Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]

Summary Of Preferred Stock

Preferred stock is summarized as follows:
(Amounts in thousands except share amounts)	Carrying value at December 31,				Shares at December 31, 2016			Dividends payable	Earliest redemption date	Rate following earliest redemption date	Dividends payable after rate change
	2016		2015		Authorized	Outstanding	Rate
										(when applicable)
Series A	$	66,316	$	66,316	140,000	66,139	> of 4.0% or 3mL+0.52%	Qtrly Mar,Jun,Sep,Dec	Dec 15, 2011
Series F	143,750		143,750		250,000	143,750	7.9%	Qtrly Mar,Jun,Sep,Dec	Jun 15, 2017
Series G	138,391		171,827		200,000	138,391	6.3%	Qtrly Mar,Jun,Sep,Dec	Mar 15, 2023	annual float-ing rate = 3mL+4.24%
Series H	126,221		126,221		126,221	126,221	5.75%	Qtrly Mar,Jun,Sep,Dec	Jun 15, 2019
Series I	98,555		125,224		300,893	98,555	5.8%	Semi-annually Jun,Dec	Jun 15, 2023	annual float-ing rate = 3mL+3.8%	Qtrly Mar,Jun,Sep,Dec
Series J	136,368		195,152		195,152	136,368	7.2%	Semi-annually Mar,Sep	Sep 15, 2023	annual float-ing rate = 3mL+4.44%	Qtrly Mar,Jun,Sep,Dec
Total	$	709,601	$	828,490

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

										Statement of Income (SI) Balance Sheet (BS)
(In thousands)	Amounts reclassified from AOCI 1
Details about AOCI components	2016			2015			2014				Affected line item
Net realized gains (losses) on investment securities	$	102		$	(138,735	)	$	10,419		SI	Fixed income securities gains (losses), net
Income tax expense (benefit)	39			(52,712		)	3,971
	63			(86,023		)	6,448
Net unrealized losses on investment securities	—			—			(27		)	SI	Net impairment losses on investment securities
Income tax benefit	—			—			(10		)
	—			—			(17		)
Accretion of securities with noncredit-related impairment losses not expected to be sold	—			—			(1,878		)	BS	Investment securities, held-to-maturity
Deferred income taxes	—			—			767			BS	Other assets
	$	63		$	(86,023	)	$	5,320
Net unrealized gains on derivative instruments	$	11,290		$	9,004		$	2,594		SI	Interest and fees on loans
Income tax expense	4,290			3,421			989
	$	7,000		$	5,583		$	1,605
Amortization of net actuarial loss	$	(8,436	)	$	(5,996	)	$	(2,843	)	SI	Salaries and employee benefits
Amortization of prior service cost	—			—			(50		)	SI	Salaries and employee benefits
Income tax benefit	(3,206		)	(2,278		)	(1,103		)
	$	(5,230	)	$	(3,718	)	$	(1,790	)

¹  Negative reclassification amounts indicate decreases to earnings in the statement of income and increases to balance sheet assets. The opposite applies to positive reclassification amounts.

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

Changes in AOCI by component are as follows:
(In thousands)	Net unrealized gains (losses) on investment securities				Net unrealized gains (losses) on derivatives and other				Pension and post-retirement			Total
2016
Balance at December 31, 2015		$	(18,369	)		$	1,546		$	(37,789	)	$	(54,612	)
Other comprehensive income (loss) before reclassifications, net of tax		(73,985		)		7,093			1,756			(65,136		)
Amounts reclassified from AOCI, net of tax		(63		)		(7,000		)	5,230			(1,833		)
Other comprehensive income (loss)		(74,048		)		93			6,986			(66,969		)
Balance at December 31, 2016		$	(92,417	)		$	1,639		$	(30,803	)	$	(121,581	)
Income tax expense (benefit) included in other comprehensive income (loss)		$	(44,898	)		$	(76	)	$	5,356		$	(39,618	)
2015
Balance at December 31, 2014		$	(91,921	)		$	2,226		$	(38,346	)	$	(128,041	)
Other comprehensive income (loss) before reclassifications, net of tax		(12,471		)		4,903			(3,161		)	(10,729		)
Amounts reclassified from AOCI, net of tax		86,023				(5,583		)	3,718			84,158
Other comprehensive income (loss)		73,552				(680		)	557			73,429
Balance at December 31, 2015		$	(18,369	)		$	1,546		$	(37,789	)	$	(54,612	)
Income tax expense (benefit) included in other comprehensive income (loss)		$	48,422			$	(331	)	$	374		$	48,465

Shareholders' Equity

13. SHAREHOLDERS’ EQUITY

Preferred Stock

Preferred stock is without par value and has a liquidation preference of $1,000 per share, or $25 per depositary share. Except for Series I and J, all preferred shares were issued in the form of depositary shares, with each depositary share representing a 1/40^th ownership interest in a share of the preferred stock. All preferred shares are registered with the SEC.

In general, preferred shareholders may receive asset distributions before common shareholders; however, preferred shareholders have only limited voting rights generally with respect to certain provisions of the preferred stock, the issuance of senior preferred stock, and the election of directors. Preferred stock dividends reduce earnings applicable to common shareholders and are paid on the 15th day of the months indicated in the following schedule. Dividends are approved by the Board of Directors and are subject to regulatory non-objection to a stress test and capital plan submitted to the Federal Reserve pursuant to the annual Comprehensive Capital Analysis and Review (“CCAR”) process. Redemption of the preferred stock is at the Company’s option after the expiration of any applicable redemption restrictions. The redemption amount is computed at the per share liquidation preference plus any declared but unpaid dividends. Redemptions are subject to certain regulatory provisions, including the previously noted capital plan non-objection for a submitted capital plan in a given year.

Preferred stock is summarized as follows:
(Amounts in thousands except share amounts)	Carrying value at December 31,				Shares at December 31, 2016			Dividends payable	Earliest redemption date	Rate following earliest redemption date	Dividends payable after rate change
	2016		2015		Authorized	Outstanding	Rate
										(when applicable)
Series A	$	66,316	$	66,316	140,000	66,139	> of 4.0% or 3mL+0.52%	Qtrly Mar,Jun,Sep,Dec	Dec 15, 2011
Series F	143,750		143,750		250,000	143,750	7.9%	Qtrly Mar,Jun,Sep,Dec	Jun 15, 2017
Series G	138,391		171,827		200,000	138,391	6.3%	Qtrly Mar,Jun,Sep,Dec	Mar 15, 2023	annual float-ing rate = 3mL+4.24%
Series H	126,221		126,221		126,221	126,221	5.75%	Qtrly Mar,Jun,Sep,Dec	Jun 15, 2019
Series I	98,555		125,224		300,893	98,555	5.8%	Semi-annually Jun,Dec	Jun 15, 2023	annual float-ing rate = 3mL+3.8%	Qtrly Mar,Jun,Sep,Dec
Series J	136,368		195,152		195,152	136,368	7.2%	Semi-annually Mar,Sep	Sep 15, 2023	annual float-ing rate = 3mL+4.44%	Qtrly Mar,Jun,Sep,Dec
Total	$	709,601	$	828,490

Preferred Stock Redemptions

During 2016, we launched a cash tender offer to purchase up to $120 million par amount of certain outstanding preferred stock. Our preferred stock decreased by $119 million as a result of the tender offer, including the purchase of $27 million of our Series I preferred stock, $59 million of our Series J preferred stock, and $33 million of our Series G preferred stock for an aggregate cash payment of $126 million. The total one-time reduction to net earnings applicable to common shareholders associated with the preferred stock redemption was $9.8 million.

We also launched a $180 million cash tender offer during 2015, which resulted in a Series I preferred stock redemption of approximately $176 million. The size and terms of the offers in 2016 and 2015 were determined in accordance with the Company’s 2015 capital plan. Our 2016 capital plan (which spans the timeframe of July 2016 to June 2017) allows for the redemption of up to $144 million of preferred equity.

Common Stock

The Company commenced its common stock buyback program during 2016 and repurchased 2.89 million shares of common shares outstanding with a fair value of $90 million at an average price of $31.15 per share. During the first quarter of 2017, the Company repurchased an additional $45 million of common stock at an average price of $42.43 per share, leaving $45 million of buyback capacity remaining in the 2016 capital plan.

Common Stock Warrants

As of December 31, 2016, we have 5.8 million common stock warrants at an exercise price of $36.27 per share which expire on November 14, 2018. These warrants were associated with the preferred stock issued under the Troubled Asset Relief Program which was redeemed in 2012. In addition, we have 29.3 million common stock warrants at an exercise price of $35.82, as of December 31, 2016, which expire on May 22, 2020.

Accumulated Other Comprehensive Income

Changes in AOCI by component are as follows:
(In thousands)	Net unrealized gains (losses) on investment securities				Net unrealized gains (losses) on derivatives and other				Pension and post-retirement			Total
2016
Balance at December 31, 2015		$	(18,369	)		$	1,546		$	(37,789	)	$	(54,612	)
Other comprehensive income (loss) before reclassifications, net of tax		(73,985		)		7,093			1,756			(65,136		)
Amounts reclassified from AOCI, net of tax		(63		)		(7,000		)	5,230			(1,833		)
Other comprehensive income (loss)		(74,048		)		93			6,986			(66,969		)
Balance at December 31, 2016		$	(92,417	)		$	1,639		$	(30,803	)	$	(121,581	)
Income tax expense (benefit) included in other comprehensive income (loss)		$	(44,898	)		$	(76	)	$	5,356		$	(39,618	)
2015
Balance at December 31, 2014		$	(91,921	)		$	2,226		$	(38,346	)	$	(128,041	)
Other comprehensive income (loss) before reclassifications, net of tax		(12,471		)		4,903			(3,161		)	(10,729		)
Amounts reclassified from AOCI, net of tax		86,023				(5,583		)	3,718			84,158
Other comprehensive income (loss)		73,552				(680		)	557			73,429
Balance at December 31, 2015		$	(18,369	)		$	1,546		$	(37,789	)	$	(54,612	)
Income tax expense (benefit) included in other comprehensive income (loss)		$	48,422			$	(331	)	$	374		$	48,465

										Statement of Income (SI) Balance Sheet (BS)
(In thousands)	Amounts reclassified from AOCI 1
Details about AOCI components	2016			2015			2014				Affected line item
Net realized gains (losses) on investment securities	$	102		$	(138,735	)	$	10,419		SI	Fixed income securities gains (losses), net
Income tax expense (benefit)	39			(52,712		)	3,971
	63			(86,023		)	6,448
Net unrealized losses on investment securities	—			—			(27		)	SI	Net impairment losses on investment securities
Income tax benefit	—			—			(10		)
	—			—			(17		)
Accretion of securities with noncredit-related impairment losses not expected to be sold	—			—			(1,878		)	BS	Investment securities, held-to-maturity
Deferred income taxes	—			—			767			BS	Other assets
	$	63		$	(86,023	)	$	5,320
Net unrealized gains on derivative instruments	$	11,290		$	9,004		$	2,594		SI	Interest and fees on loans
Income tax expense	4,290			3,421			989
	$	7,000		$	5,583		$	1,605
Amortization of net actuarial loss	$	(8,436	)	$	(5,996	)	$	(2,843	)	SI	Salaries and employee benefits
Amortization of prior service cost	—			—			(50		)	SI	Salaries and employee benefits
Income tax benefit	(3,206		)	(2,278		)	(1,103		)
	$	(5,230	)	$	(3,718	)	$	(1,790	)

¹  Negative reclassification amounts indicate decreases to earnings in the statement of income and increases to balance sheet assets. The opposite applies to positive reclassification amounts.

Deferred Compensation

Deferred compensation consists of invested assets, including the Company’s common stock, which are held in rabbi trusts for certain employees and directors. At December 31, 2016 and 2015, the cost of the common stock included in retained earnings was approximately $14.1 million and $15.2 million, respectively. We consolidate the fair value of invested assets of the trusts along with the total obligations and include them in other assets and other liabilities, respectively, in the balance sheet. At December 31, 2016 and 2015, total invested assets were approximately $91.0 million and $81.8 million and total obligations were approximately $105.2 million and $96.9 million, respectively.