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AVAILABLE-FOR-SALE INVESTMENT SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract] |
Schedule of amortized cost, gross unrealized gains, gross unrealized losses and fair value by major categories of available-for-sale investment securities | The following table presents the amortized cost, gross unrealized gains, gross unrealized losses and fair value by major categories of available-for-sale investment securities:
($ in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 750,032 |  |  | $ | 2,581 |  |  | $ | (8 | ) |  | $ | 752,605 |
U.S. government agency and U.S. government sponsored enterprise debt securities |  | 701,919 |  |  | 1,544 |  |  | (1,619 | ) |  | 701,844 |
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | 271,171 |  |  | 2,584 |  |  | (405 | ) |  | 273,350 |
Residential mortgage-backed securities |  | 746,632 |  |  | 10,081 |  |  | (1,815 | ) |  | 754,898 |
Municipal securities |  | 203,832 |  |  | 4,604 |  |  | (1,611 | ) |  | 206,825 |
Other residential mortgage-backed securities: |  |  |  |  |  |  |  |  |
Investment grade (1) |  | 65,706 |  |  | 947 |  |  | (116 | ) |  | 66,537 |
Corporate debt securities: |  |  |  |  |  |  |  |  |
Investment grade (1) |  | 142,216 |  |  | 22 |  |  | (1,112 | ) |  | 141,126 |
Non-investment grade (1) |  | 11,525 |  |  | — |  |  | (1,001 | ) |  | 10,524 |
Other securities |  | 44,280 |  |  | 693 |  |  | (405 | ) |  | 44,568 |
Total available-for-sale investment securities |  | $ | 2,937,313 |  |  | $ | 23,056 |  |  | $ | (8,092 | ) |  | $ | 2,952,277 |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 873,101 |  |  | $ | 1,971 |  |  | $ | (1,637 | ) |  | $ | 873,435 |
U.S. government agency and U.S. government sponsored enterprise debt securities |  | 311,927 |  |  | 490 |  |  | (1,393 | ) |  | 311,024 |
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | 140,957 |  |  | 1,056 |  |  | (593 | ) |  | 141,420 |
Residential mortgage-backed securities |  | 785,412 |  |  | 9,754 |  |  | (4,078 | ) |  | 791,088 |
Municipal securities |  | 245,408 |  |  | 6,202 |  |  | (1,162 | ) |  | 250,448 |
Other residential mortgage-backed securities: |  |  |  |  |  |  |  |  |
Investment grade (1) |  | 52,694 |  |  | 1,359 |  |  | (135 | ) |  | 53,918 |
Other commercial mortgage-backed securities: |  |  |  |  |  |  |  |  |
Investment grade (1) |  | 34,000 |  |  | 53 |  |  | — |  |  | 34,053 |
Corporate debt securities: |  |  |  |  |  |  |  |  |
Investment grade (1) |  | 116,236 |  |  | — |  |  | (1,054 | ) |  | 115,182 |
Non-investment grade (1) |  | 17,881 |  |  | — |  |  | (3,200 | ) |  | 14,681 |
Other securities |  | 41,691 |  |  | 393 |  |  | (716 | ) |  | 41,368 |
Total available-for-sale investment securities |  | $ | 2,619,307 |  |  | $ | 21,278 |  |  | $ | (13,968 | ) |  | $ | 2,626,617 |
(1) | Available-for-sale investment securities rated BBB- or higher by S&P or Baa3 or higher by Moody’s are considered investment grade. Conversely, available-for-sale investment securities rated lower than BBB- by S&P or lower than Baa3 by Moody’s are considered non-investment grade.
Schedule of sales of available-for-sale investment securities | The following table presents the proceeds, gross realized gains, and gross realized losses related to the sales of available-for-sale investment securities for the three and nine months ended September 30, 2015 and 2014:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
($ in thousands) |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Proceeds from sales |  | $ | 855,425 |  |  | $ | 43,788 |  |  | $ | 1,328,487 |  |  | $ | 395,630 |  |
Gross realized gains |  | $ | 17,036 |  |  | $ | 2,514 |  |  | $ | 26,994 |  |  | $ | 6,730 |  |
Gross realized losses |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 127 |  | (1)
Related tax expense |  | $ | 7,155 |  |  | $ | 1,056 |  |  | $ | 11,337 |  |  | $ | 2,773 |  |
(1) | The gross $127 thousand of losses resulted from the available-for-sale investment securities acquired from MetroCorp which were sold immediately after the acquisition closed.
Schedule of other than temporary impairment credit losses recognized in earnings | The following table presents a rollforward of the amounts related to the OTTI credit losses recognized in earnings for the three and nine months ended September 30, 2015 and 2014:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
($ in thousands) |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Beginning balance |  | $ | 106,688 |  |  | $ | 115,511 |  |  | $ | 112,338 |  |  | $ | 115,511 |  |
Addition of OTTI previously not recognized |  | — |  |  | — |  |  | — |  |  | — |  |
Additional increases to the amount related to the credit loss for which an OTTI was previously recognized |  | — |  |  | — |  |  | — |  |  | — |  |
Reduction for securities sold |  | (74,765 | ) |  | — |  |  | (80,415 | ) |  | — |  |
Ending balance |  | $ | 31,923 |  |  | $ | 115,511 |  |  | $ | 31,923 |  |  | $ | 115,511 |  |
Gross unrealized losses and related fair values of available-for-sale investment securities | The following tables present the Company’s investment portfolio’s gross unrealized losses and related fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of September 30, 2015 and December 31, 2014:
|  | Less Than 12 Months |  | 12 Months or More |  | Total
($ in thousands) |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 10,332 |  |  | $ | (1 | ) |  | $ | 20,479 |  |  | $ | (7 | ) |  | $ | 30,811 |  |  | $ | (8 | )
U.S. government agency and U.S. government sponsored enterprise debt securities |  | 180,594 |  |  | (1,619 | ) |  | — |  |  | — |  |  | 180,594 |  |  | (1,619 | )
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | 13,279 |  |  | (63 | ) |  | 21,500 |  |  | (342 | ) |  | 34,779 |  |  | (405 | )
Residential mortgage-backed securities |  | 122,716 |  |  | (520 | ) |  | 69,189 |  |  | (1,295 | ) |  | 191,905 |  |  | (1,815 | )
Municipal securities |  | 47,613 |  |  | (1,028 | ) |  | 14,536 |  |  | (583 | ) |  | 62,149 |  |  | (1,611 | )
Other residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade |  | 7,289 |  |  | (25 | ) |  | 6,576 |  |  | (91 | ) |  | 13,865 |  |  | (116 | )
Corporate debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade |  | 45,013 |  |  | (87 | ) |  | 90,114 |  |  | (1,025 | ) |  | 135,127 |  |  | (1,112 | )
Non-investment grade |  | — |  |  | — |  |  | 10,524 |  |  | (1,001 | ) |  | 10,524 |  |  | (1,001 | )
Other securities |  | 7,202 |  |  | (6 | ) |  | 8,601 |  |  | (399 | ) |  | 15,803 |  |  | (405 | )
Total available-for-sale investment securities |  | $ | 434,038 |  |  | $ | (3,349 | ) |  | $ | 241,519 |  |  | $ | (4,743 | ) |  | $ | 675,557 |  |  | $ | (8,092 | )
|  | Less Than 12 Months |  | 12 Months or More |  | Total
($ in thousands) |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 170,260 |  |  | $ | (266 | ) |  | $ | 163,800 |  |  | $ | (1,371 | ) |  | $ | 334,060 |  |  | $ | (1,637 | )
U.S. government agency and U.S. government sponsored enterprise debt securities |  | 69,438 |  |  | (504 | ) |  | 124,104 |  |  | (889 | ) |  | 193,542 |  |  | (1,393 | )
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | 45,405 |  |  | (257 | ) |  | 16,169 |  |  | (336 | ) |  | 61,574 |  |  | (593 | )
Residential mortgage-backed securities |  | 81,927 |  |  | (270 | ) |  | 241,047 |  |  | (3,808 | ) |  | 322,974 |  |  | (4,078 | )
Municipal securities |  | 6,391 |  |  | (26 | ) |  | 61,107 |  |  | (1,136 | ) |  | 67,498 |  |  | (1,162 | )
Other residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade |  | — |  |  | — |  |  | 7,217 |  |  | (135 | ) |  | 7,217 |  |  | (135 | )
Corporate debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade |  | 25,084 |  |  | (12 | ) |  | 90,098 |  |  | (1,042 | ) |  | 115,182 |  |  | (1,054 | )
Non-investment grade |  | — |  |  | — |  |  | 14,681 |  |  | (3,200 | ) |  | 14,681 |  |  | (3,200 | )
Other securities |  | 15,885 |  |  | (716 | ) |  | — |  |  | — |  |  | 15,885 |  |  | (716 | )
Total available-for-sale investment securities |  | $ | 414,390 |  |  | $ | (2,051 | ) |  | $ | 718,223 |  |  | $ | (11,917 | ) |  | $ | 1,132,613 |  |  | $ | (13,968 | )
Scheduled maturities of available-for-sale investment securities | The following table presents the scheduled maturities of available-for-sale investment securities as of September 30, 2015:
($ in thousands) |  | Amortized Cost |  | Fair Value
Due within one year |  | $ | 672,392 |  |  | $ | 672,656 |
Due after one year through five years |  | 994,971 |  |  | 1,000,431 |
Due after five years through ten years |  | 339,821 |  |  | 339,094 |
Due after ten years |  | 930,129 |  |  | 940,096 |
Total available-for-sale investment securities |  | $ | 2,937,313 |  |  | $ | 2,952,277 |

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