PRESENTATION OF DEBT ISSUANCE COSTS

12 Months Ended

Dec. 31, 2015

Presentation Of Debt Issuance Costs [Abstract]

PRESENTATION OF DEBT ISSUANCE COSTS

21. PRESENTATION OF DEBT ISSUANCE COSTS

During the third quarter of 2015, the Company adopted Accounting Standards Update (“ASU”) No. 2015-03 “Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability. This ASU is required to be applied retrospectively to all periods presented. The following table summarizes the impact of retrospective application to the balance sheet for the year ended December 31, 2014:

(in thousands)	December 31, 2014
Other assets
As previously reported	$	19,373
As reported under the new guidance		19,244
Total assets
As previously reported	$	2,288,653
As reported under the new guidance		2,288,524
Junior subordinated debentures
As previously reported	$	16,002
As reported under the new guidance		15,873
Total liabilities
As previously reported	$	2,113,535
As reported under the new guidance		2,113,406