Fair Value Measurements (Tables)
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12 Months Ended |
Dec. 31, 2019 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following tables present assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018 (in thousands): | | | | | | | | | | | | | | 2019 | | Level 1 | | Level 2 | | Total | Investment securities available for sale: | |
| | |
| | |
| U.S. Treasury securities | $ | 70,325 |
| | $ | — |
| | $ | 70,325 |
| U.S. Government agency and sponsored enterprise residential MBS | — |
| | 2,022,175 |
| | 2,022,175 |
| U.S. Government agency and sponsored enterprise commercial MBS | — |
| | 370,976 |
| | 370,976 |
| Private label residential MBS and CMOs | — |
| | 1,012,177 |
| | 1,012,177 |
| Private label commercial MBS | — |
| | 1,724,684 |
| | 1,724,684 |
| Single family rental real estate-backed securities | — |
| | 470,025 |
| | 470,025 |
| Collateralized loan obligations | — |
| | 1,197,366 |
| | 1,197,366 |
| Non-mortgage asset-backed securities | — |
| | 194,904 |
| | 194,904 |
| State and municipal obligations | — |
| | 273,302 |
| | 273,302 |
| SBA securities | — |
| | 362,731 |
| | 362,731 |
| Marketable equity securities | 60,572 |
| | — |
| | 60,572 |
| Servicing rights | — |
| | 7,977 |
| | 7,977 |
| Derivative assets | — |
| | 43,686 |
| | 43,686 |
| Total assets at fair value | $ | 130,897 |
| | $ | 7,680,003 |
| | $ | 7,810,900 |
| Derivative liabilities | $ | — |
| | $ | (19,029 | ) | | $ | (19,029 | ) | Total liabilities at fair value | $ | — |
| | $ | (19,029 | ) | | $ | (19,029 | ) |
| | | | | | | | | | | | | | | | | | 2018 | | Level 1 | | Level 2 | | Level 3 | | Total | Investment securities available for sale: | |
| | |
| | |
| | |
| U.S. Treasury securities | $ | 39,873 |
| | $ | — |
| | $ | — |
| | $ | 39,873 |
| U.S. Government agency and sponsored enterprise residential MBS | — |
| | 1,897,474 |
| | — |
| | 1,897,474 |
| U.S. Government agency and sponsored enterprise commercial MBS | — |
| | 374,787 |
| | — |
| | 374,787 |
| Private label residential MBS and CMOs | — |
| | 1,499,514 |
| | 34,684 |
| | 1,534,198 |
| Private label commercial MBS | — |
| | 1,485,716 |
| | — |
| | 1,485,716 |
| Single family rental real estate-backed securities | — |
| | 402,458 |
| | — |
| | 402,458 |
| Collateralized loan obligations | — |
| | 1,235,198 |
| | — |
| | 1,235,198 |
| Non-mortgage asset-backed securities | — |
| | 204,067 |
| | — |
| | 204,067 |
| State and municipal obligations | — |
| | 398,429 |
| | — |
| | 398,429 |
| SBA securities | — |
| | 519,313 |
| | — |
| | 519,313 |
| Other debt securities | — |
| | — |
| | 4,846 |
| | 4,846 |
| Marketable equity securities | 60,519 |
| | — |
| | — |
| | 60,519 |
| Servicing rights | — |
| | — |
| | 9,525 |
| | 9,525 |
| Derivative assets | — |
| | 29,615 |
| | — |
| | 29,615 |
| Total assets at fair value | $ | 100,392 |
| | $ | 8,046,571 |
| | $ | 49,055 |
| | $ | 8,196,018 |
| Derivative liabilities | $ | — |
| | $ | (23,874 | ) | | $ | — |
| | $ | (23,874 | ) | Total liabilities at fair value | $ | — |
| | $ | (23,874 | ) | | $ | — |
| | $ | (23,874 | ) |
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| Schedule of Assets for Which Nonrecurring Changes in Fair Value have been Recorded |
sent the carrying value of assets for which non-recurring changes in fair value have been recorded for the years ended December 31, 2019, 2018 and 2017 (in thousands): | | | | | | | | | | | | | | | | | | | | | | 2019 | | | | Losses from Fair Value Changes | | Level 1 | | Level 2 | | Level 3 | | Total | | Year Ended December 31, 2019 | OREO and repossessed assets | $ | — |
| | $ | — |
| | $ | 1,098 |
| | $ | 1,098 |
| | $ | (2,351 | ) | Impaired loans | $ | — |
| | $ | — |
| | $ | 79,982 |
| | $ | 79,982 |
| | $ | (7,727 | ) | Operating lease equipment | $ | — |
| | $ | — |
| | $ | 2,919 |
| | $ | 2,919 |
| | $ | (1,856 | ) |
| | | | | | | | | | | | | | | | | | | | | | 2018 | | | | Losses from Fair Value Changes | | Level 1 | | Level 2 | | Level 3 | | Total | | Year Ended December 31, 2018 | OREO and repossessed assets | $ | — |
| | $ | 1,085 |
| | $ | 486 |
| | $ | 1,571 |
| | $ | (1,864 | ) | Impaired loans | $ | — |
| | $ | 775 |
| | $ | 35,397 |
| | $ | 36,172 |
| | $ | (6,816 | ) |
| | | | | | | | | | | | | | | | | | | | | | 2017 | | | | Losses from Fair Value Changes | | Level 1 | | Level 2 | | Level 3 | | Total | | Year Ended December 31, 2017 | OREO and repossessed assets | $ | — |
| | $ | — |
| | $ | 5,790 |
| | $ | 5,790 |
| | $ | (2,078 | ) | Impaired loans | $ | — |
| | $ | — |
| | $ | 93,051 |
| | $ | 93,051 |
| | $ | (65,716 | ) |
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| Schedule of the Carrying Value and Fair Value of Financial Instruments |
ents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified as of December 31, 2019 and 2018 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | 2019 | | 2018 | | Level | | Carrying Value | | Fair Value | | Carrying Value | | Fair Value | Assets: | | | |
| | |
| | |
| | |
| Cash and cash equivalents | 1 | | $ | 214,673 |
| | $ | 214,673 |
| | $ | 382,073 |
| | $ | 382,073 |
| Investment securities | 1/2/3 | | $ | 7,769,237 |
| | $ | 7,769,949 |
| | $ | 8,166,878 |
| | $ | 8,167,127 |
| Non-marketable equity securities | 2 | | $ | 253,664 |
| | $ | 253,664 |
| | $ | 267,052 |
| | $ | 267,052 |
| Loans held for sale | 2 | | $ | 37,926 |
| | $ | 39,731 |
| | $ | 36,992 |
| | $ | 39,931 |
| Loans | 3 | | $ | 23,046,317 |
| | $ | 23,350,684 |
| | $ | 21,867,077 |
| | $ | 21,868,258 |
| Derivative assets | 2 | | $ | 43,686 |
| | $ | 43,686 |
| | $ | 29,615 |
| | $ | 29,615 |
| Liabilities: | | | | | | | | | | Demand, savings and money market deposits | 2 | | $ | 17,047,344 |
| | $ | 17,047,344 |
| | $ | 16,654,465 |
| | $ | 16,654,465 |
| Time deposits | 2 | | $ | 7,347,247 |
| | $ | 7,377,301 |
| | $ | 6,819,758 |
| | $ | 6,820,355 |
| Federal funds purchased | 2 | | $ | 100,000 |
| | $ | 100,000 |
| | $ | 175,000 |
| | $ | 175,000 |
| FHLB advances | 2 | | $ | 4,480,501 |
| | $ | 4,500,969 |
| | $ | 4,796,000 |
| | $ | 4,810,446 |
| Notes and other borrowings | 2 | | $ | 429,338 |
| | $ | 473,327 |
| | $ | 402,749 |
| | $ | 416,142 |
| Derivative liabilities | 2 | | $ | 19,029 |
| | $ | 19,029 |
| | $ | 23,874 |
| | $ | 23,874 |
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