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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
INTEREST INCOME:      
Mortgage and other loans $ 1,441,462 $ 1,414,884 $ 1,487,662
Securities and money market investments 250,122 268,183 220,436
Total interest income 1,691,584 1,683,067 1,708,098
INTEREST EXPENSE:      
NOW and money market accounts 46,467 39,508 35,884
Savings accounts 50,776 35,727 21,950
Certificates of deposit 62,906 74,511 83,805
Borrowed funds 1,123,360 392,968 399,843
Total interest expense 1,283,509 542,714 541,482
Net interest income 408,075 1,140,353 1,166,616
(Recovery of) provision for losses (15,004) (18,587) 30,758
Net interest income after (recoveries of) provisions for loan losses 423,079 1,158,940 1,135,858
NON-INTEREST INCOME:      
Total loss on OTTI of securities     (612)
Less: Non-credit portion of OTTI recorded in other comprehensive (loss) income (before taxes) 0 0 0
Net loss on OTTI recognized in earnings     (612)
Mortgage banking income 54,113 62,953 78,283
Fee income 34,058 36,585 38,179
Bank-owned life insurance 27,541 27,150 29,938
Net gain on sales of securities 4,054 14,029 21,036
FDIC indemnification (expense) income (9,336) (14,870) 10,206
Other 100,333 75,746 41,800
Total non-interest income 210,763 [1] 201,593 [1] 218,830
Operating expenses:      
Compensation and benefits 342,624 306,848 313,196
Occupancy and equipment 102,435 99,016 97,252
General and administrative 170,541 173,306 181,330
Total operating expenses 615,600 579,170 591,778
Amortization of core deposit intangibles 5,344 8,297 15,784
Debt repositioning charge 141,209    
Merger-related expenses 3,702    
Total non-interest expense 765,855 [2] 587,467 [2] 607,562
(Loss) Income before income tax expense (132,013) 773,066 747,126
Income tax (benefit) expense (84,857) 287,669 271,579
Net (Loss) income (47,156) 485,397 475,547
Other comprehensive (loss) income, net of tax:      
Change in net unrealized gain (loss) on securities available for sale, net of tax of $437; $4,343; and $4,765, respectively 475 6,407 (7,043)
Change in the non-credit portion of OTTI losses recognized in other comprehensive (loss) income, net of tax of $44; $142; and $5,028, respectively 69 217 7,921
Change in pension and post-retirement obligations, net of tax of $1,161; $14,992; and $20,116, respectively (1,445) (22,123) 29,628
Less: Reclassification adjustment for sales of available-for-sale securities and loss on OTTI of securities, net of tax of $306; $2,492; and $3,578, respectively (434) (3,694) (5,294)
Total other comprehensive (loss) income, net of tax (1,335) (19,193) 25,212
Total comprehensive (loss) income, net of tax $ (48,491) $ 466,204 $ 500,759
Basic (loss) earnings per share $ (0.11) $ 1.09 $ 1.08
Diluted (loss) earnings per share $ (0.11) $ 1.09 $ 1.08
Non-Covered Loans      
INTEREST EXPENSE:      
(Recovery of) provision for losses $ (3,334)   $ 18,000
Covered Loans      
INTEREST EXPENSE:      
(Recovery of) provision for losses $ (11,670) $ (18,587) $ 12,758
[1] Includes ancillary fee income.
[2] Includes both direct and indirect expenses.