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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present assets and liabilities measured at fair value on a recurring basis at the dates indicated (in thousands):
 
June 30, 2020
 
Level 1
 
Level 2
 
Total
Investment securities available for sale:
 

 
 

 
 

U.S. Treasury securities
$
77,180

 
$
—

 
$
77,180

U.S. Government agency and sponsored enterprise residential MBS
—

 
2,379,840

 
2,379,840

U.S. Government agency and sponsored enterprise commercial MBS
—

 
464,277

 
464,277

Private label residential MBS and CMOs
—

 
1,116,086

 
1,116,086

Private label commercial MBS
—

 
2,043,620

 
2,043,620

Single family rental real estate-backed securities
—

 
618,207

 
618,207

Collateralized loan obligations
—

 
1,128,753

 
1,128,753

Non-mortgage asset-backed securities
—

 
261,531

 
261,531

State and municipal obligations
—

 
259,495

 
259,495

SBA securities
—

 
245,942

 
245,942

Marketable equity securities
88,697

 
—

 
88,697

Servicing rights
—

 
7,291

 
7,291

Derivative assets
—

 
145,802

 
145,802

Total assets at fair value
$
165,877

 
$
8,670,844

 
$
8,836,721

Derivative liabilities
$
—

 
$
(52,013
)
 
$
(52,013
)
Total liabilities at fair value
$
—

 
$
(52,013
)
 
$
(52,013
)
 
December 31, 2019
 
Level 1
 
Level 2
 
Total
Investment securities available for sale:
 

 
 

 
 

U.S. Treasury securities
$
70,325

 
$
—

 
$
70,325

U.S. Government agency and sponsored enterprise residential MBS
—

 
2,022,175

 
2,022,175

U.S. Government agency and sponsored enterprise commercial MBS
—

 
370,976

 
370,976

Private label residential MBS and CMOs
—

 
1,012,177

 
1,012,177

Private label commercial MBS
—

 
1,724,684

 
1,724,684

Single family rental real estate-backed securities
—

 
470,025

 
470,025

Collateralized loan obligations
—

 
1,197,366

 
1,197,366

Non-mortgage asset-backed securities
—

 
194,904

 
194,904

State and municipal obligations
—

 
273,302

 
273,302

SBA securities
—

 
362,731

 
362,731

Marketable equity securities
60,572

 
—

 
60,572

Servicing rights
—

 
7,977

 
7,977

Derivative assets
—

 
43,686

 
43,686

Total assets at fair value
$
130,897

 
$
7,680,003

 
$
7,810,900

Derivative liabilities
$
—

 
$
(19,029
)
 
$
(19,029
)
Total liabilities at fair value
$
—

 
$
(19,029
)
 
$
(19,029
)
Schedule of Assets for Which Nonrecurring Changes in Fair Value have been Recorded sent the carrying value of assets for which non-recurring changes in fair value have been recorded for the periods indicated (in thousands):
 
June 30, 2020
 
Losses from Fair Value Changes
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Three Months Ended  
 June 30, 2020
 
Six Months Ended June 30, 2020
OREO and repossessed assets
$
—

 
$
—

 
$
4,401

 
$
4,401

 
$
(243
)
 
$
(360
)
Impaired loans
$
—

 
$
—

 
$
101,353

 
$
101,353

 
$
(23,545
)
 
$
(42,221
)
Operating lease equipment
$
—

 
$
—

 
$
839

 
$
839

 
$
—

 
$
(691
)
 
June 30, 2019
 
Losses from Fair Value Changes
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Three Months Ended  
 June 30, 2019
 
Six Months Ended  
 June 30, 2019
OREO and repossessed assets
$
—

 
$
—

 
$
1,557

 
$
1,557

 
$
(203
)
 
$
(221
)
Impaired loans
$
—

 
$
—

 
$
15,385

 
$
15,385

 
$
(529
)
 
$
(279
)
The following table pre
Schedule of the Carrying Value and Fair Value of Financial Instruments ents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands): 
 
 
 
June 30, 2020
 
December 31, 2019
 
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Assets:
 
 
 

 
 

 
 

 
 

Cash and cash equivalents
1
 
$
402,231

 
$
402,231

 
$
214,673

 
$
214,673

Investment securities
1/2
 
$
8,693,628

 
$
8,694,622

 
$
7,769,237

 
$
7,769,949

Non-marketable equity securities
2
 
$
233,051

 
$
233,051

 
$
253,664

 
$
253,664

Loans held for sale
2
 
$
2,623

 
$
2,802

 
$
37,926

 
$
39,731

Loans, net
3
 
$
23,568,766

 
$
24,024,615

 
$
23,046,317

 
$
23,350,684

Derivative assets
2
 
$
145,802

 
$
145,802

 
$
43,686

 
$
43,686

Liabilities:
 
 
 
 
 
 
 
 
 
Demand, savings and money market deposits
2
 
$
19,339,621

 
$
19,339,621

 
$
17,047,344

 
$
17,047,344

Time deposits
2
 
$
6,730,803

 
$
6,762,832

 
$
7,347,247

 
$
7,377,301

Federal funds purchased
2
 
$
100,000

 
$
100,000

 
$
100,000

 
$
100,000

FHLB and PPPLF borrowings
2
 
$
4,650,599

 
$
4,648,739

 
$
4,480,501

 
$
4,500,969

Notes and other borrowings
2
 
$
722,332

 
$
779,966

 
$
429,338

 
$
473,327

Derivative liabilities
2
 
$
52,013

 
$
52,013

 
$
19,029

 
$
19,029