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Borrowings and Subordinated Debentures (Tables)
 3 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Debt
The following table summarizes our borrowings as of the dates indicated:
 
March 31, 2017
 
December 31, 2016
 
 
 
Weighted
 
 
 
Weighted
 
 
 
Average
 
 
 
Average
 
Amount
 
Rate
 
Amount
 
Rate
 
(Dollars in thousands)
Non‑recourse debt
$
609

 
6.58
%
 
$
812

 
6.41
%
FHLB secured advances
290,000

 
0.80
%
 
735,000

 
0.59
%
FHLB unsecured overnight advance
130,000

 
0.81
%
 
130,000

 
0.55
%
American Financial Exchange borrowings
40,000

 
1.05
%
 
40,000

 
0.81
%
Total borrowings
$
460,609

 
 
 
$
905,812

 
 
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:
 
March 31, 2017
 
December 31, 2016
 
Date
 
Maturity
 
Rate Index
Series
Amount
 
Rate
 
Amount
 
Rate
 
Issued
 
Date
 
(Quarterly Reset)
 
(Dollars in thousands)
 
 
 
 
 
 
Trust V
$
10,310

 
4.25
%
 
$
10,310

 
4.09
%
 
8/15/2003
 
9/17/2033
 
3 month LIBOR + 3.10
Trust VI
10,310

 
4.18
%
 
10,310

 
4.01
%
 
9/3/2003
 
9/15/2033
 
3 month LIBOR + 3.05
Trust CII
5,155

 
4.10
%
 
5,155

 
3.95
%
 
9/17/2003
 
9/17/2033
 
3 month LIBOR + 2.95
Trust VII
61,856

 
3.79
%
 
61,856

 
3.64
%
 
2/5/2004
 
4/23/2034
 
3 month LIBOR + 2.75
Trust CIII
20,619

 
2.82
%
 
20,619

 
2.65
%
 
8/15/2005
 
9/15/2035
 
3 month LIBOR + 1.69
Trust FCCI
16,495

 
2.73
%
 
16,495

 
2.56
%
 
1/25/2007
 
3/15/2037
 
3 month LIBOR + 1.60
Trust FCBI
10,310

 
2.68
%
 
10,310

 
2.51
%
 
9/30/2005
 
12/15/2035
 
3 month LIBOR + 1.55
Trust CS 2005-1
82,475

 
3.08
%
 
82,475

 
2.91
%
 
11/21/2005
 
12/15/2035
 
3 month LIBOR + 1.95
Trust CS 2005-2
128,866

 
2.99
%
 
128,866

 
2.84
%
 
12/14/2005
 
1/30/2036
 
3 month LIBOR + 1.95
Trust CS 2006-1
51,545

 
2.99
%
 
51,545

 
2.84
%
 
2/22/2006
 
4/30/2036
 
3 month LIBOR + 1.95
Trust CS 2006-2
51,550

 
2.99
%
 
51,550

 
2.84
%
 
9/27/2006
 
10/30/2036
 
3 month LIBOR + 1.95
Trust CS 2006-3 (1)
27,572

 
1.72
%
 
27,185

 
1.74
%
 
9/29/2006
 
10/30/2036
 
3 month EURIBOR + 2.05
Trust CS 2006-4
16,470

 
2.99
%
 
16,470

 
2.84
%
 
12/5/2006
 
1/30/2037
 
3 month LIBOR + 1.95
Trust CS 2006-5
6,650

 
2.99
%
 
6,650

 
2.84
%
 
12/19/2006
 
1/30/2037
 
3 month LIBOR + 1.95
Trust CS 2007-2
39,177

 
2.99
%
 
39,177

 
2.84
%
 
6/13/2007
 
7/30/2037
 
3 month LIBOR + 1.95
Gross subordinated debentures
539,360

 
 
 
538,973

 
 
 
 
 
 
 
 
Unamortized discount (2)
(96,844
)
 
 
 
(98,229
)
 
 
 
 
 
 
 
 
Net subordinated debentures
$
442,516

 
 
 
$
440,744

 
 
 
 
 
 
 
 
___________________
(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.