XML 25 R12.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Deposits | 6 Months Ended
--- | ---
Jun. 30, 2017
Banking and Thrift [Abstract] |
Deposits | Deposits The following table summarizes total deposits at June 30, 2017 and December 31, 2016.
|  | June 30, |  | December 31, |
|  | 2017 |  | 2016 |
Deposits - interest bearing |  | $ | 13,793,200 |  |  | $ | 13,434,990 |  |
Deposits - non-interest bearing |  | 1,615 |  |  | 677 |  |
Total deposits |  | $ | 13,794,815 |  |  | $ | 13,435,667 |  |
Interest bearing deposits as of June 30, 2017 and December 31, 2016 consisted of retail non-maturity savings deposits, retail and brokered non-maturity money market deposits (“MMDAs”) and brokered and retail certificates of deposit (“CDs”). Interest bearing deposits include deposits from Educational 529 and Health Savings plans that diversify our funding sources and add deposits we consider to be core. These and other large omnibus accounts, aggregating the deposits of many individual depositors, represented $5.4 billion of our deposit total as of June 30, 2017. Some of our deposit products are serviced by third-party providers. Placement fees associated with the brokered CDs are amortized into interest expense using the effective interest rate method. We recognized placement fee expense of $2.2 million and $2.6 million in the three months ended June 30, 2017 and 2016, respectively, and placement fee expense of $4.3 million and $5.2 million in the six months ended June 30, 2017 and 2016, respectively. Fees paid to third-party brokers related to brokered CDs were $3.2 million and $0.1 million for the three months ended June 30, 2017 and 2016, respectively, and fees paid to third-party brokers related to brokered CDs were $5.3 million and $2.9 million for the six months ended June 30, 2017 and 2016, respectively. Interest bearing deposits at June 30, 2017 and December 31, 2016 are summarized as follows:
|  | June 30, 2017 |  | December 31, 2016 |
|  | Amount |  | Qtr.-End Weighted Average Stated Rate(1) |  | Amount |  | Year-End Weighted Average Stated Rate(1) |
Money market |  | $ | 7,167,473 |  |  | 1.55 | % |  | $ | 7,129,404 |  |  | 1.22 | % |
Savings |  | 847,714 |  |  | 0.99 |  |  | 834,521 |  |  | 0.84 |  |
Certificates of deposit |  | 5,778,013 |  |  | 1.73 |  |  | 5,471,065 |  |  | 1.41 |  |
Deposits - interest bearing |  | $ | 13,793,200 |  |  |  |  | $ | 13,434,990 |  |  |  |  |
____________ (1) Includes the effect of interest rate swaps in effective hedge relationships. As of June 30, 2017 and December 31, 2016, there were $259.6 million and $304.5 million, respectively, of deposits exceeding Federal Deposit Insurance Corporation (“FDIC”) insurance limits. Accrued interest on deposits was $21.8 million and $18.9 million at June 30, 2017 and December 31, 2016, respectively.

X
- References No definition available. + Details
Name: | us-gaap_BankingAndThriftAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=50488274&loc=d3e64164-112818 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_DepositLiabilitiesDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration