Borrowings and Subordinated Debentures (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of debt

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

	September 30, 2017				December 31, 2016
			Weighted				Weighted
			Average				Average
	Amount		Rate		Amount		Rate
	(Dollars in thousands)
Non‑recourse debt	$	399	6.82	%	$	812	6.41	%
FHLB secured advances	115,000		1.14	%	735,000		0.59	%
FHLB unsecured overnight advance	135,000		1.15	%	130,000		0.55	%
AFX borrowings	—		—	%	40,000		0.81	%
Total borrowings	$	250,399			$	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:

	September 30, 2017					December 31, 2016					Date	Maturity	Rate Index
Series	Amount			Rate		Amount			Rate		Issued	Date	(Quarterly Reset)
	(Dollars in thousands)
Trust V	$	10,310		4.42	%	$	10,310		4.09	%	8/15/2003	9/17/2033	3 month LIBOR + 3.10
Trust VI	10,310			4.37	%	10,310			4.01	%	9/3/2003	9/15/2033	3 month LIBOR + 3.05
Trust CII	5,155			4.27	%	5,155			3.95	%	9/17/2003	9/17/2033	3 month LIBOR + 2.95
Trust VII	61,856			4.06	%	61,856			3.64	%	2/5/2004	4/23/2034	3 month LIBOR + 2.75
Trust CIII	20,619			3.01	%	20,619			2.65	%	8/15/2005	9/15/2035	3 month LIBOR + 1.69
Trust FCCI	16,495			2.92	%	16,495			2.56	%	1/25/2007	3/15/2037	3 month LIBOR + 1.60
Trust FCBI	10,310			2.87	%	10,310			2.51	%	9/30/2005	12/15/2035	3 month LIBOR + 1.55
Trust CS 2005-1	82,475			3.27	%	82,475			2.91	%	11/21/2005	12/15/2035	3 month LIBOR + 1.95
Trust CS 2005-2	128,866			3.26	%	128,866			2.84	%	12/14/2005	1/30/2036	3 month LIBOR + 1.95
Trust CS 2006-1	51,545			3.26	%	51,545			2.84	%	2/22/2006	4/30/2036	3 month LIBOR + 1.95
Trust CS 2006-2	51,550			3.26	%	51,550			2.84	%	9/27/2006	10/30/2036	3 month LIBOR + 1.95
Trust CS 2006-3 (1)	30,422			1.72	%	27,185			1.74	%	9/29/2006	10/30/2036	3 month EURIBOR + 2.05
Trust CS 2006-4	16,470			3.26	%	16,470			2.84	%	12/5/2006	1/30/2037	3 month LIBOR + 1.95
Trust CS 2006-5	6,650			3.26	%	6,650			2.84	%	12/19/2006	1/30/2037	3 month LIBOR + 1.95
Trust CS 2007-2	39,177			3.26	%	39,177			2.84	%	6/13/2007	7/30/2037	3 month LIBOR + 1.95
Gross subordinated debentures	542,210					538,973
Unamortized discount (2)	(94,084		)			(98,229		)
Net subordinated debentures	$	448,126				$	440,744

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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