Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'UMBF | ' |
Entity Registrant Name | 'UMB FINANCIAL CORP | ' |
Entity Central Index Key | '0000101382 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 45,493,346 |
CONSOLIDATED_BALANCE_SHEETS_Un
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Loans: | $7,103,163 | $6,520,512 |
Allowance for loan losses | -77,316 | -74,751 |
Net loans | 7,025,847 | 6,445,761 |
Loans held for sale | 1,718 | 1,357 |
Securities: | ' | ' |
Available for sale | 6,759,803 | 6,762,411 |
Held to maturity (fair market value of $270,290 and $231,510, respectively) | 237,961 | 209,770 |
Trading | 31,790 | 28,464 |
Federal Reserve Bank stock and other | 71,192 | 50,482 |
Total investment securities | 7,100,746 | 7,051,127 |
Federal funds sold and securities purchased under agreements to resell | 65,255 | 87,018 |
Interest-bearing due from banks | 986,428 | 2,093,467 |
Cash and due from banks | 395,956 | 521,001 |
Bank premises and equipment, net | 257,341 | 249,689 |
Accrued income | 77,263 | 78,216 |
Goodwill | 209,758 | 209,758 |
Other intangibles | 46,966 | 55,585 |
Other assets | 116,750 | 118,873 |
Total assets | 16,284,028 | 16,911,852 |
Deposits: | ' | ' |
Noninterest-bearing demand | 5,467,810 | 5,189,998 |
Interest-bearing demand and savings | 6,324,535 | 7,001,126 |
Time deposits under $100,000 | 434,863 | 491,792 |
Time deposits of $100,000 or more | 526,229 | 957,850 |
Total deposits | 12,753,437 | 13,640,766 |
Federal funds purchased and repurchase agreements | 1,711,809 | 1,583,218 |
Short-term debt | ' | 107 |
Long-term debt | 7,067 | 5,055 |
Accrued expenses and taxes | 161,194 | 153,450 |
Other liabilities | 35,172 | 23,191 |
Total liabilities | 14,668,679 | 15,405,787 |
SHAREHOLDERS' EQUITY | ' | ' |
Common stock, $1.00 par value; 80,000,000 shares authorized; 55,056,730 shares issued; and 45,485,313 and 45,221,237 shares outstanding, respectively | 55,057 | 55,057 |
Capital surplus | 891,353 | 882,407 |
Retained earnings | 947,664 | 884,630 |
Accumulated other comprehensive income (loss) | 1,827 | -32,640 |
Treasury stock, 9,571,417 and 9,835,493 shares, at cost, respectively | -280,552 | -283,389 |
Total shareholders' equity | 1,615,349 | 1,506,065 |
Total liabilities and shareholders' equity | $16,284,028 | $16,911,852 |
CONSOLIDATED_BALANCE_SHEETS_Un1
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Held to maturity, fair market value | $270,290 | $231,510 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 55,056,730 | 55,056,730 |
Common stock, shares outstanding | 45,485,313 | 45,221,237 |
Treasury stock, shares | 9,571,417 | 9,835,493 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
INTEREST INCOME | ' | ' | ' | ' |
Loans | $61,636 | $59,125 | $180,845 | $170,459 |
Securities: | ' | ' | ' | ' |
Taxable interest | 18,884 | 19,017 | 56,866 | 56,325 |
Tax-exempt interest | 9,745 | 10,338 | 29,450 | 30,216 |
Total securities income | 28,629 | 29,355 | 86,316 | 86,541 |
Federal funds and resell agreements | 87 | 62 | 166 | 126 |
Interest-bearing due from banks | 426 | 276 | 2,015 | 1,276 |
Trading securities | 39 | 278 | 311 | 808 |
Total interest income | 90,817 | 89,096 | 269,653 | 259,210 |
INTEREST EXPENSE | ' | ' | ' | ' |
Deposits | 3,015 | 3,097 | 9,166 | 10,222 |
Federal funds and repurchase agreements | 358 | 385 | 1,293 | 1,443 |
Other | -82 | 69 | 53 | 190 |
Total interest expense | 3,291 | 3,551 | 10,512 | 11,855 |
Net interest income | 87,526 | 85,545 | 259,141 | 247,355 |
Provision for loan losses | 4,500 | 6,500 | 14,000 | 13,500 |
Net interest income after provision for loan losses | 83,026 | 79,045 | 245,141 | 233,855 |
NONINTEREST INCOME | ' | ' | ' | ' |
Trust and securities processing | 74,062 | 68,465 | 218,982 | 194,263 |
Trading and investment banking | 3,826 | 3,792 | 14,558 | 16,324 |
Service charges on deposits | 21,634 | 21,036 | 63,819 | 63,441 |
Insurance fees and commissions | 911 | 869 | 2,246 | 3,066 |
Brokerage fees | 3,276 | 2,895 | 8,166 | 8,727 |
Bankcard fees | 17,121 | 15,196 | 49,929 | 47,666 |
Gain on sales of securities available for sale, net | 26 | 1,140 | 4,065 | 8,552 |
Equity earnings on alternative investments | 2,470 | 4,241 | 8,462 | 4,241 |
Other | 3,149 | 3,991 | 13,213 | 9,946 |
Total noninterest income | 126,475 | 121,625 | 383,440 | 356,226 |
NONINTEREST EXPENSE | ' | ' | ' | ' |
Salaries and employee benefits | 90,041 | 83,733 | 268,454 | 251,000 |
Occupancy, net | 10,475 | 10,016 | 29,885 | 29,175 |
Equipment | 13,408 | 12,205 | 38,991 | 36,012 |
Supplies and services | 4,817 | 4,761 | 15,008 | 14,611 |
Marketing and business development | 6,057 | 5,536 | 16,966 | 15,514 |
Processing fees | 14,085 | 14,471 | 42,553 | 42,854 |
Legal and consulting | 4,496 | 4,433 | 12,500 | 12,877 |
Bankcard | 4,097 | 4,561 | 12,782 | 13,817 |
Amortization of intangible assets | 3,043 | 3,245 | 9,219 | 10,054 |
Regulatory fees | 2,577 | 2,670 | 7,802 | 7,066 |
Contingency reserve | ' | ' | 20,272 | ' |
Other | 8,365 | 7,432 | 25,781 | 20,772 |
Total noninterest expense | 161,461 | 153,063 | 500,213 | 453,752 |
Income before income taxes | 48,040 | 47,607 | 128,368 | 136,329 |
Income tax provision | 12,410 | 13,175 | 34,653 | 37,027 |
NET INCOME | $35,630 | $34,432 | $93,715 | $99,302 |
PER SHARE DATA | ' | ' | ' | ' |
Net income-basic | $0.79 | $0.85 | $2.09 | $2.47 |
Net income-diluted | $0.78 | $0.83 | $2.06 | $2.44 |
Dividends | $0.23 | $0.22 | $0.68 | $0.65 |
Weight average shares outstanding | 44,890,309 | 40,698,700 | 44,819,125 | 40,185,351 |
STATEMENTS_OF_CONSOLIDATED_COM
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net Income | $35,630 | $34,432 | $93,715 | $99,302 |
Unrealized (losses) gains on securities: | ' | ' | ' | ' |
Change in unrealized holding (losses) gains, net | -24,213 | 11,694 | 59,156 | -151,721 |
Less: Reclassifications adjustment for gains included in net income | -26 | -1,140 | -4,065 | -8,552 |
Change in unrealized (losses) gains on securities during the period | -24,239 | 10,554 | 55,091 | -160,273 |
Income tax benefit (expense) | 9,165 | -4,005 | -20,624 | 59,007 |
Other comprehensive (loss) income | -15,074 | 6,549 | 34,467 | -101,266 |
Comprehensive income (loss) | $20,556 | $40,981 | $128,182 | ($1,964) |
STATEMENTS_OF_CHANGES_IN_CONSO
STATEMENTS OF CHANGES IN CONSOLIDATED SHAREHOLDERS' EQUITY (Unaudited) (USD $) | Total | Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive (Loss) Income | Treasury Stock |
In Thousands | ||||||
Beginning Balance at Dec. 31, 2012 | $1,279,345 | $55,057 | $732,069 | $787,015 | $85,588 | ($380,384) |
Total comprehensive income (loss) | -1,964 | ' | ' | 99,302 | -101,266 | ' |
Dividends | -26,179 | ' | ' | -26,179 | ' | ' |
Purchase of treasury stock | -2,551 | ' | ' | ' | ' | -2,551 |
Issuance of equity awards | 449 | ' | -2,189 | ' | ' | 2,638 |
Recognition of equity based compensation | 6,319 | ' | 6,319 | ' | ' | ' |
Net tax benefit related to equity compensation plans | 963 | ' | 963 | ' | ' | ' |
Sale of treasury stock | 539 | ' | 367 | ' | ' | 172 |
Exercise of stock options | 5,557 | ' | 2,916 | ' | ' | 2,641 |
Common stock issuance | 201,177 | ' | 121,708 | ' | ' | 79,469 |
Ending Balance at Sep. 30, 2013 | 1,463,655 | 55,057 | 862,153 | 860,138 | -15,678 | -298,015 |
Beginning Balance at Dec. 31, 2013 | 1,506,065 | 55,057 | 882,407 | 884,630 | -32,640 | -283,389 |
Total comprehensive income (loss) | 128,182 | ' | ' | 93,715 | 34,467 | ' |
Dividends | -30,681 | ' | ' | -30,681 | ' | ' |
Purchase of treasury stock | -3,858 | ' | ' | ' | ' | -3,858 |
Issuance of equity awards | 490 | ' | -2,624 | ' | ' | 3,114 |
Recognition of equity based compensation | 7,224 | ' | 7,224 | ' | ' | ' |
Net tax benefit related to equity compensation plans | 1,507 | ' | 1,507 | ' | ' | ' |
Sale of treasury stock | 699 | ' | 455 | ' | ' | 244 |
Exercise of stock options | 5,721 | ' | 2,384 | ' | ' | 3,337 |
Ending Balance at Sep. 30, 2014 | $1,615,349 | $55,057 | $891,353 | $947,664 | $1,827 | ($280,552) |
STATEMENTS_OF_CHANGES_IN_CONSO1
STATEMENTS OF CHANGES IN CONSOLIDATED SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' | ' |
Dividends, per share | $0.23 | $0.22 | $0.68 | $0.65 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating Activities | ' | ' |
Net Income | $93,715 | $99,302 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 14,000 | 13,500 |
Depreciation and amortization | 34,415 | 32,998 |
Deferred income tax benefit | -5,909 | -5,292 |
Net (increase) decrease in trading securities | -11,787 | 770 |
Gains on sales of securities available for sale, net | -4,065 | -8,552 |
Gains on sales of assets | -2,948 | -674 |
Amortization of securities premiums, net of discount accretion | 38,599 | 40,339 |
Originations of loans held for sale | -51,427 | -101,935 |
Net gains on sales of loans held for sale | -814 | -609 |
Proceeds from sales of loans held for sale | 51,880 | 103,388 |
Equity based compensation | 7,714 | 6,768 |
Changes in: | ' | ' |
Accrued income | 953 | -2,281 |
Accrued expenses and taxes | 21,465 | 28,401 |
Other assets and liabilities, net | -4,168 | -13,009 |
Net cash provided by operating activities | 181,623 | 193,114 |
Investing Activities | ' | ' |
Proceeds from maturities of securities held to maturity | 16,804 | 27,209 |
Proceeds from sales of securities available for sale | 410,580 | 678,522 |
Proceeds from maturities of securities available for sale | 1,034,231 | 1,193,130 |
Purchases of securities held to maturity | -58,573 | -94,481 |
Purchases of securities available for sale | -1,411,017 | -1,894,722 |
Net increase in loans | -596,221 | -829,856 |
Net decrease in fed funds sold and resell agreements | 21,763 | 35,434 |
Net increase in interest bearing balances due from other financial institutions | -130,125 | -411 |
Purchases of bank premises and equipment | -35,219 | -26,997 |
Net cash activity from acquisitions and branch sales | -18,231 | 692 |
Proceeds from sales of bank premises and equipment | 5,014 | 808 |
Purchases of company-owned life insurance | -6,000 | ' |
Net cash used in investing activities | -766,994 | -910,672 |
Financing Activities | ' | ' |
Net (decrease) increase in demand and savings deposits | -386,207 | 1,505,416 |
Net decrease in time deposits | -480,791 | -117,737 |
Net increase (decrease) in fed funds purchased and repurchase agreements | 128,591 | -259,306 |
Net decrease in short-term debt | -107 | -303 |
Proceeds from long-term debt | 3,320 | 1,000 |
Repayment of long-term debt | -1,308 | -1,235 |
Payment of contingent consideration on acquisitions | -13,725 | -16,172 |
Cash dividends paid | -30,679 | -26,002 |
Net tax benefit related to equity compensation plans | 1,507 | 963 |
Common stock issuance | ' | 201,177 |
Proceeds from exercise of stock options and sales of treasury shares | 6,420 | 6,096 |
Purchases of treasury stock | -3,858 | -2,551 |
Net cash (used in) provided by financing activities | -776,837 | 1,291,346 |
(Decrease) increase in cash and cash equivalents | -1,362,208 | 573,788 |
Cash and cash equivalents at beginning of period | 2,582,428 | 1,366,394 |
Cash and cash equivalents at end of period | 1,220,220 | 1,940,182 |
Supplemental Disclosures: | ' | ' |
Income taxes paid | 40,789 | 34,351 |
Total interest paid | $10,720 | $12,560 |
Financial_Statement_Presentati
Financial Statement Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Financial Statement Presentation | ' |
1. Financial Statement Presentation | |
The consolidated financial statements include the accounts of UMB Financial Corporation and its subsidiaries (collectively, the Company) after elimination of all intercompany transactions. In the opinion of management of the Company, all adjustments, which were of a normal recurring nature and necessary for a fair presentation of the financial position and results of operations, have been made. The results of operations and cash flows for the interim periods presented may not be indicative of the results of the full year. The financial statements should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations within this Form 10-Q filing and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Summary of Significant Accounting Policies | ' | ||||||||
2. Summary of Significant Accounting Policies | |||||||||
The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in the states of Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is listed in the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013. | |||||||||
Cash and cash equivalents | |||||||||
Cash and cash equivalents include Cash and due from banks and amounts due from the Federal Reserve Bank. Amounts due from the Federal Reserve Bank are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets. | |||||||||
This table provides a summary of cash and cash equivalents as presented on the Consolidated Statement of Cash Flows as of September 30, 2014 and September 30, 2013 (in thousands): | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Due from the Federal Reserve | $ | 824,264 | $ | 1,335,590 | |||||
Cash and due from banks | 395,956 | 604,592 | |||||||
Cash and cash equivalents at end of period | $ | 1,220,220 | $ | 1,940,182 | |||||
Also included in the Interest-bearing due from banks line, but not considered cash and cash equivalents are amounts due from certificates of deposits held at other financial institutions. The amounts due from certificates of deposit totaled $157.3 million and $22.3 million at September 30, 2014 and September 30, 2013, respectively. | |||||||||
Per Share Data | |||||||||
Basic income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarterly per share data includes the dilutive effect of 551,674 and 650,028 shares issuable upon the exercise of options granted by the Company and outstanding at September 30, 2014 and 2013, respectively. Diluted year-to-date income per share includes the dilutive effect of 601,260 and 544,930 shares issuable upon the exercise of stock options granted by the Company and outstanding at September 30, 2014 and 2013, respectively. | |||||||||
Options issued under employee benefits plans to purchase 250,911 shares of common stock were outstanding at September 30, 2014, but were not included in the computation of quarter-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefit plans to purchase 250,911 and 270,839 shares of common stock were outstanding at September 30, 2014 and 2013, respectively, but were not included in the computation of year-to-date diluted EPS because the options were anti-dilutive. | |||||||||
Common Stock Issuance | |||||||||
On September 16, 2013, the Company completed the issuance of 3.9 million shares of common stock with net proceeds of $201.2 million to be used for strategic growth purposes. In addition, UMB granted the underwriters a 30-day option to purchase up to an additional 585,000 shares of common stock. On October 17, 2013, the underwriters exercised the option of 585,000 shares, which generated additional net proceeds of $30.2 million. |
New_Accounting_Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
New Accounting Pronouncements | ' |
3. New Accounting Pronouncements | |
Investment Companies In June 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-08, “Amendments to the Scope, Measurement, and Disclosure Requirements” for investment companies. The amendments changed the assessment of whether an entity is an investment company by requiring an entity to possess certain fundamental characteristics, while allowing judgment in assessing other typical characteristics. The ASU was effective January 1, 2014, and the Company did not change the status of any subsidiary, or the accounting applied to a subsidiary, under the new guidelines. | |
Accounting for Investments in Qualified Affordable Housing Projects In January 2014, the FASB issued ASU No. 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects.” The amendments permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Regardless of whether the reporting entity chooses to elect the proportional amortization method, this ASU introduces new recurring disclosures about all investments in qualified affordable housing projects. The ASU is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this accounting pronouncement will not have a significant impact on the Company’s financial statements or financial statement disclosures. | |
Reclassification of Residential Real Estate Loans In January 2014, the FASB issued ASU No. 2014-04, “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” The amendment is intended to reduce diversity in practice by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loans such that the loan receivable should be derecognized and the real stated property recognized. The amendments in this update are effective for interim and annual periods beginning after December 15, 2014. The adoption of this accounting pronouncement will not have a significant impact on the Company’s consolidated financial statements. | |
Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” The issuance is part of a joint effort by the FASB and the International Accounting Standards Board (IASB) to enhance financial reporting by creating common revenue recognition guidance for U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) and, thereby, improving the consistency of requirements, comparability of practices and usefulness of disclosures. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The amendments in this update are effective for interim and annual periods beginning after December 15, 2016. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | |
Repurchase-to-Maturity Transactions In June 2014, the FASB issued ASU No. 2014-11, “Repurchase-to-Maturity Transactions, Repurchased Financings, and Disclosures.” The amendment changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with accounting for other repurchase agreements. Additionally, the amendment requires new disclosures on transfers accounted for as sales in transactions that are economically similar to repurchase agreements and requires increased transparency on collateral pledged in secured borrowings. The amendments in this update are effective for interim and annual periods beginning after December 15, 2014. Early application is not permitted. The Company is currently evaluating the effect that ASU 2014-11 will have on its consolidated financial statements and related financial statement disclosures. | |
Stock Compensation In June 2014, the FASB issued ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target could be Achieved after the Requisite Service Period.” The amendment is intended to reduce diversity in practice by clarifying that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this update are effective for interim and annual periods beginning after December 15, 2015 with early adoption permitted. The adoption of this accounting pronouncement will not have a significant impact on the Company’s consolidated financial statements. | |
Troubled Debt Restructurings by Creditors In August 2014, the FASB issued ASU No. 2014-14, “Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure.” The amendment is intended to reduce diversity in practice in the classification of mortgage loans extended under certain government-sponsored loan guarantee programs, such as those offered by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA), that entitle the creditor to recover all or a portion of the unpaid principal balance from the government if a borrower defaults. This update requires government-guaranteed mortgage loans that meet certain criteria to be derecognized and a separate receivable be recognized upon foreclosure. The amendments in this update are effective for interim and annual periods beginning after December 15, 2014. The adoption of this accounting pronouncement will not have a significant impact on the Company’s consolidated financial statements. | |
Going Concern In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The amendment addresses management’s responsibility in regularly evaluating whether there is substantial doubt about a company’s ability to continue as a going concern. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter, although early adoption is permitted. The adoption of this accounting pronouncement will not have a significant impact on the Company’s consolidated financial statements. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | ||||||||||||||||||||||||
4. Loans and Allowance for Loan Losses | |||||||||||||||||||||||||
Loan Origination/Risk Management | |||||||||||||||||||||||||
The Company has certain lending policies and procedures in place that are designed to minimize the level of risk within the loan portfolio. Diversification of the loan portfolio manages the risk associated with fluctuations in economic conditions. The Company maintains an independent loan review department that reviews and validates the risk assessment on a continual basis. Management regularly evaluates the results of the loan reviews. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. | |||||||||||||||||||||||||
Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Commercial loans are made based on the identified cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts from its customers. Commercial credit cards are generally unsecured and are underwritten with criteria similar to commercial loans including an analysis of the borrower’s cash flow, available business capital, and overall credit-worthiness of the borrower. | |||||||||||||||||||||||||
Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Company requires an appraisal of the collateral be made at origination and on an as-needed basis, in conformity with current market conditions and regulatory requirements. The underwriting standards address both owner and non-owner occupied real estate. | |||||||||||||||||||||||||
Construction loans are underwritten using feasibility studies, independent appraisal reviews, sensitivity analysis or absorption and lease rates and financial analysis of the developers and property owners. Construction loans are based upon estimates of costs and value associated with the complete project. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their repayment being sensitive to interest rate changes, governmental regulation of real property, economic conditions, and the availability of long-term financing. | |||||||||||||||||||||||||
Underwriting standards for residential real estate and home equity loans are based on the borrower’s loan-to-value percentage, collection remedies, ability to repay, and overall credit history. | |||||||||||||||||||||||||
Consumer loans are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer loans and leases and periodically reviews the distribution of FICO scores relative to historical periods to monitor credit risk on its credit card loans. The underwriting and review practices combined with the relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Consumer loans and leases that are 90 days past due or more are considered non-performing. | |||||||||||||||||||||||||
This table provides a summary of loan classes and an aging of past due loans at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
30-89 | Greater | Non- | Total | Current | Total Loans | ||||||||||||||||||||
Days Past | than 90 | Accrual | Past | ||||||||||||||||||||||
Due and | Days Past | Loans | Due | ||||||||||||||||||||||
Accruing | Due and | ||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 1,376 | $ | 199 | $ | 15,075 | $ | 16,650 | $ | 3,522,624 | $ | 3,539,274 | |||||||||||||
Commercial – credit card | 293 | 75 | 44 | 412 | 129,612 | 130,024 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 2,380 | — | 948 | 3,328 | 242,477 | 245,805 | |||||||||||||||||||
Real estate – commercial | 3,050 | 2,038 | 15,267 | 20,355 | 1,786,570 | 1,806,925 | |||||||||||||||||||
Real estate – residential | 869 | 207 | 567 | 1,643 | 315,183 | 316,826 | |||||||||||||||||||
Real estate – HELOC | 157 | — | 115 | 272 | 629,224 | 629,496 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | 2,348 | 1,962 | 550 | 4,860 | 298,833 | 303,693 | |||||||||||||||||||
Consumer – other | 3,723 | 197 | 96 | 4,016 | 87,904 | 91,920 | |||||||||||||||||||
Leases | — | — | — | — | 39,200 | 39,200 | |||||||||||||||||||
Total loans | $ | 14,196 | $ | 4,678 | $ | 32,662 | $ | 51,536 | $ | 7,051,627 | $ | 7,103,163 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
30-89 | Greater | Non- | Total | Current | Total | ||||||||||||||||||||
Days Past | than 90 | Accrual | Past | Loans | |||||||||||||||||||||
Due and | Days Past | Loans | Due | ||||||||||||||||||||||
Accruing | Due and | ||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 2,107 | $ | 135 | $ | 8,042 | $ | 10,284 | $ | 3,291,219 | $ | 3,301,503 | |||||||||||||
Commercial – credit card | 362 | 82 | 38 | 482 | 102,788 | 103,270 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 186 | — | 934 | 1,120 | 151,755 | 152,875 | |||||||||||||||||||
Real estate – commercial | 3,611 | 344 | 19,213 | 23,168 | 1,678,983 | 1,702,151 | |||||||||||||||||||
Real estate – residential | 1,257 | 13 | 868 | 2,138 | 287,218 | 289,356 | |||||||||||||||||||
Real estate – HELOC | 880 | 6 | 210 | 1,096 | 565,032 | 566,128 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | 3,230 | 2,448 | 1,031 | 6,709 | 311,627 | 318,336 | |||||||||||||||||||
Consumer – other | 1,727 | 190 | 370 | 2,287 | 60,625 | 62,912 | |||||||||||||||||||
Leases | — | — | — | — | 23,981 | 23,981 | |||||||||||||||||||
Total loans | $ | 13,360 | $ | 3,218 | $ | 30,706 | $ | 47,284 | $ | 6,473,228 | $ | 6,520,512 | |||||||||||||
The Company sold $51.9 million and $103.4 million of residential real estate and student loans in the secondary market without recourse during the nine-month periods ended September 30, 2014 and September 30, 2013, respectively. | |||||||||||||||||||||||||
The Company has ceased the recognition of interest on loans with a carrying value of $32.7 million and $30.7 million at September 30, 2014 and December 31, 2013, respectively. Restructured loans totaled $10.2 million and $12.1 million at September 30, 2014 and December 31, 2013, respectively. Loans 90 days past due and still accruing interest amounted to $4.7 million and $3.2 million at September 30, 2014 and December 31, 2013, respectively. There was an insignificant amount of interest recognized on impaired loans during 2014 and 2013. | |||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||
As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grading of specified classes of loans, net charge-offs, non-performing loans, and general economic conditions. | |||||||||||||||||||||||||
The Company utilizes a risk grading matrix to assign a rating to each of its commercial, commercial real estate, and construction real estate loans. The loan rankings are summarized into the following categories: Non-watch list, Watch, Special Mention, and Substandard. Any loan not classified in one of the categories described below is considered to be a Non-watch list loan. The loans in any of the three categories below are considered to be a criticized loan. A description of the general characteristics of the loan ranking categories is as follows: | |||||||||||||||||||||||||
• | Watch – This rating represents credit exposure that presents higher than average risk and warrants greater than routine attention by Company personnel due to conditions affecting the borrower, the borrower’s industry or the economic environment. These conditions have resulted in some degree of uncertainty that results in higher than average credit risk. | ||||||||||||||||||||||||
• | Special Mention – This rating reflects a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or the institution’s credit position at some future date. The rating is not adversely classified and does not expose an institution to sufficient risk to warrant adverse classification. | ||||||||||||||||||||||||
• | Substandard – This rating represents an asset inadequately protected by the financial worth and paying capacity of the borrower or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans in this category are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard. This category may include loans where the collection of full principal and interest is doubtful or remote. | ||||||||||||||||||||||||
All other classes of loans are generally evaluated and monitored based on payment activity. Non-performing loans include restructured loans on non-accrual and all other non-accrual loans. | |||||||||||||||||||||||||
This table provides an analysis of the credit risk profile of each loan class at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Credit Exposure | |||||||||||||||||||||||||
Credit Risk Profile by Risk Rating | |||||||||||||||||||||||||
Commercial | Real estate-construction | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Non-watch list | $ | 3,263,847 | $ | 3,041,224 | $ | 243,513 | $ | 151,359 | |||||||||||||||||
Watch | 61,424 | 110,932 | 186 | 210 | |||||||||||||||||||||
Special Mention | 87,947 | 78,064 | 758 | — | |||||||||||||||||||||
Substandard | 126,056 | 71,283 | 1,348 | 1,306 | |||||||||||||||||||||
Total | $ | 3,539,274 | $ | 3,301,503 | $ | 245,805 | $ | 152,875 | |||||||||||||||||
Real estate-commercial | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Non-watch list | $ | 1,689,958 | $ | 1,565,894 | |||||||||||||||||||||
Watch | 46,509 | 76,647 | |||||||||||||||||||||||
Special Mention | 24,677 | 19,876 | |||||||||||||||||||||||
Substandard | 45,781 | 39,734 | |||||||||||||||||||||||
Total | $ | 1,806,925 | $ | 1,702,151 | |||||||||||||||||||||
Credit Exposure | |||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||
Commercial-credit card | Real estate-residential | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Performing | $ | 129,980 | $ | 103,232 | $ | 316,259 | $ | 288,488 | |||||||||||||||||
Non-performing | 44 | 38 | 567 | 868 | |||||||||||||||||||||
Total | $ | 130,024 | $ | 103,270 | $ | 316,826 | $ | 289,356 | |||||||||||||||||
Real estate-HELOC | Consumer-credit card | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Performing | $ | 629,381 | $ | 565,918 | $ | 303,143 | $ | 317,305 | |||||||||||||||||
Non-performing | 115 | 210 | 550 | 1,031 | |||||||||||||||||||||
Total | $ | 629,496 | $ | 566,128 | $ | 303,693 | $ | 318,336 | |||||||||||||||||
Consumer-other | Leases | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Performing | $ | 91,824 | $ | 62,542 | $ | 39,200 | $ | 23,981 | |||||||||||||||||
Non-performing | 96 | 370 | — | — | |||||||||||||||||||||
Total | $ | 91,920 | $ | 62,912 | $ | 39,200 | $ | 23,981 | |||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
The allowance for loan losses is a reserve established through a provision for loan losses charged to expense, which represents management’s judgment of inherent probable losses within the Company’s loan portfolio as of the balance sheet date. The allowance is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio. Accordingly, the methodology is based on historical loss trends. The Company’s process for determining the appropriate level of the allowance for loan losses is designed to account for credit deterioration as it occurs. The provision for probable loan losses reflects loan quality trends, including the levels of and trends related to non-accrual loans, past due loans, potential problem loans, criticized loans and net charge-offs or recoveries, among other factors. | |||||||||||||||||||||||||
The level of the allowance reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and estimated losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific loans; however, the entire allowance is available for any loan that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the adequacy of the allowance is dependent upon a variety of factors beyond the Company’s control, including, among other things, the performance of the Company’s loan portfolio, the economy, changes in interest rates and changes in the regulatory environment. | |||||||||||||||||||||||||
The Company’s allowance for loan losses consists of specific valuation allowances and general valuation allowances based on historical loan loss experience for similar loans with similar characteristics and trends, general economic conditions and other qualitative risk factors both internal and external to the Company. | |||||||||||||||||||||||||
The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of impaired loans. Loans are classified based on an internal risk grading process that evaluates the obligor’s ability to repay, the underlying collateral, if any, and the economic environment and industry in which the borrower operates. When a loan is considered impaired, the loan is analyzed to determine the need, if any, to specifically allocate a portion of the allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk ranking of the loan and economic conditions affecting the borrower’s industry. | |||||||||||||||||||||||||
General valuation allowances are calculated based on the historical loss experience of specific types of loans including an evaluation of the time span and volume of the actual charge-off. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are updated based on actual charge-off experience. A valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio, time span to charge-off, and the total dollar amount of the loans in the pool. The Company’s pools of similar loans include similarly risk-graded groups of commercial loans, commercial real estate loans, commercial credit card, home equity loans, consumer real estate loans and consumer and other loans. The Company also considers a loan migration analysis for criticized loans. This analysis includes an assessment of the probability that a loan will move to a loss position based on its risk rating. The consumer credit card pool is evaluated based on delinquencies and credit scores. In addition, a portion of the allowance is determined by a review of qualitative factors by management. | |||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES AND RECORDED INVESTMENT IN LOANS | |||||||||||||||||||||||||
This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 52,433 | $ | 14,217 | $ | 10,074 | $ | 78 | $ | 76,802 | |||||||||||||||
Charge-offs | (2,033 | ) | (57 | ) | (2,745 | ) | — | (4,835 | ) | ||||||||||||||||
Recoveries | 396 | 8 | 445 | — | 849 | ||||||||||||||||||||
Provision | 3,983 | (1,515 | ) | 1,964 | 68 | 4,500 | |||||||||||||||||||
Ending Balance | $ | 54,779 | $ | 12,653 | $ | 9,738 | $ | 146 | $ | 77,316 | |||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 48,886 | $ | 15,342 | $ | 10,447 | $ | 76 | $ | 74,751 | |||||||||||||||
Charge-offs | (4,980 | ) | (238 | ) | (8,881 | ) | — | (14,099 | ) | ||||||||||||||||
Recoveries | 664 | 25 | 1,975 | — | 2,664 | ||||||||||||||||||||
Provision | 10,209 | (2,476 | ) | 6,197 | 70 | 14,000 | |||||||||||||||||||
Ending Balance | $ | 54,779 | $ | 12,653 | $ | 9,738 | $ | 146 | $ | 77,316 | |||||||||||||||
Ending Balance: individually evaluated for impairment | $ | 2,252 | $ | 1,368 | $ | — | $ | — | $ | 3,620 | |||||||||||||||
Ending Balance: collectively evaluated for impairment | 52,527 | 11,285 | 9,738 | 146 | 73,696 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Ending Balance: loans | $ | 3,669,298 | $ | 2,999,052 | $ | 395,613 | $ | 39,200 | $ | 7,103,163 | |||||||||||||||
Ending Balance: individually evaluated for impairment | 19,176 | 13,467 | 17 | — | 32,660 | ||||||||||||||||||||
Ending Balance: collectively evaluated for impairment | 3,650,122 | 2,985,585 | 395,596 | 39,200 | 7,070,503 | ||||||||||||||||||||
This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2013 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 45,108 | $ | 16,296 | $ | 10,168 | $ | 75 | $ | 71,647 | |||||||||||||||
Charge-offs | (592 | ) | (162 | ) | (3,126 | ) | — | (3,880 | ) | ||||||||||||||||
Recoveries | 246 | 21 | 404 | — | 671 | ||||||||||||||||||||
Provision | 3,491 | 2 | 2,996 | 11 | 6,500 | ||||||||||||||||||||
Ending Balance | $ | 48,253 | $ | 16,157 | $ | 10,442 | $ | 86 | $ | 74,938 | |||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 43,390 | $ | 15,506 | $ | 12,470 | $ | 60 | $ | 71,426 | |||||||||||||||
Charge-offs | (3,015 | ) | (533 | ) | (9,265 | ) | — | (12,813 | ) | ||||||||||||||||
Recoveries | 761 | 37 | 2,027 | — | 2,825 | ||||||||||||||||||||
Provision | 7,117 | 1,147 | 5,210 | 26 | 13,500 | ||||||||||||||||||||
Ending Balance | $ | 48,253 | $ | 16,157 | $ | 10,442 | $ | 86 | $ | 74,938 | |||||||||||||||
Ending Balance: individually evaluated for impairment | $ | 3,301 | $ | 1,412 | $ | — | $ | — | $ | 4,713 | |||||||||||||||
Ending Balance: collectively evaluated for impairment | 44,952 | 14,745 | 10,442 | 86 | 70,225 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Ending Balance: loans | $ | 3,494,603 | $ | 2,604,956 | $ | 381,704 | $ | 25,639 | $ | 6,506,902 | |||||||||||||||
Ending Balance: individually evaluated for impairment | 14,835 | 15,852 | 30 | — | 30,717 | ||||||||||||||||||||
Ending Balance: collectively evaluated for impairment | 3,479,768 | 2,589,104 | 381,674 | 25,639 | 6,476,185 | ||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||
This table provides an analysis of impaired loans by class at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||
Balance | with No | with | Investment | Investment | |||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 23,599 | $ | 8,710 | $ | 10,466 | $ | 19,176 | $ | 2,252 | $ | 15,762 | |||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 1,499 | 825 | 123 | 948 | 123 | 928 | |||||||||||||||||||
Real estate – commercial | 13,758 | 4,816 | 6,652 | 11,468 | 1,245 | 12,035 | |||||||||||||||||||
Real estate – residential | 1,224 | 1,051 | — | 1,051 | — | 1,030 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | 17 | 17 | — | 17 | — | 15 | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | 40,097 | $ | 15,419 | $ | 17,241 | $ | 32,660 | $ | 3,620 | $ | 29,770 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||
Balance | with No | with | Investment | Investment | |||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 17,227 | $ | 3,228 | $ | 11,407 | $ | 14,635 | $ | 2,882 | $ | 14,791 | |||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 1,408 | 810 | 123 | 933 | — | 1,186 | |||||||||||||||||||
Real estate – commercial | 14,686 | 5,305 | 8,218 | 13,523 | 94 | 10,506 | |||||||||||||||||||
Real estate – residential | 1,317 | 1,087 | — | 1,087 | 1,276 | 1,122 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | 12 | 11 | — | 11 | — | 34 | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | 34,650 | $ | 10,441 | $ | 19,748 | $ | 30,189 | $ | 4,252 | $ | 27,639 | |||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
A loan modification is considered a troubled debt restructuring (TDR) when a concession had been granted to a debtor experiencing financial difficulties. The Company’s modifications generally include interest rate adjustments, principal reductions, and amortization and maturity date extensions. These modifications allow the debtor short-term cash relief to allow them to improve their financial condition. The Company’s restructured loans are individually evaluated for impairment and evaluated as part of the allowance for loan losses as described above in the Allowance for Loan Losses section of this note. | |||||||||||||||||||||||||
The Company had $428 thousand in commitments to lend to borrowers with loan modifications classified as TDR’s as of September 30, 2014. The Company made no TDR’s in the last 12 months that had payment defaults for the three or nine-month periods ended September 30, 2014. | |||||||||||||||||||||||||
This table provides a summary of loans restructured by class during the three and nine months ended September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | 1 | $ | 469 | $ | 469 | |||||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | — | — | — | — | — | — | |||||||||||||||||||
Real estate – commercial | 1 | 178 | 178 | 1 | 178 | 178 | |||||||||||||||||||
Real estate – residential | 1 | 67 | 67 | 4 | 277 | 301 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | — | — | — | — | — | — | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | 2 | $ | 245 | $ | 245 | 6 | $ | 924 | $ | 948 | |||||||||||||||
This table provides a summary of loans restructured by class for the three and nine months ended September 30, 2013 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | 1 | $ | 182 | $ | 182 | 3 | $ | 1,311 | $ | 1,249 | |||||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | — | — | — | — | — | — | |||||||||||||||||||
Real estate – commercial | — | — | — | 1 | 937 | 937 | |||||||||||||||||||
Real estate – residential | — | — | — | 1 | 425 | 425 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | — | — | — | — | — | — | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | 1 | $ | 182 | $ | 182 | 5 | $ | 2,673 | $ | 2,611 | |||||||||||||||
Securities
Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
5. Securities | |||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
This table provides detailed information about securities available for sale at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
U.S. Treasury | $ | 510,650 | $ | 472 | $ | (905 | ) | $ | 510,217 | ||||||||||||||||
U.S. Agencies | 986,247 | 1,029 | (1,853 | ) | 985,423 | ||||||||||||||||||||
Mortgage-backed | 3,182,642 | 23,396 | (39,665 | ) | 3,166,373 | ||||||||||||||||||||
State and political subdivisions | 1,944,165 | 27,390 | (5,874 | ) | 1,965,681 | ||||||||||||||||||||
Corporates | 133,312 | 5 | (1,208 | ) | 132,109 | ||||||||||||||||||||
Total | $ | 6,757,016 | $ | 52,292 | $ | (49,505 | ) | $ | 6,759,803 | ||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
U.S. Treasury | $ | 110,789 | $ | 284 | $ | (873 | ) | $ | 110,200 | ||||||||||||||||
U.S. Agencies | 1,258,176 | 2,793 | (3,306 | ) | 1,257,663 | ||||||||||||||||||||
Mortgage-backed | 2,984,963 | 23,942 | (64,339 | ) | 2,944,566 | ||||||||||||||||||||
State and political subdivisions | 2,003,509 | 23,493 | (31,756 | ) | 1,995,246 | ||||||||||||||||||||
Corporates | 457,275 | 902 | (3,441 | ) | 454,736 | ||||||||||||||||||||
Total | $ | 6,814,712 | $ | 51,414 | $ | (103,715 | ) | $ | 6,762,411 | ||||||||||||||||
The following table presents contractual maturity information for securities available for sale at September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in 1 year or less | $ | 466,001 | $ | 467,789 | |||||||||||||||||||||
Due after 1 year through 5 years | 2,299,824 | 2,311,028 | |||||||||||||||||||||||
Due after 5 years through 10 years | 687,956 | 696,024 | |||||||||||||||||||||||
Due after 10 years | 120,593 | 118,589 | |||||||||||||||||||||||
Total | 3,574,374 | 3,593,430 | |||||||||||||||||||||||
Mortgage-backed securities | 3,182,642 | 3,166,373 | |||||||||||||||||||||||
Total securities available for sale | $ | 6,757,016 | $ | 6,759,803 | |||||||||||||||||||||
Securities may be disposed of before contractual maturities due to sales by the Company or because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
For the nine months ended September 30, 2014, proceeds from the sales of securities available for sale were $410.6 million compared to $678.5 million for the same period in 2013. Securities transactions resulted in gross realized gains of $4.1 million and $8.8 million for the nine months ended September 30, 2014 and 2013. The gross realized losses for the nine months ended September 30, 2014 and 2013 were $11 thousand and $220 thousand, respectively. | |||||||||||||||||||||||||
Securities available for sale with a market value of $5.1 billion at September 30, 2014, and $5.9 billion at December 31, 2013, were pledged to secure U.S. Government deposits, other public deposits, certain trust deposits as required by law, and other potential borrowings. Of this amount, securities with a market value of $1.4 billion at September 30, 2014 and $1.7 billion at December 31, 2013 were pledged at the Federal Reserve Discount Window but were unencumbered as of those dates. | |||||||||||||||||||||||||
The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
U.S. Treasury | $ | 215,360 | $ | (404 | ) | $ | 29,471 | $ | (501 | ) | $ | 244,831 | $ | (905 | ) | ||||||||||
U.S. Agencies | 407,420 | (604 | ) | 117,295 | (1,249 | ) | 524,715 | (1,853 | ) | ||||||||||||||||
Mortgage-backed | 1,474,931 | (23,122 | ) | 533,596 | (16,543 | ) | 2,008,527 | (39,665 | ) | ||||||||||||||||
State and political subdivisions | 177,480 | (410 | ) | 294,762 | (5,464 | ) | 472,242 | (5,874 | ) | ||||||||||||||||
Corporates | 42,072 | (246 | ) | 86,349 | (962 | ) | 128,421 | (1,208 | ) | ||||||||||||||||
Total temporarily-impaired debt securities available for sale | $ | 2,317,263 | $ | (24,786 | ) | $ | 1,061,473 | $ | (24,719 | ) | $ | 3,378,736 | $ | (49,505 | ) | ||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
U.S. Treasury | $ | 39,822 | $ | (873 | ) | $ | — | $ | — | $ | 39,822 | $ | (873 | ) | |||||||||||
U.S. Agencies | 675,509 | (3,130 | ) | 9,824 | (176 | ) | 685,333 | (3,306 | ) | ||||||||||||||||
Mortgage-backed | 1,945,964 | (60,719 | ) | 89,147 | (3,620 | ) | 2,035,111 | (64,339 | ) | ||||||||||||||||
State and political subdivisions | 662,225 | (25,064 | ) | 87,061 | (6,692 | ) | 749,286 | (31,756 | ) | ||||||||||||||||
Corporates | 271,834 | (2,458 | ) | 41,522 | (983 | ) | 313,356 | (3,441 | ) | ||||||||||||||||
Total temporarily-impaired debt securities available for sale | $ | 3,595,354 | $ | (92,244 | ) | $ | 227,554 | $ | (11,471 | ) | $ | 3,822,908 | $ | (103,715 | ) | ||||||||||
The unrealized losses in the Company’s investments in U.S. treasury obligations, U.S. agencies, federal agency mortgage-backed securities, municipal securities, and corporates were caused by changes in interest rates. The Company does not have the intent to sell these securities and does not believe it is more likely than not that the Company will be required to sell these securities before a recovery of amortized cost. The Company expects to recover its cost basis in the securities and does not consider these investments to be other-than-temporarily impaired at September 30, 2014. | |||||||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
The table below provides detailed information for securities held to maturity at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
State and political subdivisions | $ | 237,961 | $ | 32,329 | $ | — | $ | 270,290 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
State and political subdivisions | $ | 209,770 | $ | 21,740 | $ | — | $ | 231,510 | |||||||||||||||||
The following table presents contractual maturity information for securities held to maturity at September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in 1 year or less | $ | 46 | $ | 52 | |||||||||||||||||||||
Due after 1 year through 5 years | 26,650 | 30,271 | |||||||||||||||||||||||
Due after 5 years through 10 years | 132,268 | 150,238 | |||||||||||||||||||||||
Due after 10 years | 78,997 | 89,729 | |||||||||||||||||||||||
Total securities held to maturity | $ | 237,961 | $ | 270,290 | |||||||||||||||||||||
Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
There were no sales of securities held to maturity during the first nine months of 2014 or 2013. | |||||||||||||||||||||||||
Trading Securities | |||||||||||||||||||||||||
The net unrealized gains on trading securities at September 30, 2014 and September 30, 2013 were $38.9 thousand and $14.0 thousand, respectively, and were included in trading and investment banking income on the consolidated statements of income. | |||||||||||||||||||||||||
Federal Reserve Bank Stock and Other Securities | |||||||||||||||||||||||||
The table below provides detailed information for Federal Reserve Bank stock and other securities at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Federal Reserve Bank stock | $ | 16,279 | $ | — | $ | — | $ | 16,279 | |||||||||||||||||
Other securities – marketable | — | 19,472 | — | 19,472 | |||||||||||||||||||||
Other securities – non-marketable | 29,839 | 5,602 | — | 35,441 | |||||||||||||||||||||
Total Federal Reserve Bank stock and other | $ | 46,118 | $ | 25,074 | $ | — | $ | 71,192 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Federal Reserve Bank stock | $ | 16,279 | $ | — | $ | — | $ | 16,279 | |||||||||||||||||
Other securities – marketable | 20 | 16,612 | — | 16,632 | |||||||||||||||||||||
Other securities – non-marketable | 17,139 | 432 | — | 17,571 | |||||||||||||||||||||
Total Federal Reserve Bank stock and other | $ | 33,438 | $ | 17,044 | $ | — | $ | 50,482 | |||||||||||||||||
Federal Reserve Bank stock is based on the capital structure of the investing bank and is carried at cost. Other marketable and non-marketable securities include Prairie Capital Management alternative investments in hedge funds and private equity funds, which are accounted for as equity-method investments. The fair value of other marketable securities includes alternative investment securities of $19.5 million at September 30, 2014 and $16.6 million at December 31, 2013. The fair value of other non-marketable securities includes alternative investment securities of $10.2 million at September 30, 2014 and $4.7 million at December 31, 2013. Unrealized gains or losses on alternative investments are recognized in the Equity Earnings on Alternative Investments line of the Company’s Consolidated Statements of Income. |
Goodwill_and_Other_Intangibles
Goodwill and Other Intangibles | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Other Intangibles | ' | ||||||||||||||||
6. Goodwill and Other Intangibles | |||||||||||||||||
Changes in the carrying amount of goodwill for the periods ended September 30, 2014 and December 31, 2013 by reportable segment are as follows (in thousands): | |||||||||||||||||
Bank | Institutional | Asset | Total | ||||||||||||||
Investment | Servicing | ||||||||||||||||
Management | |||||||||||||||||
Balances as of January 1, 2013 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Balances as of December 31, 2013 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Balances as of January 1, 2014 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Balances as of September 30, 2014 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Following are the finite-lived intangible assets that continue to be subject to amortization as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
September 30, 2014 | |||||||||||||||||
Core deposit intangible assets | $ | 36,497 | $ | 32,484 | $ | 4,013 | |||||||||||
Customer relationships | 104,560 | 62,299 | 42,261 | ||||||||||||||
Other intangible assets | 3,247 | 2,555 | 692 | ||||||||||||||
Total intangible assets | $ | 144,304 | $ | 97,338 | $ | 46,966 | |||||||||||
December 31, 2013 | |||||||||||||||||
Core deposit intangible assets | $ | 36,497 | $ | 31,674 | $ | 4,823 | |||||||||||
Customer relationships | 103,960 | 54,062 | 49,898 | ||||||||||||||
Other intangible assets | 3,247 | 2,383 | 864 | ||||||||||||||
Total intangible assets | $ | 143,704 | $ | 88,119 | $ | 55,585 | |||||||||||
Following is the aggregate amortization expense recognized in each period (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Aggregate amortization expense | $3,043 | $3,245 | $ | 9,219 | $ | 10,054 | |||||||||||
Estimated amortization expense of intangible assets on future years (in thousands): | |||||||||||||||||
For the three months ending December 31, 2014 | $ | 2,974 | |||||||||||||||
For the year ending December 31, 2015 | 9,636 | ||||||||||||||||
For the year ending December 31, 2016 | 8,428 | ||||||||||||||||
For the year ending December 31, 2017 | 7,185 | ||||||||||||||||
For the year ending December 31, 2018 | 4,994 | ||||||||||||||||
For the year ending December 31, 2019 | 4,204 |
Commitments_Contingencies_and_
Commitments, Contingencies and Guarantees | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments, Contingencies and Guarantees | ' | ||||||||
7. Commitments, Contingencies and Guarantees | |||||||||
In the normal course of business, the Company is party to financial instruments with off-balance-sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit, commercial letters of credit, standby letters of credit, futures contracts, forward foreign exchange contracts and spot foreign exchange contracts. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheet. The contract or notional amount of those instruments reflects the extent of involvement the Company has in particular classes of financial instruments. Many of the commitments expire without being drawn upon, therefore, the total amount of these commitments does not necessarily represent the future cash requirements of the Company. | |||||||||
The Company’s exposure to credit loss in the event of nonperformance by the counterparty to the financial instruments for commitments to extend credit, commercial letters of credit, and standby letters of credit is represented by the contract or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. | |||||||||
The following table summarizes the Company’s off-balance sheet financial instruments. | |||||||||
Contract or Notional Amount (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commitments to extend credit for loans (excluding credit card loans) | $ | 3,167,398 | $ | 2,690,268 | |||||
Commitments to extend credit under credit card loans | 2,384,213 | 2,215,278 | |||||||
Commercial letters of credit | 1,415 | 5,949 | |||||||
Standby letters of credit | 374,109 | 356,054 | |||||||
Forward foreign exchange contracts | 66,939 | 21,525 | |||||||
Spot foreign exchange contracts | 1,425 | 8,001 |
Business_Segment_Reporting
Business Segment Reporting | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Business Segment Reporting | ' | ||||||||||||||||||||
8. Business Segment Reporting | |||||||||||||||||||||
The Company has strategically aligned its operations into the following four reportable segments (collectively, Business Segments): Bank, Payment Solutions, Institutional Investment Management, and Asset Servicing. Business segment financial results produced by the Company’s internal management reporting system are evaluated regularly by senior executive officers in deciding how to allocate resources and assess performance for individual Business Segments. The management reporting system assigns balance sheet and income statement items to each business segment using methodologies that are refined on an ongoing basis. For comparability purposes, amounts in all periods presented are based on methodologies in effect at September 30, 2014. Previously reported results have been reclassified to conform to the current organizational structure. | |||||||||||||||||||||
The following summaries provide information about the activities of each segment: | |||||||||||||||||||||
The Bank provides a full range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, internet banking, and ATM network. Services include traditional commercial and consumer banking, treasury management, leasing, foreign exchange, merchant bankcard, wealth management, brokerage, insurance, capital markets, investment banking, corporate trust, and correspondent banking. | |||||||||||||||||||||
Payment Solutions provides consumer and commercial credit and debit card, prepaid debit card solutions, healthcare services, and institutional cash management. Healthcare services include health savings account and flexible savings account products for healthcare providers, third-party administrators and large employers. | |||||||||||||||||||||
Institutional Investment Management provides equity and fixed income investment strategies in the intermediary and institutional markets via mutual funds, traditional separate accounts and sub-advisory relationships. | |||||||||||||||||||||
Asset Servicing provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts. Services include fund administration, fund accounting, investor services, transfer agency, distribution, marketing, custody, alternative investment services, and collective and multiple-series trust services. | |||||||||||||||||||||
Business Segment Information | |||||||||||||||||||||
Segment financial results were as follows (in thousands): | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 72,906 | $ | 13,442 | $ | — | $ | 1,178 | $ | 87,526 | |||||||||||
Provision for loan losses | 2,446 | 2,054 | — | — | 4,500 | ||||||||||||||||
Noninterest income | 48,385 | 21,579 | 33,919 | 22,592 | 126,475 | ||||||||||||||||
Noninterest expense | 99,307 | 22,056 | 20,910 | 19,188 | 161,461 | ||||||||||||||||
Income before taxes | 19,538 | 10,911 | 13,009 | 4,582 | 48,040 | ||||||||||||||||
Income tax expense | 5,081 | 2,795 | 3,350 | 1,184 | 12,410 | ||||||||||||||||
Net income | $ | 14,457 | $ | 8,116 | $ | 9,659 | $ | 3,398 | $ | 35,630 | |||||||||||
Average assets | $ | 11,639,000 | $ | 2,823,000 | $ | 74,000 | $ | 1,102,000 | $ | 15,638,000 | |||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 73,419 | $ | 11,587 | $ | (11 | ) | $ | 550 | $ | 85,545 | ||||||||||
Provision for loan losses | 1,833 | 4,667 | — | — | 6,500 | ||||||||||||||||
Noninterest income | 48,945 | 18,409 | 33,842 | 20,429 | 121,625 | ||||||||||||||||
Noninterest expense | 93,150 | 21,658 | 21,054 | 17,201 | 153,063 | ||||||||||||||||
Income before taxes | 27,381 | 3,671 | 12,777 | 3,778 | 47,607 | ||||||||||||||||
Income tax expense | 6,922 | 1,283 | 3,506 | 1,464 | 13,175 | ||||||||||||||||
Net income | $ | 20,459 | $ | 2,388 | $ | 9,271 | $ | 2,314 | $ | 34,432 | |||||||||||
Average assets | $ | 11,128,000 | $ | 1,727,000 | $ | 76,000 | $ | 1,993,000 | $ | 14,924,000 | |||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 216,508 | $ | 38,220 | $ | (3 | ) | $ | 4,416 | $ | 259,141 | ||||||||||
Provision for loan losses | 7,558 | 6,442 | — | — | 14,000 | ||||||||||||||||
Noninterest income | 151,843 | 62,998 | 102,014 | 66,585 | 383,440 | ||||||||||||||||
Noninterest expense | 308,013 | 67,680 | 68,848 | 55,672 | 500,213 | ||||||||||||||||
Income before taxes | 52,780 | 27,096 | 33,163 | 15,329 | 128,368 | ||||||||||||||||
Income tax expense | 14,326 | 7,272 | 8,887 | 4,168 | 34,653 | ||||||||||||||||
Net income | $ | 38,454 | $ | 19,824 | $ | 24,276 | $ | 11,161 | $ | 93,715 | |||||||||||
Average assets | $ | 11,914,000 | $ | 2,350,000 | $ | 74,000 | $ | 1,583,000 | $ | 15,921,000 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 211,238 | $ | 34,327 | $ | (22 | ) | $ | 1,812 | $ | 247,355 | ||||||||||
Provision for loan losses | 3,770 | 9,730 | — | — | 13,500 | ||||||||||||||||
Noninterest income | 148,129 | 56,486 | 91,550 | 60,061 | 356,226 | ||||||||||||||||
Noninterest expense | 277,226 | 63,626 | 58,754 | 54,146 | 453,752 | ||||||||||||||||
Income before taxes | 78,371 | 17,457 | 32,774 | 7,727 | 136,329 | ||||||||||||||||
Income tax expense | 19,629 | 5,464 | 8,880 | 3,054 | 37,027 | ||||||||||||||||
Net income | $ | 58,742 | $ | 11,993 | $ | 23,894 | $ | 4,673 | $ | 99,302 | |||||||||||
Average assets | $ | 11,145,000 | $ | 1,770,000 | $ | 79,000 | $ | 1,867,000 | $ | 14,861,000 |
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Derivatives and Hedging Activities | ' | ||||||||||||||||
9. Derivatives and Hedging Activities | |||||||||||||||||
Risk Management Objective of Using Derivatives | |||||||||||||||||
The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain fixed rate assets. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk of the Company’s assets or liabilities. The Company has entered into an offsetting position for each of these derivative instruments with a matching instrument from another financial institution in order to minimize its net risk exposure resulting from such transactions. | |||||||||||||||||
Fair Values of Derivative Instruments on the Balance Sheet | |||||||||||||||||
The table below presents the fair value of the Company’s derivative financial instruments as of September 30, 2014 and December 31, 2013. The Company’s derivative asset and derivative liability are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheets. | |||||||||||||||||
This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Fair value | |||||||||||||||||
Interest Rate Products: | |||||||||||||||||
Derivatives not designated as hedging instruments | $ | 4,548 | $ | 2,442 | $ | 4,637 | $ | 2,346 | |||||||||
Derivatives designated as hedging instruments | — | 76 | 141 | — | |||||||||||||
Total | $ | 4,548 | $ | 2,518 | $ | 4,778 | $ | 2,346 | |||||||||
Fair Value Hedges of Interest Rate Risk | |||||||||||||||||
The Company is exposed to changes in the fair value of certain of its fixed-rate assets due to changes in the benchmark interest rate, London Interbank Offered Rate (LIBOR). Interest rate swaps designated as fair value hedges involve making fixed-rate payments to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. As of September 30, 2014, the Company had one interest rate swap with a notional amount of $6.7 million that was designated as a fair value hedge of interest rate risk associated with the Company’s fixed rate loan assets. | |||||||||||||||||
Designated Hedges | |||||||||||||||||
For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged items in the same line item as the offsetting loss or gain on the related derivatives. During the three and nine months ended September 30, 2014, the Company recognized net losses of $1 thousand and $19 thousand, respectively, in Other noninterest expense related to hedge ineffectiveness. | |||||||||||||||||
Non-designated Hedges | |||||||||||||||||
The remainder of the Company’s derivatives are not designated in qualifying hedging relationships. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously offset by interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of September 30, 2014, the Company had 28 interest rate swaps with an aggregate notional amount of $343.3 million related to this program. During the three and nine months ended September 30, 2014, the Company recognized $133 thousand and $185 thousand of net losses, respectively, related to changes in fair value of these swaps. During the three and nine months ended September 30, 2013, the Company recognized $40 thousand of net losses and $114 thousand of net gains, respectively, related to changes in the fair value of these swaps in Other noninterest expense. | |||||||||||||||||
Effect of Derivative Instruments on the Income Statement | |||||||||||||||||
This table provides a summary of the amount of gain (loss) recognized in Other non-interest expense in the Consolidated Statements of Income related to the Company’s derivative asset and liability for the three and nine months ended September 30, 2014 and September 30, 2013 (in thousands): | |||||||||||||||||
Amount of Gain (Loss) Recognized | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Interest Rate Products | |||||||||||||||||
Derivatives not designated as hedging instruments | $ | (133 | ) | $ | (40 | ) | $ | (185 | ) | $ | 114 | ||||||
Total | $ | (133 | ) | $ | (40 | ) | $ | (185 | ) | $ | 114 | ||||||
Interest Rate Products | |||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||
Fair value adjustments on derivatives | $ | 19 | $ | — | $ | (216 | ) | $ | — | ||||||||
Fair value adjustments on hedged items | (20 | ) | — | 197 | — | ||||||||||||
Total | $ | (1 | ) | $ | — | $ | (19 | ) | $ | — | |||||||
Credit-risk-related Contingent Features | |||||||||||||||||
The Company has agreements with certain of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. | |||||||||||||||||
As of September 30, 2014 the termination value of derivatives in a net liability position, which includes accrued interest, related to these agreements was $24 thousand. The Company has minimum collateral posting thresholds with certain of its derivative counterparties and has not yet reached its minimum collateral posting threshold under these agreements. If the Company had breached any of these provisions at September 30, 2014, it could have been required to settle its obligations under the agreements at the termination value. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||
10. Fair Value Measurements | |||||||||||||||||||||
The following table presents information about the Company’s assets measured at fair value on a recurring basis as of September 30, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. | |||||||||||||||||||||
Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets and liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the hierarchy. In such cases, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. | |||||||||||||||||||||
Assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||
Fair Value Measurement at September 30, 2014 | |||||||||||||||||||||
Description | September 30, | Quoted | Significant | Significant | |||||||||||||||||
2014 | Prices in | Other | Unobservable | ||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
U.S. Treasury | $ | 500 | $ | 500 | $ | — | $ | — | |||||||||||||
U.S. Agencies | — | — | — | — | |||||||||||||||||
Mortgage-backed | 3,922 | — | 3,922 | — | |||||||||||||||||
State and political subdivisions | 8,988 | — | 8,988 | — | |||||||||||||||||
Trading - other | 18,380 | 18,380 | — | — | |||||||||||||||||
Trading securities | 31,790 | 18,880 | 12,910 | — | |||||||||||||||||
U.S. Treasury | 510,217 | 510,217 | — | — | |||||||||||||||||
U.S. Agencies | 985,423 | — | 985,423 | — | |||||||||||||||||
Mortgage-backed | 3,166,373 | — | 3,166,373 | — | |||||||||||||||||
State and political subdivisions | 1,965,681 | — | 1,965,681 | — | |||||||||||||||||
Corporates | 132,109 | 132,109 | — | — | |||||||||||||||||
Available for sale securities | 6,759,803 | 642,326 | 6,117,477 | — | |||||||||||||||||
Company-owned life insurance | 26,748 | — | 26,748 | — | |||||||||||||||||
Derivatives | 4,548 | — | 4,548 | — | |||||||||||||||||
Total | $ | 6,822,889 | $ | 661,206 | $ | 6,161,683 | $ | — | |||||||||||||
Liabilities | |||||||||||||||||||||
Deferred compensation | $ | 26,188 | $ | 26,188 | $ | — | $ | — | |||||||||||||
Contingent consideration liability | 54,259 | — | — | 54,259 | |||||||||||||||||
Derivatives | 4,778 | — | 4,778 | — | |||||||||||||||||
Total | $ | 85,225 | $ | 26,188 | $ | 4,778 | $ | 54,259 | |||||||||||||
Fair Value Measurement at December 31, 2013 | |||||||||||||||||||||
Description | December 31, | Quoted Prices | Significant | Significant | |||||||||||||||||
2013 | in Active | Other | Unobservable | ||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
U.S. Treasury | $ | 400 | $ | 400 | $ | — | $ | — | |||||||||||||
U.S. Agencies | — | — | — | — | |||||||||||||||||
Mortgage-backed | 515 | — | 515 | — | |||||||||||||||||
State and political subdivisions | 3,072 | — | 3,072 | — | |||||||||||||||||
Trading - other | 24,477 | 24,477 | — | — | |||||||||||||||||
Trading securities | 28,464 | 24,877 | 3,587 | — | |||||||||||||||||
U.S. Treasury | 110,200 | 110,200 | — | — | |||||||||||||||||
U.S. Agencies | 1,257,663 | — | 1,257,663 | — | |||||||||||||||||
Mortgage-backed | 2,944,566 | — | 2,944,566 | — | |||||||||||||||||
State and political subdivisions | 1,995,246 | — | 1,995,246 | — | |||||||||||||||||
Corporates | 454,736 | 454,736 | — | — | |||||||||||||||||
Available for sale securities | 6,762,411 | 564,936 | 6,197,475 | — | |||||||||||||||||
Company-owned life insurance | 19,619 | — | 19,619 | — | |||||||||||||||||
Derivatives | 2,518 | — | 2,518 | — | |||||||||||||||||
Total | $ | 6,813,012 | $ | 589,813 | $ | 6,223,199 | $ | — | |||||||||||||
Liabilities | |||||||||||||||||||||
Deferred compensation | $ | 19,825 | $ | 19,825 | $ | — | $ | — | |||||||||||||
Contingent consideration liability | 46,201 | — | — | 46,201 | |||||||||||||||||
Derivatives | 2,346 | — | 2,346 | — | |||||||||||||||||
Total | $ | 68,372 | $ | 19,825 | $ | 2,346 | $ | 46,201 | |||||||||||||
The following table reconciles the beginning and ending balances of the contingent consideration liability for the nine months ended September 30, 2014 (in thousands): | |||||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Beginning Balance | $ | 46,201 | $ | 51,163 | |||||||||||||||||
Contingency reserve | 14,272 | — | |||||||||||||||||||
Payment of contingent considerations on acquisitions | (13,725 | ) | (16,172 | ) | |||||||||||||||||
Income from fair value adjustments | — | (138 | ) | ||||||||||||||||||
Expense from fair value adjustments | 7,511 | 4,462 | |||||||||||||||||||
Ending Balance | $ | 54,259 | $ | 39,315 | |||||||||||||||||
During the nine month period ended September 30, 2014, the Company recorded contingency reserve expense of $20.3 million in its Consolidated Statement of Income related to the resolution of the PCM dispute. On June 30, 2014, the Company made a payment of $6.0 million, reducing the remaining contingency reserve to $14.3 million. The settlement agreement amends the original asset purchase agreement dated June 27, 2010, and subsequent to the settlement, the remaining contingency reserve liability has been included in the table above as additional contingent consideration recorded at fair value. Fair value adjustments made subsequent to settlement are included in the table above as Expense from fair value adjustments. | |||||||||||||||||||||
The following table presents certain quantitative information about the significant unobservable input used in the fair value measurement for the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3): | |||||||||||||||||||||
Description | Valuation Techniques | Significant | Range | ||||||||||||||||||
Unobservable Inputs | |||||||||||||||||||||
Liabilities | |||||||||||||||||||||
Contingent consideration liability | Discounted cash flows | Revenue growth percentage | 1% - 98 | % | |||||||||||||||||
An increase in the revenue growth percentage may result in a significantly higher estimated fair value of the contingent consideration liability. Alternatively, a decrease in the revenue growth percentage may result in a significantly lower estimated fair value of the contingent consideration liability. | |||||||||||||||||||||
Valuation methods for instruments measured at fair value on a recurring basis | |||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a recurring basis: | |||||||||||||||||||||
Securities Available for Sale and Investment Securities Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price or dealer quote is not available, fair value is estimated using quoted market prices for similar securities. | |||||||||||||||||||||
Trading Securities Fair values for trading securities (including financial futures), are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices for similar securities. | |||||||||||||||||||||
Company-owned Life Insurance Fair values are based on quoted market prices or dealer quotes with adjustments for dividends, capital gains, and administrative charges. | |||||||||||||||||||||
Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. | |||||||||||||||||||||
Deferred Compensation Fair values are based on quoted market prices or dealer quotes. | |||||||||||||||||||||
Contingent Consideration The fair value of contingent consideration liabilities are derived from a discounted cash flow model of future contingent payments. The valuation of these liabilities are estimated by a collaborative effort of the Company’s mergers and acquisitions group, business unit management, and the corporate accounting group. These groups report primarily to the Company’s Chief Financial Officer and Chief Executive Officer. These future contingent payments are calculated based on estimates of future income and expense from each acquisition. These estimated cash flows are projected by the business unit management and reviewed by the mergers and acquisitions group. To obtain a current valuation of these projected cash flows, an expected present value technique is utilized to calculate a discount rate. The cash flow projections and discount rates are reviewed quarterly and updated as market conditions necessitate. Potential valuation adjustments are made as future income and expense projections for each acquisition are made which affect the calculation of the related contingent consideration payment. These adjustments are recorded through noninterest income and expense. | |||||||||||||||||||||
Assets measured at fair value on a non-recurring basis as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||
Fair Value Measurement at September 30, 2014 | |||||||||||||||||||||
Description | September 30, | Quoted Prices | Significant | Significant | Total | ||||||||||||||||
2014 | in Active | Other | Unobservable | Gains | |||||||||||||||||
Markets for | Observable | Inputs | (Losses) | ||||||||||||||||||
Identical | Inputs | (Level 3) | Recognized | ||||||||||||||||||
Assets | (Level 2) | During the Nine | |||||||||||||||||||
(Level 1) | Months Ended | ||||||||||||||||||||
September 30 | |||||||||||||||||||||
Impaired loans | $ | 13,621 | $ | $ | $ | 13,621 | $ | 632 | |||||||||||||
Other real estate owned | 138 | — | — | 138 | $ | — | |||||||||||||||
Total | $ | 13,759 | $ | $ | $ | 13,759 | $ | 632 | |||||||||||||
Fair Value Measurement at December 31, 2013 | |||||||||||||||||||||
Description | December 31, | Quoted Prices | Significant | Significant | Total | ||||||||||||||||
2013 | in Active | Other | Unobservable | Gains | |||||||||||||||||
Markets for | Observable | Inputs | (Losses) | ||||||||||||||||||
Identical | Inputs | (Level 3) | Recognized | ||||||||||||||||||
Assets | (Level 2) | During the | |||||||||||||||||||
(Level 1) | Twelve Months | ||||||||||||||||||||
Ended | |||||||||||||||||||||
December 31 | |||||||||||||||||||||
Impaired loans | $ | 15,496 | $ | — | $ | — | $ | 15,496 | $ | (2,496 | ) | ||||||||||
Other real estate owned | 329 | — | — | 329 | (125 | ) | |||||||||||||||
Total | $ | 15,825 | $ | — | $ | — | $ | 15,825 | $ | (2,621 | ) | ||||||||||
Valuation methods for instruments measured at fair value on a nonrecurring basis | |||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a non-recurring basis: | |||||||||||||||||||||
Impaired loans While the overall loan portfolio is not carried at fair value, adjustments are recorded on certain loans to reflect write-downs that are based on the external appraisal value of the underlying collateral. The external appraisals are generally based on recent sales of comparable properties which are then adjusted for the unique characteristics of the property being valued. In the case of non-real estate collateral, reliance is placed on a variety of sources, including external estimates of value and judgments based on the experience and expertise of internal specialists within the Company’s property management group and the Company’s credit department. The valuation of the impaired loans is reviewed on a quarterly basis. Because many of these inputs are not observable, the measurements are classified as Level 3. | |||||||||||||||||||||
Other real estate owned Other real estate owned consists of loan collateral which has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate and other non-real estate property, including auto, recreational and marine vehicles. Other real estate owned is recorded as held for sale initially at the lower of the loan balance or fair value of the collateral. The initial valuation of the foreclosed property is obtained through an appraisal process similar to the process described in the impaired loans paragraph above. Subsequent to foreclosure, valuations are reviewed quarterly and updated periodically, and the assets may be marked down further, reflecting a new cost basis. Fair value measurements may be based upon appraisals, third-party price opinions, or internally developed pricing methods and those measurements are classified as Level 3. | |||||||||||||||||||||
Fair value disclosures require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The estimated fair value of the Company’s financial instruments at September 30, 2014 and December 31, 2013 are as follows (in millions): | |||||||||||||||||||||
Fair Value Measurement at September 30, 2014 | |||||||||||||||||||||
Carrying | Quoted Prices | Significant | Significant | Total | |||||||||||||||||
Amount | in Active | Other | Unobservable | Estimated | |||||||||||||||||
Markets for | Observable | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Securities held to maturity | $ | 238 | $ | — | $ | 270.3 | $ | — | $ | 270.3 | |||||||||||
Federal Reserve Bank and other | 71.2 | — | 71.2 | — | 71.2 | ||||||||||||||||
Loans (exclusive of allowance for loan loss) | 7,104.90 | — | 7,136.30 | — | 7,136.30 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Time deposits | 961.1 | — | 960.7 | — | 960.7 | ||||||||||||||||
Long-term debt | 7.1 | — | 7.3 | — | 7.3 | ||||||||||||||||
OFF-BALANCE SHEET ARRANGEMENTS | |||||||||||||||||||||
Commitments to extend credit for loans | 4.3 | ||||||||||||||||||||
Commercial letters of credit | 0.1 | ||||||||||||||||||||
Standby letters of credit | 1.8 | ||||||||||||||||||||
Fair Value Measurement at December 31, 2013 | |||||||||||||||||||||
Carrying | Quoted Prices | Significant | Significant | Total | |||||||||||||||||
Amount | in Active | Other | Unobservable | Estimated | |||||||||||||||||
Markets for | Observable | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Securities held to maturity | $ | 209.8 | $ | — | $ | 231.5 | $ | — | $ | 231.5 | |||||||||||
Federal Reserve Bank and other | 50.5 | — | 50.5 | — | 50.5 | ||||||||||||||||
Loans (exclusive of allowance for loan loss) | 6,521.90 | — | 6,571.60 | — | 6,571.60 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Time deposits | 1,449.60 | — | 1,449.40 | — | 1,449.40 | ||||||||||||||||
Long-term debt | 5.1 | — | 4.5 | — | 4.5 | ||||||||||||||||
OFF-BALANCE SHEET ARRANGEMENTS | |||||||||||||||||||||
Commitments to extend credit for loans | 6 | ||||||||||||||||||||
Commercial letters of credit | 0.1 | ||||||||||||||||||||
Standby letters of credit | 2 | ||||||||||||||||||||
The fair values of cash and short-term investments, demand and savings deposits, federal funds and repurchase agreements, and short-term debt approximate the carrying values. | |||||||||||||||||||||
Securities Held to Maturity Fair value of held-to-maturity securities are estimated by discounting the future cash flows using the current rates at which similar investments would be made to borrowers with similar credit ratings and for the same remaining maturities. | |||||||||||||||||||||
Federal Reserve Bank and Other Amount consists of Federal Reserve Bank stock held by the Bank, Prairie Capital Management equity-method investments, and other miscellaneous investments. The fair value of Federal Reserve Bank stock is considered to be the carrying value as no readily determinable market exists for these investments because they can only be redeemed with the FRB. The fair value of Prairie Capital Management marketable equity-method investments are based on quoted market prices used to estimate the value of the underlying investment. For non-marketable equity-method investments, the Company’s proportionate share of the income or loss is recognized on a one-quarter lag based on the valuation of the underlying investments. | |||||||||||||||||||||
Loans Fair values are estimated for portfolios with similar financial characteristics. Loans are segregated by type, such as commercial, real estate, consumer, and credit card. Each loan category is further segmented into fixed and variable interest rate categories. The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. | |||||||||||||||||||||
Time Deposits The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates that are currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
Long-Term Debt Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate fair value of existing debt. | |||||||||||||||||||||
Other Off-Balance Sheet Instruments The fair value of loan commitments and letters of credit are determined based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and the present creditworthiness of the counterparties. Neither the fees earned during the year on these instruments nor their fair value at year-end are significant to the Company’s consolidated financial position. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Nature of Operations | ' | ||||||||
The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in the states of Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is listed in the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013. | |||||||||
Cash and Cash Equivalents | ' | ||||||||
Cash and cash equivalents | |||||||||
Cash and cash equivalents include Cash and due from banks and amounts due from the Federal Reserve Bank. Amounts due from the Federal Reserve Bank are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets. | |||||||||
This table provides a summary of cash and cash equivalents as presented on the Consolidated Statement of Cash Flows as of September 30, 2014 and September 30, 2013 (in thousands): | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Due from the Federal Reserve | $ | 824,264 | $ | 1,335,590 | |||||
Cash and due from banks | 395,956 | 604,592 | |||||||
Cash and cash equivalents at end of period | $ | 1,220,220 | $ | 1,940,182 | |||||
Also included in the Interest-bearing due from banks line, but not considered cash and cash equivalents are amounts due from certificates of deposits held at other financial institutions. The amounts due from certificates of deposit totaled $157.3 million and $22.3 million at September 30, 2014 and September 30, 2013, respectively. | |||||||||
Per Share Data | ' | ||||||||
Per Share Data | |||||||||
Basic income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarterly per share data includes the dilutive effect of 551,674 and 650,028 shares issuable upon the exercise of options granted by the Company and outstanding at September 30, 2014 and 2013, respectively. Diluted year-to-date income per share includes the dilutive effect of 601,260 and 544,930 shares issuable upon the exercise of stock options granted by the Company and outstanding at September 30, 2014 and 2013, respectively. | |||||||||
Options issued under employee benefits plans to purchase 250,911 shares of common stock were outstanding at September 30, 2014, but were not included in the computation of quarter-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefit plans to purchase 250,911 and 270,839 shares of common stock were outstanding at September 30, 2014 and 2013, respectively, but were not included in the computation of year-to-date diluted EPS because the options were anti-dilutive. | |||||||||
Common Stock Issuance | ' | ||||||||
Common Stock Issuance | |||||||||
On September 16, 2013, the Company completed the issuance of 3.9 million shares of common stock with net proceeds of $201.2 million to be used for strategic growth purposes. In addition, UMB granted the underwriters a 30-day option to purchase up to an additional 585,000 shares of common stock. On October 17, 2013, the underwriters exercised the option of 585,000 shares, which generated additional net proceeds of $30.2 million. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Summary of Cash and Cash Equivalents | ' | ||||||||
This table provides a summary of cash and cash equivalents as presented on the Consolidated Statement of Cash Flows as of September 30, 2014 and September 30, 2013 (in thousands): | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Due from the Federal Reserve | $ | 824,264 | $ | 1,335,590 | |||||
Cash and due from banks | 395,956 | 604,592 | |||||||
Cash and cash equivalents at end of period | $ | 1,220,220 | $ | 1,940,182 | |||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Summary of Loan Classes and Aging of Past Due Loans | ' | ||||||||||||||||||||||||
This table provides a summary of loan classes and an aging of past due loans at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
30-89 | Greater | Non- | Total | Current | Total Loans | ||||||||||||||||||||
Days Past | than 90 | Accrual | Past | ||||||||||||||||||||||
Due and | Days Past | Loans | Due | ||||||||||||||||||||||
Accruing | Due and | ||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 1,376 | $ | 199 | $ | 15,075 | $ | 16,650 | $ | 3,522,624 | $ | 3,539,274 | |||||||||||||
Commercial – credit card | 293 | 75 | 44 | 412 | 129,612 | 130,024 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 2,380 | — | 948 | 3,328 | 242,477 | 245,805 | |||||||||||||||||||
Real estate – commercial | 3,050 | 2,038 | 15,267 | 20,355 | 1,786,570 | 1,806,925 | |||||||||||||||||||
Real estate – residential | 869 | 207 | 567 | 1,643 | 315,183 | 316,826 | |||||||||||||||||||
Real estate – HELOC | 157 | — | 115 | 272 | 629,224 | 629,496 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | 2,348 | 1,962 | 550 | 4,860 | 298,833 | 303,693 | |||||||||||||||||||
Consumer – other | 3,723 | 197 | 96 | 4,016 | 87,904 | 91,920 | |||||||||||||||||||
Leases | — | — | — | — | 39,200 | 39,200 | |||||||||||||||||||
Total loans | $ | 14,196 | $ | 4,678 | $ | 32,662 | $ | 51,536 | $ | 7,051,627 | $ | 7,103,163 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
30-89 | Greater | Non- | Total | Current | Total | ||||||||||||||||||||
Days Past | than 90 | Accrual | Past | Loans | |||||||||||||||||||||
Due and | Days Past | Loans | Due | ||||||||||||||||||||||
Accruing | Due and | ||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 2,107 | $ | 135 | $ | 8,042 | $ | 10,284 | $ | 3,291,219 | $ | 3,301,503 | |||||||||||||
Commercial – credit card | 362 | 82 | 38 | 482 | 102,788 | 103,270 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 186 | — | 934 | 1,120 | 151,755 | 152,875 | |||||||||||||||||||
Real estate – commercial | 3,611 | 344 | 19,213 | 23,168 | 1,678,983 | 1,702,151 | |||||||||||||||||||
Real estate – residential | 1,257 | 13 | 868 | 2,138 | 287,218 | 289,356 | |||||||||||||||||||
Real estate – HELOC | 880 | 6 | 210 | 1,096 | 565,032 | 566,128 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | 3,230 | 2,448 | 1,031 | 6,709 | 311,627 | 318,336 | |||||||||||||||||||
Consumer – other | 1,727 | 190 | 370 | 2,287 | 60,625 | 62,912 | |||||||||||||||||||
Leases | — | — | — | — | 23,981 | 23,981 | |||||||||||||||||||
Total loans | $ | 13,360 | $ | 3,218 | $ | 30,706 | $ | 47,284 | $ | 6,473,228 | $ | 6,520,512 | |||||||||||||
Credit Risk Profile by Risk Rating | ' | ||||||||||||||||||||||||
Credit Exposure | |||||||||||||||||||||||||
Credit Risk Profile by Risk Rating | |||||||||||||||||||||||||
Commercial | Real estate-construction | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Non-watch list | $ | 3,263,847 | $ | 3,041,224 | $ | 243,513 | $ | 151,359 | |||||||||||||||||
Watch | 61,424 | 110,932 | 186 | 210 | |||||||||||||||||||||
Special Mention | 87,947 | 78,064 | 758 | — | |||||||||||||||||||||
Substandard | 126,056 | 71,283 | 1,348 | 1,306 | |||||||||||||||||||||
Total | $ | 3,539,274 | $ | 3,301,503 | $ | 245,805 | $ | 152,875 | |||||||||||||||||
Real estate-commercial | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Non-watch list | $ | 1,689,958 | $ | 1,565,894 | |||||||||||||||||||||
Watch | 46,509 | 76,647 | |||||||||||||||||||||||
Special Mention | 24,677 | 19,876 | |||||||||||||||||||||||
Substandard | 45,781 | 39,734 | |||||||||||||||||||||||
Total | $ | 1,806,925 | $ | 1,702,151 | |||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | ' | ||||||||||||||||||||||||
Credit Exposure | |||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||
Commercial-credit card | Real estate-residential | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Performing | $ | 129,980 | $ | 103,232 | $ | 316,259 | $ | 288,488 | |||||||||||||||||
Non-performing | 44 | 38 | 567 | 868 | |||||||||||||||||||||
Total | $ | 130,024 | $ | 103,270 | $ | 316,826 | $ | 289,356 | |||||||||||||||||
Real estate-HELOC | Consumer-credit card | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Performing | $ | 629,381 | $ | 565,918 | $ | 303,143 | $ | 317,305 | |||||||||||||||||
Non-performing | 115 | 210 | 550 | 1,031 | |||||||||||||||||||||
Total | $ | 629,496 | $ | 566,128 | $ | 303,693 | $ | 318,336 | |||||||||||||||||
Consumer-other | Leases | ||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Performing | $ | 91,824 | $ | 62,542 | $ | 39,200 | $ | 23,981 | |||||||||||||||||
Non-performing | 96 | 370 | — | — | |||||||||||||||||||||
Total | $ | 91,920 | $ | 62,912 | $ | 39,200 | $ | 23,981 | |||||||||||||||||
Rollforward of Allowance for Loan Losses by Portfolio Segment | ' | ||||||||||||||||||||||||
This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 52,433 | $ | 14,217 | $ | 10,074 | $ | 78 | $ | 76,802 | |||||||||||||||
Charge-offs | (2,033 | ) | (57 | ) | (2,745 | ) | — | (4,835 | ) | ||||||||||||||||
Recoveries | 396 | 8 | 445 | — | 849 | ||||||||||||||||||||
Provision | 3,983 | (1,515 | ) | 1,964 | 68 | 4,500 | |||||||||||||||||||
Ending Balance | $ | 54,779 | $ | 12,653 | $ | 9,738 | $ | 146 | $ | 77,316 | |||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 48,886 | $ | 15,342 | $ | 10,447 | $ | 76 | $ | 74,751 | |||||||||||||||
Charge-offs | (4,980 | ) | (238 | ) | (8,881 | ) | — | (14,099 | ) | ||||||||||||||||
Recoveries | 664 | 25 | 1,975 | — | 2,664 | ||||||||||||||||||||
Provision | 10,209 | (2,476 | ) | 6,197 | 70 | 14,000 | |||||||||||||||||||
Ending Balance | $ | 54,779 | $ | 12,653 | $ | 9,738 | $ | 146 | $ | 77,316 | |||||||||||||||
Ending Balance: individually evaluated for impairment | $ | 2,252 | $ | 1,368 | $ | — | $ | — | $ | 3,620 | |||||||||||||||
Ending Balance: collectively evaluated for impairment | 52,527 | 11,285 | 9,738 | 146 | 73,696 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Ending Balance: loans | $ | 3,669,298 | $ | 2,999,052 | $ | 395,613 | $ | 39,200 | $ | 7,103,163 | |||||||||||||||
Ending Balance: individually evaluated for impairment | 19,176 | 13,467 | 17 | — | 32,660 | ||||||||||||||||||||
Ending Balance: collectively evaluated for impairment | 3,650,122 | 2,985,585 | 395,596 | 39,200 | 7,070,503 | ||||||||||||||||||||
This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2013 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 45,108 | $ | 16,296 | $ | 10,168 | $ | 75 | $ | 71,647 | |||||||||||||||
Charge-offs | (592 | ) | (162 | ) | (3,126 | ) | — | (3,880 | ) | ||||||||||||||||
Recoveries | 246 | 21 | 404 | — | 671 | ||||||||||||||||||||
Provision | 3,491 | 2 | 2,996 | 11 | 6,500 | ||||||||||||||||||||
Ending Balance | $ | 48,253 | $ | 16,157 | $ | 10,442 | $ | 86 | $ | 74,938 | |||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Commercial | Real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 43,390 | $ | 15,506 | $ | 12,470 | $ | 60 | $ | 71,426 | |||||||||||||||
Charge-offs | (3,015 | ) | (533 | ) | (9,265 | ) | — | (12,813 | ) | ||||||||||||||||
Recoveries | 761 | 37 | 2,027 | — | 2,825 | ||||||||||||||||||||
Provision | 7,117 | 1,147 | 5,210 | 26 | 13,500 | ||||||||||||||||||||
Ending Balance | $ | 48,253 | $ | 16,157 | $ | 10,442 | $ | 86 | $ | 74,938 | |||||||||||||||
Ending Balance: individually evaluated for impairment | $ | 3,301 | $ | 1,412 | $ | — | $ | — | $ | 4,713 | |||||||||||||||
Ending Balance: collectively evaluated for impairment | 44,952 | 14,745 | 10,442 | 86 | 70,225 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Ending Balance: loans | $ | 3,494,603 | $ | 2,604,956 | $ | 381,704 | $ | 25,639 | $ | 6,506,902 | |||||||||||||||
Ending Balance: individually evaluated for impairment | 14,835 | 15,852 | 30 | — | 30,717 | ||||||||||||||||||||
Ending Balance: collectively evaluated for impairment | 3,479,768 | 2,589,104 | 381,674 | 25,639 | 6,476,185 | ||||||||||||||||||||
Analysis of Impaired Loans | ' | ||||||||||||||||||||||||
This table provides an analysis of impaired loans by class at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||
Balance | with No | with | Investment | Investment | |||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 23,599 | $ | 8,710 | $ | 10,466 | $ | 19,176 | $ | 2,252 | $ | 15,762 | |||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 1,499 | 825 | 123 | 948 | 123 | 928 | |||||||||||||||||||
Real estate – commercial | 13,758 | 4,816 | 6,652 | 11,468 | 1,245 | 12,035 | |||||||||||||||||||
Real estate – residential | 1,224 | 1,051 | — | 1,051 | — | 1,030 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | 17 | 17 | — | 17 | — | 15 | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | 40,097 | $ | 15,419 | $ | 17,241 | $ | 32,660 | $ | 3,620 | $ | 29,770 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||
Balance | with No | with | Investment | Investment | |||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | $ | 17,227 | $ | 3,228 | $ | 11,407 | $ | 14,635 | $ | 2,882 | $ | 14,791 | |||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | 1,408 | 810 | 123 | 933 | — | 1,186 | |||||||||||||||||||
Real estate – commercial | 14,686 | 5,305 | 8,218 | 13,523 | 94 | 10,506 | |||||||||||||||||||
Real estate – residential | 1,317 | 1,087 | — | 1,087 | 1,276 | 1,122 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | 12 | 11 | — | 11 | — | 34 | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | 34,650 | $ | 10,441 | $ | 19,748 | $ | 30,189 | $ | 4,252 | $ | 27,639 | |||||||||||||
Summary of Loans Restructured by Class | ' | ||||||||||||||||||||||||
This table provides a summary of loans restructured by class during the three and nine months ended September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | 1 | $ | 469 | $ | 469 | |||||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | — | — | — | — | — | — | |||||||||||||||||||
Real estate – commercial | 1 | 178 | 178 | 1 | 178 | 178 | |||||||||||||||||||
Real estate – residential | 1 | 67 | 67 | 4 | 277 | 301 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | — | — | — | — | — | — | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | 2 | $ | 245 | $ | 245 | 6 | $ | 924 | $ | 948 | |||||||||||||||
This table provides a summary of loans restructured by class for the three and nine months ended September 30, 2013 (in thousands): | |||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial | 1 | $ | 182 | $ | 182 | 3 | $ | 1,311 | $ | 1,249 | |||||||||||||||
Commercial – credit card | — | — | — | — | — | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Real estate – construction | — | — | — | — | — | — | |||||||||||||||||||
Real estate – commercial | — | — | — | 1 | 937 | 937 | |||||||||||||||||||
Real estate – residential | — | — | — | 1 | 425 | 425 | |||||||||||||||||||
Real estate – HELOC | — | — | — | — | — | — | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Consumer – credit card | — | — | — | — | — | — | |||||||||||||||||||
Consumer – other | — | — | — | — | — | — | |||||||||||||||||||
Leases | — | — | — | — | — | — | |||||||||||||||||||
Total | 1 | $ | 182 | $ | 182 | 5 | $ | 2,673 | $ | 2,611 | |||||||||||||||
Securities_Tables
Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Securities Available for Sale | ' | ||||||||||||||||||||||||
This table provides detailed information about securities available for sale at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
U.S. Treasury | $ | 510,650 | $ | 472 | $ | (905 | ) | $ | 510,217 | ||||||||||||||||
U.S. Agencies | 986,247 | 1,029 | (1,853 | ) | 985,423 | ||||||||||||||||||||
Mortgage-backed | 3,182,642 | 23,396 | (39,665 | ) | 3,166,373 | ||||||||||||||||||||
State and political subdivisions | 1,944,165 | 27,390 | (5,874 | ) | 1,965,681 | ||||||||||||||||||||
Corporates | 133,312 | 5 | (1,208 | ) | 132,109 | ||||||||||||||||||||
Total | $ | 6,757,016 | $ | 52,292 | $ | (49,505 | ) | $ | 6,759,803 | ||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
U.S. Treasury | $ | 110,789 | $ | 284 | $ | (873 | ) | $ | 110,200 | ||||||||||||||||
U.S. Agencies | 1,258,176 | 2,793 | (3,306 | ) | 1,257,663 | ||||||||||||||||||||
Mortgage-backed | 2,984,963 | 23,942 | (64,339 | ) | 2,944,566 | ||||||||||||||||||||
State and political subdivisions | 2,003,509 | 23,493 | (31,756 | ) | 1,995,246 | ||||||||||||||||||||
Corporates | 457,275 | 902 | (3,441 | ) | 454,736 | ||||||||||||||||||||
Total | $ | 6,814,712 | $ | 51,414 | $ | (103,715 | ) | $ | 6,762,411 | ||||||||||||||||
Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale | ' | ||||||||||||||||||||||||
The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
U.S. Treasury | $ | 215,360 | $ | (404 | ) | $ | 29,471 | $ | (501 | ) | $ | 244,831 | $ | (905 | ) | ||||||||||
U.S. Agencies | 407,420 | (604 | ) | 117,295 | (1,249 | ) | 524,715 | (1,853 | ) | ||||||||||||||||
Mortgage-backed | 1,474,931 | (23,122 | ) | 533,596 | (16,543 | ) | 2,008,527 | (39,665 | ) | ||||||||||||||||
State and political subdivisions | 177,480 | (410 | ) | 294,762 | (5,464 | ) | 472,242 | (5,874 | ) | ||||||||||||||||
Corporates | 42,072 | (246 | ) | 86,349 | (962 | ) | 128,421 | (1,208 | ) | ||||||||||||||||
Total temporarily-impaired debt securities available for sale | $ | 2,317,263 | $ | (24,786 | ) | $ | 1,061,473 | $ | (24,719 | ) | $ | 3,378,736 | $ | (49,505 | ) | ||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
U.S. Treasury | $ | 39,822 | $ | (873 | ) | $ | — | $ | — | $ | 39,822 | $ | (873 | ) | |||||||||||
U.S. Agencies | 675,509 | (3,130 | ) | 9,824 | (176 | ) | 685,333 | (3,306 | ) | ||||||||||||||||
Mortgage-backed | 1,945,964 | (60,719 | ) | 89,147 | (3,620 | ) | 2,035,111 | (64,339 | ) | ||||||||||||||||
State and political subdivisions | 662,225 | (25,064 | ) | 87,061 | (6,692 | ) | 749,286 | (31,756 | ) | ||||||||||||||||
Corporates | 271,834 | (2,458 | ) | 41,522 | (983 | ) | 313,356 | (3,441 | ) | ||||||||||||||||
Total temporarily-impaired debt securities available for sale | $ | 3,595,354 | $ | (92,244 | ) | $ | 227,554 | $ | (11,471 | ) | $ | 3,822,908 | $ | (103,715 | ) | ||||||||||
Securities Held to Maturity | ' | ||||||||||||||||||||||||
The table below provides detailed information for securities held to maturity at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
State and political subdivisions | $ | 237,961 | $ | 32,329 | $ | — | $ | 270,290 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
State and political subdivisions | $ | 209,770 | $ | 21,740 | $ | — | $ | 231,510 | |||||||||||||||||
Schedule of Federal Reserve Bank Stock and Other Securities | ' | ||||||||||||||||||||||||
The table below provides detailed information for Federal Reserve Bank stock and other securities at September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Federal Reserve Bank stock | $ | 16,279 | $ | — | $ | — | $ | 16,279 | |||||||||||||||||
Other securities – marketable | — | 19,472 | — | 19,472 | |||||||||||||||||||||
Other securities – non-marketable | 29,839 | 5,602 | — | 35,441 | |||||||||||||||||||||
Total Federal Reserve Bank stock and other | $ | 46,118 | $ | 25,074 | $ | — | $ | 71,192 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Federal Reserve Bank stock | $ | 16,279 | $ | — | $ | — | $ | 16,279 | |||||||||||||||||
Other securities – marketable | 20 | 16,612 | — | 16,632 | |||||||||||||||||||||
Other securities – non-marketable | 17,139 | 432 | — | 17,571 | |||||||||||||||||||||
Total Federal Reserve Bank stock and other | $ | 33,438 | $ | 17,044 | $ | — | $ | 50,482 | |||||||||||||||||
Available-for-sale Securities [Member] | ' | ||||||||||||||||||||||||
Contractual Maturity Information | ' | ||||||||||||||||||||||||
The following table presents contractual maturity information for securities available for sale at September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in 1 year or less | $ | 466,001 | $ | 467,789 | |||||||||||||||||||||
Due after 1 year through 5 years | 2,299,824 | 2,311,028 | |||||||||||||||||||||||
Due after 5 years through 10 years | 687,956 | 696,024 | |||||||||||||||||||||||
Due after 10 years | 120,593 | 118,589 | |||||||||||||||||||||||
Total | 3,574,374 | 3,593,430 | |||||||||||||||||||||||
Mortgage-backed securities | 3,182,642 | 3,166,373 | |||||||||||||||||||||||
Total securities available for sale | $ | 6,757,016 | $ | 6,759,803 | |||||||||||||||||||||
Held-to-maturity Securities [Member] | ' | ||||||||||||||||||||||||
Contractual Maturity Information | ' | ||||||||||||||||||||||||
The following table presents contractual maturity information for securities held to maturity at September 30, 2014 (in thousands): | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in 1 year or less | $ | 46 | $ | 52 | |||||||||||||||||||||
Due after 1 year through 5 years | 26,650 | 30,271 | |||||||||||||||||||||||
Due after 5 years through 10 years | 132,268 | 150,238 | |||||||||||||||||||||||
Due after 10 years | 78,997 | 89,729 | |||||||||||||||||||||||
Total securities held to maturity | $ | 237,961 | $ | 270,290 | |||||||||||||||||||||
Goodwill_and_Other_Intangibles1
Goodwill and Other Intangibles (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||
Changes in the carrying amount of goodwill for the periods ended September 30, 2014 and December 31, 2013 by reportable segment are as follows (in thousands): | |||||||||||||||||
Bank | Institutional | Asset | Total | ||||||||||||||
Investment | Servicing | ||||||||||||||||
Management | |||||||||||||||||
Balances as of January 1, 2013 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Balances as of December 31, 2013 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Balances as of January 1, 2014 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Balances as of September 30, 2014 | $ | 142,753 | $47,529 | $ | 19,476 | $ | 209,758 | ||||||||||
Changes in Intangible Assets | ' | ||||||||||||||||
Following are the finite-lived intangible assets that continue to be subject to amortization as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
September 30, 2014 | |||||||||||||||||
Core deposit intangible assets | $ | 36,497 | $ | 32,484 | $ | 4,013 | |||||||||||
Customer relationships | 104,560 | 62,299 | 42,261 | ||||||||||||||
Other intangible assets | 3,247 | 2,555 | 692 | ||||||||||||||
Total intangible assets | $ | 144,304 | $ | 97,338 | $ | 46,966 | |||||||||||
December 31, 2013 | |||||||||||||||||
Core deposit intangible assets | $ | 36,497 | $ | 31,674 | $ | 4,823 | |||||||||||
Customer relationships | 103,960 | 54,062 | 49,898 | ||||||||||||||
Other intangible assets | 3,247 | 2,383 | 864 | ||||||||||||||
Total intangible assets | $ | 143,704 | $ | 88,119 | $ | 55,585 | |||||||||||
Aggregate Amortization Expense Recognized | ' | ||||||||||||||||
Following is the aggregate amortization expense recognized in each period (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Aggregate amortization expense | $3,043 | $3,245 | $ | 9,219 | $ | 10,054 | |||||||||||
Estimated Amortization Expense of Intangible Assets | ' | ||||||||||||||||
Estimated amortization expense of intangible assets on future years (in thousands): | |||||||||||||||||
For the three months ending December 31, 2014 | $ | 2,974 | |||||||||||||||
For the year ending December 31, 2015 | 9,636 | ||||||||||||||||
For the year ending December 31, 2016 | 8,428 | ||||||||||||||||
For the year ending December 31, 2017 | 7,185 | ||||||||||||||||
For the year ending December 31, 2018 | 4,994 | ||||||||||||||||
For the year ending December 31, 2019 | 4,204 |
Commitments_Contingencies_and_1
Commitments, Contingencies and Guarantees (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Notional Amount of Off-Balance Sheet Financial Instruments | ' | ||||||||
The following table summarizes the Company’s off-balance sheet financial instruments. | |||||||||
Contract or Notional Amount (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commitments to extend credit for loans (excluding credit card loans) | $ | 3,167,398 | $ | 2,690,268 | |||||
Commitments to extend credit under credit card loans | 2,384,213 | 2,215,278 | |||||||
Commercial letters of credit | 1,415 | 5,949 | |||||||
Standby letters of credit | 374,109 | 356,054 | |||||||
Forward foreign exchange contracts | 66,939 | 21,525 | |||||||
Spot foreign exchange contracts | 1,425 | 8,001 |
Business_Segment_Reporting_Tab
Business Segment Reporting (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Schedule of Segment Financial Results | ' | ||||||||||||||||||||
Segment financial results were as follows (in thousands): | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 72,906 | $ | 13,442 | $ | — | $ | 1,178 | $ | 87,526 | |||||||||||
Provision for loan losses | 2,446 | 2,054 | — | — | 4,500 | ||||||||||||||||
Noninterest income | 48,385 | 21,579 | 33,919 | 22,592 | 126,475 | ||||||||||||||||
Noninterest expense | 99,307 | 22,056 | 20,910 | 19,188 | 161,461 | ||||||||||||||||
Income before taxes | 19,538 | 10,911 | 13,009 | 4,582 | 48,040 | ||||||||||||||||
Income tax expense | 5,081 | 2,795 | 3,350 | 1,184 | 12,410 | ||||||||||||||||
Net income | $ | 14,457 | $ | 8,116 | $ | 9,659 | $ | 3,398 | $ | 35,630 | |||||||||||
Average assets | $ | 11,639,000 | $ | 2,823,000 | $ | 74,000 | $ | 1,102,000 | $ | 15,638,000 | |||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 73,419 | $ | 11,587 | $ | (11 | ) | $ | 550 | $ | 85,545 | ||||||||||
Provision for loan losses | 1,833 | 4,667 | — | — | 6,500 | ||||||||||||||||
Noninterest income | 48,945 | 18,409 | 33,842 | 20,429 | 121,625 | ||||||||||||||||
Noninterest expense | 93,150 | 21,658 | 21,054 | 17,201 | 153,063 | ||||||||||||||||
Income before taxes | 27,381 | 3,671 | 12,777 | 3,778 | 47,607 | ||||||||||||||||
Income tax expense | 6,922 | 1,283 | 3,506 | 1,464 | 13,175 | ||||||||||||||||
Net income | $ | 20,459 | $ | 2,388 | $ | 9,271 | $ | 2,314 | $ | 34,432 | |||||||||||
Average assets | $ | 11,128,000 | $ | 1,727,000 | $ | 76,000 | $ | 1,993,000 | $ | 14,924,000 | |||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 216,508 | $ | 38,220 | $ | (3 | ) | $ | 4,416 | $ | 259,141 | ||||||||||
Provision for loan losses | 7,558 | 6,442 | — | — | 14,000 | ||||||||||||||||
Noninterest income | 151,843 | 62,998 | 102,014 | 66,585 | 383,440 | ||||||||||||||||
Noninterest expense | 308,013 | 67,680 | 68,848 | 55,672 | 500,213 | ||||||||||||||||
Income before taxes | 52,780 | 27,096 | 33,163 | 15,329 | 128,368 | ||||||||||||||||
Income tax expense | 14,326 | 7,272 | 8,887 | 4,168 | 34,653 | ||||||||||||||||
Net income | $ | 38,454 | $ | 19,824 | $ | 24,276 | $ | 11,161 | $ | 93,715 | |||||||||||
Average assets | $ | 11,914,000 | $ | 2,350,000 | $ | 74,000 | $ | 1,583,000 | $ | 15,921,000 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Bank | Payment | Institutional | Asset | Total | |||||||||||||||||
Solutions | Investment | Servicing | |||||||||||||||||||
Management | |||||||||||||||||||||
Net interest income | $ | 211,238 | $ | 34,327 | $ | (22 | ) | $ | 1,812 | $ | 247,355 | ||||||||||
Provision for loan losses | 3,770 | 9,730 | — | — | 13,500 | ||||||||||||||||
Noninterest income | 148,129 | 56,486 | 91,550 | 60,061 | 356,226 | ||||||||||||||||
Noninterest expense | 277,226 | 63,626 | 58,754 | 54,146 | 453,752 | ||||||||||||||||
Income before taxes | 78,371 | 17,457 | 32,774 | 7,727 | 136,329 | ||||||||||||||||
Income tax expense | 19,629 | 5,464 | 8,880 | 3,054 | 37,027 | ||||||||||||||||
Net income | $ | 58,742 | $ | 11,993 | $ | 23,894 | $ | 4,673 | $ | 99,302 | |||||||||||
Average assets | $ | 11,145,000 | $ | 1,770,000 | $ | 79,000 | $ | 1,867,000 | $ | 14,861,000 |
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Summary of Fair Value of Derivative Assets and Liabilities | ' | ||||||||||||||||
This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Fair value | |||||||||||||||||
Interest Rate Products: | |||||||||||||||||
Derivatives not designated as hedging instruments | $ | 4,548 | $ | 2,442 | $ | 4,637 | $ | 2,346 | |||||||||
Derivatives designated as hedging instruments | — | 76 | 141 | — | |||||||||||||
Total | $ | 4,548 | $ | 2,518 | $ | 4,778 | $ | 2,346 | |||||||||
Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Asset and Liability | ' | ||||||||||||||||
This table provides a summary of the amount of gain (loss) recognized in Other non-interest expense in the Consolidated Statements of Income related to the Company’s derivative asset and liability for the three and nine months ended September 30, 2014 and September 30, 2013 (in thousands): | |||||||||||||||||
Amount of Gain (Loss) Recognized | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Interest Rate Products | |||||||||||||||||
Derivatives not designated as hedging instruments | $ | (133 | ) | $ | (40 | ) | $ | (185 | ) | $ | 114 | ||||||
Total | $ | (133 | ) | $ | (40 | ) | $ | (185 | ) | $ | 114 | ||||||
Interest Rate Products | |||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||
Fair value adjustments on derivatives | $ | 19 | $ | — | $ | (216 | ) | $ | — | ||||||||
Fair value adjustments on hedged items | (20 | ) | — | 197 | — | ||||||||||||
Total | $ | (1 | ) | $ | — | $ | (19 | ) | $ | — | |||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
Assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||
Fair Value Measurement at September 30, 2014 | |||||||||||||||||||||
Description | September 30, | Quoted | Significant | Significant | |||||||||||||||||
2014 | Prices in | Other | Unobservable | ||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
U.S. Treasury | $ | 500 | $ | 500 | $ | — | $ | — | |||||||||||||
U.S. Agencies | — | — | — | — | |||||||||||||||||
Mortgage-backed | 3,922 | — | 3,922 | — | |||||||||||||||||
State and political subdivisions | 8,988 | — | 8,988 | — | |||||||||||||||||
Trading - other | 18,380 | 18,380 | — | — | |||||||||||||||||
Trading securities | 31,790 | 18,880 | 12,910 | — | |||||||||||||||||
U.S. Treasury | 510,217 | 510,217 | — | — | |||||||||||||||||
U.S. Agencies | 985,423 | — | 985,423 | — | |||||||||||||||||
Mortgage-backed | 3,166,373 | — | 3,166,373 | — | |||||||||||||||||
State and political subdivisions | 1,965,681 | — | 1,965,681 | — | |||||||||||||||||
Corporates | 132,109 | 132,109 | — | — | |||||||||||||||||
Available for sale securities | 6,759,803 | 642,326 | 6,117,477 | — | |||||||||||||||||
Company-owned life insurance | 26,748 | — | 26,748 | — | |||||||||||||||||
Derivatives | 4,548 | — | 4,548 | — | |||||||||||||||||
Total | $ | 6,822,889 | $ | 661,206 | $ | 6,161,683 | $ | — | |||||||||||||
Liabilities | |||||||||||||||||||||
Deferred compensation | $ | 26,188 | $ | 26,188 | $ | — | $ | — | |||||||||||||
Contingent consideration liability | 54,259 | — | — | 54,259 | |||||||||||||||||
Derivatives | 4,778 | — | 4,778 | — | |||||||||||||||||
Total | $ | 85,225 | $ | 26,188 | $ | 4,778 | $ | 54,259 | |||||||||||||
Fair Value Measurement at December 31, 2013 | |||||||||||||||||||||
Description | December 31, | Quoted Prices | Significant | Significant | |||||||||||||||||
2013 | in Active | Other | Unobservable | ||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
U.S. Treasury | $ | 400 | $ | 400 | $ | — | $ | — | |||||||||||||
U.S. Agencies | — | — | — | — | |||||||||||||||||
Mortgage-backed | 515 | — | 515 | — | |||||||||||||||||
State and political subdivisions | 3,072 | — | 3,072 | — | |||||||||||||||||
Trading - other | 24,477 | 24,477 | — | — | |||||||||||||||||
Trading securities | 28,464 | 24,877 | 3,587 | — | |||||||||||||||||
U.S. Treasury | 110,200 | 110,200 | — | — | |||||||||||||||||
U.S. Agencies | 1,257,663 | — | 1,257,663 | — | |||||||||||||||||
Mortgage-backed | 2,944,566 | — | 2,944,566 | — | |||||||||||||||||
State and political subdivisions | 1,995,246 | — | 1,995,246 | — | |||||||||||||||||
Corporates | 454,736 | 454,736 | — | — | |||||||||||||||||
Available for sale securities | 6,762,411 | 564,936 | 6,197,475 | — | |||||||||||||||||
Company-owned life insurance | 19,619 | — | 19,619 | — | |||||||||||||||||
Derivatives | 2,518 | — | 2,518 | — | |||||||||||||||||
Total | $ | 6,813,012 | $ | 589,813 | $ | 6,223,199 | $ | — | |||||||||||||
Liabilities | |||||||||||||||||||||
Deferred compensation | $ | 19,825 | $ | 19,825 | $ | — | $ | — | |||||||||||||
Contingent consideration liability | 46,201 | — | — | 46,201 | |||||||||||||||||
Derivatives | 2,346 | — | 2,346 | — | |||||||||||||||||
Total | $ | 68,372 | $ | 19,825 | $ | 2,346 | $ | 46,201 | |||||||||||||
Reconciliation of Beginning and Ending Balances of Contingent Consideration Liability | ' | ||||||||||||||||||||
The following table reconciles the beginning and ending balances of the contingent consideration liability for the nine months ended September 30, 2014 (in thousands): | |||||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Beginning Balance | $ | 46,201 | $ | 51,163 | |||||||||||||||||
Contingency reserve | 14,272 | — | |||||||||||||||||||
Payment of contingent considerations on acquisitions | (13,725 | ) | (16,172 | ) | |||||||||||||||||
Income from fair value adjustments | — | (138 | ) | ||||||||||||||||||
Expense from fair value adjustments | 7,511 | 4,462 | |||||||||||||||||||
Ending Balance | $ | 54,259 | $ | 39,315 | |||||||||||||||||
Quantitative Information about Significant Unobservable Input used in Fair Value Measurement for Contingent Consideration Liability Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
The following table presents certain quantitative information about the significant unobservable input used in the fair value measurement for the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3): | |||||||||||||||||||||
Description | Valuation Techniques | Significant | Range | ||||||||||||||||||
Unobservable Inputs | |||||||||||||||||||||
Liabilities | |||||||||||||||||||||
Contingent consideration liability | Discounted cash flows | Revenue growth percentage | 1% - 98 | % | |||||||||||||||||
Assets Measured at Fair Value on Non-Recurring Basis | ' | ||||||||||||||||||||
Assets measured at fair value on a non-recurring basis as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||
Fair Value Measurement at September 30, 2014 | |||||||||||||||||||||
Description | September 30, | Quoted Prices | Significant | Significant | Total | ||||||||||||||||
2014 | in Active | Other | Unobservable | Gains | |||||||||||||||||
Markets for | Observable | Inputs | (Losses) | ||||||||||||||||||
Identical | Inputs | (Level 3) | Recognized | ||||||||||||||||||
Assets | (Level 2) | During the Nine | |||||||||||||||||||
(Level 1) | Months Ended | ||||||||||||||||||||
September 30 | |||||||||||||||||||||
Impaired loans | $ | 13,621 | $ | $ | $ | 13,621 | $ | 632 | |||||||||||||
Other real estate owned | 138 | — | — | 138 | $ | — | |||||||||||||||
Total | $ | 13,759 | $ | $ | $ | 13,759 | $ | 632 | |||||||||||||
Fair Value Measurement at December 31, 2013 | |||||||||||||||||||||
Description | December 31, | Quoted Prices | Significant | Significant | Total | ||||||||||||||||
2013 | in Active | Other | Unobservable | Gains | |||||||||||||||||
Markets for | Observable | Inputs | (Losses) | ||||||||||||||||||
Identical | Inputs | (Level 3) | Recognized | ||||||||||||||||||
Assets | (Level 2) | During the | |||||||||||||||||||
(Level 1) | Twelve Months | ||||||||||||||||||||
Ended | |||||||||||||||||||||
December 31 | |||||||||||||||||||||
Impaired loans | $ | 15,496 | $ | — | $ | — | $ | 15,496 | $ | (2,496 | ) | ||||||||||
Other real estate owned | 329 | — | — | 329 | (125 | ) | |||||||||||||||
Total | $ | 15,825 | $ | — | $ | — | $ | 15,825 | $ | (2,621 | ) | ||||||||||
Estimated Fair Value of Financial Instruments | ' | ||||||||||||||||||||
Fair value disclosures require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The estimated fair value of the Company’s financial instruments at September 30, 2014 and December 31, 2013 are as follows (in millions): | |||||||||||||||||||||
Fair Value Measurement at September 30, 2014 | |||||||||||||||||||||
Carrying | Quoted Prices | Significant | Significant | Total | |||||||||||||||||
Amount | in Active | Other | Unobservable | Estimated | |||||||||||||||||
Markets for | Observable | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Securities held to maturity | $ | 238 | $ | — | $ | 270.3 | $ | — | $ | 270.3 | |||||||||||
Federal Reserve Bank and other | 71.2 | — | 71.2 | — | 71.2 | ||||||||||||||||
Loans (exclusive of allowance for loan loss) | 7,104.90 | — | 7,136.30 | — | 7,136.30 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Time deposits | 961.1 | — | 960.7 | — | 960.7 | ||||||||||||||||
Long-term debt | 7.1 | — | 7.3 | — | 7.3 | ||||||||||||||||
OFF-BALANCE SHEET ARRANGEMENTS | |||||||||||||||||||||
Commitments to extend credit for loans | 4.3 | ||||||||||||||||||||
Commercial letters of credit | 0.1 | ||||||||||||||||||||
Standby letters of credit | 1.8 | ||||||||||||||||||||
Fair Value Measurement at December 31, 2013 | |||||||||||||||||||||
Carrying | Quoted Prices | Significant | Significant | Total | |||||||||||||||||
Amount | in Active | Other | Unobservable | Estimated | |||||||||||||||||
Markets for | Observable | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Securities held to maturity | $ | 209.8 | $ | — | $ | 231.5 | $ | — | $ | 231.5 | |||||||||||
Federal Reserve Bank and other | 50.5 | — | 50.5 | — | 50.5 | ||||||||||||||||
Loans (exclusive of allowance for loan loss) | 6,521.90 | — | 6,571.60 | — | 6,571.60 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Time deposits | 1,449.60 | — | 1,449.40 | — | 1,449.40 | ||||||||||||||||
Long-term debt | 5.1 | — | 4.5 | — | 4.5 | ||||||||||||||||
OFF-BALANCE SHEET ARRANGEMENTS | |||||||||||||||||||||
Commitments to extend credit for loans | 6 | ||||||||||||||||||||
Commercial letters of credit | 0.1 | ||||||||||||||||||||
Standby letters of credit | 2 |
Summary_of_Cash_and_Cash_Equiv
Summary of Cash and Cash Equivalents (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Accounting Policies [Abstract] | ' | ' | ' | ' |
Due from the Federal Reserve | $824,264 | ' | $1,335,590 | ' |
Cash and due from banks | 395,956 | 521,001 | 604,592 | ' |
Cash and cash equivalents at end of period | $1,220,220 | $2,582,428 | $1,940,182 | $1,366,394 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | |||
Oct. 17, 2013 | Sep. 16, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' |
Due from certificates of deposit | ' | ' | $157,300,000 | $22,300,000 | $157,300,000 | $22,300,000 |
Dilutive effect of common stock issuable upon exercise of options, shares | ' | ' | 551,674 | 650,028 | 601,260 | 544,930 |
Anti-dilutive shares | ' | ' | 250,911 | ' | 250,911 | 270,839 |
Common Stock, issuance shares | ' | 3,900,000 | ' | ' | ' | ' |
Common stock issuance | ' | 201,200,000 | ' | ' | ' | 201,177,000 |
Underwriters option description | ' | ' | ' | ' | 'UMB granted the underwriters a 30-day option to purchase up to an additional 585,000 shares of common stock. | ' |
Shares allotted to underwriters upon issuance of options | ' | 585,000 | ' | ' | ' | ' |
Number of units underwriter exercised | 585,000 | ' | ' | ' | ' | ' |
Net proceeds from underwriting option | $30,200,000 | ' | ' | ' | ' | ' |
Summary_of_Loan_Classes_and_Ag
Summary of Loan Classes and Aging of Past Due Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | $14,196 | $13,360 | ' |
Greater than 90 Days Past Due and Accruing | 4,678 | 3,218 | ' |
Non- Accrual Loans | 32,662 | 30,706 | ' |
Total Past Due | 51,536 | 47,284 | ' |
Current | 7,051,627 | 6,473,228 | ' |
Total Loans | 7,103,163 | 6,520,512 | 6,506,902 |
Commercial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 1,376 | 2,107 | ' |
Greater than 90 Days Past Due and Accruing | 199 | 135 | ' |
Non- Accrual Loans | 15,075 | 8,042 | ' |
Total Past Due | 16,650 | 10,284 | ' |
Current | 3,522,624 | 3,291,219 | ' |
Total Loans | 3,539,274 | 3,301,503 | ' |
Commercial - credit card [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 293 | 362 | ' |
Greater than 90 Days Past Due and Accruing | 75 | 82 | ' |
Non- Accrual Loans | 44 | 38 | ' |
Total Past Due | 412 | 482 | ' |
Current | 129,612 | 102,788 | ' |
Total Loans | 130,024 | 103,270 | ' |
Real estate - construction [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 2,380 | 186 | ' |
Greater than 90 Days Past Due and Accruing | 0 | ' | ' |
Non- Accrual Loans | 948 | 934 | ' |
Total Past Due | 3,328 | 1,120 | ' |
Current | 242,477 | 151,755 | ' |
Total Loans | 245,805 | 152,875 | ' |
Real estate - commercial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 3,050 | 3,611 | ' |
Greater than 90 Days Past Due and Accruing | 2,038 | 344 | ' |
Non- Accrual Loans | 15,267 | 19,213 | ' |
Total Past Due | 20,355 | 23,168 | ' |
Current | 1,786,570 | 1,678,983 | ' |
Total Loans | 1,806,925 | 1,702,151 | ' |
Real estate - residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 869 | 1,257 | ' |
Greater than 90 Days Past Due and Accruing | 207 | 13 | ' |
Non- Accrual Loans | 567 | 868 | ' |
Total Past Due | 1,643 | 2,138 | ' |
Current | 315,183 | 287,218 | ' |
Total Loans | 316,826 | 289,356 | ' |
Real estate - Home Equity Line of Credit [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 157 | 880 | ' |
Greater than 90 Days Past Due and Accruing | 0 | 6 | ' |
Non- Accrual Loans | 115 | 210 | ' |
Total Past Due | 272 | 1,096 | ' |
Current | 629,224 | 565,032 | ' |
Total Loans | 629,496 | 566,128 | ' |
Consumer - credit card [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 2,348 | 3,230 | ' |
Greater than 90 Days Past Due and Accruing | 1,962 | 2,448 | ' |
Non- Accrual Loans | 550 | 1,031 | ' |
Total Past Due | 4,860 | 6,709 | ' |
Current | 298,833 | 311,627 | ' |
Total Loans | 303,693 | 318,336 | ' |
Consumer - other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 3,723 | 1,727 | ' |
Greater than 90 Days Past Due and Accruing | 197 | 190 | ' |
Non- Accrual Loans | 96 | 370 | ' |
Total Past Due | 4,016 | 2,287 | ' |
Current | 87,904 | 60,625 | ' |
Total Loans | 91,920 | 62,912 | ' |
Leases [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-89 Days Past Due and Accruing | 0 | ' | ' |
Greater than 90 Days Past Due and Accruing | 0 | ' | ' |
Non- Accrual Loans | 0 | ' | ' |
Total Past Due | 0 | ' | ' |
Current | 39,200 | 23,981 | ' |
Total Loans | $39,200 | $23,981 | $25,639 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Receivables [Abstract] | ' | ' | ' |
Proceeds from sales of loans held for sale | $51,880,000 | $103,388,000 | ' |
Non-accrual loans | 32,662,000 | ' | 30,706,000 |
Restructured loans | 10,200,000 | ' | 12,100,000 |
Loans 90 days past due and accruing | 4,678,000 | ' | 3,218,000 |
Commitments to lend to borrowers with loan modifications classified as TDR's | $428,000 | ' | ' |
Credit_Risk_Profile_by_Risk_Ra
Credit Risk Profile by Risk Rating (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | $7,103,163 | $6,520,512 | $6,506,902 |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 3,539,274 | 3,301,503 | ' |
Commercial [Member] | Non-watch list [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 3,263,847 | 3,041,224 | ' |
Commercial [Member] | Watch [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 61,424 | 110,932 | ' |
Commercial [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 87,947 | 78,064 | ' |
Commercial [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 126,056 | 71,283 | ' |
Real estate - construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 245,805 | 152,875 | ' |
Real estate - construction [Member] | Non-watch list [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 243,513 | 151,359 | ' |
Real estate - construction [Member] | Watch [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 186 | 210 | ' |
Real estate - construction [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 758 | 0 | ' |
Real estate - construction [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 1,348 | 1,306 | ' |
Real estate - commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 1,806,925 | 1,702,151 | ' |
Real estate - commercial [Member] | Non-watch list [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 1,689,958 | 1,565,894 | ' |
Real estate - commercial [Member] | Watch [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 46,509 | 76,647 | ' |
Real estate - commercial [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | 24,677 | 19,876 | ' |
Real estate - commercial [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile by Risk Rating | $45,781 | $39,734 | ' |
Credit_Risk_Profile_Based_on_P
Credit Risk Profile Based on Payment Activity (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | $7,103,163 | $6,520,512 | $6,506,902 |
Commercial - credit card [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 130,024 | 103,270 | ' |
Commercial - credit card [Member] | Performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 129,980 | 103,232 | ' |
Commercial - credit card [Member] | Non-performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 44 | 38 | ' |
Real estate - residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 316,826 | 289,356 | ' |
Real estate - residential [Member] | Performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 316,259 | 288,488 | ' |
Real estate - residential [Member] | Non-performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 567 | 868 | ' |
Real estate - Home Equity Line of Credit [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 629,496 | 566,128 | ' |
Real estate - Home Equity Line of Credit [Member] | Performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 629,381 | 565,918 | ' |
Real estate - Home Equity Line of Credit [Member] | Non-performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 115 | 210 | ' |
Consumer - credit card [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 303,693 | 318,336 | ' |
Consumer - credit card [Member] | Performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 303,143 | 317,305 | ' |
Consumer - credit card [Member] | Non-performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 550 | 1,031 | ' |
Consumer - other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 91,920 | 62,912 | ' |
Consumer - other [Member] | Performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 91,824 | 62,542 | ' |
Consumer - other [Member] | Non-performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 96 | 370 | ' |
Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 39,200 | 23,981 | 25,639 |
Leases [Member] | Performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | 39,200 | 23,981 | ' |
Leases [Member] | Non-performing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Credit Risk Profile Based on Payment Activity | $0 | ' | ' |
Rollforward_of_Allowance_for_L
Rollforward of Allowance for Loan Losses by Portfolio Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | $76,802 | $71,647 | $74,751 | $71,426 | ' |
Charge-offs | -4,835 | -3,880 | -14,099 | -12,813 | ' |
Recoveries | 849 | 671 | 2,664 | 2,825 | ' |
Provision | 4,500 | 6,500 | 14,000 | 13,500 | ' |
Ending Balance | 77,316 | 74,938 | 77,316 | 74,938 | ' |
Ending Balance: individually evaluated for impairment, allowances | 3,620 | 4,713 | 3,620 | 4,713 | 4,252 |
Ending Balance: collectively evaluated for impairment, allowances | 73,696 | 70,225 | 73,696 | 70,225 | ' |
Total Loans | 7,103,163 | 6,506,902 | 7,103,163 | 6,506,902 | 6,520,512 |
Ending Balance: individually evaluated for impairment, loans | 32,660 | 30,717 | 32,660 | 30,717 | ' |
Ending Balance: collectively evaluated for impairment, loans | 7,070,503 | 6,476,185 | 7,070,503 | 6,476,185 | ' |
Commercial [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 52,433 | 45,108 | 48,886 | 43,390 | ' |
Charge-offs | -2,033 | -592 | -4,980 | -3,015 | ' |
Recoveries | 396 | 246 | 664 | 761 | ' |
Provision | 3,983 | 3,491 | 10,209 | 7,117 | ' |
Ending Balance | 54,779 | 48,253 | 54,779 | 48,253 | ' |
Ending Balance: individually evaluated for impairment, allowances | 2,252 | 3,301 | 2,252 | 3,301 | ' |
Ending Balance: collectively evaluated for impairment, allowances | 52,527 | 44,952 | 52,527 | 44,952 | ' |
Total Loans | 3,669,298 | 3,494,603 | 3,669,298 | 3,494,603 | ' |
Ending Balance: individually evaluated for impairment, loans | 19,176 | 14,835 | 19,176 | 14,835 | ' |
Ending Balance: collectively evaluated for impairment, loans | 3,650,122 | 3,479,768 | 3,650,122 | 3,479,768 | ' |
Real Estate [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 14,217 | 16,296 | 15,342 | 15,506 | ' |
Charge-offs | -57 | -162 | -238 | -533 | ' |
Recoveries | 8 | 21 | 25 | 37 | ' |
Provision | -1,515 | 2 | -2,476 | 1,147 | ' |
Ending Balance | 12,653 | 16,157 | 12,653 | 16,157 | ' |
Ending Balance: individually evaluated for impairment, allowances | 1,368 | 1,412 | 1,368 | 1,412 | ' |
Ending Balance: collectively evaluated for impairment, allowances | 11,285 | 14,745 | 11,285 | 14,745 | ' |
Total Loans | 2,999,052 | 2,604,956 | 2,999,052 | 2,604,956 | ' |
Ending Balance: individually evaluated for impairment, loans | 13,467 | 15,852 | 13,467 | 15,852 | ' |
Ending Balance: collectively evaluated for impairment, loans | 2,985,585 | 2,589,104 | 2,985,585 | 2,589,104 | ' |
Consumer [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 10,074 | 10,168 | 10,447 | 12,470 | ' |
Charge-offs | -2,745 | -3,126 | -8,881 | -9,265 | ' |
Recoveries | 445 | 404 | 1,975 | 2,027 | ' |
Provision | 1,964 | 2,996 | 6,197 | 5,210 | ' |
Ending Balance | 9,738 | 10,442 | 9,738 | 10,442 | ' |
Ending Balance: individually evaluated for impairment, allowances | 0 | ' | 0 | ' | ' |
Ending Balance: collectively evaluated for impairment, allowances | 9,738 | 10,442 | 9,738 | 10,442 | ' |
Total Loans | 395,613 | 381,704 | 395,613 | 381,704 | ' |
Ending Balance: individually evaluated for impairment, loans | 17 | 30 | 17 | 30 | ' |
Ending Balance: collectively evaluated for impairment, loans | 395,596 | 381,674 | 395,596 | 381,674 | ' |
Leases [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 78 | 75 | 76 | 60 | ' |
Charge-offs | 0 | ' | 0 | ' | ' |
Recoveries | 0 | ' | 0 | ' | ' |
Provision | 68 | 11 | 70 | 26 | ' |
Ending Balance | 146 | 86 | 146 | 86 | ' |
Ending Balance: individually evaluated for impairment, allowances | 0 | ' | 0 | ' | ' |
Ending Balance: collectively evaluated for impairment, allowances | 146 | 86 | 146 | 86 | ' |
Total Loans | 39,200 | 25,639 | 39,200 | 25,639 | 23,981 |
Ending Balance: individually evaluated for impairment, loans | 0 | ' | 0 | ' | ' |
Ending Balance: collectively evaluated for impairment, loans | $39,200 | $25,639 | $39,200 | $25,639 | ' |
Analysis_of_Impaired_Loans_by_
Analysis of Impaired Loans by Class (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | $40,097 | $34,650 | ' |
Recorded Investment with No Allowance | 15,419 | 10,441 | ' |
Recorded Investment with Allowance | 17,241 | 19,748 | ' |
Total Recorded Investment | 32,660 | 30,189 | ' |
Related Allowance | 3,620 | 4,252 | 4,713 |
Average Recorded Investment | 29,770 | 27,639 | ' |
Commercial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 23,599 | 17,227 | ' |
Recorded Investment with No Allowance | 8,710 | 3,228 | ' |
Recorded Investment with Allowance | 10,466 | 11,407 | ' |
Total Recorded Investment | 19,176 | 14,635 | ' |
Related Allowance | 2,252 | 2,882 | ' |
Average Recorded Investment | 15,762 | 14,791 | ' |
Commercial - credit card [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 0 | ' | ' |
Recorded Investment with No Allowance | 0 | ' | ' |
Recorded Investment with Allowance | 0 | ' | ' |
Total Recorded Investment | 0 | ' | ' |
Related Allowance | 0 | ' | ' |
Average Recorded Investment | 0 | ' | ' |
Real estate - construction [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 1,499 | 1,408 | ' |
Recorded Investment with No Allowance | 825 | 810 | ' |
Recorded Investment with Allowance | 123 | 123 | ' |
Total Recorded Investment | 948 | 933 | ' |
Related Allowance | 123 | ' | ' |
Average Recorded Investment | 928 | 1,186 | ' |
Real estate - commercial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 13,758 | 14,686 | ' |
Recorded Investment with No Allowance | 4,816 | 5,305 | ' |
Recorded Investment with Allowance | 6,652 | 8,218 | ' |
Total Recorded Investment | 11,468 | 13,523 | ' |
Related Allowance | 1,245 | 94 | ' |
Average Recorded Investment | 12,035 | 10,506 | ' |
Real estate - residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 1,224 | 1,317 | ' |
Recorded Investment with No Allowance | 1,051 | 1,087 | ' |
Recorded Investment with Allowance | 0 | ' | ' |
Total Recorded Investment | 1,051 | 1,087 | ' |
Related Allowance | 0 | 1,276 | ' |
Average Recorded Investment | 1,030 | 1,122 | ' |
Real estate - Home Equity Line of Credit [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 0 | ' | ' |
Recorded Investment with No Allowance | 0 | ' | ' |
Recorded Investment with Allowance | 0 | ' | ' |
Total Recorded Investment | 0 | ' | ' |
Related Allowance | 0 | ' | ' |
Average Recorded Investment | 0 | ' | ' |
Consumer - credit card [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 0 | ' | ' |
Recorded Investment with No Allowance | 0 | ' | ' |
Recorded Investment with Allowance | 0 | ' | ' |
Total Recorded Investment | 0 | ' | ' |
Related Allowance | 0 | ' | ' |
Average Recorded Investment | 0 | ' | ' |
Consumer - other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 17 | 12 | ' |
Recorded Investment with No Allowance | 17 | 11 | ' |
Recorded Investment with Allowance | 0 | ' | ' |
Total Recorded Investment | 17 | 11 | ' |
Related Allowance | 0 | ' | ' |
Average Recorded Investment | 15 | 34 | ' |
Leases [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 0 | ' | ' |
Recorded Investment with No Allowance | 0 | ' | ' |
Recorded Investment with Allowance | 0 | ' | ' |
Total Recorded Investment | 0 | ' | ' |
Related Allowance | 0 | ' | ' |
Average Recorded Investment | $0 | ' | ' |
Summary_of_Loans_Restructured_
Summary of Loans Restructured by Class (Detail) (Troubled Debt Restructuring [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Contract | Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 2 | 1 | 6 | 5 |
Pre-Modification Outstanding Recorded Investment | $245 | $182 | $924 | $2,673 |
Post-Modification Outstanding Recorded Investment | 245 | 182 | 948 | 2,611 |
Commercial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 1 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | 0 | 182 | 469 | 1,311 |
Post-Modification Outstanding Recorded Investment | 0 | 182 | 469 | 1,249 |
Commercial - credit card [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | ' | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Real estate - construction [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | ' | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Real estate - commercial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 1 | ' | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | 178 | ' | 178 | 937 |
Post-Modification Outstanding Recorded Investment | 178 | ' | 178 | 937 |
Real estate - residential [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 1 | ' | 4 | 1 |
Pre-Modification Outstanding Recorded Investment | 67 | ' | 277 | 425 |
Post-Modification Outstanding Recorded Investment | 67 | ' | 301 | 425 |
Real estate - Home Equity Line of Credit [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | ' | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Consumer - credit card [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | ' | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Consumer - other [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | ' | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Leases [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | ' | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' | 0 | ' |
Post-Modification Outstanding Recorded Investment | $0 | ' | $0 | ' |
Securities_Available_for_Sale_
Securities Available for Sale (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | $6,757,016 | $6,814,712 |
Securities available for sale, Gross Unrealized Gains | 52,292 | 51,414 |
Securities available for sale, Gross Unrealized Losses | -49,505 | -103,715 |
Total securities available for sale, Fair Value | 6,759,803 | 6,762,411 |
U.S. Treasury [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 510,650 | 110,789 |
Securities available for sale, Gross Unrealized Gains | 472 | 284 |
Securities available for sale, Gross Unrealized Losses | -905 | -873 |
Total securities available for sale, Fair Value | 510,217 | 110,200 |
U.S. Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 986,247 | 1,258,176 |
Securities available for sale, Gross Unrealized Gains | 1,029 | 2,793 |
Securities available for sale, Gross Unrealized Losses | -1,853 | -3,306 |
Total securities available for sale, Fair Value | 985,423 | 1,257,663 |
Mortgage-backed [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 3,182,642 | 2,984,963 |
Securities available for sale, Gross Unrealized Gains | 23,396 | 23,942 |
Securities available for sale, Gross Unrealized Losses | -39,665 | -64,339 |
Total securities available for sale, Fair Value | 3,166,373 | 2,944,566 |
State and political subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 1,944,165 | 2,003,509 |
Securities available for sale, Gross Unrealized Gains | 27,390 | 23,493 |
Securities available for sale, Gross Unrealized Losses | -5,874 | -31,756 |
Total securities available for sale, Fair Value | 1,965,681 | 1,995,246 |
Corporates [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 133,312 | 457,275 |
Securities available for sale, Gross Unrealized Gains | 5 | 902 |
Securities available for sale, Gross Unrealized Losses | -1,208 | -3,441 |
Total securities available for sale, Fair Value | $132,109 | $454,736 |
Summary_of_Contractual_Maturit
Summary of Contractual Maturity Information for Securities Available for Sale (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Due in 1 year or less, Amortized Cost | $466,001 | ' |
Due after 1 year through 5 years, Amortized Cost | 2,299,824 | ' |
Due after 5 years through 10 years, Amortized Cost | 687,956 | ' |
Due after 10 years, Amortized Cost | 120,593 | ' |
Total, Amortized Cost | 3,574,374 | ' |
Mortgage-backed securities, Amortized Cost | 3,182,642 | ' |
Securities available for sale, Amortized Cost | 6,757,016 | 6,814,712 |
Due in 1 year or less, Fair Value | 467,789 | ' |
Due after 1 year through 5 years, Fair Value | 2,311,028 | ' |
Due after 5 years through 10 years, Fair Value | 696,024 | ' |
Due after 10 years, Fair Value | 118,589 | ' |
Total, Fair Value | 3,593,430 | ' |
Mortgage-backed securities, Fair Value | 3,166,373 | ' |
Total securities available for sale, Fair Value | $6,759,803 | $6,762,411 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' |
Proceeds from sales of securities available for sale | $410,580,000 | $678,522,000 | ' |
Gross realized gains from securities | 4,100,000 | 8,800,000 | ' |
Gross realized losses from securities | 11,000 | 220,000 | ' |
Sales of securities held to maturity | 0 | 0 | ' |
Unrealized gains on trading securities | 38,900 | 14,000 | ' |
Fair value of marketable securities | 19,500,000 | ' | 16,600,000 |
Fair value of non-marketable securities | 10,200,000 | ' | 4,700,000 |
Us Government and Other Public Deposit [Member] | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' |
Pledged securities for deposits | 5,100,000,000 | ' | 5,900,000,000 |
Federal Reserve Discount Window [Member] | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' |
Pledged securities for deposits | $1,400,000,000 | ' | $1,700,000,000 |
Gross_Unrealized_Losses_and_Fa
Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months, Fair Value | $2,317,263 | $3,595,354 |
Less than 12 months, Unrealized Losses | -24,786 | -92,244 |
12 months or more, Fair Value | 1,061,473 | 227,554 |
12 months or more, Unrealized Losses | -24,719 | -11,471 |
Total Fair Value | 3,378,736 | 3,822,908 |
Total Unrealized Losses | -49,505 | -103,715 |
U.S. Treasury [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months, Fair Value | 215,360 | 39,822 |
Less than 12 months, Unrealized Losses | -404 | -873 |
12 months or more, Fair Value | 29,471 | ' |
12 months or more, Unrealized Losses | -501 | ' |
Total Fair Value | 244,831 | 39,822 |
Total Unrealized Losses | -905 | -873 |
U.S. Agencies [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months, Fair Value | 407,420 | 675,509 |
Less than 12 months, Unrealized Losses | -604 | -3,130 |
12 months or more, Fair Value | 117,295 | 9,824 |
12 months or more, Unrealized Losses | -1,249 | -176 |
Total Fair Value | 524,715 | 685,333 |
Total Unrealized Losses | -1,853 | -3,306 |
Mortgage-backed [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months, Fair Value | 1,474,931 | 1,945,964 |
Less than 12 months, Unrealized Losses | -23,122 | -60,719 |
12 months or more, Fair Value | 533,596 | 89,147 |
12 months or more, Unrealized Losses | -16,543 | -3,620 |
Total Fair Value | 2,008,527 | 2,035,111 |
Total Unrealized Losses | -39,665 | -64,339 |
State and political subdivisions [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months, Fair Value | 177,480 | 662,225 |
Less than 12 months, Unrealized Losses | -410 | -25,064 |
12 months or more, Fair Value | 294,762 | 87,061 |
12 months or more, Unrealized Losses | -5,464 | -6,692 |
Total Fair Value | 472,242 | 749,286 |
Total Unrealized Losses | -5,874 | -31,756 |
Corporates [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months, Fair Value | 42,072 | 271,834 |
Less than 12 months, Unrealized Losses | -246 | -2,458 |
12 months or more, Fair Value | 86,349 | 41,522 |
12 months or more, Unrealized Losses | -962 | -983 |
Total Fair Value | 128,421 | 313,356 |
Total Unrealized Losses | ($1,208) | ($3,441) |
Securities_Held_to_Maturity_De
Securities Held to Maturity (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held to Maturity, Amortized Cost | $237,961 | $209,770 |
Held to Maturity, Fair value | 270,290 | 231,510 |
State and political subdivisions [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held to Maturity, Amortized Cost | 237,961 | 209,770 |
Held to Maturity, Gross Unrealized Gains | 32,329 | 21,740 |
Held to Maturity, Gross Unrealized Losses | 0 | ' |
Held to Maturity, Fair value | $270,290 | $231,510 |
Contractual_Maturity_Informati
Contractual Maturity Information for Securities Held to Maturity (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Due in 1 year or less, Amortized Cost | $46 | ' |
Due after 1 year through 5 years, Amortized Cost | 26,650 | ' |
Due after 5 years through 10 years, Amortized Cost | 132,268 | ' |
Due after 10 years, Amortized Cost | 78,997 | ' |
Total securities held to maturity, Amortized Cost | 237,961 | 209,770 |
Due in 1 year or less, Fair Value | 52 | ' |
Due after 1 year through 5 years, Fair Value | 30,271 | ' |
Due after 5 years through 10 years, Fair Value | 150,238 | ' |
Due after 10 years, Fair Value | 89,729 | ' |
Total securities held to maturity, Fair Value | $270,290 | $231,510 |
Schedule_of_Federal_Reserve_Ba
Schedule of Federal Reserve Bank Stock and Other Securities (Detail) (Federal Reserve Bank Stock and Other Securities [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Other Securities [Line Items] | ' | ' |
Amortized Cost | $46,118 | $33,438 |
Gross Unrealized Gains | 25,074 | 17,044 |
Gross Unrealized Losses | 0 | ' |
Fair Value | 71,192 | 50,482 |
Federal Reserve Bank Stock [Member] | ' | ' |
Schedule of Other Securities [Line Items] | ' | ' |
Amortized Cost | 16,279 | 16,279 |
Gross Unrealized Gains | 0 | ' |
Gross Unrealized Losses | 0 | ' |
Fair Value | 16,279 | 16,279 |
Other securities - marketable [Member] | ' | ' |
Schedule of Other Securities [Line Items] | ' | ' |
Amortized Cost | 0 | 20 |
Gross Unrealized Gains | 19,472 | 16,612 |
Gross Unrealized Losses | 0 | ' |
Fair Value | 19,472 | 16,632 |
Other securities - non-marketable [Member] | ' | ' |
Schedule of Other Securities [Line Items] | ' | ' |
Amortized Cost | 29,839 | 17,139 |
Gross Unrealized Gains | 5,602 | 432 |
Gross Unrealized Losses | 0 | ' |
Fair Value | $35,441 | $17,571 |
Changes_in_Carrying_Amount_of_
Changes in Carrying Amount of Goodwill (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Beginning Balance | $209,758 | $209,758 | $209,758 |
Ending Balance | 209,758 | 209,758 | 209,758 |
Bank [Member] | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Beginning Balance | 142,753 | 142,753 | 142,753 |
Ending Balance | 142,753 | 142,753 | 142,753 |
Institutional Investment Management [Member] | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Beginning Balance | 47,529 | 47,529 | 47,529 |
Ending Balance | 47,529 | 47,529 | 47,529 |
Asset Servicing [Member] | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Beginning Balance | 19,476 | 19,476 | 19,476 |
Ending Balance | $19,476 | $19,476 | $19,476 |
Changes_in_FiniteLived_Intangi
Changes in Finite-Lived Intangible Assets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $144,304 | $143,704 |
Accumulated Amortization | 97,338 | 88,119 |
Net Carrying Amount | 46,966 | 55,585 |
Core deposit intangible assets [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 36,497 | 36,497 |
Accumulated Amortization | 32,484 | 31,674 |
Net Carrying Amount | 4,013 | 4,823 |
Customer relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 104,560 | 103,960 |
Accumulated Amortization | 62,299 | 54,062 |
Net Carrying Amount | 42,261 | 49,898 |
Other intangible assets [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 3,247 | 3,247 |
Accumulated Amortization | 2,555 | 2,383 |
Net Carrying Amount | $692 | $864 |
Aggregate_Amortization_Expense
Aggregate Amortization Expense Recognized (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Aggregate amortization expense | $3,043 | $3,245 | $9,219 | $10,054 |
Estimated_Amortization_Expense
Estimated Amortization Expense of Intangible Assets (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
For the three months ending December 31, 2014 | $2,974 |
For the year ending December 31, 2015 | 9,636 |
For the year ending December 31, 2016 | 8,428 |
For the year ending December 31, 2017 | 7,185 |
For the year ending December 31, 2018 | 4,994 |
For the year ending December 31, 2019 | $4,204 |
Notional_Amount_of_OffBalance_
Notional Amount of Off-Balance Sheet Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commitments to extend credit for loans (excluding credit card loans) [Member] | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' |
Contract or notional amount of off-balance sheet financial instruments | $3,167,398 | $2,690,268 |
Commitments to extend credit under credit card loans [Member] | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' |
Contract or notional amount of off-balance sheet financial instruments | 2,384,213 | 2,215,278 |
Commercial letters of credit [Member] | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' |
Contract or notional amount of off-balance sheet financial instruments | 1,415 | 5,949 |
Standby letters of credit [Member] | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' |
Contract or notional amount of off-balance sheet financial instruments | 374,109 | 356,054 |
Forward foreign exchange contracts [Member] | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' |
Contract or notional amount of off-balance sheet financial instruments | 66,939 | 21,525 |
Spot foreign exchange contracts [Member] | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' |
Contract or notional amount of off-balance sheet financial instruments | $1,425 | $8,001 |
Business_Segment_Reporting_Add
Business Segment Reporting - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of reportable segments | 4 |
Schedule_of_Segment_Financial_
Schedule of Segment Financial Results (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | $87,526 | $85,545 | $259,141 | $247,355 |
Provision for loan losses | 4,500 | 6,500 | 14,000 | 13,500 |
Noninterest income | 126,475 | 121,625 | 383,440 | 356,226 |
Noninterest expense | 161,461 | 153,063 | 500,213 | 453,752 |
Income before income taxes | 48,040 | 47,607 | 128,368 | 136,329 |
Income tax expense | 12,410 | 13,175 | 34,653 | 37,027 |
Net Income | 35,630 | 34,432 | 93,715 | 99,302 |
Average assets | 15,638,000 | 14,924,000 | 15,921,000 | 14,861,000 |
Bank [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 72,906 | 73,419 | 216,508 | 211,238 |
Provision for loan losses | 2,446 | 1,833 | 7,558 | 3,770 |
Noninterest income | 48,385 | 48,945 | 151,843 | 148,129 |
Noninterest expense | 99,307 | 93,150 | 308,013 | 277,226 |
Income before income taxes | 19,538 | 27,381 | 52,780 | 78,371 |
Income tax expense | 5,081 | 6,922 | 14,326 | 19,629 |
Net Income | 14,457 | 20,459 | 38,454 | 58,742 |
Average assets | 11,639,000 | 11,128,000 | 11,914,000 | 11,145,000 |
Payment Solutions [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 13,442 | 11,587 | 38,220 | 34,327 |
Provision for loan losses | 2,054 | 4,667 | 6,442 | 9,730 |
Noninterest income | 21,579 | 18,409 | 62,998 | 56,486 |
Noninterest expense | 22,056 | 21,658 | 67,680 | 63,626 |
Income before income taxes | 10,911 | 3,671 | 27,096 | 17,457 |
Income tax expense | 2,795 | 1,283 | 7,272 | 5,464 |
Net Income | 8,116 | 2,388 | 19,824 | 11,993 |
Average assets | 2,823,000 | 1,727,000 | 2,350,000 | 1,770,000 |
Institutional Investment Management [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | ' | -11 | -3 | -22 |
Noninterest income | 33,919 | 33,842 | 102,014 | 91,550 |
Noninterest expense | 20,910 | 21,054 | 68,848 | 58,754 |
Income before income taxes | 13,009 | 12,777 | 33,163 | 32,774 |
Income tax expense | 3,350 | 3,506 | 8,887 | 8,880 |
Net Income | 9,659 | 9,271 | 24,276 | 23,894 |
Average assets | 74,000 | 76,000 | 74,000 | 79,000 |
Asset Servicing [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 1,178 | 550 | 4,416 | 1,812 |
Noninterest income | 22,592 | 20,429 | 66,585 | 60,061 |
Noninterest expense | 19,188 | 17,201 | 55,672 | 54,146 |
Income before income taxes | 4,582 | 3,778 | 15,329 | 7,727 |
Income tax expense | 1,184 | 1,464 | 4,168 | 3,054 |
Net Income | 3,398 | 2,314 | 11,161 | 4,673 |
Average assets | $1,102,000 | $1,993,000 | $1,583,000 | $1,867,000 |
Summary_of_Fair_Value_of_Deriv
Summary of Fair Value of Derivative Assets and Liabilities (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives, Fair value | $4,548 | $2,518 |
Liability Derivatives, Fair value | 4,778 | 2,346 |
Derivatives not Designated as Hedging Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives, Fair value | 4,548 | 2,442 |
Liability Derivatives, Fair value | 4,637 | 2,346 |
Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives, Fair value | 0 | 76 |
Liability Derivatives, Fair value | $141 | ' |
Derivatives_and_Hedging_Activi2
Derivatives and Hedging Activities - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Derivative | Derivative | |||
Derivative [Line Items] | ' | ' | ' | ' |
Net loss in other noninterest expense related to hedge ineffectiveness | ($1,000) | ' | ($19,000) | ' |
Termination value of derivatives in net liability position | 24,000 | ' | 24,000 | ' |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of interest rate swaps | 6,700,000 | ' | 6,700,000 | ' |
Number of interest rate swaps | 1 | ' | 1 | ' |
Interest Rate Swap [Member] | Derivatives not Designated as Hedging Instruments [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of interest rate swaps | 343,300,000 | ' | 343,300,000 | ' |
Number of interest rate swaps | 28 | ' | 28 | ' |
Gain (loss) related to changes in fair value of swaps | ($133,000) | ($40,000) | ($185,000) | $114,000 |
Summary_of_Amount_of_Gain_Loss
Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Asset and Liability (Detail) (Interest rate products [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Derivatives not Designated as Hedging Instruments [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments | ($133) | ($40) | ($185) | $114 |
Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments | -1 | ' | -19 | ' |
Designated as Hedging Instrument [Member] | Fair value adjustments on derivatives [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments | 19 | ' | -216 | ' |
Designated as Hedging Instrument [Member] | Fair value adjustments on hedged items [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments | ($20) | ' | $197 | ' |
Assets_Measured_at_Fair_Value_
Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | $31,790 | $28,464 | ' | ' |
Available for sale securities | 6,759,803 | 6,762,411 | ' | ' |
Derivatives | 4,548 | 2,518 | ' | ' |
Contingent consideration liability | 54,259 | 46,201 | 39,315 | 51,163 |
Derivatives | 4,778 | 2,346 | ' | ' |
Fair Value Measurement, Recurring [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 31,790 | 28,464 | ' | ' |
Available for sale securities | 6,759,803 | 6,762,411 | ' | ' |
Company-owned life insurance | 26,748 | 19,619 | ' | ' |
Derivatives | 4,548 | 2,518 | ' | ' |
Total | 6,822,889 | 6,813,012 | ' | ' |
Deferred compensation | 26,188 | 19,825 | ' | ' |
Contingent consideration liability | 54,259 | 46,201 | ' | ' |
Derivatives | 4,778 | 2,346 | ' | ' |
Total | 85,225 | 68,372 | ' | ' |
Fair Value Measurement, Recurring [Member] | Trading - other [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 18,380 | 24,477 | ' | ' |
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 500 | 400 | ' | ' |
Available for sale securities | 510,217 | 110,200 | ' | ' |
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 985,423 | 1,257,663 | ' | ' |
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 3,922 | 515 | ' | ' |
Available for sale securities | 3,166,373 | 2,944,566 | ' | ' |
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 8,988 | 3,072 | ' | ' |
Available for sale securities | 1,965,681 | 1,995,246 | ' | ' |
Fair Value Measurement, Recurring [Member] | Corporates [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 132,109 | 454,736 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 18,880 | 24,877 | ' | ' |
Available for sale securities | 642,326 | 564,936 | ' | ' |
Company-owned life insurance | 0 | ' | ' | ' |
Derivatives | 0 | ' | ' | ' |
Total | 661,206 | 589,813 | ' | ' |
Deferred compensation | 26,188 | 19,825 | ' | ' |
Contingent consideration liability | 0 | ' | ' | ' |
Derivatives | 0 | ' | ' | ' |
Total | 26,188 | 19,825 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | Trading - other [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 18,380 | 24,477 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 500 | 400 | ' | ' |
Available for sale securities | 510,217 | 110,200 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | Corporates [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 132,109 | 454,736 | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 12,910 | 3,587 | ' | ' |
Available for sale securities | 6,117,477 | 6,197,475 | ' | ' |
Company-owned life insurance | 26,748 | 19,619 | ' | ' |
Derivatives | 4,548 | 2,518 | ' | ' |
Total | 6,161,683 | 6,223,199 | ' | ' |
Deferred compensation | 0 | ' | ' | ' |
Contingent consideration liability | 0 | ' | ' | ' |
Derivatives | 4,778 | 2,346 | ' | ' |
Total | 4,778 | 2,346 | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Trading - other [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 985,423 | 1,257,663 | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 3,922 | 515 | ' | ' |
Available for sale securities | 3,166,373 | 2,944,566 | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 8,988 | 3,072 | ' | ' |
Available for sale securities | 1,965,681 | 1,995,246 | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Corporates [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Company-owned life insurance | 0 | ' | ' | ' |
Derivatives | 0 | ' | ' | ' |
Total | 0 | ' | ' | ' |
Deferred compensation | 0 | ' | ' | ' |
Contingent consideration liability | 54,259 | 46,201 | ' | ' |
Derivatives | 0 | ' | ' | ' |
Total | 54,259 | 46,201 | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | Trading - other [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Trading securities | 0 | ' | ' | ' |
Available for sale securities | 0 | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | Corporates [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | $0 | ' | ' | ' |
Reconciliation_of_Beginning_an
Reconciliation of Beginning and Ending Balances of Contingent Consideration Liability (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Fair Value Disclosures [Abstract] | ' | ' |
Beginning Balance | $46,201 | $51,163 |
Contingency reserve | 14,272 | ' |
Payment of contingent considerations on acquisitions | -13,725 | -16,172 |
Income from fair value adjustments | ' | -138 |
Expense from fair value adjustments | 7,511 | 4,462 |
Ending Balance | $54,259 | $39,315 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended |
Jun. 30, 2014 | Sep. 30, 2014 | |
Fair Value Disclosures [Abstract] | ' | ' |
Contingency reserve expense | ' | $20,272,000 |
Payments against liability | 6,000,000 | ' |
Remaining contingency reserve | ' | $14,272,000 |
Quantitative_Information_about
Quantitative Information about Significant Unobservable Input used in Fair Value Measurement for Contingent Consideration Liability Measured at Fair Value on Recurring Basis (Detail) (Significant Unobservable Inputs (Level 3) [Member]) | 9 Months Ended |
Sep. 30, 2014 | |
Minimum [Member] | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' |
Revenue growth percentage | 1.00% |
Maximum [Member] | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' |
Revenue growth percentage | 98.00% |
Assets_Measured_at_Fair_Value_1
Assets Measured at Fair Value on Non-Recurring Basis (Detail) (Fair Value, Measurements, Non-Recurring [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | $13,759 | $15,825 |
Impaired loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 13,621 | 15,496 |
Other real estate owned [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 138 | 329 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 0 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 0 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other real estate owned [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 0 | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 0 | ' |
Significant Other Observable Inputs (Level 2) [Member] | Impaired loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 0 | ' |
Significant Other Observable Inputs (Level 2) [Member] | Other real estate owned [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 0 | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 13,759 | 15,825 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 13,621 | 15,496 |
Significant Unobservable Inputs (Level 3) [Member] | Other real estate owned [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 138 | 329 |
Total Gains (Losses) Recognized [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 632 | -2,621 |
Total Gains (Losses) Recognized [Member] | Impaired loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | 632 | -2,496 |
Total Gains (Losses) Recognized [Member] | Other real estate owned [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value | $0 | ($125) |
Estimated_Fair_Value_of_Financ
Estimated Fair Value of Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities held to maturity | $237,961,000 | $209,770,000 |
Federal Reserve Bank and other | 71,192,000 | 50,482,000 |
Loans (exclusive of allowance for loan loss) | 7,104,900,000 | 6,521,900,000 |
Time deposits | 961,100,000 | 1,449,600,000 |
Long-term debt | 7,067,000 | 5,055,000 |
Total Estimated Fair Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities held to maturity | 270,300,000 | 231,500,000 |
Federal Reserve Bank and other | 71,200,000 | 50,500,000 |
Loans (exclusive of allowance for loan loss) | 7,136,300,000 | 6,571,600,000 |
Time deposits | 960,700,000 | 1,449,400,000 |
Long-term debt | 7,300,000 | 4,500,000 |
Commitments to extend credit for loans | 4,300,000 | 6,000,000 |
Commercial letters of credit | 100,000 | 100,000 |
Standby letters of credit | 1,800,000 | 2,000,000 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities held to maturity | 270,300,000 | 231,500,000 |
Federal Reserve Bank and other | 71,200,000 | 50,500,000 |
Loans (exclusive of allowance for loan loss) | 7,136,300,000 | 6,571,600,000 |
Time deposits | 960,700,000 | 1,449,400,000 |
Long-term debt | $7,300,000 | $4,500,000 |