DEI_Document
DEI Document | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Entity [Abstract] | ' | ' |
Entity Registrant Name | 'BBVA Compass Bancshares, Inc. | ' |
Entity Central Index Key | '0001409775 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 222,950,751 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and due from banks | $3,232,911 | $3,563,349 |
Federal funds sold, securities purchased under agreements to resell and interest bearing deposits | 31,291 | 35,111 |
Cash and cash equivalents | 3,264,202 | 3,598,460 |
Trading account assets | 356,889 | 319,930 |
Investment securities available for sale | 8,972,237 | 8,313,085 |
Investment securities held to maturity (fair value of $1,356,799 and $1,405,258 at June 30, 2014 and December 31, 2013, respectively) | 1,448,192 | 1,519,196 |
Loans held for sale (includes $211,879 and $139,750 measured at fair value at June 30, 2014 and December 31, 2013, respectively) | 211,879 | 147,109 |
Loans | 54,085,793 | 50,667,016 |
Allowance for loan losses | -714,760 | -700,719 |
Net loans | 53,371,033 | 49,966,297 |
Premises and equipment, net | 1,359,750 | 1,420,988 |
Bank owned life insurance | 691,445 | 683,224 |
Goodwill | 5,076,142 | 4,971,645 |
Other intangible assets | 95,475 | 109,040 |
Other real estate owned | 21,113 | 23,228 |
Other assets | 878,743 | 893,274 |
Total assets | 75,747,100 | 71,965,476 |
Deposits: | ' | ' |
Noninterest bearing | 16,321,003 | 15,377,844 |
Interest bearing | 41,797,403 | 39,059,646 |
Total deposits | 58,118,406 | 54,437,490 |
FHLB and other borrowings | 3,958,497 | 4,298,707 |
Federal funds purchased and securities sold under agreements to repurchase | 864,263 | 852,570 |
Other short-term borrowings | 15,705 | 5,591 |
Accrued expenses and other liabilities | 940,691 | 883,359 |
Total liabilities | 63,897,562 | 60,477,717 |
Shareholder’s Equity: | ' | ' |
Common stock - $0.01 par value; Authorized - 300,000,000 shares, Issued - 222,950,721 and 220,723,876 shares at June 30, 2014 and December 31, 2013, respectively | 2,230 | 2,207 |
Surplus | 15,383,867 | 15,273,218 |
Retained deficit | -3,507,192 | -3,728,737 |
Accumulated other comprehensive loss | -58,295 | -87,936 |
Total BBVA Compass Bancshares, Inc. shareholder’s equity | 11,820,610 | 11,458,752 |
Noncontrolling interests | 28,928 | 29,007 |
Total shareholder’s equity | 11,849,538 | 11,487,759 |
Total liabilities and shareholder’s equity | $75,747,100 | $71,965,476 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) Parenthetical (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Investment Securities - Fair Value | $1,356,799 | $1,405,258 |
Loans Held for Sale - Fair Value | $211,879 | $139,750 |
Common stock, par value | $0.01 | $0.01 |
Common stock, number of shares authorized | 300,000,000 | 300,000,000 |
Common stock, number of shares issued | 222,950,751 | 220,723,876 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income: | ' | ' | ' | ' |
Interest and fees on loans | $520,516 | $528,116 | $1,029,022 | $1,067,870 |
Interest on investment securities available for sale | 48,253 | 44,131 | 97,343 | 91,655 |
Interest on investment securities held to maturity | 7,003 | 7,686 | 14,249 | 15,431 |
Interest on federal funds sold, securities purchased under agreements to resell and interest bearing deposits | 42 | 59 | 89 | 99 |
Interest on trading account assets | 578 | 778 | 1,094 | 1,516 |
Total interest income | 576,392 | 580,770 | 1,141,797 | 1,176,571 |
Interest expense: | ' | ' | ' | ' |
Interest on deposits | 60,901 | 53,779 | 114,117 | 110,190 |
Interest on FHLB and other borrowings | 16,184 | 16,149 | 32,548 | 31,941 |
Interest on federal funds purchased and securities sold under agreements to repurchase | 437 | 551 | 937 | 1,131 |
Interest on other short-term borrowings | 96 | -24 | 122 | 48 |
Total interest expense | 77,618 | 70,455 | 147,724 | 143,310 |
Net interest income | 498,774 | 510,315 | 994,073 | 1,033,261 |
Provision for loan losses | 45,252 | 24,237 | 82,518 | 43,852 |
Net interest income after provision for loan losses | 453,522 | 486,078 | 911,555 | 989,409 |
Noninterest income: | ' | ' | ' | ' |
Service charges on deposit accounts | 54,958 | 54,884 | 108,349 | 110,372 |
Card and merchant processing fees | 28,473 | 26,113 | 52,777 | 50,737 |
Retail investment sales | 28,844 | 25,311 | 55,408 | 49,690 |
Asset management fees | 10,535 | 10,636 | 21,293 | 20,705 |
Corporate and correspondent investment sales | 7,972 | 9,547 | 16,628 | 18,943 |
Mortgage banking income | 6,150 | 13,141 | 10,426 | 24,611 |
Bank owned life insurance | 4,237 | 4,274 | 8,204 | 8,679 |
Investment securities gains, net | 21,464 | 18,075 | 37,898 | 33,030 |
Gain (loss) on prepayment of FHLB and other borrowings | 0 | 22,882 | -458 | 21,775 |
Other | 72,812 | 64,150 | 144,248 | 115,848 |
Total noninterest income | 235,445 | 249,013 | 454,773 | 454,390 |
Noninterest expense: | ' | ' | ' | ' |
Salaries, benefits and commissions | 263,301 | 247,905 | 525,870 | 499,228 |
FDIC indemnification expense | 30,370 | 70,335 | 61,988 | 156,642 |
Equipment | 55,469 | 50,891 | 109,207 | 98,506 |
Professional services | 49,790 | 49,729 | 96,189 | 89,003 |
Net occupancy | 40,200 | 40,471 | 79,157 | 78,365 |
Amortization of intangibles | 13,631 | 15,462 | 26,165 | 31,502 |
Securities impairment: | ' | ' | ' | ' |
Other-than-temporary impairment | 34 | 2,750 | 415 | 2,750 |
Less: non-credit portion recognized in other comprehensive income | 0 | 2,288 | 235 | 2,288 |
Total securities impairment | 34 | 462 | 180 | 462 |
Other | 92,467 | 79,445 | 165,373 | 146,657 |
Total noninterest expense | 545,262 | 554,700 | 1,064,129 | 1,100,365 |
Net income before income tax expense | 143,705 | 180,391 | 302,199 | 343,434 |
Income tax expense | 36,130 | 51,596 | 79,697 | 104,103 |
Net income | 107,575 | 128,795 | 222,502 | 239,331 |
Less: net income attributable to noncontrolling interests | 504 | 568 | 957 | 961 |
Net income attributable to shareholder | $107,071 | $128,227 | $221,545 | $238,370 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $107,575 | $128,795 | $222,502 | $239,331 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during period from securities available for sale | 25,915 | -89,177 | 52,155 | -92,317 |
Less: reclassification adjustment for net gains on sale of securities available for sale in net income | 13,752 | 11,452 | 24,278 | 20,941 |
Net change in unrealized holding gains (losses) on securities available for sale | 12,163 | -100,629 | 27,877 | -113,258 |
Change in unamortized net holding losses on investment securities held to maturity | 1,727 | 3,668 | 4,785 | 6,045 |
Less: non-credit related impairment on investment securities held to maturity | 0 | 1,450 | 151 | 1,450 |
Change in unamortized non-credit related impairment on investment securities held to maturity | 237 | 45 | 483 | 1,086 |
Net change in unamortized holding losses on securities held to maturity | 1,964 | 2,263 | 5,117 | 5,681 |
Unrealized holding gains (losses) arising during period from cash flow hedge instruments | -875 | 4,882 | -1,682 | 6,265 |
Change in defined benefit plans | 0 | 36 | -1,671 | 680 |
Other comprehensive income (loss), net of tax | 13,252 | -93,448 | 29,641 | -100,632 |
Comprehensive income | 120,827 | 35,347 | 252,143 | 138,699 |
Less: comprehensive income attributable to noncontrolling interests | 504 | 568 | 957 | 961 |
Comprehensive income attributable to shareholder | $120,323 | $34,779 | $251,186 | $137,738 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Shareholder's Equity (Unaudited) (USD $) | Total | Common Stock | Surplus | Retained Deficit | Accumulated Other Comprehensive Income (Loss) | Non-controlling Interests |
In Thousands, unless otherwise specified | ||||||
Balance, beginning of period at Dec. 31, 2012 | $11,083,573 | $2,173 | $15,172,910 | ($4,146,573) | $26,058 | $29,005 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | 239,331 | ' | ' | 238,370 | ' | 961 |
Other comprehensive income (loss), net of tax | -100,632 | ' | ' | ' | -100,632 | ' |
Issuance of common stock | 100,000 | 34 | 99,966 | ' | ' | ' |
Dividends | -1,036 | ' | ' | ' | ' | -1,036 |
Vesting of restricted stock | -5,594 | ' | -5,594 | ' | ' | ' |
Restricted stock retained to cover taxes | -2,174 | ' | -2,174 | ' | ' | ' |
Amortization of stock-based deferred compensation | 1,608 | ' | 1,608 | ' | ' | ' |
Balance, end of period at Jun. 30, 2013 | 11,315,076 | 2,207 | 15,266,716 | -3,908,203 | -74,574 | 28,930 |
Balance, beginning of period at Dec. 31, 2013 | 11,487,759 | 2,207 | 15,273,218 | -3,728,737 | -87,936 | 29,007 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | 222,502 | ' | ' | 221,545 | ' | 957 |
Other comprehensive income (loss), net of tax | 29,641 | ' | ' | ' | 29,641 | ' |
Issuance of common stock | 117,000 | 23 | 116,977 | ' | ' | ' |
Dividends | -1,036 | ' | ' | ' | ' | -1,036 |
Vesting of restricted stock | -4,702 | ' | -4,702 | ' | ' | ' |
Restricted stock retained to cover taxes | -2,507 | ' | -2,507 | ' | ' | ' |
Amortization of stock-based deferred compensation | 881 | ' | 881 | ' | ' | ' |
Balance, end of period at Jun. 30, 2014 | $11,849,538 | $2,230 | $15,383,867 | ($3,507,192) | ($58,295) | $28,928 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Activities: | ' | ' |
Net income | $222,502 | $239,331 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 133,334 | 86,010 |
Securities impairment | 180 | 462 |
Amortization of intangibles | 26,165 | 31,502 |
Accretion of discount, loan fees and purchase market adjustments, net | -94,032 | -112,028 |
Net change in FDIC indemnification asset/liability | 61,988 | 156,642 |
Provision for loan losses | 82,518 | 43,852 |
Amortization of stock based compensation | 881 | 1,608 |
Net change in trading account assets | -36,959 | 134,122 |
Net change in trading account liabilities | 3,569 | -160,486 |
Net change in loans held for sale | -64,770 | 173,964 |
Deferred tax expense | 8,936 | 35,443 |
Investment securities gains, net | -37,898 | -33,030 |
(Gain) loss on prepayment of FHLB and other borrowings | 458 | -21,775 |
Loss on sale of premises and equipment | 863 | 1,078 |
Loss on sale of student loans | 75 | 0 |
Net loss on sale of other real estate and other assets | 3,613 | 3,459 |
Loss on disposition | 981 | 0 |
Increase in other assets | -47,341 | -64,652 |
Decrease in other liabilities | -2,342 | -34,062 |
Net cash provided by operating activities | 262,721 | 481,440 |
Investing Activities: | ' | ' |
Proceeds from sales of investment securities available for sale | 782,629 | 801,060 |
Proceeds from prepayments, maturities and calls of investment securities available for sale | 658,008 | 1,092,549 |
Purchases of investment securities available for sale | -2,062,781 | -2,463,945 |
Proceeds from prepayments, maturities and calls of investment securities held to maturity | 79,146 | 125,484 |
Purchases of investment securities held to maturity | 0 | -185,461 |
Net change in loan portfolio | -3,499,733 | -2,506,062 |
Purchase of premises and equipment | -36,455 | -73,126 |
Proceeds from sale of premises and equipment | 11,181 | 5,073 |
Net cash paid in acquisition | -97,566 | 0 |
Proceeds from sales of loans | 96,199 | 113,958 |
Payments to FDIC for covered losses | -6,611 | -17,840 |
Proceeds from sales of other real estate owned | 10,116 | 32,531 |
Net cash used in investing activities | -4,065,867 | -3,075,779 |
Financing Activities: | ' | ' |
Net increase in demand deposits, NOW accounts and savings accounts | 2,602,535 | 997,952 |
Net increase in time deposits | 1,077,027 | -383,281 |
Net increase in federal funds purchased and securities sold under agreements to repurchase | 11,693 | -229,902 |
Net increase in other short-term borrowings | 10,114 | 13,291 |
Proceeds from FHLB and other borrowings | 0 | 405,000 |
Repayment of FHLB and other borrowings | -341,236 | -343,505 |
Vesting of restricted stock | -4,702 | -5,594 |
Restricted stock grants retained to cover taxes | -2,507 | -2,174 |
Issuance of common stock | 117,000 | 100,000 |
Preferred dividends paid | -1,036 | -1,036 |
Net cash provided by financing activities | 3,468,888 | 550,751 |
Net decrease in cash and cash equivalents | -334,258 | -2,043,588 |
Cash and cash equivalents at beginning of year | 3,598,460 | 6,158,442 |
Cash and cash equivalents at end of period | $3,264,202 | $4,114,854 |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
General | |
The accounting and reporting policies of the Company and the methods of applying those policies that materially affect the consolidated financial statements conform with U.S. GAAP and with general financial services industry practices. The accompanying interim financial statements have been prepared in accordance with the rules and regulations of the SEC and, therefore, do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows in conformity with U.S. GAAP. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the consolidated financial statements have been included. Operating results for the three and six months ended June 30, 2014, are not necessarily indicative of the results that may be expected for the year ended December 31, 2014. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s Annual Report on Form 10-K for the year-ended December 31, 2013. | |
The Company has evaluated subsequent events for potential recognition and disclosure through the filing date of this Quarterly Report on Form 10-Q, to determine if either recognition or disclosure of significant events or transactions is required. | |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period, the most significant of which relate to the allowance for loan losses, goodwill impairment, fair value measurements and income taxes. Actual results could differ from those estimates. | |
Correction of Accounting Error | |
During the three months ended June 30, 2013, provision for loan losses included a $20.4 million benefit related to the correction of an error in a prior period that resulted from a calculation by the Company of an adjustment to the allowance for loan losses for commercial loans less than $1 million. This error primarily related to the second quarter of 2012 and was corrected in the second quarter of 2013. | |
The Company has evaluated the effect of this correction on prior annual periods' consolidated financial statements in accordance with the guidance provided by SEC Staff Accounting Bulletin No. 108, codified as SAB Topic 1.N, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements, and concluded that no prior annual period is materially misstated. | |
Recently Issued Accounting Standards | |
Obligations Resulting from Joint and Several Liability Arrangements with Fixed Obligations | |
In February 2013, the FASB released ASU 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force), which provides guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. Examples of obligations within the scope of this ASU include debt arrangements, other contractual obligations, and settled litigation and judicial rulings. The guidance in this ASU requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date as the sum of (a) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (b) any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this ASU also requires an entity to disclose the nature and amount of the obligations as well as other information about those obligations. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, with retrospective application and was adopted by the Company on January 1, 2014. The adoption of this standard did not have a material impact on the financial condition or results of operations of the Company. | |
Presentation of Unrecognized Tax Benefits | |
In July 2013, the FASB released ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The ASU requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. However, if a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013 and was adopted by the Company on January 1, 2014. The adoption of this standard did not have a material impact on the financial condition or results of operations of the Company. | |
Accounting for Investments in Qualified Affordable Housing Projects | |
In January 2014, the FASB released ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects. The ASU provides guidance on accounting for investments by a reporting entity in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low income housing tax credit. The amendments in this ASU permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense. The amendments in this ASU should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Early adoption is permitted and the Company elected to early adopt the amendments in this ASU on January 1, 2014. The adoption of this standard did not have a material impact on the financial condition or results of operations of the Company. | |
Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure | |
In January 2014, the FASB released ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, 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 to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this ASU using either a modified retrospective transition method or a prospective transition method. The adoption of this standard is not expected to have a material impact on the financial condition or results of operations of the Company. | |
Revenue from Contracts with Customers | |
In May 2014, the FASB released ASU 2014-09, Revenue from Contracts with Customers. The core principle of this guidance requires an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides five steps to be analyzed to accomplish the core principle. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016. Early application is not permitted. The Company is currently assessing the impact that the adoption of this standard will have on the financial condition and results of operations of the Company. | |
Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures | |
In June 2014, the FASB issued ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this ASU change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. In addition, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments in this ASU also require disclosures on transfers accounted for as sales in transactions that are economically similar to repurchase agreements, and provide increased transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The accounting changes in this ASU and disclosures for certain transactions accounted for as a sale are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014 and for interim periods beginning after March 15, 2015. The adoption of this standard is not expected to have a material impact on the financial condition or results of operations of the Company. |
Acquisition_Activities
Acquisition Activities | 6 Months Ended |
Jun. 30, 2014 | |
Business Combinations [Abstract] | ' |
Acquisition Activities | ' |
Acquisition Activities | |
Acquisition Activity | |
BBVA Securities Inc. | |
On April 8, 2013, BBVA contributed all of the outstanding stock of its wholly-owned subsidiary, BSI, to the Parent. BSI is a registered broker-dealer and engages in investment banking and institutional sales of fixed income securities. Because of the related nature of the Company and BSI, this transaction was accounted for as a merger of entities under common control resulting in all periods prior to the transaction being retrospectively adjusted to include the historical activity of BSI. | |
Simple Finance Technology Corp | |
On March 20, 2014, the Company acquired all of the voting equity interest of Simple, a U.S. based digital banking services firm. The Company acquired assets of approximately $2 million (including cash, premises and equipment, and other assets), assumed liabilities of approximately $2 million (including accounts payable, accrued payroll and other liabilities), and recorded goodwill of $106 million and other intangible assets of $13 million. Consideration for the acquisition included $98 million in cash as well as $16 million of contingent consideration. The Company recognized $3.5 million of acquisition-related costs in noninterest expense in the Company's Unaudited Condensed Consolidated Statement of Income for the six months ended June 30, 2014. The revenues and earnings of Simple were not material for the three and six months ended June 30, 2014. | |
This acquisition was accounted for under the acquisition method in accordance with FASB ASC Topic 805. Accordingly, the assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the acquisition date. Due to the timing of the closing of the acquisition, the fair values of other intangibles recorded are subject to adjustment as additional information becomes available to indicate a more accurate or appropriate fair value for the intangibles during the measurement period, which is not to exceed one year from the acquisition date. |
Investment_Securities_Availabl
Investment Securities Available for Sale and Investment Securities Held to Maturity | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Investment Securities Available for Sale and Investment Securities Held to Maturity | ' | |||||||||||||||||||||||
Investment Securities Available for Sale and Investment Securities Held to Maturity | ||||||||||||||||||||||||
The following table presents the adjusted cost and approximate fair value of investment securities available for sale and investment securities held to maturity. | ||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Gross Unrealized | ||||||||||||||||||||||||
Amortized Cost | Gains | Losses | Fair Value | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 570,472 | $ | 4,332 | $ | 3,772 | $ | 571,032 | ||||||||||||||||
Mortgage-backed securities | 4,983,938 | 72,018 | 48,475 | 5,007,481 | ||||||||||||||||||||
Collateralized mortgage obligations | 2,337,928 | 23,891 | 4,194 | 2,357,625 | ||||||||||||||||||||
States and political subdivisions | 494,507 | 8,957 | 5,474 | 497,990 | ||||||||||||||||||||
Other | 36,939 | 179 | 24 | 37,094 | ||||||||||||||||||||
Equity securities | 500,954 | 61 | — | 501,015 | ||||||||||||||||||||
Total | $ | 8,924,738 | $ | 109,438 | $ | 61,939 | $ | 8,972,237 | ||||||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 136,166 | $ | 6,998 | $ | 5,191 | $ | 137,973 | ||||||||||||||||
Asset-backed securities | 54,816 | 4,110 | 3,682 | 55,244 | ||||||||||||||||||||
States and political subdivisions | 1,180,162 | 1,635 | 100,040 | 1,081,757 | ||||||||||||||||||||
Other | 77,048 | 6,891 | 2,114 | 81,825 | ||||||||||||||||||||
Total | $ | 1,448,192 | $ | 19,634 | $ | 111,027 | $ | 1,356,799 | ||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Gross Unrealized | ||||||||||||||||||||||||
Amortized Cost | Gains | Losses | Fair Value | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 257,844 | $ | 4,338 | $ | 1,245 | $ | 260,937 | ||||||||||||||||
Mortgage-backed securities | 5,232,504 | 75,912 | 74,625 | 5,233,791 | ||||||||||||||||||||
Collateralized mortgage obligations | 1,747,450 | 23,312 | 14,364 | 1,756,398 | ||||||||||||||||||||
States and political subdivisions | 518,755 | 8,041 | 17,360 | 509,436 | ||||||||||||||||||||
Other | 40,415 | 27 | 109 | 40,333 | ||||||||||||||||||||
Equity securities | 512,136 | 54 | — | 512,190 | ||||||||||||||||||||
Total | $ | 8,309,104 | $ | 111,684 | $ | 107,703 | $ | 8,313,085 | ||||||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 145,989 | $ | 19,848 | $ | 3,900 | $ | 161,937 | ||||||||||||||||
Asset-backed securities | 67,590 | 4,008 | 6,183 | 65,415 | ||||||||||||||||||||
States and political subdivisions | 1,225,977 | 843 | 139,816 | 1,087,004 | ||||||||||||||||||||
Other | 79,640 | 13,191 | 1,929 | 90,902 | ||||||||||||||||||||
Total | $ | 1,519,196 | $ | 37,890 | $ | 151,828 | $ | 1,405,258 | ||||||||||||||||
In the above table, equity securities include $501 million and $512 million at June 30, 2014 and December 31, 2013, respectively, of FHLB and Federal Reserve stock carried at par. | ||||||||||||||||||||||||
The investments held within the states and political subdivision caption of investment securities held to maturity relate to private placement transactions underwritten as loans by the Company but that meet the definition of a security within ASC Topic 320, Investments – Debt and Equity Securities. | ||||||||||||||||||||||||
The following table discloses the fair value and the gross unrealized losses of the Company’s available for sale securities and held to maturity securities that were in a loss position at June 30, 2014 and December 31, 2013. This information is aggregated by investment category and the length of time the individual securities have been in an unrealized loss position. | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Securities in a loss position for less than 12 months | Securities in a loss position for 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 337,358 | $ | 3,772 | $ | — | $ | — | $ | 337,358 | $ | 3,772 | ||||||||||||
Mortgage-backed securities | 107,404 | 1,027 | 2,236,173 | 47,448 | 2,343,577 | 48,475 | ||||||||||||||||||
Collateralized mortgage obligations | 331,462 | 947 | 174,054 | 3,247 | 505,516 | 4,194 | ||||||||||||||||||
States and political subdivisions | 24,910 | 141 | 198,092 | 5,333 | 223,002 | 5,474 | ||||||||||||||||||
Other | — | — | 1,098 | 24 | 1,098 | 24 | ||||||||||||||||||
Total | $ | 801,134 | $ | 5,887 | $ | 2,609,417 | $ | 56,052 | $ | 3,410,551 | $ | 61,939 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 28,987 | $ | 695 | $ | 29,456 | $ | 4,496 | $ | 58,443 | $ | 5,191 | ||||||||||||
Asset-backed securities | — | — | 26,549 | 3,682 | 26,549 | 3,682 | ||||||||||||||||||
States and political subdivisions | 2,326 | 92 | 883,818 | 99,948 | 886,144 | 100,040 | ||||||||||||||||||
Other | — | — | 4,071 | 2,114 | 4,071 | 2,114 | ||||||||||||||||||
Total | $ | 31,313 | $ | 787 | $ | 943,894 | $ | 110,240 | $ | 975,207 | $ | 111,027 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Securities in a loss position for less than 12 months | Securities in a loss position for 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 119,871 | $ | 1,245 | $ | — | $ | — | $ | 119,871 | $ | 1,245 | ||||||||||||
Mortgage-backed securities | 2,462,822 | 69,919 | 339,448 | 4,706 | 2,802,270 | 74,625 | ||||||||||||||||||
Collateralized mortgage obligations | 699,693 | 9,123 | 108,710 | 5,241 | 808,403 | 14,364 | ||||||||||||||||||
States and political subdivisions | 164,472 | 9,244 | 92,407 | 8,116 | 256,879 | 17,360 | ||||||||||||||||||
Other | 4,939 | 109 | — | — | 4,939 | 109 | ||||||||||||||||||
Total | $ | 3,451,797 | $ | 89,640 | $ | 540,565 | $ | 18,063 | $ | 3,992,362 | $ | 107,703 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 1,466 | $ | 17 | $ | 32,370 | $ | 3,883 | $ | 33,836 | $ | 3,900 | ||||||||||||
Asset-backed securities | — | — | 33,362 | 6,183 | 33,362 | 6,183 | ||||||||||||||||||
States and political subdivisions | 313,438 | 26,760 | 642,799 | 113,056 | 956,237 | 139,816 | ||||||||||||||||||
Other | — | — | 4,600 | 1,929 | 4,600 | 1,929 | ||||||||||||||||||
Total | $ | 314,904 | $ | 26,777 | $ | 713,131 | $ | 125,051 | $ | 1,028,035 | $ | 151,828 | ||||||||||||
As noted in the previous tables, at June 30, 2014, the Company held certain investment securities in unrealized loss positions. The Company does not have the intent to sell these securities and believes it is not more likely than not that it will be required to sell these securities before their anticipated recovery. | ||||||||||||||||||||||||
The Company regularly evaluates each available for sale and held to maturity security in a loss position for OTTI. In its evaluation, the Company considers such factors as the length of time and the extent to which the fair value has been below cost, the financial condition of the issuer, the Company’s intent to hold the security to an expected recovery in market value and whether it is more likely than not that the Company will have to sell the security before its fair value recovers. Activity related to the credit loss component of the OTTI is recognized in earnings. The portion of OTTI related to all other factors is recognized in other comprehensive income. | ||||||||||||||||||||||||
Management does not believe that any individual unrealized loss in the Company’s investment securities available for sale or held to maturity portfolios, presented in the preceding tables, represents an OTTI at either June 30, 2014 or December 31, 2013, other than those noted below. | ||||||||||||||||||||||||
The following table discloses activity related to credit losses for debt securities where a portion of the OTTI was recognized in other comprehensive income. | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance at beginning of period | $ | 21,089 | $ | 17,318 | $ | 20,943 | $ | 17,318 | ||||||||||||||||
Reductions for securities paid off during the period (realized) | — | (239 | ) | — | (239 | ) | ||||||||||||||||||
Additions for the credit component on debt securities in which OTTI was not previously recognized | — | — | — | — | ||||||||||||||||||||
Additions for the credit component on debt securities in which OTTI was previously recognized | 34 | 462 | 180 | 462 | ||||||||||||||||||||
Balance at end of period | $ | 21,123 | $ | 17,541 | $ | 21,123 | $ | 17,541 | ||||||||||||||||
For the three months ended June 30, 2014 and 2013, OTTI recognized on held to maturity securities totaled $34 thousand and $462 thousand, respectively. For the six months ended June 30, 2014 and 2013, OTTI recognized on held to maturity securities totaled $180 thousand and $462 thousand, respectively. The investment securities primarily impacted by credit impairment are held to maturity non-agency collateralized mortgage obligations and asset-backed securities. | ||||||||||||||||||||||||
The maturities of the securities portfolios are presented in the following table. | ||||||||||||||||||||||||
June 30, 2014 | Amortized Cost | Fair Value | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Maturing within one year | $ | 51,171 | $ | 52,280 | ||||||||||||||||||||
Maturing after one but within five years | 103,113 | 107,335 | ||||||||||||||||||||||
Maturing after five but within ten years | 176,007 | 179,619 | ||||||||||||||||||||||
Maturing after ten years | 771,627 | 766,882 | ||||||||||||||||||||||
1,101,918 | 1,106,116 | |||||||||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations | 7,321,866 | 7,365,106 | ||||||||||||||||||||||
Equity securities | 500,954 | 501,015 | ||||||||||||||||||||||
Total | $ | 8,924,738 | $ | 8,972,237 | ||||||||||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Maturing within one year | $ | 30,013 | $ | 29,674 | ||||||||||||||||||||
Maturing after one but within five years | 290,161 | 274,065 | ||||||||||||||||||||||
Maturing after five but within ten years | 234,765 | 224,153 | ||||||||||||||||||||||
Maturing after ten years | 757,087 | 690,934 | ||||||||||||||||||||||
1,312,026 | 1,218,826 | |||||||||||||||||||||||
Collateralized mortgage obligations | 136,166 | 137,973 | ||||||||||||||||||||||
Total | $ | 1,448,192 | $ | 1,356,799 | ||||||||||||||||||||
The gross realized gains and losses recognized on sales of investment securities available for sale are shown in the table below. | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Gross gains | $ | 21,464 | $ | 18,075 | $ | 37,898 | $ | 33,030 | ||||||||||||||||
Gross losses | — | — | — | — | ||||||||||||||||||||
Net realized gains | $ | 21,464 | $ | 18,075 | $ | 37,898 | $ | 33,030 | ||||||||||||||||
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | |||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ||||||||||||||||||||||||||||||||
The following table presents the composition of the loan portfolio. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 22,365,829 | $ | 20,209,209 | ||||||||||||||||||||||||||||
Real estate – construction | 1,792,180 | 1,736,348 | ||||||||||||||||||||||||||||||
Commercial real estate – mortgage | 9,461,092 | 9,106,329 | ||||||||||||||||||||||||||||||
Total commercial loans | 33,619,101 | 31,051,886 | ||||||||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||||||
Residential real estate – mortgage | 13,356,040 | 12,706,879 | ||||||||||||||||||||||||||||||
Equity lines of credit | 2,238,451 | 2,236,367 | ||||||||||||||||||||||||||||||
Equity loans | 609,794 | 644,068 | ||||||||||||||||||||||||||||||
Credit card | 636,904 | 660,073 | ||||||||||||||||||||||||||||||
Consumer – direct | 563,949 | 516,572 | ||||||||||||||||||||||||||||||
Consumer – indirect | 2,448,402 | 2,116,981 | ||||||||||||||||||||||||||||||
Total consumer loans | 19,853,540 | 18,880,940 | ||||||||||||||||||||||||||||||
Covered loans | 613,152 | 734,190 | ||||||||||||||||||||||||||||||
Total loans | $ | 54,085,793 | $ | 50,667,016 | ||||||||||||||||||||||||||||
Purchased Impaired Loans | ||||||||||||||||||||||||||||||||
Purchased Impaired Loans are recognized on the Company's Unaudited Condensed Consolidated Balance Sheets within loans, net of recorded discount. The following table presents the unpaid principal balance, discount, allowance for loan losses and carrying value of the Purchased Impaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Unpaid principal balance | $ | 414,652 | $ | 449,429 | ||||||||||||||||||||||||||||
Discount | (33,216 | ) | (60,069 | ) | ||||||||||||||||||||||||||||
Allowance for loan losses | (8,161 | ) | (243 | ) | ||||||||||||||||||||||||||||
Carrying value | $ | 373,275 | $ | 389,117 | ||||||||||||||||||||||||||||
An analysis of the accretable yield related to the Purchased Impaired Loans follows. | ||||||||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 105,698 | $ | 136,992 | ||||||||||||||||||||||||||||
Transfer from nonaccretable difference | 6,633 | 25,362 | ||||||||||||||||||||||||||||||
Accretion | (29,405 | ) | (34,547 | ) | ||||||||||||||||||||||||||||
Other | — | 2,370 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 82,926 | $ | 130,177 | ||||||||||||||||||||||||||||
The Company had allowances of $8.2 million and $243 thousand related to Purchased Impaired Loans at June 30, 2014 and December 31, 2013, respectively. During the three months ended June 30, 2014 and 2013, the Company recognized $2.5 million and $627 thousand, respectively, of provision for loan losses attributable to credit deterioration subsequent to acquisition of these loans. During the six months ended June 30, 2014 and 2013, the Company recognized $4.6 million and $(4.6) million, respectively, of provision for loan losses attributable to credit (improvements) deterioration subsequent to acquisition of these loans. | ||||||||||||||||||||||||||||||||
Purchased Nonimpaired Loans | ||||||||||||||||||||||||||||||||
At acquisition, Purchased Nonimpaired Loans were determined to have fair value discounts, some of which were related to credit. The portion of the fair value discount not related to credit is being accreted to interest income over the expected remaining life of the loans based on expected cash flows. For the three months ended June 30, 2014 and 2013 approximately $35.4 million and $76.8 million, respectively, of interest income was recognized on these loans. For the six months ended June 30, 2014 and 2013 approximately $73.2 million and $170.1 million, respectively, of interest income was recognized on these loans. The discount related to credit on the Purchased Nonimpaired Loans is reviewed for adequacy at each balance sheet date. If the expected losses exceed the credit discount, an allowance for loan losses is provided. If the expected losses are reduced, the related credit discount is accreted to interest income over the expected remaining life of the loans. | ||||||||||||||||||||||||||||||||
The following table presents the unpaid principal balance, discount, allowance for loan losses, and carrying value of the Purchased Nonimpaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Unpaid principal balance | $ | 368,036 | $ | 520,723 | ||||||||||||||||||||||||||||
Discount | (136,320 | ) | (175,893 | ) | ||||||||||||||||||||||||||||
Allowance for loan losses | (3,390 | ) | (2,711 | ) | ||||||||||||||||||||||||||||
Carrying value | $ | 228,326 | $ | 342,119 | ||||||||||||||||||||||||||||
The following table reflects the recorded investment in all covered Purchased Impaired Loans and Purchased Nonimpaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
Purchased Impaired Loans | Purchased Nonimpaired Loans | Total Covered Loans | Purchased Impaired Loans | Purchased Nonimpaired Loans | Total Covered Loans | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | — | $ | 45,712 | $ | 45,712 | $ | — | $ | 40,892 | $ | 40,892 | ||||||||||||||||||||
Commercial real estate (1) | 3,358 | 34,831 | 38,189 | 4,760 | 141,333 | 146,093 | ||||||||||||||||||||||||||
Residential real estate – mortgage (2) | 378,078 | 144,591 | 522,669 | 384,588 | 155,452 | 540,040 | ||||||||||||||||||||||||||
Consumer loans | — | 6,582 | 6,582 | 12 | 7,153 | 7,165 | ||||||||||||||||||||||||||
Total loans | $ | 381,436 | $ | 231,716 | $ | 613,152 | $ | 389,360 | $ | 344,830 | $ | 734,190 | ||||||||||||||||||||
-1 | Includes real estate – construction and commercial real estate - mortgage. | |||||||||||||||||||||||||||||||
-2 | Includes residential real estate – mortgage, equity lines of credit and equity loans. | |||||||||||||||||||||||||||||||
FDIC Indemnification Asset (Liability) | ||||||||||||||||||||||||||||||||
The Company has entered into loss sharing agreements with the FDIC that require the FDIC to reimburse the Bank for losses with respect to covered loans and covered OREO. See Note 8, Commitments, Contingencies and Guarantees, for additional information related to the loss sharing agreements. A summary of the activity in the FDIC indemnification asset (liability) is presented in the following table. | ||||||||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 24,315 | $ | 271,928 | ||||||||||||||||||||||||||||
Increase (decrease) due to credit loss provision (benefit) recorded on FDIC covered loans | 8,726 | (6,616 | ) | |||||||||||||||||||||||||||||
Amortization | (67,212 | ) | (149,033 | ) | ||||||||||||||||||||||||||||
Payments to FDIC for covered losses | 6,611 | 17,840 | ||||||||||||||||||||||||||||||
Other | (3,502 | ) | (993 | ) | ||||||||||||||||||||||||||||
Balance at end of period | $ | (31,062 | ) | $ | 133,126 | |||||||||||||||||||||||||||
Other adjustments include those resulting from the change in loss estimates related to OREO as a result of changes in expected cash flows as well as adjustments resulting from amounts owed to the FDIC for unexpected recoveries of amounts previously charged off and loan expenses incurred and claimed. | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Credit Quality | ||||||||||||||||||||||||||||||||
The following table, which excludes loans held for sale, presents a summary of the activity in the allowance for loan losses. The portion of the allowance that has not been identified by the Company as related to specific loan categories has been allocated to the individual loan categories on a pro rata basis for purposes of the table below: | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Commercial Real Estate (1) | Residential Real Estate (2) | Consumer (3) | Covered | Total Loans | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 299,879 | $ | 153,130 | $ | 155,234 | $ | 91,357 | $ | 8,065 | $ | 707,665 | ||||||||||||||||||||
Provision charged to income | 29,495 | (5,057 | ) | 8,039 | 12,969 | (194 | ) | 45,252 | ||||||||||||||||||||||||
Loans charged off | (15,517 | ) | (7,305 | ) | (13,861 | ) | (20,669 | ) | (791 | ) | (58,143 | ) | ||||||||||||||||||||
Loan recoveries | 3,933 | 2,173 | 4,282 | 5,127 | 4,471 | 19,986 | ||||||||||||||||||||||||||
Net charge offs | (11,584 | ) | (5,132 | ) | (9,579 | ) | (15,542 | ) | 3,680 | (38,157 | ) | |||||||||||||||||||||
Ending balance | $ | 317,790 | $ | 142,941 | $ | 153,694 | $ | 88,784 | $ | 11,551 | $ | 714,760 | ||||||||||||||||||||
Three months ended June 30, 2013 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 304,841 | $ | 227,370 | $ | 164,402 | $ | 77,331 | $ | 12,074 | $ | 786,018 | ||||||||||||||||||||
Provision charged to income | (2,431 | ) | (30,585 | ) | 40,883 | 18,807 | (2,437 | ) | 24,237 | |||||||||||||||||||||||
Loans charged off | (16,889 | ) | (21,125 | ) | (49,313 | ) | (16,849 | ) | (2,156 | ) | (106,332 | ) | ||||||||||||||||||||
Loan recoveries | 4,667 | 6,953 | 2,821 | 4,413 | 734 | 19,588 | ||||||||||||||||||||||||||
Net charge offs | (12,222 | ) | (14,172 | ) | (46,492 | ) | (12,436 | ) | (1,422 | ) | (86,744 | ) | ||||||||||||||||||||
Ending balance | $ | 290,188 | $ | 182,613 | $ | 158,793 | $ | 83,702 | $ | 8,215 | $ | 723,511 | ||||||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 292,327 | $ | 158,960 | $ | 155,575 | $ | 90,903 | $ | 2,954 | $ | 700,719 | ||||||||||||||||||||
Provision charged to income | 36,996 | (9,779 | ) | 20,712 | 29,798 | 4,791 | 82,518 | |||||||||||||||||||||||||
Loans charged off | (20,451 | ) | (9,951 | ) | (29,569 | ) | (42,373 | ) | (1,007 | ) | (103,351 | ) | ||||||||||||||||||||
Loan recoveries | 8,918 | 3,711 | 6,976 | 10,456 | 4,813 | 34,874 | ||||||||||||||||||||||||||
Net charge offs | (11,533 | ) | (6,240 | ) | (22,593 | ) | (31,917 | ) | 3,806 | (68,477 | ) | |||||||||||||||||||||
Ending balance | $ | 317,790 | $ | 142,941 | $ | 153,694 | $ | 88,784 | $ | 11,551 | $ | 714,760 | ||||||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 283,058 | $ | 254,324 | $ | 172,265 | $ | 75,403 | $ | 17,803 | $ | 802,853 | ||||||||||||||||||||
Provision charged to income | 20,477 | (56,414 | ) | 53,847 | 33,629 | (7,687 | ) | 43,852 | ||||||||||||||||||||||||
Loans charged off | (23,211 | ) | (27,743 | ) | (72,293 | ) | (35,070 | ) | (3,425 | ) | (161,742 | ) | ||||||||||||||||||||
Loan recoveries | 9,864 | 12,446 | 4,974 | 9,740 | 1,524 | 38,548 | ||||||||||||||||||||||||||
Net charge offs | (13,347 | ) | (15,297 | ) | (67,319 | ) | (25,330 | ) | (1,901 | ) | (123,194 | ) | ||||||||||||||||||||
Ending balance | $ | 290,188 | $ | 182,613 | $ | 158,793 | $ | 83,702 | $ | 8,215 | $ | 723,511 | ||||||||||||||||||||
-1 | Includes commercial real estate – mortgage and real estate – construction loans. | |||||||||||||||||||||||||||||||
-2 | Includes residential real estate – mortgage, equity lines of credit and equity loans. | |||||||||||||||||||||||||||||||
-3 | Includes credit card, consumer – direct and consumer – indirect loans. | |||||||||||||||||||||||||||||||
The table below provides a summary of the allowance for loan losses and related loan balances by portfolio. | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Commercial Real Estate (1) | Residential Real Estate (2) | Consumer (3) | Covered | Total Loans | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Ending balance of allowance attributable to loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 19,106 | $ | 6,617 | $ | 39,693 | $ | 1,188 | $ | — | $ | 66,604 | ||||||||||||||||||||
Collectively evaluated for impairment | 298,684 | 136,324 | 114,001 | 87,596 | — | 636,605 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 8,161 | 8,161 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 3,390 | 3,390 | ||||||||||||||||||||||||||
Total allowance for loan losses | $ | 317,790 | $ | 142,941 | $ | 153,694 | $ | 88,784 | $ | 11,551 | $ | 714,760 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance of loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 67,159 | $ | 119,667 | $ | 190,224 | $ | 1,472 | $ | — | $ | 378,522 | ||||||||||||||||||||
Collectively evaluated for impairment | 22,298,670 | 11,133,605 | 16,014,061 | 3,647,783 | — | 53,094,119 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 381,436 | 381,436 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 231,716 | 231,716 | ||||||||||||||||||||||||||
Total loans | $ | 22,365,829 | $ | 11,253,272 | $ | 16,204,285 | $ | 3,649,255 | $ | 613,152 | $ | 54,085,793 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Ending balance of allowance attributable to loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 28,828 | $ | 9,408 | $ | 41,989 | $ | 1,526 | $ | — | $ | 81,751 | ||||||||||||||||||||
Collectively evaluated for impairment | 263,499 | 149,552 | 113,586 | 89,377 | — | 616,014 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 243 | 243 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 2,711 | 2,711 | ||||||||||||||||||||||||||
Total allowance for loan losses | $ | 292,327 | $ | 158,960 | $ | 155,575 | $ | 90,903 | $ | 2,954 | $ | 700,719 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance of loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 138,047 | $ | 167,598 | $ | 196,723 | $ | 1,625 | $ | — | $ | 503,993 | ||||||||||||||||||||
Collectively evaluated for impairment | 20,071,162 | 10,675,079 | 15,390,591 | 3,292,001 | — | 49,428,833 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 389,360 | 389,360 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 344,830 | 344,830 | ||||||||||||||||||||||||||
Total loans | $ | 20,209,209 | $ | 10,842,677 | $ | 15,587,314 | $ | 3,293,626 | $ | 734,190 | $ | 50,667,016 | ||||||||||||||||||||
-1 | Includes commercial real estate – mortgage and real estate – construction loans. | |||||||||||||||||||||||||||||||
-2 | Includes residential real estate – mortgage, equity lines of credit and equity loans. | |||||||||||||||||||||||||||||||
-3 | Includes credit card, consumer – direct and consumer – indirect loans. | |||||||||||||||||||||||||||||||
The following table presents information on individually analyzed impaired loans, by loan class. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Individually Analyzed Impaired Loans With No Recorded Allowance | Individually Analyzed Impaired Loans With a Recorded Allowance | |||||||||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Allowance | Recorded Investment | Unpaid Principal Balance | Allowance | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | — | $ | — | $ | — | $ | 67,159 | $ | 87,507 | $ | 19,106 | ||||||||||||||||||||
Real estate – construction | 5,785 | 6,582 | — | 3,606 | 4,148 | 602 | ||||||||||||||||||||||||||
Commercial real estate – mortgage | 24,402 | 25,475 | — | 85,874 | 91,822 | 6,015 | ||||||||||||||||||||||||||
Residential real estate – mortgage | 10,263 | 10,263 | — | 100,764 | 100,951 | 6,275 | ||||||||||||||||||||||||||
Equity lines of credit | — | — | — | 23,908 | 24,100 | 23,152 | ||||||||||||||||||||||||||
Equity loans | — | — | — | 55,289 | 55,517 | 10,266 | ||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | ||||||||||||||||||||||||||
Consumer – direct | — | — | — | 134 | 134 | 69 | ||||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,338 | 1,338 | 1,119 | ||||||||||||||||||||||||||
Total loans | $ | 40,450 | $ | 42,320 | $ | — | $ | 338,072 | $ | 365,517 | $ | 66,604 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Individually Analyzed Impaired Loans With No Recorded Allowance | Individually Analyzed Impaired Loans With a Recorded Allowance | |||||||||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Allowance | Recorded Investment | Unpaid Principal Balance | Allowance | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 19,984 | $ | 27,639 | $ | — | $ | 118,063 | $ | 138,092 | $ | 28,828 | ||||||||||||||||||||
Real estate – construction | 1,314 | 1,555 | — | 9,248 | 10,812 | 836 | ||||||||||||||||||||||||||
Commercial real estate – mortgage | 51,303 | 54,821 | — | 105,733 | 112,177 | 8,572 | ||||||||||||||||||||||||||
Residential real estate – mortgage | 1,906 | 1,906 | — | 115,550 | 115,734 | 7,378 | ||||||||||||||||||||||||||
Equity lines of credit | — | — | — | 23,593 | 24,021 | 23,190 | ||||||||||||||||||||||||||
Equity loans | — | — | — | 55,674 | 55,794 | 11,421 | ||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | ||||||||||||||||||||||||||
Consumer – direct | — | — | — | 182 | 181 | 83 | ||||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,443 | 1,443 | 1,443 | ||||||||||||||||||||||||||
Total loans | $ | 74,507 | $ | 85,921 | $ | — | $ | 429,486 | $ | 458,254 | $ | 81,751 | ||||||||||||||||||||
The following table presents information on individually analyzed impaired loans, by loan class. | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 88,271 | $ | 543 | $ | 122,441 | $ | 365 | ||||||||||||||||||||||||
Real estate – construction | 9,088 | 56 | 60,890 | 152 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 117,404 | 835 | 235,445 | 1,205 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 112,862 | 725 | 147,453 | 855 | ||||||||||||||||||||||||||||
Equity lines of credit | 23,511 | 255 | 7,746 | 81 | ||||||||||||||||||||||||||||
Equity loans | 55,399 | 429 | 45,324 | 438 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | 140 | 1 | 163 | 3 | ||||||||||||||||||||||||||||
Consumer – indirect | 1,309 | 1 | 668 | 11 | ||||||||||||||||||||||||||||
Total loans | $ | 407,984 | $ | 2,845 | $ | 620,130 | $ | 3,110 | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 107,546 | $ | 788 | $ | 117,045 | $ | 721 | ||||||||||||||||||||||||
Real estate – construction | 9,604 | 119 | 85,871 | 543 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 129,376 | 1,777 | 235,279 | 2,259 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 113,913 | 1,444 | 158,930 | 1,937 | ||||||||||||||||||||||||||||
Equity lines of credit | 23,457 | 505 | 3,873 | 81 | ||||||||||||||||||||||||||||
Equity loans | 55,213 | 854 | 34,989 | 691 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | 149 | 2 | 147 | 28 | ||||||||||||||||||||||||||||
Consumer – indirect | 1,287 | 2 | 334 | 11 | ||||||||||||||||||||||||||||
Total loans | $ | 440,545 | $ | 5,491 | $ | 636,468 | $ | 6,271 | ||||||||||||||||||||||||
The tables above do not include Purchased Impaired Loans or loans held for sale. At June 30, 2014, there were $6.4 million, $10.7 million and $313 thousand of recorded investment, unpaid principal balance and allowance for loan losses on covered Purchased Impaired Loans with credit deterioration subsequent to acquisition that were individually analyzed for impairment, respectively. At December 31, 2013, there were $4.8 million, $10.9 million, and $243 thousand of recorded investment, unpaid principal balance and allowance for loan losses on covered Purchased Impaired Loans with credit deterioration subsequent to acquisition that were individually analyzed for impairment, respectively. Covered Purchased Nonimpaired Loans are not included in the tables above as they are evaluated collectively on a pool basis and not on an individual basis. | ||||||||||||||||||||||||||||||||
Detailed information on the Company's allowance for loan losses methodology and the Company's impaired loan policy are included in the Company's Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||
The Company monitors the credit quality of its commercial portfolio using an internal dual risk rating, which considers both the obligor and the facility. The obligor risk ratings are defined by ranges of default probabilities of the borrowers (AAA through D) and the facility risk ratings are defined by ranges of the loss given default. The combination of those two approaches results in the assessment of the likelihood of loss and it is mapped to the regulatory classifications. The Company assigns internal risk ratings at loan origination and at regular intervals subsequent to origination. Loan review intervals are dependent on the size and risk grade of the loan, and are generally conducted at least annually. Additional reviews are conducted when information affecting the loan’s risk grade becomes available. The general characteristics of the risk grades are as follows: | ||||||||||||||||||||||||||||||||
• | The Company’s internally assigned letter grades “AAA” through “B-” correspond to the regulatory classification “Pass.” These loans do not have any identified potential or well-defined weaknesses and have a high likelihood of orderly repayment. Exceptions exist when either the facility is fully secured by a CD and held at the Company or the facility is secured by properly margined and controlled marketable securities. | |||||||||||||||||||||||||||||||
• | Internally assigned letter grades “CCC+” through “CCC” correspond to the regulatory classification “Special Mention.” Loans within this classification have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Special mention loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. | |||||||||||||||||||||||||||||||
• | Internally assigned letter grades “CCC-” through “D1” correspond to the regulatory classification “Substandard.” A loan classified as substandard is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the loan. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||
• | The internally assigned letter grade “D2” corresponds to the regulatory classification “Doubtful.” Loans classified as doubtful have all the weaknesses inherent in one classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable or improbable. | |||||||||||||||||||||||||||||||
The Company considers payment history as the best indicator of credit quality for the consumer portfolio. Nonperforming loans in the tables below include loans classified as nonaccrual, loans 90 days or more past due and loans modified in a TDR 90 days or more past due. | ||||||||||||||||||||||||||||||||
The following tables, which exclude loans held for sale and covered loans, illustrate the credit quality indicators associated with the Company’s loans, by loan class. | ||||||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Real Estate - Construction | Commercial Real Estate - Mortgage | ||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Pass | $ | 21,837,384 | $ | 1,769,475 | $ | 9,033,078 | ||||||||||||||||||||||||||
Special Mention | 246,367 | 12,153 | 225,927 | |||||||||||||||||||||||||||||
Substandard | 249,058 | 9,342 | 176,936 | |||||||||||||||||||||||||||||
Doubtful | 33,020 | 1,210 | 25,151 | |||||||||||||||||||||||||||||
$ | 22,365,829 | $ | 1,792,180 | $ | 9,461,092 | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Real Estate - Construction | Commercial Real Estate - Mortgage | ||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Pass | $ | 19,582,014 | $ | 1,707,719 | $ | 8,562,261 | ||||||||||||||||||||||||||
Special Mention | 353,638 | 9,918 | 271,500 | |||||||||||||||||||||||||||||
Substandard | 261,995 | 17,112 | 243,042 | |||||||||||||||||||||||||||||
Doubtful | 11,562 | 1,599 | 29,526 | |||||||||||||||||||||||||||||
$ | 20,209,209 | $ | 1,736,348 | $ | 9,106,329 | |||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||||||||||
Residential Real Estate – Mortgage | Equity Lines of Credit | Equity Loans | Credit Card | Consumer - Direct | Consumer –Indirect | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Performing | $ | 13,243,361 | $ | 2,200,855 | $ | 589,225 | $ | 628,167 | $ | 561,473 | $ | 2,445,560 | ||||||||||||||||||||
Nonperforming | 112,679 | 37,596 | 20,569 | 8,737 | 2,476 | 2,842 | ||||||||||||||||||||||||||
$ | 13,356,040 | $ | 2,238,451 | $ | 609,794 | $ | 636,904 | $ | 563,949 | $ | 2,448,402 | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Residential Real Estate -Mortgage | Equity Lines of Credit | Equity Loans | Credit Card | Consumer -Direct | Consumer –Indirect | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Performing | $ | 12,601,515 | $ | 2,199,827 | $ | 621,897 | $ | 649,796 | $ | 513,630 | $ | 2,113,918 | ||||||||||||||||||||
Nonperforming | 105,364 | 36,540 | 22,171 | 10,277 | 2,942 | 3,063 | ||||||||||||||||||||||||||
$ | 12,706,879 | $ | 2,236,367 | $ | 644,068 | $ | 660,073 | $ | 516,572 | $ | 2,116,981 | |||||||||||||||||||||
Covered loans are excluded from the table above as an initial estimate of credit losses was embedded within the initial purchase discount established at acquisition. Periodically, the Company updates its estimated cash flows related to these covered loans. Increases in these updated cash flows over those expected at the purchase date are recognized as interest income prospectively. Decreases in estimated cash flows after the purchase date are recognized by recording an allowance for credit losses. Generally, since the acquisition of these covered loans, there has been considerable improvement in the expected credit losses with some minimal deterioration in credit quality seen within specific loans and pools of loans. To account for the subsequent deterioration in credit, an allowance for loan losses of $12 million was recorded on the $613 million covered portfolio at June 30, 2014 and an allowance for loan losses of $3 million was recorded on the $734 million covered loans portfolio at December 31, 2013. | ||||||||||||||||||||||||||||||||
The following tables present an aging analysis of the Company’s past due loans, excluding loans classified as held for sale and Purchased Impaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Accruing TDRs | Total Past Due and Impaired | Not Past Due or Impaired | Total | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 8,399 | $ | 3,520 | $ | 2,311 | $ | 72,606 | $ | 10,491 | $ | 97,327 | $ | 22,268,502 | $ | 22,365,829 | ||||||||||||||||
Real estate – construction | 923 | 418 | 1,138 | 9,401 | 2,244 | 14,124 | 1,778,056 | 1,792,180 | ||||||||||||||||||||||||
Commercial real estate – mortgage | 5,675 | 3,358 | 221 | 88,554 | 45,836 | 143,644 | 9,317,448 | 9,461,092 | ||||||||||||||||||||||||
Residential real estate – mortgage | 43,219 | 15,305 | 2,332 | 110,077 | 73,329 | 244,262 | 13,111,778 | 13,356,040 | ||||||||||||||||||||||||
Equity lines of credit | 9,113 | 4,776 | 2,044 | 35,552 | — | 51,485 | 2,186,966 | 2,238,451 | ||||||||||||||||||||||||
Equity loans | 6,364 | 2,666 | 833 | 19,571 | 42,460 | 71,894 | 537,900 | 609,794 | ||||||||||||||||||||||||
Credit card | 5,186 | 3,766 | 8,737 | — | — | 17,689 | 619,215 | 636,904 | ||||||||||||||||||||||||
Consumer – direct | 8,859 | 1,441 | 2,194 | 282 | 67 | 12,843 | 551,106 | 563,949 | ||||||||||||||||||||||||
Consumer – indirect | 24,633 | 4,585 | 1,231 | 1,611 | — | 32,060 | 2,416,342 | 2,448,402 | ||||||||||||||||||||||||
Covered loans | 2,410 | 152 | 4,590 | 4,153 | 3,832 | 15,137 | 216,579 | 231,716 | ||||||||||||||||||||||||
Total loans | $ | 114,781 | $ | 39,987 | $ | 25,631 | $ | 341,807 | $ | 178,259 | $ | 700,465 | $ | 53,003,892 | $ | 53,704,357 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Accruing TDRs | Total Past Due and Impaired | Not Past Due or Impaired | Total | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 9,485 | $ | 6,111 | $ | 2,212 | $ | 128,231 | $ | 25,548 | $ | 171,587 | $ | 20,037,622 | $ | 20,209,209 | ||||||||||||||||
Real estate – construction | 4,258 | 1,862 | 240 | 14,183 | 3,801 | 24,344 | 1,712,004 | 1,736,348 | ||||||||||||||||||||||||
Commercial real estate – mortgage | 9,521 | 4,869 | 797 | 129,672 | 59,727 | 204,586 | 8,901,743 | 9,106,329 | ||||||||||||||||||||||||
Residential real estate – mortgage | 48,597 | 22,629 | 2,460 | 102,904 | 74,236 | 250,826 | 12,456,053 | 12,706,879 | ||||||||||||||||||||||||
Equity lines of credit | 12,230 | 6,252 | 5,109 | 31,431 | — | 55,022 | 2,181,345 | 2,236,367 | ||||||||||||||||||||||||
Equity loans | 7,630 | 3,170 | 1,167 | 20,447 | 42,850 | 75,264 | 568,804 | 644,068 | ||||||||||||||||||||||||
Credit card | 5,955 | 4,676 | 10,277 | — | — | 20,908 | 639,165 | 660,073 | ||||||||||||||||||||||||
Consumer – direct | 8,736 | 3,000 | 2,402 | 540 | 91 | 14,769 | 501,803 | 516,572 | ||||||||||||||||||||||||
Consumer – indirect | 24,945 | 5,276 | 1,540 | 1,523 | — | 33,284 | 2,083,697 | 2,116,981 | ||||||||||||||||||||||||
Covered loans | 1,247 | 290 | 4,122 | 5,425 | 3,455 | 14,539 | 330,291 | 344,830 | ||||||||||||||||||||||||
Total loans | $ | 132,604 | $ | 58,135 | $ | 30,326 | $ | 434,356 | $ | 209,708 | $ | 865,129 | $ | 49,412,527 | $ | 50,277,656 | ||||||||||||||||
Policies related to the Company's nonaccrual and past due loans are included in the Company's Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||
It is the Company’s policy to classify TDRs that are not accruing interest as nonaccrual loans. It is also the Company’s policy to classify TDR past due loans that are accruing interest as TDRs and not according to their past due status. The tables above reflect this policy. The following table provides a breakout of TDRs, including nonaccrual loans and covered loans and excluding loans classified as held for sale. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Total Past Due and Nonaccrual | Not Past Due or Nonaccrual | Total | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | — | $ | — | $ | 194 | $ | 5,158 | $ | 5,352 | $ | 10,297 | $ | 15,649 | ||||||||||||||||||
Real estate – construction | — | — | — | 183 | 183 | 2,244 | 2,427 | |||||||||||||||||||||||||
Commercial real estate – mortgage | 186 | — | — | 11,933 | 12,119 | 45,650 | 57,769 | |||||||||||||||||||||||||
Residential real estate – mortgage | 3,520 | 1,028 | 270 | 27,436 | 32,254 | 68,511 | 100,765 | |||||||||||||||||||||||||
Equity lines of credit | — | — | — | 24,111 | 24,111 | — | 24,111 | |||||||||||||||||||||||||
Equity loans | 1,425 | 1,401 | 165 | 12,874 | 15,865 | 39,469 | 55,334 | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer – direct | — | — | — | 67 | 67 | 67 | 134 | |||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,338 | 1,338 | — | 1,338 | |||||||||||||||||||||||||
Covered loans | — | 3 | — | 1,713 | 1,716 | 3,829 | 5,545 | |||||||||||||||||||||||||
Total loans | $ | 5,131 | $ | 2,432 | $ | 629 | $ | 84,813 | $ | 93,005 | $ | 170,067 | $ | 263,072 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Total Past Due and Nonaccrual | Not Past Due or Nonaccrual | Total | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 5 | $ | — | $ | — | $ | 20,498 | $ | 20,503 | $ | 25,543 | $ | 46,046 | ||||||||||||||||||
Real estate – construction | 32 | 50 | — | 181 | 263 | 3,719 | 3,982 | |||||||||||||||||||||||||
Commercial real estate – mortgage | 2,345 | — | — | 13,910 | 16,255 | 57,382 | 73,637 | |||||||||||||||||||||||||
Residential real estate – mortgage | 3,755 | 2,747 | 760 | 30,492 | 37,754 | 66,974 | 104,728 | |||||||||||||||||||||||||
Equity lines of credit | — | — | — | 24,592 | 24,592 | — | 24,592 | |||||||||||||||||||||||||
Equity loans | 1,799 | 1,022 | 557 | 12,823 | 16,201 | 39,472 | 55,673 | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer – direct | — | — | — | 90 | 90 | 91 | 181 | |||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,443 | 1,443 | — | 1,443 | |||||||||||||||||||||||||
Covered loans | $ | 21 | $ | — | $ | — | $ | 5,428 | $ | 5,449 | $ | 3,434 | $ | 8,883 | ||||||||||||||||||
Total loans | $ | 7,957 | $ | 3,819 | $ | 1,317 | $ | 109,457 | $ | 122,550 | $ | 196,615 | $ | 319,165 | ||||||||||||||||||
As of June 30, 2014, there were no loans held for sale classified as TDRs. At December 31, 2013, there were $3.6 million of nonaccrual loans held for sale classified as TDRs. | ||||||||||||||||||||||||||||||||
Modifications to a borrower’s loan agreement are considered TDRs if a concession is granted for economic or legal reasons related to a borrower’s financial difficulties that otherwise would not be considered. Within each of the Company’s loan classes, TDRs typically involve modification of the loan interest rate to a below market rate or an extension or deferment of the loan. During the three months ended June 30, 2014, $4.5 million of TDR modifications included an interest rate concession and $6.4 million of TDR modifications resulted from modifications to the loan’s structure. During the three months ended June 30, 2013, $5.8 million of TDR modifications included an interest rate concession and $50.3 million of TDR modifications resulted from modifications to the loan’s structure. During the six months ended June 30, 2014, $6.9 million of TDR modifications included an interest rate concession and $13.4 million of TDR modifications resulted from modifications to the loan’s structure. During the six months ended June 30, 2013, $18.9 million of TDR modifications included an interest rate concession and $54.6 million of TDR modifications resulted from modifications to the loan’s structure. | ||||||||||||||||||||||||||||||||
The following table presents an analysis of the types of loans that were restructured and classified as TDRs, excluding loans classified as held for sale. | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Post-Modification Outstanding Recorded Investment | Number of Contracts | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | 2 | $ | 163 | 3 | $ | 703 | ||||||||||||||||||||||||||
Real estate – construction | — | — | 1 | 3 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 3 | 2,656 | 8 | 628 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 46 | 4,124 | 137 | 18,130 | ||||||||||||||||||||||||||||
Equity lines of credit | 48 | 2,178 | 460 | 23,236 | ||||||||||||||||||||||||||||
Equity loans | 23 | 1,330 | 333 | 11,303 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | 15 | 133 | ||||||||||||||||||||||||||||
Consumer – indirect | 32 | 470 | 384 | 2,004 | ||||||||||||||||||||||||||||
Covered loans | — | — | 1 | 1 | ||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Post-Modification Outstanding Recorded Investment | Number of Contracts | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | 2 | $ | 163 | 6 | $ | 5,059 | ||||||||||||||||||||||||||
Real estate – construction | — | — | 3 | 2,409 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 9 | 6,586 | 13 | 3,832 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 56 | 5,118 | 169 | 23,511 | ||||||||||||||||||||||||||||
Equity lines of credit | 97 | 4,480 | 460 | 23,236 | ||||||||||||||||||||||||||||
Equity loans | 41 | 3,317 | 359 | 13,260 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | 15 | 133 | ||||||||||||||||||||||||||||
Consumer – indirect | 50 | 672 | 384 | 2,004 | ||||||||||||||||||||||||||||
Covered loans | — | — | 2 | 49 | ||||||||||||||||||||||||||||
In response to guidance issued by a national bank regulatory agency, during the second quarter of 2013, the Company concluded that $52.6 million of loans that had been discharged in bankruptcy and not reaffirmed by the borrower should be classified as nonperforming TDRs. The Company estimated the allowance for loan losses for these loans based on collateral shortfall and accordingly the allowance for loan losses was increased by $33.5 million during the second quarter of 2013. | ||||||||||||||||||||||||||||||||
For the three and six months ended June 30, 2014 and 2013, charge-offs and changes to the allowance related to modifications classified as TDRs, excluding the nonreaffirmed loans discharged in bankruptcy, were not material. | ||||||||||||||||||||||||||||||||
The Company considers TDRs aged 90 days or more past due, charged off or classified as nonaccrual subsequent to modification, where the loan was not classified as a nonperforming loan at the time of modification, as subsequently defaulted. | ||||||||||||||||||||||||||||||||
The following tables provide a summary of initial subsequent defaults that occurred within one year of the restructure date. The table excludes loans classified as held for sale as of period-end and includes loans no longer in default as of period-end. | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment at Default | Number of Contracts | Recorded Investment at Default | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | — | $ | — | — | $ | — | ||||||||||||||||||||||||||
Real estate – construction | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 1 | 2,198 | 1 | 107 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | — | — | 4 | 122 | ||||||||||||||||||||||||||||
Equity lines of credit | — | — | — | — | ||||||||||||||||||||||||||||
Equity loans | 3 | 319 | — | — | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – indirect | — | — | — | — | ||||||||||||||||||||||||||||
Covered loans | — | — | — | — | ||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment at Default | Number of Contracts | Recorded Investment at Default | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | — | $ | — | 1 | $ | 9,531 | ||||||||||||||||||||||||||
Real estate – construction | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 1 | 2,198 | 1 | 107 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | — | — | 10 | 2,135 | ||||||||||||||||||||||||||||
Equity lines of credit | 3 | 275 | — | — | ||||||||||||||||||||||||||||
Equity loans | 4 | 382 | 1 | 54 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – indirect | — | — | — | — | ||||||||||||||||||||||||||||
Covered loans | — | — | — | — | ||||||||||||||||||||||||||||
The Company’s allowance for loan losses is largely driven by updated risk ratings assigned to commercial loans, updated borrower credit scores on consumer loans, and borrower delinquency history in both commercial and consumer portfolios. As such, the provision for loan losses is impacted primarily by changes in borrower payment performance rather than TDR classification. In addition, all commercial and consumer loans modified in a TDR are considered to be impaired, even if they maintain their accrual status. | ||||||||||||||||||||||||||||||||
At June 30, 2014 and December 31, 2013, there were $892 thousand and $3.9 million, respectively, of commitments to lend additional funds to borrowers owing loans whose terms have been modified in a TDR. |
Loan_Sales_and_Servicing
Loan Sales and Servicing | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Transfers and Servicing [Abstract] | ' | |||||||||||||||
Loan Sales and Servicing | ' | |||||||||||||||
Loan Sales and Servicing | ||||||||||||||||
The following table presents the composition of the loans held for sale portfolio. | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
(In Thousands) | ||||||||||||||||
Loans held for sale: | ||||||||||||||||
Real estate – construction | $ | — | $ | 4,447 | ||||||||||||
Commercial real estate – mortgage | — | 2,912 | ||||||||||||||
Residential real estate – mortgage | 211,879 | 139,750 | ||||||||||||||
Total loans held for sale | $ | 211,879 | $ | 147,109 | ||||||||||||
During the three and six months ended June 30, 2014, the Company transferred loans with a recorded balance immediately preceding the transfer totaling $14 million from the held for investment portfolio to loans held for sale. The Company recognized charge-offs upon transfer of these loans totaling $4 million for both the three and six months ended June 30, 2014. During the three and six months ended June 30, 2013, the Company transferred loans with a recorded balance immediately preceding the transfer totaling $76 million from the held for investment portfolio to loans held for sale. The Company recognized charge-offs upon transfer of these loans totaling $22 million for both the three and six months ended June 30, 2013. The Company sold loans and loans held for sale, excluding loans originated for sale in the secondary market, with a recorded balance of $39 million and $100 million during the three and six months ended June 30, 2014, respectively, and $94 million and $114 million during the three and six months ended June 30, 2013, respectively. | ||||||||||||||||
Sales of residential real estate – mortgage loans originated for sale in the secondary market, including loans originated for sale where the Company retained servicing responsibilities, were $181 million and $369 million for the three and six months ended June 30, 2014, respectively, and $372 million and $865 million for the three and six months ended June 30, 2013, respectively. The Company recognized net gains of $5.8 million and $11.3 million on the sale of residential mortgage loans originated for sale during the three and six months ended June 30, 2014, respectively, and $6.7 million and $19.8 million for the three and six months ended June 30, 2013, respectively. These gains were recorded in mortgage banking income in the Company’s Unaudited Condensed Consolidated Statements of Income. | ||||||||||||||||
Residential Real Estate Mortgage Loans Sold with Retained Servicing | ||||||||||||||||
During the three and six months ended June 30, 2014, the Company sold $181 million and $369 million, respectively, of residential mortgage loans originated for sale where the Company retained servicing responsibilities. During the three and six months ended June 30, 2013, the Company sold $366 million and $842 million, respectively, of residential mortgage loans originated for sale where the Company retained servicing responsibilities. For these sold loans, there is no recourse to the Company for the failures of debtors to pay when due. At June 30, 2014 and December 31, 2013, the Company was servicing $2.9 billion and $2.7 billion, respectively, of residential mortgage loans sold with retained servicing. These loans are not included in loans on the Company’s Unaudited Condensed Consolidated Balance Sheets. | ||||||||||||||||
In connection with residential mortgage loans sold with retained servicing, the Company receives annual servicing fees based on a percentage of the outstanding balance. The Company recognized servicing fees of $3.7 million and $7.3 million during the three and six months ended June 30, 2014, respectively. The Company recognized servicing fees of $3.3 million and $4.1 million during the three and six months ended June 30, 2013, respectively. These fees were recorded as a component of other noninterest income in the Company’s Unaudited Condensed Consolidated Statements of Income. At June 30, 2014 and December 31, 2013, the Company had recorded $31 million and $30 million of servicing assets, respectively, under the fair value method in other assets on the Company’s Unaudited Condensed Consolidated Balance Sheets. | ||||||||||||||||
The value of MSRs is significantly affected by mortgage interest rates available in the marketplace, which influence mortgage loan prepayment speeds. In general, during periods of declining rates, the value of MSRs declines due to increasing prepayments attributable to increased mortgage-refinance activity. During periods of rising interest rates, the fair value of mortgage servicing rights generally increases due to reduced refinance activity. The Company maintains a non-qualifying hedging strategy to manage a portion of the risk associated with changes in the value of the MSR portfolio. This strategy includes the purchase of various trading securities. The interest income, mark-to-market adjustments and gain or loss from sale activities associated with these securities are expected to economically hedge a portion of the change in the value of the MSR portfolio. | ||||||||||||||||
The following table is an analysis of the activity in the Company’s residential MSRs. | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
(In Thousands) | ||||||||||||||||
Carrying value, at beginning of period | $ | 31,828 | $ | 18,471 | $ | 30,065 | $ | 13,255 | ||||||||
Additions | 1,923 | 3,872 | 4,006 | 9,133 | ||||||||||||
Increase (decrease) in fair value: | ||||||||||||||||
Due to changes in valuation inputs or assumptions | (2,085 | ) | 710 | (1,794 | ) | 1,046 | ||||||||||
Due to other changes in fair value (1) | (562 | ) | (430 | ) | (1,173 | ) | (811 | ) | ||||||||
Carrying value, at end of period | $ | 31,104 | $ | 22,623 | $ | 31,104 | $ | 22,623 | ||||||||
-1 | Represents the realization of expected net servicing cash flows, expected borrower repayments and the passage of time. | |||||||||||||||
See Note 9, Fair Value of Financial Instruments, for additional disclosures related to the assumptions and estimates used in determining fair value of residential MSRs. | ||||||||||||||||
At June 30, 2014 and December 31, 2013, the sensitivity of the current fair value of the residential MSRs to immediate 10% and 20% adverse changes in key economic assumptions are included in the following table: | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
(Dollars in Thousands) | ||||||||||||||||
Fair value of residential mortgage servicing rights | $ | 31,104 | $ | 30,065 | ||||||||||||
Composition of residential loans serviced for others: | ||||||||||||||||
Fixed rate mortgage loans | 96.4 | % | 96.4 | % | ||||||||||||
Adjustable rate mortgage loans | 3.6 | 3.6 | ||||||||||||||
Total | 100 | % | 100 | % | ||||||||||||
Weighted average life (in years) | 6.5 | 6.9 | ||||||||||||||
Prepayment speed: | 9.7 | % | 8.8 | % | ||||||||||||
Effect on fair value of a 10% increase | $ | (957 | ) | $ | (743 | ) | ||||||||||
Effect on fair value of a 20% increase | (1,891 | ) | (1,492 | ) | ||||||||||||
Weighted average discount rate: | 10 | % | 10 | % | ||||||||||||
Effect on fair value of a 10% increase | $ | (1,178 | ) | $ | (1,167 | ) | ||||||||||
Effect on fair value of a 20% increase | (2,272 | ) | (2,247 | ) | ||||||||||||
The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. As indicated, changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in this table, the effect of an adverse variation in a particular assumption on the fair value of the MSRs is calculated without changing any other assumption; while in reality, changes in one factor may result in changes to another, which may magnify or counteract the effect of the change. |
Derivatives_and_Hedging
Derivatives and Hedging | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Derivatives and Hedging | ' | |||||||||||||||||||||||
Derivatives and Hedging | ||||||||||||||||||||||||
The Company is a party to derivative instruments in the normal course of business for trading purposes and for purposes other than trading to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates and foreign currency exchange rates. The Company has made an accounting policy decision to not offset derivative fair value amounts under master netting agreements. See Summary of Significant Accounting Policies in the Notes to Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 for additional information on the Company's accounting policies related to derivative instruments and hedging activities. The following table reflects the notional amount and fair value of derivative instruments included on the Company’s Unaudited Condensed Consolidated Balance Sheets on a gross basis. | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||
Notional Amount | Derivative Assets (1) | Derivative Liabilities (2) | Notional Amount | Derivative Assets (1) | Derivative Liabilities (2) | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||||||||
Fair value hedges: | ||||||||||||||||||||||||
Interest rate swaps related to long-term debt | $ | 423,950 | $ | 67,499 | $ | — | $ | 423,950 | $ | 67,623 | $ | — | ||||||||||||
Total fair value hedges | 67,499 | — | 67,623 | — | ||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Swaps related to commercial loans | 600,000 | 3,385 | — | 200,000 | 3,652 | — | ||||||||||||||||||
Swaps related to FHLB advances | 320,000 | — | 14,230 | 320,000 | — | 11,862 | ||||||||||||||||||
Total cash flow hedges | 3,385 | 14,230 | 3,652 | 11,862 | ||||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 70,884 | $ | 14,230 | $ | 71,275 | $ | 11,862 | ||||||||||||||||
Free-standing derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Free-standing derivative instruments-risk management and other purposes: | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Forward and option contracts related to held for sale mortgages | $ | 320,500 | $ | 208 | $ | 2,546 | $ | 171,364 | $ | 1,727 | $ | 56 | ||||||||||||
Equity contracts: | ||||||||||||||||||||||||
Purchased equity option related to equity-linked CDs | 686,268 | 54,582 | — | 588,377 | 47,875 | — | ||||||||||||||||||
Swap associated with sale of Visa, Inc. Class B shares | 47,074 | — | 1,177 | 49,748 | — | 1,244 | ||||||||||||||||||
Foreign exchange contracts: | ||||||||||||||||||||||||
Forwards related to commercial loans | 650,758 | 141 | 4,814 | 424,797 | 1,072 | 2,690 | ||||||||||||||||||
Spots related to commercial loans | 23,301 | 27 | 16 | 41,133 | 55 | 56 | ||||||||||||||||||
Total free-standing derivative instruments-risk management and other purposes | $ | 54,958 | $ | 8,553 | $ | 50,729 | $ | 4,046 | ||||||||||||||||
Free-standing derivative instruments – customer accommodation: | ||||||||||||||||||||||||
Futures contracts (3) | $ | 488,000 | $ | — | $ | — | $ | 657,000 | $ | — | $ | — | ||||||||||||
Interest rate lock commitments | 253,064 | 3,822 | 1 | 129,791 | 947 | 57 | ||||||||||||||||||
Written equity option related to equity-linked CDs | 667,447 | — | 53,117 | 576,196 | — | 46,573 | ||||||||||||||||||
Trading account assets and liabilities: | ||||||||||||||||||||||||
Interest rate contracts for customers | 15,555,775 | 271,908 | 211,684 | 13,474,347 | 262,578 | 200,899 | ||||||||||||||||||
Commodity contracts for customers | 590,859 | 15,198 | 12,897 | 906,650 | 23,132 | 18,373 | ||||||||||||||||||
Foreign exchange contracts for customers | 435,810 | 2,869 | 2,154 | 145,175 | 4,450 | 3,894 | ||||||||||||||||||
Total trading account assets and liabilities | 289,975 | 226,735 | 290,160 | 223,166 | ||||||||||||||||||||
Total free-standing derivative instruments- customer accommodations | $ | 293,797 | $ | 279,853 | $ | 291,107 | $ | 269,796 | ||||||||||||||||
-1 | Derivative assets, except for trading account assets that are recorded as a component of trading account assets on the Company's Unaudited Condensed Consolidated Balance Sheets, are recorded in other assets on the Company’s Unaudited Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||
-2 | Derivative liabilities are recorded in accrued expenses and other liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||
-3 | Changes in fair value are cash settled daily; therefore, there is no ending balance at any given reporting period. | |||||||||||||||||||||||
Hedging Derivatives | ||||||||||||||||||||||||
The Company uses derivative instruments to manage the risk of earnings fluctuations caused by interest rate volatility. For those financial instruments that qualify and are designated as a hedging relationship, either a fair value hedge or cash flow hedge, the effect of interest rate movements on the hedged assets or liabilities will generally be offset by the derivative instrument. | ||||||||||||||||||||||||
Fair Value Hedges | ||||||||||||||||||||||||
The Company enters into fair value hedging relationships using interest rate swaps to mitigate the Company’s exposure to losses in value as interest rates change. Derivative instruments that are used as part of the Company’s interest rate risk management strategy include interest rate swaps that relate to the pricing of specific balance sheet assets and liabilities. Interest rate swaps generally involve the exchange of fixed and variable rate interest payments between two parties, based on a common notional principal amount and maturity date. | ||||||||||||||||||||||||
Interest rate swaps are used to convert the Company’s fixed rate long-term debt to a variable rate. The critical terms of the interest rate swaps match the terms of the corresponding hedged items. All components of each derivative instrument’s gain or loss are included in the assessment of hedge effectiveness. | ||||||||||||||||||||||||
The Company recognized no gains or losses for the three and six months ended June 30, 2014 and 2013 related to hedged firm commitments no longer qualifying as a fair value hedge. At June 30, 2014, the fair value hedges had a weighted average expected remaining term of 4.9 years. | ||||||||||||||||||||||||
During the three months ended June 30, 2013, the Company partially extinguished $126 million in aggregate principal amount of subordinated debentures. In connection with this extinguishment, the Company unwound $126 million of swaps associated with this issuance and recognized a proportional amount of the swap gains related to the terminated swaps as a component of gain on prepayment of FHLB and other borrowings in the Company's Unaudited Condensed Consolidated Statements of Income for the three and six months ended June 30, 2013. | ||||||||||||||||||||||||
The following table reflects the change in fair value for interest rate contracts and the related hedged items as well as other gains and losses related to fair value hedges including gains or losses recognized because of hedge ineffectiveness. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Condensed Consolidated | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
Statements of Income Caption | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Change in fair value of interest rate contracts: | ||||||||||||||||||||||||
Interest rate swaps hedging long term debt | Interest on FHLB and other borrowings | $ | 811 | $ | (17,870 | ) | $ | (124 | ) | $ | (27,724 | ) | ||||||||||||
Hedged long term debt | Interest on FHLB and other borrowings | (838 | ) | 17,887 | 219 | 28,044 | ||||||||||||||||||
Other gains on interest rate contracts: | ||||||||||||||||||||||||
Interest and amortization related to interest rate swaps on hedged long term debt | Interest on FHLB and other borrowings | 6,016 | 5,559 | 12,032 | 12,341 | |||||||||||||||||||
There were no material fair value hedging gains or losses recognized because of hedge ineffectiveness for the three and six months ended June 30, 2014 and 2013. | ||||||||||||||||||||||||
Cash Flow Hedges | ||||||||||||||||||||||||
The Company enters into cash flow hedging relationships using interest rate swaps and options, such as caps and floors, to mitigate exposure to the variability in future cash flows or other forecasted transactions associated with its floating rate assets and liabilities. The Company uses interest rate swaps and options to hedge the repricing characteristics of its floating rate commercial loans and FHLB advances. All components of each derivative instrument’s gain or loss are included in the assessment of hedge effectiveness. The initial assessment of expected hedge effectiveness is based on regression analysis. The ongoing periodic measures of hedge ineffectiveness are based on the expected change in cash flows of the hedged item caused by changes in the benchmark interest rate. There were no material cash flow hedging gains or losses recognized because of hedge ineffectiveness for the three and six months ended June 30, 2014 and 2013. There were no gains or losses reclassified from other comprehensive income (loss) because of the discontinuance of cash flow hedges related to certain forecasted transactions that are probable of not occurring for the three and six months ended June 30, 2014 and 2013. | ||||||||||||||||||||||||
At June 30, 2014, cash flow hedges not terminated had a net fair value of $(10.8) million and a weighted average life of 3.3 years. Based on the current interest rate environment, $1.9 million of gains are expected to be reclassified to net interest income over the next 12 months as net settlements occur. The maximum length of time over which the entity is hedging its exposure to the variability in future cash flows for forecasted transactions is 7.0 years. | ||||||||||||||||||||||||
The following table presents the effect of derivative instruments designated and qualifying as cash flow hedges on the Company’s Unaudited Condensed Consolidated Balance Sheets and the Company’s Unaudited Condensed Consolidated Statements of Income. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Net change in amount recognized in other comprehensive income | $ | (875 | ) | $ | 4,882 | $ | (1,682 | ) | $ | 6,265 | ||||||||||||||
Amount reclassified from accumulated other comprehensive income into net interest income | (564 | ) | (1,143 | ) | (1,727 | ) | (2,276 | ) | ||||||||||||||||
Amount of ineffectiveness recognized in net interest income | — | — | — | — | ||||||||||||||||||||
Derivatives Not Designated As Hedges | ||||||||||||||||||||||||
Derivatives not designated as hedges include those that are entered into as either economic hedges as part of the Company’s overall risk management strategy or to facilitate client needs. Economic hedges are those that do not qualify to be treated as a fair value hedge, cash flow hedge or foreign currency hedge for accounting purposes, but are necessary to economically manage the risk exposure associated with the assets and liabilities of the Company. | ||||||||||||||||||||||||
The Company also enters into a variety of interest rate contracts, commodity contracts and foreign exchange contracts in its trading activities. The primary purpose for using these derivative instruments in the trading account is to facilitate customer transactions. The trading interest rate contract portfolio is actively managed and hedged with similar products to limit market value risk of the portfolio. Changes in the estimated fair value of contracts in the trading account along with the related interest settlements on the contracts are recorded in noninterest income as corporate and correspondent investment sales in the Company's Unaudited Condensed Consolidated Statements of Income. | ||||||||||||||||||||||||
Free-Standing Derivative Instruments – Risk Management and Other Purposes | ||||||||||||||||||||||||
The Company enters into forward contracts to economically hedge the change in fair value of certain residential mortgage loans held for sale due to changes in interest rates. Revaluation gains and losses from free-standing derivatives related to mortgage banking activity are recorded as a component of mortgage banking income in the Company’s Unaudited Condensed Consolidated Statements of Income. | ||||||||||||||||||||||||
In conjunction with the sale of its Visa, Inc. Class B shares in 2009, the Company entered into a total return swap in which the Company will make or receive payments based on subsequent changes in the conversion rate of the Class B shares into Class A shares. This total return swap is accounted for as a free-standing derivative. | ||||||||||||||||||||||||
The Company offers its customers equity-linked CDs that have a return linked to individual equities and equity indices. Under appropriate accounting guidance, a CD that pays interest based on changes in an equity index is a hybrid instrument that requires separation into a host contract (the CD) and an embedded derivative contract (written equity call option). The Company has entered into an offsetting derivative contract in order to economically hedge the exposure related to the issuance of equity-linked CDs. Both the embedded derivative and derivative contract entered into by the Company are recorded at fair value with offsetting gains and losses recognized within noninterest expense in the Company's Unaudited Condensed Consolidated Statements of Income. The embedded derivative is classified as a free-standing derivative instrument to accommodate customers while the offsetting derivative contract intended to hedge the Company’s exposure is classified as a free-standing derivative instrument for risk management and other purposes. | ||||||||||||||||||||||||
The Company also enters into foreign currency contracts to hedge its exposure to fluctuations in foreign currency exchange rates due to its funding of commercial loans in foreign currencies. | ||||||||||||||||||||||||
The net gains and losses recorded in the Company's Unaudited Condensed Consolidated Statements of Income from free-standing derivative instruments used for risk management and other purposes are summarized in the following table. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Condensed Consolidated | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
Statements of Income Caption | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Forward & option contracts related to residential mortgage loans held for sale | Mortgage banking income | $ | (2,553 | ) | $ | 13,488 | $ | (4,107 | ) | $ | 12,744 | |||||||||||||
Equity contracts: | ||||||||||||||||||||||||
Purchased equity option related to equity-linked CDs | Other noninterest expense | 2,929 | 2,019 | 6,707 | 5,242 | |||||||||||||||||||
Foreign currency contracts: | ||||||||||||||||||||||||
Forward contracts related to commercial loans | Corporate and correspondent investment sales | (11,943 | ) | 3,456 | (17,430 | ) | 11,021 | |||||||||||||||||
Spot contracts related to commercial loans | Corporate and correspondent investment sales | 2,527 | (805 | ) | 3,407 | (805 | ) | |||||||||||||||||
Free-Standing Derivative Instruments – Customer Accommodation | ||||||||||||||||||||||||
The majority of free-standing derivative instruments the Company enters into are for the benefit of its commercial customers. These derivative contracts are not designated against specific assets or liabilities on the Company's Unaudited Condensed Consolidated Balance Sheets or to forecasted transactions and, therefore, do not qualify for hedge accounting. The Company may economically hedge significant exposures related to these derivative contracts entered into for the benefit of customers by entering into offsetting contracts with high-quality counterparties with substantially matching terms. Revaluation gains and losses on commodity and other commercial customer derivative contracts are recorded as a component of corporate and correspondent investment sales in the Company's Unaudited Condensed Consolidated Statements of Income. | ||||||||||||||||||||||||
Interest rate lock commitments issued on residential mortgage loan commitments that will be held for resale are also considered free-standing derivative instruments, and the interest rate exposure on these commitments is economically hedged primarily with forward contracts. Revaluation gains and losses from free-standing derivatives related to mortgage banking activity are recorded as a component of mortgage banking income in the Company's Unaudited Condensed Consolidated Statements of Income. | ||||||||||||||||||||||||
The net gains and losses recorded in the Company's Unaudited Condensed Consolidated Statements of Income relating to free-standing derivative instruments used as a customer accommodation are summarized in the following table. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Condensed Consolidated | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
Statements of Income Caption | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Futures contracts | Corporate and correspondent investment sales | $ | (157 | ) | $ | 575 | $ | (233 | ) | $ | 617 | |||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Interest rate contracts for customers | Corporate and correspondent investment sales | 4,040 | 9,410 | 9,158 | 16,308 | |||||||||||||||||||
Interest rate lock commitments | Mortgage banking income | 2,139 | (3,858 | ) | 2,931 | (4,483 | ) | |||||||||||||||||
Commodity contracts: | ||||||||||||||||||||||||
Commodity contracts for customers | Corporate and correspondent investment sales | (105 | ) | 79 | (97 | ) | 26 | |||||||||||||||||
Foreign currency contracts: | ||||||||||||||||||||||||
Foreign currency exchange contracts for customers | Corporate and correspondent investment sales | 177 | 283 | 370 | 283 | |||||||||||||||||||
Equity contracts: | ||||||||||||||||||||||||
Written equity option related to equity-linked CDs | Other noninterest expense | (2,865 | ) | (2,061 | ) | (6,544 | ) | (5,155 | ) | |||||||||||||||
Derivatives Credit and Market Risks | ||||||||||||||||||||||||
By using derivative instruments, the Company is exposed to credit and market risk. If the counterparty fails to perform, credit risk is equal to the extent of the Company’s fair value gain in a derivative. When the fair value of a derivative instrument contract is positive, this generally indicates that the counterparty owes the Company and, therefore, creates a credit risk for the Company. When the fair value of a derivative instrument contract is negative, the Company owes the counterparty and, therefore, it has no credit risk. The Company minimizes the credit risk in derivative instruments by entering into transactions with high-quality counterparties that are reviewed periodically. Credit losses are also mitigated through collateral agreements and other contract provisions with derivative counterparties. | ||||||||||||||||||||||||
Market risk is the adverse effect that a change in interest rates or implied volatility rates has on the value of a financial instrument. The Company manages the market risk associated with interest rate contracts by establishing and monitoring limits as to the types and degree of risk that may be undertaken. | ||||||||||||||||||||||||
The Company’s derivatives activities are monitored by its Asset/Liability Committee as part of its risk-management oversight of the Company’s treasury function. The Company’s Asset/Liability Committee is responsible for mandating various hedging strategies that are developed through its analysis of data from financial simulation models and other internal and industry sources. The resulting hedging strategies are then incorporated into the Company’s overall interest rate risk management and trading strategies. | ||||||||||||||||||||||||
Entering into interest rate swap agreements and options involves not only the risk of dealing with counterparties and their ability to meet the terms of the contracts but also interest rate risk associated with unmatched positions. At June 30, 2014, interest rate swap agreements and options classified as trading were substantially matched. The Company had credit risk of $290 million related to derivative instruments in the trading account portfolio, which does not take into consideration master netting arrangements or the value of the collateral. There were $727 thousand and $1.1 million in credit losses associated with derivative instruments classified as trading for the three months ended June 30, 2014 and 2013, respectively. There were $726 thousand and $1.7 million in credit losses associated with derivative instruments classified as trading for the six months ended June 30, 2014 and 2013, respectively. At June 30, 2014, there were $74 thousand nonperforming derivative positions classified as trading and at December 31, 2013 there were $54 thousand nonperforming derivative positions classified as trading. | ||||||||||||||||||||||||
The Company’s derivative positions held for hedging purposes are primarily executed in the over-the-counter market. These positions at June 30, 2014 have credit risk of $71 million, which does not take into consideration master netting arrangements or the value of the collateral. | ||||||||||||||||||||||||
There were no credit losses associated with derivative instruments classified as nontrading for the three and six months ended June 30, 2014 and 2013. At June 30, 2014 and December 31, 2013, there were no nonperforming derivative positions classified as nontrading. | ||||||||||||||||||||||||
As of June 30, 2014 and December 31, 2013, the Company had recorded the right to reclaim cash collateral of $45 million and $26 million, respectively, within other assets on the Company’s Unaudited Condensed Consolidated Balance Sheets and had recorded the obligation to return cash collateral of $17 million and $38 million, respectively, within deposits on the Company’s Unaudited Condensed Consolidated Balance Sheets. | ||||||||||||||||||||||||
Contingent Features | ||||||||||||||||||||||||
Certain of the Company’s derivative instruments contain provisions that require the Company’s debt to maintain a certain credit rating from each of the major credit rating agencies. If the Company’s debt were to fall below this rating, it would be in violation of these provisions, and the counterparties to the derivative instruments could demand immediate and ongoing full overnight collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on June 30, 2014 was $73 million for which the Company has collateral requirements of $70 million in the normal course of business. If the credit risk-related contingent features underlying these agreements were triggered on June 30, 2014, the Company’s collateral requirements to its counterparties would increase by $3 million. The aggregate fair value of all derivative instruments with credit risk-related contingent features that were in a liability position on December 31, 2013 was $57 million for which the Company had collateral requirements of $54 million in the normal course of business. If the credit risk-related contingent features underlying these agreements were triggered on December 31, 2013, the Company’s collateral requirements to its counterparties would have increased by $3 million. |
Assets_and_Liabilities_Subject
Assets and Liabilities Subject to Enforceable Master Netting Arrangements | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Offsetting [Abstract] | ' | |||||||||||||||||||||||
Assets and Liabilities Subject to Enforceable Master Netting Arrangements | ' | |||||||||||||||||||||||
Assets and Liabilities Subject to Enforceable Master Netting Arrangements | ||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||
In conjunction with the derivative and hedging activity discussed in Note 6, Derivatives and Hedging, the Company is party to master netting arrangements with its financial institution counterparties for some of its derivative and hedging activities. The Company does not offset assets and liabilities under these master netting arrangements for financial statement presentation purposes. The master netting arrangements provide for single net settlement of all derivative instrument arrangements, as well as collateral, in the event of default, or termination of, any one contract with the respective counterparties. Cash collateral is usually posted by the counterparty with a net liability position in accordance with contract thresholds. | ||||||||||||||||||||||||
Securities Sold Under Agreements to Repurchase | ||||||||||||||||||||||||
The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Securities sold under agreements to repurchase are generally accounted for as collateralized financing transactions and recorded at the amounts at which the securities were sold plus accrued interest. The securities pledged as collateral are generally U.S. government and federal agency securities. The obligation to repurchase the securities is reflected as a liability in the Company's Unaudited Condensed Consolidated Balance Sheets, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts available for sale. There is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. As of June 30, 2014 and December 31, 2013, the Company had no repurchase agreements that were subject to enforceable master netting arrangements. | ||||||||||||||||||||||||
The following represents the Company’s assets/liabilities subject to an enforceable master netting arrangement. The derivative instruments the Company has with its customers are not subject to an enforceable master netting arrangement. | ||||||||||||||||||||||||
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | ||||||||||||||||||||||||
Gross Amounts Recognized | Gross Amounts Offset in the Condensed Consolidated Balance Sheets | Net Amount Presented in the Condensed Consolidated Balance Sheets | Financial Instruments (1) | Cash Collateral Received/ Pledged (1) | Net Amount | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Derivative financial assets: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 173,401 | $ | — | $ | 173,401 | $ | 14,011 | $ | 12,942 | $ | 146,448 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 246,238 | — | 246,238 | — | — | 246,238 | ||||||||||||||||||
Total derivative financial assets | $ | 419,639 | $ | — | $ | 419,639 | $ | 14,011 | $ | 12,942 | $ | 392,686 | ||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 233,917 | $ | — | $ | 233,917 | $ | 49,762 | $ | 41,209 | $ | 142,946 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 68,719 | — | 68,719 | — | — | 68,719 | ||||||||||||||||||
Total derivative financial liabilities | $ | 302,636 | $ | — | $ | 302,636 | $ | 49,762 | $ | 41,209 | $ | 211,665 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Derivative financial assets: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 192,771 | $ | — | $ | 192,771 | $ | 7,723 | $ | 37,189 | $ | 147,859 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 220,340 | — | 220,340 | — | — | 220,340 | ||||||||||||||||||
Total derivative financial assets | $ | 413,111 | $ | — | $ | 413,111 | $ | 7,723 | $ | 37,189 | $ | 368,199 | ||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 200,207 | $ | — | $ | 200,207 | $ | 46,466 | $ | 25,910 | $ | 127,831 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 85,497 | — | 85,497 | — | — | 85,497 | ||||||||||||||||||
Total derivative financial liabilities | $ | 285,704 | $ | — | $ | 285,704 | $ | 46,466 | $ | 25,910 | $ | 213,328 | ||||||||||||
-1 | The actual amount of collateral received/pledged is limited to the derivative asset/liability balance and does not include excess collateral received/pledged. When excess collateral exists the collateral shown in the table above has been allocated based on the percentage of the actual amount of collateral posted. |
Commitments_Contingencies_and_
Commitments, Contingencies and Guarantees | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments, Contingencies and Guarantees | ' | |||||||
Commitments, Contingencies and Guarantees | ||||||||
Commitments to Extend Credit & Standby and Commercial Letters of Credit | ||||||||
The following represents the Company’s commitments to extend credit, standby letters of credit and commercial letters of credit: | ||||||||
June 30, 2014 | December 31, 2013 | |||||||
(In Thousands) | ||||||||
Commitments to extend credit | $ | 27,218,532 | $ | 26,545,608 | ||||
Standby and commercial letters of credit | 1,999,730 | 2,093,159 | ||||||
Commitments to extend credit are agreements to lend to customers as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. | ||||||||
Standby and commercial letters of credit are commitments issued by the Company to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions, and expire in decreasing amounts with terms ranging from one to four years. | ||||||||
The credit risk involved in issuing letters of credit and commitments is essentially the same as that involved in extending loan facilities to customers. The fair value of the letters of credit and commitments typically approximates the fee received from the customer for issuing such commitments. These fees are deferred and are recognized over the commitment period. At June 30, 2014 and December 31, 2013, the recorded amount of these deferred fees was $7.0 million and $4.9 million, respectively. The Company holds various assets as collateral supporting those commitments for which collateral is deemed necessary. At June 30, 2014, the maximum potential amount of future undiscounted payments the Company could be required to make under outstanding standby letters of credit was $2.0 billion. At June 30, 2014 and December 31, 2013, the Company had reserves related to letters of credit and unfunded commitments recorded in accrued expenses and other liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheet of $92 million and $76 million, respectively. | ||||||||
Loan Sale Recourse | ||||||||
The Company has potential recourse related to FNMA securitizations. At both June 30, 2014 and December 31, 2013, the amount of potential recourse was $20 million, of which the Company had reserved $730 thousand and $738 thousand, respectively, which is recorded in accrued expenses and other liabilities on the Company's Unaudited Condensed Consolidated Balance Sheets for the respective periods. | ||||||||
The Company also issues standard representations and warranties related to mortgage loan sales to government-sponsored agencies. Although these agreements often do not specify limitations, the Company does not believe that any payments related to these representations and warranties would materially change the financial condition or results of operations of the Company. At June 30, 2014 and December 31, 2013, the Company recorded $1 million of reserves in accrued expenses and other liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets related to potential losses from loans sold. | ||||||||
Loss Sharing Agreement | ||||||||
In connection with the Guaranty Bank acquisition, the Bank entered into loss sharing agreements with the FDIC that covered approximately $9.7 billion of loans and OREO, excluding the impact of purchase accounting adjustments. In accordance with the terms of the loss sharing agreements, the FDIC’s obligation to reimburse the Bank for losses with respect to the acquired loans and acquired OREO begins with the first dollar of incurred losses, as defined in the loss sharing agreements. The terms of the loss sharing agreements provide that the FDIC will reimburse the Bank for 80% of incurred losses up to $2.3 billion and 95% of incurred losses in excess of $2.3 billion. Gains and recoveries on covered assets offset incurred losses, or are paid to the FDIC, at the applicable loss share percentage at the time of recovery. The loss sharing agreements provide for FDIC loss sharing for five years for commercial loans and 10 years for single family residential loans. | ||||||||
The provisions of the loss sharing agreements may also require a payment by the Bank to the FDIC on October 15, 2019. On that date, the Bank is required to pay the FDIC 60% of the excess, if any, of (i) $457 million over (ii) the sum of (a) 25% of the total net amounts paid to the Bank under both of the loss share agreements plus (b) 20% of the deemed total cost to the Bank of administering the covered assets under the loss sharing agreements. The deemed total cost to the Bank of administering the covered assets is the sum of 2% of the average of the principal amount of covered assets based on the beginning and end of year balances for each of the 10 years during which the loss sharing agreements are in effect. At June 30, 2014 and December 31, 2013, the Company estimated the potential amount of payment due to the FDIC in 2019, at the end of the loss sharing agreements, to be $143 million and $140 million, respectively. The ultimate settlement amount of this payment due to the FDIC is dependent upon the performance of the underlying covered assets, the passage of time and actual claims submitted to the FDIC. | ||||||||
Legal and Regulatory Proceedings | ||||||||
In the ordinary course of business, the Company is subject to legal proceedings, including claims, litigation, investigations and administrative proceedings, all of which are considered incidental to the normal conduct of business. The Company believes it has substantial defenses to the claims asserted against it in its currently outstanding legal proceedings and, with respect to such legal proceedings, intends to continue to defend itself vigorously against such legal proceedings. | ||||||||
Set forth below are descriptions of certain of the Company’s legal proceedings. | ||||||||
In November 2012, the Company was named as a defendant in a putative class action lawsuit filed in the Superior Court of the State of California, County of Alameda, Cheryl Deaver, on behalf of herself and others so situated v. Compass Bank, wherein the plaintiff alleges the Company failed to provide lawful meal periods or wages in lieu thereof, full compensation for hours worked, or timely wages due at termination (the plaintiff had previously filed a similar lawsuit in May 2011 which was dismissed without prejudice when the plaintiff failed to meet certain filing deadlines). The plaintiff further alleges that the Company did not comply with wage statement requirements. The plaintiff seeks unspecified monetary relief. The Company believes there are substantial defenses to these claims and intends to defend them vigorously. | ||||||||
In June 2013, the Company was named as a defendant in a lawsuit filed in the United States District Court of the Northern District of Alabama, Intellectual Ventures II, LLC v. BBVA Compass Bancshares, Inc. and BBVA Compass, wherein the plaintiff alleges the Company is infringing five patents owned by the plaintiff and related to the security infrastructure for the Company's online banking services. The plaintiff seeks unspecified monetary relief. The Company believes there are substantial defenses to these claims and intends to defend them vigorously. | ||||||||
In March 2014, the Company was named as a defendant in a lawsuit filed in the Circuit Court of the Fourth Judicial Circuit in Duval County, Florida, Jack C. Demetree, et al. v. BBVA Compass, wherein the plaintiffs allege that their accountant stole approximately $16.4 million through unauthorized transactions on their accounts from 2006 to 2013. The plaintiffs seek unspecified monetary relief. The Company believes there are substantial defenses to these claims and intends to defend them vigorously. | ||||||||
The Company (including the Bank) is or may become involved from time to time in information gathering requests, reviews, investigations and proceedings (both formal and informal) by various governmental regulatory agencies, law enforcement authorities and self-regulatory bodies regarding the Company’s business. Such matters could develop into administrative, civil, or criminal proceedings or enforcement actions and may result in material adverse consequences, including without limitation adverse judgments, settlements, fines, penalties, orders, injunctions, alterations in the Company’s business practices or other actions, and could result in additional expenses and collateral costs, including reputational damage, which could have a material adverse impact on the Company’s business, consolidated financial position, results of operations or cash flows. | ||||||||
The Company owns all of the outstanding stock of BSI, a registered broker-dealer. Applicable law limits BSI from deriving more than 25 percent of its gross revenues from underwriting or dealing in bank-ineligible securities (“ineligible revenue”). Prior to the contribution of BSI to the Company in April 2013, BSI’s ineligible revenues in certain periods exceeded the 25 percent limit. It is possible that the Federal Reserve Board may take either formal or informal enforcement action against BSI and the Company and the possibility of civil money penalties cannot be ruled out. At this time, the Company does not know the amount of a potential civil money penalty, if any. | ||||||||
There are other litigation matters that arise in the normal course of business. The Company assesses its liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that the Company will incur a loss and the amount of the loss can be reasonably estimated, the Company records a liability in its consolidated financial statements. These legal reserves may be increased or decreased to reflect any relevant developments. Where a loss is not probable or the amount of loss is not estimable, the Company does not accrue legal reserves. At June 30, 2014, the Company had accrued legal reserves in the amount of $10 million. Additionally, for those matters where a loss is both estimable and reasonably possible, the Company estimates losses that it could incur beyond the accrued legal reserves. Under U.S. GAAP, an event is "reasonably possible" if "the chance of the future event or events occurring is more than remote but less than likely" and an event is "remote" if "the chance of the future event or events occurring is slight." At June 30, 2014, there were no such matters where the Company determined a loss was both estimable and reasonably possible beyond the accrued legal reserve. | ||||||||
While the outcome of legal proceedings and the timing of the ultimate resolution are inherently difficult to predict, based on information currently available, advice of counsel and available insurance coverage, the Company believes that it has established adequate legal reserves. Further, based upon available information, the Company is of the opinion that these legal proceedings, individually or in the aggregate, will not have a material adverse effect on the Company’s financial condition or results of operations. However, in the event of unexpected future developments, it is possible that the ultimate resolution of those matters, if unfavorable, may be material to the Company’s results of operations for any particular period, depending, in part, upon the size of the loss or liability imposed and the operating results for the applicable period. | ||||||||
Income Tax Review | ||||||||
The Company is subject to review and examination from various tax authorities. The Company is currently under examination by the IRS and a number of states, and has received notices of proposed adjustments related to federal and state income taxes due for prior years. Management believes that adequate provisions for income taxes have been recorded. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||
The Company applies the fair value accounting guidance required under ASC Topic 820 which establishes a framework for measuring fair value. This guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. This guidance also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within this fair value hierarchy is based upon the lowest level of input that is significant to the instrument’s fair value measurement. The three levels within the fair value hierarchy are described as follows. | ||||||||||||||||||||||||
• | Level 1 – Fair value is based on quoted prices in an active market for identical assets or liabilities. | |||||||||||||||||||||||
• | Level 2 – Fair value is based on quoted market prices for similar instruments traded in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market. | |||||||||||||||||||||||
• | Level 3 – Fair value is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities would include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar pricing techniques based on the Company’s own assumptions about what market participants would use to price the asset or liability. | |||||||||||||||||||||||
A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments under the fair value hierarchy, is set forth below. These valuation methodologies were applied to the Company’s financial assets and financial liabilities carried at fair value. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use observable market based parameters as inputs. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and the Company’s creditworthiness, among other things, as well as other unobservable parameters. Any such valuation adjustments are applied consistently over time. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and, therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. | ||||||||||||||||||||||||
Financial Instruments Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||||||
Trading account assets and liabilities, securities available for sale, certain mortgage loans held for sale, derivative assets and liabilities, and mortgage servicing rights are recorded at fair value on a recurring basis. The following is a description of the valuation methodologies for these assets and liabilities. | ||||||||||||||||||||||||
Trading account assets and liabilities and investment securities available for sale – Trading account assets and liabilities and investment securities available for sale consist of U.S. Treasury and other U.S. government agencies securities, mortgage-backed securities, collateralized mortgage obligations, debt obligations of state and political subdivisions, other debt and equity securities, and derivative contracts. | ||||||||||||||||||||||||
• | U.S. Treasury and other U.S. government agencies securities are valued based on a market approach using observable inputs such as benchmark yields, reported trades, broker/dealer quotes, benchmark securities, and bids/offers of government-sponsored enterprise securities. These valuations are Level 2 measurements. | |||||||||||||||||||||||
• | Mortgage-backed securities are primarily valued using market-based pricing matrices that are based on observable inputs including benchmark To Be Announced security prices, U.S. Treasury yields, U.S. dollar swap yields, and benchmark floating-rate indices. Mortgage-backed securities pricing may also give consideration to pool-specific data such as prepayment history and collateral characteristics. Valuations for mortgage-backed securities are therefore classified as Level 2 measurements. | |||||||||||||||||||||||
• | Collateralized mortgage obligations are valued using market-based pricing matrices that are based on observable inputs including reported trades, bids, offers, dealer quotes, U.S. Treasury yields, U.S. dollar swap yields, market convention prepayment speeds, tranche-specific characteristics, prepayment history, and collateral characteristics. Fair value measurements for collateralized mortgage obligations are classified as Level 2. | |||||||||||||||||||||||
• | Debt obligations of states and political subdivisions are primarily valued using market-based pricing matrices that are based on observable inputs including Municipal Securities Rulemaking Board reported trades, issuer spreads, material event notices, and benchmark yield curves. These valuations are Level 2 measurements. | |||||||||||||||||||||||
• | Other debt and equity securities consist of mutual funds, foreign and corporate debt, and U.S. government agencies equity securities. Mutual funds are valued based on quoted market prices of identical assets trading on active exchanges. These valuations are Level 1 measurements. Foreign and corporate debt valuations are based on information and assumptions that are observable in the market place. The valuations for these securities are therefore classified as Level 2. U.S. government agency equity securities are valued based on quoted market prices of identical assets trading on active exchanges. These valuations thus qualify as Level 1 measurements. | |||||||||||||||||||||||
• | Other derivative assets and liabilities consist primarily of interest rate and commodity contracts. The Company’s interest rate contracts are valued utilizing Level 2 observable inputs (yield curves and volatilities) to determine a current market price for each interest rate contract. Commodity contracts are priced using raw market data, primarily in the form of quotes for fixed and basis swaps with monthly, quarterly, seasonal or calendar-year terms. Proprietary models provided by a third party are used to generate forward curves and volatility surfaces. As a result of the valuation process and observable inputs used, commodity contracts are classified as Level 2 measurements. To validate the reasonableness of these calculations, management compares the assumptions with market information. | |||||||||||||||||||||||
• | Other trading assets consist of interest-only strips which are valued by an independent third-party. The independent third-party values the assets on a loan-by-loan basis using a discounted cash flow analysis that employs prepayment assumptions, discount rate assumptions, and default curves. The prepayment assumptions are created from actual SBA pool prepayment history. The discount rates are derived from actual SBA loan secondary market transactions. The default curves are created using historical observable and unobservable inputs. As such, interest-only strips are classified as Level 3 measurements. The Company’s SBA department is responsible for ensuring the appropriate application of the valuation, capitalization, and amortization policies of the Company’s interest-only strips. The department performs independent, internal valuations of the interest-only strips on a quarterly basis, which are then reconciled to the third-party valuations to ensure their validity. | |||||||||||||||||||||||
Loans held for sale – The Company has elected to apply the fair value option for single family real estate mortgage loans originated for resale in the secondary market. The election allows for a more effective offset of the changes in fair values of the loans and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting. The Company has not elected the fair value option for other loans held for sale primarily because they are not economically hedged using derivative instruments. | ||||||||||||||||||||||||
The fair value of loans held for sale is based on what secondary markets are currently offering for portfolios with similar characteristics. The changes in fair value of these assets are largely driven by changes in interest rates subsequent to loan funding and changes in the fair value of servicing associated with the mortgage loan held for sale. Both the mortgage loans held for sale and the related forward contracts are classified as Level 2. | ||||||||||||||||||||||||
At both June 30, 2014 and December 31, 2013, no loans held for sale for which the fair value option was elected were 90 days or more past due or were in nonaccrual. Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest and fees on loans in the Company's Unaudited Condensed Consolidated Statements of Income. Net gains (losses) of $5.4 million and $(7.7) million resulting from changes in fair value of these loans were recorded in noninterest income during the three months ended June 30, 2014 and 2013, respectively. Net gains (losses) of $6.1 million and $(14.5) million resulting from changes in fair value of these loans were recorded in noninterest income during the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||
The Company also had fair value changes on forward contracts related to residential mortgage loans held for sale of approximately $(2.6) million and $13.5 million for the three months ended June 30, 2014 and 2013, respectively, and $(4.1) million and $12.8 million for the six months ended June 30, 2014 and 2013, respectively. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk. | ||||||||||||||||||||||||
The following tables summarize the difference between the aggregate fair value and the aggregate unpaid principal balance for residential mortgage loans measured at fair value. | ||||||||||||||||||||||||
Aggregate Fair Value | Aggregate Unpaid Principal Balance | Difference | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Residential mortgage loans held for sale | $ | 211,879 | $ | 203,361 | $ | 8,518 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Residential mortgage loans held for sale | $ | 139,750 | $ | 137,300 | $ | 2,450 | ||||||||||||||||||
Derivative assets and liabilities – Derivative assets and liabilities are measured using models that primarily use market observable inputs, such as quoted security prices, and are accordingly classified as Level 2. The derivative assets and liabilities classified within Level 3 of the fair value hierarchy were comprised of interest rate lock commitments that are valued using third-party software that calculates fair market value considering current quoted TBA and other market based prices and then applies closing ratio assumptions based on software-produced pull through ratios that are generated using the Company’s historical fallout activity. Based upon this process, the fair value measurement obtained for these financial instruments is deemed a Level 3 classification. The Company's Secondary Marketing Committee is responsible for the appropriate application of the valuation policies and procedures surrounding the Company’s interest rate lock commitments. Policies established to govern mortgage pipeline risk management activities must be approved by the Company’s Asset/Liability Committee on an annual basis. | ||||||||||||||||||||||||
Other assets – Other assets measured at fair value on a recurring basis and classified within Level 3 of the fair value hierarchy were comprised of MSRs that are valued through a discounted cash flow analysis using a third-party commercial valuation system. The valuation takes into consideration the objective characteristics of the MSR portfolio, such as loan amount, note rate, service fee, loan term, and common industry assumptions, such as servicing costs, ancillary income, prepayment estimates, earning rates, cost of fund rates, discount rates, etc. The Company’s portfolio-specific factors are also considered in calculating the fair value of MSRs to the extent one can reasonably assume a buyer would also incorporate these factors. Examples of such factors are geographical concentrations of the portfolio, liquidity considerations such as housing authority loans which have a limited number of approved servicers, or additional views of risk not inherently accounted for in prepayment assumptions. Product liquidity and these other risks are generally incorporated through adjustment of discount factors applied to forecasted cash flows. Based on this method of pricing MSRs, the fair value measurement obtained for these financial instruments is deemed a Level 3 classification. The value of the MSR is calculated by a third-party firm that specializes in the MSR market and valuation services. Additionally, the Company obtains a valuation from an independent party to compare for reasonableness. The Company’s Secondary Marketing Committee is responsible for ensuring the appropriate application of valuation, capitalization, and fair value decay policies for the MSR portfolio. The Committee meets at least monthly to review the MSR portfolio. | ||||||||||||||||||||||||
The following tables summarize the financial assets and liabilities measured at fair value on a recurring basis. | ||||||||||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||||||
June 30, 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Trading account assets: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 25,679 | $ | — | $ | 25,679 | $ | — | ||||||||||||||||
Mortgage-backed securities | 23,344 | — | 23,344 | — | ||||||||||||||||||||
Collateralized mortgage obligations | 9,870 | — | 9,870 | — | ||||||||||||||||||||
State and political subdivisions | 3,682 | — | 3,682 | — | ||||||||||||||||||||
Other debt securities | 2,507 | — | 2,507 | — | ||||||||||||||||||||
Interest rate contracts | 271,908 | — | 271,908 | — | ||||||||||||||||||||
Commodity contracts | 15,198 | — | 15,198 | — | ||||||||||||||||||||
Foreign exchange contracts | 2,869 | — | 2,869 | — | ||||||||||||||||||||
Other trading assets | 1,832 | — | 123 | 1,709 | ||||||||||||||||||||
Total trading account assets | 356,889 | — | 355,180 | 1,709 | ||||||||||||||||||||
Loans held for sale | 211,879 | — | 211,879 | — | ||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | 571,032 | — | 571,032 | — | ||||||||||||||||||||
Mortgage-backed securities | 5,007,481 | — | 5,007,481 | — | ||||||||||||||||||||
Collateralized mortgage obligations | 2,357,625 | — | 2,357,625 | — | ||||||||||||||||||||
States and political subdivisions | 497,990 | — | 497,990 | — | ||||||||||||||||||||
Other debt securities | 37,094 | 37,045 | 49 | — | ||||||||||||||||||||
Equity securities (1) | 70 | 64 | — | 6 | ||||||||||||||||||||
Total investment securities available for sale | 8,471,292 | 37,109 | 8,434,177 | 6 | ||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | 74,914 | 141 | 70,951 | 3,822 | ||||||||||||||||||||
Equity contracts | 54,582 | — | 54,582 | — | ||||||||||||||||||||
Foreign exchange contracts | 168 | — | 168 | — | ||||||||||||||||||||
Total derivative assets | 129,664 | 141 | 125,701 | 3,822 | ||||||||||||||||||||
Other assets | 31,104 | — | — | 31,104 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Trading account liabilities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 2,472 | $ | — | $ | 2,472 | $ | — | ||||||||||||||||
Mortgage-backed securities | 13,109 | — | 13,109 | — | ||||||||||||||||||||
Interest rate contracts | 211,684 | — | 211,684 | — | ||||||||||||||||||||
Commodity contracts | 12,897 | — | 12,897 | — | ||||||||||||||||||||
Foreign exchange contracts | 2,154 | — | 2,154 | — | ||||||||||||||||||||
Other trading liabilities | 124 | — | 124 | — | ||||||||||||||||||||
Total trading account liabilities | 242,440 | — | 242,440 | — | ||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate contracts | 16,777 | — | 16,776 | 1 | ||||||||||||||||||||
Equity contracts | 53,117 | — | 53,117 | — | ||||||||||||||||||||
Foreign exchange contracts | 4,830 | — | 4,830 | — | ||||||||||||||||||||
Total derivative liabilities | 74,724 | — | 74,723 | 1 | ||||||||||||||||||||
-1 | Excludes $501 million of FHLB and Federal Reserve stock required to be owned by the Company at June 30, 2014. These securities are carried at par. | |||||||||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||||||
December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Trading account assets: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 24,655 | $ | — | $ | 24,655 | $ | — | ||||||||||||||||
Mortgage-backed securities | 1,285 | — | 1,285 | — | ||||||||||||||||||||
State and political subdivisions | 2,160 | — | 2,160 | — | ||||||||||||||||||||
Other equity securities | 2 | — | 2 | — | ||||||||||||||||||||
Interest rate contracts | 262,578 | — | 262,578 | — | ||||||||||||||||||||
Commodity contracts | 23,132 | — | 23,132 | — | ||||||||||||||||||||
Foreign exchange contracts | 4,450 | — | 4,450 | — | ||||||||||||||||||||
Other trading assets | 1,668 | — | 23 | 1,645 | ||||||||||||||||||||
Total trading account assets | 319,930 | — | 318,285 | 1,645 | ||||||||||||||||||||
Loans held for sale | 139,750 | — | 139,750 | — | ||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | 260,937 | — | 260,937 | — | ||||||||||||||||||||
Mortgage-backed securities | 5,233,791 | — | 5,233,791 | — | ||||||||||||||||||||
Collateralized mortgage obligations | 1,756,398 | — | 1,756,398 | — | ||||||||||||||||||||
States and political subdivisions | 509,436 | — | 509,436 | — | ||||||||||||||||||||
Other debt securities | 40,333 | 40,283 | 50 | — | ||||||||||||||||||||
Equity securities (1) | 63 | 57 | — | 6 | ||||||||||||||||||||
Total investment securities available for sale | 7,800,958 | 40,340 | 7,760,612 | 6 | ||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | 73,949 | — | 73,002 | 947 | ||||||||||||||||||||
Equity contracts | 47,875 | — | 47,875 | — | ||||||||||||||||||||
Foreign exchange contracts | 1,127 | — | 1,127 | — | ||||||||||||||||||||
Total derivative assets | 122,951 | — | 122,004 | 947 | ||||||||||||||||||||
Other assets | 30,065 | — | — | 30,065 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Trading account liabilities: | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 5,568 | $ | — | $ | 5,568 | $ | — | ||||||||||||||||
Interest rate contracts | 200,899 | — | 200,899 | — | ||||||||||||||||||||
Commodity contracts | 18,373 | — | 18,373 | — | ||||||||||||||||||||
Foreign exchange contracts | 3,894 | — | 3,894 | — | ||||||||||||||||||||
Other trading liabilities | 23 | — | 23 | — | ||||||||||||||||||||
Total trading account liabilities | 228,757 | — | 228,757 | — | ||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate contracts | 11,975 | — | 11,918 | 57 | ||||||||||||||||||||
Equity contracts | 46,573 | — | 46,573 | — | ||||||||||||||||||||
Foreign exchange contracts | 2,746 | — | 2,746 | — | ||||||||||||||||||||
Total derivative liabilities | 61,294 | — | 61,237 | 57 | ||||||||||||||||||||
-1 | Excludes $512 million of FHLB and Federal Reserve stock required to be owned by the Company at December 31, 2013. These securities are carried at par. | |||||||||||||||||||||||
There were no transfers between Levels 1 or 2 of the fair value hierarchy for the three and six months ended June 30, 2014 and 2013. It is the Company’s policy to value any transfers between levels of the fair value hierarchy based on end of period fair values. | ||||||||||||||||||||||||
The following table reconciles the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). | ||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||
Three Months Ended June 30, | Other Trading Assets | States and Political Subdivisions | Equity Securities | Interest Rate Contracts, net | Other Assets | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance, April 1, 2013 | $ | 2,020 | $ | 8 | $ | 6 | $ | 4,391 | $ | 18,471 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | (58 | ) | — | — | (3,858 | ) | 280 | |||||||||||||||||
Included in other comprehensive income | — | — | — | — | — | |||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 3,872 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | (8 | ) | — | — | — | ||||||||||||||||||
Balance, June 30, 2013 | $ | 1,962 | $ | — | $ | 6 | $ | 533 | $ | 22,623 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2013 | $ | (58 | ) | $ | — | $ | — | $ | (3,858 | ) | $ | 280 | ||||||||||||
Balance, April 1, 2014 | $ | 1,692 | $ | — | $ | 6 | $ | 1,682 | $ | 31,828 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | 17 | — | — | 2,139 | (2,647 | ) | ||||||||||||||||||
Included in other comprehensive income | — | — | — | — | — | |||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 1,923 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | — | — | — | ||||||||||||||||||||
Balance, June 30, 2014 | $ | 1,709 | $ | — | $ | 6 | $ | 3,821 | $ | 31,104 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2014 | $ | 17 | $ | — | $ | — | $ | 2,139 | $ | (2,647 | ) | |||||||||||||
-1 | Included in noninterest income in the Unaudited Condensed Consolidated Statements of Income. | |||||||||||||||||||||||
The following table reconciles the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). | ||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||
Six Months Ended June 30, | Other Trading Assets | States and Political Subdivisions | Equity Securities | Interest Rate Contracts, net | Other Assets | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 2,083 | $ | 8 | $ | 6 | $ | 5,016 | $ | 13,255 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | (121 | ) | — | — | (4,483 | ) | 235 | |||||||||||||||||
Included in other comprehensive income | — | — | — | — | — | |||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 9,133 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | (8 | ) | — | — | — | ||||||||||||||||||
Balance, June 30, 2013 | $ | 1,962 | $ | — | $ | 6 | $ | 533 | $ | 22,623 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2013 | $ | (121 | ) | $ | — | $ | — | $ | (4,483 | ) | $ | 235 | ||||||||||||
Balance, January 1, 2014 | $ | 1,645 | $ | — | $ | 6 | $ | 890 | $ | 30,065 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | 64 | — | — | 2,931 | (2,967 | ) | ||||||||||||||||||
Included in other comprehensive income | — | — | — | — | ||||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 4,006 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | — | — | — | — | |||||||||||||||||||
Balance, June 30, 2014 | $ | 1,709 | $ | — | $ | 6 | $ | 3,821 | $ | 31,104 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2014 | $ | 64 | $ | — | $ | — | $ | 2,931 | $ | (2,967 | ) | |||||||||||||
-1 | Included in noninterest income in the Unaudited Condensed Consolidated Statements of Income. | |||||||||||||||||||||||
Assets Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||||||||||||
Periodically, certain assets may be recorded at fair value on a non-recurring basis. These adjustments to fair value usually result from the application of lower of cost or fair value accounting or write-downs of individual assets due to impairment. The following table represents those assets that were subject to fair value adjustments during the three and six months ended June 30, 2014 and 2013 and still held as of the end of the period, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period. | ||||||||||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Total Gains (Losses) | ||||||||||||||||||||
June 30, 2014 | (Level 1) | (Level 2) | (Level 3) | Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Investment securities held to maturity | $ | 3,690 | $ | — | $ | — | $ | 3,690 | $ | (34 | ) | $ | (180 | ) | ||||||||||
Impaired loans (1) | 131,622 | — | — | 131,622 | (14,532 | ) | (18,875 | ) | ||||||||||||||||
OREO | 21,113 | — | — | 21,113 | (689 | ) | (1,582 | ) | ||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Total Gains (Losses) | ||||||||||||||||||||
June 30, 2013 | (Level 1) | (Level 2) | (Level 3) | Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Investment securities held to maturity | $ | 3,687 | $ | — | $ | — | $ | 3,687 | $ | (462 | ) | $ | (462 | ) | ||||||||||
Loans held for sale | 7,616 | — | — | 7,616 | — | 182 | ||||||||||||||||||
Impaired loans (1) | 318,288 | — | — | 318,288 | (18,681 | ) | (35,723 | ) | ||||||||||||||||
OREO | 52,798 | — | — | 52,798 | (2,789 | ) | (4,593 | ) | ||||||||||||||||
-1 | Total gains (losses) represent charge-offs on impaired loans for which adjustments are based on the appraised value of the collateral. | |||||||||||||||||||||||
The following is a description of the methodologies applied for valuing these assets: | ||||||||||||||||||||||||
Investment securities held to maturity – Nonrecurring fair value adjustments on investment securities held to maturity reflect impairment write-downs which the Company believes are other than temporary. For analyzing these securities, the Company has retained a third party valuation firm. Impairment is determined through the use of cash flow models that estimate cash flows on the underlying mortgages using security-specific collateral and the transaction structure. The cash flow models incorporate the remaining cash flows which are adjusted for future expected credit losses. Future expected credit losses are determined by using various assumptions such as current default rates, prepayment rates, and loss severities. The Company develops these assumptions through the use of market data published by third party sources in addition to historical analysis which includes actual delinquency and default information through the current period. The expected cash flows are then discounted at the interest rate used to recognize interest income on the security to arrive at a present value amount. As the fair value measurements are derived using a discounted cash flow modeling approach, the nonrecurring fair value measurements are classified as Level 3. | ||||||||||||||||||||||||
Loans held for sale – Loans held for sale for which the fair value option has not been elected are carried at the lower of cost or fair value and are evaluated on an individual basis. The fair value of each loan held for sale is based on the collateral value of the underlying asset. Therefore, loans held for sale subjected to nonrecurring fair value adjustments are classified as Level 3. There were no loans held for sale subjected to nonrecurring fair value measurements at June 30, 2014. | ||||||||||||||||||||||||
Impaired Loans – Impaired loans measured at fair value on a non-recurring basis represent the carrying value of impaired loans for which adjustments are based on the appraised value of the collateral. Nonrecurring fair value adjustments to impaired loans reflect full or partial write-downs that are generally based on the fair value of the underlying collateral supporting the loan. Loans subjected to nonrecurring fair value measurements based on the current estimated fair value of the collateral are classified as Level 3. | ||||||||||||||||||||||||
OREO – OREO is recorded on the Company's Unaudited Condensed Consolidated Balance Sheets at the lower of recorded balance or fair value, which is based on appraisals and third-party price opinions, less estimated costs to sell. The fair value is classified as Level 3. | ||||||||||||||||||||||||
The table below presents quantitative information about the significant unobservable inputs for material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring and nonrecurring basis. | ||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||||||||||
Fair Value at | Range of Unobservable Inputs | |||||||||||||||||||||||
June 30, 2014 | Valuation Technique | Unobservable Input(s) | (Weighted Average) | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Recurring fair value measurements: | ||||||||||||||||||||||||
Other trading assets | $ | 1,709 | Discounted cash flow | Default rate | 9.80% | |||||||||||||||||||
Prepayment rate | 5.8% - 10.2% (7.4%) | |||||||||||||||||||||||
Interest rate contracts | 3,821 | Discounted cash flow | Closing ratios (pull-through) | 0.0% - 98.7% (55.7%) | ||||||||||||||||||||
Cap grids | 0.4% - 2.5% (1.0%) | |||||||||||||||||||||||
Other assets - MSRs | 31,104 | Discounted cash flow | Discount rate | 10.0% - 11.0% (10.0%) | ||||||||||||||||||||
Constant prepayment rate or life speed | 6.1% - 57.1% (9.7%) | |||||||||||||||||||||||
Cost to service | 49.4% - 551.2% (65.4%) | |||||||||||||||||||||||
Nonrecurring fair value measurements: | ||||||||||||||||||||||||
Investment securities held to maturity | $ | 3,690 | Discounted cash flow | Prepayment rate | 6.6% - 7.0% (6.8%) | |||||||||||||||||||
Default rate | 4.6% - 7.3% (5.9%) | |||||||||||||||||||||||
Loss severity | 49.2% - 93.0% (71.1%) | |||||||||||||||||||||||
Impaired loans | 131,622 | Appraised value | Appraised value | 0.0% - 100.0% (33.3%) | ||||||||||||||||||||
OREO | 21,113 | Appraised value | Appraised value | 8.00% | ||||||||||||||||||||
The following provides a description of the sensitivity of the valuation technique to changes in unobservable inputs for recurring fair value measurements. | ||||||||||||||||||||||||
Recurring Fair Value Measurements Using Significant Unobservable Inputs | ||||||||||||||||||||||||
Other Trading Assets – Interest-Only Strips | ||||||||||||||||||||||||
Significant unobservable inputs used in the valuation of the Company’s interest-only strips include default rates and prepayment assumptions. Significant increases in either of these inputs in isolation would result in significantly lower fair value measurements. Generally, a change in the assumption used for the probability of default is accompanied by a directionally opposite change in the assumption used for prepayment rates. | ||||||||||||||||||||||||
Interest Rate Contracts - Interest Rate Lock Commitments | ||||||||||||||||||||||||
Significant unobservable inputs used in the valuation of interest rate lock commitments are pull-through and cap grids. Increases or decreases in the pull-through or cap grids will have a corresponding impact in the value of interest rate contracts. | ||||||||||||||||||||||||
Other Assets - MSRs | ||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of MSRs are discount rates, constant prepayment rate or life speed, and cost to service assumptions. The impact of prepayments and changes in the discount rate are based on a variety of underlying inputs. Increases or decreases to the underlying cash flow inputs will have a corresponding impact on the value of the MSR asset. The impact of the costs to service assumption will have a directionally opposite change in the fair value of the MSR asset. | ||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||
The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are as follows: | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Carrying Amount | Estimated Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Financial Instruments: | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 3,264,202 | $ | 3,264,202 | $ | 3,264,202 | $ | — | $ | — | ||||||||||||||
Trading account assets | 356,889 | 356,889 | — | 355,180 | 1,709 | |||||||||||||||||||
Investment securities available for sale | 8,972,237 | 8,972,237 | 37,109 | 8,434,177 | 500,951 | |||||||||||||||||||
Investment securities held to maturity | 1,448,192 | 1,356,799 | — | — | 1,356,799 | |||||||||||||||||||
Loans held for sale | 211,879 | 211,879 | — | 211,879 | — | |||||||||||||||||||
Loans, net | 53,371,033 | 51,502,147 | — | — | 51,502,147 | |||||||||||||||||||
Derivative assets | 129,664 | 129,664 | 141 | 125,701 | 3,822 | |||||||||||||||||||
Other assets | 31,104 | 31,104 | — | — | 31,104 | |||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | $ | 58,118,406 | $ | 58,169,917 | $ | — | $ | 58,169,917 | $ | — | ||||||||||||||
FHLB and other borrowings | 3,958,497 | 3,960,161 | — | 3,960,161 | — | |||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 864,263 | 864,263 | — | 864,263 | — | |||||||||||||||||||
Other short-term borrowings | 15,705 | 15,705 | — | 15,705 | — | |||||||||||||||||||
Trading account liabilities | 242,440 | 242,440 | — | 242,440 | — | |||||||||||||||||||
Derivative liabilities | 74,724 | 74,724 | — | 74,723 | 1 | |||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Carrying Amount | Estimated Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Financial Instruments: | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 3,598,460 | $ | 3,598,460 | $ | 3,598,460 | $ | — | $ | — | ||||||||||||||
Trading account assets | 319,930 | 319,930 | — | 318,285 | 1,645 | |||||||||||||||||||
Investment securities available for sale | 8,313,085 | 8,313,085 | 40,340 | 7,760,612 | 512,133 | |||||||||||||||||||
Investment securities held to maturity | 1,519,196 | 1,405,258 | — | — | 1,405,258 | |||||||||||||||||||
Loans held for sale | 147,109 | 147,109 | — | 139,750 | 7,359 | |||||||||||||||||||
Loans, net | 49,966,297 | 47,822,339 | — | — | 47,822,339 | |||||||||||||||||||
Derivative assets | 122,951 | 122,951 | — | 122,004 | 947 | |||||||||||||||||||
Other assets | 30,065 | 30,065 | — | — | 30,065 | |||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | $ | 54,437,490 | $ | 54,492,651 | $ | — | $ | 54,492,651 | $ | — | ||||||||||||||
FHLB and other borrowings | 4,298,707 | 4,287,220 | — | 4,287,220 | — | |||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 852,570 | 852,570 | — | 852,570 | — | |||||||||||||||||||
Other short-term borrowings | 5,591 | 5,591 | — | 5,591 | — | |||||||||||||||||||
Trading account liabilities | 228,757 | 228,757 | — | 228,757 | — | |||||||||||||||||||
Derivative liabilities | 61,294 | 61,294 | — | 61,237 | 57 | |||||||||||||||||||
The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments not carried at fair value: | ||||||||||||||||||||||||
Cash and cash equivalents: Cash and cash equivalents have maturities of three months or less. Accordingly, the carrying amount approximates fair value. Because these amounts generally relate to either currency or highly liquid assets, these are considered a Level 1 measurement. | ||||||||||||||||||||||||
Investment securities held to maturity: The fair values of securities held to maturity are estimated using a discounted cash flow approach. The discounted cash flow model uses inputs such as estimated prepayment speed, loss rates, and default rates. They are considered a Level 3 measurement as the valuation employs significant unobservable inputs. | ||||||||||||||||||||||||
Loans: Loans are presented net of the allowance for loan losses and are valued using discounted cash flows. The discount rates used to determine the present value of these loans are based on current market interest rates for loans with similar credit risk and term. They are considered a Level 3 measurement as the valuation employs significant unobservable inputs. | ||||||||||||||||||||||||
Deposits: The fair values of demand deposits are equal to the carrying amounts. Demand deposits include noninterest bearing demand deposits, savings accounts, NOW accounts and money market demand accounts. Discounted cash flows have been used to value fixed rate term deposits. The discount rate used is based on interest rates currently being offered by the Company on comparable deposits as to amount and term. They are considered a Level 2 measurement as the valuation primarily employs observable inputs for similar instruments. | ||||||||||||||||||||||||
Short-term borrowings: The carrying amounts of federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings approximates fair value. They are therefore considered a Level 2 measurement. | ||||||||||||||||||||||||
FHLB and other borrowings: The fair value of the Company’s fixed rate borrowings, which includes the Company’s Capital Securities, are estimated using discounted cash flows, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The carrying amount of the Company’s variable rate borrowings approximates fair value. As such, these borrowings are considered a Level 2 measurement as the valuation primarily employs observable inputs for similar instruments. |
Comprehensive_Income
Comprehensive Income | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||
Comprehensive Income | ' | |||||||||||||||||||||||
Comprehensive Income | ||||||||||||||||||||||||
Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances arising from nonowner sources. The following summarizes the change in the components of other comprehensive income (loss). | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Pretax | Tax Expense/ (Benefit) | After-tax | Pretax | Tax Expense/ (Benefit) | After-tax | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||
Unrealized holding gains (losses) arising during period from securities available for sale | $ | 40,454 | $ | 14,539 | $ | 25,915 | $ | (140,662 | ) | $ | (51,485 | ) | $ | (89,177 | ) | |||||||||
Less: reclassification adjustment for net gains on sale of securities in net income | 21,464 | 7,712 | 13,752 | 18,075 | 6,623 | 11,452 | ||||||||||||||||||
Net change in unrealized gains (losses) on securities available for sale | 18,990 | 6,827 | 12,163 | (158,737 | ) | (58,108 | ) | (100,629 | ) | |||||||||||||||
Change in unamortized net holding losses on investment securities held to maturity | 2,694 | 967 | 1,727 | 5,789 | 2,121 | 3,668 | ||||||||||||||||||
Less: non-credit related impairment on investment securities held to maturity | — | — | — | 2,288 | 838 | 1,450 | ||||||||||||||||||
Change in unamortized non-credit related impairment on investment securities held to maturity | 369 | 132 | 237 | 72 | 27 | 45 | ||||||||||||||||||
Net change in unamortized holding losses on securities held to maturity | 3,063 | 1,099 | 1,964 | 3,573 | 1,310 | 2,263 | ||||||||||||||||||
Unrealized holding gains (losses) arising during period from cash flow hedge instruments | (1,365 | ) | (490 | ) | (875 | ) | 7,662 | 2,780 | 4,882 | |||||||||||||||
Change in defined benefit plans | — | — | — | — | (36 | ) | 36 | |||||||||||||||||
Other comprehensive income (loss) | $ | 20,688 | $ | 7,436 | $ | 13,252 | $ | (147,502 | ) | $ | (54,054 | ) | $ | (93,448 | ) | |||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Pretax | Tax Expense/ (Benefit) | After-tax | Pretax | Tax Expense/ (Benefit) | After-tax | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||
Unrealized holding gains (losses) arising during period from securities available for sale | $ | 81,416 | $ | 29,261 | $ | 52,155 | $ | (145,611 | ) | $ | (53,294 | ) | $ | (92,317 | ) | |||||||||
Less: reclassification adjustment for net gains on sale of securities in net income | 37,898 | 13,620 | 24,278 | 33,030 | 12,089 | 20,941 | ||||||||||||||||||
Net change in unrealized gains (losses) on securities available for sale | 43,518 | 15,641 | 27,877 | (178,641 | ) | (65,383 | ) | (113,258 | ) | |||||||||||||||
Change in unamortized net holding losses on investment securities held to maturity | 7,468 | 2,683 | 4,785 | 9,535 | 3,490 | 6,045 | ||||||||||||||||||
Less: non-credit related impairment on investment securities held to maturity | 235 | 84 | 151 | 2,288 | 838 | 1,450 | ||||||||||||||||||
Change in unamortized non-credit related impairment on investment securities held to maturity | 754 | 271 | 483 | 1,713 | 627 | 1,086 | ||||||||||||||||||
Net change in unamortized holding losses on securities held to maturity | 7,987 | 2,870 | 5,117 | 8,960 | 3,279 | 5,681 | ||||||||||||||||||
Unrealized holding gains (losses) arising during period from cash flow hedge instruments | (2,626 | ) | (944 | ) | (1,682 | ) | 9,842 | 3,577 | 6,265 | |||||||||||||||
Change in defined benefit plans | (2,672 | ) | (1,001 | ) | (1,671 | ) | 1,017 | 337 | 680 | |||||||||||||||
Other comprehensive income (loss) | $ | 46,207 | $ | 16,566 | $ | 29,641 | $ | (158,822 | ) | $ | (58,190 | ) | $ | (100,632 | ) | |||||||||
Activity in accumulated other comprehensive income (loss), net of tax was as follows: | ||||||||||||||||||||||||
Unrealized Gains (Losses) on Securities Available for Sale and Transferred to Held to Maturity | Accumulated (Gains) Losses on Cash Flow Hedging Instruments | Defined Benefit Plan Adjustment | Unamortized Impairment Losses on Investment Securities Held to Maturity | Total | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 86,379 | $ | (13,387 | ) | $ | (38,243 | ) | $ | (8,691 | ) | $ | 26,058 | |||||||||||
Other comprehensive income (loss) before reclassifications | (92,317 | ) | 4,816 | — | (1,450 | ) | (88,951 | ) | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (14,896 | ) | 1,449 | 680 | 1,086 | (11,681 | ) | |||||||||||||||||
Net current period other comprehensive income (loss) | (107,213 | ) | 6,265 | 680 | (364 | ) | (100,632 | ) | ||||||||||||||||
Balance, June 30, 2013 | $ | (20,834 | ) | $ | (7,122 | ) | $ | (37,563 | ) | $ | (9,055 | ) | $ | (74,574 | ) | |||||||||
Balance, January 1, 2014 | $ | (31,490 | ) | $ | (5,289 | ) | $ | (41,921 | ) | $ | (9,236 | ) | $ | (87,936 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | 52,155 | (2,789 | ) | — | (151 | ) | 49,215 | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (19,493 | ) | 1,107 | (1,671 | ) | 483 | (19,574 | ) | ||||||||||||||||
Net current period other comprehensive income (loss) | 32,662 | (1,682 | ) | (1,671 | ) | 332 | 29,641 | |||||||||||||||||
Balance, June 30, 2014 | $ | 1,172 | $ | (6,971 | ) | $ | (43,592 | ) | $ | (8,904 | ) | $ | (58,295 | ) | ||||||||||
The following table presents information on reclassifications out of accumulated other comprehensive income. | ||||||||||||||||||||||||
Details About Accumulated Other Comprehensive Income Components | Amounts Reclassified From Accumulated Other Comprehensive Income (1) | Condensed Consolidated Statement of Income Caption | ||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Unrealized Gains (Losses) on Securities Available for Sale and Transferred to Held to Maturity | $ | 21,464 | $ | 18,075 | $ | 37,898 | $ | 33,030 | Investment securities gains, net | |||||||||||||||
(2,694 | ) | (5,789 | ) | (7,468 | ) | (9,535 | ) | Interest on investment securities held to maturity | ||||||||||||||||
18,770 | 12,286 | 30,430 | 23,495 | |||||||||||||||||||||
(6,745 | ) | (4,502 | ) | (10,937 | ) | (8,599 | ) | Income tax expense | ||||||||||||||||
$ | 12,025 | $ | 7,784 | $ | 19,493 | $ | 14,896 | Net of tax | ||||||||||||||||
Accumulated (Gains) Losses on Cash Flow Hedging Instruments | $ | 1,212 | $ | 591 | $ | 1,824 | $ | 1,180 | Interest and fees on loans | |||||||||||||||
(1,776 | ) | (1,734 | ) | (3,551 | ) | (3,456 | ) | Interest and fees on FHLB advances | ||||||||||||||||
(564 | ) | (1,143 | ) | (1,727 | ) | (2,276 | ) | |||||||||||||||||
203 | 416 | 620 | 827 | Income tax benefit | ||||||||||||||||||||
$ | (361 | ) | $ | (727 | ) | $ | (1,107 | ) | $ | (1,449 | ) | Net of tax | ||||||||||||
Defined Benefit Plan Adjustment | $ | — | $ | — | $ | 2,672 | $ | (1,017 | ) | -2 | ||||||||||||||
— | (36 | ) | (1,001 | ) | 337 | Income tax (expense) benefit | ||||||||||||||||||
$ | — | $ | (36 | ) | $ | 1,671 | $ | (680 | ) | Net of tax | ||||||||||||||
Unamortized Impairment Losses on Investment Securities Held to Maturity | $ | (369 | ) | $ | (72 | ) | $ | (754 | ) | $ | (1,713 | ) | Interest on investment securities held to maturity | |||||||||||
132 | 27 | 271 | 627 | Income tax benefit | ||||||||||||||||||||
$ | (237 | ) | $ | (45 | ) | $ | (483 | ) | $ | (1,086 | ) | Net of tax | ||||||||||||
-1 | Amounts in parentheses indicate debits to the consolidated statement of income. | |||||||||||||||||||||||
-2 | These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 18, Benefit Plans, in the Notes to the December 31, 2013, Consolidated Financial Statements for additional details). |
Supplemental_Disclosure_for_St
Supplemental Disclosure for Statement of Cash Flows | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||
Supplemental Disclosure for Statement of Cash Flows | ' | |||||||
Supplemental Disclosure for Statement of Cash Flows | ||||||||
The following table presents the Company’s supplemental disclosures for statement of cash flows. | ||||||||
Six Months Ended June 30, | ||||||||
2014 | 2013 | |||||||
(In Thousands) | ||||||||
Supplemental disclosures of cash flow information: | ||||||||
Interest paid | $ | 134,941 | $ | 132,366 | ||||
Net income taxes paid | 28,025 | 72,124 | ||||||
Supplemental schedule of noncash investing and financing activities: | ||||||||
Transfer of loans and loans held for sale to OREO | $ | 11,614 | $ | 20,220 | ||||
Transfer of loans to loans held for sale | — | 55,000 | ||||||
Change in unrealized gain (loss) on available for sale securities | 43,518 | (178,641 | ) | |||||
Issuance of restricted stock, net of cancellations | (1,060 | ) | (596 | ) | ||||
Business combinations: | ||||||||
Entities acquired: | ||||||||
Assets acquired | 117,068 | — | ||||||
Liabilities assumed | 18,329 | — | ||||||
Segment_Information
Segment Information | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||
Segment Information | ||||||||||||||||||||||||
The Company’s operating segments are based on the Company’s lines of business. Each line of business is a strategic unit that serves a particular group of customers that have certain common characteristics through various products and services. The operating segment results include certain overhead allocations and intercompany transactions. All intercompany transactions have been eliminated to determine the consolidated balances. The Company operates primarily in the United States, and, accordingly, revenue and assets outside the United States are not material. There are no individual customers whose revenues exceeded 10% of consolidated revenue. The Company’s operating segments are Wealth and Retail Banking, Commercial Banking, Corporate and Investment Banking, and Treasury. | ||||||||||||||||||||||||
The Wealth and Retail Banking segment serves the Company’s consumer customers through its 673 full-service banking centers and through the use of alternative delivery channels, such as the internet, mobile devices and telephone banking. The Wealth and Retail Banking segment provides individuals with comprehensive products and services, including home mortgages, credit and debit cards, deposit accounts, insurance products, mutual funds and brokerage services. The Wealth and Retail Banking segment also provides private banking services to high net worth individuals and wealth management services, including specialized investment portfolio management, traditional credit products, traditional trust and estate services, investment advisory services, financial counseling and customized services, to companies and their employees. In addition, the Wealth and Retail Banking segment serves the Company’s small business customers. | ||||||||||||||||||||||||
The Commercial Banking segment is responsible for providing a full array of banking and investment services to businesses in the Company’s markets. In addition to traditional credit and deposit products, the Commercial Banking segment also supports its customers with capabilities in treasury management, leasing, accounts receivable purchasing, asset-based lending, international services, and insurance and investment products. In addition, the Commercial Banking segment is responsible for the Company’s indirect automobile portfolio. | ||||||||||||||||||||||||
The Corporate and Investment Banking segment is responsible for providing a full array of banking and investment services to corporate and institutional clients. In addition to traditional credit and deposit products, the Corporate and Investment Banking segment also supports its customers with capabilities in treasury management, leasing, accounts receivable purchasing, asset-based lending, international services, and interest rate protection and investment products. | ||||||||||||||||||||||||
The Treasury segment’s primary function is to manage the liquidity and funding positions of the Company, the interest rate sensitivity of the Company's balance sheet, and to manage the investment securities portfolio. | ||||||||||||||||||||||||
Corporate Support and Other includes activities that are not directly attributable to the operating segments, for example, the activities of the Parent and corporate support functions that are not directly attributable to a strategic business segment, as well as the elimination of intercompany transactions. Corporate Support and Other also includes activities associated with assets and liabilities of Guaranty Bank acquired by the Company in 2009 and the related FDIC indemnification asset as well as the activities associated with Simple acquired by the Company in 2014. | ||||||||||||||||||||||||
The following tables present the segment information for the Company’s segments. | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income | $ | 205,994 | $ | 211,964 | $ | 15,075 | $ | 1,049 | $ | 64,692 | $ | 498,774 | ||||||||||||
Allocated provision for loan losses | 18,638 | 26,493 | (1,351 | ) | — | 1,472 | 45,252 | |||||||||||||||||
Noninterest income | 167,013 | 60,394 | 41,325 | 25,755 | (59,042 | ) | 235,445 | |||||||||||||||||
Noninterest expense | 319,388 | 119,173 | 37,708 | 3,397 | 65,596 | 545,262 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 34,981 | 126,692 | 20,043 | 23,407 | (61,418 | ) | 143,705 | |||||||||||||||||
Income tax expense (benefit) | 13,031 | 47,192 | 7,466 | 8,719 | (40,278 | ) | 36,130 | |||||||||||||||||
Net income (loss) | 21,950 | 79,500 | 12,577 | 14,688 | (21,140 | ) | 107,575 | |||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 65 | — | 439 | — | 504 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 21,950 | $ | 79,435 | $ | 12,577 | $ | 14,249 | $ | (21,140 | ) | $ | 107,071 | |||||||||||
Average assets | $ | 21,485,600 | $ | 29,738,664 | $ | 4,569,657 | $ | 12,738,181 | $ | 7,472,839 | $ | 76,004,941 | ||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income (expense) | $ | 201,028 | $ | 187,351 | $ | 13,532 | $ | (13,513 | ) | $ | 121,917 | $ | 510,315 | |||||||||||
Allocated provision for loan losses | 22,555 | 4,489 | 1,477 | 38 | (4,322 | ) | 24,237 | |||||||||||||||||
Noninterest income | 165,737 | 62,632 | 32,096 | 47,105 | (58,557 | ) | 249,013 | |||||||||||||||||
Noninterest expense | 326,703 | 109,898 | 30,583 | 3,799 | 83,717 | 554,700 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 17,507 | 135,596 | 13,568 | 29,755 | (16,035 | ) | 180,391 | |||||||||||||||||
Income tax expense (benefit) | 6,510 | 50,519 | 5,054 | 11,798 | (22,285 | ) | 51,596 | |||||||||||||||||
Net income (loss) | 10,997 | 85,077 | 8,514 | 17,957 | 6,250 | 128,795 | ||||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 122 | — | 446 | — | 568 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 10,997 | $ | 84,955 | $ | 8,514 | $ | 17,511 | $ | 6,250 | $ | 128,227 | ||||||||||||
Average assets | $ | 19,995,978 | $ | 25,095,054 | $ | 3,104,494 | $ | 13,869,698 | $ | 7,879,334 | $ | 69,944,558 | ||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income | $ | 409,983 | $ | 409,951 | $ | 27,896 | $ | 3,360 | $ | 142,883 | $ | 994,073 | ||||||||||||
Allocated provision for loan losses | 46,865 | 33,075 | (2,045 | ) | — | 4,623 | 82,518 | |||||||||||||||||
Noninterest income | 324,151 | 126,298 | 84,054 | 47,770 | (127,500 | ) | 454,773 | |||||||||||||||||
Noninterest expense | 637,662 | 238,145 | 66,778 | 7,037 | 114,507 | 1,064,129 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 49,607 | 265,029 | 47,217 | 44,093 | (103,747 | ) | 302,199 | |||||||||||||||||
Income tax expense (benefit) | 18,478 | 98,723 | 17,588 | 16,425 | (71,517 | ) | 79,697 | |||||||||||||||||
Net income (loss) | 31,129 | 166,306 | 29,629 | 27,668 | (32,230 | ) | 222,502 | |||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 82 | — | 875 | — | 957 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 31,129 | $ | 166,224 | $ | 29,629 | $ | 26,793 | $ | (32,230 | ) | $ | 221,545 | |||||||||||
Average assets | $ | 21,279,485 | $ | 29,222,559 | $ | 4,200,964 | $ | 12,537,345 | $ | 7,448,998 | $ | 74,689,351 | ||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income (expense) | $ | 400,361 | $ | 367,934 | $ | 26,302 | $ | (28,716 | ) | $ | 267,380 | $ | 1,033,261 | |||||||||||
Allocated provision for loan losses | 51,334 | (13,732 | ) | 2,224 | 38 | 3,988 | 43,852 | |||||||||||||||||
Noninterest income | 319,822 | 111,285 | 58,333 | 66,922 | (101,972 | ) | 454,390 | |||||||||||||||||
Noninterest expense | 637,745 | 217,422 | 57,992 | 6,971 | 180,235 | 1,100,365 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 31,104 | 275,529 | 24,419 | 31,197 | (18,815 | ) | 343,434 | |||||||||||||||||
Income tax expense (benefit) | 11,567 | 102,649 | 9,096 | 13,042 | (32,251 | ) | 104,103 | |||||||||||||||||
Net income (loss) | 19,537 | 172,880 | 15,323 | 18,155 | 13,436 | 239,331 | ||||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 75 | — | 886 | — | 961 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 19,537 | $ | 172,805 | $ | 15,323 | $ | 17,269 | $ | 13,436 | $ | 238,370 | ||||||||||||
Average assets | $ | 19,879,500 | $ | 24,709,118 | $ | 3,015,608 | $ | 14,413,166 | $ | 7,882,747 | $ | 69,900,139 | ||||||||||||
The financial information presented was derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. This information is based on internal management accounting policies that have been developed to reflect the underlying economics of the businesses. These policies address the methodologies applied and include policies related to funds transfer pricing, cost allocations and capital allocations. | ||||||||||||||||||||||||
Funds transfer pricing was used in the determination of net interest income earned primarily on loans and deposits. The method employed for funds transfer pricing is a matched funding concept whereby lines of business which are fund providers are credited and those that are fund users are charged based on maturity, prepayment and/or repricing characteristics applied on an instrument level. Costs for centrally managed operations are generally allocated to the lines of business based on the utilization of services provided or other appropriate indicators. Capital is allocated to the lines of business based upon the underlying risks in each business considering economic and regulatory capital standards. | ||||||||||||||||||||||||
The development and application of these methodologies is a dynamic process. In addition, unlike financial accounting, there is no authoritative literature for management accounting similar to U.S. GAAP. Consequently, reported results are not necessarily comparable to those presented by other financial institutions. |
Related_Party_Transactions
Related Party Transactions | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Related Party Transactions | ' | |||||||
Related Party Transactions | ||||||||
The Company enters into various contracts with BBVA that affect the Company’s business and operations. The following discloses the significant transactions between the Company and BBVA during 2014 and 2013. | ||||||||
The Company believes all of the transactions entered into between the Company and BBVA were transacted on terms that were no more or less beneficial to the Company than similar transactions entered into with unrelated market participants, including interest rates and transaction costs. The Company foresees executing similar transactions with BBVA in the future. | ||||||||
Derivatives | ||||||||
The Company has entered into various derivative contracts as noted below with BBVA as the upstream counterparty. The net fair value of outstanding derivative contracts between the Company and BBVA are detailed below. | ||||||||
June 30, 2014 | December 31, 2013 | |||||||
(In Thousands) | ||||||||
Derivative contracts | ||||||||
Cash flow hedges | $ | 2,848 | $ | 3,652 | ||||
Free-standing derivative instruments – risk management and other purposes | 18,477 | 21,650 | ||||||
Free-standing derivative instruments – customer accommodation | (24,431 | ) | (842 | ) |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Use of estimates | ' |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period, the most significant of which relate to the allowance for loan losses, goodwill impairment, fair value measurements and income taxes. Actual results could differ from those estimates. | |
Recently issued accounting standards | ' |
Recently Issued Accounting Standards | |
Obligations Resulting from Joint and Several Liability Arrangements with Fixed Obligations | |
In February 2013, the FASB released ASU 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force), which provides guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. Examples of obligations within the scope of this ASU include debt arrangements, other contractual obligations, and settled litigation and judicial rulings. The guidance in this ASU requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date as the sum of (a) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (b) any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this ASU also requires an entity to disclose the nature and amount of the obligations as well as other information about those obligations. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, with retrospective application and was adopted by the Company on January 1, 2014. The adoption of this standard did not have a material impact on the financial condition or results of operations of the Company. | |
Presentation of Unrecognized Tax Benefits | |
In July 2013, the FASB released ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The ASU requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. However, if a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013 and was adopted by the Company on January 1, 2014. The adoption of this standard did not have a material impact on the financial condition or results of operations of the Company. | |
Accounting for Investments in Qualified Affordable Housing Projects | |
In January 2014, the FASB released ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects. The ASU provides guidance on accounting for investments by a reporting entity in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low income housing tax credit. The amendments in this ASU permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense. The amendments in this ASU should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Early adoption is permitted and the Company elected to early adopt the amendments in this ASU on January 1, 2014. The adoption of this standard did not have a material impact on the financial condition or results of operations of the Company. | |
Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure | |
In January 2014, the FASB released ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, 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 to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this ASU using either a modified retrospective transition method or a prospective transition method. The adoption of this standard is not expected to have a material impact on the financial condition or results of operations of the Company. | |
Revenue from Contracts with Customers | |
In May 2014, the FASB released ASU 2014-09, Revenue from Contracts with Customers. The core principle of this guidance requires an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides five steps to be analyzed to accomplish the core principle. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016. Early application is not permitted. The Company is currently assessing the impact that the adoption of this standard will have on the financial condition and results of operations of the Company. | |
Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures | |
In June 2014, the FASB issued ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this ASU change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. In addition, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments in this ASU also require disclosures on transfers accounted for as sales in transactions that are economically similar to repurchase agreements, and provide increased transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The accounting changes in this ASU and disclosures for certain transactions accounted for as a sale are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014 and for interim periods beginning after March 15, 2015. The adoption of this standard is not expected to have a material impact on the financial condition or results of operations of the Company. | |
Derivatives | ' |
The Company has made an accounting policy decision to not offset derivative fair value amounts under master netting agreements. |
Investment_Securities_Availabl1
Investment Securities Available for Sale and Investment Securities Held to Maturity (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Schedule of adjusted cost and approximate fair value of investment securities available for sale and investments held to maturity | ' | |||||||||||||||||||||||
The following table presents the adjusted cost and approximate fair value of investment securities available for sale and investment securities held to maturity. | ||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Gross Unrealized | ||||||||||||||||||||||||
Amortized Cost | Gains | Losses | Fair Value | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 570,472 | $ | 4,332 | $ | 3,772 | $ | 571,032 | ||||||||||||||||
Mortgage-backed securities | 4,983,938 | 72,018 | 48,475 | 5,007,481 | ||||||||||||||||||||
Collateralized mortgage obligations | 2,337,928 | 23,891 | 4,194 | 2,357,625 | ||||||||||||||||||||
States and political subdivisions | 494,507 | 8,957 | 5,474 | 497,990 | ||||||||||||||||||||
Other | 36,939 | 179 | 24 | 37,094 | ||||||||||||||||||||
Equity securities | 500,954 | 61 | — | 501,015 | ||||||||||||||||||||
Total | $ | 8,924,738 | $ | 109,438 | $ | 61,939 | $ | 8,972,237 | ||||||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 136,166 | $ | 6,998 | $ | 5,191 | $ | 137,973 | ||||||||||||||||
Asset-backed securities | 54,816 | 4,110 | 3,682 | 55,244 | ||||||||||||||||||||
States and political subdivisions | 1,180,162 | 1,635 | 100,040 | 1,081,757 | ||||||||||||||||||||
Other | 77,048 | 6,891 | 2,114 | 81,825 | ||||||||||||||||||||
Total | $ | 1,448,192 | $ | 19,634 | $ | 111,027 | $ | 1,356,799 | ||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Gross Unrealized | ||||||||||||||||||||||||
Amortized Cost | Gains | Losses | Fair Value | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 257,844 | $ | 4,338 | $ | 1,245 | $ | 260,937 | ||||||||||||||||
Mortgage-backed securities | 5,232,504 | 75,912 | 74,625 | 5,233,791 | ||||||||||||||||||||
Collateralized mortgage obligations | 1,747,450 | 23,312 | 14,364 | 1,756,398 | ||||||||||||||||||||
States and political subdivisions | 518,755 | 8,041 | 17,360 | 509,436 | ||||||||||||||||||||
Other | 40,415 | 27 | 109 | 40,333 | ||||||||||||||||||||
Equity securities | 512,136 | 54 | — | 512,190 | ||||||||||||||||||||
Total | $ | 8,309,104 | $ | 111,684 | $ | 107,703 | $ | 8,313,085 | ||||||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 145,989 | $ | 19,848 | $ | 3,900 | $ | 161,937 | ||||||||||||||||
Asset-backed securities | 67,590 | 4,008 | 6,183 | 65,415 | ||||||||||||||||||||
States and political subdivisions | 1,225,977 | 843 | 139,816 | 1,087,004 | ||||||||||||||||||||
Other | 79,640 | 13,191 | 1,929 | 90,902 | ||||||||||||||||||||
Total | $ | 1,519,196 | $ | 37,890 | $ | 151,828 | $ | 1,405,258 | ||||||||||||||||
Schedule of fair value and gross unrealized losses of available for sale and held to maturity securities that were in a loss position | ' | |||||||||||||||||||||||
The following table discloses the fair value and the gross unrealized losses of the Company’s available for sale securities and held to maturity securities that were in a loss position at June 30, 2014 and December 31, 2013. This information is aggregated by investment category and the length of time the individual securities have been in an unrealized loss position. | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Securities in a loss position for less than 12 months | Securities in a loss position for 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 337,358 | $ | 3,772 | $ | — | $ | — | $ | 337,358 | $ | 3,772 | ||||||||||||
Mortgage-backed securities | 107,404 | 1,027 | 2,236,173 | 47,448 | 2,343,577 | 48,475 | ||||||||||||||||||
Collateralized mortgage obligations | 331,462 | 947 | 174,054 | 3,247 | 505,516 | 4,194 | ||||||||||||||||||
States and political subdivisions | 24,910 | 141 | 198,092 | 5,333 | 223,002 | 5,474 | ||||||||||||||||||
Other | — | — | 1,098 | 24 | 1,098 | 24 | ||||||||||||||||||
Total | $ | 801,134 | $ | 5,887 | $ | 2,609,417 | $ | 56,052 | $ | 3,410,551 | $ | 61,939 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 28,987 | $ | 695 | $ | 29,456 | $ | 4,496 | $ | 58,443 | $ | 5,191 | ||||||||||||
Asset-backed securities | — | — | 26,549 | 3,682 | 26,549 | 3,682 | ||||||||||||||||||
States and political subdivisions | 2,326 | 92 | 883,818 | 99,948 | 886,144 | 100,040 | ||||||||||||||||||
Other | — | — | 4,071 | 2,114 | 4,071 | 2,114 | ||||||||||||||||||
Total | $ | 31,313 | $ | 787 | $ | 943,894 | $ | 110,240 | $ | 975,207 | $ | 111,027 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Securities in a loss position for less than 12 months | Securities in a loss position for 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 119,871 | $ | 1,245 | $ | — | $ | — | $ | 119,871 | $ | 1,245 | ||||||||||||
Mortgage-backed securities | 2,462,822 | 69,919 | 339,448 | 4,706 | 2,802,270 | 74,625 | ||||||||||||||||||
Collateralized mortgage obligations | 699,693 | 9,123 | 108,710 | 5,241 | 808,403 | 14,364 | ||||||||||||||||||
States and political subdivisions | 164,472 | 9,244 | 92,407 | 8,116 | 256,879 | 17,360 | ||||||||||||||||||
Other | 4,939 | 109 | — | — | 4,939 | 109 | ||||||||||||||||||
Total | $ | 3,451,797 | $ | 89,640 | $ | 540,565 | $ | 18,063 | $ | 3,992,362 | $ | 107,703 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 1,466 | $ | 17 | $ | 32,370 | $ | 3,883 | $ | 33,836 | $ | 3,900 | ||||||||||||
Asset-backed securities | — | — | 33,362 | 6,183 | 33,362 | 6,183 | ||||||||||||||||||
States and political subdivisions | 313,438 | 26,760 | 642,799 | 113,056 | 956,237 | 139,816 | ||||||||||||||||||
Other | — | — | 4,600 | 1,929 | 4,600 | 1,929 | ||||||||||||||||||
Total | $ | 314,904 | $ | 26,777 | $ | 713,131 | $ | 125,051 | $ | 1,028,035 | $ | 151,828 | ||||||||||||
Schedule of activity related to credit losses for debt securities where other than temporary impairments was recognized in other comprehensive income | ' | |||||||||||||||||||||||
The following table discloses activity related to credit losses for debt securities where a portion of the OTTI was recognized in other comprehensive income. | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance at beginning of period | $ | 21,089 | $ | 17,318 | $ | 20,943 | $ | 17,318 | ||||||||||||||||
Reductions for securities paid off during the period (realized) | — | (239 | ) | — | (239 | ) | ||||||||||||||||||
Additions for the credit component on debt securities in which OTTI was not previously recognized | — | — | — | — | ||||||||||||||||||||
Additions for the credit component on debt securities in which OTTI was previously recognized | 34 | 462 | 180 | 462 | ||||||||||||||||||||
Balance at end of period | $ | 21,123 | $ | 17,541 | $ | 21,123 | $ | 17,541 | ||||||||||||||||
Schedule of investments classified by contractual maturity date | ' | |||||||||||||||||||||||
The maturities of the securities portfolios are presented in the following table. | ||||||||||||||||||||||||
June 30, 2014 | Amortized Cost | Fair Value | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
Maturing within one year | $ | 51,171 | $ | 52,280 | ||||||||||||||||||||
Maturing after one but within five years | 103,113 | 107,335 | ||||||||||||||||||||||
Maturing after five but within ten years | 176,007 | 179,619 | ||||||||||||||||||||||
Maturing after ten years | 771,627 | 766,882 | ||||||||||||||||||||||
1,101,918 | 1,106,116 | |||||||||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations | 7,321,866 | 7,365,106 | ||||||||||||||||||||||
Equity securities | 500,954 | 501,015 | ||||||||||||||||||||||
Total | $ | 8,924,738 | $ | 8,972,237 | ||||||||||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Maturing within one year | $ | 30,013 | $ | 29,674 | ||||||||||||||||||||
Maturing after one but within five years | 290,161 | 274,065 | ||||||||||||||||||||||
Maturing after five but within ten years | 234,765 | 224,153 | ||||||||||||||||||||||
Maturing after ten years | 757,087 | 690,934 | ||||||||||||||||||||||
1,312,026 | 1,218,826 | |||||||||||||||||||||||
Collateralized mortgage obligations | 136,166 | 137,973 | ||||||||||||||||||||||
Total | $ | 1,448,192 | $ | 1,356,799 | ||||||||||||||||||||
Schedule of realized gain (loss) on investments | ' | |||||||||||||||||||||||
The gross realized gains and losses recognized on sales of investment securities available for sale are shown in the table below. | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Gross gains | $ | 21,464 | $ | 18,075 | $ | 37,898 | $ | 33,030 | ||||||||||||||||
Gross losses | — | — | — | — | ||||||||||||||||||||
Net realized gains | $ | 21,464 | $ | 18,075 | $ | 37,898 | $ | 33,030 | ||||||||||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of composition of loan portfolio | ' | |||||||||||||||||||||||||||||||
The following table presents the composition of the loan portfolio. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 22,365,829 | $ | 20,209,209 | ||||||||||||||||||||||||||||
Real estate – construction | 1,792,180 | 1,736,348 | ||||||||||||||||||||||||||||||
Commercial real estate – mortgage | 9,461,092 | 9,106,329 | ||||||||||||||||||||||||||||||
Total commercial loans | 33,619,101 | 31,051,886 | ||||||||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||||||
Residential real estate – mortgage | 13,356,040 | 12,706,879 | ||||||||||||||||||||||||||||||
Equity lines of credit | 2,238,451 | 2,236,367 | ||||||||||||||||||||||||||||||
Equity loans | 609,794 | 644,068 | ||||||||||||||||||||||||||||||
Credit card | 636,904 | 660,073 | ||||||||||||||||||||||||||||||
Consumer – direct | 563,949 | 516,572 | ||||||||||||||||||||||||||||||
Consumer – indirect | 2,448,402 | 2,116,981 | ||||||||||||||||||||||||||||||
Total consumer loans | 19,853,540 | 18,880,940 | ||||||||||||||||||||||||||||||
Covered loans | 613,152 | 734,190 | ||||||||||||||||||||||||||||||
Total loans | $ | 54,085,793 | $ | 50,667,016 | ||||||||||||||||||||||||||||
Schedule of purchased impaired loans | ' | |||||||||||||||||||||||||||||||
The following table presents the unpaid principal balance, discount, allowance for loan losses and carrying value of the Purchased Impaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Unpaid principal balance | $ | 414,652 | $ | 449,429 | ||||||||||||||||||||||||||||
Discount | (33,216 | ) | (60,069 | ) | ||||||||||||||||||||||||||||
Allowance for loan losses | (8,161 | ) | (243 | ) | ||||||||||||||||||||||||||||
Carrying value | $ | 373,275 | $ | 389,117 | ||||||||||||||||||||||||||||
Schedule of accretable yield on purchased impaired loans | ' | |||||||||||||||||||||||||||||||
An analysis of the accretable yield related to the Purchased Impaired Loans follows. | ||||||||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 105,698 | $ | 136,992 | ||||||||||||||||||||||||||||
Transfer from nonaccretable difference | 6,633 | 25,362 | ||||||||||||||||||||||||||||||
Accretion | (29,405 | ) | (34,547 | ) | ||||||||||||||||||||||||||||
Other | — | 2,370 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 82,926 | $ | 130,177 | ||||||||||||||||||||||||||||
Schedule of purchased nonimpaired loans | ' | |||||||||||||||||||||||||||||||
The following table presents the unpaid principal balance, discount, allowance for loan losses, and carrying value of the Purchased Nonimpaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Unpaid principal balance | $ | 368,036 | $ | 520,723 | ||||||||||||||||||||||||||||
Discount | (136,320 | ) | (175,893 | ) | ||||||||||||||||||||||||||||
Allowance for loan losses | (3,390 | ) | (2,711 | ) | ||||||||||||||||||||||||||||
Carrying value | $ | 228,326 | $ | 342,119 | ||||||||||||||||||||||||||||
Schedule of recorded investment in covered Purchased Impaired Loans and Purchased Nonimpaired Loans | ' | |||||||||||||||||||||||||||||||
The following table reflects the recorded investment in all covered Purchased Impaired Loans and Purchased Nonimpaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
Purchased Impaired Loans | Purchased Nonimpaired Loans | Total Covered Loans | Purchased Impaired Loans | Purchased Nonimpaired Loans | Total Covered Loans | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | — | $ | 45,712 | $ | 45,712 | $ | — | $ | 40,892 | $ | 40,892 | ||||||||||||||||||||
Commercial real estate (1) | 3,358 | 34,831 | 38,189 | 4,760 | 141,333 | 146,093 | ||||||||||||||||||||||||||
Residential real estate – mortgage (2) | 378,078 | 144,591 | 522,669 | 384,588 | 155,452 | 540,040 | ||||||||||||||||||||||||||
Consumer loans | — | 6,582 | 6,582 | 12 | 7,153 | 7,165 | ||||||||||||||||||||||||||
Total loans | $ | 381,436 | $ | 231,716 | $ | 613,152 | $ | 389,360 | $ | 344,830 | $ | 734,190 | ||||||||||||||||||||
-1 | Includes real estate – construction and commercial real estate - mortgage. | |||||||||||||||||||||||||||||||
-2 | Includes residential real estate – mortgage, equity lines of credit and equity loans. | |||||||||||||||||||||||||||||||
Schedule of FDIC indemnification assets | ' | |||||||||||||||||||||||||||||||
A summary of the activity in the FDIC indemnification asset (liability) is presented in the following table. | ||||||||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 24,315 | $ | 271,928 | ||||||||||||||||||||||||||||
Increase (decrease) due to credit loss provision (benefit) recorded on FDIC covered loans | 8,726 | (6,616 | ) | |||||||||||||||||||||||||||||
Amortization | (67,212 | ) | (149,033 | ) | ||||||||||||||||||||||||||||
Payments to FDIC for covered losses | 6,611 | 17,840 | ||||||||||||||||||||||||||||||
Other | (3,502 | ) | (993 | ) | ||||||||||||||||||||||||||||
Balance at end of period | $ | (31,062 | ) | $ | 133,126 | |||||||||||||||||||||||||||
Disclosure of activity in allowance for loan losses during year | ' | |||||||||||||||||||||||||||||||
The following table, which excludes loans held for sale, presents a summary of the activity in the allowance for loan losses. The portion of the allowance that has not been identified by the Company as related to specific loan categories has been allocated to the individual loan categories on a pro rata basis for purposes of the table below: | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Commercial Real Estate (1) | Residential Real Estate (2) | Consumer (3) | Covered | Total Loans | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 299,879 | $ | 153,130 | $ | 155,234 | $ | 91,357 | $ | 8,065 | $ | 707,665 | ||||||||||||||||||||
Provision charged to income | 29,495 | (5,057 | ) | 8,039 | 12,969 | (194 | ) | 45,252 | ||||||||||||||||||||||||
Loans charged off | (15,517 | ) | (7,305 | ) | (13,861 | ) | (20,669 | ) | (791 | ) | (58,143 | ) | ||||||||||||||||||||
Loan recoveries | 3,933 | 2,173 | 4,282 | 5,127 | 4,471 | 19,986 | ||||||||||||||||||||||||||
Net charge offs | (11,584 | ) | (5,132 | ) | (9,579 | ) | (15,542 | ) | 3,680 | (38,157 | ) | |||||||||||||||||||||
Ending balance | $ | 317,790 | $ | 142,941 | $ | 153,694 | $ | 88,784 | $ | 11,551 | $ | 714,760 | ||||||||||||||||||||
Three months ended June 30, 2013 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 304,841 | $ | 227,370 | $ | 164,402 | $ | 77,331 | $ | 12,074 | $ | 786,018 | ||||||||||||||||||||
Provision charged to income | (2,431 | ) | (30,585 | ) | 40,883 | 18,807 | (2,437 | ) | 24,237 | |||||||||||||||||||||||
Loans charged off | (16,889 | ) | (21,125 | ) | (49,313 | ) | (16,849 | ) | (2,156 | ) | (106,332 | ) | ||||||||||||||||||||
Loan recoveries | 4,667 | 6,953 | 2,821 | 4,413 | 734 | 19,588 | ||||||||||||||||||||||||||
Net charge offs | (12,222 | ) | (14,172 | ) | (46,492 | ) | (12,436 | ) | (1,422 | ) | (86,744 | ) | ||||||||||||||||||||
Ending balance | $ | 290,188 | $ | 182,613 | $ | 158,793 | $ | 83,702 | $ | 8,215 | $ | 723,511 | ||||||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 292,327 | $ | 158,960 | $ | 155,575 | $ | 90,903 | $ | 2,954 | $ | 700,719 | ||||||||||||||||||||
Provision charged to income | 36,996 | (9,779 | ) | 20,712 | 29,798 | 4,791 | 82,518 | |||||||||||||||||||||||||
Loans charged off | (20,451 | ) | (9,951 | ) | (29,569 | ) | (42,373 | ) | (1,007 | ) | (103,351 | ) | ||||||||||||||||||||
Loan recoveries | 8,918 | 3,711 | 6,976 | 10,456 | 4,813 | 34,874 | ||||||||||||||||||||||||||
Net charge offs | (11,533 | ) | (6,240 | ) | (22,593 | ) | (31,917 | ) | 3,806 | (68,477 | ) | |||||||||||||||||||||
Ending balance | $ | 317,790 | $ | 142,941 | $ | 153,694 | $ | 88,784 | $ | 11,551 | $ | 714,760 | ||||||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 283,058 | $ | 254,324 | $ | 172,265 | $ | 75,403 | $ | 17,803 | $ | 802,853 | ||||||||||||||||||||
Provision charged to income | 20,477 | (56,414 | ) | 53,847 | 33,629 | (7,687 | ) | 43,852 | ||||||||||||||||||||||||
Loans charged off | (23,211 | ) | (27,743 | ) | (72,293 | ) | (35,070 | ) | (3,425 | ) | (161,742 | ) | ||||||||||||||||||||
Loan recoveries | 9,864 | 12,446 | 4,974 | 9,740 | 1,524 | 38,548 | ||||||||||||||||||||||||||
Net charge offs | (13,347 | ) | (15,297 | ) | (67,319 | ) | (25,330 | ) | (1,901 | ) | (123,194 | ) | ||||||||||||||||||||
Ending balance | $ | 290,188 | $ | 182,613 | $ | 158,793 | $ | 83,702 | $ | 8,215 | $ | 723,511 | ||||||||||||||||||||
-1 | Includes commercial real estate – mortgage and real estate – construction loans. | |||||||||||||||||||||||||||||||
-2 | Includes residential real estate – mortgage, equity lines of credit and equity loans. | |||||||||||||||||||||||||||||||
-3 | Includes credit card, consumer – direct and consumer – indirect loans. | |||||||||||||||||||||||||||||||
The table below provides a summary of the allowance for loan losses and related loan balances by portfolio. | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Commercial Real Estate (1) | Residential Real Estate (2) | Consumer (3) | Covered | Total Loans | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Ending balance of allowance attributable to loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 19,106 | $ | 6,617 | $ | 39,693 | $ | 1,188 | $ | — | $ | 66,604 | ||||||||||||||||||||
Collectively evaluated for impairment | 298,684 | 136,324 | 114,001 | 87,596 | — | 636,605 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 8,161 | 8,161 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 3,390 | 3,390 | ||||||||||||||||||||||||||
Total allowance for loan losses | $ | 317,790 | $ | 142,941 | $ | 153,694 | $ | 88,784 | $ | 11,551 | $ | 714,760 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance of loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 67,159 | $ | 119,667 | $ | 190,224 | $ | 1,472 | $ | — | $ | 378,522 | ||||||||||||||||||||
Collectively evaluated for impairment | 22,298,670 | 11,133,605 | 16,014,061 | 3,647,783 | — | 53,094,119 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 381,436 | 381,436 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 231,716 | 231,716 | ||||||||||||||||||||||||||
Total loans | $ | 22,365,829 | $ | 11,253,272 | $ | 16,204,285 | $ | 3,649,255 | $ | 613,152 | $ | 54,085,793 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Ending balance of allowance attributable to loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 28,828 | $ | 9,408 | $ | 41,989 | $ | 1,526 | $ | — | $ | 81,751 | ||||||||||||||||||||
Collectively evaluated for impairment | 263,499 | 149,552 | 113,586 | 89,377 | — | 616,014 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 243 | 243 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 2,711 | 2,711 | ||||||||||||||||||||||||||
Total allowance for loan losses | $ | 292,327 | $ | 158,960 | $ | 155,575 | $ | 90,903 | $ | 2,954 | $ | 700,719 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance of loans: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 138,047 | $ | 167,598 | $ | 196,723 | $ | 1,625 | $ | — | $ | 503,993 | ||||||||||||||||||||
Collectively evaluated for impairment | 20,071,162 | 10,675,079 | 15,390,591 | 3,292,001 | — | 49,428,833 | ||||||||||||||||||||||||||
Covered purchased impaired | — | — | — | — | 389,360 | 389,360 | ||||||||||||||||||||||||||
Covered purchased nonimpaired | — | — | — | — | 344,830 | 344,830 | ||||||||||||||||||||||||||
Total loans | $ | 20,209,209 | $ | 10,842,677 | $ | 15,587,314 | $ | 3,293,626 | $ | 734,190 | $ | 50,667,016 | ||||||||||||||||||||
-1 | Includes commercial real estate – mortgage and real estate – construction loans. | |||||||||||||||||||||||||||||||
-2 | Includes residential real estate – mortgage, equity lines of credit and equity loans. | |||||||||||||||||||||||||||||||
-3 | Includes credit card, consumer – direct and consumer – indirect loans. | |||||||||||||||||||||||||||||||
Schedule of impaired financing receivables | ' | |||||||||||||||||||||||||||||||
The following table presents information on individually analyzed impaired loans, by loan class. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Individually Analyzed Impaired Loans With No Recorded Allowance | Individually Analyzed Impaired Loans With a Recorded Allowance | |||||||||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Allowance | Recorded Investment | Unpaid Principal Balance | Allowance | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | — | $ | — | $ | — | $ | 67,159 | $ | 87,507 | $ | 19,106 | ||||||||||||||||||||
Real estate – construction | 5,785 | 6,582 | — | 3,606 | 4,148 | 602 | ||||||||||||||||||||||||||
Commercial real estate – mortgage | 24,402 | 25,475 | — | 85,874 | 91,822 | 6,015 | ||||||||||||||||||||||||||
Residential real estate – mortgage | 10,263 | 10,263 | — | 100,764 | 100,951 | 6,275 | ||||||||||||||||||||||||||
Equity lines of credit | — | — | — | 23,908 | 24,100 | 23,152 | ||||||||||||||||||||||||||
Equity loans | — | — | — | 55,289 | 55,517 | 10,266 | ||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | ||||||||||||||||||||||||||
Consumer – direct | — | — | — | 134 | 134 | 69 | ||||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,338 | 1,338 | 1,119 | ||||||||||||||||||||||||||
Total loans | $ | 40,450 | $ | 42,320 | $ | — | $ | 338,072 | $ | 365,517 | $ | 66,604 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Individually Analyzed Impaired Loans With No Recorded Allowance | Individually Analyzed Impaired Loans With a Recorded Allowance | |||||||||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Allowance | Recorded Investment | Unpaid Principal Balance | Allowance | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 19,984 | $ | 27,639 | $ | — | $ | 118,063 | $ | 138,092 | $ | 28,828 | ||||||||||||||||||||
Real estate – construction | 1,314 | 1,555 | — | 9,248 | 10,812 | 836 | ||||||||||||||||||||||||||
Commercial real estate – mortgage | 51,303 | 54,821 | — | 105,733 | 112,177 | 8,572 | ||||||||||||||||||||||||||
Residential real estate – mortgage | 1,906 | 1,906 | — | 115,550 | 115,734 | 7,378 | ||||||||||||||||||||||||||
Equity lines of credit | — | — | — | 23,593 | 24,021 | 23,190 | ||||||||||||||||||||||||||
Equity loans | — | — | — | 55,674 | 55,794 | 11,421 | ||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | ||||||||||||||||||||||||||
Consumer – direct | — | — | — | 182 | 181 | 83 | ||||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,443 | 1,443 | 1,443 | ||||||||||||||||||||||||||
Total loans | $ | 74,507 | $ | 85,921 | $ | — | $ | 429,486 | $ | 458,254 | $ | 81,751 | ||||||||||||||||||||
The following table presents information on individually analyzed impaired loans, by loan class. | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 88,271 | $ | 543 | $ | 122,441 | $ | 365 | ||||||||||||||||||||||||
Real estate – construction | 9,088 | 56 | 60,890 | 152 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 117,404 | 835 | 235,445 | 1,205 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 112,862 | 725 | 147,453 | 855 | ||||||||||||||||||||||||||||
Equity lines of credit | 23,511 | 255 | 7,746 | 81 | ||||||||||||||||||||||||||||
Equity loans | 55,399 | 429 | 45,324 | 438 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | 140 | 1 | 163 | 3 | ||||||||||||||||||||||||||||
Consumer – indirect | 1,309 | 1 | 668 | 11 | ||||||||||||||||||||||||||||
Total loans | $ | 407,984 | $ | 2,845 | $ | 620,130 | $ | 3,110 | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 107,546 | $ | 788 | $ | 117,045 | $ | 721 | ||||||||||||||||||||||||
Real estate – construction | 9,604 | 119 | 85,871 | 543 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 129,376 | 1,777 | 235,279 | 2,259 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 113,913 | 1,444 | 158,930 | 1,937 | ||||||||||||||||||||||||||||
Equity lines of credit | 23,457 | 505 | 3,873 | 81 | ||||||||||||||||||||||||||||
Equity loans | 55,213 | 854 | 34,989 | 691 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | 149 | 2 | 147 | 28 | ||||||||||||||||||||||||||||
Consumer – indirect | 1,287 | 2 | 334 | 11 | ||||||||||||||||||||||||||||
Total loans | $ | 440,545 | $ | 5,491 | $ | 636,468 | $ | 6,271 | ||||||||||||||||||||||||
Schedule of credit quality indicators associated with the Company's loans | ' | |||||||||||||||||||||||||||||||
The following tables, which exclude loans held for sale and covered loans, illustrate the credit quality indicators associated with the Company’s loans, by loan class. | ||||||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Real Estate - Construction | Commercial Real Estate - Mortgage | ||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Pass | $ | 21,837,384 | $ | 1,769,475 | $ | 9,033,078 | ||||||||||||||||||||||||||
Special Mention | 246,367 | 12,153 | 225,927 | |||||||||||||||||||||||||||||
Substandard | 249,058 | 9,342 | 176,936 | |||||||||||||||||||||||||||||
Doubtful | 33,020 | 1,210 | 25,151 | |||||||||||||||||||||||||||||
$ | 22,365,829 | $ | 1,792,180 | $ | 9,461,092 | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Commercial, Financial and Agricultural | Real Estate - Construction | Commercial Real Estate - Mortgage | ||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Pass | $ | 19,582,014 | $ | 1,707,719 | $ | 8,562,261 | ||||||||||||||||||||||||||
Special Mention | 353,638 | 9,918 | 271,500 | |||||||||||||||||||||||||||||
Substandard | 261,995 | 17,112 | 243,042 | |||||||||||||||||||||||||||||
Doubtful | 11,562 | 1,599 | 29,526 | |||||||||||||||||||||||||||||
$ | 20,209,209 | $ | 1,736,348 | $ | 9,106,329 | |||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||||||||||
Residential Real Estate – Mortgage | Equity Lines of Credit | Equity Loans | Credit Card | Consumer - Direct | Consumer –Indirect | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Performing | $ | 13,243,361 | $ | 2,200,855 | $ | 589,225 | $ | 628,167 | $ | 561,473 | $ | 2,445,560 | ||||||||||||||||||||
Nonperforming | 112,679 | 37,596 | 20,569 | 8,737 | 2,476 | 2,842 | ||||||||||||||||||||||||||
$ | 13,356,040 | $ | 2,238,451 | $ | 609,794 | $ | 636,904 | $ | 563,949 | $ | 2,448,402 | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Residential Real Estate -Mortgage | Equity Lines of Credit | Equity Loans | Credit Card | Consumer -Direct | Consumer –Indirect | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Noncovered loans: | ||||||||||||||||||||||||||||||||
Performing | $ | 12,601,515 | $ | 2,199,827 | $ | 621,897 | $ | 649,796 | $ | 513,630 | $ | 2,113,918 | ||||||||||||||||||||
Nonperforming | 105,364 | 36,540 | 22,171 | 10,277 | 2,942 | 3,063 | ||||||||||||||||||||||||||
$ | 12,706,879 | $ | 2,236,367 | $ | 644,068 | $ | 660,073 | $ | 516,572 | $ | 2,116,981 | |||||||||||||||||||||
Schedule of past due loans | ' | |||||||||||||||||||||||||||||||
The following tables present an aging analysis of the Company’s past due loans, excluding loans classified as held for sale and Purchased Impaired Loans. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Accruing TDRs | Total Past Due and Impaired | Not Past Due or Impaired | Total | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 8,399 | $ | 3,520 | $ | 2,311 | $ | 72,606 | $ | 10,491 | $ | 97,327 | $ | 22,268,502 | $ | 22,365,829 | ||||||||||||||||
Real estate – construction | 923 | 418 | 1,138 | 9,401 | 2,244 | 14,124 | 1,778,056 | 1,792,180 | ||||||||||||||||||||||||
Commercial real estate – mortgage | 5,675 | 3,358 | 221 | 88,554 | 45,836 | 143,644 | 9,317,448 | 9,461,092 | ||||||||||||||||||||||||
Residential real estate – mortgage | 43,219 | 15,305 | 2,332 | 110,077 | 73,329 | 244,262 | 13,111,778 | 13,356,040 | ||||||||||||||||||||||||
Equity lines of credit | 9,113 | 4,776 | 2,044 | 35,552 | — | 51,485 | 2,186,966 | 2,238,451 | ||||||||||||||||||||||||
Equity loans | 6,364 | 2,666 | 833 | 19,571 | 42,460 | 71,894 | 537,900 | 609,794 | ||||||||||||||||||||||||
Credit card | 5,186 | 3,766 | 8,737 | — | — | 17,689 | 619,215 | 636,904 | ||||||||||||||||||||||||
Consumer – direct | 8,859 | 1,441 | 2,194 | 282 | 67 | 12,843 | 551,106 | 563,949 | ||||||||||||||||||||||||
Consumer – indirect | 24,633 | 4,585 | 1,231 | 1,611 | — | 32,060 | 2,416,342 | 2,448,402 | ||||||||||||||||||||||||
Covered loans | 2,410 | 152 | 4,590 | 4,153 | 3,832 | 15,137 | 216,579 | 231,716 | ||||||||||||||||||||||||
Total loans | $ | 114,781 | $ | 39,987 | $ | 25,631 | $ | 341,807 | $ | 178,259 | $ | 700,465 | $ | 53,003,892 | $ | 53,704,357 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Accruing TDRs | Total Past Due and Impaired | Not Past Due or Impaired | Total | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 9,485 | $ | 6,111 | $ | 2,212 | $ | 128,231 | $ | 25,548 | $ | 171,587 | $ | 20,037,622 | $ | 20,209,209 | ||||||||||||||||
Real estate – construction | 4,258 | 1,862 | 240 | 14,183 | 3,801 | 24,344 | 1,712,004 | 1,736,348 | ||||||||||||||||||||||||
Commercial real estate – mortgage | 9,521 | 4,869 | 797 | 129,672 | 59,727 | 204,586 | 8,901,743 | 9,106,329 | ||||||||||||||||||||||||
Residential real estate – mortgage | 48,597 | 22,629 | 2,460 | 102,904 | 74,236 | 250,826 | 12,456,053 | 12,706,879 | ||||||||||||||||||||||||
Equity lines of credit | 12,230 | 6,252 | 5,109 | 31,431 | — | 55,022 | 2,181,345 | 2,236,367 | ||||||||||||||||||||||||
Equity loans | 7,630 | 3,170 | 1,167 | 20,447 | 42,850 | 75,264 | 568,804 | 644,068 | ||||||||||||||||||||||||
Credit card | 5,955 | 4,676 | 10,277 | — | — | 20,908 | 639,165 | 660,073 | ||||||||||||||||||||||||
Consumer – direct | 8,736 | 3,000 | 2,402 | 540 | 91 | 14,769 | 501,803 | 516,572 | ||||||||||||||||||||||||
Consumer – indirect | 24,945 | 5,276 | 1,540 | 1,523 | — | 33,284 | 2,083,697 | 2,116,981 | ||||||||||||||||||||||||
Covered loans | 1,247 | 290 | 4,122 | 5,425 | 3,455 | 14,539 | 330,291 | 344,830 | ||||||||||||||||||||||||
Total loans | $ | 132,604 | $ | 58,135 | $ | 30,326 | $ | 434,356 | $ | 209,708 | $ | 865,129 | $ | 49,412,527 | $ | 50,277,656 | ||||||||||||||||
Schedule of troubled debt restructuring loans | ' | |||||||||||||||||||||||||||||||
The following table presents an analysis of the types of loans that were restructured and classified as TDRs, excluding loans classified as held for sale. | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Post-Modification Outstanding Recorded Investment | Number of Contracts | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | 2 | $ | 163 | 3 | $ | 703 | ||||||||||||||||||||||||||
Real estate – construction | — | — | 1 | 3 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 3 | 2,656 | 8 | 628 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 46 | 4,124 | 137 | 18,130 | ||||||||||||||||||||||||||||
Equity lines of credit | 48 | 2,178 | 460 | 23,236 | ||||||||||||||||||||||||||||
Equity loans | 23 | 1,330 | 333 | 11,303 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | 15 | 133 | ||||||||||||||||||||||||||||
Consumer – indirect | 32 | 470 | 384 | 2,004 | ||||||||||||||||||||||||||||
Covered loans | — | — | 1 | 1 | ||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Post-Modification Outstanding Recorded Investment | Number of Contracts | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | 2 | $ | 163 | 6 | $ | 5,059 | ||||||||||||||||||||||||||
Real estate – construction | — | — | 3 | 2,409 | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 9 | 6,586 | 13 | 3,832 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | 56 | 5,118 | 169 | 23,511 | ||||||||||||||||||||||||||||
Equity lines of credit | 97 | 4,480 | 460 | 23,236 | ||||||||||||||||||||||||||||
Equity loans | 41 | 3,317 | 359 | 13,260 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | 15 | 133 | ||||||||||||||||||||||||||||
Consumer – indirect | 50 | 672 | 384 | 2,004 | ||||||||||||||||||||||||||||
Covered loans | — | — | 2 | 49 | ||||||||||||||||||||||||||||
The following table provides a breakout of TDRs, including nonaccrual loans and covered loans and excluding loans classified as held for sale. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Total Past Due and Nonaccrual | Not Past Due or Nonaccrual | Total | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | — | $ | — | $ | 194 | $ | 5,158 | $ | 5,352 | $ | 10,297 | $ | 15,649 | ||||||||||||||||||
Real estate – construction | — | — | — | 183 | 183 | 2,244 | 2,427 | |||||||||||||||||||||||||
Commercial real estate – mortgage | 186 | — | — | 11,933 | 12,119 | 45,650 | 57,769 | |||||||||||||||||||||||||
Residential real estate – mortgage | 3,520 | 1,028 | 270 | 27,436 | 32,254 | 68,511 | 100,765 | |||||||||||||||||||||||||
Equity lines of credit | — | — | — | 24,111 | 24,111 | — | 24,111 | |||||||||||||||||||||||||
Equity loans | 1,425 | 1,401 | 165 | 12,874 | 15,865 | 39,469 | 55,334 | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer – direct | — | — | — | 67 | 67 | 67 | 134 | |||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,338 | 1,338 | — | 1,338 | |||||||||||||||||||||||||
Covered loans | — | 3 | — | 1,713 | 1,716 | 3,829 | 5,545 | |||||||||||||||||||||||||
Total loans | $ | 5,131 | $ | 2,432 | $ | 629 | $ | 84,813 | $ | 93,005 | $ | 170,067 | $ | 263,072 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Nonaccrual | Total Past Due and Nonaccrual | Not Past Due or Nonaccrual | Total | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 5 | $ | — | $ | — | $ | 20,498 | $ | 20,503 | $ | 25,543 | $ | 46,046 | ||||||||||||||||||
Real estate – construction | 32 | 50 | — | 181 | 263 | 3,719 | 3,982 | |||||||||||||||||||||||||
Commercial real estate – mortgage | 2,345 | — | — | 13,910 | 16,255 | 57,382 | 73,637 | |||||||||||||||||||||||||
Residential real estate – mortgage | 3,755 | 2,747 | 760 | 30,492 | 37,754 | 66,974 | 104,728 | |||||||||||||||||||||||||
Equity lines of credit | — | — | — | 24,592 | 24,592 | — | 24,592 | |||||||||||||||||||||||||
Equity loans | 1,799 | 1,022 | 557 | 12,823 | 16,201 | 39,472 | 55,673 | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer – direct | — | — | — | 90 | 90 | 91 | 181 | |||||||||||||||||||||||||
Consumer – indirect | — | — | — | 1,443 | 1,443 | — | 1,443 | |||||||||||||||||||||||||
Covered loans | $ | 21 | $ | — | $ | — | $ | 5,428 | $ | 5,449 | $ | 3,434 | $ | 8,883 | ||||||||||||||||||
Total loans | $ | 7,957 | $ | 3,819 | $ | 1,317 | $ | 109,457 | $ | 122,550 | $ | 196,615 | $ | 319,165 | ||||||||||||||||||
Schedule of subsequent default on restructured loans | ' | |||||||||||||||||||||||||||||||
The following tables provide a summary of initial subsequent defaults that occurred within one year of the restructure date. The table excludes loans classified as held for sale as of period-end and includes loans no longer in default as of period-end. | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment at Default | Number of Contracts | Recorded Investment at Default | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | — | $ | — | — | $ | — | ||||||||||||||||||||||||||
Real estate – construction | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 1 | 2,198 | 1 | 107 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | — | — | 4 | 122 | ||||||||||||||||||||||||||||
Equity lines of credit | — | — | — | — | ||||||||||||||||||||||||||||
Equity loans | 3 | 319 | — | — | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – indirect | — | — | — | — | ||||||||||||||||||||||||||||
Covered loans | — | — | — | — | ||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment at Default | Number of Contracts | Recorded Investment at Default | |||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial and agricultural | — | $ | — | 1 | $ | 9,531 | ||||||||||||||||||||||||||
Real estate – construction | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate – mortgage | 1 | 2,198 | 1 | 107 | ||||||||||||||||||||||||||||
Residential real estate – mortgage | — | — | 10 | 2,135 | ||||||||||||||||||||||||||||
Equity lines of credit | 3 | 275 | — | — | ||||||||||||||||||||||||||||
Equity loans | 4 | 382 | 1 | 54 | ||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – direct | — | — | — | — | ||||||||||||||||||||||||||||
Consumer – indirect | — | — | — | — | ||||||||||||||||||||||||||||
Covered loans | — | — | — | — | ||||||||||||||||||||||||||||
Loan_Sales_and_Servicing_Table
Loan Sales and Servicing (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Transfers and Servicing [Abstract] | ' | |||||||||||||||
Schedule of loans held for sale | ' | |||||||||||||||
The following table presents the composition of the loans held for sale portfolio. | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
(In Thousands) | ||||||||||||||||
Loans held for sale: | ||||||||||||||||
Real estate – construction | $ | — | $ | 4,447 | ||||||||||||
Commercial real estate – mortgage | — | 2,912 | ||||||||||||||
Residential real estate – mortgage | 211,879 | 139,750 | ||||||||||||||
Total loans held for sale | $ | 211,879 | $ | 147,109 | ||||||||||||
Schedule of residential real estate mortgage servicing rights | ' | |||||||||||||||
The following table is an analysis of the activity in the Company’s residential MSRs. | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
(In Thousands) | ||||||||||||||||
Carrying value, at beginning of period | $ | 31,828 | $ | 18,471 | $ | 30,065 | $ | 13,255 | ||||||||
Additions | 1,923 | 3,872 | 4,006 | 9,133 | ||||||||||||
Increase (decrease) in fair value: | ||||||||||||||||
Due to changes in valuation inputs or assumptions | (2,085 | ) | 710 | (1,794 | ) | 1,046 | ||||||||||
Due to other changes in fair value (1) | (562 | ) | (430 | ) | (1,173 | ) | (811 | ) | ||||||||
Carrying value, at end of period | $ | 31,104 | $ | 22,623 | $ | 31,104 | $ | 22,623 | ||||||||
-1 | Represents the realization of expected net servicing cash flows, expected borrower repayments and the passage of time. | |||||||||||||||
Schedule of sensitivity of current fair value of residential real estate mortgage servicing rights | ' | |||||||||||||||
At June 30, 2014 and December 31, 2013, the sensitivity of the current fair value of the residential MSRs to immediate 10% and 20% adverse changes in key economic assumptions are included in the following table: | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
(Dollars in Thousands) | ||||||||||||||||
Fair value of residential mortgage servicing rights | $ | 31,104 | $ | 30,065 | ||||||||||||
Composition of residential loans serviced for others: | ||||||||||||||||
Fixed rate mortgage loans | 96.4 | % | 96.4 | % | ||||||||||||
Adjustable rate mortgage loans | 3.6 | 3.6 | ||||||||||||||
Total | 100 | % | 100 | % | ||||||||||||
Weighted average life (in years) | 6.5 | 6.9 | ||||||||||||||
Prepayment speed: | 9.7 | % | 8.8 | % | ||||||||||||
Effect on fair value of a 10% increase | $ | (957 | ) | $ | (743 | ) | ||||||||||
Effect on fair value of a 20% increase | (1,891 | ) | (1,492 | ) | ||||||||||||
Weighted average discount rate: | 10 | % | 10 | % | ||||||||||||
Effect on fair value of a 10% increase | $ | (1,178 | ) | $ | (1,167 | ) | ||||||||||
Effect on fair value of a 20% increase | (2,272 | ) | (2,247 | ) |
Derivatives_and_Hedging_Tables
Derivatives and Hedging (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | ' | |||||||||||||||||||||||
The following table reflects the notional amount and fair value of derivative instruments included on the Company’s Unaudited Condensed Consolidated Balance Sheets on a gross basis. | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||
Notional Amount | Derivative Assets (1) | Derivative Liabilities (2) | Notional Amount | Derivative Assets (1) | Derivative Liabilities (2) | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||||||||
Fair value hedges: | ||||||||||||||||||||||||
Interest rate swaps related to long-term debt | $ | 423,950 | $ | 67,499 | $ | — | $ | 423,950 | $ | 67,623 | $ | — | ||||||||||||
Total fair value hedges | 67,499 | — | 67,623 | — | ||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Swaps related to commercial loans | 600,000 | 3,385 | — | 200,000 | 3,652 | — | ||||||||||||||||||
Swaps related to FHLB advances | 320,000 | — | 14,230 | 320,000 | — | 11,862 | ||||||||||||||||||
Total cash flow hedges | 3,385 | 14,230 | 3,652 | 11,862 | ||||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 70,884 | $ | 14,230 | $ | 71,275 | $ | 11,862 | ||||||||||||||||
Free-standing derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Free-standing derivative instruments-risk management and other purposes: | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Forward and option contracts related to held for sale mortgages | $ | 320,500 | $ | 208 | $ | 2,546 | $ | 171,364 | $ | 1,727 | $ | 56 | ||||||||||||
Equity contracts: | ||||||||||||||||||||||||
Purchased equity option related to equity-linked CDs | 686,268 | 54,582 | — | 588,377 | 47,875 | — | ||||||||||||||||||
Swap associated with sale of Visa, Inc. Class B shares | 47,074 | — | 1,177 | 49,748 | — | 1,244 | ||||||||||||||||||
Foreign exchange contracts: | ||||||||||||||||||||||||
Forwards related to commercial loans | 650,758 | 141 | 4,814 | 424,797 | 1,072 | 2,690 | ||||||||||||||||||
Spots related to commercial loans | 23,301 | 27 | 16 | 41,133 | 55 | 56 | ||||||||||||||||||
Total free-standing derivative instruments-risk management and other purposes | $ | 54,958 | $ | 8,553 | $ | 50,729 | $ | 4,046 | ||||||||||||||||
Free-standing derivative instruments – customer accommodation: | ||||||||||||||||||||||||
Futures contracts (3) | $ | 488,000 | $ | — | $ | — | $ | 657,000 | $ | — | $ | — | ||||||||||||
Interest rate lock commitments | 253,064 | 3,822 | 1 | 129,791 | 947 | 57 | ||||||||||||||||||
Written equity option related to equity-linked CDs | 667,447 | — | 53,117 | 576,196 | — | 46,573 | ||||||||||||||||||
Trading account assets and liabilities: | ||||||||||||||||||||||||
Interest rate contracts for customers | 15,555,775 | 271,908 | 211,684 | 13,474,347 | 262,578 | 200,899 | ||||||||||||||||||
Commodity contracts for customers | 590,859 | 15,198 | 12,897 | 906,650 | 23,132 | 18,373 | ||||||||||||||||||
Foreign exchange contracts for customers | 435,810 | 2,869 | 2,154 | 145,175 | 4,450 | 3,894 | ||||||||||||||||||
Total trading account assets and liabilities | 289,975 | 226,735 | 290,160 | 223,166 | ||||||||||||||||||||
Total free-standing derivative instruments- customer accommodations | $ | 293,797 | $ | 279,853 | $ | 291,107 | $ | 269,796 | ||||||||||||||||
-1 | Derivative assets, except for trading account assets that are recorded as a component of trading account assets on the Company's Unaudited Condensed Consolidated Balance Sheets, are recorded in other assets on the Company’s Unaudited Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||
-2 | Derivative liabilities are recorded in accrued expenses and other liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||
-3 | Changes in fair value are cash settled daily; therefore, there is no ending balance at any given reporting period. | |||||||||||||||||||||||
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location | ' | |||||||||||||||||||||||
The following table reflects the change in fair value for interest rate contracts and the related hedged items as well as other gains and losses related to fair value hedges including gains or losses recognized because of hedge ineffectiveness. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Condensed Consolidated | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
Statements of Income Caption | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Change in fair value of interest rate contracts: | ||||||||||||||||||||||||
Interest rate swaps hedging long term debt | Interest on FHLB and other borrowings | $ | 811 | $ | (17,870 | ) | $ | (124 | ) | $ | (27,724 | ) | ||||||||||||
Hedged long term debt | Interest on FHLB and other borrowings | (838 | ) | 17,887 | 219 | 28,044 | ||||||||||||||||||
Other gains on interest rate contracts: | ||||||||||||||||||||||||
Interest and amortization related to interest rate swaps on hedged long term debt | Interest on FHLB and other borrowings | 6,016 | 5,559 | 12,032 | 12,341 | |||||||||||||||||||
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location | ' | |||||||||||||||||||||||
The following table presents the effect of derivative instruments designated and qualifying as cash flow hedges on the Company’s Unaudited Condensed Consolidated Balance Sheets and the Company’s Unaudited Condensed Consolidated Statements of Income. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Net change in amount recognized in other comprehensive income | $ | (875 | ) | $ | 4,882 | $ | (1,682 | ) | $ | 6,265 | ||||||||||||||
Amount reclassified from accumulated other comprehensive income into net interest income | (564 | ) | (1,143 | ) | (1,727 | ) | (2,276 | ) | ||||||||||||||||
Amount of ineffectiveness recognized in net interest income | — | — | — | — | ||||||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position | ' | |||||||||||||||||||||||
The net gains and losses recorded in the Company's Unaudited Condensed Consolidated Statements of Income from free-standing derivative instruments used for risk management and other purposes are summarized in the following table. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Condensed Consolidated | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
Statements of Income Caption | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Forward & option contracts related to residential mortgage loans held for sale | Mortgage banking income | $ | (2,553 | ) | $ | 13,488 | $ | (4,107 | ) | $ | 12,744 | |||||||||||||
Equity contracts: | ||||||||||||||||||||||||
Purchased equity option related to equity-linked CDs | Other noninterest expense | 2,929 | 2,019 | 6,707 | 5,242 | |||||||||||||||||||
Foreign currency contracts: | ||||||||||||||||||||||||
Forward contracts related to commercial loans | Corporate and correspondent investment sales | (11,943 | ) | 3,456 | (17,430 | ) | 11,021 | |||||||||||||||||
Spot contracts related to commercial loans | Corporate and correspondent investment sales | 2,527 | (805 | ) | 3,407 | (805 | ) | |||||||||||||||||
The net gains and losses recorded in the Company's Unaudited Condensed Consolidated Statements of Income relating to free-standing derivative instruments used as a customer accommodation are summarized in the following table. | ||||||||||||||||||||||||
Gain (Loss) for the | ||||||||||||||||||||||||
Condensed Consolidated | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
Statements of Income Caption | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Futures contracts | Corporate and correspondent investment sales | $ | (157 | ) | $ | 575 | $ | (233 | ) | $ | 617 | |||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Interest rate contracts for customers | Corporate and correspondent investment sales | 4,040 | 9,410 | 9,158 | 16,308 | |||||||||||||||||||
Interest rate lock commitments | Mortgage banking income | 2,139 | (3,858 | ) | 2,931 | (4,483 | ) | |||||||||||||||||
Commodity contracts: | ||||||||||||||||||||||||
Commodity contracts for customers | Corporate and correspondent investment sales | (105 | ) | 79 | (97 | ) | 26 | |||||||||||||||||
Foreign currency contracts: | ||||||||||||||||||||||||
Foreign currency exchange contracts for customers | Corporate and correspondent investment sales | 177 | 283 | 370 | 283 | |||||||||||||||||||
Equity contracts: | ||||||||||||||||||||||||
Written equity option related to equity-linked CDs | Other noninterest expense | (2,865 | ) | (2,061 | ) | (6,544 | ) | (5,155 | ) |
Assets_and_Liabilities_Subject1
Assets and Liabilities Subject to Enforceable Master Netting Arrangements (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Offsetting [Abstract] | ' | |||||||||||||||||||||||
Schedule of assets and liabilities subject to enforceable master netting arrangements | ' | |||||||||||||||||||||||
The following represents the Company’s assets/liabilities subject to an enforceable master netting arrangement. The derivative instruments the Company has with its customers are not subject to an enforceable master netting arrangement. | ||||||||||||||||||||||||
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | ||||||||||||||||||||||||
Gross Amounts Recognized | Gross Amounts Offset in the Condensed Consolidated Balance Sheets | Net Amount Presented in the Condensed Consolidated Balance Sheets | Financial Instruments (1) | Cash Collateral Received/ Pledged (1) | Net Amount | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Derivative financial assets: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 173,401 | $ | — | $ | 173,401 | $ | 14,011 | $ | 12,942 | $ | 146,448 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 246,238 | — | 246,238 | — | — | 246,238 | ||||||||||||||||||
Total derivative financial assets | $ | 419,639 | $ | — | $ | 419,639 | $ | 14,011 | $ | 12,942 | $ | 392,686 | ||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 233,917 | $ | — | $ | 233,917 | $ | 49,762 | $ | 41,209 | $ | 142,946 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 68,719 | — | 68,719 | — | — | 68,719 | ||||||||||||||||||
Total derivative financial liabilities | $ | 302,636 | $ | — | $ | 302,636 | $ | 49,762 | $ | 41,209 | $ | 211,665 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Derivative financial assets: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 192,771 | $ | — | $ | 192,771 | $ | 7,723 | $ | 37,189 | $ | 147,859 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 220,340 | — | 220,340 | — | — | 220,340 | ||||||||||||||||||
Total derivative financial assets | $ | 413,111 | $ | — | $ | 413,111 | $ | 7,723 | $ | 37,189 | $ | 368,199 | ||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||
Total derivatives subject to a master netting arrangement | $ | 200,207 | $ | — | $ | 200,207 | $ | 46,466 | $ | 25,910 | $ | 127,831 | ||||||||||||
Total derivatives not subject to a master netting arrangement | 85,497 | — | 85,497 | — | — | 85,497 | ||||||||||||||||||
Total derivative financial liabilities | $ | 285,704 | $ | — | $ | 285,704 | $ | 46,466 | $ | 25,910 | $ | 213,328 | ||||||||||||
-1 | The actual amount of collateral received/pledged is limited to the derivative asset/liability balance and does not include excess collateral received/pledged. When excess collateral exists the collateral shown in the table above has been allocated based on the percentage of the actual amount of collateral posted. |
Commitment_Contingencies_and_G
Commitment, Contingencies and Guarantees (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Schedule of commitments to extend credit, standby letters of credit and commercial letters of credit | ' | |||||||
The following represents the Company’s commitments to extend credit, standby letters of credit and commercial letters of credit: | ||||||||
June 30, 2014 | December 31, 2013 | |||||||
(In Thousands) | ||||||||
Commitments to extend credit | $ | 27,218,532 | $ | 26,545,608 | ||||
Standby and commercial letters of credit | 1,999,730 | 2,093,159 | ||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
Schedule of differences between aggregate fair value and aggregate unpaid principle balance | ' | |||||||||||||||||||||||
The following tables summarize the difference between the aggregate fair value and the aggregate unpaid principal balance for residential mortgage loans measured at fair value. | ||||||||||||||||||||||||
Aggregate Fair Value | Aggregate Unpaid Principal Balance | Difference | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Residential mortgage loans held for sale | $ | 211,879 | $ | 203,361 | $ | 8,518 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Residential mortgage loans held for sale | $ | 139,750 | $ | 137,300 | $ | 2,450 | ||||||||||||||||||
Summary of asset and liabilities measure at fair value on a recurring basis | ' | |||||||||||||||||||||||
The following tables summarize the financial assets and liabilities measured at fair value on a recurring basis. | ||||||||||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||||||
June 30, 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Trading account assets: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 25,679 | $ | — | $ | 25,679 | $ | — | ||||||||||||||||
Mortgage-backed securities | 23,344 | — | 23,344 | — | ||||||||||||||||||||
Collateralized mortgage obligations | 9,870 | — | 9,870 | — | ||||||||||||||||||||
State and political subdivisions | 3,682 | — | 3,682 | — | ||||||||||||||||||||
Other debt securities | 2,507 | — | 2,507 | — | ||||||||||||||||||||
Interest rate contracts | 271,908 | — | 271,908 | — | ||||||||||||||||||||
Commodity contracts | 15,198 | — | 15,198 | — | ||||||||||||||||||||
Foreign exchange contracts | 2,869 | — | 2,869 | — | ||||||||||||||||||||
Other trading assets | 1,832 | — | 123 | 1,709 | ||||||||||||||||||||
Total trading account assets | 356,889 | — | 355,180 | 1,709 | ||||||||||||||||||||
Loans held for sale | 211,879 | — | 211,879 | — | ||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | 571,032 | — | 571,032 | — | ||||||||||||||||||||
Mortgage-backed securities | 5,007,481 | — | 5,007,481 | — | ||||||||||||||||||||
Collateralized mortgage obligations | 2,357,625 | — | 2,357,625 | — | ||||||||||||||||||||
States and political subdivisions | 497,990 | — | 497,990 | — | ||||||||||||||||||||
Other debt securities | 37,094 | 37,045 | 49 | — | ||||||||||||||||||||
Equity securities (1) | 70 | 64 | — | 6 | ||||||||||||||||||||
Total investment securities available for sale | 8,471,292 | 37,109 | 8,434,177 | 6 | ||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | 74,914 | 141 | 70,951 | 3,822 | ||||||||||||||||||||
Equity contracts | 54,582 | — | 54,582 | — | ||||||||||||||||||||
Foreign exchange contracts | 168 | — | 168 | — | ||||||||||||||||||||
Total derivative assets | 129,664 | 141 | 125,701 | 3,822 | ||||||||||||||||||||
Other assets | 31,104 | — | — | 31,104 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Trading account liabilities: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 2,472 | $ | — | $ | 2,472 | $ | — | ||||||||||||||||
Mortgage-backed securities | 13,109 | — | 13,109 | — | ||||||||||||||||||||
Interest rate contracts | 211,684 | — | 211,684 | — | ||||||||||||||||||||
Commodity contracts | 12,897 | — | 12,897 | — | ||||||||||||||||||||
Foreign exchange contracts | 2,154 | — | 2,154 | — | ||||||||||||||||||||
Other trading liabilities | 124 | — | 124 | — | ||||||||||||||||||||
Total trading account liabilities | 242,440 | — | 242,440 | — | ||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate contracts | 16,777 | — | 16,776 | 1 | ||||||||||||||||||||
Equity contracts | 53,117 | — | 53,117 | — | ||||||||||||||||||||
Foreign exchange contracts | 4,830 | — | 4,830 | — | ||||||||||||||||||||
Total derivative liabilities | 74,724 | — | 74,723 | 1 | ||||||||||||||||||||
-1 | Excludes $501 million of FHLB and Federal Reserve stock required to be owned by the Company at June 30, 2014. These securities are carried at par. | |||||||||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||||||
December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Trading account assets: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | $ | 24,655 | $ | — | $ | 24,655 | $ | — | ||||||||||||||||
Mortgage-backed securities | 1,285 | — | 1,285 | — | ||||||||||||||||||||
State and political subdivisions | 2,160 | — | 2,160 | — | ||||||||||||||||||||
Other equity securities | 2 | — | 2 | — | ||||||||||||||||||||
Interest rate contracts | 262,578 | — | 262,578 | — | ||||||||||||||||||||
Commodity contracts | 23,132 | — | 23,132 | — | ||||||||||||||||||||
Foreign exchange contracts | 4,450 | — | 4,450 | — | ||||||||||||||||||||
Other trading assets | 1,668 | — | 23 | 1,645 | ||||||||||||||||||||
Total trading account assets | 319,930 | — | 318,285 | 1,645 | ||||||||||||||||||||
Loans held for sale | 139,750 | — | 139,750 | — | ||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies | 260,937 | — | 260,937 | — | ||||||||||||||||||||
Mortgage-backed securities | 5,233,791 | — | 5,233,791 | — | ||||||||||||||||||||
Collateralized mortgage obligations | 1,756,398 | — | 1,756,398 | — | ||||||||||||||||||||
States and political subdivisions | 509,436 | — | 509,436 | — | ||||||||||||||||||||
Other debt securities | 40,333 | 40,283 | 50 | — | ||||||||||||||||||||
Equity securities (1) | 63 | 57 | — | 6 | ||||||||||||||||||||
Total investment securities available for sale | 7,800,958 | 40,340 | 7,760,612 | 6 | ||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | 73,949 | — | 73,002 | 947 | ||||||||||||||||||||
Equity contracts | 47,875 | — | 47,875 | — | ||||||||||||||||||||
Foreign exchange contracts | 1,127 | — | 1,127 | — | ||||||||||||||||||||
Total derivative assets | 122,951 | — | 122,004 | 947 | ||||||||||||||||||||
Other assets | 30,065 | — | — | 30,065 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Trading account liabilities: | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 5,568 | $ | — | $ | 5,568 | $ | — | ||||||||||||||||
Interest rate contracts | 200,899 | — | 200,899 | — | ||||||||||||||||||||
Commodity contracts | 18,373 | — | 18,373 | — | ||||||||||||||||||||
Foreign exchange contracts | 3,894 | — | 3,894 | — | ||||||||||||||||||||
Other trading liabilities | 23 | — | 23 | — | ||||||||||||||||||||
Total trading account liabilities | 228,757 | — | 228,757 | — | ||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate contracts | 11,975 | — | 11,918 | 57 | ||||||||||||||||||||
Equity contracts | 46,573 | — | 46,573 | — | ||||||||||||||||||||
Foreign exchange contracts | 2,746 | — | 2,746 | — | ||||||||||||||||||||
Total derivative liabilities | 61,294 | — | 61,237 | 57 | ||||||||||||||||||||
-1 | Excludes $512 million of FHLB and Federal Reserve stock required to be owned by the Company at December 31, 2013. These securities are carried at par. | |||||||||||||||||||||||
Reconciliation of assets measured on a recurring basis using significant unobservable inputs | ' | |||||||||||||||||||||||
The following table reconciles the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). | ||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||
Three Months Ended June 30, | Other Trading Assets | States and Political Subdivisions | Equity Securities | Interest Rate Contracts, net | Other Assets | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance, April 1, 2013 | $ | 2,020 | $ | 8 | $ | 6 | $ | 4,391 | $ | 18,471 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | (58 | ) | — | — | (3,858 | ) | 280 | |||||||||||||||||
Included in other comprehensive income | — | — | — | — | — | |||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 3,872 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | (8 | ) | — | — | — | ||||||||||||||||||
Balance, June 30, 2013 | $ | 1,962 | $ | — | $ | 6 | $ | 533 | $ | 22,623 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2013 | $ | (58 | ) | $ | — | $ | — | $ | (3,858 | ) | $ | 280 | ||||||||||||
Balance, April 1, 2014 | $ | 1,692 | $ | — | $ | 6 | $ | 1,682 | $ | 31,828 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | 17 | — | — | 2,139 | (2,647 | ) | ||||||||||||||||||
Included in other comprehensive income | — | — | — | — | — | |||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 1,923 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | — | — | — | ||||||||||||||||||||
Balance, June 30, 2014 | $ | 1,709 | $ | — | $ | 6 | $ | 3,821 | $ | 31,104 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2014 | $ | 17 | $ | — | $ | — | $ | 2,139 | $ | (2,647 | ) | |||||||||||||
-1 | Included in noninterest income in the Unaudited Condensed Consolidated Statements of Income. | |||||||||||||||||||||||
The following table reconciles the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). | ||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||
Six Months Ended June 30, | Other Trading Assets | States and Political Subdivisions | Equity Securities | Interest Rate Contracts, net | Other Assets | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 2,083 | $ | 8 | $ | 6 | $ | 5,016 | $ | 13,255 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | (121 | ) | — | — | (4,483 | ) | 235 | |||||||||||||||||
Included in other comprehensive income | — | — | — | — | — | |||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 9,133 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | (8 | ) | — | — | — | ||||||||||||||||||
Balance, June 30, 2013 | $ | 1,962 | $ | — | $ | 6 | $ | 533 | $ | 22,623 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2013 | $ | (121 | ) | $ | — | $ | — | $ | (4,483 | ) | $ | 235 | ||||||||||||
Balance, January 1, 2014 | $ | 1,645 | $ | — | $ | 6 | $ | 890 | $ | 30,065 | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||||||
Total gains or losses (realized/unrealized): | ||||||||||||||||||||||||
Included in earnings (1) | 64 | — | — | 2,931 | (2,967 | ) | ||||||||||||||||||
Included in other comprehensive income | — | — | — | — | ||||||||||||||||||||
Purchases, issuances, sales and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | — | |||||||||||||||||||
Issuances | — | — | — | — | 4,006 | |||||||||||||||||||
Sales | — | — | — | — | — | |||||||||||||||||||
Settlements | — | — | — | — | — | |||||||||||||||||||
Balance, June 30, 2014 | $ | 1,709 | $ | — | $ | 6 | $ | 3,821 | $ | 31,104 | ||||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2014 | $ | 64 | $ | — | $ | — | $ | 2,931 | $ | (2,967 | ) | |||||||||||||
-1 | Included in noninterest income in the Unaudited Condensed Consolidated Statements of Income. | |||||||||||||||||||||||
Schedule of carrying amounts and estimated fair values within the fair value hierarchy | ' | |||||||||||||||||||||||
The following table represents those assets that were subject to fair value adjustments during the three and six months ended June 30, 2014 and 2013 and still held as of the end of the period, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period. | ||||||||||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Total Gains (Losses) | ||||||||||||||||||||
June 30, 2014 | (Level 1) | (Level 2) | (Level 3) | Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Investment securities held to maturity | $ | 3,690 | $ | — | $ | — | $ | 3,690 | $ | (34 | ) | $ | (180 | ) | ||||||||||
Impaired loans (1) | 131,622 | — | — | 131,622 | (14,532 | ) | (18,875 | ) | ||||||||||||||||
OREO | 21,113 | — | — | 21,113 | (689 | ) | (1,582 | ) | ||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Total Gains (Losses) | ||||||||||||||||||||
June 30, 2013 | (Level 1) | (Level 2) | (Level 3) | Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Investment securities held to maturity | $ | 3,687 | $ | — | $ | — | $ | 3,687 | $ | (462 | ) | $ | (462 | ) | ||||||||||
Loans held for sale | 7,616 | — | — | 7,616 | — | 182 | ||||||||||||||||||
Impaired loans (1) | 318,288 | — | — | 318,288 | (18,681 | ) | (35,723 | ) | ||||||||||||||||
OREO | 52,798 | — | — | 52,798 | (2,789 | ) | (4,593 | ) | ||||||||||||||||
-1 | Total gains (losses) represent charge-offs on impaired loans for which adjustments are based on the appraised value of the collateral. | |||||||||||||||||||||||
Schedule of fair value measurement inputs | ' | |||||||||||||||||||||||
The table below presents quantitative information about the significant unobservable inputs for material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring and nonrecurring basis. | ||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||||||||||
Fair Value at | Range of Unobservable Inputs | |||||||||||||||||||||||
June 30, 2014 | Valuation Technique | Unobservable Input(s) | (Weighted Average) | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Recurring fair value measurements: | ||||||||||||||||||||||||
Other trading assets | $ | 1,709 | Discounted cash flow | Default rate | 9.80% | |||||||||||||||||||
Prepayment rate | 5.8% - 10.2% (7.4%) | |||||||||||||||||||||||
Interest rate contracts | 3,821 | Discounted cash flow | Closing ratios (pull-through) | 0.0% - 98.7% (55.7%) | ||||||||||||||||||||
Cap grids | 0.4% - 2.5% (1.0%) | |||||||||||||||||||||||
Other assets - MSRs | 31,104 | Discounted cash flow | Discount rate | 10.0% - 11.0% (10.0%) | ||||||||||||||||||||
Constant prepayment rate or life speed | 6.1% - 57.1% (9.7%) | |||||||||||||||||||||||
Cost to service | 49.4% - 551.2% (65.4%) | |||||||||||||||||||||||
Nonrecurring fair value measurements: | ||||||||||||||||||||||||
Investment securities held to maturity | $ | 3,690 | Discounted cash flow | Prepayment rate | 6.6% - 7.0% (6.8%) | |||||||||||||||||||
Default rate | 4.6% - 7.3% (5.9%) | |||||||||||||||||||||||
Loss severity | 49.2% - 93.0% (71.1%) | |||||||||||||||||||||||
Impaired loans | 131,622 | Appraised value | Appraised value | 0.0% - 100.0% (33.3%) | ||||||||||||||||||||
OREO | 21,113 | Appraised value | Appraised value | 8.00% | ||||||||||||||||||||
Schedule of fair value by balance sheet location | ' | |||||||||||||||||||||||
The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are as follows: | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Carrying Amount | Estimated Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Financial Instruments: | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 3,264,202 | $ | 3,264,202 | $ | 3,264,202 | $ | — | $ | — | ||||||||||||||
Trading account assets | 356,889 | 356,889 | — | 355,180 | 1,709 | |||||||||||||||||||
Investment securities available for sale | 8,972,237 | 8,972,237 | 37,109 | 8,434,177 | 500,951 | |||||||||||||||||||
Investment securities held to maturity | 1,448,192 | 1,356,799 | — | — | 1,356,799 | |||||||||||||||||||
Loans held for sale | 211,879 | 211,879 | — | 211,879 | — | |||||||||||||||||||
Loans, net | 53,371,033 | 51,502,147 | — | — | 51,502,147 | |||||||||||||||||||
Derivative assets | 129,664 | 129,664 | 141 | 125,701 | 3,822 | |||||||||||||||||||
Other assets | 31,104 | 31,104 | — | — | 31,104 | |||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | $ | 58,118,406 | $ | 58,169,917 | $ | — | $ | 58,169,917 | $ | — | ||||||||||||||
FHLB and other borrowings | 3,958,497 | 3,960,161 | — | 3,960,161 | — | |||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 864,263 | 864,263 | — | 864,263 | — | |||||||||||||||||||
Other short-term borrowings | 15,705 | 15,705 | — | 15,705 | — | |||||||||||||||||||
Trading account liabilities | 242,440 | 242,440 | — | 242,440 | — | |||||||||||||||||||
Derivative liabilities | 74,724 | 74,724 | — | 74,723 | 1 | |||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Carrying Amount | Estimated Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Financial Instruments: | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 3,598,460 | $ | 3,598,460 | $ | 3,598,460 | $ | — | $ | — | ||||||||||||||
Trading account assets | 319,930 | 319,930 | — | 318,285 | 1,645 | |||||||||||||||||||
Investment securities available for sale | 8,313,085 | 8,313,085 | 40,340 | 7,760,612 | 512,133 | |||||||||||||||||||
Investment securities held to maturity | 1,519,196 | 1,405,258 | — | — | 1,405,258 | |||||||||||||||||||
Loans held for sale | 147,109 | 147,109 | — | 139,750 | 7,359 | |||||||||||||||||||
Loans, net | 49,966,297 | 47,822,339 | — | — | 47,822,339 | |||||||||||||||||||
Derivative assets | 122,951 | 122,951 | — | 122,004 | 947 | |||||||||||||||||||
Other assets | 30,065 | 30,065 | — | — | 30,065 | |||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | $ | 54,437,490 | $ | 54,492,651 | $ | — | $ | 54,492,651 | $ | — | ||||||||||||||
FHLB and other borrowings | 4,298,707 | 4,287,220 | — | 4,287,220 | — | |||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 852,570 | 852,570 | — | 852,570 | — | |||||||||||||||||||
Other short-term borrowings | 5,591 | 5,591 | — | 5,591 | — | |||||||||||||||||||
Trading account liabilities | 228,757 | 228,757 | — | 228,757 | — | |||||||||||||||||||
Derivative liabilities | 61,294 | 61,294 | — | 61,237 | 57 | |||||||||||||||||||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||
Change in components of other comprehensive income (loss) | ' | |||||||||||||||||||||||
The following summarizes the change in the components of other comprehensive income (loss). | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Pretax | Tax Expense/ (Benefit) | After-tax | Pretax | Tax Expense/ (Benefit) | After-tax | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||
Unrealized holding gains (losses) arising during period from securities available for sale | $ | 40,454 | $ | 14,539 | $ | 25,915 | $ | (140,662 | ) | $ | (51,485 | ) | $ | (89,177 | ) | |||||||||
Less: reclassification adjustment for net gains on sale of securities in net income | 21,464 | 7,712 | 13,752 | 18,075 | 6,623 | 11,452 | ||||||||||||||||||
Net change in unrealized gains (losses) on securities available for sale | 18,990 | 6,827 | 12,163 | (158,737 | ) | (58,108 | ) | (100,629 | ) | |||||||||||||||
Change in unamortized net holding losses on investment securities held to maturity | 2,694 | 967 | 1,727 | 5,789 | 2,121 | 3,668 | ||||||||||||||||||
Less: non-credit related impairment on investment securities held to maturity | — | — | — | 2,288 | 838 | 1,450 | ||||||||||||||||||
Change in unamortized non-credit related impairment on investment securities held to maturity | 369 | 132 | 237 | 72 | 27 | 45 | ||||||||||||||||||
Net change in unamortized holding losses on securities held to maturity | 3,063 | 1,099 | 1,964 | 3,573 | 1,310 | 2,263 | ||||||||||||||||||
Unrealized holding gains (losses) arising during period from cash flow hedge instruments | (1,365 | ) | (490 | ) | (875 | ) | 7,662 | 2,780 | 4,882 | |||||||||||||||
Change in defined benefit plans | — | — | — | — | (36 | ) | 36 | |||||||||||||||||
Other comprehensive income (loss) | $ | 20,688 | $ | 7,436 | $ | 13,252 | $ | (147,502 | ) | $ | (54,054 | ) | $ | (93,448 | ) | |||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Pretax | Tax Expense/ (Benefit) | After-tax | Pretax | Tax Expense/ (Benefit) | After-tax | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||
Unrealized holding gains (losses) arising during period from securities available for sale | $ | 81,416 | $ | 29,261 | $ | 52,155 | $ | (145,611 | ) | $ | (53,294 | ) | $ | (92,317 | ) | |||||||||
Less: reclassification adjustment for net gains on sale of securities in net income | 37,898 | 13,620 | 24,278 | 33,030 | 12,089 | 20,941 | ||||||||||||||||||
Net change in unrealized gains (losses) on securities available for sale | 43,518 | 15,641 | 27,877 | (178,641 | ) | (65,383 | ) | (113,258 | ) | |||||||||||||||
Change in unamortized net holding losses on investment securities held to maturity | 7,468 | 2,683 | 4,785 | 9,535 | 3,490 | 6,045 | ||||||||||||||||||
Less: non-credit related impairment on investment securities held to maturity | 235 | 84 | 151 | 2,288 | 838 | 1,450 | ||||||||||||||||||
Change in unamortized non-credit related impairment on investment securities held to maturity | 754 | 271 | 483 | 1,713 | 627 | 1,086 | ||||||||||||||||||
Net change in unamortized holding losses on securities held to maturity | 7,987 | 2,870 | 5,117 | 8,960 | 3,279 | 5,681 | ||||||||||||||||||
Unrealized holding gains (losses) arising during period from cash flow hedge instruments | (2,626 | ) | (944 | ) | (1,682 | ) | 9,842 | 3,577 | 6,265 | |||||||||||||||
Change in defined benefit plans | (2,672 | ) | (1,001 | ) | (1,671 | ) | 1,017 | 337 | 680 | |||||||||||||||
Other comprehensive income (loss) | $ | 46,207 | $ | 16,566 | $ | 29,641 | $ | (158,822 | ) | $ | (58,190 | ) | $ | (100,632 | ) | |||||||||
Schedule of accumulated other comprehensive income (loss) | ' | |||||||||||||||||||||||
Activity in accumulated other comprehensive income (loss), net of tax was as follows: | ||||||||||||||||||||||||
Unrealized Gains (Losses) on Securities Available for Sale and Transferred to Held to Maturity | Accumulated (Gains) Losses on Cash Flow Hedging Instruments | Defined Benefit Plan Adjustment | Unamortized Impairment Losses on Investment Securities Held to Maturity | Total | ||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 86,379 | $ | (13,387 | ) | $ | (38,243 | ) | $ | (8,691 | ) | $ | 26,058 | |||||||||||
Other comprehensive income (loss) before reclassifications | (92,317 | ) | 4,816 | — | (1,450 | ) | (88,951 | ) | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (14,896 | ) | 1,449 | 680 | 1,086 | (11,681 | ) | |||||||||||||||||
Net current period other comprehensive income (loss) | (107,213 | ) | 6,265 | 680 | (364 | ) | (100,632 | ) | ||||||||||||||||
Balance, June 30, 2013 | $ | (20,834 | ) | $ | (7,122 | ) | $ | (37,563 | ) | $ | (9,055 | ) | $ | (74,574 | ) | |||||||||
Balance, January 1, 2014 | $ | (31,490 | ) | $ | (5,289 | ) | $ | (41,921 | ) | $ | (9,236 | ) | $ | (87,936 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | 52,155 | (2,789 | ) | — | (151 | ) | 49,215 | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (19,493 | ) | 1,107 | (1,671 | ) | 483 | (19,574 | ) | ||||||||||||||||
Net current period other comprehensive income (loss) | 32,662 | (1,682 | ) | (1,671 | ) | 332 | 29,641 | |||||||||||||||||
Balance, June 30, 2014 | $ | 1,172 | $ | (6,971 | ) | $ | (43,592 | ) | $ | (8,904 | ) | $ | (58,295 | ) | ||||||||||
Schedule of reclassifications out of accumulated other comprehensive income | ' | |||||||||||||||||||||||
The following table presents information on reclassifications out of accumulated other comprehensive income. | ||||||||||||||||||||||||
Details About Accumulated Other Comprehensive Income Components | Amounts Reclassified From Accumulated Other Comprehensive Income (1) | Condensed Consolidated Statement of Income Caption | ||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Unrealized Gains (Losses) on Securities Available for Sale and Transferred to Held to Maturity | $ | 21,464 | $ | 18,075 | $ | 37,898 | $ | 33,030 | Investment securities gains, net | |||||||||||||||
(2,694 | ) | (5,789 | ) | (7,468 | ) | (9,535 | ) | Interest on investment securities held to maturity | ||||||||||||||||
18,770 | 12,286 | 30,430 | 23,495 | |||||||||||||||||||||
(6,745 | ) | (4,502 | ) | (10,937 | ) | (8,599 | ) | Income tax expense | ||||||||||||||||
$ | 12,025 | $ | 7,784 | $ | 19,493 | $ | 14,896 | Net of tax | ||||||||||||||||
Accumulated (Gains) Losses on Cash Flow Hedging Instruments | $ | 1,212 | $ | 591 | $ | 1,824 | $ | 1,180 | Interest and fees on loans | |||||||||||||||
(1,776 | ) | (1,734 | ) | (3,551 | ) | (3,456 | ) | Interest and fees on FHLB advances | ||||||||||||||||
(564 | ) | (1,143 | ) | (1,727 | ) | (2,276 | ) | |||||||||||||||||
203 | 416 | 620 | 827 | Income tax benefit | ||||||||||||||||||||
$ | (361 | ) | $ | (727 | ) | $ | (1,107 | ) | $ | (1,449 | ) | Net of tax | ||||||||||||
Defined Benefit Plan Adjustment | $ | — | $ | — | $ | 2,672 | $ | (1,017 | ) | -2 | ||||||||||||||
— | (36 | ) | (1,001 | ) | 337 | Income tax (expense) benefit | ||||||||||||||||||
$ | — | $ | (36 | ) | $ | 1,671 | $ | (680 | ) | Net of tax | ||||||||||||||
Unamortized Impairment Losses on Investment Securities Held to Maturity | $ | (369 | ) | $ | (72 | ) | $ | (754 | ) | $ | (1,713 | ) | Interest on investment securities held to maturity | |||||||||||
132 | 27 | 271 | 627 | Income tax benefit | ||||||||||||||||||||
$ | (237 | ) | $ | (45 | ) | $ | (483 | ) | $ | (1,086 | ) | Net of tax | ||||||||||||
-1 | Amounts in parentheses indicate debits to the consolidated statement of income. | |||||||||||||||||||||||
-2 | These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 18, Benefit Plans, in the Notes to the December 31, 2013, Consolidated Financial Statements for additional details). |
Supplemental_Disclosure_for_St1
Supplemental Disclosure for Statement of Cash Flows (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||
Schedule of supplemental cash flow disclosures | ' | |||||||
The following table presents the Company’s supplemental disclosures for statement of cash flows. | ||||||||
Six Months Ended June 30, | ||||||||
2014 | 2013 | |||||||
(In Thousands) | ||||||||
Supplemental disclosures of cash flow information: | ||||||||
Interest paid | $ | 134,941 | $ | 132,366 | ||||
Net income taxes paid | 28,025 | 72,124 | ||||||
Supplemental schedule of noncash investing and financing activities: | ||||||||
Transfer of loans and loans held for sale to OREO | $ | 11,614 | $ | 20,220 | ||||
Transfer of loans to loans held for sale | — | 55,000 | ||||||
Change in unrealized gain (loss) on available for sale securities | 43,518 | (178,641 | ) | |||||
Issuance of restricted stock, net of cancellations | (1,060 | ) | (596 | ) | ||||
Business combinations: | ||||||||
Entities acquired: | ||||||||
Assets acquired | 117,068 | — | ||||||
Liabilities assumed | 18,329 | — | ||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Schedule of segment reporting information | ' | |||||||||||||||||||||||
The following tables present the segment information for the Company’s segments. | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income | $ | 205,994 | $ | 211,964 | $ | 15,075 | $ | 1,049 | $ | 64,692 | $ | 498,774 | ||||||||||||
Allocated provision for loan losses | 18,638 | 26,493 | (1,351 | ) | — | 1,472 | 45,252 | |||||||||||||||||
Noninterest income | 167,013 | 60,394 | 41,325 | 25,755 | (59,042 | ) | 235,445 | |||||||||||||||||
Noninterest expense | 319,388 | 119,173 | 37,708 | 3,397 | 65,596 | 545,262 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 34,981 | 126,692 | 20,043 | 23,407 | (61,418 | ) | 143,705 | |||||||||||||||||
Income tax expense (benefit) | 13,031 | 47,192 | 7,466 | 8,719 | (40,278 | ) | 36,130 | |||||||||||||||||
Net income (loss) | 21,950 | 79,500 | 12,577 | 14,688 | (21,140 | ) | 107,575 | |||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 65 | — | 439 | — | 504 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 21,950 | $ | 79,435 | $ | 12,577 | $ | 14,249 | $ | (21,140 | ) | $ | 107,071 | |||||||||||
Average assets | $ | 21,485,600 | $ | 29,738,664 | $ | 4,569,657 | $ | 12,738,181 | $ | 7,472,839 | $ | 76,004,941 | ||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income (expense) | $ | 201,028 | $ | 187,351 | $ | 13,532 | $ | (13,513 | ) | $ | 121,917 | $ | 510,315 | |||||||||||
Allocated provision for loan losses | 22,555 | 4,489 | 1,477 | 38 | (4,322 | ) | 24,237 | |||||||||||||||||
Noninterest income | 165,737 | 62,632 | 32,096 | 47,105 | (58,557 | ) | 249,013 | |||||||||||||||||
Noninterest expense | 326,703 | 109,898 | 30,583 | 3,799 | 83,717 | 554,700 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 17,507 | 135,596 | 13,568 | 29,755 | (16,035 | ) | 180,391 | |||||||||||||||||
Income tax expense (benefit) | 6,510 | 50,519 | 5,054 | 11,798 | (22,285 | ) | 51,596 | |||||||||||||||||
Net income (loss) | 10,997 | 85,077 | 8,514 | 17,957 | 6,250 | 128,795 | ||||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 122 | — | 446 | — | 568 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 10,997 | $ | 84,955 | $ | 8,514 | $ | 17,511 | $ | 6,250 | $ | 128,227 | ||||||||||||
Average assets | $ | 19,995,978 | $ | 25,095,054 | $ | 3,104,494 | $ | 13,869,698 | $ | 7,879,334 | $ | 69,944,558 | ||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income | $ | 409,983 | $ | 409,951 | $ | 27,896 | $ | 3,360 | $ | 142,883 | $ | 994,073 | ||||||||||||
Allocated provision for loan losses | 46,865 | 33,075 | (2,045 | ) | — | 4,623 | 82,518 | |||||||||||||||||
Noninterest income | 324,151 | 126,298 | 84,054 | 47,770 | (127,500 | ) | 454,773 | |||||||||||||||||
Noninterest expense | 637,662 | 238,145 | 66,778 | 7,037 | 114,507 | 1,064,129 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 49,607 | 265,029 | 47,217 | 44,093 | (103,747 | ) | 302,199 | |||||||||||||||||
Income tax expense (benefit) | 18,478 | 98,723 | 17,588 | 16,425 | (71,517 | ) | 79,697 | |||||||||||||||||
Net income (loss) | 31,129 | 166,306 | 29,629 | 27,668 | (32,230 | ) | 222,502 | |||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 82 | — | 875 | — | 957 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 31,129 | $ | 166,224 | $ | 29,629 | $ | 26,793 | $ | (32,230 | ) | $ | 221,545 | |||||||||||
Average assets | $ | 21,279,485 | $ | 29,222,559 | $ | 4,200,964 | $ | 12,537,345 | $ | 7,448,998 | $ | 74,689,351 | ||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||||
Wealth and Retail Banking | Commercial Banking | Corporate and Investment Banking | Treasury | Corporate Support and Other | Consolidated | |||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Net interest income (expense) | $ | 400,361 | $ | 367,934 | $ | 26,302 | $ | (28,716 | ) | $ | 267,380 | $ | 1,033,261 | |||||||||||
Allocated provision for loan losses | 51,334 | (13,732 | ) | 2,224 | 38 | 3,988 | 43,852 | |||||||||||||||||
Noninterest income | 319,822 | 111,285 | 58,333 | 66,922 | (101,972 | ) | 454,390 | |||||||||||||||||
Noninterest expense | 637,745 | 217,422 | 57,992 | 6,971 | 180,235 | 1,100,365 | ||||||||||||||||||
Net income (loss) before income tax expense (benefit) | 31,104 | 275,529 | 24,419 | 31,197 | (18,815 | ) | 343,434 | |||||||||||||||||
Income tax expense (benefit) | 11,567 | 102,649 | 9,096 | 13,042 | (32,251 | ) | 104,103 | |||||||||||||||||
Net income (loss) | 19,537 | 172,880 | 15,323 | 18,155 | 13,436 | 239,331 | ||||||||||||||||||
Less: net income attributable to noncontrolling interests | — | 75 | — | 886 | — | 961 | ||||||||||||||||||
Net income (loss) attributable to shareholder | $ | 19,537 | $ | 172,805 | $ | 15,323 | $ | 17,269 | $ | 13,436 | $ | 238,370 | ||||||||||||
Average assets | $ | 19,879,500 | $ | 24,709,118 | $ | 3,015,608 | $ | 14,413,166 | $ | 7,882,747 | $ | 69,900,139 | ||||||||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Schedule of derivative contracts between the Company and BBVA | ' | |||||||
The net fair value of outstanding derivative contracts between the Company and BBVA are detailed below. | ||||||||
June 30, 2014 | December 31, 2013 | |||||||
(In Thousands) | ||||||||
Derivative contracts | ||||||||
Cash flow hedges | $ | 2,848 | $ | 3,652 | ||||
Free-standing derivative instruments – risk management and other purposes | 18,477 | 21,650 | ||||||
Free-standing derivative instruments – customer accommodation | (24,431 | ) | (842 | ) |
Basis_of_Presentation_Details
Basis of Presentation (Details) (Prior Year Miscalculation [Member], USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2013 |
Prior Year Miscalculation [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Benefit included in provision for loan losses due to correction of error from a prior period | $20.40 |
Acquisition_Activities_Details
Acquisition Activities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Mar. 20, 2014 | Jun. 30, 2014 |
Simple | Simple | |||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Assets acquired | ' | ' | $2,000,000 | ' |
Liabilities assumed | ' | ' | 2,000,000 | ' |
Goodwill acquired | 5,076,142,000 | 4,971,645,000 | 106,000,000 | ' |
Other intangible assets acquired | ' | ' | 13,000,000 | ' |
Cash consideration paid | ' | ' | 98,000,000 | ' |
Contingent consideration paid | ' | ' | 16,000,000 | ' |
Acquisition related costs in noninterest expense | ' | ' | ' | $3,500,000 |
Investment_Securities_Availabl2
Investment Securities Available for Sale and Investment Securities Held to Maturity - Adjusted cost and fair value of securities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | $8,924,738 | $8,309,104 |
Available-for-sale Securities, Gross Unrealized Gain | 109,438 | 111,684 |
Available-for-sale Securities, Gross Unrealized Losses | 61,939 | 107,703 |
Total Investment Securities Available for Sale | 8,972,237 | 8,313,085 |
Held-to-maturity Securities, Amortized Cost Basis | 1,448,192 | 1,519,196 |
Held-to-maturity Securities, Gross Unrealized Gain | 19,634 | 37,890 |
Held-to-maturity Securities, Gross Unrealized Losses | 111,027 | 151,828 |
Total Investments Securities Held to Maturity | 1,356,799 | 1,405,258 |
US Treasury and other US Government Agencies | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 570,472 | 257,844 |
Available-for-sale Securities, Gross Unrealized Gain | 4,332 | 4,338 |
Available-for-sale Securities, Gross Unrealized Losses | 3,772 | 1,245 |
Total Investment Securities Available for Sale | 571,032 | 260,937 |
Mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 4,983,938 | 5,232,504 |
Available-for-sale Securities, Gross Unrealized Gain | 72,018 | 75,912 |
Available-for-sale Securities, Gross Unrealized Losses | 48,475 | 74,625 |
Total Investment Securities Available for Sale | 5,007,481 | 5,233,791 |
Collateralized mortgage obligations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 2,337,928 | 1,747,450 |
Available-for-sale Securities, Gross Unrealized Gain | 23,891 | 23,312 |
Available-for-sale Securities, Gross Unrealized Losses | 4,194 | 14,364 |
Total Investment Securities Available for Sale | 2,357,625 | 1,756,398 |
Held-to-maturity Securities, Amortized Cost Basis | 136,166 | 145,989 |
Held-to-maturity Securities, Gross Unrealized Gain | 6,998 | 19,848 |
Held-to-maturity Securities, Gross Unrealized Losses | 5,191 | 3,900 |
Total Investments Securities Held to Maturity | 137,973 | 161,937 |
State and political subdivisions | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 494,507 | 518,755 |
Available-for-sale Securities, Gross Unrealized Gain | 8,957 | 8,041 |
Available-for-sale Securities, Gross Unrealized Losses | 5,474 | 17,360 |
Total Investment Securities Available for Sale | 497,990 | 509,436 |
Held-to-maturity Securities, Amortized Cost Basis | 1,180,162 | 1,225,977 |
Held-to-maturity Securities, Gross Unrealized Gain | 1,635 | 843 |
Held-to-maturity Securities, Gross Unrealized Losses | 100,040 | 139,816 |
Total Investments Securities Held to Maturity | 1,081,757 | 1,087,004 |
Other | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 36,939 | 40,415 |
Available-for-sale Securities, Gross Unrealized Gain | 179 | 27 |
Available-for-sale Securities, Gross Unrealized Losses | 24 | 109 |
Total Investment Securities Available for Sale | 37,094 | 40,333 |
Held-to-maturity Securities, Amortized Cost Basis | 77,048 | 79,640 |
Held-to-maturity Securities, Gross Unrealized Gain | 6,891 | 13,191 |
Held-to-maturity Securities, Gross Unrealized Losses | 2,114 | 1,929 |
Total Investments Securities Held to Maturity | 81,825 | 90,902 |
Equity securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 500,954 | 512,136 |
Available-for-sale Securities, Gross Unrealized Gain | 61 | 54 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Total Investment Securities Available for Sale | 501,015 | 512,190 |
Asset-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Held-to-maturity Securities, Amortized Cost Basis | 54,816 | 67,590 |
Held-to-maturity Securities, Gross Unrealized Gain | 4,110 | 4,008 |
Held-to-maturity Securities, Gross Unrealized Losses | 3,682 | 6,183 |
Total Investments Securities Held to Maturity | $55,244 | $65,415 |
Investment_Securities_Availabl3
Investment Securities Available for Sale and Investment Securities Held to Maturity - Fair value and unrealized losses of available for sale securities and held to maturity securities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, securities in a loss position for less than 12 months, fair value | $801,134 | $3,451,797 |
Available-for-sale securities, securities in a loss position for less than 12 months, unrealized losses | 5,887 | 89,640 |
Available-for-sale securities, securities in a loss position for 12 months or longer, fair value | 2,609,417 | 540,565 |
Available-for-sale securities, Securities in a loss position for 12 months or longer, unrealized losses | 56,052 | 18,063 |
Available-for-sale securities, fair value | 3,410,551 | 3,992,362 |
Available-for-sale securities, unrealized losses | 61,939 | 107,703 |
Held-to-maturity securities, securities in a loss position for less than 12 months, fair value | 31,313 | 314,904 |
Held-to-maturity securities, securities in a loss position for less than 12 months, unrealized losses | 787 | 26,777 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, fair value | 943,894 | 713,131 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, unrealized losses | 110,240 | 125,051 |
Held-to-maturity securities, fair value | 975,207 | 1,028,035 |
Held-to-maturity securities unrealized losses | 111,027 | 151,828 |
US Treasury and government agency | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, securities in a loss position for less than 12 months, fair value | 337,358 | 119,871 |
Available-for-sale securities, securities in a loss position for less than 12 months, unrealized losses | 3,772 | 1,245 |
Available-for-sale securities, securities in a loss position for 12 months or longer, fair value | 0 | 0 |
Available-for-sale securities, Securities in a loss position for 12 months or longer, unrealized losses | 0 | 0 |
Available-for-sale securities, fair value | 337,358 | 119,871 |
Available-for-sale securities, unrealized losses | 3,772 | 1,245 |
Mortgage backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, securities in a loss position for less than 12 months, fair value | 107,404 | 2,462,822 |
Available-for-sale securities, securities in a loss position for less than 12 months, unrealized losses | 1,027 | 69,919 |
Available-for-sale securities, securities in a loss position for 12 months or longer, fair value | 2,236,173 | 339,448 |
Available-for-sale securities, Securities in a loss position for 12 months or longer, unrealized losses | 47,448 | 4,706 |
Available-for-sale securities, fair value | 2,343,577 | 2,802,270 |
Available-for-sale securities, unrealized losses | 48,475 | 74,625 |
Asset-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Held-to-maturity securities, securities in a loss position for less than 12 months, fair value | 0 | 0 |
Held-to-maturity securities, securities in a loss position for less than 12 months, unrealized losses | 0 | 0 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, fair value | 26,549 | 33,362 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, unrealized losses | 3,682 | 6,183 |
Held-to-maturity securities, fair value | 26,549 | 33,362 |
Held-to-maturity securities unrealized losses | 3,682 | 6,183 |
Collateralized mortgage obligations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, securities in a loss position for less than 12 months, fair value | 331,462 | 699,693 |
Available-for-sale securities, securities in a loss position for less than 12 months, unrealized losses | 947 | 9,123 |
Available-for-sale securities, securities in a loss position for 12 months or longer, fair value | 174,054 | 108,710 |
Available-for-sale securities, Securities in a loss position for 12 months or longer, unrealized losses | 3,247 | 5,241 |
Available-for-sale securities, fair value | 505,516 | 808,403 |
Available-for-sale securities, unrealized losses | 4,194 | 14,364 |
Held-to-maturity securities, securities in a loss position for less than 12 months, fair value | 28,987 | 1,466 |
Held-to-maturity securities, securities in a loss position for less than 12 months, unrealized losses | 695 | 17 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, fair value | 29,456 | 32,370 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, unrealized losses | 4,496 | 3,883 |
Held-to-maturity securities, fair value | 58,443 | 33,836 |
Held-to-maturity securities unrealized losses | 5,191 | 3,900 |
State and political subdivisions | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, securities in a loss position for less than 12 months, fair value | 24,910 | 164,472 |
Available-for-sale securities, securities in a loss position for less than 12 months, unrealized losses | 141 | 9,244 |
Available-for-sale securities, securities in a loss position for 12 months or longer, fair value | 198,092 | 92,407 |
Available-for-sale securities, Securities in a loss position for 12 months or longer, unrealized losses | 5,333 | 8,116 |
Available-for-sale securities, fair value | 223,002 | 256,879 |
Available-for-sale securities, unrealized losses | 5,474 | 17,360 |
Held-to-maturity securities, securities in a loss position for less than 12 months, fair value | 2,326 | 313,438 |
Held-to-maturity securities, securities in a loss position for less than 12 months, unrealized losses | 92 | 26,760 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, fair value | 883,818 | 642,799 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, unrealized losses | 99,948 | 113,056 |
Held-to-maturity securities, fair value | 886,144 | 956,237 |
Held-to-maturity securities unrealized losses | 100,040 | 139,816 |
Other | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, securities in a loss position for less than 12 months, fair value | 0 | 4,939 |
Available-for-sale securities, securities in a loss position for less than 12 months, unrealized losses | 0 | 109 |
Available-for-sale securities, securities in a loss position for 12 months or longer, fair value | 1,098 | 0 |
Available-for-sale securities, Securities in a loss position for 12 months or longer, unrealized losses | 24 | 0 |
Available-for-sale securities, fair value | 1,098 | 4,939 |
Available-for-sale securities, unrealized losses | 24 | 109 |
Held-to-maturity securities, securities in a loss position for less than 12 months, fair value | 0 | 0 |
Held-to-maturity securities, securities in a loss position for less than 12 months, unrealized losses | 0 | 0 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, fair value | 4,071 | 4,600 |
Held-to-maturity securities, securities in a loss position for 12 months or longer, unrealized losses | 2,114 | 1,929 |
Held-to-maturity securities, fair value | 4,071 | 4,600 |
Held-to-maturity securities unrealized losses | $2,114 | $1,929 |
Investment_Securities_Availabl4
Investment Securities Available for Sale and Investment Securities Held to Maturity - Other temporary impairments losses recognized in other comprehensive income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ' | ' | ' | ' |
Other than temporary impairment recognized in other comprehensive income, beginning of period | $21,089 | $17,318 | $20,943 | $17,318 |
Reductions for securities paid off during the period (realized) | 0 | -239 | 0 | -239 |
Additions for the credit component on debt securities in which OTTI was not previously recognized | 0 | 0 | 0 | 0 |
Additions for the credit component on debt securities in which OTTI was previously recognized | 34 | 462 | 180 | 462 |
Other than temporary impairment recognized in other comprehensive income, end of period | $21,123 | $17,541 | $21,123 | $17,541 |
Investment_Securities_Availabl5
Investment Securities Available for Sale and Investment Securities Held to Maturity - Maturities of securities portfolios (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment securities available for sale, amortized cost [Abstract] | ' | ' |
Maturing within one year | $51,171 | ' |
Maturing after one but within five years | 103,113 | ' |
Maturing after five both within ten years | 176,007 | ' |
Maturing after ten years | 771,627 | ' |
Total single date maturities | 1,101,918 | ' |
Mortgage-backed securities and collateralized mortgage obligations | 7,321,866 | ' |
Available-for-sale Securities, Amortized Cost Basis | 8,924,738 | 8,309,104 |
Investment securities available for sale, fair value [Abstract] | ' | ' |
Maturing within one year | 52,280 | ' |
Maturing after one but within five years | 107,335 | ' |
Maturing after five but within ten years | 179,619 | ' |
Maturing after ten years | 766,882 | ' |
Total single date maturities | 1,106,116 | ' |
Mortgage-backed securities and collateralized mortgage obligations | 7,365,106 | ' |
Investment securities available for sale | 8,972,237 | 8,313,085 |
Held-to-maturity securities, amortized cost [Abstract] | ' | ' |
Maturing within one year | 30,013 | ' |
Maturing after one but within five years | 290,161 | ' |
Maturing after five but within ten years | 234,765 | ' |
Maturing after ten years | 757,087 | ' |
Total single date maturities | 1,312,026 | ' |
Collateralized mortgage obligations | 136,166 | ' |
Total | 1,448,192 | 1,519,196 |
Held-to-maturity securities, fair value [Abstract] | ' | ' |
Maturing within one year | 29,674 | ' |
Maturing after one but within five years | 274,065 | ' |
Maturing after five but within ten years | 224,153 | ' |
Maturing after ten years | 690,934 | ' |
Total single date maturities | 1,218,826 | ' |
Collateralized mortgage obligations | 137,973 | ' |
Total Investments Securities Held to Maturity | 1,356,799 | 1,405,258 |
Equity securities | ' | ' |
Investment securities available for sale, amortized cost [Abstract] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 500,954 | 512,136 |
Investment securities available for sale, fair value [Abstract] | ' | ' |
Investment securities available for sale | $501,015 | $512,190 |
Investment_Securities_Availabl6
Investment Securities Available for Sale and Investment Securities Held to Maturity - Gross Realized Gains and Losses (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' |
Gross gains | $21,464 | $18,075 | $37,898 | $33,030 |
Gross losses | 0 | 0 | 0 | 0 |
Net realized gains | $21,464 | $18,075 | $37,898 | $33,030 |
Investment_Securities_Availabl7
Investment Securities Available for Sale and Investment Securities Held to Maturity - Narrative (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' | ' |
Federal home loan bank and federal reserve stock carried at par value | $501,000,000 | ' | $501,000,000 | ' | $512,000,000 |
Securities impairment | $34,000 | $462,000 | $180,000 | $462,000 | ' |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Composition of loan portfolio (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial loans: | ' | ' |
Commercial, financial and agricultural | $22,365,829 | $20,209,209 |
Real estate – construction | 1,792,180 | 1,736,348 |
Commercial real estate – mortgage | 9,461,092 | 9,106,329 |
Total commercial loans | 33,619,101 | 31,051,886 |
Consumer loans: | ' | ' |
Residential real estate – mortgage | 13,356,040 | 12,706,879 |
Equity lines of credit | 2,238,451 | 2,236,367 |
Equity loans | 609,794 | 644,068 |
Credit card | 636,904 | 660,073 |
Consumer – direct | 563,949 | 516,572 |
Consumer – indirect | 2,448,402 | 2,116,981 |
Total consumer loans | 19,853,540 | 18,880,940 |
Covered loans | 613,152 | 734,190 |
Total loans | $54,085,793 | $50,667,016 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Purchased Impaired Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Unpaid principal balance | $414,652 | $449,429 |
Discount | -33,216 | -60,069 |
Allowance for loan losses | -8,161 | -243 |
Carrying value | $373,275 | $389,117 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Accretable yields on purchased impaired loans (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' |
Balance, beginning of period | $105,698 | $136,992 |
Transfer (to) from nonaccretable difference | 6,633 | 25,362 |
Accretion | -29,405 | -34,547 |
Other | 0 | 2,370 |
Balance, end of period | $82,926 | $130,177 |
Loans_and_Allowances_for_Loan_
Loans and Allowances for Loan Losses - Purchased Nonimpaired Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Unpaid principal balance | $368,036 | $520,723 |
Discount | -136,320 | -175,893 |
Allowance for loan losses | -3,390 | -2,711 |
Carrying value | $228,326 | $342,119 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Recorded investment in all purchased impaired and purchased nonimpaired loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Purchased Impaired Loans | $381,436 | $389,360 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 231,716 | 344,830 | ||
Total Covered Loans | 613,152 | 734,190 | ||
Commercial, financial and agricultural | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Purchased Impaired Loans | 0 | 0 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 45,712 | 40,892 | ||
Total Covered Loans | 45,712 | 40,892 | ||
Commercial real estate | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Purchased Impaired Loans | 3,358 | [1] | 4,760 | [1] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 34,831 | [1] | 141,333 | [1] |
Total Covered Loans | 38,189 | [1] | 146,093 | [1] |
Residential real estate - mortgage | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Purchased Impaired Loans | 378,078 | [2] | 384,588 | [2] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 144,591 | [2] | 155,452 | [2] |
Total Covered Loans | 522,669 | [2] | 540,040 | [2] |
Consumer loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Purchased Impaired Loans | 0 | 12 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 6,582 | 7,153 | ||
Total Covered Loans | $6,582 | $7,165 | ||
[1] | Includes real estate – construction and commercial real estate - mortgage. | |||
[2] | Includes residential real estate – mortgage, equity lines of credit and equity loans |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - FDIC Indemnification Asset (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
FDIC Indemnification Asset [Roll Forward] | ' | ' |
Beginning balance | $24,315 | $271,928 |
Increase (decrease) due to credit loss provision (benefit) recorded on FDIC covered loans | 8,726 | -6,616 |
Amortization | -67,212 | -149,033 |
Payments to FDIC for covered losses | 6,611 | 17,840 |
Other | -3,502 | -993 |
Ending balance | ($31,062) | $133,126 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Allowances for loan losses activity (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' | |||||
Allowance for loan losses, covered, beginning of period | $8,065 | $12,074 | $2,954 | $17,803 | ' | |||||
Allowance for loan losses, total loans, beginning of period | 707,665 | 786,018 | 700,719 | 802,853 | ' | |||||
Provision charged to income, covered | -194 | -2,437 | 4,791 | -7,687 | ' | |||||
Provision charged to income, total loans | 45,252 | 24,237 | 82,518 | 43,852 | ' | |||||
Loans charged off, covered | -791 | -2,156 | -1,007 | -3,425 | ' | |||||
Loans charged off, total loans | -58,143 | -106,332 | -103,351 | -161,742 | ' | |||||
Loan recoveries, covered | 4,471 | 734 | 4,813 | 1,524 | ' | |||||
Loan recoveries, total loans | 19,986 | 19,588 | 34,874 | 38,548 | ' | |||||
Net charge offs, covered | 3,680 | -1,422 | 3,806 | -1,901 | ' | |||||
Net charge offs, total loans | -38,157 | -86,744 | -68,477 | -123,194 | ' | |||||
Allowance for loan losses, covered, end of period | 11,551 | 8,215 | 11,551 | 8,215 | ' | |||||
Allowance for loan losses, total loans, end of period | 714,760 | 723,511 | 714,760 | 723,511 | ' | |||||
Ending Balance of Allowance Attributable to Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 66,604 | ' | 66,604 | ' | 81,751 | |||||
Collectively evaluated for impairment | 636,605 | ' | 636,605 | ' | 616,014 | |||||
Covered purchased impaired | 8,161 | ' | 8,161 | ' | 243 | |||||
Covered purchased nonimpaired | 3,390 | ' | 3,390 | ' | 2,711 | |||||
Ending Balance of Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 378,522 | ' | 378,522 | ' | 503,993 | |||||
Collectively evaluated for impairment | 53,094,119 | ' | 53,094,119 | ' | 49,428,833 | |||||
Purchased Impaired Loans | 381,436 | ' | 381,436 | ' | 389,360 | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 231,716 | ' | 231,716 | ' | 344,830 | |||||
Covered loans | 613,152 | ' | 613,152 | ' | 734,190 | |||||
Total loans | 54,085,793 | ' | 54,085,793 | ' | 50,667,016 | |||||
Commercial, financial and agricultural | ' | ' | ' | ' | ' | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' | |||||
Allowance for loan losses, beginning of period | 299,879 | 304,841 | 292,327 | 283,058 | ' | |||||
Provision charged to income | 29,495 | -2,431 | 36,996 | 20,477 | ' | |||||
Loans charged off | -15,517 | -16,889 | -20,451 | -23,211 | ' | |||||
Loan recoveries | 3,933 | 4,667 | 8,918 | 9,864 | ' | |||||
Net charge offs | -11,584 | -12,222 | -11,533 | -13,347 | ' | |||||
Allowance for loan losses, end of period | 317,790 | 290,188 | 317,790 | 290,188 | ' | |||||
Ending Balance of Allowance Attributable to Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 19,106 | ' | 19,106 | ' | 28,828 | |||||
Collectively evaluated for impairment | 298,684 | ' | 298,684 | ' | 263,499 | |||||
Ending Balance of Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 67,159 | ' | 67,159 | ' | 138,047 | |||||
Collectively evaluated for impairment | 22,298,670 | ' | 22,298,670 | ' | 20,071,162 | |||||
Purchased Impaired Loans | 0 | ' | 0 | ' | 0 | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 45,712 | ' | 45,712 | ' | 40,892 | |||||
Total loans, excluding covered loans | 22,365,829 | ' | 22,365,829 | ' | 20,209,209 | |||||
Covered loans | 45,712 | ' | 45,712 | ' | 40,892 | |||||
Commercial real estate | ' | ' | ' | ' | ' | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' | |||||
Allowance for loan losses, beginning of period | 153,130 | [1] | 227,370 | [1] | 158,960 | [1] | 254,324 | [1] | ' | |
Provision charged to income | -5,057 | [1] | -30,585 | [1] | -9,779 | [1] | -56,414 | [1] | ' | |
Loans charged off | -7,305 | [1] | -21,125 | [1] | -9,951 | [1] | -27,743 | [1] | ' | |
Loan recoveries | 2,173 | [1] | 6,953 | [1] | 3,711 | [1] | 12,446 | [1] | ' | |
Net charge offs | -5,132 | [1] | -14,172 | [1] | -6,240 | [1] | -15,297 | [1] | ' | |
Allowance for loan losses, end of period | 142,941 | [1] | 182,613 | [1] | 142,941 | [1] | 182,613 | [1] | ' | |
Ending Balance of Allowance Attributable to Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 6,617 | [1] | ' | 6,617 | [1] | ' | 9,408 | [1] | ||
Collectively evaluated for impairment | 136,324 | [1] | ' | 136,324 | [1] | ' | 149,552 | [1] | ||
Ending Balance of Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 119,667 | [1] | ' | 119,667 | [1] | ' | 167,598 | [1] | ||
Collectively evaluated for impairment | 11,133,605 | [1] | ' | 11,133,605 | [1] | ' | 10,675,079 | [1] | ||
Purchased Impaired Loans | 3,358 | [2] | ' | 3,358 | [2] | ' | 4,760 | [2] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 34,831 | [2] | ' | 34,831 | [2] | ' | 141,333 | [2] | ||
Total loans, excluding covered loans | 11,253,272 | [1] | ' | 11,253,272 | [1] | ' | 10,842,677 | [1] | ||
Covered loans | 38,189 | [2] | ' | 38,189 | [2] | ' | 146,093 | [2] | ||
Residential real estate | ' | ' | ' | ' | ' | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' | |||||
Allowance for loan losses, beginning of period | 155,234 | [3] | 164,402 | [3] | 155,575 | [3] | 172,265 | [3] | ' | |
Provision charged to income | 8,039 | [3] | 40,883 | [3] | 20,712 | [3] | 53,847 | [3] | ' | |
Loans charged off | -13,861 | [3] | -49,313 | [3] | -29,569 | [3] | -72,293 | [3] | ' | |
Loan recoveries | 4,282 | [3] | 2,821 | [3] | 6,976 | [3] | 4,974 | [3] | ' | |
Net charge offs | -9,579 | [3] | -46,492 | [3] | -22,593 | [3] | -67,319 | [3] | ' | |
Allowance for loan losses, end of period | 153,694 | [3] | 158,793 | [3] | 153,694 | [3] | 158,793 | [3] | ' | |
Ending Balance of Allowance Attributable to Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 39,693 | [3] | ' | 39,693 | [3] | ' | 41,989 | [3] | ||
Collectively evaluated for impairment | 114,001 | [3] | ' | 114,001 | [3] | ' | 113,586 | [3] | ||
Ending Balance of Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 190,224 | [3] | ' | 190,224 | [3] | ' | 196,723 | [3] | ||
Collectively evaluated for impairment | 16,014,061 | [3] | ' | 16,014,061 | [3] | ' | 15,390,591 | [3] | ||
Purchased Impaired Loans | 378,078 | [4] | ' | 378,078 | [4] | ' | 384,588 | [4] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 144,591 | [4] | ' | 144,591 | [4] | ' | 155,452 | [4] | ||
Total loans, excluding covered loans | 16,204,285 | [3] | ' | 16,204,285 | [3] | ' | 15,587,314 | [3] | ||
Covered loans | 522,669 | [4] | ' | 522,669 | [4] | ' | 540,040 | [4] | ||
Consumer loans | ' | ' | ' | ' | ' | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' | |||||
Allowance for loan losses, beginning of period | 91,357 | [5] | 77,331 | [5] | 90,903 | [5] | 75,403 | [5] | ' | |
Provision charged to income | 12,969 | [5] | 18,807 | [5] | 29,798 | [5] | 33,629 | [5] | ' | |
Loans charged off | -20,669 | [5] | -16,849 | [5] | -42,373 | [5] | -35,070 | [5] | ' | |
Loan recoveries | 5,127 | [5] | 4,413 | [5] | 10,456 | [5] | 9,740 | [5] | ' | |
Net charge offs | -15,542 | [5] | -12,436 | [5] | -31,917 | [5] | -25,330 | [5] | ' | |
Allowance for loan losses, end of period | 88,784 | [5] | 83,702 | [5] | 88,784 | [5] | 83,702 | [5] | ' | |
Ending Balance of Allowance Attributable to Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 1,188 | [5] | ' | 1,188 | [5] | ' | 1,526 | [5] | ||
Collectively evaluated for impairment | 87,596 | [5] | ' | 87,596 | [5] | ' | 89,377 | [5] | ||
Ending Balance of Loans [Abstract] | ' | ' | ' | ' | ' | |||||
Individually evaluated for impairment | 1,472 | [5] | ' | 1,472 | [5] | ' | 1,625 | [5] | ||
Collectively evaluated for impairment | 3,647,783 | [5] | ' | 3,647,783 | [5] | ' | 3,292,001 | [5] | ||
Purchased Impaired Loans | 0 | ' | 0 | ' | 12 | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Elected to be Accounted for as Acquired with Deteriorated Quality, Recorded Investment | 6,582 | ' | 6,582 | ' | 7,153 | |||||
Total loans, excluding covered loans | 3,649,255 | [5] | ' | 3,649,255 | [5] | ' | 3,293,626 | [5] | ||
Covered loans | $6,582 | ' | $6,582 | ' | $7,165 | |||||
[1] | Includes commercial real estate – mortgage and real estate – construction loans. | |||||||||
[2] | Includes real estate – construction and commercial real estate - mortgage. | |||||||||
[3] | Includes residential real estate – mortgage, equity lines of credit and equity loans. | |||||||||
[4] | Includes residential real estate – mortgage, equity lines of credit and equity loans | |||||||||
[5] | Includes credit card, consumer – direct and consumer – indirect loans. |
Loans_and_Allowances_for_Loan_1
Loans and Allowances for Loan Losses - Impaired loans by loan class (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | $40,450 | ' | $40,450 | ' | $74,507 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 42,320 | ' | 42,320 | ' | 85,921 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 338,072 | ' | 338,072 | ' | 429,486 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 365,517 | ' | 365,517 | ' | 458,254 |
Individually analyzed impaired loans with a recorded allowance, allowance | 66,604 | ' | 66,604 | ' | 81,751 |
Total individually analyzed impaired loans, average recorded investment | 407,984 | 620,130 | 440,545 | 636,468 | ' |
Total individually analyzed impaired loans, interest income recognized | 2,845 | 3,110 | 5,491 | 6,271 | ' |
Commercial, financial and agricultural | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 0 | ' | 0 | ' | 19,984 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 0 | ' | 0 | ' | 27,639 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 67,159 | ' | 67,159 | ' | 118,063 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 87,507 | ' | 87,507 | ' | 138,092 |
Individually analyzed impaired loans with a recorded allowance, allowance | 19,106 | ' | 19,106 | ' | 28,828 |
Total individually analyzed impaired loans, average recorded investment | 88,271 | 122,441 | 107,546 | 117,045 | ' |
Total individually analyzed impaired loans, interest income recognized | 543 | 365 | 788 | 721 | ' |
Real estate - construction | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 5,785 | ' | 5,785 | ' | 1,314 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 6,582 | ' | 6,582 | ' | 1,555 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 3,606 | ' | 3,606 | ' | 9,248 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 4,148 | ' | 4,148 | ' | 10,812 |
Individually analyzed impaired loans with a recorded allowance, allowance | 602 | ' | 602 | ' | 836 |
Total individually analyzed impaired loans, average recorded investment | 9,088 | 60,890 | 9,604 | 85,871 | ' |
Total individually analyzed impaired loans, interest income recognized | 56 | 152 | 119 | 543 | ' |
Commercial real estate - mortgage | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 24,402 | ' | 24,402 | ' | 51,303 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 25,475 | ' | 25,475 | ' | 54,821 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 85,874 | ' | 85,874 | ' | 105,733 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 91,822 | ' | 91,822 | ' | 112,177 |
Individually analyzed impaired loans with a recorded allowance, allowance | 6,015 | ' | 6,015 | ' | 8,572 |
Total individually analyzed impaired loans, average recorded investment | 117,404 | 235,445 | 129,376 | 235,279 | ' |
Total individually analyzed impaired loans, interest income recognized | 835 | 1,205 | 1,777 | 2,259 | ' |
Residential real estate - mortgage | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 10,263 | ' | 10,263 | ' | 1,906 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 10,263 | ' | 10,263 | ' | 1,906 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 100,764 | ' | 100,764 | ' | 115,550 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 100,951 | ' | 100,951 | ' | 115,734 |
Individually analyzed impaired loans with a recorded allowance, allowance | 6,275 | ' | 6,275 | ' | 7,378 |
Total individually analyzed impaired loans, average recorded investment | 112,862 | 147,453 | 113,913 | 158,930 | ' |
Total individually analyzed impaired loans, interest income recognized | 725 | 855 | 1,444 | 1,937 | ' |
Equity lines of credit | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 23,908 | ' | 23,908 | ' | 23,593 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 24,100 | ' | 24,100 | ' | 24,021 |
Individually analyzed impaired loans with a recorded allowance, allowance | 23,152 | ' | 23,152 | ' | 23,190 |
Total individually analyzed impaired loans, average recorded investment | 23,511 | 7,746 | 23,457 | 3,873 | ' |
Total individually analyzed impaired loans, interest income recognized | 255 | 81 | 505 | 81 | ' |
Equity loans | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 55,289 | ' | 55,289 | ' | 55,674 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 55,517 | ' | 55,517 | ' | 55,794 |
Individually analyzed impaired loans with a recorded allowance, allowance | 10,266 | ' | 10,266 | ' | 11,421 |
Total individually analyzed impaired loans, average recorded investment | 55,399 | 45,324 | 55,213 | 34,989 | ' |
Total individually analyzed impaired loans, interest income recognized | 429 | 438 | 854 | 691 | ' |
Credit card | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with a recorded allowance, allowance | 0 | ' | 0 | ' | 0 |
Total individually analyzed impaired loans, average recorded investment | 0 | 0 | 0 | 0 | ' |
Total individually analyzed impaired loans, interest income recognized | 0 | 0 | 0 | 0 | ' |
Consumer - direct | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 134 | ' | 134 | ' | 182 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 134 | ' | 134 | ' | 181 |
Individually analyzed impaired loans with a recorded allowance, allowance | 69 | ' | 69 | ' | 83 |
Total individually analyzed impaired loans, average recorded investment | 140 | 163 | 149 | 147 | ' |
Total individually analyzed impaired loans, interest income recognized | 1 | 3 | 2 | 28 | ' |
Consumer - indirect | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Individually analyzed impaired loans with no recorded allowance, recorded investment | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with no recorded allowance, unpaid principle balance | 0 | ' | 0 | ' | 0 |
Individually analyzed impaired loans with a recorded allowance, recorded investment | 1,338 | ' | 1,338 | ' | 1,443 |
Individually analyzed impaired loans with a recorded allowance, unpaid principle balance | 1,338 | ' | 1,338 | ' | 1,443 |
Individually analyzed impaired loans with a recorded allowance, allowance | 1,119 | ' | 1,119 | ' | 1,443 |
Total individually analyzed impaired loans, average recorded investment | 1,309 | 668 | 1,287 | 334 | ' |
Total individually analyzed impaired loans, interest income recognized | $1 | $11 | $2 | $11 | ' |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Credit quality indicators (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Purchased Impaired Loans | $381,436 | $389,360 |
Commercial, financial and agricultural | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Purchased Impaired Loans | 0 | 0 |
Total loans, excluding covered loans | 22,365,829 | 20,209,209 |
Real estate - construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 1,792,180 | 1,736,348 |
Commercial real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 9,461,092 | 9,106,329 |
Residential real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 13,356,040 | 12,706,879 |
Equity lines of credit | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 2,238,451 | 2,236,367 |
Equity loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 609,794 | 644,068 |
Credit card | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 636,904 | 660,073 |
Consumer - direct | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 563,949 | 516,572 |
Consumer - indirect | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 2,448,402 | 2,116,981 |
Pass | Commercial, financial and agricultural | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 21,837,384 | 19,582,014 |
Pass | Real estate - construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 1,769,475 | 1,707,719 |
Pass | Commercial real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 9,033,078 | 8,562,261 |
Special Mention | Commercial, financial and agricultural | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 246,367 | 353,638 |
Special Mention | Real estate - construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 12,153 | 9,918 |
Special Mention | Commercial real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 225,927 | 271,500 |
Substandard | Commercial, financial and agricultural | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 249,058 | 261,995 |
Substandard | Real estate - construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 9,342 | 17,112 |
Substandard | Commercial real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 176,936 | 243,042 |
Doubtful | Commercial, financial and agricultural | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 33,020 | 11,562 |
Doubtful | Real estate - construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 1,210 | 1,599 |
Doubtful | Commercial real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 25,151 | 29,526 |
Performing | Residential real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 13,243,361 | 12,601,515 |
Performing | Equity lines of credit | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 2,200,855 | 2,199,827 |
Performing | Equity loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 589,225 | 621,897 |
Performing | Credit card | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 628,167 | 649,796 |
Performing | Consumer - direct | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 561,473 | 513,630 |
Performing | Consumer - indirect | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 2,445,560 | 2,113,918 |
Nonperforming | Residential real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 112,679 | 105,364 |
Nonperforming | Equity lines of credit | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 37,596 | 36,540 |
Nonperforming | Equity loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 20,569 | 22,171 |
Nonperforming | Credit card | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 8,737 | 10,277 |
Nonperforming | Consumer - direct | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | 2,476 | 2,942 |
Nonperforming | Consumer - indirect | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans, excluding covered loans | $2,842 | $3,063 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Past due loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due, Covered | $2,410 | $1,247 |
60 - 89 Days Past Due, Covered | 152 | 290 |
90 Days or More Past Due, Covered | 4,590 | 4,122 |
Nonaccrual, Covered | 4,153 | 5,425 |
Accruing TDRs, Covered | 3,832 | 3,455 |
Total Past Due and Impaired, Covered | 15,137 | 14,539 |
Not Past Due or Impaired, Covered | 216,579 | 330,291 |
Total, Covered | 231,716 | 344,830 |
30 - 59 Days Past Due, Total Loans | 114,781 | 132,604 |
60 - 89 Days Past Due, Total Loans | 39,987 | 58,135 |
90 Days or More Past Due, Total Loans | 25,631 | 30,326 |
Nonaccrual, Total Loans | 341,807 | 434,356 |
Accruing TDRs, Total Loans | 178,259 | 209,708 |
Total Past Due and Impaired, Total Loans | 700,465 | 865,129 |
Not Past Due or Impaired, Total Loans | 53,003,892 | 49,412,527 |
Total Loans | 53,704,357 | 50,277,656 |
Commercial, financial and agricultural | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 8,399 | 9,485 |
60 - 89 Days Past Due | 3,520 | 6,111 |
90 Days or More Past Due | 2,311 | 2,212 |
Nonaccrual | 72,606 | 128,231 |
Accruing TDRs | 10,491 | 25,548 |
Total Past Due and Impaired | 97,327 | 171,587 |
Not Past Due or Impaired | 22,268,502 | 20,037,622 |
Total | 22,365,829 | 20,209,209 |
Real estate - construction | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 923 | 4,258 |
60 - 89 Days Past Due | 418 | 1,862 |
90 Days or More Past Due | 1,138 | 240 |
Nonaccrual | 9,401 | 14,183 |
Accruing TDRs | 2,244 | 3,801 |
Total Past Due and Impaired | 14,124 | 24,344 |
Not Past Due or Impaired | 1,778,056 | 1,712,004 |
Total | 1,792,180 | 1,736,348 |
Commercial real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 5,675 | 9,521 |
60 - 89 Days Past Due | 3,358 | 4,869 |
90 Days or More Past Due | 221 | 797 |
Nonaccrual | 88,554 | 129,672 |
Accruing TDRs | 45,836 | 59,727 |
Total Past Due and Impaired | 143,644 | 204,586 |
Not Past Due or Impaired | 9,317,448 | 8,901,743 |
Total | 9,461,092 | 9,106,329 |
Residential real estate - mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 43,219 | 48,597 |
60 - 89 Days Past Due | 15,305 | 22,629 |
90 Days or More Past Due | 2,332 | 2,460 |
Nonaccrual | 110,077 | 102,904 |
Accruing TDRs | 73,329 | 74,236 |
Total Past Due and Impaired | 244,262 | 250,826 |
Not Past Due or Impaired | 13,111,778 | 12,456,053 |
Total | 13,356,040 | 12,706,879 |
Equity lines of credit | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 9,113 | 12,230 |
60 - 89 Days Past Due | 4,776 | 6,252 |
90 Days or More Past Due | 2,044 | 5,109 |
Nonaccrual | 35,552 | 31,431 |
Accruing TDRs | 0 | 0 |
Total Past Due and Impaired | 51,485 | 55,022 |
Not Past Due or Impaired | 2,186,966 | 2,181,345 |
Total | 2,238,451 | 2,236,367 |
Equity loans | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 6,364 | 7,630 |
60 - 89 Days Past Due | 2,666 | 3,170 |
90 Days or More Past Due | 833 | 1,167 |
Nonaccrual | 19,571 | 20,447 |
Accruing TDRs | 42,460 | 42,850 |
Total Past Due and Impaired | 71,894 | 75,264 |
Not Past Due or Impaired | 537,900 | 568,804 |
Total | 609,794 | 644,068 |
Credit card | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 5,186 | 5,955 |
60 - 89 Days Past Due | 3,766 | 4,676 |
90 Days or More Past Due | 8,737 | 10,277 |
Nonaccrual | 0 | 0 |
Accruing TDRs | 0 | 0 |
Total Past Due and Impaired | 17,689 | 20,908 |
Not Past Due or Impaired | 619,215 | 639,165 |
Total | 636,904 | 660,073 |
Consumer - direct | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 8,859 | 8,736 |
60 - 89 Days Past Due | 1,441 | 3,000 |
90 Days or More Past Due | 2,194 | 2,402 |
Nonaccrual | 282 | 540 |
Accruing TDRs | 67 | 91 |
Total Past Due and Impaired | 12,843 | 14,769 |
Not Past Due or Impaired | 551,106 | 501,803 |
Total | 563,949 | 516,572 |
Consumer - indirect | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 24,633 | 24,945 |
60 - 89 Days Past Due | 4,585 | 5,276 |
90 Days or More Past Due | 1,231 | 1,540 |
Nonaccrual | 1,611 | 1,523 |
Accruing TDRs | 0 | 0 |
Total Past Due and Impaired | 32,060 | 33,284 |
Not Past Due or Impaired | 2,416,342 | 2,083,697 |
Total | $2,448,402 | $2,116,981 |
Loans_and_Allowance_for_Loans_
Loans and Allowance for Loans Losses - Troubled debt restructurings (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
30 - 59 Days Past Due, Covered | $0 | $21 |
60 - 89 Days Past Due, Covered | 3 | 0 |
90 Days or More Past Due, Covered | 0 | 0 |
Nonaccrual, Covered | 1,713 | 5,428 |
Total Past Due and Nonaccrual, Covered | 1,716 | 5,449 |
Not Past Due or Nonaccrual, Covered | 3,829 | 3,434 |
Total, Covered | 5,545 | 8,883 |
30 - 59 Days Past Due, Total Loans | 5,131 | 7,957 |
60 - 89 Days Past Due, Total Loans | 2,432 | 3,819 |
90 Days or More Past Due, Total Loans | 629 | 1,317 |
Nonaccrual, Total Loans | 84,813 | 109,457 |
Total Past Due and Nonaccrual, Total Loans | 93,005 | 122,550 |
Not Past Due or Nonaccrual, Total Loans | 170,067 | 196,615 |
Total Loans | 263,072 | 319,165 |
Commercial, financial and agricultural | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 5 |
60-89 Days Past Due | 0 | 0 |
90 Days or More Past Due | 194 | 0 |
Nonaccrual | 5,158 | 20,498 |
Total Past Due and Nonaccrual | 5,352 | 20,503 |
Not Past Due or Nonaccrual | 10,297 | 25,543 |
Total | 15,649 | 46,046 |
Real estate - construction | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 32 |
60-89 Days Past Due | 0 | 50 |
90 Days or More Past Due | 0 | 0 |
Nonaccrual | 183 | 181 |
Total Past Due and Nonaccrual | 183 | 263 |
Not Past Due or Nonaccrual | 2,244 | 3,719 |
Total | 2,427 | 3,982 |
Commercial real estate - mortgage | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 186 | 2,345 |
60-89 Days Past Due | 0 | 0 |
90 Days or More Past Due | 0 | 0 |
Nonaccrual | 11,933 | 13,910 |
Total Past Due and Nonaccrual | 12,119 | 16,255 |
Not Past Due or Nonaccrual | 45,650 | 57,382 |
Total | 57,769 | 73,637 |
Residential real estate - mortgage | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 3,520 | 3,755 |
60-89 Days Past Due | 1,028 | 2,747 |
90 Days or More Past Due | 270 | 760 |
Nonaccrual | 27,436 | 30,492 |
Total Past Due and Nonaccrual | 32,254 | 37,754 |
Not Past Due or Nonaccrual | 68,511 | 66,974 |
Total | 100,765 | 104,728 |
Equity lines of credit | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
90 Days or More Past Due | 0 | 0 |
Nonaccrual | 24,111 | 24,592 |
Total Past Due and Nonaccrual | 24,111 | 24,592 |
Not Past Due or Nonaccrual | 0 | 0 |
Total | 24,111 | 24,592 |
Equity loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 1,425 | 1,799 |
60-89 Days Past Due | 1,401 | 1,022 |
90 Days or More Past Due | 165 | 557 |
Nonaccrual | 12,874 | 12,823 |
Total Past Due and Nonaccrual | 15,865 | 16,201 |
Not Past Due or Nonaccrual | 39,469 | 39,472 |
Total | 55,334 | 55,673 |
Credit card | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
90 Days or More Past Due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccrual | 0 | 0 |
Not Past Due or Nonaccrual | 0 | 0 |
Total | 0 | 0 |
Consumer - direct | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
90 Days or More Past Due | 0 | 0 |
Nonaccrual | 67 | 90 |
Total Past Due and Nonaccrual | 67 | 90 |
Not Past Due or Nonaccrual | 67 | 91 |
Total | 134 | 181 |
Consumer - indirect | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
90 Days or More Past Due | 0 | 0 |
Nonaccrual | 1,338 | 1,443 |
Total Past Due and Nonaccrual | 1,338 | 1,443 |
Not Past Due or Nonaccrual | 0 | 0 |
Total | $1,338 | $1,443 |
Recovered_Sheet1
Loans and Allowance for Loan Losses - Classified as troubled debt restructurings (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Contract | Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts, covered | 0 | 1 | 0 | 2 |
Post modification outstanding , recorded investment, covered | $0 | $1 | $0 | $49 |
Number of subsequent default contracts, covered | 0 | 0 | 0 | 0 |
Recorded investment at default, covered | 0 | 0 | 0 | 0 |
Commercial, financial and agricultural | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 2 | 3 | 2 | 6 |
Post modification outstanding, recorded investment | 163 | 703 | 163 | 5,059 |
Number of subsequent default contracts | 0 | 0 | 0 | 1 |
Recorded investment at default | 0 | 0 | 0 | 9,531 |
Real estate - construction | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 0 | 1 | 0 | 3 |
Post modification outstanding, recorded investment | 0 | 3 | 0 | 2,409 |
Number of subsequent default contracts | 0 | 0 | 0 | 0 |
Recorded investment at default | 0 | 0 | 0 | 0 |
Commercial real estate - mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 3 | 8 | 9 | 13 |
Post modification outstanding, recorded investment | 2,656 | 628 | 6,586 | 3,832 |
Number of subsequent default contracts | 1 | 1 | 1 | 1 |
Recorded investment at default | 2,198 | 107 | 2,198 | 107 |
Residential real estate - mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 46 | 137 | 56 | 169 |
Post modification outstanding, recorded investment | 4,124 | 18,130 | 5,118 | 23,511 |
Number of subsequent default contracts | 0 | 4 | 0 | 10 |
Recorded investment at default | 0 | 122 | 0 | 2,135 |
Equity lines of credit | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 48 | 460 | 97 | 460 |
Post modification outstanding, recorded investment | 2,178 | 23,236 | 4,480 | 23,236 |
Number of subsequent default contracts | 0 | 0 | 3 | 0 |
Recorded investment at default | 0 | 0 | 275 | 0 |
Equity loans | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 23 | 333 | 41 | 359 |
Post modification outstanding, recorded investment | 1,330 | 11,303 | 3,317 | 13,260 |
Number of subsequent default contracts | 3 | 0 | 4 | 1 |
Recorded investment at default | 319 | 0 | 382 | 54 |
Credit card | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 0 | 0 | 0 | 0 |
Post modification outstanding, recorded investment | 0 | 0 | 0 | 0 |
Number of subsequent default contracts | 0 | 0 | 0 | 0 |
Recorded investment at default | 0 | 0 | 0 | 0 |
Consumer - direct | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 0 | 15 | 0 | 15 |
Post modification outstanding, recorded investment | 0 | 133 | 0 | 133 |
Number of subsequent default contracts | 0 | 0 | 0 | 0 |
Recorded investment at default | 0 | 0 | 0 | 0 |
Consumer - indirect | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 32 | 384 | 50 | 384 |
Post modification outstanding, recorded investment | 470 | 2,004 | 672 | 2,004 |
Number of subsequent default contracts | 0 | 0 | 0 | 0 |
Recorded investment at default | $0 | $0 | $0 | $0 |
Recovered_Sheet2
Loans and Allowance for Loan Losses - Narrative (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Receivables, Change in Method of Calculating Impairment, Recorded Investment | ' | $52,600,000 | ' | $52,600,000 | ' |
Certain Loans and Debt Securities Acquired in Transfer, Recorded Investment with Credit Losses Due to Subsequent Impairment | 6,400,000 | ' | 6,400,000 | ' | 4,800,000 |
Certain Loans and Debt Securities Acquired in Transfer, Unpaid Principle Balance with Credit Losses Due to Subsequent Impairment | 10,700,000 | ' | 10,700,000 | ' | 10,900,000 |
Purchased impaired loans allowance | 8,161,000 | ' | 8,161,000 | ' | 243,000 |
Recognized provision for loan losses attributable to credit deterioration (improvements) subsequent to acquisition of loan | 2,500,000 | 627,000 | 4,600,000 | -4,600,000 | ' |
Interest income on purchased nonimpaired loans | 35,400,000 | 76,800,000 | 73,200,000 | 170,100,000 | ' |
Certain loans and debt securities acquired in transfer, allowance recorded due to subsequent impairment | 313,000 | ' | 313,000 | ' | 243,000 |
Covered loans | 613,152,000 | ' | 613,152,000 | ' | 734,190,000 |
Loans held-for-sale, classified as TDR, nonaccrual | 0 | ' | 0 | ' | 3,600,000 |
Commitment to lend additional funds to borrowers owing TDR loans | 892,000 | ' | 892,000 | ' | 3,900,000 |
Allowance for Credit Losses, Change in Method of Calculating Impairment | ' | 33,500,000 | ' | 33,500,000 | ' |
Interest rate concession | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
TDRs | 4,500,000 | 5,800,000 | 6,900,000 | 18,900,000 | ' |
Modification of loan structure | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
TDRs | 6,400,000 | 50,300,000 | 13,400,000 | 54,600,000 | ' |
Covered loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Certain loans and debt securities acquired in transfer, allowance recorded due to subsequent impairment | $12,000,000 | ' | $12,000,000 | ' | $3,000,000 |
Loan_Sales_and_Servicing_Narra
Loan Sales and Servicing - Narrative (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Transfer of loans to loans held for sale | $14,000,000 | $76,000,000 | $14,000,000 | $76,000,000 | ' |
Recognized charge-off upon transfer of loan to loans held for sale | 4,000,000 | 22,000,000 | 4,000,000 | 22,000,000 | ' |
Balance of residential mortgage loans sold with retained servicing | 2,900,000,000 | ' | 2,900,000,000 | ' | 2,700,000,000 |
Fair value of residential mortgage servicing rights | 31,104,000 | ' | 31,104,000 | ' | 30,065,000 |
Originated For Sale In The Secondary Market | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Residential mortgage loans sold | 181,000,000 | 372,000,000 | 369,000,000 | 865,000,000 | ' |
Recognized net gains on sale of residential mortgage loans | 5,800,000 | 6,700,000 | 11,300,000 | 19,800,000 | ' |
Residential real estate - mortgage | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Servicing fees | 3,700,000 | 3,300,000 | 7,300,000 | 4,100,000 | ' |
Residential Real Estate Mortgage Loans Sold with Retained Serving Member | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Residential mortgage loans sold | 181,000,000 | 366,000,000 | 369,000,000 | 842,000,000 | ' |
Loans and Loans Held for Sale Excluding Loans Originated for Sale in Secondary Market | Loans and Loans Held for Sale Excluding Loans Originated for Sale in Secondary Market | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Cost of loans and leases sold | $39,000,000 | $94,000,000 | $100,000,000 | $114,000,000 | ' |
Loan_Sales_and_Servicing_Loans
Loan Sales and Servicing - Loans Held For Sale (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans held for sale | $211,879 | $147,109 |
Real estate - construction | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans held for sale | 0 | 4,447 |
Mortgage Receivable | Commercial real estate - mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans held for sale | 0 | 2,912 |
Mortgage Receivable | Residential real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans held for sale | $211,879 | $139,750 |
Loan_Sales_and_Servicing_Resid
Loan Sales and Servicing - Residential MSRs (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
In Thousands, unless otherwise specified | Residential mortgage | Residential mortgage | Residential mortgage | Residential mortgage | ||||||
Servicing Asset at Fair Value, Amount [Roll Forward] | ' | ' | ' | ' | ' | ' | ||||
Beginning balance | $31,104 | $30,065 | $31,828 | $18,471 | $30,065 | $13,255 | ||||
Additions | ' | ' | 1,923 | 3,872 | 4,006 | 9,133 | ||||
Due to changes in valuation inputs or assumptions | ' | ' | -2,085 | 710 | -1,794 | 1,046 | ||||
Due to other changes in fair value | ' | ' | -562 | [1] | -430 | [1] | -1,173 | [1] | -811 | [1] |
Ending balance | $31,104 | $30,065 | $31,104 | $22,623 | $31,104 | $22,623 | ||||
[1] | Represents the realization of expected net servicing cash flows, expected borrower repayments and the passage of time. |
Loan_Sales_and_Servicing_Valua
Loan Sales and Servicing - Valuation Assumptions (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Servicing Assets at Fair Value [Line Items] | ' | ' |
Fair value of residential mortgage servicing rights | $31,104 | $30,065 |
Mortgage loans sold and serviced, percentage | 100.00% | 100.00% |
Weighted average life (in years) | '6 years 6 months 0 days | '6 years 10 months 24 days |
Prepayment speed: | 9.70% | 8.80% |
Effect on fair value of a 10% increase | -957 | -743 |
Effect on fair value of a 20% increase | -1,891 | -1,492 |
Weighted average discount rate: | 10.00% | 10.00% |
Effect on fair value of a 10% increase | -1,178 | -1,167 |
Effect on fair value of a 20% increase | ($2,272) | ($2,247) |
Fixed rate mortgage loan | ' | ' |
Servicing Assets at Fair Value [Line Items] | ' | ' |
Mortgage loans sold and serviced, percentage | 96.40% | 96.40% |
Adjustable rate mortgage loan | ' | ' |
Servicing Assets at Fair Value [Line Items] | ' | ' |
Mortgage loans sold and serviced, percentage | 3.60% | 3.60% |
Derivatives_and_Hedging_Deriva
Derivatives and Hedging - Derivatives by Balance Sheet Location (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | $173,401 | $192,771 | ||
Derivative liabilities, estimated fair value | 233,917 | 200,207 | ||
Derivatives designated as hedging instrument | Other assets | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 70,884 | [1] | 71,275 | [1] |
Derivatives designated as hedging instrument | Accrued expenses and other liabilities | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 14,230 | [2] | 11,862 | [2] |
Derivatives designated as hedging instrument | Fair value hedges | Interest rate swap long term debt | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 423,950 | 423,950 | ||
Derivatives designated as hedging instrument | Fair value hedges | Other assets | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 67,499 | [1] | 67,623 | [1] |
Derivatives designated as hedging instrument | Fair value hedges | Other assets | Interest rate swap long term debt | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 67,499 | [1] | 67,623 | [1] |
Derivatives designated as hedging instrument | Cash flow hedges | Interest rate swap commercial loan | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 600,000 | 200,000 | ||
Derivatives designated as hedging instrument | Cash flow hedges | Interest rate swap FHLB advances | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 320,000 | 320,000 | ||
Derivatives designated as hedging instrument | Cash flow hedges | Other assets | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 3,385 | [1] | 3,652 | [1] |
Derivatives designated as hedging instrument | Cash flow hedges | Other assets | Interest rate swap commercial loan | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 3,385 | [1] | 3,652 | [1] |
Derivatives designated as hedging instrument | Cash flow hedges | Accrued expenses and other liabilities | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 14,230 | [2] | 11,862 | [2] |
Derivatives designated as hedging instrument | Cash flow hedges | Accrued expenses and other liabilities | Interest rate swap FHLB advances | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 14,230 | [2] | 11,862 | [2] |
Derivatives not designated as hedging instrument | Interest rate contract, risk management and other purposes, forward and option contracts related to held for sale mortgages | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 320,500 | 171,364 | ||
Derivatives not designated as hedging instrument | Purchased Equity Option Contracts, Risk Management And Other Purposes, Equity Linked CDs | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 686,268 | 588,377 | ||
Derivatives not designated as hedging instrument | Equity Swap Contracts, Risk Management And Other Purposes, Sale of Visa Class B Shares | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 47,074 | 49,748 | ||
Derivatives not designated as hedging instrument | Foreign Exchange Contracts, Risk Management And Other Purposes, Commercial Loans | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 650,758 | 424,797 | ||
Derivatives not designated as hedging instrument | Foreign Exchange Spot Contracts, Risk Management And Other Purposes, Commercial Loans | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 23,301 | 41,133 | ||
Derivatives not designated as hedging instrument | Futures Contracts, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 488,000 | [3] | 657,000 | [3] |
Derivatives not designated as hedging instrument | Interest Rate Lock Commitments, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 253,064 | 129,791 | ||
Derivatives not designated as hedging instrument | Written Equity Options Linked to Equity Linked CDs | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 667,447 | 576,196 | ||
Derivatives not designated as hedging instrument | Interest Rate Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 15,555,775 | 13,474,347 | ||
Derivatives not designated as hedging instrument | Commodity Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 590,859 | 906,650 | ||
Derivatives not designated as hedging instrument | Foreign Exchange Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Notional Amount | 435,810 | 145,175 | ||
Derivatives not designated as hedging instrument | Other assets | Interest rate contract, risk management and other purposes, forward and option contracts related to held for sale mortgages | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 208 | 1,727 | [1] | |
Derivatives not designated as hedging instrument | Other assets | Purchased Equity Option Contracts, Risk Management And Other Purposes, Equity Linked CDs | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 54,582 | [1] | 47,875 | [1] |
Derivatives not designated as hedging instrument | Other assets | Foreign Exchange Contracts, Risk Management And Other Purposes, Commercial Loans | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 141 | [1] | 1,072 | [1] |
Derivatives not designated as hedging instrument | Other assets | Foreign Exchange Spot Contracts, Risk Management And Other Purposes, Commercial Loans | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 27 | [1] | 55 | [1] |
Derivatives not designated as hedging instrument | Other assets | Free-standing derivative instruments – risk management and other purposes | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 54,958 | [1] | 50,729 | [1] |
Derivatives not designated as hedging instrument | Other assets | Interest Rate Lock Commitments, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 3,822 | [1] | 947 | [1] |
Derivatives not designated as hedging instrument | Other assets | Interest Rate Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 271,908 | [1] | 262,578 | [1] |
Derivatives not designated as hedging instrument | Other assets | Commodity Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 15,198 | [1] | 23,132 | [1] |
Derivatives not designated as hedging instrument | Other assets | Foreign Exchange Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 2,869 | [1] | 4,450 | [1] |
Derivatives not designated as hedging instrument | Other assets | Trading account assets and liabilities, Customer Accomodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 289,975 | [1] | 290,160 | [1] |
Derivatives not designated as hedging instrument | Other assets | Free-standing derivative instruments – customer accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Assets | 293,797 | [1] | 291,107 | [1] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Interest rate contract, risk management and other purposes, forward and option contracts related to held for sale mortgages | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 2,546 | 56 | [2] | |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Equity Swap Contracts, Risk Management And Other Purposes, Sale of Visa Class B Shares | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 1,177 | [2] | 1,244 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Foreign Exchange Contracts, Risk Management And Other Purposes, Commercial Loans | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 4,814 | [2] | 2,690 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Foreign Exchange Spot Contracts, Risk Management And Other Purposes, Commercial Loans | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 16 | [2] | 56 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Free-standing derivative instruments – risk management and other purposes | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 8,553 | [2] | 4,046 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Interest Rate Lock Commitments, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 1 | [2] | 57 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Written Equity Options Linked to Equity Linked CDs | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 53,117 | [2] | 46,573 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Interest Rate Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 211,684 | [2] | 200,899 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Commodity Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 12,897 | [2] | 18,373 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Foreign Exchange Contracts, Trading Account Assets and Liabilities, Customer Accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 2,154 | [2] | 3,894 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Trading account assets and liabilities, Customer Accomodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | 226,735 | [2] | 223,166 | [2] |
Derivatives not designated as hedging instrument | Accrued expenses and other liabilities | Free-standing derivative instruments – customer accommodation | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities, estimated fair value | $279,853 | [2] | $269,796 | [2] |
[1] | Derivative assets, except for trading account assets that are recorded as a component of trading account assets on the Company's Unaudited Condensed Consolidated Balance Sheets, are recorded in other assets on the Company’s Unaudited Condensed Consolidated Balance Sheets. | |||
[2] | Derivative liabilities are recorded in accrued expenses and other liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets. | |||
[3] | Changes in fair value are cash settled daily; therefore, there is no ending balance at any given reporting period. |
Derivatives_and_Hedging_Fair_V
Derivatives and Hedging - Fair Value Hedges (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Interest Rate Fair Value Hedges [Abstract] | ' | ' | ' | ' |
Subordinated debentures partially extinguished, amount | ' | $126,000,000 | ' | $126,000,000 |
Interest Rate Swap | ' | ' | ' | ' |
Interest Rate Fair Value Hedges [Abstract] | ' | ' | ' | ' |
Subordinated debentures partially extinguished, amount | ' | 126,000,000 | ' | 126,000,000 |
Derivatives designated as hedging instrument | Fair value hedges | Interest Rate Swap | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative, Average Remaining Maturity | ' | ' | '4 years 10 months 24 days | ' |
Derivatives designated as hedging instrument | Fair value hedges | Interest Rate Swap | Interest on FHLB and other borrowings | ' | ' | ' | ' |
Interest Rate Fair Value Hedges [Abstract] | ' | ' | ' | ' |
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | 811,000 | -17,870,000 | -124,000 | -27,724,000 |
Change in fair value of interest rate contract - hedged long term debt | -838,000 | 17,887,000 | 219,000 | 28,044,000 |
Interest and amortization related to interest rate swaps on hedged long term debt | $6,016,000 | $5,559,000 | $12,032,000 | $12,341,000 |
Derivatives_and_Hedging_Cash_F
Derivatives and Hedging - Cash Flow Hedges (Details) (Derivatives designated as hedging instrument, Cash flow hedges, Interest Rate Swap, USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Cash Flow Hedges Derivative Instruments at Fair Value, Net | ($10,800,000) | ' | ($10,800,000) | ' |
Derivative, Average Remaining Maturity | ' | ' | '3 years 3 months | ' |
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge | ' | ' | '7 years 0 months | ' |
Interest Rate Cash Flow Hedges [Abstract] | ' | ' | ' | ' |
Net change in amount recognized in other comprehensive income | -875,000 | 4,882,000 | -1,682,000 | 6,265,000 |
Interest Income | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | ' | ' | 1,900,000 | ' |
Interest Rate Cash Flow Hedges [Abstract] | ' | ' | ' | ' |
Amount reclassified from accumulated other comprehensive income into net interest income | -564,000 | -1,143,000 | -1,727,000 | -2,276,000 |
Amount of ineffectiveness recognized in net interest income | $0 | $0 | $0 | $0 |
Derivatives_and_Hedging_Free_S
Derivatives and Hedging - Free Standing Derivative Instruments (Details) (Derivatives not designated as hedging instrument, USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Futures Contracts, Customer Accommodation | Corporate and correspondent investment sales | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ($157) | $575 | ($233) | $617 |
Interest rate contract, risk management and other purposes, forward and option contracts related to held for sale mortgages | Mortgage Banking Income | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -2,553 | 13,488 | -4,107 | 12,744 |
Purchased Equity Option Contracts, Risk Management And Other Purposes, Equity Linked CDs | Other noninterest expense | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2,929 | 2,019 | 6,707 | 5,242 |
Foreign Exchange Contracts, Risk Management And Other Purposes, Commercial Loans | Corporate and correspondent investment sales | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -11,943 | 3,456 | -17,430 | 11,021 |
Foreign Exchange Spot Contracts, Risk Management And Other Purposes, Commercial Loans | Corporate and correspondent investment sales | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2,527 | -805 | 3,407 | -805 |
Interest Rate Contracts, Trading Account Assets and Liabilities, Customer Accommodation | Corporate and correspondent investment sales | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 4,040 | 9,410 | 9,158 | 16,308 |
Interest Rate Lock Commitments, Customer Accommodation | Mortgage Banking Income | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2,139 | -3,858 | 2,931 | -4,483 |
Commodity Contracts, Trading Account Assets and Liabilities, Customer Accommodation | Corporate and correspondent investment sales | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -105 | 79 | -97 | 26 |
Foreign Exchange Contracts, Trading Account Assets and Liabilities, Customer Accommodation | Corporate and correspondent investment sales | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 177 | 283 | 370 | 283 |
Written Equity Options Linked to Equity Linked CDs | Other noninterest expense | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ($2,865) | ($2,061) | ($6,544) | ($5,155) |
Derivatives_and_Hedging_Credit
Derivatives and Hedging - Credit and Market Risks (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | ||||
Credit Derivatives [Line Items] | ' | ' | ' | ' | ' | |||
Derivative, Collateral, Right to Reclaim Cash | $41,209,000 | [1] | ' | $41,209,000 | [1] | ' | $25,910,000 | [1] |
Derivative, Collateral, Obligation to Return Cash | -12,942,000 | [1] | ' | -12,942,000 | [1] | ' | -37,189,000 | [1] |
Other assets | ' | ' | ' | ' | ' | |||
Credit Derivatives [Line Items] | ' | ' | ' | ' | ' | |||
Derivative, Collateral, Right to Reclaim Cash | 45,000,000 | ' | 45,000,000 | ' | 26,000,000 | |||
Deposits | ' | ' | ' | ' | ' | |||
Credit Derivatives [Line Items] | ' | ' | ' | ' | ' | |||
Derivative, Collateral, Obligation to Return Cash | -17,000,000 | ' | -17,000,000 | ' | -38,000,000 | |||
Derivatives not designated as hedging instrument | Interest Rate Swap | ' | ' | ' | ' | ' | |||
Credit Derivatives [Line Items] | ' | ' | ' | ' | ' | |||
Credit Risk Derivatives, at Fair Value, Net | 290,000,000 | ' | 290,000,000 | ' | ' | |||
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net | -727,000 | -1,100,000 | -726,000 | -1,700,000 | ' | |||
Derivatives, Nonperforming Positions | 74,000 | ' | 74,000 | ' | 54,000 | |||
Derivatives designated as hedging instrument | Interest Rate Swap | Over the Counter | ' | ' | ' | ' | ' | |||
Credit Derivatives [Line Items] | ' | ' | ' | ' | ' | |||
Credit Risk Derivatives, at Fair Value, Net | $71,000,000 | ' | $71,000,000 | ' | ' | |||
[1] | The actual amount of collateral received/pledged is limited to the derivative asset/liability balance and does not include excess collateral received/pledged. When excess collateral exists the collateral shown in the table above has been allocated based on the percentage of the actual amount of collateral posted. |
Derivatives_and_Hedging_Contin
Derivatives and Hedging - Contingent Features (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Derivative, Net Liability Position, Aggregate Fair Value | $73 | $57 |
Collateral Already Posted, Aggregate Fair Value | 70 | 54 |
Additional Collateral, Aggregate Fair Value | $3 | $3 |
Assets_and_Liabilities_Subject2
Assets and Liabilities Subject to Enforceable Master Netting Arrangements (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Derivative financial assets: | ' | ' | ||
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | $173,401 | $192,771 | ||
Derivative assets, total derivative subject to a master netting arrangement, gross amounts offset in the condensed consolidated balance sheet | 0 | 0 | ||
Derivative assets, total derivatives subject to a master netting arrangement, net amount presented in the condensed consolidated balance sheets | 173,401 | 192,771 | ||
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts not offset in the condensed consolidated balance sheet, financial instruments | 14,011 | [1] | 7,723 | [1] |
Derivate assets, total derivatives subject to a master netting arrangement, gross amounts not offset in the condensed consolidated balance sheets, cash collateral received/pledged | 12,942 | [1] | 37,189 | [1] |
Derivative assets, total derivatives subject to a master netting arrangement, net amount | 146,448 | 147,859 | ||
Derivative assets, total derivatives not subject to a master netting arrangement | 246,238 | 220,340 | ||
Total derivative financial assets, gross amounts recognized | 419,639 | 413,111 | ||
Total derivative financial assets, net amount presented in the condensed consolidated balance sheet | 419,639 | 413,111 | ||
Total derivative financial assets, net amount | 392,686 | 368,199 | ||
Derivative financial liabilities: | ' | ' | ||
Derivative liabilities, total derivative subject to a master netting arrangement, gross amounts recognized | 233,917 | 200,207 | ||
Derivative liabilities, total derivative subject to a master netting arrangement, gross amount offset in the condensed consolidated balance sheets | 0 | 0 | ||
Derivative liabilities, total derivative subject to a master netting arrangement, net amount presented in the condensed consolidated balance sheets | 233,917 | 200,207 | ||
Derivative liabilities, total derivative subject to a master netting arrangement, gross amounts not offset in the condensed consolidated balance sheets, financial instruments | 49,762 | [1] | 46,466 | [1] |
Derivative liabilities, total derivative subject to a master netting arrangement, gross amounts not offset in the condensed consolidated balance sheets, cash collateral received/pledged | 41,209 | [1] | 25,910 | [1] |
Derivative liabilities, total derivatives subject to a master netting arrangement, net amount | 142,946 | 127,831 | ||
Derivative liabilities, total derivatives not subject to a master netting arrangement | 68,719 | 85,497 | ||
Derivative liabilities, total derivative financial liabilities, gross amount recognized | 302,636 | 285,704 | ||
Total derivative financial liabilities, net amount presented in the condensed consolidated balance sheets | 302,636 | 285,704 | ||
Total derivative financial liabilities, net amount | $211,665 | $213,328 | ||
[1] | The actual amount of collateral received/pledged is limited to the derivative asset/liability balance and does not include excess collateral received/pledged. When excess collateral exists the collateral shown in the table above has been allocated based on the percentage of the actual amount of collateral posted. |
Commitments_Contingencies_and_1
Commitments, Contingencies and Guarantees - Commitments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Guarantor Obligations [Line Items] | ' | ' |
Commitments to extend credit | $27,218,532 | $26,545,608 |
Financial Standby Letter of Credit | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Standby and commercial letters of credit | $1,999,730 | $2,093,159 |
Commitments_Contingencies_and_2
Commitments, Contingencies and Guarantees - Narrative (Details) (USD $) | 1 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||||
Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | |
Pending Litigation | Pending Litigation | Financial Standby Letter of Credit | Financial Standby Letter of Credit | Financial Standby Letter of Credit | Financial Standby Letter of Credit | Financial Standby Letter of Credit | Financial Standby Letter of Credit | Potential Recourse Related To FNMA Securitizations | Potential Recourse Related To FNMA Securitizations | Potential Recourse Related To FNMA Securitizations | Potential Recourse Related To FNMA Securitizations | Standard Representations And Warranties Related To Loan Sales To Government-Sponsored Agencies | Standard Representations And Warranties Related To Loan Sales To Government-Sponsored Agencies | FDIC Loss Sharing Agreement | FDIC Loss Sharing Agreement | FDIC Loss Sharing Agreement | FDIC Loss Sharing Agreement | |
Jack Demetree Vs. BBVA Compass | Other Litigation Matters | Minimum | Maximum | Accrued expenses and other liabilities | Accrued expenses and other liabilities | Accrued expenses and other liabilities | Accrued expenses and other liabilities | Accrued expenses and other liabilities | Accrued expenses and other liabilities | Commercial Loan | Single Family Residential Loan | |||||||
Loss Contingencies And Guarantor Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Standby and commercial letters of credit expiration term | ' | ' | ' | ' | '1 year | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit, deferred fees | ' | ' | $7,000,000 | $4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum potential amount of future undiscounted payments Company could be required to make on outstanding standby letters of credit | ' | ' | 2,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency accrual | ' | 10,000,000 | ' | ' | ' | ' | 92,000,000 | 76,000,000 | ' | ' | 730,000 | 738,000 | 1,000,000 | 1,000,000 | ' | ' | ' | ' |
Potential recourse | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Covered loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,700,000,000 | ' | ' | ' |
Loan losses reimbursable by FDIC, percentage of loss reimbursable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' |
FDIC indemnification asset, threshold loss amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000,000 | ' | ' | ' |
FDIC indemnification asset, percentage of incurred losses above threshold, amount reimbursed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' | ' |
FDIC loss sharing agreement, term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | '5 years | '10 years |
Loss sharing agreement, percentage owed by company to FDIC if terms are met | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' |
Loss sharing agreement, threshold amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 457,000,000 | ' | ' | ' |
Loss sharing agreement, percentage of net amount paid to company, subject to repayment to FDIC | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' |
Loss sharing agreement, administration costs for loans, percentage subject to repayment to FDIC | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' |
Loss sharing agreement, average administration cost percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' |
Loss sharing agreement, amount owed to FDIC | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 143,000,000 | 140,000,000 | ' | ' |
Loss Contingency, Damages Sought, Value | $16,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Narrative (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Residential mortgage loans held for sale | Residential mortgage loans held for sale | Residential mortgage loans held for sale | Residential mortgage loans held for sale | Forward contracts | Forward contracts | Forward contracts | Forward contracts | |||
Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Noninterest income | Noninterest income | Noninterest income | Noninterest income | |||||||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal home loan bank and federal reserve stock required to be owned by company | $501,000,000 | $512,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gains realized due to changes in fair value of loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,400,000 | -7,700,000 | 6,100,000 | -14,500,000 | -2,600,000 | 13,500,000 | -4,100,000 | 12,800,000 |
Investment Securities - Fair Value | 1,356,799,000 | 1,405,258,000 | 3,690,000 | 3,687,000 | 3,690,000 | 3,687,000 | 1,356,799,000 | 1,405,258,000 | 3,690,000 | 3,687,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Investment securities held to maturity recorded as other than temporary impairment losses | ' | ' | 34,000 | 462,000 | 180,000 | 462,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans held for sale, estimated fair value | 211,879,000 | 139,750,000 | ' | 7,616,000 | ' | 7,616,000 | 0 | 7,359,000 | ' | 7,616,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Net write-downs of other real estate held for sale | ' | ' | $689,000 | $2,789,000 | $1,582,000 | $4,593,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Unpaid Principle Balances (Details) (Residential mortgage loans held for sale, USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Residential mortgage loans held for sale | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Loans Held for Sale - Fair Value | $211,879 | $139,750 |
Aggregate unpaid principle balance | 203,361 | 137,300 |
Difference | $8,518 | $2,450 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Fair value of balance sheet items (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ||
Trading account assets | $356,889 | $319,930 | ||
Loans held for sale, estimated fair value | 211,879 | 139,750 | ||
Investment securities available for sale | 8,972,237 | 8,313,085 | ||
Derivative Asset | 419,639 | 413,111 | ||
Other assets | 878,743 | 893,274 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 302,636 | 285,704 | ||
Quoted Prices in Active Markets for Identical Assets, Level 1 | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 37,109 | 40,340 | ||
Derivative Asset | 141 | ' | ||
Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 355,180 | 318,285 | ||
Loans held for sale, estimated fair value | 211,879 | 139,750 | ||
Investment securities available for sale | 8,434,177 | 7,760,612 | ||
Derivative Asset | 125,701 | 122,004 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 242,440 | 228,757 | ||
Derivative liabilities | 74,723 | 61,237 | ||
Fair Value, Inputs, Level 3 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 1,709 | 1,645 | ||
Loans held for sale, estimated fair value | 0 | 7,359 | ||
Investment securities available for sale | 500,951 | 512,133 | ||
Derivative Asset | 3,822 | 947 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 1 | 57 | ||
Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 356,889 | 319,930 | ||
Loans held for sale, estimated fair value | 211,879 | 139,750 | ||
Investment securities available for sale | 8,471,292 | 7,800,958 | ||
Derivative Asset | 129,664 | 122,951 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 242,440 | 228,757 | ||
Derivative liabilities | 74,724 | 61,294 | ||
Fair Value, measurements, recurring | Interest rate contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 74,914 | 73,949 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 16,777 | 11,975 | ||
Fair Value, measurements, recurring | Equity Contract | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 54,582 | 47,875 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 53,117 | 46,573 | ||
Fair Value, measurements, recurring | Foreign exchange contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 168 | 1,127 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 4,830 | 2,746 | ||
Fair Value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets, Level 1 | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 37,109 | 40,340 | ||
Derivative Asset | 141 | ' | ||
Fair Value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets, Level 1 | Interest rate contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 141 | ' | ||
Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 355,180 | 318,285 | ||
Loans held for sale, estimated fair value | 211,879 | 139,750 | ||
Investment securities available for sale | 8,434,177 | 7,760,612 | ||
Derivative Asset | 125,701 | 122,004 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 242,440 | 228,757 | ||
Derivative liabilities | 74,723 | 61,237 | ||
Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | Interest rate contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 70,951 | 73,002 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 16,776 | 11,918 | ||
Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | Equity Contract | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 54,582 | 47,875 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 53,117 | 46,573 | ||
Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | Foreign exchange contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 168 | 1,127 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 4,830 | 2,746 | ||
Fair Value, measurements, recurring | Fair Value, Inputs, Level 3 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 1,709 | 1,645 | ||
Investment securities available for sale | 6 | 6 | ||
Derivative Asset | 3,822 | 947 | ||
Other assets | 31,104 | 30,065 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 1 | 57 | ||
Fair Value, measurements, recurring | Fair Value, Inputs, Level 3 | Interest rate contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative Asset | 3,822 | 947 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 1 | 57 | ||
US Treasury and government agency | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 571,032 | 260,937 | ||
US Treasury and government agency | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 25,679 | 24,655 | ||
Investment securities available for sale | 571,032 | 260,937 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 2,472 | ' | ||
US Treasury and government agency | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 25,679 | 24,655 | ||
Investment securities available for sale | 571,032 | 260,937 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 2,472 | ' | ||
Collateralized mortgage obligations | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 2,357,625 | 1,756,398 | ||
Collateralized mortgage obligations | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 23,344 | 1,285 | ||
Investment securities available for sale | 5,007,481 | 5,233,791 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 13,109 | 5,568 | ||
Collateralized mortgage obligations | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 23,344 | 1,285 | ||
Investment securities available for sale | 5,007,481 | 5,233,791 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 13,109 | 5,568 | ||
State and political subdivisions | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 497,990 | 509,436 | ||
State and political subdivisions | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 3,682 | 2,160 | ||
Investment securities available for sale | 497,990 | 509,436 | ||
State and political subdivisions | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 3,682 | 2,160 | ||
Investment securities available for sale | 497,990 | 509,436 | ||
Other equity securities | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | ' | 2 | ||
Other equity securities | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | ' | 2 | ||
Interest rate contracts | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 271,908 | 262,578 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 211,684 | 200,899 | ||
Interest rate contracts | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 271,908 | 262,578 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 211,684 | 200,899 | ||
Commodity contracts | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 15,198 | 23,132 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 12,897 | 18,373 | ||
Commodity contracts | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 15,198 | 23,132 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 12,897 | 18,373 | ||
Other trading liabilities | Fair Value, measurements, recurring | ' | ' | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 124 | 23 | ||
Other trading liabilities | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 124 | 23 | ||
Collateralized mortgage obligations | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 9,870 | ' | ||
Investment securities available for sale | 2,357,625 | 1,756,398 | ||
Collateralized mortgage obligations | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 9,870 | ' | ||
Investment securities available for sale | 2,357,625 | 1,756,398 | ||
Other trading assets | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 1,832 | 1,668 | ||
Other trading assets | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 123 | 23 | ||
Other trading assets | Fair Value, measurements, recurring | Fair Value, Inputs, Level 3 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 1,709 | 1,645 | ||
Other debt obligations | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 37,094 | 40,333 | ||
Other debt obligations | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 2,507 | ' | ||
Investment securities available for sale | 37,094 | 40,333 | ||
Other debt obligations | Fair Value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets, Level 1 | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 37,045 | 40,283 | ||
Other debt obligations | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 2,507 | ' | ||
Investment securities available for sale | 49 | 50 | ||
Foreign exchange contracts | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 2,869 | 4,450 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 2,154 | 3,894 | ||
Foreign exchange contracts | Fair Value, measurements, recurring | Significant Other Observable Inputs, Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Trading account assets | 2,869 | 4,450 | ||
Liabilities: | ' | ' | ||
Trading account liabilities | 2,154 | 3,894 | ||
Equity securities | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 501,015 | 512,190 | ||
Equity securities | Fair Value, measurements, recurring | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 70 | [1] | 63 | [2] |
Equity securities | Fair Value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets, Level 1 | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | 64 | [1] | 57 | [2] |
Equity securities | Fair Value, measurements, recurring | Fair Value, Inputs, Level 3 | ' | ' | ||
Assets: | ' | ' | ||
Investment securities available for sale | $6 | [1] | $6 | [2] |
[1] | Excludes $501 million of FHLB and Federal Reserve stock required to be owned by the Company at June 30, 2014. These securities are carried at par. | |||
[2] | Excludes $512 million of FHLB and Federal Reserve stock required to be owned by the Company at December 31, 2013. These securities are carried at par. |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Assets measured on a recurring basis (Details) (Fair Value, measurements, recurring, USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||||||||||
Other trading securities | Other trading securities | Other trading securities | Other trading securities | State and political subdivisions | State and political subdivisions | State and political subdivisions | State and political subdivisions | State and political subdivisions | Equity securities | Equity securities | Equity securities | Equity securities | Equity securities | Equity securities | Interest rate contracts | Interest rate contracts | Interest rate contracts | Interest rate contracts | Other assets | Other assets | Other assets | Other assets | |||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Interest Rate Derivative Asset, At Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,821 | ' | $3,821 | ' | ' | ' | ' | ' | ||||||||||||
Other Asset, At Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,104 | ' | 31,104 | ' | ||||||||||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) | 17 | -58 | 64 | -121 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,139 | -3,858 | 2,931 | -4,483 | -2,647 | 280 | -2,967 | 235 | ||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Balance, beginning of year | 1,692 | 2,020 | 1,645 | 2,083 | 8 | 8 | 0 | 0 | 0 | 6 | 6 | 6 | 6 | 6 | 6 | 1,682 | 4,391 | 890 | 5,016 | 31,828 | 18,471 | 30,065 | 13,255 | ||||||||||||
Included in earnings | 17 | [1] | -58 | [1] | 64 | [1] | -121 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,139 | [1] | -3,858 | [1] | 2,931 | [1] | -4,483 | [1] | -2,647 | [1] | 280 | [1] | -2,967 | [1] | 235 | [1] |
Purchases, issuances, sales and settlements: [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Issuances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,923 | 3,872 | 4,006 | 9,133 | ||||||||||||
Balance, end of year | ' | 1,962 | ' | 1,962 | 0 | 0 | 0 | 0 | 0 | 6 | 6 | 6 | 6 | 6 | 6 | ' | 533 | ' | 533 | ' | 22,623 | ' | 22,623 | ||||||||||||
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at year end | 17 | [1] | -58 | [1] | 64 | [1] | -121 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,139 | [1] | -3,858 | [1] | 2,931 | [1] | -4,483 | [1] | -2,647 | [1] | 280 | [1] | -2,967 | [1] | 235 | [1] |
Other Trading Asset, At Fair Value | 1,709 | ' | 1,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | ' | ' | ' | ' | ($8) | ($8) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
[1] | Included in noninterest income in the Unaudited Condensed Consolidated Statements of Income. |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Assets measured on nonrecurring basis (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||||
In Thousands, unless otherwise specified | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | |||||||||
Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | ||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Investment Securities - Fair Value | $1,356,799 | $1,405,258 | ' | $1,356,799 | $1,405,258 | $3,690 | $3,687 | $3,690 | $3,687 | $3,690 | $3,687 | ||||||
Investment securities held to maturity recorded as other than temporary impairment losses | ' | ' | ' | ' | ' | -34 | -462 | -180 | -462 | ' | ' | ||||||
Loans Held for Sale - Fair Value | 211,879 | 139,750 | ' | 0 | 7,359 | ' | 7,616 | ' | 7,616 | ' | 7,616 | ||||||
Loans Held For Sale, Fair Value Adjustment | ' | ' | ' | ' | ' | ' | 0 | ' | 182 | ' | ' | ||||||
Impaired Financing Receivable, Recorded Investment | ' | ' | ' | ' | ' | 131,622 | [1] | 318,288 | [1] | 131,622 | [1] | 318,288 | [1] | 131,622 | [1] | 318,288 | [1] |
Impaired Financing Receivable, Fair Value Adjustment | ' | ' | ' | ' | ' | -14,532 | [1] | -18,681 | [1] | -18,875 | [1] | -35,723 | [1] | ' | ' | ||
Other Real Estate, Fair Value Disclosure | 21,113 | ' | 52,798 | ' | ' | ' | ' | ' | ' | 21,113 | 52,798 | ||||||
Impairment of Real Estate | ' | ' | ' | ' | ' | ($689) | ($2,789) | ($1,582) | ($4,593) | ' | ' | ||||||
[1] | Total gains (losses) represent charge-offs on impaired loans for which adjustments are based on the appraised value of the collateral. |
Fair_Value_of_Financial_Instru7
Fair Value of Financial Instruments - Quantitative information about unobservable inputs for material assets and liabilities measured using fair value (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | ||||
In Thousands, unless otherwise specified | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, recurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | Fair Value, measurements, nonrecurring | |||||||
Other trading securities | Other trading securities | Other trading securities | Other trading securities | Interest rate contracts | Interest rate contracts | Interest rate contracts | Interest rate contracts | Other assets | Other assets | Other assets | Other assets | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Discounted cash flow | Minimum | Maximum | Impaired loans | Impaired loans | Impaired loans | OREO | ||||||||||||||
Discounted cash flow | Minimum | Maximum | Discounted cash flow | Minimum | Maximum | Discounted cash flow | Minimum | Maximum | Fair Value, Inputs, Level 3 | Discounted cash flow | Discounted cash flow | Appraised value | Minimum | Maximum | Appraised value | |||||||||||||||||||
Fair Value, Inputs, Level 3 | Discounted cash flow | Discounted cash flow | Fair Value, Inputs, Level 3 | Discounted cash flow | Discounted cash flow | Fair Value, Inputs, Level 3 | Discounted cash flow | Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Appraised value | Appraised value | Fair Value, Inputs, Level 3 | ||||||||||||||||||||
Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | |||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other Trading Asset, At Fair Value | ' | ' | ' | ' | ' | ' | ' | $1,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Interest Rate Derivative Asset, At Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,821 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Fair value measurements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Investment securities held to maturity, estimated fair value | 1,356,799 | 1,405,258 | ' | 1,356,799 | 1,405,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,690 | 3,687 | 3,690 | 3,687 | ' | ' | ' | ' | ' | ' | ' | ||||
Loans Held for Sale - Fair Value | 211,879 | 139,750 | ' | 0 | 7,359 | 211,879 | 139,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,616 | ' | 7,616 | ' | ' | ' | ' | ' | ' | ' | ||||
Impaired Financing Receivable, Recorded Investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131,622 | [1] | 318,288 | [1] | 131,622 | [1] | 318,288 | [1] | ' | ' | ' | ' | ' | ' | ' |
Default rate | ' | ' | ' | ' | ' | ' | ' | ' | 9.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.90% | 4.60% | 7.30% | ' | ' | ' | ' | ||||
Prepayment rate | ' | ' | ' | ' | ' | ' | ' | ' | 7.40% | 5.80% | 10.20% | ' | ' | ' | ' | ' | 9.70% | 6.10% | 57.10% | ' | ' | ' | ' | 6.80% | 6.60% | 7.00% | ' | ' | ' | ' | ||||
Cost to service rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.40% | 49.40% | 551.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Closing (pull-through) rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55.70% | 0.00% | 98.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Cap grid rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 0.40% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Loss severity rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71.10% | 49.20% | 93.00% | ' | ' | ' | ' | ||||
Fair Value Inputs, Comparability Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.30% | 0.00% | 100.00% | 8.00% | ||||
Other Real Estate, Fair Value Disclosure | $21,113 | ' | $52,798 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21,113 | $52,798 | ' | ' | ' | ' | ' | ' | ' | ||||
[1] | Total gains (losses) represent charge-offs on impaired loans for which adjustments are based on the appraised value of the collateral. |
Fair_Value_of_Financial_Instru8
Fair Value of Financial Instruments - Carrying value and estimated fair value (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $3,264,202 | $3,598,460 | $4,114,854 | $6,158,442 |
Trading account assets | 356,889 | 319,930 | ' | ' |
Investment securities available for sale | 8,972,237 | 8,313,085 | ' | ' |
Investment securities held to maturity | 1,448,192 | 1,519,196 | ' | ' |
Investment securities held to maturity, estimated fair value | 1,356,799 | 1,405,258 | ' | ' |
Loans held for sale | 211,879 | 147,109 | ' | ' |
Loans Held for Sale - Fair Value | 211,879 | 139,750 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 419,639 | 413,111 | ' | ' |
Other assets | 878,743 | 893,274 | ' | ' |
Deposits | 58,118,406 | 54,437,490 | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase | 864,263 | 852,570 | ' | ' |
Other short-term borrowings | 15,705 | 5,591 | ' | ' |
Derivative liabilities | 302,636 | 285,704 | ' | ' |
Fair Value, Inputs, Level 1 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, estimated fair value | 3,264,202 | 3,598,460 | ' | ' |
Investment securities available for sale | 37,109 | 40,340 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 141 | ' | ' | ' |
Fair Value, Inputs, Level 2 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Trading account assets | 355,180 | 318,285 | ' | ' |
Investment securities available for sale | 8,434,177 | 7,760,612 | ' | ' |
Loans Held for Sale - Fair Value | 211,879 | 139,750 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 125,701 | 122,004 | ' | ' |
Deposits, estimated fair value | 58,169,917 | 54,492,651 | ' | ' |
FHLB and other borrowings, estimated fair value | 3,960,161 | 4,287,220 | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, estimated fair value | 864,263 | 852,570 | ' | ' |
Other short-term borrowings, estimated fair value | 15,705 | 5,591 | ' | ' |
Trading account liabilities | 242,440 | 228,757 | ' | ' |
Derivative liabilities | 74,723 | 61,237 | ' | ' |
Fair Value, Inputs, Level 3 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Trading account assets | 1,709 | 1,645 | ' | ' |
Investment securities available for sale | 500,951 | 512,133 | ' | ' |
Investment securities held to maturity, estimated fair value | 1,356,799 | 1,405,258 | ' | ' |
Loans Held for Sale - Fair Value | 0 | 7,359 | ' | ' |
Loans, net, estimated fair value | 51,502,147 | 47,822,339 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 3,822 | 947 | ' | ' |
Other assets, estimated fair value | 31,104 | 30,065 | ' | ' |
Derivative liabilities | 1 | 57 | ' | ' |
Reported value measurement | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 3,264,202 | 3,598,460 | ' | ' |
Trading account assets | 356,889 | 319,930 | ' | ' |
Investment securities available for sale | 8,972,237 | 8,313,085 | ' | ' |
Investment securities held to maturity | 1,448,192 | 1,519,196 | ' | ' |
Loans held for sale | 211,879 | 147,109 | ' | ' |
Loans and Leases Receivable, Net Amount | 53,371,033 | 49,966,297 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 129,664 | 122,951 | ' | ' |
Other assets | 31,104 | 30,065 | ' | ' |
Deposits | 58,118,406 | 54,437,490 | ' | ' |
FHLB and other borrowings | 3,958,497 | 4,298,707 | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase | 864,263 | 852,570 | ' | ' |
Other short-term borrowings | 15,705 | 5,591 | ' | ' |
Trading Liabilities | 242,440 | 228,757 | ' | ' |
Derivative liabilities | 74,724 | 61,294 | ' | ' |
Estimate of fair value measurement | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, estimated fair value | 3,264,202 | 3,598,460 | ' | ' |
Trading account assets | 356,889 | 319,930 | ' | ' |
Investment securities available for sale | 8,972,237 | 8,313,085 | ' | ' |
Investment securities held to maturity, estimated fair value | 1,356,799 | 1,405,258 | ' | ' |
Loans Held for Sale - Fair Value | 211,879 | 147,109 | ' | ' |
Loans, net, estimated fair value | 51,502,147 | 47,822,339 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 129,664 | 122,951 | ' | ' |
Other assets, estimated fair value | 31,104 | 30,065 | ' | ' |
Deposits, estimated fair value | 58,169,917 | 54,492,651 | ' | ' |
FHLB and other borrowings, estimated fair value | 3,960,161 | 4,287,220 | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, estimated fair value | 864,263 | 852,570 | ' | ' |
Other short-term borrowings, estimated fair value | 15,705 | 5,591 | ' | ' |
Trading account liabilities | 242,440 | 228,757 | ' | ' |
Derivative liabilities | 74,724 | 61,294 | ' | ' |
Fair Value, measurements, recurring | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Trading account assets | 356,889 | 319,930 | ' | ' |
Investment securities available for sale | 8,471,292 | 7,800,958 | ' | ' |
Loans Held for Sale - Fair Value | 211,879 | 139,750 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 129,664 | 122,951 | ' | ' |
Trading account liabilities | 242,440 | 228,757 | ' | ' |
Derivative liabilities | 74,724 | 61,294 | ' | ' |
Fair Value, measurements, recurring | Fair Value, Inputs, Level 1 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Investment securities available for sale | 37,109 | 40,340 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 141 | ' | ' | ' |
Fair Value, measurements, recurring | Fair Value, Inputs, Level 2 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Trading account assets | 355,180 | 318,285 | ' | ' |
Investment securities available for sale | 8,434,177 | 7,760,612 | ' | ' |
Loans Held for Sale - Fair Value | 211,879 | 139,750 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 125,701 | 122,004 | ' | ' |
Trading account liabilities | 242,440 | 228,757 | ' | ' |
Derivative liabilities | 74,723 | 61,237 | ' | ' |
Fair Value, measurements, recurring | Fair Value, Inputs, Level 3 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Trading account assets | 1,709 | 1,645 | ' | ' |
Investment securities available for sale | 6 | 6 | ' | ' |
Derivative assets, total derivatives subject to a master netting arrangement, gross amounts recognized | 3,822 | 947 | ' | ' |
Other assets | 31,104 | 30,065 | ' | ' |
Derivative liabilities | $1 | $57 | ' | ' |
Comprehensive_Income_Details
Comprehensive Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during period from securities available for sale, pretax | $40,454 | ($140,662) | $81,416 | ($145,611) |
Unrealized holding gains (losses) arising during period from securities available for sale, tax expense (benefit) | 14,539 | -51,485 | 29,261 | -53,294 |
Unrealized holding gains (losses) arising during period from securities available for sale, after tax | 25,915 | -89,177 | 52,155 | -92,317 |
Less: reclassification adjustment for net gains on sale of securities in net income, pretax | 21,464 | 18,075 | 37,898 | 33,030 |
Less: reclassification adjustment for net gains on sale of securities in net income, tax expense (benefit) | 7,712 | 6,623 | 13,620 | 12,089 |
Less: reclassification adjustment for net gains on sale of securities in net income, after tax | 13,752 | 11,452 | 24,278 | 20,941 |
Net change in unrealized gains (losses) on securities available for sale, pretax | 18,990 | -158,737 | 43,518 | -178,641 |
Net change in unrealized gains (losses) on securities available for sale, tax expense (benefit) | 6,827 | -58,108 | 15,641 | -65,383 |
Net change in unrealized holding gains (losses) on securities available for sale | 12,163 | -100,629 | 27,877 | -113,258 |
Change in unamortized net holding losses on investment securities held to maturity, pretax | 2,694 | 5,789 | 7,468 | 9,535 |
Change in unamortized net holding losses on investment securities held to maturity, tax expense (benefit) | 967 | 2,121 | 2,683 | 3,490 |
Change in unamortized net holding losses on investment securities held to maturity, after tax | 1,727 | 3,668 | 4,785 | 6,045 |
Less: non-credit related impairment on investment securities held to maturity, pretax | 0 | 2,288 | 235 | 2,288 |
Less: non-credit related impairment on investment securities held to maturity, tax expense (benefit) | 0 | 838 | 84 | 838 |
Less: non-credit related impairment on investment securities held to maturity, after tax | 0 | 1,450 | 151 | 1,450 |
Change in unamortized non-credit related impairment on investment securities held to maturity, pretax | 369 | 72 | 754 | 1,713 |
Change in unamortized non-credit related impairment on investment securities held to maturity, tax expense (benefit) | 132 | 27 | 271 | 627 |
Change in unamortized non-credit related impairment on investment securities held to maturity, after tax | 237 | 45 | 483 | 1,086 |
Net change in unamortized holding losses on securities held to maturity, pretax | 3,063 | 3,573 | 7,987 | 8,960 |
Net change in unamortized holding losses on securities held to maturity, tax expense (benefit) | 1,099 | 1,310 | 2,870 | 3,279 |
Net change in unamortized holding losses on securities held to maturity | 1,964 | 2,263 | 5,117 | 5,681 |
Unrealized holding gains (losses) arising during period from cash flow hedge instruments, pretax | -1,365 | 7,662 | -2,626 | 9,842 |
Unrealized holding gains (losses) arising during period from cash flow hedge instruments, tax expense (benefit) | -490 | 2,780 | -944 | 3,577 |
Unrealized holding gains (losses) arising during period from cash flow hedge instruments, after tax | -875 | 4,882 | -1,682 | 6,265 |
Change in defined benefit plans, pretax | 0 | 0 | -2,672 | 1,017 |
Change in defined benefit plans, tax expense (benefit) | 0 | -36 | -1,001 | 337 |
Change in defined benefit plans, after tax | 0 | 36 | -1,671 | 680 |
Other comprehensive income (loss), pretax | 20,688 | -147,502 | 46,207 | -158,822 |
Other comprehensive income (loss), tax expense (benefit) | 7,436 | -54,054 | 16,566 | -58,190 |
Other comprehensive income (loss), net of tax | $13,252 | ($93,448) | $29,641 | ($100,632) |
Comprehensive_Income_AOCI_Deta
Comprehensive Income - AOCI (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Beginning balance | ' | ' | ($87,936) | $26,058 |
Other comprehensive income (loss) before reclassifications | ' | ' | 49,215 | -88,951 |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | -19,574 | -11,681 |
Other comprehensive income (loss), net of tax | 13,252 | -93,448 | 29,641 | -100,632 |
Ending balance | -58,295 | -74,574 | -58,295 | -74,574 |
Unrealized Gains (Losses) on Securities Available for Sale and Transferred to Held to Maturity | ' | ' | ' | ' |
Accumulated Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Beginning balance | ' | ' | -31,490 | 86,379 |
Other comprehensive income (loss) before reclassifications | ' | ' | 52,155 | -92,317 |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | -19,493 | -14,896 |
Other comprehensive income (loss), net of tax | ' | ' | 32,662 | -107,213 |
Ending balance | 1,172 | -20,834 | 1,172 | -20,834 |
Accumulated (Gains) Losses on Cash Flow Hedging Instruments | ' | ' | ' | ' |
Accumulated Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Beginning balance | ' | ' | -5,289 | -13,387 |
Other comprehensive income (loss) before reclassifications | ' | ' | -2,789 | 4,816 |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | 1,107 | 1,449 |
Other comprehensive income (loss), net of tax | ' | ' | -1,682 | 6,265 |
Ending balance | -6,971 | -7,122 | -6,971 | -7,122 |
Defined Benefit Plan Adjustment | ' | ' | ' | ' |
Accumulated Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Beginning balance | ' | ' | -41,921 | -38,243 |
Other comprehensive income (loss) before reclassifications | ' | ' | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | -1,671 | 680 |
Other comprehensive income (loss), net of tax | ' | ' | -1,671 | 680 |
Ending balance | -43,592 | -37,563 | -43,592 | -37,563 |
Unamortized Impairment Losses on Investment Securities Held to Maturity | ' | ' | ' | ' |
Accumulated Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Beginning balance | ' | ' | -9,236 | -8,691 |
Other comprehensive income (loss) before reclassifications | ' | ' | -151 | -1,450 |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | 483 | 1,086 |
Other comprehensive income (loss), net of tax | ' | ' | 332 | -364 |
Ending balance | ($8,904) | ($9,055) | ($8,904) | ($9,055) |
Comprehensive_Income_Reclassif
Comprehensive Income - Reclassifications out of AOCI (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||||
Interest on investment securities held to maturity | $7,003 | $7,686 | $14,249 | $15,431 | ||||
Interest and fees on loans | 520,516 | 528,116 | 1,029,022 | 1,067,870 | ||||
Interest and fees on FHLB advances | -16,184 | -16,149 | -32,548 | -31,941 | ||||
Net income (loss) before income tax expense (benefit) | 143,705 | 180,391 | 302,199 | 343,434 | ||||
Income tax (expense) benefit | -36,130 | -51,596 | -79,697 | -104,103 | ||||
Net income | 107,575 | 128,795 | 222,502 | 239,331 | ||||
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Securities Available for Sale and Transferred to Held to Maturity | ' | ' | ' | ' | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||||
Investment securities gains, net | 21,464 | [1] | 18,075 | [1] | 37,898 | [1] | 33,030 | [1] |
Interest on investment securities held to maturity | -2,694 | [1] | -5,789 | [1] | -7,468 | [1] | -9,535 | [1] |
Net income (loss) before income tax expense (benefit) | 18,770 | [1] | 12,286 | [1] | 30,430 | [1] | 23,495 | [1] |
Income tax (expense) benefit | -6,745 | [1] | -4,502 | [1] | -10,937 | [1] | -8,599 | [1] |
Net income | 12,025 | [1] | 7,784 | [1] | 19,493 | [1] | 14,896 | [1] |
Reclassification out of Accumulated Other Comprehensive Income | Accumulated (Gains) Losses on Cash Flow Hedging Instruments | ' | ' | ' | ' | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||||
Interest and fees on loans | 1,212 | [1] | 591 | [1] | 1,824 | [1] | 1,180 | [1] |
Interest and fees on FHLB advances | -1,776 | [1] | -1,734 | [1] | -3,551 | [1] | -3,456 | [1] |
Net income (loss) before income tax expense (benefit) | -564 | [1] | -1,143 | [1] | -1,727 | [1] | -2,276 | [1] |
Income tax (expense) benefit | 203 | [1] | 416 | [1] | 620 | [1] | 827 | [1] |
Net income | -361 | [1] | -727 | [1] | -1,107 | [1] | -1,449 | [1] |
Reclassification out of Accumulated Other Comprehensive Income | Defined Benefit Plan Adjustment | ' | ' | ' | ' | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||||
Net periodic expense | 0 | [1],[2] | 0 | [1],[2] | 2,672 | [1],[2] | -1,017 | [1],[2] |
Income tax (expense) benefit | 0 | [1] | -36 | [1] | -1,001 | [1] | 337 | [1] |
Net income | 0 | [1] | -36 | [1] | 1,671 | [1] | -680 | [1] |
Reclassification out of Accumulated Other Comprehensive Income | Unamortized Impairment Losses on Investment Securities Held to Maturity | ' | ' | ' | ' | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||||
Interest on investment securities held to maturity | -369 | [1] | -72 | [1] | -754 | [1] | -1,713 | [1] |
Income tax (expense) benefit | 132 | [1] | 27 | [1] | 271 | [1] | 627 | [1] |
Net income | ($237) | [1] | ($45) | [1] | ($483) | [1] | ($1,086) | [1] |
[1] | Amounts in parentheses indicate debits to the consolidated statement of income. | |||||||
[2] | These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 18, Benefit Plans, in the Notes to the December 31, 2013, Consolidated Financial Statements for additional details). |
Supplemental_Disclosure_for_St2
Supplemental Disclosure for Statement of Cash Flows (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Supplemental disclosures of cash flow information: | ' | ' |
Interest paid | $134,941 | $132,366 |
Net income taxes paid | 28,025 | 72,124 |
Supplemental schedule of noncash investing and financing activities: | ' | ' |
Transfer of loans and loans held for sale to OREO | 11,614 | 20,220 |
Transfer of loans to loans held for sale | 0 | 55,000 |
Change in unrealized gain (loss) on available for sale securities | 43,518 | -178,641 |
Issuance of restricted stock, net of cancellations | -1,060 | -596 |
Entities acquired: | ' | ' |
Assets acquired | 117,068 | 0 |
Liabilities assumed | $18,329 | $0 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | $498,774 | $510,315 | $994,073 | $1,033,261 |
Allocated provision for loan losses | 45,252 | 24,237 | 82,518 | 43,852 |
Noninterest income | 235,445 | 249,013 | 454,773 | 454,390 |
Noninterest expense | 545,262 | 554,700 | 1,064,129 | 1,100,365 |
Net income (loss) before income tax expense (benefit) | 143,705 | 180,391 | 302,199 | 343,434 |
Income tax expense (benefit) | 36,130 | 51,596 | 79,697 | 104,103 |
Net income | 107,575 | 128,795 | 222,502 | 239,331 |
Less: net income attributable to noncontrolling interests | 504 | 568 | 957 | 961 |
Net income attributable to shareholder | 107,071 | 128,227 | 221,545 | 238,370 |
Average assets | 76,004,941 | 69,944,558 | 74,689,351 | 69,900,139 |
Wealth and Retail Banking | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Number of Banking Centers the Entity Operates | 673 | ' | 673 | ' |
Corporate, Non-Segment | Corporate Support and Other | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 64,692 | 121,917 | 142,883 | 267,380 |
Allocated provision for loan losses | 1,472 | -4,322 | 4,623 | 3,988 |
Noninterest income | -59,042 | -58,557 | -127,500 | -101,972 |
Noninterest expense | 65,596 | 83,717 | 114,507 | 180,235 |
Net income (loss) before income tax expense (benefit) | -61,418 | -16,035 | -103,747 | -18,815 |
Income tax expense (benefit) | -40,278 | -22,285 | -71,517 | -32,251 |
Net income | -21,140 | 6,250 | -32,230 | 13,436 |
Less: net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to shareholder | -21,140 | 6,250 | -32,230 | 13,436 |
Average assets | 7,472,839 | 7,879,334 | 7,448,998 | 7,882,747 |
Operating Segments | Wealth and Retail Banking | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 205,994 | 201,028 | 409,983 | 400,361 |
Allocated provision for loan losses | 18,638 | 22,555 | 46,865 | 51,334 |
Noninterest income | 167,013 | 165,737 | 324,151 | 319,822 |
Noninterest expense | 319,388 | 326,703 | 637,662 | 637,745 |
Net income (loss) before income tax expense (benefit) | 34,981 | 17,507 | 49,607 | 31,104 |
Income tax expense (benefit) | 13,031 | 6,510 | 18,478 | 11,567 |
Net income | 21,950 | 10,997 | 31,129 | 19,537 |
Less: net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to shareholder | 21,950 | 10,997 | 31,129 | 19,537 |
Average assets | 21,485,600 | 19,995,978 | 21,279,485 | 19,879,500 |
Operating Segments | Commercial Banking | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 211,964 | 187,351 | 409,951 | 367,934 |
Allocated provision for loan losses | 26,493 | 4,489 | 33,075 | -13,732 |
Noninterest income | 60,394 | 62,632 | 126,298 | 111,285 |
Noninterest expense | 119,173 | 109,898 | 238,145 | 217,422 |
Net income (loss) before income tax expense (benefit) | 126,692 | 135,596 | 265,029 | 275,529 |
Income tax expense (benefit) | 47,192 | 50,519 | 98,723 | 102,649 |
Net income | 79,500 | 85,077 | 166,306 | 172,880 |
Less: net income attributable to noncontrolling interests | 65 | 122 | 82 | 75 |
Net income attributable to shareholder | 79,435 | 84,955 | 166,224 | 172,805 |
Average assets | 29,738,664 | 25,095,054 | 29,222,559 | 24,709,118 |
Operating Segments | Corporate and Investment Banking | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 15,075 | 13,532 | 27,896 | 26,302 |
Allocated provision for loan losses | -1,351 | 1,477 | -2,045 | 2,224 |
Noninterest income | 41,325 | 32,096 | 84,054 | 58,333 |
Noninterest expense | 37,708 | 30,583 | 66,778 | 57,992 |
Net income (loss) before income tax expense (benefit) | 20,043 | 13,568 | 47,217 | 24,419 |
Income tax expense (benefit) | 7,466 | 5,054 | 17,588 | 9,096 |
Net income | 12,577 | 8,514 | 29,629 | 15,323 |
Less: net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to shareholder | 12,577 | 8,514 | 29,629 | 15,323 |
Average assets | 4,569,657 | 3,104,494 | 4,200,964 | 3,015,608 |
Operating Segments | Treasury | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net interest income | 1,049 | -13,513 | 3,360 | -28,716 |
Allocated provision for loan losses | 0 | 38 | 0 | 38 |
Noninterest income | 25,755 | 47,105 | 47,770 | 66,922 |
Noninterest expense | 3,397 | 3,799 | 7,037 | 6,971 |
Net income (loss) before income tax expense (benefit) | 23,407 | 29,755 | 44,093 | 31,197 |
Income tax expense (benefit) | 8,719 | 11,798 | 16,425 | 13,042 |
Net income | 14,688 | 17,957 | 27,668 | 18,155 |
Less: net income attributable to noncontrolling interests | 439 | 446 | 875 | 886 |
Net income attributable to shareholder | 14,249 | 17,511 | 26,793 | 17,269 |
Average assets | $12,738,181 | $13,869,698 | $12,537,345 | $14,413,166 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (BBVA, USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives designated as hedging instrument | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related party transaction, amount of transaction | $2,848 | $3,652 |
Derivatives not designated as hedging instrument | Free-standing derivative instruments – risk management and other purposes | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related party transaction, amount of transaction | 18,477 | 21,650 |
Derivatives not designated as hedging instrument | Free-standing derivative instruments – customer accommodation | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related party transaction, amount of transaction | ($24,431) | ($842) |