Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 27, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | UMBF | |
Entity Registrant Name | UMB FINANCIAL CORP | |
Entity Central Index Key | 101,382 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 50,096,718 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Loans | $ 11,631,628 | $ 11,280,513 |
Allowance for loan losses | (98,298) | (100,604) |
Net loans | 11,533,330 | 11,179,909 |
Loans held for sale | 3,482 | 1,460 |
Securities: | ||
Available for sale | 6,011,684 | 6,258,577 |
Held to maturity (fair value of $1,103,937 and $1,207,447, respectively) | 1,204,582 | 1,261,014 |
Trading securities | 67,091 | 54,055 |
Other securities | 66,547 | 65,897 |
Total investment securities | 7,349,904 | 7,639,543 |
Federal funds sold and securities purchased under agreements to resell | 70,346 | 191,601 |
Interest-bearing due from banks | 113,875 | 1,351,760 |
Cash and due from banks | 379,433 | 392,723 |
Premises and equipment, net | 274,408 | 275,942 |
Accrued income | 100,133 | 98,863 |
Goodwill | 180,867 | 180,867 |
Other intangibles, net | 17,210 | 20,257 |
Other assets | 508,482 | 438,658 |
Total assets | 20,531,470 | 21,771,583 |
Deposits: | ||
Noninterest-bearing demand | 5,994,426 | 6,839,171 |
Interest-bearing demand and savings | 9,471,698 | 9,903,565 |
Time deposits under $250,000 | 512,446 | 547,990 |
Time deposits of $250,000 or more | 407,508 | 732,274 |
Total deposits | 16,386,078 | 18,023,000 |
Federal funds purchased and repurchase agreements | 1,666,158 | 1,260,704 |
Long-term debt | 78,692 | 79,281 |
Accrued expenses and taxes | 147,608 | 191,464 |
Other liabilities | 51,122 | 35,603 |
Total liabilities | 18,329,658 | 19,590,052 |
SHAREHOLDERS' EQUITY | ||
Common stock, $1.00 par value; 80,000,000 shares authorized; 55,056,730 shares issued; and 50,086,844 and 49,894,990 shares outstanding, respectively | 55,057 | 55,057 |
Capital surplus | 1,050,660 | 1,046,095 |
Retained earnings | 1,434,342 | 1,338,110 |
Accumulated other comprehensive loss, net | (128,959) | (45,525) |
Treasury stock, 4,969,886 and 5,161,740 shares, at cost, respectively | (209,288) | (212,206) |
Total shareholders' equity | 2,201,812 | 2,181,531 |
Total liabilities and shareholders' equity | $ 20,531,470 | $ 21,771,583 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Held to Maturity, Fair value | $ 1,103,937 | $ 1,207,447 |
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 | 50,086,844 | 49,894,990 |
Treasury stock, shares | 4,969,886 | 5,161,740 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
INTEREST INCOME | ||||
Loans | $ 135,150 | $ 112,724 | $ 261,284 | $ 219,284 |
Securities: | ||||
Taxable interest | 20,523 | 18,441 | 40,303 | 37,631 |
Tax-exempt interest | 18,290 | 18,296 | 36,993 | 35,479 |
Total securities income | 38,813 | 36,737 | 77,296 | 73,110 |
Federal funds and resell agreements | 752 | 711 | 1,790 | 1,630 |
Interest-bearing due from banks | 1,056 | 580 | 2,636 | 1,131 |
Trading securities | 709 | 459 | 1,139 | 746 |
Total interest income | 176,480 | 151,211 | 344,145 | 295,901 |
INTEREST EXPENSE | ||||
Deposits | 18,334 | 7,835 | 32,169 | 13,801 |
Federal funds and repurchase agreements | 6,666 | 4,994 | 11,398 | 8,463 |
Other | 1,254 | 988 | 2,430 | 1,928 |
Total interest expense | 26,254 | 13,817 | 45,997 | 24,192 |
Net interest income | 150,226 | 137,394 | 298,148 | 271,709 |
Provision for loan losses | 7,000 | 14,500 | 17,000 | 23,500 |
Net interest income after provision for loan losses | 143,226 | 122,894 | 281,148 | 248,209 |
NONINTEREST INCOME | ||||
Trading and investment banking | 4,653 | 6,173 | 8,754 | 13,715 |
Gain on sales of securities available for sale, net | 228 | 1,280 | 367 | 1,748 |
Other | 8,026 | 8,675 | 18,627 | 15,191 |
Total noninterest income | 100,289 | 110,306 | 205,814 | 213,223 |
NONINTEREST EXPENSE | ||||
Salaries and employee benefits | 104,175 | 102,773 | 212,143 | 206,425 |
Occupancy, net | 10,813 | 11,061 | 21,766 | 22,029 |
Equipment | 18,842 | 17,956 | 37,668 | 35,438 |
Supplies and services | 4,146 | 4,792 | 7,906 | 8,886 |
Marketing and business development | 6,184 | 5,732 | 11,218 | 9,873 |
Processing fees | 11,537 | 10,743 | 22,698 | 19,942 |
Legal and consulting | 6,460 | 6,467 | 10,304 | 11,517 |
Bankcard | 4,165 | 5,033 | 8,791 | 9,936 |
Amortization of other intangible assets | 1,485 | 1,924 | 3,047 | 3,970 |
Regulatory fees | 3,772 | 4,071 | 6,677 | 7,904 |
Other | 5,639 | 6,387 | 10,876 | 14,829 |
Total noninterest expense | 177,218 | 176,939 | 353,094 | 350,749 |
Income before income taxes | 66,297 | 56,261 | 133,868 | 110,683 |
Income tax expense | 10,873 | 11,490 | 20,911 | 23,936 |
Income from continuing operations | 55,424 | 44,771 | 112,957 | 86,747 |
Discontinued Operations | ||||
(Loss) income from discontinued operations before income taxes | (2,599) | (917) | 308 | |
Income tax (benefit) expense | (649) | (170) | 53 | |
(Loss) income from discontinued operations | (1,950) | (747) | 255 | |
NET INCOME | $ 55,424 | $ 42,821 | $ 112,210 | $ 87,002 |
Basic: | ||||
Income from continuing operations | $ 1.12 | $ 0.91 | $ 2.28 | $ 1.76 |
(Loss) income from discontinued operations | (0.04) | (0.01) | 0.01 | |
Net income – basic | 1.12 | 0.87 | 2.27 | 1.77 |
Diluted: | ||||
Income from continuing operations | 1.11 | 0.90 | 2.26 | 1.74 |
(Loss) income from discontinued operations | (0.04) | (0.01) | 0.01 | |
Net income - diluted | 1.11 | 0.86 | 2.25 | 1.75 |
Dividends | $ 0.290 | $ 0.255 | $ 0.580 | $ 0.510 |
Weighted average shares outstanding - basic | 49,551,920 | 49,269,786 | 49,486,626 | 49,190,271 |
Weighted average shares outstanding - diluted | 50,007,022 | 49,848,903 | 49,973,992 | 49,829,193 |
Trust and Securities Processing [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | $ 42,845 | $ 44,811 | $ 86,847 | $ 87,352 |
Service Charges On Deposit Accounts [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | 20,722 | 22,731 | 42,627 | 44,806 |
Insurance Fees and Commissions [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | 340 | 513 | 641 | 1,159 |
Brokerage Fees [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | 6,291 | 5,889 | 12,644 | 11,266 |
Bankcard Fees [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | $ 17,184 | $ 20,234 | $ 35,307 | $ 37,986 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Statement Of Income And Comprehensive Income [Abstract] | |||||
Net income | $ 55,424 | $ 42,821 | $ 112,210 | $ 87,002 | |
Unrealized gains and losses on debt securities: | |||||
Change in unrealized holding gains and losses, net | (16,020) | 35,311 | (96,682) | 57,582 | |
Less: Reclassification adjustment for gains included in net income | (228) | (1,280) | (367) | (1,748) | |
Change in unrealized gains and losses on debt securities during the period | (16,248) | 34,031 | (97,049) | 55,834 | |
Change in unrealized gains and losses on derivative hedges | 910 | (1,157) | 3,112 | (911) | |
Income tax benefit (expense) | 3,770 | (12,340) | 23,552 | (21,006) | |
Other comprehensive (loss) income before reclassifications | (11,568) | 20,534 | (70,385) | 33,917 | |
Amounts reclassified from accumulated other comprehensive income | [1],[2] | (13,049) | |||
Net current-period other comprehensive (loss) income | (11,568) | 20,534 | (83,434) | 33,917 | |
Comprehensive income | $ 43,856 | $ 63,355 | $ 28,776 | $ 120,919 | |
[1] | See Note 3, “New Accounting Pronouncements,” for discussion of the Company’s adoption of ASU No. 2018-02. | ||||
[2] | See Note 3, “New Accounting Pronouncements,” for discussion of the Company’s adoption of Accounting Standards Update (ASU) No. 2016-01. |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive Loss | Treasury Stock | |
Beginning Balance at Dec. 31, 2016 | $ 1,962,384 | $ 55,057 | $ 1,033,419 | $ 1,142,887 | $ (57,542) | $ (211,437) | |
Total comprehensive income (loss) | 120,919 | 87,002 | 33,917 | ||||
Dividends | (25,453) | (25,453) | |||||
Purchase of treasury stock | (4,279) | (4,279) | |||||
Issuance of equity awards | 472 | (3,929) | 4,401 | ||||
Recognition of equity-based compensation | 6,243 | 6,243 | |||||
Sale of treasury stock | 565 | 321 | 244 | ||||
Exercise of stock options | 10,268 | 1,844 | 8,424 | ||||
Ending Balance at Jun. 30, 2017 | 2,071,119 | 55,057 | 1,037,898 | 1,204,436 | (23,625) | (202,647) | |
Beginning Balance at Dec. 31, 2017 | 2,181,531 | 55,057 | 1,046,095 | 1,338,110 | (45,525) | (212,206) | |
Total comprehensive income (loss) | 28,776 | 112,210 | (83,434) | ||||
Reclassification of certain tax effects | [1] | 12,917 | 12,917 | ||||
Dividends | (29,040) | (29,040) | |||||
Purchase of treasury stock | (6,211) | (6,211) | |||||
Issuance of equity awards | 494 | (2,457) | 2,951 | ||||
Recognition of equity-based compensation | 5,201 | 5,201 | |||||
Sale of treasury stock | 553 | 278 | 275 | ||||
Exercise of stock options | 7,446 | 1,543 | 5,903 | ||||
Cumulative effect adjustment | ASU Nos. 2016-01 and 2017-12 [Member] | [2] | 145 | 145 | ||||
Ending Balance at Jun. 30, 2018 | $ 2,201,812 | $ 55,057 | $ 1,050,660 | $ 1,434,342 | $ (128,959) | $ (209,288) | |
[1] | Related to the adoption of ASU No. 2018-02. See Note 3, “New Accounting Pronouncements,” for further detail. | ||||||
[2] | Related to the adoption of ASU Nos. 2016-01 and 2017-12. See Note 3, “New Accounting Pronouncements,” for further detail. |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement Of Stockholders Equity [Abstract] | ||||
Dividends, per share | $ 0.290 | $ 0.255 | $ 0.580 | $ 0.510 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
OPERATING ACTIVITIES | ||
Net income | $ 112,210 | $ 87,002 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 17,000 | 23,500 |
Net accretion of premiums and discounts from acquisition | (184) | (1,691) |
Depreciation and amortization | 26,544 | 28,535 |
Deferred income tax benefit | (34,703) | (1,737) |
Net increase in trading securities and other earning assets | (14,742) | (19,209) |
Gains on sales of securities available for sale, net | (367) | (1,748) |
Losses on sales of assets | 212 | 19 |
Amortization of securities premiums, net of discount accretion | 22,647 | 24,139 |
Originations of loans held for sale | (25,502) | (32,809) |
Gains on sales of loans held for sale, net | (550) | (745) |
Proceeds from sales of loans held for sale | 24,030 | 35,390 |
Equity-based compensation | 5,695 | 6,715 |
Net tax benefit related to equity compensation plans | 2,059 | 3,100 |
Changes in: | ||
Accrued income | (1,270) | (77) |
Accrued expenses and taxes | (43,856) | (11,497) |
Other assets and liabilities, net | 9,592 | (19,640) |
Net cash provided by operating activities | 98,815 | 119,247 |
INVESTING ACTIVITIES | ||
Proceeds from maturities of securities held to maturity | 66,253 | 32,812 |
Proceeds from sales of securities available for sale | 41,272 | 271,824 |
Proceeds from maturities of securities available for sale | 599,647 | 741,395 |
Purchases of securities held to maturity | (10,307) | (197,425) |
Purchases of securities available for sale | (515,636) | (733,530) |
Net increase in loans | (373,358) | (322,944) |
Net decrease in fed funds sold and resell agreements | 121,255 | 139,806 |
Net cash activity from acquisitions and divestitures | 2,874 | (1,954) |
Net decrease in interest bearing balances due from other financial institutions | 7,336 | 24,285 |
Purchases of premises and equipment | (22,152) | (11,323) |
Proceeds from sales of premises and equipment | 26 | 33 |
Proceeds from bank-owned life insurance death benefit | 16 | |
Net cash used in investing activities | (82,774) | (57,021) |
FINANCING ACTIVITIES | ||
Net decrease in demand and savings deposits | (1,276,612) | (572,374) |
Net (decrease) increase in time deposits | (360,310) | 98,426 |
Net increase in fed funds purchased and repurchase agreements | 405,454 | 29,433 |
Repayment of long-term debt | (1,138) | (1,226) |
Cash dividends paid | (29,062) | (25,456) |
Proceeds from exercise of stock options and sales of treasury shares | 7,999 | 10,833 |
Purchases of treasury stock | (6,211) | (4,279) |
Net cash used in financing activities | (1,259,880) | (464,643) |
Decrease in cash and cash equivalents | (1,243,839) | (402,417) |
Cash and cash equivalents at beginning of period | 1,716,262 | 1,063,967 |
Cash and cash equivalents at end of period | 472,423 | 661,550 |
Supplemental Disclosures: | ||
Income taxes paid | 51,701 | 20,679 |
Total interest paid | $ 43,901 | $ 23,633 |
Financial Statement Presentatio
Financial Statement Presentation | 6 Months Ended |
Jun. 30, 2018 | |
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 the elimination of all intercompany transactions. In the opinion of management of the Company, all adjustments relating to items that are 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 ending December 31, 2018. The financial statements should be read in conjunction with “Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations” within this Quarterly Report on Form 10-Q (the Form 10-Q) and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed with the Securities and Exchange Commission (SEC) on February 22, 2018 (the Form 10-K). 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. The Company’s national bank, UMB Bank, National Association (the Bank), has its principal office in Missouri and also has branches in Arizona, Colorado, Illinois, Kansas, Nebraska, Oklahoma, and Texas. The Company also has offices in Pennsylvania, South Dakota, Indiana, Utah, Minnesota, California, and Wisconsin. Until November 17, 2017, the Company owned Scout Investments, Inc. (Scout), an institutional asset-management company that offered domestic and international equity strategies. On November 17, 2017, the Company closed on the sale of Scout to Carillon Tower Advisers, Inc., a Florida corporation, for a purchase price of approximately $172.5 million, after giving effect to customary purchase price adjustments. In accordance with Accounting Standards Codification (ASC) Topic 205-20, Discontinued Operations |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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 provided in the Notes to Consolidated Financial Statements in the Form 10-K. Cash and cash equivalents Cash and cash equivalents includes Cash and due from banks and amounts due from the Federal Reserve Bank (FRB). Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the FRB 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 Statements of Cash Flows as of June 30, 2018 and June 30, 2017 (in thousands) June 30, 2018 2017 Due from the FRB $ 92,990 $ 282,402 Cash and due from banks 379,433 379,148 Cash and cash equivalents at end of period $ 472,423 $ 661,550 Also included in the Interest-bearing due from banks, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $20.9 million and $49.7 million at June 30, 2018 and June 30, 2017, respectively. Per Share Data Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 455,102 and 579,116 shares issuable upon the exercise of options granted by the Company and outstanding at June 30, 2018 and 2017, respectively. Diluted year-to-date net income per share includes the dilutive effect of 487,366 and 638,922 shares issuable upon the exercise of options granted by the Company and outstanding at June 30, 2018 and 2017, respectively. Options issued under employee benefits plans to purchase 137,630 and 150,739 shares of common stock were outstanding at June 30, 2018 and 2017, respectively, but were not included in the computation of quarter-to-date and year-to-date diluted earnings per share because the options were anti-dilutive. Derivatives The Company records all derivatives on the Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Currently, three of the Company’s derivatives are designated in qualifying hedging relationships. However, the remainder of the Company’s derivatives are not designated in qualifying hedging relationships, as the derivatives are not used to manage risks within the Company’s assets or liabilities. All changes in fair value of the Company’s non-designated derivatives are recognized directly in earnings. Changes in fair value of the Company’s fair value hedges are recognized directly in earnings. Changes in fair value of the Company’s cash flow hedges are recognized in accumulated other comprehensive income (AOCI). |
New Accounting Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
New Accounting Pronouncements | 3. New Accounting Pronouncements Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09, “Revenue from Contracts with Customers.” The ASU replaced most existing revenue recognition guidance in U.S. GAAP when it became effective. In August 2015, the FASB issued ASU No. 2015-14, which deferred the effective date of ASU No. 2014-09 to annual reporting periods that begin after December 15, 2017. In March, April, and May 2016, the FASB issued implementation amendments to the May 2014 ASU (collectively, the amended guidance). The amended guidance affects any entity that enters into contracts with customers to transfer goods and services, unless those contracts are within the scope of other standards. The amended guidance specifically excludes interest income, as well as other revenues associated with financial assets and liabilities, including loans, leases, securities, and derivatives. The amended guidance permits the use of either the full retrospective approach or a modified retrospective approach. The Company adopted the amended guidance using the modified retrospective approach on January 1, 2018. The adoption of this guidance had no impact on the Company’s Consolidated Financial Statements, except for additional financial statement disclosures. See Note 9, “Revenue Recognition” for related disclosures. Financial Instruments In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendment is intended to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this update were adopted on January 1, 2018. Upon adoption, the Company recorded a cumulative effect adjustment to the Company’s Consolidated Balance Sheets of $132 thousand as an increase to the opening balance of total shareholders’ equity. Leases In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The amendment changes the accounting treatment of leases, in that lessees will recognize most leases on-balance sheet. This will increase reported assets and liabilities, as lessees will be required to recognize a right-of-use asset along with a lease liability, measured on a discounted basis. Lessees are allowed to account for short-term leases (those with a term of twelve months or less) off-balance sheet. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The standard requires the use of the modified retrospective transition method. Early adoption is permitted. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements. Extinguishments of Liabilities In March 2016, the FASB issued ASU No. 2016-04, “Recognition of Breakage for Certain Prepaid Stored-Value Products.” The amendment is intended to reduce the diversity in practice related to the recognition of breakage. Breakage refers to the portion of a prepaid stored-value product, such as a gift card, that goes unused wholly or partially for an indefinite period of time. This amendment requires that breakage be accounted for consistent with the breakage guidance within ASU No. 2014-09, “Revenue from Contracts with Customers.” The amendments in this update were adopted January 1, 2018 in conjunction with the adoption of ASU 2014-09, and the adoption had no impact on the Company’s Consolidated Financial Statements. Credit Losses In September 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This update replaces the current incurred loss methodology for recognizing credit losses with a current expected credit loss model, which requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This amendment broadens the information that an entity must consider in developing its expected credit loss estimates. Additionally, the update amends the accounting for credit losses for available-for-sale debt securities and purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. This update requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of a company’s loan portfolio. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption in fiscal years beginning after December 15, 2018 is permitted. The amendment requires the use of the modified retrospective approach for adoption. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements. Statement of Cash Flows In August 2016, the FASB issued ASU 2016-15 “Classification of Certain Receipts and Cash Payments.” This amendment adds to and clarifies existing guidance regarding the classification of certain cash receipts and payments in the statement of cash flows with the intent of reducing diversity in practice with respect to eight types of cash flows. The amendments in this update require full retrospective adoption. The amendments in this update were adopted on January 1, 2018 and did not have an impact on the Company’s Consolidated Financial Statements. Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, “Targeted Improvements to Accounting for Hedging Activities.” The purpose of this updated guidance is to better align financial reporting for hedging activities with the economic objectives of those activities. The amendments in this update are effective for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted, and require the modified retrospective transition approach as of the date of adoption. The Company early adopted ASU 2017-12 with an effective date of January 1, 2018. Upon adoption, the Company recorded a cumulative effect adjustment to the Company’s Consolidated Balance Sheets of $13 thousand as an increase to the opening balance of total shareholders’ equity. Comprehensive Income In February 2018, the FASB issued ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” Under existing U.S. GAAP, the effects of changes in tax rates and laws on deferred tax balances are recorded as a component of income tax expense in the period in which the law was enacted. When deferred tax balances related to items originally recorded in AOCI are adjusted, certain tax effects become stranded in AOCI. This amendment allows a reclassification from AOCI to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the Tax Act), and requires certain disclosures about stranded tax effects. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption, including adoption in any interim period, is permitted. The Company early adopted ASU 2018-02 using a security-by-security approach with an effective date of January 1, 2018. Upon adoption, the Company reclassified stranded tax effects totaling $12.9 million from AOCI to retained earnings. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
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. Authority levels are established for the extension of credit to ensure consistency throughout the Company. It is necessary that policies, processes and practices implemented to control the risks of individual credit transactions and portfolio segments are sound and adhered to. 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. Asset-based loans are offered primarily in the form of revolving lines of credit to commercial borrowers that do not generally qualify for traditional bank financing. Asset-based loans are underwritten based primarily upon the value of the collateral pledged to secure the loan, rather than on the borrower’s general financial condition. The Company utilizes pre-loan due diligence techniques, monitoring disciplines, and loan management practices common within the asset-based lending industry to underwrite loans to these borrowers. Factoring loans provide working capital through the purchase and/or financing of accounts receivable to borrowers in the transportation industry and to commercial borrowers that do not generally qualify for traditional bank financing. 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 that 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, 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. Credit risk is a potential loss resulting from nonpayment of either the primary or secondary exposure. Credit risk is mitigated with formal risk management practices and a thorough initial credit-granting process including consistent underwriting standards and approval process. Control factors or techniques to minimize credit risk include knowing the client, understanding total exposure, analyzing the client and debtor’s financial capacity, and monitoring the client’s activities. Credit risk and portions of the portfolio risk are managed through concentration considerations, average risk ratings, and other aggregate characteristics. Loan Aging Analysis This table provides a summary of loan classes and an aging of past due loans at June 30, 2018 and December 31, 2017 (in thousands): June 30, 2018 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due Current Total Loans Loans Commercial: Commercial $ 5,709 $ 819 $ 37,568 $ 44,096 $ 4,592,913 $ 4,637,009 Asset-based — — — — 368,328 368,328 Factoring — — — — 249,351 249,351 Commercial – credit card 676 36 — 712 186,379 187,091 Real estate: Real estate – construction — — — — 789,458 789,458 Real estate – commercial 3,335 — 14,245 17,580 3,731,046 3,748,626 Real estate – residential 331 — 683 1,014 686,250 687,264 Real estate – HELOC 791 — 3,089 3,880 575,024 578,904 Consumer: Consumer – credit card 1,875 1,856 407 4,138 223,187 227,325 Consumer – other 151 172 38 361 137,913 138,274 Leases — — — — 19,998 19,998 Total loans $ 12,868 $ 2,883 $ 56,030 $ 71,781 $ 11,559,847 $ 11,631,628 December 31, 2017 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due Current Total Loans Loans Commercial: Commercial $ 11,216 $ 672 $ 38,644 $ 50,532 $ 4,502,508 $ 4,553,040 Asset-based — — — — 336,614 336,614 Factoring — — — — 221,672 221,672 Commercial – credit card 387 79 — 466 171,825 172,291 Real estate: Real estate – construction 6,666 243 93 7,002 710,847 717,849 Real estate – commercial 832 — 16,115 16,947 3,546,683 3,563,630 Real estate – residential 791 — 929 1,720 636,871 638,591 Real estate – HELOC 1,254 — 3,013 4,267 644,112 648,379 Consumer: Consumer – credit card 2,155 2,057 312 4,524 248,173 252,697 Consumer – other 835 40 36 911 150,872 151,783 Leases — — — — 23,967 23,967 Total loans $ 24,136 $ 3,091 $ 59,142 $ 86,369 $ 11,194,144 $ 11,280,513 The Company sold residential real estate loans with proceeds of $24.0 million and $35.4 million in the secondary market without recourse during the six months ended June 30, 2018 and June 30, 2017, respectively. The Company has ceased the recognition of interest on loans with a carrying value of $56.0 million and $59.1 million at June 30, 2018 and December 31, 2017, respectively. Restructured loans totaled $21.1 million and $41.0 million at June 30, 2018 and December 31, 2017, respectively. Loans 90 days past due and still accruing interest amounted to $2.9 million and $3.1 million at June 30, 2018 and December 31, 2017, respectively. There was an insignificant amount of interest recognized on impaired loans during 2018 and 2017. 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 ratings 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. A description of the general characteristics of the loan rating 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 borrower’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 current sound 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 Company 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 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 excluded from ASC 310-30, Loans and Debt Securities Purchased with Deteriorated Credit Quality (in thousands) Credit Exposure Credit Risk Profile by Risk Rating Commercial Asset-based Factoring June 30, December 31, June 30, December 31, June 30, December 31, 2018 2017 2018 2017 2018 2017 Non-watch list $ 4,142,433 $ 4,048,238 $ 291,213 $ 306,899 $ 249,163 $ 220,795 Watch 161,466 162,788 — — — — Special Mention 117,253 106,638 77,115 29,715 188 47 Substandard 215,857 235,376 — — — 830 Total $ 4,637,009 $ 4,553,040 $ 368,328 $ 336,614 $ 249,351 $ 221,672 Real estate – construction Real estate – commercial June 30, December 31, June 30, December 31, 2018 2017 2018 2017 Non-watch list $ 787,424 $ 716,830 $ 3,594,253 $ 3,434,982 Watch 1,841 631 55,776 50,715 Special Mention — — 34,051 35,940 Substandard 193 388 64,546 41,993 Total $ 789,458 $ 717,849 $ 3,748,626 $ 3,563,630 Credit Exposure Credit Risk Profile Based on Payment Activity Commercial – credit card Real estate – residential Real estate – HELOC June 30, December 31, June 30, December 31, June 30, December 31, 2018 2017 2018 2017 2018 2017 Performing $ 187,091 $ 172,291 $ 686,581 $ 637,662 $ 575,815 $ 645,366 Non-performing — — 683 929 3,089 3,013 Total $ 187,091 $ 172,291 $ 687,264 $ 638,591 $ 578,904 $ 648,379 Consumer – credit card Consumer – other Leases June 30, December 31, June 30, December 31, June 30, December 31, 2018 2017 2018 2017 2018 2017 Performing $ 226,918 $ 252,385 $ 138,236 $ 151,747 $ 19,998 $ 23,967 Non-performing 407 312 38 36 — — Total $ 227,325 $ 252,697 $ 138,274 $ 151,783 $ 19,998 $ 23,967 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 at the time, 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 rating 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. Generally, the unsecured portion of a commercial or commercial real estate loan is charged off when, after analyzing the borrower’s financial condition, it is determined that the borrower is incapable of servicing the debt, little or no prospect for near term improvement exists, and no realistic and significant strengthening action is pending. For collateral dependent commercial or commercial real estate loans, an analysis is completed regarding the Company’s collateral position to determine if the amounts due from the borrower are in excess of the calculated current fair value of the collateral. Specific allocations of the allowance for loan losses are made for any collateral deficiency. If a collateral deficiency is ultimately deemed to be uncollectible, the amount is charged off. Revolving commercial loans (such as commercial credit cards) which are past due 90 cumulative days are classified as a loss and charged off. Generally, a consumer loan, or a portion thereof, is charged off in accordance with regulatory guidelines which provide that such loans be charged off when the Company becomes aware of the loss, such as from a triggering event that may include, but is not limited to, new information about a borrower’s intent and ability to repay the loan, bankruptcy, fraud, or death. However, the charge-off timeframe should not exceed the specified delinquency time frames, which state that closed-end retail loans (such as real estate mortgages, home equity loans and consumer installment loans) that become past due 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 six months ended June 30, 2018 (in thousands): Three Months Ended June 30, 2018 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 81,057 $ 9,738 $ 9,460 $ 47 $ 100,302 Charge-offs (6,616 ) (1,108 ) (2,553 ) — (10,277 ) Recoveries 479 73 721 — 1,273 Provision 2,171 3,523 1,312 (6 ) 7,000 Ending balance $ 77,091 $ 12,226 $ 8,940 $ 41 $ 98,298 Six Months Ended June 30, 2018 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 81,156 $ 9,312 $ 10,083 $ 53 $ 100,604 Charge-offs (13,934 ) (2,850 ) (5,253 ) — (22,037 ) Recoveries 950 303 1,478 — 2,731 Provision 8,919 5,461 2,632 (12 ) 17,000 Ending balance $ 77,091 $ 12,226 $ 8,940 $ 41 $ 98,298 Ending balance: individually evaluated for impairment $ 4,340 $ 121 $ — $ — $ 4,461 Ending balance: collectively evaluated for impairment 72,751 12,105 8,940 41 93,837 Loans: Ending balance: loans $ 5,441,779 $ 5,804,252 $ 365,599 $ 19,998 $ 11,631,628 Ending balance: individually evaluated for impairment 41,556 10,791 — — 52,347 Ending balance: collectively evaluated for impairment 5,400,223 5,793,461 365,599 19,998 11,579,281 This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2017 (in thousands): Three Months Ended June 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 73,197 $ 10,512 $ 9,510 $ 104 $ 93,323 Charge-offs (9,602 ) (263 ) (2,624 ) — (12,489 ) Recoveries 1,631 358 474 — 2,463 Provision 11,632 1,298 1,601 (31 ) 14,500 Ending balance $ 76,858 $ 11,905 $ 8,961 $ 73 $ 97,797 Six Months Ended June 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 71,657 $ 10,569 $ 9,311 $ 112 $ 91,649 Charge-offs (15,583 ) (449 ) (5,161 ) — (21,193 ) Recoveries 2,329 419 1,093 — 3,841 Provision 18,455 1,366 3,718 (39 ) 23,500 Ending balance $ 76,858 $ 11,905 $ 8,961 $ 73 $ 97,797 Ending balance: individually evaluated for impairment $ 8,362 $ 74 $ — $ — $ 8,436 Ending balance: collectively evaluated for impairment 68,496 11,831 8,961 73 89,361 Loans: Ending balance: loans $ 5,208,864 $ 5,243,881 $ 368,029 $ 27,804 $ 10,848,578 Ending balance: individually evaluated for impairment 68,359 9,086 — — 77,445 Ending balance: collectively evaluated for impairment 5,140,505 5,234,795 368,029 27,804 10,771,133 Impaired Loans This table provides an analysis of impaired loans by class at June 30, 2018 and December 31, 2017 (in thousands): As of June 30, 2018 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 76,063 $ 27,143 $ 14,413 $ 41,556 $ 4,340 $ 50,064 Asset-based — — — — — — Factoring — — — — — 458 Commercial – credit card — — — — — — Real estate: Real estate – construction 108 93 — 93 — 93 Real estate – commercial 17,261 10,183 216 10,399 45 12,628 Real estate – residential 311 203 96 299 76 309 Real estate – HELOC — — — — — — Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — — Leases — — — — — — Total $ 93,743 $ 37,622 $ 14,725 $ 52,347 $ 4,461 $ 63,552 As of December 31, 2017 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 84,749 $ 44,525 $ 16,465 $ 60,990 $ 6,299 $ 65,385 Asset-based — — — — — — Factoring 830 — 830 830 306 207 Commercial – credit card — — — — — — Real estate: Real estate – construction 108 93 — 93 — 148 Real estate – commercial 16,284 7,968 4,477 12,445 3 10,506 Real estate – residential 427 321 97 418 75 221 Real estate – HELOC — — — — — — Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — 8 Leases — — — — — — Total $ 102,398 $ 52,907 $ 21,869 $ 74,776 $ 6,683 $ 76,475 Troubled Debt Restructurings A loan modification is considered a troubled debt restructuring (TDR) when a concession has 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 loss as described above in the Allowance for Loan Losses section of this note. The Company had no outstanding commitments to lend to borrowers with loan modifications classified as TDRs as of June 30, 2018. As of June 30, 2017 the Company had $1.6 million in commitments to lend to borrowers with loan modifications classified as TDRs. The Company monitors loan payments on an on-going basis to determine if a loan is considered to have a payment default. Determination of payment default involves analyzing the economic conditions that exist for each customer and their ability to generate positive cash flows during the loan term. For the three and six month periods ended June 30, 2018, the Company had one commercial TDR with a pre-modification loan balance of $6.2 million and a post-modification loan balance of $6.1 million, and one residential real estate TDR with a pre-modification loan balance of $93 thousand and a post-modification loan balance of $92 thousand. For the three month period ended June 30, 2017, the Company had no new TDRs. For the six month period ended June 30, 2017, the Company had one commercial TDR with a pre- and post-modification loan balance of $7.2 million. |
Securities
Securities | 6 Months Ended |
Jun. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | 5. Securities Securities Available for Sale This table provides detailed information about securities available for sale at June 30, 2018 and December 31, 2017 (in thousands): June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 40,098 $ — $ (2,008 ) $ 38,090 U.S. Agencies 200 — (2 ) 198 Mortgage-backed 3,809,164 819 (137,027 ) 3,672,956 State and political subdivisions 2,333,242 3,291 (37,561 ) 2,298,972 Corporates 1,470 — (2 ) 1,468 Total $ 6,184,174 $ 4,110 $ (176,600 ) $ 6,011,684 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 40,092 $ — $ (1,449 ) $ 38,643 U.S. Agencies 14,762 — (10 ) 14,752 Mortgage-backed 3,719,369 1,914 (72,040 ) 3,649,243 State and political subdivisions 2,546,517 11,965 (15,809 ) 2,542,673 Corporates 13,278 — (12 ) 13,266 Total $ 6,334,018 $ 13,879 $ (89,320 ) $ 6,258,577 The following table presents contractual maturity information for securities available for sale at June 30, 2018 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 325,043 $ 324,844 Due after 1 year through 5 years 999,207 992,435 Due after 5 years through 10 years 750,393 730,715 Due after 10 years 300,367 290,734 Total 2,375,010 2,338,728 Mortgage-backed securities 3,809,164 3,672,956 Total securities available for sale $ 6,184,174 $ 6,011,684 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 six months ended June 30, 2018, proceeds from the sales of securities available for sale were $41.3 million compared to $271.8 million for the same period in 2017. Securities transactions resulted in gross realized gains of $370 thousand and $1.7 million for the six months ended June 30, 2018 and 2017, respectively. Securities transactions resulted in gross realized losses of $3 thousand for the six months ended June 30, 2018 and there were no gross realized losses for the six months ended June 30, 2017. Securities available for sale with a fair value of $5.0 billion at June 30, 2018 and $5.7 billion at December 31, 2017 were pledged to secure U.S. Government deposits, other public deposits, certain trust deposits, derivative transactions, and repurchase agreements. Of this amount, securities with a market value of $1.6 billion and $1.8 billion at June 30, 2018 and 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 June 30, 2018 and December 31, 2017 (in thousands): Less than 12 months 12 months or more Total June 30, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Description of Securities U.S. Treasury $ 9,802 $ (134 ) $ 28,288 $ (1,874 ) $ 38,090 $ (2,008 ) U.S. Agencies 198 (2 ) — — 198 (2 ) Mortgage-backed 2,143,258 (57,180 ) 1,407,240 (79,847 ) 3,550,498 (137,027 ) State and political subdivisions 1,488,089 (20,901 ) 341,027 (16,660 ) 1,829,116 (37,561 ) Corporates 1,468 (2 ) — — 1,468 (2 ) Total temporarily-impaired debt securities available for sale $ 3,642,815 $ (78,219 ) $ 1,776,555 $ (98,381 ) $ 5,419,370 $ (176,600 ) Less than 12 months 12 months or more Total December 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Description of Securities U.S. Treasury $ 9,851 $ (64 ) $ 28,792 $ (1,385 ) $ 38,643 $ (1,449 ) U.S. Agencies 14,553 (10 ) — — 14,553 (10 ) Mortgage-backed 1,990,006 (19,980 ) 1,562,333 (52,060 ) 3,552,339 (72,040 ) State and political subdivisions 1,076,930 (7,325 ) 376,560 (8,484 ) 1,453,490 (15,809 ) Corporates 13,266 (12 ) — — 13,266 (12 ) Total temporarily-impaired debt securities available for sale $ 3,104,606 $ (27,391 ) $ 1,967,685 $ (61,929 ) $ 5,072,291 $ (89,320 ) The unrealized losses in the Company’s investments in U.S. Treasury obligations, U.S. government agencies, Government Sponsored Entity (GSE) 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 June 30, 2018. Securities Held to Maturity The following table shows the Company’s held-to-maturity investments’ amortized cost, fair value, and gross unrealized gains and losses at June 30, 2018 and December 31, 2017, respectively (in thousands): Gross Gross Amortized Unrealized Unrealized Fair June 30, 2018 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 6,919 $ — $ (52 ) $ 6,867 Due after 1 year through 5 years 106,654 226 (9,188 ) 97,692 Due after 5 years through 10 years 349,733 3,376 (20,134 ) 332,975 Due after 10 years 741,276 5,280 (80,153 ) 666,403 Total state and political subdivisions $ 1,204,582 $ 8,882 $ (109,527 ) $ 1,103,937 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2017 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 2,275 $ 3 $ (24 ) $ 2,254 Due after 1 year through 5 years 100,648 3,111 (2,834 ) 100,925 Due after 5 years through 10 years 372,234 5,006 (14,117 ) 363,123 Due after 10 years 785,857 6,952 (51,664 ) 741,145 Total state and political subdivisions $ 1,261,014 $ 15,072 $ (68,639 ) $ 1,207,447 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 six months ended June 30, 2018 or 2017. Trading Securities There were net unrealized gains on trading securities of $36 thousand at June 30, 2018, and net unrealized losses on trading securities of $67 thousand at June 30, 2017. Net unrealized gains/losses are included in Trading and investment banking income on the Consolidated Statements of Income. Securities sold not yet purchased totaled $16.8 million and $4.1 million at June 30, 2018 and December 31, 2017, respectively, and are classified within the Other liabilities line of the Company’s Consolidated Balance Sheets. Other Securities The table below provides detailed information for FRB stock and Federal Home Loan Bank (FHLB) stock and other securities at June 30, 2018 and December 31, 2017 (in thousands): Gross Gross Amortized Unrealized Unrealized Fair June 30, 2018 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable — 5,018 — 5,018 Other securities – non-marketable 25,532 3,187 (452 ) 28,267 Total Other securities $ 58,794 $ 8,205 $ (452 ) $ 66,547 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2017 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable 3 4,637 — 4,640 Other securities – non-marketable 26,606 1,389 — 27,995 Total Other securities $ 59,871 $ 6,026 $ — $ 65,897 Investment in FRB stock is based on the capital structure of the investing bank, and investment in FHLB stock is mainly tied to the level of borrowings from the FHLB. These holdings are carried at cost. Other marketable and non-marketable securities include Prairie Capital Management (PCM) 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 $5.0 million at June 30, 2018 and $4.6 million at December 31, 2017. The fair value of other non-marketable securities includes alternative investment securities of $4.8 million at June 30, 2018 and $3.4 million at December 31, 2017. Unrealized gains or losses on alternative investments are recognized in the Other noninterest income line on the Company’s Consolidated Statements of Income. |
Goodwill and Other Intangibles
Goodwill and Other Intangibles | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 and December 31, 2017 by reportable segment are as follows (in thousands): Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Balances as of January 1, 2018 $ 59,419 $ 51,332 $ 70,116 $ — $ 180,867 Balances as of June 30, 2018 $ 59,419 $ 51,332 $ 70,116 $ — $ 180,867 Balances as of January 1, 2017 $ 59,419 $ 98,861 $ 70,116 $ — $ 228,396 Discontinued assets ─ goodwill and other intangibles, net — (47,529 ) — — (47,529 ) Balances as of December 31, 2017 $ 59,419 $ 51,332 $ 70,116 $ — $ 180,867 The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2018 and December 31, 2017 (in thousands) As of June 30, 2018 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 50,059 $ 71,342 $ 3,254 $ 124,655 Accumulated amortization 43,728 60,463 3,254 107,445 Net carrying amount $ 6,331 $ 10,879 $ — $ 17,210 As of December 31, 2017 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 50,059 $ 71,342 $ 3,254 $ 124,655 Accumulated amortization 42,209 58,935 3,254 104,398 Net carrying amount $ 7,850 $ 12,407 $ — $ 20,257 The following table has the aggregate amortization expense recognized in each period (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Aggregate amortization expense $ 1,485 $ 1,924 $ 3,047 $ 3,970 The following table lists estimated amortization expense of intangible assets in future periods (in thousands): For the six months ending December 31, 2018 $ 2,666 For the year ending December 31, 2019 4,714 For the year ending December 31, 2020 3,759 For the year ending December 31, 2021 2,755 For the year ending December 31, 2022 1,815 For the year ending December 31, 2023 1,097 |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 6 Months Ended |
Jun. 30, 2018 | |
Banking And Thrift [Abstract] | |
Securities Sold Under Agreements to Repurchase | 7. Securities Sold Under Agreements to Repurchase The Company utilizes repurchase agreements to facilitate the needs of customers and to facilitate secured short-term funding needs. Repurchase agreements are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents. The table below presents the remaining contractual maturities of repurchase agreements outstanding at June 30, 2018, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands): As of June 30, 2018 Remaining Contractual Maturities of the Agreements Repurchase agreements, secured by: On Demand 2-29 Days Over 90 Days Total U.S. Treasury $ — $ 15,755 $ — $ 15,755 U.S. Agencies — 1,267,219 4,500 1,271,719 Total repurchase agreements $ — $ 1,282,974 $ 4,500 $ 1,287,474 |
Business Segment Reporting
Business Segment Reporting | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | 8. Business Segment Reporting The Company has strategically aligned its operations into the following four reportable segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services (collectively, the Business Segments). Senior executive officers regularly evaluate Business Segment financial results produced by the Company’s internal reporting system in deciding how to allocate resources and assess performance for individual Business Segments. Previously, the Company had the following three Business Segments: Bank, Institutional Investment Management, and Asset Servicing. During 2017, the Company sold all of the outstanding stock of Scout, its institutional investment management subsidiary. As the operations of Scout are included in discontinued operations, the Company no longer presents such operations as one of its business segments. The Company’s reportable Business Segments include certain corporate overhead, technology and service costs that are allocated based on methodologies that are applied consistently between periods. For comparability purposes, amounts in all periods are based on methodologies in effect at June 30, 2018. Previously reported results have been reclassified in this filing to conform to the current organizational structure. The following summaries provide information about the activities of each segment: Commercial Banking serves the commercial lending and leasing, capital markets, and treasury management needs of the Company’s mid-market businesses and governmental entities by offering various products and services. Such services include commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and a variety of financial options for companies that need non-traditional banking services. Capital markets services include asset-based financing, asset securitization, equity and mezzanine financing, factoring, private and public placement of senior debt, as well as merger and acquisition consulting. Treasury management services include depository services, account reconciliation services, electronic fund transfer services, controlled disbursements, lockbox services, and remote deposit capture services. Institutional Banking is a combination of banking services, fund services, and asset management services provided to institutional clients. This segment also provides mutual fund cash management, international payments, corporate trust and escrow services, as well as correspondent banking and investment banking. Products and services include bond trading transactions, cash letter collections, investment portfolio accounting and safekeeping, reporting for asset/liability management, and Federal funds transactions. Institutional Banking also includes UMB Fund Services, which provides fund administration and accounting, investor services and transfer agency, marketing and distribution, custody and alternative investment services. Personal Banking combines consumer services and asset management provided to personal clients. This segment combines the Company’s consumer bank with the individual investment and wealth management solutions. The range of services offered to UMB clients extends from a basic checking account to estate planning and trust services. Products and services include the Company’s bank branches, call center, internet banking and ATM network, deposit accounts, retail credit cards, private banking, installment loans, home equity lines of credit, residential mortgages, small business loans, brokerage services, and insurance services in addition to a full spectrum of investment advisory, trust, and custody services. Healthcare Services provides healthcare payment solutions including custodial services for health savings accounts (HSAs) and private label, multipurpose debit cards to insurance carriers, third-party administrators, software companies, employers and financial institutions. Business Segment Information Business Segment financial results for the three and six months ended June 30, 2018 and June 30, 2017 were as follows (in thousands): Three Months Ended June 30, 2018 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 93,011 $ 16,279 $ 31,111 $ 9,825 $ 150,226 Provision for loan losses 5,139 322 1,539 — 7,000 Noninterest income 19,178 43,411 28,720 8,980 100,289 Noninterest expense 62,859 47,551 54,259 12,549 177,218 Income before taxes 44,191 11,817 4,033 6,256 66,297 Income tax expense 7,246 1,939 662 1,026 10,873 Income from continuing operations $ 36,945 $ 9,878 $ 3,371 $ 5,230 $ 55,424 Average assets $ 9,740,000 $ 3,934,000 $ 4,799,000 $ 2,147,000 $ 20,620,000 Three Months Ended June 30, 2017 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 86,810 $ 12,415 $ 30,615 $ 7,554 $ 137,394 Provision for loan losses 12,114 320 2,066 — 14,500 Noninterest income 21,714 48,161 31,135 9,296 110,306 Noninterest expense 62,545 46,610 56,516 11,268 176,939 Income before taxes 33,865 13,646 3,168 5,582 56,261 Income tax expense 7,188 3,137 106 1,059 11,490 Income from continuing operations $ 26,677 $ 10,509 $ 3,062 $ 4,523 $ 44,771 Average assets $ 9,842,000 $ 3,316,000 $ 5,293,000 $ 1,864,000 $ 20,315,000 Six Months Ended June 30, 2018 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 185,006 $ 32,023 $ 62,003 $ 19,116 $ 298,148 Provision for loan losses 13,117 672 3,211 — 17,000 Noninterest income 39,775 88,830 59,434 17,775 205,814 Noninterest expense 125,131 94,383 109,225 24,355 353,094 Income before taxes 86,533 25,798 9,001 12,536 133,868 Income tax expense 13,516 4,030 1,406 1,959 20,911 Income from continuing operations $ 73,017 $ 21,768 $ 7,595 $ 10,577 $ 112,957 Average assets $ 9,765,000 $ 3,882,000 $ 4,885,000 $ 2,151,000 $ 20,683,000 Six Months Ended June 30, 2017 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 172,108 $ 23,971 $ 60,809 $ 14,821 $ 271,709 Provision for loan losses 18,934 789 3,777 — 23,500 Noninterest income 40,919 93,828 59,671 18,805 213,223 Noninterest expense 125,202 91,362 112,632 21,553 350,749 Income before taxes 68,891 25,648 4,071 12,073 110,683 Income tax expense 14,870 5,456 1,015 2,595 23,936 Income from continuing operations $ 54,021 $ 20,192 $ 3,056 $ 9,478 $ 86,747 Average assets $ 9,730,000 $ 3,391,000 $ 5,317,000 $ 1,837,000 $ 20,275,000 |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Revenue Recognition | 9. Revenue Recognition As of January 1, 2018, the Company adopted ASU No. 2014-09, Revenue from Contracts with Customers The following is a description of the principal activities from which the Company generates revenue that are within the scope of ASC 606: Trust and securities processing - Trust and securities processing income consists of fees earned on personal and corporate trust accounts, custody of securities services, trust investments and wealth management services, and mutual fund and alternative asset servicing. The performance obligations related to this revenue include items such as performing full bond trustee service administration, investment advisory services, custody and record-keeping services, and fund administrative and accounting services. These fees are part of long-term contractual agreements and the performance obligations are satisfied upon completion of service and fees are generally a fixed flat monthly rate or based on a percentage of the account’s market value per the contract with the customer. These fees are primarily recorded within the Company’s Institutional and Personal Banking segments. Trading and investment banking - Trading and investment banking income consists of income earned related to the Company’s trading securities portfolio, including futures hedging, dividends, bond underwriting, and other securities incomes. The vast majority of this revenue is recognized in accordance with ASC 320, , and is out of the scope of ASC 606. A portion of trading and investment banking represents fees earned for management fees, commissions, and underwriting of corporate bond issuances. The performance obligations related to these fees include reviewing the credit worthiness of the customer, ensuring appropriate regulatory approval and participating in due diligence. The fees are fixed per the bond prospectus and the performance obligations are satisfied upon registration approval of the bonds by the applicable regulatory agencies. Revenue is recognized at the point in time upon completion of service and when approval is granted by the regulators. Service charges on deposits - Service charges on deposit accounts represent monthly analysis fees recognized for the services related to customer deposit accounts, including account maintenance and depository transactions processing fees. Commercial Banking and Institutional Banking depository accounts charge fees in accordance with the customer’s pricing schedule while Personal Banking account holders are generally charged a flat service fee per month. Deposit service charges for the Healthcare Services segment are priced according to either standard pricing schedules with individual account holders or according to service agreements between the Company and employer groups or third party administrators. The Company satisfies the performance obligation related to providing depository accounts monthly as transactions are processed and deposit service charge revenue is recorded monthly. These fees are recognized within all Business Segments. Insurance fees and commissions – Insurance fees and commissions includes all insurance-related fees earned, including commissions for individual life, variable life, group life, health, group health, fixed annuity, and variable annuity insurance contracts. The performance obligations related to these revenues primarily represent the placement of insurance policies with the insurance company partners. The fees are based on the contracts with insurance company partners and the performance obligations are satisfied when the terms of the policy have been agreed to and the insurance policy becomes effective. Brokerage fees – Brokerage fees represent income earned related to providing brokerage transaction services, including commissions on equity and commodity trades, and fees for investment management, advisory and administration. The performance obligations related to transaction services are executing the specified trade and are priced according to the customer’s fee schedule. Such income is recognized at a point in time as the trade occurs and the performance obligation is fulfilled. The performance obligations related to investment management, advisory and administration include allocating customer assets across a wide range of mutual funds and other investments, on-going account monitoring and re-balancing of the portfolio. These performance obligations are satisfied over time and the related revenue is calculated monthly based on the assets under management of each customer. All material performance obligations are satisfied as of the end of each accounting period. Bankcard fees – Bankcard fees primarily represent income earned from interchange revenue from MasterCard and Visa for the Company’s processing of debit, credit, HSA, and flexible spending account transactions. Additionally, the Company earns income and incentives related to various referrals of customers to card programs. The performance obligation for interchange revenue is the processing of each transaction through the Company’s access to the banking system. This performance obligation is completed for each individual transaction and income is recognized per transaction in accordance with interchange rates established by MasterCard and Visa. The performance obligations for various referral and incentive programs include either referring customers to certain card products or issuing exclusively branded cards for certain customer segments. The pricing of these incentive and referral programs are in accordance with the agreement with the individual card partner. These performance obligations are completed as the referrals are made or over a period of time when the Company is exclusively issuing branded cards. For the three months ended June 30, 2018 and June 30, 2017, the Company also has approximately $9.0 million and $5.3 million of expense, respectively, recorded within the Bankcard fees line on the Company’s Consolidated Income Statements related to rebates and rewards programs that are outside of the scope of ASC 606. For the six months ended June 30, 2018 and June 30, 2017, the Company also has approximately $17.1 million and $12.1 million of expense, respectively, related to these rebates and rewards programs. All material performance obligations are satisfied as of the end of each accounting period. Gains on sales of securities available for sale, net – In the regular course of business, the Company recognizes gains on the sale of available for sale securities. These gains are recognized in accordance with ASC 320, , and are outside of the scope of ASC 606. Other income – The Company recognizes other miscellaneous income through a variety of other revenue streams, the most material of which include letter of credit fees, certain loan origination fees, gains on the sale of assets, gains and losses on equity-method investments, derivative income, and bank-owned and company-owned life insurance income. These revenue streams are outside of the scope of ASC 606 and are recognized in accordance with the applicable U.S. GAAP. The remainder of Other income is primarily earned through transactions with personal banking customers, including wire transfer service charges, stop payment charges, and fees for items like money orders and cashier’s checks. The performance obligations of these types of fees are satisfied as transactions are completed and revenue is recognized upon transaction execution according to established fee schedules with the customers. The Company had no material contract assets, contract liabilities, or remaining performance obligations as of June 30, 2018. Total receivables from revenue recognized under the scope of ASC 606 were $54.8 million and $53.5 million as of June 30, 2018 and December 31, 2017, respectively. These receivables are included as part of the Other assets line on the Company’s Consolidated Balance Sheets. The following table depicts the disaggregation of revenue according to revenue stream and Business Segment for the three and six months ended June 30, 2018 and June 30, 2017. As stated in Note 8, “Business Segment Reporting,” for comparability purposes, amounts in all periods are based on methodologies in effect at June 30, 2018 and previously reported results have been reclassified in this filing to confirm to the current organizational structure. Disaggregated revenue is as follows (in thousands): Three Months Ended June 30, 2018 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 26,846 $ 15,999 $ — $ — $ 42,845 Trading and investment banking — — — — 4,653 4,653 Service charges on deposit accounts 7,624 5,808 2,777 4,478 35 20,722 Insurance fees and commissions — — 340 — — 340 Brokerage fees 49 3,975 2,267 — — 6,291 Bankcard fees 15,025 1,420 5,584 4,042 (8,887 ) 17,184 Gains on sales of securities available for sale, net — — — — 228 228 Other 678 136 879 186 6,147 8,026 Total Noninterest income $ 23,376 $ 38,185 $ 27,846 $ 8,706 $ 2,176 $ 100,289 Three Months Ended June 30, 2017 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 27,962 $ 16,849 $ — $ — $ 44,811 Trading and investment banking — 169 — — 6,004 6,173 Service charges on deposit accounts 8,083 7,494 2,864 4,260 30 22,731 Insurance fees and commissions — — 513 — — 513 Brokerage fees 36 3,703 2,147 3 — 5,889 Bankcard fees 13,416 1,583 5,902 4,490 (5,157 ) 20,234 Gains on sales of securities available for sale, net — — — — 1,280 1,280 Other 1,507 151 708 93 6,216 8,675 Total Noninterest income $ 23,042 $ 41,062 $ 28,983 $ 8,846 $ 8,373 $ 110,306 Six Months Ended June 30, 2018 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 54,542 $ 32,305 $ — $ — $ 86,847 Trading and investment banking — — — — 8,754 8,754 Service charges on deposit accounts 15,415 13,038 5,589 8,516 69 42,627 Insurance fees and commissions — — 641 — — 641 Brokerage fees 101 8,036 4,507 — — 12,644 Bankcard fees 29,822 3,055 10,897 8,346 (16,813 ) 35,307 Gains on sales of securities available for sale, net — — — — 367 367 Other 1,133 255 1,785 335 15,119 18,627 Total Noninterest income $ 46,471 $ 78,926 $ 55,724 $ 17,197 $ 7,496 $ 205,814 Six Months Ended June 30, 2017 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 54,479 $ 32,873 $ — $ — $ 87,352 Trading and investment banking — 674 — — 13,041 13,715 Service charges on deposit accounts 16,103 14,849 5,729 8,065 60 44,806 Insurance fees and commissions — — 1,159 — — 1,159 Brokerage fees 76 6,959 4,228 3 — 11,266 Bankcard fees 25,564 3,088 11,340 9,712 (11,718 ) 37,986 Gains on sales of securities available for sale, net — — — — 1,748 1,748 Other 1,996 314 1,472 169 11,240 15,191 Total Noninterest income $ 43,739 $ 80,363 $ 56,801 $ 17,949 $ 14,371 $ 213,223 |
Commitments, Contingencies and
Commitments, Contingencies and Guarantees | 6 Months Ended |
Jun. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Guarantees | 10. 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, 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 Sheets. The contractual 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 (in thousands): Contract or Notional Amount June 30, December 31, 2018 2017 Commitments to extend credit for loans (excluding credit card loans) $ 6,146,143 $ 6,689,467 Commitments to extend credit under credit card loans 3,053,379 2,975,507 Commercial letters of credit 4,987 813 Standby letters of credit 330,478 316,054 Forward contracts 33,575 29,007 Spot foreign exchange contracts 665 628 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | 11. 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 and liabilities. 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 Consolidated Balance Sheets The table below presents the fair value of the Company’s derivative financial instruments as of June 30, 2018 and December 31, 2017. The Company’s derivative assets and derivative liabilities are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheets. Derivatives fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows from 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. This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of June 30, 2018 and December 31, 2017 ( in thousands Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, Fair Value 2018 2017 2018 2017 Interest Rate Products: Derivatives not designated as hedging instruments $ 2,855 $ 10,116 $ 7,970 $ 7,326 Derivatives designated as hedging instruments 115 33 — 1,580 Total $ 2,970 $ 10,149 $ 7,970 $ 8,906 Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its fixed-rate assets and liabilities due to changes in the benchmark interest rate, London Interbank Offered Rate (LIBOR). Interest rate swaps designated as fair value hedges involve either making fixed rate payments to a counterparty in exchange for the Company receiving variable rate payments, or making variable rate payments to a counterparty in exchange for the Company receiving fixed rate payments, over the life of the agreements without the exchange of the underlying notional amount. As of June 30, 2018, the Company had one interest rate swap with a notional amount of $5.7 million that was designated as a fair value hedge of interest rate risk associated with the Company’s fixed rate loan assets. 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. Cash Flow Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its variable-rate liabilities due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of June 30, 2018, the Company had two interest rate swaps with a notional amount of $51.5 million that were designated as cash flow hedges of interest rate risk associated with the Company’s variable-rate subordinated debentures issued by Marquette Capital Trusts III and IV. For derivatives designated and that qualify as cash flow hedges, the change in fair value is recorded in AOCI and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the three and six months ended June 30, 2018, the Company recognized net gains of $910 thousand and $3.1 million, respectively, in AOCI for the change in fair value of these cash flow hedges. During the three and six months ended June 30, 2017, the Company recognized net losses of $1.2 million and $911 thousand, respectively, in AOCI for the change in fair value of these cash flow hedges. Amounts reported in AOCI related to derivatives will be reclassified to Interest expense as interest payments are received or paid on the Company’s derivatives. The Company expects to reclassify $7 thousand from AOCI to Interest expense during the next 12 months. As of June 30, 2018, the Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 18.22 years. 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 June 30, 2018, the Company had 96 interest rate swaps with an aggregate notional amount of $1.1 billion related to this program. During the three and six months ended June 30, 2018, the Company recognized net gains of $137 thousand and $473 thousand, respectively, related to changes in fair value of these swaps. During the three and six months ended June 30, 2017, the Company recognized net losses of $168 thousand and $516 thousand, respectively, related to changes in fair value of these swaps. Effect of Derivative Instruments on the Consolidated Statements of Income This table provides a summary of the amount of gain or loss recognized in Other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2018 and June 30, 2017 (in thousands) Amount of Gain (Loss) Recognized For the Three Months Ended For the Six Months Ended June 30, June 30, June 30, June 30, 2018 2017 2018 2017 Interest Rate Products Derivatives not designated as hedging instruments $ 137 $ (168 ) $ 473 $ (516 ) Total $ 137 $ (168 ) $ 473 $ (516 ) Interest Rate Products Derivatives designated as hedging instruments: Fair value adjustments on derivatives $ 53 $ (86 ) $ 134 $ (132 ) Fair value adjustments on hedged items (49 ) 88 (130 ) 134 Total $ 4 $ 2 $ 4 $ 2 This table provides a summary of the amount of gain or loss recognized in AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2018 and June 30, 2017 (in thousands) Amount of Gain Recognized in Other Comprehensive Income on Derivatives For the Three Months Ended For the Six Months Ended June 30, June 30, June 30, June 30, Derivatives in Cash Flow Hedging Relationships 2018 2017 2018 2017 Interest Rate Products Derivatives designated as cash flow hedging instruments $ 910 $ (1,157 ) $ 3,112 $ (911 ) Total $ 910 $ (1,157 ) $ 3,112 $ (911 ) Credit-risk-related Contingent Features The Company has agreements with certain of its derivative counterparties that contain a provision that 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 June 30, 2018, the termination value of derivatives in a net liability position, which includes accrued interest, related to these agreements was $154 thousand. The Company has minimum collateral posting thresholds with certain of its derivative counterparties. At June 30, 2018, the Company had posted $1.0 million of collateral. If the Company had breached any of these provisions at June 30, 2018, it could have been required to settle its obligations under the agreements at the termination value. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 12. Fair Value Measurements The following table presents information about the Company’s assets measured at fair value on a recurring basis as of June 30, 2018, 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 June 30, 2018 and December 31, 2017 (in thousands): Fair Value Measurement at June 30, 2018 Description June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 338 $ 338 $ — $ — U.S. Agencies 2,088 — 2,088 — State and political subdivisions 41,308 — 41,308 — Corporates 10,138 10,138 — — Trading – other 13,219 12,464 755 — Trading securities 67,091 22,940 44,151 — U.S. Treasury 38,090 38,090 — — U.S. Agencies 198 — 198 — Mortgage-backed 3,672,956 — 3,672,956 — State and political subdivisions 2,298,972 — 2,298,972 — Corporates 1,468 1,468 — — Available for sale securities 6,011,684 39,558 5,972,126 — Company-owned life insurance 56,770 — 56,770 — Bank-owned life insurance 269,703 — 269,703 — Derivatives 2,970 — 2,970 — Total $ 6,408,218 $ 62,498 $ 6,345,720 $ — Liabilities Deferred compensation $ 53,084 $ 53,084 $ — $ — Derivatives 7,970 — 7,970 — Securities sold not yet purchased 16,834 — 16,834 — Total $ 77,888 $ 53,084 $ 24,804 $ — Fair Value Measurement at December 31, 2017 Description December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 18 $ 18 $ — $ — U.S. Agencies 9,976 — 9,976 — Mortgage-backed 1,949 — 1,949 — State and political subdivisions 27,114 — 27,114 — Corporates 1,885 1,885 — — Trading – other 13,113 12,434 679 — Trading securities 54,055 14,337 39,718 — U.S. Treasury 38,643 38,643 — — U.S. Agencies 14,752 — 14,752 — Mortgage-backed 3,649,243 — 3,649,243 — State and political subdivisions 2,542,673 — 2,542,673 — Corporates 13,266 13,266 — — Available for sale securities 6,258,577 51,909 6,206,668 — Company-owned life insurance 53,577 — 53,577 — Bank-owned life insurance 265,823 — 265,823 — Derivatives 10,149 — 10,149 — Total $ 6,642,181 $ 66,246 $ 6,575,935 $ — Liabilities Deferred compensation $ 50,963 $ 50,963 $ — $ — Derivatives 8,906 — 8,906 — Securities sold not yet purchased 4,130 — 4,130 — Total $ 63,999 $ 50,963 $ 13,036 $ — 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: 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. Securities Available for Sale Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Prices are provided by third-party pricing services and are based on observable market inputs. On an annual basis, the Company compares a sample of these prices to other independent sources for the same securities. Additionally, throughout the year, if securities are sold, comparisons are made between the pricing services prices and the market prices at which the securities were sold. Variances are analyzed, and, if appropriate, additional research is conducted with the third-party pricing services. Based on this research, the pricing services may affirm or revise their quoted price. No significant adjustments have been made to the prices provided by the pricing services. The pricing services also provide documentation on an ongoing basis that includes reference data, inputs and methodology by asset class, which is reviewed to ensure that security placement within the fair value hierarchy is appropriate. Company-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies. Bank-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies. Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows from 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. Securities sold not yet purchased Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Prices are provided by third-party pricing services and are based on observable market inputs. Assets measured at fair value on a non-recurring basis as of June 30, 2018 and December 31, 2017 (in thousands): Fair Value Measurement at June 30, 2018 Using Description June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains Recognized During the Six Months Ended June 30 Impaired loans $ 10,264 $ — $ — $ 10,264 $ 2,222 Other real estate owned 3,683 — — 3,683 — Total $ 13,947 $ — $ — $ 13,947 $ 2,222 Fair Value Measurement at December 31, 2017 Using Description December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains Recognized During the Twelve Months Ended December 31 Impaired loans $ 15,186 $ — $ — $ 15,186 $ 1,251 Other real estate owned 1,488 — — 1,488 13 Total $ 16,674 $ — $ — $ 16,674 $ 1,264 Valuation methods for instruments measured at fair value on a non-recurring 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 appraised 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. Goodwill Valuation of goodwill to determine impairment is performed annually, or more frequently if there is an event or circumstance that would indicate impairment may have occurred. The process involves calculations to determine the fair value of each reporting unit on a stand-alone basis. A combination of formulas using current market multiples, based on recent sales of financial institutions within the Company’s geographic marketplace, is used to estimate the fair value of each reporting unit. That fair value is compared to the carrying amount of the reporting unit, including its recorded goodwill. Impairment is considered to have occurred if the fair value of the reporting unit is lower than the carrying amount of the reporting unit. The fair value of the Company’s common stock relative to its computed book value per share is also considered as part of the overall evaluation. These 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 June 30, 2018 and December 31, 2017 are as follows (in thousands): Fair Value Measurement at June 30, 2018 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 563,654 $ 508,224 $ 55,430 $ — $ 563,654 Securities available for sale 6,011,684 39,558 5,972,126 — 6,011,684 Securities held to maturity 1,204,582 — 1,103,937 — 1,103,937 Trading securities 67,091 22,940 44,151 — 67,091 Other securities 66,547 — 66,547 — 66,547 Loans (exclusive of allowance for loan loss) 11,635,110 — 11,660,240 — 11,660,240 Derivatives 2,970 — 2,970 — 2,970 FINANCIAL LIABILITIES Demand and savings deposits 15,466,124 15,466,124 — — 15,466,124 Time deposits 919,954 — 919,954 — 919,954 Other borrowings 1,666,158 378,684 1,287,474 — 1,666,158 Long-term debt 78,692 — 78,984 — 78,984 Derivatives 7,970 — 7,970 — 7,970 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 2,691 Commercial letters of credit 35 Standby letters of credit 1,291 Fair Value Measurement at December 31, 2017 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 1,936,084 $ 1,749,618 $ 186,466 $ — $ 1,936,084 Securities available for sale 6,258,577 51,909 6,206,668 — 6,258,577 Securities held to maturity 1,261,014 — 1,207,447 — 1,207,447 Trading securities 54,055 14,337 39,718 — 54,055 Other securities 65,897 — 65,897 — 65,897 Loans (exclusive of allowance for loan loss) 11,281,973 — 11,318,764 — 11,318,764 Derivatives 10,149 — 10,149 — 10,149 FINANCIAL LIABILITIES Demand and savings deposits 16,742,736 16,742,736 — — 16,742,736 Time deposits 1,280,264 — 1,280,264 — 1,280,264 Other borrowings 1,260,704 11,334 1,249,370 — 1,260,704 Long-term debt 79,281 — 79,496 — 79,496 Derivatives 8,906 — 8,906 — 8,906 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 6,654 Commercial letters of credit 136 Standby letters of credit 2,514 Cash and short-term investments The carrying amounts of cash and due from banks, federal funds sold and resell agreements are reasonable estimates of their fair values. Securities held to maturity Fair value of held-to-maturity securities are estimated by discounting the future cash flows using current market rates. Other securities Amount consists of FRB and FHLB stock held by the Company, PCM equity-method investments, and other miscellaneous investments. The carrying amount of the FRB and FHLB stock equals its fair value because the shares can only be redeemed by the FRB and FHLB at their carrying amount. The fair value of PCM 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 investment(s). 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 are based on quoted market prices for similar instruments or estimated by discounting the future cash flows. The discount rates used are estimated using comparable market rates for similar types of instruments adjusted to be commensurate with the credit risk, overhead costs, and optionality of such instruments. Demand and savings deposits The fair value of demand deposits and savings accounts was the amount payable on demand at June 30, 2018 and December 31, 2017. 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. Other borrowings The carrying amounts of federal funds purchased, repurchase agreements and other short-term debt are reasonable estimates of their fair value because of the short-term nature of their 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 period-end are significant to the Company’s consolidated financial position. |
Divestitures
Divestitures | 6 Months Ended |
Jun. 30, 2018 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Divestitures | 13. Divestitures On November 17, 2017, the Company closed on the sale of all of the outstanding stock of Scout, an institutional investment management subsidiary, for $172.5 million in cash. The gain recorded on the disposal of Scout was $103.6 million. This table summarizes the components of (loss) income from discontinued operations, net of taxes, for the three and six months ended June 30, 2018 and June 30, 2017 presented in the Consolidated Statements of Income (in thousands) For the Three Months Ended For the Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Total noninterest income $ — $ 17,856 $ — $ 35,719 Total noninterest expense — 20,455 917 35,411 (Loss) income from discontinued operations — (2,599 ) (917 ) 308 Income tax (benefit) expense — (649 ) (170 ) 53 Net (loss) income on discontinued operations $ — $ (1,950 ) $ (747 ) $ 255 The components of net cash provided by operating activities of discontinued operations included in the Consolidated Statements of Cash Flows are as follows (in thousands) For the Six Months Ended June 30, 2018 June 30, 2017 (Loss) income from discontinued operations $ (747 ) $ 255 Depreciation and amortization — 1,647 Net cash provided by operating activities of discontinued operations $ (747 ) $ 1,902 |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Nature Of Operations | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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 provided in the Notes to Consolidated Financial Statements in the Form 10-K. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents includes Cash and due from banks and amounts due from the Federal Reserve Bank (FRB). Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the FRB 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 Statements of Cash Flows as of June 30, 2018 and June 30, 2017 (in thousands) June 30, 2018 2017 Due from the FRB $ 92,990 $ 282,402 Cash and due from banks 379,433 379,148 Cash and cash equivalents at end of period $ 472,423 $ 661,550 Also included in the Interest-bearing due from banks, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $20.9 million and $49.7 million at June 30, 2018 and June 30, 2017, respectively. |
Per Share Data | Per Share Data Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 455,102 and 579,116 shares issuable upon the exercise of options granted by the Company and outstanding at June 30, 2018 and 2017, respectively. Diluted year-to-date net income per share includes the dilutive effect of 487,366 and 638,922 shares issuable upon the exercise of options granted by the Company and outstanding at June 30, 2018 and 2017, respectively. Options issued under employee benefits plans to purchase 137,630 and 150,739 shares of common stock were outstanding at June 30, 2018 and 2017, respectively, but were not included in the computation of quarter-to-date and year-to-date diluted earnings per share because the options were anti-dilutive. |
Derivatives | Derivatives The Company records all derivatives on the Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Currently, three of the Company’s derivatives are designated in qualifying hedging relationships. However, the remainder of the Company’s derivatives are not designated in qualifying hedging relationships, as the derivatives are not used to manage risks within the Company’s assets or liabilities. All changes in fair value of the Company’s non-designated derivatives are recognized directly in earnings. Changes in fair value of the Company’s fair value hedges are recognized directly in earnings. Changes in fair value of the Company’s cash flow hedges are recognized in accumulated other comprehensive income (AOCI). |
Summary of Significant Accoun23
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Cash and Cash Equivalents | This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2018 and June 30, 2017 (in thousands) June 30, 2018 2017 Due from the FRB $ 92,990 $ 282,402 Cash and due from banks 379,433 379,148 Cash and cash equivalents at end of period $ 472,423 $ 661,550 |
Loans and Allowance for Loan 24
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 and December 31, 2017 (in thousands): June 30, 2018 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due Current Total Loans Loans Commercial: Commercial $ 5,709 $ 819 $ 37,568 $ 44,096 $ 4,592,913 $ 4,637,009 Asset-based — — — — 368,328 368,328 Factoring — — — — 249,351 249,351 Commercial – credit card 676 36 — 712 186,379 187,091 Real estate: Real estate – construction — — — — 789,458 789,458 Real estate – commercial 3,335 — 14,245 17,580 3,731,046 3,748,626 Real estate – residential 331 — 683 1,014 686,250 687,264 Real estate – HELOC 791 — 3,089 3,880 575,024 578,904 Consumer: Consumer – credit card 1,875 1,856 407 4,138 223,187 227,325 Consumer – other 151 172 38 361 137,913 138,274 Leases — — — — 19,998 19,998 Total loans $ 12,868 $ 2,883 $ 56,030 $ 71,781 $ 11,559,847 $ 11,631,628 December 31, 2017 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due Current Total Loans Loans Commercial: Commercial $ 11,216 $ 672 $ 38,644 $ 50,532 $ 4,502,508 $ 4,553,040 Asset-based — — — — 336,614 336,614 Factoring — — — — 221,672 221,672 Commercial – credit card 387 79 — 466 171,825 172,291 Real estate: Real estate – construction 6,666 243 93 7,002 710,847 717,849 Real estate – commercial 832 — 16,115 16,947 3,546,683 3,563,630 Real estate – residential 791 — 929 1,720 636,871 638,591 Real estate – HELOC 1,254 — 3,013 4,267 644,112 648,379 Consumer: Consumer – credit card 2,155 2,057 312 4,524 248,173 252,697 Consumer – other 835 40 36 911 150,872 151,783 Leases — — — — 23,967 23,967 Total loans $ 24,136 $ 3,091 $ 59,142 $ 86,369 $ 11,194,144 $ 11,280,513 |
Credit Risk Profile by Risk Rating and Based on Payment Activity | This table provides an analysis of the credit risk profile of each loan class excluded from ASC 310-30, Loans and Debt Securities Purchased with Deteriorated Credit Quality (in thousands) Credit Exposure Credit Risk Profile by Risk Rating Commercial Asset-based Factoring June 30, December 31, June 30, December 31, June 30, December 31, 2018 2017 2018 2017 2018 2017 Non-watch list $ 4,142,433 $ 4,048,238 $ 291,213 $ 306,899 $ 249,163 $ 220,795 Watch 161,466 162,788 — — — — Special Mention 117,253 106,638 77,115 29,715 188 47 Substandard 215,857 235,376 — — — 830 Total $ 4,637,009 $ 4,553,040 $ 368,328 $ 336,614 $ 249,351 $ 221,672 Real estate – construction Real estate – commercial June 30, December 31, June 30, December 31, 2018 2017 2018 2017 Non-watch list $ 787,424 $ 716,830 $ 3,594,253 $ 3,434,982 Watch 1,841 631 55,776 50,715 Special Mention — — 34,051 35,940 Substandard 193 388 64,546 41,993 Total $ 789,458 $ 717,849 $ 3,748,626 $ 3,563,630 Credit Exposure Credit Risk Profile Based on Payment Activity Commercial – credit card Real estate – residential Real estate – HELOC June 30, December 31, June 30, December 31, June 30, December 31, 2018 2017 2018 2017 2018 2017 Performing $ 187,091 $ 172,291 $ 686,581 $ 637,662 $ 575,815 $ 645,366 Non-performing — — 683 929 3,089 3,013 Total $ 187,091 $ 172,291 $ 687,264 $ 638,591 $ 578,904 $ 648,379 Consumer – credit card Consumer – other Leases June 30, December 31, June 30, December 31, June 30, December 31, 2018 2017 2018 2017 2018 2017 Performing $ 226,918 $ 252,385 $ 138,236 $ 151,747 $ 19,998 $ 23,967 Non-performing 407 312 38 36 — — Total $ 227,325 $ 252,697 $ 138,274 $ 151,783 $ 19,998 $ 23,967 |
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 six months ended June 30, 2018 (in thousands): Three Months Ended June 30, 2018 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 81,057 $ 9,738 $ 9,460 $ 47 $ 100,302 Charge-offs (6,616 ) (1,108 ) (2,553 ) — (10,277 ) Recoveries 479 73 721 — 1,273 Provision 2,171 3,523 1,312 (6 ) 7,000 Ending balance $ 77,091 $ 12,226 $ 8,940 $ 41 $ 98,298 Six Months Ended June 30, 2018 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 81,156 $ 9,312 $ 10,083 $ 53 $ 100,604 Charge-offs (13,934 ) (2,850 ) (5,253 ) — (22,037 ) Recoveries 950 303 1,478 — 2,731 Provision 8,919 5,461 2,632 (12 ) 17,000 Ending balance $ 77,091 $ 12,226 $ 8,940 $ 41 $ 98,298 Ending balance: individually evaluated for impairment $ 4,340 $ 121 $ — $ — $ 4,461 Ending balance: collectively evaluated for impairment 72,751 12,105 8,940 41 93,837 Loans: Ending balance: loans $ 5,441,779 $ 5,804,252 $ 365,599 $ 19,998 $ 11,631,628 Ending balance: individually evaluated for impairment 41,556 10,791 — — 52,347 Ending balance: collectively evaluated for impairment 5,400,223 5,793,461 365,599 19,998 11,579,281 This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2017 (in thousands): Three Months Ended June 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 73,197 $ 10,512 $ 9,510 $ 104 $ 93,323 Charge-offs (9,602 ) (263 ) (2,624 ) — (12,489 ) Recoveries 1,631 358 474 — 2,463 Provision 11,632 1,298 1,601 (31 ) 14,500 Ending balance $ 76,858 $ 11,905 $ 8,961 $ 73 $ 97,797 Six Months Ended June 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 71,657 $ 10,569 $ 9,311 $ 112 $ 91,649 Charge-offs (15,583 ) (449 ) (5,161 ) — (21,193 ) Recoveries 2,329 419 1,093 — 3,841 Provision 18,455 1,366 3,718 (39 ) 23,500 Ending balance $ 76,858 $ 11,905 $ 8,961 $ 73 $ 97,797 Ending balance: individually evaluated for impairment $ 8,362 $ 74 $ — $ — $ 8,436 Ending balance: collectively evaluated for impairment 68,496 11,831 8,961 73 89,361 Loans: Ending balance: loans $ 5,208,864 $ 5,243,881 $ 368,029 $ 27,804 $ 10,848,578 Ending balance: individually evaluated for impairment 68,359 9,086 — — 77,445 Ending balance: collectively evaluated for impairment 5,140,505 5,234,795 368,029 27,804 10,771,133 |
Analysis of Impaired Loans | Impaired Loans This table provides an analysis of impaired loans by class at June 30, 2018 and December 31, 2017 (in thousands): As of June 30, 2018 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 76,063 $ 27,143 $ 14,413 $ 41,556 $ 4,340 $ 50,064 Asset-based — — — — — — Factoring — — — — — 458 Commercial – credit card — — — — — — Real estate: Real estate – construction 108 93 — 93 — 93 Real estate – commercial 17,261 10,183 216 10,399 45 12,628 Real estate – residential 311 203 96 299 76 309 Real estate – HELOC — — — — — — Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — — Leases — — — — — — Total $ 93,743 $ 37,622 $ 14,725 $ 52,347 $ 4,461 $ 63,552 As of December 31, 2017 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 84,749 $ 44,525 $ 16,465 $ 60,990 $ 6,299 $ 65,385 Asset-based — — — — — — Factoring 830 — 830 830 306 207 Commercial – credit card — — — — — — Real estate: Real estate – construction 108 93 — 93 — 148 Real estate – commercial 16,284 7,968 4,477 12,445 3 10,506 Real estate – residential 427 321 97 418 75 221 Real estate – HELOC — — — — — — Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — 8 Leases — — — — — — Total $ 102,398 $ 52,907 $ 21,869 $ 74,776 $ 6,683 $ 76,475 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Securities Available for Sale | This table provides detailed information about securities available for sale at June 30, 2018 and December 31, 2017 (in thousands): June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 40,098 $ — $ (2,008 ) $ 38,090 U.S. Agencies 200 — (2 ) 198 Mortgage-backed 3,809,164 819 (137,027 ) 3,672,956 State and political subdivisions 2,333,242 3,291 (37,561 ) 2,298,972 Corporates 1,470 — (2 ) 1,468 Total $ 6,184,174 $ 4,110 $ (176,600 ) $ 6,011,684 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 40,092 $ — $ (1,449 ) $ 38,643 U.S. Agencies 14,762 — (10 ) 14,752 Mortgage-backed 3,719,369 1,914 (72,040 ) 3,649,243 State and political subdivisions 2,546,517 11,965 (15,809 ) 2,542,673 Corporates 13,278 — (12 ) 13,266 Total $ 6,334,018 $ 13,879 $ (89,320 ) $ 6,258,577 |
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 June 30, 2018 and December 31, 2017 (in thousands): Less than 12 months 12 months or more Total June 30, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Description of Securities U.S. Treasury $ 9,802 $ (134 ) $ 28,288 $ (1,874 ) $ 38,090 $ (2,008 ) U.S. Agencies 198 (2 ) — — 198 (2 ) Mortgage-backed 2,143,258 (57,180 ) 1,407,240 (79,847 ) 3,550,498 (137,027 ) State and political subdivisions 1,488,089 (20,901 ) 341,027 (16,660 ) 1,829,116 (37,561 ) Corporates 1,468 (2 ) — — 1,468 (2 ) Total temporarily-impaired debt securities available for sale $ 3,642,815 $ (78,219 ) $ 1,776,555 $ (98,381 ) $ 5,419,370 $ (176,600 ) Less than 12 months 12 months or more Total December 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Description of Securities U.S. Treasury $ 9,851 $ (64 ) $ 28,792 $ (1,385 ) $ 38,643 $ (1,449 ) U.S. Agencies 14,553 (10 ) — — 14,553 (10 ) Mortgage-backed 1,990,006 (19,980 ) 1,562,333 (52,060 ) 3,552,339 (72,040 ) State and political subdivisions 1,076,930 (7,325 ) 376,560 (8,484 ) 1,453,490 (15,809 ) Corporates 13,266 (12 ) — — 13,266 (12 ) Total temporarily-impaired debt securities available for sale $ 3,104,606 $ (27,391 ) $ 1,967,685 $ (61,929 ) $ 5,072,291 $ (89,320 ) |
Schedule of Federal Reserve Bank Stock and Federal Home Loan Bank Stock and Other Securities | The table below provides detailed information for FRB stock and Federal Home Loan Bank (FHLB) stock and other securities at June 30, 2018 and December 31, 2017 (in thousands): Gross Gross Amortized Unrealized Unrealized Fair June 30, 2018 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable — 5,018 — 5,018 Other securities – non-marketable 25,532 3,187 (452 ) 28,267 Total Other securities $ 58,794 $ 8,205 $ (452 ) $ 66,547 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2017 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable 3 4,637 — 4,640 Other securities – non-marketable 26,606 1,389 — 27,995 Total Other securities $ 59,871 $ 6,026 $ — $ 65,897 |
Available-for-sale Securities [Member] | |
Contractual Maturity Information | The following table presents contractual maturity information for securities available for sale at June 30, 2018 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 325,043 $ 324,844 Due after 1 year through 5 years 999,207 992,435 Due after 5 years through 10 years 750,393 730,715 Due after 10 years 300,367 290,734 Total 2,375,010 2,338,728 Mortgage-backed securities 3,809,164 3,672,956 Total securities available for sale $ 6,184,174 $ 6,011,684 |
Held-to-maturity Securities [Member] | |
Contractual Maturity Information | The following table shows the Company’s held-to-maturity investments’ amortized cost, fair value, and gross unrealized gains and losses at June 30, 2018 and December 31, 2017, respectively (in thousands): Gross Gross Amortized Unrealized Unrealized Fair June 30, 2018 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 6,919 $ — $ (52 ) $ 6,867 Due after 1 year through 5 years 106,654 226 (9,188 ) 97,692 Due after 5 years through 10 years 349,733 3,376 (20,134 ) 332,975 Due after 10 years 741,276 5,280 (80,153 ) 666,403 Total state and political subdivisions $ 1,204,582 $ 8,882 $ (109,527 ) $ 1,103,937 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2017 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 2,275 $ 3 $ (24 ) $ 2,254 Due after 1 year through 5 years 100,648 3,111 (2,834 ) 100,925 Due after 5 years through 10 years 372,234 5,006 (14,117 ) 363,123 Due after 10 years 785,857 6,952 (51,664 ) 741,145 Total state and political subdivisions $ 1,261,014 $ 15,072 $ (68,639 ) $ 1,207,447 |
Goodwill and Other Intangibles
Goodwill and Other Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill | Changes in the carrying amount of goodwill for the periods ended June 30, 2018 and December 31, 2017 by reportable segment are as follows (in thousands): Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Balances as of January 1, 2018 $ 59,419 $ 51,332 $ 70,116 $ — $ 180,867 Balances as of June 30, 2018 $ 59,419 $ 51,332 $ 70,116 $ — $ 180,867 Balances as of January 1, 2017 $ 59,419 $ 98,861 $ 70,116 $ — $ 228,396 Discontinued assets ─ goodwill and other intangibles, net — (47,529 ) — — (47,529 ) Balances as of December 31, 2017 $ 59,419 $ 51,332 $ 70,116 $ — $ 180,867 |
Changes in Intangible Assets | The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2018 and December 31, 2017 (in thousands) As of June 30, 2018 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 50,059 $ 71,342 $ 3,254 $ 124,655 Accumulated amortization 43,728 60,463 3,254 107,445 Net carrying amount $ 6,331 $ 10,879 $ — $ 17,210 As of December 31, 2017 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 50,059 $ 71,342 $ 3,254 $ 124,655 Accumulated amortization 42,209 58,935 3,254 104,398 Net carrying amount $ 7,850 $ 12,407 $ — $ 20,257 |
Aggregate Amortization Expense Recognized | The following table has the aggregate amortization expense recognized in each period (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Aggregate amortization expense $ 1,485 $ 1,924 $ 3,047 $ 3,970 |
Estimated Amortization Expense of Intangible Assets | The following table lists estimated amortization expense of intangible assets in future periods (in thousands): For the six months ending December 31, 2018 $ 2,666 For the year ending December 31, 2019 4,714 For the year ending December 31, 2020 3,759 For the year ending December 31, 2021 2,755 For the year ending December 31, 2022 1,815 For the year ending December 31, 2023 1,097 |
Securities Sold Under Agreeme27
Securities Sold Under Agreements to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Repurchase Agreements | |
Remaining Contractual Maturities Of Repurchase Agreements | The table below presents the remaining contractual maturities of repurchase agreements outstanding at June 30, 2018, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands): As of June 30, 2018 Remaining Contractual Maturities of the Agreements Repurchase agreements, secured by: On Demand 2-29 Days Over 90 Days Total U.S. Treasury $ — $ 15,755 $ — $ 15,755 U.S. Agencies — 1,267,219 4,500 1,271,719 Total repurchase agreements $ — $ 1,282,974 $ 4,500 $ 1,287,474 |
Business Segment Reporting (Tab
Business Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Line of Business Segment Financial Results | Business Segment financial results for the three and six months ended June 30, 2018 and June 30, 2017 were as follows (in thousands): Three Months Ended June 30, 2018 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 93,011 $ 16,279 $ 31,111 $ 9,825 $ 150,226 Provision for loan losses 5,139 322 1,539 — 7,000 Noninterest income 19,178 43,411 28,720 8,980 100,289 Noninterest expense 62,859 47,551 54,259 12,549 177,218 Income before taxes 44,191 11,817 4,033 6,256 66,297 Income tax expense 7,246 1,939 662 1,026 10,873 Income from continuing operations $ 36,945 $ 9,878 $ 3,371 $ 5,230 $ 55,424 Average assets $ 9,740,000 $ 3,934,000 $ 4,799,000 $ 2,147,000 $ 20,620,000 Three Months Ended June 30, 2017 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 86,810 $ 12,415 $ 30,615 $ 7,554 $ 137,394 Provision for loan losses 12,114 320 2,066 — 14,500 Noninterest income 21,714 48,161 31,135 9,296 110,306 Noninterest expense 62,545 46,610 56,516 11,268 176,939 Income before taxes 33,865 13,646 3,168 5,582 56,261 Income tax expense 7,188 3,137 106 1,059 11,490 Income from continuing operations $ 26,677 $ 10,509 $ 3,062 $ 4,523 $ 44,771 Average assets $ 9,842,000 $ 3,316,000 $ 5,293,000 $ 1,864,000 $ 20,315,000 Six Months Ended June 30, 2018 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 185,006 $ 32,023 $ 62,003 $ 19,116 $ 298,148 Provision for loan losses 13,117 672 3,211 — 17,000 Noninterest income 39,775 88,830 59,434 17,775 205,814 Noninterest expense 125,131 94,383 109,225 24,355 353,094 Income before taxes 86,533 25,798 9,001 12,536 133,868 Income tax expense 13,516 4,030 1,406 1,959 20,911 Income from continuing operations $ 73,017 $ 21,768 $ 7,595 $ 10,577 $ 112,957 Average assets $ 9,765,000 $ 3,882,000 $ 4,885,000 $ 2,151,000 $ 20,683,000 Six Months Ended June 30, 2017 Commercial Banking Institutional Banking Personal Banking Healthcare Services Total Net interest income $ 172,108 $ 23,971 $ 60,809 $ 14,821 $ 271,709 Provision for loan losses 18,934 789 3,777 — 23,500 Noninterest income 40,919 93,828 59,671 18,805 213,223 Noninterest expense 125,202 91,362 112,632 21,553 350,749 Income before taxes 68,891 25,648 4,071 12,073 110,683 Income tax expense 14,870 5,456 1,015 2,595 23,936 Income from continuing operations $ 54,021 $ 20,192 $ 3,056 $ 9,478 $ 86,747 Average assets $ 9,730,000 $ 3,391,000 $ 5,317,000 $ 1,837,000 $ 20,275,000 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Disaggregation of Revenue According to Revenue Stream and Business Segment | The following table depicts the disaggregation of revenue according to revenue stream and Business Segment for the three and six months ended June 30, 2018 and June 30, 2017. As stated in Note 8, “Business Segment Reporting,” for comparability purposes, amounts in all periods are based on methodologies in effect at June 30, 2018 and previously reported results have been reclassified in this filing to confirm to the current organizational structure. Disaggregated revenue is as follows (in thousands): Three Months Ended June 30, 2018 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 26,846 $ 15,999 $ — $ — $ 42,845 Trading and investment banking — — — — 4,653 4,653 Service charges on deposit accounts 7,624 5,808 2,777 4,478 35 20,722 Insurance fees and commissions — — 340 — — 340 Brokerage fees 49 3,975 2,267 — — 6,291 Bankcard fees 15,025 1,420 5,584 4,042 (8,887 ) 17,184 Gains on sales of securities available for sale, net — — — — 228 228 Other 678 136 879 186 6,147 8,026 Total Noninterest income $ 23,376 $ 38,185 $ 27,846 $ 8,706 $ 2,176 $ 100,289 Three Months Ended June 30, 2017 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 27,962 $ 16,849 $ — $ — $ 44,811 Trading and investment banking — 169 — — 6,004 6,173 Service charges on deposit accounts 8,083 7,494 2,864 4,260 30 22,731 Insurance fees and commissions — — 513 — — 513 Brokerage fees 36 3,703 2,147 3 — 5,889 Bankcard fees 13,416 1,583 5,902 4,490 (5,157 ) 20,234 Gains on sales of securities available for sale, net — — — — 1,280 1,280 Other 1,507 151 708 93 6,216 8,675 Total Noninterest income $ 23,042 $ 41,062 $ 28,983 $ 8,846 $ 8,373 $ 110,306 Six Months Ended June 30, 2018 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 54,542 $ 32,305 $ — $ — $ 86,847 Trading and investment banking — — — — 8,754 8,754 Service charges on deposit accounts 15,415 13,038 5,589 8,516 69 42,627 Insurance fees and commissions — — 641 — — 641 Brokerage fees 101 8,036 4,507 — — 12,644 Bankcard fees 29,822 3,055 10,897 8,346 (16,813 ) 35,307 Gains on sales of securities available for sale, net — — — — 367 367 Other 1,133 255 1,785 335 15,119 18,627 Total Noninterest income $ 46,471 $ 78,926 $ 55,724 $ 17,197 $ 7,496 $ 205,814 Six Months Ended June 30, 2017 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Healthcare Services Revenue (Expense) out of Scope of ASU 606 Total Trust and securities processing $ — $ 54,479 $ 32,873 $ — $ — $ 87,352 Trading and investment banking — 674 — — 13,041 13,715 Service charges on deposit accounts 16,103 14,849 5,729 8,065 60 44,806 Insurance fees and commissions — — 1,159 — — 1,159 Brokerage fees 76 6,959 4,228 3 — 11,266 Bankcard fees 25,564 3,088 11,340 9,712 (11,718 ) 37,986 Gains on sales of securities available for sale, net — — — — 1,748 1,748 Other 1,996 314 1,472 169 11,240 15,191 Total Noninterest income $ 43,739 $ 80,363 $ 56,801 $ 17,949 $ 14,371 $ 213,223 |
Commitments, Contingencies an30
Commitments, Contingencies and Guarantees (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 (in thousands) : Contract or Notional Amount June 30, December 31, 2018 2017 Commitments to extend credit for loans (excluding credit card loans) $ 6,146,143 $ 6,689,467 Commitments to extend credit under credit card loans 3,053,379 2,975,507 Commercial letters of credit 4,987 813 Standby letters of credit 330,478 316,054 Forward contracts 33,575 29,007 Spot foreign exchange contracts 665 628 |
Derivatives and Hedging Activ31
Derivatives and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 and December 31, 2017 ( in thousands Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, Fair Value 2018 2017 2018 2017 Interest Rate Products: Derivatives not designated as hedging instruments $ 2,855 $ 10,116 $ 7,970 $ 7,326 Derivatives designated as hedging instruments 115 33 — 1,580 Total $ 2,970 $ 10,149 $ 7,970 $ 8,906 |
Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities | This table provides a summary of the amount of gain or loss recognized in Other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2018 and June 30, 2017 (in thousands) Amount of Gain (Loss) Recognized For the Three Months Ended For the Six Months Ended June 30, June 30, June 30, June 30, 2018 2017 2018 2017 Interest Rate Products Derivatives not designated as hedging instruments $ 137 $ (168 ) $ 473 $ (516 ) Total $ 137 $ (168 ) $ 473 $ (516 ) Interest Rate Products Derivatives designated as hedging instruments: Fair value adjustments on derivatives $ 53 $ (86 ) $ 134 $ (132 ) Fair value adjustments on hedged items (49 ) 88 (130 ) 134 Total $ 4 $ 2 $ 4 $ 2 |
Summary of Amount of Loss Recognized in AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities | This table provides a summary of the amount of gain or loss recognized in AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2018 and June 30, 2017 (in thousands) Amount of Gain Recognized in Other Comprehensive Income on Derivatives For the Three Months Ended For the Six Months Ended June 30, June 30, June 30, June 30, Derivatives in Cash Flow Hedging Relationships 2018 2017 2018 2017 Interest Rate Products Derivatives designated as cash flow hedging instruments $ 910 $ (1,157 ) $ 3,112 $ (911 ) Total $ 910 $ (1,157 ) $ 3,112 $ (911 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis as of June 30, 2018 and December 31, 2017 (in thousands): Fair Value Measurement at June 30, 2018 Description June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 338 $ 338 $ — $ — U.S. Agencies 2,088 — 2,088 — State and political subdivisions 41,308 — 41,308 — Corporates 10,138 10,138 — — Trading – other 13,219 12,464 755 — Trading securities 67,091 22,940 44,151 — U.S. Treasury 38,090 38,090 — — U.S. Agencies 198 — 198 — Mortgage-backed 3,672,956 — 3,672,956 — State and political subdivisions 2,298,972 — 2,298,972 — Corporates 1,468 1,468 — — Available for sale securities 6,011,684 39,558 5,972,126 — Company-owned life insurance 56,770 — 56,770 — Bank-owned life insurance 269,703 — 269,703 — Derivatives 2,970 — 2,970 — Total $ 6,408,218 $ 62,498 $ 6,345,720 $ — Liabilities Deferred compensation $ 53,084 $ 53,084 $ — $ — Derivatives 7,970 — 7,970 — Securities sold not yet purchased 16,834 — 16,834 — Total $ 77,888 $ 53,084 $ 24,804 $ — Fair Value Measurement at December 31, 2017 Description December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 18 $ 18 $ — $ — U.S. Agencies 9,976 — 9,976 — Mortgage-backed 1,949 — 1,949 — State and political subdivisions 27,114 — 27,114 — Corporates 1,885 1,885 — — Trading – other 13,113 12,434 679 — Trading securities 54,055 14,337 39,718 — U.S. Treasury 38,643 38,643 — — U.S. Agencies 14,752 — 14,752 — Mortgage-backed 3,649,243 — 3,649,243 — State and political subdivisions 2,542,673 — 2,542,673 — Corporates 13,266 13,266 — — Available for sale securities 6,258,577 51,909 6,206,668 — Company-owned life insurance 53,577 — 53,577 — Bank-owned life insurance 265,823 — 265,823 — Derivatives 10,149 — 10,149 — Total $ 6,642,181 $ 66,246 $ 6,575,935 $ — Liabilities Deferred compensation $ 50,963 $ 50,963 $ — $ — Derivatives 8,906 — 8,906 — Securities sold not yet purchased 4,130 — 4,130 — Total $ 63,999 $ 50,963 $ 13,036 $ — |
Assets Measured at Fair Value on Non-Recurring Basis | Assets measured at fair value on a non-recurring basis as of June 30, 2018 and December 31, 2017 (in thousands): Fair Value Measurement at June 30, 2018 Using Description June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains Recognized During the Six Months Ended June 30 Impaired loans $ 10,264 $ — $ — $ 10,264 $ 2,222 Other real estate owned 3,683 — — 3,683 — Total $ 13,947 $ — $ — $ 13,947 $ 2,222 Fair Value Measurement at December 31, 2017 Using Description December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains Recognized During the Twelve Months Ended December 31 Impaired loans $ 15,186 $ — $ — $ 15,186 $ 1,251 Other real estate owned 1,488 — — 1,488 13 Total $ 16,674 $ — $ — $ 16,674 $ 1,264 |
Estimated Fair Value of Financial Instruments | The estimated fair value of the Company’s financial instruments at June 30, 2018 and December 31, 2017 are as follows (in thousands): Fair Value Measurement at June 30, 2018 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 563,654 $ 508,224 $ 55,430 $ — $ 563,654 Securities available for sale 6,011,684 39,558 5,972,126 — 6,011,684 Securities held to maturity 1,204,582 — 1,103,937 — 1,103,937 Trading securities 67,091 22,940 44,151 — 67,091 Other securities 66,547 — 66,547 — 66,547 Loans (exclusive of allowance for loan loss) 11,635,110 — 11,660,240 — 11,660,240 Derivatives 2,970 — 2,970 — 2,970 FINANCIAL LIABILITIES Demand and savings deposits 15,466,124 15,466,124 — — 15,466,124 Time deposits 919,954 — 919,954 — 919,954 Other borrowings 1,666,158 378,684 1,287,474 — 1,666,158 Long-term debt 78,692 — 78,984 — 78,984 Derivatives 7,970 — 7,970 — 7,970 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 2,691 Commercial letters of credit 35 Standby letters of credit 1,291 Fair Value Measurement at December 31, 2017 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 1,936,084 $ 1,749,618 $ 186,466 $ — $ 1,936,084 Securities available for sale 6,258,577 51,909 6,206,668 — 6,258,577 Securities held to maturity 1,261,014 — 1,207,447 — 1,207,447 Trading securities 54,055 14,337 39,718 — 54,055 Other securities 65,897 — 65,897 — 65,897 Loans (exclusive of allowance for loan loss) 11,281,973 — 11,318,764 — 11,318,764 Derivatives 10,149 — 10,149 — 10,149 FINANCIAL LIABILITIES Demand and savings deposits 16,742,736 16,742,736 — — 16,742,736 Time deposits 1,280,264 — 1,280,264 — 1,280,264 Other borrowings 1,260,704 11,334 1,249,370 — 1,260,704 Long-term debt 79,281 — 79,496 — 79,496 Derivatives 8,906 — 8,906 — 8,906 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 6,654 Commercial letters of credit 136 Standby letters of credit 2,514 |
Divestitures (Tables)
Divestitures (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Schedule of Components of (Loss) Income from Discontinued Operations, Net of Taxes and Consolidated Statements of Cash Flows | This table summarizes the components of (loss) income from discontinued operations, net of taxes, for the three and six months ended June 30, 2018 and June 30, 2017 presented in the Consolidated Statements of Income (in thousands) For the Three Months Ended For the Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Total noninterest income $ — $ 17,856 $ — $ 35,719 Total noninterest expense — 20,455 917 35,411 (Loss) income from discontinued operations — (2,599 ) (917 ) 308 Income tax (benefit) expense — (649 ) (170 ) 53 Net (loss) income on discontinued operations $ — $ (1,950 ) $ (747 ) $ 255 The components of net cash provided by operating activities of discontinued operations included in the Consolidated Statements of Cash Flows are as follows (in thousands) For the Six Months Ended June 30, 2018 June 30, 2017 (Loss) income from discontinued operations $ (747 ) $ 255 Depreciation and amortization — 1,647 Net cash provided by operating activities of discontinued operations $ (747 ) $ 1,902 |
Financial Statement Presentat34
Financial Statement Presentation - Additional Information (Detail) $ in Millions | Nov. 17, 2017USD ($) |
Scout Investments Inc [Member] | |
Consideration received on sale of stock of subsidiaries | $ 172.5 |
Summary of Cash and Cash Equiva
Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Accounting Policies [Abstract] | ||||
Due from the FRB | $ 92,990 | $ 282,402 | ||
Cash and due from banks | 379,433 | $ 392,723 | 379,148 | |
Cash and cash equivalents at end of period | $ 472,423 | $ 1,716,262 | $ 661,550 | $ 1,063,967 |
Summary of Significant Accoun36
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Accounting Policies [Abstract] | ||||
Interest bearing amounts held at other financial institutions | $ 20.9 | $ 49.7 | $ 20.9 | $ 49.7 |
Dilutive effect of common stock issuable upon exercise of options and nonvested restricted shares | 455,102 | 579,116 | 487,366 | 638,922 |
Anti-dilutive shares | 137,630 | 150,739 |
New Accounting Pronouncements -
New Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 01, 2018 | Feb. 28, 2018 |
Accounting Standards Update 2016-01 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Cumulative effect adjustment | $ 132 | |
Accounting Standards Update 2017-12 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Cumulative effect adjustment | $ 13 | |
Accounting Standards Update 2018-02 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Reclassified stranded tax effects from AOCI to retained earnings | $ 12,900 |
Summary of Loan Classes and Agi
Summary of Loan Classes and Aging of Past Due Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 71,781 | $ 86,369 | |
Non- Accrual Loans | 56,030 | 59,142 | |
Current | 11,559,847 | 11,194,144 | |
Total Loans | 11,631,628 | 11,280,513 | $ 10,848,578 |
30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 12,868 | 24,136 | |
Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 2,883 | 3,091 | |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 365,599 | 368,029 | |
Leases [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 19,998 | 23,967 | |
Total Loans | 19,998 | 23,967 | $ 27,804 |
Prime [Member] | Real estate - residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 1,014 | 1,720 | |
Non- Accrual Loans | 683 | 929 | |
Current | 686,250 | 636,871 | |
Total Loans | 687,264 | 638,591 | |
Prime [Member] | Real estate - residential [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 331 | 791 | |
Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 44,096 | 50,532 | |
Non- Accrual Loans | 37,568 | 38,644 | |
Current | 4,592,913 | 4,502,508 | |
Total Loans | 4,637,009 | 4,553,040 | |
Commercial [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 5,709 | 11,216 | |
Commercial [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 819 | 672 | |
Asset-based [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 368,328 | 336,614 | |
Total Loans | 368,328 | 336,614 | |
Factoring [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 249,351 | 221,672 | |
Total Loans | 249,351 | 221,672 | |
Commercial - credit card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 712 | 466 | |
Current | 186,379 | 171,825 | |
Total Loans | 187,091 | 172,291 | |
Commercial - credit card [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 676 | 387 | |
Commercial - credit card [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 36 | 79 | |
Construction [Member] | Real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 7,002 | ||
Non- Accrual Loans | 93 | ||
Current | 789,458 | 710,847 | |
Total Loans | 789,458 | 717,849 | |
Construction [Member] | Real estate [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 6,666 | ||
Construction [Member] | Real estate [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 243 | ||
Real estate - commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 17,580 | 16,947 | |
Non- Accrual Loans | 14,245 | 16,115 | |
Current | 3,731,046 | 3,546,683 | |
Total Loans | 3,748,626 | 3,563,630 | |
Real estate - commercial [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 3,335 | 832 | |
Real estate - HELOC [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 3,880 | 4,267 | |
Non- Accrual Loans | 3,089 | 3,013 | |
Current | 575,024 | 644,112 | |
Total Loans | 578,904 | 648,379 | |
Real estate - HELOC [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 791 | 1,254 | |
Credit card [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 4,138 | 4,524 | |
Non- Accrual Loans | 407 | 312 | |
Current | 223,187 | 248,173 | |
Total Loans | 227,325 | 252,697 | |
Credit card [Member] | Consumer [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 1,875 | 2,155 | |
Credit card [Member] | Consumer [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 1,856 | 2,057 | |
Other [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 361 | 911 | |
Non- Accrual Loans | 38 | 36 | |
Current | 137,913 | 150,872 | |
Total Loans | 138,274 | 151,783 | |
Other [Member] | Consumer [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 151 | 835 | |
Other [Member] | Consumer [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 172 | $ 40 |
Loans and Allowance for Loan 39
Loans and Allowance for Loan Losses - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Proceeds from sales of loans held for sale | $ 24,030,000 | $ 35,390,000 | |||
Non- Accrual Loans | $ 56,030,000 | 56,030,000 | $ 59,142,000 | ||
Restructured loans | 21,100,000 | 21,100,000 | 41,000,000 | ||
Total Past Due | 71,781,000 | 71,781,000 | 86,369,000 | ||
Commitments to lend to borrowers with loan modifications classified as TDR's | $ 0 | $ 1,600 | $ 0 | $ 1,600 | |
Number of Contracts | 0 | ||||
Real estate - residential [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of Contracts | 1 | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 93,000 | $ 93,000 | |||
Post-Modification Outstanding Recorded Investment | 92,000 | 92,000 | |||
Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Non- Accrual Loans | 37,568,000 | 37,568,000 | 38,644,000 | ||
Total Past Due | $ 44,096,000 | $ 44,096,000 | 50,532,000 | ||
Number of Contracts | 1 | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 6,200,000 | $ 6,200,000 | $ 7,200,000 | ||
Post-Modification Outstanding Recorded Investment | 6,100,000 | $ 6,100,000 | $ 7,200,000 | ||
Revolving Commercial Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of days past due to consider loan as a loss and charged off | 90 days | ||||
Closed-End Retail Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of days past due to consider loan as a loss and charged off | 120 days | ||||
Open-End Retail Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of days past due to consider loan as a loss and charged off | 180 days | ||||
Greater than 90 days Past Due and Accruing [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Past Due | 2,883,000 | $ 2,883,000 | 3,091,000 | ||
Greater than 90 days Past Due and Accruing [Member] | Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Past Due | $ 819,000 | $ 819,000 | $ 672,000 |
Credit Risk Profile by Risk Rat
Credit Risk Profile by Risk Rating - Originated and Non-PCI Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | $ 11,631,628 | $ 11,280,513 | $ 10,848,578 |
Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 4,637,009 | 4,553,040 | |
Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 4,637,009 | 4,553,040 | |
Asset-based [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 368,328 | 336,614 | |
Asset-based [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 368,328 | 336,614 | |
Factoring [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 249,351 | 221,672 | |
Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 249,351 | 221,672 | |
Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 789,458 | 717,849 | |
Real estate - commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,748,626 | 3,563,630 | |
Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,748,626 | 3,563,630 | |
Non-watch list [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 4,142,433 | 4,048,238 | |
Non-watch list [Member] | Asset-based [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 291,213 | 306,899 | |
Non-watch list [Member] | Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 249,163 | 220,795 | |
Non-watch list [Member] | Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 787,424 | 716,830 | |
Non-watch list [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,594,253 | 3,434,982 | |
Watch [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 161,466 | 162,788 | |
Watch [Member] | Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 1,841 | 631 | |
Watch [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 55,776 | 50,715 | |
Special Mention [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 117,253 | 106,638 | |
Special Mention [Member] | Asset-based [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 77,115 | 29,715 | |
Special Mention [Member] | Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 188 | 47 | |
Special Mention [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 34,051 | 35,940 | |
Substandard [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 215,857 | 235,376 | |
Substandard [Member] | Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 830 | ||
Substandard [Member] | Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 193 | 388 | |
Substandard [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | $ 64,546 | $ 41,993 |
Credit Risk Profile Based on Pa
Credit Risk Profile Based on Payment Activity - Originated and Non-PCI Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | $ 11,631,628 | $ 11,280,513 | $ 10,848,578 |
Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 365,599 | 368,029 | |
Leases [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 19,998 | 23,967 | $ 27,804 |
Commercial - credit card [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 187,091 | 172,291 | |
Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 578,904 | 648,379 | |
Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 227,325 | 252,697 | |
Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 138,274 | 151,783 | |
Originated and Non-PCI Loans [Member] | Real estate - residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 687,264 | 638,591 | |
Originated and Non-PCI Loans [Member] | Leases [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 19,998 | 23,967 | |
Originated and Non-PCI Loans [Member] | Commercial - credit card [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 187,091 | 172,291 | |
Originated and Non-PCI Loans [Member] | Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 578,904 | 648,379 | |
Originated and Non-PCI Loans [Member] | Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 227,325 | 252,697 | |
Originated and Non-PCI Loans [Member] | Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 138,274 | 151,783 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Real estate - residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 686,581 | 637,662 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Leases [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 19,998 | 23,967 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Commercial - credit card [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 187,091 | 172,291 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 575,815 | 645,366 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 226,918 | 252,385 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 138,236 | 151,747 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Real estate - residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 683 | 929 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 3,089 | 3,013 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 407 | 312 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | $ 38 | $ 36 |
Rollforward of Allowance for Lo
Rollforward of Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | $ 100,302 | $ 93,323 | $ 100,604 | $ 91,649 | |
Charge-offs | (10,277) | (12,489) | (22,037) | (21,193) | |
Recoveries | 1,273 | 2,463 | 2,731 | 3,841 | |
Provision | 7,000 | 14,500 | 17,000 | 23,500 | |
Ending balance | 98,298 | 97,797 | 98,298 | 97,797 | |
Ending balance: individually evaluated for impairment | 4,461 | 8,436 | 4,461 | 8,436 | $ 6,683 |
Ending balance: collectively evaluated for impairment | 93,837 | 89,361 | 93,837 | 89,361 | |
Ending balance: loans | 11,631,628 | 10,848,578 | 11,631,628 | 10,848,578 | |
Ending balance: individually evaluated for impairment | 52,347 | 77,445 | 52,347 | 77,445 | |
Ending balance: collectively evaluated for impairment | 11,579,281 | 10,771,133 | 11,579,281 | 10,771,133 | |
Commercial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 81,057 | 73,197 | 81,156 | 71,657 | |
Charge-offs | (6,616) | (9,602) | (13,934) | (15,583) | |
Recoveries | 479 | 1,631 | 950 | 2,329 | |
Provision | 2,171 | 11,632 | 8,919 | 18,455 | |
Ending balance | 77,091 | 76,858 | 77,091 | 76,858 | |
Ending balance: individually evaluated for impairment | 4,340 | 8,362 | 4,340 | 8,362 | |
Ending balance: collectively evaluated for impairment | 72,751 | 68,496 | 72,751 | 68,496 | |
Ending balance: loans | 5,441,779 | 5,208,864 | 5,441,779 | 5,208,864 | |
Ending balance: individually evaluated for impairment | 41,556 | 68,359 | 41,556 | 68,359 | |
Ending balance: collectively evaluated for impairment | 5,400,223 | 5,140,505 | 5,400,223 | 5,140,505 | |
Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 9,738 | 10,512 | 9,312 | 10,569 | |
Charge-offs | (1,108) | (263) | (2,850) | (449) | |
Recoveries | 73 | 358 | 303 | 419 | |
Provision | 3,523 | 1,298 | 5,461 | 1,366 | |
Ending balance | 12,226 | 11,905 | 12,226 | 11,905 | |
Ending balance: individually evaluated for impairment | 121 | 74 | 121 | 74 | |
Ending balance: collectively evaluated for impairment | 12,105 | 11,831 | 12,105 | 11,831 | |
Ending balance: loans | 5,804,252 | 5,243,881 | 5,804,252 | 5,243,881 | |
Ending balance: individually evaluated for impairment | 10,791 | 9,086 | 10,791 | 9,086 | |
Ending balance: collectively evaluated for impairment | 5,793,461 | 5,234,795 | 5,793,461 | 5,234,795 | |
Consumer [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 9,460 | 9,510 | 10,083 | 9,311 | |
Charge-offs | (2,553) | (2,624) | (5,253) | (5,161) | |
Recoveries | 721 | 474 | 1,478 | 1,093 | |
Provision | 1,312 | 1,601 | 2,632 | 3,718 | |
Ending balance | 8,940 | 8,961 | 8,940 | 8,961 | |
Ending balance: collectively evaluated for impairment | 8,940 | 8,961 | 8,940 | 8,961 | |
Ending balance: loans | 365,599 | 368,029 | 365,599 | 368,029 | |
Ending balance: collectively evaluated for impairment | 365,599 | 368,029 | 365,599 | 368,029 | |
Leases [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 47 | 104 | 53 | 112 | |
Provision | (6) | (31) | (12) | (39) | |
Ending balance | 41 | 73 | 41 | 73 | |
Ending balance: collectively evaluated for impairment | 41 | 73 | 41 | 73 | |
Ending balance: loans | 19,998 | 27,804 | 19,998 | 27,804 | |
Ending balance: collectively evaluated for impairment | $ 19,998 | $ 27,804 | $ 19,998 | $ 27,804 |
Analysis of Impaired Loans by C
Analysis of Impaired Loans by Class (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | $ 93,743 | $ 102,398 | |
Recorded Investment with No Allowance | 37,622 | 52,907 | |
Recorded Investment with Allowance | 14,725 | 21,869 | |
Total Recorded Investment | 52,347 | 74,776 | |
Related Allowance | 4,461 | 6,683 | $ 8,436 |
Average Recorded Investment | 63,552 | 76,475 | |
Real estate - residential [Member] | Prime [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 311 | 427 | |
Recorded Investment with No Allowance | 203 | 321 | |
Recorded Investment with Allowance | 96 | 97 | |
Total Recorded Investment | 299 | 418 | |
Related Allowance | 76 | 75 | |
Average Recorded Investment | 309 | 221 | |
Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 76,063 | 84,749 | |
Recorded Investment with No Allowance | 27,143 | 44,525 | |
Recorded Investment with Allowance | 14,413 | 16,465 | |
Total Recorded Investment | 41,556 | 60,990 | |
Related Allowance | 4,340 | 6,299 | |
Average Recorded Investment | 50,064 | 65,385 | |
Factoring [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 830 | ||
Recorded Investment with Allowance | 830 | ||
Total Recorded Investment | 830 | ||
Related Allowance | 306 | ||
Average Recorded Investment | 458 | 207 | |
Construction [Member] | Real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 108 | 108 | |
Recorded Investment with No Allowance | 93 | 93 | |
Total Recorded Investment | 93 | 93 | |
Average Recorded Investment | 93 | 148 | |
Real estate - commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 17,261 | 16,284 | |
Recorded Investment with No Allowance | 10,183 | 7,968 | |
Recorded Investment with Allowance | 216 | 4,477 | |
Total Recorded Investment | 10,399 | 12,445 | |
Related Allowance | 45 | 3 | |
Average Recorded Investment | $ 12,628 | 10,506 | |
Other [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment | $ 8 |
Securities Available for Sale (
Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 6,184,174 | $ 6,334,018 |
Gross Unrealized Gains | 4,110 | 13,879 |
Gross Unrealized Losses | (176,600) | (89,320) |
Available for sale | 6,011,684 | 6,258,577 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 40,098 | 40,092 |
Gross Unrealized Losses | (2,008) | (1,449) |
Available for sale | 38,090 | 38,643 |
U.S. Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 200 | 14,762 |
Gross Unrealized Losses | (2) | (10) |
Available for sale | 198 | 14,752 |
Mortgage-backed [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,809,164 | 3,719,369 |
Gross Unrealized Gains | 819 | 1,914 |
Gross Unrealized Losses | (137,027) | (72,040) |
Available for sale | 3,672,956 | 3,649,243 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,333,242 | 2,546,517 |
Gross Unrealized Gains | 3,291 | 11,965 |
Gross Unrealized Losses | (37,561) | (15,809) |
Available for sale | 2,298,972 | 2,542,673 |
Corporates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,470 | 13,278 |
Gross Unrealized Losses | (2) | (12) |
Available for sale | $ 1,468 | $ 13,266 |
Summary of Contractual Maturity
Summary of Contractual Maturity Information for Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Investments Debt And Equity Securities [Abstract] | ||
Due in 1 year or less, Amortized Cost | $ 325,043 | |
Due after 1 year through 5 years, Amortized Cost | 999,207 | |
Due after 5 years through 10 years, Amortized Cost | 750,393 | |
Due after 10 years, Amortized Cost | 300,367 | |
Total, Amortized Cost | 2,375,010 | |
Mortgage-backed securities, Amortized Cost | 3,809,164 | |
Amortized Cost | 6,184,174 | $ 6,334,018 |
Due in 1 year or less, Fair Value | 324,844 | |
Due after 1 year through 5 years, Fair Value | 992,435 | |
Due after 5 years through 10 years, Fair Value | 730,715 | |
Due after 10 years, Fair Value | 290,734 | |
Total, Fair Value | 2,338,728 | |
Mortgage-backed securities, Fair Value | 3,672,956 | |
Total securities available for sale, Fair Value | $ 6,011,684 | $ 6,258,577 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Proceeds from sales of securities available for sale | $ 41,272,000 | $ 271,824,000 | |
Gross realized gains from securities | 370,000 | 1,700,000 | |
Gross realized losses from securities | 3,000 | 0 | |
Sales of securities held to maturity | 0 | 0 | |
Unrealized gain (loss) on trading securities | 36,000 | $ (67,000) | |
Securities sold not yet purchased | 16,800,000 | $ 4,100,000 | |
Other securities - marketable [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Fair value of securities including alternative investment securities | 5,000,000 | 4,600,000 | |
Other Non-marketable Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Fair value of securities including alternative investment securities | 4,800,000 | 3,400,000 | |
Collateral Pledged | U.S. Government and Other Public Deposit [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Pledged securities for deposits | 5,000,000,000 | 5,700,000,000 | |
Collateral Pledged | Federal Reserve Discount Window [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Pledged securities for deposits | $ 1,600,000,000 | $ 1,800,000,000 |
Gross Unrealized Losses and Fai
Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 3,642,815 | $ 3,104,606 |
Less than 12 months, Unrealized Losses | (78,219) | (27,391) |
12 months or more, Fair Value | 1,776,555 | 1,967,685 |
12 months or more, Unrealized Losses | (98,381) | (61,929) |
Total Fair Value | 5,419,370 | 5,072,291 |
Total Unrealized Losses | (176,600) | (89,320) |
U.S. Treasury [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 9,802 | 9,851 |
Less than 12 months, Unrealized Losses | (134) | (64) |
12 months or more, Fair Value | 28,288 | 28,792 |
12 months or more, Unrealized Losses | (1,874) | (1,385) |
Total Fair Value | 38,090 | 38,643 |
Total Unrealized Losses | (2,008) | (1,449) |
U.S. Agencies [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 198 | 14,553 |
Less than 12 months, Unrealized Losses | (2) | (10) |
Total Fair Value | 198 | 14,553 |
Total Unrealized Losses | (2) | (10) |
Mortgage-backed [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 2,143,258 | 1,990,006 |
Less than 12 months, Unrealized Losses | (57,180) | (19,980) |
12 months or more, Fair Value | 1,407,240 | 1,562,333 |
12 months or more, Unrealized Losses | (79,847) | (52,060) |
Total Fair Value | 3,550,498 | 3,552,339 |
Total Unrealized Losses | (137,027) | (72,040) |
State and political subdivisions [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 1,488,089 | 1,076,930 |
Less than 12 months, Unrealized Losses | (20,901) | (7,325) |
12 months or more, Fair Value | 341,027 | 376,560 |
12 months or more, Unrealized Losses | (16,660) | (8,484) |
Total Fair Value | 1,829,116 | 1,453,490 |
Total Unrealized Losses | (37,561) | (15,809) |
Corporates [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 1,468 | 13,266 |
Less than 12 months, Unrealized Losses | (2) | (12) |
Total Fair Value | 1,468 | 13,266 |
Total Unrealized Losses | $ (2) | $ (12) |
Contractual Maturity Informatio
Contractual Maturity Information for Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Investments Debt And Equity Securities [Abstract] | ||
Due in 1 year or less, Amortized Cost | $ 6,919 | $ 2,275 |
Due after 1 year through 5 years, Amortized Cost | 106,654 | 100,648 |
Due after 5 years through 10 years, Amortized Cost | 349,733 | 372,234 |
Due after 10 years, Amortized Cost | 741,276 | 785,857 |
Total state and political subdivisions, Amortized Cost | 1,204,582 | 1,261,014 |
Due in 1 year or less, Gross Unrealized Gains | 3 | |
Due after 1 year through 5 years, Gross Unrealized Gains | 226 | 3,111 |
Due after 5 years through 10 years, Gross Unrealized Gains | 3,376 | 5,006 |
Due after 10 years, Gross Unrealized Gains | 5,280 | 6,952 |
Total state and political subdivisions, Gross Unrealized Gains | 8,882 | 15,072 |
Due in 1 year or less, Gross Unrealized Losses | (52) | (24) |
Due after 1 year through 5 years, Gross Unrealized Losses | (9,188) | (2,834) |
Due after 5 years through 10 years, Gross Unrealized Losses | (20,134) | (14,117) |
Due after 10 years, Gross Unrealized Losses | (80,153) | (51,664) |
Total state and political subdivisions, Gross Unrealized Losses | (109,527) | (68,639) |
Due in 1 year or less, Fair Value | 6,867 | 2,254 |
Due after 1 year through 5 years, Fair Value | 97,692 | 100,925 |
Due after 5 years through 10 years, Fair Value | 332,975 | 363,123 |
Due after 10 years, Fair Value | 666,403 | 741,145 |
Total state and political subdivisions, Fair Value | $ 1,103,937 | $ 1,207,447 |
Schedule of Federal Reserve Ban
Schedule of Federal Reserve Bank Stock and Federal Home Loan Bank Stock and Other Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Other Securities [Line Items] | ||
Fair Value | $ 66,547 | $ 65,897 |
Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 58,794 | 59,871 |
Gross Unrealized Gains | 8,205 | 6,026 |
Gross Unrealized Losses | (452) | 0 |
Fair Value | 66,547 | 65,897 |
FRB and FHLB stock [Member] | Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 33,262 | 33,262 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 33,262 | 33,262 |
Other securities - marketable [Member] | Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 0 | 3 |
Gross Unrealized Gains | 5,018 | 4,637 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 5,018 | 4,640 |
Other securities - non-marketable [Member] | Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 25,532 | 26,606 |
Gross Unrealized Gains | 3,187 | 1,389 |
Gross Unrealized Losses | (452) | 0 |
Fair Value | $ 28,267 | $ 27,995 |
Changes in Carrying Amount of G
Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | $ 180,867 | |
Discontinued assets ─ goodwill and other intangibles, net | 0 | $ (47,529) |
Ending Balance | 180,867 | 180,867 |
Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 180,867 | 228,396 |
Ending Balance | 180,867 | |
Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 180,867 | |
Ending Balance | 180,867 | 180,867 |
Commercial Banking [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Discontinued assets ─ goodwill and other intangibles, net | 0 | 0 |
Commercial Banking [Member] | Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 59,419 | 59,419 |
Ending Balance | 59,419 | |
Commercial Banking [Member] | Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 59,419 | |
Ending Balance | 59,419 | 59,419 |
Institutional Banking [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Discontinued assets ─ goodwill and other intangibles, net | 0 | (47,529) |
Institutional Banking [Member] | Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 51,332 | 98,861 |
Ending Balance | 51,332 | |
Institutional Banking [Member] | Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 51,332 | |
Ending Balance | 51,332 | 51,332 |
Personal Banking [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Discontinued assets ─ goodwill and other intangibles, net | 0 | 0 |
Personal Banking [Member] | Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 70,116 | 70,116 |
Ending Balance | 70,116 | |
Personal Banking [Member] | Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 70,116 | |
Ending Balance | 70,116 | 70,116 |
Healthcare Services [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Discontinued assets ─ goodwill and other intangibles, net | 0 | 0 |
Healthcare Services [Member] | Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 0 | 0 |
Ending Balance | 0 | |
Healthcare Services [Member] | Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 0 | |
Ending Balance | $ 0 | $ 0 |
Changes In Intangible Assets (D
Changes In Intangible Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 124,655 | $ 124,655 |
Accumulated amortization | 107,445 | 104,398 |
Net carrying amount | 17,210 | 20,257 |
Core deposit intangible assets [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 50,059 | 50,059 |
Accumulated amortization | 43,728 | 42,209 |
Net carrying amount | 6,331 | 7,850 |
Customer relationships [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 71,342 | 71,342 |
Accumulated amortization | 60,463 | 58,935 |
Net carrying amount | 10,879 | 12,407 |
Other intangible assets [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 3,254 | 3,254 |
Accumulated amortization | $ 3,254 | $ 3,254 |
Aggregate Amortization Expense
Aggregate Amortization Expense Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Aggregate amortization expense | $ 1,485 | $ 1,924 | $ 3,047 | $ 3,970 |
Estimated Amortization Expense
Estimated Amortization Expense of Intangible Assets (Detail) $ in Thousands | Jun. 30, 2018USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
For the six months ending December 31, 2018 | $ 2,666 |
For the year ending December 31, 2019 | 4,714 |
For the year ending December 31, 2020 | 3,759 |
For the year ending December 31, 2021 | 2,755 |
For the year ending December 31, 2022 | 1,815 |
For the year ending December 31, 2023 | $ 1,097 |
Remaining Contractual Maturitie
Remaining Contractual Maturities Of Repurchase Agreements (Detail) $ in Thousands | Jun. 30, 2018USD ($) |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | $ 1,287,474 |
2 to 29 days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 1,282,974 |
Over 90 Days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 4,500 |
U.S. Treasury [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 15,755 |
U.S. Treasury [Member] | 2 to 29 days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 15,755 |
U.S. Agencies [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 1,271,719 |
U.S. Agencies [Member] | 2 to 29 days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 1,267,219 |
U.S. Agencies [Member] | Over 90 Days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | $ 4,500 |
Business Segment Reporting - Ad
Business Segment Reporting - Additional Information (Detail) - Segment | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Segment Reporting [Abstract] | ||
Number of reportable segments | 4 | 3 |
Schedule of Business Segment Fi
Schedule of Business Segment Financial Results (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 150,226 | $ 137,394 | $ 298,148 | $ 271,709 |
Provision for loan losses | 7,000 | 14,500 | 17,000 | 23,500 |
Noninterest income | 100,289 | 110,306 | 205,814 | 213,223 |
Noninterest expense | 177,218 | 176,939 | 353,094 | 350,749 |
Income before taxes | 66,297 | 56,261 | 133,868 | 110,683 |
Income tax expense | 10,873 | 11,490 | 20,911 | 23,936 |
Income from continuing operations | 55,424 | 44,771 | 112,957 | 86,747 |
Average assets | 20,620,000 | 20,315,000 | 20,683,000 | 20,275,000 |
Commercial Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 93,011 | 86,810 | 185,006 | 172,108 |
Provision for loan losses | 5,139 | 12,114 | 13,117 | 18,934 |
Noninterest income | 19,178 | 21,714 | 39,775 | 40,919 |
Noninterest expense | 62,859 | 62,545 | 125,131 | 125,202 |
Income before taxes | 44,191 | 33,865 | 86,533 | 68,891 |
Income tax expense | 7,246 | 7,188 | 13,516 | 14,870 |
Income from continuing operations | 36,945 | 26,677 | 73,017 | 54,021 |
Average assets | 9,740,000 | 9,842,000 | 9,765,000 | 9,730,000 |
Personal Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 31,111 | 30,615 | 62,003 | 60,809 |
Provision for loan losses | 1,539 | 2,066 | 3,211 | 3,777 |
Noninterest income | 28,720 | 31,135 | 59,434 | 59,671 |
Noninterest expense | 54,259 | 56,516 | 109,225 | 112,632 |
Income before taxes | 4,033 | 3,168 | 9,001 | 4,071 |
Income tax expense | 662 | 106 | 1,406 | 1,015 |
Income from continuing operations | 3,371 | 3,062 | 7,595 | 3,056 |
Average assets | 4,799,000 | 5,293,000 | 4,885,000 | 5,317,000 |
Institutional Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 16,279 | 12,415 | 32,023 | 23,971 |
Provision for loan losses | 322 | 320 | 672 | 789 |
Noninterest income | 43,411 | 48,161 | 88,830 | 93,828 |
Noninterest expense | 47,551 | 46,610 | 94,383 | 91,362 |
Income before taxes | 11,817 | 13,646 | 25,798 | 25,648 |
Income tax expense | 1,939 | 3,137 | 4,030 | 5,456 |
Income from continuing operations | 9,878 | 10,509 | 21,768 | 20,192 |
Average assets | 3,934,000 | 3,316,000 | 3,882,000 | 3,391,000 |
Healthcare Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 9,825 | 7,554 | 19,116 | 14,821 |
Noninterest income | 8,980 | 9,296 | 17,775 | 18,805 |
Noninterest expense | 12,549 | 11,268 | 24,355 | 21,553 |
Income before taxes | 6,256 | 5,582 | 12,536 | 12,073 |
Income tax expense | 1,026 | 1,059 | 1,959 | 2,595 |
Income from continuing operations | 5,230 | 4,523 | 10,577 | 9,478 |
Average assets | $ 2,147,000 | $ 1,864,000 | $ 2,151,000 | $ 1,837,000 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - ASC 606 [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Disaggregation Of Revenue [Line Items] | |||||
Total receivables of revenue recognized | $ 54.8 | $ 54.8 | $ 53.5 | ||
Bankcard Fees [Member] | |||||
Disaggregation Of Revenue [Line Items] | |||||
Bankcard expenses | $ 9 | $ 5.3 | $ 17.1 | $ 12.1 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Disaggregation of Revenue According to Revenue Stream and Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||
Trading and investment banking | $ 4,653 | $ 6,173 | $ 8,754 | $ 13,715 |
Gains on sales of securities available for sale, net | 228 | 1,280 | 367 | 1,748 |
Other | 8,026 | 8,675 | 18,627 | 15,191 |
Total noninterest income | 100,289 | 110,306 | 205,814 | 213,223 |
Revenue (Expense) out of Scope of ASU 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Trading and investment banking | 4,653 | 6,004 | 8,754 | 13,041 |
Gains on sales of securities available for sale, net | 228 | 1,280 | 367 | 1,748 |
Other | 6,147 | 6,216 | 15,119 | 11,240 |
Total noninterest income | 2,176 | 8,373 | 7,496 | 14,371 |
Trust and Securities Processing [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 42,845 | 44,811 | 86,847 | 87,352 |
Service Charges On Deposit Accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 20,722 | 22,731 | 42,627 | 44,806 |
Noninterest income, including revenue from out of scope of ASU 606 | 20,722 | 22,731 | 42,627 | 44,806 |
Service Charges On Deposit Accounts [Member] | Revenue (Expense) out of Scope of ASU 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income, Revenue (Expense) out of Scope of ASU 606 | 35 | 30 | 69 | 60 |
Insurance Fees and Commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 340 | 513 | 641 | 1,159 |
Brokerage Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 6,291 | 5,889 | 12,644 | 11,266 |
Bankcard Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 17,184 | 20,234 | 35,307 | 37,986 |
Noninterest income, including revenue from out of scope of ASU 606 | 17,184 | 20,234 | 35,307 | 37,986 |
Bankcard Fees [Member] | Revenue (Expense) out of Scope of ASU 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income, Revenue (Expense) out of Scope of ASU 606 | (8,887) | (5,157) | (16,813) | (11,718) |
Commercial Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total noninterest income | 19,178 | 21,714 | 39,775 | 40,919 |
Commercial Banking [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Other | 678 | 1,507 | 1,133 | 1,996 |
Total noninterest income | 23,376 | 23,042 | 46,471 | 43,739 |
Commercial Banking [Member] | Service Charges On Deposit Accounts [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 7,624 | 8,083 | 15,415 | 16,103 |
Commercial Banking [Member] | Brokerage Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 49 | 36 | 101 | 76 |
Commercial Banking [Member] | Bankcard Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 15,025 | 13,416 | 29,822 | 25,564 |
Institutional Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total noninterest income | 43,411 | 48,161 | 88,830 | 93,828 |
Institutional Banking [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Trading and investment banking | 169 | 674 | ||
Other | 136 | 151 | 255 | 314 |
Total noninterest income | 38,185 | 41,062 | 78,926 | 80,363 |
Institutional Banking [Member] | Trust and Securities Processing [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 26,846 | 27,962 | 54,542 | 54,479 |
Institutional Banking [Member] | Service Charges On Deposit Accounts [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 5,808 | 7,494 | 13,038 | 14,849 |
Institutional Banking [Member] | Brokerage Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 3,975 | 3,703 | 8,036 | 6,959 |
Institutional Banking [Member] | Bankcard Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,420 | 1,583 | 3,055 | 3,088 |
Personal Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total noninterest income | 28,720 | 31,135 | 59,434 | 59,671 |
Personal Banking [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Other | 879 | 708 | 1,785 | 1,472 |
Total noninterest income | 27,846 | 28,983 | 55,724 | 56,801 |
Personal Banking [Member] | Trust and Securities Processing [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 15,999 | 16,849 | 32,305 | 32,873 |
Personal Banking [Member] | Service Charges On Deposit Accounts [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 2,777 | 2,864 | 5,589 | 5,729 |
Personal Banking [Member] | Insurance Fees and Commissions [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 340 | 513 | 641 | 1,159 |
Personal Banking [Member] | Brokerage Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 2,267 | 2,147 | 4,507 | 4,228 |
Personal Banking [Member] | Bankcard Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 5,584 | 5,902 | 10,897 | 11,340 |
Healthcare Services [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total noninterest income | 8,980 | 9,296 | 17,775 | 18,805 |
Healthcare Services [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Other | 186 | 93 | 335 | 169 |
Total noninterest income | 8,706 | 8,846 | 17,197 | 17,949 |
Healthcare Services [Member] | Service Charges On Deposit Accounts [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 4,478 | 4,260 | 8,516 | 8,065 |
Healthcare Services [Member] | Brokerage Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 3 | 3 | ||
Healthcare Services [Member] | Bankcard Fees [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ASC 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | $ 4,042 | $ 4,490 | $ 8,346 | $ 9,712 |
Notional Amount of Off-Balance
Notional Amount of Off-Balance Sheet Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
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 | $ 6,146,143 | $ 6,689,467 |
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 | 3,053,379 | 2,975,507 |
Commercial letters of credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 4,987 | 813 |
Standby letters of credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 330,478 | 316,054 |
Forward contracts [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 33,575 | 29,007 |
Spot foreign exchange contracts [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | $ 665 | $ 628 |
Summary of Fair Value of Deriva
Summary of Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | $ 2,970 | $ 10,149 |
Derivative Liabilities, Fair Value | 7,970 | 8,906 |
Derivatives not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | 2,855 | 10,116 |
Derivative Liabilities, Fair Value | 7,970 | 7,326 |
Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | $ 115 | 33 |
Derivative Liabilities, Fair Value | $ 1,580 |
Derivatives and Hedging Activ61
Derivatives and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($)Derivative | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($)Derivative | Jun. 30, 2017USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Termination value of derivatives in net liability position | $ 154,000 | $ 154,000 | ||
Collateral posted for derivative instruments | 1,000,000 | 1,000,000 | ||
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Effective portion of change in fair value of cash flow hedges | 910,000 | $ (1,157,000) | $ 3,112,000 | $ (911,000) |
Interest rate hedging exposure to variability in future cash flows for forecasted transactions, maximum period | 18 years 2 months 19 days | |||
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Gain (Loss) related to changes in fair value of swaps | 4,000 | 2,000 | $ 4,000 | 2,000 |
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Notional amount of interest rate swaps | $ 5,700,000 | $ 5,700,000 | ||
Number of interest rate swaps | Derivative | 1 | 1 | ||
Gain (Loss) related to changes in fair value of swaps | $ (49,000) | 88,000 | $ (130,000) | 134,000 |
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Notional amount of interest rate swaps | $ 51,500,000 | $ 51,500,000 | ||
Number of interest rate swaps | Derivative | 2 | 2 | ||
Effective portion of change in fair value of cash flow hedges | $ 910,000 | (1,157,000) | $ 3,112,000 | (911,000) |
Reclassification from AOCI to interest expenses | 7,000 | 7,000 | ||
Interest Rate Swap [Member] | Derivatives not Designated as Hedging Instruments [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Notional amount of interest rate swaps | $ 1,100,000,000 | $ 1,100,000,000 | ||
Number of interest rate swaps | Derivative | 96 | 96 | ||
Gain (Loss) related to changes in fair value of swaps | $ 137,000 | $ (168,000) | $ 473,000 | $ (516,000) |
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 Assets and Liabilities (Detail) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Derivatives not Designated as Hedging Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | $ 137 | $ (168) | $ 473 | $ (516) |
Derivatives Designated as Hedging Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | 4 | 2 | 4 | 2 |
Derivatives Designated as Hedging Instruments [Member] | Fair value adjustments on derivatives [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | 53 | (86) | 134 | (132) |
Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | $ (49) | $ 88 | $ (130) | $ 134 |
Summary of Amount of Gain (Lo63
Summary of Amount of Gain (Loss) Recognized in AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities (Detail) - Derivatives Designated as Hedging Instruments [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain Recognized in Other Comprehensive Income on Derivatives | $ 910 | $ (1,157) | $ 3,112 | $ (911) |
Interest Rate Swap [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain Recognized in Other Comprehensive Income on Derivatives | $ 910 | $ (1,157) | $ 3,112 | $ (911) |
Assets and Liabilities Measured
Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | $ 67,091 | $ 54,055 |
Available for sale | 6,011,684 | 6,258,577 |
Derivative Assets, Fair Value | 2,970 | 10,149 |
Derivative Liabilities, Fair Value | 7,970 | 8,906 |
Securities sold not yet purchased | 16,800 | 4,100 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 22,940 | 14,337 |
Available for sale | 39,558 | 51,909 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 44,151 | 39,718 |
Available for sale | 5,972,126 | 6,206,668 |
U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 38,090 | 38,643 |
U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 198 | 14,752 |
Mortgage-backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 3,672,956 | 3,649,243 |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 2,298,972 | 2,542,673 |
Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 1,468 | 13,266 |
Fair Value Measurement, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 67,091 | 54,055 |
Available for sale | 6,011,684 | 6,258,577 |
Company-owned life insurance | 56,770 | 53,577 |
Bank-owned life insurance | 269,703 | 265,823 |
Derivative Assets, Fair Value | 2,970 | 10,149 |
Total | 6,408,218 | 6,642,181 |
Deferred compensation | 53,084 | 50,963 |
Derivative Liabilities, Fair Value | 7,970 | 8,906 |
Securities sold not yet purchased | 16,834 | 4,130 |
Total | 77,888 | 63,999 |
Fair Value Measurement, Recurring [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 13,219 | 13,113 |
Fair Value Measurement, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 22,940 | 14,337 |
Available for sale | 39,558 | 51,909 |
Total | 62,498 | 66,246 |
Deferred compensation | 53,084 | 50,963 |
Total | 53,084 | 50,963 |
Fair Value Measurement, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 12,464 | 12,434 |
Fair Value Measurement, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 44,151 | 39,718 |
Available for sale | 5,972,126 | 6,206,668 |
Company-owned life insurance | 56,770 | 53,577 |
Bank-owned life insurance | 269,703 | 265,823 |
Derivative Assets, Fair Value | 2,970 | 10,149 |
Total | 6,345,720 | 6,575,935 |
Derivative Liabilities, Fair Value | 7,970 | 8,906 |
Securities sold not yet purchased | 16,834 | 4,130 |
Total | 24,804 | 13,036 |
Fair Value Measurement, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 755 | 679 |
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 338 | 18 |
Available for sale | 38,090 | 38,643 |
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 338 | 18 |
Available for sale | 38,090 | 38,643 |
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,088 | 9,976 |
Available for sale | 198 | 14,752 |
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,088 | 9,976 |
Available for sale | 198 | 14,752 |
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 1,949 | |
Available for sale | 3,672,956 | 3,649,243 |
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 1,949 | |
Available for sale | 3,672,956 | 3,649,243 |
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 41,308 | 27,114 |
Available for sale | 2,298,972 | 2,542,673 |
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 41,308 | 27,114 |
Available for sale | 2,298,972 | 2,542,673 |
Fair Value Measurement, Recurring [Member] | Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 10,138 | 1,885 |
Available for sale | 1,468 | 13,266 |
Fair Value Measurement, Recurring [Member] | Corporates [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 10,138 | 1,885 |
Available for sale | $ 1,468 | $ 13,266 |
Assets Measured at Fair Value o
Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Measurements, Non-Recurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 13,947 | $ 16,674 |
Total Gains (Losses) Recognized | 2,222 | 1,264 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 13,947 | 16,674 |
Impaired loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 10,264 | 15,186 |
Total Gains (Losses) Recognized | 2,222 | 1,251 |
Impaired loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 10,264 | 15,186 |
Other real estate owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 3,683 | 1,488 |
Total Gains (Losses) Recognized | 13 | |
Other real estate owned [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 3,683 | $ 1,488 |
Estimated Fair Value of Financi
Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | $ 563,654 | $ 1,936,084 |
Securities available for sale | 6,011,684 | 6,258,577 |
Securities held to maturity | 1,204,582 | 1,261,014 |
Trading securities | 67,091 | 54,055 |
Other securities | 66,547 | 65,897 |
Loans (exclusive of allowance for loan loss) | 11,635,110 | 11,281,973 |
Derivatives | 2,970 | 10,149 |
Demand and savings deposits | 15,466,124 | 16,742,736 |
Time deposits | 919,954 | 1,280,264 |
Other borrowings | 1,666,158 | 1,260,704 |
Long-term debt | 78,692 | 79,281 |
Derivatives | 7,970 | 8,906 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 563,654 | 1,936,084 |
Securities available for sale | 6,011,684 | 6,258,577 |
Securities held to maturity | 1,103,937 | 1,207,447 |
Trading securities | 67,091 | 54,055 |
Other securities | 66,547 | 65,897 |
Loans (exclusive of allowance for loan loss) | 11,660,240 | 11,318,764 |
Derivatives | 2,970 | 10,149 |
Demand and savings deposits | 15,466,124 | 16,742,736 |
Time deposits | 919,954 | 1,280,264 |
Other borrowings | 1,666,158 | 1,260,704 |
Long-term debt | 78,984 | 79,496 |
Derivatives | 7,970 | 8,906 |
Commitments to extend credit for loans | 2,691 | 6,654 |
Commercial letters of credit | 35 | 136 |
Standby letters of credit | 1,291 | 2,514 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 508,224 | 1,749,618 |
Securities available for sale | 39,558 | 51,909 |
Trading securities | 22,940 | 14,337 |
Demand and savings deposits | 15,466,124 | 16,742,736 |
Other borrowings | 378,684 | 11,334 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 55,430 | 186,466 |
Securities available for sale | 5,972,126 | 6,206,668 |
Securities held to maturity | 1,103,937 | 1,207,447 |
Trading securities | 44,151 | 39,718 |
Other securities | 66,547 | 65,897 |
Loans (exclusive of allowance for loan loss) | 11,660,240 | 11,318,764 |
Derivatives | 2,970 | 10,149 |
Time deposits | 919,954 | 1,280,264 |
Other borrowings | 1,287,474 | 1,249,370 |
Long-term debt | 78,984 | 79,496 |
Derivatives | $ 7,970 | $ 8,906 |
Divestitures - Additional Infor
Divestitures - Additional Information (Detail) $ in Millions | Nov. 17, 2017USD ($) |
Discontinued Operations And Disposal Groups [Abstract] | |
Sale of outstanding stock of subsidiary in cash | $ 172.5 |
Gain on the disposal of discontinued operations | $ 103.6 |
Schedule of Components of (Loss
Schedule of Components of (Loss) Income from Discontinued Operations, Net of Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Discontinued Operations And Disposal Groups [Abstract] | |||
Total noninterest income | $ 17,856 | $ 35,719 | |
Total noninterest expense | 20,455 | $ 917 | 35,411 |
(Loss) income from discontinued operations | (2,599) | (917) | 308 |
Income tax (benefit) expense | (649) | (170) | 53 |
(Loss) income from discontinued operations | $ (1,950) | $ (747) | $ 255 |
Schedule of Components of Net C
Schedule of Components of Net Cash Provided by Operating Activities of Discontinued Operations Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Discontinued Operations And Disposal Groups [Abstract] | |||
(Loss) income from discontinued operations | $ (1,950) | $ (747) | $ 255 |
Depreciation and amortization | 1,647 | ||
Net cash provided by operating activities of discontinued operations | $ (747) | $ 1,902 |