Stockholders' Equity and EPS (Tables)

12 Months Ended

Dec. 31, 2019

Equity and Earnings Per Share [Abstract]

Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

The following table summarizes the items reclassified out of accumulated other comprehensive income into the Consolidated Statements of Income for 2019, 2018 and 2017:

		Year ended December 31,
(Dollars in thousands)	Income Statement Location	2019			2018			2017
Reclassification adjustment for losses on available-for-sale securities included in net income	Gains on investment securities, net	$	3,905		$	740		$	5,189
Related tax benefit	Income tax expense	(1,087		)	(205		)	(2,098		)
Reclassification adjustment for losses on cash flow hedges included in net income	Net interest income	5,358			—			—
Related tax benefit	Income tax expense	(1,489		)	—			—
Total reclassification adjustment for losses included in net income, net of tax		$	6,687		$	535		$	3,091

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The table below summarizes the activity relating to net gains and losses on our cash flow hedges included in accumulated other comprehensive income for 2019, 2018 and 2017. Over the next 12 months, we expect that approximately $3.2 million in accumulated other comprehensive income ("AOCI") at December 31, 2019, related to our cash flow hedges will be reclassified out of AOCI and recognized in net income.

	Year ended December 31,
(Dollars in thousands)	2019			2018		2017
Balance, beginning of period, net of tax	$	—		$	—	$	—
Net decrease in fair value, net of tax	(5,999		)	—		—
Net realized loss reclassified to net income, net of tax	3,869			—		—
Balance, end of period, net of tax	$	(2,130	)	$	—	$	—

Reconciliation of Basic EPS to Diluted EPS

The following is a reconciliation of basic EPS to diluted EPS for 2019, 2018 and 2017:

	Year ended December 31,
(Dollars and shares in thousands, except per share amounts)	2019		2018		2017
Numerator:
Net income available to common stockholders	$	1,136,856	$	973,840	$	490,506
Denominator:
Weighted average common shares outstanding—basic	51,915		53,078		52,588
Weighted average effect of dilutive securities:
Stock options and ESPP	227		377		385
Restricted stock units	169		317		333
Weighted average common shares outstanding—diluted	52,311		53,772		53,306
Earnings per common share:
Basic	$	21.90	$	18.35	$	9.33
Diluted	21.73		18.11		9.20

Weighted Average Common Shares Excluded from Diluted EPS Calculation

The following table summarizes the weighted average common shares excluded from the diluted EPS calculation due to the antidilutive effect for 2019, 2018 and 2017:

	Year ended December 31,
(Shares in thousands)	2019	2018	2017
Stock options	167	59	73
Restricted stock units	250	85	1
Total	417	144	74

Schedule of Preferred Stock

The following table summarizes our preferred stock at December 31, 2019:

Series	Description	Amount outstanding (in millions)		Carrying value (in millions)		Shares issued and outstanding	Par Value		Ownership interest per depository share	Liquidation preference per depository share		2019 dividends paid per depository share
Series A	5.250% Fixed-Rate Non-Cumulative Perpetual Preferred Stock	$	350	$	340.1	350,000	$	0.001	1/40th	$	25	$	—