Borrowings and Subordinated Debentures (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Debt

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

	September 30, 2016				December 31, 2015
	Amount		Rate		Amount		Rate
	(Dollars in thousands)
Non‑recourse debt	$	1,011	6.31	%	$	3,914	5.49	%
FHLB secured advances	410,000		0.37	%	618,000		0.27	%
FHLB unsecured overnight advance	90,000		0.35	%	—		—	%
American Financial Exchange overnight borrowing	40,000		0.55	%	—		—	%
Total borrowings	$	541,011			$	621,914

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, 2016					December 31, 2015					Date	Maturity	Rate Index
Series:	Amount			Rate		Amount			Rate		Issued	Date	(Quarterly Reset)
	(Dollars in thousands)
Trust V	$	10,310		3.96	%	$	10,310		3.63	%	8/15/2003	9/17/2033	3 month LIBOR + 3.10
Trust VI	10,310			3.90	%	10,310			3.39	%	9/3/2003	9/15/2033	3 month LIBOR + 3.05
Trust CII	5,155			3.81	%	5,155			3.35	%	9/17/2003	9/17/2033	3 month LIBOR + 2.95
Trust VII	61,856			3.51	%	61,856			3.07	%	2/5/2004	4/23/2034	3 month LIBOR + 2.75
Trust CIII	20,619			2.54	%	20,619			2.20	%	8/15/2005	9/15/2035	3 month LIBOR + 1.69
Trust FCCI	16,495			2.45	%	16,495			2.11	%	1/25/2007	3/15/2037	3 month LIBOR + 1.60
Trust FCBI	10,310			2.40	%	10,310			2.06	%	9/30/2005	12/15/2035	3 month LIBOR + 1.55
Trust CS 2005-1	82,475			2.80	%	82,475			2.46	%	11/21/2005	12/15/2035	3 month LIBOR + 1.95
Trust CS 2005-2	128,866			2.71	%	128,866			2.27	%	12/14/2005	1/30/2036	3 month LIBOR + 1.95
Trust CS 2006-1	51,545			2.71	%	51,545			2.27	%	2/22/2006	4/30/2036	3 month LIBOR + 1.95
Trust CS 2006-2	51,550			2.71	%	51,550			2.27	%	9/27/2006	10/30/2036	3 month LIBOR + 1.95
Trust CS 2006-3 (1)	28,940			1.75	%	28,007			1.98	%	9/29/2006	10/30/2036	3 month EURIBOR + 2.05
Trust CS 2006-4	16,470			2.71	%	16,470			2.27	%	12/5/2006	1/30/2037	3 month LIBOR + 1.95
Trust CS 2006-5	6,650			2.71	%	6,650			2.27	%	12/19/2006	1/30/2037	3 month LIBOR + 1.95
Trust CS 2007-2	39,177			2.71	%	39,177			2.27	%	6/13/2007	7/30/2037	3 month LIBOR + 1.95
Gross subordinated debentures	540,728					539,795
Unamortized discount (2)	(99,616		)			(103,795		)
Net subordinated debentures	$	441,112				$	436,000

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

(2) Amount represents the fair value adjustment on subordinated debentures assumed in acquisitions.