STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2014

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE

Earnings per share calculations

	Three Months Ended March 31, 2014
	Net Income			Number of Shares	Per Share Amounts
	(In thousands, except per share data)
Net income	$	76,741
Less:
Preferred stock dividends	—
Earnings allocated to participating securities	(166		)
Basic EPS — income allocated to common stockholders	$	76,575		141,962	$	0.54
Effect of dilutive securities:
Stock options	—			79
Restricted stock units	80			447
Warrants	—			144
Diluted EPS — income allocated to common stockholders	$	76,655		142,632	$	0.54

	Three Months Ended March 31, 2013
	Net Income			Number of Shares	Per Share Amounts
	(In thousands, except per share data)
Net income	$	72,091
Less:
Preferred stock dividends	(1,714		)
Earnings allocated to participating securities	(584		)
Basic EPS — income allocated  to common stockholders	$	69,793		137,648	$	0.51
Effect of dilutive securities:
Stock options	—			51
Restricted stock units	36			242
Convertible preferred stock	1,714			5,578
Diluted EPS — income allocated  to common stockholders	$	71,543		143,519	$	0.50

Shares excluded from the calculation of diluted EPS

	Three Months Ended
	March 31,
	2014	2013
	(In thousands)
Stock options	81	270
Restricted stock units	168	133

Accumulated other comprehensive (loss) income, net of tax

	Unrealized gain (loss) on
	investment securities			Unrealized gain on
	available-for-sale			other investments			Total
	(In thousands)
Balance, December 31, 2012	$	4,643		$	26		$	4,669
Other comprehensive income before reclassifications	4,741			10			4,751
Amounts reclassified from AOCI	(3,235		)	—			(3,235		)
Net current period other comprehensive income	1,506			10			1,516
Balance, March 31, 2013	$	6,149		$	36		$	6,185
Balance, December 31, 2013	$	(30,538	)	$	79		$	(30,459	)
Other comprehensive income before reclassifications	15,422			(17		)	15,405
Amounts reclassified from AOCI	(1,983		)	—			(1,983		)
Net current period other comprehensive income	13,439			(17		)	13,422
Balance, March 31, 2014	$	(17,099	)	$	62		$	(17,037	)

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)
Three Month Ended March 31, 2014
Investment securities available for sale
Realized net gains on sale of securities	$	3,418		Net gain on sales of investment securities
	3,418
	(1,435		)	Tax expense
Total reclassifications	$	1,983		Net of tax
Three Months Ended March 31, 2013
Investment securities available for sale
Realized net gains on sale of securities	$	5,577		Net gain on sales of investment securities
	5,577
	(2,342		)	Tax expense
Total reclassifications	$	3,235		Net of tax

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)
Three Months Ended March 31, 2014
Unrealized gain on investment securities available-for-sale:
Unrealized holding gains arising during period	$	26,590		$	(11,168	)	$	15,422
Less: reclassification adjustment for gains included in income	(3,418		)	1,435			(1,983		)
Net unrealized gain	23,172			(9,733		)	13,439
Unrealized loss on other investments	(29		)	12			(17		)
Less: reclassification adjustment for gains included in income	—			—			—
Other comprehensive income	$	23,143		$	(9,721	)	$	13,422

				Tax
	Before-Tax			Expense			Net-of-Tax
	Amount			or Benefit			Amount
	(In thousands)
Three Months Ended March 31, 2013
Unrealized gain on investment securities available-for-sale:
Unrealized holding gains arising during period	$	8,174		$	(3,433	)	$	4,741
Less: reclassification adjustment for gains included in income	(5,577		)	2,342			(3,235		)
Net unrealized gain	2,597			(1,091		)	1,506
Unrealized gain on other investments	17			(7		)	10
Less: reclassification adjustment for gains included in income	—			—			—
Other comprehensive income	$	2,614		$	(1,098	)	$	1,516