Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Trading Symbol | 'WTFC | ' | ' |
Entity Registrant Name | 'WINTRUST FINANCIAL CORP | ' | ' |
Entity Central Index Key | '0001015328 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 46,208,380 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Public Float | ' | ' | $1,419,767,800 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Statements_Of_Con
Consolidated Statements Of Condition (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Assets | ' | ' |
Cash and due from banks | $253,408,000 | $284,731,000 |
Federal funds sold and securities purchased under resale agreements | 10,456,000 | 30,297,000 |
Interest-bearing deposits with other banks | 495,574,000 | 1,035,743,000 |
Available-for-sale securities, at fair value | 2,176,290,000 | 1,796,076,000 |
Trading account securities | 497,000 | 583,000 |
Federal Home Loan Bank and Federal Reserve Bank stock | 79,261,000 | 79,564,000 |
Brokerage customer receivables | 30,953,000 | 24,864,000 |
Mortgage loans held-for-sale, at fair value | 332,485,000 | 385,033,000 |
Mortgage loans held-for-sale, at lower of cost or market | 1,842,000 | 27,167,000 |
Loans, net of unearned income, excluding covered loans | 12,896,602,000 | 11,828,943,000 |
Covered loans | 346,431,000 | 560,087,000 |
Total loans | 13,243,033,000 | 12,389,030,000 |
Less: Allowance for loan losses | 96,922,000 | 107,351,000 |
Less: Allowance for covered loan losses | 10,092,000 | 13,454,000 |
Net loans | 13,136,019,000 | 12,268,225,000 |
Premises and equipment, net | 531,947,000 | 501,205,000 |
FDIC indemnification asset | 85,672,000 | 208,160,000 |
Accrued interest receivable and other assets | 569,619,000 | 511,617,000 |
Goodwill | 374,547,000 | 345,401,000 |
Other intangible assets | 19,213,000 | 20,947,000 |
Total assets | 18,097,783,000 | 17,519,613,000 |
Deposits: | ' | ' |
Non-interest bearing | 2,721,771,000 | 2,396,264,000 |
Interest bearing | 11,947,018,000 | 12,032,280,000 |
Total deposits | 14,668,789,000 | 14,428,544,000 |
Notes payable | 364,000 | 2,093,000 |
Federal Home Loan Bank advances | 417,762,000 | 414,122,000 |
Other borrowings | 254,740,000 | 274,411,000 |
Secured borrowings - owed to securitization investors | 0 | 0 |
Subordinated notes | 0 | 15,000,000 |
Junior subordinated debentures | 249,493,000 | 249,493,000 |
Trade date securities payable | 303,088,000 | 0 |
Accrued interest payable and other liabilities | 302,958,000 | 331,245,000 |
Total liabilities | 16,197,194,000 | 15,714,908,000 |
Preferred stock, no par value; 20,000,000 shares authorized: | ' | ' |
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at December 31, 2013 and 2012; 46,181,588 shares and 37,107,684 shares issued at December 31, 2013 and 2012, respectively | 46,181,000 | 37,108,000 |
Surplus | 1,117,032,000 | 1,036,295,000 |
Treasury stock, at cost, 65,005 shares and 249,329 shares at December 31, 2013 and 2012, respectively | -3,000,000 | -7,838,000 |
Retained earnings | 676,935,000 | 555,023,000 |
Accumulated other comprehensive (loss) income | -63,036,000 | 7,711,000 |
Total shareholders' equity | 1,900,589,000 | 1,804,705,000 |
Total liabilities and shareholders' equity | $18,097,783,000 | $17,519,613,000 |
Consolidated_Statements_Of_Con1
Consolidated Statements Of Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Series A - $1,000 liquidation value; No shares issued and outstanding at December 31, 2013 and 50,000 shares issued and outstanding at December 31, 2012 | Series A - $1,000 liquidation value; No shares issued and outstanding at December 31, 2013 and 50,000 shares issued and outstanding at December 31, 2012 | Series C - $1,000 liquidation value; 126,477 and 126,500 shares issued and outstanding at December 31, 2013 and 2012, respectively | Series C - $1,000 liquidation value; 126,477 and 126,500 shares issued and outstanding at December 31, 2013 and 2012, respectively | |||
Preferred stock, par value | $0 | $0 | ' | ' | ' | ' |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | ' | ' | ' | ' |
Preferred stock, liquidation value | ' | ' | $1,000 | $1,000 | $1,000 | $1,000 |
Preferred stock, shares issued | 126,477 | 176,500 | 0 | 50,000 | 126,477 | 126,500 |
Preferred stock, shares outstanding | 126,477 | 176,500 | 0 | 50,000 | 126,477 | 126,500 |
Common stock, par value | $0 | $0 | ' | ' | ' | ' |
Common stock, stated value | $1 | $1 | ' | ' | ' | ' |
Common stock, shares authorized | 100,000,000 | 100,000,000 | ' | ' | ' | ' |
Common stock, shares issued | 46,181,588 | 37,107,684 | ' | ' | ' | ' |
Treasury stock, shares | 65,005 | 249,329 | ' | ' | ' | ' |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income | ' | ' | ' |
Interest and fees on loans | $588,435 | $583,872 | $552,938 |
Interest bearing deposits with banks | 1,644 | 1,552 | 3,419 |
Federal funds sold and securities purchased under resale agreements | 27 | 38 | 116 |
Securities | 37,025 | 38,134 | 46,219 |
Trading account securities | 25 | 28 | 44 |
Federal Home Loan Bank and Federal Reserve Bank stock | 2,773 | 2,550 | 2,297 |
Brokerage customer receivables | 780 | 847 | 760 |
Total interest income | 630,709 | 627,021 | 605,793 |
Interest expense | ' | ' | ' |
Interest on deposits | 53,191 | 68,305 | 87,938 |
Interest on Federal Home Loan Bank advances | 11,014 | 12,103 | 16,320 |
Interest on notes payable and other borrowings | 4,341 | 8,966 | 11,023 |
Interest on secured borrowings - owed to securitization investors | 0 | 5,087 | 12,113 |
Interest on subordinated notes | 167 | 428 | 750 |
Interest on junior subordinated debentures | 11,369 | 12,616 | 16,272 |
Total interest expense | 80,082 | 107,505 | 144,416 |
Net interest income | 550,627 | 519,516 | 461,377 |
Provision for credit losses | 46,033 | 76,436 | 102,638 |
Net interest income after provision for credit losses | 504,594 | 443,080 | 358,739 |
Non-interest income | ' | ' | ' |
Wealth management | 63,042 | 52,680 | 44,517 |
Mortgage banking | 106,857 | 109,970 | 56,942 |
Service charges on deposit accounts | 20,366 | 16,971 | 14,963 |
(Losses) gains on available-for-sale securities, net | -3,000 | 4,895 | 1,792 |
Fees from covered call options | 4,773 | 10,476 | 13,570 |
Gain on bargain purchases, net | 0 | 7,503 | 37,974 |
Trading gains (losses), net | 892 | -1,900 | 337 |
Other | 29,467 | 25,497 | 19,603 |
Total non-interest income | 222,397 | 226,092 | 189,698 |
Non-interest expense | ' | ' | ' |
Salaries and employee benefits | 308,794 | 288,589 | 237,785 |
Equipment | 26,450 | 23,222 | 18,267 |
Occupancy, net | 36,633 | 32,294 | 28,764 |
Data processing | 18,672 | 15,739 | 14,568 |
Advertising and marketing | 11,051 | 9,438 | 8,380 |
Professional fees | 14,922 | 15,262 | 16,874 |
Amortization of other intangible assets | 4,627 | 4,324 | 3,425 |
FDIC insurance | 12,728 | 13,422 | 14,143 |
OREO expenses, net | 5,834 | 22,103 | 26,340 |
Other | 62,840 | 64,647 | 51,858 |
Total non-interest expense | 502,551 | 489,040 | 420,404 |
Income before taxes | 224,440 | 180,132 | 128,033 |
Income tax expense | 87,230 | 68,936 | 50,458 |
Net income | 137,210 | 111,196 | 77,575 |
Preferred stock dividends and discount accretion | 8,395 | 9,093 | 4,128 |
Net income applicable to common shares | $128,815 | $102,103 | $73,447 |
Net income per common share - Basic (in usd per share) | $3.33 | $2.81 | $2.08 |
Net income per common share - Diluted (in usd per share) | $2.75 | $2.31 | $1.67 |
Cash dividends declared per common share (in usd per share) | $0.18 | $0.18 | $0.18 |
Weighted average common shares outstanding (in shares) | 38,699 | 36,365 | 35,355 |
Dilutive potential common shares (in shares) | 11,249 | 11,669 | 8,636 |
Average common shares and dilutive common shares (in shares) | 49,948 | 48,034 | 43,991 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $137,210 | $111,196 | $77,575 |
Unrealized (losses) gains on securities | ' | ' | ' |
Before tax | -102,790 | 8,793 | 4,467 |
Tax effect | 40,608 | -3,332 | -1,862 |
Net of tax | -62,182 | 5,461 | 2,605 |
Less: Reclassification of net (losses) gains included in net income | ' | ' | ' |
Before tax | -3,000 | 4,895 | 1,792 |
Tax effect | 1,193 | -1,940 | -712 |
Net of tax | -1,807 | 2,955 | 1,080 |
Net unrealized (losses) gains on securities | -60,375 | 2,506 | 1,525 |
Unrealized gains on derivative instruments | ' | ' | ' |
Before tax | 4,702 | 2,960 | 1,690 |
Tax effect | -1,872 | -1,170 | -581 |
Net unrealized gains on derivative instruments | 2,830 | 1,790 | 1,109 |
Foreign currency translation adjustment | ' | ' | ' |
Before tax | -17,564 | 8,249 | 0 |
Tax effect | 4,362 | -1,956 | 0 |
Net foreign currency translation adjustment | -13,202 | 6,293 | 0 |
Total other comprehensive (loss) income | -70,747 | 10,589 | 2,634 |
Comprehensive income | $66,463 | $121,785 | $80,209 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Shareholders' Equity (USD $) | Total | Preferred stock | Common stock | Surplus | Treasury stock | Retained earnings | Accumulated other comprehensive income (loss) | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] |
Preferred stock | Common stock | Surplus | Treasury stock | Retained earnings | Accumulated other comprehensive income (loss) | Preferred stock | Common stock | Surplus | Treasury stock | Retained earnings | Accumulated other comprehensive income (loss) | ||||||||||
Balance at Dec. 31, 2010 | $1,436,549,000 | $49,640,000 | $34,864,000 | $965,203,000 | $0 | $392,354,000 | ($5,512,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 77,575,000 | 0 | 0 | 0 | 0 | 77,575,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax | 2,634,000 | 0 | 0 | 0 | 0 | 0 | 2,634,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends declared on common stock | -6,344,000 | 0 | 0 | 0 | 0 | -6,344,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends on preferred stock | -4,000,000 | 0 | 0 | 0 | 0 | -4,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion on preferred stock | 0 | 128,000 | 0 | 0 | 0 | -128,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock repurchases | 112,000 | 0 | 0 | 0 | 112,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 5,692,000 | 0 | 0 | 5,692,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions | 26,486,000 | 0 | 883,000 | 25,603,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options and warrants | 1,590,000 | 0 | 86,000 | 1,504,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock awards | -75,000 | 0 | 57,000 | -132,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee stock purchase plan | 2,099,000 | 0 | 67,000 | 2,032,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Director compensation plan | 1,439,000 | 0 | 25,000 | 1,414,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | 1,543,533,000 | 49,768,000 | 35,982,000 | 1,001,316,000 | -112,000 | 459,457,000 | -2,878,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 111,196,000 | 0 | 0 | 0 | 0 | 111,196,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax | 10,589,000 | 0 | 0 | 0 | 0 | 0 | 10,589,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends declared on common stock | -6,537,000 | 0 | 0 | 0 | 0 | -6,537,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends on preferred stock | -8,955,000 | 0 | 0 | 0 | 0 | -8,955,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion on preferred stock | 0 | 138,000 | 0 | 0 | 0 | -138,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | -9,072,000 | 0 | 0 | -9,072,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Series C preferred stock | ' | 126,500,000 | 0 | -3,810,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | 122,690,000 | ' | ' | ' | ' | ' | ' |
Common stock issued for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions | 14,560,000 | 0 | 398,000 | 14,162,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options and warrants | 5,690,000 | 0 | 503,000 | 11,904,000 | -6,717,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock awards | -994,000 | 0 | 132,000 | -117,000 | -1,009,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee stock purchase plan | 2,325,000 | 0 | 71,000 | 2,254,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Director compensation plan | 1,536,000 | 0 | 22,000 | 1,514,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 1,804,705,000 | 176,406,000 | 37,108,000 | 1,036,295,000 | -7,838,000 | 555,023,000 | 7,711,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 137,210,000 | 0 | 0 | 0 | 0 | 137,210,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax | -70,747,000 | 0 | 0 | 0 | 0 | 0 | -70,747,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends declared on common stock | -6,903,000 | 0 | 0 | 0 | 0 | -6,903,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends on preferred stock | -8,325,000 | 0 | 0 | 0 | 0 | -8,325,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion on preferred stock | 0 | 70,000 | 0 | 0 | 0 | -70,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 6,799,000 | 0 | 0 | 6,799,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Series _ preferred stock to common stock | ' | ' | ' | ' | ' | ' | ' | 0 | -49,976,000 | 1,944,000 | 48,032,000 | 0 | 0 | 0 | 0 | -23,000 | 1,000 | 22,000 | 0 | 0 | 0 |
Settlement of prepaid common stock purchase contracts | ' | 0 | 5,870,000 | -14,212,000 | 8,342,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' |
Common stock issued for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions | 23,070,000 | 0 | 648,000 | 22,422,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options and warrants | 10,770,000 | 0 | 372,000 | 13,613,000 | -3,215,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock awards | 38,000 | 0 | 145,000 | 182,000 | -289,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee stock purchase plan | 2,459,000 | 0 | 62,000 | 2,397,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Director compensation plan | 1,513,000 | 0 | 31,000 | 1,482,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $1,900,589,000 | $126,477,000 | $46,181,000 | $1,117,032,000 | ($3,000,000) | $676,935,000 | ($63,036,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Operating Activities: | ' | ' | ' |
Net income | $137,210,000 | $111,196,000 | $77,575,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Provision for credit losses | 46,033,000 | 76,436,000 | 102,638,000 |
Depreciation and amortization | 26,180,000 | 24,676,000 | 19,469,000 |
Deferred income tax expense (benefit) | 1,539,000 | -23,315,000 | -639,000 |
Stock-based compensation expense | 6,799,000 | 9,072,000 | 5,692,000 |
Tax (expense) benefit from stock-based compensation arrangements | -831,000 | 1,392,000 | 129,000 |
Excess tax benefits from stock-based compensation arrangements | -474,000 | -841,000 | -306,000 |
Net amortization (accretion) of premium on securities | -2,934,000 | 1,034,000 | -4,434,000 |
Mortgage servicing rights fair value change, net | -1,739,000 | 4,101,000 | 4,673,000 |
Originations and purchases of mortgage loans held-for-sale | -3,708,364,000 | -3,866,012,000 | -2,545,385,000 |
Proceeds from sales of mortgage loans held-for-sale | 3,862,030,000 | 3,865,863,000 | 2,638,162,000 |
Bank owned life insurance income, net of claims | -3,446,000 | -2,920,000 | -2,569,000 |
Decrease in trading securities, net | 86,000 | 1,907,000 | 2,389,000 |
Net (increase) decrease in brokerage customer receivables | 6,089,000 | -3,061,000 | 3,376,000 |
Gain on mortgage loans sold | -75,793,000 | -91,527,000 | -41,854,000 |
Losses (gains) on available-for-sale securities, net | -3,000,000 | 4,895,000 | 1,792,000 |
Gain on bargain purchases, net | 0 | -7,503,000 | -37,974,000 |
Loss on sales of premises and equipment, net | 23,000 | 333,000 | 29,000 |
Net loss on sales and fair value adjustments of other real estate owned | 136,000 | 15,316,000 | 20,110,000 |
Decrease in accrued interest receivable and other assets, net | 54,300,000 | 15,605,000 | 12,582,000 |
(Decrease) increase in accrued interest payable and other liabilities, net | -21,749,000 | 137,743,000 | -9,720,000 |
Net Cash Provided by Operating Activities | 321,785,000 | 268,654,000 | 244,267,000 |
Investing Activities: | ' | ' | ' |
Proceeds from maturities of available-for-sale securities | 295,807,000 | 588,281,000 | 1,483,986,000 |
Proceeds from sales of available-for-sale securities | 138,274,000 | 2,399,035,000 | 1,265,046,000 |
Purchases of available-for-sale securities | -489,131,000 | -2,570,373,000 | -3,087,864,000 |
Net cash (paid) received for acquisitions | 14,491,000 | -64,351,000 | -91,571,000 |
Divestiture of operations | -149,100,000 | 0 | 0 |
Proceeds from sales of other real estate owned | 100,162,000 | 88,633,000 | 59,076,000 |
Proceeds received from the FDIC related to reimbursement on covered assets | 53,443,000 | 169,689,000 | 92,595,000 |
Net decrease (increase) in interest-bearing deposits with banks | 643,626,000 | -212,564,000 | 140,684,000 |
Net increase in loans | -781,693,000 | -948,601,000 | -802,926,000 |
Purchases of premises and equipment, net | -37,694,000 | -74,326,000 | -79,132,000 |
Net Cash Used for Investing Activities | -240,797,000 | -495,875,000 | -836,964,000 |
Financing Activities: | ' | ' | ' |
(Decrease) increase in deposit accounts | -78,946,000 | 1,251,792,000 | 385,335,000 |
(Decrease) increase in other borrowings, net | -22,396,000 | -306,786,000 | 226,050,000 |
Decrease in Federal Home Loan Bank advances, net | -18,000,000 | -70,000,000 | 0 |
Repayment of subordinated notes | 15,000,000 | 20,000,000 | 15,000,000 |
Payoff of secured borrowing | 0 | -600,000,000 | 0 |
Excess tax benefits from stock-based compensation arrangements | 474,000 | 841,000 | 306,000 |
Net proceeds from issuance of Series C preferred stock | 0 | 122,690,000 | 0 |
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants | 19,113,000 | 14,891,000 | 3,586,000 |
Common stock repurchases | -3,504,000 | -7,726,000 | -112,000 |
Dividends paid | -13,893,000 | -13,157,000 | -10,344,000 |
Net Cash (Used for) Provided by Financing Activities | -132,152,000 | 372,545,000 | 589,821,000 |
Net (Decrease) Increase in Cash and Cash Equivalents | -51,164,000 | 145,324,000 | -2,876,000 |
Cash and Cash Equivalents at Beginning of Period | 315,028,000 | 169,704,000 | 172,580,000 |
Cash and Cash Equivalents at End of Period | 263,864,000 | 315,028,000 | 169,704,000 |
Cash paid during the year for: | ' | ' | ' |
Interest | 83,395,000 | 109,173,000 | 146,982,000 |
Income taxes, net | 97,703,000 | 82,067,000 | 57,474,000 |
Acquisitions: | ' | ' | ' |
Fair value of assets acquired, including cash and cash equivalents | 559,694,000 | 1,158,925,000 | 1,257,085,000 |
Value ascribed to goodwill and other intangible assets | 35,056,000 | 42,588,000 | 37,198,000 |
Fair value of liabilities assumed | 511,603,000 | 1,160,084,000 | 1,220,189,000 |
Non-cash activities | ' | ' | ' |
Transfer to other real estate owned from loans | 81,526,000 | 30,651,000 | 59,669,000 |
Common stock issued for acquisitions | $23,070,000 | $14,560,000 | $27,091,000 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
The accounting and reporting policies of Wintrust and its subsidiaries conform to generally accepted accounting principles in the United States and prevailing practices of the banking industry. In the preparation of the consolidated financial statements, management is required to make certain estimates and assumptions that affect the reported amounts contained in the consolidated financial statements. Management believes that the estimates made are reasonable; however, changes in estimates may be required if economic or other conditions change beyond management’s expectations. Reclassifications of certain prior year amounts have been made to conform to the current year presentation. The following is a summary of the Company’s more significant accounting policies. | |
Principles of Consolidation | |
The consolidated financial statements of Wintrust include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. | |
Earnings per Share | |
Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The weighted-average number of common shares outstanding is increased by the assumed conversion of outstanding convertible preferred stock and tangible equity unit shares from the beginning of the year or date of issuance, if later, and the number of common shares that would be issued assuming the exercise of stock options, the issuance of restricted shares and stock warrants using the treasury stock method. The adjustments to the weighted-average common shares outstanding are only made when such adjustments will dilute earnings per common share. Net income applicable to common shares used in the diluted earnings per share calculation can be affected by the conversion of the Company's preferred stock. Where the effect of this conversion would reduce the loss per share or increase the income per share, net income applicable to common shares is not adjusted by the associated preferred dividends. | |
Business Combinations | |
The Company accounts for business combinations under the acquisition method of accounting in accordance with ASC 805, “Business Combinations” (“ASC 805”). The Company recognizes the full fair value of the assets acquired and liabilities assumed, immediately expenses transaction costs and accounts for restructuring plans separately from the business combination. There is no separate recognition of the acquired allowance for loan losses on the acquirer’s balance sheet as credit related factors are incorporated directly into the fair value of the loans recorded at the acquisition date. The excess of the cost of the acquisition over the fair value of the net tangible and intangible assets acquired is recorded as goodwill. Alternatively, a gain is recorded equal to the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid. | |
Results of operations of the acquired business are included in the income statement from the effective date of acquisition. | |
Cash Equivalents | |
For purposes of the consolidated statements of cash flows, Wintrust considers cash on hand, cash items in the process of collection, non-interest bearing amounts due from correspondent banks, federal funds sold and securities purchased under resale agreements with original maturities of three months or less, to be cash equivalents. | |
Securities | |
The Company classifies securities upon purchase in one of three categories: trading, held-to-maturity, or available-for-sale. Debt and equity securities held for resale are classified as trading securities. Debt securities for which the Company has the ability and positive intent to hold until maturity are classified as held-to-maturity. All other securities are classified as available-for-sale as they may be sold prior to maturity in response to changes in the Company’s interest rate risk profile, funding needs, demand for collateralized deposits by public entities or other reasons. | |
Held-to-maturity securities are stated at amortized cost, which represents actual cost adjusted for premium amortization and discount accretion using methods that approximate the effective interest method. Available-for-sale securities are stated at fair value, with unrealized gains and losses, net of related taxes, included in shareholders’ equity as a separate component of other comprehensive income. | |
Trading account securities are stated at fair value. Realized and unrealized gains and losses from sales and fair value adjustments are included in other non-interest income. | |
Declines in the fair value of investment securities available for sale (with certain exceptions for debt securities noted below) that are deemed to be other-than-temporary are charged to earnings as a realized loss, and a new cost basis for the securities is established. In evaluating other-than-temporary impairment, management considers the length of time and extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of debt securities below amortized cost are deemed to be other-than-temporary in circumstances where: (1) the Corporation has the intent to sell a security; (2) it is more likely than not that the Corporation will be required to sell the security before recovery of its amortized cost basis; or (3) the Corporation does not expect to recover the entire amortized cost basis of the security. If the Corporation intends to sell a security or if it is more likely than not that the Corporation will be required to sell the security before recovery, an other-than-temporary impairment write-down is recognized in earnings equal to the difference between the security’s amortized cost basis and its fair value. If an entity does not intend to sell the security or it is not more likely than not that it will be required to sell the security before recovery, the other-than-temporary impairment write-down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to all other factors, which is recognized in other comprehensive income. | |
Interest and dividends, including amortization of premiums and accretion of discounts, are recognized as interest income when earned. Realized gains and losses on sales (using the specific identification method) and declines in value judged to be other-than-temporary are included in non-interest income. | |
Federal Home Loan Bank and Federal Reserve Bank Stock | |
Investments in Federal Home Loan Bank and Federal Reserve Bank stock are restricted as to redemption and are carried at cost. | |
Securities Purchased Under Resale Agreements and Securities Sold Under Repurchase Agreements | |
Securities purchased under resale agreements and securities sold under repurchase agreements are generally treated as collateralized financing transactions and are recorded at the amount at which the securities were acquired or sold plus accrued interest. Securities, generally U.S. government and Federal agency securities, pledged as collateral under these financing arrangements cannot be sold by the secured party. The fair value of collateral either received from or provided to a third party is monitored and additional collateral is obtained or requested to be returned as deemed appropriate. | |
Brokerage Customer Receivables | |
The Company, under an agreement with an out-sourced securities clearing firm, extends credit to its brokerage customers to finance their purchases of securities on margin. The Company receives income from interest charged on such extensions of credit. Brokerage customer receivables represent amounts due on margin balances. Securities owned by customers are held as collateral for these receivables. | |
Mortgage Loans Held-for-Sale | |
Mortgage loans are classified as held-for-sale when originated or acquired with the intent to sell the loan into the secondary market. Market conditions or other developments may change management’s intent with respect to the disposition of these loans and loans previously classified as mortgage loans held-for-sale may be reclassified to the loan portfolio. | |
ASC 825, “Financial Instruments” provides entities with an option to report selected financial assets and liabilities at fair value. Mortgage loans originated by Wintrust Mortgage are measured at fair value which is determined by reference to investor prices for loan products with similar characteristics. Changes in fair value are recognized in mortgage banking revenue. | |
Loans, Allowance for Loan Losses, Allowance for Covered Loan Losses and Allowance for Losses on Lending-Related Commitments | |
Loans are generally reported at the principal amount outstanding, net of unearned income. Interest income is recognized when earned. Loan origination fees and certain direct origination costs are deferred and amortized over the expected life of the loan as an adjustment to the yield using methods that approximate the effective interest method. Finance charges on premium finance receivables are earned over the term of the loan, using a method which approximates the effective yield method. | |
Interest income is not accrued on loans where management has determined that the borrowers may be unable to meet contractual principal and/or interest obligations, or where interest or principal is 90 days or more past due, unless the loans are adequately secured and in the process of collection. Cash receipts on non-accrual loans are generally applied to the principal balance until the remaining balance is considered collectible, at which time interest income may be recognized when received. | |
The Company maintains its allowance for loan losses at a level believed appropriate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of internal problem loan reporting system loans and actual loss experience, changes in the composition of the loan portfolio, historical loss experience, changes in lending policies and procedures, including underwriting standards and collections, charge-off and recovery practices, changes in experience, ability and depth of lending management and staff, changes in national and local economic and business conditions and developments, including the condition of various market segments and changes in the volume and severity of past due and classified loans and trends in the volume of non-accrual loans, troubled debt restructurings and other loan modifications. The allowance for loan losses also includes an element for estimated probable but undetected losses and for imprecision in the credit risk models used to calculate the allowance. Loans with a credit risk rating of a 6 through 9 are reviewed on a monthly basis to determine if (a) an amount is deemed uncollectible (a charge-off) or (b) it is probable that the Company will be unable to collect amounts due in accordance with the original contractual terms of the loan (an impaired loan). If a loan is impaired, the carrying amount of the loan is compared to the expected payments to be received, discounted at the loan’s original rate, or for collateral dependent loans, to the fair value of the collateral less the estimated cost to sell. Any shortfall is recorded as a specific reserve. For loans with a credit risk rating of 7 or better, reserves are established based on the type of loan collateral, if any, and the assigned credit risk rating. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on the average historical loss experience over a three year period, and consideration of current environmental factors and economic trends, all of which may be susceptible to significant change. Loan losses are charged off against the allowance, while recoveries are credited to the allowance. A provision for credit losses is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least quarterly and more frequently if deemed necessary. | |
Under accounting guidance applicable to loans acquired with evidence of credit quality deterioration since origination, the excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized in interest income over the remaining estimated life of the loans, using the effective-interest method. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. Changes in the expected cash flows from the date of acquisition will either impact the accretable yield or result in a charge to the provision for credit losses. Subsequent decreases to expected principal cash flows will result in a charge to provision for credit losses and a corresponding increase to allowance for loan losses. Subsequent increases in expected principal cash flows will result in recovery of any previously recorded allowance for loan losses, to the extent applicable, and a reclassification from nonaccretable difference to accretable yield for any remaining increase. All changes in expected interest cash flows, including the impact of prepayments, will result in reclassifications to/from nonaccretable differences. | |
In estimating expected losses, the Company evaluates loans for impairment in accordance ASC 310, “Receivables.” A loan is considered impaired when, based on current information and events, it is probable that a creditor will be unable to collect all amounts due pursuant to the contractual terms of the loan. Impaired loans include non-accrual loans, restructured loans or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest. Impairment is measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the fair value of the underlying collateral less costs to sell. If the estimated fair value of the loan is less than the recorded book value, a valuation allowance is established as a component of the allowance for loan losses. For restructured loans in which impairment is calculated by the present value of future cash flows, the Company records interest income representing the decrease in impairment resulting from the passage of time during the respective period, which differs from interest income from contractually required interest on these specific loans. | |
The Company also maintains an allowance for lending-related commitments, specifically unfunded loan commitments and letters of credit, to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for loan losses. This allowance is included in other liabilities on the statement of condition while the corresponding provision for these losses is recorded as a component of the provision for credit losses. | |
Mortgage Servicing Rights | |
Mortgage Servicing Rights (“MSRs”) are recorded in the Consolidated Statements of Condition at fair value in accordance with ASC 860, “Transfers and Servicing.” The Company originates mortgage loans for sale to the secondary market, the majority of which are sold without retaining servicing rights. There are certain loans, however, that are originated and sold with servicing rights retained. MSRs associated with loans originated and sold, where servicing is retained, are capitalized at the time of sale at fair value based on the future net cash flows expected to be realized for performing the servicing activities, and included in other assets in the Consolidated Statements of Condition. The change in the fair value of MSRs is recorded as a component of mortgage banking revenue in non-interest income in the Consolidated Statements of Income. For purposes of measuring fair value, a third party valuation is obtained. This valuation stratifies the servicing rights into pools based on homogenous characteristics, such as product type and interest rate. The fair value of each servicing rights pool is calculated based on the present value of estimated future cash flows using a discount rate commensurate with the risk associated with that pool, given current market conditions. Estimates of fair value include assumptions about prepayment speeds, interest rates and other factors which are subject to change over time. Changes in these underlying assumptions could cause the fair value of MSRs to change significantly in the future. | |
Premises and Equipment | |
Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. Useful lives range from two to ten years for furniture, fixtures and equipment, two to five years for software and computer-related equipment and seven to 39 years for buildings and improvements. Land improvements are amortized over a period of 15 years and leasehold improvements are amortized over the shorter of the useful life of the improvement or the term of the respective lease. Land and antique furnishings and artwork are not subject to depreciation. Expenditures for major additions and improvements are capitalized, and maintenance and repairs are charged to expense as incurred. Internal costs related to the configuration and installation of new software and the modification of existing software that provides additional functionality are capitalized. | |
Long-lived depreciable assets are evaluated periodically for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of a long-lived asset are less than its carrying value. In that event, a loss is recognized for the difference between the carrying value and the estimated fair value of the asset based on a quoted market price, if applicable, or a discounted cash flow analysis. Impairment losses are recognized in other non-interest expense. | |
FDIC Indemnification Asset | |
In conjunction with FDIC-assisted transactions, the Company entered into loss share agreements with the FDIC. These agreements cover realized losses on loans, foreclosed real estate and certain other assets. These loss share assets are measured separately from the loan portfolios because they are not contractually embedded in the loans and are not transferable with the loans should the Company choose to dispose of them. Fair values at the acquisition dates were estimated based on projected cash flows available for loss-share based on the credit adjustments estimated for each loan pool and the loss share percentages. The loss share assets are also separately measured from the related loans and foreclosed real estate and recorded as FDIC indemnification assets on the Consolidated Statements of Condition. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses will reduce the loss share assets. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will also reduce the loss share assets. Additional expected losses, to the extent such expected losses result in the recognition of an allowance for loan losses, will increase the loss share assets. The corresponding accretion is recorded as a component of non-interest income on the Consolidated Statements of Income. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. | |
Other Real Estate Owned | |
Other real estate owned is comprised of real estate acquired in partial or full satisfaction of loans and is included in other assets. Other real estate owned is recorded at its estimated fair value less estimated selling costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the allowance for loan losses. Subsequent changes in value are reported as adjustments to the carrying amount and are recorded in other non-interest expense. Gains and losses upon sale, if any, are also charged to other non-interest expense. | |
Goodwill and Other Intangible Assets | |
Goodwill represents the excess of the cost of an acquisition over the fair value of net assets acquired. Other intangible assets represent purchased assets that also lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. In accordance with accounting standards, goodwill is not amortized, but rather is tested for impairment on an annual basis or more frequently when events warrant, using a qualitative or quantitative approach. Intangible assets which have finite lives are amortized over their estimated useful lives and also are subject to impairment testing. All of the Company’s other intangible assets have finite lives and are amortized over varying periods not exceeding twenty years. | |
Bank-Owned Life Insurance | |
The Company owns BOLI on certain executives. BOLI balances are recorded at their cash surrender values and are included in other assets. Changes in the cash surrender values are included in non-interest income. At December 31, 2013 and 2012, BOLI totaled $118.5 million and $104.6 million, respectively. | |
Derivative Instruments | |
The Company enters into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the future cash flows or the value of certain assets and liabilities. The Company is also required to recognize certain contracts and commitments, including certain commitments to fund mortgage loans held-for-sale, as derivatives when the characteristics of those contracts and commitments meet the definition of a derivative. The Company accounts for derivatives in accordance with ASC 815, “Derivatives and Hedging”, which requires that all derivative instruments be recorded in the statement of condition at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship. | |
Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset or liability attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Formal documentation of the relationship between a derivative instrument and a hedged asset or liability, as well as the risk-management objective and strategy for undertaking each hedge transaction and an assessment of effectiveness is required at inception to apply hedge accounting. In addition, formal documentation of ongoing effectiveness testing is required to maintain hedge accounting. | |
Fair value hedges are accounted for by recording the changes in the fair value of the derivative instrument and the changes in the fair value related to the risk being hedged of the hedged asset or liability on the statement of condition with corresponding offsets recorded in the income statement. The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the interest income or expense recorded on the hedged asset or liability. | |
Cash flow hedges are accounted for by recording the changes in the fair value of the derivative instrument on the statement of condition as either a freestanding asset or liability, with a corresponding offset recorded in other comprehensive income within shareholders’ equity, net of deferred taxes. Amounts are reclassified from accumulated other comprehensive income to interest expense in the period or periods the hedged forecasted transaction affects earnings. | |
Under both the fair value and cash flow hedge scenarios, changes in the fair value of derivatives not considered to be highly effective in hedging the change in fair value or the expected cash flows of the hedged item are recognized in earnings as non-interest income during the period of the change. | |
Derivative instruments that are not designated as hedges according to accounting guidance are reported on the statement of condition at fair value and the changes in fair value are recognized in earnings as non-interest income during the period of the change. | |
Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as derivatives and are not designated in hedging relationships. Fair values of these mortgage derivatives are estimated based on changes in mortgage rates from the date of the commitments. Changes in the fair values of these derivatives are included in mortgage banking revenue. | |
Forward currency contracts used to manage foreign exchange risk associated with certain foreign currency denominated assets are accounted for as derivatives and are not designated in hedging relationships. Foreign currency derivatives are recorded at fair value based on prevailing currency exchange rates at the measurement date. Changes in the fair values of these derivatives resulting from fluctuations in currency rates are recognized in earnings as non-interest income during the period of change. | |
Periodically, the Company sells options to an unrelated bank or dealer for the right to purchase certain securities held within the banks’ investment portfolios (“covered call options”). These option transactions are designed primarily as an economic hedge to increase the total return associated with holding these securities as earning assets. These transactions are not designated in hedging relationships pursuant to accounting guidance and, accordingly, changes in fair values of these contracts, are reported in other non-interest income. | |
Trust Assets, Assets Under Management and Brokerage Assets | |
Assets held in fiduciary or agency capacity for customers are not included in the consolidated financial statements as they are not assets of Wintrust or its subsidiaries. Fee income is recognized on an accrual basis and is included as a component of non-interest income. | |
Income Taxes | |
Wintrust and its subsidiaries file a consolidated Federal income tax return. Income tax expense is based upon income in the consolidated financial statements rather than amounts reported on the income tax return. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using currently enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as an income tax benefit or income tax expense in the period that includes the enactment date. | |
Positions taken in the Company’s tax returns may be subject to challenge by the taxing authorities upon examination. In accordance with applicable accounting guidance, uncertain tax positions are initially recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Interest and penalties on income tax uncertainties are classified within income tax expense in the income statement. | |
Stock-Based Compensation Plans | |
In accordance with ASC 718, “Compensation — Stock Compensation”, compensation cost is measured as the fair value of the awards on their date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options and the market price of the Company’s stock at the date of grant is used to estimate the fair value of restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. | |
Accounting guidance requires the recognition of stock based compensation for the number of awards that are ultimately expected to vest. As a result, recognized compensation expense for stock options and restricted share awards is reduced for estimated forfeitures prior to vesting. Forfeitures rates are estimated for each type of award based on historical forfeiture experience. Estimated forfeitures will be reassessed in subsequent periods and may change based on new facts and circumstances. | |
The Company issues new shares to satisfy option exercises and vesting of restricted shares. | |
Comprehensive Income | |
Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available-for-sale, net of deferred taxes, adjustments related to cash flow hedges, net of deferred taxes and foreign currency translation adjustments, net of taxes. | |
Stock Repurchases | |
The Company periodically repurchases shares of its outstanding common stock through open market purchases or other methods. Repurchased shares are recorded as treasury shares on the trade date using the treasury stock method, and the cash paid is recorded as treasury stock. | |
Foreign Currency Translation | |
The Company revalues assets, liabilities, revenue and expense denominated in non-U.S. currencies into U.S. dollars at the end of each month using applicable exchange rates. | |
Gains and losses relating to translating functional currency financial statements for U.S. reporting are included in other comprehensive income. Gains and losses relating to nonfunctional currency transactions are reported in the Consolidated Statements of Income. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
Repossession of Residential Real Estate Collateral | |
In January 2014, the FASB issued ASU No. 2014-04, “Receivables - Troubled Debt Restructurings by Creditors (Topic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” to address diversity in practice and clarify guidance regarding the accounting for an in-substance repossession or foreclosure of residential real estate collateral. This ASU clarifies that an in-substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or the borrower conveying all interest in the residential real estate property to the creditor. Additionally, this ASU requires disclosure of both the amount of foreclosed residential real estate property held by the Company and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. This guidance is effective for fiscal years beginning after December 15, 2014. Other than requiring additional disclosures, the Company does not expect adoption of this guidance to have a material impact on the Company’s consolidated financial statements. |
AvailableForSale_Securities
Available-For-Sale Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Available-for-Sale Securities | ' | ||||||||||||||||||||||||||||||||
Available-for-Sale Securities | |||||||||||||||||||||||||||||||||
A summary of the available-for-sale securities portfolio presenting carrying amounts and gross unrealized gains and losses as of December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||
December 31, 2013 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||
Cost | unrealized | unrealized | Cost | unrealized | unrealized | ||||||||||||||||||||||||||||
gains | losses | gains | losses | ||||||||||||||||||||||||||||||
U.S. Treasury | $ | 354,262 | $ | 141 | $ | (18,308 | ) | $ | 336,095 | $ | 220,226 | $ | 198 | $ | (937 | ) | $ | 219,487 | |||||||||||||||
U.S. Government agencies | 950,086 | 1,680 | (56,078 | ) | 895,688 | 986,186 | 4,839 | (986 | ) | 990,039 | |||||||||||||||||||||||
Municipal | 154,463 | 2,551 | (4,298 | ) | 152,716 | 107,868 | 2,899 | (296 | ) | 110,471 | |||||||||||||||||||||||
Corporate notes: | |||||||||||||||||||||||||||||||||
Financial issuers | 129,362 | 1,993 | (2,411 | ) | 128,944 | 142,205 | 2,452 | (3,982 | ) | 140,675 | |||||||||||||||||||||||
Other | 5,994 | 105 | (5 | ) | 6,094 | 13,911 | 220 | — | 14,131 | ||||||||||||||||||||||||
Mortgage-backed: (1) | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | 562,708 | 3,537 | (18,047 | ) | 548,198 | 188,485 | 8,805 | (30 | ) | 197,260 | |||||||||||||||||||||||
Collateralized mortgage obligations | 57,711 | 258 | (942 | ) | 57,027 | 73,386 | 928 | — | 74,314 | ||||||||||||||||||||||||
Other equity securities | 50,532 | 1,493 | (497 | ) | 51,528 | 52,846 | 215 | (3,362 | ) | 49,699 | |||||||||||||||||||||||
Total available-for-sale securities | $ | 2,265,118 | $ | 11,758 | $ | (100,586 | ) | $ | 2,176,290 | $ | 1,785,113 | $ | 20,556 | $ | (9,593 | ) | $ | 1,796,076 | |||||||||||||||
-1 | Consisting entirely of residential mortgage-backed securities, none of which are subprime. | ||||||||||||||||||||||||||||||||
The following table presents the portion of the Company’s available-for-sale securities portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013: | |||||||||||||||||||||||||||||||||
Continuous unrealized | Continuous unrealized | Total | |||||||||||||||||||||||||||||||
losses existing for less | losses existing for | ||||||||||||||||||||||||||||||||
than 12 months | greater than 12 months | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value | Unrealized | Fair value | Unrealized | Fair value | Unrealized | |||||||||||||||||||||||||||
losses | losses | losses | |||||||||||||||||||||||||||||||
U.S. Treasury | $ | 75,695 | $ | (62 | ) | $ | 181,922 | $ | (18,246 | ) | $ | 257,617 | $ | (18,308 | ) | ||||||||||||||||||
U.S. Government agencies | 399,982 | (47,860 | ) | 53,431 | (8,218 | ) | 453,413 | (56,078 | ) | ||||||||||||||||||||||||
Municipal | 66,368 | (3,757 | ) | 10,529 | (541 | ) | 76,897 | (4,298 | ) | ||||||||||||||||||||||||
Corporate notes: | |||||||||||||||||||||||||||||||||
Financial issuers | 21,296 | (49 | ) | 66,834 | (2,362 | ) | 88,130 | (2,411 | ) | ||||||||||||||||||||||||
Other | 995 | (5 | ) | — | — | 995 | (5 | ) | |||||||||||||||||||||||||
Mortgage-backed: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | 270,522 | (18,008 | ) | 2,922 | (39 | ) | 273,444 | (18,047 | ) | ||||||||||||||||||||||||
Collateralized mortgage obligations | 40,449 | (942 | ) | — | — | 40,449 | (942 | ) | |||||||||||||||||||||||||
Other equity securities | 8,272 | (205 | ) | 5,709 | (292 | ) | 13,981 | (497 | ) | ||||||||||||||||||||||||
Total | $ | 883,579 | $ | (70,888 | ) | $ | 321,347 | $ | (29,698 | ) | $ | 1,204,926 | $ | (100,586 | ) | ||||||||||||||||||
The following table presents the portion of the Company’s available-for-sale securities portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2012: | |||||||||||||||||||||||||||||||||
Continuous unrealized | Continuous unrealized | Total | |||||||||||||||||||||||||||||||
losses existing for less | losses existing for | ||||||||||||||||||||||||||||||||
than 12 months | greater than 12 months | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value | Unrealized | Fair | Unrealized | Fair value | Unrealized | |||||||||||||||||||||||||||
losses | value | losses | losses | ||||||||||||||||||||||||||||||
U.S. Treasury | $ | 199,250 | $ | (937 | ) | $ | — | $ | — | $ | 199,250 | $ | (937 | ) | |||||||||||||||||||
U.S. Government agencies | 200,408 | (986 | ) | — | — | 200,408 | (986 | ) | |||||||||||||||||||||||||
Municipal | 26,782 | (295 | ) | 512 | (1 | ) | 27,294 | (296 | ) | ||||||||||||||||||||||||
Corporate notes: | |||||||||||||||||||||||||||||||||
Financial issuers | 4,644 | (13 | ) | 91,970 | (3,969 | ) | 96,614 | (3,982 | ) | ||||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||||||
Mortgage-backed: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | 20,198 | (30 | ) | — | — | 20,198 | (30 | ) | |||||||||||||||||||||||||
Collateralized mortgage obligations | — | — | — | — | — | — | |||||||||||||||||||||||||||
Other equity securities | 5,960 | (40 | ) | 22,078 | (3,322 | ) | 28,038 | (3,362 | ) | ||||||||||||||||||||||||
Total | $ | 457,242 | $ | (2,301 | ) | $ | 114,560 | $ | (7,292 | ) | $ | 571,802 | $ | (9,593 | ) | ||||||||||||||||||
The Company conducts a regular assessment of its investment securities to determine whether securities are other-than-temporarily impaired considering, among other factors, the nature of the securities, credit ratings or financial condition of the issuer, the extent and duration of the unrealized loss, expected cash flows, market conditions and the Company’s ability to hold the securities through the anticipated recovery period. | |||||||||||||||||||||||||||||||||
The Company does not consider securities with unrealized losses at December 31, 2013 to be other-than-temporarily impaired. The Company does not intend to sell these investments and it is more likely than not that the Company will not be required to sell these investments before recovery of the amortized cost bases, which may be the maturity dates of the securities. The unrealized losses within each category have occurred as a result of changes in interest rates, market spreads and market conditions subsequent to purchase. Securities with continuous unrealized losses existing for more than twelve months were primarily treasury notes, corporate securities of financial issuers, and agency bonds. Unrealized losses recognized on treasury notes and agency bonds are the result of increases in yields for similar types of securities which have a longer duration and maturity. The unrealized losses on corporate securities of financial issuers were comprised primarily of three trust-preferred securities. These securities continue to make contractual interest payments and have issuers with strong capital ratios. | |||||||||||||||||||||||||||||||||
In the fourth quarter of 2013, the Company recorded an other-than-temporary impairment charge related to a money market preferred security. The Company recognized this charge because it estimated that it would not be able to recover its amortized basis prior to its anticipated sale of the security as a result of the Volcker Rule. | |||||||||||||||||||||||||||||||||
The following table provides information as to the amount of gross gains and gross losses realized, other-than-temporary impairment charges and proceeds received through the sales of available-for-sale investment securities: | |||||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||
Realized gains | $ | 434 | $ | 4,918 | $ | 1,874 | |||||||||||||||||||||||||||
Realized losses | (106 | ) | (23 | ) | (82 | ) | |||||||||||||||||||||||||||
Net realized gains | $ | 328 | $ | 4,895 | $ | 1,792 | |||||||||||||||||||||||||||
Other than temporary impairment charges | (3,328 | ) | — | — | |||||||||||||||||||||||||||||
(Losses) gains on available-for-sale securities, net | $ | (3,000 | ) | $ | 4,895 | $ | 1,792 | ||||||||||||||||||||||||||
Proceeds from sales of available-for-sale securities, net | $ | 138,274 | $ | 2,399,035 | $ | 1,265,046 | |||||||||||||||||||||||||||
Net losses on available-for-sale securities resulted in an income tax benefit included in total income tax expense of $1.2 million in 2013. Net gains on available-for-sale securities resulted in income tax expense of $1.9 million in 2012 and $705,000 in 2011. | |||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities as of December 31, 2013 and December 31, 2012, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties: | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||||||||||
Due in one year or less | $ | 268,847 | $ | 269,168 | $ | 188,594 | $ | 189,015 | |||||||||||||||||||||||||
Due in one to five years | 358,108 | 358,357 | 419,588 | 419,654 | |||||||||||||||||||||||||||||
Due in five to ten years | 350,372 | 330,020 | 361,037 | 362,135 | |||||||||||||||||||||||||||||
Due after ten years | 616,840 | 561,992 | 501,177 | 503,999 | |||||||||||||||||||||||||||||
Mortgage-backed | 620,419 | 605,225 | 261,871 | 271,574 | |||||||||||||||||||||||||||||
Other equity securities | 50,532 | 51,528 | 52,846 | 49,699 | |||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 2,265,118 | $ | 2,176,290 | $ | 1,785,113 | $ | 1,796,076 | |||||||||||||||||||||||||
At December 31, 2013 and December 31, 2012, securities having a carrying value of $1.2 billion and $1.1 billion, respectively, which include securities traded but not yet settled, were pledged as collateral for public deposits, trust deposits, FHLB advances, securities sold under repurchase agreements and derivatives. At December 31, 2013, there were no securities of a single issuer, other than U.S. Government-sponsored agency securities, which exceeded 10% of shareholders’ equity. |
Loans
Loans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | ||||||||||||||||
Loans | ' | ||||||||||||||||
Loans | |||||||||||||||||
A summary of the loan portfolio at December 31, 2013 and 2012 is as follows: | |||||||||||||||||
(Dollars in thousands) | December 31, | December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance: | |||||||||||||||||
Commercial | $ | 3,253,687 | $ | 2,914,798 | |||||||||||||
Commercial real-estate | 4,230,035 | 3,864,118 | |||||||||||||||
Home equity | 719,137 | 788,474 | |||||||||||||||
Residential real-estate | 434,992 | 367,213 | |||||||||||||||
Premium finance receivables—commercial | 2,167,565 | 1,987,856 | |||||||||||||||
Premium finance receivables—life insurance | 1,923,698 | 1,725,166 | |||||||||||||||
Indirect consumer | 50,680 | 77,333 | |||||||||||||||
Consumer and other | 116,808 | 103,985 | |||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 12,896,602 | $ | 11,828,943 | |||||||||||||
Covered loans | 346,431 | 560,087 | |||||||||||||||
Total loans | $ | 13,243,033 | $ | 12,389,030 | |||||||||||||
Mix: | |||||||||||||||||
Commercial | 25 | % | 24 | % | |||||||||||||
Commercial real-estate | 32 | 31 | |||||||||||||||
Home equity | 5 | 6 | |||||||||||||||
Residential real-estate | 3 | 3 | |||||||||||||||
Premium finance receivables—commercial | 16 | 16 | |||||||||||||||
Premium finance receivables—life insurance | 15 | 14 | |||||||||||||||
Indirect consumer | — | 1 | |||||||||||||||
Consumer and other | 1 | 1 | |||||||||||||||
Total loans, net of unearned income, excluding covered loans | 97 | % | 96 | % | |||||||||||||
Covered loans | 3 | 4 | |||||||||||||||
Total loans | 100 | % | 100 | % | |||||||||||||
Certain premium finance receivables are recorded net of unearned income. The unearned income portions of such premium finance receivables were $41.9 million and $41.1 million at December 31, 2013 and 2012, respectively. Certain life insurance premium finance receivables attributable to the life insurance premium finance loan acquisition in 2009 as well as loans acquired with evidence of credit quality deterioration since origination are recorded net of credit discounts. See “Acquired Loan Information at Acquisition,” below. | |||||||||||||||||
Total loans, excluding loans acquired with evidence of credit quality deterioration since origination, include net deferred loan fees and costs and fair value purchase accounting adjustments totaling $(9.2) million and $13.2 million at December 31, 2013 and 2012, respectively. The net credit balance at December 31, 2013 is primarily the result of purchase accounting adjustments related to the acquisition of FNBI and Diamond during 2013. | |||||||||||||||||
Certain real estate loans, including mortgage loans held-for-sale, and home equity loans with balances totaling approximately $2.9 billion and $2.5 billion at December 31, 2013 and 2012, respectively, were pledged as collateral to secure the availability of borrowings from certain federal agency banks. At December 31, 2013, approximately $2.4 billion of these pledged loans are included in a blanket pledge of qualifying loans to the FHLB. The remaining $461.2 million of pledged loans was used to secure potential borrowings at the Federal Reserve Bank discount window. At December 31, 2013 and 2012, the banks borrowed $417.8 million and $414.1 million, respectively, from the FHLB in connection with these collateral arrangements. See Note 13 – Federal Home Loan Bank Advances for a summary of these borrowings. | |||||||||||||||||
The Company’s loan portfolio is generally comprised of loans to consumers and small to medium-sized businesses located within the geographic market areas that the banks serve. The premium finance receivables portfolios are made to customers throughout the United States and Canada and the majority of the indirect consumer loans were generated through a network of local automobile dealers. The Company strives to maintain a loan portfolio that is diverse in terms of loan type, industry, borrower and geographic concentrations. Such diversification reduces the exposure to economic downturns that may occur in different segments of the economy or in different industries. | |||||||||||||||||
It is the policy of the Company to review each prospective credit in order to determine the appropriateness and, when required, the adequacy of security or collateral necessary to obtain when making a loan. The type of collateral, when required, will vary from liquid assets to real estate. The Company seeks to assure access to collateral, in the event of default, through adherence to state lending laws and the Company’s credit monitoring procedures. | |||||||||||||||||
Acquired Loan Information at Acquisition — Loans with evidence of credit quality deterioration since origination | |||||||||||||||||
As part of our previous acquisitions, we acquired loans for which there was evidence of credit quality deterioration since origination and we determined that it was probable that the Company would be unable to collect all contractually required principal and interest payments. The following table presents the unpaid principal balance and carrying value for these acquired loans: | |||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||
(Dollars in thousands) | Unpaid | Carrying | Unpaid | Carrying | |||||||||||||
Principal | Value | Principal | Value | ||||||||||||||
Balance | Balance | ||||||||||||||||
Bank acquisitions | $ | 453,944 | $ | 338,517 | $ | 674,868 | $ | 503,837 | |||||||||
Life insurance premium finance loans acquisition | 437,155 | 423,906 | 536,503 | 514,459 | |||||||||||||
The following table provides estimated details on loans acquired in 2013 as of the date of acquisition: | |||||||||||||||||
(Dollars in thousands) | FNBI | Diamond | |||||||||||||||
Contractually required payments including interest | $ | 32,022 | $ | 47,853 | |||||||||||||
Less: Nonaccretable difference | 8,890 | 12,898 | |||||||||||||||
Cash flows expected to be collected (1) | 23,132 | 34,955 | |||||||||||||||
Less: Accretable yield | 2,055 | 3,451 | |||||||||||||||
Fair value of loans acquired with evidence of credit quality deterioration since origination | $ | 21,077 | $ | 31,504 | |||||||||||||
-1 | Represents undiscounted expected principal and interest cash flows at acquisition. | ||||||||||||||||
See Note 5 – Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans for further discussion regarding the allowance for loan losses associated with loans acquired with evidence of credit quality deterioration since origination at December 31, 2013. | |||||||||||||||||
Accretable Yield Activity — Loans with evidence of credit quality deterioration since origination | |||||||||||||||||
Changes in expected cash flows may vary from period to period as the Company periodically updates its cash flow model assumptions for loans acquired with evidence of credit quality deterioration since origination. The factors that most significantly affect the estimates of gross cash flows expected to be collected, and accordingly the accretable yield, include changes in the benchmark interest rate indices for variable-rate products and changes in prepayment assumptions and loss estimates. The following table provides activity for the accretable yield of loans acquired with evidence of credit quality deterioration since origination. | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(Dollars in thousands) | Bank | Life Insurance | Bank | Life Insurance | |||||||||||||
Acquisitions | Premium | Acquisitions | Premium | ||||||||||||||
Finance Loans | Finance Loans | ||||||||||||||||
Accretable yield, beginning balance | $ | 143,224 | $ | 13,055 | $ | 173,120 | $ | 18,861 | |||||||||
Acquisitions | 5,428 | — | 8,217 | — | |||||||||||||
Accretable yield amortized to interest income | (36,898 | ) | (8,795 | ) | (52,101 | ) | (11,441 | ) | |||||||||
Accretable yield amortized to indemnification asset (1) | (36,202 | ) | — | (66,798 | ) | — | |||||||||||
Reclassification from non-accretable difference (2) | 50,873 | 2,840 | 64,603 | 4,096 | |||||||||||||
(Decreases) increases in interest cash flows due to payments and changes in interest rates | (18,770 | ) | 1,154 | 16,183 | 1,539 | ||||||||||||
Accretable yield, ending balance (3) | $ | 107,655 | $ | 8,254 | $ | 143,224 | $ | 13,055 | |||||||||
-1 | Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnfication asset. | ||||||||||||||||
-2 | Reclassification is the result of subsequent increases in expected principal cash flows. | ||||||||||||||||
-3 | As of December 31, 2013, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $33.7 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income. | ||||||||||||||||
Accretion to interest income from loans acquired in bank acquisitions totaled $36.9 million and $52.1 million in 2013 and 2012, respectively. These amounts include accretion from both covered and non-covered loans, and are included together within interest and fees on loans in the Consolidated Statements of Income. |
Allowance_for_Loan_Losses_Allo
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments nd Impaired Loans | ' | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans | |||||||||||||||||||||||||||||||||||||||||||
The tables below show the aging of the Company’s loan portfolio at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | Nonaccrual | 90+ days | 60-89 | 30-59 | Current | Total Loans | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | and still | days past | days past | ||||||||||||||||||||||||||||||||||||||||
accruing | due | due | |||||||||||||||||||||||||||||||||||||||||
Loan Balances: | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 10,143 | $ | — | $ | 4,938 | $ | 7,404 | $ | 1,813,721 | $ | 1,836,206 | |||||||||||||||||||||||||||||||
Franchise | — | — | 400 | — | 219,983 | 220,383 | |||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | 67,470 | 67,470 | |||||||||||||||||||||||||||||||||||||
Community Advantage — homeowners association | — | — | — | — | 90,894 | 90,894 | |||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | 10,241 | 10,241 | |||||||||||||||||||||||||||||||||||||
Asset-based lending | 637 | — | 388 | 1,878 | 732,190 | 735,093 | |||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | 161,239 | 161,239 | |||||||||||||||||||||||||||||||||||||
Leases | — | — | — | 788 | 109,043 | 109,831 | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 11,147 | 11,147 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered | — | 274 | 156 | 1,685 | 9,068 | 11,183 | |||||||||||||||||||||||||||||||||||||
commercial (1) | |||||||||||||||||||||||||||||||||||||||||||
Total commercial | 10,780 | 274 | 5,882 | 11,755 | 3,224,996 | 3,253,687 | |||||||||||||||||||||||||||||||||||||
Commercial real-estate: | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 149 | — | — | — | 38,351 | 38,500 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 6,969 | — | — | 505 | 129,232 | 136,706 | |||||||||||||||||||||||||||||||||||||
Land | 2,814 | — | 4,224 | 619 | 99,128 | 106,785 | |||||||||||||||||||||||||||||||||||||
Office | 10,087 | — | 2,265 | 3,862 | 626,027 | 642,241 | |||||||||||||||||||||||||||||||||||||
Industrial | 5,654 | — | 585 | 914 | 626,785 | 633,938 | |||||||||||||||||||||||||||||||||||||
Retail | 10,862 | — | 837 | 2,435 | 642,125 | 656,259 | |||||||||||||||||||||||||||||||||||||
Multi-family | 2,035 | — | — | 348 | 564,154 | 566,537 | |||||||||||||||||||||||||||||||||||||
Mixed use and other | 8,088 | 230 | 3,943 | 15,949 | 1,344,244 | 1,372,454 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial real-estate (1) | — | 18,582 | 3,540 | 5,238 | 49,255 | 76,615 | |||||||||||||||||||||||||||||||||||||
Total commercial real-estate | 46,658 | 18,812 | 15,394 | 29,870 | 4,119,301 | 4,230,035 | |||||||||||||||||||||||||||||||||||||
Home equity | 10,071 | — | 1,344 | 3,060 | 704,662 | 719,137 | |||||||||||||||||||||||||||||||||||||
Residential real estate | 14,974 | — | 1,689 | 5,032 | 410,430 | 432,125 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered residential real estate (1) | — | 1,988 | — | — | 879 | 2,867 | |||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance loans | 10,537 | 8,842 | 6,912 | 24,094 | 2,117,180 | 2,167,565 | |||||||||||||||||||||||||||||||||||||
Life insurance loans | — | — | 2,524 | 1,808 | 1,495,460 | 1,499,792 | |||||||||||||||||||||||||||||||||||||
Purchased life insurance loans (1) | — | — | — | — | 423,906 | 423,906 | |||||||||||||||||||||||||||||||||||||
Indirect consumer | 55 | 105 | 29 | 353 | 50,138 | 50,680 | |||||||||||||||||||||||||||||||||||||
Consumer and other | 1,082 | — | 47 | 657 | 113,818 | 115,604 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered consumer and other (1) | — | 181 | — | — | 1,023 | 1,204 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 94,157 | $ | 30,202 | $ | 33,821 | $ | 76,629 | $ | 12,661,793 | $ | 12,896,602 | |||||||||||||||||||||||||||||||
Covered loans | 9,425 | 56,282 | 5,877 | 7,937 | 266,910 | 346,431 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | 103,582 | $ | 86,484 | $ | 39,698 | $ | 84,566 | $ | 12,928,703 | $ | 13,243,033 | |||||||||||||||||||||||||||||||
-1 | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments. See Note 4 - Loans for further discussion of these purchased loans. | ||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Nonaccrual | 90+ days | 60-89 | 30-59 | Current | Total Loans | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | and still | days past | days past | ||||||||||||||||||||||||||||||||||||||||
accruing | due | due | |||||||||||||||||||||||||||||||||||||||||
Loan Balances: | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 19,409 | $ | — | $ | 5,520 | $ | 15,410 | $ | 1,587,864 | $ | 1,628,203 | |||||||||||||||||||||||||||||||
Franchise | 1,792 | — | — | — | 194,603 | 196,395 | |||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | 215,076 | 215,076 | |||||||||||||||||||||||||||||||||||||
Community Advantage — homeowners association | — | — | — | — | 81,496 | 81,496 | |||||||||||||||||||||||||||||||||||||
Aircraft | — | — | 148 | — | 17,216 | 17,364 | |||||||||||||||||||||||||||||||||||||
Asset-based lending | 536 | — | 1,126 | 6,622 | 564,154 | 572,438 | |||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | 91,824 | 91,824 | |||||||||||||||||||||||||||||||||||||
Leases | — | — | — | 896 | 89,547 | 90,443 | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 16,549 | 16,549 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered | — | 496 | 432 | 7 | 4,075 | 5,010 | |||||||||||||||||||||||||||||||||||||
commercial (1) | |||||||||||||||||||||||||||||||||||||||||||
Total commercial | 21,737 | 496 | 7,226 | 22,935 | 2,862,404 | 2,914,798 | |||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 3,110 | — | 4 | 41 | 37,246 | 40,401 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 2,159 | — | 885 | 386 | 167,525 | 170,955 | |||||||||||||||||||||||||||||||||||||
Land | 11,299 | — | 632 | 9,014 | 113,252 | 134,197 | |||||||||||||||||||||||||||||||||||||
Office | 4,196 | — | 1,889 | 3,280 | 560,346 | 569,711 | |||||||||||||||||||||||||||||||||||||
Industrial | 2,089 | — | 6,042 | 4,512 | 565,294 | 577,937 | |||||||||||||||||||||||||||||||||||||
Retail | 7,792 | — | 1,372 | 998 | 558,734 | 568,896 | |||||||||||||||||||||||||||||||||||||
Multi-family | 2,586 | — | 3,949 | 1,040 | 389,116 | 396,691 | |||||||||||||||||||||||||||||||||||||
Mixed use and other | 16,742 | — | 6,660 | 13,349 | 1,312,503 | 1,349,254 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial real-estate (1) | — | 749 | 2,663 | 2,508 | 50,156 | 56,076 | |||||||||||||||||||||||||||||||||||||
Total commercial real-estate | 49,973 | 749 | 24,096 | 35,128 | 3,754,172 | 3,864,118 | |||||||||||||||||||||||||||||||||||||
Home equity | 13,423 | 100 | 1,592 | 5,043 | 768,316 | 788,474 | |||||||||||||||||||||||||||||||||||||
Residential real estate | 11,728 | — | 2,763 | 8,250 | 343,616 | 366,357 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered residential real estate (1) | — | — | 200 | — | 656 | 856 | |||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance loans | 9,302 | 10,008 | 6,729 | 19,597 | 1,942,220 | 1,987,856 | |||||||||||||||||||||||||||||||||||||
Life insurance loans | 25 | — | — | 5,531 | 1,205,151 | 1,210,707 | |||||||||||||||||||||||||||||||||||||
Purchased life insurance loans (1) | — | — | — | — | 514,459 | 514,459 | |||||||||||||||||||||||||||||||||||||
Indirect consumer | 55 | 189 | 51 | 442 | 76,596 | 77,333 | |||||||||||||||||||||||||||||||||||||
Consumer and other | 1,511 | 32 | 167 | 433 | 99,010 | 101,153 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered consumer and other (1) | — | 66 | 32 | 101 | 2,633 | 2,832 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 107,754 | $ | 11,640 | $ | 42,856 | $ | 97,460 | $ | 11,569,233 | $ | 11,828,943 | |||||||||||||||||||||||||||||||
Covered loans | 1,988 | 122,350 | 16,108 | 7,999 | 411,642 | 560,087 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | 109,742 | $ | 133,990 | $ | 58,964 | $ | 105,459 | $ | 11,980,875 | $ | 12,389,030 | |||||||||||||||||||||||||||||||
-1 | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments. See Note 4 - Loans for further discussion of these purchased loans. | ||||||||||||||||||||||||||||||||||||||||||
Our ability to manage credit risk depends in large part on our ability to properly identify and manage problem loans. To do so, we operate a credit risk rating system under which our credit management personnel assign a credit risk rating (1 to 10 rating) to each loan at the time of origination and review loans on a regular basis. | |||||||||||||||||||||||||||||||||||||||||||
Each loan officer is responsible for monitoring his or her loan portfolio, recommending a credit risk rating for each loan in his or her portfolio and ensuring the credit risk ratings are appropriate. These credit risk ratings are then ratified by the bank’s chief credit officer and/or concurrence credit officer. Credit risk ratings are determined by evaluating a number of factors including: a borrower’s financial strength, cash flow coverage, collateral protection and guarantees. | |||||||||||||||||||||||||||||||||||||||||||
The Company’s Problem Loan Reporting system automatically includes all loans with credit risk ratings of 6 through 9. This system is designed to provide an on-going detailed tracking mechanism for each problem loan. Once management determines that a loan has deteriorated to a point where it has a credit risk rating of 6 or worse, the Company’s Managed Asset Division performs an overall credit and collateral review. As part of this review, all underlying collateral is identified and the valuation methodology is analyzed and tracked. As a result of this initial review by the Company’s Managed Asset Division, the credit risk rating is reviewed and a portion of the outstanding loan balance may be deemed uncollectible or an impairment reserve may be established. The Company’s impairment analysis utilizes an independent re-appraisal of the collateral (unless such a third-party evaluation is not possible due to the unique nature of the collateral, such as a closely-held business or thinly traded securities). In the case of commercial real estate collateral, an independent third party appraisal is ordered by the Company’s Real Estate Services Group to determine if there has been any change in the underlying collateral value. These independent appraisals are reviewed by the Real Estate Services Group and sometimes by independent third party valuation experts and may be adjusted depending upon market conditions. | |||||||||||||||||||||||||||||||||||||||||||
Through the credit risk rating process, loans are reviewed to determine if they are performing in accordance with the original contractual terms. If the borrower has failed to comply with the original contractual terms, further action may be required by the Company, including a downgrade in the credit risk rating, movement to non-accrual status, a charge-off or the establishment of a specific impairment reserve. If we determine that a loan amount or portion thereof is uncollectible the loan’s credit risk rating is immediately downgraded to an 8 or 9 and the uncollectible amount is charged-off. Any loan that has a partial charge-off continues to be assigned a credit risk rating of an 8 or 9 for the duration of time that a balance remains outstanding. The Company undertakes a thorough and ongoing analysis to determine if additional impairment and/or charge-offs are appropriate and to begin a workout plan for the credit to minimize actual losses. | |||||||||||||||||||||||||||||||||||||||||||
If, based on current information and events, it is probable that the Company will be unable to collect all amounts due to it according to the contractual terms of the loan agreement, a specific impairment reserve is established. In determining the appropriate charge-off for collateral-dependent loans, the Company considers the results of appraisals for the associated collateral. | |||||||||||||||||||||||||||||||||||||||||||
Non-performing loans include all non-accrual loans (8 and 9 risk ratings) as well as loans 90 days past due and still accruing interest, excluding loans acquired with evidence of credit quality deterioration since origination. The remainder of the portfolio is considered performing under the contractual terms of the loan agreement. The following table presents the recorded investment based on performance of loans by class, excluding covered loans, per the most recent analysis at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||
Performing | Non-performing | Total | |||||||||||||||||||||||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Loan Balances: | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,826,063 | $ | 1,608,794 | $ | 10,143 | $ | 19,409 | $ | 1,836,206 | $ | 1,628,203 | |||||||||||||||||||||||||||||||
Franchise | 220,383 | 194,603 | — | 1,792 | 220,383 | 196,395 | |||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | 67,470 | 215,076 | — | — | 67,470 | 215,076 | |||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | 90,894 | 81,496 | — | — | 90,894 | 81,496 | |||||||||||||||||||||||||||||||||||||
Aircraft | 10,241 | 17,364 | — | — | 10,241 | 17,364 | |||||||||||||||||||||||||||||||||||||
Asset-based lending | 734,456 | 571,902 | 637 | 536 | 735,093 | 572,438 | |||||||||||||||||||||||||||||||||||||
Tax exempt | 161,239 | 91,824 | — | — | 161,239 | 91,824 | |||||||||||||||||||||||||||||||||||||
Leases | 109,831 | 90,443 | — | — | 109,831 | 90,443 | |||||||||||||||||||||||||||||||||||||
Other | 11,147 | 16,549 | — | — | 11,147 | 16,549 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial (1) | 11,183 | 5,010 | — | — | 11,183 | 5,010 | |||||||||||||||||||||||||||||||||||||
Total commercial | 3,242,907 | 2,893,061 | 10,780 | 21,737 | 3,253,687 | 2,914,798 | |||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 38,351 | 37,291 | 149 | 3,110 | 38,500 | 40,401 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 129,737 | 168,796 | 6,969 | 2,159 | 136,706 | 170,955 | |||||||||||||||||||||||||||||||||||||
Land | 103,971 | 122,898 | 2,814 | 11,299 | 106,785 | 134,197 | |||||||||||||||||||||||||||||||||||||
Office | 632,154 | 565,515 | 10,087 | 4,196 | 642,241 | 569,711 | |||||||||||||||||||||||||||||||||||||
Industrial | 628,284 | 575,848 | 5,654 | 2,089 | 633,938 | 577,937 | |||||||||||||||||||||||||||||||||||||
Retail | 645,397 | 561,104 | 10,862 | 7,792 | 656,259 | 568,896 | |||||||||||||||||||||||||||||||||||||
Multi-family | 564,502 | 394,105 | 2,035 | 2,586 | 566,537 | 396,691 | |||||||||||||||||||||||||||||||||||||
Mixed use and other | 1,364,136 | 1,332,512 | 8,318 | 16,742 | 1,372,454 | 1,349,254 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial real-estate (1) | 76,615 | 56,076 | — | — | 76,615 | 56,076 | |||||||||||||||||||||||||||||||||||||
Total commercial real-estate | 4,183,147 | 3,814,145 | 46,888 | 49,973 | 4,230,035 | 3,864,118 | |||||||||||||||||||||||||||||||||||||
Home equity | 709,066 | 774,951 | 10,071 | 13,523 | 719,137 | 788,474 | |||||||||||||||||||||||||||||||||||||
Residential real estate | 417,151 | 354,629 | 14,974 | 11,728 | 432,125 | 366,357 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered residential real estate (1) | 2,867 | 856 | — | — | 2,867 | 856 | |||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance loans | 2,148,186 | 1,968,546 | 19,379 | 19,310 | 2,167,565 | 1,987,856 | |||||||||||||||||||||||||||||||||||||
Life insurance loans | 1,499,792 | 1,210,682 | — | 25 | 1,499,792 | 1,210,707 | |||||||||||||||||||||||||||||||||||||
Purchased life insurance loans (1) | 423,906 | 514,459 | — | — | 423,906 | 514,459 | |||||||||||||||||||||||||||||||||||||
Indirect consumer | 50,520 | 77,089 | 160 | 244 | 50,680 | 77,333 | |||||||||||||||||||||||||||||||||||||
Consumer and other | 114,522 | 99,610 | 1,082 | 1,543 | 115,604 | 101,153 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered consumer and other (1) | 1,204 | 2,832 | — | — | 1,204 | 2,832 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 12,793,268 | $ | 11,710,860 | $ | 103,334 | $ | 118,083 | $ | 12,896,602 | $ | 11,828,943 | |||||||||||||||||||||||||||||||
-1 | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. See Note 4 - Loans for further discussion of these purchased loans. | ||||||||||||||||||||||||||||||||||||||||||
A summary of the activity in the allowance for credit losses by loan portfolio (excluding covered loans) for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||
Year Ended | Commercial | Commercial | Home | Residential | Premium | Indirect | Consumer | Total, | |||||||||||||||||||||||||||||||||||
December 31, 2013 | Real-estate | Equity | Real-estate | Finance | Consumer | and Other | Excluding | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Receivable | Covered | |||||||||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses at beginning of period | $ | 28,794 | $ | 52,135 | $ | 12,734 | $ | 5,560 | $ | 6,096 | $ | 267 | $ | 1,765 | $ | 107,351 | |||||||||||||||||||||||||||
Other adjustments | (51 | ) | (783 | ) | 3 | (88 | ) | (19 | ) | — | — | (938 | ) | ||||||||||||||||||||||||||||||
Reclassification to/from allowance for unfunded lending-related commitments | — | 640 | — | — | — | — | — | 640 | |||||||||||||||||||||||||||||||||||
Charge-offs | (14,123 | ) | (32,745 | ) | (6,361 | ) | (2,958 | ) | (5,080 | ) | (130 | ) | (980 | ) | (62,377 | ) | |||||||||||||||||||||||||||
Recoveries | 1,655 | 2,526 | 432 | 289 | 1,121 | 53 | 186 | 6,262 | |||||||||||||||||||||||||||||||||||
Provision for credit losses | 6,817 | 26,885 | 5,803 | 2,305 | 3,465 | (8 | ) | 717 | 45,984 | ||||||||||||||||||||||||||||||||||
Allowance for loan losses at period end | $ | 23,092 | $ | 48,658 | $ | 12,611 | $ | 5,108 | $ | 5,583 | $ | 182 | $ | 1,688 | $ | 96,922 | |||||||||||||||||||||||||||
Allowance for unfunded lending-related commitments at period end | $ | — | $ | 719 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 719 | |||||||||||||||||||||||||||
Allowance for credit losses at period end | $ | 23,092 | $ | 49,377 | $ | 12,611 | $ | 5,108 | $ | 5,583 | $ | 182 | $ | 1,688 | $ | 97,641 | |||||||||||||||||||||||||||
Individually evaluated for impairment | 1,392 | 4,653 | 1,593 | 655 | — | — | 109 | 8,402 | |||||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 21,637 | 44,724 | 11,018 | 4,390 | 5,583 | 182 | 1,578 | 89,112 | |||||||||||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 63 | — | — | 63 | — | — | 1 | 127 | |||||||||||||||||||||||||||||||||||
Loans at period end | |||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 17,628 | $ | 117,149 | $ | 10,297 | $ | 17,901 | $ | — | $ | 55 | $ | 1,534 | $ | 164,564 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 3,224,876 | 4,036,271 | 708,840 | 414,224 | 3,667,357 | 50,625 | 114,070 | 12,216,263 | |||||||||||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 11,183 | 76,615 | — | 2,867 | 423,906 | — | 1,204 | 515,775 | |||||||||||||||||||||||||||||||||||
Year Ended | Commercial | Commercial | Home | Residential | Premium | Indirect | Consumer | Total, | |||||||||||||||||||||||||||||||||||
December 31, 2012 | Real-estate | Equity | Real-estate | Finance | Consumer | and Other | Excluding | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Receivable | Covered | |||||||||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses at beginning of period | $ | 31,237 | $ | 56,405 | $ | 7,712 | $ | 5,028 | $ | 7,214 | $ | 645 | $ | 2,140 | $ | 110,381 | |||||||||||||||||||||||||||
Other adjustments | (151 | ) | (1,054 | ) | (4 | ) | (124 | ) | — | — | — | (1,333 | ) | ||||||||||||||||||||||||||||||
Reclassification to/from allowance for unfunded lending-related commitments | 45 | 648 | — | — | — | — | — | 693 | |||||||||||||||||||||||||||||||||||
Charge-offs | (22,405 | ) | (43,539 | ) | (9,361 | ) | (4,060 | ) | (3,780 | ) | (221 | ) | (1,024 | ) | (84,390 | ) | |||||||||||||||||||||||||||
Recoveries | 1,220 | 6,635 | 428 | 22 | 940 | 103 | 240 | 9,588 | |||||||||||||||||||||||||||||||||||
Provision for credit losses | 18,848 | 33,040 | 13,959 | 4,694 | 1,722 | (260 | ) | 409 | 72,412 | ||||||||||||||||||||||||||||||||||
Allowance for loan losses at period end | $ | 28,794 | $ | 52,135 | $ | 12,734 | $ | 5,560 | $ | 6,096 | $ | 267 | $ | 1,765 | $ | 107,351 | |||||||||||||||||||||||||||
Allowance for unfunded lending-related commitments at period end | $ | — | $ | 14,647 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 14,647 | |||||||||||||||||||||||||||
Allowance for credit losses at period end | $ | 28,794 | $ | 66,782 | $ | 12,734 | $ | 5,560 | $ | 6,096 | $ | 267 | $ | 1,765 | $ | 121,998 | |||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,296 | $ | 20,481 | $ | 2,569 | $ | 1,169 | $ | — | $ | — | $ | 142 | $ | 27,657 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 25,471 | $ | 46,233 | $ | 10,165 | $ | 4,388 | $ | 6,096 | $ | 267 | $ | 1,623 | $ | 94,243 | |||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | $ | 27 | $ | 68 | $ | — | $ | 3 | $ | — | $ | — | $ | — | $ | 98 | |||||||||||||||||||||||||||
Loans at period end | |||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 33,608 | $ | 139,878 | $ | 14,590 | $ | 14,810 | $ | — | $ | 53 | $ | 1,606 | $ | 204,545 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 2,876,180 | 3,668,164 | 773,884 | 351,547 | 3,198,563 | 77,280 | 99,547 | 11,045,165 | |||||||||||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 5,010 | 56,076 | — | 856 | 514,459 | — | 2,832 | 579,233 | |||||||||||||||||||||||||||||||||||
A summary of activity in the allowance for covered loan losses for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||
Years Ended | |||||||||||||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 13,454 | $ | 12,977 | |||||||||||||||||||||||||||||||||||||||
Provision for covered loan losses before benefit attributable to FDIC loss share agreements | 246 | 20,282 | |||||||||||||||||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (197 | ) | (16,258 | ) | |||||||||||||||||||||||||||||||||||||||
Net provision for covered loan losses | 49 | 4,024 | |||||||||||||||||||||||||||||||||||||||||
Increase in FDIC indemnification asset | 197 | 16,258 | |||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (15,085 | ) | (19,921 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries of loans charged-off | 11,477 | 116 | |||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (3,608 | ) | (19,805 | ) | |||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 10,092 | $ | 13,454 | |||||||||||||||||||||||||||||||||||||||
In conjunction with FDIC-assisted transactions, the Company entered into loss share agreements with the FDIC. Additional expected losses, to the extent such expected losses result in the recognition of an allowance for loan losses, will increase the FDIC indemnification asset. The allowance for loan losses for loans acquired in FDIC-assisted transactions is determined without giving consideration to the amounts recoverable through loss share agreements (since the loss share agreements are separately accounted for and thus presented “gross” on the balance sheet). On the Consolidated Statements of Income, the provision for credit losses is reported net of changes in the amount recoverable under the loss share agreements. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will reduce the FDIC indemnification asset. Additions to expected losses will require an increase to the allowance for loan losses, and a corresponding increase to the FDIC indemnification asset. See "FDIC-Assisted Transactions" within Note 8 - Business Combinations for more detail. | |||||||||||||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||||||||||||
A summary of impaired loans, including TDRs, at December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Impaired loans (included in non-performing and restructured loans): | |||||||||||||||||||||||||||||||||||||||||||
Impaired loans with an allowance for loan loss required (1) | $ | 92,184 | $ | 89,983 | |||||||||||||||||||||||||||||||||||||||
Impaired loans with no allowance for loan loss required | 70,045 | 114,562 | |||||||||||||||||||||||||||||||||||||||||
Total impaired loans (2) | $ | 162,229 | $ | 204,545 | |||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 8,265 | $ | 13,575 | |||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings | $ | 107,103 | $ | 126,473 | |||||||||||||||||||||||||||||||||||||||
Reduction of interest income from non-accrual loans | $ | 3,971 | $ | 3,866 | |||||||||||||||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 8,920 | $ | 10,819 | |||||||||||||||||||||||||||||||||||||||
-1 | These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans. | ||||||||||||||||||||||||||||||||||||||||||
-2 | Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest. | ||||||||||||||||||||||||||||||||||||||||||
The following tables present impaired loans evaluated for impairment by loan class as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||
As of | For the Year Ended | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Principal | Allowance | Recorded | Recognized | ||||||||||||||||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||||||||||||||||
Impaired loans with a related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 6,297 | $ | 7,001 | $ | 1,078 | $ | 6,611 | $ | 354 | |||||||||||||||||||||||||||||||||
Franchise | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 282 | 294 | 282 | 295 | 14 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 3,099 | 3,099 | 18 | 3,098 | 115 | ||||||||||||||||||||||||||||||||||||||
Land | 10,518 | 11,871 | 259 | 10,323 | 411 | ||||||||||||||||||||||||||||||||||||||
Office | 7,792 | 8,444 | 1,253 | 8,148 | 333 | ||||||||||||||||||||||||||||||||||||||
Industrial | 3,385 | 3,506 | 193 | 3,638 | 179 | ||||||||||||||||||||||||||||||||||||||
Retail | 17,511 | 17,638 | 1,253 | 17,678 | 724 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 3,237 | 3,730 | 235 | 2,248 | 139 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 28,935 | 29,051 | 1,366 | 26,792 | 1,194 | ||||||||||||||||||||||||||||||||||||||
Home equity | 3,985 | 5,238 | 1,593 | 4,855 | 236 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 6,876 | 7,023 | 626 | 6,335 | 273 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 267 | 269 | 109 | 273 | 11 | ||||||||||||||||||||||||||||||||||||||
Impaired loans with no related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 9,890 | $ | 16,333 | $ | — | $ | 13,928 | $ | 1,043 | |||||||||||||||||||||||||||||||||
Franchise | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 354 | 2,311 | — | 2,162 | 121 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 1,463 | 1,530 | — | 1,609 | 64 | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 7,710 | 13,227 | — | 9,680 | 722 | ||||||||||||||||||||||||||||||||||||||
Land | 5,035 | 8,813 | — | 5,384 | 418 | ||||||||||||||||||||||||||||||||||||||
Office | 10,379 | 11,717 | — | 10,925 | 610 | ||||||||||||||||||||||||||||||||||||||
Industrial | 5,087 | 5,267 | — | 5,160 | 328 | ||||||||||||||||||||||||||||||||||||||
Retail | 7,047 | 8,610 | — | 8,462 | 400 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 608 | 1,030 | — | 903 | 47 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 4,077 | 6,213 | — | 5,046 | 352 | ||||||||||||||||||||||||||||||||||||||
Home equity | 6,312 | 7,790 | — | 6,307 | 324 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 10,761 | 13,585 | — | 9,443 | 393 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | 55 | 61 | — | 48 | 6 | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 1,267 | 1,804 | — | 1,307 | 109 | ||||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 162,229 | $ | 195,455 | $ | 8,265 | $ | 170,658 | $ | 8,920 | |||||||||||||||||||||||||||||||||
As of | For the Year Ended | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Principal | Allowance | Recorded | Recognized | ||||||||||||||||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||||||||||||||||
Impaired loans with a related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 11,010 | $ | 12,562 | $ | 1,982 | $ | 13,312 | $ | 881 | |||||||||||||||||||||||||||||||||
Franchise | 1,792 | 1,792 | 1,259 | 1,792 | 122 | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 511 | 511 | 55 | 484 | 26 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 2,007 | 2,007 | 389 | 2,007 | 98 | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 1,865 | 1,865 | 70 | 1,865 | 78 | ||||||||||||||||||||||||||||||||||||||
Land | 12,184 | 12,860 | 1,414 | 12,673 | 483 | ||||||||||||||||||||||||||||||||||||||
Office | 5,829 | 5,887 | 622 | 5,936 | 246 | ||||||||||||||||||||||||||||||||||||||
Industrial | 1,150 | 1,200 | 224 | 1,208 | 75 | ||||||||||||||||||||||||||||||||||||||
Retail | 13,240 | 13,314 | 343 | 13,230 | 584 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 3,954 | 3,954 | 348 | 3,972 | 157 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 22,249 | 23,166 | 2,989 | 23,185 | 1,165 | ||||||||||||||||||||||||||||||||||||||
Home equity | 7,270 | 7,313 | 2,569 | 7,282 | 271 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 6,420 | 6,931 | 1,169 | 6,424 | 226 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 502 | 502 | 142 | 502 | 26 | ||||||||||||||||||||||||||||||||||||||
Impaired loans with no related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 20,270 | $ | 27,574 | $ | — | $ | 23,877 | $ | 1,259 | |||||||||||||||||||||||||||||||||
Franchise | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 25 | 1,362 | — | 252 | 76 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 4,085 | 4,440 | — | 4,507 | 143 | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 12,263 | 13,395 | — | 13,635 | 540 | ||||||||||||||||||||||||||||||||||||||
Land | 12,163 | 17,141 | — | 14,646 | 906 | ||||||||||||||||||||||||||||||||||||||
Office | 8,939 | 9,521 | — | 9,432 | 437 | ||||||||||||||||||||||||||||||||||||||
Industrial | 3,598 | 3,776 | — | 3,741 | 181 | ||||||||||||||||||||||||||||||||||||||
Retail | 18,073 | 18,997 | — | 19,067 | 892 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 2,817 | 4,494 | — | 4,120 | 222 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 15,462 | 17,210 | — | 16,122 | 912 | ||||||||||||||||||||||||||||||||||||||
Home equity | 7,320 | 8,758 | — | 8,164 | 376 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 8,390 | 9,189 | — | 9,069 | 337 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | 53 | 61 | — | 65 | 6 | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 1,104 | 1,558 | — | 1,507 | 94 | ||||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 204,545 | $ | 231,340 | $ | 13,575 | $ | 222,076 | $ | 10,819 | |||||||||||||||||||||||||||||||||
Average recorded investment in impaired loans for the years ended December 31, 2013, 2012, and 2011 were $170.7 million, $222.1 million, and $247.1 million, respectively. Interest income recognized on impaired loans was $8.9 million, $10.8 million, and $12.5 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||||||||||||||||||||||||||||||||
TDRs | |||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013, the Company had $107.1 million in loans modified in TDRs. The $107.1 million in TDRs represents 149 credits in which economic concessions were granted to certain borrowers to better align the terms of their loans with their current ability to pay. | |||||||||||||||||||||||||||||||||||||||||||
The Company’s approach to restructuring loans, excluding those acquired with evidence of credit quality deterioration since origination, is built on its credit risk rating system which requires credit management personnel to assign a credit risk rating to each loan. In each case, the loan officer is responsible for recommending a credit risk rating for each loan and ensuring the credit risk ratings are appropriate. These credit risk ratings are then reviewed and approved by the bank’s chief credit officer and/or concurrence credit officer. Credit risk ratings are determined by evaluating a number of factors including a borrower’s financial strength, cash flow coverage, collateral protection and guarantees. The Company’s credit risk rating scale is one through ten with higher scores indicating higher risk. In the case of loans rated six or worse following modification, the Company’s Managed Assets Division evaluates the loan and the credit risk rating and determines that the loan has been restructured to be reasonably assured of repayment and of performance according to the modified terms and is supported by a current, well-documented credit assessment of the borrower’s financial condition and prospects for repayment under the revised terms. | |||||||||||||||||||||||||||||||||||||||||||
A modification of a loan, excluding those acquired with evidence of credit quality deterioration since origination, with an existing credit risk rating of six or worse or a modification of any other credit, which will result in a restructured credit risk rating of six or worse must be reviewed for possible TDR classification. In that event, our Managed Assets Division conducts an overall credit and collateral review. A modification of these loans is considered to be a TDR if both (1) the borrower is experiencing financial difficulty and (2) for economic or legal reasons, the bank grants a concession to a borrower that it would not otherwise consider. The modification of a loan, excluding those acquired with evidence of credit quality deterioration since origination, where the credit risk rating is five or better both before and after such modification is not considered to be a TDR. Based on the Company’s credit risk rating system, it considers that borrowers whose credit risk rating is five or better are not experiencing financial difficulties and therefore, are not considered TDRs. | |||||||||||||||||||||||||||||||||||||||||||
All credits determined to be a TDR will continue to be classified as a TDR in all subsequent periods, unless the borrower has been in compliance with the loan’s modified terms for a period of six months (including over a calendar year-end) and the modified interest rate represented a market rate at the time of a restructuring. The Managed Assets Division, in consultation with the respective loan officer, determines whether the modified interest rate represented a current market rate at the time of restructuring. Using knowledge of current market conditions and rates, competitive pricing on recent loan originations, and an assessment of various characteristics of the modified loan (including collateral position and payment history), an appropriate market rate for a new borrower with similar risk is determined. If the modified interest rate meets or exceeds this market rate for a new borrower with similar risk, the modified interest rate represents a market rate at the time of restructuring. Additionally, before removing a loan from TDR classification, a review of the current or previously measured impairment on the loan and any concerns related to future performance by the borrower is conducted. If concerns exist about the future ability of the borrower to meet its obligations under the loans based on a credit review by the Managed Assets Division, the TDR classification is not removed from the loan. Loans classified as TDRs that are re-modified subsequent to the initial determination will continue to be classified as a TDRs following the re-modification, unless the requirements for removal from TDR classification discussed above are satisfied at the time of the re-modification. | |||||||||||||||||||||||||||||||||||||||||||
TDRs are reviewed at the time of modification and on a quarterly basis to determine if a specific reserve is necessary. The carrying amount of the loan is compared to the expected payments to be received, discounted at the loan’s original rate, or for collateral dependent loans, to the fair value of the collateral less the estimated cost to sell. Any shortfall is recorded as a specific reserve. The Company, in accordance with ASC 310-10, continues to individually measure impairment of these loans after the TDR classification is removed. | |||||||||||||||||||||||||||||||||||||||||||
Each TDR was reviewed for impairment at December 31, 2013 and approximately $4.8 million of impairment was present and appropriately reserved for through the Company’s normal reserving methodology in the Company’s allowance for loan losses. For TDRs in which impairment is calculated by the present value of future cash flows, the Company records interest income representing the decrease in impairment resulting from the passage of time during the respective period, which differs from interest income from contractually required interest on these specific loans. For the year-ended December 31, 2013 and 2012, the Company recorded $901,000 and $1.3 million, respectively, in interest income representing this decrease in impairment. | |||||||||||||||||||||||||||||||||||||||||||
The tables below present a summary of the post-modification balance of loans restructured during the years ended December 31, 2013, 2012, and 2011, which represent TDRs: | |||||||||||||||||||||||||||||||||||||||||||
Year ended | Total (1)(2) | Extension at | Reduction of | Modification to | Forgiveness of Debt (2) | ||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Below Market | Interest Rate (2) | Interest-only | ||||||||||||||||||||||||||||||||||||||||
Terms (2) | Payments (2) | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 708 | 5 | $ | 573 | 4 | $ | 553 | 2 | $ | 185 | — | $ | — | ||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Commercial construction | 3 | 6,120 | 3 | 6,120 | — | — | 3 | 6,120 | — | — | |||||||||||||||||||||||||||||||||
Land | 3 | 2,639 | 3 | 2,639 | 2 | 287 | — | — | 1 | 73 | |||||||||||||||||||||||||||||||||
Office | 4 | 4,021 | 4 | 4,021 | 1 | 556 | — | — | — | — | |||||||||||||||||||||||||||||||||
Industrial | 1 | 949 | 1 | 949 | 1 | 949 | — | — | — | — | |||||||||||||||||||||||||||||||||
Retail | 1 | 200 | 1 | 200 | 1 | 200 | — | — | — | — | |||||||||||||||||||||||||||||||||
Multi-family | 1 | 705 | 1 | 705 | 1 | 705 | — | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use and other | 6 | 5,042 | 6 | 5,042 | 5 | 4,947 | 1 | 932 | — | — | |||||||||||||||||||||||||||||||||
Residential real estate and other | 10 | 2,296 | 6 | 1,613 | 7 | 931 | 2 | 234 | 1 | 1,000 | |||||||||||||||||||||||||||||||||
Total loans | 35 | $ | 22,680 | 30 | $ | 21,862 | 22 | $ | 9,128 | 8 | $ | 7,471 | 2 | $ | 1,073 | ||||||||||||||||||||||||||||
Year ended | Total (1)(2) | Extension at | Reduction of | Modification to | Forgiveness of Debt (2) | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Below Market | Interest Rate (2) | Interest-only | ||||||||||||||||||||||||||||||||||||||||
Terms (2) | Payments (2) | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 18 | $ | 14,311 | 11 | $ | 3,603 | 11 | $ | 13,691 | 7 | $ | 10,579 | 3 | $ | 2,311 | ||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 3 | 2,147 | 3 | 2,147 | 1 | 496 | 1 | 496 | — | — | |||||||||||||||||||||||||||||||||
Commercial construction | 2 | 622 | 2 | 622 | 2 | 622 | 2 | 622 | — | — | |||||||||||||||||||||||||||||||||
Land | 17 | 31,836 | 17 | 31,836 | 14 | 30,561 | 13 | 26,511 | — | — | |||||||||||||||||||||||||||||||||
Office | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Industrial | 1 | 727 | 1 | 727 | 1 | 727 | — | — | — | — | |||||||||||||||||||||||||||||||||
Retail | 8 | 13,518 | 8 | 13,518 | 6 | 8,865 | 6 | 12,897 | — | — | |||||||||||||||||||||||||||||||||
Multi-family | 1 | 380 | — | — | 1 | 380 | 1 | 380 | — | — | |||||||||||||||||||||||||||||||||
Mixed use and other | 15 | 7,333 | 9 | 4,769 | 11 | 6,268 | 8 | 3,974 | — | — | |||||||||||||||||||||||||||||||||
Residential real estate and other | 10 | 1,638 | 8 | 1,390 | 6 | 631 | 3 | 924 | 1 | 29 | |||||||||||||||||||||||||||||||||
Total loans | 75 | $ | 72,512 | 59 | $ | 58,612 | 53 | $ | 62,241 | 41 | $ | 56,383 | 4 | $ | 2,340 | ||||||||||||||||||||||||||||
Year ended | Total (1)(2) | Extension at | Reduction of | Modification to | Forgiveness of Debt (2) | ||||||||||||||||||||||||||||||||||||||
December 31, 2011 | Below Market | Interest Rate (2) | Interest-only | ||||||||||||||||||||||||||||||||||||||||
Terms (2) | Payments (2) | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 24 | $ | 6,956 | 11 | $ | 2,273 | 14 | $ | 1,933 | 13 | $ | 3,780 | 2 | $ | 135 | ||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 1 | 1,105 | 1 | 1,105 | — | — | 1 | 1,105 | — | — | |||||||||||||||||||||||||||||||||
Commercial construction | 8 | 12,140 | 7 | 11,673 | 3 | 9,402 | 1 | 467 | — | — | |||||||||||||||||||||||||||||||||
Land | 7 | 7,971 | 7 | 7,971 | 2 | 2,981 | — | — | — | — | |||||||||||||||||||||||||||||||||
Office | 9 | 8,870 | 6 | 4,780 | 6 | 4,036 | 3 | 4,292 | — | — | |||||||||||||||||||||||||||||||||
Industrial | 5 | 5,334 | 5 | 5,334 | 4 | 3,494 | 2 | 2,181 | — | — | |||||||||||||||||||||||||||||||||
Retail | 14 | 19,113 | 11 | 16,981 | 5 | 3,963 | 5 | 5,191 | — | — | |||||||||||||||||||||||||||||||||
Multi-family | 6 | 4,415 | 6 | 4,415 | 5 | 3,866 | — | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use and other | 33 | 28,708 | 21 | 14,775 | 28 | 25,921 | 10 | 8,068 | — | — | |||||||||||||||||||||||||||||||||
Residential real estate and other | 16 | 5,916 | 7 | 2,326 | 13 | 5,262 | 4 | 1,390 | — | — | |||||||||||||||||||||||||||||||||
Total loans | 123 | $ | 100,528 | 82 | $ | 71,633 | 80 | $ | 60,858 | 39 | $ | 26,474 | 2 | $ | 135 | ||||||||||||||||||||||||||||
-1 | TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above. | ||||||||||||||||||||||||||||||||||||||||||
-2 | Balances represent the recorded investment in the loan at the time of the restructuring. | ||||||||||||||||||||||||||||||||||||||||||
During the year ended December 31, 2013, $22.7 million, or 35 loans, were determined to be TDRs, compared to $72.5 million, or 75 loans, and $100.5 million, or 123 loans, in the years ended 2012 and 2011, respectively. Of these loans extended at below market terms, the weighted average extension had a term of approximately 18 months in 2013 compared to nine months in 2012 and 11 months in 2011. Further, the weighted average decrease in the stated interest rate for loans with a reduction of interest rate during the period was approximately 184 basis points, 157 basis points and 192 basis points during the years ended December 31, 2013, 2012, and 2011, respectively. Interest-only payment terms were approximately 11 months during the year ended 2013 compared to five months and nine months for the years ended 2012 and 2011, respectively. Additionally, approximately $1.0 million of principal balance was forgiven during 2013, compared to $800,000 and $67,000 forgiven during 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||||||||||||||
The tables below present a summary of all loans restructured in TDRs during the years ended December 31, 2013, 2012, and 2011, and such loans which were in payment default under the restructured terms during the respective periods: | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||
Total (1)(3) | Payments in | Total (1)(3) | Payments in | Total (1)(3) | Payments in | ||||||||||||||||||||||||||||||||||||||
Default (2)(3) | Default (2)(3) | Default (2)(3) | |||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 708 | 1 | $ | 20 | 18 | $ | 14,311 | 4 | $ | 9,925 | 24 | $ | 6,956 | 6 | $ | 1,742 | |||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | — | — | — | — | 3 | 2,147 | — | — | 1 | 1,105 | — | — | |||||||||||||||||||||||||||||||
Commercial construction | 3 | 6,120 | — | — | 2 | 622 | 2 | 622 | 8 | 12,140 | 1 | 467 | |||||||||||||||||||||||||||||||
Land | 3 | 2,639 | 1 | 215 | 17 | 31,836 | 2 | 3,786 | 7 | 7,971 | 2 | 1,667 | |||||||||||||||||||||||||||||||
Office | 4 | 4,021 | 1 | 1,648 | — | — | — | — | 9 | 8,870 | 2 | 2,239 | |||||||||||||||||||||||||||||||
Industrial | 1 | 949 | — | — | 1 | 727 | — | — | 5 | 5,334 | 2 | 3,224 | |||||||||||||||||||||||||||||||
Retail | 1 | 200 | — | — | 8 | 13,518 | 1 | 3,607 | 14 | 19,113 | 2 | 2,694 | |||||||||||||||||||||||||||||||
Multi-family | 1 | 705 | 1 | 705 | 1 | 380 | — | — | 6 | 4,415 | — | — | |||||||||||||||||||||||||||||||
Mixed use and other | 6 | 5,042 | 1 | 95 | 15 | 7,333 | 4 | 1,445 | 33 | 28,708 | 6 | 5,283 | |||||||||||||||||||||||||||||||
Residential real estate and other | 10 | 2,296 | — | — | 10 | 1,638 | 5 | 1,168 | 16 | 5,916 | 4 | 908 | |||||||||||||||||||||||||||||||
Total loans | 35 | $ | 22,680 | 5 | $ | 2,683 | 75 | $ | 72,512 | 18 | $ | 20,553 | 123 | $ | 100,528 | 25 | $ | 18,224 | |||||||||||||||||||||||||
-1 | Total TDRs represent all loans restructured in TDRs during the year indicated. | ||||||||||||||||||||||||||||||||||||||||||
-2 | TDRs considered to be in payment default are over 30 days past-due subsequent to the restructuring. | ||||||||||||||||||||||||||||||||||||||||||
-3 | Balances represent the recorded investment in the loan at the time of the restructuring. |
Loan_Securitization
Loan Securitization | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Transfers and Servicing [Abstract] | ' | ||||||||||||
Loan Securitization | ' | ||||||||||||
Loan Securitization | |||||||||||||
During the third quarter of 2009, the Company entered into a revolving period securitization transaction sponsored by FIFC. In connection with the securitization, premium finance receivables – commercial were transferred to FIFC Premium Funding, LLC (the “securitization entity”). Principal collections on loans in the securitization entity were used to acquire and transfer additional loans into the securitization entity during the stated revolving period. At December 31, 2011, the stated revolving period ended and the majority of collections began accumulating to pay off the issued instruments as scheduled. | |||||||||||||
Instruments issued by the securitization entity included $600 million Class A notes bearing an annual interest rate of one-month LIBOR plus 1.45%. At the time of issuance, the Notes were eligible collateral under the New York Fed's TALF. Class B and Class C notes (“subordinated securities”), which were recorded in the form of zero coupon bonds, were also issued and were retained by the Company. | |||||||||||||
This securitization transaction was accounted for as a secured borrowing and the securitization entity is treated as a consolidated subsidiary of the Company under ASC 810, “Consolidation”. The securitization entity’s receivables underlying third-party investors’ interests were recorded in loans, net of unearned income, excluding covered loans, an allowance for loan losses was established and the related debt issued was reported in secured borrowings—owed to securitization investors. Additionally, the Company’s retained interests in the transaction, principally consisting of subordinated securities, cash collateral, and overcollateralization of loans, constituted intercompany positions, which were eliminated in the preparation of the Company’s Consolidated Statements of Condition. | |||||||||||||
Upon transfer of premium finance receivables – commercial to the securitization entity, the receivables and certain cash flows derived from them became restricted for use in meeting obligations to the securitization entity’s creditors. The securitization entity had ownership of interest-bearing deposit balances that also had restrictions, the amounts of which were reported in interest-bearing deposits with other banks. With the exception of the seller’s interest in the transferred receivables, the Company’s interests in the securitization entity’s assets were generally subordinate to the interests of third-party investors. | |||||||||||||
During 2012, the Company purchased portions of the Notes in the open market in the amount of $239.2 million, effectively reducing the outstanding Notes, on a consolidated basis, to $360.8 million. On August 15, 2012, the securitization entity paid off the $360.8 million of Notes held by third party investors as well as the $239.2 million owed to the Company. Additionally, the Company received payment of $49.6 million related to the subordinated securities held by the Company. As of December 31, 2013, the securitization entity held no assets or borrowings. As of December 31, 2012, the securitization entity held no loans or borrowings but retained approximately $36,000 in unrestricted cash. | |||||||||||||
Mortgage Servicing Rights | |||||||||||||
Following is a summary of the changes in the carrying value of MSRs, accounted for at fair value, for the years ending December 31, 2013, 2012 and 2011: | |||||||||||||
December 31, | December 31, | December 31, | |||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 6,750 | $ | 6,700 | $ | 8,762 | |||||||
Additions from loans sold with servicing retained | 523 | 4,151 | 2,611 | ||||||||||
Estimate of changes in fair value due to: | |||||||||||||
Payoffs and paydowns | (941 | ) | (3,808 | ) | (2,430 | ) | |||||||
Changes in valuation inputs or assumptions | 2,614 | (293 | ) | (2,243 | ) | ||||||||
Fair value at end of year | $ | 8,946 | $ | 6,750 | $ | 6,700 | |||||||
Unpaid principal balance of mortgage loans serviced for others | $ | 961,619 | $ | 1,005,372 | $ | 958,749 | |||||||
The Company recognizes MSR assets upon the sale of residential real estate loans when it retains the obligation to service the loans and the servicing fee is more than adequate compensation. The recognition of MSR assets and subsequent change in fair value are recognized in mortgage banking revenue. MSRs are subject to changes in value from actual and expected prepayment of the underlying loans. The Company does not specifically hedge the value of its MSRs. | |||||||||||||
The Company uses a third party to assist in the valuation of its MSRs. Fair values are determined by using a discounted cash flow model that incorporates the objective characteristics of the portfolio as well as subjective valuation parameters that purchasers of servicing would apply to such portfolios sold into the secondary market. The subjective factors include loan prepayment speeds, interest rates, servicing costs and other economic factors. |
Mortgage_Servicing_Rights
Mortgage Servicing Rights | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosures Pertaining to Servicing Assets and Servicing Liabilities [Abstract] | ' | ||||||||||||
Mortgage Servicing Rights | ' | ||||||||||||
Loan Securitization | |||||||||||||
During the third quarter of 2009, the Company entered into a revolving period securitization transaction sponsored by FIFC. In connection with the securitization, premium finance receivables – commercial were transferred to FIFC Premium Funding, LLC (the “securitization entity”). Principal collections on loans in the securitization entity were used to acquire and transfer additional loans into the securitization entity during the stated revolving period. At December 31, 2011, the stated revolving period ended and the majority of collections began accumulating to pay off the issued instruments as scheduled. | |||||||||||||
Instruments issued by the securitization entity included $600 million Class A notes bearing an annual interest rate of one-month LIBOR plus 1.45%. At the time of issuance, the Notes were eligible collateral under the New York Fed's TALF. Class B and Class C notes (“subordinated securities”), which were recorded in the form of zero coupon bonds, were also issued and were retained by the Company. | |||||||||||||
This securitization transaction was accounted for as a secured borrowing and the securitization entity is treated as a consolidated subsidiary of the Company under ASC 810, “Consolidation”. The securitization entity’s receivables underlying third-party investors’ interests were recorded in loans, net of unearned income, excluding covered loans, an allowance for loan losses was established and the related debt issued was reported in secured borrowings—owed to securitization investors. Additionally, the Company’s retained interests in the transaction, principally consisting of subordinated securities, cash collateral, and overcollateralization of loans, constituted intercompany positions, which were eliminated in the preparation of the Company’s Consolidated Statements of Condition. | |||||||||||||
Upon transfer of premium finance receivables – commercial to the securitization entity, the receivables and certain cash flows derived from them became restricted for use in meeting obligations to the securitization entity’s creditors. The securitization entity had ownership of interest-bearing deposit balances that also had restrictions, the amounts of which were reported in interest-bearing deposits with other banks. With the exception of the seller’s interest in the transferred receivables, the Company’s interests in the securitization entity’s assets were generally subordinate to the interests of third-party investors. | |||||||||||||
During 2012, the Company purchased portions of the Notes in the open market in the amount of $239.2 million, effectively reducing the outstanding Notes, on a consolidated basis, to $360.8 million. On August 15, 2012, the securitization entity paid off the $360.8 million of Notes held by third party investors as well as the $239.2 million owed to the Company. Additionally, the Company received payment of $49.6 million related to the subordinated securities held by the Company. As of December 31, 2013, the securitization entity held no assets or borrowings. As of December 31, 2012, the securitization entity held no loans or borrowings but retained approximately $36,000 in unrestricted cash. | |||||||||||||
Mortgage Servicing Rights | |||||||||||||
Following is a summary of the changes in the carrying value of MSRs, accounted for at fair value, for the years ending December 31, 2013, 2012 and 2011: | |||||||||||||
December 31, | December 31, | December 31, | |||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 6,750 | $ | 6,700 | $ | 8,762 | |||||||
Additions from loans sold with servicing retained | 523 | 4,151 | 2,611 | ||||||||||
Estimate of changes in fair value due to: | |||||||||||||
Payoffs and paydowns | (941 | ) | (3,808 | ) | (2,430 | ) | |||||||
Changes in valuation inputs or assumptions | 2,614 | (293 | ) | (2,243 | ) | ||||||||
Fair value at end of year | $ | 8,946 | $ | 6,750 | $ | 6,700 | |||||||
Unpaid principal balance of mortgage loans serviced for others | $ | 961,619 | $ | 1,005,372 | $ | 958,749 | |||||||
The Company recognizes MSR assets upon the sale of residential real estate loans when it retains the obligation to service the loans and the servicing fee is more than adequate compensation. The recognition of MSR assets and subsequent change in fair value are recognized in mortgage banking revenue. MSRs are subject to changes in value from actual and expected prepayment of the underlying loans. The Company does not specifically hedge the value of its MSRs. | |||||||||||||
The Company uses a third party to assist in the valuation of its MSRs. Fair values are determined by using a discounted cash flow model that incorporates the objective characteristics of the portfolio as well as subjective valuation parameters that purchasers of servicing would apply to such portfolios sold into the secondary market. The subjective factors include loan prepayment speeds, interest rates, servicing costs and other economic factors. |
Business_Combinations
Business Combinations | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Business Combinations | ' | ||||||||||||
Business Combinations | |||||||||||||
Non-FDIC Assisted Bank Acquisitions | |||||||||||||
On October 18, 2013, the Company acquired Diamond. Diamond was the parent company of Diamond Bank, which operated four banking locations in Chicago, Schaumburg, Elmhurst, and Northbrook, Illinois. As part of the transaction, Diamond Bank was merged into North Shore Bank. The Company acquired assets with a fair value of approximately $172.5 million, including approximately $91.7 million of loans, and assumed liabilities with a fair value of approximately $169.1 million, including approximately $140.2 million of deposits. Additionally, the Company recorded goodwill of $8.4 million on the acquisition. | |||||||||||||
On May 1, 2013, the Company acquired FLB. FLB was the parent company of FNBI, which operated seven banking locations in the south and southwest suburbs of Chicago, as well as one location in northwest Indiana. As part of this transaction, FNBI was merged into Old Plank Trail Bank. The Company acquired assets with a fair value of approximately $373.4 million, including approximately $123.0 million of loans, and assumed liabilities with a fair value of approximately $334.7 million, including approximately $331.4 million of deposits. Additionally, the Company recorded goodwill of $14.0 million on the acquisition. | |||||||||||||
On December 12, 2012, the Company acquired HPK. HPK was the parent company of Hyde Park Bank, which operated two banking locations in the Hyde Park neighborhood of Chicago, Illinois. As part of this transaction, Hyde Park Bank was merged into Beverly Bank. The Company acquired assets with a fair value of approximately $371.6 million, including approximately $118.5 million of loans, and assumed liabilities with a fair value of approximately $344.1 million, including approximately $243.8 million of deposits. Additionally, the Company recorded goodwill of $12.6 million on the acquisition. | |||||||||||||
On April 13, 2012, the Company acquired a branch of Suburban located in Orland Park, Illinois. Through this transaction, the Company acquired approximately $52 million of deposits and $3 million of loans. The Company recorded goodwill of $1.5 million on the branch acquisition. | |||||||||||||
On September 30, 2011, the Company acquired ESBI. ESBI was the parent company of Elgin State Bank, which operated three banking locations in Elgin, Illinois. As part of this transaction, Elgin State Bank was merged into St. Charles Bank. The Company acquired assets with a fair value of approximately $263.2 million, including $146.7 million of loans, and assumed liabilities with a fair value of approximately $248.4 million, including $241.1 million of deposits. Additionally, the Company recorded goodwill of $5.0 million on the acquisition. | |||||||||||||
FDIC Assisted Bank Acquisitions | |||||||||||||
In 2010 and 2011, the Company acquired the banking operations, including the acquisition of certain assets and the assumption of liabilities, of six financial institutions in FDIC-assisted transactions. | |||||||||||||
Since January 1, 2012, the Company has acquired the banking operations, including the acquisition of certain assets and the assumption of liabilities, of three financial institutions in FDIC-assisted transactions. The following table presents details related to these three transactions: | |||||||||||||
(Dollars in thousands) | Charter | Second | First United Bank | ||||||||||
National | Federal (1) | ||||||||||||
Date of acquisition | February 10, | July 20, | September 28, | ||||||||||
2012 | 2012 | 2012 | |||||||||||
Fair value of assets acquired, at the acquisition date | $ | 92,355 | $ | 171,625 | $ | 328,408 | |||||||
Fair value of loans acquired, at the acquisition date | 45,555 | — | 77,964 | ||||||||||
Fair value of liabilities assumed, at the acquisition date | 91,570 | 171,582 | 321,734 | ||||||||||
Fair value of reimbursable losses, at the acquisition date(2) | 13,164 | — | 67,190 | ||||||||||
Gain on bargain purchase recognized | 785 | 43 | 6,675 | ||||||||||
-1 | Subsequent to the acquisition of Second Federal, deposits and banking operations were divested to an unaffiliated financial institution. See "Divestiture of Previous FDIC-Assisted Acquisition" below for further discussion. | ||||||||||||
-2 | As no assets subject to loss sharing agreements were acquired in the acquisition of Second Federal, there was no fair value of reimbursable losses. | ||||||||||||
Loans comprise the majority of the assets acquired in nearly all of these FDIC-assisted transactions since 2010, most of which are subject to loss sharing agreements with the FDIC whereby the FDIC has agreed to reimburse the Company for 80% of losses incurred on the purchased loans, OREO, and certain other assets. Additionally, the loss share agreements with the FDIC require the Company to reimburse the FDIC in the event that actual losses on covered assets are lower than the original loss estimates agreed upon with the FDIC with respect of such assets in the loss share agreements. The Company refers to the loans subject to these loss-sharing agreements as “covered loans” and uses the term “covered assets” to refer to covered loans, covered OREO and certain other covered assets. The agreements with the FDIC require that the Company follow certain servicing procedures or risk losing the FDIC reimbursement of covered asset losses. | |||||||||||||
On their respective acquisition dates in 2012, the Company announced that its wholly−owned subsidiary banks, Old Plank Trail Bank, Hinsdale Bank and Barrington Bank, acquired certain assets and liabilities and the banking operations of First United Bank, Second Federal and Charter National, respectively, in FDIC−assisted transactions. The loans covered by the loss sharing agreements are classified and presented as covered loans and the estimated reimbursable losses are recorded as an FDIC indemnification asset in the Consolidated Statements of Condition. The Company recorded the acquired assets and liabilities at their estimated fair values at the acquisition date. The fair value for loans reflected expected credit losses at the acquisition date. Therefore, the Company will only recognize a provision for credit losses and charge-offs on the acquired loans for any further credit deterioration subsequent to the acquisition date. See Note 5 - Allowance for Loan Losses, Allowance for Losses on Lending−Related Commitments and Impaired Loans for further discussion of the allowance on covered loans. | |||||||||||||
The loss share agreements with the FDIC cover realized losses on loans, foreclosed real estate and certain other assets. These loss share assets are measured separately from the loan portfolios because they are not contractually embedded in the loans and are not transferable with the loans should the Company choose to dispose of them. Fair values at the acquisition dates were estimated based on projected cash flows available for loss−share based on the credit adjustments estimated for each loan pool and the loss share percentages. The loss share assets are recorded as FDIC indemnification assets on the Consolidated Statements of Condition. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses will reduce the FDIC indemnification assets. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will also reduce the FDIC indemnification assets. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. Additions to expected losses will require an increase to the allowance for loan losses and a corresponding increase to the FDIC indemnification assets. The corresponding accretion is recorded as a component of non−interest income on the Consolidated Statements of Income. | |||||||||||||
The following table summarizes the activity in the Company’s FDIC indemnification asset during the periods indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||
Balance at beginning of period | $ | 208,160 | $ | 344,251 | |||||||||
Additions from acquisitions | — | 80,354 | |||||||||||
Additions from reimbursable expenses | 13,022 | 21,859 | |||||||||||
Amortization | (7,556 | ) | (7,209 | ) | |||||||||
Changes in expected reimbursements from the FDIC for changes in expected credit losses | (74,511 | ) | (61,406 | ) | |||||||||
Payments received from the FDIC | (53,443 | ) | (169,689 | ) | |||||||||
Balance at end of period | $ | 85,672 | $ | 208,160 | |||||||||
Divestiture of Previous FDIC-Assisted Acquisition | |||||||||||||
On February 1, 2013, the Company completed the divestiture of the deposits and current banking operations of Second Federal to an unaffiliated financial institution. Through this transaction, the Company divested approximately $149 million of related deposits. | |||||||||||||
Specialty Finance Acquisition | |||||||||||||
On June 8, 2012, the Company completed its acquisition of Macquarie Premium Funding Inc., the Canadian insurance premium funding business of Macquarie Group. Through this transaction, the Company acquired approximately $213 million of gross premium finance receivables. The Company recorded goodwill of approximately $21.9 million at the time of the acquisition. | |||||||||||||
Wealth Management Acquisitions | |||||||||||||
On March 30, 2012, CTC acquired the trust operations of Suburban. Through this transaction, CTC acquired trust accounts having assets under administration of approximately $160 million, in addition to land trust accounts. The Company recorded goodwill of $1.8 million on this trust operations acquisition. | |||||||||||||
On July 1, 2011, the Company acquired Great Lakes Advisors, a Chicago-based investment manager with approximately $2.4 billion in assets under management. The Company acquired assets with a fair value of approximately $26.0 million and assumed liabilities with a fair value of approximately $8.8 million. The Company recorded goodwill of $15.7 million on the acquisition. | |||||||||||||
Mortgage Banking Acquisitions | |||||||||||||
On October 1, 2013, the Company acquired certain assets and assumed certain liabilities of the mortgage banking business of Surety of Sherman Oaks, California. Surety had five offices located in southern California which originated approximately$1.0 billion in the twelve months prior to the acquisition date. The Company recorded goodwill of $9.5 million on the acquisition. | |||||||||||||
On April 13, 2011, the Company acquired certain assets and assumed certain liabilities of the mortgage banking business of River City of Bloomington, Minnesota. Licensed to originate loans in five states, and with offices in Minnesota, Nebraska and North Dakota, River City originated nearly $500 million in mortgage loans in 2010. | |||||||||||||
On February 3, 2011, the Company acquired certain assets and assumed certain liabilities of the mortgage banking business of Woodfield of Rolling Meadows, Illinois. With offices in Rolling Meadows, Illinois and Crystal Lake, Illinois, Woodfield originated approximately $180 million in mortgage loans in 2010. | |||||||||||||
Purchased loans with evidence of credit quality deterioration since origination | |||||||||||||
Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date. Expected future cash flows at the purchase date in excess of the fair value of loans are recorded as interest income over the life of the loans if the timing and amount of the future cash flows is reasonably estimable (“accretable yield”). The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference and represents probable losses in the portfolio. | |||||||||||||
In determining the acquisition date fair value of purchased impaired loans, and in subsequent accounting, the Company aggregates these purchased loans into pools of loans by common risk characteristics, such as credit risk rating and loan type. Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. Subsequent decreases to the expected cash flows will result in a provision for loan losses. | |||||||||||||
The Company purchased a portfolio of life insurance premium finance receivables in 2009. These purchased life insurance premium finance receivables are valued on an individual basis with the accretable component being recognized into interest income using the effective yield method over the estimated remaining life of the loans. The non-accretable portion is evaluated each quarter and if the loans’ credit related conditions improve, a portion is transferred to the accretable component and accreted over future periods. In the event a specific loan prepays in whole, any remaining accretable and non-accretable discount is recognized in income immediately. If credit related conditions deteriorate, an allowance related to these loans will be established as part of the provision for credit losses. | |||||||||||||
See Note 4 — Loans, for more information on loans acquired with evidence of credit quality deterioration since origination. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||||||
Goodwill and Other Intangible Assets | |||||||||||||||||||||
A summary of the Company’s goodwill assets by business segment is presented in the following table: | |||||||||||||||||||||
(Dollars in thousands) | January 1, | Goodwill | Impairment | Goodwill Adjustments | December 31, | ||||||||||||||||
2013 | Acquired | Loss | 2013 | ||||||||||||||||||
Community banking | $ | 274,963 | $ | 31,846 | $ | — | $ | (1,496 | ) | $ | 305,313 | ||||||||||
Specialty finance | 38,574 | — | — | (1,204 | ) | 37,370 | |||||||||||||||
Wealth management | 31,864 | — | — | — | 31,864 | ||||||||||||||||
Total | $ | 345,401 | $ | 31,846 | $ | — | $ | (2,700 | ) | $ | 374,547 | ||||||||||
The community banking segment's goodwill increased $31.8 million in 2013 as a result of the acquisitions of FNBI, Surety and Diamond, partially offset by $1.5 million in subsequent purchase adjustments related to the acquisition of Hyde Park Bank. Additionally, the specialty finance segment's goodwill decreased $1.2 million during this same period as a result of subsequent purchase adjustments and foreign currency translation adjustments related to the acquisition of Macquarie Premium Funding Inc. in 2012. | |||||||||||||||||||||
A summary of finite-lived intangible assets as of the dates shown and the expected amortization as of December 31, 2013 is as follows: | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||
Community banking segment: | |||||||||||||||||||||
Core deposit intangibles: | |||||||||||||||||||||
Gross carrying amount | $ | 40,770 | $ | 38,176 | |||||||||||||||||
Accumulated amortization | (29,189 | ) | (25,159 | ) | |||||||||||||||||
Net carrying amount | $ | 11,581 | $ | 13,017 | |||||||||||||||||
Specialty finance segment: | |||||||||||||||||||||
Customer list intangibles: | |||||||||||||||||||||
Gross carrying amount | $ | 1,800 | $ | 1,800 | |||||||||||||||||
Accumulated amortization | (805 | ) | (645 | ) | |||||||||||||||||
Net carrying amount | $ | 995 | $ | 1,155 | |||||||||||||||||
Wealth management segment: | |||||||||||||||||||||
Customer list and other intangibles: | |||||||||||||||||||||
Gross carrying amount | $ | 7,690 | $ | 7,390 | |||||||||||||||||
Accumulated amortization | (1,053 | ) | (615 | ) | |||||||||||||||||
Net carrying amount | $ | 6,637 | $ | 6,775 | |||||||||||||||||
Total other intangible assets, net | $ | 19,213 | $ | 20,947 | |||||||||||||||||
Estimated amortization | |||||||||||||||||||||
Estimated—2014 | $ | 4,369 | |||||||||||||||||||
Estimated—2015 | 2,791 | ||||||||||||||||||||
Estimated—2016 | 2,180 | ||||||||||||||||||||
Estimated—2017 | 1,764 | ||||||||||||||||||||
Estimated—2018 | 1,544 | ||||||||||||||||||||
The increase in core deposit intangibles from 2012 was primarily from the acquisitions of FNBI and Diamond, partially offset by the divestiture of the deposits and current banking locations of Second Federal in 2013. The core deposit intangibles recognized in connection with these acquisitions are being amortized over ten-year periods on an accelerated basis. | |||||||||||||||||||||
The customer list intangibles recognized in connection with the purchase of life insurance premium finance assets in 2009 are being amortized over an 18-year period on an accelerated basis. | |||||||||||||||||||||
The increase in intangibles within the wealth management segment was related to the Company’s acquisition of the trust operations of FNBI during 2013. The customer list intangible recognized in connection with the acquisition is being amortized over a ten-year period on a straight-line basis. | |||||||||||||||||||||
Total amortization expense associated with finite-lived intangibles in 2013, 2012 and 2011 was $4.6 million, $4.3 million and $3.4 million, respectively. |
Premises_and_Equipment_Net
Premises and Equipment, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Premises and Equipment, Net | ' | ||||||||
Premises and Equipment, Net | |||||||||
A summary of premises and equipment at December 31, 2013 and 2012 is as follows: | |||||||||
December 31, | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Land | $ | 116,906 | $ | 105,427 | |||||
Buildings and leasehold improvements | 440,456 | 415,502 | |||||||
Furniture, equipment, and computer software | 144,854 | 134,945 | |||||||
Construction in progress | 17,966 | 10,353 | |||||||
720,182 | 666,227 | ||||||||
Less: Accumulated depreciation and amortization | 188,235 | 165,022 | |||||||
Total premises and equipment, net | $ | 531,947 | $ | 501,205 | |||||
Depreciation and amortization expense related to premises and equipment, totaled $26.0 million in 2013, $23.1 million in 2012 and $19.1 million in 2011. |
Deposits
Deposits | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deposits [Abstract] | ' | ||||||||
Deposits | ' | ||||||||
Deposits | |||||||||
The following is a summary of deposits at December 31, 2013 and 2012: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Balance: | |||||||||
Non-interest bearing | $ | 2,721,771 | $ | 2,396,264 | |||||
NOW | 1,953,882 | 2,022,957 | |||||||
Wealth management deposits | 1,013,850 | 991,902 | |||||||
Money market | 3,359,999 | 2,761,498 | |||||||
Savings | 1,392,575 | 1,275,012 | |||||||
Time certificates of deposit | 4,226,712 | 4,980,911 | |||||||
Total deposits | $ | 14,668,789 | $ | 14,428,544 | |||||
Mix: | |||||||||
Non-interest bearing | 19 | % | 17 | % | |||||
NOW | 13 | 14 | |||||||
Wealth management deposits | 7 | 7 | |||||||
Money market | 23 | 19 | |||||||
Savings | 9 | 9 | |||||||
Time certificates of deposit | 29 | 34 | |||||||
Total deposits | 100 | % | 100 | % | |||||
Wealth management deposits represent deposit balances (primarily money market accounts) at the Company’s subsidiary banks from brokerage customers of WHI, trust and asset management customers of CTC and brokerage customers from unaffiliated companies. | |||||||||
The scheduled maturities of time certificates of deposit at December 31, 2013 and 2012 are as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Due within one year | $ | 2,640,757 | $ | 3,314,646 | |||||
Due in one to two years | 908,443 | 1,042,769 | |||||||
Due in two to three years | 465,788 | 377,180 | |||||||
Due in three to four years | 131,455 | 135,003 | |||||||
Due in four to five years | 74,647 | 105,944 | |||||||
Due after five years | 5,622 | 5,369 | |||||||
Total time certificate of deposits | $ | 4,226,712 | $ | 4,980,911 | |||||
The following table sets forth the scheduled maturities of time deposits in denominations of $100,000 or more at December 31, 2013 and 2012: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Maturing within three months | $ | 584,948 | $ | 591,901 | |||||
After three but within six months | 395,118 | 719,425 | |||||||
After six but within 12 months | 647,389 | 982,407 | |||||||
After 12 months | 1,088,954 | 1,073,016 | |||||||
Total | $ | 2,716,409 | $ | 3,366,749 | |||||
Notes_Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2013 | |
Notes Payable [Abstract] | ' |
Notes Payable | ' |
Notes Payable | |
At December 31, 2013, the Company had notes payable of $364,000, which represents an unsecured promissory note to a Great Lakes Advisor shareholder ("Unsecured Promissory Note") assumed by the Company as a result of the respective acquisition. Under the Unsecured Promissory Note, the Company will make quarterly principal payments and pay interest at a rate of the federal funds rate plus 100 basis points until its maturity on September 30, 2014. As of December 31, 2013, the current interest rate was 1.25%. At December 31, 2012, this Unsecured Promissory Note had an outstanding balance of $1.1 million. | |
The Company previously had a $101.0 million loan agreement (“Agreement”) with unaffiliated banks. The Agreement consisted of a $100.0 million revolving credit facility, maturing on October 25, 2013, and a $1.0 million term loan maturing on June 1, 2015. The Agreement was amended in 2013, effectively extending the maturity date on the revolving credit facility from October 25, 2013 to November 6, 2014. Additionally, the Company repaid and terminated its $1.0 million term loan at that time. At December 31, 2013, no amount was outstanding on the $100.0 million revolving credit facility. Borrowings under the Agreement that are considered “Base Rate Loans” will bear interest at a rate equal to the higher of (1) 350 basis points and (2) for the applicable period, the highest of (a) the federal funds rate plus 100 basis points, (b) the lender’s prime rate plus 50 basis points, and (c) the Eurodollar Rate (as defined below) that would be applicable for an interest period of one month plus 150 basis points. Borrowings under the Agreement that are considered “Eurodollar Rate Loans” will bear interest at a rate equal to the higher of (1) the British Bankers Association’s LIBOR rate for the applicable period plus 250 basis points (the “Eurodollar Rate”) and (2) 350 basis points. A commitment fee is payable quarterly equal to 0.375% of the actual daily amount by which the lenders’ commitment under the revolving note exceeded the amount outstanding under such facility. | |
Borrowings under the Agreement are secured by the stock of some of the banks and contains several restrictive covenants, including the maintenance of various capital adequacy levels, asset quality and profitability ratios, and certain restrictions on dividends and other indebtedness. At December 31, 2013, the Company was in compliance with all debt covenants. The credit facility is available to be utilized, as needed, to provide capital to fund continued growth at the Company’s banks and to serve as an interim source of funds for acquisitions, common stock repurchases or other general corporate purposes. |
Federal_Home_Loan_Bank_Advance
Federal Home Loan Bank Advances | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Advances from Federal Home Loan Banks [Abstract] | ' | ||||||||
Federal Home Loan Bank Advances | ' | ||||||||
Federal Home Loan Bank Advances | |||||||||
A summary of the outstanding FHLB advances at December 31, 2013 and 2012, is as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
1.45% advance due July 2013 | — | 26,000 | |||||||
0.13% advance due January 2014 | 30,000 | — | |||||||
1.94% advance due July 2014 | 10,000 | 10,000 | |||||||
1.58% advance due September 2014 | 25,127 | 25,300 | |||||||
1.63% advance due September 2014 | 25,135 | 25,322 | |||||||
0.72% advance due February 2015 | 141,000 | 141,000 | |||||||
0.73% advance due February 2015 | 5,000 | 5,000 | |||||||
0.99% advance due February 2016 | 26,500 | 26,500 | |||||||
1.25% advance due February 2017 | 25,000 | 25,000 | |||||||
3.47% advance due November 2017 | 10,000 | 10,000 | |||||||
1.49% advance due February 2018 | 95,000 | 95,000 | |||||||
4.18% advance due February 2022 | 25,000 | 25,000 | |||||||
Total Federal Home Loan Bank advances | $ | 417,762 | $ | 414,122 | |||||
Federal Home Loan Bank advances consist of obligations of the banks and are collateralized by qualifying residential real estate and home equity loans and certain securities. FHLB advances are stated at par value of the debt adjusted for unamortized fair value adjustments recorded in connection with advances acquired through acquisitions. In order to achieve lower interest rates and to extend maturities, the Company restructured $292.5 million of FHLB advances in 2012, paying $22.4 million in prepayment fees. The Company did not restructure any FHLB advances in 2013. These prepayment fees are classified in other assets on the Consolidated Statements of Condition and are amortized as an adjustment to interest expense using the effective interest method. | |||||||||
Approximately $35.0 million of the FHLB advances outstanding at December 31, 2013, have varying put dates in February 2014. At December 31, 2013, the weighted average contractual interest rate on FHLB advances was 1.31% and the weighted average effective interest rate, which reflects amortization of fair value adjustments associated with FHLB advances acquired through acquisitions, was 1.22%. | |||||||||
The banks have arrangements with the FHLB whereby, based on available collateral, they could have borrowed an additional $771.1 million at December 31, 2013. |
Subordinated_Notes
Subordinated Notes | 12 Months Ended |
Dec. 31, 2013 | |
Subordinated Borrowings [Abstract] | ' |
Subordinated Notes | ' |
Subordinated Notes | |
At December 31, 2013, the Company had no outstanding subordinated notes. At December 31, 2012, the Company had an obligation for one note issued in October 2005 with a remaining balance of $15.0 million and a maturity in May 2015. In November 2013, this note was paid-off prior to maturity with a remaining balance of $10.0 million at that time. During 2012, two subordinated notes issued in October 2002 and April 2003 with remaining balances of $5.0 million and $10.0 million, respectively, were paid-off prior to maturity. | |
The interest rate on each subordinated note was calculated at a rate equal to LIBOR plus 130 basis points. At December 31, 2012, the weighted average contractual interest rate on the subordinated notes was 1.61%. In connection with the issuances of subordinated notes, the Company incurred costs totaling $1.0 million. These costs were included in other assets and were amortized to interest expense using a method that approximates the effective interest method. At December 31, 2013 the balances of these costs were fully amortized. At December 31, 2012, the unamortized balances of these costs were approximately $3,000. These subordinated notes qualified as Tier II capital under the regulatory capital requirements, subject to restrictions. |
Other_Borrowings
Other Borrowings | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Borrowings [Abstract] | ' | ||||||||
Other Borrowings | ' | ||||||||
Other Borrowings | |||||||||
The following is a summary of other borrowings at December 31, 2013 and 2012: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Securities sold under repurchase agreements | $ | 235,347 | $ | 238,401 | |||||
Other | 19,393 | 36,010 | |||||||
Secured borrowings — owed to securitization investors | — | — | |||||||
Total other borrowings | $ | 254,740 | $ | 274,411 | |||||
Securities sold under repurchase agreements represent $55.3 million and $55.0 million of customer sweep accounts in connection with master repurchase agreements at the banks at December 31, 2013 and 2012, respectively, as well as $180.0 million and $183.4 million of short-term borrowings from banks and brokers at December 31, 2013 and 2012, respectively. The Company records securities sold under repurchase agreements at their gross value and does not offset positions on the Consolidated Statements of Condition. As of December 31, 2013, the Company had pledged securities related to its customer balances in sweep accounts and short-term borrowing from brokers of $60.0 million and $191.3 million, respectively, which exceed the outstanding borrowings resulting in no net credit exposure. Securities pledged for customer balances in sweep accounts are maintained under the Company’s control and consist of U.S. Government agency, mortgage-backed and corporate securities. These securities are included in the available-for-sale securities portfolio as reflected on the Company’s Consolidated Statements of Condition. | |||||||||
Other borrowings at December 31, 2013 primarily represent a fixed-rate promissory note issued by the Company in August 2012 ("Fixed-rate Promissory Note") related to and secured by an office building owned by the Company. At December 31, 2013, the Fixed-rate Promissory Note had an outstanding balance of $19.3 million. Under the Fixed-rate Promissory Note, the Company will make monthly principal payments and pay interest at a fixed rate of 3.75% until maturity on September 1, 2017. | |||||||||
Junior subordinated amortizing notes issued by the Company in connection with the issuance of the TEU's in December 2010 were paid off in 2013. At issuance, the junior subordinated notes were recorded at their initial principal balance of $44.7 million, net of issuance costs. These notes had a stated interest rate of 9.5% and required quarterly principal and interest payments of $4.3 million, with an initial payment of $4.6 million that was paid on March 15, 2011. The issuance costs were being amortized to interest expense using the effective-interest method. The final installment payment on the notes was made as scheduled on December 15, 2013. See Note 24 — Shareholders’ Equity for further discussion of the TEUs. | |||||||||
During the third quarter of 2009, the Company entered into an off-balance sheet securitization transaction sponsored by FIFC. In connection with the securitization, premium finance receivables — commercial were transferred to FIFC Premium Funding, LLC, a QSPE. The QSPE issued $600 million Class A notes, which were reflected on the Company's Consolidated Statements of Condition as secured borrowings owed to securitization investors, that had an annual interest rate of one-month LIBOR plus 1.45%. At the time of issuance, the Notes were eligible collateral under TALF. During 2012, the Company purchased $239.2 million of the Notes in the open market effectively defeasing a portion of the Notes. During the third quarter of 2012, the Company completely paid the remaining portion of these Notes. See Note 6 — Loan Securitization, for more information on the QSPE. |
Junior_Subordinated_Debentures
Junior Subordinated Debentures | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust [Abstract] | ' | |||||||||||||||||||||||||||
Junior Subordinated Debentures | ' | |||||||||||||||||||||||||||
Junior Subordinated Debentures | ||||||||||||||||||||||||||||
As of December 31, 2013, the Company owned 100% of the common securities of nine trusts, Wintrust Capital Trust III, Wintrust Statutory Trust IV, Wintrust Statutory Trust V, Wintrust Capital Trust VII, Wintrust Capital Trust VIII, Wintrust Capital Trust IX, Northview Capital Trust I, Town Bankshares Capital Trust I, and First Northwest Capital Trust I (the “Trusts”) set up to provide long- term financing. The Northview, Town and First Northwest capital trusts were acquired as part of the acquisitions of Northview Financial Corporation, Town Bankshares, Ltd., and First Northwest Bancorp, Inc., respectively. The Trusts were formed for purposes of issuing trust preferred securities to third-party investors and investing the proceeds from the issuance of the trust preferred securities and common securities solely in junior subordinated debentures issued by the Company (or assumed by the Company in connection with an acquisition), with the same maturities and interest rates as the trust preferred securities. The junior subordinated debentures are the sole assets of each of the Trusts. In each Trust, the common securities represent approximately 3% of the junior subordinated debentures and the trust preferred securities represent approximately 97% of the junior subordinated debentures. | ||||||||||||||||||||||||||||
The Trusts are reported in the Company’s consolidated financial statements as unconsolidated subsidiaries. Accordingly, in the Consolidated Statements of Condition, the junior subordinated debentures issued by the Company to the Trusts are reported as liabilities and the common securities of the Trusts, all of which are owned by the Company, are included in available-for-sale securities. | ||||||||||||||||||||||||||||
The following table provides a summary of the Company’s junior subordinated debentures as of December 31, 2013 and 2012. The junior subordinated debentures represent the par value of the obligations owed to the Trusts. | ||||||||||||||||||||||||||||
Common Securities | Trust Preferred Securities | Junior | Rate Structure | Contractual rate at 12/31/2013 | Maturity Date | Earliest Redemption Date | ||||||||||||||||||||||
Subordinated | ||||||||||||||||||||||||||||
Debentures | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | Issue Date | |||||||||||||||||||||||||
Wintrust Capital Trust III | $ | 774 | $ | 25,000 | $ | 25,774 | $ | 25,774 | L+3.25 | 3.49 | % | Apr-03 | Apr-33 | Apr-08 | ||||||||||||||
Wintrust Statutory Trust IV | 619 | 20,000 | 20,619 | 20,619 | L+2.80 | 3.05 | % | Dec-03 | Dec-33 | Dec-08 | ||||||||||||||||||
Wintrust Statutory Trust V | 1,238 | 40,000 | 41,238 | 41,238 | L+2.60 | 2.85 | % | May-04 | May-34 | Jun-09 | ||||||||||||||||||
Wintrust Capital Trust VII | 1,550 | 50,000 | 51,550 | 51,550 | L+1.95 | 2.19 | % | Dec-04 | Mar-35 | Mar-10 | ||||||||||||||||||
Wintrust Capital Trust VIII | 1,238 | 40,000 | 41,238 | 41,238 | L+1.45 | 1.7 | % | Aug-05 | Sep-35 | Sep-10 | ||||||||||||||||||
Wintrust Capital Trust IX | 1,547 | 50,000 | 51,547 | 51,547 | L+1.63 | 1.87 | % | Sep-06 | Sep-36 | Sep-11 | ||||||||||||||||||
Northview Capital Trust I | 186 | 6,000 | 6,186 | 6,186 | L+3.00 | 3.24 | % | Aug-03 | Nov-33 | Aug-08 | ||||||||||||||||||
Town Bankshares Capital Trust I | 186 | 6,000 | 6,186 | 6,186 | L+3.00 | 3.24 | % | Aug-03 | Nov-33 | Aug-08 | ||||||||||||||||||
First Northwest Capital Trust I | 155 | 5,000 | 5,155 | 5,155 | L+3.00 | 3.25 | % | May-04 | May-34 | May-09 | ||||||||||||||||||
Total | $ | 249,493 | $ | 249,493 | 2.43 | % | ||||||||||||||||||||||
The junior subordinated debentures totaled $249.5 million at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
The interest rates on the variable rate junior subordinated debentures are based on the three-month LIBOR rate and reset on a quarterly basis. The interest rate on the Wintrust Capital Trust IX junior subordinated debentures, previously fixed at 6.84%, changed to a variable rate equal to three-month LIBOR plus 1.63% effective September 15, 2011. At December 31, 2013, the weighted average contractual interest rate on the junior subordinated debentures was 2.43%. The Company entered into interest rate swaps and caps with an aggregate notional value of $225 million to hedge the variable cash flows on certain junior subordinated debentures. Two of these interest rate caps, which were purchased in the second quarter of 2013 with an aggregate notional amount of $90 million, replaced two interest swaps that matured in September 2013. The hedge-adjusted rate on the junior subordinated debentures as of December 31, 2013, was 3.21%. Distributions on the common and preferred securities issued by the Trusts are payable quarterly at a rate per annum equal to the interest rates being earned by the Trusts on the junior subordinated debentures. Interest expense on the junior subordinated debentures is deductible for income tax purposes. | ||||||||||||||||||||||||||||
The Company has guaranteed the payment of distributions and payments upon liquidation or redemption of the trust preferred securities, in each case to the extent of funds held by the Trusts. The Company and the Trusts believe that, taken together, the obligations of the Company under the guarantees, the junior subordinated debentures, and other related agreements provide, in the aggregate, a full, irrevocable and unconditional guarantee, on a subordinated basis, of all of the obligations of the Trusts under the trust preferred securities. Subject to certain limitations, the Company has the right to defer the payment of interest on the junior subordinated debentures at any time, or from time to time, for a period not to exceed 20 consecutive quarters. The trust preferred securities are subject to mandatory redemption, in whole or in part, upon repayment of the junior subordinated debentures at maturity or their earlier redemption. The junior subordinated debentures are redeemable in whole or in part prior to maturity at any time after the earliest redemption dates shown in the table, and earlier at the discretion of the Company if certain conditions are met, and, in any event, only after the Company has obtained Federal Reserve approval, if then required under applicable guidelines or regulations. | ||||||||||||||||||||||||||||
The junior subordinated debentures, subject to certain limitations, qualify as Tier 1 capital of the Company for regulatory purposes. The amount of junior subordinated debentures and certain other capital elements in excess of those certain limitations could be included in Tier 2 capital, subject to restrictions. At December 31, 2013, all of the junior subordinated debentures, net of the Common Securities, were included in the Company’s Tier 1 regulatory capital. |
Minimum_Lease_Commitments
Minimum Lease Commitments | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Minimum Lease Commitments | ' | ||||||||
Minimum Lease Commitments | |||||||||
The Company occupies certain facilities under operating lease agreements. Gross rental expense related to the Company’s operating leases was $9.1 million in 2013 and $7.9 million in 2012 and 2011. The Company also leases certain owned premises and receives rental income from such lease agreements. Gross rental income related to the Company’s buildings totaled $7.0 million, $4.7 million and $3.8 million, in 2013, 2012 and 2011, respectively. The approximate minimum annual gross rental payments and gross rental income under noncancelable agreements for office space with remaining terms in excess of one year as of December 31, 2013, are as follows (in thousands): | |||||||||
Payments | Income | ||||||||
2014 | $ | 5,112 | $ | 5,089 | |||||
2015 | 5,180 | 4,941 | |||||||
2016 | 4,852 | 4,248 | |||||||
2017 | 4,343 | 3,636 | |||||||
2018 | 3,693 | 3,025 | |||||||
2019 and thereafter | 9,851 | 4,330 | |||||||
Total minimum future amounts | $ | 33,031 | $ | 25,269 | |||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
Income tax expense (benefit) for the years ended December 31, 2013, 2012 and 2011 is summarized as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Current income taxes: | |||||||||||||
Federal | $ | 67,449 | $ | 74,109 | $ | 40,312 | |||||||
State | 16,046 | 16,224 | 10,785 | ||||||||||
Foreign | 2,196 | 1,918 | — | ||||||||||
Total current income taxes | $ | 85,691 | $ | 92,251 | $ | 51,097 | |||||||
Deferred income taxes: | |||||||||||||
Federal | 1,813 | (19,550 | ) | (555 | ) | ||||||||
State | (114 | ) | (4,206 | ) | (84 | ) | |||||||
Foreign | (160 | ) | 441 | — | |||||||||
Total deferred income taxes | 1,539 | (23,315 | ) | (639 | ) | ||||||||
Total income tax expense | $ | 87,230 | $ | 68,936 | $ | 50,458 | |||||||
The tax effect of fair value adjustments on securities available-for-sale and derivative instruments in cash flow hedges are recorded directly to shareholders' equity as part of other comprehensive income (loss). In addition, tax expense (benefit) of $831,000, ($1.4 million) and ($129,000) in 2013, 2012 and 2011, respectively, related to the exercise and expiration of certain stock options and vesting and issuance of restricted shares pursuant to the Stock Incentive Plans and the issuance of shares pursuant to the Directors Deferred Fee and Stock Plan, were recorded directly to shareholders’ equity. | |||||||||||||
A reconciliation of the differences between taxes computed using the statutory Federal income tax rate of 35% and actual income tax expense is as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income tax expense based upon the Federal statutory rate on income before income taxes | $ | 78,554 | $ | 63,046 | $ | 44,812 | |||||||
Increase (decrease) in tax resulting from: | |||||||||||||
Tax-exempt interest, net of interest expense disallowance | (1,423 | ) | (1,294 | ) | (1,139 | ) | |||||||
State taxes, net of federal tax benefit | 10,355 | 7,811 | 6,955 | ||||||||||
Income earned on bank owned life insurance | (1,157 | ) | (974 | ) | (854 | ) | |||||||
Non-deductible compensation costs | 654 | 1,156 | 644 | ||||||||||
Meals, entertainment and related expenses | 993 | 931 | 802 | ||||||||||
Foreign subsidiary, net | 588 | 1,991 | — | ||||||||||
Foreign tax credits | — | (2,177 | ) | — | |||||||||
Tax credits, excluding foreign tax credits | (1,553 | ) | (1,906 | ) | (562 | ) | |||||||
Other, net | 219 | 352 | (200 | ) | |||||||||
Income tax expense | $ | 87,230 | $ | 68,936 | $ | 50,458 | |||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2013 and 2012 are as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for credit losses | $ | 37,525 | $ | 42,480 | |||||||||
Net unrealized losses on derivatives included in other comprehensive income | 1,574 | 3,442 | |||||||||||
Net unrealized losses on securities included in other comprehensive income | 35,216 | — | |||||||||||
Deferred compensation | 16,089 | 7,453 | |||||||||||
Stock-based compensation | 10,340 | 11,333 | |||||||||||
Nonaccrued interest | 1,895 | 3,053 | |||||||||||
Other real estate owned | 6,405 | 9,193 | |||||||||||
Mortgage banking recourse obligation | 1,503 | 1,706 | |||||||||||
Covered assets | 13,616 | 7,527 | |||||||||||
Pension plan liabilities | 1,035 | 916 | |||||||||||
Federal net operating loss carryforward | 2,452 | — | |||||||||||
AMT credit carryforward | 1,346 | 345 | |||||||||||
State tax losses carryforward | 3,294 | 130 | |||||||||||
Foreign tax credit carryforward | — | 1,042 | |||||||||||
Other | 2,149 | 2,072 | |||||||||||
Total gross deferred tax assets | 134,439 | 90,692 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Discount on purchased loans | 5,718 | 27,458 | |||||||||||
Premises and equipment | 36,847 | 29,725 | |||||||||||
Goodwill and intangible assets | 1,683 | 338 | |||||||||||
Deferred loan fees and costs | 4,533 | 4,487 | |||||||||||
FHLB stock dividends | 1,431 | 1,610 | |||||||||||
Capitalized servicing rights | 3,547 | 2,670 | |||||||||||
Net unrealized gains on securities included in other comprehensive income | — | 4,336 | |||||||||||
Fair value adjustments on loans | 6,947 | 6,634 | |||||||||||
Other | 3,606 | 2,680 | |||||||||||
Total gross deferred liabilities | 64,312 | 79,938 | |||||||||||
Valuation allowance | — | 1,042 | |||||||||||
Net deferred tax assets | $ | 70,127 | $ | 9,712 | |||||||||
In 2013, a tax law change related to active financing was enacted and made retro-active to 2012. As a result, the deferred tax asset for foreign tax credit carryforwards and related valuation allowance which were established in 2012, were reversed and recognized through other comprehensive income. Management has determined that a valuation allowance is not required for the deferred tax assets at December 31, 2013 because it is more likely than not that these assets could be realized through carry back to taxable income in prior years, future reversals of existing taxable temporary differences and future taxable income. This conclusion is based on the Company's historical earnings, its current level of earnings and prospects for continued growth and profitability. | |||||||||||||
The Company has an AMT credit carryforward of $1.3 million which has no expiration date and a Federal NOL carryforward of $7.0 million that begins to expire in 2029 and is subject to Internal Revenue Code Section 382 annual limitation. Management believes it is more likely than not it will be able to fully utilize the Federal NOL in future tax years. In addition, the Company has an Illinois net loss deduction carryforward of $53.3 million. The Illinois net loss deduction begins to expire in 2017 and is not subject to any annual limitation. Management believes that it is more likely than not it will be able to fully utilize the Illinois net loss deduction under the current Illinois state tax laws. These credit and loss carryforwards were a result of acquisitions made in 2012 and 2013. | |||||||||||||
The Company is required to record a liability (or a reduction of an asset) for the uncertainty associated with certain tax positions. This liability, if any, reflects the fact that the Company has not recognized the benefit associated with the tax position. The Company had no unrecognized tax benefits at December 31, 2012 and it did not have increases or decreases in unrecognized tax benefits during 2013 and does not have any tax positions for which unrecognized tax benefits must be recorded at December 31, 2013. In addition, for the year ended December 31, 2013, the Company has no interest or penalties relating to income tax positions recognized in the income statement or in the balance sheet. If the Company were to record interest and penalties associated with uncertain tax positions or as a result of an audit by a tax jurisdiction, the interest and penalties would be included in income tax expense. The Company does not believe it is reasonably possible that unrecognized tax benefits will significantly change in the next 12 months. | |||||||||||||
The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in numerous state jurisdictions and in Canada. In the ordinary course of business we are routinely subject to audit by the taxing authorities of these jurisdictions. Currently, the Company's federal income tax returns are open and subject to audit for the 2010 tax return year forward, and in general, the Company's state income tax returns are open and subject to audit from the 2010 tax return year forward, subject to individual state statutes of limitation. |
Stock_Compensation_Plans_and_O
Stock Compensation Plans and Other Employee Benefit Plans | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||||||||
Stock Compensation Plans and Other Employee Benefit Plans | ' | |||||||||||||||||||||
Stock Compensation Plans and Other Employee Benefit Plans | ||||||||||||||||||||||
Stock Incentive Plan | ||||||||||||||||||||||
The 2007 Stock Incentive Plan (“the 2007 Plan”), which was approved by the Company’s shareholders in January 2007, permits the grant of incentive stock options, nonqualified stock options, rights and restricted stock, as well as the conversion of outstanding options of acquired companies to Wintrust options. The 2007 Plan initially provided for the issuance of up to 500,000 shares of common stock. In May 2009 and May 2011, the Company’s shareholders approved an additional 325,000 shares and 2,860,000 shares, respectively, of common stock that may be offered under the 2007 Plan. All grants made after 2006 have been made pursuant to the 2007 Plan, and as of December 31, 2013, 752,491 shares were available for future grants (assuming the maximum number of shares are issued in the performance awards outstanding). The 2007 Plan replaced the Wintrust Financial Corporation 1997 Stock Incentive Plan (“the 1997 Plan”) which had substantially similar terms. The 2007 Plan and the 1997 Plan are collectively referred to as “the Plans.” The Plans cover substantially all employees of Wintrust. The Compensation Committee of the Board of Directors administers all stock-based compensation programs and authorizes all awards granted pursuant to the Plans. | ||||||||||||||||||||||
The Company historically awarded stock-based compensation in the form of nonqualified stock options and time-vested restricted share awards (“restricted shares”). In general, the grants of options provide for the purchase shares of Wintrust’s common stock at the fair market value of the stock on the date the options are granted. Options under the 2007 Plan generally vest ratably over periods of three to five years and have a maximum term of seven years from the date of grant. Stock options granted under the 1997 Plan provided for a maximum term of 10 years. Restricted shares entitle the holders to receive, at no cost, shares of the Company’s common stock. Restricted shares generally vest over periods of one to five years from the date of grant. | ||||||||||||||||||||||
The Long-Term Incentive Program (“LTIP”) is designed in part to align the interests of management with the interests of shareholders, foster retention, create a long-term focus based on sustainable results and provide participants a target long-term incentive opportunity. It is administered under the 2007 Plan. Grants have been made pursuant to the LTIP annually since 2011, and it is anticipated that LTIP awards will continue to be granted annually. LTIP grants to date have consisted of time-vested stock options and performance-based stock and cash awards that are contingent upon the achievement of pre-established long-term performance goals set in advance by the Compensation Committee over a three-year period, with overlapping performance periods starting at the beginning of each calendar year. Stock options granted under the LTIP have a term of seven years and vest equally over three years based on continued service. The actual performance-based stock and performance-based cash award payouts will vary based on the achievement of the pre-established targets at the end of the performance period and can range from 0% to 200% of the target award. | ||||||||||||||||||||||
Holders of restricted share awards and performance-based stock awards received under the Plans are not entitled to vote or receive cash dividends (or cash payments equal to the cash dividends) on the underlying common shares until the awards are vested. Except in limited circumstances, these awards are canceled upon termination of employment without any payment of consideration by the Company. | ||||||||||||||||||||||
Stock-based compensation is measured as the fair value of an award on the date of grant, and the measured cost is recognized over the period which the recipient is required to provide service in exchange for the award. The fair values of restricted shares and performance-based stock awards are determined based on the average of the high and low trading prices on the grant date, and the fair value of stock options is estimated using a Black-Scholes option-pricing model that utilizes the assumptions outlined in the following table. Option-pricing models require the input of highly subjective assumptions and are sensitive to changes in the option’s expected life and the price volatility of the underlying stock, which can materially affect the fair value estimate. Options granted in 2011, 2012 and 2013, were primarily granted as LTIP awards. The expected life of the options granted pursuant to the LTIP awards is based on the safe harbor rule of the SEC Staff Accounting Bulletin No. 107 “Share-Based Payment” as the Company believes historical exercise data may not provide a reasonable basis to estimate the expected term of these options. Expected stock price volatility is based on historical volatility of the Company’s common stock, which correlates with the expected life of the options, and the risk-free interest rate is based on comparable U.S. Treasury rates. Management reviews and adjusts the assumptions used to calculate the fair value of an option on a periodic basis to better reflect expected trends. | ||||||||||||||||||||||
The following table presents the weighted average assumptions used to determine the fair value of options granted in the years ending December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Expected dividend yield | 0.5 | % | 0.6 | % | 0.5 | % | ||||||||||||||||
Expected volatility | 59 | % | 62.6 | % | 61.8 | % | ||||||||||||||||
Risk-free rate | 1 | % | 0.7 | % | 1 | % | ||||||||||||||||
Expected option life (in years) | 4.5 | 4.5 | 4.4 | |||||||||||||||||||
Stock based compensation is recognized based on the number of awards that are ultimately expected to vest. Forfeitures are estimated based on historical forfeiture experience. For performance-based stock awards, an estimate is made of the number of shares expected to vest as a result of actual performance against the performance criteria to determine the amount of compensation expense to be recognized. The estimate is reevaluated quarterly and total compensation expense is adjusted for any change in the current period. | ||||||||||||||||||||||
Stock-based compensation expense recognized in the Consolidated Statements of Income was $6.7 million, $9.1 million and $5.6 million and the related tax benefits were $2.5 million, $3.3 million and $1.8 million in 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||
A summary of the Plans’ stock option activity for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||||||||||||
Stock Options | Common | Weighted Average | Remaining | Intrinsic Value(2) | ||||||||||||||||||
Shares | Strike Price | Contractual Term(1) | $0 | |||||||||||||||||||
Outstanding at January 1, 2011 | 2,040,701 | $ | 38.92 | |||||||||||||||||||
Granted | 221,003 | 33.15 | ||||||||||||||||||||
Exercised | (85,706 | ) | 17.2 | |||||||||||||||||||
Forfeited or canceled | (111,464 | ) | 46.01 | |||||||||||||||||||
Outstanding at December 31, 2011 | 2,064,534 | $ | 38.83 | 2.7 | $ | 3,809 | ||||||||||||||||
Exercisable at December 31, 2011 | 1,779,218 | $ | 39.93 | 2.3 | $ | 3,558 | ||||||||||||||||
Outstanding at January 1, 2012 | 2,064,534 | $ | 38.83 | |||||||||||||||||||
Granted | 250,997 | 31.16 | ||||||||||||||||||||
Exercised | (484,709 | ) | 21.43 | |||||||||||||||||||
Forfeited or canceled | (85,395 | ) | 43.7 | |||||||||||||||||||
Outstanding at December 31, 2012 | 1,745,427 | $ | 42.31 | 3.1 | $ | 3,836 | ||||||||||||||||
Exercisable at December 31, 2012 | 1,346,287 | $ | 45.57 | 2.3 | $ | 1,677 | ||||||||||||||||
Outstanding at January 1, 2013 | 1,745,427 | $ | 42.31 | |||||||||||||||||||
Granted | 236,120 | 38.01 | ||||||||||||||||||||
Exercised | (371,826 | ) | 40.46 | |||||||||||||||||||
Forfeited or canceled | (85,049 | ) | 44.12 | |||||||||||||||||||
Outstanding at December 31, 2013 | 1,524,672 | $ | 42 | 2.6 | $ | 11,021 | ||||||||||||||||
Exercisable at December 31, 2013 | 1,097,836 | $ | 44.82 | 1.5 | $ | 6,165 | ||||||||||||||||
Vested or expected to vest at December 31, 2013 | 1,522,161 | $ | 42.02 | |||||||||||||||||||
-1 | Represents the weighted average contractual remaining life in years. | |||||||||||||||||||||
-2 | Aggregate intrinsic value represents the total pretax intrinsic value (i.e., the difference between the Company’s stock price at year end and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the year. Options with exercise prices above the year end stock price are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company’s stock. | |||||||||||||||||||||
The weighted average per share grant date fair value of options granted during the years ended December 31, 2013, 2012 and 2011 was $17.49, $15.00 and $15.84, respectively. The aggregate intrinsic value of options exercised during the years ended December 31, 2013, 2012 and 2011, was $1.2 million, $5.4 million and $1.2 million, respectively. The actual tax benefit realized for the tax deductions from option exercises totaled $485,000, $2.1 million and $468,000 for 2013, 2012 and 2011, respectively. Cash received from option exercises under the Plans for the years ended December 31, 2013, 2012 and 2011 was $15.0 million, $10.4 million and $1.5 million, respectively. | ||||||||||||||||||||||
A summary of the Plans’ restricted share and performance-based stock award activity for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Restricted Shares | Common | Weighted | Common | Weighted | Common | Weighted | ||||||||||||||||
Shares | Average | Shares | Average | Shares | Average | |||||||||||||||||
Grant-Date | Grant-Date | Grant-Date | ||||||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||
Outstanding at January 1 | 314,226 | $ | 37.99 | 336,709 | $ | 38.29 | 299,040 | $ | 39.44 | |||||||||||||
Granted | 16,932 | 42.14 | 111,207 | 32.37 | 98,394 | 32.85 | ||||||||||||||||
Vested and issued | (144,860 | ) | 31.83 | (132,337 | ) | 34.12 | (56,641 | ) | 35.17 | |||||||||||||
Forfeited | (4,776 | ) | 33.93 | (1,353 | ) | 30.99 | (4,084 | ) | 34.73 | |||||||||||||
Outstanding at end of year | 181,522 | $ | 43.39 | 314,226 | $ | 37.99 | 336,709 | $ | 38.29 | |||||||||||||
Vested, but not issuable at end of year | 85,000 | $ | 51.88 | 85,000 | $ | 51.88 | 85,000 | $ | 51.88 | |||||||||||||
Performance Shares | ||||||||||||||||||||||
Outstanding at January 1 | 153,915 | $ | 31.78 | 72,158 | $ | 33.25 | — | $ | — | |||||||||||||
Granted | 106,268 | 37.9 | 119,476 | 31.1 | 100,993 | 33.25 | ||||||||||||||||
Vested and issued | — | — | — | — | — | — | ||||||||||||||||
Net decrease due to estimated performance | (106,005 | ) | 34.17 | (33,147 | ) | 32.5 | (28,062 | ) | 33.25 | |||||||||||||
Forfeited | (10,322 | ) | 34.19 | (4,572 | ) | 31.98 | (773 | ) | 33.28 | |||||||||||||
Outstanding at end of year | 143,856 | $ | 34.37 | 153,915 | $ | 31.78 | 72,158 | $ | 33.25 | |||||||||||||
The number of performance shares granted is reflected in the above table at the 100% target performance level. The actual performance- based award payouts will vary based on the achievement of the pre-established targets and can range from 0% to 200% of the target amount. The outstanding number of performance shares reflected in the table represents the number of shares expected to be awarded based on estimated achievement of the goals as of year end. However, at December 31, 2013, the maximum number of performance-based shares that could be issued if performance is attained at 200% of target based on the grants made to date was approximately 615,000 shares. | ||||||||||||||||||||||
The actual tax benefit realized upon the vesting of restricted shares is based on the fair value of the shares on the vesting date and the estimated tax benefit of the awards is based on fair value of the awards on the grant date. The actual tax benefit realized upon the vesting of restricted shares in 2013, 2012 and 2011 was $329,000, $15,000 and $(72,000), respectively, more/(less) than the estimated tax benefit for those shares. These differences in actual and estimated tax benefits were recorded directly to shareholders’ equity. | ||||||||||||||||||||||
As of December 31, 2013, there was $8.7 million of total unrecognized compensation cost related to non-vested share based arrangements under the Plans. That cost is expected to be recognized over a weighted average period of approximately two years. The total fair value of shares vested during the years ended December 31, 2013, 2012 and 2011 was $7.4 million, $6.4 million and $4.1 million, respectively. | ||||||||||||||||||||||
The Company issues new shares to satisfy its obligation to issue shares granted pursuant to the Plans. | ||||||||||||||||||||||
Cash Incentive and Retention Plan | ||||||||||||||||||||||
In April 2008, the Company approved a Cash Incentive and Retention Plan (“CIRP”) which allows the Company to provide cash compensation to the Company’s and its subsidiaries’ officers and employees. The CIRP is administered by the Compensation Committee of the Board of Directors. The CIRP generally provides for the grants of cash awards, which may be earned pursuant to the achievement of performance criteria established by the Compensation Committee and/or continued employment. The performance criteria, if any, established by the Compensation Committee must relate to one or more of the criteria specified in the CIRP, which includes: earnings, earnings growth, revenues, stock price, return on assets, return on equity, improvement of financial ratings, achievement of balance sheet or income statement objectives and expenses. These criteria may relate to the Company, a particular line of business or a specific subsidiary of the Company. The Company’s expense related to the CIRP was approximately $115,000, $357,000 and $295,000 in 2013, 2012 and 2011, respectively. In December 2012, the Company paid $1.2 million in vested CIRP awards. No awards were paid in 2013, but $473,000 was paid in January 2014 for awards with performance periods ending in December 2013. | ||||||||||||||||||||||
Other Employee Benefits | ||||||||||||||||||||||
Wintrust and its subsidiaries also provide 401(k) Retirement Savings Plans (“401(k) Plans”). The 401(k) Plans cover all employees meeting certain eligibility requirements. Contributions by employees are made through salary deferrals at their direction, subject to certain Plan and statutory limitations. Employer contributions to the 401(k) Plans are made at the employer’s discretion. Generally, participants completing 501 hours of service are eligible to share in an allocation of employer contributions. The Company’s expense for the employer contributions to the 401(k) Plans was approximately $4.9 million in 2013, $4.3 million in 2012, and $4.0 million in 2011. | ||||||||||||||||||||||
The Wintrust Financial Corporation Employee Stock Purchase Plan (“ESPP”) is designed to encourage greater stock ownership among employees, thereby enhancing employee commitment to the Company. The ESPP gives eligible employees the right to accumulate funds over an offering period to purchase shares of common stock. All shares offered under the ESPP will be either newly issued shares of the Company or shares issued from treasury, if any. In accordance with the ESPP, the purchase price of the shares of common stock may not be lower than the lesser of 85% of the fair market value per share of the common stock on the first day of the offering period or 85% of the fair market value per share of the common stock on the last date for the offering period. The Company’s Board of Directors authorized a purchase price calculation at 90% of fair market value for each of the offering periods. During 2013, 2012 and 2011, a total of 62,096 shares, 66,237 shares and 71,077 shares, respectively, were earned by participants and approximately $355,000, $421,000 and $300,000, respectively, was recognized as compensation expense. The current offering period concludes on March 31, 2014. The Company plans to continue to periodically offer common stock through this ESPP subsequent to March 31, 2014. In May 2012, the Company's shareholders authorized an additional 300,000 shares of common stock that may be offered under the ESPP. At December 31, 2013, the Company had an obligation to issue 13,012 shares of common stock to participants and has 259,020 shares available for future grants under the ESPP. | ||||||||||||||||||||||
As a result of the Company's acquisition of HPK in December 2012, the Company assumed the obligations of a noncontributory pension plan, (“the HPK Plan”), that covers approximately 100 participants with benefits based on years of service and compensation prior to retirement. The HPK Plan was “frozen” as of December 31, 2006, with no additional years of credit earned for service or compensation paid. As of December 31, 2013, the projected benefit obligation was $6.7 million and the fair value of the plan's assets was $5.9 million. Similarly, in connection with the Company's acquisition of Diamond in October 2013, the Company assumed the obligation of Diamond's pension plan, which covers approximately 35 participants. The Diamond Plan was frozen as of December 31, 2004, and only service and compensation prior to this date is considered in determining benefits. As of December 31, 2013, the projected benefit obligation was $3.3 million and the fair value of the plan's assets was $2.9 million. The Company has accrued liabilities for these plans and is in the process of terminating both of these pension plans. | ||||||||||||||||||||||
The Company does not currently offer other postretirement benefits such as health care or other pension plans. | ||||||||||||||||||||||
Directors Deferred Fee and Stock Plan | ||||||||||||||||||||||
The Wintrust Financial Corporation Directors Deferred Fee and Stock Plan (“DDFS Plan”) allows directors of the Company and its subsidiaries to choose to receive payment of directors’ fees in either cash or common stock of the Company and to defer the receipt of the fees. The DDFS Plan is designed to encourage stock ownership by directors. All shares offered under the DDFS Plan will be either newly issued shares of the Company or shares issued from treasury. The number of shares issued is determined on a quarterly basis based on the fees earned during the quarter and the fair market value per share of the common stock on the last trading day of the preceding quarter. The shares are issued annually and the directors are entitled to dividends and voting rights upon the issuance of the shares. During 2013, 2012 and 2011, a total of 30,547 shares, 22,220 shares and 25,242 shares, respectively, were issued to directors. For those directors that elect to defer the receipt of the common stock, the Company maintains records of stock units representing an obligation to issue shares of common stock. The number of stock units equals the number of shares that would have been issued had the director not elected to defer receipt of the shares. Additional stock units are credited at the time dividends are paid, however no voting rights are associated with the stock units. The shares of common stock represented by the stock units are issued in the year specified by the directors in their participation agreements. At December 31, 2013, the Company has an obligation to issue 251,523 shares of common stock to directors and has 66,282 shares available for future grants under the DDFS Plan. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||||||||||||
Regulatory Matters | ' | ||||||||||||||||||||||||||||
Regulatory Matters | |||||||||||||||||||||||||||||
Banking laws place restrictions upon the amount of dividends which can be paid to Wintrust by the banks. Based on these laws, the banks could, subject to minimum capital requirements, declare dividends to Wintrust without obtaining regulatory approval in an amount not exceeding (a) undivided profits, and (b) the amount of net income reduced by dividends paid for the current and prior two years. During 2013, 2012 and 2011, cash dividends totaling $112.8 million, $45.0 million and $27.8 million, respectively, were paid to Wintrust by the banks. As of January 1, 2013, the banks had approximately $147.4 million available to be paid as dividends to Wintrust without prior regulatory approval and without reducing their capital below the well-capitalized level. | |||||||||||||||||||||||||||||
The banks are also required by the Federal Reserve Act to maintain reserves against deposits. Reserves are held either in the form of vault cash or balances maintained with the Federal Reserve Bank and are based on the average daily deposit balances and statutory reserve ratios prescribed by the type of deposit account. At December 31, 2013 and 2012, reserve balances of approximately $213.2 million and $160.2 million, respectively, were required to be maintained at the Federal Reserve Bank. | |||||||||||||||||||||||||||||
The Company and the banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory — and possibly additional discretionary—actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the banks must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s and the banks’ capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | |||||||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and the banks to maintain minimum amounts and ratios of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and Tier 1 leverage capital (as defined) to average quarterly assets (as defined). | |||||||||||||||||||||||||||||
The Federal Reserve’s capital guidelines require bank holding companies to maintain a minimum ratio of qualifying total capital to risk-weighted assets of 8.0%, of which at least 4.0% must be in the form of Tier 1 Capital. The Federal Reserve also requires a minimum tangible Tier 1 leverage ratio (Tier 1 Capital to total assets) of 3.0% for strong bank holding companies (those rated a composite “1” under the Federal Reserve’s rating system). For all other banking holding companies, the minimum tangible Tier 1 leverage ratio is 4.0%. In addition, the Federal Reserve continues to consider the tangible Tier 1 leverage ratio in evaluating proposals for expansion or new activities. As reflected in the following table, the Company met all minimum capital requirements at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Total Capital to Risk Weighted Assets | 12.9 | % | 13.1 | % | |||||||||||||||||||||||||
Tier 1 Capital to Risk Weighted Assets | 12.2 | % | 12.1 | % | |||||||||||||||||||||||||
Tier 1 Leverage Ratio | 10.5 | % | 10 | % | |||||||||||||||||||||||||
Wintrust is designated as a financial holding company. Bank holding companies approved as financial holding companies may engage in an expanded range of activities, including the businesses conducted by its wealth management subsidiaries. As a financial holding company, Wintrust’s banks are required to maintain their capital positions at the “well-capitalized” level. As of December 31, 2013, the banks were categorized as well capitalized under the regulatory framework for prompt corrective action. The ratios required for the banks to be “well capitalized” by regulatory definition are 10.0%, 6.0%, and 5.0% for Total Capital to Risk-Weighted Assets, Tier 1 Capital to Risk-Weighted Assets and Tier 1 Leverage Ratio, respectively. | |||||||||||||||||||||||||||||
The banks’ actual capital amounts and ratios as of December 31, 2013 and 2012 are presented in the following table: | |||||||||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Actual | To Be Well | Actual | To Be Well | ||||||||||||||||||||||||||
Capitalized by | Capitalized by | ||||||||||||||||||||||||||||
Regulatory Definition | Regulatory Definition | ||||||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||
Total Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||||||
Lake Forest Bank | $ | 236,055 | 11.7 | % | $ | 202,443 | 10 | % | $ | 226,234 | 11 | % | $ | 205,188 | 10 | % | |||||||||||||
Hinsdale Bank | 152,266 | 11.4 | 134,106 | 10 | 154,677 | 12.2 | 126,837 | 10 | |||||||||||||||||||||
North Shore Community Bank | 232,454 | 11.6 | 200,806 | 10 | 202,823 | 11.5 | 176,124 | 10 | |||||||||||||||||||||
Libertyville Bank | 111,396 | 11.4 | 97,777 | 10 | 116,818 | 11.9 | 97,880 | 10 | |||||||||||||||||||||
Barrington Bank | 128,924 | 11 | 117,103 | 10 | 148,382 | 13.5 | 109,526 | 10 | |||||||||||||||||||||
Crystal Lake Bank | 85,922 | 13 | 66,066 | 10 | 84,310 | 14.5 | 58,091 | 10 | |||||||||||||||||||||
Northbrook Bank | 142,512 | 11 | 130,208 | 10 | 139,603 | 12.2 | 114,057 | 10 | |||||||||||||||||||||
Schaumburg Bank | 70,728 | 11.4 | 62,130 | 10 | 68,305 | 11.8 | 57,946 | 10 | |||||||||||||||||||||
Village Bank | 95,359 | 11 | 86,435 | 10 | 92,787 | 11.5 | 80,441 | 10 | |||||||||||||||||||||
Beverly Bank | 70,754 | 11.2 | 63,251 | 10 | 61,994 | 11.1 | 55,697 | 10 | |||||||||||||||||||||
Town Bank | 85,647 | 11.2 | 76,234 | 10 | 83,144 | 11.5 | 72,373 | 10 | |||||||||||||||||||||
Wheaton Bank | 77,177 | 13 | 59,354 | 10 | 71,097 | 13.6 | 52,450 | 10 | |||||||||||||||||||||
State Bank of the Lakes | 73,248 | 11.9 | 61,698 | 10 | 71,178 | 11.5 | 61,886 | 10 | |||||||||||||||||||||
Old Plank Trail Bank | 96,495 | 12.7 | 75,834 | 10 | 74,445 | 14.7 | 50,582 | 10 | |||||||||||||||||||||
St. Charles Bank | 71,170 | 11.4 | 62,669 | 10 | 66,079 | 11.3 | 58,341 | 10 | |||||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||||||
Lake Forest Bank | $ | 222,577 | 11 | % | $ | 121,466 | 6 | % | $ | 209,699 | 10.2 | % | $ | 123,113 | 6 | % | |||||||||||||
Hinsdale Bank | 144,196 | 10.8 | 80,463 | 6 | 145,380 | 11.5 | 76,102 | 6 | |||||||||||||||||||||
North Shore Community Bank | 162,903 | 8.1 | 120,484 | 6 | 145,488 | 8.3 | 105,675 | 6 | |||||||||||||||||||||
Libertyville Bank | 103,895 | 10.6 | 58,666 | 6 | 105,251 | 10.8 | 58,728 | 6 | |||||||||||||||||||||
Barrington Bank | 122,664 | 10.5 | 70,262 | 6 | 140,037 | 12.8 | 65,716 | 6 | |||||||||||||||||||||
Crystal Lake Bank | 79,878 | 12.1 | 39,640 | 6 | 77,962 | 13.4 | 34,855 | 6 | |||||||||||||||||||||
Northbrook Bank | 131,591 | 10.1 | 78,125 | 6 | 125,192 | 11 | 68,434 | 6 | |||||||||||||||||||||
Schaumburg Bank | 64,263 | 10.3 | 37,278 | 6 | 62,538 | 10.8 | 34,768 | 6 | |||||||||||||||||||||
Village Bank | 88,961 | 10.3 | 51,861 | 6 | 86,435 | 10.7 | 48,265 | 6 | |||||||||||||||||||||
Beverly Bank | 65,385 | 10.3 | 37,951 | 6 | 59,440 | 10.7 | 33,418 | 6 | |||||||||||||||||||||
Town Bank | 79,843 | 10.5 | 45,741 | 6 | 76,824 | 10.6 | 43,424 | 6 | |||||||||||||||||||||
Wheaton Bank | 69,730 | 11.8 | 35,613 | 6 | 64,509 | 12.3 | 31,470 | 6 | |||||||||||||||||||||
State Bank of the Lakes | 68,399 | 11.1 | 37,019 | 6 | 61,521 | 9.9 | 37,131 | 6 | |||||||||||||||||||||
Old Plank Trail Bank | 92,694 | 12.2 | 45,500 | 6 | 66,170 | 13.1 | 30,349 | 6 | |||||||||||||||||||||
St. Charles Bank | 64,922 | 10.4 | 37,601 | 6 | 60,753 | 10.4 | 35,004 | 6 | |||||||||||||||||||||
Tier 1 Leverage Ratio: | |||||||||||||||||||||||||||||
Lake Forest Bank | $ | 222,577 | 9.6 | % | $ | 116,340 | 5 | % | $ | 209,699 | 8.8 | % | $ | 119,601 | 5 | % | |||||||||||||
Hinsdale Bank | 144,196 | 9.5 | 75,822 | 5 | 145,380 | 8.7 | 83,238 | 5 | |||||||||||||||||||||
North Shore Community Bank | 162,903 | 7.2 | 113,580 | 5 | 145,488 | 7.2 | 101,553 | 5 | |||||||||||||||||||||
Libertyville Bank | 103,895 | 9.2 | 56,703 | 5 | 105,251 | 8.9 | 59,379 | 5 | |||||||||||||||||||||
Barrington Bank | 122,664 | 8.9 | 69,270 | 5 | 140,037 | 9.7 | 72,531 | 5 | |||||||||||||||||||||
Crystal Lake Bank | 79,878 | 10.2 | 39,108 | 5 | 77,962 | 10.3 | 37,971 | 5 | |||||||||||||||||||||
Northbrook Bank | 131,591 | 8.1 | 80,876 | 5 | 125,192 | 7.5 | 83,244 | 5 | |||||||||||||||||||||
Schaumburg Bank | 64,263 | 9 | 35,571 | 5 | 62,538 | 8.7 | 36,061 | 5 | |||||||||||||||||||||
Village Bank | 88,961 | 9.4 | 47,549 | 5 | 86,435 | 9 | 48,068 | 5 | |||||||||||||||||||||
Beverly Bank | 65,385 | 8.8 | 37,281 | 5 | 59,440 | 12.3 | 24,127 | 5 | |||||||||||||||||||||
Town Bank | 79,843 | 9.5 | 42,164 | 5 | 76,824 | 9.4 | 40,671 | 5 | |||||||||||||||||||||
Wheaton Bank | 69,730 | 9.3 | 37,498 | 5 | 64,509 | 8.9 | 36,205 | 5 | |||||||||||||||||||||
State Bank of the Lakes | 68,399 | 9.8 | 34,784 | 5 | 61,521 | 8.4 | 36,570 | 5 | |||||||||||||||||||||
Old Plank Trail Bank | 92,694 | 8.7 | 53,603 | 5 | 66,170 | 8.9 | 37,380 | 5 | |||||||||||||||||||||
St. Charles Bank | 64,922 | 9.6 | 33,975 | 5 | 60,753 | 9.4 | 32,170 | 5 | |||||||||||||||||||||
Wintrust’s mortgage banking division and broker/dealer subsidiary are also required to maintain minimum net worth capital requirements with various governmental agencies. The mortgage banking division’s net worth requirements are governed by the Department of Housing and Urban Development and the broker/dealer’s net worth requirements are governed by the SEC. As of December 31, 2013, these business units met their minimum net worth capital requirements. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
The Company has outstanding, at any time, a number of commitments to extend credit. These commitments include revolving home equity line and other credit agreements, term loan commitments and standby and commercial letters of credit. Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, while commercial letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and the third party. | |
These commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the Consolidated Statements of Condition. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. Commitments to extend commercial, commercial real estate and construction loans totaled $2.7 billion and $2.6 billion as of December 31, 2013 and 2012, respectively, and unused home equity lines totaled $747.1 million and $750.9 million as of December 31, 2013 and 2012, respectively. Standby and commercial letters of credit totaled $166.2 million at December 31, 2013 and $174.3 million at December 31, 2012. | |
In addition, at December 31, 2013 and 2012, the Company had approximately $194.3 million and $457.7 million, respectively, in commitments to fund residential mortgage loans to be sold into the secondary market. These lending commitments are also considered derivative instruments. The Company also enters into forward contracts for the future delivery of residential mortgage loans at specified interest rates to reduce the interest rate risk associated with commitments to fund loans as well as mortgage loans held-for-sale. These forward contracts are also considered derivative instruments and had contractual amounts of approximately $472.1 million at December 31, 2013 and $858.1 million at December 31, 2012. See Note 22 for further discussion on derivative instruments. | |
The Company enters into residential mortgage loan sale agreements with investors in the normal course of business. These agreements usually require certain representations concerning credit information, loan documentation, collateral and insurability. On occasion, investors have requested the Company to indemnify them against losses on certain loans or to repurchase loans which the investors believe do not comply with applicable representations. Management maintains a liability for estimated losses on loans expected to be repurchased or on which indemnification is expected to be provided and regularly evaluates the adequacy of this recourse liability based on trends in repurchase and indemnification requests, actual loss experience, known and inherent risks in the loans, and current economic conditions. | |
The Company sold approximately $3.7 billion of mortgage loans in 2013 and $3.9 billion in 2012. The liability for estimated losses on repurchase and indemnification claims for residential mortgage loans previously sold to investors was $3.8 million and $4.3 million at December 31, 2013 and 2012, respectively, and was included in other liabilities on the Consolidated Statements of Condition. Losses charged against the liability were $327,000 in 2013 as compared to $284,000 in 2012. These losses primarily relate to mortgages obtained through wholesale and correspondent channels which experienced early payment and other defaults meeting certain representation and warranty recourse requirements. | |
The Company utilizes an out-sourced securities clearing platform and has agreed to indemnify the clearing broker of WHI for losses that it may sustain from the customer accounts introduced by WHI. As of December 31, 2013, the total amount of customer balances maintained by the clearing broker and subject to indemnification was approximately $29.9 million. WHI seeks to control the risks associated with its customers’ activities by requiring customers to maintain margin collateral in compliance with various regulatory and internal guidelines. | |
In the ordinary course of business, there are legal proceedings pending against the Company and its subsidiaries. Management does not believe that a material loss related to these matters is reasonably possible. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||
The Company primarily enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Derivative instruments represent contracts between parties that result in one party delivering cash to the other party based on a notional amount and an underlying (such as a rate, security price or price index) as specified in the contract. The amount of cash delivered from one party to the other is determined based on the interaction of the notional amount of the contract with the underlying. Derivatives are also implicit in certain contracts and commitments. | |||||||||||||||||||||||
The derivative financial instruments currently used by the Company to manage its exposure to interest rate risk include: (1) interest rate swaps and caps to manage the interest rate risk of certain fixed and variable rate assets and variable rate liabilities; (2) interest rate lock commitments provided to customers to fund certain mortgage loans to be sold into the secondary market; (3) forward commitments for the future delivery of such mortgage loans to protect the Company from adverse changes in interest rates and corresponding changes in the value of mortgage loans available-for-sale; and (4) covered call options to economically hedge specific investment securities and receive fee income effectively enhancing the overall yield on such securities. The Company also enters into derivatives (typically interest rate swaps) with certain qualified borrowers to facilitate the borrowers’ risk management strategies and concurrently enters into mirror-image derivatives with a third party counterparty, effectively making a market in the derivatives for such borrowers. Additionally, the Company enters into foreign currency contracts to manage foreign exchange risk associated with certain foreign currency denominated assets. | |||||||||||||||||||||||
The Company has purchased interest rate cap derivatives to hedge or manage its own risk exposures. Certain interest rate cap derivatives have been designated as cash flow hedge derivatives of the variable cash outflows associated with interest expense on the Company’s junior subordinated debentures. Other cap derivatives are not designated for hedge accounting but are economic hedges of the Company's overall portfolio, therefore any mark to market changes in the value of these caps are recognized in earnings. | |||||||||||||||||||||||
Below is a summary of the interest rate cap derivatives held by the Company as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Notional | Accounting | Fair Value as of | |||||||||||||||||||||
Effective Date | Maturity Date | Amount | Treatment | 31-Dec-13 | |||||||||||||||||||
30-Sep-11 | 30-Sep-14 | $ | 20,000 | Cash Flow Hedging | $ | — | |||||||||||||||||
30-Sep-11 | 30-Sep-14 | 40,000 | Cash Flow Hedging | — | |||||||||||||||||||
3-May-12 | 3-May-15 | 77,000 | Non-Hedge Designated | 3 | |||||||||||||||||||
3-May-12 | 3-May-16 | 215,000 | Non-Hedge Designated | 532 | |||||||||||||||||||
1-Jun-12 | 1-Apr-15 | 96,530 | Non-Hedge Designated | 2 | |||||||||||||||||||
29-Aug-12 | 29-Aug-16 | 216,500 | Non-Hedge Designated | 979 | |||||||||||||||||||
22-Feb-13 | 22-Aug-16 | 100,000 | Non-Hedge Designated | 526 | |||||||||||||||||||
21-Mar-13 | 21-Mar-17 | 100,000 | Non-Hedge Designated | 1,158 | |||||||||||||||||||
16-May-13 | 16-Nov-16 | 75,000 | Non-Hedge Designated | 558 | |||||||||||||||||||
15-Sep-13 | 15-Sep-17 | 50,000 | Cash Flow Hedging | 970 | |||||||||||||||||||
30-Sep-13 | 30-Sep-17 | 40,000 | Cash Flow Hedging | 806 | |||||||||||||||||||
$ | 1,030,030 | $ | 5,534 | ||||||||||||||||||||
The Company recognizes derivative financial instruments in the consolidated financial statements at fair value regardless of the purpose or intent for holding the instrument. The Company records derivative assets and derivative liabilities on the Consolidated Statements of Condition within accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively. Changes in the fair value of derivative financial instruments are either recognized in income or in shareholders’ equity as a component of other comprehensive income depending on whether the derivative financial instrument qualifies for hedge accounting and, if so, whether it qualifies as a fair value hedge or cash flow hedge. Generally, changes in fair values of derivatives accounted for as fair value hedges are recorded in income in the same period and in the same income statement line as changes in the fair values of the hedged items that relate to the hedged risk(s). Changes in fair values of derivative financial instruments accounted for as cash flow hedges, to the extent they are effective hedges, are recorded as a component of other comprehensive income, net of deferred taxes, and reclassified to earnings when the hedged transaction affects earnings. Changes in fair values of derivative financial instruments not designated in a hedging relationship pursuant to ASC 815, including changes in fair value related to the ineffective portion of cash flow hedges, are reported in non-interest income during the period of the change. Derivative financial instruments are valued by a third party and are corroborated by comparison with valuations provided by the respective counterparties. Fair values of certain mortgage banking derivatives (interest rate lock commitments and forward commitments to sell mortgage loans on a best efforts basis) are estimated based on changes in mortgage interest rates from the date of the loan commitment. The fair value of foreign currency derivatives is computed based on changes in foreign currency rates stated in the contract compared to those prevailing at the measurement date. | |||||||||||||||||||||||
The table below presents the fair value of the Company’s derivative financial instruments as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Derivatives designated as hedging instruments under ASC 815: | |||||||||||||||||||||||
Interest rate derivatives designated as Cash Flow Hedges | $ | 1,776 | $ | 2 | $ | 3,160 | $ | 7,988 | |||||||||||||||
Interest rate derivatives designated as Fair Value Hedges | $ | 107 | $ | 104 | $ | 1 | $ | — | |||||||||||||||
Total derivatives designated as hedging instruments under ASC 815 | $ | 1,883 | $ | 106 | $ | 3,161 | $ | 7,988 | |||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||
Interest rate derivatives | 36,073 | 47,440 | 31,646 | 45,767 | |||||||||||||||||||
Interest rate lock commitments | 7,500 | 6,069 | 147 | 937 | |||||||||||||||||||
Forward commitments to sell mortgage loans | 2,761 | 277 | 2,310 | 3,057 | |||||||||||||||||||
Foreign exchange contracts | 4 | 14 | — | 2 | |||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC 815 | $ | 46,338 | $ | 53,800 | $ | 34,103 | $ | 49,763 | |||||||||||||||
Total derivatives | $ | 48,221 | $ | 53,906 | $ | 37,264 | $ | 57,751 | |||||||||||||||
Cash Flow Hedges of Interest Rate Risk | |||||||||||||||||||||||
The Company’s objectives in using interest rate derivatives are to add stability to net interest income and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and interest rate caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without the exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of payments at the end of each period in which the interest rate specified in the contract exceeds the agreed upon strike price. | |||||||||||||||||||||||
As of December 31, 2013, the Company had two interest rate swaps and four interest rate caps with an aggregate notional amount of $225 million that were designated as cash flow hedges of interest rate risk. The table below provides details on each of these cash flow hedges as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | ||||||||||||||||||||||
Maturity Date | Notional | Fair Value | |||||||||||||||||||||
Amount | Asset (Liability) | ||||||||||||||||||||||
Interest Rate Swaps: | |||||||||||||||||||||||
Sep-16 | 50,000 | (2,083 | ) | ||||||||||||||||||||
Oct-16 | 25,000 | (1,077 | ) | ||||||||||||||||||||
Total Interest Rate Swaps | 75,000 | (3,160 | ) | ||||||||||||||||||||
Interest Rate Caps: | |||||||||||||||||||||||
Sep-14 | 20,000 | — | |||||||||||||||||||||
Sep-14 | 40,000 | — | |||||||||||||||||||||
Sep-17 | 50,000 | 970 | |||||||||||||||||||||
Sep-17 | 40,000 | 806 | |||||||||||||||||||||
Total Interest Rate Caps | 150,000 | 1,776 | |||||||||||||||||||||
Total Cash Flow Hedges | $ | 225,000 | $ | (1,384 | ) | ||||||||||||||||||
Since entering into these interest rate derivatives, the Company has used them to hedge the variable cash outflows associated with interest expense on the Company’s junior subordinated debentures. The effective portion of changes in the fair value of these cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified to interest expense as interest payments are made on the Company’s variable rate junior subordinated debentures. The changes in fair value (net of tax) are separately disclosed in the Consolidated Statements of Comprehensive Income. The ineffective portion of the change in fair value of these derivatives is recognized directly in earnings; however, no hedge ineffectiveness was recognized during 2013 or 2012. The Company uses the hypothetical derivative method to assess and measure effectiveness. | |||||||||||||||||||||||
A rollforward of the amounts in accumulated other comprehensive income related to interest rate derivatives designated as cash flow hedges follows: | |||||||||||||||||||||||
December 31, | |||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||
Unrealized loss at beginning of period | $ | (8,673 | ) | $ | (11,633 | ) | |||||||||||||||||
Amount reclassified from accumulated other comprehensive income to interest expense on junior subordinated debentures | 5,115 | 5,850 | |||||||||||||||||||||
Amount of loss recognized in other comprehensive income | (413 | ) | (2,890 | ) | |||||||||||||||||||
Unrealized loss at end of period | $ | (3,971 | ) | $ | (8,673 | ) | |||||||||||||||||
As of December 31, 2013, the Company estimates that during the next twelve months, $1.9 million will be reclassified from accumulated other comprehensive income as an increase to interest expense. | |||||||||||||||||||||||
Fair Value Hedges of Interest Rate Risk | |||||||||||||||||||||||
Interest rate swaps designated as fair value hedges involve the payment of fixed amounts to a counterparty in exchange for the Company receiving variable payments over the life of the agreements without the exchange of the underlying notional amount. As of December 31, 2013, the Company has three interest rate swaps with an aggregate notional amount of $6.1 million that were designated as fair value hedges associated with fixed rate commercial franchise loans. | |||||||||||||||||||||||
For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged item in the same line item as the offsetting loss or gain on the related derivatives. The Company recognized net gains of $12,000 in other income related to hedge ineffectiveness for the year ended December 31, 2013. The Company also recognized net decreases in interest income of $28,000 in 2013 related to net settlements on the derivatives. | |||||||||||||||||||||||
On June 1, 2013, the Company de-designated a $96.5 million cap which was previously designated as a fair value hedge of interest rate risk associated with an embedded cap in one of the Company’s floating rate loans. The hedged loan was restructured which resulted in the interest rate cap no longer qualifying as an effective fair value hedge. As such, the interest rate cap derivative is no longer accounted for under hedge accounting and all changes in value subsequent to June 1, 2013 are recorded in earnings. Additionally, in the year ended December 31, 2013 the Company recorded amortization of the basis in the previously hedged item as a reduction to interest income of $192,000. | |||||||||||||||||||||||
The following table presents the gain/(loss) and hedge ineffectiveness recognized on derivative instruments and the related hedged items that are designated as a fair value hedge accounting relationship as of December 31, 2013 and 2012: | |||||||||||||||||||||||
(Dollars in thousands) | Location of Gain or (Loss) | Amount of Gain or (Loss) Recognized | Amount of Gain or (Loss) Recognized | Income Statement Gain/ | |||||||||||||||||||
Recognized in Income on | in Income on Derivative | in Income on Hedged Item | (Loss) due to Hedge | ||||||||||||||||||||
Derivative | Year Ended December 31, | Year Ended December 31, | Ineffectiveness | ||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
Derivatives in Fair Value | |||||||||||||||||||||||
Hedging Relationships | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Interest rate products | Other income | $ | 67 | (480 | ) | $ | (55 | ) | 535 | $ | 12 | 55 | |||||||||||
Non-Designated Hedges | |||||||||||||||||||||||
The Company does not use derivatives for speculative purposes. Derivatives not designated as hedges are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of ASC 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. | |||||||||||||||||||||||
Interest Rate Derivatives—The Company has interest rate derivatives, including swaps and option products, resulting from a service the Company provides to certain qualified borrowers. The Company’s banking subsidiaries execute certain derivative products (typically interest rate swaps) directly with qualified commercial borrowers to facilitate their respective risk management strategies. For example, these arrangements allow the Company’s commercial borrowers to effectively convert a variable rate loan to a fixed rate. In order to minimize the Company’s exposure on these transactions, the Company simultaneously executes offsetting derivatives with third parties. In most cases, the offsetting derivatives have mirror-image terms, which result in the positions’ changes in fair value substantially offsetting through earnings each period. However, to the extent that the derivatives are not a mirror-image and because of differences in counterparty credit risk, changes in fair value will not completely offset resulting in some earnings impact each period. Changes in the fair value of these derivatives are included in other non-interest income. At December 31, 2013, the Company had interest rate derivative transactions with an aggregate notional amount of approximately $2.8 billion (all interest rate swaps and caps with customers and third parties) related to this program. These interest rate derivatives had maturity dates ranging from February 2014 to January 2033. | |||||||||||||||||||||||
Mortgage Banking Derivatives—These derivatives include interest rate lock commitments provided to customers to fund certain mortgage loans to be sold into the secondary market and forward commitments for the future delivery of such loans. It is the Company’s practice to enter into forward commitments for the future delivery of a portion of our residential mortgage loan production when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on its commitments to fund the loans as well as on its portfolio of mortgage loans held-for-sale. The Company’s mortgage banking derivatives have not been designated as being in hedge relationships. At December 31, 2013, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of approximately $472.1 million and interest rate lock commitments with an aggregate notional amount of approximately $194.3 million. Additionally, the Company’s total mortgage loans held-for-sale at December 31, 2013 was $334.3 million. The fair values of these derivatives were estimated based on changes in mortgage rates from the dates of the commitments. Changes in the fair value of these mortgage banking derivatives are included in mortgage banking revenue. | |||||||||||||||||||||||
Foreign Currency Derivatives—These derivatives include foreign currency contracts used to manage the foreign exchange risk associated with foreign currency denominated assets and transactions. Foreign currency contracts, which include spot and forward contracts, represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. As a result of fluctuations in foreign currencies, the U.S. dollar-equivalent value of the foreign currency denominated assets or forecasted transactions increase or decrease. Gains or losses on the derivative instruments related to these foreign currency denominated assets or forecasted transactions are expected to substantially offset this variability. As of December 31, 2013 the Company held foreign currency derivatives with an aggregate notional amount of approximately $1.0 million. | |||||||||||||||||||||||
Other Derivatives—Periodically, the Company will sell options to a bank or dealer for the right to purchase certain securities held within the banks’ investment portfolios (covered call options). These option transactions are designed primarily as an economic hedge to increase the total return associated with the investment securities portfolio. These options do not qualify as hedges pursuant to ASC 815, and, accordingly, changes in fair value of these contracts are recognized as other non-interest income. There were no covered call options outstanding as of December 31, 2013 or December 31, 2012. | |||||||||||||||||||||||
As discussed above, the Company has entered into interest rate cap derivatives to protect the Company in a rising rate environment against increased margin compression due to the repricing of variable rate liabilities and lack of repricing of fixed rate loans and/or securities. The Company entered into three interest rate cap derivative contracts in the second quarter of 2012 (one of which was initially designated as a fair value hedge), one interest rate cap derivative contract in the third quarter of 2012, two interest rate cap derivative contracts in the first quarter of 2013 and one interest rate cap derivative contract in the second quarter of 2013 (see summary earlier in the footnote). As of December 31, 2013, the seven interest rate cap derivative contracts, which are not designated in hedge relationships, have an aggregate notional value of $880.0 million. | |||||||||||||||||||||||
Amounts included in the Consolidated Statements of Income related to derivative instruments not designated in hedge relationships were as follows: | |||||||||||||||||||||||
(Dollars in thousands) | December 31, | ||||||||||||||||||||||
Derivative | Location in income statement | 2013 | 2012 | ||||||||||||||||||||
Interest rate swaps and caps | Other income | $ | 853 | $ | (1,974 | ) | |||||||||||||||||
Mortgage banking derivatives | Mortgage banking revenue | 6,026 | 1,659 | ||||||||||||||||||||
Covered call options | Fees from covered call options | 4,773 | 10,476 | ||||||||||||||||||||
Foreign exchange contracts | Other income | (11 | ) | 12 | |||||||||||||||||||
Credit Risk | |||||||||||||||||||||||
Derivative instruments have inherent risks, primarily market risk and credit risk. Market risk is associated with changes in interest rates and credit risk relates to the risk that the counterparty will fail to perform according to the terms of the agreement. The amounts potentially subject to market and credit risks are the streams of interest payments under the contracts and the market value of the derivative instrument and not the notional principal amounts used to express the volume of the transactions. Market and credit risks are managed and monitored as part of the Company’s overall asset-liability management process, except that the credit risk related to derivatives entered into with certain qualified borrowers is managed through the Company’s standard loan underwriting process since these derivatives are secured through collateral provided by the loan agreements. Actual exposures are monitored against various types of credit limits established to contain risk within parameters. When deemed necessary, appropriate types and amounts of collateral are obtained to minimize credit exposure. | |||||||||||||||||||||||
The Company has agreements with certain of its interest rate derivative counterparties that contain cross-default provisions, which provide 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. The Company also has agreements with certain of its derivative counterparties that contain a provision allowing the counterparty to terminate the derivative positions if the Company fails to maintain its status as a well or adequately capitalized institution, which would require the Company to settle its obligations under the agreements. As of December 31, 2013 the fair value of interest rate derivatives in a net liability position, which includes accrued interest related to these agreements, was $23.1 million. If the Company had breached any of these provisions at December 31, 2013 it would have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty. | |||||||||||||||||||||||
The Company is also exposed to the credit risk of its commercial borrowers who are counterparties to interest rate derivatives with the banks. This counterparty risk related to the commercial borrowers is managed and monitored through the banks’ standard underwriting process applicable to loans since these derivatives are secured through collateral provided by the loan agreement. The counterparty risk associated with the mirror-image swaps executed with third parties is monitored and managed in connection with the Company’s overall asset liability management process. | |||||||||||||||||||||||
The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative assets and liabilities on the Consolidated Statements of Condition. The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown. | |||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||
Gross Amounts Recognized | $ | 37,956 | $ | 47,546 | $ | 34,807 | $ | 53,755 | |||||||||||||||
Less: Amounts offset in the Statements of Condition | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Net amount presented in the Statements of Condition | $ | 37,956 | $ | 47,546 | $ | 34,807 | $ | 53,755 | |||||||||||||||
Gross amounts not offset in the Statements of Condition | |||||||||||||||||||||||
Offsetting Derivative Positions | (8,826 | ) | (339 | ) | (8,826 | ) | (339 | ) | |||||||||||||||
Securities Collateral Posted (1) | — | — | (25,981 | ) | (46,811 | ) | |||||||||||||||||
Cash Collateral Posted | — | — | — | (6,605 | ) | ||||||||||||||||||
Net Credit Exposure | $ | 29,130 | $ | 47,207 | $ | — | $ | — | |||||||||||||||
(1) As of December 31, 2013 and 2012, the Company posted securities collateral of $34.6 million and $49.9 million, respectively which resulted in excess collateral with its counterparties. For purposes of this disclosure, the amount of posted collateral is limited to the amount offsetting the derivative liability. |
Fair_Value_of_Assets_and_Liabi
Fair Value of Assets and Liabilities | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value of Assets and Liabilities | ' | ||||||||||||||||||||
Fair Value of Assets and Liabilities | |||||||||||||||||||||
The Company measures, monitors and discloses certain of its assets and liabilities on a fair value basis. These financial assets and financial liabilities are measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability of the inputs used to determine fair value. These levels are: | |||||||||||||||||||||
• | Level 1 — unadjusted quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||
• | Level 2 — inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability or inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||||||||||||||||||||
• | Level 3 — significant unobservable inputs that reflect the Company’s own assumptions that market participants would use in pricing the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. | ||||||||||||||||||||
A financial instrument’s categorization within the above valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the assets or liabilities. Following is a description of the valuation methodologies used for the Company’s assets and liabilities measured at fair value on a recurring basis. | |||||||||||||||||||||
Available-for-sale and trading account securities—Fair values for available-for-sale and trading securities are typically based on prices obtained from independent pricing vendors. Securities measured with these valuation techniques are generally classified as Level 2 of the fair value hierarchy. Typically, standard inputs such as benchmark yields, reported trades for similar securities, issuer spreads, benchmark securities, bids, offers and reference data including market research publications are used to fair value a security. When these inputs are not available, broker/dealer quotes may be obtained by the vendor to determine the fair value of the security. We review the vendor’s pricing methodologies to determine if observable market information is being used, versus unobservable inputs. Fair value measurements using significant inputs that are unobservable in the market due to limited activity or a less liquid market are classified as Level 3 in the fair value hierarchy. | |||||||||||||||||||||
The Company’s Investment Operations Department is responsible for the valuation of Level 3 available-for-sale securities. The methodology and variables used as inputs in pricing Level 3 securities are derived from a combination of observable and unobservable inputs. The unobservable inputs are determined through internal assumptions that may vary from period to period due to external factors, such as market movement and credit rating adjustments. | |||||||||||||||||||||
At December 31, 2013, the Company classified $36.4 million of municipal securities as Level 3. These municipal securities are bond issues for various municipal government entities, including park districts, located in the Chicago metropolitan area and southeastern Wisconsin and are privately placed, non-rated bonds without CUSIP numbers. The Company’s methodology for pricing the non-rated bonds focuses on three distinct inputs: equivalent rating, yield and other pricing terms. To determine the rating for a given non-rated municipal bond, the Investment Operations Department references a publicly issued bond by the same issuer if available. A reduction is then applied to the rating obtained from the comparable bond, as the Company believes if liquidated, a non-rated bond would be valued less than a similar bond with a verifiable rating. The reduction applied by the Company is one complete rating grade (i.e. a “AA” rating for a comparable bond would be reduced to “A” for the Company’s valuation). In 2013, all of the ratings derived in the above process by Investment Operations were BBB or better, for both bonds with and without comparable bond proxies. The fair value measurement of municipal bonds is sensitive to the rating input, as a higher rating typically results in an increased valuation. The remaining pricing inputs used in the bond valuation are observable. Based on the rating determined in the above process, Investment Operations obtains a corresponding current market yield curve available to market participants. Other terms including coupon, maturity date, redemption price, number of coupon payments per year, and accrual method are obtained from the individual bond term sheets. Certain municipal bonds held by the Company at December 31, 2013 have a call date that has passed, and are now continuously callable. When valuing these bonds, the fair value is capped at par value as the Company assumes a market participant would not pay more than par for a continuously callable bond. | |||||||||||||||||||||
At December 31, 2013, the Company held $22.2 million of other equity securities classified as Level 3. The securities in Level 3 are primarily comprised of auction rate preferred securities. The Company utilizes an independent pricing vendor to provide a fair market valuation of these securities. The vendor’s valuation methodology includes modeling the contractual cash flows of the underlying preferred securities and applying a discount to these cash flows by a credit spread derived from the market price of the securities underlying debt. At December 31, 2013, the vendor considered five different securities whose implied credit spreads were believed to provide a proxy for the Company’s auction rate preferred securities. The credit spreads ranged from 1.94%-3.06% with an average of 2.54% which was added to three-month LIBOR to be used as the discount rate input to the vendor’s model. Fair value of the securities is sensitive to the discount rate utilized as a higher discount rate results in a decreased fair value measurement. | |||||||||||||||||||||
Mortgage loans held-for-sale—Mortgage loans originated by Wintrust Mortgage are carried at fair value. The fair value of mortgage loans held-for-sale is determined by reference to investor price sheets for loan products with similar characteristics. | |||||||||||||||||||||
Mortgage servicing rights—Fair value for mortgage servicing rights is determined utilizing a third party valuation model which stratifies the servicing rights into pools based on product type and interest rate. The fair value of each servicing rights pool is calculated based on the present value of estimated future cash flows using a discount rate commensurate with the risk associated with that pool, given current market conditions. At December 31, 2013, the Company classified $8.9 million of mortgage servicing rights as Level 3. The weighted average discount rate used as an input to value the pool of mortgage servicing rights at December 31, 2013 was 10.16% with discount rates applied ranging from 10%-13.5%. The higher the rate utilized to discount estimated future cash flows, the lower the fair value measurement. Additionally, fair value estimates include assumptions about prepayment speeds which ranged from 10%-15% or a weighted average prepayment speed of 11.94% used as an input to value the pool of mortgage servicing rights at December 31, 2013. Prepayment speeds are inversely related to the fair value of mortgage servicing rights as an increase in prepayment speeds results in a decreased valuation. | |||||||||||||||||||||
Derivative instruments—The Company’s derivative instruments include interest rate swaps and caps, commitments to fund mortgages for sale into the secondary market (interest rate locks), forward commitments to end investors for the sale of mortgage loans and foreign currency contracts. Interest rate swaps and caps are valued by a third party, using models that primarily use market observable inputs, such as yield curves, and are validated by comparison with valuations provided by the respective counterparties. The fair value for mortgage derivatives is based on changes in mortgage rates from the date of the commitments. The fair value of foreign currency derivatives is computed based on change in foreign currency rates stated in the contract compared to those prevailing at the measurement date. In conjunction with the FASB’s fair value measurement guidance, the Company made an accounting policy election in the first quarter of 2012 to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. | |||||||||||||||||||||
Nonqualified deferred compensation assets—The underlying assets relating to the nonqualified deferred compensation plan are included in a trust and primarily consist of non-exchange traded institutional funds which are priced based by an independent third party service. | |||||||||||||||||||||
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented: | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollars in thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Treasury | $ | 336,095 | $ | — | $ | 336,095 | $ | — | |||||||||||||
U.S. Government agencies | 895,688 | — | 895,688 | — | |||||||||||||||||
Municipal | 152,716 | — | 116,330 | 36,386 | |||||||||||||||||
Corporate notes | 135,038 | — | 135,038 | — | |||||||||||||||||
Mortgage-backed | 605,225 | — | 605,225 | — | |||||||||||||||||
Equity securities | 51,528 | — | 29,365 | 22,163 | |||||||||||||||||
Trading account securities | 497 | — | 497 | — | |||||||||||||||||
Mortgage loans held-for-sale | 332,485 | — | 332,485 | — | |||||||||||||||||
Mortgage servicing rights | 8,946 | — | — | 8,946 | |||||||||||||||||
Nonqualified deferred compensations assets | 7,222 | — | 7,222 | — | |||||||||||||||||
Derivative assets | 48,221 | — | 48,221 | — | |||||||||||||||||
Total | $ | 2,573,661 | $ | — | $ | 2,506,166 | $ | 67,495 | |||||||||||||
Derivative liabilities | $ | 37,264 | $ | — | $ | 37,264 | $ | — | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
(Dollars in thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Treasury | $ | 219,487 | $ | — | $ | 219,487 | $ | — | |||||||||||||
U.S. Government agencies | 990,039 | — | 990,039 | — | |||||||||||||||||
Municipal | 110,471 | — | 79,701 | 30,770 | |||||||||||||||||
Corporate notes | 154,806 | — | 154,806 | — | |||||||||||||||||
Mortgage-backed | 271,574 | — | 271,574 | — | |||||||||||||||||
Equity securities | 49,699 | — | 27,530 | 22,169 | |||||||||||||||||
Trading account securities | 583 | — | 583 | — | |||||||||||||||||
Mortgage loans held-for-sale | 385,033 | — | 385,033 | — | |||||||||||||||||
Mortgage servicing rights | 6,750 | — | — | 6,750 | |||||||||||||||||
Nonqualified deferred compensations assets | 5,532 | — | 5,532 | — | |||||||||||||||||
Derivative assets | 53,906 | — | 53,906 | — | |||||||||||||||||
Total | $ | 2,247,880 | $ | — | $ | 2,188,191 | $ | 59,689 | |||||||||||||
Derivative liabilities | $ | 57,751 | $ | — | $ | 57,751 | $ | — | |||||||||||||
The aggregate remaining contractual principal balance outstanding as of December 31, 2013 and 2012 for mortgage loans held- for-sale measured at fair value under ASC 825 was $314.9 million and $379.5 million, respectively, while the aggregate fair value of mortgage loans held-for-sale was $332.5 million and $385.0 million, respectively, as shown in the above tables. There were no nonaccrual loans or loans past due greater than 90 days and still accruing in the mortgage loans held-for-sale portfolio measured at fair value as of December 31, 2013 and 2012. | |||||||||||||||||||||
The changes in Level 3 assets measured at fair value on a recurring basis during the year ended December 31, 2013 are summarized as follows: | |||||||||||||||||||||
Equity securities | Mortgage | ||||||||||||||||||||
(Dollars in thousands) | Municipal | servicing rights | |||||||||||||||||||
Balance at January 1, 2013 | $ | 30,770 | $ | 22,169 | $ | 6,750 | |||||||||||||||
Total net (losses) gains included in: | |||||||||||||||||||||
Net income (1) | — | (3,328 | ) | 2,196 | |||||||||||||||||
Other comprehensive (loss) income | (296 | ) | 3,322 | — | |||||||||||||||||
Purchases | 22,209 | — | — | ||||||||||||||||||
Issuances | — | — | — | ||||||||||||||||||
Sales | — | — | — | ||||||||||||||||||
Settlements | (16,297 | ) | — | — | |||||||||||||||||
Net transfers into/out of Level 3 | — | — | — | ||||||||||||||||||
Balance at December 31, 2013 | $ | 36,386 | $ | 22,163 | $ | 8,946 | |||||||||||||||
-1 | Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income. | ||||||||||||||||||||
The changes in Level 3 assets measured at fair value on a recurring basis during the year ended December 31, 2012 are summarized as follows: | |||||||||||||||||||||
(Dollars in thousands) | Municipal | Equity securities | Mortgage servicing rights | ||||||||||||||||||
Balance at January 1, 2012 | $ | 24,211 | $ | 18,971 | $ | 6,700 | |||||||||||||||
Total net gains included in: | |||||||||||||||||||||
Net income (1) | — | — | 50 | ||||||||||||||||||
Other comprehensive income | 27 | 3,198 | — | ||||||||||||||||||
Purchases | 20,967 | — | — | ||||||||||||||||||
Issuances | — | — | — | ||||||||||||||||||
Sales | — | — | — | ||||||||||||||||||
Settlements | (12,033 | ) | — | — | |||||||||||||||||
Net transfers out of Level 3 (2) | (2,402 | ) | — | — | |||||||||||||||||
Balance at December 31, 2012 | $ | 30,770 | $ | 22,169 | $ | 6,750 | |||||||||||||||
-1 | Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income. | ||||||||||||||||||||
-2 | During the first quarter of 2012, one municipal security was transferred out of Level 3 into Level 2 as observable market information was available that market participants would use in pricing these securities. Transfers out of Level 3 are recognized at the end of the reporting period. | ||||||||||||||||||||
Also, the Company may be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower of cost or market accounting or impairment charges of individual assets. For assets measured at fair value on a nonrecurring basis that were still held in the balance sheet at the end of the period, the following table provides the carrying value of the related individual assets or portfolios at December 31, 2013. | |||||||||||||||||||||
December 31, 2013 | Twelve Months | ||||||||||||||||||||
Ended | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Fair Value | |||||||||||||||||||||
Losses | |||||||||||||||||||||
(Dollars in thousands) | Total | Level 1 | Level 2 | Level 3 | Recognized | ||||||||||||||||
Impaired loans-collateral based | $ | 55,127 | $ | — | $ | — | $ | 55,127 | $ | 38,430 | |||||||||||
Other real estate owned, including covered other real estate owned (1) | 136,288 | — | — | 136,288 | 10,924 | ||||||||||||||||
Mortgage loans held-for-sale, at lower of cost or market | 1,842 | — | 1,842 | — | — | ||||||||||||||||
Total | $ | 193,257 | $ | — | $ | 1,842 | $ | 191,415 | $ | 49,354 | |||||||||||
-1 | Fair value losses recognized on other real estate owned include valuation adjustments and charge-offs during the respective period. | ||||||||||||||||||||
Impaired loans—A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due pursuant to the contractual terms of the loan agreement. A loan restructured in a troubled debt restructuring is an impaired loan according to applicable accounting guidance. Impairment is measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the fair value of the underlying collateral. Impaired loans are considered a fair value measurement where an allowance is established based on the fair value of collateral. Appraised values, which may require adjustments to market-based valuation inputs, are generally used on real estate collateral-dependent impaired loans. | |||||||||||||||||||||
The Company’s Managed Assets Division is primarily responsible for the valuation of Level 3 measurements of impaired loans. For more information on the Managed Assets Division review of impaired loans refer to Note 5 – Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans. At December 31, 2013, the Company had $162.2 million of impaired loans classified as Level 3. Of the $162.2 million of impaired loans, $55.1 million were measured at fair value based on the underlying collateral of the loan as shown in the table above. The remaining $107.1 million were valued based on discounted cash flows in accordance with ASC 310. | |||||||||||||||||||||
Other real estate owned (including covered other real estate owned)—Other real estate owned is comprised of real estate acquired in partial or full satisfaction of loans and is included in other assets. Other real estate owned is recorded at its estimated fair value less estimated selling costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the allowance for loan losses. Subsequent changes in value are reported as adjustments to the carrying amount and are recorded in other non-interest expense. Gains and losses upon sale, if any, are also charged to other non-interest expense. Fair value is generally based on third party appraisals and internal estimates and is therefore considered a Level 3 valuation. | |||||||||||||||||||||
The Company’s Managed Assets Division and Purchased Assets Divisions are primarily responsible for the valuation of Level 3 measurements for non-covered other real estate owned and covered other real estate owned, respectively. At December 31, 2013, the Company had $136.3 million of other real estate owned classified as Level 3. The unobservable input applied to other real estate owned relates to the valuation adjustment determined by the Company’s appraisals. The impairment adjustments applied to other real estate owned range from 0%-100% of the carrying value prior to impairment adjustments at December 31, 2013, with a weighted average input of 2.94%. An increased impairment adjustment applied to the carrying value results in a decreased valuation. | |||||||||||||||||||||
Mortgage loans held-for-sale, at lower of cost or market—Fair value is based on either quoted prices for the same or similar loans, or values obtained from third parties, or is estimated for portfolios of loans with similar financial characteristics and is therefore considered a Level 2 valuation. | |||||||||||||||||||||
The valuation techniques and significant unobservable inputs used to measure both recurring and non-recurring Level 3 fair value measurements at December 31, 2013 were as follows: | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Fair Value | Valuation Methodology | Significant Unobservable Input | Range | Weighted | Impact to valuation | ||||||||||||||||
of Inputs | Average | from an increased or | |||||||||||||||||||
of Inputs | higher input value | ||||||||||||||||||||
Measured at fair value on a recurring basis: | |||||||||||||||||||||
Municipal Securities | $ | 36,386 | Bond pricing | Equivalent rating | BBB-AA+ | N/A | Increase | ||||||||||||||
Other Equity Securities | 22,163 | Discounted cash flows | Discount rate | 1.94%-3.06% | 2.54% | Decrease | |||||||||||||||
Mortgage Servicing Rights | 8,946 | Discounted cash flows | Discount rate | 10%-13.5% | 10.16% | Decrease | |||||||||||||||
Constant prepayment rate (CPR) | 10%-15% | 11.94% | Decrease | ||||||||||||||||||
Measured at fair value on a non-recurring basis: | |||||||||||||||||||||
Impaired loans—collateral based | 55,127 | Appraisal value | N/A | N/A | N/A | N/A | |||||||||||||||
Other real estate owned | 136,288 | Appraisal value | Property specific impairment adjustment | 0%-100% | 2.94% | Decrease | |||||||||||||||
The Company is required under applicable accounting guidance to report the fair value of all financial instruments on the consolidated statements of condition, including those financial instruments carried at cost. The carrying amounts and estimated fair values of the Company’s financial instruments as of the dates shown: | |||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||
(Dollars in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 263,864 | $ | 263,864 | $ | 315,028 | $ | 315,028 | |||||||||||||
Interest bearing deposits with banks | 495,574 | 495,574 | 1,035,743 | 1,035,743 | |||||||||||||||||
Available-for-sale securities | 2,176,290 | 2,176,290 | 1,796,076 | 1,796,076 | |||||||||||||||||
Trading account securities | 497 | 497 | 583 | 583 | |||||||||||||||||
Brokerage customer receivables | 30,953 | 30,953 | 24,864 | 24,864 | |||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock, at cost | 79,261 | 79,261 | 79,564 | 79,564 | |||||||||||||||||
Mortgage loans held-for-sale, at fair value | 332,485 | 332,485 | 385,033 | 385,033 | |||||||||||||||||
Mortgage loans held-for-sale, at lower of cost or market | 1,842 | 1,857 | 27,167 | 27,568 | |||||||||||||||||
Total loans | 13,243,033 | 13,867,255 | 12,389,030 | 13,053,101 | |||||||||||||||||
Mortgage servicing rights | 8,946 | 8,946 | 6,750 | 6,750 | |||||||||||||||||
Nonqualified deferred compensation assets | 7,222 | 7,222 | 5,532 | 5,532 | |||||||||||||||||
Derivative assets | 48,221 | 48,221 | 53,906 | 53,906 | |||||||||||||||||
FDIC indemnification asset | 85,672 | 85,672 | 208,160 | 208,160 | |||||||||||||||||
Accrued interest receivable and other | 163,732 | 163,732 | 157,157 | 157,157 | |||||||||||||||||
Total financial assets | $ | 16,937,592 | $ | 17,561,829 | $ | 16,484,593 | $ | 17,149,065 | |||||||||||||
Financial Liabilities | |||||||||||||||||||||
Non-maturity deposits | $ | 10,442,077 | $ | 10,442,077 | $ | 9,447,633 | $ | 9,447,633 | |||||||||||||
Deposits with stated maturities | 4,226,712 | 4,242,172 | 4,980,911 | 5,013,757 | |||||||||||||||||
Notes payable | 364 | 364 | 2,093 | 2,093 | |||||||||||||||||
Federal Home Loan Bank advances | 417,762 | 422,750 | 414,122 | 425,431 | |||||||||||||||||
Subordinated notes | — | — | 15,000 | 15,000 | |||||||||||||||||
Other borrowings | 254,740 | 254,740 | 274,411 | 274,411 | |||||||||||||||||
Junior subordinated debentures | 249,493 | 250,672 | 249,493 | 250,428 | |||||||||||||||||
Derivative liabilities | 37,264 | 37,264 | 57,751 | 57,751 | |||||||||||||||||
Accrued interest payable and other | 8,556 | 8,556 | 11,589 | 11,589 | |||||||||||||||||
Total financial liabilities | $ | 15,636,968 | $ | 15,658,595 | $ | 15,453,003 | $ | 15,498,093 | |||||||||||||
Not all the financial instruments listed in the table above are subject to the disclosure provisions of ASC Topic 820, as certain assets and liabilities result in their carrying value approximating fair value. These include cash and cash equivalents, interest bearing deposits with banks, brokerage customer receivables, FHLB and FRB stock, FDIC indemnification asset, accrued interest receivable and accrued interest payable, non-maturity deposits, notes payable, subordinated notes and other borrowings. | |||||||||||||||||||||
The following methods and assumptions were used by the Company in estimating fair values of financial instruments that were not previously disclosed. | |||||||||||||||||||||
Loans. Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are analyzed by type such as commercial, residential real estate, etc. Each category is further segmented by interest rate type (fixed and variable) and term. For variable-rate loans that reprice frequently, estimated fair values are based on carrying values. The fair value of residential loans is based on secondary market sources for securities backed by similar loans, adjusted for differences in loan characteristics. The fair value for other fixed rate loans is estimated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect credit and interest rate risks inherent in the loan. The primary impact of credit risk on the present value of the loan portfolio, however, was accommodated through the use of the allowance for loan losses, which is believed to represent the current fair value of probable incurred losses for purposes of the fair value calculation. In accordance with ASC 820, the Company has categorized loans as a Level 3 fair value measurement. | |||||||||||||||||||||
Deposits with stated maturities. The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently in effect for deposits of similar remaining maturities. In accordance with ASC 820, the Company has categorized deposits with stated maturities as a Level 3 fair value measurement. | |||||||||||||||||||||
Federal Home Loan Bank advances. The fair value of Federal Home Loan Bank advances is obtained from the Federal Home Loan Bank which uses a discounted cash flow analysis based on current market rates of similar maturity debt securities to discount cash flows. In accordance with ASC 820, the Company has categorized Federal Home Loan Bank advances as a Level 3 fair value measurement. | |||||||||||||||||||||
Junior subordinated debentures. The fair value of the junior subordinated debentures is based on the discounted value of contractual cash flows. In accordance with ASC 820, the Company has categorized junior subordinated debentures as a Level 3 fair value measurement. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Shareholders' Equity | ' | ||||||||||||||||
Shareholders’ Equity | |||||||||||||||||
A summary of the Company’s common and preferred stock at December 31, 2013 and 2012 is as follows: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Common Stock: | |||||||||||||||||
Shares authorized | 100,000,000 | 100,000,000 | |||||||||||||||
Shares issued | 46,181,588 | 37,107,684 | |||||||||||||||
Shares outstanding | 46,116,583 | 36,858,355 | |||||||||||||||
Cash dividend per share | $ | 0.18 | $ | 0.18 | |||||||||||||
Preferred Stock: | |||||||||||||||||
Shares authorized | 20,000,000 | 20,000,000 | |||||||||||||||
Shares issued | 126,477 | 176,500 | |||||||||||||||
Shares outstanding | 126,477 | 176,500 | |||||||||||||||
The Company reserves shares of its authorized common stock specifically for its Stock Incentive Plan, its Employee Stock Purchase Plan and its Directors Deferred Fee and Stock Plan. The reserved shares and these plans are detailed in Note 19 -Employee Benefit and Stock Plans. The Company also reserves its authorized common stock for conversion of convertible preferred stock and common stock warrants. | |||||||||||||||||
Tangible Equity Units | |||||||||||||||||
In December 2010, the Company sold 4.6 million 7.50% TEU's at a public offering price of $50.00 per unit. The Company received net proceeds of $222.7 million after deducting underwriting discounts and commissions and estimated offering expenses. Each tangible equity unit was composed of a prepaid common stock purchase contract and a junior subordinated amortizing note due December 15, 2013. The prepaid stock purchase contracts were recorded as surplus (a component of shareholders’ equity), net of issuance costs, and the junior subordinated amortizing notes were recorded as debt within other borrowings. Issuance costs associated with the debt component were recorded as a discount within other borrowings and were amortized over the term of the instrument to December 15, 2013 at which time they were paid off. The Company allocated the proceeds from the issuance of the TEU to equity and debt based on the relative fair values of the respective components of each unit. | |||||||||||||||||
The aggregate fair values assigned to each component of the TEU offering were as follows: | |||||||||||||||||
(Dollars and units in thousands, except unit price) | Equity | Debt | TEU | ||||||||||||||
Component | Component | Total | |||||||||||||||
Units issued (1) | 4,600 | 4,600 | 4,600 | ||||||||||||||
Unit price | $ | 40.271818 | $ | 9.728182 | $ | 50 | |||||||||||
Gross proceeds | 185,250 | 44,750 | 230,000 | ||||||||||||||
Issuance costs, including discount | 5,934 | 1,419 | 7,353 | ||||||||||||||
Net proceeds | $ | 179,316 | $ | 43,331 | $ | 222,647 | |||||||||||
Balance sheet impact | |||||||||||||||||
Other borrowings | — | 43,331 | 43,331 | ||||||||||||||
Surplus | 179,316 | — | 179,316 | ||||||||||||||
-1 | TEUs consisted of two components: one unit of the equity component and one unit of the debt component. | ||||||||||||||||
The fair value of the debt component was determined using a discounted cash flow model using the following assumptions: (1) quarterly cash payments of 7.5%; (2) a maturity date of December 15, 2013; and (3) an assumed discount rate of 9.5%. The discount rate used for estimating the fair value was determined by obtaining yields for comparably-rated issuers trading in the market. The debt component was recorded at fair value, and the discount was amortized using the level yield method over the term of the instrument to the settlement date of December 15, 2013. | |||||||||||||||||
The fair value of the equity component was determined using Black-Scholes valuation models applied to the range of stock prices contemplated by the terms of the TEU and using the following assumptions: (1) risk-free interest rate of 0.95%; (2) expected stock price volatility in the range of 35%-45%; (3) dividend yield plus stock borrow cost of 0.85%; and (4) term of 3.02 years. | |||||||||||||||||
Each junior subordinated amortizing note, which had an initial principal amount of $9.728182, had a stated interest rate of 9.50% per annum, and had a scheduled final installment payment date of December 15, 2013. On each March 15, June 15, September 15 and December 15, the Company paid equal quarterly installments of $0.9375 on each amortizing note. The quarterly installment payable at March 15, 2011, however, was $0.989583. Each payment constituted a payment of interest and a partial repayment of principal. The issuance costs were amortized to interest expense using the effective-interest method. | |||||||||||||||||
Each prepaid common stock purchase contract automatically settled on December 15, 2013 and the Company delivered 1.3333 shares of its common stock based on the applicable market value at that time (the average of the volume weighted average price of Company common stock for the twenty (20) consecutive trading days ending on the third trading day immediately preceding December 15, 2013). Upon settlement, an amount equal to $1.00 per common share issued was reclassified from surplus to common stock. | |||||||||||||||||
Series A Preferred Stock | |||||||||||||||||
In August 2008, the Company issued and sold 50,000 shares of non-cumulative perpetual convertible preferred stock, Series A, liquidation preference $1,000 per share for $50 million in a private transaction. Dividends on the Series A Preferred Stock were payable quarterly in arrears at a rate of 8.00% per annum. The Series A Preferred Stock was convertible into common stock at the option of the holder at a conversion rate of 38.88 shares of common stock per share of Series A Preferred Stock. On July 19, 2013, pursuant to such terms, the holder of the Series A Preferred Stock elected to convert all 50,000 shares of Series A Preferred Stock into 1,944,000 shares of the Company's common stock, no par value. | |||||||||||||||||
Series C Preferred Stock | |||||||||||||||||
In March 2012, the Company issued and sold 126,500 shares of non−cumulative perpetual convertible preferred stock, Series C, liquidation preference $1,000 per share for $126.5 million in an equity offering. If declared, dividends on the Series C Preferred Stock are payable quarterly in arrears at a rate of 5.00% per annum. The Series C Preferred Stock is convertible into common stock at the option of the holder at a conversion rate of 24.3132 shares of common stock per share of Series C Preferred Stock. In 2013, pursuant to such terms, certain holders of the Series C Preferred Stock elected to convert 23 shares of Series C Preferred Stock into 559 shares of the Company's common stock, no par value. On and after April 15, 2017, the Company will have the right under certain circumstances to cause the Series C Preferred Stock to be converted into common stock if the closing price of the Company’s common stock exceeds a certain amount. | |||||||||||||||||
Common Stock Warrants | |||||||||||||||||
Pursuant to the U.S. Department of the Treasury’s Capital Purchase Program, on December 19, 2008, the Company issued to the U.S. Treasury, a warrant to purchase 1,643,295 shares of Wintrust common stock at a per share exercise price of $22.82 and with a term of 10 years. In February 2011, the U.S. Treasury sold all of its interest in the warrant issued to it in a secondary underwritten public offering. At December 31, 2013, the warrant to purchase 1,643,295 shares remained outstanding. | |||||||||||||||||
The Company previously issued other warrants to acquire common stock. These warrants entitle the holders to purchase one share of the Company’s common stock at a purchase price of $30.50 per share. Of the 19,000 warrants previously outstanding, 18,000 were exercised in March 2012 and 1,000 were exercised in February 2013. As a result, none of these warrants were outstanding at December 31, 2013 and 1,000 were outstanding at December 31, 2012. | |||||||||||||||||
Other | |||||||||||||||||
In May 2013, the Company issued 648,286 shares of its common stock in the acquisition of FNBI. In December 2012, the Company issued 372,530 shares of its common stock in the acquisition of HPK. In August 2012, the Company issued 25,493 shares of its common stock in settlement of contingent consideration related to the previously completed acquisition of Great Lakes Advisors, which is in addition to the 529,087 shares issued in July 2011 at the time of the acquisition. In September 2011, the Company issued 353,650 shares of its common stock in the acquisition of ESBI. | |||||||||||||||||
At the January 2014 Board of Directors meeting, a quarterly cash dividend of $0.10 per share ($0.40 on an annualized basis) was declared. It was paid on February 20, 2014 to shareholders of record as of February 6, 2014. | |||||||||||||||||
The following tables summarize the components of other comprehensive income (loss), including the related income tax effects, for the years ending December 31, 2013, 2012 and 2011: | |||||||||||||||||
(In thousands) | Accumulated | Accumulated | Accumulated | Total | |||||||||||||
Unrealized | Unrealized | Foreign | Accumulated | ||||||||||||||
Gains | (Losses) Gains on | Currency | Other | ||||||||||||||
(Losses) on | Derivative | Translation | Comprehensive | ||||||||||||||
Securities | Instruments | Adjustments | Income (Loss) | ||||||||||||||
Balance at January 1, 2013 | $ | 6,710 | $ | (5,292 | ) | $ | 6,293 | $ | 7,711 | ||||||||
Other comprehensive loss during the period, net of tax, before reclassification | (62,182 | ) | (251 | ) | (13,202 | ) | (75,635 | ) | |||||||||
Amount reclassified from accumulated other comprehensive income, net of tax | $ | 1,807 | $ | 3,081 | $ | — | $ | 4,888 | |||||||||
Net other comprehensive (loss) income during the period, net of tax | $ | (60,375 | ) | $ | 2,830 | $ | (13,202 | ) | $ | (70,747 | ) | ||||||
Balance at December 31, 2013 | $ | (53,665 | ) | $ | (2,462 | ) | $ | (6,909 | ) | $ | (63,036 | ) | |||||
Balance at January 1, 2012 | $ | 4,204 | $ | (7,082 | ) | $ | — | $ | (2,878 | ) | |||||||
Other comprehensive income (loss) during the period, net of tax, before reclassification | 5,461 | (1,713 | ) | 6,293 | 10,041 | ||||||||||||
Amount reclassified from accumulated other comprehensive (loss) income, net of tax | (2,955 | ) | 3,503 | — | 548 | ||||||||||||
Net other comprehensive income during the period, net of tax | $ | 2,506 | $ | 1,790 | $ | 6,293 | $ | 10,589 | |||||||||
Balance at December 31, 2012 | $ | 6,710 | $ | (5,292 | ) | $ | 6,293 | $ | 7,711 | ||||||||
Balance at January 1, 2011 | $ | 2,679 | $ | (8,191 | ) | $ | — | $ | (5,512 | ) | |||||||
Other comprehensive income (loss) during the period, net of tax, before reclassifications | 2,605 | (3,818 | ) | — | (1,213 | ) | |||||||||||
Amount reclassified from accumulated other comprehensive (loss) income, net of tax | (1,080 | ) | 4,927 | — | 3,847 | ||||||||||||
Net other comprehensive income during the period, net of tax | $ | 1,525 | $ | 1,109 | $ | — | $ | 2,634 | |||||||||
Balance at December 31, 2011 | $ | 4,204 | $ | (7,082 | ) | $ | — | $ | (2,878 | ) | |||||||
Amount Reclassified from Accumulated Other Comprehensive Income for the Year Ended, | |||||||||||||||||
Details Regarding the Component of Accumulated Other Comprehensive Income | December 31, | Impacted Line on the Consolidated Statements of Income | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Accumulated unrealized gains (losses) on securities | |||||||||||||||||
(Losses) gains included in net income | $ | (3,000 | ) | $ | 4,895 | (Losses) gains on available-for-sale securities, net | |||||||||||
(3,000 | ) | 4,895 | Income before taxes | ||||||||||||||
Tax effect | $ | 1,193 | $ | (1,940 | ) | Income tax expense | |||||||||||
Net of tax | $ | (1,807 | ) | $ | 2,955 | Net income | |||||||||||
Accumulated unrealized (losses) gains on derivative instruments | |||||||||||||||||
Amount reclassified to interest expense on junior subordinated debentures | $ | 5,116 | $ | 5,850 | Interest on junior subordinated debentures | ||||||||||||
(5,116 | ) | (5,850 | ) | Income before taxes | |||||||||||||
Tax effect | $ | 2,035 | $ | 2,347 | Income tax expense | ||||||||||||
Net of tax | $ | (3,081 | ) | $ | (3,503 | ) | Net income |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Segment Information | ' | |||||||||||||||||||
Segment Information | ||||||||||||||||||||
The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management. | ||||||||||||||||||||
The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics and each segment has a different regulatory environment. While the Company’s management monitors each of the fifteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures and economic characteristics. | ||||||||||||||||||||
As of December 31, 2013, management made changes in its approach to measure segment profitability. For purposes of internal segment profitability, management allocates certain intersegment and parent company balances. Management allocates a portion of revenues to the specialty finance segment related to loans originated by the specialty finance segment and sold to the community banking segment. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management segment to the wealth management segment. See Note 11 — Deposits, for more information on these deposits. Finally, expenses incurred at the Wintrust parent company are allocated to each segment based on each segment's risk-weighted assets. | ||||||||||||||||||||
The segment financial information provided in the following tables has been derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the segments are generally the same as those described in the Summary of Significant Accounting Policies in Note 1. The Company evaluates segment performance based on after-tax profit or loss and other appropriate profitability measures common to each segment. | ||||||||||||||||||||
The following is a summary of certain operating information for reportable segments: | ||||||||||||||||||||
(Dollars in thousands) | Community | Specialty | Wealth | Total Operating Segments | Intersegment Eliminations | Consolidated | ||||||||||||||
Banking | Finance | Management | ||||||||||||||||||
2013 | ||||||||||||||||||||
Net interest income | $ | 448,173 | 73,903 | 14,118 | 536,194 | 14,433 | 550,627 | |||||||||||||
Provision for credit losses | 45,396 | 637 | — | 46,033 | — | 46,033 | ||||||||||||||
Non-interest income | 150,543 | 30,890 | 65,597 | 247,030 | (24,633 | ) | 222,397 | |||||||||||||
Non-interest expense | 409,780 | 40,529 | 62,442 | 512,751 | (10,200 | ) | 502,551 | |||||||||||||
Income tax expense | 55,161 | 25,508 | 6,561 | 87,230 | — | 87,230 | ||||||||||||||
Net income | $ | 88,379 | 38,119 | 10,712 | 137,210 | — | 137,210 | |||||||||||||
Total assets at end of year | $ | 15,132,912 | 2,470,832 | 494,039 | 18,097,783 | — | 18,097,783 | |||||||||||||
2012 | — | — | — | |||||||||||||||||
Net interest income | $ | 430,405 | 64,048 | 12,324 | 506,777 | 12,739 | 519,516 | |||||||||||||
Provision for credit losses | 74,975 | 1,461 | — | 76,436 | — | 76,436 | ||||||||||||||
Non-interest income | 166,296 | 26,845 | 54,519 | 247,660 | (21,568 | ) | 226,092 | |||||||||||||
Non-interest expense | 403,228 | 38,394 | 56,247 | 497,869 | (8,829 | ) | 489,040 | |||||||||||||
Income tax expense | 45,170 | 19,660 | 4,106 | 68,936 | — | 68,936 | ||||||||||||||
Net income | $ | 73,328 | 31,378 | 6,490 | 111,196 | — | 111,196 | |||||||||||||
Total assets at end of year | $ | 14,787,221 | 2,295,284 | 437,108 | 17,519,613 | — | 17,519,613 | |||||||||||||
2011 | — | — | ||||||||||||||||||
Net interest income | $ | 370,733 | 72,893 | 11,228 | 454,854 | 6,523 | 461,377 | |||||||||||||
Provision for credit losses | 102,902 | (264 | ) | — | 102,638 | — | 102,638 | |||||||||||||
Non-interest income | 139,248 | 15,133 | 47,755 | 202,136 | (12,438 | ) | 189,698 | |||||||||||||
Non-interest expense | 342,283 | 32,829 | 51,207 | 426,319 | (5,915 | ) | 420,404 | |||||||||||||
Income tax expense | 24,681 | 22,511 | 3,266 | 50,458 | — | 50,458 | ||||||||||||||
Net income | $ | 40,115 | 32,950 | 4,510 | 77,575 | — | 77,575 | |||||||||||||
Total assets at end of year | $ | 13,286,432 | 2,185,214 | 422,162 | 15,893,808 | — | 15,893,808 | |||||||||||||
Condensed_Parent_Company_Finan
Condensed Parent Company Financial Statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Parent Company Financial Statements | ' | ||||||||||||
Condensed Parent Company Financial Statements | |||||||||||||
Condensed parent company only financial statements of Wintrust follow: | |||||||||||||
Statement of Financial Condition | |||||||||||||
December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash | $ | 80,869 | $ | 55,011 | |||||||||
Available-for-sale securities, at fair value | 12,839 | 9,647 | |||||||||||
Investment in and receivable from subsidiaries | 1,971,018 | 1,935,556 | |||||||||||
Loans, net of unearned income | 3,768 | 1,760 | |||||||||||
Less: Allowance for loan losses | 81 | — | |||||||||||
Net Loans | 3,687 | 1,760 | |||||||||||
Goodwill | 8,371 | 8,347 | |||||||||||
Other assets | 113,930 | 111,786 | |||||||||||
Total assets | $ | 2,190,714 | $ | 2,122,107 | |||||||||
Liabilities and Shareholders’ Equity | |||||||||||||
Other liabilities | $ | 21,292 | $ | 15,899 | |||||||||
Notes payable | — | 1,000 | |||||||||||
Subordinated notes | — | 15,000 | |||||||||||
Other borrowings | 19,340 | 36,010 | |||||||||||
Junior subordinated debentures | 249,493 | 249,493 | |||||||||||
Shareholders’ equity | 1,900,589 | 1,804,705 | |||||||||||
Total liabilities and shareholders’ equity | $ | 2,190,714 | $ | 2,122,107 | |||||||||
Statements of Income | |||||||||||||
Years Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Dividends and interest from subsidiaries | $ | 114,241 | $ | 47,295 | $ | 30,783 | |||||||
Gains on available-for-sale securities, net | 111 | 64 | 164 | ||||||||||
Other income | 4,529 | 605 | (487 | ) | |||||||||
Total income | 118,881 | 47,964 | 30,460 | ||||||||||
Expenses | |||||||||||||
Interest expense | 13,424 | 16,840 | 21,342 | ||||||||||
Salaries and employee benefits | 17,831 | 20,042 | 12,435 | ||||||||||
Other expenses | 24,739 | 27,428 | 14,037 | ||||||||||
Total expenses | 55,994 | 64,310 | 47,814 | ||||||||||
Income (loss) before income taxes and equity in undistributed loss of subsidiaries | 62,887 | (16,346 | ) | (17,354 | ) | ||||||||
Income tax benefit | 18,599 | 23,127 | 16,573 | ||||||||||
Income (loss) before equity in undistributed net income of subsidiaries | 81,486 | 6,781 | (781 | ) | |||||||||
Equity in undistributed net income of subsidiaries | 55,724 | 104,415 | 78,356 | ||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||
Statements of Cash Flows | |||||||||||||
Years Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Operating Activities: | |||||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||
Adjustments to reconcile net income to net cash provided by (used for) operating activities | |||||||||||||
Provision for credit losses | 1,765 | 8,050 | 608 | ||||||||||
Gains on available-for-sale securities, net | (111 | ) | (64 | ) | (164 | ) | |||||||
Depreciation and amortization | 3,744 | 3,072 | 2,178 | ||||||||||
Deferred income tax expense (benefit) | 1,217 | 2,224 | (1,785 | ) | |||||||||
Stock-based compensation expense | 6,799 | 9,072 | 2,008 | ||||||||||
Tax (expense) benefit from stock-based compensation arrangements | (831 | ) | 1,392 | 129 | |||||||||
Excess tax benefits from stock-based compensation arrangements | (112 | ) | (483 | ) | (19 | ) | |||||||
Increase in other assets | (3,051 | ) | (53,892 | ) | (28,389 | ) | |||||||
(Decrease) increase in other liabilities | (4,517 | ) | (1,619 | ) | 122 | ||||||||
Equity in undistributed net income of subsidiaries | (55,724 | ) | (104,415 | ) | (78,356 | ) | |||||||
Net Cash Provided by (Used for) Operating Activities | 86,389 | (25,467 | ) | (26,093 | ) | ||||||||
Investing Activities: | |||||||||||||
Capital contributions to subsidiaries, net | (8,293 | ) | (53,807 | ) | (22,361 | ) | |||||||
Other investing activity, net | (21,206 | ) | (12,284 | ) | 440 | ||||||||
Net Cash Used for Investing Activities | (29,499 | ) | (66,091 | ) | (21,921 | ) | |||||||
Financing Activities: | |||||||||||||
(Decrease) increase in notes payable and other borrowings, net | (17,860 | ) | (44,887 | ) | 36,337 | ||||||||
Repayment of subordinated note | (15,000 | ) | (20,000 | ) | (15,000 | ) | |||||||
Excess tax benefits from stock-based compensation arrangements | 112 | 483 | 19 | ||||||||||
Net proceeds from issuance of Series C preferred stock | — | 122,690 | — | ||||||||||
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants | 19,113 | 14,891 | 3,586 | ||||||||||
Dividends paid | (13,893 | ) | (13,157 | ) | (10,344 | ) | |||||||
Common stock repurchases | (3,504 | ) | (7,726 | ) | (112 | ) | |||||||
Net Cash (Used For) Provided by Financing Activities | (31,032 | ) | 52,294 | 14,486 | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 25,858 | (39,264 | ) | (33,528 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Year | 55,011 | 94,275 | 127,803 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 80,869 | $ | 55,011 | $ | 94,275 | |||||||
Statements of Cash Flows | |||||||||||||
Years Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Operating Activities: | |||||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||
Adjustments to reconcile net income to net cash provided by (used for) operating activities | |||||||||||||
Provision for credit losses | 1,765 | 8,050 | 608 | ||||||||||
Gains on available-for-sale securities, net | (111 | ) | (64 | ) | (164 | ) | |||||||
Depreciation and amortization | 3,744 | 3,072 | 2,178 | ||||||||||
Deferred income tax expense (benefit) | 1,217 | 2,224 | (1,785 | ) | |||||||||
Stock-based compensation expense | 6,799 | 9,072 | 2,008 | ||||||||||
Tax (expense) benefit from stock-based compensation arrangements | (831 | ) | 1,392 | 129 | |||||||||
Excess tax benefits from stock-based compensation arrangements | (112 | ) | (483 | ) | (19 | ) | |||||||
Increase in other assets | (3,051 | ) | (53,892 | ) | (28,389 | ) | |||||||
(Decrease) increase in other liabilities | (4,517 | ) | (1,619 | ) | 122 | ||||||||
Equity in undistributed net income of subsidiaries | (55,724 | ) | (104,415 | ) | (78,356 | ) | |||||||
Net Cash Provided by (Used for) Operating Activities | 86,389 | (25,467 | ) | (26,093 | ) | ||||||||
Investing Activities: | |||||||||||||
Capital contributions to subsidiaries, net | (8,293 | ) | (53,807 | ) | (22,361 | ) | |||||||
Other investing activity, net | (21,206 | ) | (12,284 | ) | 440 | ||||||||
Net Cash Used for Investing Activities | (29,499 | ) | (66,091 | ) | (21,921 | ) | |||||||
Financing Activities: | |||||||||||||
(Decrease) increase in notes payable and other borrowings, net | (17,860 | ) | (44,887 | ) | 36,337 | ||||||||
Repayment of subordinated note | (15,000 | ) | (20,000 | ) | (15,000 | ) | |||||||
Excess tax benefits from stock-based compensation arrangements | 112 | 483 | 19 | ||||||||||
Net proceeds from issuance of Series C preferred stock | — | 122,690 | — | ||||||||||
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants | 19,113 | 14,891 | 3,586 | ||||||||||
Dividends paid | (13,893 | ) | (13,157 | ) | (10,344 | ) | |||||||
Common stock repurchases | (3,504 | ) | (7,726 | ) | (112 | ) | |||||||
Net Cash (Used For) Provided by Financing Activities | (31,032 | ) | 52,294 | 14,486 | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 25,858 | (39,264 | ) | (33,528 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Year | 55,011 | 94,275 | 127,803 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 80,869 | $ | 55,011 | $ | 94,275 | |||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||
Earnings Per Share | ' | ||||||||||||||
Earnings Per Share | |||||||||||||||
The following table sets forth the computation of basic and diluted earnings per common share for 2013 , 2012 and 2011: | |||||||||||||||
(In thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||||
Less: Preferred stock dividends and discount accretion | 8,395 | 9,093 | 4,128 | ||||||||||||
Net income applicable to common shares—Basic | (A) | 128,815 | 102,103 | 73,447 | |||||||||||
Add: Dividends on convertible preferred stock | 8,325 | 8,955 | — | ||||||||||||
Net income applicable to common shares—Diluted | (B) | 137,140 | 111,058 | 73,447 | |||||||||||
Weighted average common shares outstanding | (C) | 38,699 | 36,365 | 35,355 | |||||||||||
Effect of dilutive potential common shares: | |||||||||||||||
Common stock equivalents | 7,108 | 7,313 | 8,636 | ||||||||||||
Convertible preferred stock, if dilutive | 4,141 | 4,356 | — | ||||||||||||
Total dilutive potential common shares | 11,249 | 11,669 | 8,636 | ||||||||||||
Weighted average common shares and effect of dilutive potential common shares | (D) | 49,948 | 48,034 | 43,991 | |||||||||||
Net income per common share: | |||||||||||||||
Basic | (A/C) | $ | 3.33 | $ | 2.81 | $ | 2.08 | ||||||||
Diluted | (B/D) | $ | 2.75 | $ | 2.31 | $ | 1.67 | ||||||||
Potentially dilutive common shares can result from stock options, restricted stock unit awards, stock warrants, the Company’s convertible preferred stock, tangible equity unit shares and shares to be issued under the ESPP and the DDFS Plan, being treated as if they had been either exercised or issued, computed by application of the treasury stock method. While potentially dilutive common shares are typically included in the computation of diluted earnings per share, potentially dilutive common shares are excluded from this computation in periods in which the effect would reduce the loss per share or increase the income per share. For diluted earnings per share, net income applicable to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would reduce the loss per share or increase the income per share, net income applicable to common shares is not adjusted by the associated preferred dividends. |
Quarterly_Financial_Summary_Un
Quarterly Financial Summary (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Quarterly Financial Summary (Unaudited) | ' | ||||||||||||||||||||||||||
Quarterly Financial Summary (Unaudited) | |||||||||||||||||||||||||||
The following is a summary of quarterly financial information for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||
2013 Quarters | 2012 Quarters | ||||||||||||||||||||||||||
(In thousands, except per share data) | First | Second | Third | Fourth | First | Second | Third | Fourth | |||||||||||||||||||
Interest income | $ | 152,313 | 156,646 | 161,168 | 160,582 | $ | 156,486 | 155,691 | 158,201 | 156,643 | |||||||||||||||||
Interest expense | 21,600 | 20,822 | 19,386 | 18,274 | 30,591 | 27,421 | 25,626 | 23,867 | |||||||||||||||||||
Net interest income | 130,713 | 135,824 | 141,782 | 142,308 | 125,895 | 128,270 | 132,575 | 132,776 | |||||||||||||||||||
Provision for credit losses | 15,687 | 15,382 | 11,114 | 3,850 | 17,400 | 20,691 | 18,799 | 19,546 | |||||||||||||||||||
Net interest income after provision for credit losses | 115,026 | 120,442 | 130,668 | 138,458 | 108,495 | 107,579 | 113,776 | 113,230 | |||||||||||||||||||
Non-interest income, excluding net securities gains (losses) | 57,128 | 63,993 | 54,587 | 49,689 | 46,207 | 49,826 | 62,536 | 62,628 | |||||||||||||||||||
Net securities gains (losses) | 251 | 2 | 75 | (3,328 | ) | 816 | 1,109 | 409 | 2,561 | ||||||||||||||||||
Non-interest expense | 120,119 | 128,187 | 127,248 | 126,997 | 117,759 | 117,185 | 124,548 | 129,548 | |||||||||||||||||||
Income before income taxes | 52,286 | 56,250 | 58,082 | 57,822 | 37,759 | 41,329 | 52,173 | 48,871 | |||||||||||||||||||
Income tax expense | 20,234 | 21,943 | 22,519 | 22,534 | 14,549 | 15,734 | 19,871 | 18,782 | |||||||||||||||||||
Net income | $ | 32,052 | 34,307 | 35,563 | 35,288 | $ | 23,210 | 25,595 | 32,302 | 30,089 | |||||||||||||||||
Preferred stock dividends and discount accretion | 2,616 | 2,617 | 1,581 | 1,581 | 1,246 | 2,644 | 2,616 | 2,616 | |||||||||||||||||||
Net income applicable to common shares | $ | 29,436 | 31,690 | 33,982 | 33,707 | $ | 21,964 | 22,951 | 29,686 | 27,473 | |||||||||||||||||
Net income per common share: | |||||||||||||||||||||||||||
Basic | 0.8 | 0.85 | 0.86 | 0.82 | 0.61 | 0.63 | 0.82 | 0.75 | |||||||||||||||||||
Diluted | 0.65 | 0.69 | 0.71 | 0.7 | 0.5 | 0.52 | 0.66 | 0.61 | |||||||||||||||||||
Cash dividends declared per common share | 0.09 | — | 0.09 | — | 0.09 | — | 0.09 | — | |||||||||||||||||||
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Principles of Consolidation | ' | ||||||||||||
Principles of Consolidation | |||||||||||||
The consolidated financial statements of Wintrust include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. | |||||||||||||
This securitization transaction was accounted for as a secured borrowing and the securitization entity is treated as a consolidated subsidiary of the Company under ASC 810, “Consolidation”. The securitization entity’s receivables underlying third-party investors’ interests were recorded in loans, net of unearned income, excluding covered loans, an allowance for loan losses was established and the related debt issued was reported in secured borrowings—owed to securitization investors. Additionally, the Company’s retained interests in the transaction, principally consisting of subordinated securities, cash collateral, and overcollateralization of loans, constituted intercompany positions, which were eliminated in the preparation of the Company’s Consolidated Statements of Condition. | |||||||||||||
Earnings per Share | ' | ||||||||||||
Earnings per Share | |||||||||||||
Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The weighted-average number of common shares outstanding is increased by the assumed conversion of outstanding convertible preferred stock and tangible equity unit shares from the beginning of the year or date of issuance, if later, and the number of common shares that would be issued assuming the exercise of stock options, the issuance of restricted shares and stock warrants using the treasury stock method. The adjustments to the weighted-average common shares outstanding are only made when such adjustments will dilute earnings per common share. Net income applicable to common shares used in the diluted earnings per share calculation can be affected by the conversion of the Company's preferred stock. Where the effect of this conversion would reduce the loss per share or increase the income per share, net income applicable to common shares is not adjusted by the associated preferred dividends. | |||||||||||||
Potentially dilutive common shares can result from stock options, restricted stock unit awards, stock warrants, the Company’s convertible preferred stock, tangible equity unit shares and shares to be issued under the ESPP and the DDFS Plan, being treated as if they had been either exercised or issued, computed by application of the treasury stock method. While potentially dilutive common shares are typically included in the computation of diluted earnings per share, potentially dilutive common shares are excluded from this computation in periods in which the effect would reduce the loss per share or increase the income per share. For diluted earnings per share, net income applicable to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would reduce the loss per share or increase the income per share, net income applicable to common shares is not adjusted by the associated preferred dividends. | |||||||||||||
Business Combinations | ' | ||||||||||||
Business Combinations | |||||||||||||
The Company accounts for business combinations under the acquisition method of accounting in accordance with ASC 805, “Business Combinations” (“ASC 805”). The Company recognizes the full fair value of the assets acquired and liabilities assumed, immediately expenses transaction costs and accounts for restructuring plans separately from the business combination. There is no separate recognition of the acquired allowance for loan losses on the acquirer’s balance sheet as credit related factors are incorporated directly into the fair value of the loans recorded at the acquisition date. The excess of the cost of the acquisition over the fair value of the net tangible and intangible assets acquired is recorded as goodwill. Alternatively, a gain is recorded equal to the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid. | |||||||||||||
Results of operations of the acquired business are included in the income statement from the effective date of acquisition. | |||||||||||||
Loans comprise the majority of the assets acquired in nearly all of these FDIC-assisted transactions since 2010, most of which are subject to loss sharing agreements with the FDIC whereby the FDIC has agreed to reimburse the Company for 80% of losses incurred on the purchased loans, OREO, and certain other assets. Additionally, the loss share agreements with the FDIC require the Company to reimburse the FDIC in the event that actual losses on covered assets are lower than the original loss estimates agreed upon with the FDIC with respect of such assets in the loss share agreements. The Company refers to the loans subject to these loss-sharing agreements as “covered loans” and uses the term “covered assets” to refer to covered loans, covered OREO and certain other covered assets. The agreements with the FDIC require that the Company follow certain servicing procedures or risk losing the FDIC reimbursement of covered asset losses. | |||||||||||||
On their respective acquisition dates in 2012, the Company announced that its wholly−owned subsidiary banks, Old Plank Trail Bank, Hinsdale Bank and Barrington Bank, acquired certain assets and liabilities and the banking operations of First United Bank, Second Federal and Charter National, respectively, in FDIC−assisted transactions. The loans covered by the loss sharing agreements are classified and presented as covered loans and the estimated reimbursable losses are recorded as an FDIC indemnification asset in the Consolidated Statements of Condition. The Company recorded the acquired assets and liabilities at their estimated fair values at the acquisition date. The fair value for loans reflected expected credit losses at the acquisition date. Therefore, the Company will only recognize a provision for credit losses and charge-offs on the acquired loans for any further credit deterioration subsequent to the acquisition date. See Note 5 - Allowance for Loan Losses, Allowance for Losses on Lending−Related Commitments and Impaired Loans for further discussion of the allowance on covered loans. | |||||||||||||
The loss share agreements with the FDIC cover realized losses on loans, foreclosed real estate and certain other assets. These loss share assets are measured separately from the loan portfolios because they are not contractually embedded in the loans and are not transferable with the loans should the Company choose to dispose of them. Fair values at the acquisition dates were estimated based on projected cash flows available for loss−share based on the credit adjustments estimated for each loan pool and the loss share percentages. The loss share assets are recorded as FDIC indemnification assets on the Consolidated Statements of Condition. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses will reduce the FDIC indemnification assets. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will also reduce the FDIC indemnification assets. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. Additions to expected losses will require an increase to the allowance for loan losses and a corresponding increase to the FDIC indemnification assets. The corresponding accretion is recorded as a component of non−interest income on the Consolidated Statements of Income. | |||||||||||||
Cash Equivalents | ' | ||||||||||||
Cash Equivalents | |||||||||||||
For purposes of the consolidated statements of cash flows, Wintrust considers cash on hand, cash items in the process of collection, non-interest bearing amounts due from correspondent banks, federal funds sold and securities purchased under resale agreements with original maturities of three months or less, to be cash equivalents. | |||||||||||||
Securities | ' | ||||||||||||
Securities | |||||||||||||
The Company classifies securities upon purchase in one of three categories: trading, held-to-maturity, or available-for-sale. Debt and equity securities held for resale are classified as trading securities. Debt securities for which the Company has the ability and positive intent to hold until maturity are classified as held-to-maturity. All other securities are classified as available-for-sale as they may be sold prior to maturity in response to changes in the Company’s interest rate risk profile, funding needs, demand for collateralized deposits by public entities or other reasons. | |||||||||||||
Held-to-maturity securities are stated at amortized cost, which represents actual cost adjusted for premium amortization and discount accretion using methods that approximate the effective interest method. Available-for-sale securities are stated at fair value, with unrealized gains and losses, net of related taxes, included in shareholders’ equity as a separate component of other comprehensive income. | |||||||||||||
Trading account securities are stated at fair value. Realized and unrealized gains and losses from sales and fair value adjustments are included in other non-interest income. | |||||||||||||
Declines in the fair value of investment securities available for sale (with certain exceptions for debt securities noted below) that are deemed to be other-than-temporary are charged to earnings as a realized loss, and a new cost basis for the securities is established. In evaluating other-than-temporary impairment, management considers the length of time and extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of debt securities below amortized cost are deemed to be other-than-temporary in circumstances where: (1) the Corporation has the intent to sell a security; (2) it is more likely than not that the Corporation will be required to sell the security before recovery of its amortized cost basis; or (3) the Corporation does not expect to recover the entire amortized cost basis of the security. If the Corporation intends to sell a security or if it is more likely than not that the Corporation will be required to sell the security before recovery, an other-than-temporary impairment write-down is recognized in earnings equal to the difference between the security’s amortized cost basis and its fair value. If an entity does not intend to sell the security or it is not more likely than not that it will be required to sell the security before recovery, the other-than-temporary impairment write-down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to all other factors, which is recognized in other comprehensive income. | |||||||||||||
Interest and dividends, including amortization of premiums and accretion of discounts, are recognized as interest income when earned. Realized gains and losses on sales (using the specific identification method) and declines in value judged to be other-than-temporary are included in non-interest income. | |||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | ' | ||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | |||||||||||||
Investments in Federal Home Loan Bank and Federal Reserve Bank stock are restricted as to redemption and are carried at cost. | |||||||||||||
Securities Purchased Under Resale Agreements and Securities Sold Under Repurchase Agreements | ' | ||||||||||||
Securities Purchased Under Resale Agreements and Securities Sold Under Repurchase Agreements | |||||||||||||
Securities purchased under resale agreements and securities sold under repurchase agreements are generally treated as collateralized financing transactions and are recorded at the amount at which the securities were acquired or sold plus accrued interest. Securities, generally U.S. government and Federal agency securities, pledged as collateral under these financing arrangements cannot be sold by the secured party. The fair value of collateral either received from or provided to a third party is monitored and additional collateral is obtained or requested to be returned as deemed appropriate. | |||||||||||||
Brokerage Customer Receivables | ' | ||||||||||||
Brokerage Customer Receivables | |||||||||||||
The Company, under an agreement with an out-sourced securities clearing firm, extends credit to its brokerage customers to finance their purchases of securities on margin. The Company receives income from interest charged on such extensions of credit. Brokerage customer receivables represent amounts due on margin balances. Securities owned by customers are held as collateral for these receivables. | |||||||||||||
Mortgage Loans Held-for-Sale | ' | ||||||||||||
Mortgage Loans Held-for-Sale | |||||||||||||
Mortgage loans are classified as held-for-sale when originated or acquired with the intent to sell the loan into the secondary market. Market conditions or other developments may change management’s intent with respect to the disposition of these loans and loans previously classified as mortgage loans held-for-sale may be reclassified to the loan portfolio. | |||||||||||||
ASC 825, “Financial Instruments” provides entities with an option to report selected financial assets and liabilities at fair value. Mortgage loans originated by Wintrust Mortgage are measured at fair value which is determined by reference to investor prices for loan products with similar characteristics. Changes in fair value are recognized in mortgage banking revenue. | |||||||||||||
Loans, Allowance for Loan Losses, Allowance for Covered Loan Losses and Allowance for Losses on Lending-Related Commitments | ' | ||||||||||||
Loans, Allowance for Loan Losses, Allowance for Covered Loan Losses and Allowance for Losses on Lending-Related Commitments | |||||||||||||
Loans are generally reported at the principal amount outstanding, net of unearned income. Interest income is recognized when earned. Loan origination fees and certain direct origination costs are deferred and amortized over the expected life of the loan as an adjustment to the yield using methods that approximate the effective interest method. Finance charges on premium finance receivables are earned over the term of the loan, using a method which approximates the effective yield method. | |||||||||||||
Interest income is not accrued on loans where management has determined that the borrowers may be unable to meet contractual principal and/or interest obligations, or where interest or principal is 90 days or more past due, unless the loans are adequately secured and in the process of collection. Cash receipts on non-accrual loans are generally applied to the principal balance until the remaining balance is considered collectible, at which time interest income may be recognized when received. | |||||||||||||
The Company maintains its allowance for loan losses at a level believed appropriate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of internal problem loan reporting system loans and actual loss experience, changes in the composition of the loan portfolio, historical loss experience, changes in lending policies and procedures, including underwriting standards and collections, charge-off and recovery practices, changes in experience, ability and depth of lending management and staff, changes in national and local economic and business conditions and developments, including the condition of various market segments and changes in the volume and severity of past due and classified loans and trends in the volume of non-accrual loans, troubled debt restructurings and other loan modifications. The allowance for loan losses also includes an element for estimated probable but undetected losses and for imprecision in the credit risk models used to calculate the allowance. Loans with a credit risk rating of a 6 through 9 are reviewed on a monthly basis to determine if (a) an amount is deemed uncollectible (a charge-off) or (b) it is probable that the Company will be unable to collect amounts due in accordance with the original contractual terms of the loan (an impaired loan). If a loan is impaired, the carrying amount of the loan is compared to the expected payments to be received, discounted at the loan’s original rate, or for collateral dependent loans, to the fair value of the collateral less the estimated cost to sell. Any shortfall is recorded as a specific reserve. For loans with a credit risk rating of 7 or better, reserves are established based on the type of loan collateral, if any, and the assigned credit risk rating. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on the average historical loss experience over a three year period, and consideration of current environmental factors and economic trends, all of which may be susceptible to significant change. Loan losses are charged off against the allowance, while recoveries are credited to the allowance. A provision for credit losses is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least quarterly and more frequently if deemed necessary. | |||||||||||||
Under accounting guidance applicable to loans acquired with evidence of credit quality deterioration since origination, the excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized in interest income over the remaining estimated life of the loans, using the effective-interest method. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. Changes in the expected cash flows from the date of acquisition will either impact the accretable yield or result in a charge to the provision for credit losses. Subsequent decreases to expected principal cash flows will result in a charge to provision for credit losses and a corresponding increase to allowance for loan losses. Subsequent increases in expected principal cash flows will result in recovery of any previously recorded allowance for loan losses, to the extent applicable, and a reclassification from nonaccretable difference to accretable yield for any remaining increase. All changes in expected interest cash flows, including the impact of prepayments, will result in reclassifications to/from nonaccretable differences. | |||||||||||||
In estimating expected losses, the Company evaluates loans for impairment in accordance ASC 310, “Receivables.” A loan is considered impaired when, based on current information and events, it is probable that a creditor will be unable to collect all amounts due pursuant to the contractual terms of the loan. Impaired loans include non-accrual loans, restructured loans or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest. Impairment is measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the fair value of the underlying collateral less costs to sell. If the estimated fair value of the loan is less than the recorded book value, a valuation allowance is established as a component of the allowance for loan losses. For restructured loans in which impairment is calculated by the present value of future cash flows, the Company records interest income representing the decrease in impairment resulting from the passage of time during the respective period, which differs from interest income from contractually required interest on these specific loans. | |||||||||||||
The Company also maintains an allowance for lending-related commitments, specifically unfunded loan commitments and letters of credit, to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for loan losses. This allowance is included in other liabilities on the statement of condition while the corresponding provision for these losses is recorded as a component of the provision for credit losses. | |||||||||||||
In conjunction with FDIC-assisted transactions, the Company entered into loss share agreements with the FDIC. Additional expected losses, to the extent such expected losses result in the recognition of an allowance for loan losses, will increase the FDIC indemnification asset. The allowance for loan losses for loans acquired in FDIC-assisted transactions is determined without giving consideration to the amounts recoverable through loss share agreements (since the loss share agreements are separately accounted for and thus presented “gross” on the balance sheet). On the Consolidated Statements of Income, the provision for credit losses is reported net of changes in the amount recoverable under the loss share agreements. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will reduce the FDIC indemnification asset. Additions to expected losses will require an increase to the allowance for loan losses, and a corresponding increase to the FDIC indemnification asset. See "FDIC-Assisted Transactions" within Note 8 - Business Combinations for more detail. | |||||||||||||
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | ' | ||||||||||||
Mortgage Servicing Rights | |||||||||||||
Mortgage Servicing Rights (“MSRs”) are recorded in the Consolidated Statements of Condition at fair value in accordance with ASC 860, “Transfers and Servicing.” The Company originates mortgage loans for sale to the secondary market, the majority of which are sold without retaining servicing rights. There are certain loans, however, that are originated and sold with servicing rights retained. MSRs associated with loans originated and sold, where servicing is retained, are capitalized at the time of sale at fair value based on the future net cash flows expected to be realized for performing the servicing activities, and included in other assets in the Consolidated Statements of Condition. The change in the fair value of MSRs is recorded as a component of mortgage banking revenue in non-interest income in the Consolidated Statements of Income. For purposes of measuring fair value, a third party valuation is obtained. This valuation stratifies the servicing rights into pools based on homogenous characteristics, such as product type and interest rate. The fair value of each servicing rights pool is calculated based on the present value of estimated future cash flows using a discount rate commensurate with the risk associated with that pool, given current market conditions. Estimates of fair value include assumptions about prepayment speeds, interest rates and other factors which are subject to change over time. Changes in these underlying assumptions could cause the fair value of MSRs to change significantly in the future. | |||||||||||||
The Company recognizes MSR assets upon the sale of residential real estate loans when it retains the obligation to service the loans and the servicing fee is more than adequate compensation. The recognition of MSR assets and subsequent change in fair value are recognized in mortgage banking revenue. MSRs are subject to changes in value from actual and expected prepayment of the underlying loans. The Company does not specifically hedge the value of its MSRs. | |||||||||||||
The Company uses a third party to assist in the valuation of its MSRs. Fair values are determined by using a discounted cash flow model that incorporates the objective characteristics of the portfolio as well as subjective valuation parameters that purchasers of servicing would apply to such portfolios sold into the secondary market. The subjective factors include loan prepayment speeds, interest rates, servicing costs and other economic factors. | |||||||||||||
Premises and Equipment | ' | ||||||||||||
Premises and Equipment | |||||||||||||
Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. Useful lives range from two to ten years for furniture, fixtures and equipment, two to five years for software and computer-related equipment and seven to 39 years for buildings and improvements. Land improvements are amortized over a period of 15 years and leasehold improvements are amortized over the shorter of the useful life of the improvement or the term of the respective lease. Land and antique furnishings and artwork are not subject to depreciation. Expenditures for major additions and improvements are capitalized, and maintenance and repairs are charged to expense as incurred. Internal costs related to the configuration and installation of new software and the modification of existing software that provides additional functionality are capitalized. | |||||||||||||
Long-lived depreciable assets are evaluated periodically for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of a long-lived asset are less than its carrying value. In that event, a loss is recognized for the difference between the carrying value and the estimated fair value of the asset based on a quoted market price, if applicable, or a discounted cash flow analysis. Impairment losses are recognized in other non-interest expense. | |||||||||||||
FDIC Indemnification Asset | ' | ||||||||||||
FDIC Indemnification Asset | |||||||||||||
In conjunction with FDIC-assisted transactions, the Company entered into loss share agreements with the FDIC. These agreements cover realized losses on loans, foreclosed real estate and certain other assets. These loss share assets are measured separately from the loan portfolios because they are not contractually embedded in the loans and are not transferable with the loans should the Company choose to dispose of them. Fair values at the acquisition dates were estimated based on projected cash flows available for loss-share based on the credit adjustments estimated for each loan pool and the loss share percentages. The loss share assets are also separately measured from the related loans and foreclosed real estate and recorded as FDIC indemnification assets on the Consolidated Statements of Condition. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses will reduce the loss share assets. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will also reduce the loss share assets. Additional expected losses, to the extent such expected losses result in the recognition of an allowance for loan losses, will increase the loss share assets. The corresponding accretion is recorded as a component of non-interest income on the Consolidated Statements of Income. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. | |||||||||||||
Other Real Estate Owned | ' | ||||||||||||
Other Real Estate Owned | |||||||||||||
Other real estate owned is comprised of real estate acquired in partial or full satisfaction of loans and is included in other assets. Other real estate owned is recorded at its estimated fair value less estimated selling costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the allowance for loan losses. Subsequent changes in value are reported as adjustments to the carrying amount and are recorded in other non-interest expense. Gains and losses upon sale, if any, are also charged to other non-interest expense. | |||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||
Goodwill and Other Intangible Assets | |||||||||||||
Goodwill represents the excess of the cost of an acquisition over the fair value of net assets acquired. Other intangible assets represent purchased assets that also lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. In accordance with accounting standards, goodwill is not amortized, but rather is tested for impairment on an annual basis or more frequently when events warrant, using a qualitative or quantitative approach. Intangible assets which have finite lives are amortized over their estimated useful lives and also are subject to impairment testing. All of the Company’s other intangible assets have finite lives and are amortized over varying periods not exceeding twenty years. | |||||||||||||
Bank-Owned Life Insurance | ' | ||||||||||||
Bank-Owned Life Insurance | |||||||||||||
The Company owns BOLI on certain executives. BOLI balances are recorded at their cash surrender values and are included in other assets. Changes in the cash surrender values are included in non-interest income. | |||||||||||||
Derivative Instruments | ' | ||||||||||||
Derivative Instruments | |||||||||||||
The Company enters into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the future cash flows or the value of certain assets and liabilities. The Company is also required to recognize certain contracts and commitments, including certain commitments to fund mortgage loans held-for-sale, as derivatives when the characteristics of those contracts and commitments meet the definition of a derivative. The Company accounts for derivatives in accordance with ASC 815, “Derivatives and Hedging”, which requires that all derivative instruments be recorded in the statement of condition at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship. | |||||||||||||
Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset or liability attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Formal documentation of the relationship between a derivative instrument and a hedged asset or liability, as well as the risk-management objective and strategy for undertaking each hedge transaction and an assessment of effectiveness is required at inception to apply hedge accounting. In addition, formal documentation of ongoing effectiveness testing is required to maintain hedge accounting. | |||||||||||||
Fair value hedges are accounted for by recording the changes in the fair value of the derivative instrument and the changes in the fair value related to the risk being hedged of the hedged asset or liability on the statement of condition with corresponding offsets recorded in the income statement. The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the interest income or expense recorded on the hedged asset or liability. | |||||||||||||
Cash flow hedges are accounted for by recording the changes in the fair value of the derivative instrument on the statement of condition as either a freestanding asset or liability, with a corresponding offset recorded in other comprehensive income within shareholders’ equity, net of deferred taxes. Amounts are reclassified from accumulated other comprehensive income to interest expense in the period or periods the hedged forecasted transaction affects earnings. | |||||||||||||
Under both the fair value and cash flow hedge scenarios, changes in the fair value of derivatives not considered to be highly effective in hedging the change in fair value or the expected cash flows of the hedged item are recognized in earnings as non-interest income during the period of the change. | |||||||||||||
Derivative instruments that are not designated as hedges according to accounting guidance are reported on the statement of condition at fair value and the changes in fair value are recognized in earnings as non-interest income during the period of the change. | |||||||||||||
Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as derivatives and are not designated in hedging relationships. Fair values of these mortgage derivatives are estimated based on changes in mortgage rates from the date of the commitments. Changes in the fair values of these derivatives are included in mortgage banking revenue. | |||||||||||||
Forward currency contracts used to manage foreign exchange risk associated with certain foreign currency denominated assets are accounted for as derivatives and are not designated in hedging relationships. Foreign currency derivatives are recorded at fair value based on prevailing currency exchange rates at the measurement date. Changes in the fair values of these derivatives resulting from fluctuations in currency rates are recognized in earnings as non-interest income during the period of change. | |||||||||||||
Periodically, the Company sells options to an unrelated bank or dealer for the right to purchase certain securities held within the banks’ investment portfolios (“covered call options”). These option transactions are designed primarily as an economic hedge to increase the total return associated with holding these securities as earning assets. These transactions are not designated in hedging relationships pursuant to accounting guidance and, accordingly, changes in fair values of these contracts, are reported in other non-interest income. | |||||||||||||
Trust Assets, Assets Under Management and Brokerage Assets | ' | ||||||||||||
Trust Assets, Assets Under Management and Brokerage Assets | |||||||||||||
Assets held in fiduciary or agency capacity for customers are not included in the consolidated financial statements as they are not assets of Wintrust or its subsidiaries. Fee income is recognized on an accrual basis and is included as a component of non-interest income. | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
Wintrust and its subsidiaries file a consolidated Federal income tax return. Income tax expense is based upon income in the consolidated financial statements rather than amounts reported on the income tax return. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using currently enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as an income tax benefit or income tax expense in the period that includes the enactment date. | |||||||||||||
Positions taken in the Company’s tax returns may be subject to challenge by the taxing authorities upon examination. In accordance with applicable accounting guidance, uncertain tax positions are initially recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Interest and penalties on income tax uncertainties are classified within income tax expense in the income statement. | |||||||||||||
The tax effect of fair value adjustments on securities available-for-sale and derivative instruments in cash flow hedges are recorded directly to shareholders' equity as part of other comprehensive income (loss). In addition, tax expense (benefit) of $831,000, ($1.4 million) and ($129,000) in 2013, 2012 and 2011, respectively, related to the exercise and expiration of certain stock options and vesting and issuance of restricted shares pursuant to the Stock Incentive Plans and the issuance of shares pursuant to the Directors Deferred Fee and Stock Plan, were recorded directly to shareholders’ equity. | |||||||||||||
Stock-Based Compensation Plans | ' | ||||||||||||
Stock-Based Compensation Plans | |||||||||||||
In accordance with ASC 718, “Compensation — Stock Compensation”, compensation cost is measured as the fair value of the awards on their date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options and the market price of the Company’s stock at the date of grant is used to estimate the fair value of restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. | |||||||||||||
Accounting guidance requires the recognition of stock based compensation for the number of awards that are ultimately expected to vest. As a result, recognized compensation expense for stock options and restricted share awards is reduced for estimated forfeitures prior to vesting. Forfeitures rates are estimated for each type of award based on historical forfeiture experience. Estimated forfeitures will be reassessed in subsequent periods and may change based on new facts and circumstances. | |||||||||||||
The Company issues new shares to satisfy option exercises and vesting of restricted shares. | |||||||||||||
That cost is expected to be recognized over a weighted average period of approximately two years. | |||||||||||||
The actual tax benefit realized upon the vesting of restricted shares is based on the fair value of the shares on the vesting date and the estimated tax benefit of the awards is based on fair value of the awards on the grant date. The actual tax benefit realized upon the vesting of restricted shares in 2013, 2012 and 2011 was $329,000, $15,000 and $(72,000), respectively, more/(less) than the estimated tax benefit for those shares. These differences in actual and estimated tax benefits were recorded directly to shareholders’ equity. | |||||||||||||
Stock-based compensation is measured as the fair value of an award on the date of grant, and the measured cost is recognized over the period which the recipient is required to provide service in exchange for the award. The fair values of restricted shares and performance-based stock awards are determined based on the average of the high and low trading prices on the grant date, and the fair value of stock options is estimated using a Black-Scholes option-pricing model that utilizes the assumptions outlined in the following table. Option-pricing models require the input of highly subjective assumptions and are sensitive to changes in the option’s expected life and the price volatility of the underlying stock, which can materially affect the fair value estimate. Options granted in 2011, 2012 and 2013, were primarily granted as LTIP awards. The expected life of the options granted pursuant to the LTIP awards is based on the safe harbor rule of the SEC Staff Accounting Bulletin No. 107 “Share-Based Payment” as the Company believes historical exercise data may not provide a reasonable basis to estimate the expected term of these options. Expected stock price volatility is based on historical volatility of the Company’s common stock, which correlates with the expected life of the options, and the risk-free interest rate is based on comparable U.S. Treasury rates. Management reviews and adjusts the assumptions used to calculate the fair value of an option on a periodic basis to better reflect expected trends. | |||||||||||||
Comprehensive Income | ' | ||||||||||||
Comprehensive Income | |||||||||||||
Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available-for-sale, net of deferred taxes, adjustments related to cash flow hedges, net of deferred taxes and foreign currency translation adjustments, net of taxes. | |||||||||||||
Stock Repurchases | ' | ||||||||||||
Stock Repurchases | |||||||||||||
The Company periodically repurchases shares of its outstanding common stock through open market purchases or other methods. Repurchased shares are recorded as treasury shares on the trade date using the treasury stock method, and the cash paid is recorded as treasury stock. | |||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||||||||||||
Foreign Currency Translation | |||||||||||||
The Company revalues assets, liabilities, revenue and expense denominated in non-U.S. currencies into U.S. dollars at the end of each month using applicable exchange rates. | |||||||||||||
Gains and losses relating to translating functional currency financial statements for U.S. reporting are included in other comprehensive income. Gains and losses relating to nonfunctional currency transactions are reported in the Consolidated Statements of Income. | |||||||||||||
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | ' | ||||||||||||
The Company’s approach to restructuring loans, excluding those acquired with evidence of credit quality deterioration since origination, is built on its credit risk rating system which requires credit management personnel to assign a credit risk rating to each loan. In each case, the loan officer is responsible for recommending a credit risk rating for each loan and ensuring the credit risk ratings are appropriate. These credit risk ratings are then reviewed and approved by the bank’s chief credit officer and/or concurrence credit officer. Credit risk ratings are determined by evaluating a number of factors including a borrower’s financial strength, cash flow coverage, collateral protection and guarantees. The Company’s credit risk rating scale is one through ten with higher scores indicating higher risk. In the case of loans rated six or worse following modification, the Company’s Managed Assets Division evaluates the loan and the credit risk rating and determines that the loan has been restructured to be reasonably assured of repayment and of performance according to the modified terms and is supported by a current, well-documented credit assessment of the borrower’s financial condition and prospects for repayment under the revised terms. | |||||||||||||
A modification of a loan, excluding those acquired with evidence of credit quality deterioration since origination, with an existing credit risk rating of six or worse or a modification of any other credit, which will result in a restructured credit risk rating of six or worse must be reviewed for possible TDR classification. In that event, our Managed Assets Division conducts an overall credit and collateral review. A modification of these loans is considered to be a TDR if both (1) the borrower is experiencing financial difficulty and (2) for economic or legal reasons, the bank grants a concession to a borrower that it would not otherwise consider. The modification of a loan, excluding those acquired with evidence of credit quality deterioration since origination, where the credit risk rating is five or better both before and after such modification is not considered to be a TDR. Based on the Company’s credit risk rating system, it considers that borrowers whose credit risk rating is five or better are not experiencing financial difficulties and therefore, are not considered TDRs. | |||||||||||||
All credits determined to be a TDR will continue to be classified as a TDR in all subsequent periods, unless the borrower has been in compliance with the loan’s modified terms for a period of six months (including over a calendar year-end) and the modified interest rate represented a market rate at the time of a restructuring. The Managed Assets Division, in consultation with the respective loan officer, determines whether the modified interest rate represented a current market rate at the time of restructuring. Using knowledge of current market conditions and rates, competitive pricing on recent loan originations, and an assessment of various characteristics of the modified loan (including collateral position and payment history), an appropriate market rate for a new borrower with similar risk is determined. If the modified interest rate meets or exceeds this market rate for a new borrower with similar risk, the modified interest rate represents a market rate at the time of restructuring. Additionally, before removing a loan from TDR classification, a review of the current or previously measured impairment on the loan and any concerns related to future performance by the borrower is conducted. If concerns exist about the future ability of the borrower to meet its obligations under the loans based on a credit review by the Managed Assets Division, the TDR classification is not removed from the loan. Loans classified as TDRs that are re-modified subsequent to the initial determination will continue to be classified as a TDRs following the re-modification, unless the requirements for removal from TDR classification discussed above are satisfied at the time of the re-modification. | |||||||||||||
TDRs are reviewed at the time of modification and on a quarterly basis to determine if a specific reserve is necessary. The carrying amount of the loan is compared to the expected payments to be received, discounted at the loan’s original rate, or for collateral dependent loans, to the fair value of the collateral less the estimated cost to sell. Any shortfall is recorded as a specific reserve. The Company, in accordance with ASC 310-10, continues to individually measure impairment of these loans after the TDR classification is removed. | |||||||||||||
Each TDR was reviewed for impairment at December 31, 2013 and approximately $4.8 million of impairment was present and appropriately reserved for through the Company’s normal reserving methodology in the Company’s allowance for loan losses. For TDRs in which impairment is calculated by the present value of future cash flows, the Company records interest income representing the decrease in impairment resulting from the passage of time during the respective period, which differs from interest income from contractually required interest on these specific loans. For the year-ended December 31, 2013 and 2012, the Company recorded $901,000 and $1.3 million, respectively, in interest income representing this decrease in impairment. | |||||||||||||
Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Nonperforming Loans Policy [Policy Text Block] | ' | ||||||||||||
Non-performing loans include all non-accrual loans (8 and 9 risk ratings) as well as loans 90 days past due and still accruing interest, excluding loans acquired with evidence of credit quality deterioration since origination. The remainder of the portfolio is considered performing under the contractual terms of the loan agreement. | |||||||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | ||||||||||||
Certain premium finance receivables are recorded net of unearned income. The unearned income portions of such premium finance receivables were $41.9 million and $41.1 million at December 31, 2013 and 2012, respectively. Certain life insurance premium finance receivables attributable to the life insurance premium finance loan acquisition in 2009 as well as loans acquired with evidence of credit quality deterioration since origination are recorded net of credit discounts. See “Acquired Loan Information at Acquisition,” below. | |||||||||||||
Total loans, excluding loans acquired with evidence of credit quality deterioration since origination, include net deferred loan fees and costs and fair value purchase accounting adjustments totaling $(9.2) million and $13.2 million at December 31, 2013 and 2012, respectively. | |||||||||||||
Receivables, Policy [Policy Text Block] | ' | ||||||||||||
Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date. Expected future cash flows at the purchase date in excess of the fair value of loans are recorded as interest income over the life of the loans if the timing and amount of the future cash flows is reasonably estimable (“accretable yield”). The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference and represents probable losses in the portfolio. | |||||||||||||
In determining the acquisition date fair value of purchased impaired loans, and in subsequent accounting, the Company aggregates these purchased loans into pools of loans by common risk characteristics, such as credit risk rating and loan type. Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. Subsequent decreases to the expected cash flows will result in a provision for loan losses. | |||||||||||||
The Company purchased a portfolio of life insurance premium finance receivables in 2009. These purchased life insurance premium finance receivables are valued on an individual basis with the accretable component being recognized into interest income using the effective yield method over the estimated remaining life of the loans. The non-accretable portion is evaluated each quarter and if the loans’ credit related conditions improve, a portion is transferred to the accretable component and accreted over future periods. In the event a specific loan prepays in whole, any remaining accretable and non-accretable discount is recognized in income immediately. If credit related conditions deteriorate, an allowance related to these loans will be established as part of the provision for credit losses. | |||||||||||||
See Note 4 — Loans, for more information on loans acquired with evidence of credit quality deterioration since origination. | |||||||||||||
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | ' | ||||||||||||
The customer list intangibles recognized in connection with the purchase of life insurance premium finance assets in 2009 are being amortized over an 18-year period on an accelerated basis. | |||||||||||||
The core deposit intangibles recognized in connection with these acquisitions are being amortized over ten-year periods on an accelerated basis. | |||||||||||||
The customer list intangible recognized in connection with the acquisition is being amortized over a ten-year period on a straight-line basis. | |||||||||||||
Debt, Policy [Policy Text Block] | ' | ||||||||||||
These prepayment fees are classified in other assets on the Consolidated Statements of Condition and are amortized as an adjustment to interest expense using the effective interest method. | |||||||||||||
FHLB advances are stated at par value of the debt adjusted for unamortized fair value adjustments recorded in connection with advances acquired through acquisitions. | |||||||||||||
In connection with the issuances of subordinated notes, the Company incurred costs totaling $1.0 million. These costs were included in other assets and were amortized to interest expense using a method that approximates the effective interest method. At December 31, 2013 the balances of these costs were fully amortized. At December 31, 2012, the unamortized balances of these costs were approximately $3,000. | |||||||||||||
At issuance, the junior subordinated notes were recorded at their initial principal balance of $44.7 million, net of issuance costs. | |||||||||||||
The QSPE issued $600 million Class A notes, which were reflected on the Company's Consolidated Statements of Condition as secured borrowings owed to securitization investors, that had an annual interest rate of one-month LIBOR plus 1.45%. | |||||||||||||
The issuance costs were being amortized to interest expense using the effective-interest method. | |||||||||||||
Repurchase Agreements, Collateral, Policy [Policy Text Block] | ' | ||||||||||||
The Company records securities sold under repurchase agreements at their gross value and does not offset positions on the Consolidated Statements of Condition. As of December 31, 2013, the Company had pledged securities related to its customer balances in sweep accounts and short-term borrowing from brokers of $60.0 million and $191.3 million, respectively, which exceed the outstanding borrowings resulting in no net credit exposure. Securities pledged for customer balances in sweep accounts are maintained under the Company’s control and consist of U.S. Government agency, mortgage-backed and corporate securities. These securities are included in the available-for-sale securities portfolio as reflected on the Company’s Consolidated Statements of Condition. | |||||||||||||
Junior Subordinated Debentures Policy [Policy Text Block] | ' | ||||||||||||
The Trusts are reported in the Company’s consolidated financial statements as unconsolidated subsidiaries. Accordingly, in the Consolidated Statements of Condition, the junior subordinated debentures issued by the Company to the Trusts are reported as liabilities and the common securities of the Trusts, all of which are owned by the Company, are included in available-for-sale securities. | |||||||||||||
Income Tax Uncertainties, Policy [Policy Text Block] | ' | ||||||||||||
The Company is required to record a liability (or a reduction of an asset) for the uncertainty associated with certain tax positions. This liability, if any, reflects the fact that the Company has not recognized the benefit associated with the tax position. The Company had no unrecognized tax benefits at December 31, 2012 and it did not have increases or decreases in unrecognized tax benefits during 2013 and does not have any tax positions for which unrecognized tax benefits must be recorded at December 31, 2013. In addition, for the year ended December 31, 2013, the Company has no interest or penalties relating to income tax positions recognized in the income statement or in the balance sheet. If the Company were to record interest and penalties associated with uncertain tax positions or as a result of an audit by a tax jurisdiction, the interest and penalties would be included in income tax expense. The Company does not believe it is reasonably possible that unrecognized tax benefits will significantly change in the next 12 months. | |||||||||||||
Tangible Equity Unit Policy [Policy Text Block] | ' | ||||||||||||
The prepaid stock purchase contracts were recorded as surplus (a component of shareholders’ equity), net of issuance costs, and the junior subordinated amortizing notes were recorded as debt within other borrowings. Issuance costs associated with the debt component were recorded as a discount within other borrowings and were amortized over the term of the instrument to December 15, 2013 at which time they were paid off. The Company allocated the proceeds from the issuance of the TEU to equity and debt based on the relative fair values of the respective components of each unit. | |||||||||||||
The aggregate fair values assigned to each component of the TEU offering were as follows: | |||||||||||||
(Dollars and units in thousands, except unit price) | Equity | Debt | TEU | ||||||||||
Component | Component | Total | |||||||||||
Units issued (1) | 4,600 | 4,600 | 4,600 | ||||||||||
Unit price | $ | 40.271818 | $ | 9.728182 | $ | 50 | |||||||
Gross proceeds | 185,250 | 44,750 | 230,000 | ||||||||||
Issuance costs, including discount | 5,934 | 1,419 | 7,353 | ||||||||||
Net proceeds | $ | 179,316 | $ | 43,331 | $ | 222,647 | |||||||
Balance sheet impact | |||||||||||||
Other borrowings | — | 43,331 | 43,331 | ||||||||||
Surplus | 179,316 | — | 179,316 | ||||||||||
-1 | TEUs consisted of two components: one unit of the equity component and one unit of the debt component. | ||||||||||||
The fair value of the debt component was determined using a discounted cash flow model using the following assumptions: (1) quarterly cash payments of 7.5%; (2) a maturity date of December 15, 2013; and (3) an assumed discount rate of 9.5%. The discount rate used for estimating the fair value was determined by obtaining yields for comparably-rated issuers trading in the market. The debt component was recorded at fair value, and the discount was amortized using the level yield method over the term of the instrument to the settlement date of December 15, 2013. | |||||||||||||
The fair value of the equity component was determined using Black-Scholes valuation models applied to the range of stock prices contemplated by the terms of the TEU and using the following assumptions: (1) risk-free interest rate of 0.95%; (2) expected stock price volatility in the range of 35%-45%; (3) dividend yield plus stock borrow cost of 0.85%; and (4) term of 3.02 years. | |||||||||||||
Each junior subordinated amortizing note, which had an initial principal amount of $9.728182, had a stated interest rate of 9.50% per annum, and had a scheduled final installment payment date of December 15, 2013. On each March 15, June 15, September 15 and December 15, the Company paid equal quarterly installments of $0.9375 on each amortizing note. The quarterly installment payable at March 15, 2011, however, was $0.989583. Each payment constituted a payment of interest and a partial repayment of principal. The issuance costs were amortized to interest expense using the effective-interest method. | |||||||||||||
Each prepaid common stock purchase contract automatically settled on December 15, 2013 and the Company delivered 1.3333 shares of its common stock based on the applicable market value at that time (the average of the volume weighted average price of Company common stock for the twenty (20) consecutive trading days ending on the third trading day immediately preceding December 15, 2013). Upon settlement, an amount equal to $1.00 per common share issued was reclassified from surplus to common stock. |
AvailableForSale_Securities_Ta
Available-For-Sale Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary of the Available-for-Sale Securities Portfolio | ' | ||||||||||||||||||||||||||||||||
A summary of the available-for-sale securities portfolio presenting carrying amounts and gross unrealized gains and losses as of December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||
December 31, 2013 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||
Cost | unrealized | unrealized | Cost | unrealized | unrealized | ||||||||||||||||||||||||||||
gains | losses | gains | losses | ||||||||||||||||||||||||||||||
U.S. Treasury | $ | 354,262 | $ | 141 | $ | (18,308 | ) | $ | 336,095 | $ | 220,226 | $ | 198 | $ | (937 | ) | $ | 219,487 | |||||||||||||||
U.S. Government agencies | 950,086 | 1,680 | (56,078 | ) | 895,688 | 986,186 | 4,839 | (986 | ) | 990,039 | |||||||||||||||||||||||
Municipal | 154,463 | 2,551 | (4,298 | ) | 152,716 | 107,868 | 2,899 | (296 | ) | 110,471 | |||||||||||||||||||||||
Corporate notes: | |||||||||||||||||||||||||||||||||
Financial issuers | 129,362 | 1,993 | (2,411 | ) | 128,944 | 142,205 | 2,452 | (3,982 | ) | 140,675 | |||||||||||||||||||||||
Other | 5,994 | 105 | (5 | ) | 6,094 | 13,911 | 220 | — | 14,131 | ||||||||||||||||||||||||
Mortgage-backed: (1) | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | 562,708 | 3,537 | (18,047 | ) | 548,198 | 188,485 | 8,805 | (30 | ) | 197,260 | |||||||||||||||||||||||
Collateralized mortgage obligations | 57,711 | 258 | (942 | ) | 57,027 | 73,386 | 928 | — | 74,314 | ||||||||||||||||||||||||
Other equity securities | 50,532 | 1,493 | (497 | ) | 51,528 | 52,846 | 215 | (3,362 | ) | 49,699 | |||||||||||||||||||||||
Total available-for-sale securities | $ | 2,265,118 | $ | 11,758 | $ | (100,586 | ) | $ | 2,176,290 | $ | 1,785,113 | $ | 20,556 | $ | (9,593 | ) | $ | 1,796,076 | |||||||||||||||
-1 | Consisting entirely of residential mortgage-backed securities, none of which are subprime. | ||||||||||||||||||||||||||||||||
Schedule of Available-for-Sale Securities Portfolio Continuous Unrealized Loss Position | ' | ||||||||||||||||||||||||||||||||
The following table presents the portion of the Company’s available-for-sale securities portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013: | |||||||||||||||||||||||||||||||||
Continuous unrealized | Continuous unrealized | Total | |||||||||||||||||||||||||||||||
losses existing for less | losses existing for | ||||||||||||||||||||||||||||||||
than 12 months | greater than 12 months | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value | Unrealized | Fair value | Unrealized | Fair value | Unrealized | |||||||||||||||||||||||||||
losses | losses | losses | |||||||||||||||||||||||||||||||
U.S. Treasury | $ | 75,695 | $ | (62 | ) | $ | 181,922 | $ | (18,246 | ) | $ | 257,617 | $ | (18,308 | ) | ||||||||||||||||||
U.S. Government agencies | 399,982 | (47,860 | ) | 53,431 | (8,218 | ) | 453,413 | (56,078 | ) | ||||||||||||||||||||||||
Municipal | 66,368 | (3,757 | ) | 10,529 | (541 | ) | 76,897 | (4,298 | ) | ||||||||||||||||||||||||
Corporate notes: | |||||||||||||||||||||||||||||||||
Financial issuers | 21,296 | (49 | ) | 66,834 | (2,362 | ) | 88,130 | (2,411 | ) | ||||||||||||||||||||||||
Other | 995 | (5 | ) | — | — | 995 | (5 | ) | |||||||||||||||||||||||||
Mortgage-backed: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | 270,522 | (18,008 | ) | 2,922 | (39 | ) | 273,444 | (18,047 | ) | ||||||||||||||||||||||||
Collateralized mortgage obligations | 40,449 | (942 | ) | — | — | 40,449 | (942 | ) | |||||||||||||||||||||||||
Other equity securities | 8,272 | (205 | ) | 5,709 | (292 | ) | 13,981 | (497 | ) | ||||||||||||||||||||||||
Total | $ | 883,579 | $ | (70,888 | ) | $ | 321,347 | $ | (29,698 | ) | $ | 1,204,926 | $ | (100,586 | ) | ||||||||||||||||||
The following table presents the portion of the Company’s available-for-sale securities portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2012: | |||||||||||||||||||||||||||||||||
Continuous unrealized | Continuous unrealized | Total | |||||||||||||||||||||||||||||||
losses existing for less | losses existing for | ||||||||||||||||||||||||||||||||
than 12 months | greater than 12 months | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value | Unrealized | Fair | Unrealized | Fair value | Unrealized | |||||||||||||||||||||||||||
losses | value | losses | losses | ||||||||||||||||||||||||||||||
U.S. Treasury | $ | 199,250 | $ | (937 | ) | $ | — | $ | — | $ | 199,250 | $ | (937 | ) | |||||||||||||||||||
U.S. Government agencies | 200,408 | (986 | ) | — | — | 200,408 | (986 | ) | |||||||||||||||||||||||||
Municipal | 26,782 | (295 | ) | 512 | (1 | ) | 27,294 | (296 | ) | ||||||||||||||||||||||||
Corporate notes: | |||||||||||||||||||||||||||||||||
Financial issuers | 4,644 | (13 | ) | 91,970 | (3,969 | ) | 96,614 | (3,982 | ) | ||||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||||||
Mortgage-backed: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | 20,198 | (30 | ) | — | — | 20,198 | (30 | ) | |||||||||||||||||||||||||
Collateralized mortgage obligations | — | — | — | — | — | — | |||||||||||||||||||||||||||
Other equity securities | 5,960 | (40 | ) | 22,078 | (3,322 | ) | 28,038 | (3,362 | ) | ||||||||||||||||||||||||
Total | $ | 457,242 | $ | (2,301 | ) | $ | 114,560 | $ | (7,292 | ) | $ | 571,802 | $ | (9,593 | ) | ||||||||||||||||||
Schedule of Available-for-Sale Investment Securities Gross Gains and Gross Losses Realized | ' | ||||||||||||||||||||||||||||||||
The following table provides information as to the amount of gross gains and gross losses realized, other-than-temporary impairment charges and proceeds received through the sales of available-for-sale investment securities: | |||||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||
Realized gains | $ | 434 | $ | 4,918 | $ | 1,874 | |||||||||||||||||||||||||||
Realized losses | (106 | ) | (23 | ) | (82 | ) | |||||||||||||||||||||||||||
Net realized gains | $ | 328 | $ | 4,895 | $ | 1,792 | |||||||||||||||||||||||||||
Other than temporary impairment charges | (3,328 | ) | — | — | |||||||||||||||||||||||||||||
(Losses) gains on available-for-sale securities, net | $ | (3,000 | ) | $ | 4,895 | $ | 1,792 | ||||||||||||||||||||||||||
Proceeds from sales of available-for-sale securities, net | $ | 138,274 | $ | 2,399,035 | $ | 1,265,046 | |||||||||||||||||||||||||||
Contractual Maturities of Available-for-Sale Securities | ' | ||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities as of December 31, 2013 and December 31, 2012, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties: | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||||||||||
Due in one year or less | $ | 268,847 | $ | 269,168 | $ | 188,594 | $ | 189,015 | |||||||||||||||||||||||||
Due in one to five years | 358,108 | 358,357 | 419,588 | 419,654 | |||||||||||||||||||||||||||||
Due in five to ten years | 350,372 | 330,020 | 361,037 | 362,135 | |||||||||||||||||||||||||||||
Due after ten years | 616,840 | 561,992 | 501,177 | 503,999 | |||||||||||||||||||||||||||||
Mortgage-backed | 620,419 | 605,225 | 261,871 | 271,574 | |||||||||||||||||||||||||||||
Other equity securities | 50,532 | 51,528 | 52,846 | 49,699 | |||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 2,265,118 | $ | 2,176,290 | $ | 1,785,113 | $ | 1,796,076 | |||||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | ||||||||||||||||
Summary of Loan Portfolio | ' | ||||||||||||||||
A summary of the loan portfolio at December 31, 2013 and 2012 is as follows: | |||||||||||||||||
(Dollars in thousands) | December 31, | December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance: | |||||||||||||||||
Commercial | $ | 3,253,687 | $ | 2,914,798 | |||||||||||||
Commercial real-estate | 4,230,035 | 3,864,118 | |||||||||||||||
Home equity | 719,137 | 788,474 | |||||||||||||||
Residential real-estate | 434,992 | 367,213 | |||||||||||||||
Premium finance receivables—commercial | 2,167,565 | 1,987,856 | |||||||||||||||
Premium finance receivables—life insurance | 1,923,698 | 1,725,166 | |||||||||||||||
Indirect consumer | 50,680 | 77,333 | |||||||||||||||
Consumer and other | 116,808 | 103,985 | |||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 12,896,602 | $ | 11,828,943 | |||||||||||||
Covered loans | 346,431 | 560,087 | |||||||||||||||
Total loans | $ | 13,243,033 | $ | 12,389,030 | |||||||||||||
Mix: | |||||||||||||||||
Commercial | 25 | % | 24 | % | |||||||||||||
Commercial real-estate | 32 | 31 | |||||||||||||||
Home equity | 5 | 6 | |||||||||||||||
Residential real-estate | 3 | 3 | |||||||||||||||
Premium finance receivables—commercial | 16 | 16 | |||||||||||||||
Premium finance receivables—life insurance | 15 | 14 | |||||||||||||||
Indirect consumer | — | 1 | |||||||||||||||
Consumer and other | 1 | 1 | |||||||||||||||
Total loans, net of unearned income, excluding covered loans | 97 | % | 96 | % | |||||||||||||
Covered loans | 3 | 4 | |||||||||||||||
Total loans | 100 | % | 100 | % | |||||||||||||
Unpaid Principal Balance and Carrying Value of Acquired Loans | ' | ||||||||||||||||
The following table presents the unpaid principal balance and carrying value for these acquired loans: | |||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||
(Dollars in thousands) | Unpaid | Carrying | Unpaid | Carrying | |||||||||||||
Principal | Value | Principal | Value | ||||||||||||||
Balance | Balance | ||||||||||||||||
Bank acquisitions | $ | 453,944 | $ | 338,517 | $ | 674,868 | $ | 503,837 | |||||||||
Life insurance premium finance loans acquisition | 437,155 | 423,906 | 536,503 | 514,459 | |||||||||||||
Estimated Details on Loans Acquired | ' | ||||||||||||||||
The following table provides estimated details on loans acquired in 2013 as of the date of acquisition: | |||||||||||||||||
(Dollars in thousands) | FNBI | Diamond | |||||||||||||||
Contractually required payments including interest | $ | 32,022 | $ | 47,853 | |||||||||||||
Less: Nonaccretable difference | 8,890 | 12,898 | |||||||||||||||
Cash flows expected to be collected (1) | 23,132 | 34,955 | |||||||||||||||
Less: Accretable yield | 2,055 | 3,451 | |||||||||||||||
Fair value of loans acquired with evidence of credit quality deterioration since origination | $ | 21,077 | $ | 31,504 | |||||||||||||
-1 | Represents undiscounted expected principal and interest cash flows at acquisition. | ||||||||||||||||
Activity Related to Accretable Yield of Loans Acquired with Evidence of Credit Quality Deterioration Since Origination | ' | ||||||||||||||||
Changes in expected cash flows may vary from period to period as the Company periodically updates its cash flow model assumptions for loans acquired with evidence of credit quality deterioration since origination. The factors that most significantly affect the estimates of gross cash flows expected to be collected, and accordingly the accretable yield, include changes in the benchmark interest rate indices for variable-rate products and changes in prepayment assumptions and loss estimates. The following table provides activity for the accretable yield of loans acquired with evidence of credit quality deterioration since origination. | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(Dollars in thousands) | Bank | Life Insurance | Bank | Life Insurance | |||||||||||||
Acquisitions | Premium | Acquisitions | Premium | ||||||||||||||
Finance Loans | Finance Loans | ||||||||||||||||
Accretable yield, beginning balance | $ | 143,224 | $ | 13,055 | $ | 173,120 | $ | 18,861 | |||||||||
Acquisitions | 5,428 | — | 8,217 | — | |||||||||||||
Accretable yield amortized to interest income | (36,898 | ) | (8,795 | ) | (52,101 | ) | (11,441 | ) | |||||||||
Accretable yield amortized to indemnification asset (1) | (36,202 | ) | — | (66,798 | ) | — | |||||||||||
Reclassification from non-accretable difference (2) | 50,873 | 2,840 | 64,603 | 4,096 | |||||||||||||
(Decreases) increases in interest cash flows due to payments and changes in interest rates | (18,770 | ) | 1,154 | 16,183 | 1,539 | ||||||||||||
Accretable yield, ending balance (3) | $ | 107,655 | $ | 8,254 | $ | 143,224 | $ | 13,055 | |||||||||
-1 | Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnfication asset. | ||||||||||||||||
-2 | Reclassification is the result of subsequent increases in expected principal cash flows. | ||||||||||||||||
-3 | As of December 31, 2013, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $33.7 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income. |
Allowance_for_Loan_Losses_Allo1
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Aging of the Company's Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||||
The tables below show the aging of the Company’s loan portfolio at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | Nonaccrual | 90+ days | 60-89 | 30-59 | Current | Total Loans | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | and still | days past | days past | ||||||||||||||||||||||||||||||||||||||||
accruing | due | due | |||||||||||||||||||||||||||||||||||||||||
Loan Balances: | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 10,143 | $ | — | $ | 4,938 | $ | 7,404 | $ | 1,813,721 | $ | 1,836,206 | |||||||||||||||||||||||||||||||
Franchise | — | — | 400 | — | 219,983 | 220,383 | |||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | 67,470 | 67,470 | |||||||||||||||||||||||||||||||||||||
Community Advantage — homeowners association | — | — | — | — | 90,894 | 90,894 | |||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | 10,241 | 10,241 | |||||||||||||||||||||||||||||||||||||
Asset-based lending | 637 | — | 388 | 1,878 | 732,190 | 735,093 | |||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | 161,239 | 161,239 | |||||||||||||||||||||||||||||||||||||
Leases | — | — | — | 788 | 109,043 | 109,831 | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 11,147 | 11,147 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered | — | 274 | 156 | 1,685 | 9,068 | 11,183 | |||||||||||||||||||||||||||||||||||||
commercial (1) | |||||||||||||||||||||||||||||||||||||||||||
Total commercial | 10,780 | 274 | 5,882 | 11,755 | 3,224,996 | 3,253,687 | |||||||||||||||||||||||||||||||||||||
Commercial real-estate: | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 149 | — | — | — | 38,351 | 38,500 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 6,969 | — | — | 505 | 129,232 | 136,706 | |||||||||||||||||||||||||||||||||||||
Land | 2,814 | — | 4,224 | 619 | 99,128 | 106,785 | |||||||||||||||||||||||||||||||||||||
Office | 10,087 | — | 2,265 | 3,862 | 626,027 | 642,241 | |||||||||||||||||||||||||||||||||||||
Industrial | 5,654 | — | 585 | 914 | 626,785 | 633,938 | |||||||||||||||||||||||||||||||||||||
Retail | 10,862 | — | 837 | 2,435 | 642,125 | 656,259 | |||||||||||||||||||||||||||||||||||||
Multi-family | 2,035 | — | — | 348 | 564,154 | 566,537 | |||||||||||||||||||||||||||||||||||||
Mixed use and other | 8,088 | 230 | 3,943 | 15,949 | 1,344,244 | 1,372,454 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial real-estate (1) | — | 18,582 | 3,540 | 5,238 | 49,255 | 76,615 | |||||||||||||||||||||||||||||||||||||
Total commercial real-estate | 46,658 | 18,812 | 15,394 | 29,870 | 4,119,301 | 4,230,035 | |||||||||||||||||||||||||||||||||||||
Home equity | 10,071 | — | 1,344 | 3,060 | 704,662 | 719,137 | |||||||||||||||||||||||||||||||||||||
Residential real estate | 14,974 | — | 1,689 | 5,032 | 410,430 | 432,125 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered residential real estate (1) | — | 1,988 | — | — | 879 | 2,867 | |||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance loans | 10,537 | 8,842 | 6,912 | 24,094 | 2,117,180 | 2,167,565 | |||||||||||||||||||||||||||||||||||||
Life insurance loans | — | — | 2,524 | 1,808 | 1,495,460 | 1,499,792 | |||||||||||||||||||||||||||||||||||||
Purchased life insurance loans (1) | — | — | — | — | 423,906 | 423,906 | |||||||||||||||||||||||||||||||||||||
Indirect consumer | 55 | 105 | 29 | 353 | 50,138 | 50,680 | |||||||||||||||||||||||||||||||||||||
Consumer and other | 1,082 | — | 47 | 657 | 113,818 | 115,604 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered consumer and other (1) | — | 181 | — | — | 1,023 | 1,204 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 94,157 | $ | 30,202 | $ | 33,821 | $ | 76,629 | $ | 12,661,793 | $ | 12,896,602 | |||||||||||||||||||||||||||||||
Covered loans | 9,425 | 56,282 | 5,877 | 7,937 | 266,910 | 346,431 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | 103,582 | $ | 86,484 | $ | 39,698 | $ | 84,566 | $ | 12,928,703 | $ | 13,243,033 | |||||||||||||||||||||||||||||||
-1 | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments. See Note 4 - Loans for further discussion of these purchased loans. | ||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Nonaccrual | 90+ days | 60-89 | 30-59 | Current | Total Loans | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | and still | days past | days past | ||||||||||||||||||||||||||||||||||||||||
accruing | due | due | |||||||||||||||||||||||||||||||||||||||||
Loan Balances: | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 19,409 | $ | — | $ | 5,520 | $ | 15,410 | $ | 1,587,864 | $ | 1,628,203 | |||||||||||||||||||||||||||||||
Franchise | 1,792 | — | — | — | 194,603 | 196,395 | |||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | 215,076 | 215,076 | |||||||||||||||||||||||||||||||||||||
Community Advantage — homeowners association | — | — | — | — | 81,496 | 81,496 | |||||||||||||||||||||||||||||||||||||
Aircraft | — | — | 148 | — | 17,216 | 17,364 | |||||||||||||||||||||||||||||||||||||
Asset-based lending | 536 | — | 1,126 | 6,622 | 564,154 | 572,438 | |||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | 91,824 | 91,824 | |||||||||||||||||||||||||||||||||||||
Leases | — | — | — | 896 | 89,547 | 90,443 | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 16,549 | 16,549 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered | — | 496 | 432 | 7 | 4,075 | 5,010 | |||||||||||||||||||||||||||||||||||||
commercial (1) | |||||||||||||||||||||||||||||||||||||||||||
Total commercial | 21,737 | 496 | 7,226 | 22,935 | 2,862,404 | 2,914,798 | |||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 3,110 | — | 4 | 41 | 37,246 | 40,401 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 2,159 | — | 885 | 386 | 167,525 | 170,955 | |||||||||||||||||||||||||||||||||||||
Land | 11,299 | — | 632 | 9,014 | 113,252 | 134,197 | |||||||||||||||||||||||||||||||||||||
Office | 4,196 | — | 1,889 | 3,280 | 560,346 | 569,711 | |||||||||||||||||||||||||||||||||||||
Industrial | 2,089 | — | 6,042 | 4,512 | 565,294 | 577,937 | |||||||||||||||||||||||||||||||||||||
Retail | 7,792 | — | 1,372 | 998 | 558,734 | 568,896 | |||||||||||||||||||||||||||||||||||||
Multi-family | 2,586 | — | 3,949 | 1,040 | 389,116 | 396,691 | |||||||||||||||||||||||||||||||||||||
Mixed use and other | 16,742 | — | 6,660 | 13,349 | 1,312,503 | 1,349,254 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial real-estate (1) | — | 749 | 2,663 | 2,508 | 50,156 | 56,076 | |||||||||||||||||||||||||||||||||||||
Total commercial real-estate | 49,973 | 749 | 24,096 | 35,128 | 3,754,172 | 3,864,118 | |||||||||||||||||||||||||||||||||||||
Home equity | 13,423 | 100 | 1,592 | 5,043 | 768,316 | 788,474 | |||||||||||||||||||||||||||||||||||||
Residential real estate | 11,728 | — | 2,763 | 8,250 | 343,616 | 366,357 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered residential real estate (1) | — | — | 200 | — | 656 | 856 | |||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance loans | 9,302 | 10,008 | 6,729 | 19,597 | 1,942,220 | 1,987,856 | |||||||||||||||||||||||||||||||||||||
Life insurance loans | 25 | — | — | 5,531 | 1,205,151 | 1,210,707 | |||||||||||||||||||||||||||||||||||||
Purchased life insurance loans (1) | — | — | — | — | 514,459 | 514,459 | |||||||||||||||||||||||||||||||||||||
Indirect consumer | 55 | 189 | 51 | 442 | 76,596 | 77,333 | |||||||||||||||||||||||||||||||||||||
Consumer and other | 1,511 | 32 | 167 | 433 | 99,010 | 101,153 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered consumer and other (1) | — | 66 | 32 | 101 | 2,633 | 2,832 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 107,754 | $ | 11,640 | $ | 42,856 | $ | 97,460 | $ | 11,569,233 | $ | 11,828,943 | |||||||||||||||||||||||||||||||
Covered loans | 1,988 | 122,350 | 16,108 | 7,999 | 411,642 | 560,087 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | 109,742 | $ | 133,990 | $ | 58,964 | $ | 105,459 | $ | 11,980,875 | $ | 12,389,030 | |||||||||||||||||||||||||||||||
-1 | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments. See Note 4 - Loans for further discussion of these purchased loans. | ||||||||||||||||||||||||||||||||||||||||||
Summary of Recorded Investment Based on Performance of Loans by Class | ' | ||||||||||||||||||||||||||||||||||||||||||
The following table presents the recorded investment based on performance of loans by class, excluding covered loans, per the most recent analysis at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||
Performing | Non-performing | Total | |||||||||||||||||||||||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Loan Balances: | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,826,063 | $ | 1,608,794 | $ | 10,143 | $ | 19,409 | $ | 1,836,206 | $ | 1,628,203 | |||||||||||||||||||||||||||||||
Franchise | 220,383 | 194,603 | — | 1,792 | 220,383 | 196,395 | |||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | 67,470 | 215,076 | — | — | 67,470 | 215,076 | |||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | 90,894 | 81,496 | — | — | 90,894 | 81,496 | |||||||||||||||||||||||||||||||||||||
Aircraft | 10,241 | 17,364 | — | — | 10,241 | 17,364 | |||||||||||||||||||||||||||||||||||||
Asset-based lending | 734,456 | 571,902 | 637 | 536 | 735,093 | 572,438 | |||||||||||||||||||||||||||||||||||||
Tax exempt | 161,239 | 91,824 | — | — | 161,239 | 91,824 | |||||||||||||||||||||||||||||||||||||
Leases | 109,831 | 90,443 | — | — | 109,831 | 90,443 | |||||||||||||||||||||||||||||||||||||
Other | 11,147 | 16,549 | — | — | 11,147 | 16,549 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial (1) | 11,183 | 5,010 | — | — | 11,183 | 5,010 | |||||||||||||||||||||||||||||||||||||
Total commercial | 3,242,907 | 2,893,061 | 10,780 | 21,737 | 3,253,687 | 2,914,798 | |||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 38,351 | 37,291 | 149 | 3,110 | 38,500 | 40,401 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 129,737 | 168,796 | 6,969 | 2,159 | 136,706 | 170,955 | |||||||||||||||||||||||||||||||||||||
Land | 103,971 | 122,898 | 2,814 | 11,299 | 106,785 | 134,197 | |||||||||||||||||||||||||||||||||||||
Office | 632,154 | 565,515 | 10,087 | 4,196 | 642,241 | 569,711 | |||||||||||||||||||||||||||||||||||||
Industrial | 628,284 | 575,848 | 5,654 | 2,089 | 633,938 | 577,937 | |||||||||||||||||||||||||||||||||||||
Retail | 645,397 | 561,104 | 10,862 | 7,792 | 656,259 | 568,896 | |||||||||||||||||||||||||||||||||||||
Multi-family | 564,502 | 394,105 | 2,035 | 2,586 | 566,537 | 396,691 | |||||||||||||||||||||||||||||||||||||
Mixed use and other | 1,364,136 | 1,332,512 | 8,318 | 16,742 | 1,372,454 | 1,349,254 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered commercial real-estate (1) | 76,615 | 56,076 | — | — | 76,615 | 56,076 | |||||||||||||||||||||||||||||||||||||
Total commercial real-estate | 4,183,147 | 3,814,145 | 46,888 | 49,973 | 4,230,035 | 3,864,118 | |||||||||||||||||||||||||||||||||||||
Home equity | 709,066 | 774,951 | 10,071 | 13,523 | 719,137 | 788,474 | |||||||||||||||||||||||||||||||||||||
Residential real estate | 417,151 | 354,629 | 14,974 | 11,728 | 432,125 | 366,357 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered residential real estate (1) | 2,867 | 856 | — | — | 2,867 | 856 | |||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance loans | 2,148,186 | 1,968,546 | 19,379 | 19,310 | 2,167,565 | 1,987,856 | |||||||||||||||||||||||||||||||||||||
Life insurance loans | 1,499,792 | 1,210,682 | — | 25 | 1,499,792 | 1,210,707 | |||||||||||||||||||||||||||||||||||||
Purchased life insurance loans (1) | 423,906 | 514,459 | — | — | 423,906 | 514,459 | |||||||||||||||||||||||||||||||||||||
Indirect consumer | 50,520 | 77,089 | 160 | 244 | 50,680 | 77,333 | |||||||||||||||||||||||||||||||||||||
Consumer and other | 114,522 | 99,610 | 1,082 | 1,543 | 115,604 | 101,153 | |||||||||||||||||||||||||||||||||||||
Purchased non-covered consumer and other (1) | 1,204 | 2,832 | — | — | 1,204 | 2,832 | |||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 12,793,268 | $ | 11,710,860 | $ | 103,334 | $ | 118,083 | $ | 12,896,602 | $ | 11,828,943 | |||||||||||||||||||||||||||||||
-1 | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. See Note 4 - Loans for further discussion of these purchased loans. | ||||||||||||||||||||||||||||||||||||||||||
Summary of Activity in the Allowance for Credit Losses by Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||||
A summary of the activity in the allowance for credit losses by loan portfolio (excluding covered loans) for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||
Year Ended | Commercial | Commercial | Home | Residential | Premium | Indirect | Consumer | Total, | |||||||||||||||||||||||||||||||||||
December 31, 2013 | Real-estate | Equity | Real-estate | Finance | Consumer | and Other | Excluding | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Receivable | Covered | |||||||||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses at beginning of period | $ | 28,794 | $ | 52,135 | $ | 12,734 | $ | 5,560 | $ | 6,096 | $ | 267 | $ | 1,765 | $ | 107,351 | |||||||||||||||||||||||||||
Other adjustments | (51 | ) | (783 | ) | 3 | (88 | ) | (19 | ) | — | — | (938 | ) | ||||||||||||||||||||||||||||||
Reclassification to/from allowance for unfunded lending-related commitments | — | 640 | — | — | — | — | — | 640 | |||||||||||||||||||||||||||||||||||
Charge-offs | (14,123 | ) | (32,745 | ) | (6,361 | ) | (2,958 | ) | (5,080 | ) | (130 | ) | (980 | ) | (62,377 | ) | |||||||||||||||||||||||||||
Recoveries | 1,655 | 2,526 | 432 | 289 | 1,121 | 53 | 186 | 6,262 | |||||||||||||||||||||||||||||||||||
Provision for credit losses | 6,817 | 26,885 | 5,803 | 2,305 | 3,465 | (8 | ) | 717 | 45,984 | ||||||||||||||||||||||||||||||||||
Allowance for loan losses at period end | $ | 23,092 | $ | 48,658 | $ | 12,611 | $ | 5,108 | $ | 5,583 | $ | 182 | $ | 1,688 | $ | 96,922 | |||||||||||||||||||||||||||
Allowance for unfunded lending-related commitments at period end | $ | — | $ | 719 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 719 | |||||||||||||||||||||||||||
Allowance for credit losses at period end | $ | 23,092 | $ | 49,377 | $ | 12,611 | $ | 5,108 | $ | 5,583 | $ | 182 | $ | 1,688 | $ | 97,641 | |||||||||||||||||||||||||||
Individually evaluated for impairment | 1,392 | 4,653 | 1,593 | 655 | — | — | 109 | 8,402 | |||||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 21,637 | 44,724 | 11,018 | 4,390 | 5,583 | 182 | 1,578 | 89,112 | |||||||||||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 63 | — | — | 63 | — | — | 1 | 127 | |||||||||||||||||||||||||||||||||||
Loans at period end | |||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 17,628 | $ | 117,149 | $ | 10,297 | $ | 17,901 | $ | — | $ | 55 | $ | 1,534 | $ | 164,564 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 3,224,876 | 4,036,271 | 708,840 | 414,224 | 3,667,357 | 50,625 | 114,070 | 12,216,263 | |||||||||||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 11,183 | 76,615 | — | 2,867 | 423,906 | — | 1,204 | 515,775 | |||||||||||||||||||||||||||||||||||
Year Ended | Commercial | Commercial | Home | Residential | Premium | Indirect | Consumer | Total, | |||||||||||||||||||||||||||||||||||
December 31, 2012 | Real-estate | Equity | Real-estate | Finance | Consumer | and Other | Excluding | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Receivable | Covered | |||||||||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses at beginning of period | $ | 31,237 | $ | 56,405 | $ | 7,712 | $ | 5,028 | $ | 7,214 | $ | 645 | $ | 2,140 | $ | 110,381 | |||||||||||||||||||||||||||
Other adjustments | (151 | ) | (1,054 | ) | (4 | ) | (124 | ) | — | — | — | (1,333 | ) | ||||||||||||||||||||||||||||||
Reclassification to/from allowance for unfunded lending-related commitments | 45 | 648 | — | — | — | — | — | 693 | |||||||||||||||||||||||||||||||||||
Charge-offs | (22,405 | ) | (43,539 | ) | (9,361 | ) | (4,060 | ) | (3,780 | ) | (221 | ) | (1,024 | ) | (84,390 | ) | |||||||||||||||||||||||||||
Recoveries | 1,220 | 6,635 | 428 | 22 | 940 | 103 | 240 | 9,588 | |||||||||||||||||||||||||||||||||||
Provision for credit losses | 18,848 | 33,040 | 13,959 | 4,694 | 1,722 | (260 | ) | 409 | 72,412 | ||||||||||||||||||||||||||||||||||
Allowance for loan losses at period end | $ | 28,794 | $ | 52,135 | $ | 12,734 | $ | 5,560 | $ | 6,096 | $ | 267 | $ | 1,765 | $ | 107,351 | |||||||||||||||||||||||||||
Allowance for unfunded lending-related commitments at period end | $ | — | $ | 14,647 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 14,647 | |||||||||||||||||||||||||||
Allowance for credit losses at period end | $ | 28,794 | $ | 66,782 | $ | 12,734 | $ | 5,560 | $ | 6,096 | $ | 267 | $ | 1,765 | $ | 121,998 | |||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,296 | $ | 20,481 | $ | 2,569 | $ | 1,169 | $ | — | $ | — | $ | 142 | $ | 27,657 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 25,471 | $ | 46,233 | $ | 10,165 | $ | 4,388 | $ | 6,096 | $ | 267 | $ | 1,623 | $ | 94,243 | |||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | $ | 27 | $ | 68 | $ | — | $ | 3 | $ | — | $ | — | $ | — | $ | 98 | |||||||||||||||||||||||||||
Loans at period end | |||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 33,608 | $ | 139,878 | $ | 14,590 | $ | 14,810 | $ | — | $ | 53 | $ | 1,606 | $ | 204,545 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 2,876,180 | 3,668,164 | 773,884 | 351,547 | 3,198,563 | 77,280 | 99,547 | 11,045,165 | |||||||||||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 5,010 | 56,076 | — | 856 | 514,459 | — | 2,832 | 579,233 | |||||||||||||||||||||||||||||||||||
Summary of Activity in the Allowance for Covered Loan Losses | ' | ||||||||||||||||||||||||||||||||||||||||||
A summary of activity in the allowance for covered loan losses for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||
Years Ended | |||||||||||||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 13,454 | $ | 12,977 | |||||||||||||||||||||||||||||||||||||||
Provision for covered loan losses before benefit attributable to FDIC loss share agreements | 246 | 20,282 | |||||||||||||||||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (197 | ) | (16,258 | ) | |||||||||||||||||||||||||||||||||||||||
Net provision for covered loan losses | 49 | 4,024 | |||||||||||||||||||||||||||||||||||||||||
Increase in FDIC indemnification asset | 197 | 16,258 | |||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (15,085 | ) | (19,921 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries of loans charged-off | 11,477 | 116 | |||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (3,608 | ) | (19,805 | ) | |||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 10,092 | $ | 13,454 | |||||||||||||||||||||||||||||||||||||||
Summary of Impaired Loans, Including Restructured Loans | ' | ||||||||||||||||||||||||||||||||||||||||||
A summary of impaired loans, including TDRs, at December 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Impaired loans (included in non-performing and restructured loans): | |||||||||||||||||||||||||||||||||||||||||||
Impaired loans with an allowance for loan loss required (1) | $ | 92,184 | $ | 89,983 | |||||||||||||||||||||||||||||||||||||||
Impaired loans with no allowance for loan loss required | 70,045 | 114,562 | |||||||||||||||||||||||||||||||||||||||||
Total impaired loans (2) | $ | 162,229 | $ | 204,545 | |||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 8,265 | $ | 13,575 | |||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings | $ | 107,103 | $ | 126,473 | |||||||||||||||||||||||||||||||||||||||
Reduction of interest income from non-accrual loans | $ | 3,971 | $ | 3,866 | |||||||||||||||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 8,920 | $ | 10,819 | |||||||||||||||||||||||||||||||||||||||
-1 | These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans. | ||||||||||||||||||||||||||||||||||||||||||
-2 | Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest. | ||||||||||||||||||||||||||||||||||||||||||
Summary of Impaired Loans Evaluated for Impairment by Loan Class | ' | ||||||||||||||||||||||||||||||||||||||||||
The following tables present impaired loans evaluated for impairment by loan class as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||
As of | For the Year Ended | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Principal | Allowance | Recorded | Recognized | ||||||||||||||||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||||||||||||||||
Impaired loans with a related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 6,297 | $ | 7,001 | $ | 1,078 | $ | 6,611 | $ | 354 | |||||||||||||||||||||||||||||||||
Franchise | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 282 | 294 | 282 | 295 | 14 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 3,099 | 3,099 | 18 | 3,098 | 115 | ||||||||||||||||||||||||||||||||||||||
Land | 10,518 | 11,871 | 259 | 10,323 | 411 | ||||||||||||||||||||||||||||||||||||||
Office | 7,792 | 8,444 | 1,253 | 8,148 | 333 | ||||||||||||||||||||||||||||||||||||||
Industrial | 3,385 | 3,506 | 193 | 3,638 | 179 | ||||||||||||||||||||||||||||||||||||||
Retail | 17,511 | 17,638 | 1,253 | 17,678 | 724 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 3,237 | 3,730 | 235 | 2,248 | 139 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 28,935 | 29,051 | 1,366 | 26,792 | 1,194 | ||||||||||||||||||||||||||||||||||||||
Home equity | 3,985 | 5,238 | 1,593 | 4,855 | 236 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 6,876 | 7,023 | 626 | 6,335 | 273 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 267 | 269 | 109 | 273 | 11 | ||||||||||||||||||||||||||||||||||||||
Impaired loans with no related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 9,890 | $ | 16,333 | $ | — | $ | 13,928 | $ | 1,043 | |||||||||||||||||||||||||||||||||
Franchise | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 354 | 2,311 | — | 2,162 | 121 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 1,463 | 1,530 | — | 1,609 | 64 | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 7,710 | 13,227 | — | 9,680 | 722 | ||||||||||||||||||||||||||||||||||||||
Land | 5,035 | 8,813 | — | 5,384 | 418 | ||||||||||||||||||||||||||||||||||||||
Office | 10,379 | 11,717 | — | 10,925 | 610 | ||||||||||||||||||||||||||||||||||||||
Industrial | 5,087 | 5,267 | — | 5,160 | 328 | ||||||||||||||||||||||||||||||||||||||
Retail | 7,047 | 8,610 | — | 8,462 | 400 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 608 | 1,030 | — | 903 | 47 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 4,077 | 6,213 | — | 5,046 | 352 | ||||||||||||||||||||||||||||||||||||||
Home equity | 6,312 | 7,790 | — | 6,307 | 324 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 10,761 | 13,585 | — | 9,443 | 393 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | 55 | 61 | — | 48 | 6 | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 1,267 | 1,804 | — | 1,307 | 109 | ||||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 162,229 | $ | 195,455 | $ | 8,265 | $ | 170,658 | $ | 8,920 | |||||||||||||||||||||||||||||||||
As of | For the Year Ended | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Principal | Allowance | Recorded | Recognized | ||||||||||||||||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||||||||||||||||
Impaired loans with a related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 11,010 | $ | 12,562 | $ | 1,982 | $ | 13,312 | $ | 881 | |||||||||||||||||||||||||||||||||
Franchise | 1,792 | 1,792 | 1,259 | 1,792 | 122 | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 511 | 511 | 55 | 484 | 26 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 2,007 | 2,007 | 389 | 2,007 | 98 | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 1,865 | 1,865 | 70 | 1,865 | 78 | ||||||||||||||||||||||||||||||||||||||
Land | 12,184 | 12,860 | 1,414 | 12,673 | 483 | ||||||||||||||||||||||||||||||||||||||
Office | 5,829 | 5,887 | 622 | 5,936 | 246 | ||||||||||||||||||||||||||||||||||||||
Industrial | 1,150 | 1,200 | 224 | 1,208 | 75 | ||||||||||||||||||||||||||||||||||||||
Retail | 13,240 | 13,314 | 343 | 13,230 | 584 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 3,954 | 3,954 | 348 | 3,972 | 157 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 22,249 | 23,166 | 2,989 | 23,185 | 1,165 | ||||||||||||||||||||||||||||||||||||||
Home equity | 7,270 | 7,313 | 2,569 | 7,282 | 271 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 6,420 | 6,931 | 1,169 | 6,424 | 226 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 502 | 502 | 142 | 502 | 26 | ||||||||||||||||||||||||||||||||||||||
Impaired loans with no related ASC 310 allowance recorded | |||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 20,270 | $ | 27,574 | $ | — | $ | 23,877 | $ | 1,259 | |||||||||||||||||||||||||||||||||
Franchise | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Mortgage warehouse lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Community Advantage—homeowners association | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Aircraft | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Asset-based lending | 25 | 1,362 | — | 252 | 76 | ||||||||||||||||||||||||||||||||||||||
Tax exempt | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Leases | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 4,085 | 4,440 | — | 4,507 | 143 | ||||||||||||||||||||||||||||||||||||||
Commercial construction | 12,263 | 13,395 | — | 13,635 | 540 | ||||||||||||||||||||||||||||||||||||||
Land | 12,163 | 17,141 | — | 14,646 | 906 | ||||||||||||||||||||||||||||||||||||||
Office | 8,939 | 9,521 | — | 9,432 | 437 | ||||||||||||||||||||||||||||||||||||||
Industrial | 3,598 | 3,776 | — | 3,741 | 181 | ||||||||||||||||||||||||||||||||||||||
Retail | 18,073 | 18,997 | — | 19,067 | 892 | ||||||||||||||||||||||||||||||||||||||
Multi-family | 2,817 | 4,494 | — | 4,120 | 222 | ||||||||||||||||||||||||||||||||||||||
Mixed use and other | 15,462 | 17,210 | — | 16,122 | 912 | ||||||||||||||||||||||||||||||||||||||
Home equity | 7,320 | 8,758 | — | 8,164 | 376 | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 8,390 | 9,189 | — | 9,069 | 337 | ||||||||||||||||||||||||||||||||||||||
Premium finance receivables | |||||||||||||||||||||||||||||||||||||||||||
Commercial insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Purchased life insurance | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Indirect consumer | 53 | 61 | — | 65 | 6 | ||||||||||||||||||||||||||||||||||||||
Consumer and other | 1,104 | 1,558 | — | 1,507 | 94 | ||||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income, excluding covered loans | $ | 204,545 | $ | 231,340 | $ | 13,575 | $ | 222,076 | $ | 10,819 | |||||||||||||||||||||||||||||||||
Summary of the Post-Modification Balance of Loans Restructured | ' | ||||||||||||||||||||||||||||||||||||||||||
The tables below present a summary of the post-modification balance of loans restructured during the years ended December 31, 2013, 2012, and 2011, which represent TDRs: | |||||||||||||||||||||||||||||||||||||||||||
Year ended | Total (1)(2) | Extension at | Reduction of | Modification to | Forgiveness of Debt (2) | ||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Below Market | Interest Rate (2) | Interest-only | ||||||||||||||||||||||||||||||||||||||||
Terms (2) | Payments (2) | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 708 | 5 | $ | 573 | 4 | $ | 553 | 2 | $ | 185 | — | $ | — | ||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Commercial construction | 3 | 6,120 | 3 | 6,120 | — | — | 3 | 6,120 | — | — | |||||||||||||||||||||||||||||||||
Land | 3 | 2,639 | 3 | 2,639 | 2 | 287 | — | — | 1 | 73 | |||||||||||||||||||||||||||||||||
Office | 4 | 4,021 | 4 | 4,021 | 1 | 556 | — | — | — | — | |||||||||||||||||||||||||||||||||
Industrial | 1 | 949 | 1 | 949 | 1 | 949 | — | — | — | — | |||||||||||||||||||||||||||||||||
Retail | 1 | 200 | 1 | 200 | 1 | 200 | — | — | — | — | |||||||||||||||||||||||||||||||||
Multi-family | 1 | 705 | 1 | 705 | 1 | 705 | — | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use and other | 6 | 5,042 | 6 | 5,042 | 5 | 4,947 | 1 | 932 | — | — | |||||||||||||||||||||||||||||||||
Residential real estate and other | 10 | 2,296 | 6 | 1,613 | 7 | 931 | 2 | 234 | 1 | 1,000 | |||||||||||||||||||||||||||||||||
Total loans | 35 | $ | 22,680 | 30 | $ | 21,862 | 22 | $ | 9,128 | 8 | $ | 7,471 | 2 | $ | 1,073 | ||||||||||||||||||||||||||||
Year ended | Total (1)(2) | Extension at | Reduction of | Modification to | Forgiveness of Debt (2) | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Below Market | Interest Rate (2) | Interest-only | ||||||||||||||||||||||||||||||||||||||||
Terms (2) | Payments (2) | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 18 | $ | 14,311 | 11 | $ | 3,603 | 11 | $ | 13,691 | 7 | $ | 10,579 | 3 | $ | 2,311 | ||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 3 | 2,147 | 3 | 2,147 | 1 | 496 | 1 | 496 | — | — | |||||||||||||||||||||||||||||||||
Commercial construction | 2 | 622 | 2 | 622 | 2 | 622 | 2 | 622 | — | — | |||||||||||||||||||||||||||||||||
Land | 17 | 31,836 | 17 | 31,836 | 14 | 30,561 | 13 | 26,511 | — | — | |||||||||||||||||||||||||||||||||
Office | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Industrial | 1 | 727 | 1 | 727 | 1 | 727 | — | — | — | — | |||||||||||||||||||||||||||||||||
Retail | 8 | 13,518 | 8 | 13,518 | 6 | 8,865 | 6 | 12,897 | — | — | |||||||||||||||||||||||||||||||||
Multi-family | 1 | 380 | — | — | 1 | 380 | 1 | 380 | — | — | |||||||||||||||||||||||||||||||||
Mixed use and other | 15 | 7,333 | 9 | 4,769 | 11 | 6,268 | 8 | 3,974 | — | — | |||||||||||||||||||||||||||||||||
Residential real estate and other | 10 | 1,638 | 8 | 1,390 | 6 | 631 | 3 | 924 | 1 | 29 | |||||||||||||||||||||||||||||||||
Total loans | 75 | $ | 72,512 | 59 | $ | 58,612 | 53 | $ | 62,241 | 41 | $ | 56,383 | 4 | $ | 2,340 | ||||||||||||||||||||||||||||
Year ended | Total (1)(2) | Extension at | Reduction of | Modification to | Forgiveness of Debt (2) | ||||||||||||||||||||||||||||||||||||||
December 31, 2011 | Below Market | Interest Rate (2) | Interest-only | ||||||||||||||||||||||||||||||||||||||||
Terms (2) | Payments (2) | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 24 | $ | 6,956 | 11 | $ | 2,273 | 14 | $ | 1,933 | 13 | $ | 3,780 | 2 | $ | 135 | ||||||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | 1 | 1,105 | 1 | 1,105 | — | — | 1 | 1,105 | — | — | |||||||||||||||||||||||||||||||||
Commercial construction | 8 | 12,140 | 7 | 11,673 | 3 | 9,402 | 1 | 467 | — | — | |||||||||||||||||||||||||||||||||
Land | 7 | 7,971 | 7 | 7,971 | 2 | 2,981 | — | — | — | — | |||||||||||||||||||||||||||||||||
Office | 9 | 8,870 | 6 | 4,780 | 6 | 4,036 | 3 | 4,292 | — | — | |||||||||||||||||||||||||||||||||
Industrial | 5 | 5,334 | 5 | 5,334 | 4 | 3,494 | 2 | 2,181 | — | — | |||||||||||||||||||||||||||||||||
Retail | 14 | 19,113 | 11 | 16,981 | 5 | 3,963 | 5 | 5,191 | — | — | |||||||||||||||||||||||||||||||||
Multi-family | 6 | 4,415 | 6 | 4,415 | 5 | 3,866 | — | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use and other | 33 | 28,708 | 21 | 14,775 | 28 | 25,921 | 10 | 8,068 | — | — | |||||||||||||||||||||||||||||||||
Residential real estate and other | 16 | 5,916 | 7 | 2,326 | 13 | 5,262 | 4 | 1,390 | — | — | |||||||||||||||||||||||||||||||||
Total loans | 123 | $ | 100,528 | 82 | $ | 71,633 | 80 | $ | 60,858 | 39 | $ | 26,474 | 2 | $ | 135 | ||||||||||||||||||||||||||||
-1 | TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above. | ||||||||||||||||||||||||||||||||||||||||||
-2 | Balances represent the recorded investment in the loan at the time of the restructuring. | ||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructuring Subsequent Default [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||
The tables below present a summary of all loans restructured in TDRs during the years ended December 31, 2013, 2012, and 2011, and such loans which were in payment default under the restructured terms during the respective periods: | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||
Total (1)(3) | Payments in | Total (1)(3) | Payments in | Total (1)(3) | Payments in | ||||||||||||||||||||||||||||||||||||||
Default (2)(3) | Default (2)(3) | Default (2)(3) | |||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | Count | Balance | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 708 | 1 | $ | 20 | 18 | $ | 14,311 | 4 | $ | 9,925 | 24 | $ | 6,956 | 6 | $ | 1,742 | |||||||||||||||||||||||||
Commercial real-estate | |||||||||||||||||||||||||||||||||||||||||||
Residential construction | — | — | — | — | 3 | 2,147 | — | — | 1 | 1,105 | — | — | |||||||||||||||||||||||||||||||
Commercial construction | 3 | 6,120 | — | — | 2 | 622 | 2 | 622 | 8 | 12,140 | 1 | 467 | |||||||||||||||||||||||||||||||
Land | 3 | 2,639 | 1 | 215 | 17 | 31,836 | 2 | 3,786 | 7 | 7,971 | 2 | 1,667 | |||||||||||||||||||||||||||||||
Office | 4 | 4,021 | 1 | 1,648 | — | — | — | — | 9 | 8,870 | 2 | 2,239 | |||||||||||||||||||||||||||||||
Industrial | 1 | 949 | — | — | 1 | 727 | — | — | 5 | 5,334 | 2 | 3,224 | |||||||||||||||||||||||||||||||
Retail | 1 | 200 | — | — | 8 | 13,518 | 1 | 3,607 | 14 | 19,113 | 2 | 2,694 | |||||||||||||||||||||||||||||||
Multi-family | 1 | 705 | 1 | 705 | 1 | 380 | — | — | 6 | 4,415 | — | — | |||||||||||||||||||||||||||||||
Mixed use and other | 6 | 5,042 | 1 | 95 | 15 | 7,333 | 4 | 1,445 | 33 | 28,708 | 6 | 5,283 | |||||||||||||||||||||||||||||||
Residential real estate and other | 10 | 2,296 | — | — | 10 | 1,638 | 5 | 1,168 | 16 | 5,916 | 4 | 908 | |||||||||||||||||||||||||||||||
Total loans | 35 | $ | 22,680 | 5 | $ | 2,683 | 75 | $ | 72,512 | 18 | $ | 20,553 | 123 | $ | 100,528 | 25 | $ | 18,224 | |||||||||||||||||||||||||
-1 | Total TDRs represent all loans restructured in TDRs during the year indicated. | ||||||||||||||||||||||||||||||||||||||||||
-2 | TDRs considered to be in payment default are over 30 days past-due subsequent to the restructuring. | ||||||||||||||||||||||||||||||||||||||||||
-3 | Balances represent the recorded investment in the loan at the time of the restructuring. |
Mortgage_Servicing_Rights_Tabl
Mortgage Servicing Rights (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosures Pertaining to Servicing Assets and Servicing Liabilities [Abstract] | ' | ||||||||||||
Schedule of Servicing Assets at Fair Value [Table Text Block] | ' | ||||||||||||
Following is a summary of the changes in the carrying value of MSRs, accounted for at fair value, for the years ending December 31, 2013, 2012 and 2011: | |||||||||||||
December 31, | December 31, | December 31, | |||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 6,750 | $ | 6,700 | $ | 8,762 | |||||||
Additions from loans sold with servicing retained | 523 | 4,151 | 2,611 | ||||||||||
Estimate of changes in fair value due to: | |||||||||||||
Payoffs and paydowns | (941 | ) | (3,808 | ) | (2,430 | ) | |||||||
Changes in valuation inputs or assumptions | 2,614 | (293 | ) | (2,243 | ) | ||||||||
Fair value at end of year | $ | 8,946 | $ | 6,750 | $ | 6,700 | |||||||
Unpaid principal balance of mortgage loans serviced for others | $ | 961,619 | $ | 1,005,372 | $ | 958,749 | |||||||
Business_Combinations_Tables
Business Combinations (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Summary of Acquisition of Certain Assets and the Assumption of Liabilities, of Six Financial Institutions in FDIC-Assisted Transactions | ' | ||||||||||||
Since January 1, 2012, the Company has acquired the banking operations, including the acquisition of certain assets and the assumption of liabilities, of three financial institutions in FDIC-assisted transactions. The following table presents details related to these three transactions: | |||||||||||||
(Dollars in thousands) | Charter | Second | First United Bank | ||||||||||
National | Federal (1) | ||||||||||||
Date of acquisition | February 10, | July 20, | September 28, | ||||||||||
2012 | 2012 | 2012 | |||||||||||
Fair value of assets acquired, at the acquisition date | $ | 92,355 | $ | 171,625 | $ | 328,408 | |||||||
Fair value of loans acquired, at the acquisition date | 45,555 | — | 77,964 | ||||||||||
Fair value of liabilities assumed, at the acquisition date | 91,570 | 171,582 | 321,734 | ||||||||||
Fair value of reimbursable losses, at the acquisition date(2) | 13,164 | — | 67,190 | ||||||||||
Gain on bargain purchase recognized | 785 | 43 | 6,675 | ||||||||||
-1 | Subsequent to the acquisition of Second Federal, deposits and banking operations were divested to an unaffiliated financial institution. See "Divestiture of Previous FDIC-Assisted Acquisition" below for further discussion. | ||||||||||||
-2 | As no assets subject to loss sharing agreements were acquired in the acquisition of Second Federal, there was no fair value of reimbursable losses. | ||||||||||||
Summary of FDIC Indemnification Asset | ' | ||||||||||||
The following table summarizes the activity in the Company’s FDIC indemnification asset during the periods indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||
Balance at beginning of period | $ | 208,160 | $ | 344,251 | |||||||||
Additions from acquisitions | — | 80,354 | |||||||||||
Additions from reimbursable expenses | 13,022 | 21,859 | |||||||||||
Amortization | (7,556 | ) | (7,209 | ) | |||||||||
Changes in expected reimbursements from the FDIC for changes in expected credit losses | (74,511 | ) | (61,406 | ) | |||||||||
Payments received from the FDIC | (53,443 | ) | (169,689 | ) | |||||||||
Balance at end of period | $ | 85,672 | $ | 208,160 | |||||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Goodwill Assets by Business Segment | ' | ||||||||||||||||||||
A summary of the Company’s goodwill assets by business segment is presented in the following table: | |||||||||||||||||||||
(Dollars in thousands) | January 1, | Goodwill | Impairment | Goodwill Adjustments | December 31, | ||||||||||||||||
2013 | Acquired | Loss | 2013 | ||||||||||||||||||
Community banking | $ | 274,963 | $ | 31,846 | $ | — | $ | (1,496 | ) | $ | 305,313 | ||||||||||
Specialty finance | 38,574 | — | — | (1,204 | ) | 37,370 | |||||||||||||||
Wealth management | 31,864 | — | — | — | 31,864 | ||||||||||||||||
Total | $ | 345,401 | $ | 31,846 | $ | — | $ | (2,700 | ) | $ | 374,547 | ||||||||||
Summary of Finite-Lived Intangible Assets | ' | ||||||||||||||||||||
A summary of finite-lived intangible assets as of the dates shown and the expected amortization as of December 31, 2013 is as follows: | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||
Community banking segment: | |||||||||||||||||||||
Core deposit intangibles: | |||||||||||||||||||||
Gross carrying amount | $ | 40,770 | $ | 38,176 | |||||||||||||||||
Accumulated amortization | (29,189 | ) | (25,159 | ) | |||||||||||||||||
Net carrying amount | $ | 11,581 | $ | 13,017 | |||||||||||||||||
Specialty finance segment: | |||||||||||||||||||||
Customer list intangibles: | |||||||||||||||||||||
Gross carrying amount | $ | 1,800 | $ | 1,800 | |||||||||||||||||
Accumulated amortization | (805 | ) | (645 | ) | |||||||||||||||||
Net carrying amount | $ | 995 | $ | 1,155 | |||||||||||||||||
Wealth management segment: | |||||||||||||||||||||
Customer list and other intangibles: | |||||||||||||||||||||
Gross carrying amount | $ | 7,690 | $ | 7,390 | |||||||||||||||||
Accumulated amortization | (1,053 | ) | (615 | ) | |||||||||||||||||
Net carrying amount | $ | 6,637 | $ | 6,775 | |||||||||||||||||
Total other intangible assets, net | $ | 19,213 | $ | 20,947 | |||||||||||||||||
Estimated Amortization | ' | ||||||||||||||||||||
Estimated amortization | |||||||||||||||||||||
Estimated—2014 | $ | 4,369 | |||||||||||||||||||
Estimated—2015 | 2,791 | ||||||||||||||||||||
Estimated—2016 | 2,180 | ||||||||||||||||||||
Estimated—2017 | 1,764 | ||||||||||||||||||||
Estimated—2018 | 1,544 | ||||||||||||||||||||
Premises_and_Equipment_Net_Tab
Premises and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Summary of Premises and Equipment | ' | ||||||||
A summary of premises and equipment at December 31, 2013 and 2012 is as follows: | |||||||||
December 31, | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Land | $ | 116,906 | $ | 105,427 | |||||
Buildings and leasehold improvements | 440,456 | 415,502 | |||||||
Furniture, equipment, and computer software | 144,854 | 134,945 | |||||||
Construction in progress | 17,966 | 10,353 | |||||||
720,182 | 666,227 | ||||||||
Less: Accumulated depreciation and amortization | 188,235 | 165,022 | |||||||
Total premises and equipment, net | $ | 531,947 | $ | 501,205 | |||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deposits [Abstract] | ' | ||||||||
Summary of Deposits | ' | ||||||||
The following is a summary of deposits at December 31, 2013 and 2012: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Balance: | |||||||||
Non-interest bearing | $ | 2,721,771 | $ | 2,396,264 | |||||
NOW | 1,953,882 | 2,022,957 | |||||||
Wealth management deposits | 1,013,850 | 991,902 | |||||||
Money market | 3,359,999 | 2,761,498 | |||||||
Savings | 1,392,575 | 1,275,012 | |||||||
Time certificates of deposit | 4,226,712 | 4,980,911 | |||||||
Total deposits | $ | 14,668,789 | $ | 14,428,544 | |||||
Mix: | |||||||||
Non-interest bearing | 19 | % | 17 | % | |||||
NOW | 13 | 14 | |||||||
Wealth management deposits | 7 | 7 | |||||||
Money market | 23 | 19 | |||||||
Savings | 9 | 9 | |||||||
Time certificates of deposit | 29 | 34 | |||||||
Total deposits | 100 | % | 100 | % | |||||
Schedule of Maturities of Time Certificates of Deposit | ' | ||||||||
The scheduled maturities of time certificates of deposit at December 31, 2013 and 2012 are as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Due within one year | $ | 2,640,757 | $ | 3,314,646 | |||||
Due in one to two years | 908,443 | 1,042,769 | |||||||
Due in two to three years | 465,788 | 377,180 | |||||||
Due in three to four years | 131,455 | 135,003 | |||||||
Due in four to five years | 74,647 | 105,944 | |||||||
Due after five years | 5,622 | 5,369 | |||||||
Total time certificate of deposits | $ | 4,226,712 | $ | 4,980,911 | |||||
Schedule of Maturities of Time Deposits | ' | ||||||||
The following table sets forth the scheduled maturities of time deposits in denominations of $100,000 or more at December 31, 2013 and 2012: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Maturing within three months | $ | 584,948 | $ | 591,901 | |||||
After three but within six months | 395,118 | 719,425 | |||||||
After six but within 12 months | 647,389 | 982,407 | |||||||
After 12 months | 1,088,954 | 1,073,016 | |||||||
Total | $ | 2,716,409 | $ | 3,366,749 | |||||
Federal_Home_Loan_Bank_Advance1
Federal Home Loan Bank Advances (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Advances from Federal Home Loan Banks [Abstract] | ' | ||||||||
Summary of Outstanding FHLB Advances | ' | ||||||||
A summary of the outstanding FHLB advances at December 31, 2013 and 2012, is as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
1.45% advance due July 2013 | — | 26,000 | |||||||
0.13% advance due January 2014 | 30,000 | — | |||||||
1.94% advance due July 2014 | 10,000 | 10,000 | |||||||
1.58% advance due September 2014 | 25,127 | 25,300 | |||||||
1.63% advance due September 2014 | 25,135 | 25,322 | |||||||
0.72% advance due February 2015 | 141,000 | 141,000 | |||||||
0.73% advance due February 2015 | 5,000 | 5,000 | |||||||
0.99% advance due February 2016 | 26,500 | 26,500 | |||||||
1.25% advance due February 2017 | 25,000 | 25,000 | |||||||
3.47% advance due November 2017 | 10,000 | 10,000 | |||||||
1.49% advance due February 2018 | 95,000 | 95,000 | |||||||
4.18% advance due February 2022 | 25,000 | 25,000 | |||||||
Total Federal Home Loan Bank advances | $ | 417,762 | $ | 414,122 | |||||
Other_Borrowings_Tables
Other Borrowings (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Borrowings [Abstract] | ' | ||||||||
Summary Of Other Borrowings | ' | ||||||||
The following is a summary of other borrowings at December 31, 2013 and 2012: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Securities sold under repurchase agreements | $ | 235,347 | $ | 238,401 | |||||
Other | 19,393 | 36,010 | |||||||
Secured borrowings — owed to securitization investors | — | — | |||||||
Total other borrowings | $ | 254,740 | $ | 274,411 | |||||
Junior_Subordinated_Debentures1
Junior Subordinated Debentures (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust [Abstract] | ' | |||||||||||||||||||||||||||
Summary of the Company's Junior Subordinated Debentures | ' | |||||||||||||||||||||||||||
The following table provides a summary of the Company’s junior subordinated debentures as of December 31, 2013 and 2012. The junior subordinated debentures represent the par value of the obligations owed to the Trusts. | ||||||||||||||||||||||||||||
Common Securities | Trust Preferred Securities | Junior | Rate Structure | Contractual rate at 12/31/2013 | Maturity Date | Earliest Redemption Date | ||||||||||||||||||||||
Subordinated | ||||||||||||||||||||||||||||
Debentures | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | Issue Date | |||||||||||||||||||||||||
Wintrust Capital Trust III | $ | 774 | $ | 25,000 | $ | 25,774 | $ | 25,774 | L+3.25 | 3.49 | % | Apr-03 | Apr-33 | Apr-08 | ||||||||||||||
Wintrust Statutory Trust IV | 619 | 20,000 | 20,619 | 20,619 | L+2.80 | 3.05 | % | Dec-03 | Dec-33 | Dec-08 | ||||||||||||||||||
Wintrust Statutory Trust V | 1,238 | 40,000 | 41,238 | 41,238 | L+2.60 | 2.85 | % | May-04 | May-34 | Jun-09 | ||||||||||||||||||
Wintrust Capital Trust VII | 1,550 | 50,000 | 51,550 | 51,550 | L+1.95 | 2.19 | % | Dec-04 | Mar-35 | Mar-10 | ||||||||||||||||||
Wintrust Capital Trust VIII | 1,238 | 40,000 | 41,238 | 41,238 | L+1.45 | 1.7 | % | Aug-05 | Sep-35 | Sep-10 | ||||||||||||||||||
Wintrust Capital Trust IX | 1,547 | 50,000 | 51,547 | 51,547 | L+1.63 | 1.87 | % | Sep-06 | Sep-36 | Sep-11 | ||||||||||||||||||
Northview Capital Trust I | 186 | 6,000 | 6,186 | 6,186 | L+3.00 | 3.24 | % | Aug-03 | Nov-33 | Aug-08 | ||||||||||||||||||
Town Bankshares Capital Trust I | 186 | 6,000 | 6,186 | 6,186 | L+3.00 | 3.24 | % | Aug-03 | Nov-33 | Aug-08 | ||||||||||||||||||
First Northwest Capital Trust I | 155 | 5,000 | 5,155 | 5,155 | L+3.00 | 3.25 | % | May-04 | May-34 | May-09 | ||||||||||||||||||
Total | $ | 249,493 | $ | 249,493 | 2.43 | % | ||||||||||||||||||||||
Minimum_Lease_Commitments_Tabl
Minimum Lease Commitments (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Approximate Minimum Annual Gross Rental Payments and Gross Rental Income | ' | ||||||||
The approximate minimum annual gross rental payments and gross rental income under noncancelable agreements for office space with remaining terms in excess of one year as of December 31, 2013, are as follows (in thousands): | |||||||||
Payments | Income | ||||||||
2014 | $ | 5,112 | $ | 5,089 | |||||
2015 | 5,180 | 4,941 | |||||||
2016 | 4,852 | 4,248 | |||||||
2017 | 4,343 | 3,636 | |||||||
2018 | 3,693 | 3,025 | |||||||
2019 and thereafter | 9,851 | 4,330 | |||||||
Total minimum future amounts | $ | 33,031 | $ | 25,269 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Expense (Benefit) | ' | ||||||||||||
Income tax expense (benefit) for the years ended December 31, 2013, 2012 and 2011 is summarized as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Current income taxes: | |||||||||||||
Federal | $ | 67,449 | $ | 74,109 | $ | 40,312 | |||||||
State | 16,046 | 16,224 | 10,785 | ||||||||||
Foreign | 2,196 | 1,918 | — | ||||||||||
Total current income taxes | $ | 85,691 | $ | 92,251 | $ | 51,097 | |||||||
Deferred income taxes: | |||||||||||||
Federal | 1,813 | (19,550 | ) | (555 | ) | ||||||||
State | (114 | ) | (4,206 | ) | (84 | ) | |||||||
Foreign | (160 | ) | 441 | — | |||||||||
Total deferred income taxes | 1,539 | (23,315 | ) | (639 | ) | ||||||||
Total income tax expense | $ | 87,230 | $ | 68,936 | $ | 50,458 | |||||||
Reconciliation of the Differences Between Taxes Computed Using the Statutory Federal Income Tax Rate and Actual Income Tax Expense | ' | ||||||||||||
A reconciliation of the differences between taxes computed using the statutory Federal income tax rate of 35% and actual income tax expense is as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income tax expense based upon the Federal statutory rate on income before income taxes | $ | 78,554 | $ | 63,046 | $ | 44,812 | |||||||
Increase (decrease) in tax resulting from: | |||||||||||||
Tax-exempt interest, net of interest expense disallowance | (1,423 | ) | (1,294 | ) | (1,139 | ) | |||||||
State taxes, net of federal tax benefit | 10,355 | 7,811 | 6,955 | ||||||||||
Income earned on bank owned life insurance | (1,157 | ) | (974 | ) | (854 | ) | |||||||
Non-deductible compensation costs | 654 | 1,156 | 644 | ||||||||||
Meals, entertainment and related expenses | 993 | 931 | 802 | ||||||||||
Foreign subsidiary, net | 588 | 1,991 | — | ||||||||||
Foreign tax credits | — | (2,177 | ) | — | |||||||||
Tax credits, excluding foreign tax credits | (1,553 | ) | (1,906 | ) | (562 | ) | |||||||
Other, net | 219 | 352 | (200 | ) | |||||||||
Income tax expense | $ | 87,230 | $ | 68,936 | $ | 50,458 | |||||||
Deferred Tax Assets and Liabilities | ' | ||||||||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2013 and 2012 are as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for credit losses | $ | 37,525 | $ | 42,480 | |||||||||
Net unrealized losses on derivatives included in other comprehensive income | 1,574 | 3,442 | |||||||||||
Net unrealized losses on securities included in other comprehensive income | 35,216 | — | |||||||||||
Deferred compensation | 16,089 | 7,453 | |||||||||||
Stock-based compensation | 10,340 | 11,333 | |||||||||||
Nonaccrued interest | 1,895 | 3,053 | |||||||||||
Other real estate owned | 6,405 | 9,193 | |||||||||||
Mortgage banking recourse obligation | 1,503 | 1,706 | |||||||||||
Covered assets | 13,616 | 7,527 | |||||||||||
Pension plan liabilities | 1,035 | 916 | |||||||||||
Federal net operating loss carryforward | 2,452 | — | |||||||||||
AMT credit carryforward | 1,346 | 345 | |||||||||||
State tax losses carryforward | 3,294 | 130 | |||||||||||
Foreign tax credit carryforward | — | 1,042 | |||||||||||
Other | 2,149 | 2,072 | |||||||||||
Total gross deferred tax assets | 134,439 | 90,692 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Discount on purchased loans | 5,718 | 27,458 | |||||||||||
Premises and equipment | 36,847 | 29,725 | |||||||||||
Goodwill and intangible assets | 1,683 | 338 | |||||||||||
Deferred loan fees and costs | 4,533 | 4,487 | |||||||||||
FHLB stock dividends | 1,431 | 1,610 | |||||||||||
Capitalized servicing rights | 3,547 | 2,670 | |||||||||||
Net unrealized gains on securities included in other comprehensive income | — | 4,336 | |||||||||||
Fair value adjustments on loans | 6,947 | 6,634 | |||||||||||
Other | 3,606 | 2,680 | |||||||||||
Total gross deferred liabilities | 64,312 | 79,938 | |||||||||||
Valuation allowance | — | 1,042 | |||||||||||
Net deferred tax assets | $ | 70,127 | $ | 9,712 | |||||||||
Stock_Compensation_Plans_and_O1
Stock Compensation Plans and Other Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||||||||
Weighted Average Assumptions Used to Determine the Options Fair Value | ' | |||||||||||||||||||||
The following table presents the weighted average assumptions used to determine the fair value of options granted in the years ending December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Expected dividend yield | 0.5 | % | 0.6 | % | 0.5 | % | ||||||||||||||||
Expected volatility | 59 | % | 62.6 | % | 61.8 | % | ||||||||||||||||
Risk-free rate | 1 | % | 0.7 | % | 1 | % | ||||||||||||||||
Expected option life (in years) | 4.5 | 4.5 | 4.4 | |||||||||||||||||||
Summary of Stock Option Activity | ' | |||||||||||||||||||||
A summary of the Plans’ stock option activity for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||||||||||||
Stock Options | Common | Weighted Average | Remaining | Intrinsic Value(2) | ||||||||||||||||||
Shares | Strike Price | Contractual Term(1) | $0 | |||||||||||||||||||
Outstanding at January 1, 2011 | 2,040,701 | $ | 38.92 | |||||||||||||||||||
Granted | 221,003 | 33.15 | ||||||||||||||||||||
Exercised | (85,706 | ) | 17.2 | |||||||||||||||||||
Forfeited or canceled | (111,464 | ) | 46.01 | |||||||||||||||||||
Outstanding at December 31, 2011 | 2,064,534 | $ | 38.83 | 2.7 | $ | 3,809 | ||||||||||||||||
Exercisable at December 31, 2011 | 1,779,218 | $ | 39.93 | 2.3 | $ | 3,558 | ||||||||||||||||
Outstanding at January 1, 2012 | 2,064,534 | $ | 38.83 | |||||||||||||||||||
Granted | 250,997 | 31.16 | ||||||||||||||||||||
Exercised | (484,709 | ) | 21.43 | |||||||||||||||||||
Forfeited or canceled | (85,395 | ) | 43.7 | |||||||||||||||||||
Outstanding at December 31, 2012 | 1,745,427 | $ | 42.31 | 3.1 | $ | 3,836 | ||||||||||||||||
Exercisable at December 31, 2012 | 1,346,287 | $ | 45.57 | 2.3 | $ | 1,677 | ||||||||||||||||
Outstanding at January 1, 2013 | 1,745,427 | $ | 42.31 | |||||||||||||||||||
Granted | 236,120 | 38.01 | ||||||||||||||||||||
Exercised | (371,826 | ) | 40.46 | |||||||||||||||||||
Forfeited or canceled | (85,049 | ) | 44.12 | |||||||||||||||||||
Outstanding at December 31, 2013 | 1,524,672 | $ | 42 | 2.6 | $ | 11,021 | ||||||||||||||||
Exercisable at December 31, 2013 | 1,097,836 | $ | 44.82 | 1.5 | $ | 6,165 | ||||||||||||||||
Vested or expected to vest at December 31, 2013 | 1,522,161 | $ | 42.02 | |||||||||||||||||||
-1 | Represents the weighted average contractual remaining life in years. | |||||||||||||||||||||
-2 | Aggregate intrinsic value represents the total pretax intrinsic value (i.e., the difference between the Company’s stock price at year end and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the year. Options with exercise prices above the year end stock price are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company’s stock. | |||||||||||||||||||||
Summary of Plans' Restricted Share Award Activity | ' | |||||||||||||||||||||
A summary of the Plans’ restricted share and performance-based stock award activity for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Restricted Shares | Common | Weighted | Common | Weighted | Common | Weighted | ||||||||||||||||
Shares | Average | Shares | Average | Shares | Average | |||||||||||||||||
Grant-Date | Grant-Date | Grant-Date | ||||||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||
Outstanding at January 1 | 314,226 | $ | 37.99 | 336,709 | $ | 38.29 | 299,040 | $ | 39.44 | |||||||||||||
Granted | 16,932 | 42.14 | 111,207 | 32.37 | 98,394 | 32.85 | ||||||||||||||||
Vested and issued | (144,860 | ) | 31.83 | (132,337 | ) | 34.12 | (56,641 | ) | 35.17 | |||||||||||||
Forfeited | (4,776 | ) | 33.93 | (1,353 | ) | 30.99 | (4,084 | ) | 34.73 | |||||||||||||
Outstanding at end of year | 181,522 | $ | 43.39 | 314,226 | $ | 37.99 | 336,709 | $ | 38.29 | |||||||||||||
Vested, but not issuable at end of year | 85,000 | $ | 51.88 | 85,000 | $ | 51.88 | 85,000 | $ | 51.88 | |||||||||||||
Performance Shares | ||||||||||||||||||||||
Outstanding at January 1 | 153,915 | $ | 31.78 | 72,158 | $ | 33.25 | — | $ | — | |||||||||||||
Granted | 106,268 | 37.9 | 119,476 | 31.1 | 100,993 | 33.25 | ||||||||||||||||
Vested and issued | — | — | — | — | — | — | ||||||||||||||||
Net decrease due to estimated performance | (106,005 | ) | 34.17 | (33,147 | ) | 32.5 | (28,062 | ) | 33.25 | |||||||||||||
Forfeited | (10,322 | ) | 34.19 | (4,572 | ) | 31.98 | (773 | ) | 33.28 | |||||||||||||
Outstanding at end of year | 143,856 | $ | 34.37 | 153,915 | $ | 31.78 | 72,158 | $ | 33.25 | |||||||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||||||||||||
Minimum Capital Requirements | ' | ||||||||||||||||||||||||||||
As reflected in the following table, the Company met all minimum capital requirements at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Total Capital to Risk Weighted Assets | 12.9 | % | 13.1 | % | |||||||||||||||||||||||||
Tier 1 Capital to Risk Weighted Assets | 12.2 | % | 12.1 | % | |||||||||||||||||||||||||
Tier 1 Leverage Ratio | 10.5 | % | 10 | % | |||||||||||||||||||||||||
Actual Capital Amounts And Ratios | ' | ||||||||||||||||||||||||||||
The banks’ actual capital amounts and ratios as of December 31, 2013 and 2012 are presented in the following table: | |||||||||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Actual | To Be Well | Actual | To Be Well | ||||||||||||||||||||||||||
Capitalized by | Capitalized by | ||||||||||||||||||||||||||||
Regulatory Definition | Regulatory Definition | ||||||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||
Total Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||||||
Lake Forest Bank | $ | 236,055 | 11.7 | % | $ | 202,443 | 10 | % | $ | 226,234 | 11 | % | $ | 205,188 | 10 | % | |||||||||||||
Hinsdale Bank | 152,266 | 11.4 | 134,106 | 10 | 154,677 | 12.2 | 126,837 | 10 | |||||||||||||||||||||
North Shore Community Bank | 232,454 | 11.6 | 200,806 | 10 | 202,823 | 11.5 | 176,124 | 10 | |||||||||||||||||||||
Libertyville Bank | 111,396 | 11.4 | 97,777 | 10 | 116,818 | 11.9 | 97,880 | 10 | |||||||||||||||||||||
Barrington Bank | 128,924 | 11 | 117,103 | 10 | 148,382 | 13.5 | 109,526 | 10 | |||||||||||||||||||||
Crystal Lake Bank | 85,922 | 13 | 66,066 | 10 | 84,310 | 14.5 | 58,091 | 10 | |||||||||||||||||||||
Northbrook Bank | 142,512 | 11 | 130,208 | 10 | 139,603 | 12.2 | 114,057 | 10 | |||||||||||||||||||||
Schaumburg Bank | 70,728 | 11.4 | 62,130 | 10 | 68,305 | 11.8 | 57,946 | 10 | |||||||||||||||||||||
Village Bank | 95,359 | 11 | 86,435 | 10 | 92,787 | 11.5 | 80,441 | 10 | |||||||||||||||||||||
Beverly Bank | 70,754 | 11.2 | 63,251 | 10 | 61,994 | 11.1 | 55,697 | 10 | |||||||||||||||||||||
Town Bank | 85,647 | 11.2 | 76,234 | 10 | 83,144 | 11.5 | 72,373 | 10 | |||||||||||||||||||||
Wheaton Bank | 77,177 | 13 | 59,354 | 10 | 71,097 | 13.6 | 52,450 | 10 | |||||||||||||||||||||
State Bank of the Lakes | 73,248 | 11.9 | 61,698 | 10 | 71,178 | 11.5 | 61,886 | 10 | |||||||||||||||||||||
Old Plank Trail Bank | 96,495 | 12.7 | 75,834 | 10 | 74,445 | 14.7 | 50,582 | 10 | |||||||||||||||||||||
St. Charles Bank | 71,170 | 11.4 | 62,669 | 10 | 66,079 | 11.3 | 58,341 | 10 | |||||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||||||
Lake Forest Bank | $ | 222,577 | 11 | % | $ | 121,466 | 6 | % | $ | 209,699 | 10.2 | % | $ | 123,113 | 6 | % | |||||||||||||
Hinsdale Bank | 144,196 | 10.8 | 80,463 | 6 | 145,380 | 11.5 | 76,102 | 6 | |||||||||||||||||||||
North Shore Community Bank | 162,903 | 8.1 | 120,484 | 6 | 145,488 | 8.3 | 105,675 | 6 | |||||||||||||||||||||
Libertyville Bank | 103,895 | 10.6 | 58,666 | 6 | 105,251 | 10.8 | 58,728 | 6 | |||||||||||||||||||||
Barrington Bank | 122,664 | 10.5 | 70,262 | 6 | 140,037 | 12.8 | 65,716 | 6 | |||||||||||||||||||||
Crystal Lake Bank | 79,878 | 12.1 | 39,640 | 6 | 77,962 | 13.4 | 34,855 | 6 | |||||||||||||||||||||
Northbrook Bank | 131,591 | 10.1 | 78,125 | 6 | 125,192 | 11 | 68,434 | 6 | |||||||||||||||||||||
Schaumburg Bank | 64,263 | 10.3 | 37,278 | 6 | 62,538 | 10.8 | 34,768 | 6 | |||||||||||||||||||||
Village Bank | 88,961 | 10.3 | 51,861 | 6 | 86,435 | 10.7 | 48,265 | 6 | |||||||||||||||||||||
Beverly Bank | 65,385 | 10.3 | 37,951 | 6 | 59,440 | 10.7 | 33,418 | 6 | |||||||||||||||||||||
Town Bank | 79,843 | 10.5 | 45,741 | 6 | 76,824 | 10.6 | 43,424 | 6 | |||||||||||||||||||||
Wheaton Bank | 69,730 | 11.8 | 35,613 | 6 | 64,509 | 12.3 | 31,470 | 6 | |||||||||||||||||||||
State Bank of the Lakes | 68,399 | 11.1 | 37,019 | 6 | 61,521 | 9.9 | 37,131 | 6 | |||||||||||||||||||||
Old Plank Trail Bank | 92,694 | 12.2 | 45,500 | 6 | 66,170 | 13.1 | 30,349 | 6 | |||||||||||||||||||||
St. Charles Bank | 64,922 | 10.4 | 37,601 | 6 | 60,753 | 10.4 | 35,004 | 6 | |||||||||||||||||||||
Tier 1 Leverage Ratio: | |||||||||||||||||||||||||||||
Lake Forest Bank | $ | 222,577 | 9.6 | % | $ | 116,340 | 5 | % | $ | 209,699 | 8.8 | % | $ | 119,601 | 5 | % | |||||||||||||
Hinsdale Bank | 144,196 | 9.5 | 75,822 | 5 | 145,380 | 8.7 | 83,238 | 5 | |||||||||||||||||||||
North Shore Community Bank | 162,903 | 7.2 | 113,580 | 5 | 145,488 | 7.2 | 101,553 | 5 | |||||||||||||||||||||
Libertyville Bank | 103,895 | 9.2 | 56,703 | 5 | 105,251 | 8.9 | 59,379 | 5 | |||||||||||||||||||||
Barrington Bank | 122,664 | 8.9 | 69,270 | 5 | 140,037 | 9.7 | 72,531 | 5 | |||||||||||||||||||||
Crystal Lake Bank | 79,878 | 10.2 | 39,108 | 5 | 77,962 | 10.3 | 37,971 | 5 | |||||||||||||||||||||
Northbrook Bank | 131,591 | 8.1 | 80,876 | 5 | 125,192 | 7.5 | 83,244 | 5 | |||||||||||||||||||||
Schaumburg Bank | 64,263 | 9 | 35,571 | 5 | 62,538 | 8.7 | 36,061 | 5 | |||||||||||||||||||||
Village Bank | 88,961 | 9.4 | 47,549 | 5 | 86,435 | 9 | 48,068 | 5 | |||||||||||||||||||||
Beverly Bank | 65,385 | 8.8 | 37,281 | 5 | 59,440 | 12.3 | 24,127 | 5 | |||||||||||||||||||||
Town Bank | 79,843 | 9.5 | 42,164 | 5 | 76,824 | 9.4 | 40,671 | 5 | |||||||||||||||||||||
Wheaton Bank | 69,730 | 9.3 | 37,498 | 5 | 64,509 | 8.9 | 36,205 | 5 | |||||||||||||||||||||
State Bank of the Lakes | 68,399 | 9.8 | 34,784 | 5 | 61,521 | 8.4 | 36,570 | 5 | |||||||||||||||||||||
Old Plank Trail Bank | 92,694 | 8.7 | 53,603 | 5 | 66,170 | 8.9 | 37,380 | 5 | |||||||||||||||||||||
St. Charles Bank | 64,922 | 9.6 | 33,975 | 5 | 60,753 | 9.4 | 32,170 | 5 | |||||||||||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||
Interest Rate Cap Derivative Summary | ' | ||||||||||||||||||||||
Below is a summary of the interest rate cap derivatives held by the Company as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Notional | Accounting | Fair Value as of | |||||||||||||||||||||
Effective Date | Maturity Date | Amount | Treatment | 31-Dec-13 | |||||||||||||||||||
30-Sep-11 | 30-Sep-14 | $ | 20,000 | Cash Flow Hedging | $ | — | |||||||||||||||||
30-Sep-11 | 30-Sep-14 | 40,000 | Cash Flow Hedging | — | |||||||||||||||||||
3-May-12 | 3-May-15 | 77,000 | Non-Hedge Designated | 3 | |||||||||||||||||||
3-May-12 | 3-May-16 | 215,000 | Non-Hedge Designated | 532 | |||||||||||||||||||
1-Jun-12 | 1-Apr-15 | 96,530 | Non-Hedge Designated | 2 | |||||||||||||||||||
29-Aug-12 | 29-Aug-16 | 216,500 | Non-Hedge Designated | 979 | |||||||||||||||||||
22-Feb-13 | 22-Aug-16 | 100,000 | Non-Hedge Designated | 526 | |||||||||||||||||||
21-Mar-13 | 21-Mar-17 | 100,000 | Non-Hedge Designated | 1,158 | |||||||||||||||||||
16-May-13 | 16-Nov-16 | 75,000 | Non-Hedge Designated | 558 | |||||||||||||||||||
15-Sep-13 | 15-Sep-17 | 50,000 | Cash Flow Hedging | 970 | |||||||||||||||||||
30-Sep-13 | 30-Sep-17 | 40,000 | Cash Flow Hedging | 806 | |||||||||||||||||||
$ | 1,030,030 | $ | 5,534 | ||||||||||||||||||||
Schedule of Fair Value of Derivative Financial Instruments | ' | ||||||||||||||||||||||
The table below presents the fair value of the Company’s derivative financial instruments as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Derivatives designated as hedging instruments under ASC 815: | |||||||||||||||||||||||
Interest rate derivatives designated as Cash Flow Hedges | $ | 1,776 | $ | 2 | $ | 3,160 | $ | 7,988 | |||||||||||||||
Interest rate derivatives designated as Fair Value Hedges | $ | 107 | $ | 104 | $ | 1 | $ | — | |||||||||||||||
Total derivatives designated as hedging instruments under ASC 815 | $ | 1,883 | $ | 106 | $ | 3,161 | $ | 7,988 | |||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||
Interest rate derivatives | 36,073 | 47,440 | 31,646 | 45,767 | |||||||||||||||||||
Interest rate lock commitments | 7,500 | 6,069 | 147 | 937 | |||||||||||||||||||
Forward commitments to sell mortgage loans | 2,761 | 277 | 2,310 | 3,057 | |||||||||||||||||||
Foreign exchange contracts | 4 | 14 | — | 2 | |||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC 815 | $ | 46,338 | $ | 53,800 | $ | 34,103 | $ | 49,763 | |||||||||||||||
Total derivatives | $ | 48,221 | $ | 53,906 | $ | 37,264 | $ | 57,751 | |||||||||||||||
Schedule of Cash Flow Hedging Instruments | ' | ||||||||||||||||||||||
The table below provides details on each of these cash flow hedges as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | ||||||||||||||||||||||
Maturity Date | Notional | Fair Value | |||||||||||||||||||||
Amount | Asset (Liability) | ||||||||||||||||||||||
Interest Rate Swaps: | |||||||||||||||||||||||
Sep-16 | 50,000 | (2,083 | ) | ||||||||||||||||||||
Oct-16 | 25,000 | (1,077 | ) | ||||||||||||||||||||
Total Interest Rate Swaps | 75,000 | (3,160 | ) | ||||||||||||||||||||
Interest Rate Caps: | |||||||||||||||||||||||
Sep-14 | 20,000 | — | |||||||||||||||||||||
Sep-14 | 40,000 | — | |||||||||||||||||||||
Sep-17 | 50,000 | 970 | |||||||||||||||||||||
Sep-17 | 40,000 | 806 | |||||||||||||||||||||
Total Interest Rate Caps | 150,000 | 1,776 | |||||||||||||||||||||
Total Cash Flow Hedges | $ | 225,000 | $ | (1,384 | ) | ||||||||||||||||||
Rollforward of Amounts in Accumulated Other Comprehensive Income Related to Interest Rate Swaps Designated as Cash Flow Hedges | ' | ||||||||||||||||||||||
A rollforward of the amounts in accumulated other comprehensive income related to interest rate derivatives designated as cash flow hedges follows: | |||||||||||||||||||||||
December 31, | |||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||
Unrealized loss at beginning of period | $ | (8,673 | ) | $ | (11,633 | ) | |||||||||||||||||
Amount reclassified from accumulated other comprehensive income to interest expense on junior subordinated debentures | 5,115 | 5,850 | |||||||||||||||||||||
Amount of loss recognized in other comprehensive income | (413 | ) | (2,890 | ) | |||||||||||||||||||
Unrealized loss at end of period | $ | (3,971 | ) | $ | (8,673 | ) | |||||||||||||||||
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents the gain/(loss) and hedge ineffectiveness recognized on derivative instruments and the related hedged items that are designated as a fair value hedge accounting relationship as of December 31, 2013 and 2012: | |||||||||||||||||||||||
(Dollars in thousands) | Location of Gain or (Loss) | Amount of Gain or (Loss) Recognized | Amount of Gain or (Loss) Recognized | Income Statement Gain/ | |||||||||||||||||||
Recognized in Income on | in Income on Derivative | in Income on Hedged Item | (Loss) due to Hedge | ||||||||||||||||||||
Derivative | Year Ended December 31, | Year Ended December 31, | Ineffectiveness | ||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
Derivatives in Fair Value | |||||||||||||||||||||||
Hedging Relationships | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Interest rate products | Other income | $ | 67 | (480 | ) | $ | (55 | ) | 535 | $ | 12 | 55 | |||||||||||
Summary Amounts Included in Consolidated Statement of Income Related to Derivatives | ' | ||||||||||||||||||||||
Amounts included in the Consolidated Statements of Income related to derivative instruments not designated in hedge relationships were as follows: | |||||||||||||||||||||||
(Dollars in thousands) | December 31, | ||||||||||||||||||||||
Derivative | Location in income statement | 2013 | 2012 | ||||||||||||||||||||
Interest rate swaps and caps | Other income | $ | 853 | $ | (1,974 | ) | |||||||||||||||||
Mortgage banking derivatives | Mortgage banking revenue | 6,026 | 1,659 | ||||||||||||||||||||
Covered call options | Fees from covered call options | 4,773 | 10,476 | ||||||||||||||||||||
Foreign exchange contracts | Other income | (11 | ) | 12 | |||||||||||||||||||
Derivative Asset and Liability Balance Sheet Offsetting [Table Text Block] | ' | ||||||||||||||||||||||
The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative assets and liabilities on the Consolidated Statements of Condition. The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown. | |||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||
Gross Amounts Recognized | $ | 37,956 | $ | 47,546 | $ | 34,807 | $ | 53,755 | |||||||||||||||
Less: Amounts offset in the Statements of Condition | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Net amount presented in the Statements of Condition | $ | 37,956 | $ | 47,546 | $ | 34,807 | $ | 53,755 | |||||||||||||||
Gross amounts not offset in the Statements of Condition | |||||||||||||||||||||||
Offsetting Derivative Positions | (8,826 | ) | (339 | ) | (8,826 | ) | (339 | ) | |||||||||||||||
Securities Collateral Posted (1) | — | — | (25,981 | ) | (46,811 | ) | |||||||||||||||||
Cash Collateral Posted | — | — | — | (6,605 | ) | ||||||||||||||||||
Net Credit Exposure | $ | 29,130 | $ | 47,207 | $ | — | $ | — | |||||||||||||||
(1) As of December 31, 2013 and 2012, the Company posted securities collateral of $34.6 million and $49.9 million, respectively which resulted in excess collateral with its counterparties. For purposes of this disclosure, the amount of posted collateral is limited to the amount offsetting the derivative liability. |
Fair_Value_of_Assets_and_Liabi1
Fair Value of Assets and Liabilities (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Summary of Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented: | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollars in thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Treasury | $ | 336,095 | $ | — | $ | 336,095 | $ | — | |||||||||||||
U.S. Government agencies | 895,688 | — | 895,688 | — | |||||||||||||||||
Municipal | 152,716 | — | 116,330 | 36,386 | |||||||||||||||||
Corporate notes | 135,038 | — | 135,038 | — | |||||||||||||||||
Mortgage-backed | 605,225 | — | 605,225 | — | |||||||||||||||||
Equity securities | 51,528 | — | 29,365 | 22,163 | |||||||||||||||||
Trading account securities | 497 | — | 497 | — | |||||||||||||||||
Mortgage loans held-for-sale | 332,485 | — | 332,485 | — | |||||||||||||||||
Mortgage servicing rights | 8,946 | — | — | 8,946 | |||||||||||||||||
Nonqualified deferred compensations assets | 7,222 | — | 7,222 | — | |||||||||||||||||
Derivative assets | 48,221 | — | 48,221 | — | |||||||||||||||||
Total | $ | 2,573,661 | $ | — | $ | 2,506,166 | $ | 67,495 | |||||||||||||
Derivative liabilities | $ | 37,264 | $ | — | $ | 37,264 | $ | — | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
(Dollars in thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Treasury | $ | 219,487 | $ | — | $ | 219,487 | $ | — | |||||||||||||
U.S. Government agencies | 990,039 | — | 990,039 | — | |||||||||||||||||
Municipal | 110,471 | — | 79,701 | 30,770 | |||||||||||||||||
Corporate notes | 154,806 | — | 154,806 | — | |||||||||||||||||
Mortgage-backed | 271,574 | — | 271,574 | — | |||||||||||||||||
Equity securities | 49,699 | — | 27,530 | 22,169 | |||||||||||||||||
Trading account securities | 583 | — | 583 | — | |||||||||||||||||
Mortgage loans held-for-sale | 385,033 | — | 385,033 | — | |||||||||||||||||
Mortgage servicing rights | 6,750 | — | — | 6,750 | |||||||||||||||||
Nonqualified deferred compensations assets | 5,532 | — | 5,532 | — | |||||||||||||||||
Derivative assets | 53,906 | — | 53,906 | — | |||||||||||||||||
Total | $ | 2,247,880 | $ | — | $ | 2,188,191 | $ | 59,689 | |||||||||||||
Derivative liabilities | $ | 57,751 | $ | — | $ | 57,751 | $ | — | |||||||||||||
Summary of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||
The changes in Level 3 assets measured at fair value on a recurring basis during the year ended December 31, 2013 are summarized as follows: | |||||||||||||||||||||
Equity securities | Mortgage | ||||||||||||||||||||
(Dollars in thousands) | Municipal | servicing rights | |||||||||||||||||||
Balance at January 1, 2013 | $ | 30,770 | $ | 22,169 | $ | 6,750 | |||||||||||||||
Total net (losses) gains included in: | |||||||||||||||||||||
Net income (1) | — | (3,328 | ) | 2,196 | |||||||||||||||||
Other comprehensive (loss) income | (296 | ) | 3,322 | — | |||||||||||||||||
Purchases | 22,209 | — | — | ||||||||||||||||||
Issuances | — | — | — | ||||||||||||||||||
Sales | — | — | — | ||||||||||||||||||
Settlements | (16,297 | ) | — | — | |||||||||||||||||
Net transfers into/out of Level 3 | — | — | — | ||||||||||||||||||
Balance at December 31, 2013 | $ | 36,386 | $ | 22,163 | $ | 8,946 | |||||||||||||||
-1 | Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income. | ||||||||||||||||||||
The changes in Level 3 assets measured at fair value on a recurring basis during the year ended December 31, 2012 are summarized as follows: | |||||||||||||||||||||
(Dollars in thousands) | Municipal | Equity securities | Mortgage servicing rights | ||||||||||||||||||
Balance at January 1, 2012 | $ | 24,211 | $ | 18,971 | $ | 6,700 | |||||||||||||||
Total net gains included in: | |||||||||||||||||||||
Net income (1) | — | — | 50 | ||||||||||||||||||
Other comprehensive income | 27 | 3,198 | — | ||||||||||||||||||
Purchases | 20,967 | — | — | ||||||||||||||||||
Issuances | — | — | — | ||||||||||||||||||
Sales | — | — | — | ||||||||||||||||||
Settlements | (12,033 | ) | — | — | |||||||||||||||||
Net transfers out of Level 3 (2) | (2,402 | ) | — | — | |||||||||||||||||
Balance at December 31, 2012 | $ | 30,770 | $ | 22,169 | $ | 6,750 | |||||||||||||||
-1 | Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income. | ||||||||||||||||||||
-2 | During the first quarter of 2012, one municipal security was transferred out of Level 3 into Level 2 as observable market information was available that market participants would use in pricing these securities. Transfers out of Level 3 are recognized at the end of the reporting period. | ||||||||||||||||||||
Summary of Assets Measured at Fair Value on a Nonrecurring Basis | ' | ||||||||||||||||||||
For assets measured at fair value on a nonrecurring basis that were still held in the balance sheet at the end of the period, the following table provides the carrying value of the related individual assets or portfolios at December 31, 2013. | |||||||||||||||||||||
December 31, 2013 | Twelve Months | ||||||||||||||||||||
Ended | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Fair Value | |||||||||||||||||||||
Losses | |||||||||||||||||||||
(Dollars in thousands) | Total | Level 1 | Level 2 | Level 3 | Recognized | ||||||||||||||||
Impaired loans-collateral based | $ | 55,127 | $ | — | $ | — | $ | 55,127 | $ | 38,430 | |||||||||||
Other real estate owned, including covered other real estate owned (1) | 136,288 | — | — | 136,288 | 10,924 | ||||||||||||||||
Mortgage loans held-for-sale, at lower of cost or market | 1,842 | — | 1,842 | — | — | ||||||||||||||||
Total | $ | 193,257 | $ | — | $ | 1,842 | $ | 191,415 | $ | 49,354 | |||||||||||
Schedule of Valuation Techniques and Significant Unobservable Inputs Used to Measure Both Recurring and Nonrecurring | ' | ||||||||||||||||||||
The valuation techniques and significant unobservable inputs used to measure both recurring and non-recurring Level 3 fair value measurements at December 31, 2013 were as follows: | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Fair Value | Valuation Methodology | Significant Unobservable Input | Range | Weighted | Impact to valuation | ||||||||||||||||
of Inputs | Average | from an increased or | |||||||||||||||||||
of Inputs | higher input value | ||||||||||||||||||||
Measured at fair value on a recurring basis: | |||||||||||||||||||||
Municipal Securities | $ | 36,386 | Bond pricing | Equivalent rating | BBB-AA+ | N/A | Increase | ||||||||||||||
Other Equity Securities | 22,163 | Discounted cash flows | Discount rate | 1.94%-3.06% | 2.54% | Decrease | |||||||||||||||
Mortgage Servicing Rights | 8,946 | Discounted cash flows | Discount rate | 10%-13.5% | 10.16% | Decrease | |||||||||||||||
Constant prepayment rate (CPR) | 10%-15% | 11.94% | Decrease | ||||||||||||||||||
Measured at fair value on a non-recurring basis: | |||||||||||||||||||||
Impaired loans—collateral based | 55,127 | Appraisal value | N/A | N/A | N/A | N/A | |||||||||||||||
Other real estate owned | 136,288 | Appraisal value | Property specific impairment adjustment | 0%-100% | 2.94% | Decrease | |||||||||||||||
Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The Company is required under applicable accounting guidance to report the fair value of all financial instruments on the consolidated statements of condition, including those financial instruments carried at cost. The carrying amounts and estimated fair values of the Company’s financial instruments as of the dates shown: | |||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||
(Dollars in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 263,864 | $ | 263,864 | $ | 315,028 | $ | 315,028 | |||||||||||||
Interest bearing deposits with banks | 495,574 | 495,574 | 1,035,743 | 1,035,743 | |||||||||||||||||
Available-for-sale securities | 2,176,290 | 2,176,290 | 1,796,076 | 1,796,076 | |||||||||||||||||
Trading account securities | 497 | 497 | 583 | 583 | |||||||||||||||||
Brokerage customer receivables | 30,953 | 30,953 | 24,864 | 24,864 | |||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock, at cost | 79,261 | 79,261 | 79,564 | 79,564 | |||||||||||||||||
Mortgage loans held-for-sale, at fair value | 332,485 | 332,485 | 385,033 | 385,033 | |||||||||||||||||
Mortgage loans held-for-sale, at lower of cost or market | 1,842 | 1,857 | 27,167 | 27,568 | |||||||||||||||||
Total loans | 13,243,033 | 13,867,255 | 12,389,030 | 13,053,101 | |||||||||||||||||
Mortgage servicing rights | 8,946 | 8,946 | 6,750 | 6,750 | |||||||||||||||||
Nonqualified deferred compensation assets | 7,222 | 7,222 | 5,532 | 5,532 | |||||||||||||||||
Derivative assets | 48,221 | 48,221 | 53,906 | 53,906 | |||||||||||||||||
FDIC indemnification asset | 85,672 | 85,672 | 208,160 | 208,160 | |||||||||||||||||
Accrued interest receivable and other | 163,732 | 163,732 | 157,157 | 157,157 | |||||||||||||||||
Total financial assets | $ | 16,937,592 | $ | 17,561,829 | $ | 16,484,593 | $ | 17,149,065 | |||||||||||||
Financial Liabilities | |||||||||||||||||||||
Non-maturity deposits | $ | 10,442,077 | $ | 10,442,077 | $ | 9,447,633 | $ | 9,447,633 | |||||||||||||
Deposits with stated maturities | 4,226,712 | 4,242,172 | 4,980,911 | 5,013,757 | |||||||||||||||||
Notes payable | 364 | 364 | 2,093 | 2,093 | |||||||||||||||||
Federal Home Loan Bank advances | 417,762 | 422,750 | 414,122 | 425,431 | |||||||||||||||||
Subordinated notes | — | — | 15,000 | 15,000 | |||||||||||||||||
Other borrowings | 254,740 | 254,740 | 274,411 | 274,411 | |||||||||||||||||
Junior subordinated debentures | 249,493 | 250,672 | 249,493 | 250,428 | |||||||||||||||||
Derivative liabilities | 37,264 | 37,264 | 57,751 | 57,751 | |||||||||||||||||
Accrued interest payable and other | 8,556 | 8,556 | 11,589 | 11,589 | |||||||||||||||||
Total financial liabilities | $ | 15,636,968 | $ | 15,658,595 | $ | 15,453,003 | $ | 15,498,093 | |||||||||||||
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Summary of the Company's Common and Preferred Stock | ' | ||||||||||||||||
A summary of the Company’s common and preferred stock at December 31, 2013 and 2012 is as follows: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Common Stock: | |||||||||||||||||
Shares authorized | 100,000,000 | 100,000,000 | |||||||||||||||
Shares issued | 46,181,588 | 37,107,684 | |||||||||||||||
Shares outstanding | 46,116,583 | 36,858,355 | |||||||||||||||
Cash dividend per share | $ | 0.18 | $ | 0.18 | |||||||||||||
Preferred Stock: | |||||||||||||||||
Shares authorized | 20,000,000 | 20,000,000 | |||||||||||||||
Shares issued | 126,477 | 176,500 | |||||||||||||||
Shares outstanding | 126,477 | 176,500 | |||||||||||||||
Aggregate Fair Values Assigned to Each Component of Tangible Equity Units Offering | ' | ||||||||||||||||
The aggregate fair values assigned to each component of the TEU offering were as follows: | |||||||||||||||||
(Dollars and units in thousands, except unit price) | Equity | Debt | TEU | ||||||||||||||
Component | Component | Total | |||||||||||||||
Units issued (1) | 4,600 | 4,600 | 4,600 | ||||||||||||||
Unit price | $ | 40.271818 | $ | 9.728182 | $ | 50 | |||||||||||
Gross proceeds | 185,250 | 44,750 | 230,000 | ||||||||||||||
Issuance costs, including discount | 5,934 | 1,419 | 7,353 | ||||||||||||||
Net proceeds | $ | 179,316 | $ | 43,331 | $ | 222,647 | |||||||||||
Balance sheet impact | |||||||||||||||||
Other borrowings | — | 43,331 | 43,331 | ||||||||||||||
Surplus | 179,316 | — | 179,316 | ||||||||||||||
-1 | TEUs consisted of two components: one unit of the equity component and one unit of the debt component. | ||||||||||||||||
Components of Other Comprehensive Income (Loss), Including the Related Income Tax Effects | ' | ||||||||||||||||
The following tables summarize the components of other comprehensive income (loss), including the related income tax effects, for the years ending December 31, 2013, 2012 and 2011: | |||||||||||||||||
(In thousands) | Accumulated | Accumulated | Accumulated | Total | |||||||||||||
Unrealized | Unrealized | Foreign | Accumulated | ||||||||||||||
Gains | (Losses) Gains on | Currency | Other | ||||||||||||||
(Losses) on | Derivative | Translation | Comprehensive | ||||||||||||||
Securities | Instruments | Adjustments | Income (Loss) | ||||||||||||||
Balance at January 1, 2013 | $ | 6,710 | $ | (5,292 | ) | $ | 6,293 | $ | 7,711 | ||||||||
Other comprehensive loss during the period, net of tax, before reclassification | (62,182 | ) | (251 | ) | (13,202 | ) | (75,635 | ) | |||||||||
Amount reclassified from accumulated other comprehensive income, net of tax | $ | 1,807 | $ | 3,081 | $ | — | $ | 4,888 | |||||||||
Net other comprehensive (loss) income during the period, net of tax | $ | (60,375 | ) | $ | 2,830 | $ | (13,202 | ) | $ | (70,747 | ) | ||||||
Balance at December 31, 2013 | $ | (53,665 | ) | $ | (2,462 | ) | $ | (6,909 | ) | $ | (63,036 | ) | |||||
Balance at January 1, 2012 | $ | 4,204 | $ | (7,082 | ) | $ | — | $ | (2,878 | ) | |||||||
Other comprehensive income (loss) during the period, net of tax, before reclassification | 5,461 | (1,713 | ) | 6,293 | 10,041 | ||||||||||||
Amount reclassified from accumulated other comprehensive (loss) income, net of tax | (2,955 | ) | 3,503 | — | 548 | ||||||||||||
Net other comprehensive income during the period, net of tax | $ | 2,506 | $ | 1,790 | $ | 6,293 | $ | 10,589 | |||||||||
Balance at December 31, 2012 | $ | 6,710 | $ | (5,292 | ) | $ | 6,293 | $ | 7,711 | ||||||||
Balance at January 1, 2011 | $ | 2,679 | $ | (8,191 | ) | $ | — | $ | (5,512 | ) | |||||||
Other comprehensive income (loss) during the period, net of tax, before reclassifications | 2,605 | (3,818 | ) | — | (1,213 | ) | |||||||||||
Amount reclassified from accumulated other comprehensive (loss) income, net of tax | (1,080 | ) | 4,927 | — | 3,847 | ||||||||||||
Net other comprehensive income during the period, net of tax | $ | 1,525 | $ | 1,109 | $ | — | $ | 2,634 | |||||||||
Balance at December 31, 2011 | $ | 4,204 | $ | (7,082 | ) | $ | — | $ | (2,878 | ) | |||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||||||||||
Amount Reclassified from Accumulated Other Comprehensive Income for the Year Ended, | |||||||||||||||||
Details Regarding the Component of Accumulated Other Comprehensive Income | December 31, | Impacted Line on the Consolidated Statements of Income | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Accumulated unrealized gains (losses) on securities | |||||||||||||||||
(Losses) gains included in net income | $ | (3,000 | ) | $ | 4,895 | (Losses) gains on available-for-sale securities, net | |||||||||||
(3,000 | ) | 4,895 | Income before taxes | ||||||||||||||
Tax effect | $ | 1,193 | $ | (1,940 | ) | Income tax expense | |||||||||||
Net of tax | $ | (1,807 | ) | $ | 2,955 | Net income | |||||||||||
Accumulated unrealized (losses) gains on derivative instruments | |||||||||||||||||
Amount reclassified to interest expense on junior subordinated debentures | $ | 5,116 | $ | 5,850 | Interest on junior subordinated debentures | ||||||||||||
(5,116 | ) | (5,850 | ) | Income before taxes | |||||||||||||
Tax effect | $ | 2,035 | $ | 2,347 | Income tax expense | ||||||||||||
Net of tax | $ | (3,081 | ) | $ | (3,503 | ) | Net income |
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Summary of Certain Operating Information for Reportable Segments | ' | |||||||||||||||||||
The following is a summary of certain operating information for reportable segments: | ||||||||||||||||||||
(Dollars in thousands) | Community | Specialty | Wealth | Total Operating Segments | Intersegment Eliminations | Consolidated | ||||||||||||||
Banking | Finance | Management | ||||||||||||||||||
2013 | ||||||||||||||||||||
Net interest income | $ | 448,173 | 73,903 | 14,118 | 536,194 | 14,433 | 550,627 | |||||||||||||
Provision for credit losses | 45,396 | 637 | — | 46,033 | — | 46,033 | ||||||||||||||
Non-interest income | 150,543 | 30,890 | 65,597 | 247,030 | (24,633 | ) | 222,397 | |||||||||||||
Non-interest expense | 409,780 | 40,529 | 62,442 | 512,751 | (10,200 | ) | 502,551 | |||||||||||||
Income tax expense | 55,161 | 25,508 | 6,561 | 87,230 | — | 87,230 | ||||||||||||||
Net income | $ | 88,379 | 38,119 | 10,712 | 137,210 | — | 137,210 | |||||||||||||
Total assets at end of year | $ | 15,132,912 | 2,470,832 | 494,039 | 18,097,783 | — | 18,097,783 | |||||||||||||
2012 | — | — | — | |||||||||||||||||
Net interest income | $ | 430,405 | 64,048 | 12,324 | 506,777 | 12,739 | 519,516 | |||||||||||||
Provision for credit losses | 74,975 | 1,461 | — | 76,436 | — | 76,436 | ||||||||||||||
Non-interest income | 166,296 | 26,845 | 54,519 | 247,660 | (21,568 | ) | 226,092 | |||||||||||||
Non-interest expense | 403,228 | 38,394 | 56,247 | 497,869 | (8,829 | ) | 489,040 | |||||||||||||
Income tax expense | 45,170 | 19,660 | 4,106 | 68,936 | — | 68,936 | ||||||||||||||
Net income | $ | 73,328 | 31,378 | 6,490 | 111,196 | — | 111,196 | |||||||||||||
Total assets at end of year | $ | 14,787,221 | 2,295,284 | 437,108 | 17,519,613 | — | 17,519,613 | |||||||||||||
2011 | — | — | ||||||||||||||||||
Net interest income | $ | 370,733 | 72,893 | 11,228 | 454,854 | 6,523 | 461,377 | |||||||||||||
Provision for credit losses | 102,902 | (264 | ) | — | 102,638 | — | 102,638 | |||||||||||||
Non-interest income | 139,248 | 15,133 | 47,755 | 202,136 | (12,438 | ) | 189,698 | |||||||||||||
Non-interest expense | 342,283 | 32,829 | 51,207 | 426,319 | (5,915 | ) | 420,404 | |||||||||||||
Income tax expense | 24,681 | 22,511 | 3,266 | 50,458 | — | 50,458 | ||||||||||||||
Net income | $ | 40,115 | 32,950 | 4,510 | 77,575 | — | 77,575 | |||||||||||||
Total assets at end of year | $ | 13,286,432 | 2,185,214 | 422,162 | 15,893,808 | — | 15,893,808 | |||||||||||||
Condensed_Parent_Company_Finan1
Condensed Parent Company Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Balance Sheets | ' | ||||||||||||
Condensed parent company only financial statements of Wintrust follow: | |||||||||||||
Statement of Financial Condition | |||||||||||||
December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash | $ | 80,869 | $ | 55,011 | |||||||||
Available-for-sale securities, at fair value | 12,839 | 9,647 | |||||||||||
Investment in and receivable from subsidiaries | 1,971,018 | 1,935,556 | |||||||||||
Loans, net of unearned income | 3,768 | 1,760 | |||||||||||
Less: Allowance for loan losses | 81 | — | |||||||||||
Net Loans | 3,687 | 1,760 | |||||||||||
Goodwill | 8,371 | 8,347 | |||||||||||
Other assets | 113,930 | 111,786 | |||||||||||
Total assets | $ | 2,190,714 | $ | 2,122,107 | |||||||||
Liabilities and Shareholders’ Equity | |||||||||||||
Other liabilities | $ | 21,292 | $ | 15,899 | |||||||||
Notes payable | — | 1,000 | |||||||||||
Subordinated notes | — | 15,000 | |||||||||||
Other borrowings | 19,340 | 36,010 | |||||||||||
Junior subordinated debentures | 249,493 | 249,493 | |||||||||||
Shareholders’ equity | 1,900,589 | 1,804,705 | |||||||||||
Total liabilities and shareholders’ equity | $ | 2,190,714 | $ | 2,122,107 | |||||||||
Statements of Income | ' | ||||||||||||
Statements of Income | |||||||||||||
Years Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Dividends and interest from subsidiaries | $ | 114,241 | $ | 47,295 | $ | 30,783 | |||||||
Gains on available-for-sale securities, net | 111 | 64 | 164 | ||||||||||
Other income | 4,529 | 605 | (487 | ) | |||||||||
Total income | 118,881 | 47,964 | 30,460 | ||||||||||
Expenses | |||||||||||||
Interest expense | 13,424 | 16,840 | 21,342 | ||||||||||
Salaries and employee benefits | 17,831 | 20,042 | 12,435 | ||||||||||
Other expenses | 24,739 | 27,428 | 14,037 | ||||||||||
Total expenses | 55,994 | 64,310 | 47,814 | ||||||||||
Income (loss) before income taxes and equity in undistributed loss of subsidiaries | 62,887 | (16,346 | ) | (17,354 | ) | ||||||||
Income tax benefit | 18,599 | 23,127 | 16,573 | ||||||||||
Income (loss) before equity in undistributed net income of subsidiaries | 81,486 | 6,781 | (781 | ) | |||||||||
Equity in undistributed net income of subsidiaries | 55,724 | 104,415 | 78,356 | ||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||
Statements of Cash Flows | ' | ||||||||||||
Condensed Parent Company Financial Statements | |||||||||||||
Condensed parent company only financial statements of Wintrust follow: | |||||||||||||
Statement of Financial Condition | |||||||||||||
December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash | $ | 80,869 | $ | 55,011 | |||||||||
Available-for-sale securities, at fair value | 12,839 | 9,647 | |||||||||||
Investment in and receivable from subsidiaries | 1,971,018 | 1,935,556 | |||||||||||
Loans, net of unearned income | 3,768 | 1,760 | |||||||||||
Less: Allowance for loan losses | 81 | — | |||||||||||
Net Loans | 3,687 | 1,760 | |||||||||||
Goodwill | 8,371 | 8,347 | |||||||||||
Other assets | 113,930 | 111,786 | |||||||||||
Total assets | $ | 2,190,714 | $ | 2,122,107 | |||||||||
Liabilities and Shareholders’ Equity | |||||||||||||
Other liabilities | $ | 21,292 | $ | 15,899 | |||||||||
Notes payable | — | 1,000 | |||||||||||
Subordinated notes | — | 15,000 | |||||||||||
Other borrowings | 19,340 | 36,010 | |||||||||||
Junior subordinated debentures | 249,493 | 249,493 | |||||||||||
Shareholders’ equity | 1,900,589 | 1,804,705 | |||||||||||
Total liabilities and shareholders’ equity | $ | 2,190,714 | $ | 2,122,107 | |||||||||
Statements of Income | |||||||||||||
Years Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Dividends and interest from subsidiaries | $ | 114,241 | $ | 47,295 | $ | 30,783 | |||||||
Gains on available-for-sale securities, net | 111 | 64 | 164 | ||||||||||
Other income | 4,529 | 605 | (487 | ) | |||||||||
Total income | 118,881 | 47,964 | 30,460 | ||||||||||
Expenses | |||||||||||||
Interest expense | 13,424 | 16,840 | 21,342 | ||||||||||
Salaries and employee benefits | 17,831 | 20,042 | 12,435 | ||||||||||
Other expenses | 24,739 | 27,428 | 14,037 | ||||||||||
Total expenses | 55,994 | 64,310 | 47,814 | ||||||||||
Income (loss) before income taxes and equity in undistributed loss of subsidiaries | 62,887 | (16,346 | ) | (17,354 | ) | ||||||||
Income tax benefit | 18,599 | 23,127 | 16,573 | ||||||||||
Income (loss) before equity in undistributed net income of subsidiaries | 81,486 | 6,781 | (781 | ) | |||||||||
Equity in undistributed net income of subsidiaries | 55,724 | 104,415 | 78,356 | ||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||
Statements of Cash Flows | |||||||||||||
Years Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Operating Activities: | |||||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||
Adjustments to reconcile net income to net cash provided by (used for) operating activities | |||||||||||||
Provision for credit losses | 1,765 | 8,050 | 608 | ||||||||||
Gains on available-for-sale securities, net | (111 | ) | (64 | ) | (164 | ) | |||||||
Depreciation and amortization | 3,744 | 3,072 | 2,178 | ||||||||||
Deferred income tax expense (benefit) | 1,217 | 2,224 | (1,785 | ) | |||||||||
Stock-based compensation expense | 6,799 | 9,072 | 2,008 | ||||||||||
Tax (expense) benefit from stock-based compensation arrangements | (831 | ) | 1,392 | 129 | |||||||||
Excess tax benefits from stock-based compensation arrangements | (112 | ) | (483 | ) | (19 | ) | |||||||
Increase in other assets | (3,051 | ) | (53,892 | ) | (28,389 | ) | |||||||
(Decrease) increase in other liabilities | (4,517 | ) | (1,619 | ) | 122 | ||||||||
Equity in undistributed net income of subsidiaries | (55,724 | ) | (104,415 | ) | (78,356 | ) | |||||||
Net Cash Provided by (Used for) Operating Activities | 86,389 | (25,467 | ) | (26,093 | ) | ||||||||
Investing Activities: | |||||||||||||
Capital contributions to subsidiaries, net | (8,293 | ) | (53,807 | ) | (22,361 | ) | |||||||
Other investing activity, net | (21,206 | ) | (12,284 | ) | 440 | ||||||||
Net Cash Used for Investing Activities | (29,499 | ) | (66,091 | ) | (21,921 | ) | |||||||
Financing Activities: | |||||||||||||
(Decrease) increase in notes payable and other borrowings, net | (17,860 | ) | (44,887 | ) | 36,337 | ||||||||
Repayment of subordinated note | (15,000 | ) | (20,000 | ) | (15,000 | ) | |||||||
Excess tax benefits from stock-based compensation arrangements | 112 | 483 | 19 | ||||||||||
Net proceeds from issuance of Series C preferred stock | — | 122,690 | — | ||||||||||
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants | 19,113 | 14,891 | 3,586 | ||||||||||
Dividends paid | (13,893 | ) | (13,157 | ) | (10,344 | ) | |||||||
Common stock repurchases | (3,504 | ) | (7,726 | ) | (112 | ) | |||||||
Net Cash (Used For) Provided by Financing Activities | (31,032 | ) | 52,294 | 14,486 | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 25,858 | (39,264 | ) | (33,528 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Year | 55,011 | 94,275 | 127,803 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 80,869 | $ | 55,011 | $ | 94,275 | |||||||
Statements of Cash Flows | |||||||||||||
Years Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Operating Activities: | |||||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||
Adjustments to reconcile net income to net cash provided by (used for) operating activities | |||||||||||||
Provision for credit losses | 1,765 | 8,050 | 608 | ||||||||||
Gains on available-for-sale securities, net | (111 | ) | (64 | ) | (164 | ) | |||||||
Depreciation and amortization | 3,744 | 3,072 | 2,178 | ||||||||||
Deferred income tax expense (benefit) | 1,217 | 2,224 | (1,785 | ) | |||||||||
Stock-based compensation expense | 6,799 | 9,072 | 2,008 | ||||||||||
Tax (expense) benefit from stock-based compensation arrangements | (831 | ) | 1,392 | 129 | |||||||||
Excess tax benefits from stock-based compensation arrangements | (112 | ) | (483 | ) | (19 | ) | |||||||
Increase in other assets | (3,051 | ) | (53,892 | ) | (28,389 | ) | |||||||
(Decrease) increase in other liabilities | (4,517 | ) | (1,619 | ) | 122 | ||||||||
Equity in undistributed net income of subsidiaries | (55,724 | ) | (104,415 | ) | (78,356 | ) | |||||||
Net Cash Provided by (Used for) Operating Activities | 86,389 | (25,467 | ) | (26,093 | ) | ||||||||
Investing Activities: | |||||||||||||
Capital contributions to subsidiaries, net | (8,293 | ) | (53,807 | ) | (22,361 | ) | |||||||
Other investing activity, net | (21,206 | ) | (12,284 | ) | 440 | ||||||||
Net Cash Used for Investing Activities | (29,499 | ) | (66,091 | ) | (21,921 | ) | |||||||
Financing Activities: | |||||||||||||
(Decrease) increase in notes payable and other borrowings, net | (17,860 | ) | (44,887 | ) | 36,337 | ||||||||
Repayment of subordinated note | (15,000 | ) | (20,000 | ) | (15,000 | ) | |||||||
Excess tax benefits from stock-based compensation arrangements | 112 | 483 | 19 | ||||||||||
Net proceeds from issuance of Series C preferred stock | — | 122,690 | — | ||||||||||
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants | 19,113 | 14,891 | 3,586 | ||||||||||
Dividends paid | (13,893 | ) | (13,157 | ) | (10,344 | ) | |||||||
Common stock repurchases | (3,504 | ) | (7,726 | ) | (112 | ) | |||||||
Net Cash (Used For) Provided by Financing Activities | (31,032 | ) | 52,294 | 14,486 | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 25,858 | (39,264 | ) | (33,528 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Year | 55,011 | 94,275 | 127,803 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 80,869 | $ | 55,011 | $ | 94,275 | |||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||
Computation of Basic and Diluted Earnings Per Common Share | ' | ||||||||||||||
The following table sets forth the computation of basic and diluted earnings per common share for 2013 , 2012 and 2011: | |||||||||||||||
(In thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||||
Net income | $ | 137,210 | $ | 111,196 | $ | 77,575 | |||||||||
Less: Preferred stock dividends and discount accretion | 8,395 | 9,093 | 4,128 | ||||||||||||
Net income applicable to common shares—Basic | (A) | 128,815 | 102,103 | 73,447 | |||||||||||
Add: Dividends on convertible preferred stock | 8,325 | 8,955 | — | ||||||||||||
Net income applicable to common shares—Diluted | (B) | 137,140 | 111,058 | 73,447 | |||||||||||
Weighted average common shares outstanding | (C) | 38,699 | 36,365 | 35,355 | |||||||||||
Effect of dilutive potential common shares: | |||||||||||||||
Common stock equivalents | 7,108 | 7,313 | 8,636 | ||||||||||||
Convertible preferred stock, if dilutive | 4,141 | 4,356 | — | ||||||||||||
Total dilutive potential common shares | 11,249 | 11,669 | 8,636 | ||||||||||||
Weighted average common shares and effect of dilutive potential common shares | (D) | 49,948 | 48,034 | 43,991 | |||||||||||
Net income per common share: | |||||||||||||||
Basic | (A/C) | $ | 3.33 | $ | 2.81 | $ | 2.08 | ||||||||
Diluted | (B/D) | $ | 2.75 | $ | 2.31 | $ | 1.67 | ||||||||
Quarterly_Financial_Summary_Un1
Quarterly Financial Summary (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Summary of Quarterly Financial Information | ' | ||||||||||||||||||||||||||
The following is a summary of quarterly financial information for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||
2013 Quarters | 2012 Quarters | ||||||||||||||||||||||||||
(In thousands, except per share data) | First | Second | Third | Fourth | First | Second | Third | Fourth | |||||||||||||||||||
Interest income | $ | 152,313 | 156,646 | 161,168 | 160,582 | $ | 156,486 | 155,691 | 158,201 | 156,643 | |||||||||||||||||
Interest expense | 21,600 | 20,822 | 19,386 | 18,274 | 30,591 | 27,421 | 25,626 | 23,867 | |||||||||||||||||||
Net interest income | 130,713 | 135,824 | 141,782 | 142,308 | 125,895 | 128,270 | 132,575 | 132,776 | |||||||||||||||||||
Provision for credit losses | 15,687 | 15,382 | 11,114 | 3,850 | 17,400 | 20,691 | 18,799 | 19,546 | |||||||||||||||||||
Net interest income after provision for credit losses | 115,026 | 120,442 | 130,668 | 138,458 | 108,495 | 107,579 | 113,776 | 113,230 | |||||||||||||||||||
Non-interest income, excluding net securities gains (losses) | 57,128 | 63,993 | 54,587 | 49,689 | 46,207 | 49,826 | 62,536 | 62,628 | |||||||||||||||||||
Net securities gains (losses) | 251 | 2 | 75 | (3,328 | ) | 816 | 1,109 | 409 | 2,561 | ||||||||||||||||||
Non-interest expense | 120,119 | 128,187 | 127,248 | 126,997 | 117,759 | 117,185 | 124,548 | 129,548 | |||||||||||||||||||
Income before income taxes | 52,286 | 56,250 | 58,082 | 57,822 | 37,759 | 41,329 | 52,173 | 48,871 | |||||||||||||||||||
Income tax expense | 20,234 | 21,943 | 22,519 | 22,534 | 14,549 | 15,734 | 19,871 | 18,782 | |||||||||||||||||||
Net income | $ | 32,052 | 34,307 | 35,563 | 35,288 | $ | 23,210 | 25,595 | 32,302 | 30,089 | |||||||||||||||||
Preferred stock dividends and discount accretion | 2,616 | 2,617 | 1,581 | 1,581 | 1,246 | 2,644 | 2,616 | 2,616 | |||||||||||||||||||
Net income applicable to common shares | $ | 29,436 | 31,690 | 33,982 | 33,707 | $ | 21,964 | 22,951 | 29,686 | 27,473 | |||||||||||||||||
Net income per common share: | |||||||||||||||||||||||||||
Basic | 0.8 | 0.85 | 0.86 | 0.82 | 0.61 | 0.63 | 0.82 | 0.75 | |||||||||||||||||||
Diluted | 0.65 | 0.69 | 0.71 | 0.7 | 0.5 | 0.52 | 0.66 | 0.61 | |||||||||||||||||||
Cash dividends declared per common share | 0.09 | — | 0.09 | — | 0.09 | — | 0.09 | — | |||||||||||||||||||
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Land Improvements [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||
Furniture, Fixtures and Equipment [Member] | Software and Computer-Related Equipment [Member] | Buildings and Improvements [Member] | Furniture, Fixtures and Equipment [Member] | Software and Computer-Related Equipment [Member] | Buildings and Improvements [Member] | ||||||
Premises and equipment, useful lives | ' | ' | '15 years | ' | '2 years | '2 years | '7 years | ' | '10 years | '5 years | '39 years |
Finite-lived intangibles, useful life | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' |
Bank-owned life insurance | $118.50 | $104.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit realized on settlement, percentage | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' |
AvailableForSale_Securities_Su
Available-For-Sale Securities (Summary of the Available-for-Sale Securities Portfolio) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | $2,265,118 | $1,785,113 | ||
Gross unrealized gains | 11,758 | 20,556 | ||
Gross unrealized losses | -100,586 | -9,593 | ||
Total available-for-sale securities, fair value | 2,176,290 | 1,796,076 | ||
U.S. Treasury [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 354,262 | 220,226 | ||
Gross unrealized gains | 141 | 198 | ||
Gross unrealized losses | -18,308 | -937 | ||
Total available-for-sale securities, fair value | 336,095 | 219,487 | ||
U.S. Government Agencies [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 950,086 | 986,186 | ||
Gross unrealized gains | 1,680 | 4,839 | ||
Gross unrealized losses | -56,078 | -986 | ||
Total available-for-sale securities, fair value | 895,688 | 990,039 | ||
Municipal [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 154,463 | 107,868 | ||
Gross unrealized gains | 2,551 | 2,899 | ||
Gross unrealized losses | -4,298 | -296 | ||
Total available-for-sale securities, fair value | 152,716 | 110,471 | ||
Corporate Notes, Financial Issuers [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 129,362 | 142,205 | ||
Gross unrealized gains | 1,993 | 2,452 | ||
Gross unrealized losses | -2,411 | -3,982 | ||
Total available-for-sale securities, fair value | 128,944 | 140,675 | ||
Corporate Notes, Other [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 5,994 | 13,911 | ||
Gross unrealized gains | 105 | 220 | ||
Gross unrealized losses | -5 | 0 | ||
Total available-for-sale securities, fair value | 6,094 | 14,131 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 562,708 | [1] | 188,485 | [1] |
Gross unrealized gains | 3,537 | [1] | 8,805 | [1] |
Gross unrealized losses | -18,047 | [1] | -30 | [1] |
Total available-for-sale securities, fair value | 548,198 | [1] | 197,260 | [1] |
Mortgage-Backed, Collateralized Mortgage Obligations [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 57,711 | [1] | 73,386 | [1] |
Gross unrealized gains | 258 | [1] | 928 | [1] |
Gross unrealized losses | -942 | [1] | 0 | [1] |
Total available-for-sale securities, fair value | 57,027 | [1] | 74,314 | [1] |
Equity Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 50,532 | 52,846 | ||
Gross unrealized gains | 1,493 | 215 | ||
Gross unrealized losses | -497 | -3,362 | ||
Total available-for-sale securities, fair value | $51,528 | $49,699 | ||
[1] | Consisting entirely of residential mortgage-backed securities, none of which are subprime. |
AvailableForSale_Securities_Sc
Available-For-Sale Securities (Schedule of Available-for-Sale Securities Portfolio Continuous Unrealized Loss Position) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | $883,579 | $457,242 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -70,888 | -2,301 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 321,347 | 114,560 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | -29,698 | -7,292 |
Total, Fair value | 1,204,926 | 571,802 |
Total, Unrealized losses | -100,586 | -9,593 |
US Treasury Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 75,695 | 199,250 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -62 | -937 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 181,922 | 0 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | -18,246 | 0 |
Total, Fair value | 257,617 | 199,250 |
Total, Unrealized losses | -18,308 | -937 |
U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 399,982 | 200,408 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -47,860 | -986 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 53,431 | 0 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | -8,218 | 0 |
Total, Fair value | 453,413 | 200,408 |
Total, Unrealized losses | -56,078 | -986 |
Municipal [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 66,368 | 26,782 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -3,757 | -295 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 10,529 | 512 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | -541 | -1 |
Total, Fair value | 76,897 | 27,294 |
Total, Unrealized losses | -4,298 | -296 |
Corporate Notes, Financial Issuers [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 21,296 | 4,644 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -49 | -13 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 66,834 | 91,970 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | -2,362 | -3,969 |
Total, Fair value | 88,130 | 96,614 |
Total, Unrealized losses | -2,411 | -3,982 |
Corporate Notes, Other [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 995 | 0 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -5 | 0 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 0 | 0 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | 0 | 0 |
Total, Fair value | 995 | 0 |
Total, Unrealized losses | -5 | 0 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 270,522 | 20,198 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -18,008 | -30 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 2,922 | 0 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | -39 | 0 |
Total, Fair value | 273,444 | 20,198 |
Total, Unrealized losses | -18,047 | -30 |
Mortgage-Backed, Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 40,449 | 0 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -942 | 0 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 0 | 0 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | 0 | 0 |
Total, Fair value | 40,449 | 0 |
Total, Unrealized losses | -942 | 0 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Continuous unrealized losses existing for less than 12 months, Fair value | 8,272 | 5,960 |
Continuous unrealized losses existing for less than 12 months, Unrealized losses | -205 | -40 |
Continuous unrealized losses existing for greater than 12 months, Fair value | 5,709 | 22,078 |
Continuous unrealized losses existing for greater than 12 months, Unrealized losses | -292 | -3,322 |
Total, Fair value | 13,981 | 28,038 |
Total, Unrealized losses | ($497) | ($3,362) |
AvailableForSale_Securities_Sc1
Available-For-Sale Securities (Schedule of Available-for-Sale Investment Securities Gross Gains and Gross Losses Realized) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Available-for-sale Securities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Realized gains | ' | ' | ' | ' | ' | ' | ' | ' | $434 | $4,918 | $1,874 |
Realized losses | ' | ' | ' | ' | ' | ' | ' | ' | -106 | -23 | -82 |
Net realized gains | ' | ' | ' | ' | ' | ' | ' | ' | 328 | 4,895 | 1,792 |
Other than temporary impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | -3,328 | 0 | 0 |
(Losses) gains on available-for-sale securities, net | -3,328 | 75 | 2 | 251 | 2,561 | 409 | 1,109 | 816 | -3,000 | 4,895 | 1,792 |
Proceeds from sales of available-for-sale securities, net | ' | ' | ' | ' | ' | ' | ' | ' | $138,274 | $2,399,035 | $1,265,046 |
AvailableForSale_Securities_Co
Available-For-Sale Securities (Contractual Maturities of Available-for-Sale Securities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Due in one year or less, Amortized Cost | $268,847 | $188,594 |
Due in one year or less, Fair Value | 269,168 | 189,015 |
Due in one to five years, Amortized Cost | 358,108 | 419,588 |
Due in one to five years, Fair Value | 358,357 | 419,654 |
Due in five to ten years, Amortized Cost | 350,372 | 361,037 |
Due in five to ten years, Fair Value | 330,020 | 362,135 |
Due after ten years, Amortized Cost | 616,840 | 501,177 |
Due after ten years, Fair Value | 561,992 | 503,999 |
Total available-for-sale securities, Amortized Cost | 2,265,118 | 1,785,113 |
Available-for-sale securities, at fair value | 2,176,290 | 1,796,076 |
Asset-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total available-for-sale securities, Amortized Cost | 620,419 | 261,871 |
Available-for-sale securities, at fair value | 605,225 | 271,574 |
Other Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total available-for-sale securities, Amortized Cost | 50,532 | 52,846 |
Available-for-sale securities, at fair value | $51,528 | $49,699 |
AvailableForSale_Securities_Na
Available-For-Sale Securities (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
securities | securities | ||||||||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of trust preferred securities in a continuous unrealized loss position, twelve months or longer | 3 | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Income tax expense | $22,534,000 | $22,519,000 | $21,943,000 | $20,234,000 | $18,782,000 | $19,871,000 | $15,734,000 | $14,549,000 | $87,230,000 | $68,936,000 | $50,458,000 |
Securities, carrying value | 1,200,000,000 | ' | ' | ' | 1,100,000,000 | ' | ' | ' | 1,200,000,000 | 1,100,000,000 | ' |
Number of securities by a single non-goverment sponsored issuer exceeding 10% of shareholders' equity | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Available-for-sale Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | $1,200,000 | $1,900,000 | $705,000 |
Loans_Summary_of_Loan_Portfoli
Loans (Summary of Loan Portfolio) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | $12,896,602 | $11,828,943 |
Covered loans | 346,431 | 560,087 |
Total loans | 13,243,033 | 12,389,030 |
Total loans, percentage | 97.00% | 96.00% |
Covered loans, percentage | 3.00% | 4.00% |
Percentage of Loans Net of Unearned Income Including Covered Loans | 100.00% | 100.00% |
Commercial | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | 3,253,687 | 2,914,798 |
Total loans, percentage | 25.00% | 24.00% |
Commercial real-estate | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | 4,230,035 | 3,864,118 |
Total loans, percentage | 32.00% | 31.00% |
Home equity | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | 719,137 | 788,474 |
Total loans, percentage | 5.00% | 6.00% |
Residential real estate | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | 434,992 | 367,213 |
Total loans, percentage | 3.00% | 3.00% |
Premium finance receivables | Commercial insurance loans | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | 2,167,565 | 1,987,856 |
Total loans, percentage | 16.00% | 16.00% |
Premium finance receivables | Premium Finance Receivables Life Insurance [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | 1,923,698 | 1,725,166 |
Total loans, percentage | 15.00% | 14.00% |
Indirect consumer | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | 50,680 | 77,333 |
Total loans, percentage | 0.00% | 1.00% |
Consumer and other | ' | ' |
Loans [Line Items] | ' | ' |
Loans, net of unearned income, excluding covered loans | $116,808 | $103,985 |
Total loans, percentage | 1.00% | 1.00% |
Loans_Unpaid_Principal_Balance
Loans (Unpaid Principal Balance and Carrying Value of Acquired Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Bank Acquisitions [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Unpaid Principal Balance | $453,944 | $674,868 |
Carrying Value | 338,517 | 503,837 |
Life Insurance Premium Finance Acquisition [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Unpaid Principal Balance | 437,155 | 536,503 |
Carrying Value | $423,906 | $514,459 |
Loans_Estimated_Details_on_Loa
Loans (Estimated Details on Loans Acquisition) (Details) (USD $) | 1-May-13 | Oct. 18, 2013 |
In Thousands, unless otherwise specified | First Lansing Bancorp, Inc. [Member] | Diamond |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' | ' |
Contractually required payments including interest | $32,022 | $47,853 |
Less: Nonaccretable difference | 8,890 | 12,898 |
Cash flows expected to be collected | 23,132 | 34,955 |
Less: Accretable yield | -2,055 | -3,451 |
Fair value of loans acquired with evidence of credit quality deterioration since origination | $21,077 | $31,504 |
Loans_Activity_Related_to_Accr
Loans (Activity Related to Accretable Yield of Loans Acquired with Evidence of Credit Quality Deterioration Since Origination) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Bank Acquisitions [Member] | ' | ' | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' | ||
Accretable yield, beginning balance | $143,224 | [1] | $173,120 | |
Acquisitions | 5,428 | 8,217 | ||
Accretable yield amortized to interest income | -36,898 | -52,101 | ||
Accretable yield amortized to indemnification asset | -36,202 | [2] | -66,798 | [2] |
Reclassification from non-accretable difference | 50,873 | [3] | 64,603 | [3] |
(Decreases) increases in interest cash flows due to payments and changes in interest rates | -18,770 | 16,183 | ||
Accretable yield, ending balance | 107,655 | [1] | 143,224 | [1] |
Life Insurance Premium Finance Acquisition [Member] | ' | ' | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' | ||
Accretable yield, beginning balance | 13,055 | [1] | 18,861 | |
Acquisitions | 0 | 0 | ||
Accretable yield amortized to interest income | -8,795 | -11,441 | ||
Accretable yield amortized to indemnification asset | 0 | [2] | 0 | [2] |
Reclassification from non-accretable difference | 2,840 | [3] | 4,096 | [3] |
(Decreases) increases in interest cash flows due to payments and changes in interest rates | 1,154 | 1,539 | ||
Accretable yield, ending balance | $8,254 | [1] | $13,055 | [1] |
[1] | As of December 31, 2013, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $33.7 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income.Accretion to interest income from loans acquired in bank acquisitions totaled $36.9 million and $52.1 million in 2013 and 2012, respectively. These amounts include accretion from both covered and non-covered loans, and are included together within interest and fees on loans in the Consolidated Statements of Income. | |||
[2] | Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnfication asset. | |||
[3] | Reclassification is the result of subsequent increases in expected principal cash flows. |
Loans_Narrative_Details
Loans (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Loans [Line Items] | ' | ' |
Deferred Discounts, Finance Charges and Interest Included in Receivables | $41,900,000 | $41,100,000 |
Loans and Leases Receivable, Deferred Income | -9,200,000 | 13,200,000 |
Loans pledged as collateral | 2,900,000,000 | 2,500,000,000 |
Federal Home Loan Bank advances | 417,762,000 | 414,122,000 |
Remaining accretable yield balance to be amortized | 33,700,000 | ' |
Federal Home Loan Bank Advances [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Loans pledged as collateral | 2,400,000,000 | ' |
Federal Reserve Bank Advances [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Loans pledged as collateral | 461,200,000 | ' |
Bank Acquisitions [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Certain Loans Acquired Accretable Yield Amortized To Interest Income | $36,898,000 | $52,101,000 |
Allowance_for_Loan_Losses_Allo2
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Schedule of Aging of the Company's Loan Portfolio) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | $103,582 | $109,742 | ||
90+ days and still accruing | 86,484 | 133,990 | ||
60-89 days past due | 39,698 | 58,964 | ||
30-59 days past due | 84,566 | 105,459 | ||
Current | 12,928,703 | 11,980,875 | ||
Total loans | 13,243,033 | 12,389,030 | ||
Loans, net of unearned income excluding covered loans, Nonaccrual | 94,157 | 107,754 | ||
Loans, net of unearned income excluding covered loans, 90+ days past due and still accruing | 30,202 | 11,640 | ||
Loans, net of unearned income excluding covered loans, 60-89 days past due and still accruing | 33,821 | 42,856 | ||
Loans, net of unearned income excluding covered loans, 30-59 days past due and still accruing | 76,629 | 97,460 | ||
Loans, net of unearned income excluding covered loans, current | 12,661,793 | 11,569,233 | ||
Loans, net of unearned income, excluding covered loans | 12,896,602 | 11,828,943 | ||
Covered loans, Nonaccrual | 9,425 | 1,988 | ||
Covered loans, 90+ days past due and still accruing | 56,282 | 122,350 | ||
Covered loans, 60-89 days past due and still accruing | 5,877 | 16,108 | ||
Covered loans, 30-59 days past due and still accruing | 7,937 | 7,999 | ||
Covered loans, Current | 266,910 | 411,642 | ||
Covered loans | 346,431 | 560,087 | ||
Commercial | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 10,780 | 21,737 | ||
90+ days and still accruing | 274 | 496 | ||
60-89 days past due | 5,882 | 7,226 | ||
30-59 days past due | 11,755 | 22,935 | ||
Current | 3,224,996 | 2,862,404 | ||
Loans, net of unearned income, excluding covered loans | 3,253,687 | 2,914,798 | ||
Commercial | Commercial and industrial | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 10,143 | 19,409 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 4,938 | 5,520 | ||
30-59 days past due | 7,404 | 15,410 | ||
Current | 1,813,721 | 1,587,864 | ||
Loans, net of unearned income, excluding covered loans | 1,836,206 | 1,628,203 | ||
Commercial | Franchise | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 1,792 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 400 | 0 | ||
30-59 days past due | 0 | 0 | ||
Current | 219,983 | 194,603 | ||
Loans, net of unearned income, excluding covered loans | 220,383 | 196,395 | ||
Commercial | Mortgage warehouse lines of credit | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 0 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 0 | ||
30-59 days past due | 0 | 0 | ||
Current | 67,470 | 215,076 | ||
Loans, net of unearned income, excluding covered loans | 67,470 | 215,076 | ||
Commercial | Community Advantage - homeowners association | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 0 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 0 | ||
30-59 days past due | 0 | 0 | ||
Current | 90,894 | 81,496 | ||
Loans, net of unearned income, excluding covered loans | 90,894 | 81,496 | ||
Commercial | Aircraft | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 0 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 148 | ||
30-59 days past due | 0 | 0 | ||
Current | 10,241 | 17,216 | ||
Loans, net of unearned income, excluding covered loans | 10,241 | 17,364 | ||
Commercial | Asset-based lending | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 637 | 536 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 388 | 1,126 | ||
30-59 days past due | 1,878 | 6,622 | ||
Current | 732,190 | 564,154 | ||
Loans, net of unearned income, excluding covered loans | 735,093 | 572,438 | ||
Commercial | Tax exempt | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 0 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 0 | ||
30-59 days past due | 0 | 0 | ||
Current | 161,239 | 91,824 | ||
Loans, net of unearned income, excluding covered loans | 161,239 | 91,824 | ||
Commercial | Leases | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 0 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 0 | ||
30-59 days past due | 788 | 896 | ||
Current | 109,043 | 89,547 | ||
Loans, net of unearned income, excluding covered loans | 109,831 | 90,443 | ||
Commercial | Other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 0 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 0 | ||
30-59 days past due | 0 | 0 | ||
Current | 11,147 | 16,549 | ||
Loans, net of unearned income, excluding covered loans | 11,147 | 16,549 | ||
Commercial | Purchased non-covered commercial | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | [1] | 0 | [1] |
90+ days and still accruing | 274 | [1] | 496 | [1] |
60-89 days past due | 156 | [1] | 432 | [1] |
30-59 days past due | 1,685 | [1] | 7 | [1] |
Current | 9,068 | [1] | 4,075 | [1] |
Loans, net of unearned income, excluding covered loans | 11,183 | [1],[2] | 5,010 | [1],[2] |
Commercial real-estate | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 46,658 | 49,973 | ||
90+ days and still accruing | 18,812 | 749 | ||
60-89 days past due | 15,394 | 24,096 | ||
30-59 days past due | 29,870 | 35,128 | ||
Current | 4,119,301 | 3,754,172 | ||
Loans, net of unearned income, excluding covered loans | 4,230,035 | 3,864,118 | ||
Commercial real-estate | Residential construction | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 149 | 3,110 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 4 | ||
30-59 days past due | 0 | 41 | ||
Current | 38,351 | 37,246 | ||
Loans, net of unearned income, excluding covered loans | 38,500 | 40,401 | ||
Commercial real-estate | Commercial construction | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 6,969 | 2,159 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 885 | ||
30-59 days past due | 505 | 386 | ||
Current | 129,232 | 167,525 | ||
Loans, net of unearned income, excluding covered loans | 136,706 | 170,955 | ||
Commercial real-estate | Land | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 2,814 | 11,299 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 4,224 | 632 | ||
30-59 days past due | 619 | 9,014 | ||
Current | 99,128 | 113,252 | ||
Loans, net of unearned income, excluding covered loans | 106,785 | 134,197 | ||
Commercial real-estate | Office | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 10,087 | 4,196 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 2,265 | 1,889 | ||
30-59 days past due | 3,862 | 3,280 | ||
Current | 626,027 | 560,346 | ||
Loans, net of unearned income, excluding covered loans | 642,241 | 569,711 | ||
Commercial real-estate | Industrial | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 5,654 | 2,089 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 585 | 6,042 | ||
30-59 days past due | 914 | 4,512 | ||
Current | 626,785 | 565,294 | ||
Loans, net of unearned income, excluding covered loans | 633,938 | 577,937 | ||
Commercial real-estate | Retail | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 10,862 | 7,792 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 837 | 1,372 | ||
30-59 days past due | 2,435 | 998 | ||
Current | 642,125 | 558,734 | ||
Loans, net of unearned income, excluding covered loans | 656,259 | 568,896 | ||
Commercial real-estate | Multi-family | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 2,035 | 2,586 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 0 | 3,949 | ||
30-59 days past due | 348 | 1,040 | ||
Current | 564,154 | 389,116 | ||
Loans, net of unearned income, excluding covered loans | 566,537 | 396,691 | ||
Commercial real-estate | Mixed use and other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 8,088 | 16,742 | ||
90+ days and still accruing | 230 | 0 | ||
60-89 days past due | 3,943 | 6,660 | ||
30-59 days past due | 15,949 | 13,349 | ||
Current | 1,344,244 | 1,312,503 | ||
Loans, net of unearned income, excluding covered loans | 1,372,454 | 1,349,254 | ||
Commercial real-estate | Purchased non-covered commercial real-estate | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | [1] | 0 | [1] |
90+ days and still accruing | 18,582 | [1] | 749 | [1] |
60-89 days past due | 3,540 | [1] | 2,663 | [1] |
30-59 days past due | 5,238 | [1] | 2,508 | [1] |
Current | 49,255 | [1] | 50,156 | [1] |
Loans, net of unearned income, excluding covered loans | 76,615 | [1],[2] | 56,076 | [1],[2] |
Home equity | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 10,071 | 13,423 | ||
90+ days and still accruing | 0 | 100 | ||
60-89 days past due | 1,344 | 1,592 | ||
30-59 days past due | 3,060 | 5,043 | ||
Current | 704,662 | 768,316 | ||
Loans, net of unearned income, excluding covered loans | 719,137 | 788,474 | ||
Residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 434,992 | 367,213 | ||
Residential real estate | Residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 14,974 | 11,728 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 1,689 | 2,763 | ||
30-59 days past due | 5,032 | 8,250 | ||
Current | 410,430 | 343,616 | ||
Loans, net of unearned income, excluding covered loans | 432,125 | 366,357 | ||
Residential real estate | Purchased non-covered residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | [1] | 0 | [1] |
90+ days and still accruing | 1,988 | [1] | 0 | [1] |
60-89 days past due | 0 | [1] | 200 | [1] |
30-59 days past due | 0 | [1] | 0 | [1] |
Current | 879 | [1] | 656 | [1] |
Loans, net of unearned income, excluding covered loans | 2,867 | [1],[2] | 856 | [1],[2] |
Premium finance receivables | Commercial insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 10,537 | 9,302 | ||
90+ days and still accruing | 8,842 | 10,008 | ||
60-89 days past due | 6,912 | 6,729 | ||
30-59 days past due | 24,094 | 19,597 | ||
Current | 2,117,180 | 1,942,220 | ||
Loans, net of unearned income, excluding covered loans | 2,167,565 | 1,987,856 | ||
Premium finance receivables | Life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | 25 | ||
90+ days and still accruing | 0 | 0 | ||
60-89 days past due | 2,524 | 0 | ||
30-59 days past due | 1,808 | 5,531 | ||
Current | 1,495,460 | 1,205,151 | ||
Loans, net of unearned income, excluding covered loans | 1,499,792 | 1,210,707 | ||
Premium finance receivables | Purchased life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | [1] | 0 | [1] |
90+ days and still accruing | 0 | [1] | 0 | [1] |
60-89 days past due | 0 | [1] | 0 | [1] |
30-59 days past due | 0 | [1] | 0 | [1] |
Current | 423,906 | [1] | 514,459 | [1] |
Loans, net of unearned income, excluding covered loans | 423,906 | [1],[2] | 514,459 | [1],[2] |
Indirect consumer | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 55 | 55 | ||
90+ days and still accruing | 105 | 189 | ||
60-89 days past due | 29 | 51 | ||
30-59 days past due | 353 | 442 | ||
Current | 50,138 | 76,596 | ||
Loans, net of unearned income, excluding covered loans | 50,680 | 77,333 | ||
Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 116,808 | 103,985 | ||
Consumer and other | Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 1,082 | 1,511 | ||
90+ days and still accruing | 0 | 32 | ||
60-89 days past due | 47 | 167 | ||
30-59 days past due | 657 | 433 | ||
Current | 113,818 | 99,010 | ||
Loans, net of unearned income, excluding covered loans | 115,604 | 101,153 | ||
Consumer and other | Purchased non-covered consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Nonaccrual | 0 | [1] | 0 | [1] |
90+ days and still accruing | 181 | [1] | 66 | [1] |
60-89 days past due | 0 | [1] | 32 | [1] |
30-59 days past due | 0 | [1] | 101 | [1] |
Current | 1,023 | [1] | 2,633 | [1] |
Loans, net of unearned income, excluding covered loans | $1,204 | [1],[2] | $2,832 | [1],[2] |
[1] | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASCB 310-30. Loan agings are based upon contractually required payments. See Note 4 - Loans for further discussion of these purchased loans. | |||
[2] | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASCB 310-30. See Note 4 - Loans for further discussion of these purchased loans. |
Allowance_for_Loan_Losses_Allo3
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Recorded Investment Based on Performance of Loans by Class) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | $12,896,602 | $11,828,943 | ||
Performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 12,793,268 | 11,710,860 | ||
Non-performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 103,334 | 118,083 | ||
Commercial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 3,253,687 | 2,914,798 | ||
Commercial | Commercial and industrial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,836,206 | 1,628,203 | ||
Commercial | Franchise | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 220,383 | 196,395 | ||
Commercial | Mortgage warehouse lines of credit | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 67,470 | 215,076 | ||
Commercial | Community Advantage - homeowners association | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 90,894 | 81,496 | ||
Commercial | Aircraft | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 10,241 | 17,364 | ||
Commercial | Asset-based lending | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 735,093 | 572,438 | ||
Commercial | Tax exempt | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 161,239 | 91,824 | ||
Commercial | Leases | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 109,831 | 90,443 | ||
Commercial | Other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 11,147 | 16,549 | ||
Commercial | Purchased non-covered commercial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 11,183 | [1],[2] | 5,010 | [1],[2] |
Commercial | Performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 3,242,907 | 2,893,061 | ||
Commercial | Performing | Commercial and industrial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,826,063 | 1,608,794 | ||
Commercial | Performing | Franchise | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 220,383 | 194,603 | ||
Commercial | Performing | Mortgage warehouse lines of credit | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 67,470 | 215,076 | ||
Commercial | Performing | Community Advantage - homeowners association | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 90,894 | 81,496 | ||
Commercial | Performing | Aircraft | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 10,241 | 17,364 | ||
Commercial | Performing | Asset-based lending | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 734,456 | 571,902 | ||
Commercial | Performing | Tax exempt | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 161,239 | 91,824 | ||
Commercial | Performing | Leases | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 109,831 | 90,443 | ||
Commercial | Performing | Other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 11,147 | 16,549 | ||
Commercial | Performing | Purchased non-covered commercial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 11,183 | [1] | 5,010 | [1] |
Commercial | Non-performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 10,780 | 21,737 | ||
Commercial | Non-performing | Commercial and industrial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 10,143 | 19,409 | ||
Commercial | Non-performing | Franchise | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | ' | 1,792 | ||
Commercial | Non-performing | Mortgage warehouse lines of credit | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | 0 | ||
Commercial | Non-performing | Community Advantage - homeowners association | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | 0 | ||
Commercial | Non-performing | Aircraft | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | 0 | ||
Commercial | Non-performing | Asset-based lending | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 637 | 536 | ||
Commercial | Non-performing | Tax exempt | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | 0 | ||
Commercial | Non-performing | Leases | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | 0 | ||
Commercial | Non-performing | Other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | 0 | ||
Commercial | Non-performing | Purchased non-covered commercial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | [1] | 0 | [1] |
Commercial real-estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 4,230,035 | 3,864,118 | ||
Commercial real-estate | Residential construction | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 38,500 | 40,401 | ||
Commercial real-estate | Commercial construction | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 136,706 | 170,955 | ||
Commercial real-estate | Land | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 106,785 | 134,197 | ||
Commercial real-estate | Office | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 642,241 | 569,711 | ||
Commercial real-estate | Industrial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 633,938 | 577,937 | ||
Commercial real-estate | Retail | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 656,259 | 568,896 | ||
Commercial real-estate | Multi-family | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 566,537 | 396,691 | ||
Commercial real-estate | Mixed use and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,372,454 | 1,349,254 | ||
Commercial real-estate | Purchased non-covered commercial real-estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 76,615 | [1],[2] | 56,076 | [1],[2] |
Commercial real-estate | Performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 4,183,147 | 3,814,145 | ||
Commercial real-estate | Performing | Residential construction | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 38,351 | 37,291 | ||
Commercial real-estate | Performing | Commercial construction | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 129,737 | 168,796 | ||
Commercial real-estate | Performing | Land | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 103,971 | 122,898 | ||
Commercial real-estate | Performing | Office | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 632,154 | 565,515 | ||
Commercial real-estate | Performing | Industrial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 628,284 | 575,848 | ||
Commercial real-estate | Performing | Retail | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 645,397 | 561,104 | ||
Commercial real-estate | Performing | Multi-family | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 564,502 | 394,105 | ||
Commercial real-estate | Performing | Mixed use and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,364,136 | 1,332,512 | ||
Commercial real-estate | Performing | Purchased non-covered commercial real-estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 76,615 | [1] | 56,076 | [1] |
Commercial real-estate | Non-performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 46,888 | 49,973 | ||
Commercial real-estate | Non-performing | Residential construction | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 149 | 3,110 | ||
Commercial real-estate | Non-performing | Commercial construction | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 6,969 | 2,159 | ||
Commercial real-estate | Non-performing | Land | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 2,814 | 11,299 | ||
Commercial real-estate | Non-performing | Office | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 10,087 | 4,196 | ||
Commercial real-estate | Non-performing | Industrial | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 5,654 | 2,089 | ||
Commercial real-estate | Non-performing | Retail | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 10,862 | 7,792 | ||
Commercial real-estate | Non-performing | Multi-family | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 2,035 | 2,586 | ||
Commercial real-estate | Non-performing | Mixed use and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 8,318 | 16,742 | ||
Commercial real-estate | Non-performing | Purchased non-covered commercial real-estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | [1] | 0 | [1] |
Home equity | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 719,137 | 788,474 | ||
Home equity | Performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 709,066 | 774,951 | ||
Home equity | Non-performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 10,071 | 13,523 | ||
Residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 434,992 | 367,213 | ||
Residential real estate | Residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 432,125 | 366,357 | ||
Residential real estate | Purchased non-covered residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 2,867 | [1],[2] | 856 | [1],[2] |
Residential real estate | Performing | Residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 417,151 | 354,629 | ||
Residential real estate | Performing | Purchased non-covered residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 2,867 | [1] | 856 | [1] |
Residential real estate | Non-performing | Residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 14,974 | 11,728 | ||
Residential real estate | Non-performing | Purchased non-covered residential real estate | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | [1] | 0 | [1] |
Premium finance receivables | Commercial insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 2,167,565 | 1,987,856 | ||
Premium finance receivables | Life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,499,792 | 1,210,707 | ||
Premium finance receivables | Purchased life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 423,906 | [1],[2] | 514,459 | [1],[2] |
Premium finance receivables | Performing | Commercial insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 2,148,186 | 1,968,546 | ||
Premium finance receivables | Performing | Life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,499,792 | 1,210,682 | ||
Premium finance receivables | Performing | Purchased life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 423,906 | [1] | 514,459 | [1] |
Premium finance receivables | Non-performing | Commercial insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 19,379 | 19,310 | ||
Premium finance receivables | Non-performing | Life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | ' | 25 | ||
Premium finance receivables | Non-performing | Purchased life insurance loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 0 | [1] | 0 | [1] |
Indirect consumer | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 50,680 | 77,333 | ||
Indirect consumer | Performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 50,520 | 77,089 | ||
Indirect consumer | Non-performing | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 160 | 244 | ||
Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 116,808 | 103,985 | ||
Consumer and other | Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 115,604 | 101,153 | ||
Consumer and other | Purchased non-covered consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,204 | [1],[2] | 2,832 | [1],[2] |
Consumer and other | Performing | Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 114,522 | 99,610 | ||
Consumer and other | Performing | Purchased non-covered consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,204 | [1] | 2,832 | [1] |
Consumer and other | Non-performing | Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | 1,082 | 1,543 | ||
Consumer and other | Non-performing | Purchased non-covered consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income, excluding covered loans | $0 | [1] | $0 | [1] |
[1] | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASCB 310-30. See Note 4 - Loans for further discussion of these purchased loans. | |||
[2] | Purchased loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASCB 310-30. Loan agings are based upon contractually required payments. See Note 4 - Loans for further discussion of these purchased loans. |
Allowance_for_Loan_Losses_Allo4
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Activity in the Allowance for Credit Losses by Loan Portfolio) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | $107,351 | $110,381 |
Other adjustments | -938 | -1,333 |
Reclassification to/from allowance for unfunded lending-related commitments | 640 | 693 |
Charge-offs | -62,377 | -84,390 |
Recoveries | 6,262 | 9,588 |
Provision for credit losses | 45,984 | 72,412 |
Allowance for loan losses at period end | 96,922 | 107,351 |
Allowance for unfunded lending-related commitments at period end | 719 | 14,647 |
Allowance for credit losses at period end | 97,641 | 121,998 |
Allowance for credit losses, Individually evaluated for impairment | 8,402 | 27,657 |
Allowance for credit losses, Collectively evaluated for impairment | 89,112 | 94,243 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 127 | 98 |
Loans, Individually evaluated for impairment | 164,564 | 204,545 |
Loans, Collectively evaluated for impairment | 12,216,263 | 11,045,165 |
Loans, Loans acquired with deteriorated credit quality | 515,775 | 579,233 |
Commercial | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | 28,794 | 31,237 |
Other adjustments | -51 | -151 |
Reclassification to/from allowance for unfunded lending-related commitments | 0 | 45 |
Charge-offs | -14,123 | -22,405 |
Recoveries | 1,655 | 1,220 |
Provision for credit losses | 6,817 | 18,848 |
Allowance for loan losses at period end | 23,092 | 28,794 |
Allowance for unfunded lending-related commitments at period end | 0 | 0 |
Allowance for credit losses at period end | 23,092 | 28,794 |
Allowance for credit losses, Individually evaluated for impairment | 1,392 | 3,296 |
Allowance for credit losses, Collectively evaluated for impairment | 21,637 | 25,471 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 63 | 27 |
Loans, Individually evaluated for impairment | 17,628 | 33,608 |
Loans, Collectively evaluated for impairment | 3,224,876 | 2,876,180 |
Loans, Loans acquired with deteriorated credit quality | 11,183 | 5,010 |
Commercial real-estate | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | 52,135 | 56,405 |
Other adjustments | -783 | -1,054 |
Reclassification to/from allowance for unfunded lending-related commitments | 640 | 648 |
Charge-offs | -32,745 | -43,539 |
Recoveries | 2,526 | 6,635 |
Provision for credit losses | 26,885 | 33,040 |
Allowance for loan losses at period end | 48,658 | 52,135 |
Allowance for unfunded lending-related commitments at period end | 719 | 14,647 |
Allowance for credit losses at period end | 49,377 | 66,782 |
Allowance for credit losses, Individually evaluated for impairment | 4,653 | 20,481 |
Allowance for credit losses, Collectively evaluated for impairment | 44,724 | 46,233 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 0 | 68 |
Loans, Individually evaluated for impairment | 117,149 | 139,878 |
Loans, Collectively evaluated for impairment | 4,036,271 | 3,668,164 |
Loans, Loans acquired with deteriorated credit quality | 76,615 | 56,076 |
Home equity | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | 12,734 | 7,712 |
Other adjustments | 3 | -4 |
Reclassification to/from allowance for unfunded lending-related commitments | 0 | 0 |
Charge-offs | -6,361 | -9,361 |
Recoveries | 432 | 428 |
Provision for credit losses | 5,803 | 13,959 |
Allowance for loan losses at period end | 12,611 | 12,734 |
Allowance for unfunded lending-related commitments at period end | 0 | 0 |
Allowance for credit losses at period end | 12,611 | 12,734 |
Allowance for credit losses, Individually evaluated for impairment | 1,593 | 2,569 |
Allowance for credit losses, Collectively evaluated for impairment | 11,018 | 10,165 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 0 | 0 |
Loans, Individually evaluated for impairment | 10,297 | 14,590 |
Loans, Collectively evaluated for impairment | 708,840 | 773,884 |
Loans, Loans acquired with deteriorated credit quality | 0 | 0 |
Residential real estate | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | 5,560 | 5,028 |
Other adjustments | -88 | -124 |
Reclassification to/from allowance for unfunded lending-related commitments | 0 | 0 |
Charge-offs | -2,958 | -4,060 |
Recoveries | 289 | 22 |
Provision for credit losses | 2,305 | 4,694 |
Allowance for loan losses at period end | 5,108 | 5,560 |
Allowance for unfunded lending-related commitments at period end | 0 | 0 |
Allowance for credit losses at period end | 5,108 | 5,560 |
Allowance for credit losses, Individually evaluated for impairment | 655 | 1,169 |
Allowance for credit losses, Collectively evaluated for impairment | 4,390 | 4,388 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 63 | 3 |
Loans, Individually evaluated for impairment | 17,901 | 14,810 |
Loans, Collectively evaluated for impairment | 414,224 | 351,547 |
Loans, Loans acquired with deteriorated credit quality | 2,867 | 856 |
Premium finance receivables | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | 6,096 | 7,214 |
Other adjustments | -19 | 0 |
Reclassification to/from allowance for unfunded lending-related commitments | 0 | 0 |
Charge-offs | -5,080 | -3,780 |
Recoveries | 1,121 | 940 |
Provision for credit losses | 3,465 | 1,722 |
Allowance for loan losses at period end | 5,583 | 6,096 |
Allowance for unfunded lending-related commitments at period end | 0 | 0 |
Allowance for credit losses at period end | 5,583 | 6,096 |
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 |
Allowance for credit losses, Collectively evaluated for impairment | 5,583 | 6,096 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 0 | 0 |
Loans, Individually evaluated for impairment | 0 | 0 |
Loans, Collectively evaluated for impairment | 3,667,357 | 3,198,563 |
Loans, Loans acquired with deteriorated credit quality | 423,906 | 514,459 |
Indirect consumer | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | 267 | 645 |
Other adjustments | 0 | 0 |
Reclassification to/from allowance for unfunded lending-related commitments | 0 | 0 |
Charge-offs | -130 | -221 |
Recoveries | 53 | 103 |
Provision for credit losses | -8 | -260 |
Allowance for loan losses at period end | 182 | 267 |
Allowance for unfunded lending-related commitments at period end | 0 | 0 |
Allowance for credit losses at period end | 182 | 267 |
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 |
Allowance for credit losses, Collectively evaluated for impairment | 182 | 267 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 0 | 0 |
Loans, Individually evaluated for impairment | 55 | 53 |
Loans, Collectively evaluated for impairment | 50,625 | 77,280 |
Loans, Loans acquired with deteriorated credit quality | 0 | 0 |
Consumer and other | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Allowance for loan losses at beginning of period | 1,765 | 2,140 |
Other adjustments | 0 | 0 |
Reclassification to/from allowance for unfunded lending-related commitments | 0 | 0 |
Charge-offs | -980 | -1,024 |
Recoveries | 186 | 240 |
Provision for credit losses | 717 | 409 |
Allowance for loan losses at period end | 1,688 | 1,765 |
Allowance for unfunded lending-related commitments at period end | 0 | 0 |
Allowance for credit losses at period end | 1,688 | 1,765 |
Allowance for credit losses, Individually evaluated for impairment | 109 | 142 |
Allowance for credit losses, Collectively evaluated for impairment | 1,578 | 1,623 |
Allowance for credit losses, Loans acquired with deteriorated credit quality | 1 | 0 |
Loans, Individually evaluated for impairment | 1,534 | 1,606 |
Loans, Collectively evaluated for impairment | 114,070 | 99,547 |
Loans, Loans acquired with deteriorated credit quality | $1,204 | $2,832 |
Allowance_for_Loan_Losses_Allo5
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Activity in the Allowance for Covered Loan Losses) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Covered Loan Losses [Roll Forward] | ' | ' |
Balance at beginning of period | $13,454 | $12,977 |
Provision for covered loan losses before benefit attributable to FDIC loss share agreements | 246 | 20,282 |
Benefit attributable to FDIC loss share agreements | -197 | -16,258 |
Net provision for covered loan losses | 49 | 4,024 |
Increase in FDIC indemnification asset | 197 | 16,258 |
Loans charged-off | -15,085 | -19,921 |
Recoveries of loans charged-off | 11,477 | 116 |
Net charge-offs | 3,608 | 19,805 |
Balance at end of period | $10,092 | $13,454 |
Allowance_for_Loan_Losses_Allo6
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Impaired Loans, Including Restructured Loans) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Loans and Leases Receivable, Allowance [Abstract] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | $92,184 | [1] | $89,983 | [1] | ' |
Impaired loans with no allowance for loan loss required | 70,045 | 114,562 | ' | ||
Total impaired loans | 162,229 | 204,545 | [2] | ' | |
Allowance for loan losses related to impaired loans | 8,265 | 13,575 | ' | ||
Troubled debt restructurings | ' | 126,473 | ' | ||
Reduction of interest income from non-accrual loans | 3,971 | 3,866 | ' | ||
Interest income recognized on impaired loans | $8,920 | $10,819 | $12,500 | ||
[1] | These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans. | ||||
[2] | Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest. |
Allowance_for_Loan_Losses_Allo7
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Impaired Loans Evaluated for Impairment by Loan Class) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | $92,184 | [1] | $89,983 | [1] | ' |
Impaired loans with no allowance for loan loss required | 70,045 | 114,562 | ' | ||
Recorded Investment | 162,229 | 204,545 | [2] | ' | |
Impaired Financing Receivable, Unpaid Principal Balance | 195,455 | 231,340 | ' | ||
Related Allowance | 8,265 | 13,575 | ' | ||
Average recorded investment | 170,658 | 222,076 | 247,100 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 8,920 | 10,819 | 12,500 | ||
Commercial | Commercial and industrial | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 6,297 | 11,010 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 7,001 | 12,562 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6,611 | 13,312 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 354 | 881 | ' | ||
Impaired loans with no allowance for loan loss required | 9,890 | 20,270 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 16,333 | 27,574 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 13,928 | 23,877 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 1,043 | 1,259 | ' | ||
Related Allowance | 1,078 | 1,982 | ' | ||
Commercial | Franchise | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 1,792 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 1,792 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 1,792 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 122 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 1,259 | ' | ||
Commercial | Mortgage warehouse lines of credit | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Commercial | Community Advantage - homeowners association | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Commercial | Aircraft | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Commercial | Asset-based lending | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 282 | 511 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 294 | 511 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 295 | 484 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 14 | 26 | ' | ||
Impaired loans with no allowance for loan loss required | 354 | 25 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,311 | 1,362 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,162 | 252 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 121 | 76 | ' | ||
Related Allowance | 282 | 55 | ' | ||
Commercial | Tax exempt | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Commercial | Leases | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Commercial | Other | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Commercial real-estate | Residential construction | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 2,007 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 2,007 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 2,007 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 98 | ' | ||
Impaired loans with no allowance for loan loss required | 1,463 | 4,085 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,530 | 4,440 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,609 | 4,507 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 64 | 143 | ' | ||
Related Allowance | 0 | 389 | ' | ||
Commercial real-estate | Commercial construction | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 3,099 | 1,865 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,099 | 1,865 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 3,098 | 1,865 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 115 | 78 | ' | ||
Impaired loans with no allowance for loan loss required | 7,710 | 12,263 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 13,227 | 13,395 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 9,680 | 13,635 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 722 | 540 | ' | ||
Related Allowance | 18 | 70 | ' | ||
Commercial real-estate | Land | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 10,518 | 12,184 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 11,871 | 12,860 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 10,323 | 12,673 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 411 | 483 | ' | ||
Impaired loans with no allowance for loan loss required | 5,035 | 12,163 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 8,813 | 17,141 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 5,384 | 14,646 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 418 | 906 | ' | ||
Related Allowance | 259 | 1,414 | ' | ||
Commercial real-estate | Office | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 7,792 | 5,829 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 8,444 | 5,887 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 8,148 | 5,936 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 333 | 246 | ' | ||
Impaired loans with no allowance for loan loss required | 10,379 | 8,939 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 11,717 | 9,521 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 10,925 | 9,432 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 610 | 437 | ' | ||
Related Allowance | 1,253 | 622 | ' | ||
Commercial real-estate | Industrial | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 3,385 | 1,150 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,506 | 1,200 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 3,638 | 1,208 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 179 | 75 | ' | ||
Impaired loans with no allowance for loan loss required | 5,087 | 3,598 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 5,267 | 3,776 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 5,160 | 3,741 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 328 | 181 | ' | ||
Related Allowance | 193 | 224 | ' | ||
Commercial real-estate | Retail | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 17,511 | 13,240 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 17,638 | 13,314 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 17,678 | 13,230 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 724 | 584 | ' | ||
Impaired loans with no allowance for loan loss required | 7,047 | 18,073 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 8,610 | 18,997 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 8,462 | 19,067 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 400 | 892 | ' | ||
Related Allowance | 1,253 | 343 | ' | ||
Commercial real-estate | Multi-family | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 3,237 | 3,954 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,730 | 3,954 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,248 | 3,972 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 139 | 157 | ' | ||
Impaired loans with no allowance for loan loss required | 608 | 2,817 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,030 | 4,494 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 903 | 4,120 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 47 | 222 | ' | ||
Related Allowance | 235 | 348 | ' | ||
Commercial real-estate | Mixed use and other | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 28,935 | 22,249 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 29,051 | 23,166 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 26,792 | 23,185 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 1,194 | 1,165 | ' | ||
Impaired loans with no allowance for loan loss required | 4,077 | 15,462 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 6,213 | 17,210 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 5,046 | 16,122 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 352 | 912 | ' | ||
Related Allowance | 1,366 | 2,989 | ' | ||
Home equity | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 3,985 | 7,270 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 5,238 | 7,313 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 4,855 | 7,282 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 236 | 271 | ' | ||
Impaired loans with no allowance for loan loss required | 6,312 | 7,320 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 7,790 | 8,758 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 6,307 | 8,164 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 324 | 376 | ' | ||
Related Allowance | 1,593 | 2,569 | ' | ||
Residential real estate | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 6,876 | 6,420 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 7,023 | 6,931 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6,335 | 6,424 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 273 | 226 | ' | ||
Impaired loans with no allowance for loan loss required | 10,761 | 8,390 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 13,585 | 9,189 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 9,443 | 9,069 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 393 | 337 | ' | ||
Related Allowance | 626 | 1,169 | ' | ||
Premium finance receivables | Commercial insurance loans | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Premium finance receivables | Life insurance loans | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Premium finance receivables | Purchased life insurance loans | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Indirect consumer | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ' | ||
Impaired loans with no allowance for loan loss required | 55 | 53 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 61 | 61 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 48 | 65 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 6 | 6 | ' | ||
Related Allowance | 0 | 0 | ' | ||
Consumer and other | ' | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ||
Impaired loans with an allowance for loan loss required | 267 | 502 | ' | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 269 | 502 | ' | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 273 | 502 | ' | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 11 | 26 | ' | ||
Impaired loans with no allowance for loan loss required | 1,267 | 1,104 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,804 | 1,558 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,307 | 1,507 | ' | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 109 | 94 | ' | ||
Related Allowance | $109 | $142 | ' | ||
[1] | These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans. | ||||
[2] | Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest. |
Allowance_for_Loan_Losses_Allo8
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of the Post-Modification Balance of Loans Restructured) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Loan | Loan | Loan | ||||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 35 | [1],[2],[3] | 75 | [1],[2],[3] | 123 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $22,680 | [1],[2],[3] | $72,512 | [1],[2],[3] | $100,528 | [1],[2],[3] |
Commercial | Commercial and industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 6 | [1],[2],[3] | 18 | [1],[2],[3] | 24 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 708 | [1],[2],[3] | 14,311 | [1],[2],[3] | 6,956 | [1],[2],[3] |
Commercial real-estate | Residential construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1],[2],[3] | 3 | [1],[2],[3] | 1 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1],[2],[3] | 2,147 | [1],[2],[3] | 1,105 | [1],[2],[3] |
Commercial real-estate | Commercial construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 3 | [1],[2],[3] | 2 | [1],[2],[3] | 8 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 6,120 | [1],[2],[3] | 622 | [1],[2],[3] | 12,140 | [1],[2],[3] |
Commercial real-estate | Land | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 3 | [1],[2],[3] | 17 | [1],[2],[3] | 7 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,639 | [1],[2],[3] | 31,836 | [1],[2],[3] | 7,971 | [1],[2],[3] |
Commercial real-estate | Office | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 4 | [1],[2],[3] | 0 | [1],[2],[3] | 9 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 4,021 | [1],[2],[3] | 0 | [1],[2],[3] | 8,870 | [1],[2],[3] |
Commercial real-estate | Industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1],[2],[3] | 1 | [1],[2],[3] | 5 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 949 | [1],[2],[3] | 727 | [1],[2],[3] | 5,334 | [1],[2],[3] |
Commercial real-estate | Retail | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1],[2],[3] | 8 | [1],[2],[3] | 14 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 200 | [1],[2],[3] | 13,518 | [1],[2],[3] | 19,113 | [1],[2],[3] |
Commercial real-estate | Multi-family | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1],[2],[3] | 1 | [1],[2],[3] | 6 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 705 | [1],[2],[3] | 380 | [1],[2],[3] | 4,415 | [1],[2],[3] |
Commercial real-estate | Mixed use and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 6 | [1],[2],[3] | 15 | [1],[2],[3] | 33 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 5,042 | [1],[2],[3] | 7,333 | [1],[2],[3] | 28,708 | [1],[2],[3] |
Residential real estate and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 10 | [1],[2],[3] | 10 | [1],[2],[3] | 16 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,296 | [1],[2],[3] | 1,638 | [1],[2],[3] | 5,916 | [1],[2],[3] |
Extension At Below Market Terms [Member] | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 30 | [1] | 59 | [1] | 82 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 21,862 | [1] | 58,612 | [1] | 71,633 | [1] |
Extension At Below Market Terms [Member] | Commercial | Commercial and industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 5 | [1] | 11 | [1] | 11 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 573 | [1] | 3,603 | [1] | 2,273 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Residential construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 3 | [1] | 1 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 2,147 | [1] | 1,105 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Commercial construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 3 | [1] | 2 | [1] | 7 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 6,120 | [1] | 622 | [1] | 11,673 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Land | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 3 | [1] | 17 | [1] | 7 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,639 | [1] | 31,836 | [1] | 7,971 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Office | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 4 | [1] | 0 | [1] | 6 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 4,021 | [1] | 0 | [1] | 4,780 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 1 | [1] | 5 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 949 | [1] | 727 | [1] | 5,334 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Retail | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 8 | [1] | 11 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 200 | [1] | 13,518 | [1] | 16,981 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Multi-family | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 0 | [1] | 6 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 705 | [1] | 0 | [1] | 4,415 | [1] |
Extension At Below Market Terms [Member] | Commercial real-estate | Mixed use and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 6 | [1] | 9 | [1] | 21 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 5,042 | [1] | 4,769 | [1] | 14,775 | [1] |
Extension At Below Market Terms [Member] | Residential real estate and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 6 | [1] | 8 | [1] | 7 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,613 | [1] | 1,390 | [1] | 2,326 | [1] |
Reduction Of Interest Rate [Member] | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 22 | [1] | 53 | [1] | 80 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 9,128 | [1] | 62,241 | [1] | 60,858 | [1] |
Reduction Of Interest Rate [Member] | Commercial | Commercial and industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 4 | [1] | 11 | [1] | 14 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 553 | [1] | 13,691 | [1] | 1,933 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Residential construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 1 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 496 | [1] | 0 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Commercial construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 2 | [1] | 3 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 622 | [1] | 9,402 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Land | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 2 | [1] | 14 | [1] | 2 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 287 | [1] | 30,561 | [1] | 2,981 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Office | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 0 | [1] | 6 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 556 | [1] | 0 | [1] | 4,036 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 1 | [1] | 4 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 949 | [1] | 727 | [1] | 3,494 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Retail | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 6 | [1] | 5 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 200 | [1] | 8,865 | [1] | 3,963 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Multi-family | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 1 | [1] | 5 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 705 | [1] | 380 | [1] | 3,866 | [1] |
Reduction Of Interest Rate [Member] | Commercial real-estate | Mixed use and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 5 | [1] | 11 | [1] | 28 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 4,947 | [1] | 6,268 | [1] | 25,921 | [1] |
Reduction Of Interest Rate [Member] | Residential real estate and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 7 | [1] | 6 | [1] | 13 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 931 | [1] | 631 | [1] | 5,262 | [1] |
Modification To Interest Only Payments [Member] | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 8 | [1] | 41 | [1] | 39 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 7,471 | [1] | 56,383 | [1] | 26,474 | [1] |
Modification To Interest Only Payments [Member] | Commercial | Commercial and industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 2 | [1] | 7 | [1] | 13 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 185 | [1] | 10,579 | [1] | 3,780 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Residential construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 1 | [1] | 1 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 496 | [1] | 1,105 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Commercial construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 3 | [1] | 2 | [1] | 1 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 6,120 | [1] | 622 | [1] | 467 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Land | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 13 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 26,511 | [1] | 0 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Office | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 3 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 4,292 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 2 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 2,181 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Retail | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 6 | [1] | 5 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 12,897 | [1] | 5,191 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Multi-family | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 1 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 380 | [1] | 0 | [1] |
Modification To Interest Only Payments [Member] | Commercial real-estate | Mixed use and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 8 | [1] | 10 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 932 | [1] | 3,974 | [1] | 8,068 | [1] |
Modification To Interest Only Payments [Member] | Residential real estate and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 2 | [1] | 3 | [1] | 4 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 234 | [1] | 924 | [1] | 1,390 | [1] |
Forgiveness Of Debt [Member] | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 2 | [1] | 4 | [1] | 2 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,073 | [1] | 2,340 | [1] | 135 | [1] |
Forgiveness Of Debt [Member] | Commercial | Commercial and industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 3 | [1] | 2 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 2,311 | [1] | 135 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Residential construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Commercial construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Land | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 73 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Office | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Retail | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Multi-family | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Commercial real-estate | Mixed use and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1] | 0 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Forgiveness Of Debt [Member] | Residential real estate and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1] | 1 | [1] | 0 | [1] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $1,000 | [1] | $29 | [1] | $0 | [1] |
[1] | Balances represent the recorded investment in the loan at the time of the restructuring. | |||||
[2] | Total TDRs represent all loans restructured in TDRs during the year indicated. | |||||
[3] | TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above. |
Allowance_for_Loan_Losses_Allo9
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Loans Restructured and Subsequently Defaulted Under the Restructured Terms) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Loan | Loan | Loan | ||||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 35 | [1],[2],[3] | 75 | [1],[2],[3] | 123 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $22,680 | [1],[2],[3] | $72,512 | [1],[2],[3] | $100,528 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 5 | [1],[4] | 18 | [1],[4] | 25 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2,683 | [1],[4] | 20,553 | [1],[4] | 18,224 | [1],[4] |
Commercial | Commercial and industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 6 | [1],[2],[3] | 18 | [1],[2],[3] | 24 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 708 | [1],[2],[3] | 14,311 | [1],[2],[3] | 6,956 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | [1],[4] | 4 | [1],[4] | 6 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 20 | [1],[4] | 9,925 | [1],[4] | 1,742 | [1],[4] |
Commercial real-estate | Residential construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 0 | [1],[2],[3] | 3 | [1],[2],[3] | 1 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | [1],[2],[3] | 2,147 | [1],[2],[3] | 1,105 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | [1],[4] | 0 | [1],[4] | 0 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | [1],[4] | 0 | [1],[4] | 0 | [1],[4] |
Commercial real-estate | Commercial construction | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 3 | [1],[2],[3] | 2 | [1],[2],[3] | 8 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 6,120 | [1],[2],[3] | 622 | [1],[2],[3] | 12,140 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | [1],[4] | 2 | [1],[4] | 1 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | [1],[4] | 622 | [1],[4] | 467 | [1],[4] |
Commercial real-estate | Land | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 3 | [1],[2],[3] | 17 | [1],[2],[3] | 7 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,639 | [1],[2],[3] | 31,836 | [1],[2],[3] | 7,971 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | [1],[4] | 2 | [1],[4] | 2 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 215 | [1],[4] | 3,786 | [1],[4] | 1,667 | [1],[4] |
Commercial real-estate | Office | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 4 | [1],[2],[3] | 0 | [1],[2],[3] | 9 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 4,021 | [1],[2],[3] | 0 | [1],[2],[3] | 8,870 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | [1],[4] | 0 | [1],[4] | 2 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 1,648 | [1],[4] | 0 | [1],[4] | 2,239 | [1],[4] |
Commercial real-estate | Industrial | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1],[2],[3] | 1 | [1],[2],[3] | 5 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 949 | [1],[2],[3] | 727 | [1],[2],[3] | 5,334 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | [1],[4] | 0 | [1],[4] | 2 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | [1],[4] | 0 | [1],[4] | 3,224 | [1],[4] |
Commercial real-estate | Retail | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1],[2],[3] | 8 | [1],[2],[3] | 14 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 200 | [1],[2],[3] | 13,518 | [1],[2],[3] | 19,113 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | [1],[4] | 1 | [1],[4] | 2 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | [1],[4] | 3,607 | [1],[4] | 2,694 | [1],[4] |
Commercial real-estate | Multi-family | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 1 | [1],[2],[3] | 1 | [1],[2],[3] | 6 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 705 | [1],[2],[3] | 380 | [1],[2],[3] | 4,415 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | [1],[4] | 0 | [1],[4] | 0 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 705 | [1],[4] | 0 | [1],[4] | 0 | [1],[4] |
Commercial real-estate | Mixed use and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 6 | [1],[2],[3] | 15 | [1],[2],[3] | 33 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 5,042 | [1],[2],[3] | 7,333 | [1],[2],[3] | 28,708 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | [1],[4] | 4 | [1],[4] | 6 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 95 | [1],[4] | 1,445 | [1],[4] | 5,283 | [1],[4] |
Residential real estate and other | ' | ' | ' | |||
Financing Receivables, Modifications [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Number of Contracts | 10 | [1],[2],[3] | 10 | [1],[2],[3] | 16 | [1],[2],[3] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,296 | [1],[2],[3] | 1,638 | [1],[2],[3] | 5,916 | [1],[2],[3] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | [1],[4] | 5 | [1],[4] | 4 | [1],[4] |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | [1],[4] | $1,168 | [1],[4] | $908 | [1],[4] |
[1] | Balances represent the recorded investment in the loan at the time of the restructuring. | |||||
[2] | Total TDRs represent all loans restructured in TDRs during the year indicated. | |||||
[3] | TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above. | |||||
[4] | TDRs considered to be in payment default are over 30 days past-due subsequent to the restructuring. |
Recovered_Sheet1
Allowance for Loan Losses Allowance for Losses on Lending-Related Commitments and Impaired Loans (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Loan | Loan | Loan | Financing Receivable [Member] | Financing Receivable [Member] | Financing Receivable [Member] | ||||
Loan | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $22,680,000 | [1],[2],[3] | $72,512,000 | [1],[2],[3] | $100,528,000 | [1],[2],[3] | ' | ' | ' |
Average recorded investment | 170,658,000 | 222,076,000 | 247,100,000 | ' | ' | ' | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 8,920,000 | 10,819,000 | 12,500,000 | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 126,473,000 | ' | ' | 107,103,000 | ' | |||
Allowance for loan losses related to impaired loans | 8,265,000 | 13,575,000 | ' | ' | 4,800,000 | ' | |||
Loans and Leases Receivable, Impaired, Interest Income Recognized, Change in Present Value Attributable to Passage of Time | ' | ' | ' | ' | 901,000 | 1,300,000 | |||
Financing Receivable, Modifications, Number of Contracts | 35 | [1],[2],[3] | 75 | [1],[2],[3] | 123 | [1],[2],[3] | 149 | ' | ' |
Financing Receivables, Modifications, Weighted Average Extension Term | '18 months | '9 months | '11 months | ' | ' | ' | |||
Weighted Average Stated Interest Rate Basis Points | 1.84% | 1.57% | 1.92% | ' | ' | ' | |||
Financing Receivables, Modifications, Weighted Average Interest Only Term | '11 months | '5 months | '9 months | ' | ' | ' | |||
Loan Forgiveness | $1,000,000 | $800,000 | $67,000 | ' | ' | ' | |||
[1] | Balances represent the recorded investment in the loan at the time of the restructuring. | ||||||||
[2] | Total TDRs represent all loans restructured in TDRs during the year indicated. | ||||||||
[3] | TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above. |
Loan_Securitization_Narrative_
Loan Securitization (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | |||||
Sep. 30, 2009 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 30, 2012 | Aug. 15, 2012 | Sep. 30, 2009 | Sep. 11, 2009 | Aug. 15, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Class A [Member] | Class A [Member] | Class A [Member] | Class B and C [Member] | Securitization Entity [Member] | Securitization Entity [Member] | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Instruments issued by the securitization entity | ' | ' | ' | ' | ' | ' | $600,000,000 | ' | ' | ' |
Class A notes annual interest rate of one-month LIBOR plus | ' | ' | ' | ' | ' | 1.45% | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | 'One-month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company repurchased notes | ' | 239,200,000 | ' | ' | 360,800,000 | ' | ' | 49,600,000 | ' | ' |
Secured borrowings - owed to securitization investors | ' | 0 | 0 | 360,800,000 | ' | ' | ' | ' | ' | ' |
Proceeds from secured debt intercompany | ' | ' | ' | ' | 239,200,000 | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Other borrowings | ' | 274,411,000 | 254,740,000 | ' | ' | ' | ' | ' | 0 | 0 |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | $36,000 |
Mortgage_Servicing_Rights_Sche
Mortgage Servicing Rights (Schedule Of Changes In Carrying Value Of MSR) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Servicing Asset at Fair Value, Amount [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $6,750 | $6,700 | $8,762 |
Additions from loans sold with servicing retained | 523 | 4,151 | 2,611 |
Estimate of changes in fair value due to: | ' | ' | ' |
Payoffs and paydowns | -941 | -3,808 | -2,430 |
Changes in valuation inputs or assumptions | 2,614 | -293 | -2,243 |
Fair value at end of year | 8,946 | 6,750 | 6,700 |
Unpaid principal balance of mortgage loans serviced for others | $961,619 | $1,005,372 | $958,749 |
Business_Combinations_Summary_
Business Combinations (Summary of Acquisition of Certain Assets and the Assumption of Liabilities, of Six Financial Institutions in FDIC-Assisted Transactions) (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 10, 2012 | Jul. 20, 2012 | Sep. 28, 2012 | ||||
Charter National [Member] | Second Federal [Member] | First United Bank [Member] | |||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | |||
Date of acquisition | ' | ' | ' | 10-Feb-12 | 20-Jul-12 | [1] | 28-Sep-12 | ||
Fair value of assets acquired, at the acquisition date | ' | ' | ' | $92,355,000 | $171,625,000 | [1] | $328,408,000 | ||
Fair value of loans acquired, at the acquisition date | ' | ' | ' | 45,555,000 | 0 | [1] | 77,964,000 | ||
Fair value of liabilities assumed, at the acquisition date | ' | ' | ' | 91,570,000 | 171,582,000 | [1] | 321,734,000 | ||
Fair value of reimbursable losses, at the acquisition date | 85,672,000 | 208,160,000 | 344,251,000 | 13,164,000 | [2] | 0 | [1],[2] | 67,190,000 | [2] |
Gain on bargain purchase recognized | 0 | 7,503,000 | 37,974,000 | 785,000 | 43,000 | [1] | 6,675,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets Subject to Loss Sharing | ' | ' | ' | ' | $0 | ' | |||
[1] | Subsequent to the acquisition of Second Federal, deposits and banking operations were divested to an unaffiliated financial institution. See "Divestiture of Previous FDIC-Assisted Acquisition" below for further discussion. | ||||||||
[2] | As no assets subject to loss sharing agreements were acquired in the acquisition of Second Federal, there was no fair value of reimbursable losses. |
Business_Combinations_Summary_1
Business Combinations (Summary of FDIC Indemnification Asset) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
FDIC Indemnification Asset [Roll Forward] | ' | ' | ' |
Balance at beginning of period | $208,160 | $344,251 | ' |
Additions from acquisitions | 0 | 80,354 | ' |
Additions from reimbursable expenses | 13,022 | 21,859 | ' |
Amortization | -7,556 | -7,209 | ' |
Changes in expected reimbursements from the FDIC for changes in expected credit losses | -74,511 | -61,406 | ' |
Payments received from the FDIC | 53,443 | 169,689 | 92,595 |
Balance at end of period | $85,672 | $208,160 | $344,251 |
Business_Combinations_Narrativ
Business Combinations (Narrative) (Details) (USD $) | 12 Months Ended | 24 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Oct. 18, 2013 | 1-May-13 | Dec. 12, 2012 | Apr. 13, 2012 | Mar. 30, 2012 | Sep. 30, 2011 | Sep. 29, 2011 | Jun. 08, 2012 | Jul. 02, 2011 | Jun. 30, 2011 | Oct. 02, 2013 | Sep. 30, 2013 | Apr. 13, 2011 | Dec. 31, 2010 | Feb. 03, 2011 | Dec. 31, 2010 | 1-May-13 | 1-May-13 | Feb. 01, 2013 | |
segment | segment | financial_institution | Diamond | First Lansing Bancorp, Inc. [Member] | HPK Financial Corporation [Member] | Suburban Bank And Trust Company [Member] | Suburban Bank And Trust Company [Member] | Elgin State Bancorp Inc [Member] | Elgin State Bancorp Inc [Member] | Macquarie Premium Funding Inc [Member] | Great Lakes Advisors [Member] | Great Lakes Advisors [Member] | Surety Financial Services [Member] | Surety Financial Services [Member] | River City of Bloomington, Minnesota [Member] | River City of Bloomington, Minnesota [Member] | Woodfield of Rolling Meadows, Illinois [Member] | Woodfield of Rolling Meadows, Illinois [Member] | Chicago, Illinois [Member] | Northwest Indiana [Member] | Second Federal [Member] | |
locations | locations | locations | locations | locations | First Lansing Bancorp, Inc. [Member] | First Lansing Bancorp, Inc. [Member] | ||||||||||||||||
locations | locations | |||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Reportable Segments | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of acquisition | ' | ' | ' | 18-Oct-13 | 1-May-13 | 12-Dec-12 | 13-Apr-12 | 30-Mar-12 | 30-Sep-11 | ' | 8-Jun-12 | 1-Jul-11 | ' | 1-Oct-13 | ' | 13-Apr-11 | ' | 3-Feb-11 | ' | ' | ' | ' |
Number of Locations | ' | ' | ' | 4 | ' | 2 | ' | ' | ' | 3 | ' | ' | ' | ' | 5 | ' | ' | ' | ' | 7 | 1 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | $172,500,000 | $373,400,000 | $371,600,000 | ' | ' | ' | $263,200,000 | ' | ' | $26,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of loans acquired, at the acquisition date | ' | ' | ' | 91,700,000 | 123,000,000 | 118,500,000 | 3,000,000 | ' | ' | 146,700,000 | 213,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | 169,100,000 | 334,700,000 | 344,100,000 | ' | ' | ' | 248,400,000 | ' | ' | 8,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of deposits | ' | ' | ' | 140,200,000 | 331,400,000 | 243,800,000 | 52,000,000 | ' | ' | 241,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional goodwill recorded on acquisition | 31,846,000 | ' | ' | 8,400,000 | 14,000,000 | 12,600,000 | 1,500,000 | 1,800,000 | 5,000,000 | ' | 21,900,000 | 15,700,000 | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of FDIC-assisted banks acquired | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
FDIC loss sharing percentage on purchased loans, OREO, and certain other assets | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Divestiture of Businesses, Deposits Disposed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 149,000,000 |
Assets under management, carrying amount | ' | ' | ' | ' | ' | ' | ' | 160,000,000 | ' | ' | ' | ' | 2,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage Loan Originations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000,000 | ' | $500,000,000 | ' | $180,000,000 | ' | ' | ' |
Number of States in which Entity Operates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Goodwill Assets by Business Segment) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Goodwill [Roll Forward] | ' |
1-Jan-13 | $345,401 |
Goodwill Acquired | 31,846 |
Impairment Loss | 0 |
Goodwill Adjustments | -2,700 |
31-Dec-13 | 374,547 |
Community Banking [Member] | ' |
Goodwill [Roll Forward] | ' |
1-Jan-13 | 274,963 |
Goodwill Acquired | 31,846 |
Impairment Loss | 0 |
Goodwill Adjustments | -1,496 |
31-Dec-13 | 305,313 |
Specialty Finance [Member] | ' |
Goodwill [Roll Forward] | ' |
1-Jan-13 | 38,574 |
Goodwill Acquired | 0 |
Impairment Loss | 0 |
Goodwill Adjustments | -1,204 |
31-Dec-13 | 37,370 |
Wealth Management [Member] | ' |
Goodwill [Roll Forward] | ' |
1-Jan-13 | 31,864 |
Goodwill Acquired | 0 |
Impairment Loss | 0 |
Goodwill Adjustments | 0 |
31-Dec-13 | $31,864 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Summary of Finite-Lived Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Total other intangible assets, net | $19,213 | $20,947 |
Community Banking [Member] | Core Deposits [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Gross carrying amount | 40,770 | 38,176 |
Accumulated amortization | -29,189 | -25,159 |
Net carrying amount | 11,581 | 13,017 |
Specialty Finance [Member] | Customer Lists [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Gross carrying amount | 1,800 | 1,800 |
Accumulated amortization | -805 | -645 |
Net carrying amount | 995 | 1,155 |
Wealth Management [Member] | Customer List and Other Intangibles [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Gross carrying amount | 7,690 | 7,390 |
Accumulated amortization | -1,053 | -615 |
Net carrying amount | $6,637 | $6,775 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets (Estimated Amortization) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Estimated - 2014 | $4,369 |
Estimated - 2015 | 2,791 |
Estimated - 2016 | 2,180 |
Estimated - 2017 | 1,764 |
Estimated - 2018 | $1,544 |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill Acquired | $31,846 | ' | ' |
Goodwill Adjustments | -2,700 | ' | ' |
Amortization of intangible assets | 4,627 | 4,324 | 3,425 |
Community Banking [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill Acquired | 31,846 | ' | ' |
Goodwill Adjustments | -1,496 | ' | ' |
Specialty Finance [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill Acquired | 0 | ' | ' |
Goodwill Adjustments | -1,204 | ' | ' |
Wealth Management [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill Acquired | 0 | ' | ' |
Goodwill Adjustments | $0 | ' | ' |
Core Deposits [Member] | Community Banking [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Finite-lived intangibles, useful life | '10 years | ' | ' |
Customer Lists [Member] | Specialty Finance [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Finite-lived intangibles, useful life | '18 years | ' | ' |
Customer Lists [Member] | Wealth Management [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Finite-lived intangibles, useful life | '10 years | ' | ' |
Premises_and_Equipment_Net_Sum
Premises and Equipment, Net (Summary of Premises and Equipment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | $720,182 | $666,227 |
Less: Accumulated depreciation and amortization | 188,235 | 165,022 |
Total premises and equipment, net | 531,947 | 501,205 |
Land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | 116,906 | 105,427 |
Buildings and Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | 440,456 | 415,502 |
Furniture, Equipment, and Computer Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | 144,854 | 134,945 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | $17,966 | $10,353 |
Premises_and_Equipment_Net_Pre
Premises and Equipment, Net Premises and Equipment, Net (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation, Depletion and Amortization | $26 | $23.10 | $19.10 |
Deposits_Summary_of_Deposits_D
Deposits (Summary of Deposits) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Non-interest bearing, Balance | $2,721,771 | $2,396,264 |
NOW, Balance | 1,953,882 | 2,022,957 |
Wealth management deposits, Balance | 1,013,850 | 991,902 |
Money market, Balance | 3,359,999 | 2,761,498 |
Savings, Balance | 1,392,575 | 1,275,012 |
Time certificates of deposit, Balance | 4,226,712 | 4,980,911 |
Total deposits | $14,668,789 | $14,428,544 |
Non-interest bearing, Mix | 19.00% | 17.00% |
NOW, Mix | 13.00% | 14.00% |
Wealth management deposits, Mix | 7.00% | 7.00% |
Money market, Mix | 23.00% | 19.00% |
Savings, Mix | 9.00% | 9.00% |
Time certificates of deposit, Mix | 29.00% | 34.00% |
Total deposits, Mix | 100.00% | 100.00% |
Deposits_Schedule_of_Maturitie
Deposits (Schedule of Maturities of Time Certificates of Deposit) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Due within one year | $2,640,757 | $3,314,646 |
Due in one to two years | 908,443 | 1,042,769 |
Due in two to three years | 465,788 | 377,180 |
Due in three to four years | 131,455 | 135,003 |
Due in four to five years | 74,647 | 105,944 |
Due after five years | 5,622 | 5,369 |
Total time certificates of deposit | $4,226,712 | $4,980,911 |
Recovered_Sheet2
Deposits (Schedule Of Maturities of Time Deposits over $100,000) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Maturing within three months | $584,948 | $591,901 |
After three but within six months | 395,118 | 719,425 |
After six but within 12 months | 647,389 | 982,407 |
After 12 months | 1,088,954 | 1,073,016 |
Total | $2,716,409 | $3,366,749 |
Notes_Payable_Narrative_Detail
Notes Payable (Narrative) (Details) (USD $) | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Base Rate [Member] | Base Rate [Member] | Federal Funds Rate [Member] | Prime Rate [Member] | Eurodollar [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Base Rate Loan [Member] | Eurodollar Rate Loan [Member] | Base Rate Loan [Member] | Base Rate Loan [Member] | Base Rate Loan [Member] | Eurodollar Rate Loan [Member] | |||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | 3.50% | ' | ' | ' | ' |
Notes payable outstanding | $364,000 | $2,093,000 | ' | ' | ' | ' | $0 | ' | ' | ' | ' | $1,100,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Frequency of Periodic Payment | ' | ' | ' | ' | ' | 'quarterly | ' | ' | ' | 'quarterly | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | ' | ' | ' | ' | ' | ' |
Loan agreement with unaffiliated banks, amount | ' | ' | ' | 101,000,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | 100,000,000 | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date | ' | ' | ' | ' | 25-Oct-13 | ' | 6-Nov-14 | 1-Jun-15 | ' | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' |
(Decrease) increase in other borrowings, net | ($22,396,000) | ($306,786,000) | $226,050,000 | ' | ' | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | 1.00% | 0.50% | 1.50% | 2.50% |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | 0.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal_Home_Loan_Bank_Advance2
Federal Home Loan Bank Advances (Summary Of Outstanding FHLB Advances) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | $417,762 | $414,122 |
1.45% Advance Due July 2013 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 0 | 26,000 |
Federal Home Loan Bank advances, Interest rate | 1.45% | ' |
Federal Home Loan Bank advances, Due date | '2013 | ' |
0.13% Advance Due January 2014 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 30,000 | 0 |
Federal Home Loan Bank advances, Interest rate | 0.13% | ' |
Federal Home Loan Bank advances, Due date | '2014 | ' |
1.94% Advance Due July 2014 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 10,000 | 10,000 |
Federal Home Loan Bank advances, Interest rate | 1.94% | ' |
Federal Home Loan Bank advances, Due date | '2014 | ' |
1.58% Advance Due September 2014 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 25,127 | 25,300 |
Federal Home Loan Bank advances, Interest rate | 1.58% | ' |
Federal Home Loan Bank advances, Due date | '2014 | ' |
1.63% Advance Due September 2014 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 25,135 | 25,322 |
Federal Home Loan Bank advances, Interest rate | 1.63% | ' |
Federal Home Loan Bank advances, Due date | '2014 | ' |
0.72% Advance Due Feburary 2015 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 141,000 | 141,000 |
Federal Home Loan Bank advances, Interest rate | 0.72% | ' |
Federal Home Loan Bank advances, Due date | '2015 | ' |
0.73% Advance Due Feburary 2015 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 5,000 | 5,000 |
Federal Home Loan Bank advances, Interest rate | 0.73% | ' |
Federal Home Loan Bank advances, Due date | '2015 | ' |
0.99% Advance Due February 2016 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 26,500 | 26,500 |
Federal Home Loan Bank advances, Interest rate | 0.99% | ' |
Federal Home Loan Bank advances, Due date | '2016 | ' |
1.25% Advance Due February 2017 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 25,000 | 25,000 |
Federal Home Loan Bank advances, Interest rate | 1.25% | ' |
Federal Home Loan Bank advances, Due date | '2017 | ' |
3.47% Advance Due November 2017 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 10,000 | 10,000 |
Federal Home Loan Bank advances, Interest rate | 3.47% | ' |
Federal Home Loan Bank advances, Due date | '2017 | ' |
1.49% Advance Due February 2018 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | 95,000 | 95,000 |
Federal Home Loan Bank advances, Interest rate | 1.49% | ' |
Federal Home Loan Bank advances, Due date | '2018 | ' |
4.18% Advance Due February 2022 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch Of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank advances | $25,000 | $25,000 |
Federal Home Loan Bank advances, Interest rate | 4.18% | ' |
Federal Home Loan Bank advances, Due date | '2022 | ' |
Federal_Home_Loan_Bank_Advance3
Federal Home Loan Bank Advances (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 |
Rate | ||
Federal Home Loan Bank, Advances, Activity for Year [Abstract] | ' | ' |
Federal Home Loan Bank advances, Restructured advances | $292.50 | ' |
Federal Home Loan Bank advances, Prepayment fees | 22.4 | ' |
Federal Home Loan Bank advances having varying call dates | ' | 35 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Weighted Average Interest Rate | ' | 1.31% |
Federal Home Loan Bank Advances General Debt Obligations Disclosures Weighted Average Interest Rate Adjusted | ' | 1.22% |
Federal Home Loan Bank advances, Additional borrowings possible | ' | $771.10 |
Subordinated_Notes_Narrative_D
Subordinated Notes (Narrative) (Details) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2012 | Nov. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
subordinated_notes | subordinated_notes | Subordinated Note Due October Twenty Nine Two Thousand And Twelve [Member] | Subordinated Note Due October Twenty Nine Two Thousand And Twelve [Member] | Subordinated Note Due May Twenty Nine Two Thousand And Fifteen [Member] | Subordinated Note Due May Twenty Nine Two Thousand And Fifteen [Member] | Subordinated Note Due May Twenty Nine Two Thousand And Fifteen [Member] | Subordinated Note Due May One Two Thousand And Thirteen [Member] | Subordinated Note Due May One Two Thousand And Thirteen [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual interest rate of subordinated notes | 'One-month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR plus 130 basis points | ' |
Subordinated notes | ' | $0 | $15,000,000 | ' | ' | ' | ' | ' | $15,000,000 | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | 31-May-15 | ' | ' | ' | ' | ' |
Number of subordinated notes remaining | ' | ' | 1 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Issuance Date | ' | ' | ' | ' | ' | 31-Oct-02 | ' | 31-Oct-05 | ' | ' | 30-Apr-03 | ' | ' |
Repayment of subordinated notes | ' | ' | ' | ' | 5,000,000 | ' | 10,000,000 | ' | ' | 10,000,000 | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.30% | ' |
Weighted average contractual interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.61% |
Debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,000 |
Other_Borrowings_Summary_Of_Ot
Other Borrowings (Summary Of Other Borrowings) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 07, 2010 |
In Thousands, unless otherwise specified | ||||
Other Borrowings [Abstract] | ' | ' | ' | ' |
Securities sold under repurchase agreements | $235,347 | $238,401 | ' | ' |
Other | 19,393 | 36,010 | ' | ' |
Secured borrowings - owed to securitization investors | 0 | 0 | 360,800 | ' |
Total other borrowings | $254,740 | $274,411 | ' | ' |
Tangible Equity Unit Components | ' | ' | ' | 2 |
Other_Borrowings_Narrative_Det
Other Borrowings (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 15, 2011 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 15, 2013 | Dec. 07, 2010 | Sep. 30, 2009 | Dec. 31, 2012 |
Master Repurchase Agreements [Member] | Master Repurchase Agreements [Member] | Banks And Brokers [Member] | Banks And Brokers [Member] | Fixed Rate Promissory Note [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities sold under repurchase agreements | $235,347,000 | $238,401,000 | $55,300,000 | $55,000,000 | $180,000,000 | $183,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements | ' | ' | 60,000,000 | ' | 191,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Credit Exposure Repurchase Agreements | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Issuance Date | ' | ' | ' | ' | ' | ' | 31-Aug-12 | ' | 31-Dec-10 | ' | ' | ' | ' | ' |
Other | 19,393,000 | 36,010,000 | ' | ' | ' | ' | 19,300,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Frequency of Periodic Payment | ' | ' | ' | ' | ' | ' | 'monthly | ' | 'quarterly | 'quarterly | ' | ' | ' | ' |
Fixed interest rate | ' | ' | ' | ' | ' | ' | 3.75% | ' | ' | ' | 9.50% | 9.50% | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | 1-Sep-17 | ' | 15-Dec-13 | 15-Dec-13 | ' | ' | ' | ' |
Junior subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,700,000 | ' | ' |
Quarterly principal and interest payments | ' | ' | ' | ' | ' | ' | ' | ' | 4,300,000 | ' | ' | ' | ' | ' |
Debt Instrument, Initial Payment | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | ' | ' | ' | ' | ' | ' |
Instruments issued by the securitization entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000,000 | ' |
Class A notes annual interest rate of one-month LIBOR plus | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.45% | ' |
Amount of the Notes purchased in the open market | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $239,200,000 |
Junior_Subordinated_Debentures2
Junior Subordinated Debentures (Summary of the Company's Junior Subordinated Debentures) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 14, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 15, 2013 | Dec. 07, 2010 |
In Thousands, unless otherwise specified | Wintrust Capital Trust Three [Member] | Wintrust Capital Trust Three [Member] | Wintrust Statutory Trust Four [Member] | Wintrust Statutory Trust Four [Member] | Wintrust Statutory Trust Five [Member] | Wintrust Statutory Trust Five [Member] | Wintrust Capital Trust Seven [Member] | Wintrust Capital Trust Seven [Member] | Wintrust Capital Trust Eight [Member] | Wintrust Capital Trust Eight [Member] | Wintrust Captial Trust Nine [Member] | Wintrust Captial Trust Nine [Member] | Wintrust Captial Trust Nine [Member] | Northview Capital Trust One [Member] | Northview Capital Trust One [Member] | Town Bankshares Capital Trust One [Member] | Town Bankshares Capital Trust One [Member] | First Northwest Capital Trust One [Member] | First Northwest Capital Trust One [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | ||
Rate | Rate | Rate | Rate | Rate | Rate | Rate | Rate | Rate | Rate | ||||||||||||||||
Subordinated Borrowing [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common securities | ' | ' | $774 | ' | $619 | ' | $1,238 | ' | $1,550 | ' | $1,238 | ' | $1,547 | ' | ' | $186 | ' | $186 | ' | $155 | ' | ' | ' | ' | ' |
Trust preferred securities | ' | ' | 25,000 | ' | 20,000 | ' | 40,000 | ' | 50,000 | ' | 40,000 | ' | 50,000 | ' | ' | 6,000 | ' | 6,000 | ' | 5,000 | ' | ' | ' | ' | ' |
Junior subordinated debentures | $249,493 | $249,493 | $25,774 | $25,774 | $20,619 | $20,619 | $41,238 | $41,238 | $51,550 | $51,550 | $41,238 | $41,238 | $51,547 | $51,547 | ' | $6,186 | $6,186 | $6,186 | $6,186 | $5,155 | $5,155 | ' | ' | ' | ' |
Rate structure | ' | ' | 'L+3.25 | ' | 'L+2.80 | ' | 'L+2.60 | ' | 'L+1.95 | ' | 'L+1.45 | ' | 'L+1.63 | ' | ' | 'L+3.00 | ' | 'L+3.00 | ' | 'L+3.00 | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | 3.25% | ' | 2.80% | ' | 2.60% | ' | 1.95% | ' | 1.45% | ' | 1.63% | ' | ' | 3.00% | ' | 3.00% | ' | 3.00% | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 3.49% | ' | 3.05% | ' | 2.85% | ' | 2.19% | ' | 1.70% | ' | 1.87% | ' | 6.84% | 3.24% | ' | 3.24% | ' | 3.25% | ' | ' | ' | 9.50% | 9.50% |
Weighted average interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.43% | ' | ' | ' |
Issue date | ' | ' | 30-Apr-03 | ' | 31-Dec-03 | ' | 31-May-04 | ' | 31-Dec-04 | ' | 31-Aug-05 | ' | 30-Sep-06 | ' | ' | 31-Aug-03 | ' | 31-Aug-03 | ' | 31-May-04 | ' | 31-Dec-10 | ' | ' | ' |
Maturity date | ' | ' | 30-Apr-33 | ' | 31-Dec-33 | ' | 31-May-34 | ' | 31-Mar-35 | ' | 30-Sep-35 | ' | 30-Sep-36 | ' | ' | 30-Nov-33 | ' | 30-Nov-33 | ' | 31-May-34 | ' | 15-Dec-13 | 15-Dec-13 | ' | ' |
Debt Instrument, Redemption Period, Start Date | ' | ' | 30-Apr-08 | ' | 31-Dec-08 | ' | 30-Jun-09 | ' | 31-Mar-10 | ' | 30-Sep-10 | ' | 30-Sep-11 | ' | ' | 31-Aug-08 | ' | 31-Aug-08 | ' | 31-May-09 | ' | ' | ' | ' | ' |
Junior_Subordinated_Debentures3
Junior Subordinated Debentures (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 14, 2011 | Dec. 31, 2013 | Dec. 15, 2013 | Dec. 07, 2010 | Jun. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | Wintrust Captial Trust Nine [Member] | Wintrust Captial Trust Nine [Member] | Wintrust Captial Trust Nine [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Forward Starting Interest Rate Cap [Member] | Interest Rate Swap [Member] | ||
Rate | Rate | |||||||||
Subordinated Borrowing [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage ownership interest in subsidiary trusts | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common securities, approximate percentage of junior subordinated debentures | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust preferred securities, approximate percentage of junior subordinated debentures | 97.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Junior subordinated debentures | $249,493 | $249,493 | $51,547 | $51,547 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 1.87% | ' | 6.84% | ' | 9.50% | 9.50% | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | 1.63% | ' | ' | ' | ' | ' | ' | ' |
Interest rate on junior subordinated debentures | ' | ' | ' | ' | ' | 2.43% | ' | ' | ' | ' |
Interest rate swaps to hedge variable cash flows | $225,000 | ' | ' | ' | ' | ' | ' | ' | $90,000 | ' |
Number of Derivative Contracts | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 |
Derivative, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Sep-13 |
Debt, Hedge Adjusted Weighted Average Interest Rate | 3.21% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consecutive quarters of deferred payment | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum_Lease_Commitments_Appr
Minimum Lease Commitments (Approximate Minimum Annual Gross Rental Payments And Gross Rental Income) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Leases [Abstract] | ' |
2014 - Payments | $5,112 |
2015 - Payments | 5,180 |
2016 - Payments | 4,852 |
2017 - Payments | 4,343 |
2018 - Payments | 3,693 |
2019 and thereafter - Payments | 9,851 |
Total minimum future amounts - Payments | 33,031 |
2014 - Income | 5,089 |
2015 - Income | 4,941 |
2016 - Income | 4,248 |
2017 - Income | 3,636 |
2018 - Income | 3,025 |
2019 and thereafter - Income | 4,330 |
Total minimum future amounts - Income | $25,269 |
Minimum_Lease_Commitments_Narr
Minimum Lease Commitments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense, Net | $9.10 | $7.90 | $7.90 |
Operating Leases, Income Statement, Lease Revenue | $7 | $4.70 | $3.80 |
Income_Taxes_Income_Tax_Expens
Income Taxes (Income Tax Expense (Benefit)) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | $67,449 | $74,109 | $40,312 |
State | ' | ' | ' | ' | ' | ' | ' | ' | 16,046 | 16,224 | 10,785 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 2,196 | 1,918 | 0 |
Total current income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 85,691 | 92,251 | 51,097 |
Deferred income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | 1,813 | -19,550 | -555 |
State | ' | ' | ' | ' | ' | ' | ' | ' | -114 | -4,206 | -84 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | -160 | 441 | 0 |
Total deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1,539 | -23,315 | -639 |
Total income tax expense | $22,534 | $22,519 | $21,943 | $20,234 | $18,782 | $19,871 | $15,734 | $14,549 | $87,230 | $68,936 | $50,458 |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of the Differences Between Taxes Computed Using the Statutory Federal Income Tax Rate and Actual Income Tax Expense) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax expense based upon the Federal statutory rate on income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | $78,554 | $63,046 | $44,812 |
Increase (decrease) in tax resulting from: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax-exempt interest, net of interest expense disallowance | ' | ' | ' | ' | ' | ' | ' | ' | -1,423 | -1,294 | -1,139 |
State taxes, net of federal tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 10,355 | 7,811 | 6,955 |
Income earned on bank owned life insurance | ' | ' | ' | ' | ' | ' | ' | ' | -1,157 | -974 | -854 |
Non-deductible compensation costs | ' | ' | ' | ' | ' | ' | ' | ' | 654 | 1,156 | 644 |
Meals, entertainment and related expenses | ' | ' | ' | ' | ' | ' | ' | ' | 993 | 931 | 802 |
Foreign subsidiary, net | ' | ' | ' | ' | ' | ' | ' | ' | 588 | 1,991 | 0 |
Foreign tax credits | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -2,177 | 0 |
Tax credits | ' | ' | ' | ' | ' | ' | ' | ' | -1,553 | -1,906 | -562 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 219 | 352 | -200 |
Total income tax expense | $22,534 | $22,519 | $21,943 | $20,234 | $18,782 | $19,871 | $15,734 | $14,549 | $87,230 | $68,936 | $50,458 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes (Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowance for credit losses | $37,525 | $42,480 |
Net unrealized losses on derivatives included in other comprehensive income | 1,574 | 3,442 |
Net unrealized losses on securities included in other comprehensive income | 35,216 | 0 |
Deferred compensation | 16,089 | 7,453 |
Stock-based compensation | 10,340 | 11,333 |
Nonaccrued interest | 1,895 | 3,053 |
Other real estate owned | 6,405 | 9,193 |
Mortgage banking recourse obligation | 1,503 | 1,706 |
Covered assets | 13,616 | 7,527 |
Pension plan liabilities | 1,035 | 916 |
Federal net operating loss carryforward | 2,452 | 0 |
AMT credt carryforward | 1,346 | 345 |
State tax losses carryforward | 3,294 | 130 |
Foreign tax credit carryfoward | 0 | 1,042 |
Other | 2,149 | 2,072 |
Total gross deferred tax assets | 134,439 | 90,692 |
Deferred tax liabilities: | ' | ' |
Discount on purchased loans | 5,718 | 27,458 |
Premises and equipment | 36,847 | 29,725 |
Goodwill and intangible assets | 1,683 | 338 |
Deferred loan fees and costs | 4,533 | 4,487 |
FHLB stock dividends | 1,431 | 1,610 |
Capitalized servicing rights | 3,547 | 2,670 |
Net unrealized gains on securities included in other comprehensive income | 0 | 4,336 |
Fair value adjustments on loans | 6,947 | 6,634 |
Other | 3,606 | 2,680 |
Total gross deferred liabilities | 64,312 | 79,938 |
Valuation allowance | 0 | 1,042 |
Net deferred tax assets | $70,127 | $9,712 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Tax benefits from stock-based compensation arrangements | $831,000 | ($1,392,000) | ($129,000) |
Statutory federal income tax rate | 35.00% | ' | ' |
AMT credt carryforward | 1,346,000 | 345,000 | ' |
Unrecognized Tax Benefits | 0 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 7,000,000 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | $53,300,000 | ' | ' |
Stock_Compensation_Plans_and_O2
Stock Compensation Plans and Other Employee Benefit Plans (Weighted Average Assumptions Used To Determine The Options Fair Value) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation [Abstract] | ' | ' | ' |
Expected dividend yield | 0.50% | 0.60% | 0.50% |
Expected volatility | 59.00% | 62.60% | 61.80% |
Risk-free rate | 1.00% | 0.70% | 1.00% |
Expected option life (in years) | '4 years 6 months | '4 years 6 months | '4 years 4 months 24 days |
Stock_Compensation_Plans_and_O3
Stock Compensation Plans and Other Employee Benefit Plans Stock Compensation Plans and Other Employee Benefit Plans (Summary of Stock Option Activity) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Stock Options Outstanding [Roll Forward] | ' | ' | ' | |||
Outstanding at beginning of the period | 1,745,427 | 2,064,534 | 2,040,701 | |||
Granted | 236,120 | 250,997 | 221,003 | |||
Exercised | -371,826 | -484,709 | -85,706 | |||
Forfeited or canceled | -85,049 | -85,395 | -111,464 | |||
Outstanding at end of the period | 1,524,672 | 1,745,427 | 2,064,534 | |||
Exercisable | 1,097,836 | 1,346,287 | 1,779,218 | |||
Vested or expected to vest | 1,522,161 | ' | ' | |||
Stock Options, Weighted Average Strike Price [Roll Forward] | ' | ' | ' | |||
Outstanding at beginning of the period | $42.31 | $38.83 | $38.92 | |||
Granted | $38.01 | $31.16 | $33.15 | |||
Exercised | $40.46 | $21.43 | $17.20 | |||
Forfeited or canceled | $44.12 | $43.70 | $46.01 | |||
Outstanding at end of the period | $42 | $42.31 | $38.83 | |||
Exercisable | $44.82 | $45.57 | $39.93 | |||
Vested or expected to vest | $42.02 | ' | ' | |||
Stock Options Additional Disclosures | ' | ' | ' | |||
Outstanding, Remaining Contractual Term | '2 years 7 months 6 days | [1] | '3 years 1 month 6 days | [1] | '2 years 8 months 12 days | [1] |
Outstanding, Intrinsic Value | $11,021 | [2] | $3,836 | [2] | $3,809 | [2] |
Exercisable, Remaining Contractual Term | '1 year 6 months | [1] | '2 years 3 months 18 days | [1] | '2 years 3 months 18 days | [1] |
Exercisable, Intrinsic Value | $6,165 | [2] | $1,677 | [2] | $3,558 | [2] |
[1] | Represents the weighted average contractual remaining life in years. | |||||
[2] | Aggregate intrinsic value represents the total pretax intrinsic value (i.e., the difference between the Companybs stock price at year end and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the year. Options with exercise prices above the year end stock price are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Companybs stock. |
Stock_Compensation_Plans_and_O4
Stock Compensation Plans and Other Employee Benefit Plans Stock Compensation Plans and Other Employee Benefit Plans (Summary of Plans' Restricted Share Award Activity) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock [Member] | ' | ' | ' |
Non-Option Equity Instruments Outstanding [Roll Forward] | ' | ' | ' |
Outstanding at the beginning of period | 314,226 | 336,709 | 299,040 |
Granted | 16,932 | 111,207 | 98,394 |
Vested and issued | -144,860 | -132,337 | -56,641 |
Forfeited | -4,776 | -1,353 | -4,084 |
Outstanding at the end of period | 181,522 | 314,226 | 336,709 |
Non-Options Equity Instruments Outstanding, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Outstanding at beginning of the period | $37.99 | $38.29 | $39.44 |
Granted | $42.14 | $32.37 | $32.85 |
Vested and issued | $31.83 | $34.12 | $35.17 |
Forfeited | $33.93 | $30.99 | $34.73 |
Outstanding at end of the period | $43.39 | $37.99 | $38.29 |
Vested, but not issuable, Common Shares | 85,000 | 85,000 | 85,000 |
Vested, but not issuable, Weighted Average Grant-Date Fair Value | $51.88 | $51.88 | $51.88 |
Performance Shares [Member] | ' | ' | ' |
Non-Option Equity Instruments Outstanding [Roll Forward] | ' | ' | ' |
Outstanding at the beginning of period | 153,915 | 72,158 | 0 |
Granted | 106,268 | 119,476 | 100,993 |
Vested and issued | 0 | 0 | 0 |
Net decrease due to estimated performance | -106,005 | -33,147 | -28,062 |
Forfeited | -10,322 | -4,572 | -773 |
Outstanding at the end of period | 143,856 | 153,915 | 72,158 |
Non-Options Equity Instruments Outstanding, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Outstanding at beginning of the period | $31.78 | $33.25 | $0 |
Granted | $37.90 | $31.10 | $33.25 |
Vested and issued | $0 | $0 | $0 |
Net decrease due to estimated performance | $34.17 | $32.50 | $33.25 |
Forfeited | $34.19 | $31.98 | $33.28 |
Outstanding at end of the period | $34.37 | $31.78 | $33.25 |
Stock_Compensation_Plans_and_O5
Stock Compensation Plans and Other Employee Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-12 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-11 | 31-May-09 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Rate | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Minimum [Member] | HPK Financial Corporation [Member] | Diamond | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Two Thousand And Seven Plan [Member] | Nineteen Ninety Seven Plan [Member] | Cash Incentive And Retention Plan [Member] | Cash Incentive And Retention Plan [Member] | Cash Incentive And Retention Plan [Member] | Cash Incentive And Retention Plan [Member] | Directors Deferred Fee And Stock Plan [Member] | Directors Deferred Fee And Stock Plan [Member] | Directors Deferred Fee And Stock Plan [Member] | ||||
Rate | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Ltip Awards [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Performance Shares [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Employee Stock Option [Member] | ||||||||||||||||||||||
Employee Stock Option [Member] | Ltip Awards [Member] | Restricted Stock [Member] | Performance Shares [Member] | Employee Stock Option [Member] | Ltip Awards [Member] | Restricted Stock [Member] | Performance Shares [Member] | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Additionally Authorized | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,860,000 | 325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 752,491 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66,282 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | '3 years | ' | '1 year | ' | '5 years | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation By Share Based Payment Award Options Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Performance Based Award Payouts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | 0.00% | ' | 0.00% | ' | 200.00% | ' | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $6,700,000 | $9,100,000 | $5,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 2,500,000 | 3,300,000 | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 329,000 | 15,000 | -72,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $17.49 | $15 | $15.84 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 1,200,000 | 5,400,000 | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | 485,000 | 2,100,000 | 468,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 15,000,000 | 10,400,000 | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of shares that could be issued based on the grants made to date | ' | ' | ' | ' | 181,522 | 314,226 | 336,709 | 299,040 | 143,856 | 153,915 | 72,158 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 615,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value per share of options granted (in usd per share) | ' | ' | ' | ' | $42.14 | $32.37 | $32.85 | ' | $37.90 | $31.10 | $33.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares granted to certain executives | ' | ' | ' | ' | 16,932 | 111,207 | 98,394 | ' | 106,268 | 119,476 | 100,993 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 8,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | 7,400,000 | 6,400,000 | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000 | 357,000 | 295,000 | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Distributions Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,200,000 | ' | 473,000 | ' | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | 4,900,000 | 4,300,000 | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Percent of Purchased Price to Fair Market Value Per Share | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP | 62,096 | 66,237 | 71,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Compensation Expense | 355,000 | 421,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares | 13,012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Shares in ESOP | 259,020 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Number Of Participants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | 35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Benefit Obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,700,000 | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,900,000 | $2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Shares Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,547 | 22,220 | 25,242 |
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 251,523 | ' | ' |
Regulatory_Matters_Schedule_of
Regulatory Matters (Schedule of Compliance with Minimum Capital Requirements) (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Capital Requirements [Abstract] | ' | ' |
Total Capital to Risk Weighted Assets | 12.90% | 13.10% |
Tier 1 Capital to Risk Weighted Assets | 12.20% | 12.10% |
Tier 1 Leverage Ratio | 10.50% | 10.00% |
Regulatory_Matters_Schedule_of1
Regulatory Matters (Schedule of Actual Capital Amounts and Ratios) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Ratio | 12.90% | 13.10% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | ' |
Tier 1 Capital to Risk Weighted Assets, Ratio | 12.20% | 12.10% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | ' |
Tier 1 Leverage Ratio | 10.50% | 10.00% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | ' |
Lake Forest Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 236,055 | 226,234 |
Total Capital to Risk Weighted Assets, Ratio | 11.70% | 11.00% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 202,443 | 205,188 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 222,577 | 209,699 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 11.00% | 10.20% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 121,466 | 123,113 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 222,577 | 209,699 |
Tier 1 Leverage Ratio | 9.60% | 8.80% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 116,340 | 119,601 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Hinsdale Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 152,266 | 154,677 |
Total Capital to Risk Weighted Assets, Ratio | 11.40% | 12.20% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 134,106 | 126,837 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 144,196 | 145,380 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.80% | 11.50% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 80,463 | 76,102 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 144,196 | 145,380 |
Tier 1 Leverage Ratio | 9.50% | 8.70% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 75,822 | 83,238 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
North Shore Community Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 232,454 | 202,823 |
Total Capital to Risk Weighted Assets, Ratio | 11.60% | 11.50% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 200,806 | 176,124 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 162,903 | 145,488 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 8.10% | 8.30% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 120,484 | 105,675 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 162,903 | 145,488 |
Tier 1 Leverage Ratio | 7.20% | 7.20% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 113,580 | 101,553 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Libertyville Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 111,396 | 116,818 |
Total Capital to Risk Weighted Assets, Ratio | 11.40% | 11.90% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 97,777 | 97,880 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 103,895 | 105,251 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.60% | 10.80% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 58,666 | 58,728 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 103,895 | 105,251 |
Tier 1 Leverage Ratio | 9.20% | 8.90% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 56,703 | 59,379 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Barrington Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 128,924 | 148,382 |
Total Capital to Risk Weighted Assets, Ratio | 11.00% | 13.50% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 117,103 | 109,526 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 122,664 | 140,037 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.50% | 12.80% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 70,262 | 65,716 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 122,664 | 140,037 |
Tier 1 Leverage Ratio | 8.90% | 9.70% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 69,270 | 72,531 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Crystal Lake Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 85,922 | 84,310 |
Total Capital to Risk Weighted Assets, Ratio | 13.00% | 14.50% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 66,066 | 58,091 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 79,878 | 77,962 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 12.10% | 13.40% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 39,640 | 34,855 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 79,878 | 77,962 |
Tier 1 Leverage Ratio | 10.20% | 10.30% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 39,108 | 37,971 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Northbrook Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 142,512 | 139,603 |
Total Capital to Risk Weighted Assets, Ratio | 11.00% | 12.20% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 130,208 | 114,057 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 131,591 | 125,192 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.10% | 11.00% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 78,125 | 68,434 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 131,591 | 125,192 |
Tier 1 Leverage Ratio | 8.10% | 7.50% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 80,876 | 83,244 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Schaumburg Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 70,728 | 68,305 |
Total Capital to Risk Weighted Assets, Ratio | 11.40% | 11.80% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 62,130 | 57,946 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 64,263 | 62,538 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.30% | 10.80% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 37,278 | 34,768 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 64,263 | 62,538 |
Tier 1 Leverage Ratio | 9.00% | 8.70% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 35,571 | 36,061 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Village Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 95,359 | 92,787 |
Total Capital to Risk Weighted Assets, Ratio | 11.00% | 11.50% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 86,435 | 80,441 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 88,961 | 86,435 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.30% | 10.70% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 51,861 | 48,265 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 88,961 | 86,435 |
Tier 1 Leverage Ratio | 9.40% | 9.00% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 47,549 | 48,068 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Beverly Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 70,754 | 61,994 |
Total Capital to Risk Weighted Assets, Ratio | 11.20% | 11.10% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 63,251 | 55,697 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 65,385 | 59,440 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.30% | 10.70% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 37,951 | 33,418 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 65,385 | 59,440 |
Tier 1 Leverage Ratio | 8.80% | 12.30% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 37,281 | 24,127 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Town Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 85,647 | 83,144 |
Total Capital to Risk Weighted Assets, Ratio | 11.20% | 11.50% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 76,234 | 72,373 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 79,843 | 76,824 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.50% | 10.60% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 45,741 | 43,424 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 79,843 | 76,824 |
Tier 1 Leverage Ratio | 9.50% | 9.40% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 42,164 | 40,671 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Wheaton Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 77,177 | 71,097 |
Total Capital to Risk Weighted Assets, Ratio | 13.00% | 13.60% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 59,354 | 52,450 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 69,730 | 64,509 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 11.80% | 12.30% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 35,613 | 31,470 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 69,730 | 64,509 |
Tier 1 Leverage Ratio | 9.30% | 8.90% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 37,498 | 36,205 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
State Bank Of The Lakes [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 73,248 | 71,178 |
Total Capital to Risk Weighted Assets, Ratio | 11.90% | 11.50% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 61,698 | 61,886 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 68,399 | 61,521 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 11.10% | 9.90% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 37,019 | 37,131 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 68,399 | 61,521 |
Tier 1 Leverage Ratio | 9.80% | 8.40% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 34,784 | 36,570 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Old Plank Trail Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 96,495 | 74,445 |
Total Capital to Risk Weighted Assets, Ratio | 12.70% | 14.70% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 75,834 | 50,582 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 92,694 | 66,170 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 12.20% | 13.10% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 45,500 | 30,349 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 92,694 | 66,170 |
Tier 1 Leverage Ratio | 8.70% | 8.90% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 53,603 | 37,380 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
St. Charles Bank [Member] | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' |
Total Capital to Risk Weighted Assets, Amount | 71,170 | 66,079 |
Total Capital to Risk Weighted Assets, Ratio | 11.40% | 11.30% |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 62,669 | 58,341 |
Total Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Amount | 64,922 | 60,753 |
Tier 1 Capital to Risk Weighted Assets, Ratio | 10.40% | 10.40% |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Amount | 37,601 | 35,004 |
Tier 1 Capital to Risk Weighted Assets, To Be Well Capitalized by Regulatory Definition, Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio, Amount | 64,922 | 60,753 |
Tier 1 Leverage Ratio | 9.60% | 9.40% |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Amount | 33,975 | 32,170 |
Tier 1 Leverage Ratio, To Be Well Capitalized by Regulatory Definition, Ratio | 5.00% | 5.00% |
Regulatory_Matters_Narrative_D
Regulatory Matters (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' | ' |
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $112.80 | $45 | $27.80 |
Amount available to be paid as dividends without prior regulatory approval | 147.4 | ' | ' |
Reserve balances required to be maintained at the Federal Reserve Bank | $213.20 | $160.20 | ' |
Minimum ratio of qualifying total capital to risk-weighted assets | 8.00% | ' | ' |
Tier 1 minimum ratio of qualifying total capital to risk-weighted assets | 4.00% | ' | ' |
Tier 1 capital to total assets | 10.50% | 10.00% | ' |
Ratios required for the banks to be well capitalized, Total Capital to Risk-Weighted Assets | 10.00% | ' | ' |
Ratios required for the banks to be well capitalized, Tier1 Capital to Risk-Weighted Assets | 6.00% | ' | ' |
Ratios required for the banks to be well capitalized, Tier 1 Leverage Ratio | 5.00% | ' | ' |
Strong Bank Holding Companies [Member] | ' | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' | ' |
Tier 1 capital to total assets | 3.00% | ' | ' |
Other Banking Holding Companies [Member] | ' | ' | ' |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ' | ' | ' |
Tier 1 capital to total assets | 4.00% | ' | ' |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Commitments And Contingencies [Line Items] | ' | ' |
Letters of credit outstanding, amount | $166,200,000 | $174,300,000 |
Derivative, Notional Amount | 225,000,000 | ' |
Mortgage loans sold | 3,700,000,000 | 3,900,000,000 |
Additional amount related to loss indemnification claims for residential mortgage loans previously sold to investors | 3,800,000 | 4,300,000 |
Losses charged against indemnification liability | 327,000 | 284,000 |
Customer balances maintained by clearing broker and subject to indemnification | 29,900,000 | ' |
Interest Rate Lock Commitments [Member] | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' |
Derivative, Notional Amount | 194,300,000 | 457,700,000 |
Forward Commitments to Sell Mortgage Loans [Member] | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' |
Derivative, Notional Amount | 472,100,000 | 858,100,000 |
Commercial, Commercial Real Estate And Construction Loans [Member] | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' |
Loans and Leases Receivable, Commitments, Fixed Rates | 2,700,000,000 | 2,600,000,000 |
Home Equity Loan [Member] | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' |
Loans and Leases Receivable, Commitments, Fixed Rates | $747,100,000 | $750,900,000 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments Derivative Financial Instruments (Interest Rate Cap Derivative Summary) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | $225,000 |
Interest Rate Cap Twenty Million Notional September Two Thousand Fourteen Maturity [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 20,000 |
Interest Rate Derivatives, at Fair Value, Net | 0 |
Interest Rate Cap Forty Million Notional September Two Thousand Fourteen Maturity [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 40,000 |
Interest Rate Derivatives, at Fair Value, Net | 0 |
Interest Rate Cap Seventy Seven Million Notional May Two Thousand Fifteen Maturity [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 77,000 |
Interest Rate Derivatives, at Fair Value, Net | 3 |
Interest Rate Cap Two Hundred Fifteen Million Notional May Two Thousand Sixteen Maturity [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 215,000 |
Interest Rate Derivatives, at Fair Value, Net | 532 |
Interest Rate Cap Ninety Six Million Five Hundred Thirty Thousand Notional April Two Thousand Fifteen Maturity [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 96,530 |
Interest Rate Derivatives, at Fair Value, Net | 2 |
Interest Rate Cap Two Hundred Sixteen Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 216,500 |
Interest Rate Derivatives, at Fair Value, Net | 979 |
Interest Rate Cap One Hundred Million Notional August Two Thousand Sixteen Maturity [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 100,000 |
Interest Rate Derivatives, at Fair Value, Net | 526 |
Interest Rate Cap One Hundred Million Notional March Two Thousand Seventeen Maturity [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 100,000 |
Interest Rate Derivatives, at Fair Value, Net | 1,158 |
Interest Rate Cap Seventy Five Million Notional November Two Thousand Sixteen Maturity [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 75,000 |
Interest Rate Derivatives, at Fair Value, Net | 558 |
Interest Rate Cap Fifty Million Notional September Two Thousand Seventeen Maturity [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 50,000 |
Interest Rate Derivatives, at Fair Value, Net | 970 |
Interest Rate Cap Forty Million Notional September Two Thousand Seventeen Maturity [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 40,000 |
Interest Rate Derivatives, at Fair Value, Net | 806 |
Total Interest Rate Cap [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 1,030,030 |
Interest Rate Derivatives, at Fair Value, Net | 5,534 |
Total Interest Rate Cap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' |
Interest Rate Cap Derivative Summary [Line Items] | ' |
Derivative, Notional Amount | 150,000 |
Interest Rate Derivatives, at Fair Value, Net | $1,776 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Schedule of Fair Value of Derivative Financial Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Derivative Assets | $37,956 | $47,546 |
Derivative Liabilities | 34,807 | 53,755 |
Other Assets [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 48,221 | 53,906 |
Other Assets [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 1,883 | 106 |
Other Assets [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 46,338 | 53,800 |
Other Assets [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Interest Rate Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 36,073 | 47,440 |
Other Assets [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Interest Rate Lock Commitments [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 7,500 | 6,069 |
Other Assets [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Forward Commitments to Sell Mortgage Loans [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 2,761 | 277 |
Other Assets [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Foreign Exchange Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 4 | 14 |
Other Liabilities [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 37,264 | 57,751 |
Other Liabilities [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 3,161 | 7,988 |
Other Liabilities [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 34,103 | 49,763 |
Other Liabilities [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Interest Rate Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 31,646 | 45,767 |
Other Liabilities [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Interest Rate Lock Commitments [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 147 | 937 |
Other Liabilities [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Forward Commitments to Sell Mortgage Loans [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 2,310 | 3,057 |
Other Liabilities [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Foreign Exchange Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 0 | 2 |
Cash Flow Hedging [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member] | Interest Rate Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 1,776 | 2 |
Cash Flow Hedging [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | 3,160 | 7,988 |
Fair Value Hedging [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member] | Interest Rate Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Assets | 107 | 104 |
Fair Value Hedging [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liabilities | $1 | $0 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Schedule of Cash Flow Hedging Derivatives) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Derivative [Line Items] | ' |
Derivative, Notional Amount | $225,000 |
Total Interest Rate Cap [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | 5,534 |
Derivative, Notional Amount | 1,030,030 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swaps And Caps [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | -1,384 |
Derivative, Notional Amount | 225,000 |
Cash Flow Hedging [Member] | Interest Rate Swap Fifty Million Notional September Two Thousand Sixteen Maturity [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | -2,083 |
Derivative, Notional Amount | 50,000 |
Cash Flow Hedging [Member] | Interest Rate Swap Twenty Five Million Notional October Two Thousand Sixteen Maturity [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | -1,077 |
Derivative, Notional Amount | 25,000 |
Cash Flow Hedging [Member] | Total Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | -3,160 |
Derivative, Notional Amount | 75,000 |
Cash Flow Hedging [Member] | Interest Rate Cap Twenty Million Notional September Two Thousand Fourteen Maturity [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | 0 |
Derivative, Notional Amount | 20,000 |
Cash Flow Hedging [Member] | Interest Rate Cap Forty Million Notional September Two Thousand Fourteen Maturity [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | 0 |
Derivative, Notional Amount | 40,000 |
Cash Flow Hedging [Member] | Interest Rate Cap Fifty Million Notional September Two Thousand Seventeen Maturity [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | 970 |
Derivative, Notional Amount | 50,000 |
Cash Flow Hedging [Member] | Interest Rate Cap Forty Million Notional September Two Thousand Seventeen Maturity [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | 806 |
Derivative, Notional Amount | 40,000 |
Cash Flow Hedging [Member] | Total Interest Rate Cap [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Fair Value Gain (Loss) | 1,776 |
Derivative, Notional Amount | $150,000 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Rollforward of Amounts in Accumulated Other Comprehensive Income Related to Interest Rate Swaps Designated as Cash Flow Hedges) (Details) (Interest Rate Contract [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Rate Contract [Member] | ' | ' |
Rollforward of AOCI from Cash Flow Hedging Derivatives [Roll Forward] | ' | ' |
Unrealized loss at beginning of period | ($8,673) | ($11,633) |
Amount reclassified from accumulated other comprehensive income to interest expense on junior subordinated debentures | 5,115 | 5,850 |
Amount of loss recognized in other comprehensive income | -413 | -2,890 |
Unrealized loss at end of period | ($3,971) | ($8,673) |
Derivative_Financial_Instrumen6
Derivative Financial Instruments (Derivatives Used to Hedge Changes in Fair Value Attributable to Interest Rate Risk) (Details) (Fair Value Hedging [Member], Designated as Hedging Instrument [Member], Interest Rate Contract [Member], USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | $67,000 | ($480,000) |
Amount of Gain or (Loss) Recognized in Income on Hedged Item | -55,000 | 535,000 |
Income Statement Gain/(Loss) due to Hedge Ineffectiveness | $12,000 | $55,000 |
Derivative_Financial_Instrumen7
Derivative Financial Instruments Derivative Financial Instruments (Summary Amounts Included in Consolidated Statement of Income Related to Derivatives) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Rate Swaps And Caps [Member] | Other Income [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Income related to derivative instruments not designated in hedge relationships | $853 | ($1,974) |
Mortgage Banking Derivatives [Member] | Mortgage Banking Revenue [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Income related to derivative instruments not designated in hedge relationships | 6,026 | 1,659 |
Call Options Written [Member] | Fees From Covered Call Options [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Income related to derivative instruments not designated in hedge relationships | 4,773 | 10,476 |
Foreign Exchange Contract [Member] | Other Income [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Income related to derivative instruments not designated in hedge relationships | ($11) | $12 |
Derivative_Financial_Instrumen8
Derivative Financial Instruments Derivative Financial Instruments (Derivative Asset and Liability Balance Sheet Offsetting) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
Derivative Asset [Abstract] | ' | ' | ||
Derivative, Collateral, Obligation to Return Securities | $0 | [1] | $0 | [1] |
Derivative Asset, Fair Value, Gross Asset | 37,956,000 | 47,546,000 | ||
Derivative Asset, Fair Value, Gross Liability | 0 | 0 | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 37,956,000 | 47,546,000 | ||
Derivative Asset, Fair Value, Gross Liability Not Offset in the Statement of Financial Condition | -8,826,000 | -339,000 | ||
Derivative, Collateral, Obligation to Return Cash | 0 | 0 | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 29,130,000 | 47,207,000 | ||
Derivative Liability [Abstract] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 34,807,000 | 53,755,000 | ||
Derivative Liability, Fair Value, Gross Asset | 0 | 0 | ||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 34,807,000 | 53,755,000 | ||
Derivative Liability, Fair Value, Gross Asset Not Offset in the Statement of Financial Condition | -8,826,000 | -339,000 | ||
Derivative, Collateral, Right to Reclaim Securities | -25,981,000 | [1] | -46,811,000 | [1] |
Derivative, Collateral, Right to Reclaim Cash | 0 | -6,605,000 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 0 | 0 | ||
Security Owned and Pledged as Collateral, Fair Value | $34,600,000 | $49,900,000 | ||
[1] | (1) As of December 31, 2013 and 2012, the Company posted securities collateral of $34.6 million and $49.9 million, respectively which resulted in excess collateral with its counterparties. For purposes of this disclosure, the amount of posted collateral is limited to the amount offsetting the derivative liability. |
Derivative_Financial_Instrumen9
Derivative Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Interest Rate Swap [Member] | Forward Commitments to Sell Mortgage Loans [Member] | Forward Commitments to Sell Mortgage Loans [Member] | Interest Rate Lock Commitments [Member] | Interest Rate Lock Commitments [Member] | Foreign Exchange Contract [Member] | Call Options Written [Member] | Call Options Written [Member] | De-designated Hedge [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Derivatives Not Designed as Hedging Instruments Under ASC 815 [Member] | Minimum [Member] | Maximum [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | ||
derivative_instruments | derivative_instruments | Interest Rate Caps [Member] | Interest Rate Caps [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | ||||||||||
contracts | Interest Rate Swap [Member] | Interest Rate Caps [Member] | Interest Rate Swaps And Caps [Member] | Interest Rate Swap [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | ||||||||||||||
derivative_instruments | derivative_instruments | derivative_instruments | ||||||||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of interest rate derivatives held | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | 7 | ' | ' | ' | 2 | 4 | ' | 3 | ' | ' |
Derivative, Notional Amount | $225,000,000 | ' | $472,100,000 | $858,100,000 | $194,300,000 | $457,700,000 | $1,000,000 | ' | ' | $96,500,000 | $880,000,000 | $2,800,000,000 | ' | ' | ' | ' | $225,000,000 | $6,100,000 | ' | ' |
Amount reclassified from accumulated other comprehensive income to interest expense | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of derivatives, hedge ineffectiveness | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | 55,000 |
Fair value hedges recognized net reduction to interest income | 28,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis Amortization of Hedged item no longer in a Hedging Relationship | 192,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Lower Remaining Maturity Range | ' | 30-Sep-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28-Feb-14 | 31-Jan-33 | ' | ' | ' | ' | ' | ' |
Mortgage loans held-for-sale | 334,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Net Liability Position, Aggregate Fair Value | $23,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Assets_and_Liabi2
Fair Value of Assets and Liabilities (Summary of Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $2,176,290 | $1,796,076 |
Trading account securities | 497 | 583 |
Derivative assets | 37,956 | 47,546 |
Derivative liabilities | 34,807 | 53,755 |
U.S. Treasury [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 336,095 | 219,487 |
U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 895,688 | 990,039 |
Municipal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 152,716 | 110,471 |
Asset-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 605,225 | 271,574 |
Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 51,528 | 49,699 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account securities | 497 | 583 |
Mortgage loans held-for-sale | 332,485 | 385,033 |
Mortgage servicing rights | 8,946 | 6,750 |
Nonqualified deferred compensation assets | 7,222 | 5,532 |
Derivative assets | 48,221 | 53,906 |
Total | 2,573,661 | 2,247,880 |
Derivative liabilities | 37,264 | 57,751 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account securities | 0 | 0 |
Mortgage loans held-for-sale | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Nonqualified deferred compensation assets | 0 | 0 |
Derivative assets | 0 | 0 |
Total | 0 | 0 |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account securities | 497 | 583 |
Mortgage loans held-for-sale | 332,485 | 385,033 |
Mortgage servicing rights | 0 | 0 |
Nonqualified deferred compensation assets | 7,222 | 5,532 |
Derivative assets | 48,221 | 53,906 |
Total | 2,506,166 | 2,188,191 |
Derivative liabilities | 37,264 | 57,751 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account securities | 0 | 0 |
Mortgage loans held-for-sale | 0 | 0 |
Mortgage servicing rights | 8,946 | 6,750 |
Nonqualified deferred compensation assets | 0 | 0 |
Derivative assets | 0 | 0 |
Total | 67,495 | 59,689 |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 336,095 | 219,487 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 336,095 | 219,487 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 895,688 | 990,039 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 895,688 | 990,039 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 152,716 | 110,471 |
Fair Value, Measurements, Recurring [Member] | Municipal [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 116,330 | 79,701 |
Fair Value, Measurements, Recurring [Member] | Municipal [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 36,386 | 30,770 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 135,038 | 154,806 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 135,038 | 154,806 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 605,225 | 271,574 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 605,225 | 271,574 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 51,528 | 49,699 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 29,365 | 27,530 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $22,163 | $22,169 |
Fair_Value_of_Assets_and_Liabi3
Fair Value of Assets and Liabilities (Summary of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Mortgage Servicing Rights [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Beginning Balance | $6,750 | $6,700 | ||
Total net gains (losses) included in Net income | 2,196 | [1] | 50 | [1] |
Total net gains (losses) included in Other comprehensive income | 0 | 0 | ||
Purchases | 0 | 0 | ||
Issuances | 0 | 0 | ||
Sales | 0 | 0 | ||
Settlements | 0 | 0 | ||
Net transfers into (out of) Level 3 | 0 | 0 | [2] | |
Ending Balance | 8,946 | 6,750 | ||
Municipal Bonds [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Beginning Balance | 30,770 | 24,211 | ||
Total net gains (losses) included in Net income | 0 | [1] | 0 | [1] |
Total net gains (losses) included in Other comprehensive income | -296 | 27 | ||
Purchases | 22,209 | 20,967 | ||
Issuances | 0 | 0 | ||
Sales | 0 | 0 | ||
Settlements | -16,297 | -12,033 | ||
Net transfers into (out of) Level 3 | 0 | -2,402 | [2] | |
Ending Balance | 36,386 | 30,770 | ||
Equity Securities [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Beginning Balance | 22,169 | 18,971 | ||
Total net gains (losses) included in Net income | -3,328 | [1] | 0 | [1] |
Total net gains (losses) included in Other comprehensive income | 3,322 | 3,198 | ||
Purchases | 0 | 0 | ||
Issuances | 0 | 0 | ||
Sales | 0 | 0 | ||
Settlements | 0 | 0 | ||
Net transfers into (out of) Level 3 | 0 | 0 | [2] | |
Ending Balance | $22,163 | $22,169 | ||
[1] | Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income. | |||
[2] | (2)During the first quarter of 2012, one municipal security was transferred out of Level 3 into Level 2 as observable market information was available that market participants would use in pricing these securities. Transfers out of Level 3 are recognized at the end of the reporting period. |
Fair_Value_of_Assets_and_Liabi4
Fair Value of Assets and Liabilities (Summary of Assets Measured at Fair Value on a Nonrecurring Basis) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Mortgage loans held-for-sale, at lower of cost or market | $334,300 |
Impaired loans, Fair Value Losses (Gains) Recognized | 38,430 |
Other real estate owned, Fair Value Losses (Gains) Recognized | 10,924 |
Mortgage loans held-for-sale, at lower of cost or market, Fair Value Losses (Gains) Recognized | 0 |
Fair Value Losses (Gains) Recognized | 49,354 |
Fair Value, Measurements, Nonrecurring [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Impaired loans | 55,127 |
Other real estate owned | 136,288 |
Mortgage loans held-for-sale, at lower of cost or market | 1,842 |
Fair value of assets measured on nonrecurring basis | 193,257 |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Impaired loans | 0 |
Other real estate owned | 0 |
Mortgage loans held-for-sale, at lower of cost or market | 0 |
Fair value of assets measured on nonrecurring basis | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Impaired loans | 0 |
Other real estate owned | 0 |
Mortgage loans held-for-sale, at lower of cost or market | 1,842 |
Fair value of assets measured on nonrecurring basis | 1,842 |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Impaired loans | 55,127 |
Other real estate owned | 136,288 |
Mortgage loans held-for-sale, at lower of cost or market | 0 |
Fair value of assets measured on nonrecurring basis | $191,415 |
Fair_Value_of_Assets_and_Liabi5
Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Schedule of Valuation Techniques and Significant Unobservable Inputs Used to Measure Both Recurring and Non-recurring) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Impaired Loans [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Mortgage Servicing Rights Prepayment Rate Input [Member] | Mortgage Servicing Rights Prepayment Rate Input [Member] | Mortgage Servicing Rights Discount Rate Input [Member] | Mortgage Servicing Rights Discount Rate Input [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] |
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Equity Securities [Member] | Other Real Estate Owned [Member] | Equity Securities [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Minimum [Member] | Maximum [Member] | |||||||||||
Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||||||
Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | ||||||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value on a Recurring Basis | ' | ' | $36,386 | $30,770 | $24,211 | ' | ' | $22,163 | $22,169 | $18,971 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8,946 | $6,750 | $6,700 | ' | ' | ' |
Impaired loans | 55,127 | 55,127 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other real estate owned | $136,288 | $136,288 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation Methodology | ' | ' | ' | ' | ' | ' | 'Bond pricing | ' | ' | ' | ' | 'Discounted cash flows | ' | 'Appraisal value | 'Appraisal value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Discounted cash flows | ' | ' |
Significant Unobservable Input | ' | ' | ' | ' | ' | ' | 'Equivalent rating | ' | ' | ' | ' | 'Discount rate | ' | 'Property specific impairment adjustment | ' | ' | ' | ' | ' | ' | 'Constant prepayment rate (CPR) | ' | 'Discount rate | ' | ' | ' | ' | ' | ' |
Range of Inputs | ' | ' | ' | ' | ' | 'BBB-AA+ | ' | ' | ' | ' | '1.94%-3.06% | ' | '0%-100% | ' | ' | ' | ' | ' | ' | '10%-15% | ' | '10%-13.5% | ' | ' | ' | ' | ' | ' | ' |
Weighted Average of Inputs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.54% | ' | 2.94% | ' | ' | ' | ' | ' | ' | 11.94% | ' | 10.16% | ' | ' | ' | ' | ' | ' | ' |
Impact to Valuation from an Increased or HIgher Input Value | ' | ' | ' | ' | ' | ' | 'Increase | ' | ' | ' | ' | 'Decrease | ' | 'Decrease | ' | ' | ' | ' | ' | ' | 'Decrease | ' | 'Decrease | ' | ' | ' | ' | ' | ' |
Range of Inputs - Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.94% | 0.00% | 3.06% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 13.50% |
Range of Inputs - Prepayment Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 15.00% |
Fair_Value_of_Assets_and_Liabi6
Fair Value of Assets and Liabilities (Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $263,864,000 | $315,028,000 | $169,704,000 | $172,580,000 |
Interest bearing deposits with banks | 495,574,000 | 1,035,743,000 | ' | ' |
Available-for-sale securities, at fair value | 2,176,290,000 | 1,796,076,000 | ' | ' |
Trading account securities | 497,000 | 583,000 | ' | ' |
Brokerage customer receivables | 30,953,000 | 24,864,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank stock, at cost | 79,261,000 | 79,564,000 | ' | ' |
Mortgage loans held-for-sale, at fair value | 332,485,000 | 385,033,000 | ' | ' |
Mortgage loans held-for-sale, at lower of cost or market | 1,842,000 | 27,167,000 | ' | ' |
Total loans | 13,243,033,000 | 12,389,030,000 | ' | ' |
Mortgage servicing rights | 8,946,000 | 6,750,000 | 6,700,000 | 8,762,000 |
FDIC indemnification asset | 85,672,000 | 208,160,000 | 344,251,000 | ' |
Notes payable | 364,000 | 2,093,000 | ' | ' |
Federal Home Loan Bank advances | 417,762,000 | 414,122,000 | ' | ' |
Subordinated notes | 0 | 15,000,000 | ' | ' |
Other borrowings | 254,740,000 | 274,411,000 | ' | ' |
Junior subordinated debentures | 249,493,000 | 249,493,000 | ' | ' |
Carrying Value [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 263,864,000 | 315,028,000 | ' | ' |
Interest bearing deposits with banks | 495,574,000 | 1,035,743,000 | ' | ' |
Available-for-sale securities, at fair value | 2,176,290,000 | 1,796,076,000 | ' | ' |
Trading account securities | 497,000 | 583,000 | ' | ' |
Brokerage customer receivables | 30,953,000 | 24,864,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank stock, at cost | 79,261,000 | 79,564,000 | ' | ' |
Mortgage loans held-for-sale, at fair value | 332,485,000 | 385,033,000 | ' | ' |
Mortgage loans held-for-sale, at lower of cost or market | 1,842,000 | 27,167,000 | ' | ' |
Total loans | 13,243,033,000 | 12,389,030,000 | ' | ' |
Mortgage servicing rights | 8,946,000 | 6,750,000 | ' | ' |
Nonqualified deferred compensation assets | 7,222,000 | 5,532,000 | ' | ' |
Derivative assets | 48,221,000 | 53,906,000 | ' | ' |
FDIC indemnification asset | 85,672,000 | 208,160,000 | ' | ' |
Accrued interest receivable and other | 163,732,000 | 157,157,000 | ' | ' |
Total financial assets | 16,937,592,000 | 16,484,593,000 | ' | ' |
Non-maturity deposits | 10,442,077,000 | 9,447,633,000 | ' | ' |
Deposits with stated maturities | 4,226,712,000 | 4,980,911,000 | ' | ' |
Notes payable | 364,000 | 2,093,000 | ' | ' |
Federal Home Loan Bank advances | 417,762,000 | 414,122,000 | ' | ' |
Subordinated notes | 0 | 15,000,000 | ' | ' |
Other borrowings | 254,740,000 | 274,411,000 | ' | ' |
Junior subordinated debentures | 249,493,000 | 249,493,000 | ' | ' |
Derivative liabilities | 37,264,000 | 57,751,000 | ' | ' |
Accrued interest payable and other | 8,556,000 | 11,589,000 | ' | ' |
Total financial liabilities | 15,636,968,000 | 15,453,003,000 | ' | ' |
Fair Value [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 263,864,000 | 315,028,000 | ' | ' |
Interest bearing deposits with banks | 495,574,000 | 1,035,743,000 | ' | ' |
Available-for-sale securities, at fair value | 2,176,290,000 | 1,796,076,000 | ' | ' |
Trading account securities | 497,000 | 583,000 | ' | ' |
Brokerage customer receivables | 30,953,000 | 24,864,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank stock, at cost | 79,261,000 | 79,564,000 | ' | ' |
Mortgage loans held-for-sale, at fair value | 332,485,000 | 385,033,000 | ' | ' |
Mortgage loans held-for-sale, at lower of cost or market | 1,857,000 | 27,568,000 | ' | ' |
Total loans | 13,867,255,000 | 13,053,101,000 | ' | ' |
Mortgage servicing rights | 8,946,000 | 6,750,000 | ' | ' |
Nonqualified deferred compensation assets | 7,222,000 | 5,532,000 | ' | ' |
Derivative assets | 48,221,000 | 53,906,000 | ' | ' |
FDIC indemnification asset | 85,672,000 | 208,160,000 | ' | ' |
Accrued interest receivable and other | 163,732,000 | 157,157,000 | ' | ' |
Total financial assets | 17,561,829,000 | 17,149,065,000 | ' | ' |
Non-maturity deposits | 10,442,077,000 | 9,447,633,000 | ' | ' |
Deposits with stated maturities | 4,242,172,000 | 5,013,757,000 | ' | ' |
Notes payable | 364,000 | 2,093,000 | ' | ' |
Federal Home Loan Bank advances | 422,750,000 | 425,431,000 | ' | ' |
Subordinated notes | 0 | 15,000,000 | ' | ' |
Other borrowings | 254,740,000 | 274,411,000 | ' | ' |
Junior subordinated debentures | 250,672,000 | 250,428,000 | ' | ' |
Derivative liabilities | 37,264,000 | 57,751,000 | ' | ' |
Accrued interest payable and other | 8,556,000 | 11,589,000 | ' | ' |
Total financial liabilities | $15,658,595,000 | $15,498,093,000 | ' | ' |
Fair_Value_of_Assets_and_Liabi7
Fair Value of Assets and Liabilities Fair Values of Assets and Liabilities (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Valued Using Discounted Cash Flow Model [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | ||||
Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||||||||||||||||
Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | ||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $36,386,000 | $30,770,000 | $24,211,000 | $22,163,000 | $22,169,000 | $18,971,000 | ' | ' | ' | ' | $8,946,000 | $6,750,000 | $6,700,000 | ' | ' | ' | ' | ' | ' | |
Discount rate input | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.94% | 3.06% | 2.54% | ' | ' | ' | 10.00% | 13.50% | 10.16% | ' | 0.00% | 100.00% | |
Fair value inputs, prepayment rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 15.00% | 11.94% | ' | ' | ' | |
Principal Amount Outstanding on Loans Held-for-sale or Securitization or Asset-backed Financing Arrangement | ' | ' | 314,900,000 | 379,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Mortgage loans held-for-sale | ' | ' | ' | ' | ' | 332,485,000 | 385,033,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Mortgages held-for-sale, past due 90 days and accruing | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total impaired loans | 162,229,000 | 204,545,000 | [1] | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,127,000 | 55,127,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other real estate owned | ' | ' | ' | ' | ' | ' | ' | ' | ' | $136,288,000 | $136,288,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted average of inputs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.54% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.94% | ' | ' | |
[1] | Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest. |
Shareholders_Equity_Summary_of
Shareholders' Equity (Summary of the Company's Common and Preferred Stock) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stockholders' Equity Note [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 100,000,000 | ' | ' | ' | 100,000,000 | ' | ' | ' | 100,000,000 | 100,000,000 | ' |
Common stock, shares issued | ' | 46,181,588 | ' | ' | ' | 37,107,684 | ' | ' | ' | 46,181,588 | 37,107,684 | ' |
Common stock, shares outstanding | ' | 46,116,583,000 | ' | ' | ' | 36,858,355,000 | ' | ' | ' | 46,116,583,000 | 36,858,355,000 | ' |
Cash dividend per share (in usd per share) | $0.10 | $0 | $0.09 | $0 | $0.09 | $0 | $0.09 | $0 | $0.09 | $0.18 | $0.18 | $0.18 |
Preferred stock, shares authorized | ' | 20,000,000 | ' | ' | ' | 20,000,000 | ' | ' | ' | 20,000,000 | 20,000,000 | ' |
Preferred stock, shares issued | ' | 126,477 | ' | ' | ' | 176,500 | ' | ' | ' | 126,477 | 176,500 | ' |
Preferred stock, shares outstanding | ' | 126,477 | ' | ' | ' | 176,500 | ' | ' | ' | 126,477 | 176,500 | ' |
Shareholders_Equity_Aggregate_
Shareholders' Equity (Aggregate Fair Values Assigned to Each Component of Tangible Equity Units Offering) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2010 | Dec. 07, 2010 | |
Class of Stock [Line Items] | ' | ' | |
Tangible Equity Unit Components | ' | 2 | |
Units issued | ' | 4,600 | [1] |
Unit price (usd per share) | ' | $50 | |
Gross proceeds | ' | $230,000 | |
Issuance costs, including discount | ' | 7,353 | |
Net proceeds | 222,647 | ' | |
Borrowings [Member] | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Net proceeds | 43,331 | ' | |
Surplus | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Net proceeds | 179,316 | ' | |
Debt [Member] | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Units issued | ' | 4,600 | [1] |
Unit price (usd per share) | ' | $9.73 | |
Gross proceeds | ' | 44,750 | |
Issuance costs, including discount | ' | 1,419 | |
Net proceeds | 43,331 | ' | |
Debt [Member] | Borrowings [Member] | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Net proceeds | 43,331 | ' | |
Debt [Member] | Surplus | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Net proceeds | 0 | ' | |
Equity [Member] | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Tangible Equity Unit Components | ' | 1 | |
Units issued | ' | 4,600 | [1] |
Unit price (usd per share) | ' | $40.27 | |
Gross proceeds | ' | 185,250 | |
Issuance costs, including discount | ' | 5,934 | |
Net proceeds | 179,316 | ' | |
Equity [Member] | Borrowings [Member] | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Net proceeds | 0 | ' | |
Equity [Member] | Surplus | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Net proceeds | $179,316 | ' | |
Borrowings [Member] | ' | ' | |
Class of Stock [Line Items] | ' | ' | |
Tangible Equity Unit Components | ' | 1 | |
[1] | TEUs consisted of two components: one unit of the equity component and one unit of the debt component. |
Shareholders_Equity_Shareholde
Shareholders' Equity Shareholders' Equity (Components of Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Activity Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Balance at beginning of period | $7,711,000 | ($2,878,000) | ($5,512,000) |
Other comprehensive income (loss) during the period, net of tax, before reclassification | -75,635,000 | 10,041,000 | -1,213,000 |
Amount reclassified from accumulated other comprehensive income (loss), net of tax | 4,888,000 | 548,000 | 3,847,000 |
Total other comprehensive (loss) income | -70,747,000 | 10,589,000 | 2,634,000 |
Balance at end of period | -63,036,000 | 7,711,000 | -2,878,000 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' |
Activity Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Balance at beginning of period | 6,710,000 | 4,204,000 | 2,679,000 |
Other comprehensive income (loss) during the period, net of tax, before reclassification | -62,182,000 | 5,461,000 | 2,605,000 |
Amount reclassified from accumulated other comprehensive income (loss), net of tax | 1,807,000 | -2,955,000 | -1,080,000 |
Total other comprehensive (loss) income | -60,375,000 | 2,506,000 | 1,525,000 |
Balance at end of period | -53,665,000 | 6,710,000 | 4,204,000 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Activity Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Balance at beginning of period | -5,292,000 | -7,082,000 | -8,191,000 |
Other comprehensive income (loss) during the period, net of tax, before reclassification | -251,000 | -1,713,000 | -3,818,000 |
Amount reclassified from accumulated other comprehensive income (loss), net of tax | 3,081,000 | 3,503,000 | 4,927,000 |
Total other comprehensive (loss) income | 2,830,000 | 1,790,000 | 1,109,000 |
Balance at end of period | -2,462,000 | -5,292,000 | -7,082,000 |
Accumulated Translation Adjustment [Member] | ' | ' | ' |
Activity Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Balance at beginning of period | 6,293,000 | 0 | 0 |
Other comprehensive income (loss) during the period, net of tax, before reclassification | -13,202,000 | 6,293,000 | 0 |
Amount reclassified from accumulated other comprehensive income (loss), net of tax | 0 | 0 | 0 |
Total other comprehensive (loss) income | -13,202,000 | 6,293,000 | 0 |
Balance at end of period | ($6,909,000) | $6,293,000 | $0 |
Shareholders_Equity_Shareholde1
Shareholders' Equity Shareholders' Equity (Reclassification from Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Losses) gains on available-for-sale securities, net | ($3,328,000) | $75,000 | $2,000 | $251,000 | $2,561,000 | $409,000 | $1,109,000 | $816,000 | ($3,000,000) | $4,895,000 | $1,792,000 |
Income before taxes | 57,822,000 | 58,082,000 | 56,250,000 | 52,286,000 | 48,871,000 | 52,173,000 | 41,329,000 | 37,759,000 | 224,440,000 | 180,132,000 | 128,033,000 |
Income tax expense | 22,534,000 | 22,519,000 | 21,943,000 | 20,234,000 | 18,782,000 | 19,871,000 | 15,734,000 | 14,549,000 | 87,230,000 | 68,936,000 | 50,458,000 |
Net income | 35,288,000 | 35,563,000 | 34,307,000 | 32,052,000 | 30,089,000 | 32,302,000 | 25,595,000 | 23,210,000 | 137,210,000 | 111,196,000 | 77,575,000 |
Interest on junior subordinated debentures | ' | ' | ' | ' | ' | ' | ' | ' | 11,369,000 | 12,616,000 | 16,272,000 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Losses) gains on available-for-sale securities, net | ' | ' | ' | ' | ' | ' | ' | ' | -3,000,000 | 4,895,000 | ' |
Income before taxes | ' | ' | ' | ' | ' | ' | ' | ' | -3,000,000 | 4,895,000 | ' |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | -1,193,000 | 1,940,000 | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -1,807,000 | 2,955,000 | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income before taxes | ' | ' | ' | ' | ' | ' | ' | ' | -5,116,000 | -5,850,000 | ' |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | -2,035,000 | -2,347,000 | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -3,081,000 | -3,503,000 | ' |
Interest on junior subordinated debentures | ' | ' | ' | ' | ' | ' | ' | ' | $5,116,000 | $5,850,000 | ' |
Shareholders_Equity_Narrative_
Shareholders' Equity (Narrative) (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Feb. 20, 2014 | Feb. 06, 2014 | Dec. 15, 2013 | Dec. 19, 2008 | Jan. 31, 2014 | Feb. 28, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 07, 2010 | Jul. 19, 2013 | Aug. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Sep. 29, 2011 | Aug. 31, 2012 | Jul. 31, 2011 | 1-May-13 | Dec. 31, 2012 | Mar. 15, 2011 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 15, 2013 | Dec. 07, 2010 | |
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Equity [Member] | Elgin State Bancorp Inc [Member] | Great Lakes Advisors [Member] | Great Lakes Advisors [Member] | First Lansing Bancorp, Inc. [Member] | HPK Financial Corporation [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | |||||||||||||||||||||
Shareholders' Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible equity units sold (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of tangible equity units sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible equity unit public offering price per unit (in usd per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible equity unit, net proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $222,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Dec-13 | 15-Dec-13 | ' | ' |
Debt Instrument, Frequency of Periodic Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'quarterly | 'quarterly | ' | ' |
Percentage of fair value of debt component quarterly cash payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' |
Discount rate on debt component | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.50% |
Risk-free rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 0.70% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.95% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected stock price volatility minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected stock price volatility maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of dividend yield plus stock borrow cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.85% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years 6 months | '4 years 6 months | '4 years 4 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 0 months 7 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Junior subordinated amortizing note, initial principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.728182 |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.50% | 9.50% |
Quarterly installments on amortizing note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.989583 | ' | 0.9375 | ' | ' |
Settlement rate | ' | ' | 1.3333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of consecutive trading days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Per Share Reclassified From Surplus To Common Stock | ' | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued | ' | ' | ' | ' | ' | ' | ' | 126,477 | ' | ' | ' | 176,500 | ' | ' | ' | 126,477 | 176,500 | ' | ' | ' | 50,000 | 50,000 | 0 | 50,000 | 126,500 | 126,477 | 126,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, liquidation value (in usd per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Value, Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50,000,000 | $0 | $49,906,000 | $126,500,000 | $126,477,000 | $126,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, dividend rate, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock convertible into common stock, option of holder at a conversion rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38.88 | ' | ' | 24.3132 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,944,000 | ' | ' | ' | ' | 559 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Stock, Shares Converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, No Par Value | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | $0 | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant for purchase of shares (in shares) | ' | ' | ' | 1,643,295 | ' | ' | ' | 1,643,295 | ' | ' | ' | ' | ' | ' | ' | 1,643,295 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of common stock (in usd per share) | ' | ' | ' | $22.82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant termination period | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants holders common stock purchase price (in usd per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding (in shares) | ' | ' | ' | ' | ' | ' | 19,000 | 0 | ' | ' | ' | 1,000 | ' | ' | 19,000 | 0 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised (in shares) | ' | ' | ' | ' | ' | 1,000 | 18,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued in acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 353,650 | 25,493 | 529,087 | 648,286 | 372,530 | ' | ' | ' | ' | ' |
Cash dividends declared per common share (in usd per share) | ' | ' | ' | ' | $0.10 | ' | ' | $0 | $0.09 | $0 | $0.09 | $0 | $0.09 | $0 | $0.09 | $0.18 | $0.18 | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Dividends Per Share Declared Annualized (in usd per share) | ' | ' | ' | ' | $0.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends Payable, Date to be Paid | 20-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends Payable, Date of Record | ' | 6-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment_Information_Summary_Of
Segment Information (Summary Of Certain Operating Information For Reportable Segments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | $142,308,000 | $141,782,000 | $135,824,000 | $130,713,000 | $132,776,000 | $132,575,000 | $128,270,000 | $125,895,000 | $550,627,000 | $519,516,000 | $461,377,000 |
Provision for credit losses | 3,850,000 | 11,114,000 | 15,382,000 | 15,687,000 | 19,546,000 | 18,799,000 | 20,691,000 | 17,400,000 | 46,033,000 | 76,436,000 | 102,638,000 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 222,397,000 | 226,092,000 | 189,698,000 |
Noninterest expense | 126,997,000 | 127,248,000 | 128,187,000 | 120,119,000 | 129,548,000 | 124,548,000 | 117,185,000 | 117,759,000 | 502,551,000 | 489,040,000 | 420,404,000 |
Income tax expense | 22,534,000 | 22,519,000 | 21,943,000 | 20,234,000 | 18,782,000 | 19,871,000 | 15,734,000 | 14,549,000 | 87,230,000 | 68,936,000 | 50,458,000 |
Net income | 35,288,000 | 35,563,000 | 34,307,000 | 32,052,000 | 30,089,000 | 32,302,000 | 25,595,000 | 23,210,000 | 137,210,000 | 111,196,000 | 77,575,000 |
Total assets at end of year | 18,097,783,000 | ' | ' | ' | 17,519,613,000 | ' | ' | ' | 18,097,783,000 | 17,519,613,000 | 15,893,808,000 |
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 536,194,000 | 506,777,000 | 454,854,000 |
Provision for credit losses | ' | ' | ' | ' | ' | ' | ' | ' | 46,033,000 | 76,436,000 | 102,638,000 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 247,030,000 | 247,660,000 | 202,136,000 |
Noninterest expense | ' | ' | ' | ' | ' | ' | ' | ' | 512,751,000 | 497,869,000 | 426,319,000 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 87,230,000 | 68,936,000 | 50,458,000 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 137,210,000 | 111,196,000 | 77,575,000 |
Total assets at end of year | 18,097,783,000 | ' | ' | ' | 17,519,613,000 | ' | ' | ' | 18,097,783,000 | 17,519,613,000 | 15,893,808,000 |
Operating Segments [Member] | Community Banking [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 448,173,000 | 430,405,000 | 370,733,000 |
Provision for credit losses | ' | ' | ' | ' | ' | ' | ' | ' | 45,396,000 | 74,975,000 | 102,902,000 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 150,543,000 | 166,296,000 | 139,248,000 |
Noninterest expense | ' | ' | ' | ' | ' | ' | ' | ' | 409,780,000 | 403,228,000 | 342,283,000 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 55,161,000 | 45,170,000 | 24,681,000 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 88,379,000 | 73,328,000 | 40,115,000 |
Total assets at end of year | 15,132,912,000 | ' | ' | ' | 14,787,221,000 | ' | ' | ' | 15,132,912,000 | 14,787,221,000 | 13,286,432,000 |
Operating Segments [Member] | Specialty Finance [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 73,903,000 | 64,048,000 | 72,893,000 |
Provision for credit losses | ' | ' | ' | ' | ' | ' | ' | ' | 637,000 | 1,461,000 | -264,000 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 30,890,000 | 26,845,000 | 15,133,000 |
Noninterest expense | ' | ' | ' | ' | ' | ' | ' | ' | 40,529,000 | 38,394,000 | 32,829,000 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 25,508,000 | 19,660,000 | 22,511,000 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 38,119,000 | 31,378,000 | 32,950,000 |
Total assets at end of year | 2,470,832,000 | ' | ' | ' | 2,295,284,000 | ' | ' | ' | 2,470,832,000 | 2,295,284,000 | 2,185,214,000 |
Operating Segments [Member] | Wealth Management [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 14,118,000 | 12,324,000 | 11,228,000 |
Provision for credit losses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 65,597,000 | 54,519,000 | 47,755,000 |
Noninterest expense | ' | ' | ' | ' | ' | ' | ' | ' | 62,442,000 | 56,247,000 | 51,207,000 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 6,561,000 | 4,106,000 | 3,266,000 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 10,712,000 | 6,490,000 | 4,510,000 |
Total assets at end of year | 494,039,000 | ' | ' | ' | 437,108,000 | ' | ' | ' | 494,039,000 | 437,108,000 | 422,162,000 |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 14,433,000 | 12,739,000 | 6,523,000 |
Provision for credit losses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | -24,633,000 | -21,568,000 | -12,438,000 |
Noninterest expense | ' | ' | ' | ' | ' | ' | ' | ' | -10,200,000 | -8,829,000 | -5,915,000 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total assets at end of year | $0 | ' | ' | ' | $0 | ' | ' | ' | $0 | $0 | $0 |
Segment_Information_Segment_Re
Segment Information Segment Reporting Narrative (Details) | 12 Months Ended | 24 Months Ended |
Dec. 31, 2013 | Dec. 31, 2013 | |
segment | segment | |
subsidiary | ||
Segment Reporting Information [Line Items] | ' | ' |
Number of bank subsidiaries that management monitors | 15 | ' |
Number of Reportable Segments | 3 | 3 |
Community Banking [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Number of Reportable Segments | 1 | ' |
Condensed_Parent_Company_Finan2
Condensed Parent Company Financial Statements (Balance Sheets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Assets | ' | ' | ' | ' |
Cash | $253,408,000 | $284,731,000 | ' | ' |
Available-for-sale securities, at fair value | 2,176,290,000 | 1,796,076,000 | ' | ' |
Loans, net of unearned income | 12,896,602,000 | 11,828,943,000 | ' | ' |
Less: Allowance for loan losses | -96,922,000 | -107,351,000 | -110,381,000 | ' |
Goodwill | 374,547,000 | 345,401,000 | ' | ' |
Total assets | 18,097,783,000 | 17,519,613,000 | 15,893,808,000 | ' |
Liabilities and Shareholders' Equity | ' | ' | ' | ' |
Notes payable | 364,000 | 2,093,000 | ' | ' |
Subordinated notes | 0 | 15,000,000 | ' | ' |
Other borrowings | 254,740,000 | 274,411,000 | ' | ' |
Junior subordinated debentures | 249,493,000 | 249,493,000 | ' | ' |
Shareholders' equity | 1,900,589,000 | 1,804,705,000 | 1,543,533,000 | 1,436,549,000 |
Total liabilities and shareholders' equity | 18,097,783,000 | 17,519,613,000 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash | 80,869,000 | 55,011,000 | ' | ' |
Available-for-sale securities, at fair value | 12,839,000 | 9,647,000 | ' | ' |
Investment in and receivable from subsidiaries | 1,971,018,000 | 1,935,556,000 | ' | ' |
Loans, net of unearned income | 3,768,000 | 1,760,000 | ' | ' |
Less: Allowance for loan losses | -81,000 | 0 | ' | ' |
Net Loans | 3,687,000 | 1,760,000 | ' | ' |
Goodwill | 8,371,000 | 8,347,000 | ' | ' |
Other assets | 113,930,000 | 111,786,000 | ' | ' |
Total assets | 2,190,714,000 | 2,122,107,000 | ' | ' |
Liabilities and Shareholders' Equity | ' | ' | ' | ' |
Other liabilities | 21,292,000 | 15,899,000 | ' | ' |
Notes payable | 0 | 1,000,000 | ' | ' |
Subordinated notes | 0 | 15,000,000 | ' | ' |
Other borrowings | 19,340,000 | 36,010,000 | ' | ' |
Junior subordinated debentures | 249,493,000 | 249,493,000 | ' | ' |
Shareholders' equity | 1,900,589,000 | 1,804,705,000 | ' | ' |
Total liabilities and shareholders' equity | $2,190,714,000 | $2,122,107,000 | ' | ' |
Condensed_Parent_Company_Finan3
Condensed Parent Company Financial Statements (Statements Of Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Losses) gains on available-for-sale securities, net | ($3,328,000) | $75,000 | $2,000 | $251,000 | $2,561,000 | $409,000 | $1,109,000 | $816,000 | ($3,000,000) | $4,895,000 | $1,792,000 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 29,467,000 | 25,497,000 | 19,603,000 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 18,274,000 | 19,386,000 | 20,822,000 | 21,600,000 | 23,867,000 | 25,626,000 | 27,421,000 | 30,591,000 | 80,082,000 | 107,505,000 | 144,416,000 |
Salaries and employee benefits | ' | ' | ' | ' | ' | ' | ' | ' | 308,794,000 | 288,589,000 | 237,785,000 |
Income before taxes | 57,822,000 | 58,082,000 | 56,250,000 | 52,286,000 | 48,871,000 | 52,173,000 | 41,329,000 | 37,759,000 | 224,440,000 | 180,132,000 | 128,033,000 |
Income tax benefit | -22,534,000 | -22,519,000 | -21,943,000 | -20,234,000 | -18,782,000 | -19,871,000 | -15,734,000 | -14,549,000 | -87,230,000 | -68,936,000 | -50,458,000 |
Net income | 35,288,000 | 35,563,000 | 34,307,000 | 32,052,000 | 30,089,000 | 32,302,000 | 25,595,000 | 23,210,000 | 137,210,000 | 111,196,000 | 77,575,000 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends and interest from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 114,241,000 | 47,295,000 | 30,783,000 |
(Losses) gains on available-for-sale securities, net | ' | ' | ' | ' | ' | ' | ' | ' | 111,000 | 64,000 | 164,000 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 4,529,000 | 605,000 | -487,000 |
Total income | ' | ' | ' | ' | ' | ' | ' | ' | 118,881,000 | 47,964,000 | 30,460,000 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 13,424,000 | 16,840,000 | 21,342,000 |
Salaries and employee benefits | ' | ' | ' | ' | ' | ' | ' | ' | 17,831,000 | 20,042,000 | 12,435,000 |
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | 24,739,000 | 27,428,000 | 14,037,000 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 55,994,000 | 64,310,000 | 47,814,000 |
Income before taxes | ' | ' | ' | ' | ' | ' | ' | ' | 62,887,000 | -16,346,000 | -17,354,000 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 18,599,000 | 23,127,000 | 16,573,000 |
Income (loss) before equity in undistributed net loss of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 81,486,000 | 6,781,000 | -781,000 |
Equity in undistributed net income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 55,724,000 | 104,415,000 | 78,356,000 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $137,210,000 | $111,196,000 | $77,575,000 |
Condensed_Parent_Company_Finan4
Condensed Parent Company Financial Statements (Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Operating Activities: | ' | ' | ' |
Net income | $137,210,000 | $111,196,000 | $77,575,000 |
Adjustments to reconcile net income to net cash provided by (used for) operating activities | ' | ' | ' |
Provision for credit losses | 46,033,000 | 76,436,000 | 102,638,000 |
Losses (gains) on available-for-sale securities, net | 3,000,000 | -4,895,000 | -1,792,000 |
Depreciation and amortization | 26,180,000 | 24,676,000 | 19,469,000 |
Deferred income tax expense (benefit) | 1,539,000 | -23,315,000 | -639,000 |
Stock-based compensation expense | 6,799,000 | 9,072,000 | 5,692,000 |
Tax (expense) benefit from stock-based compensation arrangements | -831,000 | 1,392,000 | 129,000 |
Excess tax benefits from stock-based compensation arrangements | -474,000 | -841,000 | -306,000 |
Increase in other assets | 54,300,000 | 15,605,000 | 12,582,000 |
(Decrease) increase in other liabilities | -21,749,000 | 137,743,000 | -9,720,000 |
Net Cash Provided by (Used for) Operating Activities | 321,785,000 | 268,654,000 | 244,267,000 |
Investing Activities: | ' | ' | ' |
Net Cash Used for Investing Activities | -240,797,000 | -495,875,000 | -836,964,000 |
Financing Activities: | ' | ' | ' |
(Decrease) increase in notes payable and other borrowings, net | -22,396,000 | -306,786,000 | 226,050,000 |
Repayment of subordinated notes | -15,000,000 | -20,000,000 | -15,000,000 |
Excess tax benefits from stock-based compensation arrangements | 474,000 | 841,000 | 306,000 |
Net proceeds from issuance of Series C preferred stock | 0 | 122,690,000 | 0 |
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants | 19,113,000 | 14,891,000 | 3,586,000 |
Dividends paid | -13,893,000 | -13,157,000 | -10,344,000 |
Common stock repurchases | -3,504,000 | -7,726,000 | -112,000 |
Net Cash (Used for) Provided by Financing Activities | -132,152,000 | 372,545,000 | 589,821,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | -51,164,000 | 145,324,000 | -2,876,000 |
Cash and Cash Equivalents at Beginning of Period | 315,028,000 | 169,704,000 | 172,580,000 |
Cash and Cash Equivalents at End of Period | 263,864,000 | 315,028,000 | 169,704,000 |
Parent Company [Member] | ' | ' | ' |
Operating Activities: | ' | ' | ' |
Net income | 137,210,000 | 111,196,000 | 77,575,000 |
Adjustments to reconcile net income to net cash provided by (used for) operating activities | ' | ' | ' |
Provision for credit losses | 1,765,000 | 8,050,000 | 608,000 |
Losses (gains) on available-for-sale securities, net | -111,000 | -64,000 | -164,000 |
Depreciation and amortization | 3,744,000 | 3,072,000 | 2,178,000 |
Deferred income tax expense (benefit) | 1,217,000 | 2,224,000 | -1,785,000 |
Stock-based compensation expense | 6,799,000 | 9,072,000 | 2,008,000 |
Tax (expense) benefit from stock-based compensation arrangements | -831,000 | 1,392,000 | 129,000 |
Excess tax benefits from stock-based compensation arrangements | -112,000 | -483,000 | -19,000 |
Increase in other assets | -3,051,000 | -53,892,000 | -28,389,000 |
(Decrease) increase in other liabilities | -4,517,000 | -1,619,000 | 122,000 |
Equity in undistributed net income of subsidiaries | -55,724,000 | -104,415,000 | -78,356,000 |
Net Cash Provided by (Used for) Operating Activities | 86,389,000 | -25,467,000 | -26,093,000 |
Investing Activities: | ' | ' | ' |
Capital contributions to subsidiaries, net | -8,293,000 | -53,807,000 | -22,361,000 |
Other investing activity, net | -21,206,000 | -12,284,000 | 440,000 |
Net Cash Used for Investing Activities | -29,499,000 | -66,091,000 | -21,921,000 |
Financing Activities: | ' | ' | ' |
(Decrease) increase in notes payable and other borrowings, net | -17,860,000 | -44,887,000 | 36,337,000 |
Repayment of subordinated notes | -15,000,000 | -20,000,000 | -15,000,000 |
Excess tax benefits from stock-based compensation arrangements | 112,000 | 483,000 | 19,000 |
Net proceeds from issuance of Series C preferred stock | 0 | 122,690,000 | 0 |
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants | 19,113,000 | 14,891,000 | 3,586,000 |
Dividends paid | -13,893,000 | -13,157,000 | -10,344,000 |
Common stock repurchases | -3,504,000 | -7,726,000 | -112,000 |
Net Cash (Used for) Provided by Financing Activities | -31,032,000 | 52,294,000 | 14,486,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | 25,858,000 | -39,264,000 | -33,528,000 |
Cash and Cash Equivalents at Beginning of Period | 55,011,000 | 94,275,000 | 127,803,000 |
Cash and Cash Equivalents at End of Period | $80,869,000 | $55,011,000 | $94,275,000 |
Earnings_Per_Share_Computation
Earnings Per Share (Computation Of Basic And Diluted Earnings Per Common Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $35,288 | $35,563 | $34,307 | $32,052 | $30,089 | $32,302 | $25,595 | $23,210 | $137,210 | $111,196 | $77,575 |
Less: Preferred stock dividends and discount accretion | 1,581 | 1,581 | 2,617 | 2,616 | 2,616 | 2,616 | 2,644 | 1,246 | 8,395 | 9,093 | 4,128 |
Net income applicable to common shares - Basic | 33,707 | 33,982 | 31,690 | 29,436 | 27,473 | 29,686 | 22,951 | 21,964 | 128,815 | 102,103 | 73,447 |
Add: Dividends on convertible preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | 8,325 | 8,955 | 0 |
Net income applicable to common shares - Diluted | ' | ' | ' | ' | ' | ' | ' | ' | $137,140 | $111,058 | $73,447 |
Weighted average common shares outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 38,699 | 36,365 | 35,355 |
Common stock equivalents (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 7,108 | 7,313 | 8,636 |
Convertible preferred stock, if dilutive (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 4,141 | 4,356 | 0 |
Total dilutive potential common shares (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 11,249 | 11,669 | 8,636 |
Weighted average common shares and effect of dilutive potential common shares (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 49,948 | 48,034 | 43,991 |
Net income per common share - Basic (in usd per share) | $0.82 | $0.86 | $0.85 | $0.80 | $0.75 | $0.82 | $0.63 | $0.61 | $3.33 | $2.81 | $2.08 |
Net income per common share - Diluted (in usd per share) | $0.70 | $0.71 | $0.69 | $0.65 | $0.61 | $0.66 | $0.52 | $0.50 | $2.75 | $2.31 | $1.67 |
Quarterly_Financial_Summary_Un2
Quarterly Financial Summary (Unaudited) (Summary Of Quarterly Financial Information) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Jan. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | $160,582 | $161,168 | $156,646 | $152,313 | $156,643 | $158,201 | $155,691 | $156,486 | $630,709 | $627,021 | $605,793 |
Interest expense | ' | 18,274 | 19,386 | 20,822 | 21,600 | 23,867 | 25,626 | 27,421 | 30,591 | 80,082 | 107,505 | 144,416 |
Net interest income | ' | 142,308 | 141,782 | 135,824 | 130,713 | 132,776 | 132,575 | 128,270 | 125,895 | 550,627 | 519,516 | 461,377 |
Provision for credit losses | ' | 3,850 | 11,114 | 15,382 | 15,687 | 19,546 | 18,799 | 20,691 | 17,400 | 46,033 | 76,436 | 102,638 |
Net interest income after provision for credit losses | ' | 138,458 | 130,668 | 120,442 | 115,026 | 113,230 | 113,776 | 107,579 | 108,495 | 504,594 | 443,080 | 358,739 |
Non-interest income, excluding net securities gains (losses) | ' | 49,689 | 54,587 | 63,993 | 57,128 | 62,628 | 62,536 | 49,826 | 46,207 | ' | ' | ' |
(Losses) gains on available-for-sale securities, net | ' | -3,328 | 75 | 2 | 251 | 2,561 | 409 | 1,109 | 816 | -3,000 | 4,895 | 1,792 |
Non-interest expense | ' | 126,997 | 127,248 | 128,187 | 120,119 | 129,548 | 124,548 | 117,185 | 117,759 | 502,551 | 489,040 | 420,404 |
Income before taxes | ' | 57,822 | 58,082 | 56,250 | 52,286 | 48,871 | 52,173 | 41,329 | 37,759 | 224,440 | 180,132 | 128,033 |
Income tax expense | ' | 22,534 | 22,519 | 21,943 | 20,234 | 18,782 | 19,871 | 15,734 | 14,549 | 87,230 | 68,936 | 50,458 |
Net income | ' | 35,288 | 35,563 | 34,307 | 32,052 | 30,089 | 32,302 | 25,595 | 23,210 | 137,210 | 111,196 | 77,575 |
Preferred stock dividends and discount accretion | ' | 1,581 | 1,581 | 2,617 | 2,616 | 2,616 | 2,616 | 2,644 | 1,246 | 8,395 | 9,093 | 4,128 |
Net income applicable to common shares | ' | $33,707 | $33,982 | $31,690 | $29,436 | $27,473 | $29,686 | $22,951 | $21,964 | $128,815 | $102,103 | $73,447 |
Net income per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in usd per share) | ' | $0.82 | $0.86 | $0.85 | $0.80 | $0.75 | $0.82 | $0.63 | $0.61 | $3.33 | $2.81 | $2.08 |
Diluted (in usd per share) | ' | $0.70 | $0.71 | $0.69 | $0.65 | $0.61 | $0.66 | $0.52 | $0.50 | $2.75 | $2.31 | $1.67 |
Cash dividends declared per common share (in usd per share) | $0.10 | $0 | $0.09 | $0 | $0.09 | $0 | $0.09 | $0 | $0.09 | $0.18 | $0.18 | $0.18 |