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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis 1 [Table Text Block] | Assets and liabilities measured at fair value on a recurring and non-recurring basis, including financial liabilities for which the Company has elected the fair value option, are summarized below:
| March 31, 2014
| Fair Value Measurements
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale | $ | - |  | $ | 1,435,632 |  | $ | 20,053 |  | $ | 1,455,685
Money market investments |  | 7,652 |  |  | - |  |  | - |  |  | 7,652
Derivative assets |  | - |  |  | 3,306 |  |  | 12,555 |  |  | 15,861
Servicing assets |  | - |  |  | - |  |  | 13,970 |  |  | 13,970
Derivative liabilities |  | - |  |  | (13,830) |  |  | (12,120) |  |  | (25,950)
| $ | 7,652 |  | $ | 1,425,108 |  | $ | 34,458 |  | $ | 1,467,218
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Impaired commercial loans | $ | - |  | $ | - |  | $ | 27,975 |  | $ | 27,975
Foreclosed real estate |  | - |  |  | - |  |  | 96,884 |  |  | 96,884
| $ | - |  | $ | - |  | $ | 124,859 |  | $ | 124,859
| December 31, 2013
| Fair Value Measurements
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale | $ | - |  | $ | 1,568,745 |  | $ | 19,680 |  | $ | 1,588,425
Securities purchased under agreements to resell |  | - |  |  | 60,000 |  |  | - |  |  | 60,000
Money market investments |  | 6,967 |  |  | - |  |  | - |  |  | 6,967
Derivative assets |  | - |  |  | 4,072 |  |  | 16,430 |  |  | 20,502
Servicing assets |  | - |  |  | - |  |  | 13,801 |  |  | 13,801
Derivative liabilities |  | - |  |  | (14,937) |  |  | (15,736) |  |  | (30,673)
| $ | 6,967 |  | $ | 1,617,880 |  | $ | 34,175 |  | $ | 1,659,022
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Impaired commercial loans | $ | - |  | $ | - |  | $ | 28,353 |  | $ | 28,353
Foreclosed real estate |  | - |  |  | - |  |  | 90,024 |  |  | 90,024
| $ | - |  | $ | - |  | $ | 118,377 |  | $ | 118,377
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block] | The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended March 3 1, 2014 and 2013:
| Quarter Ended March 31, 2014
|  |  |  | Derivative |  |  |  |  | Derivative |  |  |
|  | Other |  | asset |  |  |  |  | liability |  |  |
|  | debt |  | (S&P |  |  |  |  | (S&P |  |  |
|  | securities |  | Purchased |  | Servicing |  | Embedded |  |  |
Level 3 Instruments Only |  | available-for-sale |  | Options) |  | assets |  | Options) |  | Total
| (In thousands)
Balance at beginning of year |  | $ | 19,680 |  | $ | 16,430 |  | $ | 13,801 |  | $ | (15,736) |  | $ | 34,175
Gains (losses) included in earnings |  |  | - |  |  | (3,875) |  |  | - |  |  | 3,373 |  |  | (502)
Changes in fair value of investment securities available for sale included in other comprehensive income |  |  | 373 |  |  | - |  |  | - |  |  | - |  |  | 373
New instruments acquired |  |  | - |  |  | - |  |  | 563 |  |  | - |  |  | 563
Principal repayments |  |  | - |  |  | - |  |  | (196) |  |  | - |  |  | (196)
Amortization |  |  | - |  |  | - |  |  | - |  |  | 243 |  |  | 243
Changes in fair value of servicing assets |  |  | - |  |  | - |  |  | (198) |  |  | - |  |  | (198)
Balance at end of year |  | $ | 20,053 |  | $ | 12,555 |  | $ | 13,970 |  | $ | (12,120) |  | $ | 34,458
| Quarter Ended March 31, 2013
| Investment securities |  |  |  |  |  |  |  |  |  |  |  |
| available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Derivative |  |  |  |  | Derivative |  |  |
|  |  |  |  |  | asset |  |  |  |  | liability |  |  |
|  |  |  | Other |  | (S&P |  |  |  |  | (S&P |  |  |
|  |  |  | debt |  | Purchased |  | Servicing |  | Embedded |  |  |
Level 3 Instruments Only | CLOs |  | securities |  | Options) |  | assets |  | Options) |  | Total
Balance at beginning of period | $ | 27,280 |  | $ | 10,016 |  | $ | 11,367 |  | $ | 10,776 |  | $ | (10,912) |  | $ | 48,527
Gains (losses) included in earnings |  | - |  |  | - |  |  | 1,721 |  |  | - |  |  | (1,707) |  |  | 14
Changes in fair value of investment securities available for sale included in other comprehensive income |  | 1,705 |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | 1,706
New instruments acquired |  | - |  |  | - |  |  | - |  |  | 487 |  |  | - |  |  | 487
Principal repayments |  | - |  |  | - |  |  | - |  |  | (307) |  |  | - |  |  | (307)
Amortization |  | 17 |  |  | - |  |  | - |  |  | - |  |  | 50 |  |  | 67
Changes in fair value of servicing assets |  | - |  |  | - |  |  | - |  |  | (314) |  |  | - |  |  | (314)
Balance at end of period | $ | 29,002 |  | $ | 10,017 |  | $ | 13,088 |  | $ | 10,642 |  | $ | (12,569) |  | $ | 50,180
|  | March 31, 2014
|  | Fair Value |  | Valuation Technique |  | Unobservable Input |  | Range
|  | (In thousands) |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |
Other debt securities |  | $ | 20,053 |  | Market comparable bonds |  | Indicative pricing |  | 97.125% - 98.975%
|  |  |  |  |  |  | Option adjusted spread |  | 683.7% - 1602.0%
|  |  |  |  |  |  | Yield to maturity |  | 7.05% - 15.89%
|  |  |  |  |  |  | Spread to maturity |  | 689.9% - 1579.0%
Derivative assets (S&P Purchased Options) |  | $ | 12,555 |  | Option pricing model |  | Implied option volatility |  | 22.887% - 53.615%
|  |  |  |  |  |  | Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) |  | 56.360% - 86.490%
Servicing assets |  | $ | 13,970 |  | Cash flow valuation |  | Constant prepayment rate |  | 5.60% - 10.08%
|  |  |  |  |  |  | Discount rate |  | 10.00% - 12.00%
Derivative liability (S&P Embedded Options) |  | $ | (12,120) |  | Option pricing model |  | Implied option volatility |  | 22.887% - 53.615%
|  |  |  |  |  |  | Counterparty credit risk (based on 5-year CDS spread) |  | 56.360% - 86.490%
Collateral dependant impaired loans |  | $ | 27,975 |  | Fair value of property or collateral |  | Appraised value less disposition costs |  | 21.30% - 28.30%
Available-for-sale Securities Classified As Level 3 [Table Text Block] | The table below presents a detail of investment securities available-for-sale classified as L evel 3 at March 31, 201 4:
|  | March 31, 2014
|  |  |  |  |  |  |  |  |  | Weighted |  |
|  | Amortized |  | Unrealized |  |  |  |  | Average |  | Principal
Type |  | Cost |  | Gains (Losses) |  | Fair Value |  | Yield |  | Protection
|  | (In thousands)
Other debt securities |  | $ | 20,000 |  | $ | 53 |  | $ | 20,053 |  | 3.50% |  | N/A
Fair Value By Balance Sheet Grouping [Text Block] | The estimated fair value and carrying value of the Company's financial instruments at March 31, 2014 and December 31, 201 3 is as follows:
| March 31, |  | December 31,
| 2014 |  | 2013
| Fair |  | Carrying |  | Fair |  | Carrying
| Value |  | Value |  | Value |  | Value
| (In thousands)
Level 1 |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 624,636 |  | $ | 624,636 |  | $ | 621,269 |  | $ | 621,269
Restricted cash |  | 15,170 |  |  | 15,170 |  |  | 82,199 |  |  | 82,199
Level 2 |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |
Securities purchased under agreements to resell |  | - |  |  | - |  |  | 60,000 |  |  | 60,000
Trading securities |  | 1,910 |  |  | 1,910 |  |  | 1,869 |  |  | 1,869
Investment securities available-for-sale |  | 1,435,632 |  |  | 1,435,632 |  |  | 1,568,745 |  |  | 1,568,745
Federal Home Loan Bank (FHLB) stock |  | 24,430 |  |  | 24,430 |  |  | 24,450 |  |  | 24,450
Derivative assets |  | 3,306 |  |  | 3,306 |  |  | 4,072 |  |  | 4,072
Derivative liabilities |  | 13,830 |  |  | 13,830 |  |  | 14,937 |  |  | 14,937
Level 3 |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale |  | 20,053 |  |  | 20,053 |  |  | 19,680 |  |  | 19,680
Total loans (including loans held-for-sale) |  |  |  |  |  |  |  |  |  |  |
Non-covered loans, net |  | 4,737,604 |  |  | 4,654,749 |  |  | 4,857,505 |  |  | 4,662,458
Covered loans, net |  | 400,355 |  |  | 347,865 |  |  | 459,444 |  |  | 356,961
Derivative assets |  | 12,555 |  |  | 12,555 |  |  | 16,430 |  |  | 16,430
FDIC shared-loss indemnification asset |  | 106,170 |  |  | 166,194 |  |  | 152,965 |  |  | 189,240
Accrued interest receivable |  | 18,969 |  |  | 18,969 |  |  | 18,734 |  |  | 18,734
Servicing assets |  | 13,970 |  |  | 13,970 |  |  | 13,801 |  |  | 13,801
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |
Deposits |  | 5,247,226 |  |  | 5,300,992 |  |  | 5,409,540 |  |  | 5,383,265
Securities sold under agreements to repurchase |  | 1,076,000 |  |  | 1,012,240 |  |  | 1,323,903 |  |  | 1,267,618
Advances from FHLB |  | 340,805 |  |  | 335,689 |  |  | 335,324 |  |  | 336,143
Federal funds purchased |  | 23,712 |  |  | 23,712 |  |  | - |  |  | -
Term notes |  | 3,583 |  |  | 3,708 |  |  | 3,638 |  |  | 3,663
Subordinated capital notes |  | 87,240 |  |  | 100,404 |  |  | 99,316 |  |  | 100,010
Accrued expenses and other liabilities |  | 140,037 |  |  | 140,037 |  |  | 144,424 |  |  | 144,424

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- Definition Tabular disclosure of available-for-sale securities classified at level 3 which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a,b,bb) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=25499696&loc=SL7498348-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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