries: Commercial: Commercial and industrial — — — — Secured by real estate 4 — 9 9 Total commercial 4 — 9 9 Consumer: Real estate 1-4 family first mortgage 1,422 2,658 2,588 4,173 Real estate 1-4 family junior lien mortgage 3,453 2,461 6,324 5,166 Total consumer 4,875 5,119 8,912 9,339 Total loan recoveries 4,879 5,119 8,921 9,348 Net loan charge-offs (7,152 ) (14,359 ) (17,440 ) (37,703 ) Balance, end of period $ 164,494 212,535 164,494 212,535 Components: Allowance for loan losses $ 163,881 211,809 163,881 211,809 Allowance for unfunded credit commitments 613 726 613 726 Allowance for credit losses $ 164,494 212,535 164,494 212,535 Net loan charge-offs (annualized) as a percentage of average total loans 0.23 % 0.46 0.28 0.60 Allowance for loan losses as a percentage of total loans 1.25 1.66 1.25 1.66 Allowance for credit losses as a percentage of total loans 1.25 1.67 1.25 1.67 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in allowance as interest income.
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category	The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 19,679 157,437 177,116 26,015 186,874 212,889 Provision (reversal of provision) for credit losses (810 ) (3,391 ) (4,201 ) (484 ) 15,355 14,871 Interest income on certain impaired loans — (1,269 ) (1,269 ) — (866 ) (866 ) Loan charge-offs (67 ) (11,964 ) (12,031 ) (301 ) (19,177 ) (19,478 ) Loan recoveries 4 4,875 4,879 — 5,119 5,119 Net loan charge-offs (63 ) (7,089 ) (7,152 ) (301 ) (14,058 ) (14,359 ) Balance, end of period $ 18,806 145,688 164,494 25,230 187,305 212,535 Six months ended June 30, Balance, beginning of period $ 19,476 165,698 185,174 26,145 218,124 244,269 Provision (reversal of provision) for credit losses (316 ) (575 ) (891 ) (623 ) 8,551 7,928 Interest income on certain impaired loans — (2,349 ) (2,349 ) — (1,959 ) (1,959 ) Loan charge-offs (363 ) (25,998 ) (26,361 ) (301 ) (46,750 ) (47,051 ) Loan recoveries 9 8,912 8,921 9 9,339 9,348 Net loan charge-offs (354 ) (17,086 ) (17,440 ) (292 ) (37,411 ) (37,703 ) Balance, end of period $ 18,806 145,688 164,494 25,230 187,305 212,535
Loans and Allowance for Credit Losses, by Impairment Methodology	The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Allowance for credit losses Recorded investment in loans (in thousands) Commercial Consumer Total Commercial Consumer Total June 30, 2015 Collectively evaluated (1) $ 17,023 42,281 59,304 2,886,908 9,693,775 12,580,683 Individually evaluated (2) 1,783 103,407 105,190 11,742 512,264 524,006 Purchased credit-impaired (PCI) (3) — — — 1,280 23,883 25,163 Total $ 18,806 145,688 164,494 2,899,930 10,229,922 13,129,852 December 31, 2014 Collectively evaluated (1) $ 17,535 53,999 71,534 3,172,418 9,218,652 12,391,070 Individually evaluated (2) 1,941 111,699 113,640 5,127 523,264 528,391 PCI (3) — — — 2,120 27,696 29,816 Total $ 19,476 165,698 185,174 3,179,665 9,769,612 12,949,277 (1) Represents loans collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans.
Loans by Credit Quality Indicator, Commercial	The table below provides a breakdown of outstanding commercial loans by risk category. (in thousands) Commercial and industrial Secured by real estate Total June 30, 2015 By risk category: Pass $ 54,095 2,790,806 2,844,901 Criticized 199 54,830 55,029 Total commercial loans $ 54,294 2,845,636 2,899,930 December 31, 2014 By risk category: Pass $ 58,559 3,099,896 3,158,455 Criticized — 21,210 21,210 Total commercial loans $ 58,559 3,121,106 3,179,665
Loans by Delinquency Status, Commercial	The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices. (in thousands) Commercial and industrial Secured by real estate Total June 30, 2015 By delinquency status: Current-29 days past due (DPD) and still accruing $ 54,294 2,828,327 2,882,621 30-89 DPD and still accruing — 6,905 6,905 90+ DPD and still accruing — — — Nonaccrual loans — 10,404 10,404 Total commercial loans $ 54,294 2,845,636 2,899,930 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 58,559 3,112,991 3,171,550 30-89 DPD and still accruing — 3,901 3,901 90+ DPD and still accruing — — — Nonaccrual loans — 4,214 4,214 Total commercial loans $ 58,559 3,121,106 3,179,665
Loans by Delinquency Status, Consumer	The following table provides the outstanding balances of our consumer portfolio by delinquency status. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total June 30, 2015 By delinquency status: Current-29 DPD $ 8,485,742 1,495,461 9,981,203 30-59 DPD 37,167 19,833 57,000 60-89 DPD 19,392 11,595 30,987 90-119 DPD 10,334 7,300 17,634 120-179 DPD 20,789 6,885 27,674 180+ DPD 106,814 22,643 129,457 Remaining PCI accounting adjustments (11,384 ) (2,649 ) (14,033 ) Total consumer loans $ 8,668,854 1,561,068 10,229,922 December 31, 2014 By delinquency status: Current-29 DPD $ 7,819,624 1,670,204 9,489,828 30-59 DPD 43,991 22,639 66,630 60-89 DPD 24,190 13,360 37,550 90-119 DPD 12,856 8,049 20,905 120-179 DPD 19,552 10,351 29,903 180+ DPD 114,508 23,907 138,415 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612
Loans by FICO Score, Consumer	The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total June 30, 2015 By updated FICO: < 600 $ 320,123 178,393 498,516 600-639 230,357 118,994 349,351 640-679 454,565 191,949 646,514 680-719 884,827 264,718 1,149,545 720-759 1,476,474 306,710 1,783,184 760-799 3,550,966 317,125 3,868,091 800+ 1,674,878 167,218 1,842,096 No FICO available 88,048 18,610 106,658 Remaining PCI accounting adjustments (11,384 ) (2,649 ) (14,033 ) Total consumer loans $ 8,668,854 1,561,068 10,229,922 December 31, 2014 By updated FICO: < 600 $ 352,071 207,535 559,606 600-639 261,911 122,907 384,818 640-679 462,643 200,737 663,380 680-719 974,778 295,492 1,270,270 720-759 1,425,335 354,841 1,780,176 760-799 2,970,256 361,942 3,332,198 800+ 1,498,996 184,976 1,683,972 No FICO available 88,731 20,080 108,811 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612
Loans by Loan to Value Ratio, Consumer	The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions. (in thousands) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total June 30, 2015 By LTV/CLTV: 0-60% $ 3,962,209 422,101 4,384,310 60.01-80% 3,667,991 385,418 4,053,409 80.01-100% 792,452 411,774 1,204,226 100.01-120% (1) 149,394 225,891 375,285 > 120% (1) 75,861 116,133 191,994 No LTV/CLTV available 32,331 2,400 34,731 Remaining PCI accounting adjustments (11,384 ) (2,649 ) (14,033 ) Total consumer loans $ 8,668,854 1,561,068 10,229,922 December 31, 2014 By LTV/CLTV: 0-60% $ 4,007,543 470,244 4,477,787 60.01-80% 2,958,255 445,892 3,404,147 80.01-100% 801,111 453,564 1,254,675 100.01-120% (1) 164,249 249,423 413,672 > 120% (1) 64,619 127,355 191,974 No LTV/CLTV available 38,944 2,032 40,976 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.
Nonaccrual Loans	The following table provides loans on nonaccrual status. PCI loans are excluded from this table due to the existence of the accretable yield. (in thousands) Jun 30, Dec 31, Commercial: Commercial and industrial $ — — Secured by real estate 10,404 4,214 Total commercial 10,404 4,214 Consumer: Real estate 1-4 family first mortgage 224,674 236,859 Real estate 1-4 family junior lien mortgage 72,975 80,375 Total consumer 297,649 317,234 Total nonaccrual loans (excluding PCI) $ 308,053 321,448
90 days Past Due but Still Accruing Loans	The following table shows non-PCI loans 90 days or more past due and still accruing. (in thousands) Jun 30, 2015 Dec 31, 2014 Commercial: Commercial and industrial $ — — Secured by real estate — — Total commercial — — Consumer: Real estate 1-4 family first mortgage 5,395 6,020 Real estate 1-4 family junior lien mortgage 3,716 4,240 Total consumer 9,111 10,260 Total past due (excluding PCI) $ 9,111 10,260
Impaired Loans	The table below includes trial modifications that totaled $15.5 million at June 30, 2015 , and $15.1 million at December 31, 2014 . Recorded investment (in thousands) Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses June 30, 2015 Commercial: Commercial and industrial $ — — — — Secured by real estate 13,954 11,742 11,742 1,783 Total commercial 13,954 11,742 11,742 1,783 Consumer: Real estate 1-4 family first mortgage 472,761 391,683 153,614 63,933 Real estate 1-4 family junior lien mortgage 134,827 120,581 81,893 39,474 Total consumer 607,588 512,264 235,507 103,407 Total impaired loans (excluding PCI) $ 621,542 524,006 247,249 105,190 December 31, 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate 7,391 5,127 5,127 1,941 Total commercial 7,391 5,127 5,127 1,941 Consumer: Real estate 1-4 family first mortgage 483,084 397,858 283,549 68,589 Real estate 1-4 family junior lien mortgage 157,182 125,406 106,777 43,110 Total consumer 640,266 523,264 390,326 111,699 Total impaired loans (excluding PCI) $ 647,657 528,391 395,453 113,640
Impaired Loans, Average Recorded Investment and Interest Income	The following table provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended June 30, Six months ended June 30, 2015 2014 2015 2014 (in thousands) Average Recognized interest income Average recorded investment Recognized interest income Average Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ — — — — — — — — Secured by real estate 7,711 36 6,771 179 6,853 77 7,451 182 Total commercial 7,711 36 6,771 179 6,853 77 7,451 182 Consumer: Real estate 1-4 family first mortgage 394,137 5,931 402,663 5,671 394,921 11,502 403,610 10,906 Real estate 1-4 family junior lien mortgage 121,615 2,336 128,281 2,489 122,713 4,776 129,349 4,747 Total consumer 515,752 8,267 530,944 8,160 517,634 16,278 532,959 15,653 Total impaired loans $ 523,463 8,303 537,715 8,339 524,487 16,355 540,410 15,835 Interest income: Cash basis of accounting $ 2,624 2,714 5,199 5,688 Other (1) 5,679 5,625 11,156 10,147 Total interest income $ 8,303 8,339 16,355 15,835 (1) Includes interest recognized on accruing TDRs and interest recognized related to the passage of time on certain impaired loans. See footnote 1 to the table of changes in the allowance for credit losses.
Troubled Debt Restructurings, Modification by Type	The following table summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. For those loans that may be modified more than once, the table reflects each modification that occurred during the period. Loans that both modify and resolve within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table. Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended June 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 1,501 1,501 — — — Total commercial — — 1,501 1,501 — — — Consumer: Real estate 1-4 family first mortgage 2,413 4,648 5,486 12,547 340 3.54 6,288 Real estate 1-4 family junior lien mortgage 538 1,124 1,362 3,024 414 5.28 1,416 Trial modifications (6) — — 2,280 2,280 — — — Total consumer 2,951 5,772 9,128 17,851 754 3.86 7,704 Total $ 2,951 5,772 10,629 19,352 754 3.86 % $ 7,704 Quarter ended June 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — — — — — — Total commercial — — — — — — — Consumer: Real estate 1-4 family first mortgage 5,170 5,066 6,488 16,724 1,093 3.27 9,890 Real estate 1-4 family junior lien mortgage 964 1,094 2,491 4,549 743 5.93 2,014 Trial modifications (6) — — 1,053 1,053 — — — Total consumer 6,134 6,160 10,032 22,326 1,836 3.72 11,904 Total $ 6,134 6,160 10,032 22,326 1,836 3.72 % $ 11,904 Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Six months ended June 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 3,884 3,884 — — — Total commercial — — 3,884 3,884 — — — Consumer: Real estate 1-4 family first mortgage 4,208 10,518 9,761 24,487 1,170 3.32 13,642 Real estate 1-4 family junior lien mortgage 697 2,275 2,842 5,814 932 5.29 2,658 Trial modifications (6) — — 1,984 1,984 — — — Total consumer 4,905 12,793 14,587 32,285 2,102 3.64 16,300 Total $ 4,905 12,793 18,471 36,169 2,102 3.64 % $ 16,300 Six months ended June 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 382 382 — — — Total commercial — — 382 382 — — — Consumer: Real estate 1-4 family first mortgage 12,996 10,852 15,466 39,314 2,948 3.18 22,856 Real estate 1-4 family junior lien mortgage 1,904 3,037 3,685 8,626 1,872 5.10 4,746 Trial modifications (6) — — (1,698 ) (1,698 ) — — — Total consumer 14,900 13,889 17,453 46,242 4,820 3.51 27,602 Total $ 14,900 13,889 17,835 46,624 4,820 3.51 % $ 27,602 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs with multiple types of concessions are presented only once in the table in the first category type based on the order presented. The reported amounts include loans remodified of $5.3 million and $6.2 million for the quarters ended June 30, 2015 and 2014 , and $8.0 million and $13.0 million for the first half of 2015 and 2014 , respectively. (2) Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate. (3) Other concessions include loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the interest rate. (4) Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $549 thousand and $1.3 million for the quarters ended June 30, 2015 and 2014 , and $1.2 million and $3.3 million for the first half of 2015 and 2014 respectively. (5) Reflects the effect of reduced interest rates to loans with a principal or interest rate reduction primary modification type. (6) Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period.
Troubled Debt Restructuring, Current Defaults	The table below summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We report these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment. Recorded investment of defaults Quarter ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate — — — 186 Total commercial — — — 186 Consumer: Real estate 1-4 family first mortgage 902 1,333 2,467 1,656 Real estate 1-4 family junior lien mortgage 165 1,246 431 1,491 Total consumer 1,067 2,579 2,898 3,147 Total $ 1,067 2,579 2,898 3,333

Fair Values of Assets and Lia16

Fair Values of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, Estimated for Financial Instruments Not Carried at Fair Value	The table below is a summary of fair value estimates by level for financial instruments. The carrying amounts in the following table are recorded in the balance sheet under the indicated captions. We have not included assets and liabilities that are not financial instruments in our disclosure, such as other assets and other liabilities. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. Carrying amount Estimated fair value (in thousands) Level 1 Level 2 Level 3 Total June 30, 2015 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 12,965,971 — — 13,714,649 13,714,649 Financial liabilities Line of credit with Bank (1) 706,199 — — 706,199 706,199 December 31, 2014 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 12,764,840 — — 13,721,645 13,721,645 Financial liabilities Line of credit with Bank (1) 496,692 — — 496,692 496,692 (1) Amounts consist of financial instruments in which carrying value approximates fair value. (2) Carrying amount reflects net discount and allowance for loan losses.

Common and Preferred Stock (Tab

Common and Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Summary of preferred stock and common stock	The following table provides details of common and preferred stock. June 30, 2015 and December 31, 2014 Liquidation Shares Shares Par value Carrying Preferred stock: Series A 6.375%, Cumulative, Perpetual Series A Preferred Stock $ 25 11,000,000 11,000,000 $ 0.01 110,000 Series B $85 Annual Dividend Per Share, Cumulative, Perpetual Series B Preferred Stock 1,000 1,000 667 0.01 7 Common stock (1) 100,000,000 12,900,000 0.01 129,000 Total 111,001,000 23,900,667 $ 239,007 (1) All common share and per share disclosures reflect the 20,000 -for-one stock split of the common shares effected in the form of a stock dividend of 19,999 common shares issued for each common share outstanding, paid on June 1, 2015.

Transactions with Related Par18

Transactions with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Transactions with Related Parties	The principal items related to transactions with affiliated parties included in the accompanying statement of income and balance sheet are described in the table and narrative below. Quarter ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Income statement data Interest income: Accretion and amortization of adjustments on loans $ 25,452 14,582 41,978 30,766 Interest on deposits 292 42 304 42 Total interest income 25,744 14,624 42,282 30,808 Pledge fees 318 — 318 — Interest expense 31 157 267 760 Loan servicing costs 8,704 7,582 17,524 15,557 Management fees 2,749 750 5,457 1,459 (in thousands) Jun 30, Dec 31, Balance sheet related data Loan acquisitions (year-to-date) (1) $ 1,700,667 2,566,372 Loan sales (year-to-date) (6,534 ) (23,496 ) Pledged loans (carrying value) (2) 3,326,925 — Foreclosed asset sales (year-to-date) (5,560 ) (14,971 ) Line of credit with Bank 706,199 496,692 Accounts receivable - affiliates, net 79,656 54,424 (1) Includes accrued interest, see Note 2 (Loans and Allowance for Credit Losses) for additional details. (2) The fair value of pledged loans was approximately $3.5 billion at June 30, 2015 .

Loans and Allowance for Credi19

Loans and Allowance for Credit Losses Textual (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest in loan purchases			$ 4,000,000	$ 2,600,000
Loans and Allowance for Credit Losses (Textual) [Abstract]
Unearned income, net deferred loan fees and unamortized discount and premium	$ 332,200,000		332,200,000		$ 347,100,000
Threshold for high value properties ($1 million or more)	1,000,000		$ 1,000,000
Past due period for loans to be placed on nonaccrual status			90 days
Trial modifications	15,500,000		$ 15,500,000		15,100,000
Impaired Loans, recorded investment	524,006,000		524,006,000		528,391,000
Loans remodified	5,300,000	$ 6,200,000	8,000,000	13,000,000
Principal forgiven due to modifications	549,000	$ 1,300,000	1,200,000	$ 3,300,000
Trial Modifications [Member] | Financing Receivable Nonaccruing [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Impaired Loans, recorded investment	6,200,000		6,200,000		6,800,000
Trial Modifications [Member] | Financing Receivable Accruing [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Impaired Loans, recorded investment	9,300,000		9,300,000		8,300,000
Home Affordable Modification Program [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Impaired Loans, recorded investment	7,700,000		7,700,000		7,700,000
Second Lien Modification Program [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Impaired Loans, recorded investment	803,000		803,000		1,300,000
Proprietary Program [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Impaired Loans, recorded investment	7,000,000		7,000,000		6,100,000
Purchased Credit-Impaired Loans [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
90 days and more past due and still accruing	4,000,000		$ 4,000,000		4,900,000
Residential Member] | Real estate 1-4 family junior lien mortgage [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Past due period for loans to be placed on nonaccrual status			120 days
Total commercial [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Notional amount of commitments to extend credit	344,800,000		$ 344,800,000		413,500,000
90 days and more past due and still accruing	0		0		0
Impaired Loans, recorded investment	11,742,000		$ 11,742,000		5,127,000
Consumer Portfolio Segment [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Past due period for loans to be placed on nonaccrual status			60 days
Impaired Loans, recorded investment	512,264,000		$ 512,264,000		523,264,000
Real estate 1-4 family first mortgage [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Impaired Loans, recorded investment	391,683,000		391,683,000		397,858,000
Real estate 1-4 family junior lien mortgage [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Impaired Loans, recorded investment	$ 120,581,000		$ 120,581,000		$ 125,406,000
Affiliated Entity [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Percentage of total assets that can be used as collateral			80.00%
Geographic Concentration Risk [Member] | Loans And Leases Receivable [Member] | California, Florida, New Jersey, Pennsylvania, North Carolina [Member]
Loans and Allowance for Credit Losses (Textual) [Abstract]
Concentration risk (percent)			44.00%

Loans and Allowance for Credi20

Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 13,129,852	$ 12,949,277
Total commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,899,930	3,179,665
Commercial and industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	54,294	58,559
Secured by real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,845,636	3,121,106
Total consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	10,229,922	9,769,612
Real estate 1-4 family first mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,668,854	8,023,294
Real estate 1-4 family junior lien mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 1,561,068	$ 1,746,318

Loans and Allowance for Credi21

Loans and Allowance for Credit Losses, Significant Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	$ 1,700,667	$ 878,972	$ 1,700,667	$ 878,972
Loan sales	(4,096)	(5,200)	(6,534)	(15,427)
Total commercial [Member]
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	0	0	0	0
Loan sales	(550)	(493)	(550)	(493)
Total consumer [Member]
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	1,700,667	878,972	1,700,667	878,972
Loan sales	$ (3,546)	$ (4,707)	$ (5,984)	$ (14,934)

Loans and Allowance for Credi22

Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 177,116	$ 212,889	$ 185,174	$ 244,269
Provision (reversal of provision) for credit losses	(4,201)	14,871	(891)	7,928
Interest income on certain impaired loans	(1,269)	(866)	(2,349)	(1,959)
Loan charge-offs	(12,031)	(19,478)	(26,361)	(47,051)
Loan recoveries	4,879	5,119	8,921	9,348
Net loan charge-offs	(7,152)	(14,359)	(17,440)	(37,703)
Balance, end of period	164,494	212,535	164,494	212,535
Components:
Allowance for loan losses					$ 163,881	$ 184,437	$ 211,809
Allowance for unfunded credit commitments					613		726
Allowance for credit losses	$ 177,116	$ 212,889	$ 185,174	$ 244,269	$ 164,494	185,174	$ 212,535
Net loan charge-offs (annualized) as a percentage of average total loans	0.23%	0.46%	0.28%	0.60%
Allowance for loan losses as a percentage of total loans					1.25%		1.66%
Allowance for credit losses as a percentage of total loans					1.25%		1.67%
Total commercial [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 19,679	$ 26,015	$ 19,476	$ 26,145
Provision (reversal of provision) for credit losses	(810)	(484)	(316)	(623)
Interest income on certain impaired loans	0	0	0	0
Loan charge-offs	(67)	(301)	(363)	(301)
Loan recoveries	4	0	9	9
Net loan charge-offs	(63)	(301)	(354)	(292)
Balance, end of period	18,806	25,230	18,806	25,230
Components:
Allowance for credit losses	19,679	26,015	19,476	26,145	$ 18,806	19,476	$ 25,230
Commercial and industrial [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	0	0	0	0
Loan recoveries	0	0	0	0
Secured by real estate [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(67)	(301)	(363)	(301)
Loan recoveries	4	0	9	9
Total consumer [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	157,437	186,874	165,698	218,124
Provision (reversal of provision) for credit losses	(3,391)	15,355	(575)	8,551
Interest income on certain impaired loans	(1,269)	(866)	(2,349)	(1,959)
Loan charge-offs	(11,964)	(19,177)	(25,998)	(46,750)
Loan recoveries	4,875	5,119	8,912	9,339
Net loan charge-offs	(7,089)	(14,058)	(17,086)	(37,411)
Balance, end of period	145,688	187,305	145,688	187,305
Components:
Allowance for credit losses	157,437	186,874	165,698	218,124	$ 145,688	$ 165,698	$ 187,305
Real estate 1-4 family first mortgage [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(4,896)	(6,885)	(10,353)	(18,648)
Loan recoveries	1,422	2,658	2,588	4,173
Real estate 1-4 family junior lien mortgage [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(7,068)	(12,292)	(15,645)	(28,102)
Loan recoveries	$ 3,453	$ 2,461	$ 6,324	$ 5,166

Loans and Allowance for Credi23

Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 177,116	$ 212,889	$ 185,174	$ 244,269
Provision (reversal of provision) for credit losses	(4,201)	14,871	(891)	7,928
Interest income on certain impaired loans	(1,269)	(866)	(2,349)	(1,959)
Loan charge-offs	(12,031)	(19,478)	(26,361)	(47,051)
Loan recoveries	4,879	5,119	8,921	9,348
Net loan charge-offs	(7,152)	(14,359)	(17,440)	(37,703)
Balance, end of period	164,494	212,535	164,494	212,535
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	19,679	26,015	19,476	26,145
Provision (reversal of provision) for credit losses	(810)	(484)	(316)	(623)
Interest income on certain impaired loans	0	0	0	0
Loan charge-offs	(67)	(301)	(363)	(301)
Loan recoveries	4	0	9	9
Net loan charge-offs	(63)	(301)	(354)	(292)
Balance, end of period	18,806	25,230	18,806	25,230
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	157,437	186,874	165,698	218,124
Provision (reversal of provision) for credit losses	(3,391)	15,355	(575)	8,551
Interest income on certain impaired loans	(1,269)	(866)	(2,349)	(1,959)
Loan charge-offs	(11,964)	(19,177)	(25,998)	(46,750)
Loan recoveries	4,875	5,119	8,912	9,339
Net loan charge-offs	(7,089)	(14,058)	(17,086)	(37,411)
Balance, end of period	$ 145,688	$ 187,305	$ 145,688	$ 187,305

Loans and Allowance for Credi24

Loans and Allowance for Credit Losses, Allowance for Credit Losses by Credit Impairment Methodology (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Allowance for credit losses
Collectively evaluated	$ 59,304		$ 71,534
Individually evaluated	105,190		113,640
Purchased credit-impaired (PCI)	0		0
Allowance for credit losses	164,494	$ 177,116	185,174	$ 212,535	$ 212,889	$ 244,269
Recorded investment in loans
Collectively evaluated	12,580,683		12,391,070
Individually evaluated	524,006		528,391
Purchased credit-impaired (PCI)	25,163		29,816
Total loans	13,129,852		12,949,277
Commercial Portfolio Segment [Member]
Allowance for credit losses
Collectively evaluated	17,023		17,535
Individually evaluated	1,783		1,941
Purchased credit-impaired (PCI)	0		0
Allowance for credit losses	18,806	19,679	19,476	25,230	26,015	26,145
Recorded investment in loans
Collectively evaluated	2,886,908		3,172,418
Individually evaluated	11,742		5,127
Purchased credit-impaired (PCI)	1,280		2,120
Total loans	2,899,930		3,179,665
Consumer Portfolio Segment [Member]
Allowance for credit losses
Collectively evaluated	42,281		53,999
Individually evaluated	103,407		111,699
Purchased credit-impaired (PCI)	0		0
Allowance for credit losses	145,688	$ 157,437	165,698	$ 187,305	$ 186,874	$ 218,124
Recorded investment in loans
Collectively evaluated	9,693,775		9,218,652
Individually evaluated	512,264		523,264
Purchased credit-impaired (PCI)	23,883		27,696
Total loans	$ 10,229,922		$ 9,769,612

Loans and Allowance for Credi25

Loans and Allowance for Credit Losses, Loans by Credit Quality Indicator, Commercial (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Loans and Leases Receivable Disclosure [Abstract]
Total loans	$ 13,129,852	$ 12,949,277
Total commercial [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,899,930	3,179,665
Total commercial [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,844,901	3,158,455
Total commercial [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	55,029	21,210
Commercial and industrial [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	54,294	58,559
Commercial and industrial [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	54,095	58,559
Commercial and industrial [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	199	0
Secured by real estate [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,845,636	3,121,106
Secured by real estate [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,790,806	3,099,896
Secured by real estate [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	$ 54,830	$ 21,210

Loans and Allowance for Credi26

Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
By delinquency status:
Nonaccrual loans	$ 308,053	$ 321,448
Total loans	13,129,852	12,949,277
Total commercial [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	2,882,621	3,171,550
30-89 DPD and still accruing	6,905	3,901
90 days and more past due and still accruing	0	0
Nonaccrual loans	10,404	4,214
Total loans	2,899,930	3,179,665
Commercial and industrial [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	54,294	58,559
30-89 DPD and still accruing	0	0
90 days and more past due and still accruing	0	0
Nonaccrual loans	0	0
Total loans	54,294	58,559
Secured by real estate [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	2,828,327	3,112,991
30-89 DPD and still accruing	6,905	3,901
90 days and more past due and still accruing	0	0
Nonaccrual loans	10,404	4,214
Total loans	$ 2,845,636	$ 3,121,106

Loans and Allowance for Credi27

Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
By delinquency status:
Total loans	$ 13,129,852	$ 12,949,277
Total consumer [Member]
By delinquency status:
Current-29 DPD	9,981,203	9,489,828
30-59 DPD	57,000	66,630
60-89 DPD	30,987	37,550
90-119 DPD	17,634	20,905
120-179 DPD	27,674	29,903
180 or more DPD	129,457	138,415
Remaining PCI accounting adjustments	(14,033)	(13,619)
Total loans	10,229,922	9,769,612
Real estate 1-4 family first mortgage [Member]
By delinquency status:
Current-29 DPD	8,485,742	7,819,624
30-59 DPD	37,167	43,991
60-89 DPD	19,392	24,190
90-119 DPD	10,334	12,856
120-179 DPD	20,789	19,552
180 or more DPD	106,814	114,508
Remaining PCI accounting adjustments	(11,384)	(11,427)
Total loans	8,668,854	8,023,294
Real estate 1-4 family junior lien mortgage [Member]
By delinquency status:
Current-29 DPD	1,495,461	1,670,204
30-59 DPD	19,833	22,639
60-89 DPD	11,595	13,360
90-119 DPD	7,300	8,049
120-179 DPD	6,885	10,351
180 or more DPD	22,643	23,907
Remaining PCI accounting adjustments	(2,649)	(2,192)
Total loans	$ 1,561,068	$ 1,746,318

Loans and Allowance for Credi28

Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
By updated FICO:
Total loans	$ 13,129,852	$ 12,949,277
Total consumer [Member]
By updated FICO:
Less than 600	498,516	559,606
600-639	349,351	384,818
640-679	646,514	663,380
680-719	1,149,545	1,270,270
720-759	1,783,184	1,780,176
760-799	3,868,091	3,332,198
800 and greater	1,842,096	1,683,972
No FICO available	106,658	108,811
Remaining PCI accounting adjustments	(14,033)	(13,619)
Total loans	10,229,922	9,769,612
Real estate 1-4 family first mortgage [Member]
By updated FICO:
Less than 600	320,123	352,071
600-639	230,357	261,911
640-679	454,565	462,643
680-719	884,827	974,778
720-759	1,476,474	1,425,335
760-799	3,550,966	2,970,256
800 and greater	1,674,878	1,498,996
No FICO available	88,048	88,731
Remaining PCI accounting adjustments	(11,384)	(11,427)
Total loans	8,668,854	8,023,294
Real estate 1-4 family junior lien mortgage [Member]
By updated FICO:
Less than 600	178,393	207,535
600-639	118,994	122,907
640-679	191,949	200,737
680-719	264,718	295,492
720-759	306,710	354,841
760-799	317,125	361,942
800 and greater	167,218	184,976
No FICO available	18,610	20,080
Remaining PCI accounting adjustments	(2,649)	(2,192)
Total loans	$ 1,561,068	$ 1,746,318

Loans and Allowance for Credi29

Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
By LTV/CLTV:
Total loans	$ 13,129,852	$ 12,949,277
Total consumer [Member]
By LTV/CLTV:
0-60%	4,384,310	4,477,787
60.01-80%	4,053,409	3,404,147
80.01-100%	1,204,226	1,254,675
100.01-120%	375,285	413,672
Greater than 120%	191,994	191,974
No LTV/CLTV available	34,731	40,976
Remaining PCI accounting adjustments	(14,033)	(13,619)
Total loans	10,229,922	9,769,612
Real estate 1-4 family first mortgage [Member]
By LTV/CLTV:
0-60%	3,962,209	4,007,543
60.01-80%	3,667,991	2,958,255
80.01-100%	792,452	801,111
100.01-120%	149,394	164,249
Greater than 120%	75,861	64,619
No LTV/CLTV available	32,331	38,944
Remaining PCI accounting adjustments	(11,384)	(11,427)
Total loans	8,668,854	8,023,294
Real estate 1-4 family junior lien mortgage [Member]
By LTV/CLTV:
0-60%	422,101	470,244
60.01-80%	385,418	445,892
80.01-100%	411,774	453,564
100.01-120%	225,891	249,423
Greater than 120%	116,133	127,355
No LTV/CLTV available	2,400	2,032
Remaining PCI accounting adjustments	(2,649)	(2,192)
Total loans	$ 1,561,068	$ 1,746,318

Loans and Allowance for Credi30

Loans and Allowance for Credit Losses, Nonaccrual (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Nonaccrual Loans [Abstract]
Nonaccrual loans	$ 308,053	$ 321,448
Total commercial [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	10,404	4,214
Commercial and industrial [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	0	0
Secured by real estate [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	10,404	4,214
Total consumer [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	297,649	317,234
Real estate 1-4 family first mortgage [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	224,674	236,859
Real estate 1-4 family junior lien mortgage [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	$ 72,975	$ 80,375

Loans and Allowance for Credi31

Loans and Allowance for Credit Losses, 90 Days Past Due but Still Accruing (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	$ 9,111	$ 10,260
Total commercial [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Total commercial [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Commercial and industrial [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Commercial and industrial [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Secured by real estate [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Secured by real estate [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Total consumer [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	9,111	10,260
Real estate 1-4 family first mortgage [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	5,395	6,020
Real estate 1-4 family junior lien mortgage [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	$ 3,716	$ 4,240

Loans and Allowance for Credi32

Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Impaired Loans [Abstract]
Unpaid principal balance	$ 621,542	$ 647,657
Impaired Loans, recorded investment	524,006	528,391
Impaired Loans with related allowance for credit losses, recorded investment	247,249	395,453
Related allowance for credit losses	105,190	113,640
Total commercial [Member]
Impaired Loans [Abstract]
Unpaid principal balance	13,954	7,391
Impaired Loans, recorded investment	11,742	5,127
Impaired Loans with related allowance for credit losses, recorded investment	11,742	5,127
Related allowance for credit losses	1,783	1,941
Commercial and industrial [Member]
Impaired Loans [Abstract]
Unpaid principal balance	0	0
Impaired Loans, recorded investment	0	0
Impaired Loans with related allowance for credit losses, recorded investment	0	0
Related allowance for credit losses	0	0
Secured by real estate [Member]
Impaired Loans [Abstract]
Unpaid principal balance	13,954	7,391
Impaired Loans, recorded investment	11,742	5,127
Impaired Loans with related allowance for credit losses, recorded investment	11,742	5,127
Related allowance for credit losses	1,783	1,941
Total consumer [Member]
Impaired Loans [Abstract]
Unpaid principal balance	607,588	640,266
Impaired Loans, recorded investment	512,264	523,264
Impaired Loans with related allowance for credit losses, recorded investment	235,507	390,326
Related allowance for credit losses	103,407	111,699
Real estate 1-4 family first mortgage [Member]
Impaired Loans [Abstract]
Unpaid principal balance	472,761	483,084
Impaired Loans, recorded investment	391,683	397,858
Impaired Loans with related allowance for credit losses, recorded investment	153,614	283,549
Related allowance for credit losses	63,933	68,589
Real estate 1-4 family junior lien mortgage [Member]
Impaired Loans [Abstract]
Unpaid principal balance	134,827	157,182
Impaired Loans, recorded investment	120,581	125,406
Impaired Loans with related allowance for credit losses, recorded investment	81,893	106,777
Related allowance for credit losses	$ 39,474	$ 43,110

Loans and Allowance for Credi33

Loans and Allowance for Credit Losses, Impaired Loans, Average Recorded Investment and Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	$ 523,463	$ 537,715	$ 524,487	$ 540,410
Recognized interest income	8,303	8,339	16,355	15,835
Interest income:
Cash basis of accounting	2,624	2,714	5,199	5,688
Other	5,679	5,625	11,156	10,147
Total commercial [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	7,711	6,771	6,853	7,451
Recognized interest income	36	179	77	182
Commercial and industrial [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	0	0	0	0
Recognized interest income	0	0	0	0
Secured by real estate [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	7,711	6,771	6,853	7,451
Recognized interest income	36	179	77	182
Total consumer [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	515,752	530,944	517,634	532,959
Recognized interest income	8,267	8,160	16,278	15,653
Real estate 1-4 family first mortgage [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	394,137	402,663	394,921	403,610
Recognized interest income	5,931	5,671	11,502	10,906
Real estate 1-4 family junior lien mortgage [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	121,615	128,281	122,713	129,349
Recognized interest income	$ 2,336	$ 2,489	$ 4,776	$ 4,747

Loans and Allowance for Credi34

Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Modifications [Line Items]
Loans remodified	$ 5,300	$ 6,200	$ 8,000	$ 13,000
Primary modification type
Principal	2,951	6,134	4,905	14,900
Interest rate reduction	5,772	6,160	12,793	13,889
Other concessions	10,629	10,032	18,471	17,835
Total	19,352	22,326	36,169	46,624
Financial effects of modifications
Charge-offs	$ 754	$ 1,836	$ 2,102	$ 4,820
Weighted average interest rate reduction	3.86%	3.72%	3.64%	3.51%
Recorded investment related to interest rate reduction	$ 7,704	$ 11,904	$ 16,300	$ 27,602
Financing Receivable Modifications Principal Forgiven	549	1,300	1,200	3,300
Total commercial [Member]
Primary modification type
Principal	0	0	0	0
Interest rate reduction	0	0	0	0
Other concessions	1,501	0	3,884	382
Total	1,501	0	3,884	382
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0	$ 0
Commercial and industrial [Member]
Primary modification type
Principal	0	0	0	0
Interest rate reduction	0	0	0	0
Other concessions	0	0	0	0
Total	0	0	0	0
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0
Secured by real estate [Member]
Primary modification type
Principal	0	0	0	$ 0
Interest rate reduction	0	0	0	0
Other concessions	1,501	0	3,884	382
Total	1,501	0	3,884	382
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0	$ 0
Total consumer [Member]
Primary modification type
Principal	2,951	6,134	4,905	14,900
Interest rate reduction	5,772	6,160	12,793	13,889
Other concessions	9,128	10,032	14,587	17,453
Total	17,851	22,326	32,285	46,242
Financial effects of modifications
Charge-offs	$ 754	$ 1,836	$ 2,102	$ 4,820
Weighted average interest rate reduction	3.86%	3.72%	3.64%	3.51%
Recorded investment related to interest rate reduction	$ 7,704	$ 11,904	$ 16,300	$ 27,602
Real estate 1-4 family first mortgage [Member]
Primary modification type
Principal	2,413	5,170	4,208	12,996
Interest rate reduction	4,648	5,066	10,518	10,852
Other concessions	5,486	6,488	9,761	15,466
Total	12,547	16,724	24,487	39,314
Financial effects of modifications
Charge-offs	$ 340	$ 1,093	$ 1,170	$ 2,948
Weighted average interest rate reduction	3.54%	3.27%	3.32%	3.18%
Recorded investment related to interest rate reduction	$ 6,288	$ 9,890	$ 13,642	$ 22,856
Real estate 1-4 family junior lien mortgage [Member]
Primary modification type
Principal	538	964	697	1,904
Interest rate reduction	1,124	1,094	2,275	3,037
Other concessions	1,362	2,491	2,842	3,685
Total	3,024	4,549	5,814	8,626
Financial effects of modifications
Charge-offs	$ 414	$ 743	$ 932	$ 1,872
Weighted average interest rate reduction	5.28%	5.93%	5.29%	5.10%
Recorded investment related to interest rate reduction	$ 1,416	$ 2,014	$ 2,658	$ 4,746
Trial Modifications [Member]
Primary modification type
Principal	0	0	0	0
Interest rate reduction	0	0	0	0
Other concessions	2,280	1,053	1,984	(1,698)
Total	2,280	1,053	1,984	(1,698)
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0	$ 0

Loans and Allowance for Credi35

Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	$ 1,067	$ 2,579	$ 2,898	$ 3,333
Total commercial [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	0	0	186
Commercial and industrial [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	0	0	0
Secured by real estate [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	0	0	186
Total consumer [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	1,067	2,579	2,898	3,147
Real estate 1-4 family first mortgage [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	902	1,333	2,467	1,656
Real estate 1-4 family junior lien mortgage [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	$ 165	$ 1,246	$ 431	$ 1,491

Fair Value, Estimates for Finan

Fair Value, Estimates for Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage of assets measured on fair value nonrecurring basis (less than 1%)	1.00%	1.00%
Financial assets
Cash and cash equivalents	$ 0	$ 0	$ 0	$ 0
Loans, net	12,965,971	12,764,840
Carrying amount [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	12,965,971	12,764,840
Financial liabilities
Line of credit with Bank	706,199	496,692
Estimated fair value [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	13,714,649	13,721,645
Financial liabilities
Line of credit with Bank	706,199	496,692
Estimated fair value [Member] | Level 1 [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	0	0
Financial liabilities
Line of credit with Bank	0	0
Estimated fair value [Member] | Level 2 [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	0	0
Financial liabilities
Line of credit with Bank	0	0
Estimated fair value [Member] | Level 3 [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	13,714,649	13,721,645
Financial liabilities
Line of credit with Bank	$ 706,199	$ 496,692

Common and Preferred Stock (Det

Common and Preferred Stock (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Shares authorized	111,001,000	111,001,000
Shares, Issued	23,900,667	23,900,667
Shares, Outstanding	23,900,667	23,900,667
Carrying value	$ 239,007	$ 239,007
Common stock (1)
Shares authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	12,900,000	12,900,000
Par value (in dollars per share)	$ 0.01	$ 0.01
Carrying value	$ 129,000	$ 129,000
Common Stock, Shares, Outstanding	12,900,000	12,900,000
Common Stock [Member]
Class of Stock [Line Items]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common stock (1)
Common shares issued for each common share outstanding	19,999
Series A Preferred Stock [Member]
Preferred stock:
Dividend rate, percentage	6.375%	6.375%
Liquidation preference per share (in dollars per share)	$ 25	$ 25
Shares authorized	11,000,000	11,000,000
Preferred Stock, Shares Issued	11,000,000	11,000,000
Shares outstanding	11,000,000	11,000,000
Par value per share (in dollars per share)	$ 0.01	$ 0.01
Carrying value	$ 110,000	$ 110,000
Series B Preferred Stock [Member]
Preferred stock:
Dividend rate (in dollars per share)	$ 85	$ 85
Liquidation preference per share (in dollars per share)	$ 1,000	$ 1,000
Shares authorized	1,000	1,000
Preferred Stock, Shares Issued	667	667
Shares outstanding	667	667
Par value per share (in dollars per share)	$ 0.01	$ 0.01
Carrying value	$ 7	$ 7

Transactions with Related Par38

Transactions with Related Parties Textual (Details) - Jun. 30, 2015 - USD ($)	Total
Related Party Transaction [Line Items]
Pledged loans (fair value)	$ 3,500,000,000
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Percentage of total assets that can be used as collateral	80.00%
Affiliated Entity [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity	$ 1,200,000,000
Affiliated Entity [Member] | Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member]
Related Party Transaction [Line Items]
Variable interest rate	0.125%

Transactions with Related Par39

Transactions with Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Interest income:
Total interest income	$ 168,854	$ 171,163	$ 334,845	$ 347,728
Interest expense	31	157	267	760
Loan servicing costs	8,713	7,593	17,542	15,580
Management fees	2,749	750	5,457	1,459
Balance sheet related data
Loan acquisitions (year-to-date)	1,700,667	878,972	1,700,667	878,972
Loan sales (year-to-date)	(4,096)	(5,200)	(6,534)	(15,427)
Line of credit with Bank	706,199		706,199		$ 496,692
Accounts receivable - affiliates, net	79,656		79,656		54,424
Related party [Member]
Interest income:
Accretion and amortization of adjustments on loans	25,452	14,582	41,978	30,766
Interest on deposits	292	42	304	42
Total interest income	25,744	14,624	42,282	30,808
Pledge fees	318	0	318	0
Interest expense	31	157	267	760
Loan servicing costs	8,704	7,582	17,524	15,557
Management fees	2,749	$ 750	5,457	$ 1,459
Balance sheet related data
Loan acquisitions (year-to-date)			1,700,667		2,566,372
Loan sales (year-to-date)			(6,534)		(23,496)
Pledged loans (carrying value)	3,326,925		3,326,925		0
Foreclosed asset sales (year-to-date)			(5,560)		(14,971)
Line of credit with Bank	706,199		706,199		496,692
Accounts receivable - affiliates, net	$ 79,656		$ 79,656		$ 54,424