Premises and Equipment, Net

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Premises and Equipment, Net

14. Premises and Equipment, Net

Premises and equipment, net consists of the following (dollars in thousands):

	December 31,						Useful Life
	2013			2012			(in years)
Computer software	$	189,964		$	151,632			7
Computer hardware		29,011			14,702			3
Furniture and fixtures		11,175			6,859			3
Office equipment and other		6,414			5,666			3
Total premises and equipment		236,564			178,859
Less: Accumulated depreciation and amortization		(80,717	)		(41,074	)
Premises and equipment, net	$	155,847		$	137,785

The Company recorded depreciation and amortization expense for premises and equipment, net of $39.7 million, $24.5 million and $11.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. For the years ended December 31, 2013, 2012 and 2011, amortization expense for computer software was $30.8 million, $19.5 million and $9.0 million, respectively. Computer software consists of the following (in thousands):

	December 31,
	2013			2012
Computer software	$	189,964		$	151,632
Less: Accumulated amortization		(64,956	)		(34,283	)
Computer software, net	$	125,008		$	117,349

Based on the balance of computer software, net at December 31, 2013, the following is an estimate of amortization expense for each of the next five years and thereafter (in thousands):

	Amortization Expense
2014	$	38,238
2015		29,972
2016		24,134
2017		19,231
2018		10,431
Thereafter		3,002
Total	$	125,008