Stockholders' Equity and EPS (Tables)

3 Months Ended

Mar. 31, 2020

Equity and Earnings Per Share [Abstract]

Schedule of Stock by Class [Table Text Block]

The following table summarizes our preferred stock at March 31, 2020:

Series	Description	Amount outstanding (in millions)		Carrying value (in millions)		Shares issued and outstanding	Par Value		Ownership interest per depository share	Liquidation preference per depository share		2020 dividends paid per depository share
Series A	5.250% Fixed-Rate Non-Cumulative Perpetual Preferred Stock	$	350	$	340.1	350,000	$	0.001	1/40th	$	25	$	0.24

Reclassification out of Accumulated Other Comprehensive Income

The following table summarizes the items reclassified out of accumulated other comprehensive income into the Consolidated Statements of Income (unaudited) for the three months ended March 31, 2020 and 2019:

		Three months ended March 31,
(Dollars in thousands)	Income Statement Location	2020			2019
Reclassification adjustment for (gains) losses on available-for-sale securities included in net income	Gains on investment securities, net	$	(61,165	)	$	3,630
Related tax expense (benefit)	Income tax expense	16,953			(1,010		)
Reclassification adjustment for (gains) losses on cash flow hedges included in net income	Net interest income	(2,089		)	3
Related tax expense (benefit)	Income tax expense	579			(1		)
Total reclassification adjustment for (gains) losses included in net income, net of tax		$	(45,722	)	$	2,622

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The table below summarizes the activity relating to net gains and losses on our cash flow hedges included in accumulated other comprehensive income for the three months ended March 31, 2020 and 2019. Refer to Note 11 — “Derivative Financial Instruments” of the “Notes to Interim Consolidated Financial Statements (unaudited)” under Part I, Item 1 of this report for additional information regarding the termination of our cash flow hedges during the three months ended March 31, 2020. Over the next 12 months, we expect that approximately $63.5 million in accumulated other comprehensive income ("AOCI") at March 31, 2020, related to unrealized gains will be reclassified out of AOCI and recognized in net income.

	Three months ended March 31,
(Dollars in thousands)	2020			2019
Balance, beginning of period, net of tax	$	(2,130	)	$	—
Net increase in fair value, net of tax	167,639			795
Net realized (gain) loss reclassified to net income, net of tax	(1,510		)	2
Balance, end of period, net of tax	$	163,999		$	797

Reconciliation of Basic EPS to Diluted EPS

The following is a reconciliation of basic EPS to diluted EPS for the three months ended March 31, 2020 and 2019:

	Three months ended March 31,
(Dollars and shares in thousands, except per share amounts)	2020		2019
Numerator:
Net income available to common stockholders	$	132,253	$	288,732
Denominator:
Weighted average common shares outstanding—basic	51,565		52,587
Weighted average effect of dilutive securities:
Stock options and ESPP	217		297
Restricted stock units and awards	162		225
Weighted average common shares outstanding—diluted	51,944		53,109
Earnings per common share:
Basic	$	2.56	$	5.49
Diluted	2.55		5.44

Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share

The following table summarizes the weighted-average common shares excluded from the diluted EPS calculation due to the antidilutive effect for the three months ended March 31, 2020 and 2019:

	Three months ended March 31,
(Shares in thousands)	2020	2019
Stock options	206	91
Restricted stock units	119	134
Total	325	225