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AVAILABLE-FOR-SALE INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains, gross unrealized losses and fair value by major categories of available-for-sale securities
The following table presents the amortized cost, gross unrealized gains, gross unrealized losses and fair value by major categories of available-for-sale investment securities:
 
($ in thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
As of December 31, 2015
 
 

 
 

 
 

 
 

Available-for-sale investment securities:
 
 

 
 

 
 

 
 

U.S. Treasury securities
 
$
1,002,874

 
$
33

 
$
(4,392
)
 
$
998,515

U.S. government agency and U.S. government sponsored enterprise debt securities
 
771,288

 
555

 
(2,994
)
 
768,849

U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 

 
 

 
 

 
 

Commercial mortgage-backed securities
 
354,418

 
268

 
(3,024
)
 
351,662

Residential mortgage-backed securities
 
996,255

 
7,542

 
(6,401
)
 
997,396

Municipal securities
 
173,785

 
2,657

 
(793
)
 
175,649

Other residential mortgage-backed securities:
 
 
 
 
 
 
 
 

Investment grade (1)
 
62,133

 
433

 
(173
)
 
62,393

Corporate debt securities:
 
 
 
 
 
 
 
 

Investment grade (1)
 
366,921

 
132

 
(2,340
)
 
364,713

Non-investment grade (1)
 
11,491

 
—

 
(1,849
)
 
9,642

Other securities
 
44,664

 
124

 
(381
)
 
44,407

Total available-for-sale investment securities
 
$
3,783,829

 
$
11,744

 
$
(22,347
)
 
$
3,773,226

 
 
 
 
 
 
 
 
 
As of December 31, 2014
 
 

 
 

 
 

 
 

Available-for-sale investment securities:
 
 

 
 

 
 

 
 

U.S. Treasury securities
 
$
873,101

 
$
1,971

 
$
(1,637
)
 
$
873,435

U.S. government agency and U.S. government sponsored enterprise debt securities
 
311,927

 
490

 
(1,393
)
 
311,024

U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 

 
 

 
 

 
 

Commercial mortgage-backed securities
 
140,957

 
1,056

 
(593
)
 
141,420

Residential mortgage-backed securities
 
785,412

 
9,754

 
(4,078
)
 
791,088

Municipal securities
 
245,408

 
6,202

 
(1,162
)
 
250,448

Other residential mortgage-backed securities:
 
 
 
 
 
 
 
 

Investment grade (1)
 
52,694

 
1,359

 
(135
)
 
53,918

Other commercial mortgage-backed securities:
 
 
 
 
 
 
 
 

Investment grade (1)
 
34,000

 
53

 
—

 
34,053

Corporate debt securities:
 
 
 
 
 
 
 
 

Investment grade (1)
 
116,236

 
—

 
(1,054
)
 
115,182

Non-investment grade (1)
 
17,881

 
—

 
(3,200
)
 
14,681

Other securities
 
41,691

 
393

 
(716
)
 
41,368

Total available-for-sale investment securities
 
$
2,619,307

 
$
21,278

 
$
(13,968
)
 
$
2,626,617

 
 
 
 
 
 
 
 
 
(1)
Available-for-sale investment securities rated BBB- or higher by S&P or Baa3 or higher by Moody are considered investment grade.  Conversely, available-for-sale investment securities rated lower than BBB- by S&P or lower than Baa3 by Moody’s are considered non-investment grade.
Gross unrealized losses and related fair values of investment securities available-for-sale
The following table presents the Company’s investment portfolio’s gross unrealized losses and related fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
 
($ in thousands)
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Gross Unrealized
Losses
 
Fair
Value
 
Gross Unrealized
Losses
 
Fair
Value
 
Gross Unrealized
Losses
As of December 31, 2015
 
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale investment securities:
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Treasury securities
 
$
907,400

 
$
(4,250
)
 
$
20,282

 
$
(142
)
 
$
927,682

 
$
(4,392
)
U.S. government agency and U.S. government sponsored enterprise debt securities
 
541,385

 
(2,994
)
 
—

 
—

 
541,385

 
(2,994
)
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 

 
 

 
 

 
 

 
 

 
 

Commercial mortgage-backed securities
 
252,340

 
(2,562
)
 
20,793

 
(462
)
 
273,133

 
(3,024
)
Residential mortgage-backed securities
 
535,842

 
(4,530
)
 
58,315

 
(1,871
)
 
594,157

 
(6,401
)
Municipal securities
 
48,495

 
(437
)
 
14,739

 
(356
)
 
63,234

 
(793
)
Other residential mortgage-backed securities:
 
 

 
 

 
 

 
 

 
 

 
 

Investment grade
 
5,123

 
(1
)
 
6,242

 
(172
)
 
11,365

 
(173
)
Corporate debt securities:
 
 

 
 

 
 

 
 

 
 

 
 

Investment grade
 
218,944

 
(1,189
)
 
89,989

 
(1,151
)
 
308,933

 
(2,340
)
Non-investment grade
 
—

 
—

 
9,642

 
(1,849
)
 
9,642

 
(1,849
)
Other securities
 
17,990

 
(112
)
 
8,731

 
(269
)
 
26,721

 
(381
)
Total available-for-sale investment securities
 
$
2,527,519

 
$
(16,075
)
 
$
228,733

 
$
(6,272
)
 
$
2,756,252

 
$
(22,347
)
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2014
 
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale investment securities:
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Treasury securities
 
$
170,260

 
$
(266
)
 
$
163,800

 
$
(1,371
)
 
$
334,060

 
$
(1,637
)
U.S. government agency and U.S. government sponsored enterprise debt securities
 
69,438

 
(504
)
 
124,104

 
(889
)
 
193,542

 
(1,393
)
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 

 
 

Commercial mortgage-backed securities
 
45,405

 
(257
)
 
16,169

 
(336
)
 
61,574

 
(593
)
Residential mortgage-backed securities
 
81,927

 
(270
)
 
241,047

 
(3,808
)
 
322,974

 
(4,078
)
Municipal securities
 
6,391

 
(26
)
 
61,107

 
(1,136
)
 
67,498

 
(1,162
)
Other residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 

 
 

Investment grade
 
—

 
—

 
7,217

 
(135
)
 
7,217

 
(135
)
Corporate debt securities:
 
 
 
 
 
 
 
 
 
 

 
 

Investment grade
 
25,084

 
(12
)
 
90,098

 
(1,042
)
 
115,182

 
(1,054
)
Non-investment grade
 
—

 
—

 
14,681

 
(3,200
)
 
14,681

 
(3,200
)
Other securities
 
15,885

 
(716
)
 
—

 
—

 
15,885

 
(716
)
Total available-for-sale investment securities
 
$
414,390

 
$
(2,051
)
 
$
718,223

 
$
(11,917
)
 
$
1,132,613

 
$
(13,968
)
 
Schedule of other than temporary impairment, credit losses recognized in earnings
The following table presents a rollforward of the amounts related to the OTTI credit losses recognized in earnings for the years ended December 31:
 
($ in thousands)
 
2015
 
2014
 
2013
Beginning balance
 
$
112,338

 
$
115,511

 
$
115,511

Addition of OTTI previously not recognized
 
—

 
—

 
—

Additional increase to the amount related to the credit
 loss for which an OTTI was previously recognized
 
—

 
—

 
—

Reduction for securities sold
 
(112,338
)
 
(3,173
)
 
—

Ending balance
 
$
—

 
$
112,338

 
$
115,511

 
Schedule of sales of investment securities
The following table presents the proceeds, gross realized gains and gross realized losses related to the sales of available-for-sale investment securities for the years ended December 31:
 
($ in thousands)
 
2015
 
2014
 
2013
Proceeds from sales
 
$
1,669,334

 
$
623,689

 
$
663,569

Gross realized gains
 
$
40,367

 
$
10,978

 
$
13,904

Gross realized losses
 
$
—

 
$
127

(1) 
$
1,815

Related tax expense
 
$
16,954

 
$
4,557

 
$
5,077

 
(1)
The gross realized losses of $127 thousand resulted from available-for-sale investment securities acquired from MetroCorp which were sold immediately after the acquisition closed.
Scheduled maturities of investment securities
The following table presents the scheduled maturities of available-for-sale investment securities as of December 31, 2015:
 
($ in thousands)
 
Amortized
Cost
 
Estimated
Fair Value
Due within one year
 
$
756,656

 
$
752,736

Due after one year through five years
 
1,155,873

 
1,152,752

Due after five years through ten years
 
554,458

 
550,980

Due after ten years
 
1,316,842

 
1,316,758

Total available-for-sale investment securities
 
$
3,783,829

 
$
3,773,226