Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 02, 2019 | |
Document Information [Line Items] | ||
Document Transition Report | false | |
Document Quarterly Report | true | |
Entity Address, Address Line One | 14817 Oak Lane | |
Entity Address, City or Town | Miami Lakes | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33016 | |
Entity Registrant Name | BankUnited, Inc. | |
Entity Central Index Key | 0001504008 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Entity File Number | 001-35039 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock Shares Outstanding | 95,067,938 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Shell Company | DE | |
Entity Tax Identification Number | 27-0162450 | |
City Area Code | 305 | |
Local Phone Number | 569-2000 | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock, $0.01 Par Value | |
Trading Symbol | BKU | |
Security Exchange Name | NYSE |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and due from banks: | ||
Non-interest bearing | $ 10,152 | $ 9,392 |
Interest bearing | 432,681 | 372,681 |
Cash and cash equivalents | 442,833 | 382,073 |
Investment securities (including securities recorded at fair value of $8,128,708 and $8,156,878) | 8,138,708 | 8,166,878 |
Non-marketable equity securities | 289,789 | 267,052 |
Loans held for sale | 224,759 | 36,992 |
Loans (including covered loans of $201,376 at December 31, 2018) | 22,591,849 | 21,977,008 |
Allowance for loan and lease losses | (112,141) | (109,931) |
Loans, net | 22,479,708 | 21,867,077 |
Bank owned life insurance | 274,603 | 263,340 |
Equipment under operating lease, net | 707,680 | 702,354 |
Goodwill and other intangible assets | 77,696 | 77,718 |
Other assets | 456,489 | 400,842 |
Total assets | 33,092,265 | 32,164,326 |
Demand deposits: | ||
Non-interest bearing | 4,099,636 | 3,621,254 |
Interest bearing | 1,831,441 | 1,771,465 |
Savings and money market | 10,910,607 | 11,261,746 |
Time | 7,080,716 | 6,819,758 |
Total deposits | 23,922,400 | 23,474,223 |
Federal funds purchased | 99,000 | 175,000 |
Federal Home Loan Bank advances | 5,331,000 | 4,796,000 |
Notes and other borrowings | 403,661 | 402,749 |
Other liabilities | 468,294 | 392,521 |
Total liabilities | 30,224,355 | 29,240,493 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Common stock, par value $0.01 per share, 400,000,000 shares authorized; 95,315,633 and 99,141,374 shares issued and outstanding | 953 | 991 |
Paid-in capital | 1,080,966 | 1,220,147 |
Retained earnings | 1,803,360 | 1,697,822 |
Accumulated other comprehensive income (loss) | (17,369) | 4,873 |
Total stockholders' equity | 2,867,910 | 2,923,833 |
Total liabilities and stockholders' equity | $ 33,092,265 | $ 32,164,326 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Investment securities recorded at fair value | $ 8,128,708 | $ 8,156,878 |
ASSETS | ||
Covered loans net of premiums, discounts and deferred fees and costs | $ 201,376 | |
Stockholders' equity: | ||
Common stock, par value (in Dollars per Share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in Shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in Shares) | 95,315,633 | 99,141,374 |
Common stock, shares outstanding (in Shares) | 95,315,633 | 99,141,374 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest income: | ||||
Loans | $ 249,364 | $ 288,264 | $ 489,996 | $ 562,264 |
Investment securities | 72,796 | 56,092 | 149,141 | 106,077 |
Other | 5,069 | 4,499 | 9,921 | 8,290 |
Total interest income | 327,229 | 348,855 | 649,058 | 676,631 |
Interest expense: | ||||
Deposits | 99,987 | 65,298 | 197,408 | 121,659 |
Borrowings | 36,359 | 28,294 | 69,866 | 51,900 |
Total interest expense | 136,346 | 93,592 | 267,274 | 173,559 |
Net interest income before provision for loan losses | 190,883 | 255,263 | 381,784 | 503,072 |
Provision for loan losses | (2,747) | 8,995 | 7,534 | 12,142 |
Net interest income after provision for loan losses | 193,630 | 246,268 | 374,250 | 490,930 |
Non-interest income: | ||||
Income from resolution of covered assets, net | 0 | 4,238 | 0 | 7,555 |
Net loss on FDIC indemnification | 0 | (1,400) | 0 | (5,015) |
Deposit service charges and fees | 4,290 | 3,510 | 8,120 | 6,997 |
Gain on sale of loans, net | 2,121 | 768 | 5,057 | 4,269 |
Gain on investment securities, net | 4,116 | 2,142 | 9,901 | 2,506 |
Lease financing | 17,005 | 17,492 | 34,191 | 31,594 |
Other non-interest income | 7,805 | 5,223 | 14,323 | 12,053 |
Total non-interest income | 35,337 | 31,973 | 71,592 | 59,959 |
Non-interest expense: | ||||
Employee compensation and benefits | 57,251 | 65,537 | 122,484 | 132,573 |
Occupancy and equipment | 13,991 | 14,241 | 27,157 | 28,544 |
Amortization of FDIC indemnification asset | 0 | 44,250 | 0 | 84,597 |
Deposit insurance expense | 5,027 | 4,623 | 9,068 | 9,435 |
Professional fees | 6,937 | 2,657 | 14,808 | 5,532 |
Technology and telecommunications | 12,013 | 8,644 | 23,181 | 16,858 |
Depreciation of equipment under operating lease | 11,489 | 9,476 | 23,301 | 18,792 |
Other non-interest expense | 13,377 | 11,819 | 26,776 | 26,733 |
Total non-interest expense | 120,085 | 161,247 | 246,775 | 323,064 |
Income before income taxes | 108,882 | 116,994 | 199,067 | 227,825 |
Provision for income taxes | 27,431 | 27,094 | 51,644 | 52,690 |
Net income | $ 81,451 | $ 89,900 | $ 147,423 | $ 175,135 |
Earnings per common share, basic | $ 0.81 | $ 0.82 | $ 1.46 | $ 1.60 |
Earnings per common share, diluted | $ 0.81 | $ 0.82 | $ 1.45 | $ 1.59 |
CONSOLIDATED STATEMENTS OF IN_2
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Provision for loan losses | $ (8,995) | $ (12,142) |
Non-interest income: | ||
Gain on sale of loans, net | 768 | 4,269 |
Covered [Member] | ||
Provision for loan losses | (261) | 273 |
Non-interest income: | ||
Gain on sale of loans, net | $ (2,002) | $ (298) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 81,451 | $ 89,900 | $ 147,423 | $ 175,135 |
Unrealized gains on investment securities available for sale: | ||||
Net unrealized holding gain (loss) arising during the period | 23,326 | (13,106) | 44,943 | (40,430) |
Reclassification adjustment for net securities gains realized in income | (2,877) | (1,875) | (6,050) | (2,592) |
Net change in unrealized gain on securities available for sale | 20,449 | (14,981) | 38,893 | (43,022) |
Unrealized losses on derivative instruments: | ||||
Net unrealized holding gain (loss) arising during the period | (37,218) | 9,846 | (57,893) | 29,639 |
Reclassification adjustment for net (gains) losses realized in income | (1,241) | (535) | (3,242) | 155 |
Net change in unrealized loss on derivative instruments | (38,459) | 9,311 | (61,135) | 29,794 |
Other comprehensive loss | (18,010) | (5,670) | (22,242) | (13,228) |
Comprehensive income | $ 63,441 | $ 84,230 | $ 125,181 | $ 161,907 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 147,423 | $ 175,135 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization and accretion, net | (22,452) | (69,157) |
Provision for loan losses | 7,534 | 12,142 |
Income from resolution of covered assets, net | 0 | (7,555) |
Net loss on FDIC indemnification | 0 | 5,015 |
Gain on sale of loans, net | (5,057) | (4,269) |
Gain on investment securities, net | (9,901) | (2,506) |
Equity based compensation | 11,251 | 12,272 |
Depreciation and amortization | 35,555 | 31,391 |
Deferred income taxes | 10,813 | 24,074 |
Proceeds from sale of loans held for sale | 209,854 | 86,118 |
Loans originated for sale, net of repayments | (51,024) | (73,633) |
Other: | ||
Decrease in other assets | 31,897 | 15,625 |
Increase (decrease) in other liabilities | (128,097) | 25,242 |
Net cash provided by operating activities | 237,796 | 229,894 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||
Purchase of investment securities | (2,160,715) | (1,730,173) |
Proceeds from repayments and calls of investment securities | 647,214 | 691,220 |
Proceeds from sale of investment securities | 1,626,250 | 836,317 |
Purchase of non-marketable equity securities | (196,137) | (166,813) |
Proceeds from redemption of non-marketable equity securities | 173,400 | 154,063 |
Purchases of loans | (894,235) | (604,278) |
Loan originations, repayments and resolutions, net | (51,014) | 152,848 |
Proceeds from sale of loans, net | 9,560 | 115,560 |
Proceeds from sale of equipment under operating lease | 8,986 | 49,892 |
Acquisition of equipment under operating lease | (37,122) | (56,132) |
Other investing activities | (24,950) | (16,404) |
Net cash used in investing activities | (898,763) | (573,900) |
Cash flows from financing activities: | ||
Net increase in deposits | 448,177 | 299,471 |
Net decrease in federal funds purchased | (76,000) | 0 |
Additions to Federal Home Loan Bank advances | 2,456,000 | 2,201,000 |
Repayments of Federal Home Loan Bank advances | (1,921,000) | (1,901,000) |
Dividends paid | (42,937) | (45,996) |
Repurchase of common stock | (142,065) | (54,399) |
Other financing activities | (448) | 29,604 |
Net cash provided by financing activities | 721,727 | 528,680 |
Net increase in cash and cash equivalents | 60,760 | 184,674 |
Cash and cash equivalents, beginning of period | 382,073 | 194,582 |
Cash and cash equivalents, end of period | 442,833 | 379,256 |
Supplemental Cash Flow Information [Abstract] | ||
Interest paid | 258,561 | 171,379 |
Income taxes (refunded) paid, net | (4,350) | 18,677 |
Supplemental schedule of non-cash investing and financing activities: | ||
Transfers from loans to other real estate owned and other repossessed assets | 2,817 | 7,574 |
Transfers from loans to loans held for sale | 342,310 | 22,094 |
Dividends declared, not paid | 20,621 | 22,916 |
Noncash or Part Noncash Acquisition, Investments Acquired | $ 21,396 | $ 272,500 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Common Stock, Dividends, Per Share, Declared | $ 0.42 | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,902 | $ (8,902) | $ 8,902 | ||
Balance (in Shares) at Dec. 31, 2017 | 106,848,185 | ||||
Balance at Dec. 31, 2017 | 3,026,062 | $ 1,068 | $ 1,498,227 | 1,471,781 | 54,986 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 161,907 | 175,135 | (13,228) | ||
Dividends ($0.42 per common share) | (45,857) | (45,857) | |||
Equity based compensation (in Shares) | 654,420 | ||||
Equity based compensation | 10,342 | $ 6 | 10,336 | ||
Forfeiture of unvested shares (in Shares) | (207,720) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | $ (6,349) | $ (2) | (6,347) | ||
Exercise of stock options (in Shares) | 291,689 | 291,689 | |||
Exercise of stock options | $ 7,727 | $ 3 | 7,724 | ||
Stock Repurchased During Period, Shares | (1,345,458) | ||||
Stock Repurchased During Period, Value | (54,399) | $ (13) | (54,386) | ||
Balance (in Shares) at Jun. 30, 2018 | 106,241,116 | ||||
Balance at Jun. 30, 2018 | $ 3,099,433 | $ 1,062 | 1,455,554 | 1,592,157 | 50,660 |
Common Stock, Dividends, Per Share, Declared | $ 0.21 | ||||
Balance (in Shares) at Mar. 31, 2018 | 106,160,751 | ||||
Balance at Mar. 31, 2018 | $ 3,032,672 | $ 1,061 | 1,450,107 | 1,525,174 | 56,330 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 84,230 | 89,900 | (5,670) | ||
Dividends ($0.42 per common share) | (22,917) | (22,917) | |||
Equity based compensation (in Shares) | 14,380 | ||||
Equity based compensation | 4,958 | $ 0 | 4,958 | 0 | |
Forfeiture of unvested shares (in Shares) | (40,186) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (378) | $ 0 | (378) | ||
Exercise of stock options (in Shares) | 251,189 | ||||
Exercise of stock options | 6,635 | $ 2 | 6,633 | 0 | |
Stock Repurchased During Period, Shares | (145,018) | ||||
Stock Repurchased During Period, Value | (5,767) | $ (1) | (5,766) | 0 | |
Balance (in Shares) at Jun. 30, 2018 | 106,241,116 | ||||
Balance at Jun. 30, 2018 | $ 3,099,433 | $ 1,062 | 1,455,554 | 1,592,157 | 50,660 |
Common Stock, Dividends, Per Share, Declared | $ 0.42 | ||||
Balance (in Shares) at Dec. 31, 2018 | 99,141,374 | ||||
Balance at Dec. 31, 2018 | $ 2,923,833 | $ 991 | 1,220,147 | 1,697,822 | 4,873 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 125,181 | 147,423 | (22,242) | ||
Dividends ($0.42 per common share) | (41,885) | (41,885) | |||
Equity based compensation (in Shares) | 582,353 | ||||
Equity based compensation | 9,056 | $ 6 | 9,050 | ||
Forfeiture of unvested shares (in Shares) | (286,927) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | $ (6,254) | $ (3) | (6,251) | ||
Exercise of stock options (in Shares) | 3,910 | 3,910 | |||
Exercise of stock options | $ 44 | $ 0 | 44 | ||
Stock Repurchased During Period, Shares | (4,125,077) | ||||
Stock Repurchased During Period, Value | (142,065) | $ (41) | (142,024) | ||
Balance (in Shares) at Jun. 30, 2019 | 95,315,633 | ||||
Balance at Jun. 30, 2019 | $ 2,867,910 | $ 953 | 1,080,966 | 1,803,360 | (17,369) |
Common Stock, Dividends, Per Share, Declared | $ 0.21 | ||||
Balance (in Shares) at Mar. 31, 2019 | 98,404,303 | ||||
Balance at Mar. 31, 2019 | $ 2,923,390 | $ 984 | 1,179,235 | 1,742,530 | 641 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Comprehensive income | 63,441 | 81,451 | (18,010) | ||
Dividends ($0.42 per common share) | (20,621) | (20,621) | |||
Equity based compensation (in Shares) | 18,383 | ||||
Equity based compensation | 3,967 | $ 0 | 3,967 | 0 | |
Forfeiture of unvested shares (in Shares) | (95,061) | ||||
Forfeiture of unvested shares and shares surrendered for tax withholding obligations | (176) | $ (1) | (175) | 0 | |
Stock Repurchased During Period, Shares | (3,011,992) | ||||
Stock Repurchased During Period, Value | (102,091) | $ (30) | (102,061) | 0 | |
Balance (in Shares) at Jun. 30, 2019 | 95,315,633 | ||||
Balance at Jun. 30, 2019 | $ 2,867,910 | $ 953 | $ 1,080,966 | $ 1,803,360 | $ (17,369) |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Basis of Presentation and Summary of Significant Accounting Policies BankUnited, Inc. is a national bank holding company with one wholly-owned subsidiary, BankUnited, collectively, the Company. BankUnited, a national banking association headquartered in Miami Lakes, Florida, provides a full range of banking and related services to individual and corporate customers through 80 banking centers located in 14 Florida counties and 5 banking centers located in the New York metropolitan area at June 30, 2019 . The Bank also offers certain commercial lending and deposit products through national platforms. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, these do not include all of the information and footnotes required for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP and should be read in conjunction with the Company’s consolidated financial statements and the notes thereto appearing in BKU’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected in future periods. Certain amounts presented for prior periods have been reclassified to conform to the current period presentation. Accounting Estimates In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and disclosures of contingent assets and liabilities. Actual results could differ significantly from these estimates. Significant estimates include the ALLL and the fair values of investment securities and other financial instruments. New Accounting Pronouncements Adopted During the Six Months Ended June 30, 2019 ASU No. 2016-02, Leases (Topic 842). The amendments in this ASU, along with subsequent ASUs issued to clarify certain provisions of Topic 842, require a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for leases with terms longer than one year. Accounting applied by lessors was largely unchanged by this ASU. The ASU also requires both qualitative and quantitative disclosures that provide additional information about the amounts recorded in the consolidated financial statements. The amendments in this ASU were effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2018. The most significant impact of adoption was the recognition, as lessee, of new right-of-use assets and lease liabilities on the Consolidated Balance Sheet for real estate leases classified as operating leases. Under a package of practical expedients that the Company elected, as lessee and lessor, the Company did not have to (i) re-assess whether expired or existing contracts contain leases, (ii) re-assess the classification of expired or existing leases, (iii) re-evaluate initial direct costs for existing leases or (iv) separate lease components of certain contracts from non-lease components. The Company also elected the transition method that allows entities the option of applying the provisions of the ASU at the effective date without adjusting the comparative periods presented. The Company adopted this ASU in the first quarter of 2019 using the modified retrospective transition method. The Company recognized a lease liability and related right of use asset of approximately $104 million and $95 million , respectively, upon adoption on January 1, 2019. ASU No. 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes . The ASU added the OIS rate based on SOFR as a benchmark interest rate for hedge accounting purposes. The ASU was effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2018. The Company adopted this ASU in the first quarter of 2019 with no impact at adoption to its consolidated financial position, results of operations, or cash flows. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments. This ASU, along with subsequent ASUs issued to clarify certain of its provisions, introduces new guidance which makes substantive changes to the accounting for credit losses. The ASU introduces the CECL model which applies to financial assets subject to credit losses and measured at amortized cost, as well as certain off-balance sheet credit exposures. This includes loans, loan commitments, standby letters of credit, net investments in leases recognized by a lessor and HTM debt securities. The CECL model requires an entity to estimate credit losses expected over the life of an exposure, considering information about historical events, current conditions and reasonable and supportable forecasts, and is generally expected to result in earlier recognition of credit losses. The ASU also modifies certain provisions of the current OTTI model for AFS debt securities. Credit losses on AFS debt securities will be limited to the difference between the security's amortized cost basis and its fair value, and will be recognized through an allowance for credit losses rather than as a direct reduction in amortized cost basis. The ASU also provides for a simplified accounting model for purchased financial assets with more than insignificant credit deterioration since their origination. The ASU requires expanded disclosures including, but not limited to, (i) information about the methods and assumptions used to estimate expected credit losses, including changes in the factors that influenced management's estimate and the reasons for those changes, (ii) for financing receivables and net investment in leases measured at amortized cost, further disaggregation of information about the credit quality of those assets and (iii) a rollforward of the allowance for credit losses for AFS and HTM securities. The amendments in this ASU are effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2019. Early adoption is permitted; however, the Company does not intend to early adopt this ASU. Management is in the process of evaluating the impact of adoption of this ASU on its consolidated financial statements, processes and controls and is not currently able to reasonably estimate the impact of adoption on the Company's consolidated financial position, results of operations or cash flows; however, adoption will lead to significant changes in accounting policies related to, and the methods employed in estimating, the ALLL. It is possible that the impact will be material to the Company's consolidated financial position and results of operations. To date, the Company has completed a gap analysis, adopted and is in the process of executing a detailed implementation plan, established a formal governance structure, selected and implemented credit loss models for key portfolio segments, chosen loss estimation methodologies for key portfolio segments, implemented a software solution to serve as its CECL platform, and initiated a "parallel run" of the CECL estimation process. Leases The Company determines whether a contract is or contains a lease at inception. For leases with terms greater than twelve months under which the Company is lessee, ROU assets and lease liabilities are recorded at the commencement date. Lease liabilities are initially recorded based on the present value of future lease payments over the lease term. ROU assets are initially recorded at the amount of the associated lease liabilities plus prepaid lease payments and initial direct costs, less any lease incentives received. The cost of short term leases is recognized on a straight line basis over the lease term. The lease term includes options to extend if the exercise of those options is reasonably certain and includes termination options if there is reasonable certainty the options will not be exercised. Lease payments are discounted using the Company's FHLB borrowing rate for borrowings of a similar term unless an implicit rate is defined in the contract or is determinable, which is generally not the case. Leases are classified as financing or operating leases at commencement; generally, leases are classified as finance leases when effective control of the underlying asset is transferred. The substantial majority of leases under which the Company is lessee are classified as operating leases. For operating leases, lease cost is recognized in the Consolidated Statements of Income on a straight line basis over the lease terms. For finance leases, interest expense on lease liabilities is recognized on the effective interest method and amortization of ROU assets is recognized on a straight line basis over the lease terms. Variable lease costs are recognized in the period in which the obligation for those costs is incurred. The Company has elected not to separate lease from non-lease components of its lease contracts. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings Per Common Share The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, c 2019 2018 2019 2018 Basic earnings per common share: Numerator: Net income $ 81,451 $ 89,900 $ 147,423 $ 175,135 Distributed and undistributed earnings allocated to participating securities (3,382 ) (3,463 ) (6,074 ) (6,676 ) Income allocated to common stockholders for basic earnings per common share $ 78,069 $ 86,437 $ 141,349 $ 168,459 Denominator: Weighted average common shares outstanding 97,451,019 106,170,834 98,150,014 106,347,378 Less average unvested stock awards (1,174,339 ) (1,222,436 ) (1,173,137 ) (1,165,750 ) Weighted average shares for basic earnings per common share 96,276,680 104,948,398 96,976,877 105,181,628 Basic earnings per common share $ 0.81 $ 0.82 $ 1.46 $ 1.60 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 78,069 $ 86,437 $ 141,349 $ 168,459 Adjustment for earnings reallocated from participating securities 9 12 13 23 Income used in calculating diluted earnings per common share $ 78,078 $ 86,449 $ 141,362 $ 168,482 Denominator: Weighted average shares for basic earnings per common share 96,276,680 104,948,398 96,976,877 105,181,628 Dilutive effect of stock options and certain share-based awards 345,899 522,997 312,821 519,598 Weighted average shares for diluted earnings per common share 96,622,579 105,471,395 97,289,698 105,701,226 Diluted earnings per common share $ 0.81 $ 0.82 $ 1.45 $ 1.59 Included in participating securities above are unvested shares and 3,023,314 dividend equivalent rights outstanding at June 30, 2019 that were issued in conjunction with the IPO of the Company's common stock. These dividend equivalent rights expire in 2021 and participate in dividends on a one-for-one basis. The following potentially dilutive securities were outstanding at June 30, 2019 and 2018 but excluded from the calculation of diluted earnings per common share for the periods indicated because their inclusion would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Unvested shares and share units 1,119,641 1,644,336 1,119,641 1,644,336 Stock options and warrants — 1,850,279 — 1,850,279 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities Investment securities include investment securities available for sale, marketable equity securities, and investment securities held to maturity. The investment securities portfolio consisted of the following at the dates indicated (in thousands): June 30, 2019 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 49,992 $ 221 $ — $ 50,213 U.S. Government agency and sponsored enterprise residential MBS 2,222,327 14,446 (8,978 ) 2,227,795 U.S. Government agency and sponsored enterprise commercial MBS 378,167 4,057 (1,120 ) 381,104 Private label residential MBS and CMOs 1,374,008 22,256 (1,082 ) 1,395,182 Private label commercial MBS 1,549,733 8,462 (242 ) 1,557,953 Single family rental real estate-backed securities 387,104 5,392 (190 ) 392,306 Collateralized loan obligations 1,205,295 766 (7,779 ) 1,198,282 Non-mortgage asset-backed securities 155,542 2,321 (46 ) 157,817 State and municipal obligations 265,856 13,471 — 279,327 SBA securities 418,494 5,631 (2,352 ) 421,773 Other debt securities 1,395 3,386 — 4,781 8,007,913 $ 80,409 $ (21,789 ) 8,066,533 Investment securities held to maturity 10,000 10,000 $ 8,017,913 8,076,533 Marketable equity securities 62,175 $ 8,138,708 December 31, 2018 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 39,885 $ 2 $ (14 ) $ 39,873 U.S. Government agency and sponsored enterprise residential MBS 1,885,302 16,580 (4,408 ) 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS 374,569 1,293 (1,075 ) 374,787 Private label residential MBS and CMOs 1,539,058 10,138 (14,998 ) 1,534,198 Private label commercial MBS 1,486,835 5,021 (6,140 ) 1,485,716 Single family rental real estate-backed securities 406,310 266 (4,118 ) 402,458 Collateralized loan obligations 1,239,355 1,060 (5,217 ) 1,235,198 Non-mortgage asset-backed securities 204,372 1,031 (1,336 ) 204,067 State and municipal obligations 398,810 3,684 (4,065 ) 398,429 SBA securities 514,765 6,502 (1,954 ) 519,313 Other debt securities 1,393 3,453 — 4,846 8,090,654 $ 49,030 $ (43,325 ) 8,096,359 Investment securities held to maturity 10,000 10,000 $ 8,100,654 8,106,359 Marketable equity securities 60,519 $ 8,166,878 (1) At fair value except for securities held to maturity. Investment securities held to maturity at June 30, 2019 and December 31, 2018 consisted of one State of Israel bond maturing in 2024. At June 30, 2019 , contractual maturities of investment securities available for sale, adjusted for anticipated prepayments when applicable, were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 767,598 $ 775,378 Due after one year through five years 4,350,779 4,371,075 Due after five years through ten years 2,457,216 2,480,114 Due after ten years 432,320 439,966 $ 8,007,913 $ 8,066,533 The carrying value of securities pledged as collateral for FHLB advances, public deposits, interest rate swaps and to secure borrowing capacity at the FRB totaled $2.2 billion and $2.1 billion at June 30, 2019 and December 31, 2018 , respectively. The following table provides information about gains and losses on investment securities for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Proceeds from sale of investment securities available for sale $ 850,527 $ 569,387 $ 1,626,250 $ 836,317 Gross realized gains: Investment securities available for sale $ 4,631 $ 2,554 $ 8,956 $ 6,041 Gross realized losses: Investment securities available for sale (716 ) (4 ) (724 ) (2,514 ) Net realized gain 3,915 2,550 8,232 3,527 Net unrealized gains (losses) on marketable equity securities recognized in earnings 201 (408 ) 1,669 (1,021 ) Gain on investment securities, net $ 4,116 $ 2,142 $ 9,901 $ 2,506 The following tables present the aggregate fair value and the aggregate amount by which amortized cost exceeded fair value for investment securities available for sale in unrealized loss positions, aggregated by investment category and length of time that individual securities had been in continuous unrealized loss positions at the dates indicated (in thousands): June 30, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agency and sponsored enterprise residential MBS $ 919,284 $ (6,994 ) $ 140,310 $ (1,984 ) $ 1,059,594 $ (8,978 ) U.S. Government agency and sponsored enterprise commercial MBS 99,590 (1,083 ) 6,477 (37 ) 106,067 (1,120 ) Private label residential MBS and CMOs 121,628 (180 ) 204,205 (902 ) 325,833 (1,082 ) Private label commercial MBS 100,262 (220 ) 14,780 (22 ) 115,042 (242 ) Single family rental real estate-backed securities 142,824 (148 ) 22,946 (42 ) 165,770 (190 ) Collateralized loan obligations 623,797 (5,981 ) 80,202 (1,798 ) 703,999 (7,779 ) Non-mortgage asset-backed securities 39,505 (46 ) — — 39,505 (46 ) SBA securities 62,857 (1,050 ) 101,227 (1,302 ) 164,084 (2,352 ) $ 2,109,747 $ (15,702 ) $ 570,147 $ (6,087 ) $ 2,679,894 $ (21,789 ) December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 14,921 $ (14 ) $ — $ — $ 14,921 $ (14 ) U.S. Government agency and sponsored enterprise residential MBS 450,666 (1,828 ) 87,311 (2,580 ) 537,977 (4,408 ) U.S. Government agency and sponsored enterprise commercial MBS 146,096 (352 ) 25,815 (723 ) 171,911 (1,075 ) Private label residential MBS and CMOs 759,921 (7,073 ) 278,108 (7,925 ) 1,038,029 (14,998 ) Private label commercial MBS 742,092 (5,371 ) 39,531 (769 ) 781,623 (6,140 ) Single family rental real estate-backed securities 234,305 (1,973 ) 85,282 (2,145 ) 319,587 (4,118 ) Collateralized loan obligations 749,047 (5,217 ) — — 749,047 (5,217 ) Non-mortgage asset-backed securities 136,100 (1,336 ) — — 136,100 (1,336 ) State and municipal obligations 208,971 (3,522 ) 46,247 (543 ) 255,218 (4,065 ) SBA securities 215,975 (1,391 ) 31,481 (563 ) 247,456 (1,954 ) $ 3,658,094 $ (28,077 ) $ 593,775 $ (15,248 ) $ 4,251,869 $ (43,325 ) The Company monitors its investment securities available for sale for OTTI on an individual security basis. No securities were determined to be other-than-temporarily impaired during the six months ended June 30, 2019 or 2018 . The Company does not intend to sell securities that are in significant unrealized loss positions at June 30, 2019 and it is not more likely than not that the Company will be required to sell these securities before recovery of the amortized cost basis, which may be at maturity. At June 30, 2019 , 126 securities were in unrealized loss positions. The amount of impairment related to 48 of these securities was considered insignificant both individually and in the aggregate, totaling approximately $422 thousand and no further analysis with respect to these securities was considered necessary. The basis for concluding that impairment of the remaining securities was not other-than-temporary is further described below. U.S. Government agency and sponsored enterprise residential and commercial MBS At June 30, 2019 , thirty-six U.S. Government agency and sponsored enterprise residential MBS and four U.S. Government agency and sponsored enterprise commercial MBS were in unrealized loss positions. Impairment of these securities was primarily attributable to increases in market interest rates subsequent to the date of acquisition and for certain securities, widening spreads. The timely payment of principal and interest on these securities is explicitly or implicitly guaranteed by the U.S. Government. Given the expectation of timely payment of principal and interest the impairments were considered to be temporary. Private label residential MBS and CMOs At June 30, 2019 , eight private label residential MBS and CMOs were in unrealized loss positions, primarily as a result of an increase in medium and long-term market interest rates subsequent to acquisition. These securities were assessed for OTTI using credit and prepayment behavioral models that incorporate CUSIP level constant default rates, voluntary prepayment rates and loss severity and delinquency assumptions. The results of these assessments were not indicative of credit losses related to any of these securities as of June 30, 2019 . Given the expectation of timely recovery of outstanding principal the impairments were considered to be temporary. Private label commercial MBS At June 30, 2019 , three private label commercial MBS were in unrealized loss positions, primarily as a result of an increase in market interest rates since acquisition. These securities were assessed for OTTI using credit and prepayment behavioral models incorporating assumptions consistent with the collateral characteristics of each security. The results of this analysis were not indicative of expected credit losses. Given the expectation of timely recovery of outstanding principal the impairments were considered to be temporary. Single family rental real estate-backed securities At June 30, 2019 , two single family rental real estate-backed securities were in unrealized loss positions. The unrealized losses were primarily due to increases in market interest rates since the purchase of the securities. Management's analysis of the credit characteristics, including loan-to-value and debt service coverage ratios, and levels of subordination for each of the securities is not indicative of projected credit losses. Given the absence of projected credit losses the impairments were considered to be temporary. Collateralized loan obligations: At June 30, 2019 , sixteen collateralized loan obligations were in unrealized loss positions, primarily due to widening credit spreads for this asset class. These securities were assessed for OTTI using credit and prepayment behavioral models incorporating assumptions consistent with the collateral characteristics of each security. The results of this analysis were not indicative of expected credit losses. Given the expectation of timely recovery of outstanding principal, the impairments were considered to be temporary. Non-mortgage asset-backed securities At June 30, 2019 , one non-mortgage asset-backed security was in an unrealized loss position, due primarily to increases in market interest rates subsequent to the date of acquisition. This security was assessed for OTTI using a credit and prepayment behavioral model incorporating assumptions consistent with the collateral characteristics of the security. The results of this analysis were not indicative of expected credit losses. Given the expectation of timely recovery of outstanding principal, the impairment was considered to be temporary. SBA Securities At June 30, 2019 , eight SBA securities were in unrealized loss positions. These securities were purchased at a premium and the impairment was attributable primarily to increased prepayment speeds. The timely payment of principal and interest on these securities is guaranteed by this U.S. Government agency. Given the expectation of timely payment of principal and interest, the impairments were considered to be temporary. |
Loans and Allowance for Loan an
Loans and Allowance for Loan and Lease Losses | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans and Allowance for Loan and Lease Losses | Loans and Allowance for Loan and Lease Losses Loans consisted of the following at the dates indicated (dollars in thousands): June 30, 2019 December 31, 2018 Total Percent of Total Total Percent of Total Residential and other consumer: 1-4 single family residential $ 4,830,943 21.4 % $ 4,606,828 21.0 % Government insured residential 354,731 1.6 % 265,701 1.2 % Other 14,533 0.1 % 17,369 0.1 % 5,200,207 23.1 % 4,889,898 22.3 % Commercial: Multi-family 2,381,346 10.6 % 2,583,331 11.8 % Non-owner occupied commercial real estate 4,945,017 21.9 % 4,700,188 21.4 % Construction and land 237,222 1.1 % 227,134 1.0 % Owner occupied commercial real estate 2,080,578 9.2 % 2,122,381 9.7 % Commercial and industrial 5,164,571 22.9 % 4,801,226 21.9 % Commercial lending subsidiaries 2,531,767 11.2 % 2,608,834 11.9 % 17,340,501 76.9 % 17,043,094 77.7 % Total loans 22,540,708 100.0 % 21,932,992 100.0 % Premiums, discounts and deferred fees and costs, net 51,141 44,016 Loans including premiums, discounts and deferred fees and costs 22,591,849 21,977,008 Allowance for loan and lease losses (112,141 ) (109,931 ) Loans, net $ 22,479,708 $ 21,867,077 During the three and six months ended June 30, 2019 and 2018 , the Company purchased 1-4 single family residential loans totaling $589 million , $894 million , $271 million and $604 million , respectively. Purchases for the three and six months ended June 30, 2019 and 2018 included $151 million , $284 million , $72 million and $112 million , respectively, of government insured residential loans. At June 30, 2019 , the Company had pledged real estate loans with a carrying value of approximately $9.9 billion as security for FHLB advances. The following presents the Company's recorded investment in ACI loans, included in the table above, as of the dates indicated (in thousands): June 30, 2019 December 31, 2018 Residential $ 174,029 $ 190,223 Commercial 17,544 17,925 $ 191,573 $ 208,148 At June 30, 2019 and December 31, 2018 , the UPB of ACI loans was $367 million and $408 million , respectively. The accretable yield on ACI loans represents the amount by which undiscounted expected future cash flows exceed recorded investment. Changes in the accretable yield on ACI loans for the six months ended June 30, 2019 and the year ended December 31, 2018 were as follows (in thousands): Balance at December 31, 2017 $ 455,059 Reclassifications from non-accretable difference, net 128,499 Accretion (369,915 ) Other changes, net (1) 78,204 Balance at December 31, 2018 291,847 Reclassifications to non-accretable difference, net (429 ) Accretion (33,103 ) Other changes, net (1) (6,929 ) Balance at June 30, 2019 $ 251,386 (1) Represents changes in cash flows expected to be collected due to the impact of changes in prepayment assumptions or changes in benchmark interest rates. Allowance for loan and lease losses Activity in the ALLL is summarized as follows for the periods indicated (thousands): Three Months Ended June 30, 2019 2018 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 10,952 $ 103,751 $ 114,703 $ 10,832 $ 126,644 $ 137,476 Provision (recovery) 131 (2,878 ) (2,747 ) (280 ) 9,275 8,995 Charge-offs — (1,711 ) (1,711 ) (222 ) (12,046 ) (12,268 ) Recoveries 153 1,743 1,896 8 760 768 Ending balance $ 11,236 $ 100,905 $ 112,141 $ 10,338 $ 124,633 $ 134,971 Six Months Ended June 30, 2019 2018 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 10,788 $ 99,143 $ 109,931 $ 10,720 $ 134,075 $ 144,795 Provision 281 7,253 7,534 94 12,048 12,142 Charge-offs — (7,844 ) (7,844 ) (504 ) (22,396 ) (22,900 ) Recoveries 167 2,353 2,520 28 906 934 Ending balance $ 11,236 $ 100,905 $ 112,141 $ 10,338 $ 124,633 $ 134,971 The following table presents information about the balance of the ALLL and related loans at the dates indicated (in thousands): June 30, 2019 December 31, 2018 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Allowance for loan and lease losses: Ending balance $ 11,236 $ 100,905 $ 112,141 $ 10,788 $ 99,143 $ 109,931 Ending balance: loans individually evaluated for impairment $ 15 $ 9,481 $ 9,496 $ 134 $ 12,143 $ 12,277 Ending balance: loans collectively evaluated for impairment $ 11,221 $ 91,424 $ 102,645 $ 10,654 $ 87,000 $ 97,654 Ending balance: ACI loans $ — $ — $ — $ — $ — $ — Loans: 0 Ending balance $ 5,267,788 $ 17,324,061 $ 22,591,849 $ 4,948,989 $ 17,028,019 $ 21,977,008 Ending balance: loans individually evaluated for impairment $ 14,572 $ 123,119 $ 137,691 $ 7,690 $ 108,841 $ 116,531 Ending balance: loans collectively evaluated for impairment $ 5,079,187 $ 17,183,398 $ 22,262,585 $ 4,751,076 $ 16,901,253 $ 21,652,329 Ending balance: ACI loans $ 174,029 $ 17,544 $ 191,573 $ 190,223 $ 17,925 $ 208,148 Credit quality information Loans, other than ACI loans and government insured residential loans, are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due, according to the contractual terms of the loan agreements. Commercial relationships with committed balances greater than or equal to $1.0 million that have internal risk ratings of substandard or doubtful and are on non-accrual status, as well as loans that have been modified in TDRs, are individually evaluated for impairment. Other commercial relationships on non-accrual status with committed balances under $1.0 million may also be evaluated individually for impairment at management's discretion. The likelihood of loss related to loans assigned internal risk ratings of substandard or doubtful is considered elevated due to their identified credit weaknesses. Factors considered by management in evaluating impairment include payment status, financial condition of the borrower, collateral value, and other factors impacting the probability of collecting scheduled principal and interest payments when due. An ACI pool or loan is considered to be impaired when it is probable that the Company will be unable to collect all the cash flows expected at acquisition, plus additional cash flows expected to be collected arising from changes in estimates after acquisition. 1-4 single family residential and home equity ACI loans accounted for in pools are evaluated collectively for impairment on a pool by pool basis based on expected pool cash flows. Commercial ACI loans are individually evaluated for impairment based on expected cash flows from the individual loans. Discount continues to be accreted on ACI loans or pools as long as there are expected future cash flows in excess of the current carrying amount of the loans or pools. The table below presents information about loans identified as impaired at the dates indicated (in thousands): June 30, 2019 December 31, 2018 Recorded Investment UPB Related Specific Allowance Recorded Investment UPB Related Specific Allowance With no specific allowance recorded: 1-4 single family residential (1) $ 10,005 $ 9,922 $ — $ 5,724 $ 5,605 $ — Multi-family 24,834 24,866 — 25,560 25,592 — Non-owner occupied commercial real estate 26,101 26,134 — 12,293 12,209 — Construction and land 9,418 9,421 — 9,923 9,925 — Owner occupied commercial real estate 14,791 14,890 — 9,007 9,024 — Commercial and industrial 8,432 8,436 — 13,514 13,519 — Commercial lending subsidiaries 5,205 5,226 — 3,152 3,149 — With a specific allowance recorded: 1-4 single family residential 4,567 4,496 15 1,966 1,941 134 Owner occupied commercial real estate — — — 3,316 3,322 844 Non-owner occupied commercial real estate — — — 1,666 1,667 731 Commercial and industrial 24,522 24,524 6,533 10,939 10,946 3,831 Commercial lending subsidiaries 9,816 9,736 2,948 19,471 19,385 6,737 Total: Residential and other consumer $ 14,572 $ 14,418 $ 15 $ 7,690 $ 7,546 $ 134 Commercial 123,119 123,233 9,481 108,841 108,738 12,143 $ 137,691 $ 137,651 $ 9,496 $ 116,531 $ 116,284 $ 12,277 (1) Includes government insured residential loans modified in TDRs totaling $9.9 million and $3.5 million at June 30, 2019 and December 31, 2018 , respectively. Included in the table above is the guaranteed portion of impaired SBA loans totaling $21.8 million and $13.1 million at June 30, 2019 and December 31, 2018 , respectively, with no specific allowance recorded. Interest income recognized on impaired loans was immaterial for the three and six months ended June 30, 2019 and 2018 . The following table presents the average recorded investment in impaired loans for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Residential and other consumer: 1-4 single family residential $ 12,732 $ 6,932 $ 11,011 $ 5,764 Commercial: Multi-family 25,066 26,260 25,248 25,490 Non-owner occupied commercial real estate 24,599 14,123 21,563 13,499 Construction and land 9,604 5,244 9,730 4,196 Owner occupied commercial real estate 12,741 16,751 12,124 19,175 Commercial and industrial (1) 32,690 109,186 30,564 109,749 Commercial lending subsidiaries 18,082 1,506 19,982 1,816 122,782 173,070 119,211 173,925 $ 135,514 $ 180,002 $ 130,222 $ 179,689 (1) Includes average recorded investment in taxi medallion loans totaling $93 million and $97 million during the three and six months ended June 30, 2018 , respectively. The following table presents the recorded investment in loans on non-accrual status as of the dates indicated (in thousands): June 30, 2019 December 31, 2018 Residential and other consumer: 1-4 single family residential $ 10,807 $ 6,316 Home equity loans and lines of credit 30 — Other consumer loans 277 288 11,114 6,604 Commercial: Multi-family 24,834 25,560 Non-owner occupied commercial real estate 27,623 16,050 Construction and land 9,418 9,923 Owner occupied commercial real estate 21,752 19,789 Commercial and industrial 27,176 28,584 Commercial lending subsidiaries 16,236 22,733 127,039 122,639 $ 138,153 $ 129,243 Included in the table above is the guaranteed portion of non-accrual SBA loans totaling $28.4 million and $17.8 million at June 30, 2019 and December 31, 2018 , respectively. Loans contractually delinquent by 90 days or more and still accruing totaled $0.7 million at December 31, 2018 . There were no loans contractually delinquent by 90 days or more and still accruing at June 30, 2019 . The amount of additional interest income that would have been recognized on non-accrual loans had they performed in accordance with their contractual terms was approximately $2.5 million and $4.3 million for the three and six months ended June 30, 2019 , respectively, and $1.8 million and $3.0 million three and six months ended June 30, 2018 , respectively. Management considers delinquency status to be the most meaningful indicator of the credit quality of 1-4 single family residential, home equity and consumer loans. Delinquency statistics are updated at least monthly. See "Aging of loans" below for more information on the delinquency status of loans. Original LTV and original FICO score are also important indicators of credit quality for 1-4 single family residential loans other than the FSB loans and government insured loans. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial loans. Internal risk ratings are a key factor in identifying loans that are individually evaluated for impairment and impact management’s estimates of loss factors used in determining the amount of the ALLL. Internal risk ratings are updated on a continuous basis. Generally, relationships with balances in excess of defined thresholds, ranging from $1 million to $3 million , are re-evaluated at least annually and more frequently if circumstances indicate that a change in risk rating may be warranted. Loans exhibiting potential credit weaknesses that deserve management’s close attention and that if left uncorrected may result in deterioration of the repayment capacity of the borrower are categorized as special mention. Loans with well-defined credit weaknesses, including payment defaults, declining collateral values, frequent overdrafts, operating losses, increasing balance sheet leverage, inadequate cash flow, project cost overruns, unreasonable construction delays, past due real estate taxes or exhausted interest reserves, are assigned an internal risk rating of substandard. A loan with a weakness so severe that collection in full is highly questionable or improbable, but because of certain reasonably specific pending factors has not been charged off, will be assigned an internal risk rating of doubtful. The following tables summarize key indicators of credit quality for the Company's loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): 1-4 Single Family Residential credit exposure for loans, excluding FSB loans and government insured residential loans, based on original LTV and FICO score: June 30, 2019 FICO LTV 720 or less 721 - 740 741 - 760 761 or Total Less than 60% $ 110,475 $ 124,463 $ 190,874 $ 796,918 $ 1,222,730 60% - 70% 139,870 120,664 178,995 625,452 1,064,981 70% - 80% 183,277 221,490 400,406 1,375,700 2,180,873 More than 80% 21,467 35,938 39,863 147,703 244,971 $ 455,089 $ 502,555 $ 810,138 $ 2,945,773 $ 4,713,555 December 31, 2018 FICO LTV 720 or less 721 - 740 741 - 760 761 or Total Less than 60% $ 105,812 $ 123,877 $ 197,492 $ 813,944 $ 1,241,125 60% - 70% 120,982 109,207 170,531 597,659 998,379 70% - 80% 156,519 203,121 374,311 1,264,491 1,998,442 More than 80% 17,352 35,036 36,723 136,487 225,598 $ 400,665 $ 471,241 $ 779,057 $ 2,812,581 $ 4,463,544 Commercial credit exposure, based on internal risk rating: June 30, 2019 Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial Pinnacle Bridge Total Pass $ 2,335,356 $ 4,826,910 $ 227,476 $ 2,026,416 $ 5,063,682 $ 1,269,469 $ 1,207,657 $ 16,956,966 Special mention — 6,744 — 20,212 24,014 — 8,817 59,787 Substandard 47,760 100,403 9,418 31,189 61,264 — 50,726 300,760 Doubtful — — — — 3,683 — 2,865 6,548 $ 2,383,116 $ 4,934,057 $ 236,894 $ 2,077,817 $ 5,152,643 $ 1,269,469 $ 1,270,065 $ 17,324,061 December 31, 2018 Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial Pinnacle Bridge Total Pass $ 2,547,835 $ 4,611,029 $ 216,917 $ 2,077,611 $ 4,706,666 $ 1,462,655 $ 1,105,821 $ 16,728,534 Special mention 2,932 16,516 — 13,368 38,097 — 10,157 81,070 Substandard 34,654 61,335 9,923 28,901 43,691 — 31,522 210,026 Doubtful — — — — 1,746 — 6,643 8,389 $ 2,585,421 $ 4,688,880 $ 226,840 $ 2,119,880 $ 4,790,200 $ 1,462,655 $ 1,154,143 $ 17,028,019 Aging of loans: The following table presents an aging of loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): June 30, 2019 December 31, 2018 Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total 1-4 single family residential $ 4,835,228 $ 49,673 $ 2,522 $ 10,129 $ 4,897,552 $ 4,640,771 $ 15,070 $ 2,126 $ 6,953 $ 4,664,920 Government insured residential 37,086 16,530 14,878 287,225 355,719 31,348 8,342 8,871 218,168 266,729 Home equity loans and lines of credit 1,393 22 — 30 1,445 1,393 — — — 1,393 Other consumer loans 12,400 672 — — 13,072 15,947 — — — 15,947 Multi-family 2,364,546 18,570 — — 2,383,116 2,585,421 — — — 2,585,421 Non-owner occupied commercial real estate 4,927,847 714 559 4,937 4,934,057 4,682,443 3,621 1,374 1,442 4,688,880 Construction and land 236,012 — — 882 236,894 224,828 916 — 1,096 226,840 Owner occupied commercial real estate 2,064,064 2,124 — 11,629 2,077,817 2,106,104 2,826 1,087 9,863 2,119,880 Commercial and industrial 5,136,585 5,498 367 10,193 5,152,643 4,772,978 6,732 926 9,564 4,790,200 Commercial lending subsidiaries Pinnacle 1,269,469 — — — 1,269,469 1,462,655 — — — 1,462,655 Bridge 1,252,556 13,879 — 3,630 1,270,065 1,152,312 603 — 1,228 1,154,143 $ 22,137,186 $ 107,682 $ 18,326 $ 328,655 $ 22,591,849 $ 21,676,200 $ 38,110 $ 14,384 $ 248,314 $ 21,977,008 Included in the table above is the guaranteed portion of SBA loans past due more than 90 days totaling $18.4 million and $8.8 million at June 30, 2019 and December 31, 2018 , respectively. Foreclosure of residential real estate The carrying amount of foreclosed residential real estate included in "Other assets" in the accompanying consolidated balance sheets totaled $5 million and $6 million at June 30, 2019 and December 31, 2018 , respectively. The recorded investment in non-government insured residential mortgage loans in the process of foreclosure was $1.6 million at June 30, 2019 and was insignificant at December 31, 2018 . The recorded investment in government insured residential loans in the process of foreclosure totaled $93 million and $85 million at June 30, 2019 and December 31, 2018 , respectively. Troubled debt restructurings The following tables summarize loans that were modified in TDRs during the periods indicated, as well as loans modified during the twelve months preceding June 30, 2019 and 2018 that experienced payment defaults during the periods indicated (dollars in thousands): Three Months Ended June 30, 2019 2018 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded 1-4 single family residential (1) 34 $ 5,164 31 $ 4,355 9 $ 2,106 3 $ 507 Non-owner occupied commercial real estate 1 12,085 1 2,772 — — — — Owner occupied commercial real estate — — 3 1,878 — — — — Commercial and industrial 4 7,354 1 1,233 3 415 2 437 Commercial lending subsidiaries 1 2,073 — — — — — — 40 $ 26,676 36 $ 10,238 12 $ 2,521 5 $ 944 (1) Includes government insured residential loans modified totaling $5 million and $1 million during the three months ended June 30, 2019 and 2018 , respectively. Six Months Ended June 30, 2019 2018 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded 1-4 single family residential (1) 48 $ 7,345 32 $ 4,517 17 $ 5,545 3 $ 507 Non-owner occupied commercial real estate 1 12,085 1 2,772 — — — — Owner occupied commercial real estate 1 849 3 1,878 — — — — Commercial and industrial 6 17,994 1 1,233 8 1,517 5 1,372 Commercial lending subsidiaries 4 4,085 — — — — — — 60 $ 42,358 37 $ 10,400 25 $ 7,062 8 $ 1,879 (1) Includes government insured residential loans modified totaling $7 million and $1 million during the six months ended June 30, 2019 and 2018 , respectively. Modifications during the three and six months ended June 30, 2019 and 2018 included interest rate reductions, restructuring of the amount and timing of required periodic payments, extensions of maturity and covenant waivers. Included in TDRs are residential loans to borrowers who have not reaffirmed their debt discharged in Chapter 7 bankruptcy. The total amount of such loans is not material. Modified ACI loans accounted for in pools are not considered TDRs, are not separated from the pools and are not classified as impaired loans. |
Leases Leases
Leases Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases [Text Block] | Note 5 Leases Leases under which the Company is the lessee The Company leases branches, office space and a small amount of equipment under operating and finance leases with terms ranging from one to 16 years, some of which include extension options. The following table presents ROU assets and lease liabilities as of June 30, 2019 (in thousands): June 30, 2019 ROU assets: Operating leases $ 87,596 Finance leases 6,627 $ 94,223 Lease liabilities: Operating leases $ 96,908 Finance leases 8,926 $ 105,834 ROU assets and lease liabilities for operating leases are included in "other assets" and "other liabilities", respectively, in the accompanying Consolidated Balance Sheet. ROU assets and lease liabilities for finance leases are included in "other assets" and "notes and other borrowings", respectively. The weighted average remaining lease term and weighted average discount rate at June 30, 2019 were: Weighted average remaining lease term: Operating lease 7.89 years Finance lease 6.30 years Weighted average discount rate: Operating lease 3.4 % Finance lease 11.7 % The components of lease expense for the period indicated were (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 5,046 $ 10,080 Finance lease cost: Amortization of ROU assets $ 359 $ 709 Interest on lease liabilities 250 505 Total finance lease cost $ 609 $ 1,214 Short-term lease cost, variable lease cost, and sublease income were immaterial for the three and six months ended June 30, 2019 . Additional information related to operating and finance leases for the periods indicated follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 250 $ 505 Operating cash flows from operating leases 5,216 10,359 Financing cash flows from finance leases 726 1,461 $ 6,192 $ 12,325 Lease liabilities recognized from obtaining ROU assets: Operating lease liabilities recognized upon adoption of ASC 842 $ — $ 104,064 Operating leases 1,597 1,597 Finance leases — 1,521 $ 1,597 $ 107,182 Future lease payment obligations under leases with terms in excess of one year and a reconciliation to lease liabilities as of June 30, 2019 follows (in thousands): Operating Leases Finance Leases Total Years ending December 31: 2019 (excluding the six months ending June 30, 2019) $ 10,379 $ 939 $ 11,318 2020 17,499 2,456 19,955 2021 15,762 2,514 18,276 2022 12,524 2,053 14,577 2023 10,764 2,124 12,888 Thereafter 43,873 2,825 46,698 Total future minimum lease payments 110,801 12,911 123,712 Less: interest component (13,893 ) (3,985 ) (17,878 ) Lease liabilities $ 96,908 $ 8,926 $ 105,834 As of December 31, 2018 , future minimum rentals under non-cancelable operating leases with initial or remaining terms in excess of one year were as follows (in thousands): Years ending December 31: 2019 $ 21,207 2020 17,629 2021 15,858 2022 12,114 2023 10,311 Thereafter through 2034 42,984 $ 120,103 Leases under which the Company is the lessor Through its commercial lending subsidiaries, Pinnacle and Bridge, the Bank provides equipment financing using a variety of loan and lease structures. Pinnacle provides essential use equipment financing to state and local governmental entities. Bridge provides primarily transportation equipment financing. The following table presents the components of the investment in direct or sales type financing leases, included in loans in the Consolidated Balance Sheet, at the dates indicated (in thousands): June 30, 2019 December 31, 2018 Total minimum lease payments to be received $ 844,442 $ 808,921 Estimated unguaranteed residual value of leased assets 8,369 7,355 Gross investment in direct or sales type financing leases 852,811 816,276 Unearned income (83,943 ) (81,864 ) Initial direct costs 4,728 4,833 $ 773,596 $ 739,245 As of June 30, 2019 , future minimum lease payments to be received under direct or sales type financing leases were as follows (in thousands): Years Ending December 31: 2019 (excluding the six months ending June 30, 2019) $ 122,931 2020 192,841 2021 132,419 2022 88,202 2023 68,031 Thereafter 240,018 $ 844,442 Equipment under operating lease consists primarily of railcars, non-commercial aircraft and other transportation equipment leased to commercial end users. Original lease terms generally range from three to ten years. Asset risk is evaluated and managed by a dedicated internal staff of seasoned equipment finance professionals with a broad depth and breadth of experience in the leasing business. Additionally, we have partnered with an industry leading, experienced service provider who provides fleet management and servicing relating to the railcar fleet. Residual risk is managed by setting appropriate residual values at inception and systematic reviews of residual values based on independent appraisals, performed at least annually. We endeavor to lease to a stable end-user base, maintain a relatively young and diversified fleet of assets and stagger lease maturities. As of June 30, 2019 , scheduled minimum rental payments under operating leases were as follows (in thousands): Years Ending December 31: 2019 (excluding the six months ending June 30, 2019) $ 34,159 2020 62,299 2021 52,949 2022 46,162 2023 37,951 Thereafter through 2034 109,933 $ 343,453 Lease income recognized for operating leases and direct or sales type finance leases follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Location of Lease Income on Consolidated Statements of Income Operating leases $ 17,005 $ 34,191 Non-interest income from lease financing Direct or sales type finance leases 5,489 10,798 Interest income on loans Total lease income $ 22,494 $ 44,989 |
Schedule of ROU Assets and Lease Liabilities [Table Text Block] | The following table presents ROU assets and lease liabilities as of June 30, 2019 (in thousands): June 30, 2019 ROU assets: Operating leases $ 87,596 Finance leases 6,627 $ 94,223 Lease liabilities: Operating leases $ 96,908 Finance leases 8,926 $ 105,834 |
Operating and Finance Lease Information [Table Text Block] | The weighted average remaining lease term and weighted average discount rate at June 30, 2019 were: Weighted average remaining lease term: Operating lease 7.89 years Finance lease 6.30 years Weighted average discount rate: Operating lease 3.4 % Finance lease 11.7 % |
Lease, Cost [Table Text Block] | The components of lease expense for the period indicated were (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 5,046 $ 10,080 Finance lease cost: Amortization of ROU assets $ 359 $ 709 Interest on lease liabilities 250 505 Total finance lease cost $ 609 $ 1,214 Short-term lease cost, variable lease cost, and sublease income were immaterial for the three and six months ended June 30, 2019 . |
Leases - Cash Flow Information [Table Text Block] | Additional information related to operating and finance leases for the periods indicated follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 250 $ 505 Operating cash flows from operating leases 5,216 10,359 Financing cash flows from finance leases 726 1,461 $ 6,192 $ 12,325 Lease liabilities recognized from obtaining ROU assets: Operating lease liabilities recognized upon adoption of ASC 842 $ — $ 104,064 Operating leases 1,597 1,597 Finance leases — 1,521 $ 1,597 $ 107,182 |
Schedule of Future Minimum Lease Payments for Operating and Finance Leases [Table Text Block] | Future lease payment obligations under leases with terms in excess of one year and a reconciliation to lease liabilities as of June 30, 2019 follows (in thousands): Operating Leases Finance Leases Total Years ending December 31: 2019 (excluding the six months ending June 30, 2019) $ 10,379 $ 939 $ 11,318 2020 17,499 2,456 19,955 2021 15,762 2,514 18,276 2022 12,524 2,053 14,577 2023 10,764 2,124 12,888 Thereafter 43,873 2,825 46,698 Total future minimum lease payments 110,801 12,911 123,712 Less: interest component (13,893 ) (3,985 ) (17,878 ) Lease liabilities $ 96,908 $ 8,926 $ 105,834 As of December 31, 2018 , future minimum rentals under non-cancelable operating leases with initial or remaining terms in excess of one year were as follows (in thousands): Years ending December 31: 2019 $ 21,207 2020 17,629 2021 15,858 2022 12,114 2023 10,311 Thereafter through 2034 42,984 $ 120,103 |
Schedule of Direct or Sales Type Finance Leases [Table Text Block] | The following table presents the components of the investment in direct or sales type financing leases, included in loans in the Consolidated Balance Sheet, at the dates indicated (in thousands): June 30, 2019 December 31, 2018 Total minimum lease payments to be received $ 844,442 $ 808,921 Estimated unguaranteed residual value of leased assets 8,369 7,355 Gross investment in direct or sales type financing leases 852,811 816,276 Unearned income (83,943 ) (81,864 ) Initial direct costs 4,728 4,833 $ 773,596 $ 739,245 |
Schedule of future minimum lease payments under direct or sales type financing leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | As of June 30, 2019 , scheduled minimum rental payments under operating leases were as follows (in thousands): Years Ending December 31: 2019 (excluding the six months ending June 30, 2019) $ 34,159 2020 62,299 2021 52,949 2022 46,162 2023 37,951 Thereafter through 2034 109,933 $ 343,453 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 6 Income Taxes The Company’s effective income tax rate was 25.2% and 25.9% for the three and six months ended June 30, 2019 , respectively, and 23.2% and 23.1% for the three and six months ended June 30, 2018 , respectively. The effective income tax rate differed from the statutory federal income tax rate of 21% for the three and six months ended June 30, 2019 and 2018 due primarily to state income taxes, offset by income not subject to tax. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities The Company uses interest rate swaps to manage interest rate risk related to liabilities that expose the Company to variability in cash flows due to changes in interest rates. The Company enters into LIBOR-based interest rate swaps that are designated as cash flow hedges with the objective of limiting the variability of interest payment cash flows resulting from changes in the benchmark interest rate LIBOR. Changes in the fair value of interest rate swaps designated as cash flow hedging instruments are reported in AOCI and subsequently reclassified into interest expense in the same period in which the related interest on the floating-rate debt obligations affects earnings. The Company also enters into interest rate derivative contracts with certain of its commercial borrowers to enable those borrowers to manage their exposure to interest rate fluctuations. To mitigate interest rate risk associated with these derivative contracts, the Company enters into offsetting derivative contract positions with primary dealers. These interest rate derivative contracts are not designated as hedging instruments; therefore, changes in the fair value of these derivatives are recognized immediately in earnings. The impact on earnings related to changes in fair value of these derivatives for the three and six months ended June 30, 2019 and 2018 was not material. The Company may be exposed to credit risk in the event of non-performance by the counterparties to its interest rate derivative agreements. The Company assesses the credit risk of its financial institution counterparties by monitoring publicly available credit rating and financial information. The Company manages dealer credit risk by entering into interest rate derivatives only with primary and highly rated counterparties, the use of ISDA master agreements, central clearing mechanisms and counterparty limits. The agreements contain bilateral collateral arrangements with the amount of collateral to be posted generally governed by the settlement value of outstanding swaps. The Company manages the risk of default by its borrower counterparties through its normal loan underwriting and credit monitoring policies and procedures. The Company does not currently anticipate any losses from failure of interest rate derivative counterparties to honor their obligations. The CME legally characterizes variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposures rather than collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. The Company's clearing agent for interest rate derivative contracts centrally cleared through the CME settles the variation margin daily with the CME; therefore, those interest rate derivative contracts the Company clears through the CME are reported at a fair value of approximately zero at June 30, 2019 and December 31, 2018 . The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands): June 30, 2019 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.37% 3-Month Libor 3.7 $ 3,131,000 Other assets / Other liabilities $ — $ (1,485 ) Derivatives not designated as hedges: Pay-fixed interest rate swaps 4.09% Indexed to 1-month Libor 6.0 1,130,652 Other assets / Other liabilities 1,616 (16,236 ) Pay-variable interest rate swaps Indexed to 1-month Libor 4.09% 6.0 1,130,652 Other assets / Other liabilities 39,789 (1,530 ) Interest rate caps purchased, indexed to 1-month Libor 3.62% 0.9 80,313 Other assets — — Interest rate caps sold, indexed to 1-month Libor 3.62% 0.9 80,313 Other liabilities — — $ 5,552,930 $ 41,405 $ (19,251 ) December 31, 2018 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.38% 3-Month Libor 4.0 $ 2,846,000 Other assets / Other liabilities $ 3,405 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 4.10% Indexed to 1-month Libor 6.0 1,048,196 Other assets / Other liabilities 14,883 (6,991 ) Pay-variable interest rate swaps Indexed to 1-month Libor 4.10% 6.0 1,048,196 Other assets / Other liabilities 11,318 (16,874 ) Interest rate caps purchased, indexed to 1-month Libor 3.43% 1.2 98,407 Other assets 9 — Interest rate caps sold, indexed to 1-month Libor 3.43% 1.2 98,407 Other liabilities — (9 ) $ 5,139,206 $ 29,615 $ (23,874 ) The following table provides information about the amount of gain (loss) related to derivatives designated as cash flow hedges reclassified from AOCI into interest expense for the periods indicated (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Location of Gain (Loss) Reclassified from AOCI into Income Interest rate contracts $ 1,688 $ 728 $ 4,411 $ (211 ) Interest expense on borrowings During the three and six months ended June 30, 2019 and 2018 , no derivative positions designated as cash flow hedges were discontinued and none of the gains and losses reported in AOCI were reclassified into earnings as a result of the discontinuance of cash flow hedges or because of the early extinguishment of debt. As of June 30, 2019 , the amount of net loss expected to be reclassified from AOCI into earnings during the next twelve months was $11.5 million . Some of the Company’s ISDA master agreements with financial institution counterparties contain provisions that permit either counterparty to terminate the agreements and require settlement in the event that regulatory capital ratios fall below certain designated thresholds, upon the initiation of other defined regulatory actions or upon suspension or withdrawal of the Bank’s credit rating. Currently, there are no circumstances that would trigger these provisions of the agreements. The Company does not offset assets and liabilities under master netting agreements for financial reporting purposes. Information on interest rate swaps subject to these agreements is as follows at the dates indicated (in thousands): June 30, 2019 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 1,616 $ — $ 1,616 $ (1,616 ) $ — $ — Derivative liabilities (17,721 ) — (17,721 ) 1,616 16,105 — $ (16,105 ) $ — $ (16,105 ) $ — $ 16,105 $ — December 31, 2018 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 18,297 $ — $ 18,297 $ (5,264 ) $ (13,129 ) $ (96 ) Derivative liabilities (6,991 ) — (6,991 ) 5,264 436 (1,291 ) $ 11,306 $ — $ 11,306 $ — $ (12,693 ) $ (1,387 ) The difference between the amounts reported for interest rate swaps subject to master netting agreements and the total fair value of interest rate contract derivative financial instruments reported in the consolidated balance sheets is related to interest rate contracts entered into with borrowers not subject to master netting agreements. At June 30, 2019 , the Company had pledged net financial collateral of $17.3 million |
Stockholders' Equity
Stockholders' Equity - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jan. 23, 2019 | |
Equity [Abstract] | ||
Stockholders' Equity | Stockholders’ Equity Accumulated Other Comprehensive Income Changes in other comprehensive income are summarized as follows for the periods indicated (in thousands): Three Months Ended June 30, 2019 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ 31,737 $ (8,410 ) $ 23,326 $ (17,831 ) $ 4,725 $ (13,106 ) Amounts reclassified to gain on investment securities available for sale, net (3,914 ) 1,037 (2,877 ) (2,551 ) 676 (1,875 ) Net change in unrealized gains on investment securities available for sale 27,823 (7,373 ) 20,449 (20,382 ) 5,401 (14,981 ) Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period (50,637 ) 13,419 (37,218 ) 13,396 (3,550 ) 9,846 Amounts reclassified to interest expense on borrowings (1,688 ) 447 (1,241 ) (728 ) 193 (535 ) Net change in unrealized losses on derivative instruments (52,325 ) 13,866 (38,459 ) 12,668 (3,357 ) 9,311 Other comprehensive loss $ (24,502 ) $ 6,493 $ (18,010 ) $ (7,714 ) $ 2,044 $ (5,670 ) Six Months Ended June 30, 2019 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ 61,147 $ (16,204 ) $ 44,943 $ (55,007 ) $ 14,577 $ (40,430 ) Amounts reclassified to gain on investment securities available for sale, net (8,231 ) 2,181 (6,050 ) (3,527 ) 935 (2,592 ) Net change in unrealized gains on investment securities available for sale 52,916 (14,023 ) 38,893 (58,534 ) 15,512 (43,022 ) Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period (78,766 ) 20,873 (57,893 ) 40,325 (10,686 ) 29,639 Amounts reclassified to interest expense on borrowings (4,411 ) 1,169 (3,242 ) 211 (56 ) 155 Net change in unrealized losses on derivative instruments (83,177 ) 22,042 (61,135 ) 40,536 (10,742 ) 29,794 Other comprehensive loss $ (30,261 ) $ 8,019 $ (22,242 ) $ (17,998 ) $ 4,770 $ (13,228 ) The categories of AOCI and changes therein are presented below for the periods indicated (in thousands): Unrealized Gain (Loss) on Investment Securities Available for Sale Unrealized Gain (Loss) on Derivative Instruments Total Balance at December 31, 2018 $ 4,194 $ 679 $ 4,873 Other comprehensive loss 38,893 (61,135 ) (22,242 ) Balance at June 30, 2019 $ 43,087 $ (60,456 ) $ (17,369 ) Balance at December 31, 2017 $ 56,534 $ (1,548 ) $ 54,986 Cumulative effect of adoption of new accounting standards 9,187 (285 ) 8,902 Other comprehensive loss (43,022 ) 29,794 (13,228 ) Balance at June 30, 2018 $ 22,699 $ 27,961 $ 50,660 Other In January 2019, the Company's Board of Directors authorized the repurchase of up to $150 million of its outstanding common stock. Any repurchases will be made in accordance with applicable securities laws from time to time in open market or private transactions. The program may be commenced, suspended or discontinued without prior notice. | |
Stock Repurchase Program, Authorized Amount | $ 150,000 |
Equity Based Compensation
Equity Based Compensation | 6 Months Ended |
Jun. 30, 2018 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Option Awards A summary of activity related to stock option awards for the six months ended June 30, 2019 and 2018 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2018 964,840 $ 26.53 Exercised (3,910 ) 11.14 Canceled or forfeited (1,960 ) 63.74 Option awards outstanding and exercisable, June 30, 2019 958,970 $ 26.52 Option awards outstanding, December 31, 2017 1,270,688 $ 26.93 Exercised (291,689 ) 26.94 Option awards outstanding, June 30, 2018 978,999 $ 27.07 The intrinsic value of options exercised was $0.1 million and $4.6 million , respectively, during the six months ended June 30, 2019 and 2018 . The related tax benefit of options exercised was immaterial for both the six months ended June 30, 2019 and 2018 . |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis Following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which those measurements are typically classified. Investment securities available for sale and marketable equity securities —Fair value measurements are based on quoted prices in active markets when available; these measurements are classified within level 1 of the fair value hierarchy. These securities typically include U.S. Treasury securities and certain preferred stocks. If quoted prices in active markets are not available, fair values are estimated using quoted prices of securities with similar characteristics, quoted prices of identical securities in less active markets, discounted cash flow techniques, or matrix pricing models. These securities are generally classified within level 2 of the fair value hierarchy and include U.S. Government agency securities, U.S. Government agency and sponsored enterprise MBS, preferred stock investments for which level 1 valuations are not available, corporate debt securities, non-mortgage asset-backed securities, single family rental real estate-backed securities, certain private label residential MBS and CMOs, private label commercial MBS, collateralized loan obligations and state and municipal obligations. Pricing of these securities is generally primarily spread driven. Observable inputs that may impact the valuation of these securities include benchmark yield curves, credit spreads, reported trades, dealer quotes, bids, issuer spreads, current rating, historical constant prepayment rates, historical voluntary prepayment rates, structural and waterfall features of individual securities, published collateral data, and for certain securities, historical constant default rates and default severities. Investment securities available for sale generally classified within level 3 of the fair value hierarchy include certain private label MBS and trust preferred securities. The Company typically values these securities using third-party proprietary pricing models, primarily discounted cash flow valuation techniques, which incorporate both observable and unobservable inputs. Unobservable inputs that may impact the valuation of these securities include risk adjusted discount rates, projected prepayment rates, projected default rates and projected loss severity. The Company uses third-party pricing services in determining fair value measurements for investment securities. To obtain an understanding of the methodologies and assumptions used, management reviews written documentation provided by the pricing services, conducts interviews with valuation desk personnel and reviews model results and detailed assumptions used to value selected securities as considered necessary. Management has established a robust price challenge process that includes a review by the treasury front office of all prices provided on a monthly basis. Any price evidencing unexpected month over month fluctuations or deviations from expectations is challenged. If considered necessary to resolve any discrepancies, a price will be obtained from an additional independent valuation source. The Company does not typically adjust the prices provided, other than through this established challenge process. The results of price challenges are subject to review by executive management. The Company has also established a quarterly process whereby prices provided by its primary pricing service for a sample of securities are validated. Any price discrepancies are resolved based on careful consideration of the assumptions and inputs employed by each of the pricing sources. Servicing rights —Commercial servicing rights are valued using a discounted cash flow methodology incorporating contractually specified servicing fees and market based assumptions about prepayments, discount rates, default rates and costs of servicing. Prepayment and default assumptions are based on historical industry data for loans with similar characteristics. Assumptions about costs of servicing are based on market convention. Discount rates are based on rates of return implied by observed trades of underlying loans in the secondary market. Derivative financial instruments —Fair values of interest rate swaps are determined using widely accepted discounted cash flow modeling techniques. These discounted cash flow models use projections of future cash payments and receipts that are discounted at mid-market rates. Observable inputs that may impact the valuation of these instruments include LIBOR swap rates and LIBOR forward yield curves. These fair value measurements are generally classified within level 2 of the fair value hierarchy. The following tables present assets and liabilities measured at fair value on a recurring basis at the dates indicated (in thousands): June 30, 2019 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 50,213 $ — $ — $ 50,213 U.S. Government agency and sponsored enterprise residential MBS — 2,227,795 — 2,227,795 U.S. Government agency and sponsored enterprise commercial MBS — 381,104 — 381,104 Private label residential MBS and CMOs — 1,369,656 25,526 1,395,182 Private label commercial MBS — 1,557,953 — 1,557,953 Single family rental real estate-backed securities — 392,306 — 392,306 Collateralized loan obligations — 1,198,282 — 1,198,282 Non-mortgage asset-backed securities — 157,817 — 157,817 State and municipal obligations — 279,327 — 279,327 SBA securities — 421,773 — 421,773 Other debt securities — — 4,781 4,781 Marketable equity securities 62,175 — — 62,175 Servicing rights — — 9,435 9,435 Derivative assets — 41,405 — 41,405 Total assets at fair value $ 112,388 $ 8,027,418 $ 39,742 $ 8,179,548 Derivative liabilities $ — $ (19,251 ) $ — $ (19,251 ) Total liabilities at fair value $ — $ (19,251 ) $ — $ (19,251 ) December 31, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 39,873 $ — $ — $ 39,873 U.S. Government agency and sponsored enterprise residential MBS — 1,897,474 — 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS — 374,787 — 374,787 Private label residential MBS and CMOs — 1,499,514 34,684 1,534,198 Private label commercial MBS — 1,485,716 — 1,485,716 Single family rental real estate-backed securities — 402,458 — 402,458 Collateralized loan obligations — 1,235,198 — 1,235,198 Non-mortgage asset-backed securities — 204,067 — 204,067 State and municipal obligations — 398,429 — 398,429 SBA securities — 519,313 — 519,313 Other debt securities — — 4,846 4,846 Marketable securities 60,519 — — 60,519 Servicing rights — — 9,525 9,525 Derivative assets — 29,615 — 29,615 Total assets at fair value $ 100,392 $ 8,046,571 $ 49,055 $ 8,196,018 Derivative liabilities $ — $ (23,874 ) $ — $ (23,874 ) Total liabilities at fair value $ — $ (23,874 ) $ — $ (23,874 ) The following table reconciles changes in the fair value of assets and liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy during the periods indicated (in thousands): Three Months Ended June 30, 2019 2018 Private Label Other Debt Servicing Rights Private Label Other Debt Servicing Rights Balance at beginning of period $ 27,904 $ 4,818 $ 9,585 $ 44,120 $ 5,714 $ 33,432 Gains (losses) for the period included in: Net income 196 — (486 ) — — (1,868 ) Other comprehensive income (800 ) (32 ) — (963 ) (91 ) — Discount accretion 941 55 — 714 182 — Purchases or additions — — 336 — — 4,351 Sales (561 ) — — — — — Settlements (2,154 ) (60 ) (3,307 ) (224 ) — Transfers into level 3 — — — — — — Transfers out of level 3 — — — — — — Balance at end of period $ 25,526 $ 4,781 $ 9,435 $ 40,564 $ 5,581 $ 35,915 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (320 ) $ (32 ) $ (933 ) $ (91 ) Six Months Ended June 30, 2019 2018 Private Label Other Debt Servicing Rights Private Label Other Debt Servicing Rights Balance at beginning of period $ 34,684 $ 4,846 $ 9,525 $ 52,214 $ 5,329 $ 30,737 Gains (losses) for the period included in: Net income 1,630 — (1,148 ) 1,319 — (1,621 ) Other comprehensive income (4,064 ) (67 ) — (3,461 ) 287 — Discount accretion 3,044 70 — 1,585 213 — Purchases or additions — — 1,058 — — 6,799 Sales (5,531 ) — — (5,120 ) — — Settlements (4,237 ) (68 ) — (5,973 ) (248 ) — Transfers into level 3 — — — — — — Transfers out of level 3 — — — — — — Balance at end of period $ 25,526 $ 4,781 $ 9,435 $ 40,564 $ 5,581 $ 35,915 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (731 ) $ (67 ) $ (1,992 ) $ 287 Gains on private label residential MBS recognized in net income during the three and six months ended June 30, 2019 and 2018 are included in the consolidated statement of income line item " Gain on investment securities, net ." Changes in the fair value of servicing rights are included in the consolidated statement of income line item “ Other non-interest income .” Changes in fair value include changes due to valuation assumptions, primarily discount rates and prepayment speeds, as well as other changes such as runoff and the passage of time. The amount of net unrealized gains (losses) included in earnings for the six months ended June 30, 2019 related to servicing rights held at June 30, 2019 was insignificant; and approximately $1.1 million for the six months ended June 30, 2018 related to servicing rights held at June 30, 2018 . The net unrealized gains (losses)were primarily due to changes in discount rates and prepayment speeds. Securities for which fair value measurements are categorized in level 3 of the fair value hierarchy at June 30, 2019 consisted of pooled trust preferred securities with a fair value of $5 million and private label residential MBS and CMOs with a fair value of $26 million . The trust preferred securities are not material to the Company’s financial statements. Private label residential MBS consisted of senior and mezzanine tranches collateralized by prime fixed rate and hybrid 1-4 single family residential mortgages originated before 2005. Substantially all of these securities have variable rate coupons. Weighted average subordination levels at June 30, 2019 were 19.4% and 14.4% for investment grade and non-investment grade securities, respectively. The following table provides information about the valuation techniques and unobservable inputs used in the valuation of private label residential MBS and CMOs falling within level 3 of the fair value hierarchy as of June 30, 2019 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) June 30, 2019 Investment grade $ 13,199 Discounted cash flow Voluntary prepayment rate 5.00% - 27.20% (15.70%) Probability of default 0.10% - 10.00% (2.09%) Loss severity 15.00% - 100.00% (41.05%) Discount rate 2.40% - 6.15% (3.42%) Non-investment grade $ 12,327 Discounted cash flow Voluntary prepayment rate 7.10% - 30.00% (15.48%) Probability of default 0.00% - 5.56% (2.26%) Loss severity 15.00% - 100.00% (29.87%) Discount rate 1.59% - 12.15% (4.61%) The significant unobservable inputs impacting the fair value measurement of private label residential MBS and CMOs include voluntary prepayment rates, probability of default, loss severity given default and discount rates. Generally, increases in probability of default, loss severity or discount rates would result in a lower fair value measurement. Alternatively, decreases in probability of default, loss severity or discount rates would result in a higher fair value measurement. For securities with less favorable credit characteristics, decreases in voluntary prepayment speeds may be interpreted as a deterioration in the overall credit quality of the underlying collateral and as such, lead to lower fair value measurements. The fair value measurements of those securities with higher levels of subordination will be less sensitive to changes in these unobservable inputs other than discount rates, while securities with lower levels of subordination will show a higher degree of sensitivity to changes in these unobservable inputs other than discount rates. Generally, a change in the assumption used for probability of default is accompanied by a directionally similar change in the assumption used for loss severity given default and a directionally opposite change in the assumption used for voluntary prepayment rate. The following table provides information about the valuation techniques and significant unobservable inputs used in the valuation of servicing rights as of June 30, 2019 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) June 30, 2019 Commercial servicing rights $ 9,435 Discounted cash flow Prepayment rate 0.60% - 19.91% (14.11%) Discount rate 3.61% - 16.81% (11.28%) Increases in prepayment rates or discount rates would result in lower fair value measurements and decreases in prepayment rates or discount rates would result in higher fair value measurements. Although the prepayment rate and the discount rate are not directly interrelated, they generally move in opposite directions. Assets and liabilities measured at fair value on a non-recurring basis Following is a description of the methodologies used to estimate the fair values of assets and liabilities that may be measured at fair value on a non-recurring basis, and the level within the fair value hierarchy in which those measurements are typically classified. Impaired loans, OREO and other repossessed assets —The carrying amount of collateral dependent impaired loans is typically based on the fair value of the underlying collateral, which may be real estate or other business assets, less estimated costs to sell. The carrying value of OREO is initially measured based on the fair value of the real estate acquired in foreclosure and subsequently adjusted to the lower of cost or estimated fair value, less estimated cost to sell. Fair values of real estate collateral and OREO are typically based on third-party real estate appraisals which utilize market and income approaches to valuation incorporating both observable and unobservable inputs. When current appraisals are not available, the Company may use brokers’ price opinions, home price indices or other available information about changes in real estate market conditions to adjust the latest appraised value available. These adjustments to appraised values may be subjective and involve significant management judgment. The fair value of repossessed assets or collateral consisting of other business assets may be based on third-party appraisals or internal analyses that use market approaches to valuation incorporating primarily unobservable inputs. Fair value measurements related to collateral dependent impaired loans, OREO and other repossessed assets are classified within levels 2 and 3 of the fair value hierarchy. The following tables present the carrying value of assets for which non-recurring changes in fair value have been recorded for the periods indicated (in thousands): June 30, 2019 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended Six Months Ended June 30, 2019 OREO and repossessed assets $ — $ — $ 1,557 $ 1,557 $ (203 ) $ (221 ) Impaired loans $ — $ — $ 15,385 $ 15,385 $ (529 ) $ (279 ) June 30, 2018 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 OREO and repossessed assets $ — $ 1,530 $ 432 $ 1,962 $ (396 ) $ (1,801 ) Impaired loans $ — $ 26,604 $ 54,089 $ 80,693 $ (10,966 ) $ (14,157 ) Included in the tables above are impaired taxi medallion loans with carrying values of $66.1 million at June 30, 2018 . Losses from fair value changes included in the tables above include $12.7 million recognized on impaired taxi medallion loans during the six months ended June 30, 2018 . In addition, OREO and repossessed assets reported above included repossessed taxi medallions with carrying values of $1.5 million at June 30, 2018 . Losses of $0.1 million and $0.6 million were recognized on repossessed taxi medallions during the three and six months ended June 30, 2018 . The following table presents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands): June 30, 2019 December 31, 2018 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 442,833 $ 442,833 $ 382,073 $ 382,073 Investment securities 1/2/3 8,138,708 8,139,257 8,166,878 8,167,127 Non-marketable equity securities 2 289,789 289,789 267,052 267,052 Loans held for sale 2 224,759 232,000 36,992 39,931 Loans 3 22,479,708 22,815,851 21,867,077 21,868,258 Derivative assets 2 41,405 41,405 29,615 29,615 Liabilities: Demand, savings and money market deposits 2 $ 16,841,684 $ 16,841,684 $ 16,654,465 $ 16,654,465 Time deposits 2 7,080,716 7,093,055 6,819,758 6,820,355 Federal funds purchased 2 99,000 99,000 175,000 175,000 FHLB advances 2 5,331,000 5,353,836 4,796,000 4,810,446 Notes and other borrowings 2 403,661 442,782 402,749 416,142 Derivative liabilities 2 19,251 19,251 23,874 23,874 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company issues off-balance sheet financial instruments to meet the financing needs of its customers. These financial instruments include commitments to fund loans, unfunded commitments under existing lines of credit, and commercial and standby letters of credit. These commitments expose the Company to varying degrees of credit and market risk which are essentially the same as those involved in extending loans to customers, and are subject to the same credit policies used in underwriting loans. Collateral may be obtained based on the Company’s credit evaluation of the counterparty. The Company’s maximum exposure to credit loss is represented by the contractual amount of these commitments. Commitments to fund loans These are agreements to lend funds to customers as long as there is no violation of any condition established in the contract. Commitments to fund loans generally have fixed expiration dates or other termination clauses and may require payment of a fee. Many of these commitments are expected to expire without being funded and, therefore, the total commitment amounts do not necessarily represent future liquidity requirements. Unfunded commitments under lines of credit Unfunded commitments under lines of credit include commercial, commercial real estate, home equity and consumer lines of credit to existing customers. Some of these commitments may mature without being fully funded. Commercial and standby letters of credit Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These letters of credit are primarily issued to support trade transactions or guarantee arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Total lending related commitments outstanding at June 30, 2019 were as follows (in thousands): Commitments to fund loans $ 450,898 Commitments to purchase loans 660,965 Unfunded commitments under lines of credit 2,950,555 Commercial and standby letters of credit 84,731 $ 4,147,149 Legal Proceedings The Company is involved as plaintiff or defendant in various legal actions arising in the normal course of business. In the opinion of management, based upon advice of legal counsel, the likelihood is remote that the impact of these proceedings, either individually or in the aggregate, would be material to the Company’s consolidated financial position, results of operations or cash flows. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Leases, Policy [Table Text Block] | Leases The Company determines whether a contract is or contains a lease at inception. For leases with terms greater than twelve months under which the Company is lessee, ROU assets and lease liabilities are recorded at the commencement date. Lease liabilities are initially recorded based on the present value of future lease payments over the lease term. ROU assets are initially recorded at the amount of the associated lease liabilities plus prepaid lease payments and initial direct costs, less any lease incentives received. The cost of short term leases is recognized on a straight line basis over the lease term. The lease term includes options to extend if the exercise of those options is reasonably certain and includes termination options if there is reasonable certainty the options will not be exercised. Lease payments are discounted using the Company's FHLB borrowing rate for borrowings of a similar term unless an implicit rate is defined in the contract or is determinable, which is generally not the case. Leases are classified as financing or operating leases at commencement; generally, leases are classified as finance leases when effective control of the underlying asset is transferred. The substantial majority of leases under which the Company is lessee are classified as operating leases. For operating leases, lease cost is recognized in the Consolidated Statements of Income on a straight line basis over the lease terms. For finance leases, interest expense on lease liabilities is recognized on the effective interest method and amortization of ROU assets is recognized on a straight line basis over the lease terms. Variable lease costs are recognized in the period in which the obligation for those costs is incurred. The Company has elected not to separate lease from non-lease components of its lease contracts. |
Use of Estimates, Policy [Policy Text Block] | Accounting Estimates In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and disclosures of contingent assets and liabilities. Actual results could differ significantly from these estimates. Significant estimates include the ALLL and the fair values of investment securities and other financial instruments. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements Adopted During the Six Months Ended June 30, 2019 ASU No. 2016-02, Leases (Topic 842). The amendments in this ASU, along with subsequent ASUs issued to clarify certain provisions of Topic 842, require a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for leases with terms longer than one year. Accounting applied by lessors was largely unchanged by this ASU. The ASU also requires both qualitative and quantitative disclosures that provide additional information about the amounts recorded in the consolidated financial statements. The amendments in this ASU were effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2018. The most significant impact of adoption was the recognition, as lessee, of new right-of-use assets and lease liabilities on the Consolidated Balance Sheet for real estate leases classified as operating leases. Under a package of practical expedients that the Company elected, as lessee and lessor, the Company did not have to (i) re-assess whether expired or existing contracts contain leases, (ii) re-assess the classification of expired or existing leases, (iii) re-evaluate initial direct costs for existing leases or (iv) separate lease components of certain contracts from non-lease components. The Company also elected the transition method that allows entities the option of applying the provisions of the ASU at the effective date without adjusting the comparative periods presented. The Company adopted this ASU in the first quarter of 2019 using the modified retrospective transition method. The Company recognized a lease liability and related right of use asset of approximately $104 million and $95 million , respectively, upon adoption on January 1, 2019. ASU No. 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes . The ASU added the OIS rate based on SOFR as a benchmark interest rate for hedge accounting purposes. The ASU was effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2018. The Company adopted this ASU in the first quarter of 2019 with no impact at adoption to its consolidated financial position, results of operations, or cash flows. |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments. This ASU, along with subsequent ASUs issued to clarify certain of its provisions, introduces new guidance which makes substantive changes to the accounting for credit losses. The ASU introduces the CECL model which applies to financial assets subject to credit losses and measured at amortized cost, as well as certain off-balance sheet credit exposures. This includes loans, loan commitments, standby letters of credit, net investments in leases recognized by a lessor and HTM debt securities. The CECL model requires an entity to estimate credit losses expected over the life of an exposure, considering information about historical events, current conditions and reasonable and supportable forecasts, and is generally expected to result in earlier recognition of credit losses. The ASU also modifies certain provisions of the current OTTI model for AFS debt securities. Credit losses on AFS debt securities will be limited to the difference between the security's amortized cost basis and its fair value, and will be recognized through an allowance for credit losses rather than as a direct reduction in amortized cost basis. The ASU also provides for a simplified accounting model for purchased financial assets with more than insignificant credit deterioration since their origination. The ASU requires expanded disclosures including, but not limited to, (i) information about the methods and assumptions used to estimate expected credit losses, including changes in the factors that influenced management's estimate and the reasons for those changes, (ii) for financing receivables and net investment in leases measured at amortized cost, further disaggregation of information about the credit quality of those assets and (iii) a rollforward of the allowance for credit losses for AFS and HTM securities. The amendments in this ASU are effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2019. Early adoption is permitted; however, the Company does not intend to early adopt this ASU. Management is in the process of evaluating the impact of adoption of this ASU on its consolidated financial statements, processes and controls and is not currently able to reasonably estimate the impact of adoption on the Company's consolidated financial position, results of operations or cash flows; however, adoption will lead to significant changes in accounting policies related to, and the methods employed in estimating, the ALLL. It is possible that the impact will be material to the Company's consolidated financial position and results of operations. To date, the Company has completed a gap analysis, adopted and is in the process of executing a detailed implementation plan, established a formal governance structure, selected and implemented credit loss models for key portfolio segments, chosen loss estimation methodologies for key portfolio segments, implemented a software solution to serve as its CECL platform, and initiated a "parallel run" of the CECL estimation process. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, c 2019 2018 2019 2018 Basic earnings per common share: Numerator: Net income $ 81,451 $ 89,900 $ 147,423 $ 175,135 Distributed and undistributed earnings allocated to participating securities (3,382 ) (3,463 ) (6,074 ) (6,676 ) Income allocated to common stockholders for basic earnings per common share $ 78,069 $ 86,437 $ 141,349 $ 168,459 Denominator: Weighted average common shares outstanding 97,451,019 106,170,834 98,150,014 106,347,378 Less average unvested stock awards (1,174,339 ) (1,222,436 ) (1,173,137 ) (1,165,750 ) Weighted average shares for basic earnings per common share 96,276,680 104,948,398 96,976,877 105,181,628 Basic earnings per common share $ 0.81 $ 0.82 $ 1.46 $ 1.60 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 78,069 $ 86,437 $ 141,349 $ 168,459 Adjustment for earnings reallocated from participating securities 9 12 13 23 Income used in calculating diluted earnings per common share $ 78,078 $ 86,449 $ 141,362 $ 168,482 Denominator: Weighted average shares for basic earnings per common share 96,276,680 104,948,398 96,976,877 105,181,628 Dilutive effect of stock options and certain share-based awards 345,899 522,997 312,821 519,598 Weighted average shares for diluted earnings per common share 96,622,579 105,471,395 97,289,698 105,701,226 Diluted earnings per common share $ 0.81 $ 0.82 $ 1.45 $ 1.59 |
Potentially Dilutive Securities Outstanding Categorized | The following potentially dilutive securities were outstanding at June 30, 2019 and 2018 but excluded from the calculation of diluted earnings per common share for the periods indicated because their inclusion would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Unvested shares and share units 1,119,641 1,644,336 1,119,641 1,644,336 Stock options and warrants — 1,850,279 — 1,850,279 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | Investment securities include investment securities available for sale, marketable equity securities, and investment securities held to maturity. The investment securities portfolio consisted of the following at the dates indicated (in thousands): June 30, 2019 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 49,992 $ 221 $ — $ 50,213 U.S. Government agency and sponsored enterprise residential MBS 2,222,327 14,446 (8,978 ) 2,227,795 U.S. Government agency and sponsored enterprise commercial MBS 378,167 4,057 (1,120 ) 381,104 Private label residential MBS and CMOs 1,374,008 22,256 (1,082 ) 1,395,182 Private label commercial MBS 1,549,733 8,462 (242 ) 1,557,953 Single family rental real estate-backed securities 387,104 5,392 (190 ) 392,306 Collateralized loan obligations 1,205,295 766 (7,779 ) 1,198,282 Non-mortgage asset-backed securities 155,542 2,321 (46 ) 157,817 State and municipal obligations 265,856 13,471 — 279,327 SBA securities 418,494 5,631 (2,352 ) 421,773 Other debt securities 1,395 3,386 — 4,781 8,007,913 $ 80,409 $ (21,789 ) 8,066,533 Investment securities held to maturity 10,000 10,000 $ 8,017,913 8,076,533 Marketable equity securities 62,175 $ 8,138,708 December 31, 2018 Amortized Cost Gross Unrealized Carrying Value (1) Gains Losses Investment securities available for sale: U.S. Treasury securities $ 39,885 $ 2 $ (14 ) $ 39,873 U.S. Government agency and sponsored enterprise residential MBS 1,885,302 16,580 (4,408 ) 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS 374,569 1,293 (1,075 ) 374,787 Private label residential MBS and CMOs 1,539,058 10,138 (14,998 ) 1,534,198 Private label commercial MBS 1,486,835 5,021 (6,140 ) 1,485,716 Single family rental real estate-backed securities 406,310 266 (4,118 ) 402,458 Collateralized loan obligations 1,239,355 1,060 (5,217 ) 1,235,198 Non-mortgage asset-backed securities 204,372 1,031 (1,336 ) 204,067 State and municipal obligations 398,810 3,684 (4,065 ) 398,429 SBA securities 514,765 6,502 (1,954 ) 519,313 Other debt securities 1,393 3,453 — 4,846 8,090,654 $ 49,030 $ (43,325 ) 8,096,359 Investment securities held to maturity 10,000 10,000 $ 8,100,654 8,106,359 Marketable equity securities 60,519 $ 8,166,878 (1) At fair value except for securities held to maturity. |
Investments Classified by Contractual Maturity Date | At June 30, 2019 , contractual maturities of investment securities available for sale, adjusted for anticipated prepayments when applicable, were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 767,598 $ 775,378 Due after one year through five years 4,350,779 4,371,075 Due after five years through ten years 2,457,216 2,480,114 Due after ten years 432,320 439,966 $ 8,007,913 $ 8,066,533 |
Gain on Investment Securities, net | The following table provides information about gains and losses on investment securities for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Proceeds from sale of investment securities available for sale $ 850,527 $ 569,387 $ 1,626,250 $ 836,317 Gross realized gains: Investment securities available for sale $ 4,631 $ 2,554 $ 8,956 $ 6,041 Gross realized losses: Investment securities available for sale (716 ) (4 ) (724 ) (2,514 ) Net realized gain 3,915 2,550 8,232 3,527 Net unrealized gains (losses) on marketable equity securities recognized in earnings 201 (408 ) 1,669 (1,021 ) Gain on investment securities, net $ 4,116 $ 2,142 $ 9,901 $ 2,506 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The following tables present the aggregate fair value and the aggregate amount by which amortized cost exceeded fair value for investment securities available for sale in unrealized loss positions, aggregated by investment category and length of time that individual securities had been in continuous unrealized loss positions at the dates indicated (in thousands): June 30, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agency and sponsored enterprise residential MBS $ 919,284 $ (6,994 ) $ 140,310 $ (1,984 ) $ 1,059,594 $ (8,978 ) U.S. Government agency and sponsored enterprise commercial MBS 99,590 (1,083 ) 6,477 (37 ) 106,067 (1,120 ) Private label residential MBS and CMOs 121,628 (180 ) 204,205 (902 ) 325,833 (1,082 ) Private label commercial MBS 100,262 (220 ) 14,780 (22 ) 115,042 (242 ) Single family rental real estate-backed securities 142,824 (148 ) 22,946 (42 ) 165,770 (190 ) Collateralized loan obligations 623,797 (5,981 ) 80,202 (1,798 ) 703,999 (7,779 ) Non-mortgage asset-backed securities 39,505 (46 ) — — 39,505 (46 ) SBA securities 62,857 (1,050 ) 101,227 (1,302 ) 164,084 (2,352 ) $ 2,109,747 $ (15,702 ) $ 570,147 $ (6,087 ) $ 2,679,894 $ (21,789 ) December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 14,921 $ (14 ) $ — $ — $ 14,921 $ (14 ) U.S. Government agency and sponsored enterprise residential MBS 450,666 (1,828 ) 87,311 (2,580 ) 537,977 (4,408 ) U.S. Government agency and sponsored enterprise commercial MBS 146,096 (352 ) 25,815 (723 ) 171,911 (1,075 ) Private label residential MBS and CMOs 759,921 (7,073 ) 278,108 (7,925 ) 1,038,029 (14,998 ) Private label commercial MBS 742,092 (5,371 ) 39,531 (769 ) 781,623 (6,140 ) Single family rental real estate-backed securities 234,305 (1,973 ) 85,282 (2,145 ) 319,587 (4,118 ) Collateralized loan obligations 749,047 (5,217 ) — — 749,047 (5,217 ) Non-mortgage asset-backed securities 136,100 (1,336 ) — — 136,100 (1,336 ) State and municipal obligations 208,971 (3,522 ) 46,247 (543 ) 255,218 (4,065 ) SBA securities 215,975 (1,391 ) 31,481 (563 ) 247,456 (1,954 ) $ 3,658,094 $ (28,077 ) $ 593,775 $ (15,248 ) $ 4,251,869 $ (43,325 ) |
Loans and Allowance for Loan _2
Loans and Allowance for Loan and Lease Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Financing Receivable, Impaired [Line Items] | |
Allowance for Loan and Lease Losses Rolforward [Table Text Block] | Activity in the ALLL is summarized as follows for the periods indicated (thousands): Three Months Ended June 30, 2019 2018 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 10,952 $ 103,751 $ 114,703 $ 10,832 $ 126,644 $ 137,476 Provision (recovery) 131 (2,878 ) (2,747 ) (280 ) 9,275 8,995 Charge-offs — (1,711 ) (1,711 ) (222 ) (12,046 ) (12,268 ) Recoveries 153 1,743 1,896 8 760 768 Ending balance $ 11,236 $ 100,905 $ 112,141 $ 10,338 $ 124,633 $ 134,971 Six Months Ended June 30, 2019 2018 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 10,788 $ 99,143 $ 109,931 $ 10,720 $ 134,075 $ 144,795 Provision 281 7,253 7,534 94 12,048 12,142 Charge-offs — (7,844 ) (7,844 ) (504 ) (22,396 ) (22,900 ) Recoveries 167 2,353 2,520 28 906 934 Ending balance $ 11,236 $ 100,905 $ 112,141 $ 10,338 $ 124,633 $ 134,971 |
Allowance for Credit Losses on Financing Receivables | The following table presents information about the balance of the ALLL and related loans at the dates indicated (in thousands): June 30, 2019 December 31, 2018 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Allowance for loan and lease losses: Ending balance $ 11,236 $ 100,905 $ 112,141 $ 10,788 $ 99,143 $ 109,931 Ending balance: loans individually evaluated for impairment $ 15 $ 9,481 $ 9,496 $ 134 $ 12,143 $ 12,277 Ending balance: loans collectively evaluated for impairment $ 11,221 $ 91,424 $ 102,645 $ 10,654 $ 87,000 $ 97,654 Ending balance: ACI loans $ — $ — $ — $ — $ — $ — Loans: 0 Ending balance $ 5,267,788 $ 17,324,061 $ 22,591,849 $ 4,948,989 $ 17,028,019 $ 21,977,008 Ending balance: loans individually evaluated for impairment $ 14,572 $ 123,119 $ 137,691 $ 7,690 $ 108,841 $ 116,531 Ending balance: loans collectively evaluated for impairment $ 5,079,187 $ 17,183,398 $ 22,262,585 $ 4,751,076 $ 16,901,253 $ 21,652,329 Ending balance: ACI loans $ 174,029 $ 17,544 $ 191,573 $ 190,223 $ 17,925 $ 208,148 |
Concentration Risk Disclosure [Text Block] | Foreclosure of residential real estate |
Financing Receivable, Past Due [Table Text Block] | The following table presents an aging of loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): June 30, 2019 December 31, 2018 Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total Current 30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or More Past Due Total 1-4 single family residential $ 4,835,228 $ 49,673 $ 2,522 $ 10,129 $ 4,897,552 $ 4,640,771 $ 15,070 $ 2,126 $ 6,953 $ 4,664,920 Government insured residential 37,086 16,530 14,878 287,225 355,719 31,348 8,342 8,871 218,168 266,729 Home equity loans and lines of credit 1,393 22 — 30 1,445 1,393 — — — 1,393 Other consumer loans 12,400 672 — — 13,072 15,947 — — — 15,947 Multi-family 2,364,546 18,570 — — 2,383,116 2,585,421 — — — 2,585,421 Non-owner occupied commercial real estate 4,927,847 714 559 4,937 4,934,057 4,682,443 3,621 1,374 1,442 4,688,880 Construction and land 236,012 — — 882 236,894 224,828 916 — 1,096 226,840 Owner occupied commercial real estate 2,064,064 2,124 — 11,629 2,077,817 2,106,104 2,826 1,087 9,863 2,119,880 Commercial and industrial 5,136,585 5,498 367 10,193 5,152,643 4,772,978 6,732 926 9,564 4,790,200 Commercial lending subsidiaries Pinnacle 1,269,469 — — — 1,269,469 1,462,655 — — — 1,462,655 Bridge 1,252,556 13,879 — 3,630 1,270,065 1,152,312 603 — 1,228 1,154,143 $ 22,137,186 $ 107,682 $ 18,326 $ 328,655 $ 22,591,849 $ 21,676,200 $ 38,110 $ 14,384 $ 248,314 $ 21,977,008 |
Schedule of Loans Categorized | oans consisted of the following at the dates indicated (dollars in thousands): June 30, 2019 December 31, 2018 Total Percent of Total Total Percent of Total Residential and other consumer: 1-4 single family residential $ 4,830,943 21.4 % $ 4,606,828 21.0 % Government insured residential 354,731 1.6 % 265,701 1.2 % Other 14,533 0.1 % 17,369 0.1 % 5,200,207 23.1 % 4,889,898 22.3 % Commercial: Multi-family 2,381,346 10.6 % 2,583,331 11.8 % Non-owner occupied commercial real estate 4,945,017 21.9 % 4,700,188 21.4 % Construction and land 237,222 1.1 % 227,134 1.0 % Owner occupied commercial real estate 2,080,578 9.2 % 2,122,381 9.7 % Commercial and industrial 5,164,571 22.9 % 4,801,226 21.9 % Commercial lending subsidiaries 2,531,767 11.2 % 2,608,834 11.9 % 17,340,501 76.9 % 17,043,094 77.7 % Total loans 22,540,708 100.0 % 21,932,992 100.0 % Premiums, discounts and deferred fees and costs, net 51,141 44,016 Loans including premiums, discounts and deferred fees and costs 22,591,849 21,977,008 Allowance for loan and lease losses (112,141 ) (109,931 ) Loans, net $ 22,479,708 $ 21,867,077 During the three and six months ended June 30, 2019 and 2018 , the Company purchased 1-4 single family residential loans totaling $589 million , $894 million , $271 million and $604 million , respectively. Purchases for the three and six months ended June 30, 2019 and 2018 included $151 million , $284 million , $72 million and $112 million , respectively, of government insured residential loans. At June 30, 2019 , the Company had pledged real estate loans with a carrying value of approximately $9.9 billion as security for FHLB advances. The following presents the Company's recorded investment in ACI loans, included in the table above, as of the dates indicated (in thousands): June 30, 2019 December 31, 2018 Residential $ 174,029 $ 190,223 Commercial 17,544 17,925 $ 191,573 $ 208,148 |
Accretable Yield Rollfoward [Table Text Block] | At June 30, 2019 and December 31, 2018 , the UPB of ACI loans was $367 million and $408 million , respectively. The accretable yield on ACI loans represents the amount by which undiscounted expected future cash flows exceed recorded investment. Changes in the accretable yield on ACI loans for the six months ended June 30, 2019 and the year ended December 31, 2018 were as follows (in thousands): Balance at December 31, 2017 $ 455,059 Reclassifications from non-accretable difference, net 128,499 Accretion (369,915 ) Other changes, net (1) 78,204 Balance at December 31, 2018 291,847 Reclassifications to non-accretable difference, net (429 ) Accretion (33,103 ) Other changes, net (1) (6,929 ) Balance at June 30, 2019 $ 251,386 (1) Represents changes in cash flows expected to be collected due to the impact of changes in prepayment assumptions or changes in benchmark interest rates. |
Impaired Financing Receivables | The table below presents information about loans identified as impaired at the dates indicated (in thousands): June 30, 2019 December 31, 2018 Recorded Investment UPB Related Specific Allowance Recorded Investment UPB Related Specific Allowance With no specific allowance recorded: 1-4 single family residential (1) $ 10,005 $ 9,922 $ — $ 5,724 $ 5,605 $ — Multi-family 24,834 24,866 — 25,560 25,592 — Non-owner occupied commercial real estate 26,101 26,134 — 12,293 12,209 — Construction and land 9,418 9,421 — 9,923 9,925 — Owner occupied commercial real estate 14,791 14,890 — 9,007 9,024 — Commercial and industrial 8,432 8,436 — 13,514 13,519 — Commercial lending subsidiaries 5,205 5,226 — 3,152 3,149 — With a specific allowance recorded: 1-4 single family residential 4,567 4,496 15 1,966 1,941 134 Owner occupied commercial real estate — — — 3,316 3,322 844 Non-owner occupied commercial real estate — — — 1,666 1,667 731 Commercial and industrial 24,522 24,524 6,533 10,939 10,946 3,831 Commercial lending subsidiaries 9,816 9,736 2,948 19,471 19,385 6,737 Total: Residential and other consumer $ 14,572 $ 14,418 $ 15 $ 7,690 $ 7,546 $ 134 Commercial 123,119 123,233 9,481 108,841 108,738 12,143 $ 137,691 $ 137,651 $ 9,496 $ 116,531 $ 116,284 $ 12,277 (1) Includes government insured residential loans modified in TDRs totaling $9.9 million and $3.5 million at June 30, 2019 and December 31, 2018 , respectively. Included in the table above is the guaranteed portion of impaired SBA loans totaling $21.8 million and $13.1 million at June 30, 2019 and December 31, 2018 , respectively, with no specific allowance recorded. Interest income recognized on impaired loans was immaterial for the three and six months ended June 30, 2019 and 2018 . The following table presents the average recorded investment in impaired loans for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Residential and other consumer: 1-4 single family residential $ 12,732 $ 6,932 $ 11,011 $ 5,764 Commercial: Multi-family 25,066 26,260 25,248 25,490 Non-owner occupied commercial real estate 24,599 14,123 21,563 13,499 Construction and land 9,604 5,244 9,730 4,196 Owner occupied commercial real estate 12,741 16,751 12,124 19,175 Commercial and industrial (1) 32,690 109,186 30,564 109,749 Commercial lending subsidiaries 18,082 1,506 19,982 1,816 122,782 173,070 119,211 173,925 $ 135,514 $ 180,002 $ 130,222 $ 179,689 (1) Includes average recorded investment in taxi medallion loans totaling $93 million and $97 million during the three and six months ended June 30, 2018 , respectively. |
Schedule of Recorded Investment in Loans, Other than ACI Loans, on Non-Accrual Status | The following table presents the recorded investment in loans on non-accrual status as of the dates indicated (in thousands): June 30, 2019 December 31, 2018 Residential and other consumer: 1-4 single family residential $ 10,807 $ 6,316 Home equity loans and lines of credit 30 — Other consumer loans 277 288 11,114 6,604 Commercial: Multi-family 24,834 25,560 Non-owner occupied commercial real estate 27,623 16,050 Construction and land 9,418 9,923 Owner occupied commercial real estate 21,752 19,789 Commercial and industrial 27,176 28,584 Commercial lending subsidiaries 16,236 22,733 127,039 122,639 $ 138,153 $ 129,243 |
Financing Receivable Credit Quality Indicators | The following tables summarize key indicators of credit quality for the Company's loans at the dates indicated. Amounts include premiums, discounts and deferred fees and costs (in thousands): 1-4 Single Family Residential credit exposure for loans, excluding FSB loans and government insured residential loans, based on original LTV and FICO score: June 30, 2019 FICO LTV 720 or less 721 - 740 741 - 760 761 or Total Less than 60% $ 110,475 $ 124,463 $ 190,874 $ 796,918 $ 1,222,730 60% - 70% 139,870 120,664 178,995 625,452 1,064,981 70% - 80% 183,277 221,490 400,406 1,375,700 2,180,873 More than 80% 21,467 35,938 39,863 147,703 244,971 $ 455,089 $ 502,555 $ 810,138 $ 2,945,773 $ 4,713,555 December 31, 2018 FICO LTV 720 or less 721 - 740 741 - 760 761 or Total Less than 60% $ 105,812 $ 123,877 $ 197,492 $ 813,944 $ 1,241,125 60% - 70% 120,982 109,207 170,531 597,659 998,379 70% - 80% 156,519 203,121 374,311 1,264,491 1,998,442 More than 80% 17,352 35,036 36,723 136,487 225,598 $ 400,665 $ 471,241 $ 779,057 $ 2,812,581 $ 4,463,544 Commercial credit exposure, based on internal risk rating: June 30, 2019 Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial Pinnacle Bridge Total Pass $ 2,335,356 $ 4,826,910 $ 227,476 $ 2,026,416 $ 5,063,682 $ 1,269,469 $ 1,207,657 $ 16,956,966 Special mention — 6,744 — 20,212 24,014 — 8,817 59,787 Substandard 47,760 100,403 9,418 31,189 61,264 — 50,726 300,760 Doubtful — — — — 3,683 — 2,865 6,548 $ 2,383,116 $ 4,934,057 $ 236,894 $ 2,077,817 $ 5,152,643 $ 1,269,469 $ 1,270,065 $ 17,324,061 December 31, 2018 Commercial Lending Subsidiaries Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial Pinnacle Bridge Total Pass $ 2,547,835 $ 4,611,029 $ 216,917 $ 2,077,611 $ 4,706,666 $ 1,462,655 $ 1,105,821 $ 16,728,534 Special mention 2,932 16,516 — 13,368 38,097 — 10,157 81,070 Substandard 34,654 61,335 9,923 28,901 43,691 — 31,522 210,026 Doubtful — — — — 1,746 — 6,643 8,389 $ 2,585,421 $ 4,688,880 $ 226,840 $ 2,119,880 $ 4,790,200 $ 1,462,655 $ 1,154,143 $ 17,028,019 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | The following tables summarize loans that were modified in TDRs during the periods indicated, as well as loans modified during the twelve months preceding June 30, 2019 and 2018 that experienced payment defaults during the periods indicated (dollars in thousands): Three Months Ended June 30, 2019 2018 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded 1-4 single family residential (1) 34 $ 5,164 31 $ 4,355 9 $ 2,106 3 $ 507 Non-owner occupied commercial real estate 1 12,085 1 2,772 — — — — Owner occupied commercial real estate — — 3 1,878 — — — — Commercial and industrial 4 7,354 1 1,233 3 415 2 437 Commercial lending subsidiaries 1 2,073 — — — — — — 40 $ 26,676 36 $ 10,238 12 $ 2,521 5 $ 944 (1) Includes government insured residential loans modified totaling $5 million and $1 million during the three months ended June 30, 2019 and 2018 , respectively. Six Months Ended June 30, 2019 2018 Loans Modified in TDRs TDRs Experiencing Payment Loans Modified in TDRs TDRs Experiencing Payment Number of Recorded Number of Recorded Number of Recorded Number of Recorded 1-4 single family residential (1) 48 $ 7,345 32 $ 4,517 17 $ 5,545 3 $ 507 Non-owner occupied commercial real estate 1 12,085 1 2,772 — — — — Owner occupied commercial real estate 1 849 3 1,878 — — — — Commercial and industrial 6 17,994 1 1,233 8 1,517 5 1,372 Commercial lending subsidiaries 4 4,085 — — — — — — 60 $ 42,358 37 $ 10,400 25 $ 7,062 8 $ 1,879 (1) Includes government insured residential loans modified totaling $7 million and $1 million during the six months ended June 30, 2019 and 2018 , respectively. |
Leases Leases (Tables)
Leases Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Schedule of ROU Assets and Lease Liabilities [Table Text Block] | The following table presents ROU assets and lease liabilities as of June 30, 2019 (in thousands): June 30, 2019 ROU assets: Operating leases $ 87,596 Finance leases 6,627 $ 94,223 Lease liabilities: Operating leases $ 96,908 Finance leases 8,926 $ 105,834 |
Operating and Finance Lease Information [Table Text Block] | The weighted average remaining lease term and weighted average discount rate at June 30, 2019 were: Weighted average remaining lease term: Operating lease 7.89 years Finance lease 6.30 years Weighted average discount rate: Operating lease 3.4 % Finance lease 11.7 % |
Lease, Cost [Table Text Block] | The components of lease expense for the period indicated were (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 5,046 $ 10,080 Finance lease cost: Amortization of ROU assets $ 359 $ 709 Interest on lease liabilities 250 505 Total finance lease cost $ 609 $ 1,214 Short-term lease cost, variable lease cost, and sublease income were immaterial for the three and six months ended June 30, 2019 . |
Leases - Cash Flow Information [Table Text Block] | Additional information related to operating and finance leases for the periods indicated follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 250 $ 505 Operating cash flows from operating leases 5,216 10,359 Financing cash flows from finance leases 726 1,461 $ 6,192 $ 12,325 Lease liabilities recognized from obtaining ROU assets: Operating lease liabilities recognized upon adoption of ASC 842 $ — $ 104,064 Operating leases 1,597 1,597 Finance leases — 1,521 $ 1,597 $ 107,182 |
Schedule of Future Minimum Lease Payments for Operating and Finance Leases [Table Text Block] | Future lease payment obligations under leases with terms in excess of one year and a reconciliation to lease liabilities as of June 30, 2019 follows (in thousands): Operating Leases Finance Leases Total Years ending December 31: 2019 (excluding the six months ending June 30, 2019) $ 10,379 $ 939 $ 11,318 2020 17,499 2,456 19,955 2021 15,762 2,514 18,276 2022 12,524 2,053 14,577 2023 10,764 2,124 12,888 Thereafter 43,873 2,825 46,698 Total future minimum lease payments 110,801 12,911 123,712 Less: interest component (13,893 ) (3,985 ) (17,878 ) Lease liabilities $ 96,908 $ 8,926 $ 105,834 As of December 31, 2018 , future minimum rentals under non-cancelable operating leases with initial or remaining terms in excess of one year were as follows (in thousands): Years ending December 31: 2019 $ 21,207 2020 17,629 2021 15,858 2022 12,114 2023 10,311 Thereafter through 2034 42,984 $ 120,103 |
Schedule of Direct or Sales Type Finance Leases [Table Text Block] | The following table presents the components of the investment in direct or sales type financing leases, included in loans in the Consolidated Balance Sheet, at the dates indicated (in thousands): June 30, 2019 December 31, 2018 Total minimum lease payments to be received $ 844,442 $ 808,921 Estimated unguaranteed residual value of leased assets 8,369 7,355 Gross investment in direct or sales type financing leases 852,811 816,276 Unearned income (83,943 ) (81,864 ) Initial direct costs 4,728 4,833 $ 773,596 $ 739,245 |
Schedule of future minimum lease payments under direct or sales type financing leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | As of June 30, 2019 , scheduled minimum rental payments under operating leases were as follows (in thousands): Years Ending December 31: 2019 (excluding the six months ending June 30, 2019) $ 34,159 2020 62,299 2021 52,949 2022 46,162 2023 37,951 Thereafter through 2034 109,933 $ 343,453 |
Operating and Direct Finance Lease Income | Lease income recognized for operating leases and direct or sales type finance leases follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Location of Lease Income on Consolidated Statements of Income Operating leases $ 17,005 $ 34,191 Non-interest income from lease financing Direct or sales type finance leases 5,489 10,798 Interest income on loans Total lease income $ 22,494 $ 44,989 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Interest Rate Contract Derivative Financial Instruments and Related Hedged Items | The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands): June 30, 2019 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.37% 3-Month Libor 3.7 $ 3,131,000 Other assets / Other liabilities $ — $ (1,485 ) Derivatives not designated as hedges: Pay-fixed interest rate swaps 4.09% Indexed to 1-month Libor 6.0 1,130,652 Other assets / Other liabilities 1,616 (16,236 ) Pay-variable interest rate swaps Indexed to 1-month Libor 4.09% 6.0 1,130,652 Other assets / Other liabilities 39,789 (1,530 ) Interest rate caps purchased, indexed to 1-month Libor 3.62% 0.9 80,313 Other assets — — Interest rate caps sold, indexed to 1-month Libor 3.62% 0.9 80,313 Other liabilities — — $ 5,552,930 $ 41,405 $ (19,251 ) December 31, 2018 Weighted Average Pay Rate Weighted Average Receive Rate Weighted Average Remaining Life in Years Notional Amount Balance Sheet Location Fair Value Hedged Item Asset Liability Derivatives designated as cash flow hedges: Pay-fixed interest rate swaps Variability of interest cash flows on variable rate borrowings 2.38% 3-Month Libor 4.0 $ 2,846,000 Other assets / Other liabilities $ 3,405 $ — Derivatives not designated as hedges: Pay-fixed interest rate swaps 4.10% Indexed to 1-month Libor 6.0 1,048,196 Other assets / Other liabilities 14,883 (6,991 ) Pay-variable interest rate swaps Indexed to 1-month Libor 4.10% 6.0 1,048,196 Other assets / Other liabilities 11,318 (16,874 ) Interest rate caps purchased, indexed to 1-month Libor 3.43% 1.2 98,407 Other assets 9 — Interest rate caps sold, indexed to 1-month Libor 3.43% 1.2 98,407 Other liabilities — (9 ) $ 5,139,206 $ 29,615 $ (23,874 ) |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table provides information about the amount of gain (loss) related to derivatives designated as cash flow hedges reclassified from AOCI into interest expense for the periods indicated (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Location of Gain (Loss) Reclassified from AOCI into Income Interest rate contracts $ 1,688 $ 728 $ 4,411 $ (211 ) Interest expense on borrowings |
Schedule of Interest Rate Swaps Subject to Master Netting Agreements | The Company does not offset assets and liabilities under master netting agreements for financial reporting purposes. Information on interest rate swaps subject to these agreements is as follows at the dates indicated (in thousands): June 30, 2019 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 1,616 $ — $ 1,616 $ (1,616 ) $ — $ — Derivative liabilities (17,721 ) — (17,721 ) 1,616 16,105 — $ (16,105 ) $ — $ (16,105 ) $ — $ 16,105 $ — December 31, 2018 Gross Amounts Offset in Balance Net Amounts Presented in Gross Amounts Not Offset in Balance Sheet Gross Amounts Recognized Derivative Instruments Collateral Pledged Net Amount Derivative assets $ 18,297 $ — $ 18,297 $ (5,264 ) $ (13,129 ) $ (96 ) Derivative liabilities (6,991 ) — (6,991 ) 5,264 436 (1,291 ) $ 11,306 $ — $ 11,306 $ — $ (12,693 ) $ (1,387 ) |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Schedule of Changes in AOCI | Changes in other comprehensive income are summarized as follows for the periods indicated (in thousands): Three Months Ended June 30, 2019 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ 31,737 $ (8,410 ) $ 23,326 $ (17,831 ) $ 4,725 $ (13,106 ) Amounts reclassified to gain on investment securities available for sale, net (3,914 ) 1,037 (2,877 ) (2,551 ) 676 (1,875 ) Net change in unrealized gains on investment securities available for sale 27,823 (7,373 ) 20,449 (20,382 ) 5,401 (14,981 ) Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period (50,637 ) 13,419 (37,218 ) 13,396 (3,550 ) 9,846 Amounts reclassified to interest expense on borrowings (1,688 ) 447 (1,241 ) (728 ) 193 (535 ) Net change in unrealized losses on derivative instruments (52,325 ) 13,866 (38,459 ) 12,668 (3,357 ) 9,311 Other comprehensive loss $ (24,502 ) $ 6,493 $ (18,010 ) $ (7,714 ) $ 2,044 $ (5,670 ) Six Months Ended June 30, 2019 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized gains on investment securities available for sale: Net unrealized holding gain (loss) arising during the period $ 61,147 $ (16,204 ) $ 44,943 $ (55,007 ) $ 14,577 $ (40,430 ) Amounts reclassified to gain on investment securities available for sale, net (8,231 ) 2,181 (6,050 ) (3,527 ) 935 (2,592 ) Net change in unrealized gains on investment securities available for sale 52,916 (14,023 ) 38,893 (58,534 ) 15,512 (43,022 ) Unrealized losses on derivative instruments: Net unrealized holding gain (loss) arising during the period (78,766 ) 20,873 (57,893 ) 40,325 (10,686 ) 29,639 Amounts reclassified to interest expense on borrowings (4,411 ) 1,169 (3,242 ) 211 (56 ) 155 Net change in unrealized losses on derivative instruments (83,177 ) 22,042 (61,135 ) 40,536 (10,742 ) 29,794 Other comprehensive loss $ (30,261 ) $ 8,019 $ (22,242 ) $ (17,998 ) $ 4,770 $ (13,228 ) |
Schedule of the Categories of AOCI and Changes Therein | The categories of AOCI and changes therein are presented below for the periods indicated (in thousands): Unrealized Gain (Loss) on Investment Securities Available for Sale Unrealized Gain (Loss) on Derivative Instruments Total Balance at December 31, 2018 $ 4,194 $ 679 $ 4,873 Other comprehensive loss 38,893 (61,135 ) (22,242 ) Balance at June 30, 2019 $ 43,087 $ (60,456 ) $ (17,369 ) Balance at December 31, 2017 $ 56,534 $ (1,548 ) $ 54,986 Cumulative effect of adoption of new accounting standards 9,187 (285 ) 8,902 Other comprehensive loss (43,022 ) 29,794 (13,228 ) Balance at June 30, 2018 $ 22,699 $ 27,961 $ 50,660 |
Equity Based Compensation (Tabl
Equity Based Compensation (Tables) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Payment Arrangement [Abstract] | ||
Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block] | A summary of activity related to executive share-based awards for the periods indicated follows: RSU PSU Unvested executive share-based awards outstanding, December 31, 2018 90,612 99,874 Granted 73,062 73,062 Unvested executive share-based awards outstanding, June 30, 2019 163,674 172,936 Unvested executive share-based awards outstanding, December 31, 2017 91,171 105,721 Granted 52,026 52,026 Unvested executive share-based awards outstanding, June 30, 2018 143,197 157,747 The total liability for these executive share-based awards was $4.0 million at June 30, 2019 . The total unrecognized compensation cost of $7.2 million for unvested executive share-based awards at June 30, 2019 will be recognized over a weighted average remaining period of 2.28 years . | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Option Awards A summary of activity related to stock option awards for the six months ended June 30, 2019 and 2018 follows: Number of Option Awards Weighted Average Exercise Price Option awards outstanding, December 31, 2018 964,840 $ 26.53 Exercised (3,910 ) 11.14 Canceled or forfeited (1,960 ) 63.74 Option awards outstanding and exercisable, June 30, 2019 958,970 $ 26.52 Option awards outstanding, December 31, 2017 1,270,688 $ 26.93 Exercised (291,689 ) 26.94 Option awards outstanding, June 30, 2018 978,999 $ 27.07 The intrinsic value of options exercised was $0.1 million and $4.6 million , respectively, during the six months ended June 30, 2019 and 2018 . The related tax benefit of options exercised was immaterial for both the six months ended June 30, 2019 and 2018 . | |
Schedule of Nonvested Share Activity [Table Text Block] | Unvested share awards A summary of activity related to unvested share awards follows for the periods indicated: Number of Share Awards Weighted Average Grant Date Fair Value Unvested share awards outstanding, December 31, 2018 1,186,238 $ 38.86 Granted 582,353 36.57 Vested (533,125 ) 37.67 Canceled or forfeited (115,825 ) 39.11 Unvested share awards outstanding, June 30, 2019 1,119,641 $ 38.21 Unvested share awards outstanding, December 31, 2017 1,108,477 $ 36.06 Granted 640,828 40.34 Vested (513,948 ) 34.68 Canceled or forfeited (48,907 ) 38.21 Unvested share awards outstanding, June 30, 2018 1,186,450 $ 38.88 Unvested share awards are generally valued at the closing price of the Company's common stock on the date of grant. All shares granted prior to 2019 vest in equal annual installments over a period of three years from the date of grant. All shares granted in 2019 to Company employees vest in equal annual installments over a period of four years from the date of grant. Shares granted to the Company's Board of Directors vest over a period of one year. The following table summarizes the closing price of the Company's stock on the date of grant for shares granted and the aggregate grant date fair value of shares vesting for the periods indicated (in thousands, except per share data): Six Months Ended June 30, 2019 2018 Range of the closing price on date of grant $34.23 - $36.65 $40.28 - $42.80 Aggregate grant date fair value of shares vesting $ 20,083 $ 17,825 The total unrecognized compensation cost of $32.3 million for all unvested share awards outstanding at June 30, 2019 will be recognized over a weighted average remaining period of 2.42 years . |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present assets and liabilities measured at fair value on a recurring basis at the dates indicated (in thousands): June 30, 2019 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 50,213 $ — $ — $ 50,213 U.S. Government agency and sponsored enterprise residential MBS — 2,227,795 — 2,227,795 U.S. Government agency and sponsored enterprise commercial MBS — 381,104 — 381,104 Private label residential MBS and CMOs — 1,369,656 25,526 1,395,182 Private label commercial MBS — 1,557,953 — 1,557,953 Single family rental real estate-backed securities — 392,306 — 392,306 Collateralized loan obligations — 1,198,282 — 1,198,282 Non-mortgage asset-backed securities — 157,817 — 157,817 State and municipal obligations — 279,327 — 279,327 SBA securities — 421,773 — 421,773 Other debt securities — — 4,781 4,781 Marketable equity securities 62,175 — — 62,175 Servicing rights — — 9,435 9,435 Derivative assets — 41,405 — 41,405 Total assets at fair value $ 112,388 $ 8,027,418 $ 39,742 $ 8,179,548 Derivative liabilities $ — $ (19,251 ) $ — $ (19,251 ) Total liabilities at fair value $ — $ (19,251 ) $ — $ (19,251 ) December 31, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. Treasury securities $ 39,873 $ — $ — $ 39,873 U.S. Government agency and sponsored enterprise residential MBS — 1,897,474 — 1,897,474 U.S. Government agency and sponsored enterprise commercial MBS — 374,787 — 374,787 Private label residential MBS and CMOs — 1,499,514 34,684 1,534,198 Private label commercial MBS — 1,485,716 — 1,485,716 Single family rental real estate-backed securities — 402,458 — 402,458 Collateralized loan obligations — 1,235,198 — 1,235,198 Non-mortgage asset-backed securities — 204,067 — 204,067 State and municipal obligations — 398,429 — 398,429 SBA securities — 519,313 — 519,313 Other debt securities — — 4,846 4,846 Marketable securities 60,519 — — 60,519 Servicing rights — — 9,525 9,525 Derivative assets — 29,615 — 29,615 Total assets at fair value $ 100,392 $ 8,046,571 $ 49,055 $ 8,196,018 Derivative liabilities $ — $ (23,874 ) $ — $ (23,874 ) Total liabilities at fair value $ — $ (23,874 ) $ — $ (23,874 ) |
Reconciliation of the Changes in the Fair Value of Assets and Liabilities Measured on a Recurring Basis, Unobservable Input | The following table reconciles changes in the fair value of assets and liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy during the periods indicated (in thousands): Three Months Ended June 30, 2019 2018 Private Label Other Debt Servicing Rights Private Label Other Debt Servicing Rights Balance at beginning of period $ 27,904 $ 4,818 $ 9,585 $ 44,120 $ 5,714 $ 33,432 Gains (losses) for the period included in: Net income 196 — (486 ) — — (1,868 ) Other comprehensive income (800 ) (32 ) — (963 ) (91 ) — Discount accretion 941 55 — 714 182 — Purchases or additions — — 336 — — 4,351 Sales (561 ) — — — — — Settlements (2,154 ) (60 ) (3,307 ) (224 ) — Transfers into level 3 — — — — — — Transfers out of level 3 — — — — — — Balance at end of period $ 25,526 $ 4,781 $ 9,435 $ 40,564 $ 5,581 $ 35,915 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (320 ) $ (32 ) $ (933 ) $ (91 ) Six Months Ended June 30, 2019 2018 Private Label Other Debt Servicing Rights Private Label Other Debt Servicing Rights Balance at beginning of period $ 34,684 $ 4,846 $ 9,525 $ 52,214 $ 5,329 $ 30,737 Gains (losses) for the period included in: Net income 1,630 — (1,148 ) 1,319 — (1,621 ) Other comprehensive income (4,064 ) (67 ) — (3,461 ) 287 — Discount accretion 3,044 70 — 1,585 213 — Purchases or additions — — 1,058 — — 6,799 Sales (5,531 ) — — (5,120 ) — — Settlements (4,237 ) (68 ) — (5,973 ) (248 ) — Transfers into level 3 — — — — — — Transfers out of level 3 — — — — — — Balance at end of period $ 25,526 $ 4,781 $ 9,435 $ 40,564 $ 5,581 $ 35,915 Change in unrealized gains or losses included in OCI for assets held at the end of the reporting period $ (731 ) $ (67 ) $ (1,992 ) $ 287 |
Valuation Techniques and Unobservable Inputs Used in the Valuation of Financial Instruments Falling Within Level 3 of the Fair Value Hierarchy | vides information about the valuation techniques and unobservable inputs used in the valuation of private label residential MBS and CMOs falling within level 3 of the fair value hierarchy as of June 30, 2019 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) June 30, 2019 Investment grade $ 13,199 Discounted cash flow Voluntary prepayment rate 5.00% - 27.20% (15.70%) Probability of default 0.10% - 10.00% (2.09%) Loss severity 15.00% - 100.00% (41.05%) Discount rate 2.40% - 6.15% (3.42%) Non-investment grade $ 12,327 Discounted cash flow Voluntary prepayment rate 7.10% - 30.00% (15.48%) Probability of default 0.00% - 5.56% (2.26%) Loss severity 15.00% - 100.00% (29.87%) Discount rate 1.59% - 12.15% (4.61%) The significant unobservable inputs impacting the fair value measurement of private label residential MBS and CMOs include voluntary prepayment rates, probability of default, loss severity given default and discount rates. Generally, increases in probability of default, loss severity or discount rates would result in a lower fair value measurement. Alternatively, decreases in probability of default, loss severity or discount rates would result in a higher fair value measurement. For securities with less favorable credit characteristics, decreases in voluntary prepayment speeds may be interpreted as a deterioration in the overall credit quality of the underlying collateral and as such, lead to lower fair value measurements. The fair value measurements of those securities with higher levels of subordination will be less sensitive to changes in these unobservable inputs other than discount rates, while securities with lower levels of subordination will show a higher degree of sensitivity to changes in these unobservable inputs other than discount rates. Generally, a change in the assumption used for probability of default is accompanied by a directionally similar change in the assumption used for loss severity given default and a directionally opposite change in the assumption used for voluntary prepayment rate. The following table provides information about the valuation techniques and significant unobservable inputs used in the valuation of servicing rights as of June 30, 2019 (dollars in thousands): Fair Value at Valuation Technique Unobservable Input Range (Weighted Average) June 30, 2019 Commercial servicing rights $ 9,435 Discounted cash flow Prepayment rate 0.60% - 19.91% (14.11%) Discount rate 3.61% - 16.81% (11.28%) |
Schedule of Assets for Which Nonrecurring Changes in Fair Value have been Recorded | sent the carrying value of assets for which non-recurring changes in fair value have been recorded for the periods indicated (in thousands): June 30, 2019 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended Six Months Ended June 30, 2019 OREO and repossessed assets $ — $ — $ 1,557 $ 1,557 $ (203 ) $ (221 ) Impaired loans $ — $ — $ 15,385 $ 15,385 $ (529 ) $ (279 ) June 30, 2018 Losses from Fair Value Changes Level 1 Level 2 Level 3 Total Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 OREO and repossessed assets $ — $ 1,530 $ 432 $ 1,962 $ (396 ) $ (1,801 ) Impaired loans $ — $ 26,604 $ 54,089 $ 80,693 $ (10,966 ) $ (14,157 ) Included in the tables above are impaired taxi medallion loans with carrying values of $66.1 million at June 30, 2018 . Losses from fair value changes included in the tables above include $12.7 million recognized on impaired taxi medallion loans during the six months ended June 30, 2018 . In addition, OREO and repossessed assets reported above included repossessed taxi medallions with carrying values of $1.5 million at June 30, 2018 . Losses of $0.1 million and $0.6 million were recognized on repossessed taxi medallions during the three and six months ended June 30, 2018 . |
Schedule of the Carrying Value and Fair Value of Financial Instruments | ents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands): June 30, 2019 December 31, 2018 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 442,833 $ 442,833 $ 382,073 $ 382,073 Investment securities 1/2/3 8,138,708 8,139,257 8,166,878 8,167,127 Non-marketable equity securities 2 289,789 289,789 267,052 267,052 Loans held for sale 2 224,759 232,000 36,992 39,931 Loans 3 22,479,708 22,815,851 21,867,077 21,868,258 Derivative assets 2 41,405 41,405 29,615 29,615 Liabilities: Demand, savings and money market deposits 2 $ 16,841,684 $ 16,841,684 $ 16,654,465 $ 16,654,465 Time deposits 2 7,080,716 7,093,055 6,819,758 6,820,355 Federal funds purchased 2 99,000 99,000 175,000 175,000 FHLB advances 2 5,331,000 5,353,836 4,796,000 4,810,446 Notes and other borrowings 2 403,661 442,782 402,749 416,142 Derivative liabilities 2 19,251 19,251 23,874 23,874 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of the Total Lending Related Commitments Outstanding | Total lending related commitments outstanding at June 30, 2019 were as follows (in thousands): Commitments to fund loans $ 450,898 Commitments to purchase loans 660,965 Unfunded commitments under lines of credit 2,950,555 Commercial and standby letters of credit 84,731 $ 4,147,149 |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation of Basic and Diluted Earnings per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Numerator: | ||||
Net income | $ 81,451 | $ 89,900 | $ 147,423 | $ 175,135 |
Distributed and undistributed earnings allocated to participating securities | (3,382) | (3,463) | (6,074) | (6,676) |
Income allocated to common stockholders for basic earnings per common share | $ 78,069 | $ 86,437 | $ 141,349 | $ 168,459 |
Denominator: | ||||
Weighted average common shares outstanding | 97,451,019 | 106,170,834 | 98,150,014 | 106,347,378 |
Less average unvested stock awards | (1,174,339) | (1,222,436) | (1,173,137) | (1,165,750) |
Weighted average shares for basic earnings per common share | 96,276,680 | 104,948,398 | 96,976,877 | 105,181,628 |
Basic earnings per common share | $ 0.81 | $ 0.82 | $ 1.46 | $ 1.60 |
Numerator: | ||||
Income allocated to common stockholders for basic earnings per common share | $ 78,069 | $ 86,437 | $ 141,349 | $ 168,459 |
Adjustment for earnings reallocated from participating securities | 9 | 12 | 13 | 23 |
Income used in calculating diluted earnings per common share | $ 78,078 | $ 86,449 | $ 141,362 | $ 168,482 |
Denominator: | ||||
Weighted average shares for basic earnings per common share | 96,276,680 | 104,948,398 | 96,976,877 | 105,181,628 |
Dilutive effect of stock options and certain share-based awards | 345,899 | 522,997 | 312,821 | 519,598 |
Weighted average shares for diluted earnings per common share | 96,622,579 | 105,471,395 | 97,289,698 | 105,701,226 |
Diluted earnings per common share | $ 0.81 | $ 0.82 | $ 1.45 | $ 1.59 |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Summary of Significant Accounting Policies [Line Items] | ||
Operating Lease, Liability | $ 96,908 | |
Operating Lease, Right-of-Use Asset | $ 87,596 | $ 95,000 |
Accounting Standards Update 2016-02 [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Operating Lease, Liability | $ 104,000 |
Earnings Per Common Share (Pote
Earnings Per Common Share (Potentially Dilutive Securities Outstanding) (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Unvested shares and share units | ||||
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items] | ||||
Potentially dilutive securities outstanding (in Shares) | 1,119,641 | 1,644,336 | 1,119,641 | 1,644,336 |
Stock options and warrants | ||||
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items] | ||||
Potentially dilutive securities outstanding (in Shares) | 1,850,279 | 0 | 1,850,279 |
Earnings Per Common Share Earni
Earnings Per Common Share Earnings per Common Share (Narrative) (Details) | Jun. 30, 2019shares |
Earnings Per Share [Abstract] | |
Dividend Equivalent Rights | 3,023,314 |
Investment Securities (Schedule
Investment Securities (Schedule of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 8,007,913 | $ 8,090,654 |
Gross Unrealized Gains | 80,409 | 49,030 |
Gross Unrealized Losses | (21,789) | (43,325) |
Investment securities available for sale, at fair value | 8,066,533 | 8,096,359 |
Investment securities held to maturity | 10,000 | |
Investment securities (including securities recorded at fair value of $8,128,708 and $8,156,878) | 8,138,708 | 8,166,878 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 49,992 | 39,885 |
Gross Unrealized Gains | 221 | 2 |
Gross Unrealized Losses | 0 | (14) |
Investment securities available for sale, at fair value | 50,213 | 39,873 |
U.S. Government agency and sponsored enterprise residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 2,222,327 | 1,885,302 |
Gross Unrealized Gains | 14,446 | 16,580 |
Gross Unrealized Losses | (8,978) | (4,408) |
Investment securities available for sale, at fair value | 2,227,795 | 1,897,474 |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 378,167 | 374,569 |
Gross Unrealized Gains | 4,057 | 1,293 |
Gross Unrealized Losses | (1,120) | (1,075) |
Investment securities available for sale, at fair value | 381,104 | 374,787 |
Private label residential mortgage-backed securities and CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,374,008 | 1,539,058 |
Gross Unrealized Gains | 22,256 | 10,138 |
Gross Unrealized Losses | (1,082) | (14,998) |
Investment securities available for sale, at fair value | 1,395,182 | 1,534,198 |
Private label commercial mortgage-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,549,733 | 1,486,835 |
Gross Unrealized Gains | 8,462 | 5,021 |
Gross Unrealized Losses | (242) | (6,140) |
Investment securities available for sale, at fair value | 1,557,953 | 1,485,716 |
Single family rental real estate-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 387,104 | 406,310 |
Gross Unrealized Gains | 5,392 | 266 |
Gross Unrealized Losses | (190) | (4,118) |
Investment securities available for sale, at fair value | 392,306 | 402,458 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,205,295 | 1,239,355 |
Gross Unrealized Gains | 766 | 1,060 |
Gross Unrealized Losses | (7,779) | (5,217) |
Investment securities available for sale, at fair value | 1,198,282 | 1,235,198 |
Non-mortgage asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 155,542 | 204,372 |
Gross Unrealized Gains | 2,321 | 1,031 |
Gross Unrealized Losses | (46) | (1,336) |
Investment securities available for sale, at fair value | 157,817 | 204,067 |
State and municipal obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 265,856 | 398,810 |
Gross Unrealized Gains | 13,471 | 3,684 |
Gross Unrealized Losses | 0 | (4,065) |
Investment securities available for sale, at fair value | 279,327 | 398,429 |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 418,494 | 514,765 |
Gross Unrealized Gains | 5,631 | 6,502 |
Gross Unrealized Losses | (2,352) | (1,954) |
Investment securities available for sale, at fair value | 421,773 | 519,313 |
Other debt securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,395 | 1,393 |
Gross Unrealized Gains | 3,386 | 3,453 |
Gross Unrealized Losses | 0 | 0 |
Investment securities available for sale, at fair value | 4,781 | 4,846 |
Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities held to maturity | 10,000 | |
Equity Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Equity Securities, FV-NI | $ 62,175 | $ 60,519 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019USD ($)security | Jun. 30, 2018security | Dec. 31, 2018USD ($)security | |
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Restricted | $ | $ 2,200,000 | $ 2,100,000 | |
Number of held-to-maturity securities | 1 | 1 | |
Investment securities held to maturity | $ | $ 10,000 | ||
Number of securities in unrealized loss positions (in Securities) | 126 | ||
Number of securities which impairment considered insignificant (in Securities) | 48 | ||
Available-for-sale securities, gross unrealized loss, considered insignificant | $ | $ 422 | ||
Number of securities determined to be other than temporarily impaired during the period | 0 | 0 | |
U.S. Government agency and sponsored enterprise residential MBS | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 36 | ||
U.S. Government agency and sponsored enterprise commercial MBS | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 4 | ||
Private label residential mortgage-backed securities and CMOs | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 8 | ||
Private label commercial mortgage-backed securities | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 3 | ||
Single family rental real estate-backed securities | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 2 | ||
Collateralized loan obligations | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 16 | ||
Non-mortgage asset-backed securities | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 1 | ||
SBA securities | |||
Debt Securities, Available-for-sale [Line Items] | |||
Number of securities in unrealized loss positions (in Securities) | 8 | ||
Debt Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Investment securities held to maturity | $ | $ 10,000 |
Investment Securities (Schedu_2
Investment Securities (Schedule of Maturities of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 767,598 | |
Due after one year through five years, Amortized Cost | 4,350,779 | |
Due after five years through ten years, Amortized Cost | 2,457,216 | |
Due after ten years, Amortized Cost | 432,320 | |
Amortized Cost | 8,007,913 | $ 8,090,654 |
Due in one year or less, Fair Value | 775,378 | |
Due after one year through five years, Fair Value | 4,371,075 | |
Due after five years through ten years, Fair Value | 2,480,114 | |
Due after ten years, Fair Value | 439,966 | |
Fair Value | $ 8,066,533 | $ 8,096,359 |
Investment Securities (Schedu_3
Investment Securities (Schedule of Gains and Losses on the Sale and Exchange of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds from sale of investment securities available for sale | $ 850,527 | $ 569,387 | $ 1,626,250 | $ 836,317 |
Gross realized gains: | 4,631 | 2,554 | 8,956 | 6,041 |
Gross realized losses: | (716) | (4) | (724) | (2,514) |
Net realized gain | 3,915 | 2,550 | 8,232 | 3,527 |
Unrealized Gain (Loss) on Securities | 201 | (408) | 1,669 | (1,021) |
Gain on investment securities, net | $ 4,116 | $ 2,142 | $ 9,901 | $ 2,506 |
Investment Securities (Schedu_4
Investment Securities (Schedule of the Aggregate Fair Value and Amount by which Amortized Cost Exceeds Fair Value for Investment Securities that are in Unrealized Loss Positions) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 2,109,747 | $ 3,658,094 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (15,702) | (28,077) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 570,147 | 593,775 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (6,087) | (15,248) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,679,894 | 4,251,869 |
Gross Unrealized Losses | (21,789) | (43,325) |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14,921 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (14) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 14,921 | |
Gross Unrealized Losses | 0 | (14) |
U.S. Government agency and sponsored enterprise residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 919,284 | 450,666 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6,994) | (1,828) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 140,310 | 87,311 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,984) | (2,580) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,059,594 | 537,977 |
Gross Unrealized Losses | (8,978) | (4,408) |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 99,590 | 146,096 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,083) | (352) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6,477 | 25,815 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (37) | (723) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 106,067 | 171,911 |
Gross Unrealized Losses | (1,120) | (1,075) |
Private label residential mortgage-backed securities and CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 121,628 | 759,921 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (180) | (7,073) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 204,205 | 278,108 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (902) | (7,925) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 325,833 | 1,038,029 |
Gross Unrealized Losses | (1,082) | (14,998) |
Private label commercial mortgage-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 100,262 | 742,092 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (220) | (5,371) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 14,780 | 39,531 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (22) | (769) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 115,042 | 781,623 |
Gross Unrealized Losses | (242) | (6,140) |
Single family rental real estate-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 142,824 | 234,305 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (148) | (1,973) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 22,946 | 85,282 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (42) | (2,145) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 165,770 | 319,587 |
Gross Unrealized Losses | (190) | (4,118) |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 623,797 | 749,047 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (5,981) | (5,217) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 80,202 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,798) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 703,999 | 749,047 |
Gross Unrealized Losses | (7,779) | (5,217) |
Non-mortgage asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 39,505 | 136,100 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (46) | (1,336) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 39,505 | 136,100 |
Gross Unrealized Losses | (46) | (1,336) |
State and municipal obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 208,971 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3,522) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 46,247 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (543) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 255,218 | |
Gross Unrealized Losses | 0 | (4,065) |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 62,857 | 215,975 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,050) | (1,391) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 101,227 | 31,481 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,302) | (563) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 164,084 | 247,456 |
Gross Unrealized Losses | $ (2,352) | $ (1,954) |
Loans and Allowance for Loan _3
Loans and Allowance for Loan and Lease Losses (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable Investment Past Due [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 137,691 | $ 137,691 | $ 116,531 | ||
Purchases of loans | 894,235 | $ 604,278 | |||
Recorded investment of real estate loans pledged as security for FHLB advances | 9,900,000 | 9,900,000 | |||
Unpaid principal balance of ACI loans | 367,000 | 367,000 | 408,000 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 2,500 | $ 1,800 | 4,300 | 3,000 | |
1-4 single family residential | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Purchases of loans | 589,000 | 271,000 | 894,000 | 604,000 | |
Residential and Other Consumer | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 14,572 | 14,572 | 7,690 | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 5,000 | 5,000 | 6,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | 1,600 | 1,600 | |||
Commercial | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 123,119 | 123,119 | 108,841 | ||
Minimum | Commercial | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Financing receivable credit quality indicator, the value at which relationships are reevaluated at least annually | 1,000 | 1,000 | |||
Maximum [Member] | Commercial | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Financing receivable credit quality indicator, the value at which relationships are reevaluated at least annually | 3,000 | 3,000 | |||
US Government Insured Loan Program [Member] | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 21,800 | 21,800 | 13,100 | ||
US Government Agency Insured Loans [Member] | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Purchases of loans | 151,000 | $ 72,000 | 284,000 | $ 112,000 | |
US Government Agency Insured Loans [Member] | Residential and Other Consumer | |||||
Financing Receivable Investment Past Due [Line Items] | |||||
Mortgage Loans in Process of Foreclosure, Amount | $ 93,000 | $ 93,000 | $ 85,000 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan and Lease Losses (Schedule of Loans) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Document Period End Date | Jun. 30, 2019 | |
Loans and lease receivable, gross | $ 22,540,708 | $ 21,932,992 |
Loans and lease receivable premiums, discounts and deferred fees and costs, net | 51,141 | 44,016 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 22,591,849 | 21,977,008 |
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | |
Allowance for loan and lease losses | (112,141) | (109,931) |
Loans and lease receivable, net | $ 22,479,708 | $ 21,867,077 |
Percent of Total | 100.00% | 100.00% |
1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 4,830,943 | $ 4,606,828 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 4,897,552 | $ 4,664,920 |
Percent of Total | 21.40% | 21.00% |
Home equity loans and lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 14,533 | $ 17,369 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 1,445 | $ 1,393 |
Percent of Total | 0.10% | 0.10% |
Other Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 13,072 | $ 15,947 |
Residential and Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | 5,200,207 | 4,889,898 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 5,267,788 | $ 4,948,989 |
Percent of Total | 23.10% | 22.30% |
Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 2,381,346 | $ 2,583,331 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 2,383,116 | $ 2,585,421 |
Percent of Total | 10.60% | 11.80% |
Commercial real estate, Non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 4,945,017 | $ 4,700,188 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 4,934,057 | $ 4,688,880 |
Percent of Total | 21.90% | 21.40% |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 237,222 | $ 227,134 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 236,894 | $ 226,840 |
Percent of Total | 1.10% | 1.00% |
Commercial real estate, Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 2,080,578 | $ 2,122,381 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 2,077,817 | $ 2,119,880 |
Percent of Total | 9.20% | 9.70% |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 5,164,571 | $ 4,801,226 |
Percent of Total | 22.90% | 21.90% |
Commercial Lending Subsidiaries | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 2,531,767 | $ 2,608,834 |
Percent of Total | 11.20% | 11.90% |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 17,340,501 | $ 17,043,094 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 17,324,061 | $ 17,028,019 |
Percent of Total | 76.90% | 77.70% |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | $ 191,573 | $ 208,148 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 191,573 | 208,148 |
Financial Asset Acquired with Credit Deterioration [Member] | Residential and Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | 174,029 | 190,223 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 174,029 | 190,223 |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | 17,544 | 17,925 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 17,544 | 17,925 |
US Government Agency Insured Loans [Member] | 1-4 single family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and lease receivable, gross | 354,731 | 265,701 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 355,719 | $ 266,729 |
Percent of Total | 1.60% | 1.20% |
Loans and Allowance for Loan _5
Loans and Allowance for Loan and Lease Losses (Schedule for Accretable Yield Rollforward) (Details) - Financial Asset Acquired with Credit Deterioration [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Beginning Balance | $ 291,847 | $ 455,059 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications (to) from Nonaccretable Difference | (429) | 128,499 |
Accretion | (33,103) | (369,915) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Period Increase (Decrease) | (6,929) | 78,204 |
Ending Balance | $ 251,386 | $ 291,847 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan and Lease Losses (ALLL Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning of period | $ 114,703 | $ 137,476 | $ 109,931 | $ 144,795 |
Provision for loan losses | (2,747) | 8,995 | 7,534 | 12,142 |
Charge-offs | (1,711) | (12,268) | (7,844) | (22,900) |
Recoveries | 1,896 | 768 | 2,520 | 934 |
Allowance for loan and lease losses, end of period | 112,141 | 134,971 | 112,141 | 134,971 |
Residential and Other Consumer | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning of period | 10,952 | 10,832 | 10,788 | 10,720 |
Provision for loan losses | 131 | (280) | 281 | 94 |
Charge-offs | 0 | 222 | 0 | 504 |
Recoveries | 153 | 8 | 167 | 28 |
Allowance for loan and lease losses, end of period | 11,236 | 10,338 | 11,236 | 10,338 |
Commercial | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning of period | 103,751 | 126,644 | 99,143 | 134,075 |
Provision for loan losses | (2,878) | 9,275 | 7,253 | 12,048 |
Charge-offs | (1,711) | 12,046 | (7,844) | 22,396 |
Recoveries | 1,743 | 760 | 2,353 | 906 |
Allowance for loan and lease losses, end of period | $ 100,905 | $ 124,633 | $ 100,905 | $ 124,633 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Balance of ALLL and Related Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss | $ 112,141 | $ 114,703 | $ 109,931 | $ 134,971 | $ 137,476 | $ 144,795 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 9,496 | 12,277 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 102,645 | 97,654 | ||||
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | |||||
Financing Receivable, Individually Evaluated for Impairment | 137,691 | 116,531 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 22,262,585 | 21,652,329 | ||||
Loans net of premiums, discounts and deferred fees and costs | 22,591,849 | 21,977,008 | ||||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 22,591,849 | 21,977,008 | ||||
Residential Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss | 11,236 | 10,952 | 10,788 | 10,338 | 10,832 | 10,720 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 15 | 134 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 11,221 | 10,654 | ||||
Financing Receivable, Individually Evaluated for Impairment | 14,572 | 7,690 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 5,079,187 | 4,751,076 | ||||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 5,267,788 | 4,948,989 | ||||
Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss | 100,905 | $ 103,751 | 99,143 | $ 124,633 | $ 126,644 | $ 134,075 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 9,481 | 12,143 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 91,424 | 87,000 | ||||
Financing Receivable, Individually Evaluated for Impairment | 123,119 | 108,841 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 17,183,398 | 16,901,253 | ||||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 17,324,061 | 17,028,019 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 191,573 | 208,148 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Residential Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 174,029 | 190,223 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 17,544 | $ 17,925 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan and Lease Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, Total | $ 137,691 | $ 116,531 |
UPB, Total | 137,651 | 116,284 |
Related Specific Allowance, Impaired loans | 9,496 | 12,277 |
1-4 single family residential | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 10,005 | 5,724 |
Recorded Investment, With a specific allowance recorded | 4,567 | 1,966 |
UPB, With no specific allowance recorded | 9,922 | 5,605 |
UPB, With a specific allowance recorded | 4,496 | 1,941 |
Related Specific Allowance, Impaired loans | 15 | 134 |
US Government Agency Insured Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 9,900 | 3,500 |
Residential and Other Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, Total | 14,572 | 7,690 |
UPB, Total | 14,418 | 7,546 |
Related Specific Allowance, Impaired loans | 15 | 134 |
Multi-family | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 24,834 | 25,560 |
UPB, With no specific allowance recorded | 24,866 | 25,592 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 26,101 | 12,293 |
Recorded Investment, With a specific allowance recorded | 0 | 1,666 |
UPB, With no specific allowance recorded | 26,134 | 12,209 |
UPB, With a specific allowance recorded | 0 | 1,667 |
Related Specific Allowance, Impaired loans | 0 | 731 |
Construction and land | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 9,418 | 9,923 |
UPB, With no specific allowance recorded | 9,421 | 9,925 |
Commercial real estate, Owner occupied | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 14,791 | 9,007 |
Recorded Investment, With a specific allowance recorded | 0 | 3,316 |
UPB, With no specific allowance recorded | 14,890 | 9,024 |
UPB, With a specific allowance recorded | 0 | 3,322 |
Related Specific Allowance, Impaired loans | 0 | 844 |
Commercial and Industrial Sector [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 8,432 | 13,514 |
Recorded Investment, With a specific allowance recorded | 24,522 | 10,939 |
UPB, With no specific allowance recorded | 8,436 | 13,519 |
UPB, With a specific allowance recorded | 24,524 | 10,946 |
Related Specific Allowance, Impaired loans | 6,533 | 3,831 |
Commercial Lending Subsidiaries | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no specific allowance recorded | 5,205 | 3,152 |
Recorded Investment, With a specific allowance recorded | 9,816 | 19,471 |
UPB, With no specific allowance recorded | 5,226 | 3,149 |
UPB, With a specific allowance recorded | 9,736 | 19,385 |
Related Specific Allowance, Impaired loans | 2,948 | 6,737 |
Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, Total | 123,119 | 108,841 |
UPB, Total | 123,233 | 108,738 |
Related Specific Allowance, Impaired loans | $ 9,481 | $ 12,143 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Schedule of Average Recorded Investment in Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | $ 135,514 | $ 180,002 | $ 130,222 | $ 179,689 |
1-4 single family residential | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 12,732 | 6,932 | 11,011 | 5,764 |
Multi-family | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 25,066 | 26,260 | 25,248 | 25,490 |
Commercial real estate, Non-owner occupied | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 24,599 | 14,123 | 21,563 | 13,499 |
Construction and land | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 9,604 | 5,244 | 9,730 | 4,196 |
Commercial real estate, Owner occupied | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 12,741 | 16,751 | 12,124 | 19,175 |
Commercial and Industrial Sector [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 32,690 | 109,186 | 30,564 | 109,749 |
Taxi medallion [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 93,000 | 97,000 | ||
Commercial Lending Subsidiaries | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | 18,082 | 1,506 | 19,982 | 1,816 |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment in impaired loans | $ 122,782 | $ 173,070 | $ 119,211 | $ 173,925 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan and Lease Losses (Schedule of Recorded Investment in Loans on Non-Accrual Status) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, 90 Days or More Past Due, Still Accruing | $ 0 | $ 0 | $ 700 | ||
Financing Receivable, Nonaccrual | 138,153 | 138,153 | 129,243 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | $ 2,900 | $ 9,600 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 2,500 | $ 1,800 | 4,300 | $ 3,000 | |
1-4 single family residential | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 10,807 | 10,807 | 6,316 | ||
Home equity loans and lines of credit | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 30 | 30 | 0 | ||
Other Consumer Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 277 | 277 | 288 | ||
Residential and Other Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Mortgage Loans in Process of Foreclosure, Amount | 1,600 | 1,600 | |||
Financing Receivable, Nonaccrual | 11,114 | 11,114 | 6,604 | ||
Multi-family | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 24,834 | 24,834 | 25,560 | ||
Commercial real estate, Non-owner occupied | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 27,623 | 27,623 | 16,050 | ||
Construction and land | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 9,418 | 9,418 | 9,923 | ||
Commercial real estate, Owner occupied | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 21,752 | 21,752 | 19,789 | ||
Commercial and Industrial Sector [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 27,176 | 27,176 | 28,584 | ||
Commercial Lending Subsidiaries | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 16,236 | 16,236 | 22,733 | ||
Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | 127,039 | 127,039 | 122,639 | ||
US Government Insured Loan Program [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Nonaccrual | $ 28,400 | $ 28,400 | $ 17,800 |
Loans and Allowance for Loan_11
Loans and Allowance for Loan and Lease Losses (Schedule of Credit Exposure for Loans Based on Original LTV and FICO Score) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Document Period End Date | Jun. 30, 2019 | |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 22,591,849 | $ 21,977,008 |
Residential and Other Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 5,267,788 | 4,948,989 |
1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 4,897,552 | 4,664,920 |
Excluding FSB Loans [Domain] | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 4,713,555 | 4,463,544 |
Excluding FSB Loans [Domain] | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 455,089 | 400,665 |
Excluding FSB Loans [Domain] | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 502,555 | 471,241 |
Excluding FSB Loans [Domain] | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 810,138 | 779,057 |
Excluding FSB Loans [Domain] | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,945,773 | 2,812,581 |
Excluding FSB Loans [Domain] | 60% or less | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,222,730 | 1,241,125 |
Excluding FSB Loans [Domain] | 60% or less | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 110,475 | 105,812 |
Excluding FSB Loans [Domain] | 60% or less | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 124,463 | 123,877 |
Excluding FSB Loans [Domain] | 60% or less | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 190,874 | 197,492 |
Excluding FSB Loans [Domain] | 60% or less | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 796,918 | 813,944 |
Excluding FSB Loans [Domain] | 60% - 70% | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,064,981 | 998,379 |
Excluding FSB Loans [Domain] | 60% - 70% | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 139,870 | 120,982 |
Excluding FSB Loans [Domain] | 60% - 70% | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 120,664 | 109,207 |
Excluding FSB Loans [Domain] | 60% - 70% | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 178,995 | 170,531 |
Excluding FSB Loans [Domain] | 60% - 70% | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 625,452 | 597,659 |
Excluding FSB Loans [Domain] | 70% - 80% | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,180,873 | 1,998,442 |
Excluding FSB Loans [Domain] | 70% - 80% | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 183,277 | 156,519 |
Excluding FSB Loans [Domain] | 70% - 80% | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 221,490 | 203,121 |
Excluding FSB Loans [Domain] | 70% - 80% | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 400,406 | 374,311 |
Excluding FSB Loans [Domain] | 70% - 80% | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,375,700 | 1,264,491 |
Excluding FSB Loans [Domain] | More than 80% | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 244,971 | 225,598 |
Excluding FSB Loans [Domain] | More than 80% | FICO, 720 or less | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 21,467 | 17,352 |
Excluding FSB Loans [Domain] | More than 80% | FICO, 721 to 740 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 35,938 | 35,036 |
Excluding FSB Loans [Domain] | More than 80% | FICO, 741 to 760 | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 39,863 | 36,723 |
Excluding FSB Loans [Domain] | More than 80% | FICO, 761 or greater | 1-4 single family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 147,703 | $ 136,487 |
Loans and Allowance for Loan_12
Loans and Allowance for Loan and Lease Losses (Schedule of Commercial Credit Exposure Based on Internal Risk Ratings) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 22,591,849 | $ 21,977,008 |
Multi-family | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,383,116 | 2,585,421 |
Multi-family | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,335,356 | 2,547,835 |
Multi-family | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 2,932 |
Multi-family | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 47,760 | 34,654 |
Multi-family | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 4,934,057 | 4,688,880 |
Commercial real estate, Non-owner occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 4,826,910 | 4,611,029 |
Commercial real estate, Non-owner occupied | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 6,744 | 16,516 |
Commercial real estate, Non-owner occupied | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 100,403 | 61,335 |
Commercial real estate, Non-owner occupied | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Construction and land | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 236,894 | 226,840 |
Construction and land | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 227,476 | 216,917 |
Construction and land | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Construction and land | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 9,418 | 9,923 |
Construction and land | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,077,817 | 2,119,880 |
Commercial real estate, Owner occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,026,416 | 2,077,611 |
Commercial real estate, Owner occupied | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 20,212 | 13,368 |
Commercial real estate, Owner occupied | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 31,189 | 28,901 |
Commercial real estate, Owner occupied | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Commercial and Industrial Sector [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 5,152,643 | 4,790,200 |
Commercial and Industrial Sector [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 5,063,682 | 4,706,666 |
Commercial and Industrial Sector [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 24,014 | 38,097 |
Commercial and Industrial Sector [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 61,264 | 43,691 |
Commercial and Industrial Sector [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 3,683 | 1,746 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,269,469 | 1,462,655 |
Pinnacle Public Finance [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,269,469 | 1,462,655 |
Pinnacle Public Finance [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Pinnacle Public Finance [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Pinnacle Public Finance [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 0 | 0 |
Bridge Funding Group [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,270,065 | 1,154,143 |
Bridge Funding Group [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,207,657 | 1,105,821 |
Bridge Funding Group [Member] | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 8,817 | 10,157 |
Bridge Funding Group [Member] | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 50,726 | 31,522 |
Bridge Funding Group [Member] | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,865 | 6,643 |
Commercial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 17,324,061 | 17,028,019 |
Commercial | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 16,956,966 | 16,728,534 |
Commercial | Special mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 59,787 | 81,070 |
Commercial | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 300,760 | 210,026 |
Commercial | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | $ 6,548 | $ 8,389 |
Loans and Allowance for Loan_13
Loans and Allowance for Loan and Lease Losses (Schedule of Financing Receivables Past Due) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | $ 0 | $ 700 |
Loans, Current | 22,137,186 | 21,676,200 |
Covered loans net of premiums, discounts and deferred fees and costs | 201,376 | |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 22,591,849 | 21,977,008 |
Residential Portfolio Segment [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 5,267,788 | 4,948,989 |
1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 4,835,228 | 4,640,771 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 4,897,552 | 4,664,920 |
Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,393 | 1,393 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,445 | 1,393 |
Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 12,400 | 15,947 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 13,072 | 15,947 |
Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 2,364,546 | 2,585,421 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,383,116 | 2,585,421 |
Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 4,927,847 | 4,682,443 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 4,934,057 | 4,688,880 |
Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 236,012 | 224,828 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 236,894 | 226,840 |
Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 2,064,064 | 2,106,104 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 2,077,817 | 2,119,880 |
Commercial and Industrial Sector [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 5,136,585 | 4,772,978 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 5,152,643 | 4,790,200 |
Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,269,469 | 1,462,655 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,269,469 | 1,462,655 |
Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 1,252,556 | 1,152,312 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 1,270,065 | 1,154,143 |
30 - 59 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 107,682 | 38,110 |
30 - 59 Days Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 49,673 | 15,070 |
30 - 59 Days Past Due | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 22 | 0 |
30 - 59 Days Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 672 | 0 |
30 - 59 Days Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 18,570 | 0 |
30 - 59 Days Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 714 | 3,621 |
30 - 59 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 916 |
30 - 59 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 2,124 | 2,826 |
30 - 59 Days Past Due | Commercial and Industrial Sector [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 5,498 | 6,732 |
30 - 59 Days Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
30 - 59 Days Past Due | Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 13,879 | 603 |
60 - 89 Days Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 18,326 | 14,384 |
60 - 89 Days Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 2,522 | 2,126 |
60 - 89 Days Past Due | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
60 - 89 Days Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
60 - 89 Days Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
60 - 89 Days Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 559 | 1,374 |
60 - 89 Days Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
60 - 89 Days Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 1,087 |
60 - 89 Days Past Due | Commercial and Industrial Sector [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 367 | 926 |
60 - 89 Days Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
60 - 89 Days Past Due | Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
90 Days or More Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 328,655 | 248,314 |
90 Days or More Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 10,129 | 6,953 |
90 Days or More Past Due | Home equity loans and lines of credit | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 30 | 0 |
90 Days or More Past Due | Other Consumer Loans | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
90 Days or More Past Due | Multi-family | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
90 Days or More Past Due | Commercial real estate, Non-owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 4,937 | 1,442 |
90 Days or More Past Due | Construction and land | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 882 | 1,096 |
90 Days or More Past Due | Commercial real estate, Owner occupied | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 11,629 | 9,863 |
90 Days or More Past Due | Commercial and Industrial Sector [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 10,193 | 9,564 |
90 Days or More Past Due | Pinnacle Public Finance [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
90 Days or More Past Due | Bridge Funding Group [Member] | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 3,630 | 1,228 |
US Government Insured Loan Program [Member] | 90 Days or More Past Due | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 18,400 | 8,800 |
US Government Agency Insured Loans [Member] | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Loans, Current | 37,086 | 31,348 |
Loans and lease receivable, net of premiums, discounts and deferred fees and costs | 355,719 | 266,729 |
US Government Agency Insured Loans [Member] | 30 - 59 Days Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 16,530 | 8,342 |
US Government Agency Insured Loans [Member] | 60 - 89 Days Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | 14,878 | 8,871 |
US Government Agency Insured Loans [Member] | 90 Days or More Past Due | 1-4 single family residential | ||
Financing Receivable Investment Past Due [Line Items] | ||
Financing Receivable, Past Due | $ 287,225 | $ 218,168 |
Loans and Allowance for Loan_14
Loans and Allowance for Loan and Lease Losses Loans and Allowance for Loan and Lease Losses (Schedule of Troubled Debt Restructurings) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 40 | 12 | 60 | 25 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 26,676 | $ 2,521 | $ 42,358 | $ 7,062 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 36 | 5 | 37 | 8 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 10,238 | $ 944 | $ 10,400 | $ 1,879 |
1-4 single family residential | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 34 | 9 | 48 | 17 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 5,164 | $ 2,106 | $ 7,345 | $ 5,545 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 31 | 3 | 32 | 3 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 4,355 | $ 507 | $ 4,517 | $ 507 |
Commercial real estate, Non-owner occupied | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 1 | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 12,085 | $ 0 | $ 12,085 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | 0 | 1 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 2,772 | $ 0 | $ 2,772 | $ 0 |
Commercial real estate, Owner occupied | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 1 | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 0 | $ 849 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 3 | 0 | 3 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 1,878 | $ 0 | $ 1,878 | $ 0 |
Other Commercial and industrial [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 4 | 3 | 6 | 8 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 7,354 | $ 415 | $ 17,994 | $ 1,517 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | 2 | 1 | 5 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 1,233 | $ 437 | $ 1,233 | $ 1,372 |
Commercial Lending Subsidiaries | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 4 | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 2,073 | $ 0 | $ 4,085 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 | $ 0 | $ 0 |
US Government Agency Insured Loans [Member] | 1-4 single family residential | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 5,000 | $ 1,000 | $ 7,000 | $ 1,000 |
Leases Schedule of ROU Assets a
Leases Schedule of ROU Assets and Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Schedule of ROU Assets and Lease Liabilities [Abstract] | ||
Operating Lease, Right-of-Use Asset | $ 87,596 | $ 95,000 |
Finance Lease, Right-of-Use Asset | 6,627 | |
Total Right of Use Asset | 94,223 | |
Operating Lease, Liability | 96,908 | |
Finance Lease, Liability | 8,926 | |
Total Lease Liabilities | $ 105,834 |
Leases Schedule of Operating an
Leases Schedule of Operating and Finance Lease Information (Details) | Jun. 30, 2019 |
Operating and Finance Lease Information [Abstract] | |
Operating Lease, Weighted Average Remaining Lease Term | 7 years 10 months 20 days |
Finance Lease, Weighted Average Remaining Lease Term | 6 years 3 months 18 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.40% |
Finance Lease, Weighted Average Discount Rate, Percent | 11.70% |
Leases Schedule of Lease Costs
Leases Schedule of Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Schedule of Lease Costs [Abstract] | ||
Operating Lease, Cost | $ 5,046 | $ 10,080 |
Finance Lease, Right-of-Use Asset, Amortization | 359 | 709 |
Finance Lease, Interest Expense | 250 | 505 |
Total finance lease cost | $ 609 | $ 1,214 |
Leases Schedule of Future Minim
Leases Schedule of Future Minimum Lease Payments for Operating and Finance Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Future Minimum Lease Payments for Operating and Finance Leases [Abstract] | ||
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 10,379 | $ 21,207 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 17,499 | 17,629 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 15,762 | 15,858 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 12,524 | 12,114 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 10,764 | 10,311 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 43,873 | 42,984 |
Lessee, Operating Lease, Liability, Payments, Due | 110,801 | $ 120,103 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 13,893 | |
Operating Lease, Liability | 96,908 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 939 | |
Finance Lease, Liability, Payments, Due Year Two | 2,456 | |
Finance Lease, Liability, Payments, Due Year Three | 2,514 | |
Finance Lease, Liability, Payments, Due Year Four | 2,053 | |
Finance Lease, Liability, Payments, Due Year Five | 2,124 | |
Finance Lease, Liability, Payments, Due after Year Five | 2,825 | |
Finance Lease, Liability, Payment, Due | 12,911 | |
Finance Lease, Liability, Undiscounted Excess Amount | 3,985 | |
Finance Lease, Liability | 8,926 | |
Total Lease Liability, Payments, Remainder of Fiscal Year | 11,318 | |
Total Lease Liability, Payments, Due Year Two | 19,955 | |
Total Lease Liability, Payments, Due Year Three | 18,276 | |
Total Lease Liability, Payments, Due Year Four | 14,577 | |
Total Lease Liability, Payments, Due Year Five | 12,888 | |
Total Lease Liability, Payments, Due After Year Five | 46,698 | |
Total Lease Liability, Payments Due | 123,712 | |
Total Lease Liability, Undiscounted Excess Amount | 17,878 | |
Total Lease Liabilities | $ 105,834 |
Leases Schedule of Direct or Sa
Leases Schedule of Direct or Sales Type Finance Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Direct or Sales Type Finance Leases [Abstract] | ||
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | $ 844,442 | $ 808,921 |
Direct Financing Lease, Unguaranteed Residual Asset | 8,369 | 7,355 |
Sales-type or direct financing lease, gross investment | 852,811 | 816,276 |
Direct Financing Lease, Deferred Selling Profit | 83,943 | 81,864 |
Capital Leases, Net Investment in Direct Financing Leases, Initial Direct Costs | 4,728 | 4,833 |
Sales-type and Direct Financing Leases, Lease Receivable | $ 773,596 | $ 739,245 |
Leases Schedule of future min_2
Leases Schedule of future minimum lease payments under direct or sales type financing leases (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of future minimum lease payments under direct or sales type financing leases [Abstract] | ||
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Remainder of Fiscal Year | $ 122,931 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Two Years | 192,841 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Three Years | 132,419 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Four Years | 88,202 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Five Years | 68,031 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Thereafter | 240,018 | |
Sales-type and Direct Financing Leases, Lease Receivable | $ 844,442 | $ 808,921 |
Leases Schedule of Future Min_3
Leases Schedule of Future Minimum Rental Payment on Operating Leases (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Schedule of Future Minimum Rental Payment on Operating Leases [Abstract] | |
Operating Leases, Future Minimum Payments Receivable, Remainder of Fiscal Year | $ 34,159 |
Operating Leases, Future Minimum Payments Receivable, in Two Years | 62,299 |
Operating Leases, Future Minimum Payments Receivable, in Three Years | 52,949 |
Operating Leases, Future Minimum Payments Receivable, in Four Years | 46,162 |
Operating Leases, Future Minimum Payments Receivable, in Five Years | 37,951 |
Operating Leases, Future Minimum Payments Receivable, Thereafter | 109,933 |
Operating Leases, Future Minimum Payments Receivable | $ 343,453 |
Leases Schedule of Leases - Cas
Leases Schedule of Leases - Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Finance Lease, Interest Payment on Liability | $ 250 | $ 505 |
Operating Lease, Payments | 5,216 | 10,359 |
Finance Lease, Principal Payments | 726 | 1,461 |
Total cash paid for amounts included in the measurement of lease liabilities | 6,192 | 12,325 |
Operating lease liabilities recognized from obtaining ROU assets | 1,597 | 1,597 |
Finance lease liabilities recognized from obtaining ROU assets | 0 | 1,521 |
Total lease liabilities recognized from obtaining ROU assets | 1,597 | 107,182 |
Accounting Standards Update 2016-02 [Member] | ||
Operating lease liabilities recognized from obtaining ROU assets | $ 0 | $ 104,064 |
Leases Operating and Direct Fin
Leases Operating and Direct Finance Lease Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Operating and Direct Finance Lease Income [Abstract] | ||
Operating Lease, Lease Income | $ 17,005 | $ 34,191 |
Direct Financing Lease, Lease Income | 5,489 | 10,798 |
Lease Income | $ 22,494 | $ 44,989 |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Effective Income Tax Rate Reconciliation, Percent | 25.20% | 23.20% | 25.90% | 23.10% |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities (Narrative) (Details) | Jun. 30, 2019USD ($) |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial collateral pledged for interest rate swaps | $ 17,300,000 |
Fair value of Interest rate derivative contracts cleared through the CME | 0 |
Amount expected to be reclassified from AOCI into income | $ 11,500,000 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities (Interest Rate Contract Derivative Financial Instruments and Related Hedged Items) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Derivatives Fair Value [Line Items] | |||
Notional amount of interest rate derivatives | $ 5,552,930 | $ 5,139,206 | |
Interest rate derivative assets, fair value | 41,405 | 29,615 | |
Interest rate derivative liabilities, fair value | $ (19,251) | $ (23,874) | |
Derivatives designated as cash flow hedges | Pay-fixed interest rate swaps | |||
Derivatives Fair Value [Line Items] | |||
Weighted average fixed rate of interest rate derivatives (in Percent) | 2.37% | 2.38% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 3 years 8 months 12 days | 4 years | |
Notional amount of interest rate derivatives | $ 3,131,000 | $ 2,846,000 | |
Derivatives designated as cash flow hedges | Pay-fixed interest rate swaps | Other Liabilities | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative liabilities, fair value | (1,485) | 0 | |
Derivatives designated as cash flow hedges | Pay-fixed interest rate swaps | Other Assets | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative assets, fair value | $ 0 | $ 3,405 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | |||
Derivatives Fair Value [Line Items] | |||
Weighted average fixed rate of interest rate derivatives (in Percent) | 4.09% | 4.10% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 6 years | 6 years | |
Notional amount of interest rate derivatives | $ 1,130,652 | $ 1,048,196 | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Liabilities | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative liabilities, fair value | (16,236) | (6,991) | |
Derivatives not designated as hedges | Pay-fixed interest rate swaps | Other Assets | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative assets, fair value | $ 1,616 | $ 14,883 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | |||
Derivatives Fair Value [Line Items] | |||
Weighted average fixed rate of interest rate derivatives (in Percent) | 4.09% | 4.10% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 6 years | 6 years | |
Notional amount of interest rate derivatives | $ 1,130,652 | $ 1,048,196 | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Liabilities | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative liabilities, fair value | (1,530) | (16,874) | |
Derivatives not designated as hedges | Pay-variable interest rate swaps | Other Assets | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative assets, fair value | $ 39,789 | $ 11,318 | |
Derivatives not designated as hedges | Interest rate caps purchased, indexed to 1-month Libor [Domain] | |||
Derivatives Fair Value [Line Items] | |||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.62% | 3.43% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 10 months 24 days | 1 year 2 months 12 days | |
Notional amount of interest rate derivatives | $ 80,313 | $ 98,407 | |
Derivatives not designated as hedges | Interest rate caps purchased, indexed to 1-month Libor [Domain] | Other Assets | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative assets, fair value | $ 0 | $ 9 | |
Derivatives not designated as hedges | Interest rate caps sold, indexed to 1-month Libor [Domain] [Domain] | |||
Derivatives Fair Value [Line Items] | |||
Weighted average fixed rate of interest rate derivatives (in Percent) | 3.62% | 3.43% | |
Weighted average remaining maturity of interest rate derivatives (in Duration) | 10 months 24 days | 1 year 2 months 12 days | |
Notional amount of interest rate derivatives | $ 80,313 | $ 98,407 | |
Derivatives not designated as hedges | Interest rate caps sold, indexed to 1-month Libor [Domain] [Domain] | Other Liabilities | |||
Derivatives Fair Value [Line Items] | |||
Interest rate derivative liabilities, fair value | $ 0 | $ (9) |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities (Interest Rate Swaps Subject to Master Netting Agreements) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Gross Amounts Recognized, Derivative assets | $ 1,616 | $ 18,297 |
Gross Amounts Recognized, Derivative liabilities | (17,721) | (6,991) |
Gross Amounts Recognized, Derivative assets and liabilities | (16,105) | 11,306 |
Gross Amounts Offset in Balance Sheet, Derivative assets | 0 | 0 |
Gross Amounts Offset in Balance Sheet, Derivative liabilities | 0 | 0 |
Gross Amounts Offset in Balance Sheet, Derivative assets and liabilities | 0 | 0 |
Net Amounts Presented in Balance Sheet, Derivative assets | 1,616 | 18,297 |
Net Amounts Presented in Balance Sheet, Derivative liabilities | (17,721) | (6,991) |
Net Amounts Presented in Balance Sheet, Derivative assets and liabilities | (16,105) | 11,306 |
Gross Amounts Not Offset in Balance Sheet | ||
Derivative Instruments, Derivative assets | (1,616) | (5,264) |
Derivative Instruments, Derivative liabilities | 1,616 | 5,264 |
Derivative Instruments, Derivative assets and liabilities | 0 | 0 |
Collateral Pledged, Derivative assets | 0 | (13,129) |
Collateral Pledged, Derivative liabilities | (16,105) | (436) |
Collateral Pledged, Derivative assets and liabilities | 16,105 | (12,693) |
Net Amount, Derivative assets | 0 | (96) |
Net Amount, Derivative liabilities | 0 | (1,291) |
Net Amount, Derivative assets and liabilities | $ 0 | $ (1,387) |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities Derivative and Hedging Activities - Amount of loss reclassified from AOCI into Income (Details) - Borrowings [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | $ 1,688 | $ 4,411 | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion | $ 728 | $ 211 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) $ in Thousands | Jan. 23, 2019USD ($) |
Stock Repurchase Program, Authorized Amount | $ 150,000 |
Stockholders' Equity (Changes i
Stockholders' Equity (Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2019 | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,902 | |||
Unrealized gains on investment securities available for sale: | ||||
Net unrealized holding gain (loss) arising during the period, Before Tax | $ 31,737 | $ (17,831) | $ 61,147 | (55,007) |
Amounts reclassified to gain on investment securities available for sale, net, Before Tax | (3,914) | (2,551) | (8,231) | (3,527) |
Net change in unrealized gains on securities available for sale, Before Tax | 27,823 | (20,382) | 52,916 | (58,534) |
Net unrealized holding gain (loss) arising during the period, Tax Effect | (8,410) | 4,725 | (16,204) | 14,577 |
Amounts reclassified to gain on investment securities available for sale, net, Tax Effect | 1,037 | 676 | 2,181 | 935 |
Net change in unrealized gains on securities available for sale, Tax Effect | (7,373) | 5,401 | (14,023) | 15,512 |
Net unrealized holding gain (loss) arising during the period, Net of Tax | 23,326 | (13,106) | 44,943 | (40,430) |
Amounts reclassified to gain on investment securities available for sale, net, Net of Tax | (2,877) | (1,875) | (6,050) | (2,592) |
Net change in unrealized gain on securities available for sale | 20,449 | (14,981) | 38,893 | (43,022) |
Unrealized losses on derivative instruments: | ||||
Net unrealized holding gain (loss) arising during the period, Before Tax | (50,637) | 13,396 | (78,766) | 40,325 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | (1,688) | (728) | (4,411) | 211 |
Net change in unrealized losses on derivative instruments, Before Tax | (52,325) | 12,668 | (83,177) | 40,536 |
Net unrealized holding gain (loss) arising during the period, Tax Effect | 13,419 | (3,550) | 20,873 | (10,686) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 447 | 193 | 1,169 | (56) |
Net change in unrealized losses on derivative instruments, Tax Effect | 13,866 | (3,357) | 22,042 | (10,742) |
Net unrealized holding gain (loss) arising during the period, Net of Tax | (37,218) | 9,846 | (57,893) | 29,639 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (1,241) | (535) | (3,242) | 155 |
Net change in unrealized loss on derivative instruments | (38,459) | 9,311 | (61,135) | 29,794 |
Other comprehensive income (loss), Before Tax | (24,502) | (7,714) | (30,261) | (17,998) |
Other comprehensive income (loss), Tax Effect | 6,493 | 2,044 | 8,019 | 4,770 |
Other comprehensive income (loss) | $ (18,010) | $ (5,670) | $ (22,242) | $ (13,228) |
Stockholders' Equity (Categorie
Stockholders' Equity (Categories of Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | $ 4,873 | $ 54,986 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | 8,902 | |||
Other comprehensive loss | $ (18,010) | $ (5,670) | (22,242) | (13,228) |
Other comprehensive income, Ending Balance | (17,369) | 50,660 | (17,369) | 50,660 |
Unrealized Gains on Investment Securities Available for Sale | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | 4,194 | 56,534 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | 9,187 | |||
Other comprehensive loss | 38,893 | (43,022) | ||
Other comprehensive income, Ending Balance | 43,087 | 22,699 | 43,087 | 22,699 |
Unrealized Losses on Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Other comprehensive income, Beginning Balance | 679 | (1,548) | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | (285) | |||
Other comprehensive loss | (61,135) | 29,794 | ||
Other comprehensive income, Ending Balance | $ (60,456) | $ 27,961 | $ (60,456) | 27,961 |
Accumulated Other Comprehensive Income (Loss) | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,902 |
Equity Based Compensation (Narr
Equity Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.1 | $ 4.6 |
Unvested and restricted share awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 32.3 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 5 months 1 day | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 582,353 | 640,828 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 36.57 | $ 40.34 |
Liability based awards settled in shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 60,290 | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 73,062 | 52,026 |
RSU and PSU Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 7.2 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 3 months 10 days | |
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 4 | |
Incentive Compensation Arrangements [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 3.6 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 4 years 6 months 3 days | |
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 0.4 |
Equity Based Compensation (Sche
Equity Based Compensation (Schedule of Compensation Costs Related to Equity Based Awards) (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Range of the closing price on date of grant, maximum (in Dollars per Share) | $ 36.65 | $ 40.28 |
Aggregate grant date fair value of shares vesting | $ 20,083 | $ 17,825 |
Equity Based Compensation (Sc_2
Equity Based Compensation (Schedule of Nonvested Share Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 100 | $ 4,600 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Range of the closing price on date of grant, minimum (in Dollars per Share) | $ 34.23 | $ 40.28 | ||
Range of the closing price on date of grant, maximum (in Dollars per Share) | $ 36.65 | $ 40.28 | ||
Aggregate grant date fair value of shares vesting | $ 20,083 | $ 17,825 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 958,970 | 978,999 | 964,840 | 1,270,688 |
Unvested and restricted share awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 32,300 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 5 months 1 day | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,119,641 | 1,186,450 | 1,186,238 | 1,108,477 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 38.21 | $ 38.88 | $ 38.86 | $ 36.06 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 582,353 | 640,828 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 36.57 | $ 40.34 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (533,125) | (513,948) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 37.67 | $ 34.68 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | (115,825) | (48,907) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 39.11 | $ 38.21 |
Equity Based Compensation Sched
Equity Based Compensation Schedule of Other Share-Based Compensation, Activity (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unvested and restricted share awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 32.3 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 582,353 | 640,828 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (533,125) | (513,948) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,119,641 | 1,186,450 | 1,186,238 | 1,108,477 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 38.21 | $ 38.88 | $ 38.86 | $ 36.06 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 36.57 | 40.34 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 37.67 | $ 34.68 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | (115,825) | (48,907) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 39.11 | $ 38.21 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 5 months 1 day | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 73,062 | 52,026 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 163,674 | 143,197 | 90,612 | 91,171 |
Performance share units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 73,062 | 52,026 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 172,936 | 157,747 | 99,874 | 105,721 |
RSU and PSU Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 7.2 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 3 months 10 days |
Equity Based Compensation (Sc_3
Equity Based Compensation (Schedule of Stock Options Activity) (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Number of Option Awards | ||||
Exercised (in Shares) | (3,910) | (291,689) | ||
Weighted Average Exercise Price | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 11.14 | $ 26.94 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | (1,960) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ 63.74 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.1 | $ 4.6 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 958,970 | 978,999 | 964,840 | 1,270,688 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 26.52 | $ 27.07 | $ 26.53 | $ 26.93 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 8,179,548 | $ 8,196,018 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (19,251) | (23,874) |
Derivative Financial Instruments, Liabilities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (19,251) | (23,874) |
US Treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 50,213 | 39,873 |
U.S. Government agency and sponsored enterprise residential MBS | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,227,795 | 1,897,474 |
U.S. Government agency and sponsored enterprise commercial MBS | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 381,104 | 374,787 |
Private label residential mortgage-backed securities and CMOs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,395,182 | 1,534,198 |
Private label commercial mortgage-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,557,953 | 1,485,716 |
Single family rental real estate-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 392,306 | 402,458 |
Collateralized loan obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,198,282 | 1,235,198 |
Non-mortgage asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 157,817 | 204,067 |
State and municipal obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 279,327 | 398,429 |
SBA securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 421,773 | 519,313 |
Other debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 4,781 | 4,846 |
Equity Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 62,175 | 60,519 |
Servicing Rights [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 9,435 | 9,525 |
Derivative Financial Instruments, Assets [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 41,405 | 29,615 |
Fair Value, Inputs, Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 112,388 | 100,392 |
Fair Value, Inputs, Level 1 | US Treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 50,213 | 39,873 |
Fair Value, Inputs, Level 1 | Equity Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 62,175 | 60,519 |
Fair Value, Inputs, Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 8,027,418 | 8,046,571 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (19,251) | (23,874) |
Fair Value, Inputs, Level 2 | Derivative Financial Instruments, Liabilities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (19,251) | (23,874) |
Fair Value, Inputs, Level 2 | U.S. Government agency and sponsored enterprise residential MBS | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,227,795 | 1,897,474 |
Fair Value, Inputs, Level 2 | U.S. Government agency and sponsored enterprise commercial MBS | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 381,104 | 374,787 |
Fair Value, Inputs, Level 2 | Private label residential mortgage-backed securities and CMOs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,369,656 | 1,499,514 |
Fair Value, Inputs, Level 2 | Private label commercial mortgage-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,557,953 | 1,485,716 |
Fair Value, Inputs, Level 2 | Single family rental real estate-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 392,306 | 402,458 |
Fair Value, Inputs, Level 2 | Collateralized loan obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,198,282 | 1,235,198 |
Fair Value, Inputs, Level 2 | Non-mortgage asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 157,817 | 204,067 |
Fair Value, Inputs, Level 2 | State and municipal obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 279,327 | 398,429 |
Fair Value, Inputs, Level 2 | SBA securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 421,773 | 519,313 |
Fair Value, Inputs, Level 2 | Other debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 | Equity Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 | Servicing Rights [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 | Derivative Financial Instruments, Assets [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 41,405 | 29,615 |
Fair Value, Inputs, Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 39,742 | 49,055 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 | Derivative Financial Instruments, Liabilities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMOs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 25,526 | 34,684 |
Fair Value, Inputs, Level 3 | SBA securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 | Other debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 4,781 | 4,846 |
Fair Value, Inputs, Level 3 | Servicing Rights [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 9,435 | 9,525 |
Fair Value, Inputs, Level 3 | Derivative Financial Instruments, Assets [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | $ 8,179,548 | $ 8,196,018 | |
Servicing Rights [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | $ 1,100 | ||
Assets, Fair Value Disclosure | 9,435 | 9,525 | |
Other debt securities | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 4,781 | 4,846 | |
Private label residential mortgage-backed securities and CMOs | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 1,395,182 | 1,534,198 | |
Impaired Loans [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 15,385 | 80,693 | |
OREO and Repossessed Assets [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 1,557 | 1,962 | |
Fair Value, Inputs, Level 3 | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 39,742 | 49,055 | |
Fair Value, Inputs, Level 3 | Servicing Rights [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 9,435 | 9,525 | |
Fair Value, Inputs, Level 3 | Other debt securities | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 4,781 | 4,846 | |
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMOs | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | 25,526 | $ 34,684 | |
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Investment grade | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | $ 13,199 | ||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Investment grade | Weighted Average | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Current subordination level (in Percent) | 19.40% | ||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Non-investment grade | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | $ 12,327 | ||
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Weighted Average | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Current subordination level (in Percent) | 14.40% | ||
Fair Value, Inputs, Level 3 | Impaired Loans [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | $ 15,385 | 54,089 | |
Fair Value, Inputs, Level 3 | OREO and Repossessed Assets [Member] | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Assets, Fair Value Disclosure | $ 1,557 | $ 432 |
Fair Value Measurements (Change
Fair Value Measurements (Changes in the Fair Value of Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Private label residential mortgage-backed securities and CMOs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period, fair value of assets | $ 27,904 | $ 44,120 | $ 34,684 | $ 52,214 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 196 | 0 | 1,630 | 1,319 |
Gains (losses) for the period included in Other comprehensive income (loss) | (800) | (963) | (4,064) | (3,461) |
Amortization | 941 | 714 | 3,044 | 1,585 |
Sales | 561 | 0 | (5,531) | (5,120) |
Settlements | 2,154 | (3,307) | (4,237) | (5,973) |
Balance at end of period, fair value of assets | 25,526 | 40,564 | 25,526 | 40,564 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) for assets held at end period | (320) | (933) | (731) | (1,992) |
Other debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period, fair value of assets | 4,818 | 5,714 | 4,846 | 5,329 |
Gains (losses) for the period included in Other comprehensive income (loss) | (32) | (91) | (67) | 287 |
Amortization | 55 | 182 | 70 | 213 |
Settlements | 60 | (224) | (68) | (248) |
Balance at end of period, fair value of assets | 4,781 | 5,581 | 4,781 | 5,581 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) for assets held at end period | (32) | (91) | (67) | 287 |
Servicing Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period, fair value of assets | 9,585 | 33,432 | 9,525 | 30,737 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (486) | (1,868) | (1,148) | (1,621) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 336 | 4,351 | 1,058 | 6,799 |
Sales | 0 | 0 | 0 | 0 |
Balance at end of period, fair value of assets | $ 9,435 | $ 35,915 | $ 9,435 | $ 35,915 |
Fair Value Measurements (Valuat
Fair Value Measurements (Valuation Techniques and Unobservable Inputs Used in the Valuation of Financial Instruments Falling within Level 3 of the Fair Value Hierarchy) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure | $ 8,179,548 | $ 8,196,018 |
Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.071 | |
Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.3 | |
Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.154790957387285 | |
Fair Value, Inputs, Level 3 | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure | $ 39,742 | $ 49,055 |
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Investment grade | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure | 13,199 | |
Fair Value, Inputs, Level 3 | Private label residential mortgage-backed securities and CMO's - Non-investment grade | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure | 12,327 | |
Fair Value, Inputs, Level 3 | Commercial Servicing Rights [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure | $ 9,435 | |
Measurement Input, Prepayment Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.05 | |
Measurement Input, Prepayment Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.272 | |
Measurement Input, Prepayment Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.157012660559557 | |
Measurement Input, Prepayment Rate [Member] | Commercial Servicing Rights [Member] | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.00596495810896158 | |
Measurement Input, Prepayment Rate [Member] | Commercial Servicing Rights [Member] | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.199089556932449 | |
Measurement Input, Prepayment Rate [Member] | Commercial Servicing Rights [Member] | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.141110756821869 | |
Measurement Input, Default Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.001 | |
Measurement Input, Default Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.1 | |
Measurement Input, Default Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.020871785622498 | |
Measurement Input, Default Rate [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0 | |
Measurement Input, Default Rate [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.0556367195936947 | |
Measurement Input, Default Rate [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.0226271861146512 | |
Measurement Input, Loss Severity [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.15 | |
Measurement Input, Loss Severity [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 1 | |
Measurement Input, Loss Severity [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.41054265922398 | |
Measurement Input, Loss Severity [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.15 | |
Measurement Input, Loss Severity [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 1 | |
Measurement Input, Loss Severity [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.298663469878368 | |
Measurement Input, Discount Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.023995 | |
Measurement Input, Discount Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.061471 | |
Measurement Input, Discount Rate [Member] | Private label residential mortgage-backed securities and CMO's - Investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.0341912107724953 | |
Measurement Input, Discount Rate [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.015887 | |
Measurement Input, Discount Rate [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.121513 | |
Measurement Input, Discount Rate [Member] | Private label residential mortgage-backed securities and CMO's - Non-investment grade | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.0460530819380914 | |
Measurement Input, Discount Rate [Member] | Commercial Servicing Rights [Member] | Discounted cash flow | Minimum | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.0361468158662319 | |
Measurement Input, Discount Rate [Member] | Commercial Servicing Rights [Member] | Discounted cash flow | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.168057307600975 | |
Measurement Input, Discount Rate [Member] | Commercial Servicing Rights [Member] | Discounted cash flow | Weighted Average | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value, Option, Relation to Measurement Inputs | 0.112839287595183 |
Fair Value Measurements (Asse_2
Fair Value Measurements (Assets for which Nonrecurring Changes in Fair Value have been Recorded) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | $ 8,179,548 | $ 8,179,548 | $ 8,196,018 | ||
Fair Value, Inputs, Level 3 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 39,742 | 39,742 | 49,055 | ||
Fair Value, Inputs, Level 2 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 8,027,418 | 8,027,418 | $ 8,046,571 | ||
Commercial Servicing Rights [Member] | Fair Value, Inputs, Level 3 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 9,435 | 9,435 | |||
OREO and Repossessed Assets [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 1,557 | $ 1,962 | 1,557 | $ 1,962 | |
Losses from Nonrecurring Fair Value Changes | (203) | (396) | (221) | (1,801) | |
OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 3 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 1,557 | 432 | 1,557 | 432 | |
OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 2 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 0 | 1,530 | 0 | 1,530 | |
Impaired Loans [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 15,385 | 80,693 | 15,385 | 80,693 | |
Losses from Nonrecurring Fair Value Changes | (529) | (10,966) | (279) | (14,157) | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 15,385 | 54,089 | 15,385 | 54,089 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | $ 0 | 26,604 | $ 0 | 26,604 | |
Taxi medallion [Member] | OREO and Repossessed Assets [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Losses from Nonrecurring Fair Value Changes | (100) | (600) | |||
Taxi medallion [Member] | OREO and Repossessed Assets [Member] | Fair Value, Inputs, Level 3 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 1,500 | 1,500 | |||
Taxi medallion [Member] | Impaired Loans [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Losses from Nonrecurring Fair Value Changes | (12,700) | ||||
Taxi medallion [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | $ 66,100 | $ 66,100 |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Value and Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring (Deprecated 2018-01-31) | $ 8,179,548 | $ 8,196,018 |
Assets: | ||
Investments, Fair Value Disclosure | 8,139,257 | 8,167,127 |
Non-marketable equity securities | 289,789 | 267,052 |
Loans and lease receivable, net | 22,479,708 | 21,867,077 |
Liabilities: | ||
Time Deposits | 7,080,716 | 6,819,758 |
Federal funds purchased | 99,000 | 175,000 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring (Deprecated 2018-01-31) | 112,388 | 100,392 |
Assets: | ||
Cash and cash equivalents | 442,833 | 382,073 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring (Deprecated 2018-01-31) | 8,027,418 | 8,046,571 |
Assets: | ||
Non-marketable equity securities | 289,789 | 267,052 |
Loans held for sale | 232,000 | 39,931 |
Derivative assets | 41,405 | 29,615 |
Liabilities: | ||
Demand, savings and money market deposits | 16,841,684 | 16,654,465 |
Time Deposits | 7,093,055 | 6,820,355 |
Federal funds purchased | 99,000 | 175,000 |
FHLB advances | 5,353,836 | 4,810,446 |
Notes Payable, Fair Value Disclosure | 442,782 | 416,142 |
Derivative liabilities | 19,251 | 23,874 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring (Deprecated 2018-01-31) | 39,742 | 49,055 |
Assets: | ||
Loans Receivable, Fair Value Disclosure | 22,815,851 | 21,868,258 |
Carrying Value | ||
Assets: | ||
Cash and cash equivalents | 442,833 | 382,073 |
Investments, Fair Value Disclosure | 8,138,708 | 8,166,878 |
Non-marketable equity securities | 289,789 | 267,052 |
Loans held for sale | 224,759 | 36,992 |
Loans Receivable, Fair Value Disclosure | 22,479,708 | 21,867,077 |
Derivative assets | 41,405 | 29,615 |
Liabilities: | ||
Demand, savings and money market deposits | 16,841,684 | 16,654,465 |
Time Deposits | 7,080,716 | 6,819,758 |
Federal funds purchased | 99,000 | 175,000 |
FHLB advances | 5,331,000 | 4,796,000 |
Notes Payable, Fair Value Disclosure | 403,661 | 402,749 |
Derivative liabilities | $ 19,251 | $ 23,874 |
Commitments and Contingencies C
Commitments and Contingencies Commitments (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | $ 4,147,149 |
Standby Letters of Credit [Member] | |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | 84,731 |
Unused lines of Credit [Member] | |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | 2,950,555 |
Loan Purchase Commitments [Member] | |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | 660,965 |
Loan Origination Commitments [Member] | |
Lending related commitments [Line Items] | |
Unused Commitments to Extend Credit | $ 450,898 |