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Borrowings (Tables)
 9 Months Ended
Sep. 30, 2014
Borrowings Subordinated Debentures And Brokered Deposits [Abstract]  
Schedule of Debt
The following table summarizes our borrowings as of the dates indicated:
 
September 30, 2014
 
December 31, 2013
 
Amount
 
Rate
 
Amount
 
Rate
 
(Dollars in thousands)
Non‑recourse debt
$
3,672

 
6.26
%
 
$
7,126

 
6.30
%
FHLB overnight advances
360,000

 
0.07
%
 
106,600

 
0.06
%
Total borrowings
$
363,672

 
 
 
$
113,726

 
 
Borrowings Subordinated Debentures And Brokered Deposits Disclosure
The following table summarizes the terms of each issuance of subordinated debentures outstanding as of the dates indicated:
 
September 30, 2014
 
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Date
 
Maturity
 
Rate Index
Series
Amount
 
Rate (1)
 
Amount
 
Rate (2)
 
Issued
 
Date
 
(Quarterly Reset)
 
(Dollars in thousands)
 
 
 
 
 
 
Trust V
$
10,310

 
3.33
%
 
$
10,310

 
3.34
%
 
8/15/2003
 
9/17/2033
 
3 month LIBOR + 3.10
Trust VI
10,310

 
3.28
%
 
10,310

 
3.29
%
 
9/3/2003
 
9/15/2033
 
3 month LIBOR + 3.05
Trust CII
5,155

 
3.18
%
 
5,155

 
3.19
%
 
9/17/2003
 
9/17/2033
 
3 month LIBOR + 2.95
Trust VII
61,856

 
2.99
%
 
61,856

 
2.99
%
 
2/5/2004
 
4/23/2034
 
3 month LIBOR + 2.75
Trust CIII
20,619

 
1.92
%
 
20,619

 
1.93
%
 
8/15/2005
 
9/15/2035
 
3 month LIBOR + 1.69
Trust FCCI
16,495

 
1.83
%
 
16,495

 
1.84
%
 
1/25/2007
 
3/15/2037
 
3 month LIBOR + 1.60
Trust FCBI
10,310

 
1.78
%
 
10,310

 
1.79
%
 
9/30/2005
 
12/15/2035
 
3 month LIBOR + 1.55
Trust CS 2005-1 (3)
82,475

 
2.18
%
 
—

 
—

 
11/21/2005
 
12/15/2035
 
3 month LIBOR + 1.95
Trust CS 2005-2 (3)
128,866

 
2.19
%
 
—

 
—

 
12/14/2005
 
1/30/2036
 
3 month LIBOR + 1.95
Trust CS 2006-1 (3)
51,545

 
2.19
%
 
—

 
—

 
2/22/2006
 
4/30/2036
 
3 month LIBOR + 1.95
Trust CS 2006-2 (3)
51,550

 
2.19
%
 
—

 
—

 
9/27/2006
 
10/30/2036
 
3 month LIBOR + 1.95
Trust CS 2006-3 (3)
32,551

 
1.29
%
 
—

 
—

 
9/29/2006
 
10/30/2036
 
3 month EURIBOR + 2.05
Trust CS 2006-4 (3)
16,470

 
2.19
%
 
—

 
—

 
12/5/2006
 
1/30/2037
 
3 month LIBOR + 1.95
Trust CS 2006-5 (3)
6,650

 
2.19
%
 
—

 
—

 
12/19/2006
 
1/30/2037
 
3 month LIBOR + 1.95
Trust CS 2007-2 (3)
39,177

 
2.19
%
 
—

 
—

 
6/13/2007
 
7/30/2037
 
3 month LIBOR + 1.95
Gross subordinated debentures
544,339

 
 
 
135,055

 
 
 
 
 
 
 
 
Unamortized discount (4)
(110,794
)
 
 
 
(2,410
)
 
 
 
 
 
 
 
 
Net subordinated debentures
$
433,545

 
 
 
$
132,645

 
 
 
 
 
 
 
 
___________________
(1)
As of September 30, 2014.
(2)
As of January 28, 2014.
(3)
Acquired in the CapitalSource Inc. merger.
(4)
Amount represents the fair value adjustment on trust preferred securities assumed in the CapitalSource Inc. and FCAL acquisitions.