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Derivative Financial Instruments and Hedging (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments [Table Text Block]
The following table summarizes the gross notional and fair value amounts of derivatives (on a gross basis) categorized by underlying risk:
 
As of September 30, 2016
 
As of December 31, 2015
 
Notional
Values
 
Asset
Derivatives
 
Liability
Derivatives
 
Notional
Values
 
Asset
Derivatives
 
Liability
Derivatives
Credit risk:
 
 
 
 
 
 
 
 
 
 
 
Credit derivatives sold protection
$
297,612

 
$
31,948

 
$
—

 
$
297,612

 
$
41,126

 
$
—

Credit derivatives bought protection
298,173

 
—

 
18,210

 
300,529

 
106

 
27,655

Sub-total
595,785

 
31,948

 
18,210

 
598,141

 
41,232

 
27,655

 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency risk:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency forward contracts
992

 
—

 
—

 
683

 
—

 
5

 
 
 
 
 
 
 
 
 
 
 
 
Interest rate risk:
 
 
 
 
 
 
 
 
 
 
 
Interest rate lock commitments
225,374

 
5,560

 
—

 
156,309

 
3,384

 
—

Forward delivery contracts
82,696

 
—

 
16

 
52,054

 
11

 
8

TBA mortgage backed securities
270,750

 
153

 
839

 
136,750

 
179

 
150

Interest rate swaps
127,588

 
—

 
3,116

 
78,988

 
—

 
2,310

Sub-total
706,408


5,713


3,971

 
424,101

 
3,574


2,468

Total
$
1,303,185


$
37,661


$
22,181

 
$
1,022,925

 
$
44,806


$
30,128
Offsetting Assets
The following table presents derivative instruments that are subject to offset by a master netting agreement:
 
As of
 
September 30, 2016
 
December 31, 2015
Derivatives subject to netting arrangements:
 
 
 
Credit default swap indices sold protection
$
31,948

 
$
41,126

Credit default swap indices bought protection
(18,210
)
 
(27,549
)
Gross assets recognized
13,738

 
13,577

Collateral payable
(1,632
)
 
(1,632
)
Net assets recognized (included in other assets)
$
12,106

 
$
11,945
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the fair value and the related outstanding notional amounts of the Company's cash flow hedging derivative instruments and indicates where the Company records each amount within its Consolidated Balance Sheets:
 
 
 
As of
 
Balance Sheet Location
 
September 30, 2016
 
December 31, 2015
Derivatives designated as cash flow hedging instruments:
 
 
 
 
 
Notional value
 
 
$
127,588

 
$
35,000

Fair value of interest rate swaps
Other liabilities and accrued expenses
 
$
3,116

 
$
1,283

Unrealized gain (loss), net of tax, on the fair value of interest rate swaps
AOCI
 
$
(272
)
 
$
111

 
 
 
 
 
 
Range of variable rates on interest rate swaps
 
 
0.52% to 0.85%
 
0.51
%
 
 
 


 
 
Range of fixed rates on interest rate swaps
 
 
1.31% to 4.99%
 
3.47
%
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the pretax impact of the cash flow hedging derivative instruments on the Consolidated Financial Statements for the following periods:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Gain (loss) recognized in AOCI on the derivative-effective portion
156

 
(167
)
 
(515
)
 
(456
)
 
 
 
 
 
 
 
 
(Gain) loss reclassified from AOCI into income-effective portion
172

 
284

 
(56
)
 
848

 
 
 
 
 
 
 
 
Gain (loss) recognized in income on the derivative-ineffective portion
48

 
—

 
(3
)
 
—
Schedule of Interest Rate Derivatives [Table Text Block]
The following table presents the estimated amount to be reclassified to earnings from AOCI during the next 12 months. These net losses reclassified into earnings are primarily expected to increase net interest expense related to the respective hedged item.
 
At
 
September 30, 2016
Estimated (gains) losses to be reclassified to earnings from AOCI during the next 12 months
$
345