XML 42 R27.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2016
Segment Reporting | NOTE 19: SEGMENT REPORTING The Company’s operations are divided into two reportable business segments: Banking Operations and Residential Mortgage Banking. These operating segments have been identified based on the Company’s organizational structure. The segments require unique technology and marketing strategies, and offer different products and services. While the Company is managed as an integrated organization, individual executive managers are held accountable for the operations of these business segments. The Company measures and presents information for internal reporting purposes in a variety of ways. The internal reporting system presently used by management in the planning and measurement of operating activities, and to which most managers are held accountable, is based on organizational structure. The management accounting process uses various estimates and allocation methodologies to measure the performance of the operating segments. To determine financial performance for each segment, the Company allocates capital, funding charges and credits, certain non-interest expenses, and income tax provisions to each segment, as applicable. Allocation methodologies are subject to periodic adjustment as the internal management accounting system is revised and/or as business or product lines within the segments change. In addition, because the development and application of these methodologies is a dynamic process, the financial results presented may be periodically revised. The Company seeks to maximize shareholder value by, among other means, optimizing the return on stockholders’ equity and managing risk. Capital is assigned to each segment, the combination of which is equivalent to the Company’s consolidated total, on an economic basis, using management’s assessment of the inherent risks associated with the respective segments. The Company allocates expenses to the reportable segments based on various factors, including the volume and number of loans produced and the number of full-time equivalent employees. Income taxes are allocated to the various segments based on taxable income and statutory rates applicable to the segment. Banking Operations Segment The Banking Operations segment serves consumers and businesses by offering and servicing a variety of loan and deposit products and other financial services. Residential Mortgage Banking Segment The Residential Mortgage Banking segment originates, aggregates, sells, and services one-to-four family mortgage loans. Mortgage loan products consist primarily of agency-conforming, fixed and adjustable rate loans and, to a lesser extent, jumbo loans, for the purpose of purchasing or refinancing one-to-four family homes. The Residential Mortgage Banking segment earns interest on loans held in the warehouse and non-interest income from the origination and servicing of loans. It also recognizes gains or losses on the sale of such loans. The following tables provide a summary of the Company’s segment results for the years ended December 31, 2016, 2015, and 2014 on an internally managed accounting basis:
|  | For the Twelve Months Ended December 31, 2016 |
(in thousands) |  | Banking Operations |  |  | Residential Mortgage Banking |  |  | Total Company |
Net interest income |  | $ | 1,272,423 |  |  | $ | 14,959 |  |  | $ | 1,287,382 |
Provision for loan losses |  |  | 4,180 |  |  |  | — |  |  |  | 4,180 |
Non-Interest Income: |  |  |  |  |  |  |  |  |  |  |  |
Third party(1) |  |  | 116,200 |  |  |  | 29,372 |  |  |  | 145,572 |
Inter-segment |  |  | (17,645 | ) |  |  | 17,645 |  |  |  | — |
Total non-interest income |  |  | 98,555 |  |  |  | 47,017 |  |  |  | 145,572 |
Non-interest expense(2) |  |  | 584,894 |  |  |  | 66,752 |  |  |  | 651,646 |
Income (loss) before income tax expense (benefit) |  |  | 781,904 |  |  |  | (4,776 | ) |  |  | 777,128 |
Income tax expense (benefit) |  |  | 283,656 |  |  |  | (1,929 | ) |  |  | 281,727 |
Net income (loss) |  | $ | 498,248 |  |  | $ | (2,847 | ) |  | $ | 495,401 |
Identifiable segment assets (period-end) |  | $ | 48,195,581 |  |  | $ | 730,974 |  |  | $ | 48,926,555 |
(1) | Includes ancillary fee income.
(2) | Includes both direct and indirect expenses.
|  | For the Twelve Months Ended December 31, 2015 |
(in thousands) |  | Banking Operations |  |  | Residential Mortgage Banking |  |  | Total Company |
Net interest income |  | $ | 393,074 |  |  | $ | 15,001 |  |  | $ | 408,075 |
Recoveries of loan losses |  |  | (15,004 | ) |  |  | — |  |  |  | (15,004 | )
Non-Interest Income: |  |  |  |  |  |  |  |  |  |  |  |
Third party(1) |  |  | 154,847 |  |  |  | 55,916 |  |  |  | 210,763 |
Inter-segment |  |  | (15,359 | ) |  |  | 15,359 |  |  |  | — |
Total non-interest income |  |  | 139,488 |  |  |  | 71,275 |  |  |  | 210,763 |
Non-interest expense(2) |  |  | 700,469 |  |  |  | 65,386 |  |  |  | 765,855 |
(Loss) income before income tax expense |  |  | (152,903 | ) |  |  | 20,890 |  |  |  | (132,013 | )
Income tax (benefit) expense |  |  | (93,297 | ) |  |  | 8,440 |  |  |  | (84,857 | )
Net (loss) income |  | $ | (59,606 | ) |  | $ | 12,450 |  |  | $ | (47,156 | )
Identifiable segment assets (period-end) |  | $ | 49,619,931 |  |  | $ | 697,865 |  |  | $ | 50,317,796 |
(1) | Includes ancillary fee income.
(2) | Includes both direct and indirect expenses
|  | For the Twelve Months Ended December 31, 2014 |
(in thousands) |  | Banking Operations |  |  | Residential Mortgage Banking |  |  | Total Company |
Net interest income |  | $ | 1,126,162 |  |  | $ | 14,191 |  |  | $ | 1,140,353 |
Recoveries of loan losses |  |  | (18,587 | ) |  |  | — |  |  |  | (18,587 | )
Non-Interest Income: |  |  |  |  |  |  |  |  |  |  |  |
Third party(1) |  |  | 135,834 |  |  |  | 65,759 |  |  |  | 201,593 |
Inter-segment |  |  | (13,521 | ) |  |  | 13,521 |  |  |  | — |
Total non-interest income |  |  | 122,313 |  |  |  | 79,280 |  |  |  | 201,593 |
Non-interest expense(2) |  |  | 528,436 |  |  |  | 59,031 |  |  |  | 587,467 |
Income before income tax expense |  |  | 738,626 |  |  |  | 34,440 |  |  |  | 773,066 |
Income tax expense |  |  | 274,179 |  |  |  | 13,490 |  |  |  | 287,669 |
Net income |  | $ | 464,447 |  |  | $ | 20,950 |  |  | $ | 485,397 |
Identifiable segment assets (period-end) |  | $ | 47,897,672 |  |  | $ | 661,545 |  |  | $ | 48,559,217 |
(1) | Includes ancillary fee income.
(2) | Includes both direct and indirect expenses.

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration