STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2013

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE

	Year Ended December 31, 2013
	Net Income		Number of Shares	Per Share Amounts
	(In thousands, except per share data)
Net income	$	295,045
Less:
Preferred stock dividends	(3,428)
Earnings allocated to participating securities	(1,692)
Basic EPS – income allocated to common stockholders (1)	$	289,925	137,342	$	2.11
Effect of dilutive securities:
Stock options	—		71
Restricted stock units	196		327
Convertible preferred stock	3,428		1,834
Diluted EPS – income allocated to common stockholders (1)	$	293,549	139,574	$	2.10

	Year Ended December 31, 2012
	Net Income		Number of Shares	Per Share Amounts
	(In thousands, except per share data)
Net income	$	281,650
Less:
Preferred stock dividends	(6,857)
Earnings allocated to participating securities	(3,279)
Basic EPS – income allocated to common stockholders (1)	$	271,514	141,457	$	1.92
Effect of dilutive securities:
Stock options	—		29
Restricted stock units	47		118
Convertible preferred stock	6,857		5,571
Diluted EPS – income allocated to common stockholders (1)	$	278,418	147,175	$	1.89

	Year Ended December 31, 2011
	Net Income		Number of Shares	Per Share Amounts
	(In thousands, except per share data)
Net income	$	245,234
Less:
Preferred stock dividends	(6,857)
Basic EPS – income available to common stockholders	$	238,377	147,093	$	1.62
Effect of dilutive securities:
Stock options	—		62
Restricted stock awards	115		718
Convertible preferred stock	6,857		5,571
Stock warrants	—		23
Diluted EPS – income available to common stockholders	$	245,349	153,467	$	1.60

Shares excluded from the calculation of diluted EPS

	For the Year Ended
	2013		2012		2011
	(In thousands)
Stock options	177		340		857
Restricted stock awards	10	(1)	5	(1)	317

(1) April 1, 2012, the Company revised its calculation of earnings per share to account for participating securities under the two-class method. This revision to the earnings per share calculation does not have an impact to previous periods as the amounts are immaterial.

Accumulated other comprehensive (loss) income, net of tax

	Unrealized gain (loss) on
	investment securities		Foreign currency		Unrealized gain (loss) on
	available-for-sale		translation adjustments		other asset investment		Total
	(In thousands)
Balance, December 31, 2010	$	(13,927)	$	1,664	$	(151)	$	(12,414)
Period Change	(20,921)		(764)		159		(21,526)
Balance, December 31, 2011	$	(34,848)	$	900	$	8	$	(33,940)
Period Change	39,491		(900)		18		38,609
Balance, December 31, 2012	$	4,643	$	—	$	26	$	4,669
Other comprehensive income before reclassifications	(28,169)		—		336		(27,833)
Amounts reclassified from AOCI	(7,012)		—		(283)		(7,295)
Net current period other comprehensive loss	(35,181)		—		53		(35,128)
Balance, December 31, 2013	$	(30,538)	$	—	$	79	$	(30,459)

Schedule of reclassifications out of accumulated other comprehensive income

	Amount Reclassified from
Details about Accumulated Other	Accumulated Other		Affected Line Item in the Statement
Comprehensive Income Components	Comprehensive Income		Where Net Income is Presented
	(In thousands)
Year Ended December 31, 2013
Investment securities available for sale
Realized net gains on sale of securities	$	12,089	Net gain on sales of investment securities
	12,089
	(5,077)		Tax expense
	$	7,012	Net of tax
Other investments
Realized net gains on sale of other investments	$	488	Other operating income
	488
	(205)		Tax expense
	$	283	Net of tax
Total reclassifications	$	7,295
Year Ended December 31, 2012
Investment securities available for sale
Realized net gains on sale of securities	$	757	Net gain on sales of investment securities
	757
	(318)		Tax expense
	$	439	Net of tax
Other investments
Realized net gains on sale of other investments	$	23	Other operating income
	23
	(10)		Tax expense
	$	13	Net of tax
Total reclassifications	$	452
Year Ended December 31, 2011
Investment securities available for sale
Realized net gains on sale of securities	$	9,703	Net gain on sales of investment securities
	9,703
	(4,075)		Tax expense
	$	5,628	Net of tax
Other investments
Realized net gains on sale of other investments	$	61	Other operating income
	61
	(26)		Tax expense
	$	35	Net of tax
Total reclassifications	$	5,663

Schedule of tax effect allocated to component of other comprehensive (loss) income

			Tax
	Before-Tax		Expense		Net-of-Tax
	Amount		or Benefit		Amount
			(In thousands)
For the year ended December 31, 2013
Unrealized gain on investment securities available-for-sale:
Unrealized holding losses arising during period	$	(48,567)	$	20,398	$	(28,169)
Less: reclassification adjustment for gains included in income	(12,089)		5,077		(7,012)
Net unrealized loss	(60,656)		25,475		(35,181)
Noncredit-related impairment loss on securities	—		—		—
Unrealized gain on other asset investment	579		(243)		336
Less: reclassification adjustment for gains included in income	(488)		205		(283)
Other comprehensive loss	$	(60,565)	$	25,437	$	(35,128)

			Tax
	Before-Tax		Expense		Net-of-Tax
	Amount		or Benefit		Amount
			(In thousands)
For the year ended December 31, 2012
Unrealized gain on investment securities available-for-sale:
Unrealized holding gains arising during period	$	73,910	$	(31,042)	$	42,868
Less: reclassification adjustment for gains included in income	(757)		318		(439)
Net unrealized gains	73,153		(30,724)		42,429
Noncredit-related impairment loss on securities	(5,066)		2,128		(2,938)
Foreign currency translation adjustments	(1,552)		652		(900)
Unrealized gain on other asset investment	53		(22)		31
Less: reclassification adjustment for gains included in income	(23)		10		(13)
Other comprehensive income	$	66,565	$	(27,956)	$	38,609

			Tax
	Before-Tax		Expense		Net-of-Tax
	Amount		or Benefit		Amount
			(In thousands)
For the year ended December 31, 2011
Unrealized loss on investment securities available-for-sale:
Unrealized holding loss arising during period	$	(21,264)	$	8,931	$	(12,333)
Less: reclassification adjustment for gains included in income	(9,703)		4,075		(5,628)
Net unrealized loss	(30,967)		13,006		(17,961)
Noncredit-related impairment loss on securities	(5,103)		2,143		(2,960)
Foreign currency translation adjustments	(1,317)		553		(764)
Unrealized gain on other asset investment	334		(140)		194
Less: reclassification adjustment for gains included in income	(61)		26		(35)
Other comprehensive loss	$	(37,114)	$	15,588	$	(21,526)