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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains, gross unrealized losses and fair value by major categories of investment securities
The following table presents the amortized cost, gross unrealized gains and losses and fair value by major categories of available-for-sale investment securities, which are carried at fair value, and a held-to-maturity investment security, which is carried at amortized cost:
 
($ in thousands)
 
As of December 31, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
730,287

 
$
21

 
$
(9,829
)
 
$
720,479

U.S. government agency and U.S. government sponsored enterprise debt securities
 
277,891

 
224

 
(3,249
)
 
274,866

U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
272,672

 
345

 
(6,218
)
 
266,799

Residential mortgage-backed securities
 
1,266,372

 
3,924

 
(11,549
)
 
1,258,747

Municipal securities
 
148,302

 
1,252

 
(1,900
)
 
147,654

Non-agency residential mortgage-backed securities:
 
 
 
 
 
 
 
 
Investment grade (1)
 
11,592

 
—

 
(115
)
 
11,477

Corporate debt securities:
 
 
 
 
 
 
 
 
Investment grade (1)
 
222,190

 
562

 
(375
)
 
222,377

Non-investment grade (1)
 
10,191

 
—

 
(1,018
)
 
9,173

Foreign bonds
 
 
 
 
 
 
 
 
Investment grade (1) (2)
 
405,443

 
30

 
(21,579
)
 
383,894

Other securities
 
40,501

 
337

 
(509
)
 
40,329

Total available-for-sale investment securities
 
$
3,385,441

 
$
6,695

 
$
(56,341
)
 
$
3,335,795

Held-to-maturity investment security:
 
 
 
 
 
 
 
 
Non-agency commercial mortgage-backed security
 
$
143,971

 
$
622

 
$
—

 
$
144,593

Total investment securities
 
$
3,529,412

 
$
7,317

 
$
(56,341
)
 
$
3,480,388

 
 
 
 
 
 
 
 
 

 
($ in thousands)
 
As of December 31, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
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

Non-agency residential mortgage-backed securities:
 
 
 
 
 
 
 
 
Investment grade (1)
 
62,133

 
433

 
(173
)
 
62,393

Corporate debt securities:
 
 
 
 
 
 
 
 
Investment grade (1)
 
280,850

 
129

 
(1,547
)
 
279,432

Non-investment grade (1)
 
11,491

 
—

 
(1,849
)
 
9,642

Foreign Bonds
 
 
 
 
 
 
 
 
Investment grade (1) (2)
 
90,586

 
3

 
(794
)
 
89,795

Other securities
 
40,149

 
124

 
(380
)
 
39,893

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

 
$
11,744

 
$
(22,347
)
 
$
3,773,226

 

(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. Classifications are based on the lower of the credit ratings by S&P or Moody’s.
(2)
Fair values of foreign bonds include $353.6 million and $49.7 million of multilateral development bank bonds as of December 31, 2016 and 2015, respectively.
Schedule of gross unrealized losses and related fair values of investment securities
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)
 
As of December 31, 2016
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
670,268

 
$
(9,829
)
 
$
—

 
$
—

 
$
670,268

 
$
(9,829
)
U.S. government agency and U.S. government sponsored enterprise debt securities
 
203,901

 
(3,249
)
 
—

 
—

 
203,901

 
(3,249
)
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
202,106

 
(5,452
)
 
29,201

 
(766
)
 
231,307

 
(6,218
)
Residential mortgage-backed securities
 
629,324

 
(9,594
)
 
119,603

 
(1,955
)
 
748,927

 
(11,549
)
Municipal securities
 
57,655

 
(1,699
)
 
2,692

 
(201
)
 
60,347

 
(1,900
)
Non-agency residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade
 
5,033

 
(101
)
 
6,444

 
(14
)
 
11,477

 
(115
)
Corporate debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade
 
—

 
—

 
71,667

 
(375
)
 
71,667

 
(375
)
Non-investment grade
 
—

 
—

 
9,173

 
(1,018
)
 
9,173

 
(1,018
)
Foreign bonds
 
 
 
 
 
 
 
 
 


 


Investment grade
 
363,618

 
(21,327
)
 
14,258

 
(252
)
 
377,876

 
(21,579
)
Other securities
 
30,991

 
(509
)
 
—

 
—

 
30,991

 
(509
)
Total available-for-sale investment securities
 
$
2,162,896

 
$
(51,760
)
 
$
253,038

 
$
(4,581
)
 
$
2,415,934

 
$
(56,341
)
Held-to-maturity investment security:
 
 
 
 
 
 
 
 
 
 
 
 
Non-agency commercial mortgage-backed security
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Total investment securities
 
$
2,162,896

 
$
(51,760
)
 
$
253,038

 
$
(4,581
)
 
$
2,415,934

 
$
(56,341
)
 
 
($ in thousands)
 
As of December 31, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
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
)
Non-agency residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade
 
5,123

 
(1
)
 
6,242

 
(172
)
 
11,365

 
(173
)
Corporate debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade
 
149,358

 
(683
)
 
80,276

 
(864
)
 
229,634

 
(1,547
)
Non-investment grade
 
—

 
—

 
9,642

 
(1,849
)
 
9,642

 
(1,849
)
Foreign bonds
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade
 
74,101

 
(506
)
 
9,713

 
(288
)
 
83,814

 
(794
)
Other securities
 
13,475

 
(112
)
 
8,731

 
(268
)
 
22,206

 
(380
)
Total available-for-sale investment securities
 
$
2,527,519

 
$
(16,075
)
 
$
228,733

 
$
(6,272
)
 
$
2,756,252

 
$
(22,347
)
 
Rollforward 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)
 
2016
 
2015
 
2014
Beginning balance
 
$
—

 
$
112,338

 
$
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

 
Schedule of the proceeds, gross realized gains and losses related to the sales of available-for-sale investment securities
The following table presents the proceeds, gross realized gains and losses, and related tax expense related to the sales of available-for-sale investment securities for the years ended December 31:
 
 
 
 
Year Ended December 31,
 
($ in thousands)
 
2016
 
2015
 
2014
 
Proceeds from sales
 
$
1,275,645

 
$
1,669,334

 
$
623,689

 
Gross realized gains
 
$
10,487

 
$
40,367

 
$
10,978

 
Gross realized losses
 
$
125

 
$
—

 
$
127

(1) 
Related tax expense
 
$
4,357

 
$
16,974

 
$
4,500

 
 
 
(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.
Schedule of maturities of investment securities
The following table presents the scheduled maturities of available-for-sale investment securities as of December 31, 2016:
 
($ in thousands)
 
Amortized
Cost
 
Estimated
Fair Value
Due within one year
 
$
583,676

 
$
565,323

Due after one year through five years
 
704,674

 
694,776

Due after five years through ten years
 
464,472

 
455,804

Due after ten years
 
1,632,619

 
1,619,892

Total available-for-sale investment securities
 
$
3,385,441

 
$
3,335,795

 

The following table presents the scheduled maturity of the held-to-maturity investment security as of December 31, 2016:
 
($ in thousands)
 
Amortized
Cost
 
Estimated
Fair Value
Due after ten years
 
$
143,971

 
$
144,593