Borrowings and Subordinated Debentures (Tables)

12 Months Ended

Dec. 31, 2014

Borrowings Subordinated Debentures And Brokered Deposits [Abstract]

Schedule of Debt

The following table summarizes our borrowings as of the dates indicated:

	December 31, 2014				December 31, 2013
	Amount		Rate		Amount		Rate
	(Dollars in thousands)
Non‑recourse debt	$	3,402	6.43	%	$	7,126	6.30	%
FHLB overnight advances	380,000		0.27	%	106,600		0.06	%
Total borrowings	$	383,402			$	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:

	December 31, 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			3.29	%	10,310			3.29	%	9/3/2003	9/15/2033	3 month LIBOR + 3.05
Trust CII	5,155			3.19	%	5,155			3.19	%	9/17/2003	9/17/2033	3 month LIBOR + 2.95
Trust VII	61,856			2.98	%	61,856			2.99	%	2/5/2004	4/23/2034	3 month LIBOR + 2.75
Trust CIII	20,619			1.93	%	20,619			1.93	%	8/15/2005	9/15/2035	3 month LIBOR + 1.69
Trust FCCI	16,495			1.84	%	16,495			1.84	%	1/25/2007	3/15/2037	3 month LIBOR + 1.60
Trust FCBI	10,310			1.79	%	10,310			1.79	%	9/30/2005	12/15/2035	3 month LIBOR + 1.55
Trust CS 2005-1 (3)	82,475			2.19	%	—			—		11/21/2005	12/15/2035	3 month LIBOR + 1.95
Trust CS 2005-2 (3)	128,866			2.18	%	—			—		12/14/2005	1/30/2036	3 month LIBOR + 1.95
Trust CS 2006-1 (3)	51,545			2.18	%	—			—		2/22/2006	4/30/2036	3 month LIBOR + 1.95
Trust CS 2006-2 (3)	51,550			2.18	%	—			—		9/27/2006	10/30/2036	3 month LIBOR + 1.95
Trust CS 2006-3 (3)(4)	31,188			2.14	%	—			—		9/29/2006	10/30/2036	3 month EURIBOR + 2.05
Trust CS 2006-4 (3)	16,470			2.18	%	—			—		12/5/2006	1/30/2037	3 month LIBOR + 1.95
Trust CS 2006-5 (3)	6,650			2.18	%	—			—		12/19/2006	1/30/2037	3 month LIBOR + 1.95
Trust CS 2007-2 (3)	39,177			2.18	%	—			—		6/13/2007	7/30/2037	3 month LIBOR + 1.95
Gross subordinated debentures	542,976					135,055
Unamortized discount (5)	(109,393		)			(2,410		)
Net subordinated debentures	$	433,583				$	132,645

___________________

(1) As of December 31, 2014.

(2) As of January 28, 2014.

(3) Acquired in the CapitalSource Inc. merger.

(4) Denomination is in Euros with a value of €25.8 million.

(5) Amount represents the fair value adjustment on trust preferred securities assumed in the CapitalSource Inc. and FCAL acquisitions.