Document_and_Entity_Informatio
Document and Entity Information Document | 6 Months Ended | |
Jun. 30, 2014 | Jul. 28, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'FIRSTMERIT CORP /OH/ | ' |
Entity Central Index Key | '0000354869 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large 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 | ' | 165,394,486 |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
ASSETS | ' | ' | ' |
Cash and due from banks | $523,027 | $571,171 | $421,836 |
Interest-bearing deposits in banks | 119,543 | 346,651 | 487,654 |
Total cash and cash equivalents | 642,570 | 917,822 | 909,490 |
Investment securities: | ' | ' | ' |
Held-to-maturity | 3,052,118 | 2,935,688 | 2,551,860 |
Available-for-sale | 3,478,420 | 3,273,174 | 3,299,392 |
Other investments | 148,433 | 180,803 | 267,565 |
Loans held for sale | 21,632 | 11,622 | 22,855 |
Loans | 14,969,627 | 14,300,972 | 14,143,423 |
Allowance for loan losses | -142,036 | -141,252 | -147,714 |
Net loans | 14,827,591 | 14,159,720 | 13,995,709 |
Premises and equipment, net | 315,770 | 327,054 | 316,877 |
Goodwill | 741,740 | 741,740 | 741,740 |
Intangible assets | 76,886 | 82,755 | 88,419 |
Covered other real estate | 51,072 | 65,234 | 67,786 |
Accrued interest receivable and other assets | 1,208,199 | 1,216,416 | 1,273,180 |
Total assets | 24,564,431 | 23,912,028 | 23,534,873 |
Deposits: | ' | ' | ' |
Noninterest-bearing | 5,525,484 | 5,459,029 | 5,277,647 |
Interest-bearing | 3,028,479 | 3,026,735 | 2,504,368 |
Savings and money market accounts | 8,476,096 | 8,587,167 | 8,520,806 |
Certificates and other time deposits | 2,268,337 | 2,460,670 | 2,816,901 |
Total deposits | 19,298,396 | 19,533,601 | 19,119,722 |
Federal funds purchased and securities sold under agreements to repurchase | 1,218,855 | 851,535 | 844,871 |
Wholesale borrowings | 649,021 | 200,600 | 201,337 |
Long-term debt | 324,433 | 324,428 | 324,422 |
Accrued taxes, expenses and other liabilities | 281,988 | 298,970 | 393,612 |
Total liabilities | 21,772,693 | 21,209,134 | 20,883,964 |
Shareholders' equity: | ' | ' | ' |
Preferred Stock, Value, Issued | 100,000 | 100,000 | 100,000 |
Common Stock warrant | 3,000 | 3,000 | 3,000 |
Common Stock, without par value; authorized 300,000,000 shares; issued: June 30, 2014 and December 31, 2013 - 170,183,540 shares; June 30, 2013 - 170,179,911 shares | 127,937 | 127,937 | 127,937 |
Capital surplus | 1,387,253 | 1,390,643 | 1,386,063 |
Accumulated other comprehensive loss | -39,507 | -66,876 | -71,897 |
Retained earnings | 1,335,371 | 1,277,975 | 1,235,530 |
Treasury stock, at cost: June 30, 2014 - 4,790,517 December 31, 2013 - 5,127,332 shares; June 30, 2013 - 5,134,463 shares | -122,316 | -129,785 | -129,724 |
Total shareholders' equity | 2,791,738 | 2,702,894 | 2,650,909 |
Total liabilities and shareholders' equity | $24,564,431 | $23,912,028 | $23,534,873 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets Parenthetical | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Common stock, shares authorized | 300,000,000 | 300,000,000 | 300,000,000 |
Common stock, shares issued | 170,183,540 | 170,183,540 | 115,121,731 |
Non-cumulative Perpetual Preferred Stock, Series A, Shares Authorized | 115,000 | 115,000 | 0 |
5.875% Non-Cumulative Perpetual Preferred stock, Series A, 100,000 outstanding | 100,000 | 100,000 | 0 |
Treasury stock, at cost | 4,790,517 | 5,127,332 | 5,375,905 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income: | ' | ' | ' | ' |
Loans and loans held for sale | $172,517 | $178,535 | $343,030 | $277,206 |
Investment securities: | ' | ' | ' | ' |
Taxable | 32,253 | 29,138 | 64,275 | 48,377 |
Tax-exempt | 5,555 | 6,098 | 10,895 | 10,143 |
Total investment securities interest | 37,808 | 35,236 | 75,170 | 58,520 |
Total interest income | 210,325 | 213,771 | 418,200 | 335,726 |
Undistributed Earnings Allocated to Participating Securities | 489 | 383 | 926 | 813 |
Interest expense: | ' | ' | ' | ' |
Interest bearing | 745 | 656 | 1,481 | 974 |
Savings and money market accounts | 5,477 | 6,469 | 11,035 | 11,784 |
Certificates and other time deposits | 3,009 | 3,374 | 5,473 | 5,437 |
Securities sold under agreements to repurchase | 233 | 329 | 429 | 642 |
Wholesale borrowings | 1,391 | 1,169 | 2,520 | 2,019 |
Long-term debt | 3,893 | 3,743 | 7,783 | 5,491 |
Total interest expense | 14,748 | 15,740 | 28,721 | 26,347 |
Net interest income | 195,577 | 198,031 | 389,479 | 309,379 |
Provision for Loan and Lease Losses | 15,253 | 7,309 | 29,790 | 17,256 |
Net interest income after provision for loan losses | 180,324 | 190,722 | 359,689 | 292,123 |
Noninterest income: | ' | ' | ' | ' |
Trust department income | 10,070 | 9,167 | 19,818 | 14,907 |
Service charges on deposits | 18,528 | 20,582 | 35,176 | 33,168 |
Credit card fees | 13,455 | 14,317 | 25,607 | 24,540 |
ATM and other service fees | 5,996 | 4,945 | 11,816 | 8,280 |
Bank owned life insurance income | 4,040 | 3,641 | 7,622 | 8,538 |
Investment services and insurance | 3,852 | 3,429 | 7,368 | 5,844 |
Investment securities gains/(losses), net | 80 | -2,794 | 136 | -2,803 |
Loan sales and servicing income | 4,462 | 7,985 | 8,192 | 15,848 |
Other operating income | 12,077 | 8,167 | 24,096 | 18,510 |
Total noninterest income | 72,560 | 69,439 | 139,831 | 126,832 |
Noninterest expense: | ' | ' | ' | ' |
Salaries, wages, pension and employee benefits | 89,465 | 105,099 | 178,478 | 163,005 |
Net occupancy expense | 14,347 | 13,346 | 31,361 | 21,628 |
Equipment expense | 12,267 | 10,309 | 24,178 | 17,659 |
Stationery, supplies and postage | 3,990 | 3,407 | 8,097 | 5,503 |
Bankcard, loan processing and other costs | 11,810 | 12,417 | 22,644 | 20,257 |
Professional services | 4,745 | 17,144 | 10,103 | 22,554 |
Amortization of intangibles | 2,933 | 2,411 | 5,869 | 2,728 |
FDIC insurance expense | 5,533 | 4,149 | 11,504 | 7,675 |
Other operating expense | 22,310 | 20,606 | 44,499 | 34,025 |
Total noninterest expense | 167,400 | 188,888 | 336,733 | 295,034 |
Income before income tax expense | 85,484 | 71,273 | 162,787 | 123,921 |
Income tax expense | 25,965 | 22,823 | 49,813 | 38,125 |
Net income | 59,519 | 48,450 | 112,974 | 85,796 |
Net income attributable to common shareholders | 57,561 | 46,598 | 109,110 | 82,584 |
Dividends, Preferred Stock | 1,469 | 1,469 | ' | 2,399 |
Preferred Stock Dividends, Income Statement Impact | ' | ' | 2,938 | ' |
Net income used in diluted EPS calculation | $57,561 | $46,598 | $109,110 | $82,584 |
Weighted average number of common shares outstanding - basic | 165,335 | 157,863 | 165,198 | 133,909 |
Weighted average number of common shares outstanding - diluted | 166,147 | 158,390 | 166,052 | 134,406 |
Basic earnings per common share | $0.35 | $0.30 | $0.66 | $0.62 |
Diluted earnings per common share | $0.35 | $0.29 | $0.66 | $0.61 |
Dividend per common share | $0.16 | $0.16 | $0.32 | $0.32 |
Statement_of_Comprehensive_Inc
Statement of Comprehensive Income Statement of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | $85,484 | $71,273 | $162,787 | $123,921 |
Income Tax Expense (Benefit) | 25,965 | 22,823 | 49,813 | 38,125 |
Net income | 59,519 | 48,450 | 112,974 | 85,796 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 22,456 | -75,729 | 40,500 | -87,362 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 7,860 | -26,505 | 14,175 | -30,577 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 14,596 | -49,224 | 26,325 | -56,785 |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, before Tax | -494 | -568 | -988 | -1,120 |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Tax | -173 | -199 | -346 | -392 |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax | -321 | -369 | -642 | -728 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | -80 | 2,794 | -136 | 2,803 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | -28 | 978 | -48 | 982 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | -52 | 1,816 | -88 | 1,821 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax | 21,882 | -73,503 | 39,376 | -85,679 |
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax | 7,659 | -25,726 | 13,781 | -29,987 |
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax | 14,223 | -47,777 | 25,595 | -55,692 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income Defined benefit plan, amortization of gains, before tax | 1,631 | 0 | 1,631 | 0 |
Other comprehensive Income, Defined Benefit Plan, Amortization of Gains, tax | 571 | 0 | 571 | 0 |
Other Comprehensive Income, Defined benefit plan, amortization of gains, after tax | 1,060 | 0 | 1,060 | 0 |
Other Comprehensive Income (Loss), before Tax | 24,610 | -73,503 | 42,104 | -85,679 |
Other Comprehensive Income (Loss), Tax | 8,613 | -25,726 | 14,735 | -29,987 |
Other Comprehensive Income (Loss), Net of Tax | 15,997 | -47,777 | 27,369 | -55,692 |
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent | 110,094 | -2,230 | 204,891 | 38,242 |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 34,578 | -2,903 | 64,548 | 8,138 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 75,516 | 673 | 140,343 | 30,104 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax | 383 | 0 | 383 | 0 |
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Net of Tax | 714 | 0 | 714 | 0 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | 2,728 | 0 | 2,728 | 0 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | 954 | 0 | 954 | 0 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 1,774 | 0 | 1,774 | 0 |
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), before Tax | $1,097 | $0 | $1,097 | $0 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Preferred Stock | Common Stock | Warrant | Capital Surplus | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Treasury Stock |
In Thousands | ||||||||
Beginning Balance at Dec. 31, 2012 | $1,645,202 | $0 | $127,937 | $0 | $475,979 | ($16,205) | $1,195,850 | ($138,359) |
Net income | 85,796 | ' | ' | ' | ' | ' | 85,796 | ' |
Other Comprehensive Income (Loss), Net of Tax | -55,692 | ' | ' | ' | ' | -55,692 | ' | ' |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 30,104 | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 30,105 | ' | ' | ' | ' | ' | ' | ' |
Dividends, Preferred Stock, Cash | -2,399 | ' | ' | ' | ' | ' | -2,399 | ' |
Cash dividends - common stock | -43,717 | ' | ' | ' | ' | ' | -43,717 | ' |
Stock Issued During Period, Value, Acquisitions | 925,272 | ' | ' | ' | ' | ' | ' | ' |
Nonvested (restricted) shares granted | -6,813 | ' | ' | ' | -19,094 | ' | ' | 12,281 |
Restricted Stock Activity | -2,506 | ' | ' | ' | 894 | ' | ' | -3,400 |
Deferred compensation trust | 0 | ' | ' | ' | 246 | ' | ' | -246 |
Share-based compensation | 6,216 | ' | ' | ' | 6,216 | ' | ' | ' |
Issuance of preferred stock | 96,550 | 100,000 | ' | ' | -3,450 | ' | ' | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | 3,000 | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Jun. 30, 2013 | 2,650,909 | 100,000 | 127,937 | 3,000 | 1,386,063 | -71,896 | 1,235,530 | -129,724 |
Beginning Balance at Dec. 31, 2013 | 2,702,894 | 100,000 | 127,937 | 3,000 | 1,390,643 | -66,876 | 1,277,975 | -129,785 |
Net income | 112,974 | ' | ' | 0 | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | 27,369 | ' | ' | ' | ' | ' | ' | ' |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 140,343 | 0 | 0 | 0 | 0 | 27,369 | 112,974 | 0 |
Dividends, Preferred Stock, Cash | -2,938 | 0 | 0 | 0 | 0 | 0 | -2,938 | 0 |
Cash dividends - common stock | -52,640 | ' | ' | 0 | ' | ' | -52,640 | ' |
Stock Issued During Period, Value, Acquisitions | 0 | ' | ' | ' | ' | ' | ' | ' |
Nonvested (restricted) shares granted | 99 | ' | ' | 0 | -12,993 | ' | ' | 13,092 |
Restricted Stock Activity | -4,221 | ' | ' | 0 | 802 | ' | ' | -5,023 |
Deferred compensation trust | 0 | ' | ' | 0 | 600 | ' | ' | -600 |
Share-based compensation | 8,201 | ' | ' | 0 | 8,201 | ' | ' | 0 |
Adjustments to Additional Paid in Capital, Warrant Issued | 0 | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Jun. 30, 2014 | $2,791,738 | $100,000 | $127,937 | $3,000 | $1,387,253 | ($39,507) | $1,335,371 | ($122,316) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (parenthetical) (USD $) | 6 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Common Stock, Dividends, Per Share, Cash Paid | $0.16 | $0.32 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 82,241 | 532,282 |
Treasury Stock, Shares, Acquired | 51,066 | 193,830 |
Stock Issued During Period, Shares, Treasury Stock Reissued | 1,967 | 144,923 |
Other Comprehensive Income (Loss), Net of Tax | $27,369 | ($55,692) |
Stockholders' Equity Attributable to Parent | $2,791,738 | $2,650,909 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Stock Issued During Period, Value, Acquisitions | $0 | $925,272 |
Cash Flows, non-cash transaction-Stock issued during period | ' | 925,211 |
Adjustments to Additional Paid in Capital, Warrant Issued | 0 | 3,000 |
Operating Activities | ' | ' |
Net income | 112,974 | 85,796 |
Adjustments to reconcile net income to net cash provided and used by operating activities: | ' | ' |
Provision for loan losses | 29,790 | 17,256 |
Deferred Income Tax Expense (Benefit) | 13,352 | -25,502 |
Depreciation, Depletion and Amortization | 25,450 | 17,650 |
Benefit attributable to FDIC loss share | 927 | 7,858 |
Accretion of acquired loans | -74,126 | -54,264 |
Amortization and accretion of investment securities, net | ' | ' |
Available for sale | 4,137 | 12,276 |
Held to maturity | 4,236 | 3,223 |
(Gains)/losses on sales and calls of available-for-sale investment securities, net | -136 | 2,803 |
Originations of loans held for sale | -153,569 | -309,247 |
Proceeds from sales of loans, primarily mortgage loans sold in the secondary markets | 147,015 | 316,750 |
Gains on sales of loans, net | -3,456 | -6,675 |
Amortization of Intangible Assets | 5,869 | 2,728 |
Share-based Compensation | 8,201 | 6,216 |
Net decrease (increase) in other assets | 4,168 | 177,984 |
Net increase in other liabilities | -21,506 | -74,440 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 103,326 | 180,412 |
Proceeds from sale of investment securities | ' | ' |
Available for sale | 8,438 | 2,179,728 |
Proceeds from Sale of Other Investments | 32,487 | 0 |
Held to maturity | 2,495 | 897 |
Proceeds from prepayments, calls, and maturities of investment securities | ' | ' |
Available for sale | 232,087 | 427,115 |
Held to maturity | 151,133 | 73,810 |
Purchases of investment securities | ' | ' |
Available for sale | -411,463 | -711,170 |
Held to maturity | -278,407 | -1,263,297 |
Other | -142 | -280 |
Net (increase)/decrease in loans and leases | -628,735 | 241,478 |
Purchases of premises and equipment | -31,599 | -11,402 |
Sales of premises and equipment | 24,292 | 181 |
Cash Acquired from Acquisition | 0 | 188,948 |
NET CASH (USED) PROVIDED BY INVESTING ACTIVITIES | -899,414 | 1,126,008 |
Financing Activities | ' | ' |
Net increase in demand accounts | 68,199 | 131,262 |
Net (decrease)/increase in savings and money market accounts | -111,071 | 110,152 |
Net decrease in certificates and other time deposits | -192,333 | -157,872 |
Net increase/(decrease) in securities sold under agreements to repurchase | 367,320 | -374,659 |
Proceeds from issuance of subordinated debt | 0 | 249,924 |
Net increase/(decrease) in wholesale borrowings | 448,421 | -654,866 |
Net proceeds from issuance of Preferred Stock | 0 | 96,550 |
Cash dividends - common | -52,640 | -43,717 |
Cash dividends - preferred | -2,938 | -2,399 |
Restricted stock activity | -4,122 | -9,319 |
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES | 520,836 | -654,944 |
(Decrease)/Increase in cash and cash equivalents | -275,252 | 651,476 |
Cash and cash equivalents at beginning of year | 917,822 | 258,014 |
Cash and cash equivalents at end of year | 642,570 | 909,490 |
Cash paid during period for: | ' | ' |
Interest expense | 28,732 | 20,779 |
Federal income taxes | $11,547 | $27,662 |
Significant_Accounting_Policie
Significant Accounting Policies (Notes) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Unless otherwise indicated, defined terms and abbreviations used herein have the meanings set forth in the accompanying Glossary of Acronyms and Abbreviations. | |
Basis of Presentation - FirstMerit Corporation is a BHC whose principal asset is the Common Stock of its wholly-owned subsidiary, FirstMerit Bank, N. A. The Parent Company’s other subsidiaries include Citizens Savings Corporation of Stark County, FirstMerit Capital Trust I, and FirstMerit Risk Management, Inc., FMT, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. | |
The accounting and reporting policies of the Corporation conform to GAAP and to general practices within the financial services industry. | |
The Consolidated Balance Sheet at December 31, 2013 has been derived from the audited consolidated financial statements at that date. The accompanying unaudited interim financial statements reflect all adjustments (consisting only of normally recurring adjustments) that are, in the opinion of Management, necessary for a fair statement of the results for the interim periods presented. Certain reclassifications of prior year’s amounts have been made to conform to the current year presentation. Such reclassifications had no effect on net earnings or equity. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules of the SEC. The unaudited consolidated financial statements of the Corporation as of June 30, 2014 and 2013 are not necessarily indicative of the results that may be achieved for the full fiscal year or for any future period. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2013 (the “2013 Form 10-K”). There have been no significant changes in the current quarter to the Corporation’s accounting policies as disclosed in the 2013 Form 10-K. | |
In preparing these accompanying unaudited interim consolidated financial statements, subsequent events were evaluated through the time the consolidated financial statements were issued. | |
Recently Adopted Accounting Standards | |
FASB ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects. The amendments in ASU 2014-01 do not change the existing accounting methods, but permit reporting entities to make an accounting policy election to account for their investments in qualified affordable 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 (benefit). The amendments in ASU 2014-01 are effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014, and should be applied retrospectively to all periods presented. The Corporation early adopted ASU 2014-01 in the first quarter of 2014. Amortization of the initial investment cost of qualifying projects is now recorded in the provision for income taxes together with the tax credits and benefits received. Previously, the amortization was recorded as other noninterest expense. All prior period amounts have been restated to reflect the adoption of the amendment, which resulted in an offsetting decrease to other noninterest expense and increase to the provision for income taxes of approximately $0.8 million and $1.5 million for the three and six months ended June 30, 2013, respectively. | |
Recently Issued Accounting Standards | |
FASB ASU 2014–12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period — a consensus of the FASB Emerging Issues Task Force. The amendments in this update clarify that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU does not contain any new disclosure requirements. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. In addition, entities will have the option of applying the guidance either prospectively (i.e., only to awards granted or modified on or after the effective date) or retrospectively. Retrospective application would only apply to awards with performance targets outstanding at or after the beginning of the first annual period presented (i.e., the earliest presented comparative period). The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements. | |
FASB ASU 2014-11, Transfers and Servicing: Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this update require entities to account for repurchase-to-maturity transactions as secured borrowings (rather than as sales with forward repurchase agreements), eliminates accounting guidance on linking repurchase financing transactions, and expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers, such as repos, securities lending transactions, and repurchase-to-maturity transactions, accounted for as secured borrowings. The amendments in ASU 2014-11 are effective for the first interim or annual period beginning after December 15, 2014. The amendments must present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Early application is prohibited. The adoption of this accounting guidance is not expected to have a material effect on the Corporation's financial position or results of operations. | |
FASB ASU 2014-09, Revenue from Contracts with Customers. The amendments in this update supersede virtually all existing GAAP revenue recognition guidance, including most industry-specific revenue recognition guidance. ASU 2014-09 creates a single, principle-based revenue recognition framework and will require entities to apply significantly more judgment and expanded disclosures surrounding revenue recognition. The core principle requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 applies to contracts with customers to provide goods and services, with certain exclusions such as lease contracts, financing arrangements, and financial instruments. The amendments in ASU 2014-09 are effective for fiscal years beginning after December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. Early adoption is prohibited. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements. | |
FASB ASU 2014-08, Presentation of Financial Statements and Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in this update change the definition of a discontinued operation in ASC 205-20 and requires additional disclosures for transactions that meet the definition of a discontinued operation and certain other significant transactions that do not meet the discontinued operations criteria. The amendments in ASU 2014-08 are effective prospectively for all disposals, except disposals classified as held for sale before the adoption date or components initially classified as held for sale in periods beginning on or after December 15, 2014, with early adoption permitted. The adoption of this accounting guidance is not expected to have a material effect on the Corporation's financial position or results of operations. | |
FASB ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. ASU 2014-04 amends the guidance in ASC 310-40 by clarifying when 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. Additionally, the amendments require interim and annual disclosure of both 1) the amount of foreclosed residential real estate property held by the creditor and 2) 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 ASU 2014-04 are effective for annual periods, and interim period within those annual periods, beginning after December 15, 2014. The amendments can either be adopted using a modified retrospective or a prospective transition method. The adoption of this accounting guidance is not expected to have a material effect on the Corporation's financial position or results of operations. | |
New Accounting Pronouncements and Changes in Accounting Principles | ' |
Recently Adopted Accounting Standards | |
FASB ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects. The amendments in ASU 2014-01 do not change the existing accounting methods, but permit reporting entities to make an accounting policy election to account for their investments in qualified affordable 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 (benefit). The amendments in ASU 2014-01 are effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014, and should be applied retrospectively to all periods presented. The Corporation early adopted ASU 2014-01 in the first quarter of 2014. Amortization of the initial investment cost of qualifying projects is now recorded in the provision for income taxes together with the tax credits and benefits received. Previously, the amortization was recorded as other noninterest expense. All prior period amounts have been restated to reflect the adoption of the amendment, which resulted in an offsetting decrease to other noninterest expense and increase to the provision for income taxes of approximately $0.8 million and $1.5 million for the three and six months ended June 30, 2013, respectively. | |
Recently Issued Accounting Standards | |
FASB ASU 2014–12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period — a consensus of the FASB Emerging Issues Task Force. The amendments in this update clarify that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU does not contain any new disclosure requirements. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. In addition, entities will have the option of applying the guidance either prospectively (i.e., only to awards granted or modified on or after the effective date) or retrospectively. Retrospective application would only apply to awards with performance targets outstanding at or after the beginning of the first annual period presented (i.e., the earliest presented comparative period). The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements. | |
FASB ASU 2014-11, Transfers and Servicing: Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this update require entities to account for repurchase-to-maturity transactions as secured borrowings (rather than as sales with forward repurchase agreements), eliminates accounting guidance on linking repurchase financing transactions, and expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers, such as repos, securities lending transactions, and repurchase-to-maturity transactions, accounted for as secured borrowings. The amendments in ASU 2014-11 are effective for the first interim or annual period beginning after December 15, 2014. The amendments must present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Early application is prohibited. The adoption of this accounting guidance is not expected to have a material effect on the Corporation's financial position or results of operations. | |
FASB ASU 2014-09, Revenue from Contracts with Customers. The amendments in this update supersede virtually all existing GAAP revenue recognition guidance, including most industry-specific revenue recognition guidance. ASU 2014-09 creates a single, principle-based revenue recognition framework and will require entities to apply significantly more judgment and expanded disclosures surrounding revenue recognition. The core principle requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 applies to contracts with customers to provide goods and services, with certain exclusions such as lease contracts, financing arrangements, and financial instruments. The amendments in ASU 2014-09 are effective for fiscal years beginning after December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. Early adoption is prohibited. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements. | |
FASB ASU 2014-08, Presentation of Financial Statements and Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in this update change the definition of a discontinued operation in ASC 205-20 and requires additional disclosures for transactions that meet the definition of a discontinued operation and certain other significant transactions that do not meet the discontinued operations criteria. The amendments in ASU 2014-08 are effective prospectively for all disposals, except disposals classified as held for sale before the adoption date or components initially classified as held for sale in periods beginning on or after December 15, 2014, with early adoption permitted. The adoption of this accounting guidance is not expected to have a material effect on the Corporation's financial position or results of operations. | |
FASB ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. ASU 2014-04 amends the guidance in ASC 310-40 by clarifying when 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. Additionally, the amendments require interim and annual disclosure of both 1) the amount of foreclosed residential real estate property held by the creditor and 2) 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 ASU 2014-04 are effective for annual periods, and interim period within those annual periods, beginning after December 15, 2014. The amendments can either be adopted using a modified retrospective or a prospective transition method. The adoption of this accounting guidance is not expected to have a material effect on the Corporation's financial position or results of operations. |
Business_Combinations_Notes
Business Combinations (Notes) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Business Combination Disclosure | ' | |||||||||||
Business Combinations | ||||||||||||
The Corporation completed the merger with Citizens, a Michigan corporation with approximately $9.6 billion in assets and 219 branches, in the quarter ended June 30, 2013. All of Citizens' common shareholders received 1.37 shares of the Corporation's Common Stock in exchange for one share of Citizens' common stock, resulting in the Corporation issuing 55,468,283 shares of its Common Stock. In conjunction with the completion of the merger, the Corporation fully repurchased the $300 million of Citizens TARP Preferred plus accumulated but unpaid dividends and interest of approximately $55.4 million previously issued to the U.S. Treasury under the Capital Purchase Program. The Corporation used the net proceeds from its February 4, 2013 public offerings, which consisted of $250 million aggregate principal amount of 4.35% subordinated notes due February 4, 2023, and $100 million 5.875% Non-Cumulative Perpetual Preferred Stock, Series A, to repurchase the Citizens TARP Preferred and pay all accrued, accumulated and unpaid dividends and interest. Additionally, a warrant issued by Citizens to the U.S. Treasury to purchase up to 1,757,812.5 shares of Citizens' common stock has been converted into a warrant issued by the Corporation to the U.S. Treasury to purchase 2,408,203 shares of FirstMerit Common Stock. | ||||||||||||
The Citizens transaction was accounted for using the acquisition method of accounting and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the Acquisition Date. Per the applicable accounting guidance for business combinations, these fair values were subject to refinement for up to one year after the closing date of the acquisition as additional information relative to closing date fair values become available. The measurement period ended on March 31, 2014. | ||||||||||||
The following table provides the purchase price calculation as of the Acquisition Date and the identifiable assets purchased and the liabilities assumed at their estimated fair value. These fair value measurements are based on third-party valuations. | ||||||||||||
Purchase Price: | ||||||||||||
FirstMerit shares of Common Stock issued for Citizens' shares | 55,468,283 | |||||||||||
Closing price per share of the Corporation's Common Stock on April 12, 2013 | $ | 16.68 | ||||||||||
Consideration from Common Stock conversion (1.37 ratio) | 925,211 | |||||||||||
Cash paid to the Treasury for Citizens' TARP Preferred | 355,371 | |||||||||||
Cash paid in lieu of fractional shares to the former Citizens' shareholders | 61 | |||||||||||
Consideration from the warrant issued to the Treasury for Citizens' TARP warrant | 3,000 | |||||||||||
Total purchase price | $ | 1,283,643 | ||||||||||
Statement of Net Assets Acquired at Fair Value: | ||||||||||||
ASSETS | ||||||||||||
Cash and due from banks | $ | 544,380 | ||||||||||
Investment securities | 3,202,575 | |||||||||||
Loans | 4,617,004 | |||||||||||
Premises and equipment | 138,536 | |||||||||||
Intangible assets | 84,774 | (a) | ||||||||||
Accrued interest receivable and other assets | 681,100 | |||||||||||
Total assets | $ | 9,268,369 | ||||||||||
LIABILITIES | ||||||||||||
Deposits | $ | 7,276,754 | ||||||||||
Borrowings | 908,824 | |||||||||||
Accrued taxes, expenses, and other liabilities | 80,842 | |||||||||||
Total liabilities | $ | 8,266,420 | ||||||||||
Net identifiable assets acquired | 1,001,949 | |||||||||||
Goodwill | $ | 281,694 | ||||||||||
(a) Intangible assets consist of core deposit intangibles of $70.8 million and trust relationships of approximately $14.0 million. The useful lives for which the core deposit intangibles and the trust relationships are being amortized over is 15 years and 12 years, respectively. | ||||||||||||
The amount of goodwill recorded reflects the increased market share and related synergies that are expected to result from the acquisition, and represents the excess purchase price over the estimated fair value of the net assets acquired. None of the goodwill is deductible for income tax purposes as the merger is accounted for as a tax-free exchange. The tax-free exchange resulted in a carryover of tax attributes and tax basis to the Corporation's subsequent income tax filings. These carryovers were comprised of DTA of $313.0 million and DTL of $51.3 million for a net DTA carryover of $261.7 million. This net DTA includes $224.8 million of net operating loss and tax credit carryovers. The carryover of these tax attributes is subject to limitation as to the tax period in which they can be used to reduce future tax payments. The amounts recorded are expected to be substantially used by 2016, however, some will continue to carryover until 2032. These tax attribute benefits will also be subject to regulatory capital adjustments until fully utilized. An additional net DTA of $87.6 million was established on the Acquisition Date as a result of the purchase accounting fair value adjustments resulting in a total net DTA on the Acquisition Date of $349.3 million. | ||||||||||||
The following table summarizes the fair value of both acquired impaired and nonimpaired loans by product type as of the Acquisition Date. | ||||||||||||
(In thousands) | Acquired Impaired Loans | Acquired Nonimpaired Loans | Acquired Loans Total | |||||||||
Commercial | ||||||||||||
C&I | $ | 93,735 | $ | 1,660,199 | $ | 1,753,934 | ||||||
CRE | 378,569 | 359,066 | 737,635 | |||||||||
Construction | 13,399 | 17,135 | 30,534 | |||||||||
Total commercial | 485,703 | 2,036,400 | 2,522,103 | |||||||||
Consumer | ||||||||||||
Residential mortgages | 232,291 | 278,404 | 510,695 | |||||||||
Installment | 54,108 | 1,165,235 | 1,219,343 | |||||||||
Home equity lines | 47,613 | 317,250 | 364,863 | |||||||||
Total consumer | 334,012 | 1,760,889 | 2,094,901 | |||||||||
Total | $ | 819,715 | $ | 3,797,289 | $ | 4,617,004 | ||||||
The determination of estimated fair values of the acquired loans required the Corporation to make certain estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature. Based on such factors as past due status, nonaccrual status and credit risk ratings, the acquired loans were divided into loans with evidence of credit quality deterioration, which are accounted for under ASC 310-30 (acquired impaired), and loans that do not meet this criteria, which are accounted for under ASC 310-20 (acquired nonimpaired). The acquired loans were further segregated into loan pools designed to facilitate the development of expected cash flows to be used in estimating fair value. Acquired loans were segregated into pools based on characteristics such as loan type, credit risk profiles, contractual interest rate and repayment terms and market area in which originated. Expected cash flows, both principal and interest, were estimated based on key assumptions covering such factors as prepayments, default rates and severity of loss given default. These assumptions were developed using both Citizens' historical experience and the portfolio characteristics at Acquisition Date as well as available market research. The fair value estimates for acquired loans was based on the amount and timing of expected principal, interest and other cash flows, included expected prepayments, discounted at prevailing market interest rates. | ||||||||||||
For acquired nonimpaired loans, the difference between the Acquisition Date fair value and the contractual amounts due at the Acquisition Date represents the fair value adjustment. The fair value adjustment may be a discount (or premium) to an individual loan's cost basis and is accreted (or amortized) to interest income over the loan's remaining life using the level yield method. Acquired nonimpaired loans are reported net of the unamortized fair value adjustment. The fair value adjustment for acquired nonimpaired loans as of the Acquisition Date is presented in the following table. | ||||||||||||
(In thousands) | Acquired Nonimpaired Loans | |||||||||||
Outstanding balance | $ | 4,017,304 | ||||||||||
Less: Fair value adjustment | 220,015 | |||||||||||
Fair value of acquired nonimpaired loans | $ | 3,797,289 | ||||||||||
The table below details contractually required payments, cash flows not expected to be collected and cash flows expected to be collected on acquired nonimpaired loans as of the Acquisition Date. | ||||||||||||
(In thousands) | Acquired Nonimpaired Loans | |||||||||||
Contractually required payments including interest (a) | $ | 4,955,180 | ||||||||||
Less: Contractual cash flows not expected to be collected | 680,664 | |||||||||||
Cash flows expected to be collected | $ | 4,274,516 | ||||||||||
(a) Total undiscounted amounts of all uncollected contractual principal and interest, including any fees and penalties, both past due and scheduled for the future, assuming no loss or prepayment. | ||||||||||||
For acquired impaired loans, the excess of cash flows expected over the estimated fair value at the Acquisition Date represents the accretable yield and is recognized as interest income using a level yield method over the remaining life of the pooled impaired loans. Each pool of acquired impaired loans is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Acquired impaired loans in pools with an accretable yield are considered to be accruing and performing even though collection of contractual payments on loans within the pool may be in doubt, because the pool is the unit of accounting and income continues to be accreted on the pool as long as expected cash flows are reasonably estimable. | ||||||||||||
Total outstanding acquired impaired loans as of the Acquisition Date were $1.1 billion. A reconciliation of the contractual required payments to the fair value of the acquired impaired loans at the Acquisition Date is as follows: | ||||||||||||
(In thousands) | Acquired Impaired Loans | |||||||||||
Contractually required payments including interest (a) | $ | 1,231,172 | ||||||||||
Nonaccretable difference (b) | (279,899 | ) | ||||||||||
Cash flows expected to be collected (c) | 951,273 | |||||||||||
Accretable yield (d) | (131,558 | ) | ||||||||||
Fair value of loans acquired | $ | 819,715 | ||||||||||
(a) Total undiscounted amounts of all uncollected contractual principal and interest, including any fees and penalties, both past due and scheduled for the future, assuming no loss or prepayment. | ||||||||||||
(b) The nonaccretable difference represents, as of the Acquisition Date, the amount of contractually required payments, including interest, that are not expected to be collected based on estimated credit losses and other factors, such as prepayments. | ||||||||||||
(c) Represents the estimate, at Acquisition Date, of the amount and timing of undiscounted principal, interest, and other cash flows expected to be collected. This estimate includes the effect of anticipated prepayments. | ||||||||||||
(d) The accretable yield represents the excess of cash flows expected at Acquisition Date over the estimated fair value and is recognized as interest income over the remaining life of the loan using the level yield method. | ||||||||||||
The fair value of the investment securities acquired was approximately $3.2 billion. Management's strategy to reduce prepayment and credit risk of the acquired investment securities portfolio resulted in the sale of approximately $2.2 billion in agency MBS, agency CMO, municipal securities and private label MBS investments subsequent to the close of the acquisition. During the second quarter of 2013, Management repurchased approximately $1.5 billion of agency MBS and CMO securities in accordance with the Corporation's investment polices. | ||||||||||||
As part of the merger, the Corporation assumed Citizens' FHLB advances with a fair value of $719.3 million. On April 15, 2013, in conjunction with Management's strategy to de-leverage the acquired Citizens' balance sheet, the Corporation terminated all but two assumed FHLB advances resulting in cash outlay of $652.5 million, which approximated the fair value. The fair value of the two retained FHLB advances totaled $66.8 million and mature on May 16, 2016. FHLB advances are reflected in the line item "Federal funds purchased and securities sold under agreements to repurchase" on the Consolidated Balance Sheets. | ||||||||||||
The Corporation also assumed obligations under junior subordinated debentures at fair value in the amount of $74.5 million, payable to two unconsolidated trusts that issued trust preferred securities. The junior subordinated debentures are the sole assets of each trust. The variable interest rate junior subordinated debenture has a maturity date of June 26, 2033 and bears interest at an annual rate equal to the three-month LIBOR plus 3.10% and adjusts on a quarterly basis not to exceed 11.75%. The junior subordinated debenture is an unsecured obligation of the Corporation and is junior in right of payment to all future senior indebtedness of the Corporation. The Corporation has guaranteed that interest payments on the junior subordinated debenture made to the trust will be distributed by the trust to the holders of the trust preferred securities. The trust preferred securities of the special purpose trust are callable at par and must be redeemed in thirty years after issuance. Under the risk-based capital guidelines, the trust preferred securities currently qualify as Tier 1 capital; however, the final rule under Basel III, which became effective January 1, 2014, phases out trust preferred securities from qualifying as Tier 1 Capital beginning January 1, 2015, with complete elimination by January 1, 2016. The fixed 7.50% interest rate junior subordinated debenture has a maturity date of September 15, 2066 and is listed on the NYSE (NYSE symbol CTZ-PA). Interest is payable quarterly in arrears and became callable on September 15, 2011. | ||||||||||||
The Corporation also assumed long-term repurchase agreements with a fair value amount of $115.0 million. On April 15, 2013, in conjunction with Management's strategy to de-leverage the newly acquired Citizens' balance sheet, all of these long-term repurchase agreements were terminated. | ||||||||||||
There were no merger-related charges recorded in the Consolidated Statements of Income for the three months ended June 30, 2014 and $1.0 million for the six months ended June 30, 2014. These costs were primarily composed of professional service fees. | ||||||||||||
The following table provides the unaudited pro forma information for the results of operations for the three and six months ended June 30, 2013, as if the acquisition had occurred on January 1, 2013. These adjustments include the impact of certain purchase accounting adjustments including accretion of loan marks, which makes up the vast majority of the adjustments, followed by intangible assets amortization, investment securities amortization, fixed assets depreciation and deposit accretion. In addition, merger-related charges of $32.1 million and $35.7 million for the three and six months ended June 30, 2013 are included in the pro forma information. These unaudited pro forma results are presented for illustrative purposes and are not intended to represent or be indicative of the actual results of operations of the combined corporation that would have been achieved had the acquisition occurred at the beginning of each period presented, nor are they intended to represent or be indicative of future results of operations. | ||||||||||||
(In thousands) | Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | ||||||||||
Total revenue, net of interest expense | $ | 335,796 | $ | 643,052 | ||||||||
Net income | 73,972 | 153,487 | ||||||||||
Investment_Securities
Investment Securities | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure | ' | |||||||||||||||||||||||||||||||||||||||||||||||
3. Investment Securities | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities. Held-to-maturity securities are carried at amortized cost, which reflects historical cost, adjusted for amortization of premiums and accretion of discounts. Available-for-sale securities are carried at fair value with net unrealized gains or losses reported on an after-tax basis as a component of OCI in shareholders' equity. | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Gross Unrealized Gains | Gross Unrealized Losses | Fair | ||||||||||||||||||||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 233,228 | $ | 8,600 | $ | (1,023 | ) | $ | 240,805 | |||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 998,698 | 24,965 | (5,489 | ) | 1,018,174 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 86,870 | 351 | (1,523 | ) | 85,698 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,627,871 | 5,009 | (34,849 | ) | 1,598,031 | |||||||||||||||||||||||||||||||||||||||||||
Non-agency | 8 | — | — | 8 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 182,151 | 1,008 | (1,126 | ) | 182,033 | |||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 297,334 | 883 | (4,252 | ) | 293,965 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 61,624 | — | (8,134 | ) | 53,490 | |||||||||||||||||||||||||||||||||||||||||||
Total debt securities | 3,487,784 | 40,816 | (56,396 | ) | 3,472,204 | |||||||||||||||||||||||||||||||||||||||||||
Equity securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | 2,935 | — | — | 2,935 | ||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | — | 3,281 | ||||||||||||||||||||||||||||||||||||||||||||
Total equity securities | 6,216 | — | — | 6,216 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 3,494,000 | $ | 40,816 | $ | (56,396 | ) | $ | 3,478,420 | |||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. treasuries | $ | 5,000 | $ | 5 | $ | — | $ | 5,005 | ||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | 25,000 | — | (707 | ) | 24,293 | |||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 549,850 | 10,072 | (1,253 | ) | 558,669 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 624,605 | 6,825 | (4,933 | ) | 626,497 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 56,020 | 176 | (445 | ) | 55,751 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,450,479 | 114 | (54,263 | ) | 1,396,330 | |||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 248,974 | 641 | (7,252 | ) | 242,363 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 92,190 | 768 | — | 92,958 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities held to maturity | $ | 3,052,118 | $ | 18,601 | $ | (68,853 | ) | $ | 3,001,866 | |||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Gross Unrealized Gains | Gross Unrealized Losses | Fair | ||||||||||||||||||||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 258,787 | $ | 7,376 | $ | (3,796 | ) | $ | 262,367 | |||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 962,687 | 21,662 | (14,427 | ) | 969,922 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 72,048 | 7 | (2,488 | ) | 69,567 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,566,262 | 4,199 | (52,068 | ) | 1,518,393 | |||||||||||||||||||||||||||||||||||||||||||
Non-agency | 9 | — | — | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 104,152 | 273 | (2,157 | ) | 102,268 | |||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 297,259 | 760 | (4,332 | ) | 293,687 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 61,596 | — | (10,952 | ) | 50,644 | |||||||||||||||||||||||||||||||||||||||||||
Total debt securities | 3,322,800 | 34,277 | (90,220 | ) | 3,266,857 | |||||||||||||||||||||||||||||||||||||||||||
Equity securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | 3,036 | — | — | 3,036 | ||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | — | 3,281 | ||||||||||||||||||||||||||||||||||||||||||||
Total equity securities | 6,317 | — | — | 6,317 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 3,329,117 | $ | 34,277 | $ | (90,220 | ) | $ | 3,273,174 | |||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasuries | $ | 5,000 | $ | 4 | $ | — | $ | 5,004 | ||||||||||||||||||||||||||||||||||||||||
U.S. government agencies debentures | 25,000 | — | (1,348 | ) | 23,652 | |||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 480,703 | 5,335 | (10,459 | ) | 475,579 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 569,960 | 1,108 | (11,617 | ) | 559,451 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 56,596 | — | (1,190 | ) | 55,406 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,464,732 | — | (81,818 | ) | 1,382,914 | |||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 240,069 | 6 | (11,052 | ) | 229,023 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 93,628 | 308 | (725 | ) | 93,211 | |||||||||||||||||||||||||||||||||||||||||||
Total securities held to maturity | $ | 2,935,688 | $ | 6,761 | $ | (118,209 | ) | $ | 2,824,240 | |||||||||||||||||||||||||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Gross Unrealized Gains | Gross Unrealized Losses | Fair | ||||||||||||||||||||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 272,254 | $ | 9,207 | $ | (3,527 | ) | $ | 277,934 | |||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,058,323 | 27,797 | (10,192 | ) | 1,075,928 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 58,609 | 29 | (2,141 | ) | 56,497 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,586,576 | 7,272 | (27,120 | ) | 1,566,728 | |||||||||||||||||||||||||||||||||||||||||||
Non-agency | 10 | — | — | 10 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 108,000 | 533 | (1,965 | ) | 106,568 | |||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 159,916 | — | (1,821 | ) | 158,095 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 61,569 | — | (10,431 | ) | 51,138 | |||||||||||||||||||||||||||||||||||||||||||
Total debt securities | 3,305,257 | 44,838 | (57,197 | ) | 3,292,898 | |||||||||||||||||||||||||||||||||||||||||||
Equity Securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | 3,213 | — | — | 3,213 | ||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | — | 3,281 | ||||||||||||||||||||||||||||||||||||||||||||
Total equity securities | 6,494 | — | — | 6,494 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 3,311,751 | $ | 44,838 | $ | (57,197 | ) | $ | 3,299,392 | |||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. treasuries | $ | 4,999 | $ | — | $ | — | $ | 4,999 | ||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | 25,000 | — | (1,193 | ) | 23,807 | |||||||||||||||||||||||||||||||||||||||||||
U.S states and political subdivisions | 436,860 | 3,878 | (9,041 | ) | 431,697 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 253,839 | — | (8,051 | ) | 245,788 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 50,352 | — | (619 | ) | 49,733 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,510,374 | 67 | (41,674 | ) | 1,468,767 | |||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 175,384 | — | (7,285 | ) | 168,099 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 95,052 | 132 | (1,003 | ) | 94,181 | |||||||||||||||||||||||||||||||||||||||||||
Total securities held to maturity | $ | 2,551,860 | $ | 4,077 | $ | (68,866 | ) | $ | 2,487,071 | |||||||||||||||||||||||||||||||||||||||
The Corporation's U.S. states and political subdivisions portfolio is composed of general obligation bonds issued by a highly diversified number of states, cities, counties, and school districts. The amortized cost and fair value of the Corporation's portfolio of general obligation bonds are summarized by U.S. state in the tables below. As illustrated in the tables below, the aggregate fair value of the Corporation's general obligation bonds was greater than $10.0 million in eleven of the thirty-six U.S. states in which it holds investments. | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | June 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. State | # of Issuers | Average Issue Size, Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Ohio | 152 | $ | 1,065 | $ | 158,773 | $ | 161,809 | |||||||||||||||||||||||||||||||||||||||||
Michigan | 174 | 862 | 146,565 | 150,052 | ||||||||||||||||||||||||||||||||||||||||||||
Illinois | 74 | 1,578 | 113,501 | 116,741 | ||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | 87 | 864 | 72,616 | 75,155 | ||||||||||||||||||||||||||||||||||||||||||||
Texas | 65 | 794 | 50,845 | 51,632 | ||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 49 | 972 | 47,870 | 47,623 | ||||||||||||||||||||||||||||||||||||||||||||
Minnesota | 42 | 678 | 27,864 | 28,468 | ||||||||||||||||||||||||||||||||||||||||||||
Washington | 30 | 955 | 28,191 | 28,660 | ||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 37 | 751 | 26,815 | 27,805 | ||||||||||||||||||||||||||||||||||||||||||||
Missouri | 19 | 1,022 | 18,855 | 19,413 | ||||||||||||||||||||||||||||||||||||||||||||
New York | 21 | 612 | 12,627 | 12,860 | ||||||||||||||||||||||||||||||||||||||||||||
Other | 123 | 640 | 78,100 | 78,724 | ||||||||||||||||||||||||||||||||||||||||||||
Total general obligation bonds | 873 | $ | 915 | $ | 782,622 | $ | 798,942 | |||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. State | # of Issuers | Average Issue Size, Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Ohio | 154 | $ | 1,041 | $ | 159,674 | $ | 160,265 | |||||||||||||||||||||||||||||||||||||||||
Michigan | 166 | 744 | 122,198 | 123,571 | ||||||||||||||||||||||||||||||||||||||||||||
Illinois | 75 | 1,314 | 96,863 | 98,521 | ||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | 87 | 645 | 54,921 | 56,152 | ||||||||||||||||||||||||||||||||||||||||||||
Texas | 69 | 771 | 54,295 | 53,204 | ||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 51 | 891 | 48,319 | 45,451 | ||||||||||||||||||||||||||||||||||||||||||||
Minnesota | 45 | 663 | 29,840 | 29,816 | ||||||||||||||||||||||||||||||||||||||||||||
Washington | 30 | 930 | 28,393 | 27,906 | ||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 38 | 722 | 27,101 | 27,440 | ||||||||||||||||||||||||||||||||||||||||||||
Missouri | 20 | 969 | 19,253 | 19,382 | ||||||||||||||||||||||||||||||||||||||||||||
New York | 22 | 585 | 13,064 | 12,878 | ||||||||||||||||||||||||||||||||||||||||||||
California | 18 | 599 | 10,651 | 10,788 | ||||||||||||||||||||||||||||||||||||||||||||
Other | 115 | 631 | 74,918 | 72,572 | ||||||||||||||||||||||||||||||||||||||||||||
Total general obligation bonds | 890 | $ | 829 | $ | 739,490 | $ | 737,946 | |||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | June 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. State | # of Issuers | Average Issue Size, Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Ohio | 155 | $ | 983 | $ | 151,243 | $ | 152,289 | |||||||||||||||||||||||||||||||||||||||||
Illinois | 68 | 1,045 | 69,718 | 71,055 | ||||||||||||||||||||||||||||||||||||||||||||
Texas | 70 | 774 | 55,132 | 54,201 | ||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 57 | 885 | 52,581 | 50,428 | ||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | 82 | 646 | 51,660 | 52,933 | ||||||||||||||||||||||||||||||||||||||||||||
Minnesota | 47 | 658 | 30,675 | 30,927 | ||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 39 | 720 | 27,485 | 28,078 | ||||||||||||||||||||||||||||||||||||||||||||
Michigan | 174 | 689 | 119,040 | 119,916 | ||||||||||||||||||||||||||||||||||||||||||||
Washington | 31 | 947 | 29,696 | 29,371 | ||||||||||||||||||||||||||||||||||||||||||||
Missouri | 20 | 981 | 19,351 | 19,624 | ||||||||||||||||||||||||||||||||||||||||||||
New York | 22 | 609 | 13,484 | 13,400 | ||||||||||||||||||||||||||||||||||||||||||||
California | 20 | 591 | 11,592 | 11,821 | ||||||||||||||||||||||||||||||||||||||||||||
Other | 118 | 636 | 76,974 | 75,021 | ||||||||||||||||||||||||||||||||||||||||||||
Total general obligation bonds | 903 | $ | 605 | $ | 708,631 | $ | 709,064 | |||||||||||||||||||||||||||||||||||||||||
The Corporation owns one revenue bond with an estimated fair value of $0.5 million and an amortized cost of $0.5 million as of June 30, 2014. This bond was purchased in 1999, prior to the Corporation adopting an internal investment policy prohibiting purchases of revenue bonds. The revenue bond's maturity has been pre-refunded with U.S. treasuries. Pre-refunded municipal bonds are those that are backed by an escrow account and invested in U.S. Treasuries which is used to pay bondholders at maturity. Thus the revenue bond carries the credit risk of the U.S. Treasury. | ||||||||||||||||||||||||||||||||||||||||||||||||
The Corporation's investment policy states that municipal securities purchased are to be investment grade and allows for a 20% maximum portfolio concentration in municipal securities with a combined individual state to total municipal outstanding equal to or less than 25%. A municipal security is investment grade if (1) the security has a low risk of default by the obligor and (2) the full and timely payment of principal and interest is expected over the anticipated life of the instrument. The fact that a municipal security is rated by one nationally recognized credit rating agency is indicative, but not sufficient evidence, that a municipal security is investment grade. In all cases, the Corporation considers and documents within a security pre-purchase analysis factors such as capacity to pay, market and economic data, and such other factors as are available and relevant to the security or issuer. Factors to be considered in the ongoing monitoring of municipal securities and in the pre-purchase analysis include soundness of budgetary position and sources of revenue, financial strength, and stability of tax or enterprise revenues. The Corporation also considers spreads to U.S. Treasuries on comparable bonds of similar credit quality, in addition to the above analysis, to assess whether municipal securities are investment grade. The Corporation performs a risk analysis for any security that is downgraded below investment grade to determine if the security should be retained or sold. This risk analysis includes, but is not limited to, discussions with the Corporation's credit department as well as third-party municipal credit analysts and review of the nationally recognized credit rating agency's analysis describing the downgrade. | ||||||||||||||||||||||||||||||||||||||||||||||||
The Corporation's evaluation of its municipal bond portfolio at June 30, 2014 did not uncover any facts or circumstances resulting in significantly different credit ratings than those assigned by a nationally recognized credit rating agency. | ||||||||||||||||||||||||||||||||||||||||||||||||
FRB and FHLB stock constitute the majority of other investments on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | 30-Jun-14 | 31-Dec-13 | 30-Jun-13 | |||||||||||||||||||||||||||||||||||||||||||||
FRB stock | $ | 55,435 | $ | 55,294 | $ | 52,477 | ||||||||||||||||||||||||||||||||||||||||||
FHLB stock | 92,547 | 125,032 | 214,586 | |||||||||||||||||||||||||||||||||||||||||||||
Other | 451 | 477 | 502 | |||||||||||||||||||||||||||||||||||||||||||||
Total other investments | $ | 148,433 | $ | 180,803 | $ | 267,565 | ||||||||||||||||||||||||||||||||||||||||||
FRB and FHLB stock are classified as a restricted investment, carried at cost and valued based on the ultimate recoverability of par value. Cash and stock dividends received on the stock are reported as interest income. There are no identified events or changes in circumstances that may have a significant adverse effect on these investments carried at cost. | ||||||||||||||||||||||||||||||||||||||||||||||||
Securities with a carrying value of $3.2 billion, $3.2 billion, and $2.7 billion at June 30, 2014, December 31, 2013, and June 30, 2013, respectively, were pledged to secure trust and public deposits and securities sold under agreements to repurchase and for other purposes required or permitted by law. | ||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gains and Losses | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the gross realized gains and losses on the sales of those securities that have been included in earnings as a result of those sales. Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method. | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Realized gains | $ | 80 | $ | 3,786 | $ | 300 | $ | 3,786 | ||||||||||||||||||||||||||||||||||||||||
Realized losses | — | (6,580 | ) | (164 | ) | (6,589 | ) | |||||||||||||||||||||||||||||||||||||||||
Net securities (losses)/gains | $ | 80 | $ | (2,794 | ) | $ | 136 | $ | (2,803 | ) | ||||||||||||||||||||||||||||||||||||||
Gross Unrealized Losses and Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the gross unrealized losses and fair value of securities by length of time that individual securities had been in a continuous loss position by major categories of available-for-sale and held-to-maturity securities. | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Unrealized | Number | Fair Value | Unrealized | Number | Fair Value | Unrealized | ||||||||||||||||||||||||||||||||||||||||
Losses | Impaired | Losses | Impaired | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 10,988 | $ | (16 | ) | 14 | $ | 30,271 | $ | (1,007 | ) | 50 | $ | 41,259 | $ | (1,023 | ) | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 11,636 | (3 | ) | 1 | 259,470 | (5,486 | ) | 19 | 271,106 | (5,489 | ) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 5,105 | (4 | ) | 1 | 45,739 | (1,519 | ) | 6 | 50,844 | (1,523 | ) | |||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 279,311 | (2,358 | ) | 19 | 904,821 | (32,491 | ) | 60 | 1,184,132 | (34,849 | ) | |||||||||||||||||||||||||||||||||||||
Non-agency | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 24,431 | (97 | ) | 1 | 43,212 | (1,029 | ) | 6 | 67,643 | (1,126 | ) | |||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 141,506 | (2,568 | ) | 19 | 81,749 | (1,684 | ) | 12 | 223,255 | (4,252 | ) | |||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | 53,490 | (8,134 | ) | 8 | 53,490 | (8,134 | ) | ||||||||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 472,977 | $ | (5,046 | ) | 55 | $ | 1,418,752 | $ | (51,350 | ) | 161 | $ | 1,891,729 | $ | (56,396 | ) | |||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | $ | — | $ | — | — | $ | 24,293 | $ | (707 | ) | 1 | $ | 24,293 | $ | (707 | ) | ||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 59,958 | (334 | ) | 56 | 66,557 | (919 | ) | 90 | 126,515 | (1,253 | ) | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 206,911 | (4,933 | ) | 11 | 206,911 | (4,933 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 23,977 | (445 | ) | 3 | 23,977 | (445 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 127,284 | (1,100 | ) | 8 | 1,241,883 | (53,163 | ) | 60 | 1,369,167 | (54,263 | ) | |||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 183,957 | (7,252 | ) | 17 | 183,957 | (7,252 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 187,242 | $ | (1,434 | ) | 64 | $ | 1,747,578 | $ | (67,419 | ) | 182 | $ | 1,934,820 | $ | (68,853 | ) | |||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Unrealized | Number | Fair Value | Unrealized | Number | Fair Value | Unrealized | ||||||||||||||||||||||||||||||||||||||||
Losses | Impaired | Losses | Impaired | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 38,039 | $ | (1,996 | ) | 65 | $ | 14,157 | $ | (1,800 | ) | 25 | $ | 52,196 | $ | (3,796 | ) | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 434,761 | (13,109 | ) | 35 | 14,890 | (1,318 | ) | 2 | 449,651 | (14,427 | ) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 33,387 | (1,491 | ) | 5 | 16,944 | (997 | ) | 2 | 50,331 | (2,488 | ) | |||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,135,151 | (44,775 | ) | 74 | 100,530 | (7,293 | ) | 7 | 1,235,681 | (52,068 | ) | |||||||||||||||||||||||||||||||||||||
Nonagency | — | — | — | 1 | — | 1 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 43,747 | (2,055 | ) | 6 | 2,525 | (102 | ) | 1 | 46,272 | (2,157 | ) | |||||||||||||||||||||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 223,458 | (4,332 | ) | 33 | — | — | — | 223,458 | (4,332 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | 50,644 | (10,952 | ) | 8 | 50,644 | (10,952 | ) | ||||||||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 1,908,543 | $ | (67,758 | ) | 218 | $ | 199,691 | $ | (22,462 | ) | 46 | $ | 2,108,234 | $ | (90,220 | ) | |||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | $ | 23,652 | $ | (1,348 | ) | 1 | $ | — | $ | — | — | $ | 23,652 | $ | (1,348 | ) | ||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 222,154 | (10,276 | ) | 353 | 2,478 | (183 | ) | 6 | 224,632 | (10,459 | ) | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 422,192 | (11,617 | ) | 22 | — | — | 11 | 422,192 | (11,617 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 48,831 | (1,190 | ) | 8 | — | — | 3 | 48,831 | (1,190 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,382,915 | (81,818 | ) | 66 | — | — | — | 1,382,915 | (81,818 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 208,863 | (11,052 | ) | 19 | — | — | — | 208,863 | (11,052 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 64,541 | (725 | ) | 23 | — | — | — | 64,541 | (725 | ) | ||||||||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 2,373,148 | $ | (118,026 | ) | 492 | $ | 2,478 | $ | (183 | ) | 6 | $ | 2,375,626 | $ | (118,209 | ) | |||||||||||||||||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Unrealized | Number | Fair Value | Unrealized | Number | Fair Value | Unrealized | ||||||||||||||||||||||||||||||||||||||||
Losses | Impaired | Losses | Impaired | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 61,933 | $ | (3,527 | ) | 106 | $ | — | $ | — | — | $ | 61,933 | $ | (3,527 | ) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 331,857 | (10,192 | ) | 23 | — | — | — | 331,857 | (10,192 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 51,378 | (2,141 | ) | 7 | — | — | — | 51,378 | (2,141 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,070,624 | (27,120 | ) | 64 | — | — | — | 1,070,624 | (27,120 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 42,537 | (1,965 | ) | 6 | — | — | — | 42,537 | (1,965 | ) | ||||||||||||||||||||||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 74,779 | (1,821 | ) | 14 | — | — | — | 74,779 | (1,821 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | 51,138 | (10,431 | ) | 8 | 51,138 | (10,431 | ) | ||||||||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 1,633,108 | $ | (46,766 | ) | 220 | $ | 51,138 | $ | (10,431 | ) | 8 | $ | 1,684,246 | $ | (57,197 | ) | |||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | $ | 23,807 | $ | (1,193 | ) | 1 | $ | — | $ | — | — | $ | 23,807 | $ | (1,193 | ) | ||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 228,098 | (9,041 | ) | 362 | — | — | — | 228,098 | (9,041 | ) | ||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 225,681 | (8,051 | ) | 11 | — | — | — | 225,681 | (8,051 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 39,697 | (619 | ) | 7 | — | — | — | 39,697 | (619 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,451,813 | (41,674 | ) | 65 | — | — | — | 1,451,813 | (41,674 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 150,223 | (7,285 | ) | 14 | — | — | — | 150,223 | (7,285 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 72,017 | (1,003 | ) | 25 | — | — | — | 72,017 | (1,003 | ) | ||||||||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 2,191,336 | $ | (68,866 | ) | 485 | $ | — | $ | — | — | $ | 2,191,336 | $ | (68,866 | ) | ||||||||||||||||||||||||||||||||
At least quarterly, the Corporation conducts a comprehensive security-level impairment assessment on all securities in an unrealized loss position to determine if OTTI exists. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. Under the current OTTI accounting model for debt securities, an OTTI loss must be recognized for a debt security in an unrealized loss position if the Corporation intends to sell the security or it is more likely than not that the Corporation will be required to sell the security before recovery of its amortized cost basis. In this situation, the amount of loss recognized in income is equal to the difference between the fair value and the amortized cost basis of the security. Even if the Corporation does not expect to sell the security, the Corporation must evaluate the expected cash flows to be received to determine if a credit loss has occurred. In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income. The portion of the unrealized loss relating to other factors, such as liquidity conditions in the market or changes in market interest rates, is recorded in OCI. Equity securities are also evaluated to determine whether the unrealized loss is expected to be recoverable based on whether evidence exists to support a realizable value equal to or greater than the amortized cost basis. If it is probable that the Corporation will not recover the amortized cost basis, taking into consideration the estimated recovery period and its ability to hold the equity security until recovery, OTTI is recognized. | ||||||||||||||||||||||||||||||||||||||||||||||||
The security-level assessment is performed on each security, regardless of the classification of the security as available for sale or held to maturity. The assessments are based on the nature of the securities, the financial condition of the issuer, the extent and duration of the securities, the extent and duration of the loss and the intent and whether Management intends to sell or it is more likely than not that it will be required to sell a security before recovery of its amortized cost basis, which may be maturity. For those securities for which the assessment shows the Corporation will recover the entire cost basis, Management does not intend to sell these securities and it is not more likely than not that the Corporation will be required to sell them before the anticipated recovery of the amortized cost basis, the gross unrealized losses are recognized in OCI, net of tax. | ||||||||||||||||||||||||||||||||||||||||||||||||
The investment securities portfolio was in a net unrealized loss position of $15.6 million at June 30, 2014, compared to a net unrealized loss of $55.9 million at December 31, 2013 and a loss position of $12.4 million at June 30, 2013. Gross unrealized losses were $56.4 million as of June 30, 2014, compared to $90.2 million at December 31, 2013, and $57.2 million at June 30, 2013. As of June 30, 2014, gross unrealized losses are concentrated within agency MBS and corporate debt securities. The fair values of the agency MBSs have been impacted by the rising interest rate environment relative to when they were purchased. Corporate debt securities are composed of eight, single issuer, trust preferred securities with stated maturities. Such investments are less than 2% of the fair value of the entire investment portfolio. None of the corporate issuers have deferred paying dividends on their issued trust preferred shares in which the Corporation is invested. The fair values of these investments have been impacted by the market conditions which have caused risk premiums to increase, resulting in the decline in the fair value of the trust preferred securities. | ||||||||||||||||||||||||||||||||||||||||||||||||
Management believes the Corporation will fully recover the cost of these agency MBSs and corporate debt securities, and it does not intend to sell these securities and it is not more likely than not that it will be required to sell them before the anticipated recovery of the remaining amortized cost basis, which may be maturity. As a result, Management concluded that these securities were not other-than-temporarily impaired at June 30, 2014 and has recognized the total amount of the impairment in OCI, net of tax. | ||||||||||||||||||||||||||||||||||||||||||||||||
The Corporation also holds $294.0 million of CLOs with a gross unrealized loss position of $4.3 million as of June 30, 2014. The new Volcker regulations, as originally adopted, may affect the Corporation's ability to hold these CLOs. Management believes that its holdings of CLOs are not ownership interests in a covered fund prohibited by the Volcker regulations, and, therefore, expects to be able to hold these investments until their stated maturities with no restriction. | ||||||||||||||||||||||||||||||||||||||||||||||||
Contractual Maturity of Debt Securities | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table shows the remaining contractual maturities and contractual yields of debt securities held-to-maturity and available-for-sale as of June 30, 2014. Estimated lives on MBSs may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment | ' | |||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | U.S. Government agency debentures | U.S. Treasuries | U.S. States and political subdivisions obligations | Residential mortgage-backed securities - U.S. govt. agency obligations | Commercial mortgage-backed securities - U.S. govt. agency obligations | Residential collateralized mortgage obligations - U.S. govt. agency obligations | Residential collateralized mortgage obligations - non- U.S. govt. agency issued | Commercial collateralized mortgage obligations - U.S. govt. agency obligations | Collateralized loan obligations | Corporate debt securities | Total | Weighted Average Yield | ||||||||||||||||||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Remaining maturity: | ||||||||||||||||||||||||||||||||||||||||||||||||
One year or less | $ | — | $ | — | $ | 11,238 | $ | 1,134 | $ | 16,985 | $ | 9,923 | $ | — | $ | — | $ | 16,009 | $ | — | $ | 55,289 | 3.34 | % | ||||||||||||||||||||||||
Over one year through five years | — | — | 62,611 | 820,491 | 24,214 | 1,507,289 | 8 | 142,483 | 8,509 | — | 2,565,605 | 2.23 | % | |||||||||||||||||||||||||||||||||||
Over five years through ten years | — | — | 135,495 | 196,549 | 44,499 | 80,819 | — | 39,550 | 269,447 | — | 766,359 | 2.98 | % | |||||||||||||||||||||||||||||||||||
Over ten years | — | — | 31,461 | — | — | — | — | — | — | 53,490 | 84,951 | 2 | % | |||||||||||||||||||||||||||||||||||
Fair Value | $ | — | $ | — | $ | 240,805 | $ | 1,018,174 | $ | 85,698 | $ | 1,598,031 | $ | 8 | $ | 182,033 | $ | 293,965 | $ | 53,490 | $ | 3,472,204 | 2.41 | % | ||||||||||||||||||||||||
Amortized Cost | $ | — | $ | — | $ | 233,228 | $ | 998,698 | $ | 86,870 | $ | 1,627,871 | $ | 8 | $ | 182,151 | $ | 297,334 | $ | 61,624 | $ | 3,487,784 | ||||||||||||||||||||||||||
Weighted-Average Yield | — | % | — | % | 5.21 | % | 2.63 | % | 2.08 | % | 1.96 | % | 3.64 | % | 1.82 | % | 2.66 | % | 0.95 | % | 2.41 | % | ||||||||||||||||||||||||||
Weighted-Average Maturity | — | — | 6.46 | 4 | 4.12 | 3.89 | 1.74 | 3.97 | 6.4 | 13.31 | 4.49 | |||||||||||||||||||||||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Remaining maturity: | ||||||||||||||||||||||||||||||||||||||||||||||||
One year or less | $ | — | $ | 5,005 | $ | 99,753 | $ | — | $ | 6,380 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 111,138 | 1.49 | % | ||||||||||||||||||||||||
Over one year through five years | — | — | 66,844 | 496,849 | 15,075 | 1,283,181 | — | 120,997 | — | 92,958 | 2,075,904 | 1.86 | % | |||||||||||||||||||||||||||||||||||
Over five years through ten years | 24,293 | — | 204,954 | 129,648 | 34,296 | 113,149 | — | 121,366 | — | — | 627,705 | 2.73 | % | |||||||||||||||||||||||||||||||||||
Over ten years | — | — | 187,118 | — | — | — | — | — | — | — | 187,119 | 5.58 | % | |||||||||||||||||||||||||||||||||||
Fair Value | $ | 24,293 | $ | 5,005 | $ | 558,669 | $ | 626,497 | $ | 55,751 | $ | 1,396,330 | $ | — | $ | 242,363 | $ | — | $ | 92,958 | $ | 3,001,866 | 2.25 | % | ||||||||||||||||||||||||
Amortized Cost | $ | 25,000 | $ | 5,000 | $ | 549,850 | $ | 624,605 | $ | 56,020 | $ | 1,450,479 | $ | — | $ | 248,974 | $ | — | $ | 92,190 | $ | 3,052,118 | ||||||||||||||||||||||||||
Weighted-Average Yield | 1.43 | % | 0.26 | % | 4.8 | % | 2.15 | % | 1.98 | % | 1.6 | % | — | % | 2.28 | % | — | % | 2.24 | % | 2.25 | % | ||||||||||||||||||||||||||
Weighted-Average Maturity | 5.33 | 0.58 | 10.03 | 4.71 | 4.77 | 4.18 | — | 5.01 | — | 3.53 | 5.02 | |||||||||||||||||||||||||||||||||||||
Loans_Notes
Loans (Notes) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||||||||||||||||||
Financing Receivables | ' | |||||||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||||
Loans outstanding as of June 30, 2014, December 31, 2013, and June 30, 2013, net of unearned income, consisted of the following: | ||||||||||||||||||||||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | |||||||||||||||||||||||||||||
Originated loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 7,365,499 | $ | 6,648,279 | $ | 5,997,812 | ||||||||||||||||||||||||||
Residential mortgage | 580,166 | 529,253 | 462,427 | |||||||||||||||||||||||||||||
Installment | 2,051,587 | 1,727,925 | 1,496,663 | |||||||||||||||||||||||||||||
Home equity | 998,179 | 920,066 | 845,051 | |||||||||||||||||||||||||||||
Credit cards | 151,967 | 148,313 | 142,319 | |||||||||||||||||||||||||||||
Leases | 319,795 | 239,551 | 188,353 | |||||||||||||||||||||||||||||
Total originated loans | 11,467,193 | 10,213,387 | 9,132,625 | |||||||||||||||||||||||||||||
Allowance for originated loan losses | (91,950 | ) | (96,484 | ) | (98,645 | ) | ||||||||||||||||||||||||||
Net originated loans | $ | 11,375,243 | $ | 10,116,903 | $ | 9,033,980 | ||||||||||||||||||||||||||
Acquired loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 1,457,903 | $ | 1,725,970 | $ | 2,267,811 | ||||||||||||||||||||||||||
Residential mortgage | 425,584 | 470,652 | 439,380 | |||||||||||||||||||||||||||||
Installment | 872,034 | 1,004,569 | 1,221,060 | |||||||||||||||||||||||||||||
Home equity | 268,266 | 294,424 | 322,111 | |||||||||||||||||||||||||||||
Total acquired loans | 3,023,787 | 3,495,615 | 4,250,362 | |||||||||||||||||||||||||||||
Allowance for acquired loan losses | (4,977 | ) | (741 | ) | — | |||||||||||||||||||||||||||
Net acquired loans | $ | 3,018,810 | $ | 3,494,874 | $ | 4,250,362 | ||||||||||||||||||||||||||
Covered loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 292,782 | $ | 375,860 | $ | 505,706 | ||||||||||||||||||||||||||
Residential mortgage | 46,705 | 50,679 | 56,056 | |||||||||||||||||||||||||||||
Installment | 5,364 | 6,162 | 7,794 | |||||||||||||||||||||||||||||
Home equity | 89,815 | 97,442 | 106,970 | |||||||||||||||||||||||||||||
Loss share receivable | 43,981 | 61,827 | 83,910 | |||||||||||||||||||||||||||||
Total covered loans | 478,647 | 591,970 | 760,436 | |||||||||||||||||||||||||||||
Allowance for covered loan losses | (45,109 | ) | (44,027 | ) | (49,069 | ) | ||||||||||||||||||||||||||
Net covered loans | $ | 433,538 | $ | 547,943 | $ | 711,367 | ||||||||||||||||||||||||||
Total loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 9,116,184 | $ | 8,750,109 | $ | 8,771,329 | ||||||||||||||||||||||||||
Residential mortgage | 1,052,455 | 1,050,584 | 957,863 | |||||||||||||||||||||||||||||
Installment | 2,928,985 | 2,738,656 | 2,725,517 | |||||||||||||||||||||||||||||
Home equity | 1,356,260 | 1,311,932 | 1,274,132 | |||||||||||||||||||||||||||||
Credit cards | 151,967 | 148,313 | 142,319 | |||||||||||||||||||||||||||||
Leases | 319,795 | 239,551 | 188,353 | |||||||||||||||||||||||||||||
Loss share receivable | 43,981 | 61,827 | 83,910 | |||||||||||||||||||||||||||||
Total loans | 14,969,627 | 14,300,972 | 14,143,423 | |||||||||||||||||||||||||||||
Total allowance for loan losses | (142,036 | ) | (141,252 | ) | (147,714 | ) | ||||||||||||||||||||||||||
Total Net loans | $ | 14,827,591 | $ | 14,159,720 | $ | 13,995,709 | ||||||||||||||||||||||||||
The following describes the distinction between originated, acquired and covered loan portfolios and certain significant accounting policies relevant to each of these portfolios. | ||||||||||||||||||||||||||||||||
Originated Loans | ||||||||||||||||||||||||||||||||
Loans originated for investment are stated at their principal amount outstanding adjusted for partial charge-offs, and net deferred loan fees and costs. Interest income on loans is accrued over the term of the loans primarily using the "simple-interest" method based on the principal balance outstanding. Interest is not accrued on loans where collectability is uncertain. Accrued interest is presented separately in the consolidated balance sheet, except for accrued interest on credit card loans, which is included in the outstanding loan balance. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. Net deferred loan origination fees and costs amounted to $6.1 million, $6.6 million and $6.7 million at June 30, 2014, December 31, 2013, and June 30, 2013, respectively. | ||||||||||||||||||||||||||||||||
Acquired Loans | ||||||||||||||||||||||||||||||||
Acquired loans are those purchased in the Citizens acquisition (See Note 2 (Business Combinations) for further information). These loans were recorded at estimated fair value at the Acquisition Date with no carryover of the related ALL. The acquired loans were segregated between those considered to be performing (“non-impaired acquired loans”) and those with evidence of credit deterioration (“acquired impaired loans”). Acquired loans are considered impaired if there is evidence of credit deterioration and if it is probable, at acquisition, all contractually required payments will not be collected. Revolving loans, including lines of credit, are excluded from acquired impaired loan accounting. | ||||||||||||||||||||||||||||||||
Total outstanding acquired impaired loans as of June 30, 2014 and 2013 were $714.2 million and $1.0 billion, respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged off. Changes in the carrying amount and accretable yield for acquired impaired loans were as follows for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
Acquired Impaired Loans | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
(In thousands) | Accretable Yield | Carrying Amount of Loans | Accretable Yield | Carrying Amount of Loans | Accretable Yield | Carrying Amount of Loans | Accretable Yield | Carrying Amount of Loans | ||||||||||||||||||||||||
Balance at beginning of period | $ | 142,284 | $ | 557,199 | $ | — | $ | — | $ | 136,646 | $ | 601,000 | $ | — | $ | — | ||||||||||||||||
Additions due to Citizens acquisition on April 12, 2013 | — | — | 131,558 | 819,715 | — | — | 131,558 | 819,715 | ||||||||||||||||||||||||
Accretion | (12,746 | ) | 12,746 | (9,090 | ) | 9,090 | (24,487 | ) | 24,487 | (9,090 | ) | 9,090 | ||||||||||||||||||||
Net reclassifications from nonaccretable to accretable | 10,499 | — | — | — | 30,013 | — | — | — | ||||||||||||||||||||||||
Payments received, net | — | (50,695 | ) | — | (76,123 | ) | — | (106,237 | ) | — | (76,123 | ) | ||||||||||||||||||||
Disposals | $ | (2,595 | ) | $ | — | $ | (2,401 | ) | $ | — | $ | (4,730 | ) | $ | — | $ | (2,401 | ) | $ | — | ||||||||||||
Balance at end of period | $ | 137,442 | $ | 519,250 | $ | 120,067 | $ | 752,682 | $ | 137,442 | $ | 519,250 | $ | 120,067 | $ | 752,682 | ||||||||||||||||
Covered Loans and Related Loss Share Receivable | ||||||||||||||||||||||||||||||||
The loans purchased in the 2010 FDIC-assisted acquisitions of George Washington and Midwest are covered by loss sharing agreements between the FDIC and the Corporation that afford the Bank significant loss protection. These covered loans were recorded at estimated fair value at the Acquisition Date with no carryover of the related ALL and are accounted for as acquired impaired loans. A loss share receivable was recorded at the Acquisition Date which represents the estimated fair value of reimbursement the Corporation expects to receive from the FDIC for incurred losses on certain covered loans. These expected reimbursements are recorded as part of covered loans. | ||||||||||||||||||||||||||||||||
Changes in the loss share receivable associated with covered loans for the three and six months ended June 30, 2014 and 2013 were as follows: | ||||||||||||||||||||||||||||||||
Loss Share Receivable | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 54,748 | $ | 95,593 | $ | 61,827 | $ | 113,734 | ||||||||||||||||||||||||
Amortization | (4,185 | ) | (5,998 | ) | (10,048 | ) | (14,101 | ) | ||||||||||||||||||||||||
Increase/(decrease) due to impairment (recapture) on covered loans | (3,897 | ) | 2,319 | 927 | 7,858 | |||||||||||||||||||||||||||
FDIC reimbursement | (1,237 | ) | (5,397 | ) | (6,324 | ) | (15,947 | ) | ||||||||||||||||||||||||
Covered loans paid in full | (1,448 | ) | (2,607 | ) | (2,401 | ) | (7,634 | ) | ||||||||||||||||||||||||
Balance at end of the period | $ | 43,981 | $ | 83,910 | $ | 43,981 | $ | 83,910 | ||||||||||||||||||||||||
Total outstanding covered impaired loans were $637.6 million and $915.4 million as of June 30, 2014 and 2013, respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged off. Changes in the carrying amount and accretable yield for covered impaired loans were as follows for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
Covered Impaired Loans | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
(In thousands) | Accretable | Carrying | Accretable | Carrying | Accretable | Carrying | Accretable | Carrying | ||||||||||||||||||||||||
Yield | Amount of | Yield | Amount of | Yield | Amount of | Yield | Amount of | |||||||||||||||||||||||||
Loans | Loans | Loans | Loans | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 63,003 | $ | 364,488 | $ | 102,130 | $ | 656,670 | $ | 67,282 | $ | 403,692 | $ | 113,288 | $ | 762,386 | ||||||||||||||||
Accretion | (12,139 | ) | 12,139 | (17,757 | ) | 17,757 | (24,755 | ) | 24,755 | (37,271 | ) | 37,271 | ||||||||||||||||||||
Net reclassifications from non-accretable to accretable | 5,549 | — | 5,413 | — | 11,606 | — | 15,982 | — | ||||||||||||||||||||||||
Payments received, net | — | (60,146 | ) | — | (137,170 | ) | — | (111,966 | ) | — | (262,400 | ) | ||||||||||||||||||||
Disposals | (2,758 | ) | — | (8,027 | ) | — | (478 | ) | — | (10,241 | ) | — | ||||||||||||||||||||
Balance at end of period | $ | 53,655 | $ | 316,481 | $ | 81,758 | $ | 537,257 | $ | 53,655 | $ | 316,481 | $ | 81,758 | $ | 537,257 | ||||||||||||||||
Credit Quality Disclosures | ||||||||||||||||||||||||||||||||
The credit quality of the Corporation's loan portfolios is assessed as a function of net credit losses, levels of nonperforming assets and delinquencies, and credit quality ratings as defined by the Corporation. These credit quality ratings are an important part of the Corporation's overall credit risk management process and evaluation of the allowance for credit losses. | ||||||||||||||||||||||||||||||||
Generally, loans, except for certain commercial, credit card and mortgage loans, and leases on which payments are past due for 90 days are placed on nonaccrual status, unless those loans are in the process of collection and, in Management's opinion, are fully secured. Credit card loans on which payments are past due for 120 days are placed on nonaccrual status. Acquired and covered impaired loans are considered to be accruing and performing even though collection of contractual payments may be in doubt because income continues to be accreted on the loan pool as long as expected cash flows are reasonably estimable. | ||||||||||||||||||||||||||||||||
When a loan is placed on nonaccrual status, interest deemed uncollectible which had been accrued in prior years is charged against the ALL and interest deemed uncollectible accrued in the current year is reversed against interest income. Interest on mortgage loans is accrued until Management deems it uncollectible based upon the specific identification method. Payments subsequently received on nonaccrual loans are generally applied to principal. A loan is returned to accrual status when principal and interest are no longer past due and collectability is probable. This generally requires timely principal and interest payments for a minimum of six consecutive payment cycles. Loans are generally written off when deemed uncollectible or when they reach a predetermined number of days past due depending upon loan product, terms and other factors. | ||||||||||||||||||||||||||||||||
The following tables provide a summary of loans by portfolio type, including the delinquency status of those loans that continue to accrue interest and those loans that are nonaccrual: | ||||||||||||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||||||
(In thousands) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Originated Loans | Days Past Due | Total | Total | Past Due and | Nonaccrual | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (a) | Loans | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 1,094 | $ | 1,087 | $ | 6,029 | $ | 8,210 | $ | 4,849,405 | $ | 4,857,615 | $ | 80 | $ | 9,991 | ||||||||||||||||
CRE | 2,010 | 1,934 | 14,333 | 18,277 | 2,079,741 | 2,098,018 | 6,633 | 11,028 | ||||||||||||||||||||||||
Construction | — | — | — | — | 409,866 | 409,866 | — | 53 | ||||||||||||||||||||||||
Leases | 103 | — | — | 103 | 319,692 | 319,795 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 11,205 | 3,164 | 4,041 | 18,410 | 2,033,177 | 2,051,587 | 3,505 | 3,334 | ||||||||||||||||||||||||
Home Equity Lines | 1,549 | 604 | 815 | 2,968 | 995,211 | 998,179 | 535 | 1,329 | ||||||||||||||||||||||||
Credit Cards | 677 | 385 | 510 | 1,572 | 150,395 | 151,967 | 258 | 446 | ||||||||||||||||||||||||
Residential Mortgages | 13,087 | 1,820 | 7,527 | 22,434 | 557,732 | 580,166 | 4,632 | 10,560 | ||||||||||||||||||||||||
Total | $ | 29,725 | $ | 8,994 | $ | 33,255 | $ | 71,974 | $ | 11,395,219 | $ | 11,467,193 | $ | 15,643 | $ | 36,741 | ||||||||||||||||
Acquired Loans | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 1,164 | $ | 511 | $ | 4,239 | $ | 5,914 | $ | 654,347 | $ | 660,261 | $ | 40 | $ | 787 | ||||||||||||||||
CRE | 1,678 | 1,162 | 23,604 | 26,444 | 757,299 | 783,743 | — | 1,736 | ||||||||||||||||||||||||
Construction | — | — | 666 | 666 | 13,233 | 13,899 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 6,148 | 1,859 | 1,296 | 9,303 | 862,731 | 872,034 | 1,021 | 419 | ||||||||||||||||||||||||
Home Equity Lines | 5,417 | 3,089 | 1,989 | 10,495 | 257,771 | 268,266 | 643 | 534 | ||||||||||||||||||||||||
Residential Mortgages | 158 | 1,372 | 7,298 | 8,828 | 416,756 | 425,584 | 847 | 1,506 | ||||||||||||||||||||||||
Total | $ | 14,565 | $ | 7,993 | $ | 39,092 | $ | 61,650 | $ | 2,962,137 | $ | 3,023,787 | $ | 2,551 | $ | 4,982 | ||||||||||||||||
Covered Loans (b) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 2,929 | $ | — | $ | 6,893 | $ | 9,822 | $ | 46,601 | $ | 56,423 | n/a | n/a | ||||||||||||||||||
CRE | 643 | 1,702 | 79,916 | 82,261 | 134,995 | 217,256 | n/a | n/a | ||||||||||||||||||||||||
Construction | — | — | 17,278 | 17,278 | 1,823 | 19,101 | n/a | n/a | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 25 | 163 | 44 | 232 | 5,132 | 5,364 | n/a | n/a | ||||||||||||||||||||||||
Home Equity Lines | 579 | 540 | 2,036 | 3,155 | 86,661 | 89,816 | n/a | n/a | ||||||||||||||||||||||||
Residential Mortgages | 7,141 | 381 | 5,356 | 12,878 | 33,828 | 46,706 | n/a | n/a | ||||||||||||||||||||||||
Total | $ | 11,317 | $ | 2,786 | $ | 111,523 | $ | 125,626 | $ | 309,040 | $ | 434,666 | n/a | n/a | ||||||||||||||||||
(a) Installment loans 90 days or more past due and accruing include $2.5 million of loans guaranteed by the U.S. government as of June 30, 2014. | ||||||||||||||||||||||||||||||||
(b) Excludes loss share receivable of $44.0 million as of June 30, 2014. | ||||||||||||||||||||||||||||||||
(c) Acquired and covered impaired loans were not classified as nonperforming assets at June 30, 2014 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and covered impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and covered impaired loans. | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Originated Loans | Days Past Due | Total | Total | Past Due and | Nonaccrual | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (a) | Loans | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 8,941 | $ | 994 | $ | 10,622 | $ | 20,557 | $ | 4,119,010 | $ | 4,139,567 | $ | 151 | $ | 11,323 | ||||||||||||||||
CRE | 4,507 | 2,400 | 9,688 | 16,595 | 2,153,192 | 2,169,787 | 460 | 14,229 | ||||||||||||||||||||||||
Construction | 351 | 21 | 66 | 438 | 338,487 | 338,925 | — | 122 | ||||||||||||||||||||||||
Leases | 902 | — | — | 902 | 238,649 | 239,551 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 15,433 | 4,050 | 4,462 | 23,945 | 1,703,980 | 1,727,925 | 3,735 | 3,681 | ||||||||||||||||||||||||
Home Equity Lines | 1,864 | 918 | 965 | 3,747 | 916,319 | 920,066 | 418 | 1,819 | ||||||||||||||||||||||||
Credit Cards | 729 | 471 | 735 | 1,935 | 146,378 | 148,313 | 404 | 558 | ||||||||||||||||||||||||
Residential Mortgages | 19,858 | 2,072 | 9,350 | 31,280 | 497,973 | 529,253 | 6,008 | 10,471 | ||||||||||||||||||||||||
Total | $ | 52,585 | $ | 10,926 | $ | 35,888 | $ | 99,399 | $ | 10,113,988 | $ | 10,213,387 | $ | 11,176 | $ | 42,203 | ||||||||||||||||
Acquired Loans | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing ( c ) | Loans ( c ) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 1,295 | $ | 862 | $ | 3,744 | $ | 5,901 | $ | 788,178 | $ | 794,079 | $ | 40 | $ | 795 | ||||||||||||||||
CRE | 5,603 | 5,281 | 26,366 | 37,250 | 881,395 | 918,645 | 403 | 651 | ||||||||||||||||||||||||
Construction | 2,675 | — | — | 2,675 | 10,571 | 13,246 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 14,528 | 4,076 | 3,354 | 21,958 | 982,611 | 1,004,569 | 2,263 | 679 | ||||||||||||||||||||||||
Home Equity Lines | 4,774 | 1,933 | 3,606 | 10,313 | 284,111 | 294,424 | 1,039 | 1,300 | ||||||||||||||||||||||||
Residential Mortgages | $ | 3,918 | $ | 1,426 | $ | 8,063 | $ | 13,407 | $ | 457,245 | $ | 470,652 | $ | 403 | $ | 582 | ||||||||||||||||
Total | $ | 32,793 | $ | 13,578 | $ | 45,133 | $ | 91,504 | $ | 3,404,111 | $ | 3,495,615 | $ | 4,148 | $ | 4,007 | ||||||||||||||||
Covered Loans (b) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 836 | $ | 1,489 | $ | 12,957 | $ | 15,282 | $ | 60,955 | $ | 76,237 | n/a | n/a | ||||||||||||||||||
CRE | 2,855 | 3,443 | 103,077 | 109,375 | 164,219 | 273,594 | n/a | n/a | ||||||||||||||||||||||||
Construction | 2,191 | 1,917 | 20,388 | 24,496 | 1,533 | 26,029 | n/a | n/a | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 33 | — | — | 33 | 6,130 | 6,163 | n/a | n/a | ||||||||||||||||||||||||
Home Equity Lines | 544 | 1,467 | 1,651 | 3,662 | 93,780 | 97,442 | n/a | n/a | ||||||||||||||||||||||||
Residential Mortgages | 7,463 | 1,565 | 5,165 | 14,193 | 36,485 | 50,678 | n/a | n/a | ||||||||||||||||||||||||
Total | $ | 13,922 | $ | 9,881 | $ | 143,238 | $ | 167,041 | $ | 363,102 | $ | 530,143 | n/a | n/a | ||||||||||||||||||
(a) Installment loans 90 days or more past due and accruing include $2.1 million of loans guaranteed by the U.S. government as of December 31, 2013. | ||||||||||||||||||||||||||||||||
(b) Excludes loss share receivable of $61.8 million as of December 31, 2013. | ||||||||||||||||||||||||||||||||
(c) Acquired and covered impaired loans were not classified as nonperforming assets at December 31, 2013 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and covered impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and covered impaired loans. | ||||||||||||||||||||||||||||||||
As of June 30, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Originated Loans | Days Past Due | Total | Total | Past Due and | Nonaccrual | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (a) | Loans | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 732 | $ | 587 | $ | 3,537 | $ | 4,856 | $ | 3,473,334 | $ | 3,478,190 | $ | 10 | $ | 9,834 | ||||||||||||||||
CRE | 7,950 | 2,413 | 11,584 | 21,947 | 2,192,910 | 2,214,857 | 1,602 | 18,954 | ||||||||||||||||||||||||
Construction | 523 | 537 | 430 | 1,490 | 303,275 | 304,765 | 348 | 147 | ||||||||||||||||||||||||
Leases | — | — | — | — | 188,353 | 188,353 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 9,141 | 3,080 | 5,021 | 17,242 | 1,479,421 | 1,496,663 | 4,184 | 4,146 | ||||||||||||||||||||||||
Home Equity Lines | 1,080 | 1,048 | 1,122 | 3,250 | 841,801 | 845,051 | 710 | 1,841 | ||||||||||||||||||||||||
Credit Cards | 817 | 350 | 783 | 1,950 | 140,369 | 142,319 | 423 | 433 | ||||||||||||||||||||||||
Residential Mortgages | 13,378 | 3,733 | 7,138 | 24,249 | 438,178 | 462,427 | 4,483 | 10,108 | ||||||||||||||||||||||||
Total | $ | 33,621 | $ | 11,748 | $ | 29,615 | $ | 74,984 | $ | 9,057,641 | $ | 9,132,625 | $ | 11,760 | $ | 45,463 | ||||||||||||||||
Acquired Loans | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing ( c ) | Loans ( c ) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 607 | $ | 85 | $ | 1,914 | $ | 2,606 | $ | 1,157,738 | $ | 1,160,344 | $ | — | $ | 2,245 | ||||||||||||||||
CRE | 6,731 | 6,875 | 24,775 | 38,381 | 1,059,743 | 1,098,124 | — | 494 | ||||||||||||||||||||||||
Construction | — | — | 724 | 724 | 16,051 | 16,775 | 724 | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 11,576 | 2,440 | 2,252 | 16,268 | 1,204,792 | 1,221,060 | 151 | 715 | ||||||||||||||||||||||||
Home Equity Lines | 4,785 | 1,579 | 2,404 | 8,768 | 313,427 | 322,195 | — | 5,396 | ||||||||||||||||||||||||
Residential Mortgages | 14,460 | 4,036 | 7,591 | 26,087 | 414,307 | 440,394 | 45 | 77 | ||||||||||||||||||||||||
Total | $ | 38,159 | $ | 15,015 | $ | 39,660 | $ | 92,834 | $ | 4,166,058 | $ | 4,258,892 | $ | 920 | $ | 8,927 | ||||||||||||||||
Covered Loans (b) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 4,451 | $ | 497 | $ | 13,693 | $ | 18,641 | $ | 67,290 | $ | 85,931 | n/a | n/a | ||||||||||||||||||
CRE | 5,751 | 10,666 | 145,368 | 161,785 | 220,306 | 382,091 | n/a | n/a | ||||||||||||||||||||||||
Construction | 1,308 | — | 32,183 | 33,491 | 4,194 | 37,685 | n/a | n/a | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 17 | 54 | — | 71 | 7,723 | 7,794 | n/a | n/a | ||||||||||||||||||||||||
Home Equity Lines | 1,027 | 153 | 1,834 | 3,014 | 103,955 | 106,969 | n/a | n/a | ||||||||||||||||||||||||
Residential Mortgages | 8,760 | 1,538 | 8,090 | 18,388 | 37,668 | 56,056 | n/a | n/a | ||||||||||||||||||||||||
Total | $ | 21,314 | $ | 12,908 | $ | 201,168 | $ | 235,390 | $ | 441,136 | $ | 676,526 | n/a | n/a | ||||||||||||||||||
(a) Installment loans 90 days or more past due and accruing include $3.1 million of loans guaranteed by the U.S. government as of June 30, 2013. | ||||||||||||||||||||||||||||||||
(b) Excludes loss share receivable of $83.9 million as of June 30, 2013. | ||||||||||||||||||||||||||||||||
(c) Acquired and covered impaired loans were not classified as nonperforming assets at June 30, 2013 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and covered impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and covered impaired loans. | ||||||||||||||||||||||||||||||||
Individual commercial loans are assigned credit risk grades based on an internal assessment of conditions that affect a borrower’s ability to meet its contractual obligation under the loan agreement. The assessment process includes reviewing a borrower’s current financial information, historical payment experience, credit documentation, public information, and other information specific to each borrower. Commercial loans are reviewed on an annual, quarterly or rotational basis or as Management becomes aware of information during a borrower’s ability to fulfill its obligation. For consumer loans, Management evaluates credit quality based on the aging status of the loan as well as by payment activity, which is presented in the above tables. | ||||||||||||||||||||||||||||||||
The credit-risk grading process for commercial loans is summarized as follows: | ||||||||||||||||||||||||||||||||
“Pass” Loans (Grades 1, 2, 3, 4) are not considered a greater than normal credit risk. Generally, the borrowers have the apparent ability to satisfy obligations to the bank, and the Corporation anticipates insignificant uncollectible amounts based on its individual loan review. | ||||||||||||||||||||||||||||||||
“Special-Mention” Loans (Grade 5) are commercial loans that have identified potential weaknesses that deserve Management’s close attention. If left uncorrected, these potential weaknesses may result in noticeable deterioration of the repayment prospects for the asset or in the institution’s credit position. | ||||||||||||||||||||||||||||||||
“Substandard” Loans (Grade 6) are inadequately protected by the current financial condition and paying capacity of the obligor or by any collateral pledged. Loans so classified have a well-defined weakness or weaknesses that may jeopardize the liquidation of the debt pursuant to the contractual principal and interest terms. Such loans are characterized by the distinct possibility that the Corporation may sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||||||
“Doubtful” Loans (Grade 7) have all the weaknesses inherent in those classified as substandard, with the added characteristic that existing facts, conditions, and values make collection or liquidation in full highly improbable. Such loans are currently managed separately to determine the highest recovery alternatives. | ||||||||||||||||||||||||||||||||
“Loss” Loans (Grade 8) are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. These loans are charged off when loss is identified. | ||||||||||||||||||||||||||||||||
The following tables provide a summary of commercial loans by portfolio type and the Corporation's internal credit quality rating: | ||||||||||||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Originated Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 33,855 | $ | — | $ | — | $ | 9,408 | ||||||||||||||||||||||||
Grade 2 | 134,682 | 3,610 | — | 10,971 | ||||||||||||||||||||||||||||
Grade 3 | 1,100,807 | 290,652 | 36,954 | 55,648 | ||||||||||||||||||||||||||||
Grade 4 | 3,439,210 | 1,725,808 | 371,488 | 236,324 | ||||||||||||||||||||||||||||
Grade 5 | 100,776 | 29,382 | — | 7,092 | ||||||||||||||||||||||||||||
Grade 6 | 48,285 | 48,566 | 1,424 | 352 | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 4,857,615 | $ | 2,098,018 | $ | 409,866 | $ | 319,795 | ||||||||||||||||||||||||
Acquired Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 700 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | 35,608 | 26,652 | — | — | ||||||||||||||||||||||||||||
Grade 4 | 553,293 | 651,011 | 13,899 | — | ||||||||||||||||||||||||||||
Grade 5 | 41,213 | 50,267 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 29,447 | 55,813 | — | — | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 660,261 | $ | 783,743 | $ | 13,899 | $ | — | ||||||||||||||||||||||||
Covered Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 1,015 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 4 | 38,892 | 104,455 | 707 | — | ||||||||||||||||||||||||||||
Grade 5 | 999 | 3,984 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 15,517 | 108,637 | 18,045 | — | ||||||||||||||||||||||||||||
Grade 7 | — | 180 | 349 | — | ||||||||||||||||||||||||||||
Total | $ | 56,423 | $ | 217,256 | $ | 19,101 | $ | — | ||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Originated Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 34,909 | $ | 241 | $ | — | $ | 9,271 | ||||||||||||||||||||||||
Grade 2 | 108,709 | 3,730 | — | 2,900 | ||||||||||||||||||||||||||||
Grade 3 | 802,624 | 315,150 | 25,632 | 54,446 | ||||||||||||||||||||||||||||
Grade 4 | 3,083,458 | 1,759,383 | 306,795 | 167,022 | ||||||||||||||||||||||||||||
Grade 5 | 71,857 | 34,969 | 267 | 5,750 | ||||||||||||||||||||||||||||
Grade 6 | 38,010 | 56,314 | 6,231 | 162 | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 4,139,567 | $ | 2,169,787 | $ | 338,925 | $ | 239,551 | ||||||||||||||||||||||||
Acquired Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 1,741 | 703 | — | — | ||||||||||||||||||||||||||||
Grade 3 | 79,634 | 29,224 | — | — | ||||||||||||||||||||||||||||
Grade 4 | 643,495 | 722,307 | 13,246 | — | ||||||||||||||||||||||||||||
Grade 5 | 46,807 | 93,499 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 22,402 | 72,912 | — | — | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 794,079 | $ | 918,645 | $ | 13,246 | $ | — | ||||||||||||||||||||||||
Covered Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 968 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 4 | 41,115 | 113,863 | 601 | — | ||||||||||||||||||||||||||||
Grade 5 | 427 | 6,219 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 31,621 | 153,318 | 23,208 | — | ||||||||||||||||||||||||||||
Grade 7 | 2,106 | 194 | 2,220 | — | ||||||||||||||||||||||||||||
Total | $ | 76,237 | $ | 273,594 | $ | 26,029 | $ | — | ||||||||||||||||||||||||
As of June 30, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Originated Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 40,185 | $ | 1,250 | $ | — | $ | 12,815 | ||||||||||||||||||||||||
Grade 2 | 124,748 | 3,859 | — | 709 | ||||||||||||||||||||||||||||
Grade 3 | 721,517 | 297,052 | 19,119 | 36,743 | ||||||||||||||||||||||||||||
Grade 4 | 2,483,972 | 1,826,543 | 282,034 | 134,834 | ||||||||||||||||||||||||||||
Grade 5 | 41,698 | 32,705 | 1,363 | 3,042 | ||||||||||||||||||||||||||||
Grade 6 | 66,070 | 53,448 | 2,249 | 210 | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 8 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 3,478,190 | $ | 2,214,857 | $ | 304,765 | $ | 188,353 | ||||||||||||||||||||||||
Acquired Loans | ||||||||||||||||||||||||||||||||
Acquired Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 107 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | 24,511 | 28,509 | — | — | ||||||||||||||||||||||||||||
Grade 4 | 1,050,350 | 848,214 | 15,558 | — | ||||||||||||||||||||||||||||
Grade 5 | 58,399 | 125,154 | 1,217 | — | ||||||||||||||||||||||||||||
Grade 6 | 26,977 | 96,247 | — | — | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 8 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 1,160,344 | $ | 1,098,124 | $ | 16,775 | $ | — | ||||||||||||||||||||||||
Covered Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 1,001 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 4 | 44,148 | 131,889 | 556 | — | ||||||||||||||||||||||||||||
Grade 5 | 661 | 24,255 | 1,364 | — | ||||||||||||||||||||||||||||
Grade 6 | 38,065 | 224,533 | 33,856 | — | ||||||||||||||||||||||||||||
Grade 7 | 2,056 | 1,414 | 1,909 | — | ||||||||||||||||||||||||||||
Grade 8 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 85,931 | $ | 382,091 | $ | 37,685 | $ | — | ||||||||||||||||||||||||
Allowance_for_Loan_Losses_Note
Allowance for Loan Losses (Notes) | 6 Months Ended | ||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Allowance for loan losses [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | ' | ||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
The Corporation's Credit Policy Division manages credit risk by establishing common credit policies for its subsidiary bank, participating in approval of its loans, conducting reviews of loan portfolios, providing centralized consumer underwriting, collections and loan operation services, and overseeing loan workouts. The Corporation's objective is to minimize losses from its commercial lending activities and to maintain consumer losses at acceptable levels that are stable and consistent with growth and profitability objectives. | |||||||||||||||||||||||||||||||||||||
The ALL is Management's estimate of the amount of probable credit losses inherent in a loan portfolio at the balance sheet date. The following describes the distinctions in methodology used to estimate the ALL of originated, acquired and covered loan portfolios as well as certain significant accounting policies relevant to each category. | |||||||||||||||||||||||||||||||||||||
Allowance for Originated Loan Losses | |||||||||||||||||||||||||||||||||||||
Management estimates credit losses based on originated individual loans determined to be impaired and on all other loans grouped based on similar risk characteristics. Management also considers internal and external factors such as economic conditions, loan management practices, portfolio monitoring, and other risks, collectively known as qualitative factors, or Q-factors, to estimate credit losses in the loan portfolio. Q-factors are used to reflect changes in the portfolio's collectability characteristics not captured by historical loss data. | |||||||||||||||||||||||||||||||||||||
The Corporation's historical loss component is the most significant of the ALL components and is based on historical loss experience by credit-risk grade (for commercial loan pools) and payment status (for mortgage and consumer loan pools). The historical loss experience component of the ALL represents the results of migration analysis of historical net charge-offs for portfolios of loans (including groups of commercial loans within each credit-risk grade and groups of consumer loans by payment status). For measuring loss exposure in a pool of loans, the historical net charge-off or migration experience is utilized to estimate expected losses to be realized from the pool of loans. | |||||||||||||||||||||||||||||||||||||
If a nonperforming, substandard loan has an outstanding balance of $0.3 million or greater or if a doubtful loan has an outstanding balance of $0.1 million or greater, as determined by the Corporation's credit-risk grading process, further analysis is performed to determine the probable loss content and assign a specific allowance to the loan, if deemed appropriate. The ALL relating to originated loans that have become impaired is based on either expected cash flows discounted using the original effective interest rate, the observable market price, or the fair value of the collateral for certain collateral dependent loans. | |||||||||||||||||||||||||||||||||||||
Loans are generally written off when deemed uncollectible or when they reach a predetermined number of days past due depending upon loan product, terms, and other factors. | |||||||||||||||||||||||||||||||||||||
The following tables show activity in the originated ALL, by portfolio segment for the three and six months ended June 30, 2014 and 2013, as well as the corresponding recorded investment in originated loans at the end of the period: | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Originated Loans | C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | ||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 40,175 | $ | 13,385 | $ | 1,470 | $ | 1,027 | $ | 11,604 | $ | 13,160 | $ | 6,851 | $ | 4,444 | $ | 92,116 | |||||||||||||||||||
Charge-offs | (361 | ) | (2,696 | ) | — | — | (4,076 | ) | (1,870 | ) | (1,311 | ) | (834 | ) | (11,148 | ) | |||||||||||||||||||||
Recoveries | 372 | 30 | 2 | 372 | 2,741 | 966 | 439 | 67 | 4,989 | ||||||||||||||||||||||||||||
Provision for loan losses | 3,070 | (1,989 | ) | (149 | ) | (371 | ) | 1,974 | 1,647 | 1,349 | 462 | 5,993 | |||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 43,256 | $ | 8,730 | $ | 1,323 | $ | 1,028 | $ | 12,243 | $ | 13,903 | $ | 7,328 | $ | 4,139 | $ | 91,950 | |||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 42,981 | $ | 12,265 | $ | 2,810 | $ | 1,081 | $ | 11,935 | $ | 12,900 | $ | 7,740 | $ | 4,772 | $ | 96,484 | |||||||||||||||||||
Charge-offs | (5,435 | ) | (2,775 | ) | — | — | (8,660 | ) | (3,279 | ) | (2,766 | ) | (1,393 | ) | (24,308 | ) | |||||||||||||||||||||
Recoveries | 1,369 | 34 | 30 | 372 | 5,490 | 1,870 | 857 | 105 | 10,127 | ||||||||||||||||||||||||||||
Provision for loan losses | 4,341 | (794 | ) | (1,517 | ) | (425 | ) | 3,478 | 2,412 | 1,497 | 655 | 9,647 | |||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 43,256 | $ | 8,730 | $ | 1,323 | $ | 1,028 | $ | 12,243 | $ | 13,903 | $ | 7,328 | $ | 4,139 | $ | 91,950 | |||||||||||||||||||
Ending allowance for originated loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,092 | $ | 112 | $ | 9 | $ | — | $ | 1,008 | $ | 201 | $ | 361 | $ | 1,019 | $ | 7,802 | |||||||||||||||||||
Collectively evaluated for impairment | 38,164 | 8,618 | 1,314 | 1,028 | 11,235 | 13,702 | 6,967 | 3,120 | 84,148 | ||||||||||||||||||||||||||||
Total ending allowance for originated loan losses balance | $ | 43,256 | $ | 8,730 | $ | 1,323 | $ | 1,028 | $ | 12,243 | $ | 13,903 | $ | 7,328 | $ | 4,139 | $ | 91,950 | |||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||||||
Originated loans individually evaluated for impairment | $ | 10,404 | $ | 25,484 | $ | 53 | $ | — | $ | 24,394 | $ | 6,956 | $ | 979 | $ | 26,297 | $ | 94,567 | |||||||||||||||||||
Originated loans collectively evaluated for impairment | 4,847,211 | 2,072,534 | 409,813 | 319,795 | 2,027,193 | 991,223 | 150,988 | 553,869 | 11,372,626 | ||||||||||||||||||||||||||||
Total ending originated loan balance | $ | 4,857,615 | $ | 2,098,018 | $ | 409,866 | $ | 319,795 | $ | 2,051,587 | $ | 998,179 | $ | 151,967 | $ | 580,166 | $ | 11,467,193 | |||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | ||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 40,427 | $ | 18,399 | $ | 2,741 | $ | 1,129 | $ | 9,151 | $ | 14,568 | $ | 7,069 | $ | 5,359 | $ | 98,843 | |||||||||||||||||||
Charge-offs | (2,000 | ) | (750 | ) | — | (1,237 | ) | (3,612 | ) | (1,497 | ) | (1,459 | ) | (414 | ) | (10,969 | ) | ||||||||||||||||||||
Recoveries | 3,528 | 203 | 31 | — | 2,739 | 599 | 469 | 51 | 7,620 | ||||||||||||||||||||||||||||
Provision for loan losses | 3,212 | (1,029 | ) | (728 | ) | 1,017 | 447 | (404 | ) | 1,209 | (573 | ) | 3,151 | ||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 45,167 | $ | 16,823 | $ | 2,044 | $ | 909 | $ | 8,725 | $ | 13,266 | $ | 7,288 | $ | 4,423 | $ | 98,645 | |||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 36,209 | $ | 20,126 | $ | 3,821 | $ | 639 | $ | 11,154 | $ | 13,724 | $ | 7,384 | $ | 5,885 | $ | 98,942 | |||||||||||||||||||
Charge-offs | (4,103 | ) | (803 | ) | (516 | ) | (1,237 | ) | (8,206 | ) | (3,334 | ) | (2,862 | ) | (684 | ) | (21,745 | ) | |||||||||||||||||||
Recoveries | 4,583 | 335 | 89 | 89 | 5,235 | 1,082 | 982 | 94 | 12,489 | ||||||||||||||||||||||||||||
Provision for loan losses | 8,478 | (2,835 | ) | (1,350 | ) | 1,418 | 542 | 1,794 | 1,784 | (872 | ) | 8,959 | |||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 45,167 | $ | 16,823 | $ | 2,044 | $ | 909 | $ | 8,725 | $ | 13,266 | $ | 7,288 | $ | 4,423 | $ | 98,645 | |||||||||||||||||||
Ending allowance for originated loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,169 | $ | 1,010 | $ | — | $ | — | $ | 557 | $ | 197 | $ | 255 | $ | 1,280 | $ | 6,468 | |||||||||||||||||||
Collectively evaluated for impairment | 41,998 | 15,813 | 2,044 | 909 | 8,168 | 13,069 | 7,033 | 3,143 | 92,177 | ||||||||||||||||||||||||||||
Total ending allowance for originated loan losses balance | $ | 45,167 | $ | 16,823 | $ | 2,044 | $ | 909 | $ | 8,725 | $ | 13,266 | $ | 7,288 | $ | 4,423 | $ | 98,645 | |||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||||||
Originated loans individually evaluated for impairment | $ | 9,439 | $ | 24,400 | $ | 1,005 | $ | — | $ | 30,140 | $ | 6,819 | $ | 1,262 | $ | 23,221 | $ | 96,286 | |||||||||||||||||||
Originated loans collectively evaluated for impairment | 3,468,751 | 2,190,457 | 303,760 | 188,353 | 1,466,523 | 838,232 | 141,057 | 439,206 | 9,036,339 | ||||||||||||||||||||||||||||
Total ending originated loan balance | $ | 3,478,190 | $ | 2,214,857 | $ | 304,765 | $ | 188,353 | $ | 1,496,663 | $ | 845,051 | $ | 142,319 | $ | 462,427 | $ | 9,132,625 | |||||||||||||||||||
The following table presents the originated ALL and the recorded investment as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | ||||||||||||||||||||||||||||
Ending allowance for originated loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,235 | $ | 229 | $ | — | $ | — | $ | 1,014 | $ | 223 | $ | 312 | $ | 1,133 | $ | 6,146 | |||||||||||||||||||
Collectively evaluated for impairment | 39,746 | 12,036 | 2,810 | 1,081 | 10,921 | 12,677 | 7,428 | 3,639 | 90,338 | ||||||||||||||||||||||||||||
Total ending allowance for originated loan losses balance | $ | 42,981 | $ | 12,265 | $ | 2,810 | $ | 1,081 | $ | 11,935 | $ | 12,900 | $ | 7,740 | $ | 4,772 | $ | 96,484 | |||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 8,053 | $ | 20,616 | $ | 906 | $ | — | $ | 27,285 | $ | 6,726 | $ | 1,112 | $ | 23,066 | $ | 87,764 | |||||||||||||||||||
Loans collectively evaluated for impairment | 4,131,514 | 2,149,171 | 338,019 | 239,551 | 1,700,640 | 913,340 | 147,201 | 506,187 | 10,125,623 | ||||||||||||||||||||||||||||
Total ending originated loan balance | $ | 4,139,567 | $ | 2,169,787 | $ | 338,925 | $ | 239,551 | $ | 1,727,925 | $ | 920,066 | $ | 148,313 | $ | 529,253 | $ | 10,213,387 | |||||||||||||||||||
Allowance for Acquired Loan Losses | |||||||||||||||||||||||||||||||||||||
In accordance with the acquisition method of accounting, the Citizens' loans were recorded at their fair value as of the Acquisition Date and the prior ALL was eliminated. An ALL for acquired nonimpaired loans is estimated using a methodology similar to that used for originated loans, that is, based on a specific reserve analysis for loans individually evaluated for impairment and based on historical loss rates for loans collectively evaluated for impairment. If the computed ALL is greater than the remaining fair value discount, the excess is added to the ALL through a provision for loan losses. If the computed ALL is less, no additional ALL is recognized. As of June 30, 2014, the computed ALL was less than the remaining fair value discount, therefore, no ALL for acquired nonimpaired loans was required. | |||||||||||||||||||||||||||||||||||||
Charge-offs and actual losses on an acquired nonimpaired loan first reduce any remaining fair value discount for that loan. Once a loan's discount is depleted, charge-offs and actual losses are applied against the acquired ALL. During the three and six months ended June 30, 2014, provision for loan losses, equal to net charge-offs, of $3.8 million and $9.4 million, respectively, were recorded. Charge-offs on acquired nonimpaired loans were mainly related to consumer loans that were written off in accordance with the Corporation's credit policies based on a predetermined number of days past due. | |||||||||||||||||||||||||||||||||||||
The ALL for acquired impaired loans is determined by comparing the present value of the cash flows expected to be collected to the carrying amount for a given pool of loans. Management reforecasts the estimated cash flows expected to be collected on acquired impaired loans on a quarterly basis. If the present value of expected cash flows for a pool is less than its carrying value, impairment is recognized in the current period by an increase in the acquired ALL and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established acquired ALL is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. See Note 4 (Loans) for further information on changes in accretable yield. | |||||||||||||||||||||||||||||||||||||
The following table presents activity in the allowance for acquired impaired loan losses for the three and six months ended June 30, 2014. There was no allowance for acquired impaired loans as of June 30, 2013. | |||||||||||||||||||||||||||||||||||||
Allowance for Acquired Impaired Loan Losses | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2014 | |||||||||||||||||||||||||||||||||||
Balance at beginning of the period | $ | 2,974 | $ | 741 | |||||||||||||||||||||||||||||||||
Charge-offs | — | — | |||||||||||||||||||||||||||||||||||
Recoveries | — | — | |||||||||||||||||||||||||||||||||||
Provision for loan losses | 2,003 | 4,236 | |||||||||||||||||||||||||||||||||||
Balance at end of the period | $ | 4,977 | $ | 4,977 | |||||||||||||||||||||||||||||||||
Allowance for Covered Loan Losses | |||||||||||||||||||||||||||||||||||||
The ALL on covered loans is estimated similar to acquired loans as described above except any increase to the ALL and provision for loan losses is partially offset by an increase in the loss share receivable for the portion of the losses recoverable under the loss sharing agreements with the FDIC. Additionally, the Corporation elected to account for all covered loans as impaired except for those loans acquired with revolving privileges, which are outside the scope of impaired loan accounting, and, therefore, are accounted for as covered nonimpaired loans. As of June 30, 2014, the computed ALL was less than the remaining fair value discount, therefore, no ALL for covered nonimpaired loans was recorded. | |||||||||||||||||||||||||||||||||||||
The following table presents activity in the allowance for covered impaired loan losses for the three and six months ended June 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||
Allowance for Covered Impaired Loan Losses | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Balance at beginning of the period | $ | 49,970 | $ | 47,945 | $ | 44,027 | $ | 43,255 | |||||||||||||||||||||||||||||
Net provision/(recapture) of loan losses before benefit attributable to FDIC loss share agreements | (451 | ) | 6,477 | 7,428 | 16,154 | ||||||||||||||||||||||||||||||||
Net (benefit)/recapture attributable to FDIC loss share agreements | 3,897 | (2,319 | ) | (927 | ) | (7,858 | ) | ||||||||||||||||||||||||||||||
Net provision for loan losses | 3,446 | 4,158 | 6,501 | 8,296 | |||||||||||||||||||||||||||||||||
Increase (decrease) in loss share receivable | (3,897 | ) | 2,319 | 927 | 7,858 | ||||||||||||||||||||||||||||||||
Loans charged-off | (4,410 | ) | (5,353 | ) | (6,346 | ) | (10,340 | ) | |||||||||||||||||||||||||||||
Balance at end of the period | $ | 45,109 | $ | 49,069 | $ | 45,109 | $ | 49,069 | |||||||||||||||||||||||||||||
During the three months ended June 30, 2014, $0.5 million of previously recognized losses on covered impaired loans were recaptured with an offsetting decrease of $3.9 million in the loss share receivable. This net provision of $3.4 million compares to $4.2 million in the three months ended June 30, 2013. During the six months ended June 30, 2014, $7.4 million of provision on covered impaired loans was recognized with an offsetting increase of $0.9 million in the loss share receivable. This net provision of $6.5 million compares to $8.3 million in the six months ended June 30, 2013. | |||||||||||||||||||||||||||||||||||||
An acquired or covered loan may be resolved either through receipt of payment (in full or in part) from the borrower, the sale of the loan to a third party, or foreclosure of the collateral. In the period of resolution of a nonimpaired loan, any remaining unamortized fair value adjustment is recognized as interest income. In the period of resolution of an impaired loan accounted for on an individual basis, the difference between the carrying amount of the loan and the proceeds received is recognized as a gain or loss within noninterest income. The majority of impaired loans are accounted for within a pool of loans which results in any difference between the proceeds received and the loan carrying amount being deferred as part of the carrying amount of the pool. The accretable amount of the pool remains unaffected from the resolution until the subsequent quarterly cash flow re-estimation. Favorable results from removal of the resolved loan from the pool increase the future accretable yield of the pool, while unfavorable results are recorded as impairment in the quarter of the cash flow re-estimation. Acquired or covered impaired loans subject to modification are not removed from a pool even if those loans would otherwise be deemed TDRs as the pool, and not the individual loan, represents the unit of account. | |||||||||||||||||||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||||||||||||||
A loan is considered to be impaired when, based on current events or information, it is probable the Corporation will be unable to collect all amounts due (principal and interest) per the contractual terms of the loan agreement. | |||||||||||||||||||||||||||||||||||||
Interest income recognized on impaired loans was $20.0 thousand and $123.0 thousand for the three months and six months ended June 30, 2014, respectively, compared to $79.0 thousand and $165.0 thousand for the three months and six months ended June 30, 2013, respectively. Interest income which would have been earned in accordance with the original terms was $0.5 million and $1.3 million for the three months and six months ended June 30, 2014, respectively, compared to $1.1 million and $1.8 million for the three months and six months ended June 30, 2013, respectively. | |||||||||||||||||||||||||||||||||||||
Loan impairment is measured based on either the present value of expected future cash flows discounted at the loan's effective interest rate, at the observable market price of the loan, or the fair value of the collateral for certain collateral dependent loans. Impaired loans include all nonaccrual commercial, agricultural, construction, and commercial real estate loans, and loans modified as a TDR, regardless of nonperforming status. Acquired and covered impaired loans are not considered or reported as impaired loans. Nonimpaired acquired loans that are subsequently placed on nonaccrual status are reported as impaired loans and included in the tables below. Acquired loans restructured after acquisition are not considered or reported as TDRs if the loans evidenced credit deterioration as of the date of acquisition and are accounted for in pools. | |||||||||||||||||||||||||||||||||||||
The following tables provide further detail on impaired loans individually evaluated for impairment and the associated ALL. Certain impaired loans do not have a related ALL as the valuation of these impaired loans exceeded the recorded investment. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Originated Loans | Unpaid | Average | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||||||||||||||
(In thousands) | Investment | Balance | Allowance | Investment | |||||||||||||||||||||||||||||||||
Impaired loans with no related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 2,538 | $ | 4,980 | $ | — | $ | 3,543 | |||||||||||||||||||||||||||||
CRE | 20,635 | 26,026 | — | 22,249 | |||||||||||||||||||||||||||||||||
Construction | 53 | 76 | — | 256 | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 4,510 | 4,620 | — | 4,636 | |||||||||||||||||||||||||||||||||
Home equity line | 1,041 | 1,047 | — | 1,067 | |||||||||||||||||||||||||||||||||
Credit card | 34 | 34 | — | 48 | |||||||||||||||||||||||||||||||||
Residential mortgages | 12,729 | 15,748 | — | 12,828 | |||||||||||||||||||||||||||||||||
Subtotal | 41,540 | 52,531 | — | 44,627 | |||||||||||||||||||||||||||||||||
Impaired loans with a related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 7,866 | 11,562 | 5,092 | 8,071 | |||||||||||||||||||||||||||||||||
CRE | 4,849 | 4,851 | 112 | 829 | |||||||||||||||||||||||||||||||||
Construction | — | — | 9 | — | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 19,884 | 20,673 | 1,008 | 20,498 | |||||||||||||||||||||||||||||||||
Home equity line | 5,915 | 6,145 | 201 | 5,995 | |||||||||||||||||||||||||||||||||
Credit card | 945 | 945 | 361 | 1,019 | |||||||||||||||||||||||||||||||||
Residential mortgages | 13,568 | 13,678 | 1,019 | 13,612 | |||||||||||||||||||||||||||||||||
Subtotal | 53,027 | 57,854 | 7,802 | 50,024 | |||||||||||||||||||||||||||||||||
Total impaired loans | $ | 94,567 | $ | 110,385 | $ | 7,802 | $ | 94,651 | |||||||||||||||||||||||||||||
Note 1: These tables exclude loans fully charged off. | |||||||||||||||||||||||||||||||||||||
Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | Unpaid | Average | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||||||||||||||
(In thousands) | Investment | Balance | Allowance | Investment | |||||||||||||||||||||||||||||||||
Impaired loans with no related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 2,503 | $ | 6,679 | $ | — | $ | 7,256 | |||||||||||||||||||||||||||||
CRE | 17,871 | 23,709 | — | 18,639 | |||||||||||||||||||||||||||||||||
Construction | 906 | 1,179 | — | 1,035 | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 2,813 | 3,978 | — | 3,338 | |||||||||||||||||||||||||||||||||
Home equity line | 1,018 | 1,347 | — | 1,079 | |||||||||||||||||||||||||||||||||
Credit card | 49 | 49 | — | 91 | |||||||||||||||||||||||||||||||||
Residential mortgages | 10,250 | 12,778 | — | 10,258 | |||||||||||||||||||||||||||||||||
Subtotal | 35,410 | 49,719 | — | 41,696 | |||||||||||||||||||||||||||||||||
Impaired loans with a related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 5,551 | 7,428 | 3,235 | 5,009 | |||||||||||||||||||||||||||||||||
CRE | 2,744 | 2,870 | 229 | 2,836 | |||||||||||||||||||||||||||||||||
Construction | — | — | — | — | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 24,472 | 24,558 | 1,014 | 24,985 | |||||||||||||||||||||||||||||||||
Home equity line | 5,707 | 5,707 | 223 | 5,874 | |||||||||||||||||||||||||||||||||
Credit card | 1,064 | 1,064 | 312 | 1,238 | |||||||||||||||||||||||||||||||||
Residential mortgages | 12,816 | 12,898 | 1,133 | 12,064 | |||||||||||||||||||||||||||||||||
Subtotal | 52,354 | 54,525 | 6,146 | 52,006 | |||||||||||||||||||||||||||||||||
Total impaired loans | $ | 87,764 | $ | 104,244 | $ | 6,146 | $ | 93,702 | |||||||||||||||||||||||||||||
Note 1: These tables exclude loans fully charged off. | |||||||||||||||||||||||||||||||||||||
Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | Unpaid | Average | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||||||||||||||
(In thousands) | Investment | Balance | Allowance | Investment | |||||||||||||||||||||||||||||||||
Impaired loans with no related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,031 | $ | 3,423 | $ | — | $ | 3,075 | |||||||||||||||||||||||||||||
CRE | 17,021 | 23,892 | — | 19,143 | |||||||||||||||||||||||||||||||||
Construction | 1,005 | 1,282 | — | 2,294 | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 3,464 | 4,882 | — | 3,838 | |||||||||||||||||||||||||||||||||
Home equity line | 1,158 | 1,481 | — | 1,217 | |||||||||||||||||||||||||||||||||
Credit card | 57 | 57 | — | 76 | |||||||||||||||||||||||||||||||||
Residential mortgages | 10,682 | 13,294 | — | 10,934 | |||||||||||||||||||||||||||||||||
Subtotal | 34,418 | 48,311 | — | 40,577 | |||||||||||||||||||||||||||||||||
Impaired loans with a related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 8,408 | 11,553 | 3,169 | 10,469 | |||||||||||||||||||||||||||||||||
CRE | 7,379 | 7,416 | 1,010 | 7,558 | |||||||||||||||||||||||||||||||||
Construction | — | — | — | — | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 26,676 | 26,772 | 557 | 27,032 | |||||||||||||||||||||||||||||||||
Home equity line | 5,661 | 5,661 | 197 | 5,784 | |||||||||||||||||||||||||||||||||
Credit card | 1,205 | 1,205 | 255 | 1,310 | |||||||||||||||||||||||||||||||||
Residential mortgages | 12,539 | 12,611 | 1,280 | 12,578 | |||||||||||||||||||||||||||||||||
Subtotal | 61,868 | 65,218 | 6,468 | 64,731 | |||||||||||||||||||||||||||||||||
Total impaired loans | $ | 96,286 | $ | 113,529 | $ | 6,468 | $ | 105,308 | |||||||||||||||||||||||||||||
Note 1: These tables exclude loans fully charged off. | |||||||||||||||||||||||||||||||||||||
Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
In certain circumstances, the Corporation may modify the terms of a loan to maximize the collection of amounts due when a borrower is experiencing financial difficulties or is expected to experience difficulties in the near term. In most cases the modification is either a concessionary reduction in interest rate, extension of the maturity date or modification of the adjustable rate provisions of the loan that would otherwise not be considered; however, forgiveness of principal is rarely granted. Concessionary modifications are classified as TDRs unless the modification is short-term, typically less than 90 days. TDRs accrue interest if the borrower complies with the revised terms and conditions and has demonstrated repayment performance at a level commensurate with the modified terms for a minimum of six consecutive payment cycles after the restructuring date. Acquired loans restructured after acquisition are not considered TDRs if the loans evidenced credit deterioration as of the Acquisition Date and are accounted for in pools. | |||||||||||||||||||||||||||||||||||||
The substantial majority of the Corporation's residential mortgage TDRs involve reducing the client's loan payment through an interest rate reduction for a set period of time based on the borrower's ability to service the modified loan payment. Modifications of mortgages retained in portfolio are handled using proprietary modification guidelines, or the FDIC's Modification Program for residential first mortgages covered by loss share agreements (agreements between the Bank and the FDIC that afford the Bank significant protection against future losses). The Corporation participates in the U.S. Treasury's Home Affordable Modification Program for originated mortgages sold to and serviced for FNMA and FHLMC. | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor is often requested. Commercial real estate and construction loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a new borrower or guarantor. Construction loans modified in a TDR may also involve extending the interest-only payment period. The Corporation has modified certain loans according to provisions in loss share agreements. Losses associated with modifications on these loans, including the economic impact of interest rate reductions, are generally eligible for reimbursement under the loss share agreements. | |||||||||||||||||||||||||||||||||||||
The following tables provide the number of loans modified in a TDR and the recorded investment and unpaid principal balance by loan portfolio as of June 30, 2014, December 31, 2013, and June 30, 2013. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 41 | $ | 7,062 | $ | 13,200 | ||||||||||||||||||||||||||||||||
CRE | 60 | 21,407 | 25,567 | ||||||||||||||||||||||||||||||||||
Construction | 31 | 53 | 76 | ||||||||||||||||||||||||||||||||||
Total originated commercial | 132 | 28,522 | 38,843 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,350 | 24,394 | 25,293 | ||||||||||||||||||||||||||||||||||
Home equity lines | 260 | 6,956 | 7,192 | ||||||||||||||||||||||||||||||||||
Credit card | 253 | 979 | 979 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 326 | 26,297 | 29,426 | ||||||||||||||||||||||||||||||||||
Total originated consumer | 2,189 | 58,626 | 62,890 | ||||||||||||||||||||||||||||||||||
Total originated loans | 2,321 | $ | 87,148 | $ | 101,733 | ||||||||||||||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | $ | 4 | $ | 4 | ||||||||||||||||||||||||||||||||
CRE | 1 | 1,661 | 1,661 | ||||||||||||||||||||||||||||||||||
Total acquired commercial | 2 | 1,665 | 1,665 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 30 | 979 | 1,032 | ||||||||||||||||||||||||||||||||||
Home equity lines | 90 | 4,710 | 4,750 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 21 | 1,461 | 1,635 | ||||||||||||||||||||||||||||||||||
Total acquired consumer | 141 | 7,150 | 7,417 | ||||||||||||||||||||||||||||||||||
Total acquired loans | 143 | $ | 8,815 | $ | 9,082 | ||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 6 | $ | 177 | $ | 1,070 | ||||||||||||||||||||||||||||||||
CRE | 24 | 37,385 | 54,480 | ||||||||||||||||||||||||||||||||||
Construction | 10 | 2,605 | 21,331 | ||||||||||||||||||||||||||||||||||
Total covered commercial | 40 | 40,167 | 76,881 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 62 | 8,489 | 8,489 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 2 | 337 | 337 | ||||||||||||||||||||||||||||||||||
Total covered consumer | 64 | 8,826 | 8,826 | ||||||||||||||||||||||||||||||||||
Total covered loans | 104 | $ | 48,993 | $ | 85,707 | ||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 48 | $ | 7,243 | $ | 14,274 | ||||||||||||||||||||||||||||||||
CRE | 85 | 60,453 | 81,708 | ||||||||||||||||||||||||||||||||||
Construction | 41 | 2,658 | 21,407 | ||||||||||||||||||||||||||||||||||
Total commercial | 174 | 70,354 | 117,389 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,380 | 25,373 | 26,325 | ||||||||||||||||||||||||||||||||||
Home equity lines | 412 | 20,155 | 20,431 | ||||||||||||||||||||||||||||||||||
Credit card | 253 | 979 | 979 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 349 | 28,095 | 31,398 | ||||||||||||||||||||||||||||||||||
Total consumer | 2,394 | 74,602 | 79,133 | ||||||||||||||||||||||||||||||||||
Total loans | 2,568 | $ | 144,956 | $ | 196,522 | ||||||||||||||||||||||||||||||||
Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 35 | $ | 4,449 | $ | 7,660 | ||||||||||||||||||||||||||||||||
CRE | 52 | 15,932 | 20,569 | ||||||||||||||||||||||||||||||||||
Construction | 30 | 905 | 1,179 | ||||||||||||||||||||||||||||||||||
Total originated commercial | 117 | 21,286 | 29,408 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,553 | 27,285 | 28,536 | ||||||||||||||||||||||||||||||||||
Home equity lines | 231 | 6,725 | 7,054 | ||||||||||||||||||||||||||||||||||
Credit card | 307 | 1,113 | 1,113 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 301 | 23,067 | 25,676 | ||||||||||||||||||||||||||||||||||
Total originated consumer | 2,392 | 58,190 | 62,379 | ||||||||||||||||||||||||||||||||||
Total originated loans | 2,509 | $ | 79,476 | $ | 91,787 | ||||||||||||||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | 6 | 5 | ||||||||||||||||||||||||||||||||||
CRE | 1 | 1,730 | 1,730 | ||||||||||||||||||||||||||||||||||
Total acquired commercial | 2 | 1,736 | 1,735 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 12 | 505 | 542 | ||||||||||||||||||||||||||||||||||
Home equity lines | 8 | 245 | 270 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 7 | 431 | 502 | ||||||||||||||||||||||||||||||||||
Total acquired consumer | 27 | 1,181 | 1,314 | ||||||||||||||||||||||||||||||||||
Total acquired loans | 29 | $ | 2,917 | $ | 3,049 | ||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 4 | $ | 1,104 | $ | 2,331 | ||||||||||||||||||||||||||||||||
CRE | 24 | 39,995 | 57,008 | ||||||||||||||||||||||||||||||||||
Construction | 10 | 4,144 | 24,547 | ||||||||||||||||||||||||||||||||||
Total covered commercial | 38 | 45,243 | 83,886 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 47 | 5,401 | 5,421 | ||||||||||||||||||||||||||||||||||
Residential Mortgages | 1 | 150 | 150 | ||||||||||||||||||||||||||||||||||
Total covered consumer | 48 | 5,551 | 5,571 | ||||||||||||||||||||||||||||||||||
Total covered loans | 86 | $ | 50,794 | $ | 89,457 | ||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 40 | $ | 5,559 | $ | 9,996 | ||||||||||||||||||||||||||||||||
CRE | 77 | 57,657 | 79,307 | ||||||||||||||||||||||||||||||||||
Construction | 40 | 5,049 | 25,726 | ||||||||||||||||||||||||||||||||||
Total commercial | 157 | 68,265 | 115,029 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,565 | 27,790 | 29,078 | ||||||||||||||||||||||||||||||||||
Home equity lines | 286 | 12,371 | 12,745 | ||||||||||||||||||||||||||||||||||
Credit card | 307 | 1,113 | 1,113 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 309 | 23,648 | 26,328 | ||||||||||||||||||||||||||||||||||
Total consumer | 2,467 | 64,922 | 69,264 | ||||||||||||||||||||||||||||||||||
Total loans | 2,624 | $ | 133,187 | $ | 184,293 | ||||||||||||||||||||||||||||||||
Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 31 | $ | 7,806 | $ | 11,489 | ||||||||||||||||||||||||||||||||
CRE | 47 | 17,361 | 21,742 | ||||||||||||||||||||||||||||||||||
Construction | 31 | 1,005 | 1,282 | ||||||||||||||||||||||||||||||||||
Total originated commercial | 109 | 26,172 | 34,513 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,757 | 30,140 | 31,654 | ||||||||||||||||||||||||||||||||||
Home equity lines | 239 | 6,819 | 7,142 | ||||||||||||||||||||||||||||||||||
Credit card | 329 | 1,262 | 1,262 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 293 | 23,221 | 25,905 | ||||||||||||||||||||||||||||||||||
Total originated consumer | 2,618 | 61,442 | 65,963 | ||||||||||||||||||||||||||||||||||
Total originated loans | 2,727 | $ | 87,614 | $ | 100,476 | ||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 3 | $ | 1,635 | $ | 1,880 | ||||||||||||||||||||||||||||||||
CRE | 21 | 46,314 | 57,021 | ||||||||||||||||||||||||||||||||||
Construction | 10 | 6,082 | 26,155 | ||||||||||||||||||||||||||||||||||
Total covered commercial | 34 | 54,031 | 85,056 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 42 | 5,562 | 5,590 | ||||||||||||||||||||||||||||||||||
Total covered loans | 76 | $ | 59,593 | $ | 90,646 | ||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 34 | $ | 9,441 | $ | 13,369 | ||||||||||||||||||||||||||||||||
CRE | 68 | 63,675 | 78,763 | ||||||||||||||||||||||||||||||||||
Construction | 41 | 7,087 | 27,437 | ||||||||||||||||||||||||||||||||||
Total commercial | 143 | 80,203 | 119,569 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,757 | 30,140 | 31,654 | ||||||||||||||||||||||||||||||||||
Home equity lines | 281 | 12,381 | 12,732 | ||||||||||||||||||||||||||||||||||
Credit card | 329 | 1,262 | 1,262 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 293 | 23,221 | 25,905 | ||||||||||||||||||||||||||||||||||
Total consumer | 2,660 | 67,004 | 71,553 | ||||||||||||||||||||||||||||||||||
Total loans | 2,803 | $ | 147,207 | $ | 191,122 | ||||||||||||||||||||||||||||||||
Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
The pre-modification and post-modification outstanding recorded investments of loans modified as TDRs during the three and six months ended June 30, 2014 and 2013 were not materially different. Post-modification balances may include capitalization of unpaid accrued interest and fees associated with the modification as well as forgiveness of principal. Loans modified as TDRs during the three and six months ended June 30, 2014 and 2013 did not involve the forgiveness of principal, accordingly, the Corporation did not record a charge-off at the modification date. Additionally, capitalization of any unpaid accrued interest and fees assessed to loans modified in the three and six months ended June 30, 2014 and 2013 were not material to the accompanying consolidated financial statements. Specific allowances for loan losses are established for loans whose terms have been modified in a TDR. Specific reserve allocations are generally assessed prior to loans being modified in a TDR, as most of these loans migrate from the Corporation's internal watch list and have been specifically allocated for as part of the Corporation's normal loan loss provisioning methodology. At June 30, 2014, the Corporation had $1.6 million in commitments to lend additional funds to debtors owing receivables whose terms have been modified in a TDR. | |||||||||||||||||||||||||||||||||||||
The following tables provide a summary of the delinquency status of TDRs along with the specific allowance for loan loss, by loan type, as of June 30, 2014, December 31, 2013, and June 30, 2013, including TDRs that continue to accrue interest and TDRs included in nonperforming assets. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||||||||
(In thousands) | Current | Delinquent | Total | Current | Delinquent | Total | TDRs | Allowance | |||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,659 | $ | — | $ | 1,659 | $ | 3,375 | $ | 2,028 | $ | 5,403 | $ | 7,062 | $ | 2,443 | |||||||||||||||||||||
CRE | 15,387 | 1,529 | 16,916 | 1,419 | 3,072 | 4,491 | 21,407 | 93 | |||||||||||||||||||||||||||||
Construction | — | — | — | 53 | — | 53 | 53 | 9 | |||||||||||||||||||||||||||||
Total originated commercial | 17,046 | 1,529 | 18,575 | 4,847 | 5,100 | 9,947 | 28,522 | 2,545 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 21,404 | 694 | 22,098 | 2,074 | 222 | 2,296 | 24,394 | 1,008 | |||||||||||||||||||||||||||||
Home equity lines | 5,767 | 188 | 5,955 | 1,001 | — | 1,001 | 6,956 | 201 | |||||||||||||||||||||||||||||
Credit card | 857 | 86 | 943 | — | 36 | 36 | 979 | 361 | |||||||||||||||||||||||||||||
Residential mortgages | 15,256 | 2,349 | 17,605 | 5,335 | 3,357 | 8,692 | 26,297 | 1,019 | |||||||||||||||||||||||||||||
Total originated consumer | 43,284 | 3,317 | 46,601 | 8,410 | 3,615 | 12,025 | 58,626 | 2,589 | |||||||||||||||||||||||||||||
Total originated TDRs | $ | 60,330 | $ | 4,846 | $ | 65,176 | $ | 13,257 | $ | 8,715 | $ | 21,972 | $ | 87,148 | $ | 5,134 | |||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | — | — | 4 | — | 4 | 4 | 4 | |||||||||||||||||||||||||||||
CRE | 1,661 | — | 1,661 | — | — | — | 1,661 | 182 | |||||||||||||||||||||||||||||
Total acquired commercial | 1,661 | — | 1,661 | 4 | — | 4 | 1,665 | 186 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 702 | 250 | 952 | 27 | — | 27 | 979 | 14 | |||||||||||||||||||||||||||||
Home equity lines | 4,026 | 576 | 4,602 | 108 | — | 108 | 4,710 | — | |||||||||||||||||||||||||||||
Residential mortgages | 670 | — | 670 | 764 | 27 | 791 | 1,461 | — | |||||||||||||||||||||||||||||
Total acquired consumer | 5,398 | 826 | 6,224 | 899 | 27 | 926 | 7,150 | 14 | |||||||||||||||||||||||||||||
Total acquired TDRs | $ | 7,059 | $ | 826 | $ | 7,885 | $ | 903 | $ | 27 | $ | 930 | $ | 8,815 | $ | 200 | |||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | — | $ | 177 | $ | 177 | $ | — | $ | — | $ | — | $ | 177 | $ | — | |||||||||||||||||||||
CRE | 4,909 | 32,476 | 37,385 | — | — | — | 37,385 | 1,129 | |||||||||||||||||||||||||||||
Construction | 666 | 1,939 | 2,605 | — | — | — | 2,605 | 68 | |||||||||||||||||||||||||||||
Total covered commercial | 5,575 | 34,592 | 40,167 | — | — | — | 40,167 | 1,197 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 8,038 | 115 | 8,153 | 336 | — | 336 | 8,489 | — | |||||||||||||||||||||||||||||
Residential mortgages | 337 | — | 337 | — | — | — | 337 | — | |||||||||||||||||||||||||||||
Total covered consumer | 8,375 | 115 | 8,490 | 336 | — | 336 | 8,826 | — | |||||||||||||||||||||||||||||
Total covered TDRs | $ | 13,950 | $ | 34,707 | $ | 48,657 | $ | 336 | $ | — | $ | 336 | $ | 48,993 | $ | 1,197 | |||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,659 | $ | 177 | $ | 1,836 | $ | 3,379 | $ | 2,028 | $ | 5,407 | $ | 7,243 | $ | 2,447 | |||||||||||||||||||||
CRE | 21,957 | 34,005 | 55,962 | 1,419 | 3,072 | 4,491 | 60,453 | 1,404 | |||||||||||||||||||||||||||||
Construction | 666 | 1,939 | 2,605 | 53 | — | 53 | 2,658 | 77 | |||||||||||||||||||||||||||||
Total commercial | 24,282 | 36,121 | 60,403 | 4,851 | 5,100 | 9,951 | 70,354 | 3,928 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 22,106 | 944 | 23,050 | 2,101 | 222 | 2,323 | 25,373 | 1,022 | |||||||||||||||||||||||||||||
Home equity lines | 17,831 | 879 | 18,710 | 1,445 | — | 1,445 | 20,155 | 201 | |||||||||||||||||||||||||||||
Credit card | 857 | 86 | 943 | — | 36 | 36 | 979 | 361 | |||||||||||||||||||||||||||||
Residential mortgages | 16,263 | 2,349 | 18,612 | 6,099 | 3,384 | 9,483 | 28,095 | 1,019 | |||||||||||||||||||||||||||||
Total consumer | 57,057 | 4,258 | 61,315 | 9,645 | 3,642 | 13,287 | 74,602 | 2,603 | |||||||||||||||||||||||||||||
Total TDRs | $ | 81,339 | $ | 40,379 | $ | 121,718 | $ | 14,496 | $ | 8,742 | $ | 23,238 | $ | 144,956 | $ | 6,531 | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||||||||
(In thousands) | Current | Delinquent | Total | Current | Delinquent | Total | TDRs | Allowance | |||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,438 | $ | 879 | $ | 2,317 | $ | 177 | $ | 1,955 | $ | 2,132 | $ | 4,449 | $ | 665 | |||||||||||||||||||||
CRE | 10,442 | 382 | 10,824 | 1,208 | 3,900 | 5,108 | 15,932 | 32 | |||||||||||||||||||||||||||||
Construction | 848 | — | 848 | — | 57 | 57 | 905 | — | |||||||||||||||||||||||||||||
Total originated commercial | 12,728 | 1,261 | 13,989 | 1,385 | 5,912 | 7,297 | 21,286 | 697 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 23,342 | 1,238 | 24,580 | 2,483 | 222 | 2,705 | 27,285 | 1,014 | |||||||||||||||||||||||||||||
Home equity lines | 5,313 | 194 | 5,507 | 1,206 | 12 | 1,218 | 6,725 | 223 | |||||||||||||||||||||||||||||
Credit card | 1,046 | 66 | 1,112 | — | 1 | 1 | 1,113 | 312 | |||||||||||||||||||||||||||||
Residential mortgages | 12,276 | 3,327 | 15,603 | 4,360 | 3,104 | 7,464 | 23,067 | 1,133 | |||||||||||||||||||||||||||||
Total originated consumer | 41,977 | 4,825 | 46,802 | 8,049 | 3,339 | 11,388 | 58,190 | 2,682 | |||||||||||||||||||||||||||||
Total originated TDRs | $ | 54,705 | $ | 6,086 | $ | 60,791 | $ | 9,434 | $ | 9,251 | $ | 18,685 | $ | 79,476 | $ | 3,379 | |||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | — | $ | — | $ | — | $ | 6 | $ | — | $ | 6 | $ | 6 | $ | — | |||||||||||||||||||||
CRE | 1,730 | — | 1,730 | — | — | — | 1,730 | — | |||||||||||||||||||||||||||||
Total acquired commercial | 1,730 | — | 1,730 | 6 | — | 6 | 1,736 | — | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 369 | 136 | 505 | — | — | — | 505 | — | |||||||||||||||||||||||||||||
Home equity lines | 182 | — | 182 | 63 | — | 63 | 245 | — | |||||||||||||||||||||||||||||
Residential mortgages | 245 | — | 245 | 32 | 154 | 186 | 431 | — | |||||||||||||||||||||||||||||
Total acquired consumer | 796 | 136 | 932 | 95 | 154 | 249 | 1,181 | — | |||||||||||||||||||||||||||||
Total acquired TDRs | $ | 2,526 | $ | 136 | $ | 2,662 | $ | 101 | $ | 154 | $ | 255 | $ | 2,917 | $ | — | |||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 362 | $ | 742 | $ | 1,104 | $ | — | $ | — | $ | — | $ | 1,104 | $ | — | |||||||||||||||||||||
CRE | 5,259 | 34,736 | 39,995 | — | — | — | 39,995 | 3,022 | |||||||||||||||||||||||||||||
Construction | 698 | 3,446 | 4,144 | — | — | — | 4,144 | 800 | |||||||||||||||||||||||||||||
Total covered commercial | 6,319 | 38,924 | 45,243 | — | — | — | 45,243 | 3,822 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 5,377 | 24 | 5,401 | — | — | — | 5,401 | — | |||||||||||||||||||||||||||||
Residential mortgages | 150 | — | 150 | — | — | — | 150 | — | |||||||||||||||||||||||||||||
Total covered consumer | 5,527 | 24 | 5,551 | — | — | — | 5,551 | — | |||||||||||||||||||||||||||||
Total covered TDRs | $ | 11,846 | $ | 38,948 | $ | 50,794 | $ | — | $ | — | $ | — | $ | 50,794 | $ | 3,822 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,800 | $ | 1,621 | $ | 3,421 | $ | 183 | $ | 1,955 | $ | 2,138 | $ | 5,559 | $ | 665 | |||||||||||||||||||||
CRE | 17,431 | 35,118 | 52,549 | 1,208 | 3,900 | 5,108 | 57,657 | 3,054 | |||||||||||||||||||||||||||||
Construction | 1,546 | 3,446 | 4,992 | — | 57 | 57 | 5,049 | 800 | |||||||||||||||||||||||||||||
Total commercial | 20,777 | 40,185 | 60,962 | 1,391 | 5,912 | 7,303 | 68,265 | 4,519 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 23,711 | 1,374 | 25,085 | 2,483 | 222 | 2,705 | 27,790 | 1,014 | |||||||||||||||||||||||||||||
Home equity lines | 10,872 | 218 | 11,090 | 1,269 | 12 | 1,281 | 12,371 | 223 | |||||||||||||||||||||||||||||
Credit card | 1,046 | 66 | 1,112 | — | 1 | 1 | 1,113 | 312 | |||||||||||||||||||||||||||||
Residential mortgages | 12,671 | 3,327 | 15,998 | 4,392 | 3,258 | 7,650 | 23,648 | 1,133 | |||||||||||||||||||||||||||||
Total consumer | 48,300 | 4,985 | 53,285 | 8,144 | 3,493 | 11,637 | 64,922 | 2,682 | |||||||||||||||||||||||||||||
Total TDRs | $ | 69,077 | $ | 45,170 | $ | 114,247 | $ | 9,535 | $ | 9,405 | $ | 18,940 | $ | 133,187 | $ | 7,201 | |||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||||||||
(In thousands) | Current | Delinquent | Total | Current | Delinquent | Total | TDRs | Allowance | |||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,021 | $ | — | $ | 1,021 | $ | 6,248 | $ | 537 | $ | 6,785 | $ | 7,806 | $ | 2,569 | |||||||||||||||||||||
CRE | 11,200 | — | 11,200 | 1,726 | 4,435 | 6,161 | 17,361 | 510 | |||||||||||||||||||||||||||||
Construction | 404 | 537 | 941 | 64 | — | 64 | 1,005 | — | |||||||||||||||||||||||||||||
Total originated commercial | 12,625 | 537 | 13,162 | 8,038 | 4,972 | 13,010 | 26,172 | 3,079 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 25,800 | 913 | 26,713 | 3,227 | 200 | 3,427 | 30,140 | 557 | |||||||||||||||||||||||||||||
Home equity lines | 5,321 | 144 | 5,465 | 1,354 | — | 1,354 | 6,819 | 197 | |||||||||||||||||||||||||||||
Credit card | 1,222 | 40 | 1,262 | — | — | — | 1,262 | 255 | |||||||||||||||||||||||||||||
Residential mortgages | 13,514 | 2,147 | 15,661 | 4,518 | 3,042 | 7,560 | 23,221 | 1,280 | |||||||||||||||||||||||||||||
Total originated consumer | 45,857 | 3,244 | 49,101 | 9,099 | 3,242 | 12,341 | 61,442 | 2,289 | |||||||||||||||||||||||||||||
Total originated TDRs | $ | 58,482 | $ | 3,781 | $ | 62,263 | $ | 17,137 | $ | 8,214 | $ | 25,351 | $ | 87,614 | $ | 5,368 | |||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 897 | $ | 738 | $ | 1,635 | $ | — | $ | — | $ | — | $ | 1,635 | $ | 518 | |||||||||||||||||||||
CRE | 5,269 | 41,045 | 46,314 | — | — | — | 46,314 | 3,749 | |||||||||||||||||||||||||||||
Construction | 1,542 | 4,540 | 6,082 | — | — | — | 6,082 | 900 | |||||||||||||||||||||||||||||
Total covered commercial | 7,708 | 46,323 | 54,031 | — | — | — | 54,031 | 5,167 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 5,065 | 497 | 5,562 | — | — | — | 5,562 | — | |||||||||||||||||||||||||||||
Total covered TDRs | $ | 12,773 | $ | 46,820 | $ | 59,593 | $ | — | $ | — | $ | — | $ | 59,593 | $ | 5,167 | |||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,918 | $ | 738 | $ | 2,656 | $ | 6,248 | $ | 537 | $ | 6,785 | $ | 9,441 | $ | 3,087 | |||||||||||||||||||||
CRE | 16,469 | 41,045 | 57,514 | 1,726 | 4,435 | 6,161 | 63,675 | 4,259 | |||||||||||||||||||||||||||||
Construction | 1,946 | 5,077 | 7,023 | 64 | — | 64 | 7,087 | 900 | |||||||||||||||||||||||||||||
Total commercial | 20,333 | 46,860 | 67,193 | 8,038 | 4,972 | 13,010 | 80,203 | 8,246 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 25,800 | 913 | 26,713 | 3,227 | 200 | 3,427 | 30,140 | 557 | |||||||||||||||||||||||||||||
Home equity lines | 10,386 | 641 | 11,027 | 1,354 | — | 1,354 | 12,381 | 197 | |||||||||||||||||||||||||||||
Credit card | 1,222 | 40 | 1,262 | — | — | — | 1,262 | 255 | |||||||||||||||||||||||||||||
Residential mortgages | 13,514 | 2,147 | 15,661 | 4,518 | 3,042 | 7,560 | 23,221 | 1,280 | |||||||||||||||||||||||||||||
Total consumer | 50,922 | 3,741 | 54,663 | 9,099 | 3,242 | 12,341 | 67,004 | 2,289 | |||||||||||||||||||||||||||||
Total TDRs | $ | 71,255 | $ | 50,601 | $ | 121,856 | $ | 17,137 | $ | 8,214 | $ | 25,351 | $ | 147,207 | $ | 10,535 | |||||||||||||||||||||
Loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the Corporation evaluates the loan for possible further impairment. The ALL may be increased, adjustments may be made in the allocation of the ALL, or partial charge-offs may be taken to further write-down the carrying value of the loan. | |||||||||||||||||||||||||||||||||||||
On an ongoing basis, the Corporation monitors the performance of modified loans to their restructured terms. In the event of a subsequent default, the ALL continues to be reassessed on the basis on an individual evaluation of the loan. | |||||||||||||||||||||||||||||||||||||
The following table provides the number of loans modified in a TDR during the previous 12 months that subsequently defaulted during the three months ended June 30, 2014, as well as the recorded investment in these restructured loans as of June 30, 2014. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | $ | 170 | ||||||||||||||||||||||||||||||||||
CRE | 1 | 363 | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total originated commercial | 2 | 533 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1 | 3 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 7 | 31 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 99 | |||||||||||||||||||||||||||||||||||
Total originated consumer | 9 | $ | 133 | ||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | — | — | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total covered commercial | — | $ | — | ||||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | $ | 170 | ||||||||||||||||||||||||||||||||||
CRE | 1 | 363 | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total commercial | 2 | 533 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1 | 3 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 7 | 31 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 99 | |||||||||||||||||||||||||||||||||||
Total consumer | 9 | 133 | |||||||||||||||||||||||||||||||||||
Total | 11 | $ | 666 | ||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 4 | $ | 1,773 | ||||||||||||||||||||||||||||||||||
CRE | 6 | 3,101 | |||||||||||||||||||||||||||||||||||
Construction | 1 | 231 | |||||||||||||||||||||||||||||||||||
Total originated commercial | 11 | 5,105 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 17 | 170 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 33 | 245 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 75 | |||||||||||||||||||||||||||||||||||
Total originated consumer | 51 | $ | 490 | ||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | 1 | — | |||||||||||||||||||||||||||||||||||
Construction | 1 | 45 | |||||||||||||||||||||||||||||||||||
Total covered commercial | 2 | $ | 45 | ||||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 4 | $ | 1,773 | ||||||||||||||||||||||||||||||||||
CRE | 7 | 3,101 | |||||||||||||||||||||||||||||||||||
Construction | 2 | 276 | |||||||||||||||||||||||||||||||||||
Total commercial | 13 | 5,150 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 17 | 170 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 33 | 245 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 75 | |||||||||||||||||||||||||||||||||||
Total consumer | 51 | 490 | |||||||||||||||||||||||||||||||||||
Total | 64 | $ | 5,640 | ||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | 1 | 85 | |||||||||||||||||||||||||||||||||||
Construction | 1 | 537 | |||||||||||||||||||||||||||||||||||
Total originated commercial | 2 | 622 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 2 | 37 | |||||||||||||||||||||||||||||||||||
Home equity lines | 1 | 15 | |||||||||||||||||||||||||||||||||||
Credit card | 9 | 79 | |||||||||||||||||||||||||||||||||||
Residential mortgages | — | — | |||||||||||||||||||||||||||||||||||
Total originated consumer | 12 | $ | 131 | ||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | — | — | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total covered commercial | — | $ | — | ||||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | 1 | 85 | |||||||||||||||||||||||||||||||||||
Construction | 1 | 537 | |||||||||||||||||||||||||||||||||||
Total commercial | 2 | 622 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 2 | 37 | |||||||||||||||||||||||||||||||||||
Home equity lines | 1 | 15 | |||||||||||||||||||||||||||||||||||
Credit card | 9 | 79 | |||||||||||||||||||||||||||||||||||
Residential mortgages | — | — | |||||||||||||||||||||||||||||||||||
Total consumer | 12 | 131 | |||||||||||||||||||||||||||||||||||
Total | 14 | $ | 753 | ||||||||||||||||||||||||||||||||||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||
Goodwill and Other Intangible Assets | ||||||||||||
Goodwill | ||||||||||||
Goodwill totaled $741.7 million as of June 30, 2014, December 31, 2013, and June 30, 2013. Goodwill is not amortized but is evaluated for impairment on an annual basis at November 30 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. No events or circumstances since the November 30, 2013 annual impairment test were noted that would indicate it was more likely than not a goodwill impairment exists. | ||||||||||||
Other Intangible Assets | ||||||||||||
The Corporation has other intangible assets that are amortized, consisting of core deposit intangibles, lease intangibles and trust relationship intangibles. The following tables show the gross carrying amount, accumulated amortization, and net carrying amount of these intangible assets. | ||||||||||||
June 30, 2014 | ||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||
(In thousands) | Amount | Amortization | Amount | |||||||||
Core deposit intangibles (a) | $ | 87,533 | $ | (20,637 | ) | $ | 66,896 | |||||
Lease intangible | 618 | (538 | ) | 80 | ||||||||
Trust relationships | 14,000 | (4,090 | ) | 9,910 | ||||||||
$ | 102,253 | $ | (25,367 | ) | $ | 76,886 | ||||||
December 31, 2013 | ||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||
(In thousands) | Amount | Amortization | Amount | |||||||||
Core deposit intangibles (a) | $ | 87,533 | $ | (16,065 | ) | $ | 71,468 | |||||
Non-compete covenant | 102 | (102 | ) | — | ||||||||
Lease intangible | 618 | (520 | ) | 98 | ||||||||
Trust Relationships (b) | 14,000 | (2,811 | ) | 11,189 | ||||||||
$ | 102,253 | $ | (19,498 | ) | $ | 82,755 | ||||||
June 30, 2013 | ||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||
(In thousands) | Amount | Amortization | Amount | |||||||||
Core deposit intangibles (a) | $ | 87,533 | $ | (12,416 | ) | $ | 75,117 | |||||
Non-compete covenant | 102 | (89 | ) | 13 | ||||||||
Lease intangible | 618 | (502 | ) | 116 | ||||||||
Trust relationships (b) | 14,000 | (827 | ) | 13,173 | ||||||||
$ | 102,253 | $ | (13,834 | ) | $ | 88,419 | ||||||
(a) Core deposit intangibles are amortized on an accelerated basis over their estimated useful lives which range from 10-15 years. | ||||||||||||
(b) Trust relationship intangibles are amortized on an accelerated basis on their estimated useful lives of 12 years. | ||||||||||||
Amortization expense for intangible assets was $5.9 million in the six months ended June 30, 2014, compared to $2.7 million in the six months ended June 30, 2013. Estimated amortization expense for each of the next five years is as follows: 2014 - $5.9 million; 2015 - $10.4 million; 2016 - $9.2 million; 2017 - $8.2 million; and 2018 - $7.3 million. |
Shareholders_Equity_Notes
Shareholders Equity (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Stockholders' Equity Note Disclosure | ' | |||||||||||||||
Shareholders' Equity | ||||||||||||||||
Common Stock Warrant | ||||||||||||||||
The Corporation has an outstanding warrant issued to the U.S. Treasury to initially purchase 2,408,203 shares of FirstMerit Common Stock. Due to a dividend protection clause, which reduces the exercise price on a penny for penny basis for any dividend paid along with a corresponding increase in the amount of shares available to purchase, the U.S. Treasury can purchase up to 2,515,892 shares at an adjusted exercise price of $17.89 as of June 30, 2014. | ||||||||||||||||
Preferred Stock | ||||||||||||||||
The Corporation has 7,000,000 shares of authorized Preferred Stock and has designated 115,000 shares of its Preferred Stock as 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. On February 4, 2013, the Corporation issued 100,000 shares of its 5.875% Non-Cumulative Perpetual Preferred Stock, Series A, which began paying cash dividends on May 4, 2013, quarterly in arrears on the 4th day of February, May, August and November. | ||||||||||||||||
Earnings Per Share | ||||||||||||||||
Basic net income per common share is calculated using the two-class method to determine income attributable to common shareholders. Net income attributable to Common Stock is then divided by the weighted-average number of Common Stock outstanding during the period. | ||||||||||||||||
Diluted net income per common share is calculated under the more dilutive of either the treasury method or two-class method. Adjustments to the weighted-average number of shares of Common Stock outstanding are made only when such adjustments will dilute earnings per common share. Net income attributable to Common Stock is then divided by the weighted-average number of Common Stock and Common Stock equivalents outstanding during the period. | ||||||||||||||||
The reconciliation between basic and diluted EPS using the two-class method and treasury stock method is presented as follows: | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Basic EPS: | ||||||||||||||||
Net income | $ | 59,519 | $ | 48,450 | $ | 112,974 | $ | 85,796 | ||||||||
Less: | ||||||||||||||||
Cash dividends on 5.875% non-cumulative perpetual series A, Preferred Stock | 1,469 | 1,469 | 2,938 | 2,399 | ||||||||||||
Income allocated to participating securities | 489 | 383 | 926 | 813 | ||||||||||||
Net income attributable to common shareholders | $ | 57,561 | $ | 46,598 | $ | 109,110 | $ | 82,584 | ||||||||
Weighted average Common Stock outstanding used in basic EPS | 165,335 | 157,863 | 165,198 | 133,909 | ||||||||||||
Basic net income per common share | $ | 0.35 | $ | 0.3 | $ | 0.66 | $ | 0.62 | ||||||||
Diluted EPS: | ||||||||||||||||
Income used in diluted earnings per share calculation | $ | 57,561 | $ | 46,598 | $ | 109,110 | $ | 82,584 | ||||||||
Weighted average Common Stock outstanding used in basic EPS | 165,335 | 157,863 | 165,198 | 133,909 | ||||||||||||
Add: Common Stock equivalents: | ||||||||||||||||
Warrant and stock plans | 812 | 527 | 854 | 497 | ||||||||||||
Weighted average Common and Common Stock equivalent shares outstanding | 166,147 | 158,390 | 166,052 | 134,406 | ||||||||||||
Diluted net income per share | $ | 0.35 | $ | 0.29 | $ | 0.66 | $ | 0.61 | ||||||||
Common Stock equivalents consist of employee stock award plans and the Common Stock warrant. These Common Stock equivalents do not enter into the calculation of diluted EPS if the impact would be anti-dilutive, that is, increase EPS or reduce a loss per share. Antidilutive potential Common Stock for the six months ended June 30, 2014 and 2013 totaled 1.0 million and 1.5 million, respectively. |
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||||||||||||
Segment Information | |||||||||||||||||||||||||||||||||||
Management monitors the Corporation’s results by an internal performance measurement system, which provides lines of business results and key performance measures. The profitability measurement system is based on internal financial management practices designed to produce consistent results and reflect the underlying economics of the businesses. The development and application of these methodologies is a dynamic process. Accordingly, these measurement tools and assumptions may be revised periodically to reflect methodological, product, and/or management organizational changes. Further, these tools measure financial results that support the strategic objectives and internal organizational structure of the Corporation. Consequently, the information presented is not necessarily comparable with similar information for other financial institutions. | |||||||||||||||||||||||||||||||||||
A description of each business, selected financial performance, and the methodologies used to measure financial performance are presented below. | |||||||||||||||||||||||||||||||||||
• | Commercial – The commercial line of business provides a full range of lending, depository, and related financial services to middle-market corporate, industrial, financial, core business banking, public entities, and leasing clients. Commercial also includes personal business from commercial loan clients in coordination with the Wealth Management segment. Products and services offered include commercial term loans, revolving credit arrangements, asset-based lending, leasing, commercial mortgages, real estate construction lending, letters of credit, treasury management, government banking, international banking, merchant card and other depository products and services. | ||||||||||||||||||||||||||||||||||
• | Retail – The retail line of business includes consumer lending and deposit gathering, residential mortgage loan origination and servicing, and branch-based small business banking (formerly known as the "micro business" line). Retail offers a variety of retail financial products and services including consumer direct and indirect installment loans, debit and credit cards, debit gift cards, residential mortgage loans, home equity loans and lines of credit, deposit products, fixed and variable annuities and ATM network services. Deposit products include checking, savings, money market accounts and certificates of deposit. | ||||||||||||||||||||||||||||||||||
• | Wealth – The wealth line of business offers a broad array of asset management, private banking, financial planning, estate settlement and administration, credit and deposit products and services. Trust and investment services include personal trust and planning, investment management, estate settlement and administration services. Retirement plan services focus on investment management and fiduciary activities. Brokerage and insurance delivers retail mutual funds, other securities, variable and fixed annuities, personal disability and life insurance products and brokerage services. Private banking provides credit, deposit and asset management solutions for affluent clients. | ||||||||||||||||||||||||||||||||||
• | Other – The other line of business includes activities that are not directly attributable to one of the three principal lines of business. Included in the Other category are the Parent Company, eliminations companies, community development operations, the treasury group, which includes the securities portfolio, wholesale funding and asset liability management activities, and the economic impact of certain assets, capital and support functions not specifically identifiable with the three primary lines of business. | ||||||||||||||||||||||||||||||||||
The accounting policies of the lines of businesses are the same as those of the Corporation described in Note 1 (Summary of Significant Accounting Policies) to the 2013 Form 10-K. Funds transfer pricing is used in the determination of net interest income by assigning a cost for funds used or credit for funds provided to assets and liabilities within each business unit. In the first quarter of 2014, Management changed the estimate regarding the funds transfer pricing crediting rate provided on non-maturity deposits, including amounts for prior periods. Assets and liabilities are match-funded based on their maturity, prepayment and/or repricing characteristics. As a result, the three primary lines of business are generally insulated from changes in interest rates. Changes in net interest income due to changes in rates are reported in Other by the treasury group. Capital has been allocated on an economic risk basis. Loans and lines of credit have been allocated capital based upon their respective credit risk. Asset management holdings in the Wealth segment have been allocated capital based upon their respective market risk related to assets under management. Normal business operating risk has been allocated to each line of business by the level of noninterest expense. Mismatch between asset and liability cash flow as well as interest rate risk for mortgage servicing rights and the origination business franchise value have been allocated capital based upon their respective asset/liability management risk. The provision for loan loss is allocated based upon the actual net charge-offs of each respective line of business, adjusted for loan growth and changes in risk profile. Noninterest income and expenses directly attributable to a line of business are assigned to that line of business. Expenses for centrally provided services are allocated to the business line by various activity based cost formulas. | |||||||||||||||||||||||||||||||||||
Substantially all of the Corporation’s business is conducted in the United States of America. The following tables present a summary of financial results as of and for the three and six months ended June 30, 2014 and June 30, 2013: | |||||||||||||||||||||||||||||||||||
FirstMerit | |||||||||||||||||||||||||||||||||||
Commercial | Retail | Wealth | Other | Consolidated | |||||||||||||||||||||||||||||||
June 30, 2014 | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | |||||||||||||||||||||||||
OPERATIONS: | |||||||||||||||||||||||||||||||||||
Net interest income (loss) | $ | 106,924 | $ | 211,987 | $ | 94,879 | $ | 188,129 | $ | 4,799 | $ | 9,477 | $ | (11,025 | ) | $ | (20,114 | ) | $ | 195,577 | $ | 389,479 | |||||||||||||
Provision (recapture) for loan losses | (4,874 | ) | 167 | 14,905 | 17,522 | 396 | 351 | 4,826 | 11,750 | 15,253 | 29,790 | ||||||||||||||||||||||||
Noninterest income | 26,681 | 47,987 | 25,345 | 52,381 | 14,052 | 27,516 | 6,482 | 11,947 | 72,560 | 139,831 | |||||||||||||||||||||||||
Noninterest expense | 61,230 | 123,215 | 87,603 | 183,377 | 12,370 | 25,097 | 6,197 | 5,044 | 167,400 | 336,733 | |||||||||||||||||||||||||
Net income (loss) | 50,211 | 88,784 | 11,515 | 25,747 | 3,955 | 7,504 | (6,162 | ) | (9,061 | ) | 59,519 | 112,974 | |||||||||||||||||||||||
AVERAGES: | |||||||||||||||||||||||||||||||||||
Assets | $ | 9,192,463 | $ | 9,132,758 | $ | 5,541,566 | $ | 5,495,965 | $ | 258,845 | $ | 250,279 | $ | 9,298,402 | $ | 9,337,457 | $ | 24,291,276 | $ | 24,216,459 | |||||||||||||||
FirstMerit | |||||||||||||||||||||||||||||||||||
Commercial | Retail | Wealth | Other | Consolidated | |||||||||||||||||||||||||||||||
June 30, 2013 | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | |||||||||||||||||||||||||
OPERATIONS: | |||||||||||||||||||||||||||||||||||
Net interest income (loss) | $ | 114,557 | $ | 182,947 | $ | 95,904 | $ | 145,658 | $ | 4,288 | $ | 8,441 | $ | (16,718 | ) | $ | (27,667 | ) | $ | 198,031 | $ | 309,379 | |||||||||||||
Provision (recapture) for loan losses | 2,120 | 6,886 | 2,101 | 6,174 | (42 | ) | 166 | 3,130 | 4,030 | 7,309 | 17,256 | ||||||||||||||||||||||||
Noninterest income | 20,895 | 40,127 | 33,330 | 57,718 | 12,821 | 21,131 | 2,393 | 7,856 | 69,439 | 126,832 | |||||||||||||||||||||||||
Noninterest expense | 51,891 | 94,918 | 85,512 | 138,419 | 13,832 | 24,006 | 37,653 | 37,691 | 188,888 | 295,034 | |||||||||||||||||||||||||
Net income (loss) | 52,680 | 78,569 | 26,919 | 38,074 | 2,027 | 3,379 | (33,176 | ) | (34,226 | ) | 48,450 | 85,796 | |||||||||||||||||||||||
AVERAGES: | |||||||||||||||||||||||||||||||||||
Assets | $ | 8,852,267 | $ | 7,800,594 | $ | 5,006,423 | $ | 4,016,956 | $ | 263,454 | $ | 250,206 | $ | 8,688,558 | $ | 6,846,825 | $ | 22,810,702 | $ | 18,914,581 | |||||||||||||||
Derivatives_Instruments_and_He
Derivatives Instruments and Hedging Activities Disclosure | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives and Hedging Activities | |||||||||||||||||||||||||||||||||||||||||||||||||
The Corporation, through its mortgage banking and risk management operations, is party to various derivative instruments that are used for asset and liability management and customers' financing needs. Derivative instruments are contracts between two or more parties that have a notional amount and underlying variable, require no net investment and allow for the net settlement of positions. The notional amount serves as the basis for the payment provision of the contract and takes the form of units, such as shares or dollars. The underlying variable represents a specified interest rate, index or other component. The interaction between the notional amount and the underlying variable determines the number of units to be exchanged between the parties and influences the market value of the derivative contract. | |||||||||||||||||||||||||||||||||||||||||||||||||
The predominant derivative and hedging activities include interest rate swaps and certain mortgage banking activities. Generally, these instruments help the Corporation manage exposure to market risk, and meet customer financing needs. Market risk represents the possibility that economic value or net interest income will be adversely affected by fluctuations in external factors, such as interest rates, market-driven rates and prices or other economic factors. Foreign exchange contracts are entered into to accommodate the needs of customers. | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives Designated in Hedge Relationships | |||||||||||||||||||||||||||||||||||||||||||||||||
The Corporation's fixed rate loans result in exposure to losses in value as interest rates change. The risk management objective for hedging fixed rate loans is to convert the fixed rate received to a floating rate. The Corporation hedges exposure to changes in the fair value of fixed rate loans through the use of swaps. For a qualifying fair value hedge, changes in the value of the derivatives that have been highly effective as hedges are recognized in current period earnings along with the corresponding changes in the fair value of the designated hedged item attributable to the risk being hedged. | |||||||||||||||||||||||||||||||||||||||||||||||||
At June 30, 2014, December 31, 2013, and June 30, 2013, the notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships were as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | June 30, 2013 | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | |||||||||||||||||||||||||||||||||||||
Interest rate swaps: | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair value hedges | $ | — | $ | — | $ | — | $ | — | $ | 4,632 | $ | — | $ | 102,828 | $ | 8,989 | $ | 126,637 | $ | 11,574 | $ | 136,186 | $ | 14,319 | |||||||||||||||||||||||||
(a) Included in "Other assets" on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) Included in "Other liabilities" on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedges. Prior to 2009, the Corporation entered into interest rate swaps with dealer counterparties to convert certain fixed rate loans to variable rate instruments over the terms of the loans (termed by the Corporation as the FRAP Program). These interest rate swaps are designated as fair value hedges and met the criteria to qualify for the short cut method of accounting. Based on this shortcut method of accounting treatment, no ineffectiveness is assumed. The Corporation discontinued originating interest rate swaps under the FRAP Program in February 2008. | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives Not Designated in Hedge Relationships | |||||||||||||||||||||||||||||||||||||||||||||||||
As of June 30, 2014, December 31, 2013, and June 30, 2013, the notional values or contractual amounts and fair value of the Corporation's derivatives not designated in hedge relationships were as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | June 30, 2013 | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | |||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 1,618,463 | $ | 47,952 | $ | 1,622,525 | $ | 46,577 | $ | 1,502,079 | $ | 47,804 | $ | 1,618,463 | $ | 47,952 | $ | 1,622,531 | $ | 46,577 | $ | 1,502,079 | $ | 47,804 | |||||||||||||||||||||||||
Mortgage loan commitments | 169,232 | 2,491 | 90,541 | 891 | 251,198 | 779 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Forward sales contracts | — | — | 40,906 | 384 | 139,093 | 4,458 | 80,161 | 545 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Credit contracts | 15,269 | — | — | — | — | — | 52,319 | 10 | 49,914 | — | 50,754 | — | |||||||||||||||||||||||||||||||||||||
Foreign exchange | 25,623 | 107 | 6,478 | 50 | 8,940 | 117 | 7,568 | 48 | 6,893 | 50 | 7,235 | 94 | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | 60,383 | — | 63,813 | — | 52,370 | — | |||||||||||||||||||||||||||||||||||||
Total | $ | 1,828,587 | $ | 50,550 | $ | 1,760,450 | $ | 47,902 | $ | 1,901,310 | $ | 53,158 | $ | 1,818,894 | $ | 48,555 | $ | 1,743,151 | $ | 46,627 | $ | 1,612,438 | $ | 47,898 | |||||||||||||||||||||||||
(a) Included in "Other assets" on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) Included in "Other liabilities" on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Swaps. The Corporation's Back-to-Back Program is an interest rate swap program for commercial loan customers that provides the customer with a fixed rate loan while creating a variable rate asset for the Corporation through the customer entering into an interest rate swap with the Corporation on terms that match the loan. The Corporation offsets its risk exposure by entering into an offsetting interest rate swap with a dealer counterparty. These swaps do not qualify as designated hedges; therefore, each swap is accounted for as a standalone derivative. | |||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage banking. In the normal course of business, the Corporation sells originated mortgage loans into the secondary mortgage loan markets. During the period of loan origination and prior to the sale of the loans in the secondary market, the Corporation has exposure to movements in interest rates associated with mortgage loans that are in the "mortgage pipeline" and the "mortgage warehouse". A pipeline loan is one in which the Corporation has entered into a written mortgage loan commitment with a potential borrower that will be held for resale. Once a mortgage loan is closed and funded, it is included within the mortgage warehouse of loans awaiting sale and delivery into the secondary market. | |||||||||||||||||||||||||||||||||||||||||||||||||
Written loan commitments that relate to the origination of mortgage loans that will be held for resale are considered free-standing derivatives and do not qualify for hedge accounting. Written loan commitments generally have a term of up to 60 days before the closing of the loan. The loan commitment does not bind the potential borrower to entering into the loan, nor does it guarantee that the Corporation will approve the potential borrower for the loan. Therefore, when determining fair value, the Corporation makes estimates of expected "fallout" (loan commitments not expected to close), using models which consider cumulative historical fallout rates and other factors. In addition, expected net future cash flows related to loan servicing activities are included in the fair value measurement of a written loan commitment. | |||||||||||||||||||||||||||||||||||||||||||||||||
Written loan commitments in which the borrower has locked in an interest rate results in market risk to the Corporation to the extent market interest rates change from the rate quoted to the borrower. The Corporation economically hedges the risk of changing interest rates associated with its interest rate lock commitments by entering into forward sales contracts. | |||||||||||||||||||||||||||||||||||||||||||||||||
The Corporation's warehouse (mortgage loans held for sale) is subject to changes in fair value, due to fluctuations in interest rates from the loan's closing date through the date of sale of the loan into the secondary market. Typically, the fair value of the warehouse declines in value when interest rates increase and rises in value when interest rates decrease. To mitigate this risk, the Corporation enters into forward sales contracts on a significant portion of the warehouse to provide an economic hedge against those changes in fair value. Mortgage loans held for sale and the forward sales contracts were recorded at fair value with ineffective changes in value recorded in current earnings as Loan sales and servicing income. | |||||||||||||||||||||||||||||||||||||||||||||||||
Credit contracts. The Corporation has bought and sold credit protection in the form of participations on interest rate swaps (swap participations). These swap participations, which meet the definition of credit derivatives, were entered into in the ordinary course of business. Credit derivatives, whereby the Corporation has purchased credit protection, entitles the Corporation to receive a payment from the counterparty when the customer fails to make payment on any amounts due to the Corporation. Swap participations whereby the Corporation has purchased credit protection have maturities that range between three to nine years. For swap participations where the Corporation sold credit protection, the Corporation has guaranteed payment in the event that the counterparty experiences a loss on the swap due to a failure to pay by the Corporation's commercial loan customer. The Corporation simultaneously entered into reimbursement agreements with the commercial loan customers obligating the customers to reimburse the Corporation for any payments it makes under the swap participations. The Corporation monitors its payment risk on its swap participations by monitoring the creditworthiness of its commercial loan customers, which is based on the normal credit review process the Corporation would have performed had it entered into these derivative instruments directly with the commercial loan customers. Credit derivatives whereby the Corporation has sold credit protection have maturities ranging from less than one year to eight years. The Corporation's maximum estimated exposure to sold swap participations, as measured by projecting a maximum value of the guaranteed derivative instruments based on interest rate curve simulations and assuming 100% default by all obligors on the maximum values, was approximately $3.2 million as of June 30, 2014. The fair values of the sold swap participations were not material at June 30, 2014, December 31, 2013, and June 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
Gains and losses recognized in income on non-designated hedging instruments for the three and six months ended June 30, 2014 and 2013 are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives not | Location of Gain/(Loss) | Amount of Gain / (Loss) Recognized in Income on Derivatives (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
designated as hedging | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||
instruments | in Income on | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||
Derivative | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Mortgage loan commitments | Other operating income | $ | 916 | $ | (3,374 | ) | $ | 1,600 | $ | (3,622 | ) | ||||||||||||||||||||||||||||||||||||||
Forward sales contracts | Other operating income | (713 | ) | 4,742 | (929 | ) | 4,519 | ||||||||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Other operating income | 328 | (122 | ) | 107 | (313 | ) | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 531 | $ | 1,246 | $ | 778 | $ | 584 | |||||||||||||||||||||||||||||||||||||||||
Counterparty Credit Risk | |||||||||||||||||||||||||||||||||||||||||||||||||
Like other financial instruments, derivatives contain an element of "credit risk" or the possibility that the Corporation will incur a loss because a counterparty, which may be a bank, a broker-dealer, a derivative clearing organization, or a customer, fails to meet its contractual obligations. This risk is measured as the expected positive replacement value of contracts. Derivative contracts may be executed with a counterparty or cleared through a FCM with a derivative clearing organization approved by the Corporation's ALCO, and only within the Corporation's Board of Directors Credit Committee approved credit exposure limits. Where contracts have been created for customers, the Corporation enters into derivatives with dealers to offset its risk exposure. To manage the credit exposure to exchanges and counterparties, the Corporation generally enters into bilateral collateral agreements using standard forms published by the ISDA. These agreements are to include thresholds of credit exposure or the maximum amount of unsecured credit exposure that the Corporation is willing to assume. Beyond the threshold levels, collateral in the form of securities made available from the investment portfolio or other forms of collateral acceptable under the bilateral collateral agreements are provided. The threshold levels for each counterparty are established by the Corporation's ALCO. Under the Dodd-Frank legislation, as of June 10, 2013, the Corporation must clear all interest rate swaps through a clearing house and the credit exposure is to the recognized derivative clearing organization. Margin requirements are established by the derivative clearing organization. When entering into cleared swap, the Corporation must post collateral to the FCM in the amount required by the clearing organization. The Corporation generally posts collateral in the form of highly rated Government Agency issued bonds or MBS. Collateral posted against derivative liabilities was $64.0 million, $70.5 million and $82.2 million as of June 30, 2014, December 31, 2013, and June 30, 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets and liabilities are recorded at fair value on the balance sheet and do not take into account the effects of master netting agreements the Corporation has with its financial institution counterparties. These master netting agreements allow the Corporation to settle all derivative contracts held with a single financial institution counterparty on a net basis, and to offset net derivative positions with related collateral, where applicable. Collateral, usually in the form of investment securities, is posted by the counterparty with net liability position in accordance with contract thresholds. The following tables illustrate the potential effect of the Corporation's derivative master netting arrangements, by type of financial instrument, on the Corporation's statement of financial position as of June 30, 2014, December 31, 2013, and June 30, 2013. The swap agreements the Corporation has in place with its commercial customers are not subject to enforceable master netting arrangements, and, therefore, are excluded from these tables. | |||||||||||||||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross amounts recognized | Gross amounts offset in the consolidated balance sheet | Net amounts presented in the consolidated balance sheet | Gross amounts not offset in the consolidated balance sheet | Net amount | |||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Financial instruments (a) | Collateral (b) | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | $ | 839 | $ | — | $ | 839 | $ | (839 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange | 19 | — | 19 | (19 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total derivative assets | $ | 858 | $ | — | $ | 858 | $ | (858 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - designated | $ | 8,989 | $ | — | $ | 8,989 | $ | — | $ | (8,989 | ) | $ | — | ||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | 47,114 | — | 47,114 | (839 | ) | (46,275 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Foreign exchange | 35 | — | 35 | (19 | ) | (16 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | $ | 56,138 | $ | — | $ | 56,138 | $ | (858 | ) | $ | (55,280 | ) | $ | — | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross amounts recognized | Gross amounts offset in the consolidated balance sheet | Net amounts presented in the consolidated balance sheet | Gross amounts not offset in the consolidated balance sheet | Net amount | |||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Financial instruments (a) | Collateral (b) | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | $ | 4,791 | $ | — | $ | 4,791 | $ | (4,791 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange | 4 | — | 4 | (4 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total derivative assets | $ | 4,795 | $ | — | $ | 4,795 | $ | (4,795 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - designated | $ | 11,574 | $ | — | $ | 11,574 | $ | — | $ | (11,574 | ) | $ | — | ||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | 41,787 | — | 41,787 | (4,791 | ) | (36,996 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Foreign exchange | 46 | — | 46 | (4 | ) | (42 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | $ | 53,407 | $ | — | $ | 53,407 | $ | (4,795 | ) | $ | (48,612 | ) | $ | — | |||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross amounts recognized | Gross amounts offset in the consolidated balance sheet | Net amounts presented in the consolidated balance sheet | Gross amounts not offset in the consolidated balance sheet | Net amount | |||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Financial instruments (a) | Collateral (b) | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | $ | 3,010 | $ | — | $ | 3,010 | $ | (3,010 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange | 53 | — | 53 | (22 | ) | (31 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Total derivative assets | $ | 3,063 | $ | — | $ | 3,063 | $ | (3,032 | ) | $ | (31 | ) | $ | — | |||||||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - designated | $ | 14,319 | $ | — | $ | 14,319 | $ | — | $ | (14,319 | ) | $ | — | ||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | 44,794 | — | 44,794 | (3,010 | ) | (41,784 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Foreign exchange | 22 | — | 22 | (22 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | $ | 59,135 | $ | — | $ | 59,135 | $ | (3,032 | ) | $ | (56,103 | ) | $ | — | |||||||||||||||||||||||||||||||||||
(a) For derivative assets, this includes any derivative liability fair values that could be offset in the event of counterparty default. For derivative liabilities, this includes any derivative asset fair values that could be offset in the event of counterparty default. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) For derivate assets, this includes the fair value of collateral received by the Corporation from the counterparty. Securities received as collateral are not included in the Consolidated Balance Sheets unless the counterparty defaults. For derivative liabilities, this includes the fair value of securities pledged by the Corporation to the counterparty. These securities are included in the Consolidated Balance Sheets unless the Corporation defaults. |
Benefit_Plans
Benefit Plans | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Pension and Other Postretirement Benefits Disclosure | ' | |||||||||||||||
Benefit Plans | ||||||||||||||||
The Corporation sponsors several qualified and nonqualified pension and other postretirement plans for certain of its employees. The net periodic pension cost is based on estimated values provided by an outside actuary. The components of net periodic benefit cost are as follows: | ||||||||||||||||
Pension Benefits | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Service cost | $ | 182 | $ | 585 | $ | 364 | $ | 1,170 | ||||||||
Interest cost | 3,584 | 2,632 | 7,168 | 5,264 | ||||||||||||
Expected return on assets | (4,009 | ) | (2,960 | ) | (8,017 | ) | (5,920 | ) | ||||||||
Amortization of unrecognized prior service costs | 698 | 117 | 1,331 | 234 | ||||||||||||
Amortization of Actuarial Gain | 804 | 1,174 | 1,513 | 2,348 | ||||||||||||
Net periodic pension cost | $ | 1,259 | $ | 1,548 | $ | 2,359 | $ | 3,096 | ||||||||
Postretirement Benefits | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Service cost | $ | 16 | $ | 25 | $ | 33 | $ | 50 | ||||||||
Interest cost | 164 | 130 | 327 | 260 | ||||||||||||
Amortization of unrecognized prior service costs | (117 | ) | (117 | ) | (234 | ) | (234 | ) | ||||||||
Amortization of Actuarial Gain | 59 | 67 | 118 | 134 | ||||||||||||
Net periodic postretirement cost | $ | 122 | $ | 105 | $ | 244 | $ | 210 | ||||||||
For further information on the Corporation's employee benefit plans, refer to Note 13 (Benefit Plans) to the consolidated financial statements in the 2013 Form 10-K. |
Fair_Value_Measurement
Fair Value Measurement | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value Measurement | ' | |||||||||||||||||||||||||||||||
Fair Value Measurement | ||||||||||||||||||||||||||||||||
As defined in ASC 820, Fair Value Measurements and Disclosures, fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between market participants in the principal market or most advantageous market for the asset or liability. Fair value is based on quoted market prices, when available, for identical or similar assets or liabilities. In the absence of quoted market prices, Management determines the fair value of the Corporation's assets and liabilities using valuation models or third-party pricing services. Both of these approaches rely on market-based parameters when available, such as interest rate yield curves, option volatilities and credit spreads, or unobservable inputs. Unobservable inputs may be based on Management's judgment, assumptions and estimates related to credit quality, liquidity, interest rates and other relevant inputs. | ||||||||||||||||||||||||||||||||
GAAP establishes a three-level valuation hierarchy for determining fair value that is based on the transparency of the inputs used in the valuation process. The inputs used in determining fair value in each of the three levels of the hierarchy, highest ranking to lowest, are as follow: | ||||||||||||||||||||||||||||||||
• | Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | |||||||||||||||||||||||||||||||
• | Level 2 — Significant other observable inputs other than Level 1 prices such quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||||||||||||||||
• | Level 3 — Significant unobservable inputs that reflect a company's own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||||||||||||||||
The level in the fair value hierarchy ascribed to a fair value measurement in its entirety is based on the lowest level input that is significant to the overall fair value measurement. | ||||||||||||||||||||||||||||||||
Valuation adjustments, such as those pertaining to counterparty and the Corporation's own credit quality and liquidity, may be necessary to ensure that assets and liabilities are recorded at fair value. Credit valuation adjustments are made when market pricing does not accurately reflect the counterparty's credit quality. As determined by Management, liquidity valuation adjustments may be made to the fair value of certain assets to reflect the uncertainty in the pricing and trading of the instruments when Management is unable to observe recent market transactions for identical or similar instruments. Liquidity valuation adjustments are based on the following factors: | ||||||||||||||||||||||||||||||||
• | the amount of time since the last relevant valuation; | |||||||||||||||||||||||||||||||
• | whether there is an actual trade or relevant external quote available at the measurement date; and | |||||||||||||||||||||||||||||||
• | volatility associated with the primary pricing components. | |||||||||||||||||||||||||||||||
Management ensures that fair value measurements are accurate and appropriate by relying upon various controls, including: | ||||||||||||||||||||||||||||||||
• | an independent review and approval of valuation models; | |||||||||||||||||||||||||||||||
• | recurring detailed reviews of profit and loss; and | |||||||||||||||||||||||||||||||
• | a validation of valuation model components against benchmark data and similar products, where possible. | |||||||||||||||||||||||||||||||
Management reviews any changes to its valuation methodologies to ensure they are appropriate and justified, and refines valuation methodologies as more market-based data becomes available. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. | ||||||||||||||||||||||||||||||||
Additional information regarding the Corporation's accounting policies for determining fair value is provided in Note 1 (Summary of Significant Accounting Policies) under the heading "Fair Value Measurements" to the 2013 Form 10-K. | ||||||||||||||||||||||||||||||||
The following tables present the balance of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of June 30, 2014, December 31, 2013, and June 30, 2013: | ||||||||||||||||||||||||||||||||
Fair Value by Hierarchy | ||||||||||||||||||||||||||||||||
(In thousands) | 30-Jun-14 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Recurring fair value measurement | ||||||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Marketable equity securities | $ | 2,935 | $ | 2,935 | $ | — | $ | — | ||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | 10 | 3,271 | ||||||||||||||||||||||||||||
U.S. States and political subdivisions | 240,805 | — | 240,805 | — | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,018,174 | — | 1,018,174 | — | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 85,698 | — | 85,698 | — | ||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,598,031 | — | 1,598,031 | — | ||||||||||||||||||||||||||||
Non-agency | 8 | — | 1 | 7 | ||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 182,033 | — | 182,033 | — | ||||||||||||||||||||||||||||
Corporate debt securities | 53,490 | — | — | 53,490 | ||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | 293,965 | — | — | 293,965 | ||||||||||||||||||||||||||||
Total available for sale securities | 3,478,420 | 2,935 | 3,124,752 | 350,733 | ||||||||||||||||||||||||||||
Residential loans held for sale | 21,632 | — | 21,632 | — | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,952 | — | 47,952 | — | ||||||||||||||||||||||||||||
Mortgage loan commitments | 2,491 | — | 2,491 | — | ||||||||||||||||||||||||||||
Forward sale contracts | — | — | — | — | ||||||||||||||||||||||||||||
Foreign exchange | 107 | — | 107 | — | ||||||||||||||||||||||||||||
Total derivative assets | 50,550 | — | 50,550 | — | ||||||||||||||||||||||||||||
Total fair value of assets (a) | $ | 3,550,602 | $ | 2,935 | $ | 3,196,934 | $ | 350,733 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest rate swaps - fair value hedges | $ | 8,989 | $ | — | $ | 8,989 | $ | — | ||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,952 | — | 47,952 | — | ||||||||||||||||||||||||||||
Forward sales contracts | 545 | — | 545 | — | ||||||||||||||||||||||||||||
Foreign exchange | 48 | — | 48 | — | ||||||||||||||||||||||||||||
Credit contracts | 10 | — | 10 | — | ||||||||||||||||||||||||||||
Total derivative liabilities | 57,544 | — | 57,544 | — | ||||||||||||||||||||||||||||
True-up liability | 12,581 | — | — | 12,581 | ||||||||||||||||||||||||||||
Total fair value of liabilities (a) | $ | 70,125 | $ | — | $ | 57,544 | $ | 12,581 | ||||||||||||||||||||||||
Nonrecurring fair value measurement | ||||||||||||||||||||||||||||||||
Mortgage servicing rights (b) | $ | 21,987 | $ | — | $ | — | $ | 21,987 | ||||||||||||||||||||||||
Impaired loans (c) | 56,006 | — | — | 56,006 | ||||||||||||||||||||||||||||
Other property (d) | 17,052 | — | — | 17,052 | ||||||||||||||||||||||||||||
Other real estate covered by loss share (e) | 22,782 | — | — | 22,782 | ||||||||||||||||||||||||||||
Total fair value | $ | 117,827 | $ | — | $ | — | $ | 117,827 | ||||||||||||||||||||||||
(a) - There were no transfers between levels 1 and 2 of the fair value hierarchy during the three months ended June 30, 2014. | ||||||||||||||||||||||||||||||||
(b) - MSRs with a recorded investment of $22.2 million were reduced by a specific valuation allowance totaling $0.6 million to a reported carrying value of $21.6 million resulting in recognition of $0.1 million in expense included in loans sales and servicing income in the three months ended June 30, 2014. | ||||||||||||||||||||||||||||||||
(c) - Collateral dependent impaired loans with a recorded investment of $62.2 million were reduced by specific valuation allowance allocations totaling $6.2 million to a reported net carrying value of $56.0 million. | ||||||||||||||||||||||||||||||||
(d) - Amounts do not include assets held at cost at June 30, 2014. During the three months ended June 30, 2014, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.7 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
(e) - Amounts do not include assets held at cost at June 30, 2014. During the three months ended June 30, 2014, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses $0.7 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
Fair Value by Hierarchy | ||||||||||||||||||||||||||||||||
(In thousands) | 31-Dec-13 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Recurring fair value measurement | ||||||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Marketable equity securities | $ | 3,036 | $ | 3,036 | $ | — | $ | — | ||||||||||||||||||||||||
Nonmarketable equity securities | 3,281 | — | 10 | 3,271 | ||||||||||||||||||||||||||||
U.S. States and political subdivisions | 262,367 | — | 262,367 | — | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 969,922 | — | 969,922 | — | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 69,567 | — | 69,567 | — | ||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,518,393 | — | 1,518,393 | — | ||||||||||||||||||||||||||||
Non-agency | 9 | — | — | 9 | ||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 102,268 | — | 102,268 | — | ||||||||||||||||||||||||||||
Corporate debt securities | 50,644 | — | — | 50,644 | ||||||||||||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | 293,687 | — | — | 293,687 | ||||||||||||||||||||||||||||
Total available-for-sale securities | 3,273,174 | 3,036 | 2,922,527 | 347,611 | ||||||||||||||||||||||||||||
Residential loans held for sale | 11,622 | — | 11,622 | — | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 46,577 | — | 46,577 | — | ||||||||||||||||||||||||||||
Mortgage loan commitments | 891 | — | 891 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 384 | — | 384 | — | ||||||||||||||||||||||||||||
Foreign exchange | 50 | — | 50 | — | ||||||||||||||||||||||||||||
Total derivative assets | 47,902 | — | 47,902 | — | ||||||||||||||||||||||||||||
Total fair value of assets (a) | $ | 3,332,698 | $ | 3,036 | $ | 2,982,051 | $ | 347,611 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest rate swaps - fair value hedges | $ | 11,574 | $ | — | $ | 11,574 | $ | — | ||||||||||||||||||||||||
Interest rate swaps - nondesignated | 46,577 | — | 46,577 | — | ||||||||||||||||||||||||||||
Foreign exchange | 50 | — | 50 | — | ||||||||||||||||||||||||||||
Total derivative liabilities | 58,201 | — | 58,201 | — | ||||||||||||||||||||||||||||
True-up liability | 11,463 | — | — | 11,463 | ||||||||||||||||||||||||||||
Total fair value of liabilities (a) | $ | 69,664 | $ | — | $ | 58,201 | $ | 11,463 | ||||||||||||||||||||||||
Nonrecurring fair value measurement | ||||||||||||||||||||||||||||||||
Mortgage servicing rights (b) | $ | 23,041 | $ | — | $ | — | $ | 23,041 | ||||||||||||||||||||||||
Impaired loans (c) | 47,870 | — | — | 47,870 | ||||||||||||||||||||||||||||
Other property (d) | 10,018 | — | — | 10,018 | ||||||||||||||||||||||||||||
Other real estate covered by loss share (e) | 8,754 | — | — | 8,754 | ||||||||||||||||||||||||||||
Total fair value | $ | 89,683 | $ | — | $ | — | $ | 89,683 | ||||||||||||||||||||||||
(a) - There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||
(b) - MSRs with a recorded investment of $22.8 million were reduced by a specific valuation allowance totaling $0.3 million to a reported carrying value of $22.5 million resulting in a recovery of previously recognized expense of $2.3 million in recoveries included in loans sales and servicing income in the year ended ended December 31, 2013. | ||||||||||||||||||||||||||||||||
(c) - Collateral dependent impaired loans with a recorded investment of $52.6 million were reduced by specific valuation allowance allocations totaling $4.8 million to a reported net carrying value of $47.9 million. | ||||||||||||||||||||||||||||||||
(d) Amounts do not include assets held at cost at December 31, 2013. During the year ended December 31, 2013, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $1.4 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
(e) Amounts do not include assets held at cost at December 31, 2013. During the year ended December 31, 2013, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $1.0 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
Fair Value by Hierarchy | ||||||||||||||||||||||||||||||||
(In thousands) | 30-Jun-13 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Recurring fair value measurement | ||||||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Marketable equity securities | $ | 3,213 | $ | 3,213 | $ | — | $ | — | ||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | 10 | 3,271 | |||||||||||||||||||||||||||||
U.S. States and political subdivisions | 277,934 | — | 277,934 | — | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,075,928 | — | 1,075,928 | — | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 56,497 | — | 56,497 | — | ||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,566,728 | — | 1,566,728 | — | ||||||||||||||||||||||||||||
Non-agency | 10 | — | 2 | 8 | ||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 106,568 | — | 106,568 | — | ||||||||||||||||||||||||||||
Corporate debt securities | 51,138 | — | — | 51,138 | ||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | 158,095 | — | — | 158,095 | ||||||||||||||||||||||||||||
Total available-for-sale securities | 3,299,392 | 3,213 | 3,083,667 | 212,512 | ||||||||||||||||||||||||||||
Residential loans held for sale | 22,855 | — | 22,855 | — | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,804 | — | 47,804 | — | ||||||||||||||||||||||||||||
Mortgage loan commitments | 779 | — | 779 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 4,458 | — | 4,458 | — | ||||||||||||||||||||||||||||
Foreign exchange | 117 | — | 117 | — | ||||||||||||||||||||||||||||
Total derivative assets | 53,158 | — | 53,158 | — | ||||||||||||||||||||||||||||
Total fair value of assets (a) | $ | 3,375,405 | $ | 3,213 | $ | 3,159,680 | $ | 212,512 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest rate swaps - fair value hedges | 14,319 | — | 14,319 | — | ||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,804 | — | 47,804 | — | ||||||||||||||||||||||||||||
Foreign exchange | 94 | — | 94 | — | ||||||||||||||||||||||||||||
Total derivative liabilities | 62,217 | — | 62,217 | — | ||||||||||||||||||||||||||||
True-up liability | 10,937 | — | — | 10,937 | ||||||||||||||||||||||||||||
Total fair value of liabilities (a) | $ | 73,154 | $ | — | $ | 62,217 | $ | 10,937 | ||||||||||||||||||||||||
Nonrecurring fair value measurement | ||||||||||||||||||||||||||||||||
Mortgage servicing rights (b) | $ | 22,529 | $ | — | $ | — | $ | 22,529 | ||||||||||||||||||||||||
Impaired loans (c) | 52,606 | — | — | 52,606 | ||||||||||||||||||||||||||||
Other property (d) | 16,825 | — | — | 16,825 | ||||||||||||||||||||||||||||
Other real estate covered by loss share (e) | 18,338 | — | — | 18,338 | ||||||||||||||||||||||||||||
Total fair value | $ | 110,298 | $ | — | $ | — | $ | 110,298 | ||||||||||||||||||||||||
(a) - There were no transfers between levels 1 and 2 of the fair value hierarchy during the three months ended June 30, 2013. | ||||||||||||||||||||||||||||||||
(b) - MSRs with a recorded investment of $22.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $22.1 million resulting in recovery of a previously recognized expense of $0.8 million in the three months ended June 30, 2013. | ||||||||||||||||||||||||||||||||
(c) - Collateral dependent impaired loans with a recorded investment of $58.1 million were reduced by specific valuation allowance allocations totaling $5.5 million to a reported net carrying value of $52.6 million. | ||||||||||||||||||||||||||||||||
(d) - Amounts do not include assets held at cost at June 30, 2013. During the three months ended June 30, 2013, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.3 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
(e) - Amounts do not include assets held at cost at June 30, 2013. During the three months ended June 30, 2013, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.6 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
The following section describes the valuation methodologies used by the Corporation to measure financial assets and liabilities at fair value. During the three months ended June 30, 2014 and 2013, there were no significant changes to the valuation techniques used by the Corporation to measure fair value. | ||||||||||||||||||||||||||||||||
Available-for-sale securities. When quoted prices are available in an active market, securities are valued using the quoted price and are classified as Level 1. The quoted prices are not adjusted. Level 1 instruments include money market mutual funds. | ||||||||||||||||||||||||||||||||
Securities are classified as Level 2 if quoted prices for identical securities are not available, and fair value is determined using pricing models by a third-party pricing service. Approximately 90% of the available-for-sale portfolio is Level 2. For the majority of available-for sale securities, the Corporation obtains fair value measurements from an independent third-party pricing service. These instruments include: municipal bonds; bonds backed by the U.S. government; corporate bonds; MBS; securities issued by the U.S. Treasury; and certain agency CMOs. The independent pricing service uses industry-standard models to price U.S. Government agencies and MBS that consider various assumptions, including time value, yield curves, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Obligations of state and political subdivisions are valued using a matrix, or grid, pricing in which securities are benchmarked against the treasury rate based on credit rating. For collateralized mortgage securities, depending on the characteristics of a given tranche, a volatility driven multidimensional static model or Option-Adjusted Spread model is generally used. Substantially all assumptions used by the independent pricing service for securities classified as Level 2 are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. | ||||||||||||||||||||||||||||||||
Securities are classified as Level 3 when there is limited activity in the market for a particular instrument and fair value is determined by obtaining broker quotes. As of June 30, 2014, less than 10% of the available-for-sale portfolio is Level 3, which consists of single issuer trust preferred securities and CLOs. | ||||||||||||||||||||||||||||||||
The single issuer trust preferred securities are measured at unadjusted prices obtained from the independent pricing service. The independent pricing service prices these instruments through a broker quote when sufficient information, such as cash flows or other security structure or market information, is not available to produce an evaluation. Broker-quoted securities are adjusted by the independent pricing service based solely on the receipt of updated quotes from market makers or broker-dealers recognized as market participants. A list of such issues is compiled by the independent pricing service daily. For broker-quoted issues, the independent pricing service applies a zero spread relationship to the bid-side valuation, resulting in the same values for the mean and ask. | ||||||||||||||||||||||||||||||||
CLO are securitized products where payments from multiple middle-sized and large business loans are pooled together and segregated into different classes of bonds with payments on these bonds based on their priority within the overall deal structure. The markets for such securities are generally characterized by low trading volumes and wide bid-ask spreads, all driven by more limited market participants. Although estimated prices are generally obtained for such securities, the level of market observable assumptions used is limited in the valuation. Specifically, market assumptions regarding credit adjusted cash flows and liquidity influences on discount rates were difficult to observe at the individual bond level. Accordingly, the securities are currently valued by a third-party that primarily utilizes dealer or pricing service prices and, subsequently, verifies this pricing through a disciplined process to ensure proper valuations and to highlight differences in cash flow modeling or other risks to determine if the market perception of the risk of a CLO is beginning to deviate from other similar tranches. This is done by establishing ranges for appropriate pricing yields for each CLO tranche and, using a standardized cash flow scenario, ensuring yields are consistent with expectations. | ||||||||||||||||||||||||||||||||
On a monthly basis, Management validates the pricing methodologies utilized by our independent pricing service to ensure the fair-value determination is consistent with the applicable accounting guidance and that the investments are properly classified in the fair value hierarchy. Management substantiates the fair values determined for a sample of securities held in portfolio by reviewing the key assumptions used by the independent pricing service to value the securities and comparing the fair values to prices from other independent sources for the same and similar securities. Management analyzes variances and conducts additional research with the independent pricing service, if necessary, and takes appropriate action based on its findings. | ||||||||||||||||||||||||||||||||
Loans held for sale. These loans are regularly traded in active markets through programs offered by FHLMC and FNMA, and observable pricing information is available from market participants. The prices are adjusted as necessary to include any embedded servicing value in the loans and to take into consideration the specific characteristics of certain loans. These adjustments represent unobservable inputs to the valuation but are not considered significant to the fair value of the loans. Accordingly, residential real estate loans held for sale are classified as Level 2. | ||||||||||||||||||||||||||||||||
Impaired loans. Certain impaired collateral dependent loans are reported at fair value less costs to sell the collateral. Collateral values are estimated using Level 3 inputs, consisting of third-party appraisals or price opinions and internal adjustments necessary in the judgment of Management to reflect current market conditions and current operating results for the specific collateral. Collateral may be in the form of real estate or personal property including equipment and inventory. The vast majority of the collateral is real estate. When impaired collateral dependent loans are individually re-measured and reported at fair value of the collateral, less costs to sell, a direct loan charge off to the ALL and/or a specific valuation allowance allocation is recorded. | ||||||||||||||||||||||||||||||||
Other Property. Certain other property which consists of foreclosed assets and properties securing residential and commercial loans, upon initial recognition and transfer from loans, are re-measured and reported at fair value less costs to sell to the property through a charge-off to the ALL based on the fair value of the foreclosed assets. The fair value of a foreclosed asset, upon initial recognition, is estimated using Level 3 inputs, consisting of third-party appraisals or price opinions and internal adjustments necessary in the judgment of Management to reflect current market conditions and current operating results for the specific collateral. Subsequent to foreclosure, valuations are updated periodically, and the assets may be written down further through a charge to noninterest expense. | ||||||||||||||||||||||||||||||||
Mortgage Servicing Rights. The Corporation carries its MSRs at lower of cost or fair value, and, therefore, they subject to fair value measurements on a nonrecurring basis. Since sales of MSRs tend to occur in private transactions and the precise terms and conditions of the sales are typically not readily available, there is a limited market to refer to in determining the fair value of MSRs. As such, like other participants in the mortgage banking business, the Corporation relies primarily on a discounted cash flow model, incorporating assumptions about loan prepayment rates, discount rates, servicing costs and other economic factors, to estimate the fair value of its mortgage servicing rights. Since the valuation model uses significant unobservable inputs, the Corporation classifies MSRs within Level 3. | ||||||||||||||||||||||||||||||||
The Corporation utilizes a third-party vendor to perform the modeling to estimate the fair value of its MSRs. The Corporation reviews the estimated fair values and assumptions used by the third-party in the model on a quarterly basis. The Corporation also compares the estimates of fair value and assumptions to recent market activity and against its own experience. See Note 12 (Mortgage Servicing Rights and Mortgage Servicing Activity) for further information on MSRs valuation assumptions. | ||||||||||||||||||||||||||||||||
Derivatives. The Corporation's derivatives include interest rate swaps and written loan commitments and forward sales contracts related to residential mortgage loan origination activity. Valuations for interest rate swaps are derived from third-party models whose significant inputs are readily observable market parameters, primarily yield curves, with appropriate adjustments for liquidity and credit risk. These fair value measurements are classified as Level 2. The fair values of written loan commitments and forward sales contracts on the associated loans are based on quoted prices for similar loans in the secondary market, consistent with the valuation of residential mortgage loans held for sale. Expected net future cash flows related to loan servicing activities are included in the fair value measurement of written loan commitments. A written loan commitment does not bind the potential borrower to entering into the loan, nor does it guarantee that the Corporation will approve the potential borrower for the loan. Therefore, when determining fair value, the Corporation makes estimates of expected "fallout" (interest rate locked pipeline loans not expected to close), using models, which consider cumulative historical fallout rates and other factors. Fallout can occur for a variety of reasons including falling rate environments when a borrower will abandon a fixed rate loan commitment at one lender and enter into a new lower fixed rate loan commitment at another, when a borrower is not approved as an acceptable credit by the lender or for a variety of other non-economic reasons. Fallout is not a significant input to the fair value of the written loan commitments in their entirety. These measurements are classified as Level 2. | ||||||||||||||||||||||||||||||||
Derivative assets are typically secured through securities with financial counterparties or cross collateralization with a borrowing customer. Derivative liabilities are typically secured through the Corporation pledging securities to financial counterparties or, in the case of a borrowing customer, by the right of setoff. The Corporation considers factors such as the likelihood of default by itself and its counterparties, right of setoff, and remaining maturities in determining the appropriate fair value adjustments. All derivative counterparties approved by the Corporation's Asset and Liability Committee are regularly reviewed, and appropriate business action is taken to adjust the exposure to certain counterparties, as necessary. Counterparty exposure is evaluated by netting positions that are subject to master netting agreements, as well as considering the amount of marketable collateral securing the position. This approach used to estimate impacted exposures to counterparties is also used by the Corporation to estimate its own credit risk on derivative liability positions. To date, no material losses have been incurred due to a counterparty's inability to pay any uncollateralized position. There was no significant change in value of derivative assets and liabilities attributed to credit risk for the three months ended June 30, 2014. | ||||||||||||||||||||||||||||||||
True-up liability. In connection with the George Washington and Midwest acquisitions in 2010, the Bank has agreed to pay the FDIC should the estimated losses on the acquired loan portfolios as well as servicing fees earned on the acquired loan portfolios not meet thresholds as stated in the loss sharing agreements (the "true-up liability"). This contingent consideration is classified as a liability within accrued taxes, expenses and other liabilities on the consolidated balance sheets and is remeasured at fair value each reporting date until the contingency is resolved. The changes in fair value are recognized in earnings in the current period. | ||||||||||||||||||||||||||||||||
An expected value methodology is used as a starting point for determining the fair value of the true-up liability based on the contractual terms prescribed in the loss sharing agreements. The resulting values under both calculations are discounted over 10 years (the period defined in the loss sharing agreements) to reflect the uncertainty in the timing and payment of the true-up liability by the Bank to arrive at a net present value. The discount rate used to value the true-up liability was 3.12% and 3.59% as of June 30, 2014 and 2013, respectively. Increasing or decreasing the discount rate by one percentage point would change the liability by approximately $0.7 million and $0.8 million, respectively, as of June 30, 2014. | ||||||||||||||||||||||||||||||||
In accordance with the loss sharing agreements governing the Midwest acquisition, on July 15, 2020 (the “Midwest True-Up Measurement Date”), the Bank has agreed to pay to the FDIC half of the amount, if positive, calculated as: (1) 20% of the intrinsic loss estimate of the FDIC (approximately $152 million); minus (2) the sum of (A) 25% of the asset premium paid in connection with the Midwest acquisition (approximately $21 million); plus (B) 25% of the cumulative shared-loss payments (as defined below) plus (C) the cumulative servicing amount (as defined below). The fair value of the true-up liability associated with the Midwest acquisition was $7.9 million, $7.1 million, and $6.8 million as of June 30, 2014, December 31, 2013, and June 30, 2013, respectively. | ||||||||||||||||||||||||||||||||
In accordance with the loss sharing agreements governing the George Washington acquisition, on April 14, 2020 (the “George Washington True-Up Measurement Date”), the Bank has agreed to pay to the FDIC 50% of the excess, if any, of (1) 20% of the stated threshold (approximately $34.4 million) less (2) the sum of (A) 25% of the asset discount (approximately $12 million) received in connection with the George Washington acquisition plus (B) 25% of the cumulative shared-loss payments (as defined below) plus (C) the cumulative servicing amount (as defined below). The fair value of the true-up liability associated with the George Washington acquisition was $4.7 million, $4.3 million, and $4.1 million as of June 30, 2014, December 31, 2013, and June 30, 2013, respectively. | ||||||||||||||||||||||||||||||||
For the purposes of the above calculations, cumulative shared-loss payments means: (i) the aggregate of all of the payments made or payable to the Bank under the loss sharing agreements minus (ii) the aggregate of all of the payments made or payable to the FDIC. The cumulative servicing amount means the period servicing amounts (as defined in the loss sharing agreements) for every consecutive twelve-month period prior to and ending on the Midwest and George Washington True-Up Measurement Dates. The cumulative loss share payments and cumulative service amounts components of the true-up calculations are estimated each period end based on the expected amount and timing of cash flows of the acquired loan portfolios. See Note 4 (Loans) and Note 5 (Allowance for Loan Losses) for additional information on the estimated cash flows of the acquired loan portfolios. | ||||||||||||||||||||||||||||||||
The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2014 and 2013 are summarized as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
(In thousands) | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | ||||||||||||||||||||||||
Balance at beginning of period | $ | 349,425 | $ | 11,983 | $ | 51,234 | $ | 12,783 | $ | 347,610 | $ | 11,463 | $ | 49,661 | $ | 12,259 | ||||||||||||||||
Fair value of assets acquired | — | — | 3,271 | — | — | — | 3,271 | — | ||||||||||||||||||||||||
(Gains) losses included in earnings (a) | — | 598 | — | (1,846 | ) | — | 1,118 | — | (1,322 | ) | ||||||||||||||||||||||
Unrealized gains (losses) (b) | 1,253 | — | (1,923 | ) | — | 3,021 | — | (363 | ) | — | ||||||||||||||||||||||
Purchases | — | — | 159,916 | — | — | — | 159,916 | — | ||||||||||||||||||||||||
Settlements | 55 | — | 14 | — | 102 | — | 27 | — | ||||||||||||||||||||||||
Balance at ending of period | $ | 350,733 | $ | 12,581 | $ | 212,512 | $ | 10,937 | $ | 350,733 | $ | 12,581 | $ | 212,512 | $ | 10,937 | ||||||||||||||||
(a) Reported in "Other expense" | ||||||||||||||||||||||||||||||||
(b) Reported in "Other comprehensive income (loss)" | ||||||||||||||||||||||||||||||||
Fair Value Option | ||||||||||||||||||||||||||||||||
Residential mortgage loans held for sale are recorded at fair value under fair value option accounting guidance. The election of the fair value option aligns the accounting for these loans with the related hedges. It also eliminates the requirements of the hedge accounting under GAAP. | ||||||||||||||||||||||||||||||||
Interest income on loans held for sale is accrued on the principal outstanding primarily using the “simple-interest” method. None of these loans were 90 days or more past due, nor were any on nonaccrual as of June 30, 2014, December 31, 2013, and June 30, 2013. The aggregate fair value, contractual balance and gain or loss on loans held for sale was as follows: | ||||||||||||||||||||||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | |||||||||||||||||||||||||||||
Aggregate fair value carrying amount | $ | 21,632 | $ | 11,622 | $ | 22,855 | ||||||||||||||||||||||||||
Aggregate unpaid principal / contractual balance | 20,886 | 11,438 | 23,220 | |||||||||||||||||||||||||||||
Carrying amount over aggregate unpaid principal (a) | $ | 746 | $ | 184 | $ | (365 | ) | |||||||||||||||||||||||||
(a) These changes are included in "Loan sales and servicing income" in the Consolidated Statements of Income. | ||||||||||||||||||||||||||||||||
Disclosures about Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
The carrying amount and estimated fair value of the Corporation’s financial instruments that are carried at either fair value or cost as of June 30, 2014, December 31, 2013, and June 30, 2013 are shown in the tables below. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 642,570 | $ | 642,570 | $ | 642,570 | $ | — | $ | — | ||||||||||||||||||||||
Available-for-sale securities | 3,478,420 | 3,478,420 | 2,935 | 3,124,752 | 350,733 | |||||||||||||||||||||||||||
Held-to-maturity securities | 3,052,118 | 3,001,866 | — | 3,001,866 | — | |||||||||||||||||||||||||||
Other securities | 148,433 | 148,433 | — | 148,433 | — | |||||||||||||||||||||||||||
Loans held for sale | 21,632 | 21,632 | — | 21,632 | — | |||||||||||||||||||||||||||
Net originated loans | 11,375,243 | 11,458,318 | — | — | 11,458,318 | |||||||||||||||||||||||||||
Net acquired loans | 3,018,810 | 3,166,228 | — | — | 3,166,228 | |||||||||||||||||||||||||||
Net covered loans and loss share receivable | 433,538 | 433,538 | — | — | 433,538 | |||||||||||||||||||||||||||
Accrued interest receivable | 63,172 | 63,172 | — | 63,172 | — | |||||||||||||||||||||||||||
Derivatives | 50,550 | 50,550 | — | 50,550 | — | |||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Deposits | $ | 19,298,396 | $ | 19,300,842 | $ | — | $ | 19,300,842 | $ | — | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 1,218,855 | 1,218,855 | — | 1,218,855 | — | |||||||||||||||||||||||||||
Wholesale borrowings | 649,021 | 652,615 | — | 652,615 | — | |||||||||||||||||||||||||||
Long-term debt | 324,433 | 335,757 | — | 335,757 | — | |||||||||||||||||||||||||||
Accrued interest payable | 8,311 | 8,311 | — | 8,311 | — | |||||||||||||||||||||||||||
Derivatives | 57,544 | 57,544 | — | 57,544 | — | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 917,822 | $ | 917,822 | $ | 917,822 | $ | — | $ | — | ||||||||||||||||||||||
Available-for-sale securities | 3,273,174 | 3,273,174 | 3,036 | 2,922,527 | 347,611 | |||||||||||||||||||||||||||
Held-to-maturity securities | 2,935,688 | 2,824,240 | — | 2,824,240 | — | |||||||||||||||||||||||||||
Other securities | 180,803 | 180,803 | — | 180,803 | — | |||||||||||||||||||||||||||
Loans held for sale | 11,622 | 11,622 | — | 11,622 | — | |||||||||||||||||||||||||||
Net originated loans | 10,116,903 | 10,017,722 | — | — | 10,017,722 | |||||||||||||||||||||||||||
Net acquired loans | 3,494,874 | 3,627,275 | 3,627,275 | |||||||||||||||||||||||||||||
Net covered loans and loss share receivable | 547,943 | 547,943 | — | — | 547,943 | |||||||||||||||||||||||||||
Accrued interest receivable | 52,929 | 52,929 | — | 52,929 | — | |||||||||||||||||||||||||||
Derivatives | 47,902 | 47,902 | — | 47,902 | — | |||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Deposits | $ | 19,533,601 | $ | 19,532,368 | $ | — | $ | 19,532,368 | $ | — | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 851,535 | 851,535 | — | 851,535 | — | |||||||||||||||||||||||||||
Wholesale borrowings | 200,600 | 204,124 | — | 204,124 | — | |||||||||||||||||||||||||||
Long-term debt | 324,428 | 319,711 | — | 319,711 | — | |||||||||||||||||||||||||||
Accrued interest payable | 9,339 | 9,339 | — | 9,339 | — | |||||||||||||||||||||||||||
Derivatives | 58,201 | 58,201 | — | 58,201 | — | |||||||||||||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 909,490 | $ | 909,490 | $ | 909,490 | $ | — | $ | — | ||||||||||||||||||||||
Available for sale securities | 3,299,392 | 3,299,392 | 3,213 | 3,083,667 | 212,512 | |||||||||||||||||||||||||||
Held to maturity securities | 2,551,860 | 2,487,071 | — | 2,487,071 | — | |||||||||||||||||||||||||||
Other securities | 267,565 | 267,565 | — | 267,565 | — | |||||||||||||||||||||||||||
Loans held for sale | 22,855 | 22,855 | — | 22,855 | — | |||||||||||||||||||||||||||
Net originated loans | 9,033,980 | 8,984,845 | — | — | 8,984,845 | |||||||||||||||||||||||||||
Net acquired loans | 4,250,362 | 4,250,362 | 4,250,362 | |||||||||||||||||||||||||||||
Net covered loans and loss share receivable | 711,367 | 711,367 | — | — | 711,367 | |||||||||||||||||||||||||||
Accrued interest receivable | 48,635 | 48,635 | — | 48,635 | — | |||||||||||||||||||||||||||
Derivatives | 53,158 | 53,158 | — | 53,158 | — | |||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Deposits | $ | 19,119,722 | $ | 19,125,843 | $ | — | $ | 19,125,843 | $ | — | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 844,871 | 844,871 | — | 844,871 | — | |||||||||||||||||||||||||||
Wholesale borrowings | 201,337 | 205,210 | — | 205,210 | — | |||||||||||||||||||||||||||
Long-term debt | 324,422 | 322,322 | — | 322,322 | — | |||||||||||||||||||||||||||
Accrued interest payable | 9,066 | 9,066 | — | 9,066 | — | |||||||||||||||||||||||||||
Derivatives | 62,217 | 62,217 | — | 62,217 | — | |||||||||||||||||||||||||||
The following methods and assumptions were used to estimate the fair values of each class of financial instrument presented: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents – For these short-term instruments, the carrying amount is considered a reasonable estimate of fair value. | ||||||||||||||||||||||||||||||||
Investment securities – See Financial Instruments Measured at Fair Value above. | ||||||||||||||||||||||||||||||||
Loans held for sale – The majority of loans held for sale are residential mortgage loans which are recorded at fair value. All other loans held for sale are recorded at the lower of cost or market, less costs to sell. See Financial Instruments Measured at Fair Value above. | ||||||||||||||||||||||||||||||||
Net originated loans – The originated loan portfolio was segmented based on loan type and repricing characteristics. Carrying values are used to estimate fair values of variable rate loans. A discounted cash flow method was used to estimate the fair value of fixed-rate loans. Discounting was based on the contractual cash flows, and discount rates are based on the year-end yield curve plus a spread that reflects current pricing on loans with similar characteristics. If applicable, prepayment assumptions are factored into the fair value determination based on historical experience and current economic conditions. | ||||||||||||||||||||||||||||||||
Net acquired and covered loans – Fair values for acquired and covered loans were estimated based on a discounted projected cash flow methodology that considered factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan and whether or not the loan was amortizing, and current discount rates. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns. The discount rate does not include a factor for credit losses as that has been included in the estimated cash flows. | ||||||||||||||||||||||||||||||||
Loss share receivable – This loss sharing asset is measured separately from the related covered assets as it is not contractually embedded in the covered assets and is not transferable with the covered assets should the Bank choose to dispose of them. Fair value was estimated using discounted projected cash flows related to the FDIC loss share agreements based on the expected reimbursements for losses and the applicable loss sharing percentages. These cash flows were discounted to reflect the uncertainty of the timing and receipt from the FDIC. | ||||||||||||||||||||||||||||||||
Accrued interest receivable – The carrying amount is considered a reasonable estimate of fair value. | ||||||||||||||||||||||||||||||||
Mortgage servicing rights – See Financial Instruments Measured at Fair Value above. | ||||||||||||||||||||||||||||||||
Deposits – The estimated fair value of deposits with no stated maturity, which includes demand deposits, money market accounts and other savings accounts, are established at carrying value because of the customers' ability to withdraw funds immediately. A discounted cash flow method is used to estimate the fair value of fixed rate time deposits. Discounting was based on the contractual cash flows and the current rates at which similar deposits with similar remaining maturities would be issued. | ||||||||||||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase, wholesale borrowings and long-term debt – The carrying amount of variable rate borrowings including federal funds purchased is considered to be their fair value. Quoted market prices or the discounted cash flow method was used to estimate the fair value of the Corporation's long-term debt. Discounting was based on the contractual cash flows and the current rate at which debt with similar terms could be issued. | ||||||||||||||||||||||||||||||||
Accrued interest payable – The carrying amount is considered a reasonable estimate of fair value. | ||||||||||||||||||||||||||||||||
Derivative assets and liabilities – See Financial Instruments Measured at Fair Value above. | ||||||||||||||||||||||||||||||||
True-up liability – See Financial Instruments Measured at Fair Value above. |
Mortgage_Servicing_Rights_and_
Mortgage Servicing Rights and Mortgage Servicing Activity | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Transfers and Servicing [Abstract] | ' | |||||||||||||||
Mortgage Servicing Rights and Mortgage Servicing Activity | ' | |||||||||||||||
Mortgage Servicing Rights and Mortgage Servicing Activity | ||||||||||||||||
In the three and six months ended June 30, 2014 and 2013, the Corporation sold residential mortgage loans from the held for sale portfolio with unpaid principal balances of $143.6 million and $310.1 million, respectively, and recognized pretax gains of $3.5 million and $6.7 million, respectively, which are included as a component of loan sales and servicing income. As of June 30, 2014 and 2013, the Corporation retained the related MSRs on $125.2 million and $285.3 million, respectively, of the loans sold and receives servicing fees. | ||||||||||||||||
The Corporation serviced for third parties approximately $2.7 billion of residential mortgage loans at June 30, 2014 and June 30, 2013. For the six months ended June 30, 2014 and 2013, loan servicing fees, not including valuation changes included in loan sales and servicing income, were $3.3 million and $3.1 million, respectively. | ||||||||||||||||
Servicing rights are presented within other assets on the accompanying Consolidated Balance Sheets. The retained servicing rights are initially valued at fair value. Since MSRs do not trade in an active market with readily observable prices, the Corporation relies primarily on a discounted cash flow analysis model to estimate the fair value of its MSRs. Additional information can be found in Note 11 (Fair Value Measurement). MSRs are subsequently measured using the amortization method. Accordingly, the MSRs are amortized over the period of, and in proportion to, the estimated net servicing income and is recorded in loan sales and servicing income. | ||||||||||||||||
Changes in the carrying amount of MSRs and MSRs valuation allowance are as follows: | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Balance at beginning of period | $ | 22,469 | $ | 21,378 | $ | 22,760 | $ | 21,316 | ||||||||
Addition of Citizens' MSRs on Acquisition Date | — | 1,065 | — | 1,065 | ||||||||||||
Additions | 643 | 1,434 | 1,207 | 2,701 | ||||||||||||
Amortization | (963 | ) | (1,273 | ) | (1,817 | ) | (2,478 | ) | ||||||||
Balance at end of period | 22,150 | 22,604 | 22,150 | 22,604 | ||||||||||||
Valuation allowance at beginning of period | (425 | ) | (1,234 | ) | (282 | ) | (2,564 | ) | ||||||||
Recoveries (Additions) | (137 | ) | 752 | (280 | ) | 2,082 | ||||||||||
Valuation allowance at end of period | (562 | ) | (482 | ) | (562 | ) | (482 | ) | ||||||||
MSRs, net carrying balance | $ | 21,588 | $ | 22,122 | $ | 21,588 | $ | 22,122 | ||||||||
Fair value at end of period | $ | 21,987 | $ | 22,529 | $ | 21,987 | $ | 22,529 | ||||||||
On a quarterly basis, the Corporation assesses its capitalized servicing rights for impairment based on their current fair value. For purposes of the impairment, the servicing rights are disaggregated based on loan type and interest rate which are the predominant risk characteristics of the underlying loans. A valuation allowance is established through a charge to earnings to the extent the amortized cost of the MSRs exceeds the estimated fair value by stratification. If it is later determined that all or a portion of the temporary impairment no longer exists for the stratification, the valuation is reduced through a recovery to earnings. No permanent impairment losses were written off against the allowance during the six months ended June 30, 2014 and 2013. | ||||||||||||||||
Key economic assumptions and the sensitivity of the current fair value of the MSRs related to immediate 10% and 25% adverse changes in those assumptions at June 30, 2014 are presented in the following table below. These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in the fair value based on 10% variation in the prepayment speed assumption generally cannot be extrapolated because the relationship of the change in the prepayment speed assumption to the change in fair value may not be linear. Also, in the below table, the effect of a variation in the discount rate assumption on the fair value of the MSRs is calculated independently without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, changes in prepayment speed estimates could result in changes in the discount rates), which might magnify or counteract the sensitivities. | ||||||||||||||||
Prepayment speed assumption (annual CPR) | 10.64 | % | ||||||||||||||
Decrease in fair value from 10% adverse change | $ | 743 | ||||||||||||||
Decrease in fair value from 25% adverse change | $ | 1,783 | ||||||||||||||
Discount rate assumption | 9.9 | % | ||||||||||||||
Decrease in fair value from 100 basis point adverse change | $ | 682 | ||||||||||||||
Decrease in fair value from 200 basis point adverse change | $ | 1,320 | ||||||||||||||
Expected weighted-average life (in months) | 99.3 | |||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Contingencies and Guarantees | ' | ||||||||||||
Contingencies and Guarantees | |||||||||||||
Litigation | |||||||||||||
In the normal course of business, the Corporation and its subsidiaries are at all times subject to pending and threatened legal actions, some for which the relief or damages sought are substantial. Although the Corporation is not able to predict the outcome of such actions, after reviewing pending and threatened actions with counsel, Management believes that based on the information currently available the outcome of such actions, individually or in the aggregate, will not have a material adverse effect on the results of operations or shareholders' equity of the Corporation. However, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the results of operations in a particular future period as the time and amount of any resolution of such actions and its relationship to the future results of operations are not known. | |||||||||||||
Reserves are established for legal claims only when losses associated with the claims are judged to be probable, and the loss can be reasonably estimated. In many lawsuits and arbitrations, including almost all of the class action lawsuits, it is not possible to determine whether a liability will be incurred or to estimate the ultimate or minimum amount of that liability until the case is close to resolution, in which case a reserve will not be recognized until that time. | |||||||||||||
Overdraft Litigation | |||||||||||||
Commencing in December 2010, two separate lawsuits were filed in the Summit County Court of Common Pleas and the Lake County Court of Common Pleas against the Corporation and the Bank. The complaints were brought as putative class actions on behalf of Ohio residents who maintained a checking account at the Bank and who incurred one or more overdraft fees as a result of the alleged re-sequencing of debit transactions. The lawsuit that had been filed in Summit County Court of Common Pleas was dismissed without prejudice on July 11, 2011. The remaining suit in Lake County seeks actual damages, disgorgement of overdraft fees, punitive damages, interest, injunctive relief and attorney fees. In December 2012, the trial court issued an order certifying a proposed class and the Bank and Corporation appealed the order to the Eleventh District Court of Appeals. In September 2013, the Eleventh District Court of Appeals affirmed in part and reversed in part the trial court's class certification order, and remanded the case back to the trial court for further consideration, in particular with respect to the class definition. On October 9, 2013, the Bank and Corporation filed with the Eleventh District Court of Appeals an application for reconsideration and application for consideration en banc. On November 20, 2013, the Eleventh District denied those applications. On December 4, 2013, the Bank and Corporation filed a notice of appeal with the Ohio Supreme Court, and on January 3, 2014, they filed with the Ohio Supreme Court a memorandum in support of the Court's exercising its jurisdiction and accepting the appeal. The plaintiffs filed an opposition, and, on April 24, 2014, the Ohio Supreme Court declined to accept jurisdiction. On July 16, 2014, the trial court held a status conference, at which time it ordered briefing on the issue of the class definition and addressed certain other matters. | |||||||||||||
Merger Litigation | |||||||||||||
Between September 17, 2012 and October 5, 2012, alleged shareholders of Citizens filed six purported class action lawsuits in the Circuit Court of Genesee County, Michigan, relating to the proposed merger between Citizens and FirstMerit, which merger closed in April 2013. The lawsuits were consolidated under the caption In re Citizens Republic Bancorp, Inc. Shareholder Litigation, Case No. 12-99027-CK (the "Lawsuit"). The consolidated complaint in the Lawsuit alleges that the former directors of Citizens breached their fiduciary duties by failing to obtain the best available price in the merger and by not providing Citizens shareholders with all material information related to the merger, and that FirstMerit and Citizens aided and abetted those alleged breaches of fiduciary duty. The Complaint sought declaratory and injunctive relief to prevent the consummation of the merger, rescissory damages and other equitable relief. | |||||||||||||
The plaintiffs and defendants have entered into a settlement of the Lawsuit, and the court approved the settlement on September 20, 2013. Under the settlement, the defendants amended the joint proxy statement/prospectus relating to the merger to include certain supplemental disclosures to shareholders of Citizens and agreed to pay attorneys' fees and expenses as awarded by the court. An alleged former shareholder of Citizens objected to the settlement and has filed an appeal of the court's approval of the settlement; the settlement will not become final until that appeal has been resolved. | |||||||||||||
CRBC 401(k) Litigation | |||||||||||||
Participants in the Citizens Republic Bancorp 401(k) Plan filed a lawsuit in the United States Court for the Eastern District of Michigan in 2011, alleging that Citizens and certain of its officers and directors violated the Employee Retirement Income Security Act by offering Citizens common stock as an investment alternative in the Plan during periods when it was imprudent to do so and by failing to adequately monitor fiduciaries responsible for administering the Plan. The lawsuit, captioned Kidd v. Citizens Republic Bancorp, Inc. et al., Case No. 2:11-cv-11709, asserts claims for monetary and injunctive relief on behalf of a purported class of participants and beneficiaries in the Plan who held Citizens stock in their Plan accounts during the period from April 17, 2008 to "the present." In April 2014, the court denied the defendants' motion to dismiss the second amended complaint, but stayed the action pending the outcome of a case currently before the U.S. Supreme Court. The court lifted the stay in July 2014. | |||||||||||||
Based on information currently available, consultation with counsel, available insurance coverage and established reserves, Management believes that the eventual outcome of all claims against the Corporation and its subsidiaries will not, individually or in the aggregate, have a material adverse effect on its consolidated financial position or results of operations. However, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the results of operations for a particular period. The Corporation has not established any reserves with respect to any of this disclosed litigation because it is not possible to determine (i) whether a liability has been incurred; or (ii) an estimate of the ultimate or minimum amount of such liability. | |||||||||||||
Commitments to Extend Credit | |||||||||||||
Commitments to extend credit are agreements to lend to a customer provided there is no violation of any condition established in the contract. Loan commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans are considered derivative instruments, and the fair value of these commitments is recorded on the consolidated balance sheets. Additional information is provided in Note 9 (Derivatives and Hedging Activities). Commitments generally are extended at the then-prevailing interest rates, 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. Loan commitments involve credit risk not reflected on the balance sheet. The Corporation mitigates exposure to credit risk with internal controls that guide how applications for credit are reviewed and approved, how credit limits are established and, when necessary, how demands for collateral are made. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. Management evaluates the creditworthiness of each prospective borrower on a case-by-case basis and, when appropriate, adjusts the allowance for probable credit losses inherent in all commitments. The reserve for unfunded lending commitments at June 30, 2014, December 31, 2013, and June 30, 2013 was $7.1 million, $7.9 million and $8.1 million, respectively. Additional information pertaining to this allowance is included in Note 5 (Allowance for Loan Losses) and under the heading "Allowance for Loan Losses and Reserve for Unfunded Lending Commitments" within Management's Discussion and Analysis of Financial Condition and Results of Operation of this report. | |||||||||||||
The following table shows the remaining contractual amount of each class of commitments to extend credit as of June 30, 2014, December 31, 2013, and June 30, 2013. This amount represents the Corporation's maximum exposure to loss if the customer were to draw upon the full amount of the commitment and subsequently default on payment for the total amount of the then outstanding loan. | |||||||||||||
Loan commitments | |||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||
Commercial | $ | 3,386,052 | $ | 3,367,625 | $ | 3,020,138 | |||||||
Consumer | 2,280,431 | 2,179,010 | 2,096,495 | ||||||||||
Total loan commitments | $ | 5,666,483 | $ | 5,546,635 | $ | 5,116,633 | |||||||
Guarantees | |||||||||||||
The Corporation is a guarantor in certain agreements with third parties. The following table shows the types of guarantees the Corporation had outstanding as of June 30, 2014, December 31, 2013, and June 30, 2013. | |||||||||||||
Financial guarantees | |||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||
Standby letters of credit | $ | 201,212 | $ | 196,400 | $ | 239,181 | |||||||
Loans sold with recourse | 34,662 | 45,082 | 54,944 | ||||||||||
Total financial guarantees | $ | 235,874 | $ | 241,482 | $ | 294,125 | |||||||
Standby letters of credit obligate the Corporation to pay a specified third party when a customer fails to repay an outstanding loan or debt instrument, or fails to perform some contractual nonfinancial obligation. The credit risk involved in issuing letters of credit is essentially the same as involved in extending loan facilities to customers. Collateral held varies, but may include marketable securities, equipment and real estate. Any amounts drawn under standby letters of credit are treated as loans; they bear interest and pose the same credit risk to the Corporation as a loan. Except for short-term guarantees of $113.7 million at June 30, 2014, the remaining guarantees extend in varying amounts through 2019. | |||||||||||||
Asset Sales | |||||||||||||
The Corporation regularly sells residential mortgage loans service retained to GSEs as part of its mortgage banking activities. The Corporation provides customary representation and warranties to the GSEs in conjunction with these sales. These representations and warranties generally require the Corporation to repurchase assets if it is subsequently determined that a loan did not meet specified criteria, such as a documentation deficiency or rescission of mortgage insurance. If the Corporation is unable to cure or refute a repurchase request, the Corporation is generally obligated to repurchase the loan or otherwise reimburse the counterparty for losses. The Corporation also sells residential mortgage loans serviced released to other investors which contain early payment default recourse provisions. As of June 30, 2014, December 31, 2013, and June 30, 2013, the Corporation had sold $24.1 million, $34.6 million, and $41.9 million, respectively, of outstanding residential mortgage loans to GSEs and other investors with recourse provisions. The Corporation had reserved $7.9 million, $8.7 million, and $7.3 million as of June 30, 2014, December 31, 2013, and June 30, 2013, respectively, for potential losses from representation and warranty obligations and early payment default recourse provisions. | |||||||||||||
Due to prior acquisitions, as of June 30, 2014, the Corporation continued to service approximately $6.4 million in manufactured housing loans that were sold with recourse compared to $6.4 million and $8.2 million as of December 31, 2013 and June 30, 2013, respectively. As of June 30, 2014, the Corporation had reserved $1.1 million for potential losses from these manufactured housing loans, consistent with the reserve balance at December 31, 2013 and June 30, 2013. | |||||||||||||
The total reserve associated with loans sold with recourse was approximately $9.0 million, $9.9 million, and $8.4 million as of June 30, 2014, December 31, 2013, and June 30, 2013, respectively, and is included in accrued taxes, expenses and other liabilities on the Consolidated Balance Sheets. The Corporation's reserve reflects Management's best estimate of losses. The Corporation's reserving methodology uses current information about investor repurchase requests, and assumptions about repurchase mix and loss severity, based upon the Corporation's most recent loss trends. The Corporation also considers qualitative factors that may result in anticipated losses differing from historical loss trends, such as loan vintage, underwriting characteristics and macroeconomic trends. | |||||||||||||
Changes in the amount of the repurchase reserve for the three and six months ended June 30, 2014 and 2013 are as follows: | |||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||
(In thousands) | Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | ||||||||||
Balance at beginning of period | $ | 8,200 | $ | 1,117 | $ | 9,317 | |||||||
Net realized losses | (164 | ) | — | (164 | ) | ||||||||
Net increase (decrease) to reserve | (136 | ) | 5 | (131 | ) | ||||||||
Balance at end of period | $ | 7,900 | $ | 1,122 | $ | 9,022 | |||||||
Three Months Ended June 30, 2013 | |||||||||||||
(In thousands) | Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchased reserve | ||||||||||
Balance at beginning of period | $ | 1,600 | $ | 1,138 | $ | 2,738 | |||||||
Assumed obligation | 6,000 | — | 6,000 | ||||||||||
Net realized losses | (928 | ) | — | (928 | ) | ||||||||
Net increase (decrease) to reserve | 615 | (32 | ) | 583 | |||||||||
Balance at end of period | $ | 7,287 | $ | 1,106 | $ | 8,393 | |||||||
Six Months Ended June 30, 2014 | |||||||||||||
(In thousands) | Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | ||||||||||
Balance at beginning of period | $ | 8,737 | $ | 1,114 | $ | 9,851 | |||||||
Net realized losses | (2,757 | ) | — | (2,757 | ) | ||||||||
Net increase (decrease) to reserve | 1,920 | 8 | 1,928 | ||||||||||
Balance at end of period | $ | 7,900 | $ | 1,122 | $ | 9,022 | |||||||
Six Months Ended June 30, 2013 | |||||||||||||
(In thousands) | Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | ||||||||||
Balance at beginning of period | $ | 1,500 | $ | 1,167 | $ | 2,667 | |||||||
Assumed obligation | 6,000 | — | 6,000 | ||||||||||
Net realized losses | (1,070 | ) | — | (1,070 | ) | ||||||||
Net increase (decrease) to reserve | 857 | (61 | ) | 796 | |||||||||
Balance at end of period | $ | 7,287 | $ | 1,106 | $ | 8,393 | |||||||
Changes_and_Reclassifications_
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Notes) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Changes and Reclassifications Out of Other Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||
Comprehensive Income (Loss) Note | ' | |||||||||||||||||||||||
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | ||||||||||||||||||||||||
The following table presents the changes in AOCI by component of comprehensive income for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | |||||||||||||||||||||||
(In thousands) | Pre-tax | Tax | After-tax | Pre-tax | Tax | After-tax | ||||||||||||||||||
Unrealized and realized securities gains and losses: | ||||||||||||||||||||||||
Balance at the beginning of the period | $ | (27,578 | ) | $ | (9,653 | ) | $ | (17,925 | ) | $ | (45,072 | ) | $ | (15,775 | ) | $ | (29,297 | ) | ||||||
Changes in unrealized securities' holding gains/(losses) | 22,456 | 7,860 | 14,596 | 40,500 | 14,175 | 26,325 | ||||||||||||||||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred into available-for-sale from held-to-maturity | (494 | ) | (173 | ) | (321 | ) | (988 | ) | (346 | ) | (642 | ) | ||||||||||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income | (80 | ) | (28 | ) | (52 | ) | (136 | ) | (48 | ) | (88 | ) | ||||||||||||
Balance at the end of the period | (5,696 | ) | (1,994 | ) | (3,702 | ) | (5,696 | ) | (1,994 | ) | (3,702 | ) | ||||||||||||
Pension plans and other postretirement benefits: | ||||||||||||||||||||||||
Balance at the beginning and end of the period | (57,812 | ) | (20,233 | ) | (37,579 | ) | (57,812 | ) | (20,233 | ) | (37,579 | ) | ||||||||||||
Current year actual losses (gains) | — | — | — | — | — | — | ||||||||||||||||||
Amortization of actuarial gain | 1,631 | 571 | 1,060 | 1,631 | 571 | 1,060 | ||||||||||||||||||
Amortization of prior service cost reclassified to other noninterest expense | 1,097 | 383 | 714 | 1,097 | 383 | 714 | ||||||||||||||||||
Balance at the end of the period | $ | (55,084 | ) | $ | (19,279 | ) | $ | (35,805 | ) | $ | (55,084 | ) | $ | (19,279 | ) | $ | (35,805 | ) | ||||||
Total Accumulated Other Comprehensive Income | $ | (60,780 | ) | $ | (21,273 | ) | $ | (39,507 | ) | $ | (60,780 | ) | $ | (21,273 | ) | $ | (39,507 | ) | ||||||
Three Months Ended June 30, 2013 | Six months ended June 30, 2013 | |||||||||||||||||||||||
(In thousands) | Pre-tax | Tax | After-tax | Pretax | Tax | After-tax | ||||||||||||||||||
Unrealized and realized securities gains and losses: | ||||||||||||||||||||||||
Balance at the beginning of the period | $ | 73,083 | $ | 25,579 | $ | 47,504 | $ | 85,259 | $ | 29,841 | $ | 55,418 | ||||||||||||
Changes in unrealized securities' holding gains/(losses) | (75,729 | ) | (26,505 | ) | (49,224 | ) | (87,362 | ) | (30,577 | ) | (56,785 | ) | ||||||||||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred into available-for-sale from held-to-maturity | (568 | ) | (199 | ) | (369 | ) | (1,120 | ) | (392 | ) | (728 | ) | ||||||||||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income | 2,794 | 978 | 1,816 | 2,803 | 981 | 1,822 | ||||||||||||||||||
Balance at the end of the period | (420 | ) | (147 | ) | (273 | ) | (420 | ) | (147 | ) | (273 | ) | ||||||||||||
Pension plans and other postretirement benefits: | ||||||||||||||||||||||||
Balance at the beginning and end of the period | (110,188 | ) | (38,565 | ) | (71,623 | ) | (110,188 | ) | (38,565 | ) | (71,623 | ) | ||||||||||||
Current year actual losses (gains) | — | — | — | — | — | — | ||||||||||||||||||
Amortization of actuarial gain | — | — | — | — | — | — | ||||||||||||||||||
Amortization of prior service cost reclassified to other noninterest expense | — | — | — | — | — | — | ||||||||||||||||||
Balance at the end of the period | $ | (110,188 | ) | $ | (38,565 | ) | $ | (71,623 | ) | $ | (110,188 | ) | $ | (38,565 | ) | $ | (71,623 | ) | ||||||
Total Accumulated Other Comprehensive Income | $ | (110,608 | ) | $ | (38,712 | ) | $ | (71,896 | ) | $ | (110,608 | ) | $ | (38,712 | ) | $ | (71,896 | ) | ||||||
The following table presents current period reclassifications out of AOCI by component of comprehensive income for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||
(In thousands) | Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | Income statement line item presentation | |||||||||||||||||||||
Realized (gains)/losses on sale of securities | $ | (80 | ) | $ | (136 | ) | Investment securities losses (gains), net | |||||||||||||||||
Tax expense (benefit) (35%) | (28 | ) | (48 | ) | Income tax expense (benefit) | |||||||||||||||||||
Reclassified amount, net of tax | $ | (52 | ) | $ | (88 | ) | ||||||||||||||||||
(In thousands) | Three Months Ended June 30, 2013 | Six months ended June 30, 2013 | Income statement line item presentation | |||||||||||||||||||||
Realized (gains)/losses on sale of securities | $ | 2,794 | $ | 2,803 | Investment securities losses (gains), net | |||||||||||||||||||
Tax expense (benefit) (35%) | 978 | 982 | Income tax expense (benefit) | |||||||||||||||||||||
Reclassified amount, net of tax | $ | 1,816 | $ | 1,821 | ||||||||||||||||||||
Subsequent_Events_unaudited
Subsequent Events (unaudited) | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
In preparing these financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all shareholders and other financial statement users, or filed with the Securities and Exchange Commission. In accordance with applicable accounting standards, all material subsequent events have been either recognized in the financial statements or disclosed in the notes to the financial statements. |
Investment_Securities_Investme
Investment Securities Investment policy on municipal security concentration (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Investment policy on municipal securities [Abstract] | ' |
investment policy on municipal securities | ' |
The Corporation's investment policy states that municipal securities purchased are to be investment grade and allows for a 20% maximum portfolio concentration in municipal securities with a combined individual state to total municipal outstanding equal to or less than 25%. |
Business_Combinations_Tables
Business Combinations (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||||||||||
The following table provides the purchase price calculation as of the Acquisition Date and the identifiable assets purchased and the liabilities assumed at their estimated fair value. These fair value measurements are based on third-party valuations. | ||||||||||||
Purchase Price: | ||||||||||||
FirstMerit shares of Common Stock issued for Citizens' shares | 55,468,283 | |||||||||||
Closing price per share of the Corporation's Common Stock on April 12, 2013 | $ | 16.68 | ||||||||||
Consideration from Common Stock conversion (1.37 ratio) | 925,211 | |||||||||||
Cash paid to the Treasury for Citizens' TARP Preferred | 355,371 | |||||||||||
Cash paid in lieu of fractional shares to the former Citizens' shareholders | 61 | |||||||||||
Consideration from the warrant issued to the Treasury for Citizens' TARP warrant | 3,000 | |||||||||||
Total purchase price | $ | 1,283,643 | ||||||||||
Statement of Net Assets Acquired at Fair Value: | ||||||||||||
ASSETS | ||||||||||||
Cash and due from banks | $ | 544,380 | ||||||||||
Investment securities | 3,202,575 | |||||||||||
Loans | 4,617,004 | |||||||||||
Premises and equipment | 138,536 | |||||||||||
Intangible assets | 84,774 | (a) | ||||||||||
Accrued interest receivable and other assets | 681,100 | |||||||||||
Total assets | $ | 9,268,369 | ||||||||||
LIABILITIES | ||||||||||||
Deposits | $ | 7,276,754 | ||||||||||
Borrowings | 908,824 | |||||||||||
Accrued taxes, expenses, and other liabilities | 80,842 | |||||||||||
Total liabilities | $ | 8,266,420 | ||||||||||
Net identifiable assets acquired | 1,001,949 | |||||||||||
Goodwill | $ | 281,694 | ||||||||||
(a) Intangible assets consist of core deposit intangibles of $70.8 million and trust relationships of approximately $14.0 million. The useful lives for which the core deposit intangibles and the trust relationships are being amortized over is 15 years and 12 years, respectively. | ||||||||||||
Acquired Impaired and Non-Impaired Loans at Acquisition Date | ' | |||||||||||
The following table summarizes the fair value of both acquired impaired and nonimpaired loans by product type as of the Acquisition Date. | ||||||||||||
(In thousands) | Acquired Impaired Loans | Acquired Nonimpaired Loans | Acquired Loans Total | |||||||||
Commercial | ||||||||||||
C&I | $ | 93,735 | $ | 1,660,199 | $ | 1,753,934 | ||||||
CRE | 378,569 | 359,066 | 737,635 | |||||||||
Construction | 13,399 | 17,135 | 30,534 | |||||||||
Total commercial | 485,703 | 2,036,400 | 2,522,103 | |||||||||
Consumer | ||||||||||||
Residential mortgages | 232,291 | 278,404 | 510,695 | |||||||||
Installment | 54,108 | 1,165,235 | 1,219,343 | |||||||||
Home equity lines | 47,613 | 317,250 | 364,863 | |||||||||
Total consumer | 334,012 | 1,760,889 | 2,094,901 | |||||||||
Total | $ | 819,715 | $ | 3,797,289 | $ | 4,617,004 | ||||||
Acquired Non-impaired Loans Fair Value at Acquisition Date | ' | |||||||||||
For acquired nonimpaired loans, the difference between the Acquisition Date fair value and the contractual amounts due at the Acquisition Date represents the fair value adjustment. The fair value adjustment may be a discount (or premium) to an individual loan's cost basis and is accreted (or amortized) to interest income over the loan's remaining life using the level yield method. Acquired nonimpaired loans are reported net of the unamortized fair value adjustment. The fair value adjustment for acquired nonimpaired loans as of the Acquisition Date is presented in the following table. | ||||||||||||
(In thousands) | Acquired Nonimpaired Loans | |||||||||||
Outstanding balance | $ | 4,017,304 | ||||||||||
Less: Fair value adjustment | 220,015 | |||||||||||
Fair value of acquired nonimpaired loans | $ | 3,797,289 | ||||||||||
Nonimpaired Loans Cash Flows Reconciliation at Acquisition Date | ' | |||||||||||
The table below details contractually required payments, cash flows not expected to be collected and cash flows expected to be collected on acquired nonimpaired loans as of the Acquisition Date. | ||||||||||||
(In thousands) | Acquired Nonimpaired Loans | |||||||||||
Contractually required payments including interest (a) | $ | 4,955,180 | ||||||||||
Less: Contractual cash flows not expected to be collected | 680,664 | |||||||||||
Cash flows expected to be collected | $ | 4,274,516 | ||||||||||
(a) Total undiscounted amounts of all uncollected contractual principal and interest, including any fees and penalties, both past due and scheduled for the future, assuming no loss or prepayment. | ||||||||||||
Reconciliation of Carrying Amount of Acquired Loans | ' | |||||||||||
Total outstanding acquired impaired loans as of the Acquisition Date were $1.1 billion. A reconciliation of the contractual required payments to the fair value of the acquired impaired loans at the Acquisition Date is as follows: | ||||||||||||
(In thousands) | Acquired Impaired Loans | |||||||||||
Contractually required payments including interest (a) | $ | 1,231,172 | ||||||||||
Nonaccretable difference (b) | (279,899 | ) | ||||||||||
Cash flows expected to be collected (c) | 951,273 | |||||||||||
Accretable yield (d) | (131,558 | ) | ||||||||||
Fair value of loans acquired | $ | 819,715 | ||||||||||
(a) Total undiscounted amounts of all uncollected contractual principal and interest, including any fees and penalties, both past due and scheduled for the future, assuming no loss or prepayment. | ||||||||||||
(b) The nonaccretable difference represents, as of the Acquisition Date, the amount of contractually required payments, including interest, that are not expected to be collected based on estimated credit losses and other factors, such as prepayments. | ||||||||||||
(c) Represents the estimate, at Acquisition Date, of the amount and timing of undiscounted principal, interest, and other cash flows expected to be collected. This estimate includes the effect of anticipated prepayments. | ||||||||||||
(d) The accretable yield represents the excess of cash flows expected at Acquisition Date over the estimated fair value and is recognized as interest income over the remaining life of the loan using the level yield method. | ||||||||||||
Business Acquisition, Pro Forma Information | ' | |||||||||||
These unaudited pro forma results are presented for illustrative purposes and are not intended to represent or be indicative of the actual results of operations of the combined corporation that would have been achieved had the acquisition occurred at the beginning of each period presented, nor are they intended to represent or be indicative of future results of operations. | ||||||||||||
(In thousands) | Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | ||||||||||
Total revenue, net of interest expense | $ | 335,796 | $ | 643,052 | ||||||||
Net income | 73,972 | 153,487 | ||||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||||||
Amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities | ' | |||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities. Held-to-maturity securities are carried at amortized cost, which reflects historical cost, adjusted for amortization of premiums and accretion of discounts. Available-for-sale securities are carried at fair value with net unrealized gains or losses reported on an after-tax basis as a component of OCI in shareholders' equity. | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Gross Unrealized Gains | Gross Unrealized Losses | Fair | ||||||||||||||||||||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 233,228 | $ | 8,600 | $ | (1,023 | ) | $ | 240,805 | |||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 998,698 | 24,965 | (5,489 | ) | 1,018,174 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 86,870 | 351 | (1,523 | ) | 85,698 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,627,871 | 5,009 | (34,849 | ) | 1,598,031 | |||||||||||||||||||||||||||||||||||||||||||
Non-agency | 8 | — | — | 8 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 182,151 | 1,008 | (1,126 | ) | 182,033 | |||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 297,334 | 883 | (4,252 | ) | 293,965 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 61,624 | — | (8,134 | ) | 53,490 | |||||||||||||||||||||||||||||||||||||||||||
Total debt securities | 3,487,784 | 40,816 | (56,396 | ) | 3,472,204 | |||||||||||||||||||||||||||||||||||||||||||
Equity securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | 2,935 | — | — | 2,935 | ||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | — | 3,281 | ||||||||||||||||||||||||||||||||||||||||||||
Total equity securities | 6,216 | — | — | 6,216 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 3,494,000 | $ | 40,816 | $ | (56,396 | ) | $ | 3,478,420 | |||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. treasuries | $ | 5,000 | $ | 5 | $ | — | $ | 5,005 | ||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | 25,000 | — | (707 | ) | 24,293 | |||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 549,850 | 10,072 | (1,253 | ) | 558,669 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 624,605 | 6,825 | (4,933 | ) | 626,497 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 56,020 | 176 | (445 | ) | 55,751 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,450,479 | 114 | (54,263 | ) | 1,396,330 | |||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 248,974 | 641 | (7,252 | ) | 242,363 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 92,190 | 768 | — | 92,958 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities held to maturity | $ | 3,052,118 | $ | 18,601 | $ | (68,853 | ) | $ | 3,001,866 | |||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Gross Unrealized Gains | Gross Unrealized Losses | Fair | ||||||||||||||||||||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 258,787 | $ | 7,376 | $ | (3,796 | ) | $ | 262,367 | |||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 962,687 | 21,662 | (14,427 | ) | 969,922 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 72,048 | 7 | (2,488 | ) | 69,567 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,566,262 | 4,199 | (52,068 | ) | 1,518,393 | |||||||||||||||||||||||||||||||||||||||||||
Non-agency | 9 | — | — | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 104,152 | 273 | (2,157 | ) | 102,268 | |||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 297,259 | 760 | (4,332 | ) | 293,687 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 61,596 | — | (10,952 | ) | 50,644 | |||||||||||||||||||||||||||||||||||||||||||
Total debt securities | 3,322,800 | 34,277 | (90,220 | ) | 3,266,857 | |||||||||||||||||||||||||||||||||||||||||||
Equity securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | 3,036 | — | — | 3,036 | ||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | — | 3,281 | ||||||||||||||||||||||||||||||||||||||||||||
Total equity securities | 6,317 | — | — | 6,317 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 3,329,117 | $ | 34,277 | $ | (90,220 | ) | $ | 3,273,174 | |||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasuries | $ | 5,000 | $ | 4 | $ | — | $ | 5,004 | ||||||||||||||||||||||||||||||||||||||||
U.S. government agencies debentures | 25,000 | — | (1,348 | ) | 23,652 | |||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 480,703 | 5,335 | (10,459 | ) | 475,579 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 569,960 | 1,108 | (11,617 | ) | 559,451 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 56,596 | — | (1,190 | ) | 55,406 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,464,732 | — | (81,818 | ) | 1,382,914 | |||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 240,069 | 6 | (11,052 | ) | 229,023 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 93,628 | 308 | (725 | ) | 93,211 | |||||||||||||||||||||||||||||||||||||||||||
Total securities held to maturity | $ | 2,935,688 | $ | 6,761 | $ | (118,209 | ) | $ | 2,824,240 | |||||||||||||||||||||||||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Gross Unrealized Gains | Gross Unrealized Losses | Fair | ||||||||||||||||||||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 272,254 | $ | 9,207 | $ | (3,527 | ) | $ | 277,934 | |||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,058,323 | 27,797 | (10,192 | ) | 1,075,928 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 58,609 | 29 | (2,141 | ) | 56,497 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,586,576 | 7,272 | (27,120 | ) | 1,566,728 | |||||||||||||||||||||||||||||||||||||||||||
Non-agency | 10 | — | — | 10 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 108,000 | 533 | (1,965 | ) | 106,568 | |||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 159,916 | — | (1,821 | ) | 158,095 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 61,569 | — | (10,431 | ) | 51,138 | |||||||||||||||||||||||||||||||||||||||||||
Total debt securities | 3,305,257 | 44,838 | (57,197 | ) | 3,292,898 | |||||||||||||||||||||||||||||||||||||||||||
Equity Securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | 3,213 | — | — | 3,213 | ||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | — | 3,281 | ||||||||||||||||||||||||||||||||||||||||||||
Total equity securities | 6,494 | — | — | 6,494 | ||||||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 3,311,751 | $ | 44,838 | $ | (57,197 | ) | $ | 3,299,392 | |||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. treasuries | $ | 4,999 | $ | — | $ | — | $ | 4,999 | ||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | 25,000 | — | (1,193 | ) | 23,807 | |||||||||||||||||||||||||||||||||||||||||||
U.S states and political subdivisions | 436,860 | 3,878 | (9,041 | ) | 431,697 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 253,839 | — | (8,051 | ) | 245,788 | |||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 50,352 | — | (619 | ) | 49,733 | |||||||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,510,374 | 67 | (41,674 | ) | 1,468,767 | |||||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 175,384 | — | (7,285 | ) | 168,099 | |||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 95,052 | 132 | (1,003 | ) | 94,181 | |||||||||||||||||||||||||||||||||||||||||||
Total securities held to maturity | $ | 2,551,860 | $ | 4,077 | $ | (68,866 | ) | $ | 2,487,071 | |||||||||||||||||||||||||||||||||||||||
Schedule of general obligation bonds | ' | |||||||||||||||||||||||||||||||||||||||||||||||
The Corporation's U.S. states and political subdivisions portfolio is composed of general obligation bonds issued by a highly diversified number of states, cities, counties, and school districts. The amortized cost and fair value of the Corporation's portfolio of general obligation bonds are summarized by U.S. state in the tables below. As illustrated in the tables below, the aggregate fair value of the Corporation's general obligation bonds was greater than $10.0 million in eleven of the thirty-six U.S. states in which it holds investments. | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | June 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. State | # of Issuers | Average Issue Size, Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Ohio | 152 | $ | 1,065 | $ | 158,773 | $ | 161,809 | |||||||||||||||||||||||||||||||||||||||||
Michigan | 174 | 862 | 146,565 | 150,052 | ||||||||||||||||||||||||||||||||||||||||||||
Illinois | 74 | 1,578 | 113,501 | 116,741 | ||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | 87 | 864 | 72,616 | 75,155 | ||||||||||||||||||||||||||||||||||||||||||||
Texas | 65 | 794 | 50,845 | 51,632 | ||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 49 | 972 | 47,870 | 47,623 | ||||||||||||||||||||||||||||||||||||||||||||
Minnesota | 42 | 678 | 27,864 | 28,468 | ||||||||||||||||||||||||||||||||||||||||||||
Washington | 30 | 955 | 28,191 | 28,660 | ||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 37 | 751 | 26,815 | 27,805 | ||||||||||||||||||||||||||||||||||||||||||||
Missouri | 19 | 1,022 | 18,855 | 19,413 | ||||||||||||||||||||||||||||||||||||||||||||
New York | 21 | 612 | 12,627 | 12,860 | ||||||||||||||||||||||||||||||||||||||||||||
Other | 123 | 640 | 78,100 | 78,724 | ||||||||||||||||||||||||||||||||||||||||||||
Total general obligation bonds | 873 | $ | 915 | $ | 782,622 | $ | 798,942 | |||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. State | # of Issuers | Average Issue Size, Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Ohio | 154 | $ | 1,041 | $ | 159,674 | $ | 160,265 | |||||||||||||||||||||||||||||||||||||||||
Michigan | 166 | 744 | 122,198 | 123,571 | ||||||||||||||||||||||||||||||||||||||||||||
Illinois | 75 | 1,314 | 96,863 | 98,521 | ||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | 87 | 645 | 54,921 | 56,152 | ||||||||||||||||||||||||||||||||||||||||||||
Texas | 69 | 771 | 54,295 | 53,204 | ||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 51 | 891 | 48,319 | 45,451 | ||||||||||||||||||||||||||||||||||||||||||||
Minnesota | 45 | 663 | 29,840 | 29,816 | ||||||||||||||||||||||||||||||||||||||||||||
Washington | 30 | 930 | 28,393 | 27,906 | ||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 38 | 722 | 27,101 | 27,440 | ||||||||||||||||||||||||||||||||||||||||||||
Missouri | 20 | 969 | 19,253 | 19,382 | ||||||||||||||||||||||||||||||||||||||||||||
New York | 22 | 585 | 13,064 | 12,878 | ||||||||||||||||||||||||||||||||||||||||||||
California | 18 | 599 | 10,651 | 10,788 | ||||||||||||||||||||||||||||||||||||||||||||
Other | 115 | 631 | 74,918 | 72,572 | ||||||||||||||||||||||||||||||||||||||||||||
Total general obligation bonds | 890 | $ | 829 | $ | 739,490 | $ | 737,946 | |||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | June 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. State | # of Issuers | Average Issue Size, Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Ohio | 155 | $ | 983 | $ | 151,243 | $ | 152,289 | |||||||||||||||||||||||||||||||||||||||||
Illinois | 68 | 1,045 | 69,718 | 71,055 | ||||||||||||||||||||||||||||||||||||||||||||
Texas | 70 | 774 | 55,132 | 54,201 | ||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 57 | 885 | 52,581 | 50,428 | ||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | 82 | 646 | 51,660 | 52,933 | ||||||||||||||||||||||||||||||||||||||||||||
Minnesota | 47 | 658 | 30,675 | 30,927 | ||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 39 | 720 | 27,485 | 28,078 | ||||||||||||||||||||||||||||||||||||||||||||
Michigan | 174 | 689 | 119,040 | 119,916 | ||||||||||||||||||||||||||||||||||||||||||||
Washington | 31 | 947 | 29,696 | 29,371 | ||||||||||||||||||||||||||||||||||||||||||||
Missouri | 20 | 981 | 19,351 | 19,624 | ||||||||||||||||||||||||||||||||||||||||||||
New York | 22 | 609 | 13,484 | 13,400 | ||||||||||||||||||||||||||||||||||||||||||||
California | 20 | 591 | 11,592 | 11,821 | ||||||||||||||||||||||||||||||||||||||||||||
Other | 118 | 636 | 76,974 | 75,021 | ||||||||||||||||||||||||||||||||||||||||||||
Total general obligation bonds | 903 | $ | 605 | $ | 708,631 | $ | 709,064 | |||||||||||||||||||||||||||||||||||||||||
Other investments | ' | |||||||||||||||||||||||||||||||||||||||||||||||
FRB and FHLB stock constitute the majority of other investments on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | 30-Jun-14 | 31-Dec-13 | 30-Jun-13 | |||||||||||||||||||||||||||||||||||||||||||||
FRB stock | $ | 55,435 | $ | 55,294 | $ | 52,477 | ||||||||||||||||||||||||||||||||||||||||||
FHLB stock | 92,547 | 125,032 | 214,586 | |||||||||||||||||||||||||||||||||||||||||||||
Other | 451 | 477 | 502 | |||||||||||||||||||||||||||||||||||||||||||||
Total other investments | $ | 148,433 | $ | 180,803 | $ | 267,565 | ||||||||||||||||||||||||||||||||||||||||||
Realized Gains and Losses | ' | |||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Realized gains | $ | 80 | $ | 3,786 | $ | 300 | $ | 3,786 | ||||||||||||||||||||||||||||||||||||||||
Realized losses | — | (6,580 | ) | (164 | ) | (6,589 | ) | |||||||||||||||||||||||||||||||||||||||||
Net securities (losses)/gains | $ | 80 | $ | (2,794 | ) | $ | 136 | $ | (2,803 | ) | ||||||||||||||||||||||||||||||||||||||
Gross unrealized losses and fair value of securities | ' | |||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the gross unrealized losses and fair value of securities by length of time that individual securities had been in a continuous loss position by major categories of available-for-sale and held-to-maturity securities. | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Unrealized | Number | Fair Value | Unrealized | Number | Fair Value | Unrealized | ||||||||||||||||||||||||||||||||||||||||
Losses | Impaired | Losses | Impaired | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 10,988 | $ | (16 | ) | 14 | $ | 30,271 | $ | (1,007 | ) | 50 | $ | 41,259 | $ | (1,023 | ) | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 11,636 | (3 | ) | 1 | 259,470 | (5,486 | ) | 19 | 271,106 | (5,489 | ) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 5,105 | (4 | ) | 1 | 45,739 | (1,519 | ) | 6 | 50,844 | (1,523 | ) | |||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 279,311 | (2,358 | ) | 19 | 904,821 | (32,491 | ) | 60 | 1,184,132 | (34,849 | ) | |||||||||||||||||||||||||||||||||||||
Non-agency | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 24,431 | (97 | ) | 1 | 43,212 | (1,029 | ) | 6 | 67,643 | (1,126 | ) | |||||||||||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 141,506 | (2,568 | ) | 19 | 81,749 | (1,684 | ) | 12 | 223,255 | (4,252 | ) | |||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | 53,490 | (8,134 | ) | 8 | 53,490 | (8,134 | ) | ||||||||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 472,977 | $ | (5,046 | ) | 55 | $ | 1,418,752 | $ | (51,350 | ) | 161 | $ | 1,891,729 | $ | (56,396 | ) | |||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | $ | — | $ | — | — | $ | 24,293 | $ | (707 | ) | 1 | $ | 24,293 | $ | (707 | ) | ||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 59,958 | (334 | ) | 56 | 66,557 | (919 | ) | 90 | 126,515 | (1,253 | ) | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 206,911 | (4,933 | ) | 11 | 206,911 | (4,933 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 23,977 | (445 | ) | 3 | 23,977 | (445 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 127,284 | (1,100 | ) | 8 | 1,241,883 | (53,163 | ) | 60 | 1,369,167 | (54,263 | ) | |||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 183,957 | (7,252 | ) | 17 | 183,957 | (7,252 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 187,242 | $ | (1,434 | ) | 64 | $ | 1,747,578 | $ | (67,419 | ) | 182 | $ | 1,934,820 | $ | (68,853 | ) | |||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Unrealized | Number | Fair Value | Unrealized | Number | Fair Value | Unrealized | ||||||||||||||||||||||||||||||||||||||||
Losses | Impaired | Losses | Impaired | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 38,039 | $ | (1,996 | ) | 65 | $ | 14,157 | $ | (1,800 | ) | 25 | $ | 52,196 | $ | (3,796 | ) | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 434,761 | (13,109 | ) | 35 | 14,890 | (1,318 | ) | 2 | 449,651 | (14,427 | ) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 33,387 | (1,491 | ) | 5 | 16,944 | (997 | ) | 2 | 50,331 | (2,488 | ) | |||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,135,151 | (44,775 | ) | 74 | 100,530 | (7,293 | ) | 7 | 1,235,681 | (52,068 | ) | |||||||||||||||||||||||||||||||||||||
Nonagency | — | — | — | 1 | — | 1 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 43,747 | (2,055 | ) | 6 | 2,525 | (102 | ) | 1 | 46,272 | (2,157 | ) | |||||||||||||||||||||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 223,458 | (4,332 | ) | 33 | — | — | — | 223,458 | (4,332 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | 50,644 | (10,952 | ) | 8 | 50,644 | (10,952 | ) | ||||||||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 1,908,543 | $ | (67,758 | ) | 218 | $ | 199,691 | $ | (22,462 | ) | 46 | $ | 2,108,234 | $ | (90,220 | ) | |||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | $ | 23,652 | $ | (1,348 | ) | 1 | $ | — | $ | — | — | $ | 23,652 | $ | (1,348 | ) | ||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 222,154 | (10,276 | ) | 353 | 2,478 | (183 | ) | 6 | 224,632 | (10,459 | ) | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 422,192 | (11,617 | ) | 22 | — | — | 11 | 422,192 | (11,617 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 48,831 | (1,190 | ) | 8 | — | — | 3 | 48,831 | (1,190 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,382,915 | (81,818 | ) | 66 | — | — | — | 1,382,915 | (81,818 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 208,863 | (11,052 | ) | 19 | — | — | — | 208,863 | (11,052 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 64,541 | (725 | ) | 23 | — | — | — | 64,541 | (725 | ) | ||||||||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 2,373,148 | $ | (118,026 | ) | 492 | $ | 2,478 | $ | (183 | ) | 6 | $ | 2,375,626 | $ | (118,209 | ) | |||||||||||||||||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Unrealized | Number | Fair Value | Unrealized | Number | Fair Value | Unrealized | ||||||||||||||||||||||||||||||||||||||||
Losses | Impaired | Losses | Impaired | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | $ | 61,933 | $ | (3,527 | ) | 106 | $ | — | $ | — | — | $ | 61,933 | $ | (3,527 | ) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 331,857 | (10,192 | ) | 23 | — | — | — | 331,857 | (10,192 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 51,378 | (2,141 | ) | 7 | — | — | — | 51,378 | (2,141 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,070,624 | (27,120 | ) | 64 | — | — | — | 1,070,624 | (27,120 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 42,537 | (1,965 | ) | 6 | — | — | — | 42,537 | (1,965 | ) | ||||||||||||||||||||||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 74,779 | (1,821 | ) | 14 | — | — | — | 74,779 | (1,821 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | 51,138 | (10,431 | ) | 8 | 51,138 | (10,431 | ) | ||||||||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 1,633,108 | $ | (46,766 | ) | 220 | $ | 51,138 | $ | (10,431 | ) | 8 | $ | 1,684,246 | $ | (57,197 | ) | |||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agency debentures | $ | 23,807 | $ | (1,193 | ) | 1 | $ | — | $ | — | — | $ | 23,807 | $ | (1,193 | ) | ||||||||||||||||||||||||||||||||
U.S. states and political subdivisions | 228,098 | (9,041 | ) | 362 | — | — | — | 228,098 | (9,041 | ) | ||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 225,681 | (8,051 | ) | 11 | — | — | — | 225,681 | (8,051 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 39,697 | (619 | ) | 7 | — | — | — | 39,697 | (619 | ) | ||||||||||||||||||||||||||||||||||||||
Residential collateralized mortgage securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 1,451,813 | (41,674 | ) | 65 | — | — | — | 1,451,813 | (41,674 | ) | ||||||||||||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 150,223 | (7,285 | ) | 14 | — | — | — | 150,223 | (7,285 | ) | ||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 72,017 | (1,003 | ) | 25 | — | — | — | 72,017 | (1,003 | ) | ||||||||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 2,191,336 | $ | (68,866 | ) | 485 | $ | — | $ | — | — | $ | 2,191,336 | $ | (68,866 | ) | ||||||||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date | ' | |||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | U.S. Government agency debentures | U.S. Treasuries | U.S. States and political subdivisions obligations | Residential mortgage-backed securities - U.S. govt. agency obligations | Commercial mortgage-backed securities - U.S. govt. agency obligations | Residential collateralized mortgage obligations - U.S. govt. agency obligations | Residential collateralized mortgage obligations - non- U.S. govt. agency issued | Commercial collateralized mortgage obligations - U.S. govt. agency obligations | Collateralized loan obligations | Corporate debt securities | Total | Weighted Average Yield | ||||||||||||||||||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||||||||||||||||||||||||||||||
Remaining maturity: | ||||||||||||||||||||||||||||||||||||||||||||||||
One year or less | $ | — | $ | — | $ | 11,238 | $ | 1,134 | $ | 16,985 | $ | 9,923 | $ | — | $ | — | $ | 16,009 | $ | — | $ | 55,289 | 3.34 | % | ||||||||||||||||||||||||
Over one year through five years | — | — | 62,611 | 820,491 | 24,214 | 1,507,289 | 8 | 142,483 | 8,509 | — | 2,565,605 | 2.23 | % | |||||||||||||||||||||||||||||||||||
Over five years through ten years | — | — | 135,495 | 196,549 | 44,499 | 80,819 | — | 39,550 | 269,447 | — | 766,359 | 2.98 | % | |||||||||||||||||||||||||||||||||||
Over ten years | — | — | 31,461 | — | — | — | — | — | — | 53,490 | 84,951 | 2 | % | |||||||||||||||||||||||||||||||||||
Fair Value | $ | — | $ | — | $ | 240,805 | $ | 1,018,174 | $ | 85,698 | $ | 1,598,031 | $ | 8 | $ | 182,033 | $ | 293,965 | $ | 53,490 | $ | 3,472,204 | 2.41 | % | ||||||||||||||||||||||||
Amortized Cost | $ | — | $ | — | $ | 233,228 | $ | 998,698 | $ | 86,870 | $ | 1,627,871 | $ | 8 | $ | 182,151 | $ | 297,334 | $ | 61,624 | $ | 3,487,784 | ||||||||||||||||||||||||||
Weighted-Average Yield | — | % | — | % | 5.21 | % | 2.63 | % | 2.08 | % | 1.96 | % | 3.64 | % | 1.82 | % | 2.66 | % | 0.95 | % | 2.41 | % | ||||||||||||||||||||||||||
Weighted-Average Maturity | — | — | 6.46 | 4 | 4.12 | 3.89 | 1.74 | 3.97 | 6.4 | 13.31 | 4.49 | |||||||||||||||||||||||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||||||||||||||||||||||||||||||
Remaining maturity: | ||||||||||||||||||||||||||||||||||||||||||||||||
One year or less | $ | — | $ | 5,005 | $ | 99,753 | $ | — | $ | 6,380 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 111,138 | 1.49 | % | ||||||||||||||||||||||||
Over one year through five years | — | — | 66,844 | 496,849 | 15,075 | 1,283,181 | — | 120,997 | — | 92,958 | 2,075,904 | 1.86 | % | |||||||||||||||||||||||||||||||||||
Over five years through ten years | 24,293 | — | 204,954 | 129,648 | 34,296 | 113,149 | — | 121,366 | — | — | 627,705 | 2.73 | % | |||||||||||||||||||||||||||||||||||
Over ten years | — | — | 187,118 | — | — | — | — | — | — | — | 187,119 | 5.58 | % | |||||||||||||||||||||||||||||||||||
Fair Value | $ | 24,293 | $ | 5,005 | $ | 558,669 | $ | 626,497 | $ | 55,751 | $ | 1,396,330 | $ | — | $ | 242,363 | $ | — | $ | 92,958 | $ | 3,001,866 | 2.25 | % | ||||||||||||||||||||||||
Amortized Cost | $ | 25,000 | $ | 5,000 | $ | 549,850 | $ | 624,605 | $ | 56,020 | $ | 1,450,479 | $ | — | $ | 248,974 | $ | — | $ | 92,190 | $ | 3,052,118 | ||||||||||||||||||||||||||
Weighted-Average Yield | 1.43 | % | 0.26 | % | 4.8 | % | 2.15 | % | 1.98 | % | 1.6 | % | — | % | 2.28 | % | — | % | 2.24 | % | 2.25 | % | ||||||||||||||||||||||||||
Weighted-Average Maturity | 5.33 | 0.58 | 10.03 | 4.71 | 4.77 | 4.18 | — | 5.01 | — | 3.53 | 5.02 | |||||||||||||||||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | ' | |||||||||||||||||||||||||||||||
Loans outstanding as of June 30, 2014, December 31, 2013, and June 30, 2013, net of unearned income, consisted of the following: | ||||||||||||||||||||||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | |||||||||||||||||||||||||||||
Originated loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 7,365,499 | $ | 6,648,279 | $ | 5,997,812 | ||||||||||||||||||||||||||
Residential mortgage | 580,166 | 529,253 | 462,427 | |||||||||||||||||||||||||||||
Installment | 2,051,587 | 1,727,925 | 1,496,663 | |||||||||||||||||||||||||||||
Home equity | 998,179 | 920,066 | 845,051 | |||||||||||||||||||||||||||||
Credit cards | 151,967 | 148,313 | 142,319 | |||||||||||||||||||||||||||||
Leases | 319,795 | 239,551 | 188,353 | |||||||||||||||||||||||||||||
Total originated loans | 11,467,193 | 10,213,387 | 9,132,625 | |||||||||||||||||||||||||||||
Allowance for originated loan losses | (91,950 | ) | (96,484 | ) | (98,645 | ) | ||||||||||||||||||||||||||
Net originated loans | $ | 11,375,243 | $ | 10,116,903 | $ | 9,033,980 | ||||||||||||||||||||||||||
Acquired loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 1,457,903 | $ | 1,725,970 | $ | 2,267,811 | ||||||||||||||||||||||||||
Residential mortgage | 425,584 | 470,652 | 439,380 | |||||||||||||||||||||||||||||
Installment | 872,034 | 1,004,569 | 1,221,060 | |||||||||||||||||||||||||||||
Home equity | 268,266 | 294,424 | 322,111 | |||||||||||||||||||||||||||||
Total acquired loans | 3,023,787 | 3,495,615 | 4,250,362 | |||||||||||||||||||||||||||||
Allowance for acquired loan losses | (4,977 | ) | (741 | ) | — | |||||||||||||||||||||||||||
Net acquired loans | $ | 3,018,810 | $ | 3,494,874 | $ | 4,250,362 | ||||||||||||||||||||||||||
Covered loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 292,782 | $ | 375,860 | $ | 505,706 | ||||||||||||||||||||||||||
Residential mortgage | 46,705 | 50,679 | 56,056 | |||||||||||||||||||||||||||||
Installment | 5,364 | 6,162 | 7,794 | |||||||||||||||||||||||||||||
Home equity | 89,815 | 97,442 | 106,970 | |||||||||||||||||||||||||||||
Loss share receivable | 43,981 | 61,827 | 83,910 | |||||||||||||||||||||||||||||
Total covered loans | 478,647 | 591,970 | 760,436 | |||||||||||||||||||||||||||||
Allowance for covered loan losses | (45,109 | ) | (44,027 | ) | (49,069 | ) | ||||||||||||||||||||||||||
Net covered loans | $ | 433,538 | $ | 547,943 | $ | 711,367 | ||||||||||||||||||||||||||
Total loans: | ||||||||||||||||||||||||||||||||
Commercial | $ | 9,116,184 | $ | 8,750,109 | $ | 8,771,329 | ||||||||||||||||||||||||||
Residential mortgage | 1,052,455 | 1,050,584 | 957,863 | |||||||||||||||||||||||||||||
Installment | 2,928,985 | 2,738,656 | 2,725,517 | |||||||||||||||||||||||||||||
Home equity | 1,356,260 | 1,311,932 | 1,274,132 | |||||||||||||||||||||||||||||
Credit cards | 151,967 | 148,313 | 142,319 | |||||||||||||||||||||||||||||
Leases | 319,795 | 239,551 | 188,353 | |||||||||||||||||||||||||||||
Loss share receivable | 43,981 | 61,827 | 83,910 | |||||||||||||||||||||||||||||
Total loans | 14,969,627 | 14,300,972 | 14,143,423 | |||||||||||||||||||||||||||||
Total allowance for loan losses | (142,036 | ) | (141,252 | ) | (147,714 | ) | ||||||||||||||||||||||||||
Total Net loans | $ | 14,827,591 | $ | 14,159,720 | $ | 13,995,709 | ||||||||||||||||||||||||||
Changes in Carrying Amount of Accretable Yield for Purchased Loans Acquisition Date | ' | |||||||||||||||||||||||||||||||
Total outstanding acquired impaired loans as of June 30, 2014 and 2013 were $714.2 million and $1.0 billion, respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged off. Changes in the carrying amount and accretable yield for acquired impaired loans were as follows for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
Acquired Impaired Loans | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
(In thousands) | Accretable Yield | Carrying Amount of Loans | Accretable Yield | Carrying Amount of Loans | Accretable Yield | Carrying Amount of Loans | Accretable Yield | Carrying Amount of Loans | ||||||||||||||||||||||||
Balance at beginning of period | $ | 142,284 | $ | 557,199 | $ | — | $ | — | $ | 136,646 | $ | 601,000 | $ | — | $ | — | ||||||||||||||||
Additions due to Citizens acquisition on April 12, 2013 | — | — | 131,558 | 819,715 | — | — | 131,558 | 819,715 | ||||||||||||||||||||||||
Accretion | (12,746 | ) | 12,746 | (9,090 | ) | 9,090 | (24,487 | ) | 24,487 | (9,090 | ) | 9,090 | ||||||||||||||||||||
Net reclassifications from nonaccretable to accretable | 10,499 | — | — | — | 30,013 | — | — | — | ||||||||||||||||||||||||
Payments received, net | — | (50,695 | ) | — | (76,123 | ) | — | (106,237 | ) | — | (76,123 | ) | ||||||||||||||||||||
Disposals | $ | (2,595 | ) | $ | — | $ | (2,401 | ) | $ | — | $ | (4,730 | ) | $ | — | $ | (2,401 | ) | $ | — | ||||||||||||
Balance at end of period | $ | 137,442 | $ | 519,250 | $ | 120,067 | $ | 752,682 | $ | 137,442 | $ | 519,250 | $ | 120,067 | $ | 752,682 | ||||||||||||||||
Changes in Loss Share Receivable Associated with Covered Loans | ' | |||||||||||||||||||||||||||||||
Changes in the loss share receivable associated with covered loans for the three and six months ended June 30, 2014 and 2013 were as follows: | ||||||||||||||||||||||||||||||||
Loss Share Receivable | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 54,748 | $ | 95,593 | $ | 61,827 | $ | 113,734 | ||||||||||||||||||||||||
Amortization | (4,185 | ) | (5,998 | ) | (10,048 | ) | (14,101 | ) | ||||||||||||||||||||||||
Increase/(decrease) due to impairment (recapture) on covered loans | (3,897 | ) | 2,319 | 927 | 7,858 | |||||||||||||||||||||||||||
FDIC reimbursement | (1,237 | ) | (5,397 | ) | (6,324 | ) | (15,947 | ) | ||||||||||||||||||||||||
Covered loans paid in full | (1,448 | ) | (2,607 | ) | (2,401 | ) | (7,634 | ) | ||||||||||||||||||||||||
Balance at end of the period | $ | 43,981 | $ | 83,910 | $ | 43,981 | $ | 83,910 | ||||||||||||||||||||||||
Changes in Carrying Amount of Accretable Yield for Covered Impaired Loans | ' | |||||||||||||||||||||||||||||||
Total outstanding covered impaired loans were $637.6 million and $915.4 million as of June 30, 2014 and 2013, respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged off. Changes in the carrying amount and accretable yield for covered impaired loans were as follows for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
Covered Impaired Loans | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
(In thousands) | Accretable | Carrying | Accretable | Carrying | Accretable | Carrying | Accretable | Carrying | ||||||||||||||||||||||||
Yield | Amount of | Yield | Amount of | Yield | Amount of | Yield | Amount of | |||||||||||||||||||||||||
Loans | Loans | Loans | Loans | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 63,003 | $ | 364,488 | $ | 102,130 | $ | 656,670 | $ | 67,282 | $ | 403,692 | $ | 113,288 | $ | 762,386 | ||||||||||||||||
Accretion | (12,139 | ) | 12,139 | (17,757 | ) | 17,757 | (24,755 | ) | 24,755 | (37,271 | ) | 37,271 | ||||||||||||||||||||
Net reclassifications from non-accretable to accretable | 5,549 | — | 5,413 | — | 11,606 | — | 15,982 | — | ||||||||||||||||||||||||
Payments received, net | — | (60,146 | ) | — | (137,170 | ) | — | (111,966 | ) | — | (262,400 | ) | ||||||||||||||||||||
Disposals | (2,758 | ) | — | (8,027 | ) | — | (478 | ) | — | (10,241 | ) | — | ||||||||||||||||||||
Balance at end of period | $ | 53,655 | $ | 316,481 | $ | 81,758 | $ | 537,257 | $ | 53,655 | $ | 316,481 | $ | 81,758 | $ | 537,257 | ||||||||||||||||
Past Due Financing Receivables | ' | |||||||||||||||||||||||||||||||
The following tables provide a summary of loans by portfolio type, including the delinquency status of those loans that continue to accrue interest and those loans that are nonaccrual: | ||||||||||||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||||||
(In thousands) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Originated Loans | Days Past Due | Total | Total | Past Due and | Nonaccrual | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (a) | Loans | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 1,094 | $ | 1,087 | $ | 6,029 | $ | 8,210 | $ | 4,849,405 | $ | 4,857,615 | $ | 80 | $ | 9,991 | ||||||||||||||||
CRE | 2,010 | 1,934 | 14,333 | 18,277 | 2,079,741 | 2,098,018 | 6,633 | 11,028 | ||||||||||||||||||||||||
Construction | — | — | — | — | 409,866 | 409,866 | — | 53 | ||||||||||||||||||||||||
Leases | 103 | — | — | 103 | 319,692 | 319,795 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 11,205 | 3,164 | 4,041 | 18,410 | 2,033,177 | 2,051,587 | 3,505 | 3,334 | ||||||||||||||||||||||||
Home Equity Lines | 1,549 | 604 | 815 | 2,968 | 995,211 | 998,179 | 535 | 1,329 | ||||||||||||||||||||||||
Credit Cards | 677 | 385 | 510 | 1,572 | 150,395 | 151,967 | 258 | 446 | ||||||||||||||||||||||||
Residential Mortgages | 13,087 | 1,820 | 7,527 | 22,434 | 557,732 | 580,166 | 4,632 | 10,560 | ||||||||||||||||||||||||
Total | $ | 29,725 | $ | 8,994 | $ | 33,255 | $ | 71,974 | $ | 11,395,219 | $ | 11,467,193 | $ | 15,643 | $ | 36,741 | ||||||||||||||||
Acquired Loans | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 1,164 | $ | 511 | $ | 4,239 | $ | 5,914 | $ | 654,347 | $ | 660,261 | $ | 40 | $ | 787 | ||||||||||||||||
CRE | 1,678 | 1,162 | 23,604 | 26,444 | 757,299 | 783,743 | — | 1,736 | ||||||||||||||||||||||||
Construction | — | — | 666 | 666 | 13,233 | 13,899 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 6,148 | 1,859 | 1,296 | 9,303 | 862,731 | 872,034 | 1,021 | 419 | ||||||||||||||||||||||||
Home Equity Lines | 5,417 | 3,089 | 1,989 | 10,495 | 257,771 | 268,266 | 643 | 534 | ||||||||||||||||||||||||
Residential Mortgages | 158 | 1,372 | 7,298 | 8,828 | 416,756 | 425,584 | 847 | 1,506 | ||||||||||||||||||||||||
Total | $ | 14,565 | $ | 7,993 | $ | 39,092 | $ | 61,650 | $ | 2,962,137 | $ | 3,023,787 | $ | 2,551 | $ | 4,982 | ||||||||||||||||
Covered Loans (b) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 2,929 | $ | — | $ | 6,893 | $ | 9,822 | $ | 46,601 | $ | 56,423 | n/a | n/a | ||||||||||||||||||
CRE | 643 | 1,702 | 79,916 | 82,261 | 134,995 | 217,256 | n/a | n/a | ||||||||||||||||||||||||
Construction | — | — | 17,278 | 17,278 | 1,823 | 19,101 | n/a | n/a | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 25 | 163 | 44 | 232 | 5,132 | 5,364 | n/a | n/a | ||||||||||||||||||||||||
Home Equity Lines | 579 | 540 | 2,036 | 3,155 | 86,661 | 89,816 | n/a | n/a | ||||||||||||||||||||||||
Residential Mortgages | 7,141 | 381 | 5,356 | 12,878 | 33,828 | 46,706 | n/a | n/a | ||||||||||||||||||||||||
Total | $ | 11,317 | $ | 2,786 | $ | 111,523 | $ | 125,626 | $ | 309,040 | $ | 434,666 | n/a | n/a | ||||||||||||||||||
(a) Installment loans 90 days or more past due and accruing include $2.5 million of loans guaranteed by the U.S. government as of June 30, 2014. | ||||||||||||||||||||||||||||||||
(b) Excludes loss share receivable of $44.0 million as of June 30, 2014. | ||||||||||||||||||||||||||||||||
(c) Acquired and covered impaired loans were not classified as nonperforming assets at June 30, 2014 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and covered impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and covered impaired loans. | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Originated Loans | Days Past Due | Total | Total | Past Due and | Nonaccrual | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (a) | Loans | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 8,941 | $ | 994 | $ | 10,622 | $ | 20,557 | $ | 4,119,010 | $ | 4,139,567 | $ | 151 | $ | 11,323 | ||||||||||||||||
CRE | 4,507 | 2,400 | 9,688 | 16,595 | 2,153,192 | 2,169,787 | 460 | 14,229 | ||||||||||||||||||||||||
Construction | 351 | 21 | 66 | 438 | 338,487 | 338,925 | — | 122 | ||||||||||||||||||||||||
Leases | 902 | — | — | 902 | 238,649 | 239,551 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 15,433 | 4,050 | 4,462 | 23,945 | 1,703,980 | 1,727,925 | 3,735 | 3,681 | ||||||||||||||||||||||||
Home Equity Lines | 1,864 | 918 | 965 | 3,747 | 916,319 | 920,066 | 418 | 1,819 | ||||||||||||||||||||||||
Credit Cards | 729 | 471 | 735 | 1,935 | 146,378 | 148,313 | 404 | 558 | ||||||||||||||||||||||||
Residential Mortgages | 19,858 | 2,072 | 9,350 | 31,280 | 497,973 | 529,253 | 6,008 | 10,471 | ||||||||||||||||||||||||
Total | $ | 52,585 | $ | 10,926 | $ | 35,888 | $ | 99,399 | $ | 10,113,988 | $ | 10,213,387 | $ | 11,176 | $ | 42,203 | ||||||||||||||||
Acquired Loans | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing ( c ) | Loans ( c ) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 1,295 | $ | 862 | $ | 3,744 | $ | 5,901 | $ | 788,178 | $ | 794,079 | $ | 40 | $ | 795 | ||||||||||||||||
CRE | 5,603 | 5,281 | 26,366 | 37,250 | 881,395 | 918,645 | 403 | 651 | ||||||||||||||||||||||||
Construction | 2,675 | — | — | 2,675 | 10,571 | 13,246 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 14,528 | 4,076 | 3,354 | 21,958 | 982,611 | 1,004,569 | 2,263 | 679 | ||||||||||||||||||||||||
Home Equity Lines | 4,774 | 1,933 | 3,606 | 10,313 | 284,111 | 294,424 | 1,039 | 1,300 | ||||||||||||||||||||||||
Residential Mortgages | $ | 3,918 | $ | 1,426 | $ | 8,063 | $ | 13,407 | $ | 457,245 | $ | 470,652 | $ | 403 | $ | 582 | ||||||||||||||||
Total | $ | 32,793 | $ | 13,578 | $ | 45,133 | $ | 91,504 | $ | 3,404,111 | $ | 3,495,615 | $ | 4,148 | $ | 4,007 | ||||||||||||||||
Covered Loans (b) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 836 | $ | 1,489 | $ | 12,957 | $ | 15,282 | $ | 60,955 | $ | 76,237 | n/a | n/a | ||||||||||||||||||
CRE | 2,855 | 3,443 | 103,077 | 109,375 | 164,219 | 273,594 | n/a | n/a | ||||||||||||||||||||||||
Construction | 2,191 | 1,917 | 20,388 | 24,496 | 1,533 | 26,029 | n/a | n/a | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 33 | — | — | 33 | 6,130 | 6,163 | n/a | n/a | ||||||||||||||||||||||||
Home Equity Lines | 544 | 1,467 | 1,651 | 3,662 | 93,780 | 97,442 | n/a | n/a | ||||||||||||||||||||||||
Residential Mortgages | 7,463 | 1,565 | 5,165 | 14,193 | 36,485 | 50,678 | n/a | n/a | ||||||||||||||||||||||||
Total | $ | 13,922 | $ | 9,881 | $ | 143,238 | $ | 167,041 | $ | 363,102 | $ | 530,143 | n/a | n/a | ||||||||||||||||||
(a) Installment loans 90 days or more past due and accruing include $2.1 million of loans guaranteed by the U.S. government as of December 31, 2013. | ||||||||||||||||||||||||||||||||
(b) Excludes loss share receivable of $61.8 million as of December 31, 2013. | ||||||||||||||||||||||||||||||||
(c) Acquired and covered impaired loans were not classified as nonperforming assets at December 31, 2013 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and covered impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and covered impaired loans. | ||||||||||||||||||||||||||||||||
As of June 30, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Originated Loans | Days Past Due | Total | Total | Past Due and | Nonaccrual | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (a) | Loans | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 732 | $ | 587 | $ | 3,537 | $ | 4,856 | $ | 3,473,334 | $ | 3,478,190 | $ | 10 | $ | 9,834 | ||||||||||||||||
CRE | 7,950 | 2,413 | 11,584 | 21,947 | 2,192,910 | 2,214,857 | 1,602 | 18,954 | ||||||||||||||||||||||||
Construction | 523 | 537 | 430 | 1,490 | 303,275 | 304,765 | 348 | 147 | ||||||||||||||||||||||||
Leases | — | — | — | — | 188,353 | 188,353 | — | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 9,141 | 3,080 | 5,021 | 17,242 | 1,479,421 | 1,496,663 | 4,184 | 4,146 | ||||||||||||||||||||||||
Home Equity Lines | 1,080 | 1,048 | 1,122 | 3,250 | 841,801 | 845,051 | 710 | 1,841 | ||||||||||||||||||||||||
Credit Cards | 817 | 350 | 783 | 1,950 | 140,369 | 142,319 | 423 | 433 | ||||||||||||||||||||||||
Residential Mortgages | 13,378 | 3,733 | 7,138 | 24,249 | 438,178 | 462,427 | 4,483 | 10,108 | ||||||||||||||||||||||||
Total | $ | 33,621 | $ | 11,748 | $ | 29,615 | $ | 74,984 | $ | 9,057,641 | $ | 9,132,625 | $ | 11,760 | $ | 45,463 | ||||||||||||||||
Acquired Loans | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing ( c ) | Loans ( c ) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 607 | $ | 85 | $ | 1,914 | $ | 2,606 | $ | 1,157,738 | $ | 1,160,344 | $ | — | $ | 2,245 | ||||||||||||||||
CRE | 6,731 | 6,875 | 24,775 | 38,381 | 1,059,743 | 1,098,124 | — | 494 | ||||||||||||||||||||||||
Construction | — | — | 724 | 724 | 16,051 | 16,775 | 724 | — | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 11,576 | 2,440 | 2,252 | 16,268 | 1,204,792 | 1,221,060 | 151 | 715 | ||||||||||||||||||||||||
Home Equity Lines | 4,785 | 1,579 | 2,404 | 8,768 | 313,427 | 322,195 | — | 5,396 | ||||||||||||||||||||||||
Residential Mortgages | 14,460 | 4,036 | 7,591 | 26,087 | 414,307 | 440,394 | 45 | 77 | ||||||||||||||||||||||||
Total | $ | 38,159 | $ | 15,015 | $ | 39,660 | $ | 92,834 | $ | 4,166,058 | $ | 4,258,892 | $ | 920 | $ | 8,927 | ||||||||||||||||
Covered Loans (b) | ≥ 90 Days | |||||||||||||||||||||||||||||||
Days Past Due | Total | Total | Past Due and | Nonaccrual | ||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | Past Due | Current | Loans | Accruing (c) | Loans (c) | |||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
C&I | $ | 4,451 | $ | 497 | $ | 13,693 | $ | 18,641 | $ | 67,290 | $ | 85,931 | n/a | n/a | ||||||||||||||||||
CRE | 5,751 | 10,666 | 145,368 | 161,785 | 220,306 | 382,091 | n/a | n/a | ||||||||||||||||||||||||
Construction | 1,308 | — | 32,183 | 33,491 | 4,194 | 37,685 | n/a | n/a | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||
Installment | 17 | 54 | — | 71 | 7,723 | 7,794 | n/a | n/a | ||||||||||||||||||||||||
Home Equity Lines | 1,027 | 153 | 1,834 | 3,014 | 103,955 | 106,969 | n/a | n/a | ||||||||||||||||||||||||
Residential Mortgages | 8,760 | 1,538 | 8,090 | 18,388 | 37,668 | 56,056 | n/a | n/a | ||||||||||||||||||||||||
Total | $ | 21,314 | $ | 12,908 | $ | 201,168 | $ | 235,390 | $ | 441,136 | $ | 676,526 | n/a | n/a | ||||||||||||||||||
(a) Installment loans 90 days or more past due and accruing include $3.1 million of loans guaranteed by the U.S. government as of June 30, 2013. | ||||||||||||||||||||||||||||||||
(b) Excludes loss share receivable of $83.9 million as of June 30, 2013. | ||||||||||||||||||||||||||||||||
(c) Acquired and covered impaired loans were not classified as nonperforming assets at June 30, 2013 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and covered impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and covered impaired loans | ||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||||||
The following tables provide a summary of commercial loans by portfolio type and the Corporation's internal credit quality rating: | ||||||||||||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Originated Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 33,855 | $ | — | $ | — | $ | 9,408 | ||||||||||||||||||||||||
Grade 2 | 134,682 | 3,610 | — | 10,971 | ||||||||||||||||||||||||||||
Grade 3 | 1,100,807 | 290,652 | 36,954 | 55,648 | ||||||||||||||||||||||||||||
Grade 4 | 3,439,210 | 1,725,808 | 371,488 | 236,324 | ||||||||||||||||||||||||||||
Grade 5 | 100,776 | 29,382 | — | 7,092 | ||||||||||||||||||||||||||||
Grade 6 | 48,285 | 48,566 | 1,424 | 352 | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 4,857,615 | $ | 2,098,018 | $ | 409,866 | $ | 319,795 | ||||||||||||||||||||||||
Acquired Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 700 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | 35,608 | 26,652 | — | — | ||||||||||||||||||||||||||||
Grade 4 | 553,293 | 651,011 | 13,899 | — | ||||||||||||||||||||||||||||
Grade 5 | 41,213 | 50,267 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 29,447 | 55,813 | — | — | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 660,261 | $ | 783,743 | $ | 13,899 | $ | — | ||||||||||||||||||||||||
Covered Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 1,015 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 4 | 38,892 | 104,455 | 707 | — | ||||||||||||||||||||||||||||
Grade 5 | 999 | 3,984 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 15,517 | 108,637 | 18,045 | — | ||||||||||||||||||||||||||||
Grade 7 | — | 180 | 349 | — | ||||||||||||||||||||||||||||
Total | $ | 56,423 | $ | 217,256 | $ | 19,101 | $ | — | ||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Originated Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 34,909 | $ | 241 | $ | — | $ | 9,271 | ||||||||||||||||||||||||
Grade 2 | 108,709 | 3,730 | — | 2,900 | ||||||||||||||||||||||||||||
Grade 3 | 802,624 | 315,150 | 25,632 | 54,446 | ||||||||||||||||||||||||||||
Grade 4 | 3,083,458 | 1,759,383 | 306,795 | 167,022 | ||||||||||||||||||||||||||||
Grade 5 | 71,857 | 34,969 | 267 | 5,750 | ||||||||||||||||||||||||||||
Grade 6 | 38,010 | 56,314 | 6,231 | 162 | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 4,139,567 | $ | 2,169,787 | $ | 338,925 | $ | 239,551 | ||||||||||||||||||||||||
Acquired Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 1,741 | 703 | — | — | ||||||||||||||||||||||||||||
Grade 3 | 79,634 | 29,224 | — | — | ||||||||||||||||||||||||||||
Grade 4 | 643,495 | 722,307 | 13,246 | — | ||||||||||||||||||||||||||||
Grade 5 | 46,807 | 93,499 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 22,402 | 72,912 | — | — | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 794,079 | $ | 918,645 | $ | 13,246 | $ | — | ||||||||||||||||||||||||
Covered Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 968 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 4 | 41,115 | 113,863 | 601 | — | ||||||||||||||||||||||||||||
Grade 5 | 427 | 6,219 | — | — | ||||||||||||||||||||||||||||
Grade 6 | 31,621 | 153,318 | 23,208 | — | ||||||||||||||||||||||||||||
Grade 7 | 2,106 | 194 | 2,220 | — | ||||||||||||||||||||||||||||
Total | $ | 76,237 | $ | 273,594 | $ | 26,029 | $ | — | ||||||||||||||||||||||||
As of June 30, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Originated Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | 40,185 | $ | 1,250 | $ | — | $ | 12,815 | ||||||||||||||||||||||||
Grade 2 | 124,748 | 3,859 | — | 709 | ||||||||||||||||||||||||||||
Grade 3 | 721,517 | 297,052 | 19,119 | 36,743 | ||||||||||||||||||||||||||||
Grade 4 | 2,483,972 | 1,826,543 | 282,034 | 134,834 | ||||||||||||||||||||||||||||
Grade 5 | 41,698 | 32,705 | 1,363 | 3,042 | ||||||||||||||||||||||||||||
Grade 6 | 66,070 | 53,448 | 2,249 | 210 | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 8 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 3,478,190 | $ | 2,214,857 | $ | 304,765 | $ | 188,353 | ||||||||||||||||||||||||
Acquired Loans | ||||||||||||||||||||||||||||||||
Acquired Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 107 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | 24,511 | 28,509 | — | — | ||||||||||||||||||||||||||||
Grade 4 | 1,050,350 | 848,214 | 15,558 | — | ||||||||||||||||||||||||||||
Grade 5 | 58,399 | 125,154 | 1,217 | — | ||||||||||||||||||||||||||||
Grade 6 | 26,977 | 96,247 | — | — | ||||||||||||||||||||||||||||
Grade 7 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 8 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 1,160,344 | $ | 1,098,124 | $ | 16,775 | $ | — | ||||||||||||||||||||||||
Covered Commercial Loans | ||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | |||||||||||||||||||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Grade 2 | 1,001 | — | — | — | ||||||||||||||||||||||||||||
Grade 3 | — | — | — | — | ||||||||||||||||||||||||||||
Grade 4 | 44,148 | 131,889 | 556 | — | ||||||||||||||||||||||||||||
Grade 5 | 661 | 24,255 | 1,364 | — | ||||||||||||||||||||||||||||
Grade 6 | 38,065 | 224,533 | 33,856 | — | ||||||||||||||||||||||||||||
Grade 7 | 2,056 | 1,414 | 1,909 | — | ||||||||||||||||||||||||||||
Grade 8 | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 85,931 | $ | 382,091 | $ | 37,685 | $ | — | ||||||||||||||||||||||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Allowance for loan losses [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent | ' | ||||||||||||||||||||||||||||||||||||
The following tables show activity in the originated ALL, by portfolio segment for the three and six months ended June 30, 2014 and 2013, as well as the corresponding recorded investment in originated loans at the end of the period: | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Originated Loans | C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | ||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 40,175 | $ | 13,385 | $ | 1,470 | $ | 1,027 | $ | 11,604 | $ | 13,160 | $ | 6,851 | $ | 4,444 | $ | 92,116 | |||||||||||||||||||
Charge-offs | (361 | ) | (2,696 | ) | — | — | (4,076 | ) | (1,870 | ) | (1,311 | ) | (834 | ) | (11,148 | ) | |||||||||||||||||||||
Recoveries | 372 | 30 | 2 | 372 | 2,741 | 966 | 439 | 67 | 4,989 | ||||||||||||||||||||||||||||
Provision for loan losses | 3,070 | (1,989 | ) | (149 | ) | (371 | ) | 1,974 | 1,647 | 1,349 | 462 | 5,993 | |||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 43,256 | $ | 8,730 | $ | 1,323 | $ | 1,028 | $ | 12,243 | $ | 13,903 | $ | 7,328 | $ | 4,139 | $ | 91,950 | |||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 42,981 | $ | 12,265 | $ | 2,810 | $ | 1,081 | $ | 11,935 | $ | 12,900 | $ | 7,740 | $ | 4,772 | $ | 96,484 | |||||||||||||||||||
Charge-offs | (5,435 | ) | (2,775 | ) | — | — | (8,660 | ) | (3,279 | ) | (2,766 | ) | (1,393 | ) | (24,308 | ) | |||||||||||||||||||||
Recoveries | 1,369 | 34 | 30 | 372 | 5,490 | 1,870 | 857 | 105 | 10,127 | ||||||||||||||||||||||||||||
Provision for loan losses | 4,341 | (794 | ) | (1,517 | ) | (425 | ) | 3,478 | 2,412 | 1,497 | 655 | 9,647 | |||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 43,256 | $ | 8,730 | $ | 1,323 | $ | 1,028 | $ | 12,243 | $ | 13,903 | $ | 7,328 | $ | 4,139 | $ | 91,950 | |||||||||||||||||||
Ending allowance for originated loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,092 | $ | 112 | $ | 9 | $ | — | $ | 1,008 | $ | 201 | $ | 361 | $ | 1,019 | $ | 7,802 | |||||||||||||||||||
Collectively evaluated for impairment | 38,164 | 8,618 | 1,314 | 1,028 | 11,235 | 13,702 | 6,967 | 3,120 | 84,148 | ||||||||||||||||||||||||||||
Total ending allowance for originated loan losses balance | $ | 43,256 | $ | 8,730 | $ | 1,323 | $ | 1,028 | $ | 12,243 | $ | 13,903 | $ | 7,328 | $ | 4,139 | $ | 91,950 | |||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||||||
Originated loans individually evaluated for impairment | $ | 10,404 | $ | 25,484 | $ | 53 | $ | — | $ | 24,394 | $ | 6,956 | $ | 979 | $ | 26,297 | $ | 94,567 | |||||||||||||||||||
Originated loans collectively evaluated for impairment | 4,847,211 | 2,072,534 | 409,813 | 319,795 | 2,027,193 | 991,223 | 150,988 | 553,869 | 11,372,626 | ||||||||||||||||||||||||||||
Total ending originated loan balance | $ | 4,857,615 | $ | 2,098,018 | $ | 409,866 | $ | 319,795 | $ | 2,051,587 | $ | 998,179 | $ | 151,967 | $ | 580,166 | $ | 11,467,193 | |||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | ||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 40,427 | $ | 18,399 | $ | 2,741 | $ | 1,129 | $ | 9,151 | $ | 14,568 | $ | 7,069 | $ | 5,359 | $ | 98,843 | |||||||||||||||||||
Charge-offs | (2,000 | ) | (750 | ) | — | (1,237 | ) | (3,612 | ) | (1,497 | ) | (1,459 | ) | (414 | ) | (10,969 | ) | ||||||||||||||||||||
Recoveries | 3,528 | 203 | 31 | — | 2,739 | 599 | 469 | 51 | 7,620 | ||||||||||||||||||||||||||||
Provision for loan losses | 3,212 | (1,029 | ) | (728 | ) | 1,017 | 447 | (404 | ) | 1,209 | (573 | ) | 3,151 | ||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 45,167 | $ | 16,823 | $ | 2,044 | $ | 909 | $ | 8,725 | $ | 13,266 | $ | 7,288 | $ | 4,423 | $ | 98,645 | |||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||||||||||||
Allowance for originated loan losses, beginning balance | $ | 36,209 | $ | 20,126 | $ | 3,821 | $ | 639 | $ | 11,154 | $ | 13,724 | $ | 7,384 | $ | 5,885 | $ | 98,942 | |||||||||||||||||||
Charge-offs | (4,103 | ) | (803 | ) | (516 | ) | (1,237 | ) | (8,206 | ) | (3,334 | ) | (2,862 | ) | (684 | ) | (21,745 | ) | |||||||||||||||||||
Recoveries | 4,583 | 335 | 89 | 89 | 5,235 | 1,082 | 982 | 94 | 12,489 | ||||||||||||||||||||||||||||
Provision for loan losses | 8,478 | (2,835 | ) | (1,350 | ) | 1,418 | 542 | 1,794 | 1,784 | (872 | ) | 8,959 | |||||||||||||||||||||||||
Allowance for originated loan losses, ending balance | $ | 45,167 | $ | 16,823 | $ | 2,044 | $ | 909 | $ | 8,725 | $ | 13,266 | $ | 7,288 | $ | 4,423 | $ | 98,645 | |||||||||||||||||||
Ending allowance for originated loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,169 | $ | 1,010 | $ | — | $ | — | $ | 557 | $ | 197 | $ | 255 | $ | 1,280 | $ | 6,468 | |||||||||||||||||||
Collectively evaluated for impairment | 41,998 | 15,813 | 2,044 | 909 | 8,168 | 13,069 | 7,033 | 3,143 | 92,177 | ||||||||||||||||||||||||||||
Total ending allowance for originated loan losses balance | $ | 45,167 | $ | 16,823 | $ | 2,044 | $ | 909 | $ | 8,725 | $ | 13,266 | $ | 7,288 | $ | 4,423 | $ | 98,645 | |||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||||||
Originated loans individually evaluated for impairment | $ | 9,439 | $ | 24,400 | $ | 1,005 | $ | — | $ | 30,140 | $ | 6,819 | $ | 1,262 | $ | 23,221 | $ | 96,286 | |||||||||||||||||||
Originated loans collectively evaluated for impairment | 3,468,751 | 2,190,457 | 303,760 | 188,353 | 1,466,523 | 838,232 | 141,057 | 439,206 | 9,036,339 | ||||||||||||||||||||||||||||
Total ending originated loan balance | $ | 3,478,190 | $ | 2,214,857 | $ | 304,765 | $ | 188,353 | $ | 1,496,663 | $ | 845,051 | $ | 142,319 | $ | 462,427 | $ | 9,132,625 | |||||||||||||||||||
The following table presents the originated ALL and the recorded investment as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | ||||||||||||||||||||||||||||
Ending allowance for originated loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,235 | $ | 229 | $ | — | $ | — | $ | 1,014 | $ | 223 | $ | 312 | $ | 1,133 | $ | 6,146 | |||||||||||||||||||
Collectively evaluated for impairment | 39,746 | 12,036 | 2,810 | 1,081 | 10,921 | 12,677 | 7,428 | 3,639 | 90,338 | ||||||||||||||||||||||||||||
Total ending allowance for originated loan losses balance | $ | 42,981 | $ | 12,265 | $ | 2,810 | $ | 1,081 | $ | 11,935 | $ | 12,900 | $ | 7,740 | $ | 4,772 | $ | 96,484 | |||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 8,053 | $ | 20,616 | $ | 906 | $ | — | $ | 27,285 | $ | 6,726 | $ | 1,112 | $ | 23,066 | $ | 87,764 | |||||||||||||||||||
Loans collectively evaluated for impairment | 4,131,514 | 2,149,171 | 338,019 | 239,551 | 1,700,640 | 913,340 | 147,201 | 506,187 | 10,125,623 | ||||||||||||||||||||||||||||
Total ending originated loan balance | $ | 4,139,567 | $ | 2,169,787 | $ | 338,925 | $ | 239,551 | $ | 1,727,925 | $ | 920,066 | $ | 148,313 | $ | 529,253 | $ | 10,213,387 | |||||||||||||||||||
allowance for acquired impaired loan losses | ' | ||||||||||||||||||||||||||||||||||||
The following table presents activity in the allowance for acquired impaired loan losses for the three and six months ended June 30, 2014. There was no allowance for acquired impaired loans as of June 30, 2013. | |||||||||||||||||||||||||||||||||||||
Allowance for Acquired Impaired Loan Losses | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2014 | |||||||||||||||||||||||||||||||||||
Balance at beginning of the period | $ | 2,974 | $ | 741 | |||||||||||||||||||||||||||||||||
Charge-offs | — | — | |||||||||||||||||||||||||||||||||||
Recoveries | — | — | |||||||||||||||||||||||||||||||||||
Provision for loan losses | 2,003 | 4,236 | |||||||||||||||||||||||||||||||||||
Balance at end of the period | $ | 4,977 | $ | 4,977 | |||||||||||||||||||||||||||||||||
Schedule of Credit Losses for Financing Receivables, Current | ' | ||||||||||||||||||||||||||||||||||||
The following table presents activity in the allowance for covered impaired loan losses for the three and six months ended June 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||
Allowance for Covered Impaired Loan Losses | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Balance at beginning of the period | $ | 49,970 | $ | 47,945 | $ | 44,027 | $ | 43,255 | |||||||||||||||||||||||||||||
Net provision/(recapture) of loan losses before benefit attributable to FDIC loss share agreements | (451 | ) | 6,477 | 7,428 | 16,154 | ||||||||||||||||||||||||||||||||
Net (benefit)/recapture attributable to FDIC loss share agreements | 3,897 | (2,319 | ) | (927 | ) | (7,858 | ) | ||||||||||||||||||||||||||||||
Net provision for loan losses | 3,446 | 4,158 | 6,501 | 8,296 | |||||||||||||||||||||||||||||||||
Increase (decrease) in loss share receivable | (3,897 | ) | 2,319 | 927 | 7,858 | ||||||||||||||||||||||||||||||||
Loans charged-off | (4,410 | ) | (5,353 | ) | (6,346 | ) | (10,340 | ) | |||||||||||||||||||||||||||||
Balance at end of the period | $ | 45,109 | $ | 49,069 | $ | 45,109 | $ | 49,069 | |||||||||||||||||||||||||||||
Impaired Financing Receivables | ' | ||||||||||||||||||||||||||||||||||||
The following tables provide further detail on impaired loans individually evaluated for impairment and the associated ALL. Certain impaired loans do not have a related ALL as the valuation of these impaired loans exceeded the recorded investment. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Originated Loans | Unpaid | Average | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||||||||||||||
(In thousands) | Investment | Balance | Allowance | Investment | |||||||||||||||||||||||||||||||||
Impaired loans with no related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 2,538 | $ | 4,980 | $ | — | $ | 3,543 | |||||||||||||||||||||||||||||
CRE | 20,635 | 26,026 | — | 22,249 | |||||||||||||||||||||||||||||||||
Construction | 53 | 76 | — | 256 | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 4,510 | 4,620 | — | 4,636 | |||||||||||||||||||||||||||||||||
Home equity line | 1,041 | 1,047 | — | 1,067 | |||||||||||||||||||||||||||||||||
Credit card | 34 | 34 | — | 48 | |||||||||||||||||||||||||||||||||
Residential mortgages | 12,729 | 15,748 | — | 12,828 | |||||||||||||||||||||||||||||||||
Subtotal | 41,540 | 52,531 | — | 44,627 | |||||||||||||||||||||||||||||||||
Impaired loans with a related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 7,866 | 11,562 | 5,092 | 8,071 | |||||||||||||||||||||||||||||||||
CRE | 4,849 | 4,851 | 112 | 829 | |||||||||||||||||||||||||||||||||
Construction | — | — | 9 | — | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 19,884 | 20,673 | 1,008 | 20,498 | |||||||||||||||||||||||||||||||||
Home equity line | 5,915 | 6,145 | 201 | 5,995 | |||||||||||||||||||||||||||||||||
Credit card | 945 | 945 | 361 | 1,019 | |||||||||||||||||||||||||||||||||
Residential mortgages | 13,568 | 13,678 | 1,019 | 13,612 | |||||||||||||||||||||||||||||||||
Subtotal | 53,027 | 57,854 | 7,802 | 50,024 | |||||||||||||||||||||||||||||||||
Total impaired loans | $ | 94,567 | $ | 110,385 | $ | 7,802 | $ | 94,651 | |||||||||||||||||||||||||||||
Note 1: These tables exclude loans fully charged off. | |||||||||||||||||||||||||||||||||||||
Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | Unpaid | Average | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||||||||||||||
(In thousands) | Investment | Balance | Allowance | Investment | |||||||||||||||||||||||||||||||||
Impaired loans with no related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 2,503 | $ | 6,679 | $ | — | $ | 7,256 | |||||||||||||||||||||||||||||
CRE | 17,871 | 23,709 | — | 18,639 | |||||||||||||||||||||||||||||||||
Construction | 906 | 1,179 | — | 1,035 | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 2,813 | 3,978 | — | 3,338 | |||||||||||||||||||||||||||||||||
Home equity line | 1,018 | 1,347 | — | 1,079 | |||||||||||||||||||||||||||||||||
Credit card | 49 | 49 | — | 91 | |||||||||||||||||||||||||||||||||
Residential mortgages | 10,250 | 12,778 | — | 10,258 | |||||||||||||||||||||||||||||||||
Subtotal | 35,410 | 49,719 | — | 41,696 | |||||||||||||||||||||||||||||||||
Impaired loans with a related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 5,551 | 7,428 | 3,235 | 5,009 | |||||||||||||||||||||||||||||||||
CRE | 2,744 | 2,870 | 229 | 2,836 | |||||||||||||||||||||||||||||||||
Construction | — | — | — | — | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 24,472 | 24,558 | 1,014 | 24,985 | |||||||||||||||||||||||||||||||||
Home equity line | 5,707 | 5,707 | 223 | 5,874 | |||||||||||||||||||||||||||||||||
Credit card | 1,064 | 1,064 | 312 | 1,238 | |||||||||||||||||||||||||||||||||
Residential mortgages | 12,816 | 12,898 | 1,133 | 12,064 | |||||||||||||||||||||||||||||||||
Subtotal | 52,354 | 54,525 | 6,146 | 52,006 | |||||||||||||||||||||||||||||||||
Total impaired loans | $ | 87,764 | $ | 104,244 | $ | 6,146 | $ | 93,702 | |||||||||||||||||||||||||||||
Note 1: These tables exclude loans fully charged off. | |||||||||||||||||||||||||||||||||||||
Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Originated Loans | Unpaid | Average | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||||||||||||||
(In thousands) | Investment | Balance | Allowance | Investment | |||||||||||||||||||||||||||||||||
Impaired loans with no related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,031 | $ | 3,423 | $ | — | $ | 3,075 | |||||||||||||||||||||||||||||
CRE | 17,021 | 23,892 | — | 19,143 | |||||||||||||||||||||||||||||||||
Construction | 1,005 | 1,282 | — | 2,294 | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 3,464 | 4,882 | — | 3,838 | |||||||||||||||||||||||||||||||||
Home equity line | 1,158 | 1,481 | — | 1,217 | |||||||||||||||||||||||||||||||||
Credit card | 57 | 57 | — | 76 | |||||||||||||||||||||||||||||||||
Residential mortgages | 10,682 | 13,294 | — | 10,934 | |||||||||||||||||||||||||||||||||
Subtotal | 34,418 | 48,311 | — | 40,577 | |||||||||||||||||||||||||||||||||
Impaired loans with a related allowance | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 8,408 | 11,553 | 3,169 | 10,469 | |||||||||||||||||||||||||||||||||
CRE | 7,379 | 7,416 | 1,010 | 7,558 | |||||||||||||||||||||||||||||||||
Construction | — | — | — | — | |||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 26,676 | 26,772 | 557 | 27,032 | |||||||||||||||||||||||||||||||||
Home equity line | 5,661 | 5,661 | 197 | 5,784 | |||||||||||||||||||||||||||||||||
Credit card | 1,205 | 1,205 | 255 | 1,310 | |||||||||||||||||||||||||||||||||
Residential mortgages | 12,539 | 12,611 | 1,280 | 12,578 | |||||||||||||||||||||||||||||||||
Subtotal | 61,868 | 65,218 | 6,468 | 64,731 | |||||||||||||||||||||||||||||||||
Total impaired loans | $ | 96,286 | $ | 113,529 | $ | 6,468 | $ | 105,308 | |||||||||||||||||||||||||||||
Note 1: These tables exclude loans fully charged off. | |||||||||||||||||||||||||||||||||||||
Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing ReceivableS | ' | ||||||||||||||||||||||||||||||||||||
The following tables provide the number of loans modified in a TDR and the recorded investment and unpaid principal balance by loan portfolio as of June 30, 2014, December 31, 2013, and June 30, 2013. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 41 | $ | 7,062 | $ | 13,200 | ||||||||||||||||||||||||||||||||
CRE | 60 | 21,407 | 25,567 | ||||||||||||||||||||||||||||||||||
Construction | 31 | 53 | 76 | ||||||||||||||||||||||||||||||||||
Total originated commercial | 132 | 28,522 | 38,843 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,350 | 24,394 | 25,293 | ||||||||||||||||||||||||||||||||||
Home equity lines | 260 | 6,956 | 7,192 | ||||||||||||||||||||||||||||||||||
Credit card | 253 | 979 | 979 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 326 | 26,297 | 29,426 | ||||||||||||||||||||||||||||||||||
Total originated consumer | 2,189 | 58,626 | 62,890 | ||||||||||||||||||||||||||||||||||
Total originated loans | 2,321 | $ | 87,148 | $ | 101,733 | ||||||||||||||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | $ | 4 | $ | 4 | ||||||||||||||||||||||||||||||||
CRE | 1 | 1,661 | 1,661 | ||||||||||||||||||||||||||||||||||
Total acquired commercial | 2 | 1,665 | 1,665 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 30 | 979 | 1,032 | ||||||||||||||||||||||||||||||||||
Home equity lines | 90 | 4,710 | 4,750 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 21 | 1,461 | 1,635 | ||||||||||||||||||||||||||||||||||
Total acquired consumer | 141 | 7,150 | 7,417 | ||||||||||||||||||||||||||||||||||
Total acquired loans | 143 | $ | 8,815 | $ | 9,082 | ||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 6 | $ | 177 | $ | 1,070 | ||||||||||||||||||||||||||||||||
CRE | 24 | 37,385 | 54,480 | ||||||||||||||||||||||||||||||||||
Construction | 10 | 2,605 | 21,331 | ||||||||||||||||||||||||||||||||||
Total covered commercial | 40 | 40,167 | 76,881 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 62 | 8,489 | 8,489 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 2 | 337 | 337 | ||||||||||||||||||||||||||||||||||
Total covered consumer | 64 | 8,826 | 8,826 | ||||||||||||||||||||||||||||||||||
Total covered loans | 104 | $ | 48,993 | $ | 85,707 | ||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 48 | $ | 7,243 | $ | 14,274 | ||||||||||||||||||||||||||||||||
CRE | 85 | 60,453 | 81,708 | ||||||||||||||||||||||||||||||||||
Construction | 41 | 2,658 | 21,407 | ||||||||||||||||||||||||||||||||||
Total commercial | 174 | 70,354 | 117,389 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,380 | 25,373 | 26,325 | ||||||||||||||||||||||||||||||||||
Home equity lines | 412 | 20,155 | 20,431 | ||||||||||||||||||||||||||||||||||
Credit card | 253 | 979 | 979 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 349 | 28,095 | 31,398 | ||||||||||||||||||||||||||||||||||
Total consumer | 2,394 | 74,602 | 79,133 | ||||||||||||||||||||||||||||||||||
Total loans | 2,568 | $ | 144,956 | $ | 196,522 | ||||||||||||||||||||||||||||||||
Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 35 | $ | 4,449 | $ | 7,660 | ||||||||||||||||||||||||||||||||
CRE | 52 | 15,932 | 20,569 | ||||||||||||||||||||||||||||||||||
Construction | 30 | 905 | 1,179 | ||||||||||||||||||||||||||||||||||
Total originated commercial | 117 | 21,286 | 29,408 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,553 | 27,285 | 28,536 | ||||||||||||||||||||||||||||||||||
Home equity lines | 231 | 6,725 | 7,054 | ||||||||||||||||||||||||||||||||||
Credit card | 307 | 1,113 | 1,113 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 301 | 23,067 | 25,676 | ||||||||||||||||||||||||||||||||||
Total originated consumer | 2,392 | 58,190 | 62,379 | ||||||||||||||||||||||||||||||||||
Total originated loans | 2,509 | $ | 79,476 | $ | 91,787 | ||||||||||||||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | 6 | 5 | ||||||||||||||||||||||||||||||||||
CRE | 1 | 1,730 | 1,730 | ||||||||||||||||||||||||||||||||||
Total acquired commercial | 2 | 1,736 | 1,735 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 12 | 505 | 542 | ||||||||||||||||||||||||||||||||||
Home equity lines | 8 | 245 | 270 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 7 | 431 | 502 | ||||||||||||||||||||||||||||||||||
Total acquired consumer | 27 | 1,181 | 1,314 | ||||||||||||||||||||||||||||||||||
Total acquired loans | 29 | $ | 2,917 | $ | 3,049 | ||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 4 | $ | 1,104 | $ | 2,331 | ||||||||||||||||||||||||||||||||
CRE | 24 | 39,995 | 57,008 | ||||||||||||||||||||||||||||||||||
Construction | 10 | 4,144 | 24,547 | ||||||||||||||||||||||||||||||||||
Total covered commercial | 38 | 45,243 | 83,886 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 47 | 5,401 | 5,421 | ||||||||||||||||||||||||||||||||||
Residential Mortgages | 1 | 150 | 150 | ||||||||||||||||||||||||||||||||||
Total covered consumer | 48 | 5,551 | 5,571 | ||||||||||||||||||||||||||||||||||
Total covered loans | 86 | $ | 50,794 | $ | 89,457 | ||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 40 | $ | 5,559 | $ | 9,996 | ||||||||||||||||||||||||||||||||
CRE | 77 | 57,657 | 79,307 | ||||||||||||||||||||||||||||||||||
Construction | 40 | 5,049 | 25,726 | ||||||||||||||||||||||||||||||||||
Total commercial | 157 | 68,265 | 115,029 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,565 | 27,790 | 29,078 | ||||||||||||||||||||||||||||||||||
Home equity lines | 286 | 12,371 | 12,745 | ||||||||||||||||||||||||||||||||||
Credit card | 307 | 1,113 | 1,113 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 309 | 23,648 | 26,328 | ||||||||||||||||||||||||||||||||||
Total consumer | 2,467 | 64,922 | 69,264 | ||||||||||||||||||||||||||||||||||
Total loans | 2,624 | $ | 133,187 | $ | 184,293 | ||||||||||||||||||||||||||||||||
Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 31 | $ | 7,806 | $ | 11,489 | ||||||||||||||||||||||||||||||||
CRE | 47 | 17,361 | 21,742 | ||||||||||||||||||||||||||||||||||
Construction | 31 | 1,005 | 1,282 | ||||||||||||||||||||||||||||||||||
Total originated commercial | 109 | 26,172 | 34,513 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,757 | 30,140 | 31,654 | ||||||||||||||||||||||||||||||||||
Home equity lines | 239 | 6,819 | 7,142 | ||||||||||||||||||||||||||||||||||
Credit card | 329 | 1,262 | 1,262 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 293 | 23,221 | 25,905 | ||||||||||||||||||||||||||||||||||
Total originated consumer | 2,618 | 61,442 | 65,963 | ||||||||||||||||||||||||||||||||||
Total originated loans | 2,727 | $ | 87,614 | $ | 100,476 | ||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 3 | $ | 1,635 | $ | 1,880 | ||||||||||||||||||||||||||||||||
CRE | 21 | 46,314 | 57,021 | ||||||||||||||||||||||||||||||||||
Construction | 10 | 6,082 | 26,155 | ||||||||||||||||||||||||||||||||||
Total covered commercial | 34 | 54,031 | 85,056 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 42 | 5,562 | 5,590 | ||||||||||||||||||||||||||||||||||
Total covered loans | 76 | $ | 59,593 | $ | 90,646 | ||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 34 | $ | 9,441 | $ | 13,369 | ||||||||||||||||||||||||||||||||
CRE | 68 | 63,675 | 78,763 | ||||||||||||||||||||||||||||||||||
Construction | 41 | 7,087 | 27,437 | ||||||||||||||||||||||||||||||||||
Total commercial | 143 | 80,203 | 119,569 | ||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1,757 | 30,140 | 31,654 | ||||||||||||||||||||||||||||||||||
Home equity lines | 281 | 12,381 | 12,732 | ||||||||||||||||||||||||||||||||||
Credit card | 329 | 1,262 | 1,262 | ||||||||||||||||||||||||||||||||||
Residential mortgages | 293 | 23,221 | 25,905 | ||||||||||||||||||||||||||||||||||
Total consumer | 2,660 | 67,004 | 71,553 | ||||||||||||||||||||||||||||||||||
Total loans | 2,803 | $ | 147,207 | $ | 191,122 | ||||||||||||||||||||||||||||||||
Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||||||||||||||||||||||||||||||||||
Accruing and Nonaccruing Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||||||||
The following tables provide a summary of the delinquency status of TDRs along with the specific allowance for loan loss, by loan type, as of June 30, 2014, December 31, 2013, and June 30, 2013, including TDRs that continue to accrue interest and TDRs included in nonperforming assets. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||||||||
(In thousands) | Current | Delinquent | Total | Current | Delinquent | Total | TDRs | Allowance | |||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,659 | $ | — | $ | 1,659 | $ | 3,375 | $ | 2,028 | $ | 5,403 | $ | 7,062 | $ | 2,443 | |||||||||||||||||||||
CRE | 15,387 | 1,529 | 16,916 | 1,419 | 3,072 | 4,491 | 21,407 | 93 | |||||||||||||||||||||||||||||
Construction | — | — | — | 53 | — | 53 | 53 | 9 | |||||||||||||||||||||||||||||
Total originated commercial | 17,046 | 1,529 | 18,575 | 4,847 | 5,100 | 9,947 | 28,522 | 2,545 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 21,404 | 694 | 22,098 | 2,074 | 222 | 2,296 | 24,394 | 1,008 | |||||||||||||||||||||||||||||
Home equity lines | 5,767 | 188 | 5,955 | 1,001 | — | 1,001 | 6,956 | 201 | |||||||||||||||||||||||||||||
Credit card | 857 | 86 | 943 | — | 36 | 36 | 979 | 361 | |||||||||||||||||||||||||||||
Residential mortgages | 15,256 | 2,349 | 17,605 | 5,335 | 3,357 | 8,692 | 26,297 | 1,019 | |||||||||||||||||||||||||||||
Total originated consumer | 43,284 | 3,317 | 46,601 | 8,410 | 3,615 | 12,025 | 58,626 | 2,589 | |||||||||||||||||||||||||||||
Total originated TDRs | $ | 60,330 | $ | 4,846 | $ | 65,176 | $ | 13,257 | $ | 8,715 | $ | 21,972 | $ | 87,148 | $ | 5,134 | |||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | — | — | 4 | — | 4 | 4 | 4 | |||||||||||||||||||||||||||||
CRE | 1,661 | — | 1,661 | — | — | — | 1,661 | 182 | |||||||||||||||||||||||||||||
Total acquired commercial | 1,661 | — | 1,661 | 4 | — | 4 | 1,665 | 186 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 702 | 250 | 952 | 27 | — | 27 | 979 | 14 | |||||||||||||||||||||||||||||
Home equity lines | 4,026 | 576 | 4,602 | 108 | — | 108 | 4,710 | — | |||||||||||||||||||||||||||||
Residential mortgages | 670 | — | 670 | 764 | 27 | 791 | 1,461 | — | |||||||||||||||||||||||||||||
Total acquired consumer | 5,398 | 826 | 6,224 | 899 | 27 | 926 | 7,150 | 14 | |||||||||||||||||||||||||||||
Total acquired TDRs | $ | 7,059 | $ | 826 | $ | 7,885 | $ | 903 | $ | 27 | $ | 930 | $ | 8,815 | $ | 200 | |||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | — | $ | 177 | $ | 177 | $ | — | $ | — | $ | — | $ | 177 | $ | — | |||||||||||||||||||||
CRE | 4,909 | 32,476 | 37,385 | — | — | — | 37,385 | 1,129 | |||||||||||||||||||||||||||||
Construction | 666 | 1,939 | 2,605 | — | — | — | 2,605 | 68 | |||||||||||||||||||||||||||||
Total covered commercial | 5,575 | 34,592 | 40,167 | — | — | — | 40,167 | 1,197 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 8,038 | 115 | 8,153 | 336 | — | 336 | 8,489 | — | |||||||||||||||||||||||||||||
Residential mortgages | 337 | — | 337 | — | — | — | 337 | — | |||||||||||||||||||||||||||||
Total covered consumer | 8,375 | 115 | 8,490 | 336 | — | 336 | 8,826 | — | |||||||||||||||||||||||||||||
Total covered TDRs | $ | 13,950 | $ | 34,707 | $ | 48,657 | $ | 336 | $ | — | $ | 336 | $ | 48,993 | $ | 1,197 | |||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,659 | $ | 177 | $ | 1,836 | $ | 3,379 | $ | 2,028 | $ | 5,407 | $ | 7,243 | $ | 2,447 | |||||||||||||||||||||
CRE | 21,957 | 34,005 | 55,962 | 1,419 | 3,072 | 4,491 | 60,453 | 1,404 | |||||||||||||||||||||||||||||
Construction | 666 | 1,939 | 2,605 | 53 | — | 53 | 2,658 | 77 | |||||||||||||||||||||||||||||
Total commercial | 24,282 | 36,121 | 60,403 | 4,851 | 5,100 | 9,951 | 70,354 | 3,928 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 22,106 | 944 | 23,050 | 2,101 | 222 | 2,323 | 25,373 | 1,022 | |||||||||||||||||||||||||||||
Home equity lines | 17,831 | 879 | 18,710 | 1,445 | — | 1,445 | 20,155 | 201 | |||||||||||||||||||||||||||||
Credit card | 857 | 86 | 943 | — | 36 | 36 | 979 | 361 | |||||||||||||||||||||||||||||
Residential mortgages | 16,263 | 2,349 | 18,612 | 6,099 | 3,384 | 9,483 | 28,095 | 1,019 | |||||||||||||||||||||||||||||
Total consumer | 57,057 | 4,258 | 61,315 | 9,645 | 3,642 | 13,287 | 74,602 | 2,603 | |||||||||||||||||||||||||||||
Total TDRs | $ | 81,339 | $ | 40,379 | $ | 121,718 | $ | 14,496 | $ | 8,742 | $ | 23,238 | $ | 144,956 | $ | 6,531 | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||||||||
(In thousands) | Current | Delinquent | Total | Current | Delinquent | Total | TDRs | Allowance | |||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,438 | $ | 879 | $ | 2,317 | $ | 177 | $ | 1,955 | $ | 2,132 | $ | 4,449 | $ | 665 | |||||||||||||||||||||
CRE | 10,442 | 382 | 10,824 | 1,208 | 3,900 | 5,108 | 15,932 | 32 | |||||||||||||||||||||||||||||
Construction | 848 | — | 848 | — | 57 | 57 | 905 | — | |||||||||||||||||||||||||||||
Total originated commercial | 12,728 | 1,261 | 13,989 | 1,385 | 5,912 | 7,297 | 21,286 | 697 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 23,342 | 1,238 | 24,580 | 2,483 | 222 | 2,705 | 27,285 | 1,014 | |||||||||||||||||||||||||||||
Home equity lines | 5,313 | 194 | 5,507 | 1,206 | 12 | 1,218 | 6,725 | 223 | |||||||||||||||||||||||||||||
Credit card | 1,046 | 66 | 1,112 | — | 1 | 1 | 1,113 | 312 | |||||||||||||||||||||||||||||
Residential mortgages | 12,276 | 3,327 | 15,603 | 4,360 | 3,104 | 7,464 | 23,067 | 1,133 | |||||||||||||||||||||||||||||
Total originated consumer | 41,977 | 4,825 | 46,802 | 8,049 | 3,339 | 11,388 | 58,190 | 2,682 | |||||||||||||||||||||||||||||
Total originated TDRs | $ | 54,705 | $ | 6,086 | $ | 60,791 | $ | 9,434 | $ | 9,251 | $ | 18,685 | $ | 79,476 | $ | 3,379 | |||||||||||||||||||||
Acquired loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | — | $ | — | $ | — | $ | 6 | $ | — | $ | 6 | $ | 6 | $ | — | |||||||||||||||||||||
CRE | 1,730 | — | 1,730 | — | — | — | 1,730 | — | |||||||||||||||||||||||||||||
Total acquired commercial | 1,730 | — | 1,730 | 6 | — | 6 | 1,736 | — | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 369 | 136 | 505 | — | — | — | 505 | — | |||||||||||||||||||||||||||||
Home equity lines | 182 | — | 182 | 63 | — | 63 | 245 | — | |||||||||||||||||||||||||||||
Residential mortgages | 245 | — | 245 | 32 | 154 | 186 | 431 | — | |||||||||||||||||||||||||||||
Total acquired consumer | 796 | 136 | 932 | 95 | 154 | 249 | 1,181 | — | |||||||||||||||||||||||||||||
Total acquired TDRs | $ | 2,526 | $ | 136 | $ | 2,662 | $ | 101 | $ | 154 | $ | 255 | $ | 2,917 | $ | — | |||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 362 | $ | 742 | $ | 1,104 | $ | — | $ | — | $ | — | $ | 1,104 | $ | — | |||||||||||||||||||||
CRE | 5,259 | 34,736 | 39,995 | — | — | — | 39,995 | 3,022 | |||||||||||||||||||||||||||||
Construction | 698 | 3,446 | 4,144 | — | — | — | 4,144 | 800 | |||||||||||||||||||||||||||||
Total covered commercial | 6,319 | 38,924 | 45,243 | — | — | — | 45,243 | 3,822 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 5,377 | 24 | 5,401 | — | — | — | 5,401 | — | |||||||||||||||||||||||||||||
Residential mortgages | 150 | — | 150 | — | — | — | 150 | — | |||||||||||||||||||||||||||||
Total covered consumer | 5,527 | 24 | 5,551 | — | — | — | 5,551 | — | |||||||||||||||||||||||||||||
Total covered TDRs | $ | 11,846 | $ | 38,948 | $ | 50,794 | $ | — | $ | — | $ | — | $ | 50,794 | $ | 3,822 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,800 | $ | 1,621 | $ | 3,421 | $ | 183 | $ | 1,955 | $ | 2,138 | $ | 5,559 | $ | 665 | |||||||||||||||||||||
CRE | 17,431 | 35,118 | 52,549 | 1,208 | 3,900 | 5,108 | 57,657 | 3,054 | |||||||||||||||||||||||||||||
Construction | 1,546 | 3,446 | 4,992 | — | 57 | 57 | 5,049 | 800 | |||||||||||||||||||||||||||||
Total commercial | 20,777 | 40,185 | 60,962 | 1,391 | 5,912 | 7,303 | 68,265 | 4,519 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 23,711 | 1,374 | 25,085 | 2,483 | 222 | 2,705 | 27,790 | 1,014 | |||||||||||||||||||||||||||||
Home equity lines | 10,872 | 218 | 11,090 | 1,269 | 12 | 1,281 | 12,371 | 223 | |||||||||||||||||||||||||||||
Credit card | 1,046 | 66 | 1,112 | — | 1 | 1 | 1,113 | 312 | |||||||||||||||||||||||||||||
Residential mortgages | 12,671 | 3,327 | 15,998 | 4,392 | 3,258 | 7,650 | 23,648 | 1,133 | |||||||||||||||||||||||||||||
Total consumer | 48,300 | 4,985 | 53,285 | 8,144 | 3,493 | 11,637 | 64,922 | 2,682 | |||||||||||||||||||||||||||||
Total TDRs | $ | 69,077 | $ | 45,170 | $ | 114,247 | $ | 9,535 | $ | 9,405 | $ | 18,940 | $ | 133,187 | $ | 7,201 | |||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||||||||
(In thousands) | Current | Delinquent | Total | Current | Delinquent | Total | TDRs | Allowance | |||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,021 | $ | — | $ | 1,021 | $ | 6,248 | $ | 537 | $ | 6,785 | $ | 7,806 | $ | 2,569 | |||||||||||||||||||||
CRE | 11,200 | — | 11,200 | 1,726 | 4,435 | 6,161 | 17,361 | 510 | |||||||||||||||||||||||||||||
Construction | 404 | 537 | 941 | 64 | — | 64 | 1,005 | — | |||||||||||||||||||||||||||||
Total originated commercial | 12,625 | 537 | 13,162 | 8,038 | 4,972 | 13,010 | 26,172 | 3,079 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 25,800 | 913 | 26,713 | 3,227 | 200 | 3,427 | 30,140 | 557 | |||||||||||||||||||||||||||||
Home equity lines | 5,321 | 144 | 5,465 | 1,354 | — | 1,354 | 6,819 | 197 | |||||||||||||||||||||||||||||
Credit card | 1,222 | 40 | 1,262 | — | — | — | 1,262 | 255 | |||||||||||||||||||||||||||||
Residential mortgages | 13,514 | 2,147 | 15,661 | 4,518 | 3,042 | 7,560 | 23,221 | 1,280 | |||||||||||||||||||||||||||||
Total originated consumer | 45,857 | 3,244 | 49,101 | 9,099 | 3,242 | 12,341 | 61,442 | 2,289 | |||||||||||||||||||||||||||||
Total originated TDRs | $ | 58,482 | $ | 3,781 | $ | 62,263 | $ | 17,137 | $ | 8,214 | $ | 25,351 | $ | 87,614 | $ | 5,368 | |||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 897 | $ | 738 | $ | 1,635 | $ | — | $ | — | $ | — | $ | 1,635 | $ | 518 | |||||||||||||||||||||
CRE | 5,269 | 41,045 | 46,314 | — | — | — | 46,314 | 3,749 | |||||||||||||||||||||||||||||
Construction | 1,542 | 4,540 | 6,082 | — | — | — | 6,082 | 900 | |||||||||||||||||||||||||||||
Total covered commercial | 7,708 | 46,323 | 54,031 | — | — | — | 54,031 | 5,167 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Home equity lines | 5,065 | 497 | 5,562 | — | — | — | 5,562 | — | |||||||||||||||||||||||||||||
Total covered TDRs | $ | 12,773 | $ | 46,820 | $ | 59,593 | $ | — | $ | — | $ | — | $ | 59,593 | $ | 5,167 | |||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | $ | 1,918 | $ | 738 | $ | 2,656 | $ | 6,248 | $ | 537 | $ | 6,785 | $ | 9,441 | $ | 3,087 | |||||||||||||||||||||
CRE | 16,469 | 41,045 | 57,514 | 1,726 | 4,435 | 6,161 | 63,675 | 4,259 | |||||||||||||||||||||||||||||
Construction | 1,946 | 5,077 | 7,023 | 64 | — | 64 | 7,087 | 900 | |||||||||||||||||||||||||||||
Total commercial | 20,333 | 46,860 | 67,193 | 8,038 | 4,972 | 13,010 | 80,203 | 8,246 | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 25,800 | 913 | 26,713 | 3,227 | 200 | 3,427 | 30,140 | 557 | |||||||||||||||||||||||||||||
Home equity lines | 10,386 | 641 | 11,027 | 1,354 | — | 1,354 | 12,381 | 197 | |||||||||||||||||||||||||||||
Credit card | 1,222 | 40 | 1,262 | — | — | — | 1,262 | 255 | |||||||||||||||||||||||||||||
Residential mortgages | 13,514 | 2,147 | 15,661 | 4,518 | 3,042 | 7,560 | 23,221 | 1,280 | |||||||||||||||||||||||||||||
Total consumer | 50,922 | 3,741 | 54,663 | 9,099 | 3,242 | 12,341 | 67,004 | 2,289 | |||||||||||||||||||||||||||||
Total TDRs | $ | 71,255 | $ | 50,601 | $ | 121,856 | $ | 17,137 | $ | 8,214 | $ | 25,351 | $ | 147,207 | $ | 10,535 | |||||||||||||||||||||
Schedule of Debtor Troubled Debt Restructuring, Current Period | ' | ||||||||||||||||||||||||||||||||||||
The following table provides the number of loans modified in a TDR during the previous 12 months that subsequently defaulted during the three months ended June 30, 2014, as well as the recorded investment in these restructured loans as of June 30, 2014. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | $ | 170 | ||||||||||||||||||||||||||||||||||
CRE | 1 | 363 | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total originated commercial | 2 | 533 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1 | 3 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 7 | 31 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 99 | |||||||||||||||||||||||||||||||||||
Total originated consumer | 9 | $ | 133 | ||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | — | — | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total covered commercial | — | $ | — | ||||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 1 | $ | 170 | ||||||||||||||||||||||||||||||||||
CRE | 1 | 363 | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total commercial | 2 | 533 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 1 | 3 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 7 | 31 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 99 | |||||||||||||||||||||||||||||||||||
Total consumer | 9 | 133 | |||||||||||||||||||||||||||||||||||
Total | 11 | $ | 666 | ||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 4 | $ | 1,773 | ||||||||||||||||||||||||||||||||||
CRE | 6 | 3,101 | |||||||||||||||||||||||||||||||||||
Construction | 1 | 231 | |||||||||||||||||||||||||||||||||||
Total originated commercial | 11 | 5,105 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 17 | 170 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 33 | 245 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 75 | |||||||||||||||||||||||||||||||||||
Total originated consumer | 51 | $ | 490 | ||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | 1 | — | |||||||||||||||||||||||||||||||||||
Construction | 1 | 45 | |||||||||||||||||||||||||||||||||||
Total covered commercial | 2 | $ | 45 | ||||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | 4 | $ | 1,773 | ||||||||||||||||||||||||||||||||||
CRE | 7 | 3,101 | |||||||||||||||||||||||||||||||||||
Construction | 2 | 276 | |||||||||||||||||||||||||||||||||||
Total commercial | 13 | 5,150 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 17 | 170 | |||||||||||||||||||||||||||||||||||
Home equity lines | — | — | |||||||||||||||||||||||||||||||||||
Credit card | 33 | 245 | |||||||||||||||||||||||||||||||||||
Residential mortgages | 1 | 75 | |||||||||||||||||||||||||||||||||||
Total consumer | 51 | 490 | |||||||||||||||||||||||||||||||||||
Total | 64 | $ | 5,640 | ||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||||||
Originated loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | 1 | 85 | |||||||||||||||||||||||||||||||||||
Construction | 1 | 537 | |||||||||||||||||||||||||||||||||||
Total originated commercial | 2 | 622 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 2 | 37 | |||||||||||||||||||||||||||||||||||
Home equity lines | 1 | 15 | |||||||||||||||||||||||||||||||||||
Credit card | 9 | 79 | |||||||||||||||||||||||||||||||||||
Residential mortgages | — | — | |||||||||||||||||||||||||||||||||||
Total originated consumer | 12 | $ | 131 | ||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | — | — | |||||||||||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||||||||||
Total covered commercial | — | $ | — | ||||||||||||||||||||||||||||||||||
Total loans | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
C&I | — | $ | — | ||||||||||||||||||||||||||||||||||
CRE | 1 | 85 | |||||||||||||||||||||||||||||||||||
Construction | 1 | 537 | |||||||||||||||||||||||||||||||||||
Total commercial | 2 | 622 | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||
Installment | 2 | 37 | |||||||||||||||||||||||||||||||||||
Home equity lines | 1 | 15 | |||||||||||||||||||||||||||||||||||
Credit card | 9 | 79 | |||||||||||||||||||||||||||||||||||
Residential mortgages | — | — | |||||||||||||||||||||||||||||||||||
Total consumer | 12 | 131 | |||||||||||||||||||||||||||||||||||
Total | 14 | $ | 753 | ||||||||||||||||||||||||||||||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Accumulated amortization of intangible assets | ' | |||||||||||
The Corporation has other intangible assets that are amortized, consisting of core deposit intangibles, lease intangibles and trust relationship intangibles. The following tables show the gross carrying amount, accumulated amortization, and net carrying amount of these intangible assets. | ||||||||||||
June 30, 2014 | ||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||
(In thousands) | Amount | Amortization | Amount | |||||||||
Core deposit intangibles (a) | $ | 87,533 | $ | (20,637 | ) | $ | 66,896 | |||||
Lease intangible | 618 | (538 | ) | 80 | ||||||||
Trust relationships | 14,000 | (4,090 | ) | 9,910 | ||||||||
$ | 102,253 | $ | (25,367 | ) | $ | 76,886 | ||||||
December 31, 2013 | ||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||
(In thousands) | Amount | Amortization | Amount | |||||||||
Core deposit intangibles (a) | $ | 87,533 | $ | (16,065 | ) | $ | 71,468 | |||||
Non-compete covenant | 102 | (102 | ) | — | ||||||||
Lease intangible | 618 | (520 | ) | 98 | ||||||||
Trust Relationships (b) | 14,000 | (2,811 | ) | 11,189 | ||||||||
$ | 102,253 | $ | (19,498 | ) | $ | 82,755 | ||||||
June 30, 2013 | ||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||
(In thousands) | Amount | Amortization | Amount | |||||||||
Core deposit intangibles (a) | $ | 87,533 | $ | (12,416 | ) | $ | 75,117 | |||||
Non-compete covenant | 102 | (89 | ) | 13 | ||||||||
Lease intangible | 618 | (502 | ) | 116 | ||||||||
Trust relationships (b) | 14,000 | (827 | ) | 13,173 | ||||||||
$ | 102,253 | $ | (13,834 | ) | $ | 88,419 | ||||||
Shareholders_Equity_Tables
Shareholders Equity (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||||||||
The reconciliation between basic and diluted EPS using the two-class method and treasury stock method is presented as follows: | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Basic EPS: | ||||||||||||||||
Net income | $ | 59,519 | $ | 48,450 | $ | 112,974 | $ | 85,796 | ||||||||
Less: | ||||||||||||||||
Cash dividends on 5.875% non-cumulative perpetual series A, Preferred Stock | 1,469 | 1,469 | 2,938 | 2,399 | ||||||||||||
Income allocated to participating securities | 489 | 383 | 926 | 813 | ||||||||||||
Net income attributable to common shareholders | $ | 57,561 | $ | 46,598 | $ | 109,110 | $ | 82,584 | ||||||||
Weighted average Common Stock outstanding used in basic EPS | 165,335 | 157,863 | 165,198 | 133,909 | ||||||||||||
Basic net income per common share | $ | 0.35 | $ | 0.3 | $ | 0.66 | $ | 0.62 | ||||||||
Diluted EPS: | ||||||||||||||||
Income used in diluted earnings per share calculation | $ | 57,561 | $ | 46,598 | $ | 109,110 | $ | 82,584 | ||||||||
Weighted average Common Stock outstanding used in basic EPS | 165,335 | 157,863 | 165,198 | 133,909 | ||||||||||||
Add: Common Stock equivalents: | ||||||||||||||||
Warrant and stock plans | 812 | 527 | 854 | 497 | ||||||||||||
Weighted average Common and Common Stock equivalent shares outstanding | 166,147 | 158,390 | 166,052 | 134,406 | ||||||||||||
Diluted net income per share | $ | 0.35 | $ | 0.29 | $ | 0.66 | $ | 0.61 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Lines of business results and key performance measures | ' | ||||||||||||||||||||||||||||||||||
The following tables present a summary of financial results as of and for the three and six months ended June 30, 2014 and June 30, 2013: | |||||||||||||||||||||||||||||||||||
FirstMerit | |||||||||||||||||||||||||||||||||||
Commercial | Retail | Wealth | Other | Consolidated | |||||||||||||||||||||||||||||||
June 30, 2014 | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | |||||||||||||||||||||||||
OPERATIONS: | |||||||||||||||||||||||||||||||||||
Net interest income (loss) | $ | 106,924 | $ | 211,987 | $ | 94,879 | $ | 188,129 | $ | 4,799 | $ | 9,477 | $ | (11,025 | ) | $ | (20,114 | ) | $ | 195,577 | $ | 389,479 | |||||||||||||
Provision (recapture) for loan losses | (4,874 | ) | 167 | 14,905 | 17,522 | 396 | 351 | 4,826 | 11,750 | 15,253 | 29,790 | ||||||||||||||||||||||||
Noninterest income | 26,681 | 47,987 | 25,345 | 52,381 | 14,052 | 27,516 | 6,482 | 11,947 | 72,560 | 139,831 | |||||||||||||||||||||||||
Noninterest expense | 61,230 | 123,215 | 87,603 | 183,377 | 12,370 | 25,097 | 6,197 | 5,044 | 167,400 | 336,733 | |||||||||||||||||||||||||
Net income (loss) | 50,211 | 88,784 | 11,515 | 25,747 | 3,955 | 7,504 | (6,162 | ) | (9,061 | ) | 59,519 | 112,974 | |||||||||||||||||||||||
AVERAGES: | |||||||||||||||||||||||||||||||||||
Assets | $ | 9,192,463 | $ | 9,132,758 | $ | 5,541,566 | $ | 5,495,965 | $ | 258,845 | $ | 250,279 | $ | 9,298,402 | $ | 9,337,457 | $ | 24,291,276 | $ | 24,216,459 | |||||||||||||||
FirstMerit | |||||||||||||||||||||||||||||||||||
Commercial | Retail | Wealth | Other | Consolidated | |||||||||||||||||||||||||||||||
June 30, 2013 | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | |||||||||||||||||||||||||
OPERATIONS: | |||||||||||||||||||||||||||||||||||
Net interest income (loss) | $ | 114,557 | $ | 182,947 | $ | 95,904 | $ | 145,658 | $ | 4,288 | $ | 8,441 | $ | (16,718 | ) | $ | (27,667 | ) | $ | 198,031 | $ | 309,379 | |||||||||||||
Provision (recapture) for loan losses | 2,120 | 6,886 | 2,101 | 6,174 | (42 | ) | 166 | 3,130 | 4,030 | 7,309 | 17,256 | ||||||||||||||||||||||||
Noninterest income | 20,895 | 40,127 | 33,330 | 57,718 | 12,821 | 21,131 | 2,393 | 7,856 | 69,439 | 126,832 | |||||||||||||||||||||||||
Noninterest expense | 51,891 | 94,918 | 85,512 | 138,419 | 13,832 | 24,006 | 37,653 | 37,691 | 188,888 | 295,034 | |||||||||||||||||||||||||
Net income (loss) | 52,680 | 78,569 | 26,919 | 38,074 | 2,027 | 3,379 | (33,176 | ) | (34,226 | ) | 48,450 | 85,796 | |||||||||||||||||||||||
AVERAGES: | |||||||||||||||||||||||||||||||||||
Assets | $ | 8,852,267 | $ | 7,800,594 | $ | 5,006,423 | $ | 4,016,956 | $ | 263,454 | $ | 250,206 | $ | 8,688,558 | $ | 6,846,825 | $ | 22,810,702 | $ | 18,914,581 | |||||||||||||||
Derivatives_Instruments_and_He1
Derivatives Instruments and Hedging Activities Disclosure (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments Designated as Hedging Instruments | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
At June 30, 2014, December 31, 2013, and June 30, 2013, the notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships were as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | June 30, 2013 | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | |||||||||||||||||||||||||||||||||||||
Interest rate swaps: | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair value hedges | $ | — | $ | — | $ | — | $ | — | $ | 4,632 | $ | — | $ | 102,828 | $ | 8,989 | $ | 126,637 | $ | 11,574 | $ | 136,186 | $ | 14,319 | |||||||||||||||||||||||||
(a) Included in "Other assets" on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) Included in "Other liabilities" on the Consolidated Balance Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments not Designated as Hedging Instruments | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
As of June 30, 2014, December 31, 2013, and June 30, 2013, the notional values or contractual amounts and fair value of the Corporation's derivatives not designated in hedge relationships were as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | June 30, 2013 | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | |||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 1,618,463 | $ | 47,952 | $ | 1,622,525 | $ | 46,577 | $ | 1,502,079 | $ | 47,804 | $ | 1,618,463 | $ | 47,952 | $ | 1,622,531 | $ | 46,577 | $ | 1,502,079 | $ | 47,804 | |||||||||||||||||||||||||
Mortgage loan commitments | 169,232 | 2,491 | 90,541 | 891 | 251,198 | 779 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Forward sales contracts | — | — | 40,906 | 384 | 139,093 | 4,458 | 80,161 | 545 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Credit contracts | 15,269 | — | — | — | — | — | 52,319 | 10 | 49,914 | — | 50,754 | — | |||||||||||||||||||||||||||||||||||||
Foreign exchange | 25,623 | 107 | 6,478 | 50 | 8,940 | 117 | 7,568 | 48 | 6,893 | 50 | 7,235 | 94 | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | 60,383 | — | 63,813 | — | 52,370 | — | |||||||||||||||||||||||||||||||||||||
Total | $ | 1,828,587 | $ | 50,550 | $ | 1,760,450 | $ | 47,902 | $ | 1,901,310 | $ | 53,158 | $ | 1,818,894 | $ | 48,555 | $ | 1,743,151 | $ | 46,627 | $ | 1,612,438 | $ | 47,898 | |||||||||||||||||||||||||
(a) Included in "Other assets" on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) Included in "Other liabilities" on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments, Gain (Loss) | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Gains and losses recognized in income on non-designated hedging instruments for the three and six months ended June 30, 2014 and 2013 are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives not | Location of Gain/(Loss) | Amount of Gain / (Loss) Recognized in Income on Derivatives (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
designated as hedging | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||
instruments | in Income on | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||
Derivative | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Mortgage loan commitments | Other operating income | $ | 916 | $ | (3,374 | ) | $ | 1,600 | $ | (3,622 | ) | ||||||||||||||||||||||||||||||||||||||
Forward sales contracts | Other operating income | (713 | ) | 4,742 | (929 | ) | 4,519 | ||||||||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Other operating income | 328 | (122 | ) | 107 | (313 | ) | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 531 | $ | 1,246 | $ | 778 | $ | 584 | |||||||||||||||||||||||||||||||||||||||||
Offsetting disclosure for derivatives contracts | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables illustrate the potential effect of the Corporation's derivative master netting arrangements, by type of financial instrument, on the Corporation's statement of financial position as of June 30, 2014, December 31, 2013, and June 30, 2013. The swap agreements the Corporation has in place with its commercial customers are not subject to enforceable master netting arrangements, and, therefore, are excluded from these tables. | |||||||||||||||||||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross amounts recognized | Gross amounts offset in the consolidated balance sheet | Net amounts presented in the consolidated balance sheet | Gross amounts not offset in the consolidated balance sheet | Net amount | |||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Financial instruments (a) | Collateral (b) | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | $ | 839 | $ | — | $ | 839 | $ | (839 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange | 19 | — | 19 | (19 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total derivative assets | $ | 858 | $ | — | $ | 858 | $ | (858 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - designated | $ | 8,989 | $ | — | $ | 8,989 | $ | — | $ | (8,989 | ) | $ | — | ||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | 47,114 | — | 47,114 | (839 | ) | (46,275 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Foreign exchange | 35 | — | 35 | (19 | ) | (16 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | $ | 56,138 | $ | — | $ | 56,138 | $ | (858 | ) | $ | (55,280 | ) | $ | — | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross amounts recognized | Gross amounts offset in the consolidated balance sheet | Net amounts presented in the consolidated balance sheet | Gross amounts not offset in the consolidated balance sheet | Net amount | |||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Financial instruments (a) | Collateral (b) | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | $ | 4,791 | $ | — | $ | 4,791 | $ | (4,791 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange | 4 | — | 4 | (4 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total derivative assets | $ | 4,795 | $ | — | $ | 4,795 | $ | (4,795 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - designated | $ | 11,574 | $ | — | $ | 11,574 | $ | — | $ | (11,574 | ) | $ | — | ||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | 41,787 | — | 41,787 | (4,791 | ) | (36,996 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Foreign exchange | 46 | — | 46 | (4 | ) | (42 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | $ | 53,407 | $ | — | $ | 53,407 | $ | (4,795 | ) | $ | (48,612 | ) | $ | — | |||||||||||||||||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross amounts recognized | Gross amounts offset in the consolidated balance sheet | Net amounts presented in the consolidated balance sheet | Gross amounts not offset in the consolidated balance sheet | Net amount | |||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Financial instruments (a) | Collateral (b) | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | $ | 3,010 | $ | — | $ | 3,010 | $ | (3,010 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange | 53 | — | 53 | (22 | ) | (31 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Total derivative assets | $ | 3,063 | $ | — | $ | 3,063 | $ | (3,032 | ) | $ | (31 | ) | $ | — | |||||||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps - designated | $ | 14,319 | $ | — | $ | 14,319 | $ | — | $ | (14,319 | ) | $ | — | ||||||||||||||||||||||||||||||||||||
Interest rate swaps - non-designated | 44,794 | — | 44,794 | (3,010 | ) | (41,784 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Foreign exchange | 22 | — | 22 | (22 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | $ | 59,135 | $ | — | $ | 59,135 | $ | (3,032 | ) | $ | (56,103 | ) | $ | — | |||||||||||||||||||||||||||||||||||
(a) For derivative assets, this includes any derivative liability fair values that could be offset in the event of counterparty default. For derivative liabilities, this includes any derivative asset fair values that could be offset in the event of counterparty default. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) For derivate assets, this includes the fair value of collateral received by the Corporation from the counterparty. Securities received as collateral are not included in the Consolidated Balance Sheets unless the counterparty defaults. For derivative liabilities, this includes the fair value of securities pledged by the Corporation to the counterparty. These securities are included in the Consolidated Balance Sheets unless the Corporation defaults. |
Benefit_Plans_Tables
Benefit Plans (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Net Benefit Costs | ' | |||||||||||||||
The components of net periodic benefit cost are as follows: | ||||||||||||||||
Pension Benefits | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Service cost | $ | 182 | $ | 585 | $ | 364 | $ | 1,170 | ||||||||
Interest cost | 3,584 | 2,632 | 7,168 | 5,264 | ||||||||||||
Expected return on assets | (4,009 | ) | (2,960 | ) | (8,017 | ) | (5,920 | ) | ||||||||
Amortization of unrecognized prior service costs | 698 | 117 | 1,331 | 234 | ||||||||||||
Amortization of Actuarial Gain | 804 | 1,174 | 1,513 | 2,348 | ||||||||||||
Net periodic pension cost | $ | 1,259 | $ | 1,548 | $ | 2,359 | $ | 3,096 | ||||||||
Postretirement Benefits | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Service cost | $ | 16 | $ | 25 | $ | 33 | $ | 50 | ||||||||
Interest cost | 164 | 130 | 327 | 260 | ||||||||||||
Amortization of unrecognized prior service costs | (117 | ) | (117 | ) | (234 | ) | (234 | ) | ||||||||
Amortization of Actuarial Gain | 59 | 67 | 118 | 134 | ||||||||||||
Net periodic postretirement cost | $ | 122 | $ | 105 | $ | 244 | $ | 210 | ||||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Recurring and Nonrecurring Fair Value Measurements | ' | |||||||||||||||||||||||||||||||
The following tables present the balance of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of June 30, 2014, December 31, 2013, and June 30, 2013: | ||||||||||||||||||||||||||||||||
Fair Value by Hierarchy | ||||||||||||||||||||||||||||||||
(In thousands) | 30-Jun-14 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Recurring fair value measurement | ||||||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Marketable equity securities | $ | 2,935 | $ | 2,935 | $ | — | $ | — | ||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | — | 10 | 3,271 | ||||||||||||||||||||||||||||
U.S. States and political subdivisions | 240,805 | — | 240,805 | — | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,018,174 | — | 1,018,174 | — | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 85,698 | — | 85,698 | — | ||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,598,031 | — | 1,598,031 | — | ||||||||||||||||||||||||||||
Non-agency | 8 | — | 1 | 7 | ||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 182,033 | — | 182,033 | — | ||||||||||||||||||||||||||||
Corporate debt securities | 53,490 | — | — | 53,490 | ||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | 293,965 | — | — | 293,965 | ||||||||||||||||||||||||||||
Total available for sale securities | 3,478,420 | 2,935 | 3,124,752 | 350,733 | ||||||||||||||||||||||||||||
Residential loans held for sale | 21,632 | — | 21,632 | — | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,952 | — | 47,952 | — | ||||||||||||||||||||||||||||
Mortgage loan commitments | 2,491 | — | 2,491 | — | ||||||||||||||||||||||||||||
Forward sale contracts | — | — | — | — | ||||||||||||||||||||||||||||
Foreign exchange | 107 | — | 107 | — | ||||||||||||||||||||||||||||
Total derivative assets | 50,550 | — | 50,550 | — | ||||||||||||||||||||||||||||
Total fair value of assets (a) | $ | 3,550,602 | $ | 2,935 | $ | 3,196,934 | $ | 350,733 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest rate swaps - fair value hedges | $ | 8,989 | $ | — | $ | 8,989 | $ | — | ||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,952 | — | 47,952 | — | ||||||||||||||||||||||||||||
Forward sales contracts | 545 | — | 545 | — | ||||||||||||||||||||||||||||
Foreign exchange | 48 | — | 48 | — | ||||||||||||||||||||||||||||
Credit contracts | 10 | — | 10 | — | ||||||||||||||||||||||||||||
Total derivative liabilities | 57,544 | — | 57,544 | — | ||||||||||||||||||||||||||||
True-up liability | 12,581 | — | — | 12,581 | ||||||||||||||||||||||||||||
Total fair value of liabilities (a) | $ | 70,125 | $ | — | $ | 57,544 | $ | 12,581 | ||||||||||||||||||||||||
Nonrecurring fair value measurement | ||||||||||||||||||||||||||||||||
Mortgage servicing rights (b) | $ | 21,987 | $ | — | $ | — | $ | 21,987 | ||||||||||||||||||||||||
Impaired loans (c) | 56,006 | — | — | 56,006 | ||||||||||||||||||||||||||||
Other property (d) | 17,052 | — | — | 17,052 | ||||||||||||||||||||||||||||
Other real estate covered by loss share (e) | 22,782 | — | — | 22,782 | ||||||||||||||||||||||||||||
Total fair value | $ | 117,827 | $ | — | $ | — | $ | 117,827 | ||||||||||||||||||||||||
(a) - There were no transfers between levels 1 and 2 of the fair value hierarchy during the three months ended June 30, 2014. | ||||||||||||||||||||||||||||||||
(b) - MSRs with a recorded investment of $22.2 million were reduced by a specific valuation allowance totaling $0.6 million to a reported carrying value of $21.6 million resulting in recognition of $0.1 million in expense included in loans sales and servicing income in the three months ended June 30, 2014. | ||||||||||||||||||||||||||||||||
(c) - Collateral dependent impaired loans with a recorded investment of $62.2 million were reduced by specific valuation allowance allocations totaling $6.2 million to a reported net carrying value of $56.0 million. | ||||||||||||||||||||||||||||||||
(d) - Amounts do not include assets held at cost at June 30, 2014. During the three months ended June 30, 2014, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.7 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
(e) - Amounts do not include assets held at cost at June 30, 2014. During the three months ended June 30, 2014, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses $0.7 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
Fair Value by Hierarchy | ||||||||||||||||||||||||||||||||
(In thousands) | 31-Dec-13 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Recurring fair value measurement | ||||||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Marketable equity securities | $ | 3,036 | $ | 3,036 | $ | — | $ | — | ||||||||||||||||||||||||
Nonmarketable equity securities | 3,281 | — | 10 | 3,271 | ||||||||||||||||||||||||||||
U.S. States and political subdivisions | 262,367 | — | 262,367 | — | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 969,922 | — | 969,922 | — | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 69,567 | — | 69,567 | — | ||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,518,393 | — | 1,518,393 | — | ||||||||||||||||||||||||||||
Non-agency | 9 | — | — | 9 | ||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 102,268 | — | 102,268 | — | ||||||||||||||||||||||||||||
Corporate debt securities | 50,644 | — | — | 50,644 | ||||||||||||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | 293,687 | — | — | 293,687 | ||||||||||||||||||||||||||||
Total available-for-sale securities | 3,273,174 | 3,036 | 2,922,527 | 347,611 | ||||||||||||||||||||||||||||
Residential loans held for sale | 11,622 | — | 11,622 | — | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 46,577 | — | 46,577 | — | ||||||||||||||||||||||||||||
Mortgage loan commitments | 891 | — | 891 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 384 | — | 384 | — | ||||||||||||||||||||||||||||
Foreign exchange | 50 | — | 50 | — | ||||||||||||||||||||||||||||
Total derivative assets | 47,902 | — | 47,902 | — | ||||||||||||||||||||||||||||
Total fair value of assets (a) | $ | 3,332,698 | $ | 3,036 | $ | 2,982,051 | $ | 347,611 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest rate swaps - fair value hedges | $ | 11,574 | $ | — | $ | 11,574 | $ | — | ||||||||||||||||||||||||
Interest rate swaps - nondesignated | 46,577 | — | 46,577 | — | ||||||||||||||||||||||||||||
Foreign exchange | 50 | — | 50 | — | ||||||||||||||||||||||||||||
Total derivative liabilities | 58,201 | — | 58,201 | — | ||||||||||||||||||||||||||||
True-up liability | 11,463 | — | — | 11,463 | ||||||||||||||||||||||||||||
Total fair value of liabilities (a) | $ | 69,664 | $ | — | $ | 58,201 | $ | 11,463 | ||||||||||||||||||||||||
Nonrecurring fair value measurement | ||||||||||||||||||||||||||||||||
Mortgage servicing rights (b) | $ | 23,041 | $ | — | $ | — | $ | 23,041 | ||||||||||||||||||||||||
Impaired loans (c) | 47,870 | — | — | 47,870 | ||||||||||||||||||||||||||||
Other property (d) | 10,018 | — | — | 10,018 | ||||||||||||||||||||||||||||
Other real estate covered by loss share (e) | 8,754 | — | — | 8,754 | ||||||||||||||||||||||||||||
Total fair value | $ | 89,683 | $ | — | $ | — | $ | 89,683 | ||||||||||||||||||||||||
(a) - There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||
(b) - MSRs with a recorded investment of $22.8 million were reduced by a specific valuation allowance totaling $0.3 million to a reported carrying value of $22.5 million resulting in a recovery of previously recognized expense of $2.3 million in recoveries included in loans sales and servicing income in the year ended ended December 31, 2013. | ||||||||||||||||||||||||||||||||
(c) - Collateral dependent impaired loans with a recorded investment of $52.6 million were reduced by specific valuation allowance allocations totaling $4.8 million to a reported net carrying value of $47.9 million. | ||||||||||||||||||||||||||||||||
(d) Amounts do not include assets held at cost at December 31, 2013. During the year ended December 31, 2013, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $1.4 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
(e) Amounts do not include assets held at cost at December 31, 2013. During the year ended December 31, 2013, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $1.0 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
Fair Value by Hierarchy | ||||||||||||||||||||||||||||||||
(In thousands) | 30-Jun-13 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Recurring fair value measurement | ||||||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Marketable equity securities | $ | 3,213 | $ | 3,213 | $ | — | $ | — | ||||||||||||||||||||||||
Non-marketable equity securities | 3,281 | 10 | 3,271 | |||||||||||||||||||||||||||||
U.S. States and political subdivisions | 277,934 | — | 277,934 | — | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,075,928 | — | 1,075,928 | — | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 56,497 | — | 56,497 | — | ||||||||||||||||||||||||||||
Residential collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 1,566,728 | — | 1,566,728 | — | ||||||||||||||||||||||||||||
Non-agency | 10 | — | 2 | 8 | ||||||||||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | 106,568 | — | 106,568 | — | ||||||||||||||||||||||||||||
Corporate debt securities | 51,138 | — | — | 51,138 | ||||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | 158,095 | — | — | 158,095 | ||||||||||||||||||||||||||||
Total available-for-sale securities | 3,299,392 | 3,213 | 3,083,667 | 212,512 | ||||||||||||||||||||||||||||
Residential loans held for sale | 22,855 | — | 22,855 | — | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,804 | — | 47,804 | — | ||||||||||||||||||||||||||||
Mortgage loan commitments | 779 | — | 779 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 4,458 | — | 4,458 | — | ||||||||||||||||||||||||||||
Foreign exchange | 117 | — | 117 | — | ||||||||||||||||||||||||||||
Total derivative assets | 53,158 | — | 53,158 | — | ||||||||||||||||||||||||||||
Total fair value of assets (a) | $ | 3,375,405 | $ | 3,213 | $ | 3,159,680 | $ | 212,512 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest rate swaps - fair value hedges | 14,319 | — | 14,319 | — | ||||||||||||||||||||||||||||
Interest rate swaps - nondesignated | 47,804 | — | 47,804 | — | ||||||||||||||||||||||||||||
Foreign exchange | 94 | — | 94 | — | ||||||||||||||||||||||||||||
Total derivative liabilities | 62,217 | — | 62,217 | — | ||||||||||||||||||||||||||||
True-up liability | 10,937 | — | — | 10,937 | ||||||||||||||||||||||||||||
Total fair value of liabilities (a) | $ | 73,154 | $ | — | $ | 62,217 | $ | 10,937 | ||||||||||||||||||||||||
Nonrecurring fair value measurement | ||||||||||||||||||||||||||||||||
Mortgage servicing rights (b) | $ | 22,529 | $ | — | $ | — | $ | 22,529 | ||||||||||||||||||||||||
Impaired loans (c) | 52,606 | — | — | 52,606 | ||||||||||||||||||||||||||||
Other property (d) | 16,825 | — | — | 16,825 | ||||||||||||||||||||||||||||
Other real estate covered by loss share (e) | 18,338 | — | — | 18,338 | ||||||||||||||||||||||||||||
Total fair value | $ | 110,298 | $ | — | $ | — | $ | 110,298 | ||||||||||||||||||||||||
(a) - There were no transfers between levels 1 and 2 of the fair value hierarchy during the three months ended June 30, 2013. | ||||||||||||||||||||||||||||||||
(b) - MSRs with a recorded investment of $22.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $22.1 million resulting in recovery of a previously recognized expense of $0.8 million in the three months ended June 30, 2013. | ||||||||||||||||||||||||||||||||
(c) - Collateral dependent impaired loans with a recorded investment of $58.1 million were reduced by specific valuation allowance allocations totaling $5.5 million to a reported net carrying value of $52.6 million. | ||||||||||||||||||||||||||||||||
(d) - Amounts do not include assets held at cost at June 30, 2013. During the three months ended June 30, 2013, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.3 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
(e) - Amounts do not include assets held at cost at June 30, 2013. During the three months ended June 30, 2013, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.6 million included in noninterest expense. | ||||||||||||||||||||||||||||||||
Summary of changes in Level 3 assets and liabilities measured at fair value | ' | |||||||||||||||||||||||||||||||
The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2014 and 2013 are summarized as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
(In thousands) | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | ||||||||||||||||||||||||
Balance at beginning of period | $ | 349,425 | $ | 11,983 | $ | 51,234 | $ | 12,783 | $ | 347,610 | $ | 11,463 | $ | 49,661 | $ | 12,259 | ||||||||||||||||
Fair value of assets acquired | — | — | 3,271 | — | — | — | 3,271 | — | ||||||||||||||||||||||||
(Gains) losses included in earnings (a) | — | 598 | — | (1,846 | ) | — | 1,118 | — | (1,322 | ) | ||||||||||||||||||||||
Unrealized gains (losses) (b) | 1,253 | — | (1,923 | ) | — | 3,021 | — | (363 | ) | — | ||||||||||||||||||||||
Purchases | — | — | 159,916 | — | — | — | 159,916 | — | ||||||||||||||||||||||||
Settlements | 55 | — | 14 | — | 102 | — | 27 | — | ||||||||||||||||||||||||
Balance at ending of period | $ | 350,733 | $ | 12,581 | $ | 212,512 | $ | 10,937 | $ | 350,733 | $ | 12,581 | $ | 212,512 | $ | 10,937 | ||||||||||||||||
(a) Reported in "Other expense" | ||||||||||||||||||||||||||||||||
(b) Reported in "Other comprehensive income (loss)" | ||||||||||||||||||||||||||||||||
Summary of Change in fair value carrying amount of residential mortgages | ' | |||||||||||||||||||||||||||||||
The aggregate fair value, contractual balance and gain or loss on loans held for sale was as follows: | ||||||||||||||||||||||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | |||||||||||||||||||||||||||||
Aggregate fair value carrying amount | $ | 21,632 | $ | 11,622 | $ | 22,855 | ||||||||||||||||||||||||||
Aggregate unpaid principal / contractual balance | 20,886 | 11,438 | 23,220 | |||||||||||||||||||||||||||||
Carrying amount over aggregate unpaid principal (a) | $ | 746 | $ | 184 | $ | (365 | ) | |||||||||||||||||||||||||
(a) These changes are included in "Loan sales and servicing income" in the Consolidated Statements of Income. | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||||||||||||||||
The carrying amount and estimated fair value of the Corporation’s financial instruments that are carried at either fair value or cost as of June 30, 2014, December 31, 2013, and June 30, 2013 are shown in the tables below. | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 642,570 | $ | 642,570 | $ | 642,570 | $ | — | $ | — | ||||||||||||||||||||||
Available-for-sale securities | 3,478,420 | 3,478,420 | 2,935 | 3,124,752 | 350,733 | |||||||||||||||||||||||||||
Held-to-maturity securities | 3,052,118 | 3,001,866 | — | 3,001,866 | — | |||||||||||||||||||||||||||
Other securities | 148,433 | 148,433 | — | 148,433 | — | |||||||||||||||||||||||||||
Loans held for sale | 21,632 | 21,632 | — | 21,632 | — | |||||||||||||||||||||||||||
Net originated loans | 11,375,243 | 11,458,318 | — | — | 11,458,318 | |||||||||||||||||||||||||||
Net acquired loans | 3,018,810 | 3,166,228 | — | — | 3,166,228 | |||||||||||||||||||||||||||
Net covered loans and loss share receivable | 433,538 | 433,538 | — | — | 433,538 | |||||||||||||||||||||||||||
Accrued interest receivable | 63,172 | 63,172 | — | 63,172 | — | |||||||||||||||||||||||||||
Derivatives | 50,550 | 50,550 | — | 50,550 | — | |||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Deposits | $ | 19,298,396 | $ | 19,300,842 | $ | — | $ | 19,300,842 | $ | — | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 1,218,855 | 1,218,855 | — | 1,218,855 | — | |||||||||||||||||||||||||||
Wholesale borrowings | 649,021 | 652,615 | — | 652,615 | — | |||||||||||||||||||||||||||
Long-term debt | 324,433 | 335,757 | — | 335,757 | — | |||||||||||||||||||||||||||
Accrued interest payable | 8,311 | 8,311 | — | 8,311 | — | |||||||||||||||||||||||||||
Derivatives | 57,544 | 57,544 | — | 57,544 | — | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 917,822 | $ | 917,822 | $ | 917,822 | $ | — | $ | — | ||||||||||||||||||||||
Available-for-sale securities | 3,273,174 | 3,273,174 | 3,036 | 2,922,527 | 347,611 | |||||||||||||||||||||||||||
Held-to-maturity securities | 2,935,688 | 2,824,240 | — | 2,824,240 | — | |||||||||||||||||||||||||||
Other securities | 180,803 | 180,803 | — | 180,803 | — | |||||||||||||||||||||||||||
Loans held for sale | 11,622 | 11,622 | — | 11,622 | — | |||||||||||||||||||||||||||
Net originated loans | 10,116,903 | 10,017,722 | — | — | 10,017,722 | |||||||||||||||||||||||||||
Net acquired loans | 3,494,874 | 3,627,275 | 3,627,275 | |||||||||||||||||||||||||||||
Net covered loans and loss share receivable | 547,943 | 547,943 | — | — | 547,943 | |||||||||||||||||||||||||||
Accrued interest receivable | 52,929 | 52,929 | — | 52,929 | — | |||||||||||||||||||||||||||
Derivatives | 47,902 | 47,902 | — | 47,902 | — | |||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Deposits | $ | 19,533,601 | $ | 19,532,368 | $ | — | $ | 19,532,368 | $ | — | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 851,535 | 851,535 | — | 851,535 | — | |||||||||||||||||||||||||||
Wholesale borrowings | 200,600 | 204,124 | — | 204,124 | — | |||||||||||||||||||||||||||
Long-term debt | 324,428 | 319,711 | — | 319,711 | — | |||||||||||||||||||||||||||
Accrued interest payable | 9,339 | 9,339 | — | 9,339 | — | |||||||||||||||||||||||||||
Derivatives | 58,201 | 58,201 | — | 58,201 | — | |||||||||||||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 909,490 | $ | 909,490 | $ | 909,490 | $ | — | $ | — | ||||||||||||||||||||||
Available for sale securities | 3,299,392 | 3,299,392 | 3,213 | 3,083,667 | 212,512 | |||||||||||||||||||||||||||
Held to maturity securities | 2,551,860 | 2,487,071 | — | 2,487,071 | — | |||||||||||||||||||||||||||
Other securities | 267,565 | 267,565 | — | 267,565 | — | |||||||||||||||||||||||||||
Loans held for sale | 22,855 | 22,855 | — | 22,855 | — | |||||||||||||||||||||||||||
Net originated loans | 9,033,980 | 8,984,845 | — | — | 8,984,845 | |||||||||||||||||||||||||||
Net acquired loans | 4,250,362 | 4,250,362 | 4,250,362 | |||||||||||||||||||||||||||||
Net covered loans and loss share receivable | 711,367 | 711,367 | — | — | 711,367 | |||||||||||||||||||||||||||
Accrued interest receivable | 48,635 | 48,635 | — | 48,635 | — | |||||||||||||||||||||||||||
Derivatives | 53,158 | 53,158 | — | 53,158 | — | |||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Deposits | $ | 19,119,722 | $ | 19,125,843 | $ | — | $ | 19,125,843 | $ | — | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 844,871 | 844,871 | — | 844,871 | — | |||||||||||||||||||||||||||
Wholesale borrowings | 201,337 | 205,210 | — | 205,210 | — | |||||||||||||||||||||||||||
Long-term debt | 324,422 | 322,322 | — | 322,322 | — | |||||||||||||||||||||||||||
Accrued interest payable | 9,066 | 9,066 | — | 9,066 | — | |||||||||||||||||||||||||||
Derivatives | 62,217 | 62,217 | — | 62,217 | — | |||||||||||||||||||||||||||
Mortgage_Servicing_Rights_and_1
Mortgage Servicing Rights and Mortgage Servicing Activity (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Transfers and Servicing [Abstract] | ' | |||||||||||||||
Changes in the carrying amount of mortgage servicing rights | ' | |||||||||||||||
Changes in the carrying amount of MSRs and MSRs valuation allowance are as follows: | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Balance at beginning of period | $ | 22,469 | $ | 21,378 | $ | 22,760 | $ | 21,316 | ||||||||
Addition of Citizens' MSRs on Acquisition Date | — | 1,065 | — | 1,065 | ||||||||||||
Additions | 643 | 1,434 | 1,207 | 2,701 | ||||||||||||
Amortization | (963 | ) | (1,273 | ) | (1,817 | ) | (2,478 | ) | ||||||||
Balance at end of period | 22,150 | 22,604 | 22,150 | 22,604 | ||||||||||||
Valuation allowance at beginning of period | (425 | ) | (1,234 | ) | (282 | ) | (2,564 | ) | ||||||||
Recoveries (Additions) | (137 | ) | 752 | (280 | ) | 2,082 | ||||||||||
Valuation allowance at end of period | (562 | ) | (482 | ) | (562 | ) | (482 | ) | ||||||||
MSRs, net carrying balance | $ | 21,588 | $ | 22,122 | $ | 21,588 | $ | 22,122 | ||||||||
Fair value at end of period | $ | 21,987 | $ | 22,529 | $ | 21,987 | $ | 22,529 | ||||||||
Changes in Key economics assumptions | ' | |||||||||||||||
In reality, changes in one factor may result in changes in another (for example, changes in prepayment speed estimates could result in changes in the discount rates), which might magnify or counteract the sensitivities. | ||||||||||||||||
Prepayment speed assumption (annual CPR) | 10.64 | % | ||||||||||||||
Decrease in fair value from 10% adverse change | $ | 743 | ||||||||||||||
Decrease in fair value from 25% adverse change | $ | 1,783 | ||||||||||||||
Discount rate assumption | 9.9 | % | ||||||||||||||
Decrease in fair value from 100 basis point adverse change | $ | 682 | ||||||||||||||
Decrease in fair value from 200 basis point adverse change | $ | 1,320 | ||||||||||||||
Expected weighted-average life (in months) | 99.3 | |||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Schedule of Commitments to Extend Credit | ' | ||||||||||||
The following table shows the remaining contractual amount of each class of commitments to extend credit as of June 30, 2014, December 31, 2013, and June 30, 2013. This amount represents the Corporation's maximum exposure to loss if the customer were to draw upon the full amount of the commitment and subsequently default on payment for the total amount of the then outstanding loan. | |||||||||||||
Loan commitments | |||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||
Commercial | $ | 3,386,052 | $ | 3,367,625 | $ | 3,020,138 | |||||||
Consumer | 2,280,431 | 2,179,010 | 2,096,495 | ||||||||||
Total loan commitments | $ | 5,666,483 | $ | 5,546,635 | $ | 5,116,633 | |||||||
Schedule of Guarantor Obligations | ' | ||||||||||||
The Corporation is a guarantor in certain agreements with third parties. The following table shows the types of guarantees the Corporation had outstanding as of June 30, 2014, December 31, 2013, and June 30, 2013. | |||||||||||||
Financial guarantees | |||||||||||||
(In thousands) | June 30, 2014 | December 31, 2013 | June 30, 2013 | ||||||||||
Standby letters of credit | $ | 201,212 | $ | 196,400 | $ | 239,181 | |||||||
Loans sold with recourse | 34,662 | 45,082 | 54,944 | ||||||||||
Total financial guarantees | $ | 235,874 | $ | 241,482 | $ | 294,125 | |||||||
Changes in Repurchase Reserve | ' | ||||||||||||
Changes in the amount of the repurchase reserve for the three and six months ended June 30, 2014 and 2013 are as follows: | |||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||
(In thousands) | Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | ||||||||||
Balance at beginning of period | $ | 8,200 | $ | 1,117 | $ | 9,317 | |||||||
Net realized losses | (164 | ) | — | (164 | ) | ||||||||
Net increase (decrease) to reserve | (136 | ) | 5 | (131 | ) | ||||||||
Balance at end of period | $ | 7,900 | $ | 1,122 | $ | 9,022 | |||||||
Three Months Ended June 30, 2013 | |||||||||||||
(In thousands) | Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchased reserve | ||||||||||
Balance at beginning of period | $ | 1,600 | $ | 1,138 | $ | 2,738 | |||||||
Assumed obligation | 6,000 | — | 6,000 | ||||||||||
Net realized losses | (928 | ) | — | (928 | ) | ||||||||
Net increase (decrease) to reserve | 615 | (32 | ) | 583 | |||||||||
Balance at end of period | $ | 7,287 | $ | 1,106 | $ | 8,393 | |||||||
Changes_and_Reclassifications_1
Changes and Reclassifications Out of Accumulated Other Comprehensive Income Period Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Period Changes Out of Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | ||||||||||||||||||||||||
The following table presents the changes in AOCI by component of comprehensive income for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | |||||||||||||||||||||||
(In thousands) | Pre-tax | Tax | After-tax | Pre-tax | Tax | After-tax | ||||||||||||||||||
Unrealized and realized securities gains and losses: | ||||||||||||||||||||||||
Balance at the beginning of the period | $ | (27,578 | ) | $ | (9,653 | ) | $ | (17,925 | ) | $ | (45,072 | ) | $ | (15,775 | ) | $ | (29,297 | ) | ||||||
Changes in unrealized securities' holding gains/(losses) | 22,456 | 7,860 | 14,596 | 40,500 | 14,175 | 26,325 | ||||||||||||||||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred into available-for-sale from held-to-maturity | (494 | ) | (173 | ) | (321 | ) | (988 | ) | (346 | ) | (642 | ) | ||||||||||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income | (80 | ) | (28 | ) | (52 | ) | (136 | ) | (48 | ) | (88 | ) | ||||||||||||
Balance at the end of the period | (5,696 | ) | (1,994 | ) | (3,702 | ) | (5,696 | ) | (1,994 | ) | (3,702 | ) | ||||||||||||
Pension plans and other postretirement benefits: | ||||||||||||||||||||||||
Balance at the beginning and end of the period | (57,812 | ) | (20,233 | ) | (37,579 | ) | (57,812 | ) | (20,233 | ) | (37,579 | ) | ||||||||||||
Current year actual losses (gains) | — | — | — | — | — | — | ||||||||||||||||||
Amortization of actuarial gain | 1,631 | 571 | 1,060 | 1,631 | 571 | 1,060 | ||||||||||||||||||
Amortization of prior service cost reclassified to other noninterest expense | 1,097 | 383 | 714 | 1,097 | 383 | 714 | ||||||||||||||||||
Balance at the end of the period | $ | (55,084 | ) | $ | (19,279 | ) | $ | (35,805 | ) | $ | (55,084 | ) | $ | (19,279 | ) | $ | (35,805 | ) | ||||||
Total Accumulated Other Comprehensive Income | $ | (60,780 | ) | $ | (21,273 | ) | $ | (39,507 | ) | $ | (60,780 | ) | $ | (21,273 | ) | $ | (39,507 | ) | ||||||
Three Months Ended June 30, 2013 | Six months ended June 30, 2013 | |||||||||||||||||||||||
(In thousands) | Pre-tax | Tax | After-tax | Pretax | Tax | After-tax | ||||||||||||||||||
Unrealized and realized securities gains and losses: | ||||||||||||||||||||||||
Balance at the beginning of the period | $ | 73,083 | $ | 25,579 | $ | 47,504 | $ | 85,259 | $ | 29,841 | $ | 55,418 | ||||||||||||
Changes in unrealized securities' holding gains/(losses) | (75,729 | ) | (26,505 | ) | (49,224 | ) | (87,362 | ) | (30,577 | ) | (56,785 | ) | ||||||||||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred into available-for-sale from held-to-maturity | (568 | ) | (199 | ) | (369 | ) | (1,120 | ) | (392 | ) | (728 | ) | ||||||||||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income | 2,794 | 978 | 1,816 | 2,803 | 981 | 1,822 | ||||||||||||||||||
Balance at the end of the period | (420 | ) | (147 | ) | (273 | ) | (420 | ) | (147 | ) | (273 | ) | ||||||||||||
Pension plans and other postretirement benefits: | ||||||||||||||||||||||||
Balance at the beginning and end of the period | (110,188 | ) | (38,565 | ) | (71,623 | ) | (110,188 | ) | (38,565 | ) | (71,623 | ) | ||||||||||||
Current year actual losses (gains) | — | — | — | — | — | — | ||||||||||||||||||
Amortization of actuarial gain | — | — | — | — | — | — | ||||||||||||||||||
Amortization of prior service cost reclassified to other noninterest expense | — | — | — | — | — | — | ||||||||||||||||||
Balance at the end of the period | $ | (110,188 | ) | $ | (38,565 | ) | $ | (71,623 | ) | $ | (110,188 | ) | $ | (38,565 | ) | $ | (71,623 | ) | ||||||
Total Accumulated Other Comprehensive Income | $ | (110,608 | ) | $ | (38,712 | ) | $ | (71,896 | ) | $ | (110,608 | ) | $ | (38,712 | ) | $ | (71,896 | ) | ||||||
Tax Effect of Changes and Reclassifications Out of Accumulated Other Comprehensive Income | ' | |||||||||||||||||||||||
The following table presents current period reclassifications out of AOCI by component of comprehensive income for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||
(In thousands) | Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | Income statement line item presentation | |||||||||||||||||||||
Realized (gains)/losses on sale of securities | $ | (80 | ) | $ | (136 | ) | Investment securities losses (gains), net | |||||||||||||||||
Tax expense (benefit) (35%) | (28 | ) | (48 | ) | Income tax expense (benefit) | |||||||||||||||||||
Reclassified amount, net of tax | $ | (52 | ) | $ | (88 | ) | ||||||||||||||||||
(In thousands) | Three Months Ended June 30, 2013 | Six months ended June 30, 2013 | Income statement line item presentation | |||||||||||||||||||||
Realized (gains)/losses on sale of securities | $ | 2,794 | $ | 2,803 | Investment securities losses (gains), net | |||||||||||||||||||
Tax expense (benefit) (35%) | 978 | 982 | Income tax expense (benefit) | |||||||||||||||||||||
Reclassified amount, net of tax | $ | 1,816 | $ | 1,821 | ||||||||||||||||||||
Significant_Accounting_Policie1
Significant Accounting Policies (Details) (accounting standards update 2014-01 [Member], USD $) | 3 Months Ended | 6 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
accounting standards update 2014-01 [Member] | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $0.80 | $1.50 |
Business_Combinations_Business
Business Combinations Business Combination Narrative (Details) (USD $) | 3 Months Ended | 6 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Apr. 15, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Apr. 12, 2013 | Feb. 04, 2013 | Jun. 30, 2013 | Apr. 12, 2013 | Jun. 30, 2014 | Apr. 12, 2013 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 12, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | |
Branch | Branch | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | FirstMerit | FirstMerit | Citizens Republic Bancorp | Citizens Republic Bancorp | Junior Subordinated Debt | Junior Subordinated Debt | Maximum | Minimum | Acquired Impaired Loans | Pro Forma [Member] | Pro Forma [Member] | ||||
Branch | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Junior Subordinated Debt | Junior Subordinated Debt | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | |||||||||||||
Citizens Republic Bancorp | Citizens Republic Bancorp | |||||||||||||||||||||
Business Combinations Narrative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquired Receivables, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,617,004,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,100,000,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,202,575,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 24,564,431,000 | 23,534,873,000 | 24,564,431,000 | 23,534,873,000 | 23,912,028,000 | ' | ' | ' | ' | 9,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Branches | 379 | ' | 379 | ' | ' | ' | ' | ' | ' | 219 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Share Conversion Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issued for Citizens acquisition | ' | ' | ' | ' | ' | ' | ' | 55,468,283 | ' | 55,468,283 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of Citizens TARP Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated but unpaid interest and dividends related to Citizens TARP Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.35% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total gross proceeds from issuance of depositary shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate of Non-Cumulative Perpetual Preferred Stock, Series A | ' | ' | ' | ' | ' | ' | 5.88% | ' | 5.88% | ' | 5.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,408,203 | 2,408,203 | 2,515,892 | 1,757,812.50 | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | ' | ' | 281,694,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | 313,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 261,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Operating Loss and Tax Credit Carryforwards included in Acquired Deferred Tax Asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | 224,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination, deferred tax asset fair market value adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Asset, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 349,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of securities sold subsequent to acquisition | ' | ' | ' | ' | ' | ' | ' | 2,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of securities subsequent to acquisition | ' | ' | ' | ' | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Federal Home Loan Bank Advances | ' | ' | ' | ' | ' | ' | ' | ' | ' | 719,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Federal Home Loan Bank Borrowings | ' | ' | ' | ' | ' | 652,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal home loan bank advances retained | ' | ' | ' | ' | ' | ' | 66,800,000 | ' | 66,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Subordinated Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 74,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.75% | 3.10% | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' | ' | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Long Term Repurchase Agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Parent | 59,519,000 | 48,450,000 | 112,974,000 | 85,796,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $32,100,000 | $35,700,000 |
Business_Combinations_Schedule
Business Combinations Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) (USD $) | 0 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||
In Thousands, except Share data, unless otherwise specified | Apr. 12, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Apr. 12, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Apr. 12, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Apr. 12, 2013 | |||
Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Core Deposits | Core Deposits | Core Deposits | Customer Relationships | Customer Relationships | Customer Relationships | Customer Relationships | Customer Relationships | |||||||
Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | ||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Stock issued for Citizens acquisition | ' | ' | ' | ' | 55,468,283 | 55,468,283 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Acquisition, Share Price | ' | ' | ' | ' | ' | $16.68 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | ' | $925,211 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Sale to the Treasury of Newly issued Non-Voting Preferred Shares Part of TARP | ' | ' | ' | ' | ' | 355,371 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Cash paid in lieu of stock to Citizens stockholders at acquisition | ' | ' | ' | ' | ' | 61 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Adjustments to Additional Paid in Capital, Warrant Issued | 3,000 | 0 | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Consideration Transferred | ' | ' | ' | ' | 1,283,643 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | ' | ' | ' | ' | ' | 544,380 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | ' | ' | ' | ' | ' | 3,202,575 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Acquired Receivables, Fair Value | ' | ' | ' | ' | ' | 4,617,004 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | ' | ' | ' | ' | 138,536 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | ' | ' | ' | ' | ' | 84,774 | [1] | ' | ' | 70,800 | [1] | 14,000 | 14,000 | 14,000 | ' | 14,000 | [1] |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | ' | ' | ' | ' | ' | 681,100 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | ' | ' | 9,268,369 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Deposits | ' | ' | ' | ' | ' | 7,276,754 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | ' | ' | ' | ' | ' | 908,824 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | ' | ' | ' | ' | ' | 80,842 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | ' | 8,266,420 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | ' | ' | 1,001,949 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Goodwill | ' | ' | ' | $281,694 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | ' | '10 years | '15 years | ' | ' | ' | ' | '12 years | ' | |||
[1] | Intangible assets consist of core deposit intangibles of $70.8 million and trust relationships of approximately $14.0 million. The useful lives for which the core deposit intangibles and the trust relationships are being amortized over is 15 years and 12 years, respectively. |
Business_Combinations_Acquired
Business Combinations Acquired Impaired and NonImpaired Loans at Acquisition Date (Details) (Citizens Republic Bancorp, USD $) | Apr. 12, 2013 |
In Thousands, unless otherwise specified | |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | $4,617,004 |
Acquired Loans | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 4,617,004 |
Acquired Loans | Commercial Real Estate Construction Financing Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 30,534 |
Acquired Loans | Commercial Real Estate | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 737,635 |
Acquired Loans | Commercial and Industrial | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 1,753,934 |
Acquired Loans | Consumer Home Equity Lines Financing Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 364,863 |
Acquired Loans | Installment | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 1,219,343 |
Acquired Loans | Residential Mortgages | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 510,695 |
Acquired performing loans | Commercial Real Estate Construction Financing Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 17,135 |
Acquired performing loans | Commercial Real Estate Other Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 359,066 |
Acquired performing loans | Commercial and Industrial | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 1,660,199 |
Acquired performing loans | Consumer Home Equity Lines Financing Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 317,250 |
Acquired performing loans | Installment | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 1,165,235 |
Acquired performing loans | Residential Mortgages | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 278,404 |
Acquired Impaired Loans | Commercial Real Estate Construction Financing Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 13,399 |
Acquired Impaired Loans | Commercial Real Estate Other Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 378,569 |
Acquired Impaired Loans | Commercial and Industrial | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 93,735 |
Acquired Impaired Loans | Consumer Home Equity Lines Financing Receivable | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 47,613 |
Acquired Impaired Loans | Installment | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 54,108 |
Acquired Impaired Loans | Residential Mortgages | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 232,291 |
non-impaired | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 3,797,289 |
Impaired loans | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 819,715 |
Consumer Loan | Acquired Loans | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 2,094,901 |
Consumer Loan | Acquired performing loans | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 1,760,889 |
Consumer Loan | Acquired Impaired Loans | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 334,012 |
Commercial Loan | Acquired loan type [Domain] | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 2,522,103 |
Commercial Loan | Acquired performing loans | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | 2,036,400 |
Commercial Loan | Acquired Impaired Loans | ' |
Acquired Impaired and Non-Impaired Loans at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | $485,703 |
Business_Combinations_Acquired1
Business Combinations Acquired Non-impaired Loans Fair Value at Acquisition Date (Details) (Citizens Republic Bancorp, USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Apr. 12, 2013 |
Nonimpaired Loans Fair Value at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Fair Value | $4,617,004 |
non-impaired | ' |
Nonimpaired Loans Fair Value at Acquisition Date [Line Items] | ' |
Receivables Carrying Value at Acquisition Date | 4,017,304 |
Goodwill, Purchase Accounting Adjustments | 220,015 |
Business Combination, Acquired Receivables, Fair Value | $3,797,289 |
Business_Combinations_Nonimpai
Business Combinations Non-impaired Cash Flows Reconciliation at Acquisition Date (Details) (Citizens Republic Bancorp, non-impaired, USD $) | Apr. 12, 2013 |
In Thousands, unless otherwise specified | |
Citizens Republic Bancorp | non-impaired | ' |
Nonimpaired Loans Cash Flows Reconciliation at Acquisition Date [Line Items] | ' |
Business Combination, Acquired Receivables, Gross Contractual Amount | $4,955,180 |
Business Combination, Acquired Receivables, Estimated Uncollectible | 680,664 |
Contractually required payments at acquisition date, net of uncollectibles | $4,274,516 |
Business_Combinations_Reconcil
Business Combinations Reconciliation of Carrying Amount of Acquired Loans (Details) (Acquired Impaired Loans, USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Apr. 12, 2013 |
In Thousands, unless otherwise specified | Citizens Republic Bancorp | Citizens Republic Bancorp | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | ' | ' | ' | ' | ' | ' | ' | $1,231,172 |
Certain Loans Acquired in Transfer, Nonaccretable Difference | ' | ' | ' | ' | ' | ' | ' | 279,899 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | ' | ' | ' | ' | ' | ' | ' | 951,273 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | 137,442 | 142,284 | 136,646 | 120,067 | 0 | 0 | 0 | 131,558 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $519,250 | $557,199 | $601,000 | $752,682 | $0 | $0 | $0 | $819,715 |
Business_Combinations_Business1
Business Combinations Business Acquisition Pro Forma Information (Details) (Citizens Republic Bancorp, USD $) | 3 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 |
Citizens Republic Bancorp | ' | ' |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' | ' |
Business Acquisition, Pro Forma Revenue | $335,796 | $643,052 |
Business Acquisition, Pro Forma Net Income (Loss) | $73,972 | $153,487 |
Investment_Securities_Amortize
Investment Securities (Amortized Cost Table and Fair Value of Held to Maturity and Available for Sale Securities) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | $3,494,000 | $3,329,117 | $3,311,751 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 40,816 | 34,277 | 44,838 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -56,396 | -90,220 | -57,197 |
Available-for-sale Securities Fair Value | 3,478,420 | 3,273,174 | 3,299,392 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 3,052,118 | 2,935,688 | 2,551,860 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 18,601 | 6,761 | 4,077 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | -68,853 | -118,209 | -68,866 |
Held-to-maturity Securities, Fair Value | 3,052,118 | 2,935,688 | 2,551,860 |
US Government Agencies Debt Securities | ' | ' | ' |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 25,000 | 25,000 | 25,000 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 0 | 0 | 0 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | -707 | -1,348 | -1,193 |
Held-to-maturity Securities, Fair Value | 24,293 | 23,652 | 23,807 |
U.S. States and political subdivisions debt securities | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 233,228 | 258,787 | 272,254 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 8,600 | 7,376 | 9,207 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -1,023 | -3,796 | -3,527 |
Available-for-sale Securities Fair Value | 240,805 | 262,367 | 277,934 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 549,850 | 480,703 | 436,860 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 10,072 | 5,335 | 3,878 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | -1,253 | -10,459 | -9,041 |
Held-to-maturity Securities, Fair Value | 558,669 | 475,579 | 431,697 |
Residential Mortgage Backed Securities [Member] | ' | ' | ' |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | ' | ' | 253,839 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | ' | ' | 0 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | ' | ' | -8,051 |
Held-to-maturity Securities, Fair Value | ' | ' | 245,788 |
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 998,698 | 962,687 | 1,058,323 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 24,965 | 21,662 | 27,797 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -5,489 | -14,427 | -10,192 |
Available-for-sale Securities Fair Value | 1,018,174 | 969,922 | 1,075,928 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 624,605 | 569,960 | ' |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 6,825 | 1,108 | ' |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | -4,933 | -11,617 | ' |
Held-to-maturity Securities, Fair Value | 626,497 | 559,451 | ' |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 86,870 | 72,048 | 58,609 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 351 | 7 | 29 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -1,523 | -2,488 | -2,141 |
Available-for-sale Securities Fair Value | 85,698 | 69,567 | 56,497 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 56,020 | 56,596 | 50,352 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 176 | 0 | 0 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | -445 | -1,190 | -619 |
Held-to-maturity Securities, Fair Value | 55,751 | 55,406 | 49,733 |
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 1,627,871 | 1,566,262 | 1,586,576 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 5,009 | 4,199 | 7,272 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -34,849 | -52,068 | -27,120 |
Available-for-sale Securities Fair Value | 1,598,031 | 1,518,393 | 1,566,728 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 1,450,479 | 1,464,732 | 1,510,374 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 114 | 0 | 67 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | -54,263 | -81,818 | -41,674 |
Held-to-maturity Securities, Fair Value | 1,396,330 | 1,382,914 | 1,468,767 |
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 8 | 9 | 10 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 0 | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 0 | 0 | 0 |
Available-for-sale Securities Fair Value | 8 | 9 | 10 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 0 | ' | ' |
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 182,151 | 104,152 | 108,000 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 1,008 | 273 | 533 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -1,126 | -2,157 | -1,965 |
Available-for-sale Securities Fair Value | 182,033 | 102,268 | 106,568 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 248,974 | 240,069 | 175,384 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 641 | 6 | 0 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | -7,252 | -11,052 | -7,285 |
Held-to-maturity Securities, Fair Value | 242,363 | 229,023 | 168,099 |
Collateralized Loan Obligations | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 297,334 | 297,259 | 159,916 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 883 | 760 | 0 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -4,252 | -4,332 | -1,821 |
Available-for-sale Securities Fair Value | 293,965 | 293,687 | 158,095 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 0 | ' | ' |
Corporate debt securities | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 61,624 | 61,596 | 61,569 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 0 | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -8,134 | -10,952 | -10,431 |
Available-for-sale Securities Fair Value | 53,490 | 50,644 | 51,138 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 92,190 | 93,628 | 95,052 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 768 | 308 | 132 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | 0 | -725 | -1,003 |
Held-to-maturity Securities, Fair Value | 92,958 | 93,211 | 94,181 |
Debt Securities | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,487,784 | 3,322,800 | 3,305,257 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 40,816 | 34,277 | 44,838 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | -56,396 | -90,220 | -57,197 |
Available-for-sale Securities Fair Value | 3,472,204 | 3,266,857 | 3,292,898 |
Marketable Securities and Investments Held at Cost | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | ' | ' | 3,213 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | ' | ' | 0 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | ' | ' | 0 |
Available-for-sale Securities Fair Value | ' | ' | 3,213 |
Other Security Investments | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,281 | 3,281 | 3,281 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 0 | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 0 | 0 | 0 |
Available-for-sale Securities Fair Value | 3,281 | 3,281 | 3,281 |
Held-to-maturity Securities | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 6,216 | 6,317 | 6,494 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 0 | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 0 | 0 | 0 |
Available-for-sale Securities Fair Value | 6,216 | 6,317 | 6,494 |
Equity Securities | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 2,935 | 3,036 | ' |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 0 | 0 | ' |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 0 | 0 | ' |
Available-for-sale Securities Fair Value | 2,935 | 3,036 | 3,213 |
US Treasury Securities | ' | ' | ' |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost | 5,000 | 5,000 | 4,999 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 5 | 4 | 0 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | 0 | 0 | 0 |
Held-to-maturity Securities, Fair Value | $5,005 | $5,004 | $4,999 |
Investment_Securities_Investme1
Investment Securities Investment Securities (Schedule of General Obligation Bonds) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 873 | 890 | 903 |
General obligation bonds, average issue size, fair value | $915 | $829 | $605 |
General obligation bonds, amortized cost | 782,622 | 739,490 | 708,631 |
General obligation bonds, fair value | 798,942 | 737,946 | 709,064 |
MICHIGAN | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 174 | 166 | 174 |
General obligation bonds, average issue size, fair value | 862 | 744 | 689 |
General obligation bonds, amortized cost | 146,565 | 122,198 | 119,040 |
General obligation bonds, fair value | 150,052 | 123,571 | 119,916 |
OHIO | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 152 | 154 | 155 |
General obligation bonds, average issue size, fair value | 1,065 | 1,041 | 983 |
General obligation bonds, amortized cost | 158,773 | 159,674 | 151,243 |
General obligation bonds, fair value | 161,809 | 160,265 | 152,289 |
ILLINOIS | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 74 | 75 | 68 |
General obligation bonds, average issue size, fair value | 1,578 | 1,314 | 1,045 |
General obligation bonds, amortized cost | 113,501 | 96,863 | 69,718 |
General obligation bonds, fair value | 116,741 | 98,521 | 71,055 |
TEXAS | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 65 | 69 | 70 |
General obligation bonds, average issue size, fair value | 794 | 771 | 774 |
General obligation bonds, amortized cost | 50,845 | 54,295 | 55,132 |
General obligation bonds, fair value | 51,632 | 53,204 | 54,201 |
WISCONSIN | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 87 | 87 | 82 |
General obligation bonds, average issue size, fair value | 864 | 645 | 646 |
General obligation bonds, amortized cost | 72,616 | 54,921 | 51,660 |
General obligation bonds, fair value | 75,155 | 56,152 | 52,933 |
PENNSYLVANIA | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 49 | 51 | 57 |
General obligation bonds, average issue size, fair value | 972 | 891 | 885 |
General obligation bonds, amortized cost | 47,870 | 48,319 | 52,581 |
General obligation bonds, fair value | 47,623 | 45,451 | 50,428 |
MINNESOTA | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 42 | 45 | 47 |
General obligation bonds, average issue size, fair value | 678 | 663 | 658 |
General obligation bonds, amortized cost | 27,864 | 29,840 | 30,675 |
General obligation bonds, fair value | 28,468 | 29,816 | 30,927 |
WASHINGTON | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 30 | 30 | 31 |
General obligation bonds, average issue size, fair value | 955 | 930 | 947 |
General obligation bonds, amortized cost | 28,191 | 28,393 | 29,696 |
General obligation bonds, fair value | 28,660 | 27,906 | 29,371 |
NEW JERSEY | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 37 | 38 | 39 |
General obligation bonds, average issue size, fair value | 751 | 722 | 720 |
General obligation bonds, amortized cost | 26,815 | 27,101 | 27,485 |
General obligation bonds, fair value | 27,805 | 27,440 | 28,078 |
MISSOURI | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 19 | 20 | 20 |
General obligation bonds, average issue size, fair value | 1,022 | 969 | 981 |
General obligation bonds, amortized cost | 18,855 | 19,253 | 19,351 |
General obligation bonds, fair value | 19,413 | 19,382 | 19,624 |
NEW YORK | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 21 | 22 | 22 |
General obligation bonds, average issue size, fair value | 612 | 585 | 609 |
General obligation bonds, amortized cost | 12,627 | 13,064 | 13,484 |
General obligation bonds, fair value | 12,860 | 12,878 | 13,400 |
CALIFORNIA | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | ' | 18 | 20 |
General obligation bonds, average issue size, fair value | ' | 599 | 591 |
General obligation bonds, amortized cost | ' | 10,651 | 11,592 |
General obligation bonds, fair value | ' | 10,788 | 11,821 |
Other states | ' | ' | ' |
general obligation bonds [Line Items] | ' | ' | ' |
General Obligation Bonds number of issuers | 123 | 115 | 118 |
General obligation bonds, average issue size, fair value | 640 | 631 | 636 |
General obligation bonds, amortized cost | 78,100 | 74,918 | 76,974 |
General obligation bonds, fair value | $78,724 | $72,572 | $75,021 |
Investment_Securities_Other_In
Investment Securities (Other Investments Table) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Other investments | ' | ' | ' |
FRB stock | $55,435 | $55,294 | $52,477 |
FHLB stock | 92,547 | 125,032 | 214,586 |
Other | 451 | 477 | 502 |
Total other investments | $148,433 | $180,803 | $267,565 |
Investment_Securities_Realized
Investment Securities (Realized Gain Loss Table) (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 |
Proceeds and gross unrealized gains and losses on sales of available-for-sale securities | ' | ' | ' | ' |
Realized gains | $80 | $3,786 | $300 | $3,786 |
Realized losses | 0 | -6,580 | -164 | -6,589 |
Net securities (losses)/gains | $80 | ($2,794) | $136 | ($2,803) |
Investment_Securities_Gross_Un
Investment Securities (Gross Unrealized Loss Table) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | securities | securities | securities |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $472,977 | $1,908,543 | $1,633,108 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -5,046 | -67,758 | -46,766 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 55 | 218 | 220,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -1,418,752 | -199,691 | -51,138 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -51,350 | -22,462 | -10,431 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 161 | 46 | 8,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,891,729 | 2,108,234 | 1,684,246 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -56,396 | -90,220 | -57,197 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 187,242 | 2,373,148 | 2,191,336 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -1,434 | -118,026 | -68,866 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 64 | 492 | 485,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,747,578 | 2,478 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -67,419 | -183 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 182 | 6 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 1,934,820 | 2,375,626 | 2,191,336 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -68,853 | -118,209 | -68,866 |
US Government Agencies Debt Securities | ' | ' | ' |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 23,652 | 23,807 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | -1,348 | -1,193 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 1 | 1,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 24,293 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -707 | 0 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 1 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 24,293 | 23,652 | 23,807 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -707 | -1,348 | -1,193 |
U.S. States and political subdivisions debt securities | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,988 | 38,039 | 61,933 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -16 | -1,996 | -3,527 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 14 | 65 | 106,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -30,271 | -14,157 | 0 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -1,007 | -1,800 | 0 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 50 | 25 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 41,259 | 52,196 | 61,933 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -1,023 | -3,796 | -3,527 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 59,958 | 222,154 | 228,098 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -334 | -10,276 | -9,041 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 56 | 353 | 362,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 66,557 | 2,478 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -919 | -183 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 90 | 6 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 126,515 | 224,632 | 228,098 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -1,253 | -10,459 | -9,041 |
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 11,636 | 434,761 | 331,857 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -3 | -13,109 | -10,192 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 1 | 35 | 23,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -259,470 | -14,890 | 0 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -5,486 | -1,318 | 0 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 19 | 2 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 271,106 | 449,651 | 331,857 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -5,489 | -14,427 | -10,192 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 422,192 | 225,681 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | -11,617 | -8,051 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 22 | 11,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 206,911 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -4,933 | 0 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 11 | ' | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 206,911 | 422,192 | 225,681 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -4,933 | -11,617 | -8,051 |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 5,105 | 33,387 | 51,378 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -4 | -1,491 | -2,141 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 1 | 5 | 7,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -45,739 | -16,944 | 0 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -1,519 | -997 | 0 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 6 | 2 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 50,844 | 50,331 | 51,378 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -1,523 | -2,488 | -2,141 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 48,831 | 39,697 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | -1,190 | -619 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 8 | 7,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 23,977 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -445 | 0 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 3 | ' | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 23,977 | 48,831 | 39,697 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -445 | -1,190 | -619 |
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 279,311 | 1,135,151 | 1,070,624 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -2,358 | -44,775 | -27,120 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 19 | 74 | 64,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -904,821 | -100,530 | 0 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -32,491 | -7,293 | 0 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 60 | 7 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,184,132 | 1,235,681 | 1,070,624 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -34,849 | -52,068 | -27,120 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 127,284 | 1,382,915 | 1,451,813 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -1,100 | -81,818 | -41,674 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 8 | 66 | 65,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,241,883 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -53,163 | 0 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 60 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 1,369,167 | 1,382,915 | 1,451,813 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -54,263 | -81,818 | -41,674 |
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | 0 | ' |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | -1 | ' |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | 0 | 0 | ' |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 0 | 1 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 0 | 1 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | 0 | 0 | ' |
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 24,431 | 43,747 | 42,537 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -97 | -2,055 | -1,965 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 1 | 6 | 6,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -43,212 | -2,525 | 0 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -1,029 | -102 | 0 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 6 | 1 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 67,643 | 46,272 | 42,537 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -1,126 | -2,157 | -1,965 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 208,863 | 150,223 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | -11,052 | -7,285 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 19 | 14,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 183,957 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -7,252 | 0 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 17 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 183,957 | 208,863 | 150,223 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -7,252 | -11,052 | -7,285 |
Collateralized Loan Obligations | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 141,506 | 223,458 | 74,779 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -2,568 | -4,332 | -1,821 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 19 | 33 | 14,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -81,749 | 0 | 0 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -1,684 | 0 | 0 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 12 | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 223,255 | 223,458 | 74,779 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -4,252 | -4,332 | -1,821 |
Corporate debt securities | ' | ' | ' |
Securities available for sale | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | 0 | 0 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -53,490 | -50,644 | -51,138 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | -8,134 | -10,952 | -10,431 |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 8 | 8 | 8,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 53,490 | 50,644 | 51,138 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | -8,134 | -10,952 | -10,431 |
Securities held to maturity | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 64,541 | 72,017 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | -725 | -1,003 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 23 | 25,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 | 0 |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 0 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 0 | 64,541 | 72,017 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | $0 | ($725) | ($1,003) |
Investment_Securities_Maturiti
Investment Securities (Maturities Table) (Details) (USD $) | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '4 years 7 months 25 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | $55,289 | ' | ' |
Over one year through five years | 2,565,605 | ' | ' |
Over five years through ten years | 766,359 | ' | ' |
Over ten years | 84,951 | ' | ' |
Fair Value | 3,472,204 | ' | ' |
Weighted Average Yield, one year or less | 3.34% | ' | ' |
Weighted Average Yield, over one year through five years | 2.23% | ' | ' |
Weighted Average Yield, over five years through ten years | 2.98% | ' | ' |
Weighted Average Yield, over ten years | 2.00% | ' | ' |
Weighted Average Yield, Total | 2.41% | ' | ' |
Amortized Cost | 3,487,784 | ' | ' |
Weighted-Average Yield | 2.41% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 111,138 | ' | ' |
Over one year through five years | 2,075,904 | ' | ' |
Over five years through ten years | 627,705 | ' | ' |
Over ten years | 187,119 | ' | ' |
Held-to-maturity Securities, Fair Value | 3,001,866 | 2,824,240 | 2,487,071 |
Weighted Average Yield, one year or less | 1.49% | ' | ' |
Weighted Average Yield, over one year through five years | 1.86% | ' | ' |
Weighted Average Yield, over five years through ten years | 2.73% | ' | ' |
Weighted Average Yield, over ten years | 5.58% | ' | ' |
Weighted Average Yield, Total | 2.25% | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 3,052,118 | 2,935,688 | 2,551,860 |
Weighted Average Yield | 2.25% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '5 years 2 months 28 days | ' | ' |
US Government Agencies Debt Securities | ' | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 0 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 0 | ' | ' |
Amortized Cost | 0 | ' | ' |
Weighted-Average Yield | 0.00% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 0 | ' | ' |
Over five years through ten years | 24,293 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 24,293 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 25,000 | 25,000 | 25,000 |
Weighted Average Yield | 1.43% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '5 years 6 months 31 days | ' | ' |
US Treasury Securities | ' | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 0 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 0 | ' | ' |
Amortized Cost | 0 | ' | ' |
Weighted-Average Yield | 0.00% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 5,005 | ' | ' |
Over one year through five years | 0 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 5,005 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 5,000 | 5,000 | 4,999 |
Weighted Average Yield | 0.26% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '0 years 9 months 30 days | ' | ' |
U.S. States and political subdivisions debt securities | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '6 years 5 months 17 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 11,238 | ' | ' |
Over one year through five years | 62,611 | ' | ' |
Over five years through ten years | 135,495 | ' | ' |
Over ten years | 31,461 | ' | ' |
Fair Value | 240,805 | ' | ' |
Amortized Cost | 233,228 | ' | ' |
Weighted-Average Yield | 5.21% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 99,753 | ' | ' |
Over one year through five years | 66,844 | ' | ' |
Over five years through ten years | 204,954 | ' | ' |
Over ten years | 187,118 | ' | ' |
Held-to-maturity Securities, Fair Value | 558,669 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 549,850 | 480,703 | 436,860 |
Weighted Average Yield | 4.80% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '10 years 4 months 22 days | ' | ' |
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '4 years 0 months 0 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 1,134 | ' | ' |
Over one year through five years | 820,491 | ' | ' |
Over five years through ten years | 196,549 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 1,018,174 | ' | ' |
Amortized Cost | 998,698 | ' | ' |
Weighted-Average Yield | 2.63% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 496,849 | ' | ' |
Over five years through ten years | 129,648 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 626,497 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 624,605 | 569,960 | ' |
Weighted Average Yield | 2.15% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '4 years 11 months 13 days | ' | ' |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '4 years 1 month 13 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 16,985 | ' | ' |
Over one year through five years | 24,214 | ' | ' |
Over five years through ten years | 44,499 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 85,698 | ' | ' |
Amortized Cost | 86,870 | ' | ' |
Weighted-Average Yield | 2.08% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 6,380 | ' | ' |
Over one year through five years | 15,075 | ' | ' |
Over five years through ten years | 34,296 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 55,751 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 56,020 | 56,596 | 50,352 |
Weighted Average Yield | 1.98% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '4 years 10 months 17 days | ' | ' |
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '4 years 1 month 9 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 9,923 | ' | ' |
Over one year through five years | 1,507,289 | ' | ' |
Over five years through ten years | 80,819 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 1,598,031 | ' | ' |
Amortized Cost | 1,627,871 | ' | ' |
Weighted-Average Yield | 1.96% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 1,283,181 | ' | ' |
Over five years through ten years | 113,149 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 1,396,330 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 1,450,479 | 1,464,732 | 1,510,374 |
Weighted Average Yield | 1.60% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '4 years 4 months 22 days | ' | ' |
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '1 year 8 months 27 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 8 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 8 | ' | ' |
Amortized Cost | 8 | ' | ' |
Weighted-Average Yield | 3.64% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 0 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 0 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 0 | ' | ' |
Weighted Average Yield | 0.00% | ' | ' |
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '3 years 11 months 2 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 142,483 | ' | ' |
Over five years through ten years | 39,550 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 182,033 | ' | ' |
Amortized Cost | 182,151 | ' | ' |
Weighted-Average Yield | 1.82% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 120,997 | ' | ' |
Over five years through ten years | 121,366 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 242,363 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 248,974 | 240,069 | 175,384 |
Weighted Average Yield | 2.28% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '5 years 1 month 20 days | ' | ' |
Collateralized Loan Obligations | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '6 years 4 months 26 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 16,009 | ' | ' |
Over one year through five years | 8,509 | ' | ' |
Over five years through ten years | 269,447 | ' | ' |
Over ten years | 0 | ' | ' |
Fair Value | 293,965 | ' | ' |
Amortized Cost | 297,334 | ' | ' |
Weighted-Average Yield | 2.66% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 0 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 0 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 0 | ' | ' |
Weighted Average Yield | 0.00% | ' | ' |
Corporate debt securities | ' | ' | ' |
Schedule of Available-for-Sale and Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | '13 years 3 months 23 days | ' | ' |
Securities Available for Sale | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 0 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 53,490 | ' | ' |
Fair Value | 53,490 | ' | ' |
Amortized Cost | 61,624 | ' | ' |
Weighted-Average Yield | 0.95% | ' | ' |
Securities Held to Maturity | ' | ' | ' |
One year or less | 0 | ' | ' |
Over one year through five years | 92,958 | ' | ' |
Over five years through ten years | 0 | ' | ' |
Over ten years | 0 | ' | ' |
Held-to-maturity Securities, Fair Value | 92,958 | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $92,190 | $93,628 | $95,052 |
Weighted Average Yield | 2.24% | ' | ' |
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | '3 years 9 months 15 days | ' | ' |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details Textual) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Schedule of Investments [Line Items] | ' | ' | ' |
Available for sale securities, net unrealized losses | ($15,600,000) | ($55,900,000) | ($12,400,000) |
Number of states with aggregate fair value of general obligation bonds greater than $10 million | 11 | ' | ' |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 56,396,000 | 90,220,000 | 57,197,000 |
Number of Single Issuer Trust Preferred Securities With Stated Maturities | 8 | ' | ' |
Percent of trust preferred securities included in fair value of entire investment portfolio | 2.00% | ' | ' |
Available-for-sale | 3,478,420,000 | 3,273,174,000 | 3,299,392,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | 56,396,000 | 90,220,000 | 57,197,000 |
Total number of states general obligation bonds are held | 36 | ' | ' |
Maximum portfolio concentration in municipal securities per corporate investment policy | 20.00% | ' | ' |
Revenue bonds, number owned by corporation | 1 | ' | ' |
Revenue bond, fair value | 500,000 | ' | ' |
Revenue bond, amortized cost | 500,000 | ' | ' |
Investment Securities | ' | ' | ' |
Other investment securities pledged | 3,200,000,000 | 3,200,000,000 | 2,700,000,000 |
Amount of municipal securities with a combined individual state to total municipal outstanding equal to or less than, per corporate policy | 25.00% | ' | ' |
12 states | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
General obligation bonds, aggregate fair value | 10,000,000 | ' | ' |
Collateralized Loan Obligations | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 4,252,000 | 4,332,000 | 1,821,000 |
Available-for-sale | 293,965,000 | 293,687,000 | 158,095,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | $4,252,000 | $4,332,000 | $1,821,000 |
Loans_Schedule_of_accounts_Not
Loans Schedule of accounts, Notes, Loans and Financing Receivables (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Commercial | $9,116,184 | ' | $8,750,109 | $8,771,329 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 1,052,455 | ' | 1,050,584 | 957,863 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 2,928,985 | ' | 2,738,656 | 2,725,517 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 1,356,260 | ' | 1,311,932 | 1,274,132 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 151,967 | ' | 148,313 | 142,319 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Lease Financing | 319,795 | ' | 239,551 | 188,353 | ' | ' |
Loans and Leases Receivable, Gross | 14,969,627 | ' | 14,300,972 | 14,143,423 | ' | ' |
Allowance for loan losses | -142,036 | ' | -141,252 | -147,714 | ' | ' |
Loans and Leases Receivable, Net Amount | 14,827,591 | ' | 14,159,720 | 13,995,709 | ' | ' |
Originated Loans and Leases Receivable Fair Value | 11,458,318 | ' | 10,017,722 | 8,984,845 | ' | ' |
FDIC Indemnification Asset | 43,981 | ' | 61,827 | 83,910 | ' | ' |
Originated Loans | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Commercial | 7,365,499 | ' | 6,648,279 | 5,997,812 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 580,166 | ' | 529,253 | 462,427 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 2,051,587 | ' | 1,727,925 | 1,496,663 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 998,179 | ' | 920,066 | 845,051 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 151,967 | ' | 148,313 | 142,319 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Lease Financing | 319,795 | ' | 239,551 | 188,353 | ' | ' |
Loans and Leases Receivable, Gross | 11,467,193 | ' | 10,213,387 | 9,132,625 | ' | ' |
Allowance for loan losses | -91,950 | ' | -96,484 | -98,645 | ' | ' |
Loans and Leases Receivable, Net Amount | 11,375,243 | ' | 10,116,903 | 9,033,980 | ' | ' |
Acquired Loans | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Commercial | 1,457,903 | ' | 1,725,970 | 2,267,811 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 425,584 | ' | 470,652 | 439,380 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 872,034 | ' | 1,004,569 | 1,221,060 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 268,266 | ' | 294,424 | 322,111 | ' | ' |
Loans and Leases Receivable, Gross | 3,023,787 | ' | 3,495,615 | 4,250,362 | ' | ' |
Allowance for loan losses | -4,977 | ' | -741 | 0 | ' | ' |
Loans and Leases Receivable, Net Amount | 3,018,810 | ' | 3,494,874 | ' | ' | ' |
Originated Loans and Leases Receivable Fair Value | 3,166,228 | ' | ' | 4,250,362 | ' | ' |
Covered Loans | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Commercial | 292,782 | ' | 375,860 | 505,706 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 46,705 | ' | 50,679 | 56,056 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 5,364 | ' | 6,162 | 7,794 | ' | ' |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 89,815 | ' | 97,442 | 106,970 | ' | ' |
Loans and Leases Receivable, Net Amount | 433,538 | ' | 547,943 | 711,367 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 478,647 | ' | 591,970 | 760,436 | ' | ' |
Loans and Leases Receivable, Allowance, Covered | 45,109 | ' | 44,027 | 49,069 | ' | ' |
Level 3 | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Originated Loans and Leases Receivable Fair Value | 11,458,318 | ' | 10,017,722 | 8,984,845 | ' | ' |
Level 3 | Acquired Loans | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Originated Loans and Leases Receivable Fair Value | 3,166,228 | ' | ' | 4,250,362 | ' | ' |
Covered Loans | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance, Covered | 45,109 | 49,970 | 44,027 | 49,069 | 47,945 | 43,255 |
Covered Loans | Covered Loans | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
FDIC Indemnification Asset | 43,981 | ' | ' | ' | ' | ' |
Covered Loans Loss Share Receivable | ' | ' | $61,827 | $83,910 | ' | ' |
Loans_acquired_impaired_loans_
Loans acquired impaired loans accretable yield and carrying amount (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 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Apr. 12, 2013 |
Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Impaired loans | Impaired loans | Citizens Republic Bancorp | Citizens Republic Bancorp | |
Acquired Loans | Acquired Loans | Acquired Impaired Loans | Acquired Impaired Loans | |||||||||
Changes in the Carrying Amount of Accretable Yield for Acquired Impaired Loans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | ' | ' | ' | ' | ' | ' | ' | ' | $714,200 | $1,002,600 | ' | $1,231,172 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | 137,442 | 120,067 | 137,442 | 120,067 | 142,284 | 136,646 | 0 | 0 | ' | ' | 0 | 131,558 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 519,250 | 752,682 | 519,250 | 752,682 | 557,199 | 601,000 | 0 | 0 | ' | ' | 0 | 819,715 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | -12,746 | 9,090 | -24,487 | -9,090 | ' | ' | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer not Accounted for as Debt Securities Carrying Amount Accretion | 12,746 | 9,090 | 24,487 | 9,090 | ' | ' | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | 10,499 | 0 | 30,013 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities F D I C Payments Received under Loss Sharing Agreement | -50,695 | 76,123 | -106,237 | -76,123 | ' | ' | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Disposals of Loans | ($2,595) | $2,401 | ($4,730) | ($2,401) | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Covered_loans_loss_share
Loans Covered loans loss share receivable (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 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Changes in Loss Share Receivable Associated with Covered Loans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross | $14,969,627 | $14,143,423 | $14,969,627 | $14,143,423 | ' | $14,300,972 | ' | ' |
Covered impaired loan [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in Loss Share Receivable Associated with Covered Loans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 637,600 | 915,400 | 637,600 | 915,400 | ' | ' | ' | ' |
Loss Share Receivable | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in Loss Share Receivable Associated with Covered Loans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Covered Loans and Leases Receivable Gross | ' | ' | ' | ' | 54,748 | 61,827 | 95,593 | 113,734 |
Covered Loans and Leasses Receivable Accretion | -4,185 | -5,998 | -10,048 | -14,101 | ' | ' | ' | ' |
Covered Loans and Leases Receivable Increase Due to Impairment | -3,897 | 2,319 | 927 | 7,858 | ' | ' | ' | ' |
Covered Loans and Leases Receivable FDIC Reimbursement | -1,237 | -5,397 | -6,324 | -15,947 | ' | ' | ' | ' |
Covered Loans and Leases Receivable Paid in Full | -1,448 | -2,607 | -2,401 | -7,634 | ' | ' | ' | ' |
Covered Loans Loss Share Receivable | 43,981 | 83,910 | 43,981 | 83,910 | ' | ' | ' | ' |
Covered Loans | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in Loss Share Receivable Associated with Covered Loans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $478,647 | $760,436 | $478,647 | $760,436 | ' | $591,970 | ' | ' |
Loans_Changes_in_the_Carrying_
Loans Changes in the Carrying Amount and Accretable Yield for Covered Loans (Details) (USD $) | 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 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Apr. 12, 2013 |
Covered impaired loan [Member] | Covered impaired loan [Member] | Covered impaired loan [Member] | Covered impaired loan [Member] | Covered impaired loan [Member] | Covered impaired loan [Member] | Covered impaired loan [Member] | Covered impaired loan [Member] | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Acquired Impaired Loans | Citizens Republic Bancorp | Citizens Republic Bancorp | |
Acquired Impaired Loans | Acquired Impaired Loans | |||||||||||||||||
Changes in the carrying amount of accretable yield for covered loans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | $53,655 | $81,758 | $53,655 | $81,758 | $63,003 | $67,282 | $102,130 | $113,288 | $137,442 | $120,067 | $137,442 | $120,067 | $142,284 | $136,646 | $0 | $0 | $0 | $131,558 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 316,481 | 537,257 | 316,481 | 537,257 | 364,488 | 403,692 | 656,670 | 762,386 | 519,250 | 752,682 | 519,250 | 752,682 | 557,199 | 601,000 | 0 | 0 | 0 | 819,715 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | -12,139 | -17,757 | -24,755 | -37,271 | ' | ' | ' | ' | 12,746 | -9,090 | 24,487 | 9,090 | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer not Accounted for as Debt Securities Carrying Amount Accretion | 12,139 | 17,757 | 24,755 | 37,271 | ' | ' | ' | ' | 12,746 | 9,090 | 24,487 | 9,090 | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | 5,549 | 5,413 | 11,606 | 15,982 | ' | ' | ' | ' | 10,499 | 0 | 30,013 | 0 | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities F D I C Payments Received under Loss Sharing Agreement | -60,146 | -137,170 | -111,966 | -262,400 | ' | ' | ' | ' | 50,695 | -76,123 | 106,237 | 76,123 | ' | ' | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Disposals of Loans | ($2,758) | ($8,027) | ($478) | ($10,241) | ' | ' | ' | ' | $2,595 | ($2,401) | $4,730 | $2,401 | ' | ' | ' | ' | ' | ' |
Loans_Schedules_of_past_due_re
Loans Schedules of past due receivables (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Consumer Loans Guaranteed by Government | $2,500,000 | $2,100,000 | $3,100,000 |
FDIC Indemnification Asset | 43,981,000 | 61,827,000 | 83,910,000 |
Covered Loans | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 11,317,000 | 13,922,000 | 21,314,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 2,786,000 | 9,881,000 | 12,908,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 111,523,000 | 143,238,000 | 201,168,000 |
Financing Receivable, Recorded Investment, Past Due | 125,626,000 | 167,041,000 | 235,390,000 |
Financing Receivable, Recorded Investment, Current | 309,040,000 | 363,102,000 | 441,136,000 |
Financing Receivable, Net | 434,666,000 | 530,143,000 | 676,526,000 |
Covered Loans | Covered Loans | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Covered Loans Loss Share Receivable | ' | 61,827,000 | 83,910,000 |
FDIC Indemnification Asset | 43,981,000 | ' | ' |
Covered Loans | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,929,000 | 836,000 | 4,451,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 1,489,000 | 497,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 6,893,000 | 12,957,000 | 13,693,000 |
Financing Receivable, Recorded Investment, Past Due | 9,822,000 | 15,282,000 | 18,641,000 |
Financing Receivable, Recorded Investment, Current | 46,601,000 | 60,955,000 | 67,290,000 |
Financing Receivable, Net | 56,423,000 | 76,237,000 | 85,931,000 |
Covered Loans | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 643,000 | 2,855,000 | 5,751,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,702,000 | 3,443,000 | 10,666,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 79,916,000 | 103,077,000 | 145,368,000 |
Financing Receivable, Recorded Investment, Past Due | 82,261,000 | 109,375,000 | 161,785,000 |
Financing Receivable, Recorded Investment, Current | 134,995,000 | 164,219,000 | 220,306,000 |
Financing Receivable, Net | 217,256,000 | 273,594,000 | 382,091,000 |
Covered Loans | Commercial Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 2,191,000 | 1,308,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 1,917,000 | 0 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 17,278,000 | 20,388,000 | 32,183,000 |
Financing Receivable, Recorded Investment, Past Due | 17,278,000 | 24,496,000 | 33,491,000 |
Financing Receivable, Recorded Investment, Current | 1,823,000 | 1,533,000 | 4,194,000 |
Financing Receivable, Net | 19,101,000 | 26,029,000 | 37,685,000 |
Covered Loans | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Installment | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 25,000 | 33,000 | 17,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 163,000 | 0 | 54,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 44,000 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 232,000 | 33,000 | 71,000 |
Financing Receivable, Recorded Investment, Current | 5,132,000 | 6,130,000 | 7,723,000 |
Financing Receivable, Net | 5,364,000 | 6,163,000 | 7,794,000 |
Covered Loans | Consumer Home Equity Lines Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 579,000 | 544,000 | 1,027,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 540,000 | 1,467,000 | 153,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,036,000 | 1,651,000 | 1,834,000 |
Financing Receivable, Recorded Investment, Past Due | 3,155,000 | 3,662,000 | 3,014,000 |
Financing Receivable, Recorded Investment, Current | 86,661,000 | 93,780,000 | 103,955,000 |
Financing Receivable, Net | 89,816,000 | 97,442,000 | 106,969,000 |
Covered Loans | Consumer Residential Mortgages Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 7,141,000 | 7,463,000 | 8,760,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 381,000 | 1,565,000 | 1,538,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 5,356,000 | 5,165,000 | 8,090,000 |
Financing Receivable, Recorded Investment, Past Due | 12,878,000 | 14,193,000 | 18,388,000 |
Financing Receivable, Recorded Investment, Current | 33,828,000 | 36,485,000 | 37,668,000 |
Financing Receivable, Net | 46,706,000 | 50,678,000 | 56,056,000 |
Originated Loans | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 29,725,000 | 52,585,000 | 33,621,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 8,994,000 | 10,926,000 | 11,748,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 33,255,000 | 35,888,000 | 29,615,000 |
Financing Receivable, Recorded Investment, Past Due | 71,974,000 | 99,399,000 | 74,984,000 |
Financing Receivable, Recorded Investment, Current | 11,395,219,000 | 10,113,988,000 | 9,057,641,000 |
Financing Receivable, Net | 11,467,193,000 | 10,213,387,000 | 9,132,625,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 15,643,000 | 11,176,000 | 11,760,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 36,741,000 | 42,203,000 | 45,463,000 |
Originated Loans | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,094,000 | 8,941,000 | 732,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,087,000 | 994,000 | 587,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 6,029,000 | 10,622,000 | 3,537,000 |
Financing Receivable, Recorded Investment, Past Due | 8,210,000 | 20,557,000 | 4,856,000 |
Financing Receivable, Recorded Investment, Current | 4,849,405,000 | 4,119,010,000 | 3,473,334,000 |
Financing Receivable, Net | 4,857,615,000 | 4,139,567,000 | 3,478,190,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 80,000 | 151,000 | 10,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,991,000 | 11,323,000 | 9,834,000 |
Originated Loans | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,010,000 | 4,507,000 | 7,950,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,934,000 | 2,400,000 | 2,413,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 14,333,000 | 9,688,000 | 11,584,000 |
Financing Receivable, Recorded Investment, Past Due | 18,277,000 | 16,595,000 | 21,947,000 |
Financing Receivable, Recorded Investment, Current | 2,079,741,000 | 2,153,192,000 | 2,192,910,000 |
Financing Receivable, Net | 2,098,018,000 | 2,169,787,000 | 2,214,857,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 6,633,000 | 460,000 | 1,602,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,028,000 | 14,229,000 | 18,954,000 |
Originated Loans | Commercial Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 351,000 | 523,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 21,000 | 537,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 66,000 | 430,000 |
Financing Receivable, Recorded Investment, Past Due | 0 | 438,000 | 1,490,000 |
Financing Receivable, Recorded Investment, Current | 409,866,000 | 338,487,000 | 303,275,000 |
Financing Receivable, Net | 409,866,000 | 338,925,000 | 304,765,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 348,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 53,000 | 122,000 | 147,000 |
Originated Loans | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 103,000 | 902,000 | 0 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 103,000 | 902,000 | 0 |
Financing Receivable, Recorded Investment, Current | 319,692,000 | 238,649,000 | 188,353,000 |
Financing Receivable, Net | 319,795,000 | 239,551,000 | 188,353,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 |
Originated Loans | Installment | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 11,205,000 | 15,433,000 | 9,141,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 3,164,000 | 4,050,000 | 3,080,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 4,041,000 | 4,462,000 | 5,021,000 |
Financing Receivable, Recorded Investment, Past Due | 18,410,000 | 23,945,000 | 17,242,000 |
Financing Receivable, Recorded Investment, Current | 2,033,177,000 | 1,703,980,000 | 1,479,421,000 |
Financing Receivable, Net | 2,051,587,000 | 1,727,925,000 | 1,496,663,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3,505,000 | 3,735,000 | 4,184,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,334,000 | 3,681,000 | 4,146,000 |
Originated Loans | Consumer Home Equity Lines Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,549,000 | 1,864,000 | 1,080,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 604,000 | 918,000 | 1,048,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 815,000 | 965,000 | 1,122,000 |
Financing Receivable, Recorded Investment, Past Due | 2,968,000 | 3,747,000 | 3,250,000 |
Financing Receivable, Recorded Investment, Current | 995,211,000 | 916,319,000 | 841,801,000 |
Financing Receivable, Net | 998,179,000 | 920,066,000 | 845,051,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 535,000 | 418,000 | 710,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,329,000 | 1,819,000 | 1,841,000 |
Originated Loans | Consumer Credit Card | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 677,000 | 729,000 | 817,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 385,000 | 471,000 | 350,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 510,000 | 735,000 | 783,000 |
Financing Receivable, Recorded Investment, Past Due | 1,572,000 | 1,935,000 | 1,950,000 |
Financing Receivable, Recorded Investment, Current | 150,395,000 | 146,378,000 | 140,369,000 |
Financing Receivable, Net | 151,967,000 | 148,313,000 | 142,319,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 258,000 | 404,000 | 423,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 446,000 | 558,000 | 433,000 |
Originated Loans | Consumer Residential Mortgages Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 13,087,000 | 19,858,000 | 13,378,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,820,000 | 2,072,000 | 3,733,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 7,527,000 | 9,350,000 | 7,138,000 |
Financing Receivable, Recorded Investment, Past Due | 22,434,000 | 31,280,000 | 24,249,000 |
Financing Receivable, Recorded Investment, Current | 557,732,000 | 497,973,000 | 438,178,000 |
Financing Receivable, Net | 580,166,000 | 529,253,000 | 462,427,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 4,632,000 | 6,008,000 | 4,483,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 10,560,000 | 10,471,000 | 10,108,000 |
Acquired Loans | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 14,565,000 | ' | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 7,993,000 | ' | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 39,092,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 61,650,000 | ' | ' |
Financing Receivable, Recorded Investment, Current | 2,962,137,000 | ' | ' |
Financing Receivable, Net | 3,023,787,000 | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 2,551,000 | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,982,000 | ' | ' |
Acquired Loans | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,164,000 | ' | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 511,000 | ' | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 4,239,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 5,914,000 | ' | ' |
Financing Receivable, Recorded Investment, Current | 654,347,000 | ' | ' |
Financing Receivable, Net | 660,261,000 | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 40,000 | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 787,000 | ' | ' |
Acquired Loans | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,678,000 | ' | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,162,000 | ' | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 23,604,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 26,444,000 | ' | ' |
Financing Receivable, Recorded Investment, Current | 757,299,000 | ' | ' |
Financing Receivable, Net | 783,743,000 | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,736,000 | ' | ' |
Acquired Loans | Commercial Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | ' | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | ' | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 666,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 666,000 | ' | ' |
Financing Receivable, Recorded Investment, Current | 13,233,000 | ' | ' |
Financing Receivable, Net | 13,899,000 | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | ' | ' |
Acquired Loans | Installment | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 6,148,000 | ' | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,859,000 | ' | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,296,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 9,303,000 | ' | ' |
Financing Receivable, Recorded Investment, Current | 862,731,000 | ' | ' |
Financing Receivable, Net | 872,034,000 | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,021,000 | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 419,000 | ' | ' |
Acquired Loans | Consumer Home Equity Lines Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 5,417,000 | ' | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 3,089,000 | ' | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,989,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 10,495,000 | ' | ' |
Financing Receivable, Recorded Investment, Current | 257,771,000 | ' | ' |
Financing Receivable, Net | 268,266,000 | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 643,000 | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 534,000 | ' | ' |
Acquired Loans | Consumer Residential Mortgages Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 158,000 | ' | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,372,000 | ' | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 7,298,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 8,828,000 | ' | ' |
Financing Receivable, Recorded Investment, Current | 416,756,000 | ' | ' |
Financing Receivable, Net | 425,584,000 | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 847,000 | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,506,000 | ' | ' |
Acquired Loans Noncovered | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 32,793,000 | 38,159,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 13,578,000 | 15,015,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 45,133,000 | 39,660,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 91,504,000 | 92,834,000 |
Financing Receivable, Recorded Investment, Current | ' | 3,404,111,000 | 4,166,058,000 |
Financing Receivable, Net | ' | 3,495,615,000 | 4,258,892,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | 4,148,000 | 920,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 4,007,000 | 8,927,000 |
Acquired Loans Noncovered | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 1,295,000 | 607,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 862,000 | 85,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 3,744,000 | 1,914,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 5,901,000 | 2,606,000 |
Financing Receivable, Recorded Investment, Current | ' | 788,178,000 | 1,157,738,000 |
Financing Receivable, Net | 660,261,000 | 794,079,000 | 1,160,344,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | 40,000 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 795,000 | 2,245,000 |
Acquired Loans Noncovered | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 5,603,000 | 6,731,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 5,281,000 | 6,875,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 26,366,000 | 24,775,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 37,250,000 | 38,381,000 |
Financing Receivable, Recorded Investment, Current | ' | 881,395,000 | 1,059,743,000 |
Financing Receivable, Net | 783,743,000 | 918,645,000 | 1,098,124,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | 403,000 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 651,000 | 494,000 |
Acquired Loans Noncovered | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Installment | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | ' | 11,576,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | ' | 2,440,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | ' | 2,252,000 |
Financing Receivable, Recorded Investment, Past Due | ' | ' | 16,268,000 |
Financing Receivable, Recorded Investment, Current | ' | ' | 1,204,792,000 |
Financing Receivable, Net | ' | ' | 1,221,060,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | ' | 151,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | ' | 715,000 |
Acquired Loans Noncovered | Consumer Home Equity Lines Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 14,528,000 | 4,785,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 4,076,000 | 1,579,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 3,354,000 | 2,404,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 21,958,000 | 8,768,000 |
Financing Receivable, Recorded Investment, Current | ' | 982,611,000 | 313,427,000 |
Financing Receivable, Net | ' | 1,004,569,000 | 322,195,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | 2,263,000 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 679,000 | 5,396,000 |
Acquired Loans Noncovered | Consumer Residential Mortgages Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 4,774,000 | 14,460,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 1,933,000 | 4,036,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 3,606,000 | 7,591,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 10,313,000 | 26,087,000 |
Financing Receivable, Recorded Investment, Current | ' | 284,111,000 | 414,307,000 |
Financing Receivable, Net | ' | 294,424,000 | 440,394,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | 1,039,000 | 45,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 1,300,000 | 77,000 |
Acquired Loans Noncovered | Mortgage Loans on Real Estate | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 3,918,000 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 1,426,000 | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 8,063,000 | ' |
Financing Receivable, Recorded Investment, Past Due | ' | 13,407,000 | ' |
Financing Receivable, Recorded Investment, Current | ' | 457,245,000 | ' |
Financing Receivable, Net | ' | 470,652,000 | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | 403,000 | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 582,000 | ' |
Acquired loan type [Domain] | Commercial Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 2,675,000 | 0 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 0 | 0 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 0 | 724,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 2,675,000 | 724,000 |
Financing Receivable, Recorded Investment, Current | ' | 10,571,000 | 16,051,000 |
Financing Receivable, Net | ' | 13,246,000 | 16,775,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | 0 | 724,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | $0 | $0 |
Loans_Financing_receivables_cr
Loans Financing receivables credit quality indicators (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Covered Loans | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | $434,666 | $530,143 | $676,526 |
Covered Loans | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 56,423 | 76,237 | 85,931 |
Covered Loans | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 217,256 | 273,594 | 382,091 |
Covered Loans | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 19,101 | 26,029 | 37,685 |
Covered Loans | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 1,015 | 968 | 1,001 |
Covered Loans | Grade Two | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Four | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 38,892 | 41,115 | 44,148 |
Covered Loans | Grade Four | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 104,455 | 113,863 | 131,889 |
Covered Loans | Grade Four | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 707 | 601 | 556 |
Covered Loans | Grade Four | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Five | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 999 | 427 | 661 |
Covered Loans | Grade Five | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 3,984 | 6,219 | 24,255 |
Covered Loans | Grade Five | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 1,364 |
Covered Loans | Grade Five | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Six | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 15,517 | 31,621 | 38,065 |
Covered Loans | Grade Six | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 108,637 | 153,318 | 224,533 |
Covered Loans | Grade Six | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 18,045 | 23,208 | 33,856 |
Covered Loans | Grade Six | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Seven | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 2,106 | 2,056 |
Covered Loans | Grade Seven | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 180 | 194 | 1,414 |
Covered Loans | Grade Seven | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 349 | 2,220 | 1,909 |
Covered Loans | Grade Seven | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 3,495,615 | 4,258,892 |
Acquired Loans Noncovered | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 660,261 | 794,079 | 1,160,344 |
Acquired Loans Noncovered | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 783,743 | 918,645 | 1,098,124 |
Acquired Loans Noncovered | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 13,899 | 13,246 | 16,775 |
Acquired Loans Noncovered | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade One | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 700 | 0 | 0 |
Acquired Loans Noncovered | Grade One | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade One | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade One | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Two | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 1,741 | 107 |
Acquired Loans Noncovered | Grade Two | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 703 | 0 |
Acquired Loans Noncovered | Grade Two | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Two | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Three | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 35,608 | 79,634 | 24,511 |
Acquired Loans Noncovered | Grade Three | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 26,652 | 29,224 | 28,509 |
Acquired Loans Noncovered | Grade Three | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Three | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Four | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 553,293 | 643,495 | 1,050,350 |
Acquired Loans Noncovered | Grade Four | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 651,011 | 722,307 | 848,214 |
Acquired Loans Noncovered | Grade Four | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 13,899 | 13,246 | 15,558 |
Acquired Loans Noncovered | Grade Four | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Five | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 41,213 | 46,807 | 58,399 |
Acquired Loans Noncovered | Grade Five | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 50,267 | 93,499 | 125,154 |
Acquired Loans Noncovered | Grade Five | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 1,217 |
Acquired Loans Noncovered | Grade Five | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Six | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 29,447 | 22,402 | 26,977 |
Acquired Loans Noncovered | Grade Six | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 55,813 | 72,912 | 96,247 |
Acquired Loans Noncovered | Grade Six | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Six | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Seven | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Seven | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Seven | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans Noncovered | Grade Seven | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | 0 | 0 |
Legacy Loans | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 4,857,615 | ' | ' |
Legacy Loans | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 2,098,018 | ' | ' |
Legacy Loans | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 409,866 | ' | ' |
Legacy Loans | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 319,795 | ' | ' |
Legacy Loans | Grade One | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 33,855 | ' | ' |
Legacy Loans | Grade One | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Legacy Loans | Grade One | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Legacy Loans | Grade One | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 9,408 | ' | ' |
Legacy Loans | Grade Two | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 134,682 | ' | ' |
Legacy Loans | Grade Two | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 3,610 | ' | ' |
Legacy Loans | Grade Two | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Legacy Loans | Grade Two | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 10,971 | ' | ' |
Legacy Loans | Grade Three | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 1,100,807 | ' | ' |
Legacy Loans | Grade Three | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 290,652 | ' | ' |
Legacy Loans | Grade Three | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 36,954 | ' | ' |
Legacy Loans | Grade Three | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 55,648 | ' | ' |
Legacy Loans | Grade Four | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 3,439,210 | ' | ' |
Legacy Loans | Grade Four | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 1,725,808 | ' | ' |
Legacy Loans | Grade Four | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 371,488 | ' | ' |
Legacy Loans | Grade Four | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 236,324 | ' | ' |
Legacy Loans | Grade Five | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 100,776 | ' | ' |
Legacy Loans | Grade Five | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 29,382 | ' | ' |
Legacy Loans | Grade Five | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Legacy Loans | Grade Five | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 7,092 | ' | ' |
Legacy Loans | Grade Six | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 48,285 | ' | ' |
Legacy Loans | Grade Six | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 48,566 | ' | ' |
Legacy Loans | Grade Six | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 1,424 | ' | ' |
Legacy Loans | Grade Six | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 352 | ' | ' |
Legacy Loans | Grade Seven | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Legacy Loans | Grade Seven | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Legacy Loans | Grade Seven | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Legacy Loans | Grade Seven | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 0 | ' | ' |
Originated Loans | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 11,467,193 | 10,213,387 | 9,132,625 |
Originated Loans | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 4,857,615 | 4,139,567 | 3,478,190 |
Originated Loans | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 2,098,018 | 2,169,787 | 2,214,857 |
Originated Loans | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 338,925 | 304,765 |
Originated Loans | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | 319,795 | 239,551 | 188,353 |
Originated Loans | Grade One | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 34,909 | 40,185 |
Originated Loans | Grade One | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 241 | 1,250 |
Originated Loans | Grade One | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 0 | 0 |
Originated Loans | Grade One | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 9,271 | 12,815 |
Originated Loans | Grade Two | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 108,709 | 124,748 |
Originated Loans | Grade Two | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 3,730 | 3,859 |
Originated Loans | Grade Two | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 0 | 0 |
Originated Loans | Grade Two | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 2,900 | 709 |
Originated Loans | Grade Three | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 802,624 | 721,517 |
Originated Loans | Grade Three | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 315,150 | 297,052 |
Originated Loans | Grade Three | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 25,632 | 19,119 |
Originated Loans | Grade Three | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 54,446 | 36,743 |
Originated Loans | Grade Four | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 3,083,458 | 2,483,972 |
Originated Loans | Grade Four | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 1,759,383 | 1,826,543 |
Originated Loans | Grade Four | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 306,795 | 282,034 |
Originated Loans | Grade Four | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 167,022 | 134,834 |
Originated Loans | Grade Five | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 71,857 | 41,698 |
Originated Loans | Grade Five | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 34,969 | 32,705 |
Originated Loans | Grade Five | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 267 | 1,363 |
Originated Loans | Grade Five | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 5,750 | 3,042 |
Originated Loans | Grade Six | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 38,010 | 66,070 |
Originated Loans | Grade Six | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 56,314 | 53,448 |
Originated Loans | Grade Six | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 6,231 | 2,249 |
Originated Loans | Grade Six | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 162 | 210 |
Originated Loans | Grade Seven | Commercial and Industrial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 0 | 0 |
Originated Loans | Grade Seven | Commercial Real Estate Other Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 0 | 0 |
Originated Loans | Grade Seven | Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | 0 | 0 |
Originated Loans | Grade Seven | Commercial Leases Financing Receivable | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Financing Receivable, Net | ' | $0 | $0 |
Loans_Loans_narrative_Details
Loans Loans narrative (Details) (USD $) | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Loans narrative [Abstract] | ' | ' | ' |
Time period for non-payment of loans that are placed on non-accrual status | '90 days | ' | ' |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | ($6.10) | ($6.60) | ($6.70) |
Days past due for nonaccrual status credit card loans | '120 days | ' | ' |
Allowance_for_Loan_Losses_Sche
Allowance for Loan Losses Schedule of Credit Losses Related to Financing Receivables, Current and Non-Current (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 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | $3,800 | ' | $9,400 | ' | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | -15,253 | -7,309 | -29,790 | -17,256 | ' | ' | ' | ' |
Originated Loans | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7,802 | 6,468 | 7,802 | 6,468 | ' | 6,146 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 84,148 | 92,177 | 84,148 | 92,177 | ' | 90,338 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 91,950 | 98,645 | 91,950 | 98,645 | 92,116 | 96,484 | 98,843 | 98,942 |
Financing Receivable, Individually Evaluated for Impairment | 94,567 | 96,286 | 94,567 | 96,286 | ' | 87,764 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 11,372,626 | 9,036,339 | 11,372,626 | 9,036,339 | ' | 10,125,623 | ' | ' |
Financing Receivable, Net | 11,467,193 | 9,132,625 | 11,467,193 | 9,132,625 | ' | 10,213,387 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | -11,148 | -10,969 | -24,308 | -21,745 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 4,989 | 7,620 | 10,127 | 12,489 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | 5,993 | 3,151 | 9,647 | 8,959 | ' | ' | ' | ' |
Originated Loans | Consumer Residential Mortgages Financing Receivable | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Net | 580,166 | 462,427 | 580,166 | 462,427 | ' | 529,253 | ' | ' |
Originated Loans | Consumer Credit Card | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Net | 151,967 | 142,319 | 151,967 | 142,319 | ' | 148,313 | ' | ' |
Originated Loans | Commercial Portfolio Segmen | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 3,169 | ' | 3,169 | ' | 3,235 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 38,164 | 41,998 | 38,164 | 41,998 | ' | 39,746 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 43,256 | 45,167 | 43,256 | 45,167 | 40,175 | 42,981 | 40,427 | 36,209 |
Financing Receivable, Individually Evaluated for Impairment | 10,404 | 9,439 | 10,404 | 9,439 | ' | 8,053 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 4,847,211 | 3,468,751 | 4,847,211 | 3,468,751 | ' | 4,131,514 | ' | ' |
Financing Receivable, Net | 4,857,615 | 3,478,190 | 4,857,615 | 3,478,190 | ' | 4,139,567 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | -361 | -2,000 | -5,435 | -4,103 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 372 | 3,528 | 1,369 | 4,583 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | 3,070 | 3,212 | 4,341 | 8,478 | ' | ' | ' | ' |
Originated Loans | Commercial Real Estate Portfolio Segment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 1,010 | ' | 1,010 | ' | 229 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 8,618 | 15,813 | 8,618 | 15,813 | ' | 12,036 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 8,730 | 16,823 | 8,730 | 16,823 | 13,385 | 12,265 | 18,399 | 20,126 |
Financing Receivable, Individually Evaluated for Impairment | 25,484 | 24,400 | 25,484 | 24,400 | ' | 20,616 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 2,072,534 | 2,190,457 | 2,072,534 | 2,190,457 | ' | 2,149,171 | ' | ' |
Financing Receivable, Net | 2,098,018 | 2,214,857 | 2,098,018 | 2,214,857 | ' | 2,169,787 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | -2,696 | -750 | -2,775 | -803 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 30 | 203 | 34 | 335 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | -1,989 | -1,029 | -794 | -2,835 | ' | ' | ' | ' |
Originated Loans | Commercial Construction Financing Receivable Portfolio Segment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 0 | ' | 0 | ' | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,314 | 2,044 | 1,314 | 2,044 | ' | 2,810 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 1,323 | 2,044 | 1,323 | 2,044 | 1,470 | 2,810 | 2,741 | 3,821 |
Financing Receivable, Individually Evaluated for Impairment | 53 | 1,005 | 53 | 1,005 | ' | 906 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 409,813 | 303,760 | 409,813 | 303,760 | ' | 338,019 | ' | ' |
Financing Receivable, Net | 409,866 | 304,765 | 409,866 | 304,765 | ' | 338,925 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | 0 | 0 | -516 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 2 | 31 | 30 | 89 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | -149 | -728 | -1,517 | -1,350 | ' | ' | ' | ' |
Originated Loans | Finance Leases Portfolio Segment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | ' | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,028 | 909 | 1,028 | 909 | ' | 1,081 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 1,028 | 909 | 1,028 | 909 | 1,027 | 1,081 | 1,129 | 639 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | ' | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 319,795 | 188,353 | 319,795 | 188,353 | ' | 239,551 | ' | ' |
Financing Receivable, Net | 319,795 | 188,353 | 319,795 | 188,353 | ' | 239,551 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | -1,237 | 0 | -1,237 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 372 | 0 | 372 | 89 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | -371 | 1,017 | -425 | 1,418 | ' | ' | ' | ' |
Originated Loans | Installment Financing Receivable Portfolio Segment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 557 | ' | 557 | ' | 1,014 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 11,235 | 8,168 | 11,235 | 8,168 | ' | 10,921 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 12,243 | 8,725 | 12,243 | 8,725 | 11,604 | 11,935 | 9,151 | 11,154 |
Financing Receivable, Individually Evaluated for Impairment | 24,394 | 30,140 | 24,394 | 30,140 | ' | 27,285 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 2,027,193 | 1,466,523 | 2,027,193 | 1,466,523 | ' | 1,700,640 | ' | ' |
Financing Receivable, Net | 2,051,587 | 1,496,663 | 2,051,587 | 1,496,663 | ' | 1,727,925 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | -4,076 | -3,612 | -8,660 | -8,206 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 2,741 | 2,739 | 5,490 | 5,235 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | 1,974 | 447 | 3,478 | 542 | ' | ' | ' | ' |
Originated Loans | Home Equity Receivable Portfolio Segment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 197 | ' | 197 | ' | 223 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 13,702 | 13,069 | 13,702 | 13,069 | ' | 12,677 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 13,903 | 13,266 | 13,903 | 13,266 | 13,160 | 12,900 | 14,568 | 13,724 |
Financing Receivable, Individually Evaluated for Impairment | 6,956 | 6,819 | 6,956 | 6,819 | ' | 6,726 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 991,223 | 838,232 | 991,223 | 838,232 | ' | 913,340 | ' | ' |
Financing Receivable, Net | 998,179 | 845,051 | 998,179 | 845,051 | ' | 920,066 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | -1,870 | -1,497 | -3,279 | -3,334 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 966 | 599 | 1,870 | 1,082 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | 1,647 | -404 | 2,412 | 1,794 | ' | ' | ' | ' |
Originated Loans | Credit Card Receivables Portfolio Segment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 255 | ' | 255 | ' | 312 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 6,967 | 7,033 | 6,967 | 7,033 | ' | 7,428 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 7,328 | 7,288 | 7,328 | 7,288 | 6,851 | 7,740 | 7,069 | 7,384 |
Financing Receivable, Individually Evaluated for Impairment | 979 | 1,262 | 979 | 1,262 | ' | 1,112 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 150,988 | 141,057 | 150,988 | 141,057 | ' | 147,201 | ' | ' |
Financing Receivable, Net | 151,967 | 142,319 | 151,967 | 142,319 | ' | 148,313 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | -1,311 | -1,459 | -2,766 | -2,862 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 439 | 469 | 857 | 982 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | 1,349 | 1,209 | 1,497 | 1,784 | ' | ' | ' | ' |
Originated Loans | Residential Portfolio Segment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 1,280 | ' | 1,280 | ' | 1,133 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 3,120 | 3,143 | 3,120 | 3,143 | ' | 3,639 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 4,139 | 4,423 | 4,139 | 4,423 | 4,444 | 4,772 | 5,359 | 5,885 |
Financing Receivable, Individually Evaluated for Impairment | 26,297 | 23,221 | 26,297 | 23,221 | ' | 23,066 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 553,869 | 439,206 | 553,869 | 439,206 | ' | 506,187 | ' | ' |
Financing Receivable, Net | 580,166 | 462,427 | 580,166 | 462,427 | ' | 529,253 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | -834 | -414 | -1,393 | -684 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 67 | 51 | 105 | 94 | ' | ' | ' | ' |
Provision for Loan, Lease, and Other Losses | 462 | -573 | 655 | -872 | ' | ' | ' | ' |
Originated Loans | Commercial and Industrial | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 5,092 | ' | 5,092 | ' | ' | ' | ' | ' |
Financing Receivable, Net | 4,857,615 | 3,478,190 | 4,857,615 | 3,478,190 | ' | 4,139,567 | ' | ' |
Originated Loans | Commercial Real Estate | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 112 | ' | 112 | ' | ' | ' | ' | ' |
Originated Loans | Commercial Real Estate Construction Financing Receivable | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 9 | ' | 9 | ' | ' | ' | ' | ' |
Financing Receivable, Net | ' | 304,765 | ' | 304,765 | ' | 338,925 | ' | ' |
Originated Loans | Installment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Net | 2,051,587 | 1,496,663 | 2,051,587 | 1,496,663 | ' | 1,727,925 | ' | ' |
Originated Loans | Home equity lines | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Net | 998,179 | 845,051 | 998,179 | 845,051 | ' | 920,066 | ' | ' |
Consumer Residential Mortgages Financing Receivable | Originated Consumer Loans | Consumer Residential Mortgages Financing Receivable | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,019 | ' | 1,019 | ' | ' | ' | ' | ' |
Consumer Credit Card | Originated Consumer Loans | Consumer Credit Card | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 361 | ' | 361 | ' | ' | ' | ' | ' |
Consumer Installment | Originated Consumer Loans | Installment | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,008 | ' | 1,008 | ' | ' | ' | ' | ' |
Home equity lines | Originated Consumer Loans | Home equity lines | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $201 | ' | $201 | ' | ' | ' | ' | ' |
Allowance_for_Loan_Losses_allo
Allowance for Loan Losses allowance for acquired impaired loan losses (Details) (USD $) | 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, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | |||||
allowance for acquired impaired loan losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | $15,253 | $7,309 | $29,790 | $17,256 | $2,003 | $4,236 | ' | ' |
Financing Receivable, Allowance for Credit Losses | ' | ' | ' | ' | 4,977 | 4,977 | 2,974 | 741 |
Allowance for Loan and Lease Losses, Write-offs | ' | ' | ' | ' | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | ' | ' | ' | ' | $0 | $0 | ' | ' |
Allowance_for_Loan_Losses_Sche1
Allowance for Loan Losses Schedule of Credit Losses on Financing Receivables, Current Period (Details) (Covered Loans, USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Covered Loans | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of the period | $49,970 | $47,945 | $44,027 | $43,255 |
Provision for Loan Losses Before Benefit Attributable to FDIC Loss Share Agreements | -451 | 6,477 | 7,428 | 16,154 |
Benefit Attributable to FDIC Loss Share Agreements | 3,897 | -2,319 | -927 | -7,858 |
Provision for Loan Lease and Other Losses Covered | 3,446 | 4,158 | 6,501 | 8,296 |
Increase in Indemnification Asset | -3,897 | 2,319 | 927 | 7,858 |
Allowance for Loan and Lease Losses, Write-offs | -4,410 | -5,353 | -6,346 | -10,340 |
Balance at end of the period | $45,109 | $49,069 | $45,109 | $49,069 |
Allowance_for_Loan_Losses_Impa
Allowance for Loan Losses Impaired Financing Receivables (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | $6,531 | ' | ' | |||
Originated Loans | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 7,802 | [1] | 6,468 | [1] | 6,146 | [1] |
Impaired Financing Receivable, Recorded Investment | 94,567 | [1] | 96,286 | [1] | 87,764 | [1] |
Impaired Financing Receivable, Unpaid Principal Balance | 110,385 | [1] | 113,529 | [1] | 104,244 | [1] |
Impaired Financing Receivable, Average Recorded Investment | 94,651 | [1] | 105,308 | [1] | 93,702 | [1] |
Originated Loans | Commercial and Industrial | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,538 | [1] | 1,031 | [1] | 2,503 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 4,980 | [1] | 3,423 | [1] | 6,679 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 3,543 | [1] | 3,075 | [1] | 7,256 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 7,866 | [1] | 8,408 | [1] | 5,551 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 11,562 | [1] | 11,553 | [1] | 7,428 | [1] |
Impaired Financing Receivable, Related Allowance | ' | 3,169 | [1] | 3,235 | [1] | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 8,071 | [1] | 10,469 | [1] | 5,009 | [1] |
Originated Loans | Commercial Real Estate | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 20,635 | [1] | 17,021 | [1] | 17,871 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 26,026 | [1] | 23,892 | [1] | 23,709 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 22,249 | [1] | 19,143 | [1] | 18,639 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 4,849 | [1] | 7,379 | [1] | 2,744 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 4,851 | [1] | 7,416 | [1] | 2,870 | [1] |
Impaired Financing Receivable, Related Allowance | ' | 1,010 | [1] | 229 | [1] | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 829 | [1] | 7,558 | [1] | 2,836 | [1] |
Originated Loans | Commercial Real Estate Construction Financing Receivable | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 53 | [1] | 1,005 | [1] | 906 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 76 | [1] | 1,282 | [1] | 1,179 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 256 | [1] | 2,294 | [1] | 1,035 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | [1] | 0 | [1] | 0 | [1] |
Impaired Financing Receivable, Related Allowance | ' | 0 | [1] | 0 | [1] | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] |
Originated Loans | Installment | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 4,510 | [1] | 3,464 | [1] | 2,813 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 4,620 | [1] | 4,882 | [1] | 3,978 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 4,636 | [1] | 3,838 | [1] | 3,338 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 19,884 | [1] | 26,676 | [1] | 24,472 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 20,673 | [1] | 26,772 | [1] | 24,558 | [1] |
Impaired Financing Receivable, Related Allowance | ' | 557 | [1] | 1,014 | [1] | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 20,498 | [1] | 27,032 | [1] | 24,985 | [1] |
Originated Loans | Home equity lines | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,041 | [1] | 1,158 | [1] | 1,018 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,047 | [1] | 1,481 | [1] | 1,347 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,067 | [1] | 1,217 | [1] | 1,079 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 5,915 | [1] | 5,661 | [1] | 5,707 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 6,145 | [1] | 5,661 | [1] | 5,707 | [1] |
Impaired Financing Receivable, Related Allowance | ' | 197 | [1] | 223 | [1] | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 5,995 | [1] | 5,784 | [1] | 5,874 | [1] |
Originated Loans | Consumer Credit Card | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 34 | [1] | 57 | [1] | 49 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 34 | [1] | 57 | [1] | 49 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 48 | [1] | 76 | [1] | 91 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 945 | [1] | 1,205 | [1] | 1,064 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 945 | [1] | 1,205 | [1] | 1,064 | [1] |
Impaired Financing Receivable, Related Allowance | ' | 255 | [1] | 312 | [1] | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,019 | [1] | 1,310 | [1] | 1,238 | [1] |
Originated Loans | Consumer Residential Mortgages Financing Receivable | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 12,729 | [1] | 10,682 | [1] | 10,250 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 15,748 | [1] | 13,294 | [1] | 12,778 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 12,828 | [1] | 10,934 | [1] | 10,258 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 13,568 | [1] | 12,539 | [1] | 12,816 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 13,678 | [1] | 12,611 | [1] | 12,898 | [1] |
Impaired Financing Receivable, Related Allowance | ' | 1,280 | [1] | 1,133 | [1] | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 13,612 | [1] | 12,578 | [1] | 12,064 | [1] |
Originated Loans | Total impaired loans with no related allowance | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 41,540 | [1] | 34,418 | [1] | 35,410 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 52,531 | [1] | 48,311 | [1] | 49,719 | [1] |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 44,627 | [1] | 40,577 | [1] | 41,696 | [1] |
Originated Loans | Total impaired loans with a related allowance | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 53,027 | [1] | 61,868 | [1] | 52,354 | [1] |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 57,854 | [1] | 65,218 | [1] | 54,525 | [1] |
Impaired Financing Receivable, Related Allowance | 7,802 | [1] | 6,468 | [1] | 6,146 | [1] |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 50,024 | [1] | 64,731 | [1] | 52,006 | [1] |
Originated Loans | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7,802 | 6,468 | 6,146 | |||
Impaired Financing Receivable, Related Allowance | 5,134 | ' | ' | |||
Originated Loans | Commercial and Industrial | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 5,092 | ' | ' | |||
Originated Loans | Commercial Real Estate | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 112 | ' | ' | |||
Originated Loans | Commercial Real Estate Construction Financing Receivable | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 9 | ' | ' | |||
Consumer Residential Mortgages Financing Receivable | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 1,019 | ' | ' | |||
Consumer Residential Mortgages Financing Receivable | Originated Consumer Loans | Consumer Residential Mortgages Financing Receivable | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,019 | ' | ' | |||
Consumer Credit Card | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 361 | ' | ' | |||
Consumer Credit Card | Originated Consumer Loans | Consumer Credit Card | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 361 | ' | ' | |||
Consumer Installment | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 1,022 | ' | ' | |||
Consumer Installment | Originated Consumer Loans | Installment | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,008 | ' | ' | |||
Home equity lines | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 201 | ' | ' | |||
Home equity lines | Originated Consumer Loans | Home equity lines | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $201 | ' | ' | |||
[1] | Note 1: These tables exclude loans fully charged off.Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. |
Allowance_for_Loan_Losses_Trou
Allowance for Loan Losses Troubled Debt Restructuring on Financing Receivables (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 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 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | 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, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Commercial | Commercial | Commercial | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate Construction Financing Receivable | Commercial Real Estate Construction Financing Receivable | Commercial Real Estate Construction Financing Receivable | Total commercial | Total commercial | Total commercial | Installment | Installment | Installment | Home Equity Line of Credit | Home Equity Line of Credit | Home Equity Line of Credit | Consumer Credit Card | Consumer Credit Card | Consumer Credit Card | Residential Mortgages | Residential Mortgages | Residential Mortgages | Total consumer | Total consumer | Total consumer | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Loans Commercial | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Consumer Loans | Originated Loans | Originated Loans | Originated Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired Loans | Acquired loan type [Domain] | Acquired loan type [Domain] | Acquired loan type [Domain] | Covered Loans | Covered Loans | Covered Loans | Covered Loans | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Loans Commercial | Covered Consumer Loans | Covered Consumer Loans | Covered Consumer Loans | Covered Consumer Loans | Covered Consumer Loans | Covered Consumer Loans | Covered Consumer Loans | Covered TDR Loans | Covered TDR Loans | Covered TDR Loans | Covered TDR Loans | Covered TDR Loans | Covered TDR Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate Construction Financing Receivable | Commercial Real Estate Construction Financing Receivable | Commercial Real Estate Construction Financing Receivable | Total commercial | Total commercial | Total commercial | Installment | Installment | Installment | Home Equity Line of Credit | Home Equity Line of Credit | Home Equity Line of Credit | Consumer Credit Card | Consumer Credit Card | Consumer Credit Card | Residential Mortgages | Residential Mortgages | Residential Mortgages | Total consumer | Total consumer | Total consumer | Commercial | Commercial | Commercial Real Estate | Commercial Real Estate | Total commercial | Total commercial | installment | installment | Home Equity Line of Credit | Home Equity Line of Credit | Mortgages | Residential Mortgages | Total consumer | Total consumer | Commercial Real Estate | Commercial Real Estate | Commercial | Commercial | Commercial | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate Construction Financing Receivable | Commercial Real Estate Construction Financing Receivable | Commercial Real Estate Construction Financing Receivable | Total commercial | Total commercial | Total commercial | Total consumer | Home Equity Line of Credit | Home Equity Line of Credit | Residential Mortgages | Residential Mortgages | Total consumer | Total commercial | Residential Real Estate | Total consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Modifications, Recorded Investment | $144,956 | $133,187 | $147,207 | $7,243 | [1] | $5,559 | [1] | $9,441 | [1] | $60,453 | [1] | $57,657 | [1] | $63,675 | [1] | $2,658 | [1] | $5,049 | [1] | $7,087 | [1] | $70,354 | [1] | $68,265 | [1] | $80,203 | [1] | $25,373 | [1] | $27,790 | [1] | $30,140 | [1] | $20,155 | [1] | $12,371 | [1] | $12,381 | [1] | $979 | [1] | $1,113 | [1] | $1,262 | $28,095 | [1] | $23,648 | [1] | $23,221 | [1] | $74,602 | [1] | $64,922 | [1] | $67,004 | [1] | $7,062 | [1] | $4,449 | [1] | $7,806 | [1] | $21,407 | [1] | $15,932 | [1] | $17,361 | [1] | $53 | [1] | $905 | [1] | $1,005 | [1] | $28,522 | [1] | $21,286 | [1] | $26,172 | [1] | $24,394 | [1] | $27,285 | [1] | $30,140 | [1] | $6,956 | [1] | $6,725 | [1] | $6,819 | [1] | $979 | [1] | $1,113 | [1] | $1,262 | [1] | $26,297 | [1] | $23,067 | [1] | $23,221 | [1] | $58,626 | [1] | $58,190 | [1] | $61,442 | [1] | $87,148 | [1] | $79,476 | [1] | $87,614 | [1] | $8,815 | [1] | $2,917 | [1] | $4 | $6 | $1,661 | $1,730 | $1,665 | $1,736 | $979 | $505 | $4,710 | [1] | $245 | [1] | $1,461 | $431 | [1] | $7,150 | [1] | $1,181 | $1,736 | [1] | $1,661 | [1] | $1,730 | [1] | ' | ' | ' | ' | $177 | [1] | $1,104 | [1] | $1,635 | [1] | $37,385 | [1] | $39,995 | [1] | $46,314 | [1] | $2,605 | [1] | $4,144 | [1] | $6,082 | [1] | $40,167 | [1] | $45,243 | [1] | $54,031 | [1] | $8,826 | [1] | $48,993 | $5,551 | $8,489 | [1] | $5,401 | [1] | $337 | [1] | $150 | $5,562 | $48,993 | [1] | $50,794 | [1] | $59,593 | [1] | $54,031 | $150 | [1] | $5,551 | [1] |
Financing Receiables, Modifications, Unpaid Principal Balance | 196,522 | 184,293 | 191,122 | 14,274 | [1] | 9,996 | [1] | 13,369 | [1] | 81,708 | [1] | 79,307 | [1] | 78,763 | [1] | 21,407 | [1] | 25,726 | [1] | 27,437 | [1] | 117,389 | [1] | 115,029 | [1] | 119,569 | [1] | 26,325 | [1] | 29,078 | [1] | 31,654 | [1] | 20,431 | [1] | 12,745 | [1] | 12,732 | [1] | 979 | [1] | 1,113 | [1] | 1,262 | 31,398 | [1] | 26,328 | [1] | 25,905 | [1] | 79,133 | [1] | 69,264 | [1] | 71,553 | [1] | 13,200 | [1] | 7,660 | [1] | 11,489 | [1] | 25,567 | [1] | 20,569 | [1] | 21,742 | [1] | 76 | [1] | 1,179 | [1] | 1,282 | [1] | 38,843 | [1] | 29,408 | [1] | 34,513 | [1] | 25,293 | [1] | 28,536 | [1] | 31,654 | [1] | 7,192 | [1] | 7,054 | [1] | 7,142 | [1] | 979 | [1] | 1,113 | [1] | 1,262 | [1] | 29,426 | [1] | 25,676 | [1] | 25,905 | [1] | 62,890 | [1] | 62,379 | [1] | 65,963 | [1] | 101,733 | [1] | 91,787 | [1] | 100,476 | [1] | 9,082 | [1] | 3,049 | [1] | 4 | 5 | ' | ' | 1,665 | ' | 1,032 | 542 | 4,750 | [1] | 270 | [1] | 1,635 | 502 | [1] | 7,417 | [1] | 1,314 | 1,735 | [1] | 1,661 | [1] | 1,730 | [1] | ' | ' | ' | ' | 1,070 | [1] | 2,331 | [1] | 1,880 | [1] | 54,480 | [1] | 57,008 | [1] | 57,021 | [1] | 21,331 | [1] | 24,547 | [1] | 26,155 | [1] | 76,881 | [1] | 83,886 | [1] | 85,056 | [1] | 8,826 | [1] | ' | ' | 8,489 | [1] | 5,421 | [1] | 337 | [1] | ' | 5,590 | 85,707 | [1] | 89,457 | [1] | 90,646 | [1] | ' | 150 | [1] | 5,571 | [1] |
Provision for Loan Losses Before Benefit Attributable to FDIC Loss Share Agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($451) | $6,477 | $7,428 | $16,154 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financing receivables, modifications, number of contracts at period end | 2,568 | 2,624 | 2,803 | 48 | 40 | 34 | 85 | 77 | 68 | 41 | 40 | 41 | 174 | 157 | 143 | 1,380 | 1,565 | 1,757 | 412 | 286 | 281 | 253 | 307 | 329 | 349 | 309 | 293 | 2,394 | 2,467 | 2,660 | 41 | 35 | 31 | 60 | 52 | 47 | 31 | 30 | 31 | 132 | 117 | 109 | 1,350 | 1,553 | 1,757 | 260 | 231 | 239 | 253 | 307 | 329 | 326 | 301 | 293 | 2,189 | 2,392 | 2,618 | 2,321 | 2,509 | 2,727 | 143 | 29 | 1 | 1 | ' | ' | 2 | ' | 30 | 12 | 90 | 8 | 21 | 7 | 141 | 27 | 2 | 1 | 1 | ' | ' | ' | ' | 6 | 4 | 3 | 24 | 24 | 21 | 10 | 10 | 10 | 40 | 38 | 34 | 64 | ' | ' | 62 | 47 | 2 | ' | 42 | 104 | 86 | 76 | ' | 1 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. |
Allowance_for_Loan_Losses_Accr
Allowance for Loan Losses Accruing and Non-Accruing Troubled Debt Restructurings (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | $144,956 | $133,187 | $147,207 | |||
Impaired Financing Receivable, Related Allowance | 6,531 | ' | ' | |||
Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 87,148 | [1] | 79,476 | [1] | 87,614 | [1] |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7,802 | 6,146 | 6,468 | |||
Impaired Financing Receivable, Related Allowance | 5,134 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 11,395,219 | 10,113,988 | 9,057,641 | |||
Financing Receivable, Recorded Investment, Past Due | 71,974 | 99,399 | 74,984 | |||
Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 8,815 | [1] | 2,917 | [1] | ' | |
Impaired Financing Receivable, Related Allowance | 200 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 2,962,137 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 61,650 | ' | ' | |||
Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | ' | 87,614 | |||
Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 48,993 | 5,551 | ' | |||
Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 48,993 | [1] | 50,794 | [1] | 59,593 | [1] |
Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 121,718 | 114,247 | 121,856 | |||
Financing Receivable, Recorded Investment, Current | 81,339 | 69,077 | 71,255 | |||
Financing Receivable, Recorded Investment, Past Due | 40,379 | 45,170 | 50,601 | |||
Accruing TDRs | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 65,176 | 60,791 | ' | |||
Financing Receivable, Recorded Investment, Current | 60,330 | 54,705 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 4,846 | 6,086 | ' | |||
Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 7,885 | 2,662 | ' | |||
Financing Receivable, Recorded Investment, Current | 7,059 | 2,526 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 826 | 136 | ' | |||
Accruing TDRs | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | ' | 62,263 | |||
Financing Receivable, Recorded Investment, Current | ' | ' | 58,482 | |||
Financing Receivable, Recorded Investment, Past Due | ' | ' | 3,781 | |||
Accruing TDRs | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 48,657 | 5,551 | ' | |||
Financing Receivable, Recorded Investment, Current | 13,950 | 5,527 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 34,707 | 24 | ' | |||
Accruing TDRs | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 50,794 | 59,593 | |||
Financing Receivable, Recorded Investment, Current | ' | 11,846 | 12,773 | |||
Financing Receivable, Recorded Investment, Past Due | ' | 38,948 | 46,820 | |||
Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 23,238 | 18,940 | 25,351 | |||
Financing Receivable, Recorded Investment, Current | 14,496 | 9,535 | 17,137 | |||
Financing Receivable, Recorded Investment, Past Due | 8,742 | 9,405 | 8,214 | |||
Nonaccruing TDRs | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 21,972 | 18,685 | ' | |||
Financing Receivable, Recorded Investment, Current | 13,257 | 9,434 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 8,715 | 9,251 | ' | |||
Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 930 | 255 | ' | |||
Financing Receivable, Recorded Investment, Current | 903 | 101 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 27 | 154 | ' | |||
Nonaccruing TDRs | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | ' | 25,351 | |||
Financing Receivable, Recorded Investment, Current | ' | ' | 17,137 | |||
Financing Receivable, Recorded Investment, Past Due | ' | ' | 8,214 | |||
Nonaccruing TDRs | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 336 | 0 | ' | |||
Financing Receivable, Recorded Investment, Current | 336 | 0 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Nonaccruing TDRs | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 0 | 0 | |||
Financing Receivable, Recorded Investment, Current | ' | 0 | 0 | |||
Financing Receivable, Recorded Investment, Past Due | ' | 0 | 0 | |||
Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 7,201 | 10,535 | |||
Total Tdr Allowance | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 3,379 | ' | |||
Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Total Tdr Allowance | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | ' | 5,368 | |||
Total Tdr Allowance | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 1,197 | 0 | ' | |||
Total Tdr Allowance | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 3,822 | 5,167 | |||
Mortgages | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,461 | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 0 | ' | ' | |||
Mortgages | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 670 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 670 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | ' | ' | |||
Mortgages | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 791 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 764 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 27 | ' | ' | |||
Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 7,243 | [1] | 5,559 | [1] | 9,441 | [1] |
Impaired Financing Receivable, Related Allowance | 2,447 | ' | ' | |||
Commercial | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 4 | 6 | ' | |||
Impaired Financing Receivable, Related Allowance | 4 | ' | ' | |||
Commercial | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 7,062 | [1] | 4,449 | [1] | 7,806 | [1] |
Impaired Financing Receivable, Related Allowance | 2,443 | ' | ' | |||
Commercial | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 177 | 1,104 | 1,635 | |||
Impaired Financing Receivable, Related Allowance | 0 | ' | ' | |||
Commercial | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,836 | 3,421 | 2,656 | |||
Financing Receivable, Recorded Investment, Current | 1,659 | 1,800 | 1,918 | |||
Financing Receivable, Recorded Investment, Past Due | 177 | 1,621 | 738 | |||
Commercial | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Commercial | Accruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,659 | 2,317 | 1,021 | |||
Financing Receivable, Recorded Investment, Current | 1,659 | 1,438 | 1,021 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 879 | 0 | |||
Commercial | Accruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 177 | 1,104 | 1,635 | |||
Financing Receivable, Recorded Investment, Current | 0 | 362 | 897 | |||
Financing Receivable, Recorded Investment, Past Due | 177 | 742 | 738 | |||
Commercial | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 5,407 | 2,138 | 6,785 | |||
Financing Receivable, Recorded Investment, Current | 3,379 | 183 | 6,248 | |||
Financing Receivable, Recorded Investment, Past Due | 2,028 | 1,955 | 537 | |||
Commercial | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 4 | 6 | ' | |||
Financing Receivable, Recorded Investment, Current | 4 | 6 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Commercial | Nonaccruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 5,403 | 2,132 | 6,785 | |||
Financing Receivable, Recorded Investment, Current | 3,375 | 177 | 6,248 | |||
Financing Receivable, Recorded Investment, Past Due | 2,028 | 1,955 | 537 | |||
Commercial | Nonaccruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | |||
Commercial | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 665 | 3,087 | |||
Commercial | Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Commercial | Total Tdr Allowance | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 665 | 2,569 | |||
Commercial | Total Tdr Allowance | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | 518 | |||
Commercial Real Estate | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 60,453 | [1] | 57,657 | [1] | 63,675 | [1] |
Impaired Financing Receivable, Related Allowance | 1,404 | ' | ' | |||
Commercial Real Estate | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,661 | 1,730 | ' | |||
Impaired Financing Receivable, Related Allowance | 182 | ' | ' | |||
Commercial Real Estate | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 21,407 | [1] | 15,932 | [1] | 17,361 | [1] |
Impaired Financing Receivable, Related Allowance | 93 | ' | ' | |||
Commercial Real Estate | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 37,385 | 39,995 | 46,314 | |||
Impaired Financing Receivable, Related Allowance | 1,129 | ' | ' | |||
Commercial Real Estate | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 55,962 | 52,549 | 57,514 | |||
Financing Receivable, Recorded Investment, Current | 21,957 | 17,431 | 16,469 | |||
Financing Receivable, Recorded Investment, Past Due | 34,005 | 35,118 | 41,045 | |||
Commercial Real Estate | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,661 | 1,730 | ' | |||
Financing Receivable, Recorded Investment, Current | 1,661 | 1,730 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Commercial Real Estate | Accruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 16,916 | 10,824 | 11,200 | |||
Financing Receivable, Recorded Investment, Current | 15,387 | 10,442 | 11,200 | |||
Financing Receivable, Recorded Investment, Past Due | 1,529 | 382 | 0 | |||
Commercial Real Estate | Accruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 37,385 | 39,995 | 46,314 | |||
Financing Receivable, Recorded Investment, Current | 4,909 | 5,259 | 5,269 | |||
Financing Receivable, Recorded Investment, Past Due | 32,476 | 34,736 | 41,045 | |||
Commercial Real Estate | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 4,491 | 5,108 | 6,161 | |||
Financing Receivable, Recorded Investment, Current | 1,419 | 1,208 | 1,726 | |||
Financing Receivable, Recorded Investment, Past Due | 3,072 | 3,900 | 4,435 | |||
Commercial Real Estate | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Commercial Real Estate | Nonaccruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 4,491 | 5,108 | 6,161 | |||
Financing Receivable, Recorded Investment, Current | 1,419 | 1,208 | 1,726 | |||
Financing Receivable, Recorded Investment, Past Due | 3,072 | 3,900 | 4,435 | |||
Commercial Real Estate | Nonaccruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | |||
Commercial Real Estate | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 3,054 | 4,259 | |||
Commercial Real Estate | Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Commercial Real Estate | Total Tdr Allowance | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 32 | 510 | |||
Commercial Real Estate | Total Tdr Allowance | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 3,022 | 3,749 | |||
Commercial Real Estate Construction Financing Receivable | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 2,658 | [1] | 5,049 | [1] | 7,087 | [1] |
Impaired Financing Receivable, Related Allowance | 77 | ' | ' | |||
Commercial Real Estate Construction Financing Receivable | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 53 | [1] | 905 | [1] | 1,005 | [1] |
Impaired Financing Receivable, Related Allowance | 9 | ' | ' | |||
Commercial Real Estate Construction Financing Receivable | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 2,605 | 4,144 | 6,082 | |||
Impaired Financing Receivable, Related Allowance | 68 | ' | ' | |||
Commercial Real Estate Construction Financing Receivable | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 2,605 | 4,992 | 7,023 | |||
Financing Receivable, Recorded Investment, Current | 666 | 1,546 | 1,946 | |||
Financing Receivable, Recorded Investment, Past Due | 1,939 | 3,446 | 5,077 | |||
Commercial Real Estate Construction Financing Receivable | Accruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 848 | 941 | |||
Financing Receivable, Recorded Investment, Current | 0 | 848 | 404 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 537 | |||
Commercial Real Estate Construction Financing Receivable | Accruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 2,605 | 4,144 | 6,082 | |||
Financing Receivable, Recorded Investment, Current | 666 | 698 | 1,542 | |||
Financing Receivable, Recorded Investment, Past Due | 1,939 | 3,446 | 4,540 | |||
Commercial Real Estate Construction Financing Receivable | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 53 | 57 | 64 | |||
Financing Receivable, Recorded Investment, Current | 53 | 0 | 64 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 57 | 0 | |||
Commercial Real Estate Construction Financing Receivable | Nonaccruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 53 | 57 | 64 | |||
Financing Receivable, Recorded Investment, Current | 53 | 0 | 64 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 57 | 0 | |||
Commercial Real Estate Construction Financing Receivable | Nonaccruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | |||
Commercial Real Estate Construction Financing Receivable | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 800 | 900 | |||
Commercial Real Estate Construction Financing Receivable | Total Tdr Allowance | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | 0 | |||
Commercial Real Estate Construction Financing Receivable | Total Tdr Allowance | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 800 | 900 | |||
Total commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 70,354 | [1] | 68,265 | [1] | 80,203 | [1] |
Impaired Financing Receivable, Related Allowance | 3,928 | ' | ' | |||
Total commercial | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,665 | 1,736 | ' | |||
Impaired Financing Receivable, Related Allowance | 186 | ' | ' | |||
Total commercial | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 28,522 | [1] | 21,286 | [1] | 26,172 | [1] |
Impaired Financing Receivable, Related Allowance | 2,545 | ' | ' | |||
Total commercial | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 40,167 | 45,243 | ' | |||
Impaired Financing Receivable, Related Allowance | 1,197 | ' | ' | |||
Total commercial | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | ' | 54,031 | |||
Total commercial | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 60,403 | 60,962 | 67,193 | |||
Financing Receivable, Recorded Investment, Current | 24,282 | 20,777 | 20,333 | |||
Financing Receivable, Recorded Investment, Past Due | 36,121 | 40,185 | 46,860 | |||
Total commercial | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,661 | 1,730 | ' | |||
Financing Receivable, Recorded Investment, Current | 1,661 | 1,730 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Total commercial | Accruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 18,575 | 13,989 | 13,162 | |||
Financing Receivable, Recorded Investment, Current | 17,046 | 12,728 | 12,625 | |||
Financing Receivable, Recorded Investment, Past Due | 1,529 | 1,261 | 537 | |||
Total commercial | Accruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 40,167 | 45,243 | ' | |||
Financing Receivable, Recorded Investment, Current | 5,575 | 6,319 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 34,592 | 38,924 | ' | |||
Total commercial | Accruing TDRs | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | ' | 54,031 | |||
Financing Receivable, Recorded Investment, Current | ' | ' | 7,708 | |||
Financing Receivable, Recorded Investment, Past Due | ' | ' | 46,323 | |||
Total commercial | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 9,951 | 7,303 | 13,010 | |||
Financing Receivable, Recorded Investment, Current | 4,851 | 1,391 | 8,038 | |||
Financing Receivable, Recorded Investment, Past Due | 5,100 | 5,912 | 4,972 | |||
Total commercial | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 4 | 6 | ' | |||
Financing Receivable, Recorded Investment, Current | 4 | 6 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Total commercial | Nonaccruing TDRs | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 9,947 | 7,297 | 13,010 | |||
Financing Receivable, Recorded Investment, Current | 4,847 | 1,385 | 8,038 | |||
Financing Receivable, Recorded Investment, Past Due | 5,100 | 5,912 | 4,972 | |||
Total commercial | Nonaccruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Total commercial | Nonaccruing TDRs | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | ' | 0 | |||
Financing Receivable, Recorded Investment, Current | ' | ' | 0 | |||
Financing Receivable, Recorded Investment, Past Due | ' | ' | 0 | |||
Total commercial | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 4,519 | 8,246 | |||
Total commercial | Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Total commercial | Total Tdr Allowance | Originated Loans Commercial | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 697 | 3,079 | |||
Total commercial | Total Tdr Allowance | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 3,822 | ' | |||
Total commercial | Total Tdr Allowance | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | ' | 5,167 | |||
Consumer Installment | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 25,373 | 27,790 | 30,140 | |||
Impaired Financing Receivable, Related Allowance | 1,022 | ' | ' | |||
Consumer Installment | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 24,394 | 27,285 | 30,140 | |||
Consumer Installment | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 505 | ' | |||
Consumer Installment | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 23,050 | 25,085 | 26,713 | |||
Financing Receivable, Recorded Investment, Current | 22,106 | 23,711 | 25,800 | |||
Financing Receivable, Recorded Investment, Past Due | 944 | 1,374 | 913 | |||
Consumer Installment | Accruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 22,098 | 24,580 | 26,713 | |||
Financing Receivable, Recorded Investment, Current | 21,404 | 23,342 | 25,800 | |||
Financing Receivable, Recorded Investment, Past Due | 694 | 1,238 | 913 | |||
Consumer Installment | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 505 | ' | |||
Financing Receivable, Recorded Investment, Current | ' | 369 | ' | |||
Financing Receivable, Recorded Investment, Past Due | ' | 136 | ' | |||
Consumer Installment | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 2,323 | 2,705 | 3,427 | |||
Financing Receivable, Recorded Investment, Current | 2,101 | 2,483 | 3,227 | |||
Financing Receivable, Recorded Investment, Past Due | 222 | 222 | 200 | |||
Consumer Installment | Nonaccruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 2,296 | 2,705 | 3,427 | |||
Financing Receivable, Recorded Investment, Current | 2,074 | 2,483 | 3,227 | |||
Financing Receivable, Recorded Investment, Past Due | 222 | 222 | 200 | |||
Consumer Installment | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 0 | ' | |||
Financing Receivable, Recorded Investment, Current | ' | 0 | ' | |||
Financing Receivable, Recorded Investment, Past Due | ' | 0 | ' | |||
Consumer Installment | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 1,014 | 557 | |||
Consumer Installment | Total Tdr Allowance | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 1,014 | 557 | |||
Consumer Installment | Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Consumer Home Equity Lines Financing Receivable | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 20,155 | 12,371 | 12,381 | |||
Impaired Financing Receivable, Related Allowance | 201 | ' | ' | |||
Consumer Home Equity Lines Financing Receivable | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 6,956 | 6,725 | 6,819 | |||
Consumer Home Equity Lines Financing Receivable | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 4,710 | 245 | ' | |||
Impaired Financing Receivable, Related Allowance | 0 | ' | ' | |||
Consumer Home Equity Lines Financing Receivable | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 8,489 | 5,401 | 5,562 | |||
Impaired Financing Receivable, Related Allowance | 0 | ' | ' | |||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 18,710 | 11,090 | 11,027 | |||
Financing Receivable, Recorded Investment, Current | 17,831 | 10,872 | 10,386 | |||
Financing Receivable, Recorded Investment, Past Due | 879 | 218 | 641 | |||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 5,955 | 5,507 | 5,465 | |||
Financing Receivable, Recorded Investment, Current | 5,767 | 5,313 | 5,321 | |||
Financing Receivable, Recorded Investment, Past Due | 188 | 194 | 144 | |||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 4,602 | 182 | ' | |||
Financing Receivable, Recorded Investment, Current | 4,026 | 182 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 576 | 0 | ' | |||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 8,153 | 5,401 | 5,562 | |||
Financing Receivable, Recorded Investment, Current | 8,038 | 5,377 | 5,065 | |||
Financing Receivable, Recorded Investment, Past Due | 115 | 24 | 497 | |||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,445 | 1,281 | 1,354 | |||
Financing Receivable, Recorded Investment, Current | 1,445 | 1,269 | 1,354 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 12 | 0 | |||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 1,001 | 1,218 | 1,354 | |||
Financing Receivable, Recorded Investment, Current | 1,001 | 1,206 | 1,354 | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 12 | 0 | |||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 108 | 63 | ' | |||
Financing Receivable, Recorded Investment, Current | 108 | 63 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 336 | 0 | ' | |||
Financing Receivable, Recorded Investment, Current | 336 | 0 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 223 | 197 | |||
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 223 | 197 | |||
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Residential Mortgages | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 28,095 | [1] | 23,648 | [1] | 23,221 | [1] |
Residential Mortgages | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 26,297 | [1] | 23,067 | [1] | 23,221 | [1] |
Residential Mortgages | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 431 | [1] | ' | ||
Residential Mortgages | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 337 | [1] | 150 | ' | ||
Impaired Financing Receivable, Related Allowance | 0 | ' | ' | |||
Residential Mortgages | Accruing TDRs | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 337 | 150 | ' | |||
Financing Receivable, Recorded Investment, Current | 337 | 150 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Residential Mortgages | Nonaccruing TDRs | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | ' | |||
Residential Mortgages | Total Tdr Allowance | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Consumer Credit Card | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 979 | [1] | 1,113 | [1] | 1,262 | |
Impaired Financing Receivable, Related Allowance | 361 | ' | ' | |||
Consumer Credit Card | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 979 | [1] | 1,113 | [1] | 1,262 | [1] |
Consumer Credit Card | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 943 | 1,112 | 1,262 | |||
Financing Receivable, Recorded Investment, Current | 857 | 1,046 | 1,222 | |||
Financing Receivable, Recorded Investment, Past Due | 86 | 66 | 40 | |||
Consumer Credit Card | Accruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 943 | 1,112 | 1,262 | |||
Financing Receivable, Recorded Investment, Current | 857 | 1,046 | 1,222 | |||
Financing Receivable, Recorded Investment, Past Due | 86 | 66 | 40 | |||
Consumer Credit Card | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 36 | 1 | 0 | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Past Due | 36 | 1 | 0 | |||
Consumer Credit Card | Nonaccruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 36 | 1 | 0 | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | |||
Financing Receivable, Recorded Investment, Past Due | 36 | 1 | 0 | |||
Consumer Credit Card | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 312 | 255 | |||
Consumer Credit Card | Total Tdr Allowance | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 312 | 255 | |||
Consumer Residential Mortgages Financing Receivable | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 28,095 | 23,648 | 23,221 | |||
Impaired Financing Receivable, Related Allowance | 1,019 | ' | ' | |||
Consumer Residential Mortgages Financing Receivable | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 26,297 | 23,067 | 23,221 | |||
Consumer Residential Mortgages Financing Receivable | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 431 | ' | |||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 18,612 | 15,998 | 15,661 | |||
Financing Receivable, Recorded Investment, Current | 16,263 | 12,671 | 13,514 | |||
Financing Receivable, Recorded Investment, Past Due | 2,349 | 3,327 | 2,147 | |||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 17,605 | 15,603 | 15,661 | |||
Financing Receivable, Recorded Investment, Current | 15,256 | 12,276 | 13,514 | |||
Financing Receivable, Recorded Investment, Past Due | 2,349 | 3,327 | 2,147 | |||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 245 | ' | |||
Financing Receivable, Recorded Investment, Current | ' | 245 | ' | |||
Financing Receivable, Recorded Investment, Past Due | ' | 0 | ' | |||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 9,483 | 7,650 | 7,560 | |||
Financing Receivable, Recorded Investment, Current | 6,099 | 4,392 | 4,518 | |||
Financing Receivable, Recorded Investment, Past Due | 3,384 | 3,258 | 3,042 | |||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 8,692 | 7,464 | 7,560 | |||
Financing Receivable, Recorded Investment, Current | 5,335 | 4,360 | 4,518 | |||
Financing Receivable, Recorded Investment, Past Due | 3,357 | 3,104 | 3,042 | |||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 186 | ' | |||
Financing Receivable, Recorded Investment, Current | ' | 32 | ' | |||
Financing Receivable, Recorded Investment, Past Due | ' | 154 | ' | |||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 1,133 | 1,280 | |||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 1,133 | 1,280 | |||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
Total consumer | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 74,602 | [1] | 64,922 | [1] | 67,004 | [1] |
Impaired Financing Receivable, Related Allowance | 2,603 | ' | ' | |||
Total consumer | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 58,626 | [1] | 58,190 | [1] | 61,442 | [1] |
Impaired Financing Receivable, Related Allowance | 2,589 | ' | ' | |||
Total consumer | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 7,150 | [1] | 1,181 | ' | ||
Impaired Financing Receivable, Related Allowance | 14 | ' | ' | |||
Total consumer | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 8,826 | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 0 | ' | ' | |||
Total consumer | Covered Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | ' | 5,562 | |||
Total consumer | Covered TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | ' | 5,551 | [1] | ' | ||
Total consumer | Accruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 61,315 | 53,285 | 54,663 | |||
Financing Receivable, Recorded Investment, Current | 57,057 | 48,300 | 50,922 | |||
Financing Receivable, Recorded Investment, Past Due | 4,258 | 4,985 | 3,741 | |||
Total consumer | Accruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 46,601 | 46,802 | 49,101 | |||
Financing Receivable, Recorded Investment, Current | 43,284 | 41,977 | 45,857 | |||
Financing Receivable, Recorded Investment, Past Due | 3,317 | 4,825 | 3,244 | |||
Total consumer | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 6,224 | 932 | ' | |||
Financing Receivable, Recorded Investment, Current | 5,398 | 796 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 826 | 136 | ' | |||
Total consumer | Accruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 8,490 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 8,375 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 115 | ' | ' | |||
Total consumer | Nonaccruing TDRs | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 13,287 | 11,637 | 12,341 | |||
Financing Receivable, Recorded Investment, Current | 9,645 | 8,144 | 9,099 | |||
Financing Receivable, Recorded Investment, Past Due | 3,642 | 3,493 | 3,242 | |||
Total consumer | Nonaccruing TDRs | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 12,025 | 11,388 | 12,341 | |||
Financing Receivable, Recorded Investment, Current | 8,410 | 8,049 | 9,099 | |||
Financing Receivable, Recorded Investment, Past Due | 3,615 | 3,339 | 3,242 | |||
Total consumer | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 926 | 249 | ' | |||
Financing Receivable, Recorded Investment, Current | 899 | 95 | ' | |||
Financing Receivable, Recorded Investment, Past Due | 27 | 154 | ' | |||
Total consumer | Nonaccruing TDRs | Covered Commercial TDR Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 336 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 336 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | ' | ' | |||
Total consumer | Total Tdr Allowance | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 2,682 | 2,289 | |||
Total consumer | Total Tdr Allowance | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 2,682 | 2,289 | |||
Total consumer | Total Tdr Allowance | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 0 | ' | |||
installment | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 979 | 505 | ' | |||
Impaired Financing Receivable, Related Allowance | 14 | ' | ' | |||
installment | Accruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 952 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 702 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 250 | ' | ' | |||
installment | Nonaccruing TDRs | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Modifications, Recorded Investment | 27 | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 27 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 0 | ' | ' | |||
Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | 7,802 | [2] | 6,146 | [2] | 6,468 | [2] |
Consumer Home Equity Lines Financing Receivable | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 995,211 | 916,319 | 841,801 | |||
Financing Receivable, Recorded Investment, Past Due | 2,968 | 3,747 | 3,250 | |||
Consumer Home Equity Lines Financing Receivable | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 257,771 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 10,495 | ' | ' | |||
Consumer Home Equity Lines Financing Receivable | Consumer Home Equity Lines Financing Receivable | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 201 | ' | ' | |||
Consumer Home Equity Lines Financing Receivable | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 223 | [2] | 197 | [2] | |
Consumer Residential Mortgages Financing Receivable | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 557,732 | 497,973 | 438,178 | |||
Financing Receivable, Recorded Investment, Past Due | 22,434 | 31,280 | 24,249 | |||
Consumer Residential Mortgages Financing Receivable | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 416,756 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 8,828 | ' | ' | |||
Consumer Residential Mortgages Financing Receivable | Consumer Residential Mortgages Financing Receivable | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,019 | ' | ' | |||
Consumer Residential Mortgages Financing Receivable | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 1,133 | [2] | 1,280 | [2] | |
Consumer Credit Card | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 150,395 | 146,378 | 140,369 | |||
Financing Receivable, Recorded Investment, Past Due | 1,572 | 1,935 | 1,950 | |||
Consumer Credit Card | Consumer Credit Card | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 361 | ' | ' | |||
Consumer Credit Card | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | 312 | [2] | 255 | [2] | |
Installment | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 2,033,177 | 1,703,980 | 1,479,421 | |||
Financing Receivable, Recorded Investment, Past Due | 18,410 | 23,945 | 17,242 | |||
Installment | Acquired Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Recorded Investment, Current | 862,731 | ' | ' | |||
Financing Receivable, Recorded Investment, Past Due | 9,303 | ' | ' | |||
Installment | Consumer Installment | Originated Consumer Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,008 | ' | ' | |||
Installment | Originated Loans | ' | ' | ' | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | ' | ' | ' | |||
Impaired Financing Receivable, Related Allowance | ' | $1,014 | [2] | $557 | [2] | |
[1] | Note 1: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. | |||||
[2] | Note 1: These tables exclude loans fully charged off.Note 2: The differences between the recorded investment and unpaid principal balance amounts represents partial charge offs. |
Allowance_for_Loan_Losses_Sche2
Allowance for Loan Losses Schedule of Troubled Debt Restructuring Current Period (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 11 | 64 | 14 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $666 | $5,640 | $753 |
Commercial and Industrial | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 4 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 170 | 1,773 | 0 |
Commercial and Industrial | Originated Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 4 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 170 | 1,773 | 0 |
Commercial and Industrial | Covered Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commercial Real Estate | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 7 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 363 | 3,101 | 85 |
Commercial Real Estate | Originated Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 6 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 363 | 3,101 | 85 |
Commercial Real Estate | Covered Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commercial Real Estate Construction Financing Receivable | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 2 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 276 | 537 |
Commercial Real Estate Construction Financing Receivable | Originated Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 1 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 231 | 537 |
Commercial Real Estate Construction Financing Receivable | Covered Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 45 | 0 |
Total commercial | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 2 | 13 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 533 | 5,150 | 622 |
Total commercial | Originated Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 2 | 11 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 533 | 5,105 | 622 |
Total commercial | Covered Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 45 | 0 |
Consumer Installment | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 17 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 3 | 170 | 37 |
Consumer Installment | Originated Consumer Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 17 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 3 | 170 | 37 |
Home Equity Line of Credit | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 15 |
Home Equity Line of Credit | Originated Consumer Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 15 |
Consumer Credit Card | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 7 | 33 | 9 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 31 | 245 | 79 |
Consumer Credit Card | Originated Consumer Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 7 | 33 | 9 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 31 | 245 | 79 |
Residential Mortgages | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 99 | 75 | 0 |
Residential Mortgages | Originated Consumer Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 99 | 75 | 0 |
Total consumer | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 9 | 51 | 12 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 133 | 490 | 131 |
Total consumer | Originated Consumer Loans | ' | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' | ' |
financing receivable, modifications, subsequent default, number of contracts at period end | 9 | 51 | 12 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $133 | $490 | $131 |
Allowance_for_Loan_Losses_Deta
Allowance for Loan Losses Details Textual (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Write-downs | $3,800,000 | ' | $9,400,000 | ' | ' | ' | ' | ' |
Loan Commitments | 5,666,483,000 | 5,116,633,000 | 5,666,483,000 | 5,116,633,000 | ' | 5,546,635,000 | ' | ' |
Minimum Non Performing Substandard Loans Outstanding for Allowance for Credit Losses | 300,000 | ' | 300,000 | ' | ' | ' | ' | ' |
Minimum Non Performing Substandard Doubtful Loans Outstanding for Allowance for Credit Losses | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 79,000 | 100,000 | 165,000 | ' | ' | ' | ' |
Covered Loans | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance, Covered | 45,109,000 | 49,069,000 | 45,109,000 | 49,069,000 | 49,970,000 | 44,027,000 | 47,945,000 | 43,255,000 |
Provision for Loan Losses Before Benefit Attributable to FDIC Loss Share Agreements | -451,000 | 6,477,000 | 7,428,000 | 16,154,000 | ' | ' | ' | ' |
Benefit Attributable to FDIC Loss Share Agreements | 3,897,000 | -2,319,000 | -927,000 | -7,858,000 | ' | ' | ' | ' |
Provision for Loan Lease and Other Losses Covered | 3,446,000 | 4,158,000 | 6,501,000 | 8,296,000 | ' | ' | ' | ' |
Total impaired loans with no related allowance | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loan Commitments | 1,600,000 | ' | 1,600,000 | ' | ' | ' | ' | ' |
Impaired Receivables prior to impairment | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | $500,000 | $1,100,000 | $1,300,000 | $1,800,000 | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets-Accumulated Amortization of Intangible Assets Schedule (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | $102,253 | $102,253 | $102,253 |
Finite-Lived Intangible Assets, Accumulated Amortization | -25,367 | -19,498 | -13,834 |
Finite-Lived Intangible Assets, Net | 76,886 | 82,755 | 88,419 |
Core Deposits | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 87,533 | 87,533 | 87,533 |
Finite-Lived Intangible Assets, Accumulated Amortization | -20,637 | -16,065 | -12,416 |
Finite-Lived Intangible Assets, Net | 66,896 | 71,468 | 75,117 |
Noncompete Agreement | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | ' | ' | 102 |
Finite-Lived Intangible Assets, Accumulated Amortization | ' | ' | -89 |
Finite-Lived Intangible Assets, Net | ' | ' | 13 |
Lease Agreements | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 618 | 618 | 618 |
Finite-Lived Intangible Assets, Accumulated Amortization | -538 | -520 | -502 |
Finite-Lived Intangible Assets, Net | 80 | 98 | 116 |
Customer Relationships | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets | 14,000 | 14,000 | 14,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | -4,090 | -2,811 | -827 |
Finite-Lived Intangible Assets, Net | $9,910 | $11,189 | $13,173 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Details Textual) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Apr. 12, 2013 | Jun. 30, 2014 | Apr. 12, 2013 | Jun. 30, 2014 | Apr. 12, 2013 | |||
Core Deposits | Customer Relationships | Customer Relationships | Customer Relationships | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | |||||||
Core Deposits | Core Deposits | Customer Relationships | Customer Relationships | ||||||||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Intangible assets | ' | ' | ' | ' | $14,000,000 | $14,000,000 | $14,000,000 | $84,774,000 | [1] | ' | $70,800,000 | [1] | ' | $14,000,000 | [1] |
Goodwill | 741,740,000 | 741,740,000 | 741,740,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | '10 years | ' | ' | ' | ' | '15 years | ' | '12 years | ' | |||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 10,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 9,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 8,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
[1] | Intangible assets consist of core deposit intangibles of $70.8 million and trust relationships of approximately $14.0 million. The useful lives for which the core deposit intangibles and the trust relationships are being amortized over is 15 years and 12 years, respectively. |
Shareholders_Equity_Details
Shareholders Equity (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Schedule of Earnings Per Share, Basic and Diluted [Line Items] | ' | ' | ' | ' |
Net Income (Loss) Available to Common Stockholders, Diluted | $57,561 | $46,598 | $109,110 | $82,584 |
Net Income (Loss) Attributable to Parent | 59,519 | 48,450 | 112,974 | 85,796 |
Dividends, Preferred Stock | 1,469 | 1,469 | ' | 2,399 |
Preferred Stock Dividends, Income Statement Impact | ' | ' | 2,938 | ' |
Undistributed Earnings Allocated to Participating Securities | 489 | 383 | 926 | 813 |
Net income attributable to common shareholders | $57,561 | $46,598 | $109,110 | $82,584 |
Weighted average number of common shares outstanding - basic | 165,335 | 157,863 | 165,198 | 133,909 |
Weighted average number of common shares outstanding - diluted | 166,147 | 158,390 | 166,052 | 134,406 |
Earnings Per Share, Basic | $0.35 | $0.30 | $0.66 | $0.62 |
Earnings Per Share, Diluted | $0.35 | $0.29 | $0.66 | $0.61 |
Employee Stock Option | ' | ' | ' | ' |
Schedule of Earnings Per Share, Basic and Diluted [Line Items] | ' | ' | ' | ' |
Weighted average number of common shares outstanding - diluted | 812 | 527 | 854 | 497 |
Shareholders_Equity_Details_Na
Shareholders Equity Details Narrative (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Feb. 04, 2013 | Jun. 30, 2013 | Apr. 12, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Apr. 12, 2013 |
In Millions, except Share data, unless otherwise specified | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | Citizens Republic Bancorp | |||
FirstMerit | FirstMerit | |||||||||
Shareholders Equity Narrative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $1 | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | 2,408,203 | 2,408,203 | 2,515,892 | ' | 1,757,812.50 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | 17.89 | ' |
5.875% Non-Cumulative Perpetual Preferred stock, Series A, authorized 115,000 shares | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cumulative Perpetual Preferred Stock, Series A, Shares Authorized | 115,000 | 115,000 | 0 | ' | ' | ' | ' | ' | ' | ' |
Interest rate of Non-Cumulative Perpetual Preferred Stock, Series A | ' | ' | ' | 5.88% | 5.88% | ' | ' | ' | ' | ' |
Non-cumulative Perpetual Preferred Stock, Shares Outstanding | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 |
OPERATIONS: | ' | ' | ' | ' |
Net interest income | $195,577 | $198,031 | $389,479 | $309,379 |
Provision for Loan, Lease, and Other Losses | -15,253 | -7,309 | -29,790 | -17,256 |
Noninterest Income | 72,560 | 69,439 | 139,831 | 126,832 |
Other expenses | 167,400 | 188,888 | 336,733 | 295,034 |
Net income | 59,519 | 48,450 | 112,974 | 85,796 |
AVERAGES : | ' | ' | ' | ' |
Assets | 24,291,276 | 22,810,702 | 24,216,459 | 18,914,581 |
Total commercial | ' | ' | ' | ' |
OPERATIONS: | ' | ' | ' | ' |
Net interest income | 106,924 | 114,557 | 211,987 | 182,947 |
Provision for Loan, Lease, and Other Losses | 4,874 | -2,120 | -167 | -6,886 |
Noninterest Income | 26,681 | 20,895 | 47,987 | 40,127 |
Other expenses | 61,230 | 51,891 | 123,215 | 94,918 |
Net income | 50,211 | 52,680 | 88,784 | 78,569 |
AVERAGES : | ' | ' | ' | ' |
Assets | 9,192,463 | 8,852,267 | 9,132,758 | 7,800,594 |
Retail | ' | ' | ' | ' |
OPERATIONS: | ' | ' | ' | ' |
Net interest income | 94,879 | 95,904 | 188,129 | 145,658 |
Provision for Loan, Lease, and Other Losses | -14,905 | -2,101 | -17,522 | -6,174 |
Noninterest Income | 25,345 | 33,330 | 52,381 | 57,718 |
Other expenses | 87,603 | 85,512 | 183,377 | 138,419 |
Net income | 11,515 | 26,919 | 25,747 | 38,074 |
AVERAGES : | ' | ' | ' | ' |
Assets | 5,541,566 | 5,006,423 | 5,495,965 | 4,016,956 |
Wealth | ' | ' | ' | ' |
OPERATIONS: | ' | ' | ' | ' |
Net interest income | 4,799 | 4,288 | 9,477 | 8,441 |
Provision for Loan, Lease, and Other Losses | -396 | 42 | 351 | 166 |
Noninterest Income | 14,052 | 12,821 | 27,516 | 21,131 |
Other expenses | 12,370 | 13,832 | 25,097 | 24,006 |
Net income | 3,955 | 2,027 | 7,504 | 3,379 |
AVERAGES : | ' | ' | ' | ' |
Assets | 258,845 | 263,454 | 250,279 | 250,206 |
Nonreportable segments and reconciling items | ' | ' | ' | ' |
OPERATIONS: | ' | ' | ' | ' |
Net interest income | -11,025 | -16,718 | -20,114 | -27,667 |
Provision for Loan, Lease, and Other Losses | -4,826 | -3,130 | -11,750 | -4,030 |
Noninterest Income | 6,482 | 2,393 | 11,947 | 7,856 |
Other expenses | 6,197 | 37,653 | 5,044 | 37,691 |
Net income | -6,162 | -33,176 | -9,061 | -34,226 |
AVERAGES : | ' | ' | ' | ' |
Assets | $9,298,402 | $8,688,558 | $9,337,457 | $6,846,825 |
Derivative_Instruments_Designa
Derivative Instruments Designated at Hedging Instruments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Derivatives designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Fair Value | $50,550 | $47,902 | $53,158 | |||
Derivative Liability, Fair Value | 57,544 | 58,201 | 62,217 | |||
Interest rate swaps | Designated as Hedging Instrument | ' | ' | ' | |||
Derivatives designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 0 | 0 | 4,632 | |||
Derivative Asset, Fair Value | 0 | [1] | 0 | [1] | 0 | [1] |
Derivative Liability, Notional/Contract Amount | 102,828 | 126,637 | 136,186 | |||
Derivative Liability, Fair Value | $8,989 | $11,574 | $14,319 | |||
[1] | (a) Included in "Other assets" on the Consolidated Balance Sheets(b) Included in "Other liabilities" on the Consolidated Balance Sheets |
Derivative_Instruments_not_Des
Derivative Instruments not Designated as Hedging Instruments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Fair Value | $50,550 | $47,902 | $53,158 | |||
Derivative Liability, Fair Value | 57,544 | 58,201 | 62,217 | |||
Not Designated as Hedging Instrument | ' | ' | ' | |||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 1,828,587 | 1,760,450 | 1,901,310 | |||
Derivative Asset, Fair Value | 50,550 | [1] | 47,902 | [1] | 53,158 | [1] |
Derivative Liability, Notional/Contract Amount | 1,818,894 | 1,743,151 | 1,612,438 | |||
Derivative Liability, Fair Value | 48,555 | 46,627 | 47,898 | |||
Not Designated as Hedging Instrument | Interest rate swaps | ' | ' | ' | |||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 1,618,463 | 1,622,525 | 1,502,079 | |||
Derivative Asset, Fair Value | 47,952 | [1] | 46,577 | [1] | 47,804 | [1] |
Derivative Liability, Notional/Contract Amount | 1,618,463 | 1,622,531 | 1,502,079 | |||
Derivative Liability, Fair Value | 47,952 | 46,577 | 47,804 | |||
Not Designated as Hedging Instrument | Mortgage loan commitments | ' | ' | ' | |||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 169,232 | 90,541 | 251,198 | |||
Derivative Asset, Fair Value | 2,491 | [1] | 891 | [1] | 779 | [1] |
Derivative Liability, Notional/Contract Amount | 0 | 0 | 0 | |||
Derivative Liability, Fair Value | 0 | 0 | 0 | |||
Not Designated as Hedging Instrument | Forward sales contracts | ' | ' | ' | |||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 0 | 40,906 | 139,093 | |||
Derivative Asset, Fair Value | 0 | [1] | 384 | [1] | 4,458 | [1] |
Derivative Liability, Notional/Contract Amount | 80,161 | 0 | 0 | |||
Derivative Liability, Fair Value | 545 | 0 | 0 | |||
Not Designated as Hedging Instrument | Credit Risk Contract | ' | ' | ' | |||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 15,269 | 0 | 0 | |||
Derivative Asset, Fair Value | 0 | [1] | 0 | [1] | 0 | [1] |
Derivative Liability, Notional/Contract Amount | 52,319 | 49,914 | 50,754 | |||
Derivative Liability, Fair Value | 10 | 0 | 0 | |||
Not Designated as Hedging Instrument | Foreign Exchange | ' | ' | ' | |||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 25,623 | 6,478 | 8,940 | |||
Derivative Asset, Fair Value | 107 | [1] | 50 | [1] | 117 | [1] |
Derivative Liability, Notional/Contract Amount | 7,568 | 6,893 | 7,235 | |||
Derivative Liability, Fair Value | 48 | 50 | 94 | |||
Not Designated as Hedging Instrument | Other Contract | ' | ' | ' | |||
Derivatives not designated in hedge relationships | ' | ' | ' | |||
Derivative Asset, Notional/Contract Amount | 0 | 0 | 0 | |||
Derivative Asset, Fair Value | 0 | [1] | 0 | [1] | 0 | [1] |
Derivative Liability, Notional/Contract Amount | 60,383 | 63,813 | 52,370 | |||
Derivative Liability, Fair Value | $0 | $0 | $0 | |||
[1] | (a) Included in "Other assets" on the Consolidated Balance Sheets(b) Included in "Other liabilities" on the Consolidated Balance Sheets |
Derivative_Instruments_GainLos
Derivative Instruments, Gain(Loss) (Details) (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 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gains and losses recognized in income on derivatives | $531 | $1,246 | $778 | $584 |
Mortgage loan commitments | Other income | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gains and losses recognized in income on derivatives | 916 | -3,374 | 1,600 | -3,622 |
Forward sales contracts | Other income | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gains and losses recognized in income on derivatives | -713 | 4,742 | -929 | 4,519 |
Credit Risk Contract | Other income | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gains and losses recognized in income on derivatives | $328 | ($122) | $107 | ($313) |
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities Offsetting Disclosure for Derivative Contracts (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Offsetting Disclosure for Derivative Contracts [Line Items] | ' | ' | ' |
offsetting disclosure, derivative asset, fair value, gross | $858 | $4,795 | $3,063 |
offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative asset, falir value | 858 | 4,795 | 3,063 |
offseting disclosure, netting adjustment, derivative liability, fair value | -858 | -4,795 | -3,032 |
offsetting disclosure, collateral value, derivative asset | 0 | 0 | -31 |
offsetting disclosure, net amount total, derivative asset, fair value | 0 | 0 | 0 |
offsetting disclosure, derivative liability, fair value, gross | 56,138 | 53,407 | 59,135 |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 56,138 | 53,407 | 59,135 |
offseting disclosure, netting adjustment, derivative asset, fair value | -858 | -4,795 | -3,032 |
offsetting disclosure, collateral value, derivative liability | -55,280 | -48,612 | -56,103 |
offsetting disclosure, net amount total, derivative liability, fair value | 0 | 0 | 0 |
Designated as Hedging Instrument | Interest Rate Swap | ' | ' | ' |
Offsetting Disclosure for Derivative Contracts [Line Items] | ' | ' | ' |
offsetting disclosure, derivative liability, fair value, gross | 8,989 | 11,574 | 14,319 |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 8,989 | 11,574 | 14,319 |
offseting disclosure, netting adjustment, derivative asset, fair value | 0 | 0 | 0 |
offsetting disclosure, collateral value, derivative liability | -8,989 | -11,574 | -14,319 |
offsetting disclosure, net amount total, derivative liability, fair value | 0 | 0 | 0 |
Not Designated as Hedging Instrument | Interest Rate Swap | ' | ' | ' |
Offsetting Disclosure for Derivative Contracts [Line Items] | ' | ' | ' |
offsetting disclosure, derivative asset, fair value, gross | 839 | 4,791 | 3,010 |
offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative asset, falir value | 839 | 4,791 | 3,010 |
offseting disclosure, netting adjustment, derivative liability, fair value | -839 | -4,791 | -3,010 |
offsetting disclosure, collateral value, derivative asset | 0 | 0 | 0 |
offsetting disclosure, net amount total, derivative asset, fair value | 0 | 0 | 0 |
offsetting disclosure, derivative liability, fair value, gross | 47,114 | 41,787 | 44,794 |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 47,114 | 41,787 | 44,794 |
offseting disclosure, netting adjustment, derivative asset, fair value | -839 | -4,791 | -3,010 |
offsetting disclosure, collateral value, derivative liability | -46,275 | -36,996 | -41,784 |
offsetting disclosure, net amount total, derivative liability, fair value | 0 | 0 | 0 |
Not Designated as Hedging Instrument | Foreign Exchange Contract | ' | ' | ' |
Offsetting Disclosure for Derivative Contracts [Line Items] | ' | ' | ' |
offsetting disclosure, derivative asset, fair value, gross | 19 | 4 | 53 |
offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative asset, falir value | 19 | 4 | 53 |
offseting disclosure, netting adjustment, derivative liability, fair value | -19 | -4 | -22 |
offsetting disclosure, collateral value, derivative asset | 0 | 0 | -31 |
offsetting disclosure, net amount total, derivative asset, fair value | 0 | 0 | 0 |
offsetting disclosure, derivative liability, fair value, gross | 35 | 46 | 22 |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 35 | 46 | 22 |
offseting disclosure, netting adjustment, derivative asset, fair value | -19 | -4 | -22 |
offsetting disclosure, collateral value, derivative liability | -16 | -42 | 0 |
offsetting disclosure, net amount total, derivative liability, fair value | $0 | $0 | $0 |
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Details Textual) (USD $) | 6 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 |
Government Agency Issued Bonds or MBS | Government Agency Issued Bonds or MBS | Government Agency Issued Bonds or MBS | Credit Default Swap, Selling Protection [Member] | ||
Derivative [Line Items] | ' | ' | ' | ' | ' |
Term of written loan commitments, days | '60 | ' | ' | ' | ' |
Default Assumptions Percentage | 100.00% | ' | ' | ' | ' |
Maximum value of the guaranteed derivative instruments | $3.20 | ' | ' | ' | ' |
Collateral posted against derivative liabilities | ' | $64 | $70.50 | $82.20 | ' |
Remaining Term on Swap Participation Agreements, minimum | '3 years | ' | ' | ' | '1 year |
Remaining term on swap participation agreements, maximum | '9 years | ' | ' | ' | '8 years |
Benefit_Plans_Schedule_of_Net_
Benefit Plans Schedule of Net Benefit Costs Details (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 |
Pension Plan, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Service Cost | $182 | $585 | $364 | $1,170 |
Defined Benefit Plan, Interest Cost | 3,584 | 2,632 | 7,168 | 5,264 |
Defined Benefit Plan, Expected Return on Plan Assets | -4,009 | -2,960 | -8,017 | -5,920 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 698 | 117 | 1,331 | 234 |
Defined Benefit Plan, Amortization of Gains (Losses) | 804 | 1,174 | 1,513 | 2,348 |
Defined Benefit Plan, Net Periodic Benefit Cost | 1,259 | 1,548 | 2,359 | 3,096 |
Other Postretirement Benefit Plans, Defined Benefit | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Service Cost | 16 | 25 | 33 | 50 |
Defined Benefit Plan, Interest Cost | 164 | 130 | 327 | 260 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | -117 | -117 | -234 | -234 |
Defined Benefit Plan, Amortization of Gains (Losses) | 59 | 67 | 118 | 134 |
Defined Benefit Plan, Net Periodic Benefit Cost | $122 | $105 | $244 | $210 |
Fair_Value_Measurement_Recurri
Fair Value Measurement (Recurring and Nonrecurring Table) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Collateral Dependant Impaired and Non Accrual Loans Carrying Amount | $56,000,000 | $47,900,000 | $52,600,000 | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 3,478,420,000 | 3,273,174,000 | 3,299,392,000 | |||
Residential loans held for sale | 21,632,000 | 11,622,000 | 22,855,000 | |||
Loans held for sale | 21,632,000 | 11,622,000 | 22,855,000 | |||
Derivative Asset, Fair Value, Gross Asset | 50,550,000 | 47,902,000 | 53,158,000 | |||
Total Assets, Fair Value Disclosure, Recurring | 3,550,602,000 | 3,332,698,000 | 3,375,405,000 | |||
Derivative Liability, Fair Value, Gross Liability | 57,544,000 | 58,201,000 | 62,217,000 | |||
True Up Liability | 12,581,000 | 11,463,000 | 10,937,000 | |||
Total liabilities at fair value on a recurring basis | 70,125,000 | [1] | 69,664,000 | [1] | 73,154,000 | |
Nonrecurring Fair Value Measurements [Abstract] | ' | ' | ' | |||
Fair Value of Mortgage Servicing Rights | 21,987,000 | [2] | 23,041,000 | [2] | 22,529,000 | |
Impaired and Non Accrual Loans Fair Value Disclosure | 56,006,000 | [3] | 47,870,000 | [3] | 52,606,000 | |
Other Real Estate, Non Covered | 17,052,000 | [4] | 10,018,000 | [4] | 16,825,000 | |
Other Real Estate Covered by Loss Share | 22,782,000 | [5] | 8,754,000 | [5] | 18,338,000 | |
Nonrecurring Fair Value | 117,827,000 | 89,683,000 | 110,298,000 | |||
Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 2,935,000 | 3,036,000 | 3,213,000 | |||
Residential loans held for sale | 0 | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Total Assets, Fair Value Disclosure, Recurring | 2,935,000 | 3,036,000 | 3,213,000 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
True Up Liability | 0 | 0 | 0 | |||
Total liabilities at fair value on a recurring basis | 0 | [1] | 0 | [1] | 0 | |
Nonrecurring Fair Value Measurements [Abstract] | ' | ' | ' | |||
Fair Value of Mortgage Servicing Rights | 0 | [2] | 0 | [2] | 0 | |
Impaired and Non Accrual Loans Fair Value Disclosure | 0 | [3] | 0 | [3] | 0 | |
Other Real Estate, Non Covered | 0 | [4] | 0 | [4] | 0 | |
Other Real Estate Covered by Loss Share | 0 | [5] | 0 | [5] | 0 | |
Nonrecurring Fair Value | 0 | 0 | 0 | |||
Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 3,124,752,000 | 2,922,527,000 | 3,083,667,000 | |||
Residential loans held for sale | ' | 11,622,000 | 22,855,000 | |||
Loans held for sale | 21,632,000 | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 50,550,000 | 47,902,000 | 53,158,000 | |||
Total Assets, Fair Value Disclosure, Recurring | 3,196,934,000 | 2,982,051,000 | 3,159,680,000 | |||
Derivative Liability, Fair Value, Gross Liability | 57,544,000 | 58,201,000 | 62,217,000 | |||
True Up Liability | 0 | 0 | 0 | |||
Total liabilities at fair value on a recurring basis | 57,544,000 | [1] | 58,201,000 | [1] | 62,217,000 | |
Nonrecurring Fair Value Measurements [Abstract] | ' | ' | ' | |||
Fair Value of Mortgage Servicing Rights | 0 | [2] | 0 | [2] | 0 | |
Impaired and Non Accrual Loans Fair Value Disclosure | 0 | [3] | 0 | [3] | 0 | |
Other Real Estate, Non Covered | 0 | [4] | 0 | [4] | 0 | |
Other Real Estate Covered by Loss Share | 0 | [5] | 0 | [5] | 0 | |
Nonrecurring Fair Value | 0 | 0 | 0 | |||
Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 350,733,000 | 347,611,000 | 212,512,000 | |||
Residential loans held for sale | 0 | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Total Assets, Fair Value Disclosure, Recurring | 350,733,000 | 347,611,000 | 212,512,000 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
True Up Liability | 12,581,000 | 11,463,000 | 10,937,000 | |||
Total liabilities at fair value on a recurring basis | 12,581,000 | [1] | 11,463,000 | [1] | 10,937,000 | |
Nonrecurring Fair Value Measurements [Abstract] | ' | ' | ' | |||
Fair Value of Mortgage Servicing Rights | 21,987,000 | [2] | 23,041,000 | 22,529,000 | ||
Impaired and Non Accrual Loans Fair Value Disclosure | 56,006,000 | 47,870,000 | 52,606,000 | |||
Other Real Estate, Non Covered | 17,052,000 | [4] | 10,018,000 | [4] | 16,825,000 | |
Other Real Estate Covered by Loss Share | 22,782,000 | [5] | 8,754,000 | [5] | 18,338,000 | |
Nonrecurring Fair Value | 117,827,000 | 89,683,000 | 110,298,000 | |||
Equity Securities | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 2,935,000 | 3,036,000 | 3,213,000 | |||
Equity Securities | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 2,935,000 | 3,036,000 | 3,213,000 | |||
Equity Securities | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Equity Securities | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Non-marketable Equity Securities [Member] | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 3,281,000 | 3,281,000 | 3,281,000 | |||
Non-marketable Equity Securities [Member] | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | ' | |||
Non-marketable Equity Securities [Member] | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 10,000 | 10,000 | 10,000 | |||
Non-marketable Equity Securities [Member] | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 3,271,000 | 3,271,000 | 3,271,000 | |||
U.S. States and political subdivisions debt securities | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 240,805,000 | 262,367,000 | 277,934,000 | |||
U.S. States and political subdivisions debt securities | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
U.S. States and political subdivisions debt securities | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 240,805,000 | 262,367,000 | 277,934,000 | |||
U.S. States and political subdivisions debt securities | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 1,018,174,000 | 969,922,000 | 1,075,928,000 | |||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 1,018,174,000 | 969,922,000 | 1,075,928,000 | |||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 85,698,000 | 69,567,000 | 56,497,000 | |||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 85,698,000 | 69,567,000 | 56,497,000 | |||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 1,598,031,000 | 1,518,393,000 | 1,566,728,000 | |||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 1,598,031,000 | 1,518,393,000 | 1,566,728,000 | |||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 8,000 | 9,000 | 10,000 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 1,000 | 0 | 2,000 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 7,000 | 9,000 | 8,000 | |||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 182,033,000 | 102,268,000 | 106,568,000 | |||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 182,033,000 | 102,268,000 | 106,568,000 | |||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Corporate debt securities | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 53,490,000 | 50,644,000 | 51,138,000 | |||
Corporate debt securities | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Corporate debt securities | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Corporate debt securities | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 53,490,000 | 50,644,000 | 51,138,000 | |||
Collateralized Loan Obligations | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 293,965,000 | 293,687,000 | 158,095,000 | |||
Collateralized Loan Obligations | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Collateralized Loan Obligations | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 0 | 0 | 0 | |||
Collateralized Loan Obligations | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Available-for-sale | 293,965,000 | 293,687,000 | 158,095,000 | |||
Not Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 50,550,000 | [6] | 47,902,000 | [6] | 53,158,000 | [6] |
Derivative Liability, Fair Value, Gross Liability | 48,555,000 | 46,627,000 | 47,898,000 | |||
Credit Risk Contract | Not Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | [6] | 0 | [6] | 0 | [6] |
Derivative Liability, Fair Value, Gross Liability | 10,000 | 0 | 0 | |||
Interest Rate Swap | Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | [6] | 0 | [6] | 0 | [6] |
Derivative Liability, Fair Value, Gross Liability | 8,989,000 | 11,574,000 | 14,319,000 | |||
Interest Rate Swap | Designated as Hedging Instrument | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Interest Rate Swap | Designated as Hedging Instrument | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Liability, Fair Value, Gross Liability | ' | 11,574,000 | 14,319,000 | |||
Interest Rate Swap | Designated as Hedging Instrument | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 47,952,000 | [6] | 46,577,000 | [6] | 47,804,000 | [6] |
Derivative Liability, Fair Value, Gross Liability | 47,952,000 | 46,577,000 | 47,804,000 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | ' | 46,577,000 | 47,804,000 | |||
Derivative Liability, Fair Value, Gross Liability | ' | 46,577,000 | 47,804,000 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 2,491,000 | [6] | 891,000 | [6] | 779,000 | [6] |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | ' | 891,000 | 779,000 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Forward sales contracts | Not Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | [6] | 384,000 | [6] | 4,458,000 | [6] |
Derivative Liability, Fair Value, Gross Liability | 545,000 | 0 | 0 | |||
Forward sales contracts | Not Designated as Hedging Instrument | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | ' | ' | |||
Forward sales contracts | Not Designated as Hedging Instrument | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | ' | 384,000 | 4,458,000 | |||
Forward sales contracts | Not Designated as Hedging Instrument | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | ' | ' | |||
Foreign Exchange | Not Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 107,000 | [6] | 50,000 | [6] | 117,000 | [6] |
Derivative Liability, Fair Value, Gross Liability | 48,000 | 50,000 | 94,000 | |||
Foreign Exchange | Not Designated as Hedging Instrument | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Foreign Exchange | Not Designated as Hedging Instrument | Level 2 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | ' | 50,000 | 117,000 | |||
Derivative Liability, Fair Value, Gross Liability | ' | 50,000 | 94,000 | |||
Foreign Exchange | Not Designated as Hedging Instrument | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Other Contract | Not Designated as Hedging Instrument | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | 0 | [6] | 0 | [6] | 0 | [6] |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||
Other Contract | Not Designated as Hedging Instrument | Level 1 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Liability, Fair Value, Gross Liability | 0 | ' | ' | |||
Other Contract | Not Designated as Hedging Instrument | Level 3 | ' | ' | ' | |||
Recurring Fair Value Measurements | ' | ' | ' | |||
Derivative Liability, Fair Value, Gross Liability | $0 | ' | ' | |||
[1] | (a) - There were no transfers between levels 1 and 2 of the fair value hierarchy during the three months ended JuneB 30, 2014. | |||||
[2] | (b) - MSRs with a recorded investment of $22.2 million were reduced by a specific valuation allowance totaling $0.6 million to a reported carrying value of $21.6 million resulting in recognition of $0.1 million in expense included in loans sales and servicing income in the three months ended JuneB 30, 2014. | |||||
[3] | (c) - Collateral dependent impaired loans with a recorded investment of $62.2 million were reduced by specific valuation allowance allocations totaling $6.2 million to a reported net carrying value of $56.0 million. | |||||
[4] | (d) - Amounts do not include assets held at cost at JuneB 30, 2014. During the three months ended JuneB 30, 2014, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.7 million included in noninterest expense. | |||||
[5] | (e) - Amounts do not include assets held at cost at JuneB 30, 2014. During the three months ended JuneB 30, 2014, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses $0.7 million included in noninterest expense. | |||||
[6] | (a) Included in "Other assets" on the Consolidated Balance Sheets(b) Included in "Other liabilities" on the Consolidated Balance Sheets |
Fair_Value_Measurement_Changes
Fair Value Measurement (Changes in Level 3 Table) (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 | ||||
Fair Value Disclosures [Abstract] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | $0 | $159,916 | $0 | $159,916 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | 0 | 0 | 0 | 0 | ||||
fair value measurement asssets acquired | 0 | [1] | 3,271 | [1] | 0 | [1] | 3,271 | [1] |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ||||
Available-for-sale securities, Beginning balance | 349,425 | 51,234 | 347,610 | 49,661 | ||||
True-up liability, Beginning balance | 11,983 | 12,783 | 11,463 | 12,259 | ||||
Available-for-sale securities, Total unrealized gains/losses | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
True-up liability, Total unrealized gains/losses | 598 | [1] | -1,846 | [1] | 1,118 | [1] | -1,322 | [1] |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 1,253 | [2] | -1,923 | [2] | 3,021 | [2] | -363 | [2] |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] |
Available-for-sale securities, Settlements | 55 | 14 | 102 | 27 | ||||
True-up liability, Settlements | 0 | 0 | 0 | 0 | ||||
Available-for-sale securities, Ending balance | 350,733 | 212,512 | 350,733 | 212,512 | ||||
True-up liability, Ending balance | $12,581 | $10,937 | $12,581 | $10,937 | ||||
[1] | (a) Reported in "Other expense | |||||||
[2] | (b) Reported in "Other comprehensive income (loss) |
Fair_Value_Measurement_Summary
Fair Value Measurement (Summary of Change in Fair Value Carrying Amount of Residential Mortgages ) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | ||
In Thousands, unless otherwise specified | |||||
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | ' | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | $21,632 | $11,622 | $22,855 | ||
Aggregate Fair Value | ' | ' | ' | ||
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | ' | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 21,632 | 11,622 | 22,855 | ||
Contractual Balance | ' | ' | ' | ||
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | ' | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 20,886 | 11,438 | 23,220 | ||
Fair Value, Option, Loans Held as Assets, Aggregate Difference | $746 | [1] | $184 | [1] | ($365) |
[1] | (a) These changes are included in "Loan sales and servicing income" in the Consolidated Statements of Income. |
Fair_Value_Measurement_Fair_Va
Fair Value Measurement (Fair Value Disclosure by Balance Sheet Grouping ) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage Servicing Rights | $22,150,000 | $22,604,000 | $22,150,000 | $22,604,000 | $22,760,000 | $22,469,000 | $21,378,000 | $21,316,000 |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 642,570,000 | 909,490,000 | 642,570,000 | 909,490,000 | 917,822,000 | ' | ' | 258,014,000 |
Cash and due from banks, Fair Value | 642,570,000 | 909,490,000 | 642,570,000 | 909,490,000 | 917,822,000 | ' | ' | ' |
Available-for-sale Securities, Carrying Amount | 3,478,420,000 | 3,299,392,000 | 3,478,420,000 | 3,299,392,000 | 3,273,174,000 | ' | ' | ' |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 3,052,118,000 | 2,551,860,000 | 3,052,118,000 | 2,551,860,000 | 2,935,688,000 | ' | ' | ' |
Held-to-maturity Securities, Carrying Amount | 3,052,118,000 | 2,551,860,000 | 3,052,118,000 | 2,551,860,000 | 2,935,688,000 | ' | ' | ' |
Held-to-maturity Securities, Fair Value Disclosure | 3,001,866,000 | 2,487,071,000 | 3,001,866,000 | 2,487,071,000 | 2,824,240,000 | ' | ' | ' |
Other Investments, Carrying Amount | 148,433,000 | 267,565,000 | 148,433,000 | 267,565,000 | 180,803,000 | ' | ' | ' |
Other Investments, Fair Value | 148,433,000 | 267,565,000 | 148,433,000 | 267,565,000 | 180,803,000 | ' | ' | ' |
Loans Receivable Held-for-sale, Carrying Amount | 21,632,000 | 22,855,000 | 21,632,000 | 22,855,000 | 11,622,000 | ' | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 21,632,000 | 22,855,000 | 21,632,000 | 22,855,000 | 11,622,000 | ' | ' | ' |
Loans and Leases Receivable, Net Amount | 14,827,591,000 | 13,995,709,000 | 14,827,591,000 | 13,995,709,000 | 14,159,720,000 | ' | ' | ' |
Loans and Leases Receivable, Carrying Amount | ' | 9,033,980,000 | ' | 9,033,980,000 | 10,116,903,000 | ' | ' | ' |
Net noncovered loans, Fair Value | 11,458,318,000 | 8,984,845,000 | 11,458,318,000 | 8,984,845,000 | 10,017,722,000 | ' | ' | ' |
Net covered loans and loss share receivable, Carrying Amount | ' | 711,367,000 | ' | 711,367,000 | 547,943,000 | ' | ' | ' |
Net covered loans and loss share receivable, Fair Value | 433,538,000 | 711,367,000 | 433,538,000 | 711,367,000 | 547,943,000 | ' | ' | ' |
Accrued interest receivable, Carrying Amount | 63,172,000 | 48,635,000 | 63,172,000 | 48,635,000 | 52,929,000 | ' | ' | ' |
Accrued interest receivable, Fair Value | 63,172,000 | 48,635,000 | 63,172,000 | 48,635,000 | 52,929,000 | ' | ' | ' |
Derivative Assets, Carrying Amount | 50,550,000 | 53,158,000 | 50,550,000 | 53,158,000 | 47,902,000 | ' | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 50,550,000 | 53,158,000 | 50,550,000 | 53,158,000 | 47,902,000 | ' | ' | ' |
Financial liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits, Carrying Amount | 19,298,396,000 | 19,119,722,000 | 19,298,396,000 | 19,119,722,000 | 19,533,601,000 | ' | ' | ' |
Deposits, Fair Value | 19,300,842,000 | 19,125,843,000 | 19,300,842,000 | 19,125,843,000 | 19,532,368,000 | ' | ' | ' |
Total Federal funds purchased and securities sold under agreements to repurchase, Carrying Amount | 1,218,855,000 | 844,871,000 | 1,218,855,000 | 844,871,000 | 851,535,000 | ' | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 1,218,855,000 | 844,871,000 | 1,218,855,000 | 844,871,000 | 851,535,000 | ' | ' | ' |
Wholesale Borrowings, Carrying Amount | 649,021,000 | 201,337,000 | 649,021,000 | 201,337,000 | 200,600,000 | ' | ' | ' |
Other Borrowings, Fair Value | 652,615,000 | 205,210,000 | 652,615,000 | 205,210,000 | 204,124,000 | ' | ' | ' |
Long-term Debt | 324,433,000 | 324,422,000 | 324,433,000 | 324,422,000 | 324,428,000 | ' | ' | ' |
Long-term Debt, Fair Value | 335,757,000 | 322,322,000 | 335,757,000 | 322,322,000 | 319,711,000 | ' | ' | ' |
Accrued interest payable, Carrying Amount | 8,311,000 | 9,066,000 | 8,311,000 | 9,066,000 | 9,339,000 | ' | ' | ' |
Accrued interest payable, Fair Value | 8,311,000 | 9,066,000 | 8,311,000 | 9,066,000 | 9,339,000 | ' | ' | ' |
Derivative liabilities, Carrying Amount | 57,544,000 | 62,217,000 | 57,544,000 | 62,217,000 | 58,201,000 | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 57,544,000 | 62,217,000 | 57,544,000 | 62,217,000 | 58,201,000 | ' | ' | ' |
Mortgage Servicing rights Valuation Allowance | -562,000 | -482,000 | -562,000 | -482,000 | -282,000 | 425,000 | 1,234,000 | -2,564,000 |
Mortgage Servicing Rights Net Carrying balance | 21,588,000 | 22,122,000 | 21,588,000 | 22,122,000 | 22,500,000 | ' | ' | ' |
Mortgage Servicing Rights (MSR) Impairment (Recovery) | -137,000 | 752,000 | -280,000 | -2,082,000 | 2,300,000 | ' | ' | ' |
Impaired Collateral Dependant Loans, Recorded Investment | 62,200,000 | 58,100,000 | 62,200,000 | 58,100,000 | 52,600,000 | ' | ' | ' |
Determination Of Specific Allowance For Loan Losses | -6,200,000 | -5,500,000 | -6,200,000 | -5,500,000 | -4,800,000 | ' | ' | ' |
Fair Value, Inputs, Level 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and due from banks, Fair Value | ' | 909,490,000 | ' | 909,490,000 | 917,822,000 | ' | ' | ' |
Available-for-sale Securities, Carrying Amount | 2,935,000 | 3,213,000 | 2,935,000 | 3,213,000 | 3,036,000 | ' | ' | ' |
Held-to-maturity Securities, Fair Value Disclosure | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Other Investments, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Net noncovered loans, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Net covered loans and loss share receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Accrued interest receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Financial liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Other Borrowings, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Long-term Debt, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Accrued interest payable, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Fair Value, Inputs, Level 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and due from banks, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Available-for-sale Securities, Carrying Amount | 3,124,752,000 | 3,083,667,000 | 3,124,752,000 | 3,083,667,000 | 2,922,527,000 | ' | ' | ' |
Held-to-maturity Securities, Fair Value Disclosure | 3,001,866,000 | 2,487,071,000 | 3,001,866,000 | 2,487,071,000 | 2,824,240,000 | ' | ' | ' |
Other Investments, Fair Value | ' | 267,565,000 | ' | 267,565,000 | 180,803,000 | ' | ' | ' |
Loans Receivable Held-for-sale, Carrying Amount | 21,632,000 | ' | 21,632,000 | ' | ' | ' | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | ' | 22,855,000 | ' | 22,855,000 | 11,622,000 | ' | ' | ' |
Net noncovered loans, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Net covered loans and loss share receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Accrued interest receivable, Fair Value | 63,172,000 | 48,635,000 | 63,172,000 | 48,635,000 | 52,929,000 | ' | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 50,550,000 | 53,158,000 | 50,550,000 | 53,158,000 | 47,902,000 | ' | ' | ' |
Financial liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits, Fair Value | 19,300,842,000 | 19,125,843,000 | 19,300,842,000 | 19,125,843,000 | 19,532,368,000 | ' | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | ' | 844,871,000 | ' | 844,871,000 | 851,535,000 | ' | ' | ' |
Other Borrowings, Fair Value | 652,615,000 | 205,210,000 | 652,615,000 | 205,210,000 | 204,124,000 | ' | ' | ' |
Long-term Debt, Fair Value | 335,757,000 | 322,322,000 | 335,757,000 | 322,322,000 | 319,711,000 | ' | ' | ' |
Accrued interest payable, Fair Value | 8,311,000 | 9,066,000 | 8,311,000 | 9,066,000 | 9,339,000 | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 57,544,000 | 62,217,000 | 57,544,000 | 62,217,000 | 58,201,000 | ' | ' | ' |
Level 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and due from banks, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Available-for-sale Securities, Carrying Amount | 350,733,000 | 212,512,000 | 350,733,000 | 212,512,000 | 347,611,000 | ' | ' | ' |
Held-to-maturity Securities, Fair Value Disclosure | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Other Investments, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Net noncovered loans, Fair Value | 11,458,318,000 | 8,984,845,000 | 11,458,318,000 | 8,984,845,000 | 10,017,722,000 | ' | ' | ' |
Net covered loans and loss share receivable, Fair Value | 433,538,000 | 711,367,000 | 433,538,000 | 711,367,000 | 547,943,000 | ' | ' | ' |
Accrued interest receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Financial liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Other Borrowings, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Long-term Debt, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Accrued interest payable, Fair Value | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Originated Loans | ' | ' | ' | ' | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Net Amount | 11,375,243,000 | 9,033,980,000 | 11,375,243,000 | 9,033,980,000 | 10,116,903,000 | ' | ' | ' |
Acquired Loans | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Receivable, Fair Value Disclosure | ' | ' | ' | ' | 3,627,275,000 | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Net Amount | 3,018,810,000 | ' | 3,018,810,000 | ' | 3,494,874,000 | ' | ' | ' |
Net noncovered loans, Fair Value | 3,166,228,000 | 4,250,362,000 | 3,166,228,000 | 4,250,362,000 | ' | ' | ' | ' |
Acquired Loans | Fair Value, Inputs, Level 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Net noncovered loans, Fair Value | 0 | ' | 0 | ' | ' | ' | ' | ' |
Acquired Loans | Fair Value, Inputs, Level 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Net noncovered loans, Fair Value | 0 | ' | 0 | ' | ' | ' | ' | ' |
Acquired Loans | Level 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Receivable, Fair Value Disclosure | ' | ' | ' | ' | 3,627,275,000 | ' | ' | ' |
Financial assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Net noncovered loans, Fair Value | $3,166,228,000 | $4,250,362,000 | $3,166,228,000 | $4,250,362,000 | ' | ' | ' | ' |
Fair_Value_Measurement_Narrati
Fair Value Measurement (Narrative) (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage Servicing Rights | $22,150,000 | $22,604,000 | $22,150,000 | $22,604,000 | $22,760,000 | $22,469,000 | $21,378,000 | $21,316,000 |
Mortgage Servicing rights Valuation Allowance | -562,000 | -482,000 | -562,000 | -482,000 | -282,000 | 425,000 | 1,234,000 | -2,564,000 |
Mortgage Servicing Rights Net Carrying balance | 21,588,000 | 22,122,000 | 21,588,000 | 22,122,000 | 22,500,000 | ' | ' | ' |
Mortgage Servicing Rights (MSR) Impairment (Recovery) | -137,000 | 752,000 | -280,000 | -2,082,000 | 2,300,000 | ' | ' | ' |
Impaired Collateral Dependant Loans, Recorded Investment | 62,200,000 | 58,100,000 | 62,200,000 | 58,100,000 | 52,600,000 | ' | ' | ' |
Determination Of Specific Allowance For Loan Losses | 6,200,000 | 5,500,000 | 6,200,000 | 5,500,000 | 4,800,000 | ' | ' | ' |
Collateral Dependant Impaired and Non Accrual Loans Carrying Amount | 56,000,000 | 52,600,000 | 56,000,000 | 52,600,000 | 47,900,000 | ' | ' | ' |
Impairment of Real Estate | 700,000 | 300,000 | ' | ' | 1,400,000 | ' | ' | ' |
Impairment of Covered Other Real Esate Owned | 700,000 | 600,000 | ' | ' | 1,000,000 | ' | ' | ' |
Percent of available for sale securities classified as level 2 | 90.00% | ' | 90.00% | ' | ' | ' | ' | ' |
Percentage of Level 3 investments in available for sale investment portfolio | 10.00% | ' | 10.00% | ' | ' | ' | ' | ' |
True up liability, discount period | ' | ' | '10 years | ' | ' | ' | ' | ' |
True-up Liabitlity Discount Rate | 3.12% | 3.59% | 3.12% | 3.59% | ' | ' | ' | ' |
True-up Liability Effect of Change in Discount Rate Increase By One Percent | 700,000 | ' | 700,000 | ' | ' | ' | ' | ' |
True-up Liability Effect of Change in Discount Rate Decrease by One Percent | 800,000 | ' | 800,000 | ' | ' | ' | ' | ' |
Number of loans that were 90 days or more past due, or were any on nonaccrual status | ' | ' | 0 | ' | ' | ' | ' | ' |
Midwest | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of true up liability | 7,900,000 | 6,800,000 | 7,900,000 | 6,800,000 | 7,100,000 | ' | ' | ' |
Percent of cumulative shared loss payments under loss sharing agreements | 25.00% | ' | 25.00% | ' | ' | ' | ' | ' |
Percent of FDIC Intrinsic Loss Estimate | 20.00% | ' | 20.00% | ' | ' | ' | ' | ' |
Intrinsic Loss Estimate of the FDIC | 152,000,000 | ' | 152,000,000 | ' | ' | ' | ' | ' |
Percent of Asset Premium Paid | 25.00% | ' | 25.00% | ' | ' | ' | ' | ' |
Asset Premium Paid | 21,000,000 | ' | 21,000,000 | ' | ' | ' | ' | ' |
George Washington | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of true up liability | 4,700,000 | 4,100,000 | 4,700,000 | 4,100,000 | 4,300,000 | ' | ' | ' |
Percent of excess threshold paid by the Bank under loss sharing agreements | 50.00% | ' | 50.00% | ' | ' | ' | ' | ' |
Percent Theshold of Loss Sharing Agreements Paid by Bank | 20.00% | ' | 20.00% | ' | ' | ' | ' | ' |
Stated Threshold of Loss Sharing Agreements Paid by Bank | 34,400,000 | ' | 34,400,000 | ' | ' | ' | ' | ' |
Percent of Asset Discount Under Loss Sharing Percent of Asset Discount Under Loss Sharing Agreements | 25.00% | ' | 25.00% | ' | ' | ' | ' | ' |
Stated amount of Asset Discount Under Loss Sharing Agreements | $12,000,000 | ' | $12,000,000 | ' | ' | ' | ' | ' |
Percent of cumulative shared loss payments under loss sharing agreements | 25.00% | ' | 25.00% | ' | ' | ' | ' | ' |
Mortgage_Servicing_Rights_and_2
Mortgage Servicing Rights and Mortgage Servicing Activity-Changes in the carrying amount of mortgage servicing rights (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Apr. 12, 2013 | ||||
Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Citizens Republic Bancorp | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | ||||||||||
Citizens Republic Bancorp | Citizens Republic Bancorp | ||||||||||||||
Mortage Servicing Rights Amortized Value [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Mortgage Servicing Rights Beginning of Period | $22,469 | $21,378 | $22,760 | $21,316 | $21,316 | ' | ' | ' | $0 | $0 | $1,065 | ||||
Mortgage Servicing Rights Additions | 643 | 1,434 | 1,207 | 2,701 | ' | ' | ' | ' | ' | ' | ' | ||||
Amortization of Mortgage Servicing Rights (MSRs) | 963 | -1,273 | 1,817 | -2,478 | ' | ' | ' | ' | ' | ' | ' | ||||
Mortgage Servicing Rights, End of Period | 22,150 | 22,604 | 22,150 | 22,604 | 22,760 | ' | ' | ' | 0 | 0 | 1,065 | ||||
Mortage Servicing Rights Valuation Rollforward [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Mortgage Servicing rights Valuation Allowance Beginning of Period | 425 | 1,234 | -282 | -2,564 | -2,564 | ' | ' | ' | ' | ' | ' | ||||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | -137 | 752 | -280 | -2,082 | 2,300 | ' | ' | ' | ' | ' | ' | ||||
Mortgage Servicing rights Valuation Allowance, End of Period | -562 | -482 | -562 | -482 | -282 | ' | ' | ' | ' | ' | ' | ||||
Mortgage Servicing Rights Net Carrying balance | 21,588 | 22,122 | 21,588 | 22,122 | 22,500 | ' | ' | ' | ' | ' | ' | ||||
Fair Value of Mortgage Servicing Rights | $21,987 | [1] | $22,529 | $21,987 | [1] | $22,529 | $23,041 | [1] | $21,987 | [1] | $23,041 | $22,529 | ' | ' | ' |
[1] | (b) - MSRs with a recorded investment of $22.2 million were reduced by a specific valuation allowance totaling $0.6 million to a reported carrying value of $21.6 million resulting in recognition of $0.1 million in expense included in loans sales and servicing income in the three months ended JuneB 30, 2014. |
Mortgage_Servicing_Rights_and_3
Mortgage Servicing Rights and Mortgage Servicing Activity Mortgage Servicing Rights and Mortgage Servicing Activity-Changes in Key Economic Assumptions (Details) (USD $) | 3 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 |
Changes in Key Assumptions [Abstract] | ' | ' |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | ' | 10.64% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | $743 | $743 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor Servicing Assets or Liabilities Impact of Twenty Five Percent Adverse Change in Prepayment Speed | 1,783 | 1,783 |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | ' | 9.90% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor Servicing Assets or Liabilities Impact of Hundred Basis Point Adverse Change in Discount Rate | 682 | 682 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor Servicing Assets or Liabilities Impact of Two Hundred Basis Point Adverse Change in Discount Rate | $1,320 | $1,320 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Life | '99 months 9 days | ' |
Mortgage_Servicing_Rights_and_4
Mortgage Servicing Rights and Mortgage Servicing Activity (Details Textual) (USD $) | 6 Months Ended | |||||
Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | |
Servicing Assets at Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Mortgage Servicing Rights | $22,150,000 | $22,604,000 | $22,469,000 | $22,760,000 | $21,378,000 | $21,316,000 |
Unpaid principal balances from sale of residential mortgage loans | 143,600,000 | 310,100,000 | ' | ' | ' | ' |
Recognized pretax gains | 3,500,000 | 6,700,000 | ' | ' | ' | ' |
Related mortgage servicing rights from loans sold and receives servicing fees | 125,200,000 | 285,300,000 | ' | ' | ' | ' |
Minimum percentage adverse change in prepayment speed | 10.00% | ' | ' | ' | ' | ' |
Maximum percentage adverse change in prepayment speed | 25.00% | ' | ' | ' | ' | ' |
Percentage of variation in prepayment speed | 10.00% | ' | ' | ' | ' | ' |
Residential Mortgages | ' | ' | ' | ' | ' | ' |
Servicing Assets at Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Loan servicing fees | 3,300,000 | 3,100,000 | ' | ' | ' | ' |
Servicing Asset | $2,700,000,000 | ' | ' | ' | ' | ' |
Commitments_and_ContingenciesS
Commitments and Contingencies-Schedule of Commitments to Extend Credit (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Loan Commitments | $5,666,483 | $5,546,635 | $5,116,633 |
Commercial Loan | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Loan Commitments | 3,386,052 | 3,367,625 | 3,020,138 |
Total consumer | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Loan Commitments | $2,280,431 | $2,179,010 | $2,096,495 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Schedule of Guarantor Obligations) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Guarantor Obligations [Line Items] | ' | ' | ' |
Guarantor Obligations, Current Carrying Value | $235,874 | $241,482 | $294,125 |
Standby Letters of Credit | ' | ' | ' |
Guarantor Obligations [Line Items] | ' | ' | ' |
Guarantor Obligations, Current Carrying Value | 201,212 | 196,400 | 239,181 |
Loans Sold with Recourse | ' | ' | ' |
Guarantor Obligations [Line Items] | ' | ' | ' |
Guarantor Obligations, Current Carrying Value | $34,662 | $45,082 | $54,944 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Changes in Repurchase Reserve) (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 | Apr. 12, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, Repurchase Reserve, Assumed Obligation | ' | $6,000 | ' | $6,000 | $6,000 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Financing Receivable, Repurchase Reserve, Beginning Balance | 9,317 | 2,738 | 9,851 | 2,667 | ' |
Financing Receivable, Repurchase Reserve Net Realized Gains (Losses) | -164 | -928 | -2,757 | -1,070 | ' |
Financing Receivable, Repurchase Reserve, Period Increase (Decrease) | -131 | 583 | 1,928 | 796 | ' |
Financing Receivable, Repurchase Reserve, Ending Balance | 9,022 | 8,393 | 9,022 | 8,393 | ' |
Residential Mortgages | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, Repurchase Reserve, Assumed Obligation | ' | 6,000 | ' | 6,000 | 6,000 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Financing Receivable, Repurchase Reserve, Beginning Balance | 8,200 | 1,600 | 8,737 | 1,500 | ' |
Financing Receivable, Repurchase Reserve Net Realized Gains (Losses) | -164 | -928 | -2,757 | -1,070 | ' |
Financing Receivable, Repurchase Reserve, Period Increase (Decrease) | -136 | 615 | 1,920 | 857 | ' |
Financing Receivable, Repurchase Reserve, Ending Balance | 7,900 | 7,287 | 7,900 | 7,287 | ' |
Manufactured Housing | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, Repurchase Reserve, Assumed Obligation | ' | 0 | ' | 0 | 0 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Financing Receivable, Repurchase Reserve, Beginning Balance | 1,117 | 1,138 | 1,114 | 1,167 | ' |
Financing Receivable, Repurchase Reserve Net Realized Gains (Losses) | 0 | 0 | 0 | 0 | ' |
Financing Receivable, Repurchase Reserve, Period Increase (Decrease) | 5 | -32 | 8 | -61 | ' |
Financing Receivable, Repurchase Reserve, Ending Balance | $1,122 | $1,106 | $1,122 | $1,106 | ' |
Commitments_and_Contingencies_3
Commitments and Contingencies Litigation (Details) | Jun. 30, 2014 |
Overdraft litigation [Member] | ' |
Loss Contingencies [Line Items] | ' |
Loss Contingency, Pending Claims, Number | 2 |
Merger litigation [Member] | ' |
Loss Contingencies [Line Items] | ' |
Loss Contingency, Pending Claims, Number | 6 |
Commitments_and_Contingencies_4
Commitments and Contingencies (Narratives) (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Asset sales [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Repurchase Reserve | $9,022,000 | $9,317,000 | $9,851,000 | $8,393,000 | $2,738,000 | $2,667,000 |
Allowance for Loan and Leases Losses, Reserve Associated with Loans Sold with Recourse | 9,000,000 | ' | 9,900,000 | 8,400,000 | ' | ' |
Guarantor Obligations, Short-Term | 113,700,000 | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Unfunded Lending Commitments | 7,100,000 | ' | 7,900,000 | 8,100,000 | ' | ' |
Residential Mortgages | ' | ' | ' | ' | ' | ' |
Asset sales [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Loans Sold to Third Party Investors | 24,100,000 | ' | 34,600,000 | 41,900,000 | ' | ' |
Financing Receivable, Repurchase Reserve | 7,900,000 | 8,200,000 | 8,737,000 | 7,287,000 | 1,600,000 | 1,500,000 |
Manufactured Housing | ' | ' | ' | ' | ' | ' |
Asset sales [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Loans Sold to Third Party Investors | 6,400,000 | ' | 6,400,000 | 8,200,000 | ' | ' |
Financing Receivable, Repurchase Reserve | $1,122,000 | $1,117,000 | $1,114,000 | $1,106,000 | $1,138,000 | $1,167,000 |
Overdraft litigation [Member] | ' | ' | ' | ' | ' | ' |
Asset sales [Line Items] | ' | ' | ' | ' | ' | ' |
Loss Contingency, Pending Claims, Number | 2 | ' | ' | ' | ' | ' |
Changes_and_Reclassifications_2
Changes and Reclassifications Out of Accumulated Other Comprehensive Income Schedule of Accumulated Other Comprehensive Income(Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), before Tax | $1,097 | ' | $0 | ' | $1,097 | $0 | ' | ' |
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax | 383 | ' | 0 | ' | 383 | 0 | ' | ' |
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Net of Tax | 714 | ' | 0 | ' | 714 | 0 | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 0 | ' | 0 | ' | 0 | 0 | ' | ' |
Accumulated Other Comprehensive Income (Loss), before Tax | -60,780 | ' | -110,608 | ' | -60,780 | -110,608 | ' | ' |
accumulated other comprehensive income, tax | -21,273 | ' | -38,712 | ' | -21,273 | -38,712 | ' | ' |
Accumulated other comprehensive loss | -39,507 | ' | -71,897 | ' | -39,507 | -71,897 | -66,876 | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 22,456 | ' | -75,729 | ' | 40,500 | -87,362 | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 7,860 | ' | -26,505 | ' | 14,175 | -30,577 | ' | ' |
Other Comprehensive Income (Loss), Arising During Period, Net of Tax | 14,596 | ' | -49,224 | ' | 26,325 | -56,785 | ' | ' |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, before Tax | -494 | ' | -568 | ' | -988 | -1,120 | ' | ' |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Tax | -173 | ' | -199 | ' | -346 | -392 | ' | ' |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax | -321 | ' | -369 | ' | -642 | -728 | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | -80 | ' | 2,794 | ' | -136 | 2,803 | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | -28 | ' | 978 | ' | -48 | 982 | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | -52 | ' | 1,816 | ' | -88 | 1,821 | ' | ' |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | -55,084 | -57,812 | -110,188 | -110,188 | -55,084 | -110,188 | -57,812 | -110,188 |
Accumulated other comprehensive income reclassifications, benefit plan, tax | -19,279 | ' | ' | -38,565 | -19,279 | -38,565 | ' | ' |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | 954 | -20,233 | 0 | ' | 954 | 0 | -20,233 | -38,565 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -35,805 | -37,579 | -71,623 | -71,623 | -35,805 | -71,623 | -37,579 | -71,623 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax | 0 | ' | 0 | ' | 0 | 0 | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | ' | 0 | ' | 0 | 0 | ' | ' |
Other Comprehensive Income Defined benefit plan, amortization of gains, before tax | 1,631 | ' | 0 | ' | 1,631 | 0 | ' | ' |
Other comprehensive Income, Defined Benefit Plan, Amortization of Gains, tax | 571 | ' | 0 | ' | 571 | 0 | ' | ' |
Other Comprehensive Income, Defined benefit plan, amortization of gains, after tax | 1,060 | ' | 0 | ' | 1,060 | 0 | ' | ' |
Accumulated Net Unrealized Investment Gain (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), before Tax | -5,696 | -27,578 | -420 | 73,083 | -5,696 | -420 | -45,072 | 85,259 |
accumulated other comprehensive income, tax | -1,994 | -9,653 | -147 | 25,579 | -1,994 | -147 | -15,775 | 29,841 |
Accumulated other comprehensive loss | ($3,702) | ($17,925) | ($273) | $47,504 | ($3,702) | ($273) | ($29,297) | $55,418 |
Changes_and_Reclassifications_3
Changes and Reclassifications Out of Accumulated Other Comprehensive Income Tax Effect of Changes and Reclassifications Out of Accumulated 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 | Dec. 31, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | ($80) | $2,794 | ($136) | $2,803 | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | -28 | 978 | -48 | 982 | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | -52 | 1,816 | -88 | 1,821 | ' |
Accumulated other comprehensive loss | ($39,507) | ($71,897) | ($39,507) | ($71,897) | ($66,876) |