Document and Entity Information
Document and Entity Information Document - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 28, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | FIRSTMERIT CORP /OH/ | |
Entity Central Index Key | 354,869 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 165,765,245 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
ASSETS | |||
Cash and due from banks | $ 472,848 | $ 480,998 | $ 523,027 |
Interest-bearing deposits in banks | 114,741 | 216,426 | 119,543 |
Total cash and cash equivalents | 587,589 | 697,424 | 642,570 |
Investment securities: | |||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 2,787,513 | 2,903,609 | 3,052,118 |
Available-for-sale | 3,838,509 | 3,545,288 | 3,478,420 |
Other investments | 147,967 | 148,654 | 148,433 |
Loans Receivable Held-for-sale, Carrying Amount | 5,432 | 13,428 | 21,632 |
Loans | 15,705,110 | 15,326,147 | 14,969,627 |
Allowance for loan losses | (148,259) | (143,649) | (142,036) |
Net loans | 15,556,851 | 15,182,498 | 14,827,591 |
Premises and equipment, net | 313,819 | 332,297 | 315,770 |
Goodwill | 741,740 | 741,740 | 741,740 |
Intangible assets | 65,824 | 71,020 | 76,886 |
Covered other real estate | 1,065 | 49,641 | 51,072 |
Accrued interest receivable and other assets | 1,250,705 | 1,216,748 | 1,208,199 |
Total assets | 25,297,014 | 24,902,347 | 24,564,431 |
Deposits: | |||
Noninterest-bearing | 5,725,850 | 5,786,662 | 5,525,484 |
Interest-bearing | 3,304,969 | 3,028,888 | 3,028,479 |
Savings and money market accounts | 8,418,716 | 8,399,612 | 8,476,096 |
Certificates and other time deposits | 2,224,315 | 2,289,503 | 2,268,337 |
Total deposits | 19,673,850 | 19,504,665 | 19,298,396 |
Federal funds purchased and securities sold under agreements to repurchase | 1,519,250 | 1,272,591 | 1,218,855 |
Wholesale borrowings | 366,074 | 428,071 | 649,021 |
Long-term debt | 497,393 | 505,192 | 324,433 |
Accrued taxes, expenses and other liabilities | 352,490 | 357,547 | 281,988 |
Total liabilities | 22,409,057 | 22,068,066 | 21,772,693 |
Shareholders' equity: | |||
Preferred Stock, Value, Issued | 100,000 | 100,000 | 100,000 |
Common Stock warrant | 0 | 3,000 | 3,000 |
Common Stock, without par value; authorized 300,000,000 shares; issued: June 30, 2015, December 31, 2014 and June 30, 2014 - 170,183,540 shares | 127,937 | 127,937 | 127,937 |
Capital surplus | 1,379,194 | 1,393,090 | 1,387,253 |
Accumulated other comprehensive loss | (67,621) | (71,892) | (39,507) |
Retained earnings | 1,462,859 | 1,404,717 | 1,335,371 |
Treasury stock, at cost: June 30, 2015 - 4,410,939; December 31, 2014 - 4,793,566 shares; June 30, 2014 - 4,790,517 shares | (114,412) | (122,571) | (122,316) |
Total shareholders' equity | 2,887,957 | 2,834,281 | 2,791,738 |
Total liabilities and shareholders' equity | $ 25,297,014 | $ 24,902,347 | $ 24,564,431 |
Consolidated Balance Sheets Par
Consolidated Balance Sheets Parenthetical - shares | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Statement of Financial Position [Abstract] | |||
Common stock, shares authorized | 300,000,000 | 300,000,000 | 300,000,000 |
Common stock, shares issued | 170,183,540 | 170,183,540 | 170,183,540 |
5.875% Non-Cumulative Perpetual Preferred stock, Series A, authorized 115,000 shares | 115,000 | 115,000 | 115,000 |
5.875% Non-Cumulative Perpetual Preferred stock, Series A, 100,000 outstanding | 100,000 | 100,000 | 100,000 |
Treasury stock, at cost | 4,410,939 | 4,793,566 | 4,790,517 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest income: | ||||
Loans and loans held for sale | $ 161,872 | $ 172,517 | $ 323,411 | $ 343,030 |
Investment securities: | ||||
Taxable | 32,175 | 32,253 | 64,125 | 64,275 |
Tax-exempt | 5,327 | 5,555 | 11,353 | 10,895 |
Total investment securities interest | 37,502 | 37,808 | 75,478 | 75,170 |
Total interest income | 199,374 | 210,325 | 398,889 | 418,200 |
Deposits: | ||||
Interest bearing | 783 | 745 | 1,550 | 1,481 |
Savings and money market accounts | 5,588 | 5,477 | 11,135 | 11,035 |
Certificates and other time deposits | 2,510 | 3,009 | 4,687 | 5,473 |
Federal funds purchased and securities sold under agreements to repurchase | 329 | 233 | 572 | 429 |
Wholesale borrowings | 2,351 | 1,391 | 4,691 | 2,520 |
Long-term debt | 2,695 | 3,893 | 5,513 | 7,783 |
Total interest expense | 14,256 | 14,748 | 28,148 | 28,721 |
Net interest income | 185,118 | 195,577 | 370,741 | 389,479 |
Provision for Loan and Lease Losses | 8,966 | 15,253 | 17,214 | 29,790 |
Net interest income after provision for loan losses | 176,152 | 180,324 | 353,527 | 359,689 |
Noninterest income: | ||||
Trust department income | 10,820 | 10,070 | 20,969 | 19,818 |
Service charges on deposits | 16,704 | 18,528 | 32,372 | 35,176 |
Credit card fees | 14,124 | 13,455 | 26,773 | 25,607 |
ATM and other service fees | 6,345 | 5,996 | 12,444 | 11,816 |
Bank owned life insurance income | 3,697 | 4,040 | 7,289 | 7,622 |
Investment services and insurance | 3,871 | 3,852 | 7,575 | 7,368 |
Investment securities gains/(losses), net | 567 | 80 | 921 | 136 |
Loan sales and servicing income | 3,276 | 4,462 | 4,876 | 8,192 |
Other operating income | 7,178 | 12,077 | 19,210 | 24,096 |
Total noninterest income | 66,582 | 72,560 | 132,429 | 139,831 |
Noninterest expense: | ||||
Salaries, wages, pension and employee benefits | 86,020 | 89,465 | 176,546 | 178,478 |
Net occupancy expense | 13,727 | 14,347 | 29,681 | 31,361 |
Equipment expense | 12,592 | 12,267 | 23,617 | 24,178 |
Stationery, supplies and postage | 3,370 | 3,990 | 6,898 | 8,097 |
Bankcard, loan processing and other costs | 12,461 | 11,810 | 23,600 | 22,644 |
Professional services | 5,358 | 4,745 | 9,368 | 10,103 |
Amortization of intangibles | 2,598 | 2,933 | 5,196 | 5,869 |
FDIC insurance expense | 5,077 | 5,533 | 10,244 | 11,504 |
Other operating expense | 20,471 | 22,310 | 37,176 | 44,499 |
Total noninterest expense | 161,674 | 167,400 | 322,326 | 336,733 |
Income before income tax expense | 81,060 | 85,484 | 163,630 | 162,787 |
Income tax expense | 24,476 | 25,965 | 49,907 | 49,813 |
Net income | 56,584 | 59,519 | 113,723 | 112,974 |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | 467 | 489 | 937 | 926 |
Preferred Stock Dividends, Income Statement Impact | 1,469 | 1,469 | 2,938 | 2,938 |
Net income attributable to common shareholders | 54,648 | 57,561 | 109,848 | 109,110 |
Net income used in diluted EPS calculation | $ 54,648 | $ 57,561 | $ 109,848 | $ 109,110 |
Weighted average number of common shares outstanding - basic | 165,736 | 165,335 | 165,574 | 165,198 |
Weighted average number of common shares outstanding - diluted | 166,277 | 166,147 | 166,089 | 166,052 |
Basic earnings per common share | $ 0.33 | $ 0.35 | $ 0.66 | $ 0.66 |
Diluted earnings per common share | 0.33 | 0.35 | 0.66 | 0.66 |
Cash dividend per common share | $ 0.16 | $ 0.16 | $ 0.32 | $ 0.32 |
Statement of Comprehensive Inco
Statement of Comprehensive Income Statement of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income, Pretax | $ 81,060 | $ 85,484 | $ 163,630 | $ 162,787 |
Net Income, Tax | 24,476 | 25,965 | 49,907 | 49,813 |
Net Income, After Tax | 56,584 | 59,519 | 113,723 | 112,974 |
Changes in unrealized securities' holding gains/(losses), before Tax | (28,642) | 22,456 | 5,475 | 40,500 |
Changes in unrealized securities' holding gains/(losses), Tax | (10,024) | 7,860 | 1,916 | 14,175 |
Changes in unrealized securities' holding gains/(losses), Net of Tax | (18,618) | 14,596 | 3,559 | 26,325 |
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, before Tax | (575) | (494) | (1,079) | (988) |
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, Tax | (203) | (173) | (378) | (346) |
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity , Net of Tax | (372) | (321) | (701) | (642) |
Net losses/(gains) realized on sale of securities reclassified to noninterest income, before Tax | (567) | (80) | (921) | (136) |
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Tax | (198) | (28) | (322) | (48) |
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Net of Tax | (369) | (52) | (599) | (88) |
Net change in unrealized gains/(losses) on securities available for sale, before Tax | (29,784) | 21,882 | 3,475 | 39,376 |
Net change in unrealized gains/(losses) on securities available for sale, Tax | (10,425) | 7,659 | 1,216 | 13,781 |
Net change in unrealized gains/(losses) on securities available for sale, Net of Tax | (19,359) | 14,223 | 2,259 | 25,595 |
Amortization of actuarial losses/(gains), before Tax | 1,138 | 1,631 | 2,276 | 1,631 |
Amortization of actuarial losses/(gains), Tax | 399 | 571 | 797 | 571 |
Amortization of actuarial losses/(gains), Net of Tax | 739 | 1,060 | 1,479 | 1,060 |
Amortization of prior service cost reclassified to other noninterest expense, before Tax | (410) | (1,097) | (820) | (1,097) |
Amortization of prior service cost reclassified to other noninterest expense, Tax | (144) | (383) | (287) | (383) |
Amortization of prior service cost reclassified to other noninterest expense, Net of Tax | (266) | (714) | (533) | (714) |
Net change from defined benefit pension plans, before Tax | 1,548 | 2,728 | 3,096 | 2,728 |
Net change from defined benefit pension plans, Tax | 543 | 954 | 1,084 | 954 |
Net change from defined benefit pension plans, Net of Tax | 1,005 | 1,774 | 2,012 | 1,774 |
Total other comprehensive gains/(losses), before Tax | (28,236) | 24,610 | 6,571 | 42,104 |
Total other comprehensive gains/(losses), Tax | (9,882) | 8,613 | 2,300 | 14,735 |
Total other comprehensive gains/(losses), Net of Tax | (18,354) | 15,997 | 4,271 | 27,369 |
Comprehensive Income, before Tax, Portion Attributable to Parent | 52,824 | 110,094 | 170,201 | 204,891 |
Comprehensive Income, Tax, Portion Attributable to Parent | 14,594 | 34,578 | 52,207 | 64,548 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 38,230 | 75,516 | 117,994 | 140,343 |
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 (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock | Common Stock | Warrant | Capital Surplus | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Treasury Stock |
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) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 112,974 | 112,974 | ||||||
Total other comprehensive gains/(losses), Net of Tax | 27,369 | 27,369 | ||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 140,343 | 27,369 | 112,974 | |||||
Dividends, Preferred Stock, Cash | (2,938) | (2,938) | ||||||
Cash dividends - common stock | (52,640) | (52,640) | ||||||
Nonvested (restricted) shares granted | 99 | (12,993) | 13,092 | |||||
Restricted Stock Activity | (4,221) | 802 | (5,023) | |||||
Deferred compensation trust | 0 | 600 | (600) | |||||
Share-based compensation | 8,201 | 8,201 | ||||||
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) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Payments for Repurchase of Warrants | 0 | |||||||
Beginning Balance at Dec. 31, 2014 | 2,834,281 | 100,000 | 127,937 | 3,000 | 1,393,090 | (71,892) | 1,404,717 | (122,571) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 113,723 | 0 | 0 | 0 | 0 | 0 | 113,723 | 0 |
Total other comprehensive gains/(losses), Net of Tax | 4,271 | 4,271 | ||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 117,994 | 4,271 | 113,723 | |||||
Dividends, Preferred Stock, Cash | (2,938) | (2,938) | ||||||
Cash dividends - common stock | (52,643) | (52,643) | ||||||
Nonvested (restricted) shares granted | 0 | (14,340) | 14,340 | |||||
Restricted Stock Activity | (4,253) | 1,291 | (5,544) | |||||
Deferred compensation trust | 0 | 637 | (637) | |||||
Share-based compensation | 7,666 | 7,666 | ||||||
Ending Balance at Jun. 30, 2015 | 2,887,957 | $ 100,000 | $ 127,937 | 0 | 1,379,194 | $ (67,621) | $ 1,462,859 | $ (114,412) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Adjustments to Additional Paid in Capital, Warrant Issued | $ (3,000) | |||||||
Adjustments to Additional Paid in Capital, Warrant Issued | $ (9,150) | |||||||
Payments for Repurchase of Warrants | $ (12,150) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Common Stock, Dividends, Per Share, Declared | $ 0.32 | $ 0.32 |
Stock Repurchased During Period, Shares | 2,571,998 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 659,432 | 573,881 |
Treasury Stock, Shares, Acquired | 276,805 | 237,066 |
Stock Issued During Period, Shares, Treasury Stock Reissued | 234,703 | 173,959 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities | ||
Net income | $ 113,723 | $ 112,974 |
Adjustments to reconcile net income to net cash provided and used by operating activities: | ||
Provision for loan losses | 17,214 | 29,790 |
Increase (Decrease) in Provision for Deferred Income Taxes | 4,162 | 13,352 |
Depreciation, Depletion and Amortization | 31,274 | 25,450 |
Benefit attributable to FDIC loss share | 6,046 | 927 |
Accretion of acquired loans | (51,170) | (74,126) |
Amortization and accretion of investment securities, net | ||
Available-for-sale | 5,407 | 4,137 |
Held-to-maturity | 2,110 | 4,236 |
Losses/(gains) on sales and calls of available-for-sale investment securities, net | (921) | (136) |
Originations of loans held for sale | (51,673) | (153,569) |
Proceeds from sales of loans, primarily mortgage loans sold in the secondary markets | 60,429 | 147,015 |
Gains on sales of loans, net | (760) | (3,456) |
Amortization of Intangible Assets | 5,196 | 5,869 |
Share-based Compensation | 7,666 | 8,201 |
Net decrease/(increase) in other assets | 1,442 | 4,168 |
Net increase/(decrease) in other liabilities | (1,519) | (21,506) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 148,626 | 103,326 |
Proceeds from sale of investment securities | ||
Available-for-sale | 171,725 | 8,438 |
Proceeds from Sale of Other Investments | 668 | 32,487 |
Other | 1,015 | 2,495 |
Proceeds from prepayments, calls, and maturities of investment securities | ||
Available-for-sale | 285,541 | 232,087 |
Held-to-maturity | 211,636 | 151,133 |
Proceeds from Sale and Maturity of Other Investments | 165 | 0 |
Purchases of investment securities | ||
Available-for-sale | (758,486) | (411,463) |
Held-to-maturity | (94,756) | (278,407) |
Other | (172) | (142) |
Net decrease/(increase) in loans and leases | (356,117) | (628,735) |
Purchases of premises and equipment | (9,950) | (31,599) |
Sales of premises and equipment | 8,407 | 24,292 |
NET CASH PROVIDED/(USED) BY INVESTING ACTIVITIES | (540,324) | (899,414) |
Financing Activities | ||
Net increase in demand accounts | 215,269 | 68,199 |
Net increase/(decrease) in savings and money market accounts | 19,104 | (111,071) |
Net decrease in certificates and other time deposits | (65,188) | (192,333) |
Net increase/(decrease) in securities sold under agreements to repurchase | 246,659 | 367,320 |
Net increase/(decrease) in wholesale borrowings | (61,997) | 448,421 |
Payments for Repurchase of Warrants | (12,150) | 0 |
Cash dividends - common | (52,643) | (52,640) |
Cash dividends - preferred | (2,938) | (2,938) |
Restricted stock activity | (4,253) | (4,122) |
NET CASH PROVIDED/(USED) BY FINANCING ACTIVITIES | 281,863 | 520,836 |
Increase/(Decrease) in cash and cash equivalents | (109,835) | (275,252) |
Cash and cash equivalents at beginning of year | 697,424 | 917,822 |
Cash and cash equivalents at end of year | 587,589 | 642,570 |
Cash paid during period for: | ||
Interest | 27,970 | 28,732 |
Federal income taxes | $ 26,125 | $ 11,547 |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | FirstMerit Corporation and subsidiaries is a diversified financial services company headquartered in Akron, Ohio with 367 banking offices in the Ohio, Michigan, Wisconsin, Illinois, and Pennsylvania areas. The Corporation provides a complete range of banking and other financial services to consumers and businesses through its core operations. 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 Companyās other subsidiaries include Citizens Savings Corporation of Stark County, FirstMerit Capital Trust I, and FirstMerit Risk Management, 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, 2014 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 yearās 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, 2015 and 2014 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 Corporationās Annual Report on Form 10-K for the year ended December 31, 2014 (the ā 2014 Form 10-Kā). There have been no significant changes in the current quarter to the Corporationās accounting policies as disclosed in the 2014 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 2015-10, Technical Corrections and Improvemen ts. The amendments in this update cover a wide range of Topics in the Codification. The amendments in this update represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the accounting guidance and are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, some of these amendments will make the accounting guidance easier to understand and eliminate inconsistencies. The SEC Update is effective immediately. The adoption of this accounting guidance did not have a material effect on the Corporationās financial position or results of operations. FASB ASU 2015-8, Business Combinations (Topic 805): Pushdown AccountingāAmendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 (SEC Update). The amendments in the SEC Update conform the accounting guidance with the various SEC paragraphs pursuance to the SEC Staff Accounting Bulletin No. 115. The SEC Update is effective immediately. The adoption of this accounting guidance did not have a material effect on the Corporationās financial position or results of operations. FASB ASU 2015-3, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in ASU 2015-03, require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from that debt liability, consistent with the presentation of a debt discount. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. For public business entities, these amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, and early adoption is permitted. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. As of June 30, 2015, the Corporation adopted this accounting standard by classifying $3.7 million of deferred debt issuance costs as a deduction to long term debt. Management concluded that the classification of debt issuance costs capitalized in prior periods was immaterial as a component of other assets, total assets, total long term debt, and total liabilities. As such, the Corporation's comparative periods have not been recasted. The amount of unamortized debt issuance costs not recasted are $3.8 million as of March 31, 2015, $3.7 million as of December 31, 2014, $1.9 million as of September 31, 2014, and $1.8 million as of June 30, 2014. FASB ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure āa consensus of the FASB Emerging Issues Task Force. The objective of this update is to reduce diversity in practice by addressing the classification of certain foreclosed mortgage loans held by creditors that are either fully or partially guaranteed under government programs. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: 1) the loan has a government guarantee that is not separable from the loan before foreclosure; 2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and 3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The ASU is effective for interim and annual periods beginning after December 15, 2014. The amendments can be adopted using either a prospective transition method or a modified retrospective transition method. The adoption of this accounting guidance did not have a material effect on the Corporationās financial position or results of operations. 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), eliminate accounting guidance on linking repurchase financing transactions, and expand 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 did not have a material effect on the Corporationās financial position or results of operations. 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 require 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 did not have a material effect on the Corporationās 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 did not have a material effect on the Corporationās financial position or results of operations. Recently Issued Accounting Standards FASB ASU 2015- 5, IntangiblesāGoodwill and OtherāInternal-Use Software (Subtopic 350-40): Customerās Accounting for Fees Paid in a Cloud Computing Arrangement. The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customerās accounting for service contracts. In addition, the guidance in this Update supersedes paragraph 350-40-25-16. Consequently, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets. The amendments are effective for public business entities for annual and interim periods within those annual periods, beginning after December 15, 2015. An entity can elect to adopt the amendments either (1) prospectively to all arrangements entered into or materially modified after the effective date or (2) retrospectively. For prospective transition, the only disclosure requirements at transition are the nature of and reason for the change in accounting principle, the transition method, and a qualitative description of the financial statement line items affected by the change. For retrospective transition, the disclosure requirements at transition include the requirements for prospective transition and quantitative information about the effects of the accounting change. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements. FASB ASU 2015-2, Amendments to the Consolidation Analysis . The amendments in ASU 2015-02 affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. These amendments modify the evaluation of whether limited partnerships and other similar entities are variable interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis that are involved with variable interest entities; and provide a scope exception from consolidation for entities that are required to comply or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the amendments using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A reporting entity also may apply the amendments retrospectively. The adoption of this guidance is not expected to have a material effect on the Corporations financial position or results of operations. FASB ASU 2014ā12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period ā 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 entityās 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 adoption of this guidance is not expected to have a material effect on the Corporations 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. On July 9, 2015, the FASB decided to delay, by one year, the effective dates, permitting public entities to apply this guidance to annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 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, 2015 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 5,004 $ 1 $ ā $ 5,005 U.S. government agency debentures 2,500 10 ā 2,510 U.S. states and political subdivisions 203,449 5,191 (1,023 ) 207,617 Residential mortgage-backed securities: U.S. government agencies 947,347 18,068 (4,563 ) 960,852 Commercial mortgage-backed securities: U.S. government agencies 171,842 643 (2,147 ) 170,338 Residential collateralized mortgage-backed securities: U.S. government agencies 1,968,918 4,779 (24,308 ) 1,949,389 Non-agency 5 ā ā 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 227,889 1,254 (705 ) 228,438 Asset-backed securities: Collateralized loan obligations 259,743 801 (2,463 ) 258,081 Corporate debt securities 61,681 ā (8,231 ) 53,450 Total debt securities 3,848,378 30,747 (43,440 ) 3,835,685 Equity securities Marketable equity securities 2,824 ā ā 2,824 Non-marketable equity securities ā ā ā ā Total equity securities 2,824 ā ā 2,824 Total securities available-for-sale $ 3,851,202 $ 30,747 $ (43,440 ) $ 3,838,509 Securities held-to-maturity Debt securities U.S. government agency debentures $ 25,000 $ ā $ (323 ) $ 24,677 U.S. states and political subdivisions 529,441 8,104 (1,942 ) 535,603 Residential mortgage-backed securities: U.S. government agencies 555,273 6,919 (2,940 ) 559,252 Commercial mortgage-backed securities: U.S. government agencies 57,462 412 (219 ) 57,655 Residential collateralized mortgage-backed securities: U.S. government agencies 1,267,321 445 (35,025 ) 1,232,741 Commercial collateralized mortgage-backed securities: U.S. government agencies 263,741 1,004 (4,523 ) 260,222 Corporate debt securities 89,275 695 ā 89,970 Total securities held-to-maturity $ 2,787,513 $ 17,579 $ (44,972 ) $ 2,760,120 December 31, 2014 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. government agency debentures $ 2,500 $ ā $ (18 ) $ 2,482 U.S. states and political subdivisions 221,052 6,756 (466 ) 227,342 Residential mortgage-backed securities: U.S. government agencies 951,839 22,377 (3,218 ) 970,998 Commercial mortgage-backed securities: U.S. government agencies 104,176 598 (1,371 ) 103,403 Residential collateralized mortgage-backed securities: U.S. government agencies 1,698,015 4,777 (26,225 ) 1,676,567 Non-agency 7 ā ā 7 Commercial collateralized mortgage-backed securities: U.S. government agencies 222,876 863 (1,405 ) 222,334 Asset-backed securities: Collateralized loan obligations 297,446 11 (9,613 ) 287,844 Corporate debt securities 61,652 ā (10,315 ) 51,337 Total debt securities 3,559,563 35,382 (52,631 ) 3,542,314 Equity securities Marketable equity securities 2,974 ā ā 2,974 Total equity securities 2,974 ā ā 2,974 Total securities available-for-sale $ 3,562,537 $ 35,382 $ (52,631 ) $ 3,545,288 Securities held-to-maturity Debt securities U.S. treasury notes & bonds $ 5,000 $ ā $ ā $ 5,000 U.S. government agency debentures 25,000 ā (537 ) 24,463 U.S. states and political subdivisions 517,824 12,645 (191 ) 530,278 Residential mortgage-backed securities: U.S. government agencies 580,727 7,495 (3,045 ) 585,177 Commercial mortgage-backed securities: U.S. government agencies 58,143 281 (329 ) 58,095 Residential collateralized mortgage-backed securities: U.S. government agencies 1,368,534 718 (38,875 ) 1,330,377 Commercial collateralized mortgage-backed securities: U.S. government agencies 257,642 557 (6,768 ) 251,431 Corporate debt securities 90,739 412 (52 ) 91,099 Total securities held-to-maturity $ 2,903,609 $ 22,108 $ (49,797 ) $ 2,875,920 June 30, 2014 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair 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 ā ā 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 ā (8,134 ) 53,490 Total debt securities 3,487,784 40,816 (56,396 ) 3,472,204 Equity Securities Marketable equity securities 2,935 ā ā 2,935 Non-marketable equity securities 3,281 ā ā 3,281 Total equity securities 6,216 ā ā 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. treasury notes & bonds $ 5,000 $ 5 $ ā $ 5,005 U.S. government agency debentures 25,000 ā (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 ā 92,958 Total securities held-to-maturity $ 3,052,118 $ 18,601 $ (68,853 ) $ 3,001,866 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-seven U.S. states in which it holds investments. (Dollars in thousands) June 30, 2015 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Ohio 127 $ 964 $ 121,716 $ 122,474 Michigan 153 1,018 152,499 155,712 Illinois 60 1,784 105,581 107,033 Wisconsin 70 585 39,774 40,950 Texas 67 759 50,370 50,877 Pennsylvania 46 1,014 46,547 46,666 Minnesota 34 692 23,267 23,540 Washington 30 939 27,783 28,169 New Jersey 34 720 23,916 24,472 Missouri 15 1,084 15,981 16,265 New York 18 633 11,187 11,392 Other 119 639 75,670 76,040 Total general obligation bonds 773 $ 910 $ 694,291 $ 703,590 (Dollars in thousands) December 31, 2014 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Ohio 137 $ 979 $ 130,741 $ 134,127 Michigan 169 842 138,325 142,292 Illinois 66 1,897 121,560 125,169 Wisconsin 77 841 62,543 64,776 Texas 64 801 50,307 51,293 Pennsylvania 45 1,000 44,443 45,006 Minnesota 42 674 27,740 28,326 Washington 30 952 27,987 28,558 New Jersey 37 746 26,755 27,612 Missouri 19 1,011 18,764 19,207 New York 19 628 11,659 11,929 Other 120 650 76,849 78,020 Total general obligation bonds 825 $ 917 $ 737,673 $ 756,315 (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 Illinois 74 1,578 113,501 116,741 Texas 65 794 50,845 51,632 Pennsylvania 49 972 47,870 47,623 Wisconsin 87 864 72,616 75,155 Minnesota 42 678 27,864 28,468 New Jersey 37 751 26,815 27,805 Michigan 174 862 146,565 150,052 Washington 30 955 28,191 28,660 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 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, 2015 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 constitutes the majority of other investments on the Consolidated Balance Sheets. (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 FRB stock $ 55,853 $ 55,681 $ 55,435 FHLB stock 91,713 92,547 92,547 Other 401 426 451 Total other investments $ 147,967 $ 148,654 $ 148,433 FRB and FHLB stock is 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 , $2.8 billion , and $3.2 billion at June 30, 2015 , December 31, 2014 , and June 30, 2014 , 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) 2015 2014 2015 2014 Realized gains $ 672 $ 80 $ 1,064 $ 300 Realized losses (105 ) ā (143 ) (164 ) Net securities (losses)/gains $ 567 $ 80 $ 921 $ 136 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, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. states and political subdivisions $ 32,237 $ (587 ) 52 $ 5,642 $ (436 ) 9 $ 37,879 $ (1,023 ) Residential mortgage-backed securities: U.S. government agencies 196,219 (2,087 ) 15 103,498 (2,476 ) 8 299,717 (4,563 ) Commercial mortgage-backed securities: U.S. government agencies 96,573 (1,457 ) 14 17,335 (690 ) 2 113,908 (2,147 ) Residential collateralized mortgage-backed securities: U.S. government agencies 596,646 (4,398 ) 42 706,376 (19,910 ) 53 1,303,022 (24,308 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 46,771 (71 ) 5 61,120 (634 ) 7 107,891 (705 ) Asset-backed securities: Collateralized loan obligations 84,565 (1,204 ) 10 86,082 (1,259 ) 11 170,647 (2,463 ) Corporate debt securities 4,225 (765 ) 1 49,225 (7,466 ) 7 53,450 (8,231 ) Total securities available-for-sale $ 1,057,236 $ (10,569 ) 139 $ 1,029,278 $ (32,871 ) 97 $ 2,086,514 $ (43,440 ) Securities held-to-maturity Debt securities U.S. government agency debentures $ ā $ ā ā $ 24,677 $ (323 ) 1 $ 24,677 $ (323 ) U.S. states and political subdivisions 98,867 (1,872 ) 112 4,430 (70 ) 6 103,297 (1,942 ) Residential mortgage-backed securities: U.S. government agencies 83,112 (483 ) 5 105,289 (2,457 ) 6 188,401 (2,940 ) Commercial mortgage-backed securities: U.S. government agencies 7,263 (41 ) 1 9,430 (178 ) 1 16,693 (219 ) Residential collateralized mortgage-backed securities: U.S. government agencies 111,360 (835 ) 8 1,042,351 (34,190 ) 56 1,153,711 (35,025 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 5,025 (2 ) 1 142,937 (4,521 ) 13 147,962 (4,523 ) Total securities held-to-maturity $ 305,627 $ (3,233 ) 127 $ 1,329,114 $ (41,739 ) 83 $ 1,634,741 $ (44,972 ) December 31, 2014 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. government agency debentures $ 2,482 $ (18 ) 1 $ ā $ ā ā $ 2,482 $ (18 ) U.S. states and political subdivisions 5,637 (11 ) 11 22,528 (455 ) 36 28,165 (466 ) Residential mortgage-backed securities: U.S. government agencies 50,126 (182 ) 5 199,773 (3,036 ) 14 249,899 (3,218 ) Commercial mortgage-backed securities: U.S. government agencies 12,284 (55 ) 2 45,485 (1,316 ) 6 57,769 (1,371 ) Residential collateralized mortgage-backed securities: U.S. government agencies 243,970 (906 ) 15 905,478 (25,319 ) 64 1,149,448 (26,225 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 31,375 (229 ) 4 67,169 (1,176 ) 7 98,544 (1,405 ) Asset-backed securities: Collateralized loan obligations 79,042 (1,406 ) 15 193,687 (8,207 ) 27 272,729 (9,613 ) Corporate debt securities ā ā ā 51,338 (10,315 ) 8 51,338 (10,315 ) Total securities available-for-sale $ 424,916 $ (2,807 ) 53 $ 1,485,458 $ (49,824 ) 162 $ 1,910,374 $ (52,631 ) Securities held-to-maturity Debt securities U.S. government agency debentures $ ā $ ā ā $ 24,463 $ (537 ) 1 $ 24,463 $ (537 ) U.S. states and political subdivisions 9,085 (17 ) 9 18,371 (174 ) 21 27,456 (191 ) Residential mortgage-backed securities: U.S. government agencies ā ā ā 185,361 (3,045 ) 10 185,361 (3,045 ) Commercial mortgage-backed securities: U.S. government agencies 9,950 (4 ) 2 16,735 (325 ) 2 26,685 (329 ) Residential collateralized mortgage-backed securities: U.S. government agencies 28,333 (149 ) 3 1,161,297 (38,726 ) 58 1,189,630 (38,875 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 41,474 (55 ) 3 171,570 (6,713 ) 16 213,044 (6,768 ) Corporate debt securities 36,933 (52 ) 13 ā ā ā 36,933 (52 ) Total securities held-to-maturity $ 125,775 $ (277 ) 30 $ 1,577,797 $ (49,520 ) 108 $ 1,703,572 $ (49,797 ) June 30, 2014 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses 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 ) 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 ā ā ā 53,490 (8,134 ) 8 53,490 (8,134 ) Total securities available-for-sale $ 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 $ ā $ ā ā $ 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 ā ā ā 206,911 (4,933 ) 11 206,911 (4,933 ) Commercial mortgage-backed securities: U.S. government agencies ā ā ā 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 ā ā ā 183,957 (7,252 ) 17 183,957 (7,252 ) Corporate debt securities ā ā ā ā ā ā ā ā Total securities held-to-maturity $ 187,242 $ (1,434 ) 64 $ 1,747,578 $ (67,419 ) 182 $ 1,934,820 $ (68,853 ) 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. 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 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 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 $40.1 million at June 30, 2015 , compared to a net unrealized loss position of $44.9 million at December 31, 2014 and a net unrealized loss position of $65.8 million at June 30, 2014 . Gross unrealized losses were $88.4 million as of June 30, 2015 , compared to $102.4 million at December 31, 2014 , and $125.2 million at June 30, 2014 . As of June 30, 2015 , gross unrealized losses are concentrated within agency MBS, CLOs, and corporate debt securities. While the tightening of CLO spreads over the course of the second quarter have benefited the CLOs' valuations, the move to higher interest rates and a steeper yield curve have resulted in a net unrealized loss position for the portfolio as a whole. Corporate debt securities are composed of eight , single issuer, trust preferred securities with stated maturities. Such investments are only 1% of the fair value of the available-for-sale 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, CLOs, 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, 2015 and has recognized the total amount of the impairment in OCI, net of tax. The Corporation also holds $258.1 million of CLOs with a gross unrealized loss position of $2.5 million as of June 30, 2015 . The new Volcker Rule, 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 covered funds prohibited by the Volcker Rule regulations and, therefore, expects to be able to hold these investments until their stated maturities. 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, 2015 . 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. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Financing Receivables | Loans Loans outstanding as of June 30, 2015 , December 31, 2014 , and June 30, 2014 , net of unearned income, consisted of the following: (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 Originated loans: Commercial $ 8,196,630 $ 7,830,085 $ 7,365,499 Residential mortgage 653,143 625,283 580,166 Installment 2,720,059 2,393,451 2,051,587 Home equity 1,180,802 1,110,336 998,179 Credit cards 168,576 164,478 151,967 Leases 436,702 370,179 319,795 Total originated loans 13,355,912 12,493,812 11,467,193 Allowance for originated loan losses (101,682 ) (95,696 ) (91,950 ) Net originated loans $ 13,254,230 $ 12,398,116 $ 11,375,243 Acquired loans: Commercial $ 877,598 $ 1,086,899 $ 1,457,903 Residential mortgage 358,559 394,484 425,584 Installment 659,348 764,168 872,034 Home equity 200,179 233,629 268,266 Total acquired loans 2,095,684 2,479,180 3,023,787 Allowance for acquired loan losses (4,950 ) (7,457 ) (4,977 ) Net acquired loans $ 2,090,734 $ 2,471,723 $ 3,018,810 FDIC acquired loans: Commercial $ 145,821 $ 211,607 $ 292,782 Residential mortgage 38,029 41,276 46,705 Installment 2,299 4,874 5,364 Home equity 55,545 73,365 89,815 Loss share receivable 11,820 22,033 43,981 Total FDIC acquired loans 253,514 353,155 478,647 Allowance for FDIC acquired loan losses (41,627 ) (40,496 ) (45,109 ) Net FDIC acquired loans $ 211,887 $ 312,659 $ 433,538 Total loans: Commercial $ 9,220,049 $ 9,128,591 $ 9,116,184 Residential mortgage 1,049,731 1,061,043 1,052,455 Installment 3,381,706 3,162,493 2,928,985 Home equity 1,436,526 1,417,330 1,356,260 Credit cards 168,576 164,478 151,967 Leases 436,702 370,179 319,795 Loss share receivable 11,820 22,033 43,981 Total loans 15,705,110 15,326,147 14,969,627 Total allowance for loan losses (148,259 ) (143,649 ) (142,036 ) Total Net loans $ 15,556,851 $ 15,182,498 $ 14,827,591 The following describes the distinction between originated, acquired and FDIC acquired 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 $5.4 million , $5.4 million , and $6.1 million at June 30, 2015 , December 31, 2014 , and June 30, 2014 , respectively. Acquired Loans Acquired loans are those purchased in the Citizens acquisition. These loans were recorded at estimated fair value at the Acquisition Date with no carryover of the related ALL. The acquired loans were segregated as of the Acquisition Date between those considered to be performing (acquired nonimpaired 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, 2015 and 2014 were $504.7 million and $714.2 million , 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, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, Acquired Impaired Loans 2015 2014 2015 2014 (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 $ 118,756 $ 388,313 $ 142,284 $ 557,199 $ 119,450 $ 423,209 $ 136,646 $ 601,000 Accretion (10,285 ) 10,285 (12,746 ) 12,746 (21,503 ) 21,503 (24,487 ) 24,487 Net reclassifications from nonaccretable to accretable 8,217 ā 10,499 ā 21,212 ā 30,013 ā Payments received, net ā (42,434 ) ā (50,695 ) ā (88,548 ) ā (106,237 ) Disposals (4,657 ) ā (2,595 ) ā (7,128 ) ā (4,730 ) ā Balance at end of period $ 112,031 $ 356,164 $ 137,442 $ 519,250 $ 112,031 $ 356,164 $ 137,442 $ 519,250 Cash flows expected to be collected on acquired impaired loans are estimated quarterly by incorporating several key assumptions similar to the initial estimate of fair value. These key assumptions include probability of default, and the amount of actual prepayments after the acquisition date. Prepayments affect the estimated life of the loans and could change the amount of interest income, and possibly principal expected to be collected. In reforecasting future estimated cash flows, credit loss expectations are adjusted as necessary. Improved cash flow expectations for loans or pools that were impaired in prior periods are recorded first as a reversal of previously recorded impairment and then as an increase in prospective yield when all previously recorded impairment has been recaptured. Decreases in expected cash flows are recognized as an impairment through a provision for loan loss and an increase to the allowance for acquired impaired loans. During the quarter ended June 30, 2015 , there was an overall improvement in cash flow expectations, which resulted in the reclassification of $8.2 million from the nonaccretable difference to accretable yield. This reclassification results in prospective yield adjustments on these loan pools. FDIC Acquired Loans and Related Loss Share Receivable FDIC acquired loans include loans purchased in the 2010 FDIC-assisted acquisitions of George Washington and Midwest. George Washington and Midwest non-single family loss share agreements with the FDIC expired at March 31, 2015 and June 30, 2015 , respectively, resulting in $2.6 million and $143.2 million of loans no longer being covered as of June 30, 2015 . As of June 30, 2015 , $13.1 million and $82.8 million of George Washington and Midwest loans, respectively, remained covered by single family loss share agreements. Changes in the loss share receivable for the three and six months ended June 30, 2015 and 2014 were as follows: Loss Share Receivable Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of period $ 20,005 $ 54,748 $ 22,033 $ 61,827 Amortization (1,185 ) (4,185 ) (3,372 ) (10,048 ) Increase/(decrease) due to impairment (recapture) on FDIC acquired loans 1,819 (3,897 ) 6,046 927 FDIC reimbursement (8,713 ) (1,237 ) (12,726 ) (6,324 ) FDIC acquired loans paid in full (106 ) (1,448 ) (161 ) (2,401 ) Balance at end of the period (1) $ 11,820 $ 43,981 $ 11,820 $ 43,981 (1) As of June 30, 2015 , the loss share receivable of $11.8 million was related to single family covered loans. Total outstanding FDIC acquired impaired loans were $351.1 million and $637.6 million as of June 30, 2015 and 2014 , 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 FDIC acquired impaired loans were as follows for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, FDIC Acquired Impaired Loans 2015 2014 2015 2014 (In thousands) Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Balance at beginning of period $ 29,867 $ 199,225 $ 63,003 $ 364,488 $ 37,511 $ 232,452 $ 67,282 $ 403,692 Accretion (4,100 ) 4,100 (12,139 ) 12,139 (9,667 ) 9,667 (24,755 ) 24,755 Net reclassifications between non-accretable and accretable 2,136 ā 5,549 ā 2,080 ā 11,606 ā Payments received, net ā (45,517 ) ā (60,146 ) ā (84,311 ) ā (111,966 ) (Disposals)/Additions (1,753 ) ā (2,758 ) ā (3,774 ) ā (478 ) ā Balance at end of period $ 26,150 $ 157,808 $ 53,655 $ 316,481 $ 26,150 $ 157,808 $ 53,655 $ 316,481 The cash flows expected to be collected on covered impaired loans are estimated quarterly in a similar manner as described above for acquired impaired loans. During the quarter ended June 30, 2015 , the re-estimation process resulted in a net reclassification of $2.1 million from accretable yield to nonaccretable difference. This reclassification results in prospective yield adjustments on the loan pools. 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 FDIC acquired 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, 2015 (In thousands) ā„ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 5,837 $ 1,949 $ 3,780 $ 11,566 $ 5,459,797 $ 5,471,363 $ ā $ 29,241 CRE 3,758 119 2,780 6,657 2,131,715 2,138,372 418 7,486 Construction 483 ā ā 483 586,412 586,895 ā ā Leases 17,862 ā ā 17,862 418,840 436,702 ā 1,162 Consumer Installment 11,526 3,010 4,191 18,727 2,701,332 2,720,059 3,386 2,903 Home Equity Lines 2,268 720 1,032 4,020 1,176,782 1,180,802 249 1,591 Credit Cards 679 338 558 1,575 167,001 168,576 337 459 Residential Mortgages 9,792 1,935 7,595 19,322 633,821 653,143 3,619 12,300 Total $ 52,205 $ 8,071 $ 19,936 $ 80,212 $ 13,275,700 $ 13,355,912 $ 8,009 $ 55,142 Acquired Loans ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 33 $ 99 $ 3,279 $ 3,411 $ 334,012 $ 337,423 $ ā $ 661 CRE 3,353 3,115 17,473 23,941 510,004 533,945 ā 5,545 Construction ā ā 694 694 5,536 6,230 ā ā Consumer Installment 3,999 1,029 1,083 6,111 653,237 659,348 475 671 Home Equity Lines 2,349 785 1,353 4,487 195,692 200,179 762 246 Residential Mortgages 186 1,173 4,902 6,261 352,298 358,559 411 929 Total $ 9,920 $ 6,201 $ 28,784 $ 44,905 $ 2,050,779 $ 2,095,684 $ 1,648 $ 8,052 FDIC Acquired Loans (2) ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ ā $ ā $ 2,916 $ 2,916 $ 35,221 $ 38,137 n/a n/a CRE 664 1,959 32,076 34,699 67,110 101,809 n/a n/a Construction ā ā 3,701 3,701 2,174 5,875 n/a n/a Consumer Installment ā ā ā ā 2,299 2,299 n/a n/a Home Equity Lines 1,256 246 3,454 4,956 50,589 55,545 n/a n/a Residential Mortgages 5,391 319 2,961 8,671 29,358 38,029 n/a n/a Total $ 7,311 $ 2,524 $ 45,108 $ 54,943 $ 186,751 $ 241,694 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.7 million of loans guaranteed by the U.S. government as of June 30, 2015 . (2) Excludes loss share receivable of $11.8 million as of June 30, 2015 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at June 30, 2015 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 FDIC Acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of December 31, 2014 (In thousands) ā„ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 2,212 $ 1,162 $ 2,670 $ 6,044 $ 5,169,157 $ 5,175,201 $ 1,547 $ 6,114 CRE 2,155 1,460 8,864 12,479 2,104,639 2,117,118 1,696 11,033 Construction ā ā ā ā 537,766 537,766 ā ā Leases ā ā ā ā 370,179 370,179 ā ā Consumer Installment 14,621 3,647 4,716 22,984 2,370,467 2,393,451 3,695 3,268 Home Equity Lines 1,357 587 1,206 3,150 1,107,186 1,110,336 569 1,654 Credit Cards 668 516 860 2,044 162,434 164,478 407 596 Residential Mortgages 12,086 2,744 8,013 22,843 602,440 625,283 4,242 11,952 Total $ 33,099 $ 10,116 $ 26,329 $ 69,544 $ 12,424,268 $ 12,493,812 $ 12,156 $ 34,617 Acquired Loans ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 92 $ 234 $ 4,791 $ 5,117 $ 444,137 $ 449,254 $ ā $ 787 CRE 3,479 3,398 23,509 30,386 600,288 630,674 44 4,171 Construction ā ā 685 685 6,286 6,971 ā ā Consumer Installment 6,204 2,029 1,861 10,094 754,074 764,168 615 1,218 Home Equity Lines 2,819 2,123 2,333 7,275 226,354 233,629 1,519 631 Residential Mortgages 13,062 1,648 7,089 21,799 372,685 394,484 1,293 1,249 Total $ 25,656 $ 9,432 $ 40,268 $ 75,356 $ 2,403,824 $ 2,479,180 $ 3,471 $ 8,056 FDIC Acquired Loans (2) ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 58 $ ā $ 6,041 $ 6,099 $ 42,738 $ 48,837 n/a n/a CRE 234 1,517 47,233 48,984 104,524 153,508 n/a n/a Construction ā ā 6,064 6,064 3,198 9,262 n/a n/a Consumer Installment 23 ā 34 57 4,817 4,874 n/a n/a Home Equity Lines 1,395 870 3,859 6,124 67,241 73,365 n/a n/a Residential Mortgages 6,205 91 3,572 9,868 31,408 41,276 n/a n/a Total $ 7,915 $ 2,478 $ 66,803 $ 77,196 $ 253,926 $ 331,122 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.4 million of loans guaranteed by the U.S. government as of December 31, 2014 . (2) Excludes loss share receivable of $22.0 million as of December 31, 2014 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at December 31, 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 FDIC Acquired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of June 30, 2014 (In thousands) ā„ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (1) 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 ā ā ā ā 409,866 409,866 ā 53 Leases 103 ā ā 103 319,692 319,795 ā ā 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 ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) 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 ā 1,736 Construction ā ā 666 666 13,233 13,899 ā ā 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 FDIC Acquired Loans (2) ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 2,929 $ ā $ 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 ā ā 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 (1) 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 . (2) Excludes loss share receivable of $44.0 million as of June 30, 2014 . (3) Acquired and FDIC acquired 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 FDIC Acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. Individual commercial loans are assigned credit risk grades based on an internal assessment of conditions that affect a borrowerās ability to meet its contractual obligation under the loan agreement. The assessment process includes reviewing a borrowerās 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 about a borrowerās 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: āPassā 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. āSpecial Mentionā Loans (Grade 5) are commercial loans that have identified potential weaknesses that deserve Managementās close attention. If left uncorrected, these potential weaknesses may result in noticeable deterioration of the repayment prospects for the asset or in the institutionās credit position. āSubstandardā 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. āDoubtfulā 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. The following tables provide a summary of commercial loans by portfolio type and the Corporation's internal credit quality rating: As of June 30, 2015 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 65,856 $ 807 $ ā $ 14,688 $ 81,351 Grade 2 206,384 1,166 ā 29,564 237,114 Grade 3 1,417,295 367,457 55,889 65,664 1,906,305 Grade 4 3,567,387 1,715,998 529,517 321,268 6,134,170 Grade 5 98,137 25,466 360 2,956 126,919 Grade 6 112,661 27,478 1,129 2,562 143,830 Grade 7 3,643 ā ā ā 3,643 Total $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 8,633,332 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 1,061 $ ā $ ā $ ā $ 1,061 Grade 2 ā ā ā ā ā Grade 3 17,338 27,190 ā ā 44,528 Grade 4 289,027 453,830 5,536 ā 748,393 Grade 5 13,283 16,815 ā ā 30,098 Grade 6 16,714 36,110 694 ā 53,518 Grade 7 ā ā ā ā ā Total $ 337,423 $ 533,945 $ 6,230 $ ā $ 877,598 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ ā $ ā $ ā $ ā $ ā Grade 2 1,129 ā ā ā 1,129 Grade 3 ā ā ā ā ā Grade 4 33,992 65,906 817 ā 100,715 Grade 5 ā 625 ā ā 625 Grade 6 3,016 35,278 5,058 ā 43,352 Grade 7 ā ā ā ā ā Total $ 38,137 $ 101,809 $ 5,875 $ ā $ 145,821 As of December 31, 2014 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 52,676 $ 683 $ 678 $ 4,451 $ 58,488 Grade 2 186,278 3,454 ā 14,959 204,691 Grade 3 1,340,100 294,281 46,074 71,908 1,752,363 Grade 4 3,413,446 1,745,470 490,757 277,277 5,926,950 Grade 5 139,083 29,990 257 1,389 170,719 Grade 6 43,618 43,240 ā 195 87,053 Grade 7 ā ā ā ā ā Total $ 5,175,201 $ 2,117,118 $ 537,766 $ 370,179 $ 8,200,264 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 1,076 $ ā $ ā $ ā $ 1,076 Grade 2 ā ā ā ā ā Grade 3 20,891 24,867 ā ā 45,758 Grade 4 376,129 532,447 6,286 ā 914,862 Grade 5 23,268 28,382 685 ā 52,335 Grade 6 27,890 44,978 ā ā 72,868 Grade 7 ā ā ā ā ā Total $ 449,254 $ 630,674 $ 6,971 $ ā $ 1,086,899 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ ā $ ā $ ā $ ā $ ā Grade 2 1,347 ā ā ā 1,347 Grade 3 ā ā ā ā ā Grade 4 36,406 86,779 823 ā 124,008 Grade 5 167 3,401 ā ā 3,568 Grade 6 10,917 63,328 8,248 ā 82,493 Grade 7 ā ā 191 ā 191 Total $ 48,837 $ 153,508 $ 9,262 $ ā $ 211,607 As of June 30, 2014 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 33,855 $ ā $ ā $ 9,408 $ 43,263 Grade 2 134,682 3,610 ā 10,971 149,263 Grade 3 1,100,807 290,652 36,954 55,648 1,484,061 Grade 4 3,439,210 1,725,808 371,488 236,324 5,772,830 Grade 5 100,776 29,382 ā 7,092 137,250 Grade 6 48,285 48,566 1,424 352 98,627 Grade 7 ā ā ā ā ā Total $ 4,857,615 $ 2,098,018 $ 409,866 $ 319,795 $ 7,685,294 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 700 $ ā $ ā $ ā $ 700 Grade 2 ā ā ā ā ā Grade 3 35,608 26,652 ā ā 62,260 Grade 4 553,293 651,011 13,899 ā 1,218,203 Grade 5 41,213 50,267 ā ā 91,480 Grade 6 29,447 55,813 ā ā 85,260 Grade 7 ā ā ā ā ā Total $ 660,261 $ 783,743 $ 13,899 $ ā $ 1,457,903 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ ā $ ā $ ā $ ā $ ā Grade 2 1,015 ā ā ā 1,015 Grade 3 ā ā ā ā ā Grade 4 38,892 104,455 707 ā 144,054 Grade 5 999 3,984 ā ā 4,983 Grade 6 15,517 108,637 18,045 ā 142,199 Grade 7 ā 180 349 ā 529 Total $ 56,423 $ 217,256 $ 19,101 $ ā $ 292,780 |
Allowance for Loan Losses Allow
Allowance for Loan Losses Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [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 FDIC acquired 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. The following tables show activity in the originated ALL, by portfolio segment for the three and six months ended June 30, 2015 and 2014 , as well as the corresponding recorded investment in originated loans at the end of the period: As of June 30, 2015 (In thousands) 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 $ 39,838 $ 8,813 $ 1,752 $ 629 $ 13,358 $ 19,433 $ 7,801 $ 5,921 $ 97,545 Charge-offs (3,247 ) (408 ) ā ā (5,090 ) (971 ) (1,209 ) (373 ) (11,298 ) Recoveries 453 1 39 3 2,844 839 358 89 4,626 Provision for loan losses 5,832 94 (251 ) (13 ) 3,798 738 868 (257 ) 10,809 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Six Months Ended Allowance for originated loan losses, beginning balance $ 37,375 $ 10,492 $ 2,202 $ 674 $ 12,918 $ 19,324 $ 7,966 $ 4,745 $ 95,696 Charge-offs (3,757 ) (623 ) ā ā (10,145 ) (1,882 ) (2,661 ) (797 ) (19,865 ) Recoveries 794 1 40 7 5,864 1,452 724 124 9,006 Provision for loan losses 8,464 (1,370 ) (702 ) (62 ) 6,273 1,145 1,789 1,308 16,845 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 9,117 $ 151 $ ā $ ā $ 1,001 $ 217 $ 250 $ 890 $ 11,626 Collectively evaluated for impairment 33,759 8,349 1,540 619 13,909 19,822 7,568 4,490 90,056 Total ending allowance for originated loan losses balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Originated loans: Originated loans individually evaluated for impairment $ 45,969 $ 12,072 $ ā $ 1,162 $ 31,927 $ 7,421 $ 787 $ 24,697 $ 124,035 Originated loans collectively evaluated for impairment 5,425,394 2,126,300 586,895 435,540 2,688,132 1,173,381 167,789 628,446 13,231,877 Total ending originated loan balance $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 2,720,059 $ 1,180,802 $ 168,576 $ 653,143 $ 13,355,912 As of June 30, 2014 (In thousands) 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 ) ā ā (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 ) ā ā (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 $ ā $ 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 $ ā $ 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 The following table presents the originated ALL and the recorded investment as of December 31, 2014 : As of December 31, 2014 (In thousands) 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 $ 72 $ 2,914 $ ā $ ā $ 1,178 $ 207 $ 296 $ 1,283 $ 5,950 Collectively evaluated for impairment 37,303 7,578 2,202 674 11,740 19,117 7,670 3,462 89,746 Total ending allowance for originated loan losses balance $ 37,375 $ 10,492 $ 2,202 $ 674 $ 12,918 $ 19,324 $ 7,966 $ 4,745 $ 95,696 Originated loans: Loans individually evaluated for impairment $ 11,759 $ 23,300 $ ā $ ā $ 24,905 $ 7,379 $ 854 $ 25,251 $ 93,448 Loans collectively evaluated for impairment 5,163,442 2,093,818 537,766 370,179 2,368,546 1,102,957 163,624 600,032 12,400,364 Total ending originated loan balance $ 5,175,201 $ 2,117,118 $ 537,766 $ 370,179 $ 2,393,451 $ 1,110,336 $ 164,478 $ 625,283 $ 12,493,812 Allowance for Acquired Loan Losses 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. The allowance determined for each acquired nonimpaired loan is compared to the remaining fair value adjustment for that loan. If the computed allowance is greater, the excess is added to the allowance through a provision for loan losses. If the computed allowance is less, no additional allowance is recognized. As of June 30, 2015 , the computed ALL was less than the remaining fair value discount; therefore, no ALL for acquired nonimpaired loans was recorded. 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, 2015 , provision for loan losses, equal to net charge-offs, of $1.6 million and $3.8 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 by an increase in the 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 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 3 ( 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, 2015 and 2014 : Allowance for Acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of the period $ 7,493 $ 2,974 $ 7,457 $ 741 Charge-offs ā ā ā ā Recoveries ā ā ā ā Provision/(recapture) for loan losses (2,543 ) 2,003 (2,507 ) 4,236 Balance at end of the period $ 4,950 $ 4,977 $ 4,950 $ 4,977 Allowance for FDIC Acquired Loan Losses The ALL on FDIC acquired nonimpaired 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. As of June 30, 2015 , the computed ALL was less than the remaining fair value discount; therefore, no ALL for FDIC acquired nonimpaired loans was recorded . The following table presents activity in the allowance for FDIC acquired impaired loan losses for the three and six months ended June 30, 2015 and 2014 : Allowance for FDIC acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of the period $ 41,514 $ 49,970 $ 40,496 $ 44,027 Net provision/(recapture) of loan losses before benefit attributable to FDIC loss share agreements 928 (451 ) 5,153 7,428 Net (benefit)/recapture attributable to FDIC loss share agreements (1,819 ) 3,897 (6,046 ) (927 ) Net (recapture)/provision for loan losses (891 ) 3,446 (893 ) 6,501 Increase/(decrease) in loss share receivable 1,819 (3,897 ) 6,046 927 Loans charged-off (815 ) (4,410 ) (4,022 ) (6,346 ) Balance at end of the period $ 41,627 $ 45,109 $ 41,627 $ 45,109 An acquired or FDIC acquired 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 FDIC acquired 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 $118.0 thousand and $236.0 thousand for the three and six months ended June 30, 2015 , respectively, compared to $20.0 thousand and $123.0 thousand for the three and six months ended June 30, 2014 , respectively. Interest income which would have been earned in accordance with the original terms was $0.9 million and $1.8 million for the three and six months ended June 30, 2015 , respectively, compared to $0.5 million and $1.3 million for the three and six months ended June 30, 2014 , 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 FDIC acquired 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 Troubled Debt Restructurings section 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, 2015 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 28,076 $ 37,358 $ ā $ 27,238 CRE 11,482 17,585 ā 12,983 Construction ā ā ā ā Leases 1,162 1,162 ā 598 Consumer Installment 1,678 2,183 ā 1,753 Home equity line 884 1,132 ā 906 Credit card 19 19 ā 26 Residential mortgages 12,047 14,700 ā 12,146 Subtotal 55,348 74,139 ā 55,650 Impaired loans with a related allowance Commercial C&I 17,893 18,062 9,117 7,199 CRE 590 593 151 600 Construction ā ā ā ā Leases ā ā ā ā Consumer Installment 30,249 30,302 1,001 25,722 Home equity line 6,537 6,537 217 6,684 Credit card 768 768 250 823 Residential mortgages 12,650 12,739 890 12,675 Subtotal 68,687 69,001 11,626 53,703 Total impaired loans $ 124,035 $ 143,140 $ 11,626 $ 109,353 Note 1: These tables exclude loans fully charged off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. As of December 31, 2014 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 11,451 $ 18,207 $ ā $ 14,193 CRE 16,874 22,696 ā 18,027 Construction ā ā ā ā Consumer Installment 4,460 4,584 ā 4,272 Home equity line 1,723 1,754 ā 1,792 Credit card 16 16 ā 32 Residential mortgages 12,204 15,119 ā 12,425 Subtotal 46,728 62,376 ā 50,741 Impaired loans with a related allowance Commercial C&I 308 344 72 326 CRE 6,426 6,440 2,914 4,497 Construction ā ā ā ā Consumer Installment 20,445 21,024 1,178 19,513 Home equity line 5,656 5,875 207 5,944 Credit card 838 838 296 966 Residential mortgages 13,047 13,158 1,283 13,121 Subtotal 46,720 47,679 5,950 44,367 Total impaired loans $ 93,448 $ 110,055 $ 5,950 $ 95,108 Note 1: These tables exclude loans fully charged off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. 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 $ ā $ 3,543 CRE 20,635 26,026 ā 22,249 Construction 53 76 ā 256 Consumer Installment 4,510 4,620 ā 4,636 Home equity line 1,041 1,047 ā 1,067 Credit card 34 34 ā 48 Residential mortgages 12,729 15,748 ā 12,828 Subtotal 41,540 52,531 ā 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 ā ā 9 ā 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 represent 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, 2015 , December 31, 2014 , and June 30, 2014 . As of June 30, 2015 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 56 $ 29,454 $ 36,538 CRE 69 10,362 15,681 Construction 31 ā ā Total originated commercial 156 39,816 52,219 Consumer Installment 1,215 31,927 32,485 Home equity lines 271 7,421 7,669 Credit card 231 787 787 Residential mortgages 316 24,697 27,439 Total originated consumer 2,033 64,832 68,380 Total originated loans 2,189 $ 104,648 $ 120,599 Acquired loans Commercial C&I 2 $ ā $ 55 CRE 3 930 1,018 Total acquired commercial 5 930 1,073 Consumer Installment 50 1,144 1,227 Home equity lines 174 7,138 7,205 Residential mortgages 31 2,150 2,386 Total acquired consumer 255 10,432 10,818 Total acquired loans 260 $ 11,362 $ 11,891 FDIC acquired loans Commercial C&I 8 $ ā $ 1,299 CRE 24 11,704 27,933 Construction 9 525 9,542 Total FDIC acquired commercial 41 12,229 38,774 Consumer Home equity lines 77 10,563 10,739 Residential mortgages 1 184 184 Total FDIC acquired consumer 78 10,747 10,923 Total FDIC acquired loans 119 $ 22,976 $ 49,697 Total loans Commercial C&I 66 $ 29,454 $ 37,892 CRE 96 22,996 44,632 Construction 40 525 9,542 Total commercial 202 52,975 92,066 Consumer Installment 1,265 33,071 33,712 Home equity lines 522 25,122 25,613 Credit card 231 787 787 Residential mortgages 348 27,031 30,009 Total consumer 2,366 86,011 90,121 Total loans 2,568 $ 138,986 $ 182,187 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs and remaining purchase discount. As of December 31, 2014 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 41 $ 7,123 $ 13,887 CRE 67 17,607 22,645 Construction 31 ā ā Total originated commercial 139 24,730 36,532 Consumer Installment 1,205 24,905 25,608 Home equity lines 270 7,379 7,629 Credit card 238 854 854 Residential mortgages 315 25,251 28,277 Total originated consumer 2,028 58,389 62,368 Total originated loans 2,167 $ 83,119 $ 98,900 Acquired loans Commercial C&I 2 18 19 CRE 3 2,542 2,595 Total acquired commercial 5 2,560 2,614 Consumer Installment 40 975 1,054 Home equity lines 145 6,932 6,983 Residential mortgages 26 1,633 1,823 Total acquired consumer 211 9,540 9,860 Total acquired loans 216 $ 12,100 $ 12,474 FDIC acquired loans Commercial C&I 8 $ 177 $ 1,589 CRE 24 25,499 42,226 Construction 9 339 9,552 Total FDIC acquired commercial 41 26,015 53,367 Consumer Home equity lines 68 8,890 8,901 Residential Mortgages 2 334 334 Total FDIC acquired consumer 70 9,224 9,235 Total FDIC acquired loans 111 $ 35,239 $ 62,602 Total loans Commercial C&I 51 $ 7,318 $ 15,495 CRE 94 45,648 67,466 Construction 40 339 9,552 Total commercial 185 53,305 92,513 Consumer Installment 1,245 25,880 26,662 Home equity lines 483 23,201 23,513 Credit card 238 854 854 Residential mortgages 343 27,218 30,434 Total consumer 2,309 77,153 81,463 Total loans 2,494 $ 130,458 $ 173,976 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs and remaining purchase discount. 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 FDIC acquired loans Commercial C&I 6 $ 177 $ 1,070 CRE 24 37,385 54,480 Construction 10 2,605 21,331 Total FDIC acquired commercial 40 40,167 76,881 Consumer Home equity lines 62 8,489 8,489 Residential mortgages 2 337 337 Total FDIC acquired consumer 64 8,826 8,826 Total FDIC acquired 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: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs and remaining purchase discount. The pre-modification and post-modification outstanding recorded investments of loans modified as TDRs during the three and six months ended June 30, 2015 and 2014 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, 2015 and 2014 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, 2015 and 2014 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, 2015 , December 31, 2014 , and June 30, 2014 , the Corporation had $3.7 million , $0.2 million , and $1.6 million , respectively, 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, 2015 , December 31, 2014 , and June 30, 2014 , including TDRs that continue to accrue interest and TDRs included in nonperforming assets. As of June 30, 2015 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 17,346 $ ā $ 17,346 $ 9,260 $ 2,848 $ 12,108 $ 29,454 $ 2,893 CRE 5,968 ā 5,968 1,598 2,796 4,394 10,362 63 Construction ā ā ā ā ā ā ā ā Total originated commercial 23,314 ā 23,314 10,858 5,644 16,502 39,816 2,956 Consumer Installment 29,715 603 30,318 1,390 219 1,609 31,927 1,001 Home equity lines 6,611 107 6,718 557 146 703 7,421 217 Credit card 684 100 784 ā 3 3 787 250 Residential mortgages 13,925 2,105 16,030 4,957 3,710 8,667 24,697 890 Total originated consumer 50,935 2,915 53,850 6,904 4,078 10,982 64,832 2,358 Total originated TDRs $ 74,249 $ 2,915 $ 77,164 $ 17,762 $ 9,722 $ 27,484 $ 104,648 $ 5,314 Acquired loans Commercial C&I ā ā ā ā ā ā ā ā CRE ā ā ā 930 ā 930 930 98 Total acquired commercial ā ā ā 930 ā 930 930 98 Consumer Installment 1,082 47 1,129 15 ā 15 1,144 44 Home equity lines 6,387 618 7,005 133 ā 133 7,138 ā Residential mortgages 1,313 ā 1,313 615 222 837 2,150 ā Total acquired consumer 8,782 665 9,447 763 222 985 10,432 44 Total acquired TDRs $ 8,782 $ 665 $ 9,447 $ 1,693 $ 222 $ 1,915 $ 11,362 $ 142 FDIC acquired loans Commercial C&I $ ā $ ā $ ā $ ā $ ā $ ā $ ā $ ā CRE ā 11,704 11,704 ā ā ā 11,704 2,393 Construction 525 ā 525 ā ā ā 525 96 Total FDIC acquired commercial 525 11,704 12,229 ā ā ā 12,229 2,489 Consumer Home equity lines 9,505 89 9,594 143 826 969 10,563 23 Residential mortgages 184 ā 184 ā ā ā 184 ā Total FDIC acquired consumer 9,689 89 9,778 143 826 969 10,747 23 Total FDIC acquired TDRs $ 10,214 $ 11,793 $ 22,007 $ 143 $ 826 $ 969 $ 22,976 $ 2,512 Total loans Commercial C&I $ 17,346 $ ā $ 17,346 $ 9,260 $ 2,848 $ 12,108 $ 29,454 $ 2,893 CRE 5,968 11,704 17,672 2,528 2,796 5,324 22,996 2,554 Construction 525 ā 525 ā ā ā 525 96 Total commercial 23,839 11,704 35,543 11,788 5,644 17,432 52,975 5,543 Consumer Installment 30,797 650 31,447 1,405 219 1,624 33,071 1,045 Home equity lines 22,503 814 23,317 833 972 1,805 25,122 240 Credit card 684 100 784 ā 3 3 787 250 Residential mortgages 15,422 2,105 17,527 5,572 3,932 9,504 27,031 890 Total consumer 69,406 3,669 73,075 7,810 5,126 12,936 86,011 2,425 Total TDRs $ 93,245 $ 15,373 $ 108,618 $ 19,598 $ 10,770 $ 30,368 $ 138,986 $ 7,968 As of December 31, 2014 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 6,740 $ ā $ 6,740 $ ā $ 383 $ 383 $ 7,123 $ 72 CRE 12,885 952 13,837 394 3,376 3,770 17,607 159 Construction ā ā ā ā ā ā ā ā Total originated commercial 19,625 952 20,577 394 3,759 4,153 24,730 231 Consumer Installment 22,254 726 22,980 1,663 262 1,925 24,905 1,178 Home equity lines 6,239 269 6,508 871 ā 871 7,379 207 Credit card 775 60 835 15 4 19 854 296 Residential mortgages 13,440 3,538 16,978 5,006 3,267 8,273 25,251 1,283 Total originated consumer 42,708 4,593 47,301 7,555 3,533 11,088 58,389 2,964 Total originated TDRs $ 62,333 $ 5,545 $ 67,878 $ 7,949 $ 7,292 $ 15,241 $ 83,119 $ 3,195 Acquired loans Commercial C&I $ 15 $ ā $ 15 $ 3 $ ā $ 3 $ 18 $ 18 CRE ā ā ā 978 1,564 2,542 2,542 134 Total acquired commercial 15 ā 15 981 1,564 2,545 2,560 152 Consumer Installment 841 87 928 24 23 47 975 65 Home equity lines 6,186 607 6,793 139 ā 139 6,932 9 Residential mortgages 868 ā 868 470 295 765 1,633 2 Total acquired consumer 7,895 694 8,589 633 318 951 9,540 76 Total acquired TDRs $ 7,910 $ 694 $ 8,604 $ 1,614 $ 1,882 $ 3,496 $ 12,100 $ 228 FDIC acquired loans Commercial C&I $ ā $ 177 $ 177 $ ā $ ā $ ā $ 177 $ ā CRE 5,123 20,376 25,499 ā ā ā 25,499 2,879 Construction 339 ā 339 ā ā ā 339 295 Total FDIC acquired commercial 5,462 20,553 26,015 ā ā ā 26,015 3,174 Consumer Home equity lines 8,561 ā 8,561 329 ā 329 8,890 27 Residential mortgages 334 ā 334 ā ā ā 334 21 Total FDIC acquired consumer 8,895 ā 8,895 329 ā 329 9,224 48 Total FDIC acquired TDRs $ 14,357 $ 20,553 $ 34,910 $ 329 $ ā $ 329 $ 35,239 $ 3,222 Total Loans Commercial C&I $ 6,755 $ 177 $ 6,932 $ 3 $ 383 $ 386 $ 7,318 $ 90 CRE 18,008 21,328 39,336 1,372 4,940 6,312 45,648 3,172 Construction 339 ā 339 ā ā ā 339 295 Total commercial 25,102 21,505 46,607 1,375 5,323 6,698 53,305 3,557 Consumer Installment 23,095 813 23,908 1,687 285 1,972 25,880 1,243 Home equity lines 20,986 876 21,862 1,339 ā 1,339 23,201 243 Credit card 775 60 835 15 4 19 854 296 Residential mortgages 14,642 3,5 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 , December 31, 2014 , and June 30, 2014 . 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, 2014 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, 2015 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (24,150 ) $ 58,173 Lease intangible 238 (194 ) 44 Trust Relationships (2) 14,000 (6,393 ) 7,607 $ 96,561 (30,737 ) $ 65,824 December 31, 2014 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (19,996 ) $ 62,327 Lease intangible 238 (176 ) 62 Trust Relationships (2) 14,000 (5,369 ) 8,631 $ 96,561 $ (25,541 ) $ 71,020 June 30, 2014 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 87,533 $ (20,637 ) $ 66,896 Lease intangible 618 (538 ) 80 Trust relationships (2) 14,000 (4,090 ) 9,910 $ 102,151 $ (25,265 ) $ 76,886 (1) Core deposit intangibles are amortized on an accelerated basis over their estimated useful lives, which range from 10 - 15 years. (2) Trust relationship intangibles are amortized on an accelerated basis on their estimated useful lives of 12 years . Amortization expense for intangible assets was $5.2 million in the six months ended June 30, 2015 , compared to $5.9 million in the six months ended June 30, 2014 . Estimated amortization expense for each of the next five years is as follows: remainder of 2015 - $5.2 million ; 2016 - $9.2 million ; 2017 - $8.2 million ; 2018 - $7.3 million ; and 2019 - $6.5 million . |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Stockholders' Equity Note Disclosure | Shareholders' Equity Common Stock Warrant On May 13, 2015, the Corporation repurchased a warrant previously issued by Citizens to the U.S. Treasury. The warrant, which entitled the U.S. Treasury to purchase 2,571,998 shares of FirstMerit Common Stock at an adjusted strike price of $17.50 , was purchased for $12.2 million . In accordance with GAAP, the Corporation recorded a reduction to capital surplus in the amount of $9.2 million in conjunction with this warrant repurchase that reflected the excess amount paid over the previously stated amount. 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, of which 100,000 shares were issued. The Preferred Stock pays cash dividends quarterly in arrears on the 4 th 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, (Dollars in thousands, except per share amounts) 2015 2014 2015 2014 Basic EPS: Net income $ 56,584 $ 59,519 $ 113,723 $ 112,974 Less: Cash dividends on 5.875% non-cumulative perpetual series A, Preferred Stock 1,469 1,469 2,938 2,938 Income allocated to participating securities 467 489 937 926 Net income attributable to common shareholders $ 54,648 $ 57,561 $ 109,848 $ 109,110 Weighted average Common Stock outstanding used in basic EPS 165,736 165,335 165,574 165,198 Basic net income per common share $ 0.33 $ 0.35 $ 0.66 $ 0.66 Diluted EPS: Income used in diluted earnings per common share calculation $ 54,648 $ 57,561 $ 109,848 $ 109,110 Weighted average Common Stock outstanding used in basic EPS 165,736 165,335 165,574 165,198 Add: Common Stock equivalents: Warrant and stock plans 541 812 515 854 Weighted average Common and Common Stock equivalent shares outstanding 166,277 166,147 166,089 166,052 Diluted net income per common share $ 0.33 $ 0.35 $ 0.66 $ 0.66 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, 2015 and 2014 totaled 0.8 million and 1.0 million , respectively. |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information Management monitors the Corporationās 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. ā¢ Commercial ā 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. ā¢ Retail ā The retail line of business includes consumer lending and deposit gathering, residential mortgage loan origination and servicing, and branch-based small business banking. 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. ā¢ Wealth ā 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. ā¢ Other ā 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, eliminating 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 2014 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. 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 Corporationās 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, 2015 and June 30, 2014 : FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2015 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 101,342 $ 202,830 $ 92,501 $ 184,527 $ 5,452 $ 10,932 $ (14,177 ) $ (27,548 ) $ 185,118 $ 370,741 Provision/ (recapture) for loan losses 2,285 1,759 8,447 15,981 (1 ) (171 ) (1,765 ) (355 ) 8,966 17,214 Noninterest income 21,918 44,408 23,964 45,701 14,816 28,792 5,884 13,528 66,582 132,429 Noninterest expense 61,032 122,685 87,799 176,070 13,461 27,181 (618 ) (3,610 ) 161,674 322,326 Net income/(loss) 38,963 79,816 13,142 24,815 4,425 8,264 54 828 56,584 113,723 AVERAGES: Assets $ 9,437,824 $ 9,445,975 $ 5,951,665 $ 5,898,835 $ 290,798 $ 296,461 $ 9,449,572 $ 9,374,463 $ 25,129,859 $ 25,015,734 Loans 9,533,843 9,520,262 5,702,015 5,636,666 281,013 286,484 60,490 59,274 15,577,361 15,502,686 Earning assets 9,828,867 9,811,770 5,707,400 5,645,469 281,013 286,484 6,535,441 6,483,544 22,352,721 22,227,267 Deposits 6,777,434 6,831,887 11,105,954 11,115,005 1,188,563 1,214,617 610,711 573,990 19,682,662 19,735,499 Economic capital 1,355,049 1,349,289 767,803 763,446 111,770 109,969 657,810 656,765 2,892,432 2,879,469 FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2014 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 106,217 $ 210,422 $ 96,108 $ 190,454 $ 4,927 $ 9,717 $ (11,675 ) $ (21,114 ) $ 195,577 $ 389,479 Provision/ (recapture) for loan losses (1,346 ) 4,360 12,443 20,782 396 351 3,760 4,297 15,253 29,790 Noninterest income 26,681 47,987 25,345 52,380 14,052 27,516 6,482 11,948 72,560 139,831 Noninterest expense 63,441 127,407 89,383 186,091 13,177 26,695 1,399 (3,460 ) 167,400 336,733 Net income/(loss) 46,875 83,885 12,758 23,375 3,515 6,622 (3,629 ) (907 ) 59,519 112,974 AVERAGES: Assets $ 9,192,463 $ 9,132,758 $ 5,546,492 $ 5,504,382 $ 258,845 $ 250,279 $ 9,293,476 $ 9,329,040 $ 24,291,276 $ 24,216,459 Loans 9,176,853 9,119,431 5,198,481 5,142,098 248,188 239,358 78,797 57,313 14,702,319 14,558,200 Earning assets 9,465,291 9,387,095 5,218,868 5,160,893 248,188 239,358 6,435,149 6,349,614 21,367,496 21,136,960 Deposits 6,545,608 6,595,348 11,720,730 11,736,766 1,050,002 1,030,018 180,455 204,132 19,496,795 19,566,264 Economic capital 1,301,532 1,300,177 744,110 724,203 100,361 98,684 622,349 627,822 2,768,352 2,750,886 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | 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, 2015 , December 31, 2014 , and June 30, 2014 , 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, 2015 December 31, 2014 June 30, 2014 June 30, 2015 December 31, 2014 June 30, 2014 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps: Commercial Loan Swaps (FRAPS) $ ā $ ā $ ā $ ā $ ā $ ā $ 75,794 $ 5,104 $ 93,313 $ 6,683 $ 102,828 $ 8,989 Sub Debt Swap 250,000 1,153 250,000 5,256 ā ā ā ā ā ā ā ā Fair value hedges $ 250,000 $ 1,153 $ 250,000 $ 5,256 $ ā $ ā $ 75,794 $ 5,104 $ 93,313 $ 6,683 $ 102,828 $ 8,989 ( 1) Included in "Other assets" on the Consolidated Balance Sheets (2) 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. During the fourth quarter of 2014, the Corporation entered into a $250.0 million interest rate swap simultaneously with its long-term debt issuance for interest rate risk management purposes. This interest rate swap effectively modifies the receipt of fixed-rate interest amounts in exchange for floating-rate interest payments over the life of the swap, without an exchange of the underlying principal amount. This interest rate swap was designated as a fair value hedge, and through application of the āshortcut method of accountingā, there is an assumption that the hedge is effective in offsetting changes in the fair value of the long-term debt due to changes in the U.S. LIBOR swap rate (the designated benchmark interest rate). Derivatives Not Designated in Hedge Relationships As of June 30, 2015 , December 31, 2014 , and June 30, 2014 , 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, 2015 December 31, 2014 June 30, 2014 June 30, 2015 December 31, 2014 June 30, 2014 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps $ 1,726,600 $ 46,216 $ 1,673,012 $ 48,366 $ 1,618,463 $ 47,952 $ 1,726,600 $ 46,216 $ 1,673,012 $ 48,366 $ 1,618,463 $ 47,952 Mortgage loan commitments 52,024 342 102,523 1,408 169,232 2,491 ā ā ā ā ā ā Forward sales contracts 15,200 106 ā ā ā ā ā ā 47,657 272 80,161 545 Credit contracts ā ā 10,001 ā 15,269 ā 73,512 ā 69,227 ā 52,319 10 Foreign exchange 29,687 256 22,406 167 25,623 107 15,823 177 6,580 118 7,568 48 Equity swap ā ā ā ā ā ā 31,718 ā 25,198 ā 25,397 ā Total $ 1,823,511 $ 46,920 $ 1,807,942 $ 49,941 $ 1,828,587 $ 50,550 $ 1,847,653 $ 46,393 $ 1,821,674 $ 48,756 $ 1,783,908 $ 48,555 (1) Included in "Other assets" on the Consolidated Balance Sheets (2) 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 result 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 in 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 3 to 8 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 1 year to 9 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 $4.5 million as of June 30, 2015 . The fair values of the written swap participations were not material at June 30, 2015 , December 31, 2014 , and June 30, 2014 . Gains and losses recognized in income on non-designated hedging instruments for the three and six months ended June 30, 2015 and 2014 are as follows: Derivatives not instruments Location of Gain/(Loss) Derivative Amount of Gain / (Loss) Recognized in Income on Derivatives (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Mortgage loan commitments Loan sales and servicing income $ (46 ) $ 916 $ (1,066 ) $ 1,600 Forward sales contracts Loan sales and servicing income 175 (713 ) 378 (929 ) Foreign exchange contracts Other operating income 165 328 (712 ) 107 Equity swap Other operating expense ā ā ā ā Total $ 294 $ 531 $ (1,400 ) $ 778 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. All derivative contracts may be executed only with exchanges or counterparties 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 with collateral delivery thresholds on all bilateral derivatives. 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 approved by the Corporation's Board of Directors. The Corporation generally posts collateral in the form of highly rated Government Agency issued bonds or MBS. The majority of the Corporation's over-the-counter derivative transactions are cleared through a recognized derivative clearing organization ("Clearinghouse"). For cleared derivatives, the Clearinghouse is the Corporation's counterparty. The Clearinghouse notifies the clearing agent of the required initial and variation margin and the clearing agent notifies the Corporation of the required initial and variation margin. The requirement that the Corporation post initial and variation margin through the clearing agent to the Clearinghouse exposes the Corporation to institutional credit risk if the clearing agent or the Clearinghouse fails to meet its obligations. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral is posted daily through a clearing agent for changes in the value of cleared derivatives. The fair value of investment securities posted as collateral against derivative liabilities was $45.6 million , $53.5 million , and $64.0 million as of June 30, 2015 , December 31, 2014 , and June 30, 2014 , 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 in the 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, 2015 , December 31, 2014 , and June 30, 2014 . 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, 2015 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 (1) Collateral (2) Derivative Assets Interest rate swaps - designated $ 1,153 $ ā $ 1,153 $ ā $ ā $ 1,153 Interest rate swaps - non-designated 414 $ ā 414 (414 ) ā ā Foreign exchange 164 ā 164 (49 ) (115 ) ā Total derivative assets $ 1,731 $ ā $ 1,731 $ (463 ) $ (115 ) $ 1,153 Derivative liabilities Interest rate swaps - designated $ 5,104 $ ā $ 5,104 $ ā $ (5,104 ) $ ā Interest rate swaps - non-designated 45,802 ā 45,802 (414 ) (45,388 ) ā Foreign exchange 49 ā 49 (49 ) ā ā Total derivative liabilities $ 50,955 $ ā $ 50,955 $ (463 ) $ (50,492 ) $ ā As of December 31, 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 (1) Collateral (2) Derivative assets Interest rate swaps - designated $ 5,256 $ ā $ 5,256 $ ā $ ā $ 5,256 Interest rate swaps - non-designated 352 ā 352 (352 ) ā ā Foreign exchange 134 ā 134 (28 ) (106 ) ā Total derivative assets $ 5,742 $ ā $ 5,742 $ (380 ) $ (106 ) $ 5,256 Derivative liabilities Interest rate swaps - designated $ 6,683 $ ā $ 6,683 $ ā $ (6,683 ) $ ā Interest rate swaps - non-designated 48,014 ā 48,014 (352 ) (47,662 ) ā Foreign exchange 28 ā 28 (28 ) ā ā Total derivative liabilities $ 54,725 $ ā $ 54,725 $ (380 ) $ (54,345 ) $ ā 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 (1) Collateral (2) Derivative assets Interest rate swaps - non-designated $ 839 $ ā $ 839 $ (839 ) $ ā $ ā Foreign exchange 19 ā 19 (19 ) ā ā Total derivative assets $ 858 $ ā $ 858 $ (858 ) $ ā $ ā Derivative liabilities Interest rate swaps - designated $ 8,989 $ ā $ 8,989 $ ā $ (8,989 ) $ ā Interest rate swaps - non-designated 47,114 ā 47,114 (839 ) (46,275 ) ā Foreign exchange 35 ā 35 (19 ) (16 ) ā Total derivative liabilities $ 56,138 $ ā $ 56,138 $ (858 ) $ (55,280 ) $ ā (1) 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. (2) 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, 2015 | |
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) 2015 2014 2015 2014 Service cost $ 207 $ 182 $ 415 $ 364 Interest cost 3,517 3,584 7,035 7,168 Expected return on assets (3,902 ) (4,009 ) (7,804 ) (8,017 ) Amortization of unrecognized prior service costs 570 698 1,140 1,331 Amortization of actuarial losses/(gains) 1,057 804 2,113 1,513 Net periodic pension cost $ 1,449 $ 1,259 $ 2,899 $ 2,359 Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Service cost $ 41 $ 16 $ 83 $ 33 Interest cost 144 164 288 327 Amortization of unrecognized prior service costs (160 ) (117 ) (319 ) (234 ) Amortization of actuarial losses/(gains) 81 59 163 118 Net periodic postretirement cost $ 106 $ 122 $ 215 $ 244 For further information on the Corporation's employee benefit plans, refer to Note 14 (Benefit Plans) to the consolidated financial statements in the 2014 Form 10-K. |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2015 | |
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: ā¢ Level 1 ā Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. ā¢ Level 2 ā Significant other observable inputs other than Level 1 prices such as 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. ā¢ Level 3 ā 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: ā¢ the amount of time since the last relevant valuation; ā¢ whether there is an actual trade or relevant external quote available at the measurement date; and ā¢ volatility associated with the primary pricing components. Management ensures that fair value measurements are accurate and appropriate by relying upon various controls, including: ā¢ an independent review and approval of valuation models; ā¢ recurring detailed reviews of profit and loss; and ā¢ 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 2014 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, 2015 , December 31, 2014 , and June 30, 2014 : Fair Value by Hierarchy (In thousands) June 30, 2015 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,824 $ 2,824 $ ā $ ā U.S. treasury notes & bonds 5,005 ā 5,005 ā U.S. government agency debentures 2,510 ā 2,510 ā U.S. States and political subdivisions 207,617 ā 207,617 ā Residential mortgage-backed securities: U.S. government agencies 960,852 ā 960,852 ā Commercial mortgage-backed securities: U.S. government agencies 170,338 ā 170,338 ā Residential collateralized mortgage-backed securities: U.S. government agencies 1,949,389 ā 1,949,389 ā Non-agency 5 ā ā 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 228,438 ā 228,438 ā Corporate debt securities 53,450 ā ā 53,450 Asset-backed securities: Collateralized loan obligations 258,081 ā ā 258,081 Total available for sale securities 3,838,509 2,824 3,524,149 311,536 Residential loans held for sale 8,302 ā 8,302 ā Derivative assets: Interest rate swaps - fair value hedges 1,153 ā 1,153 ā Interest rate swaps - nondesignated 46,216 ā 46,216 ā Mortgage loan commitments 342 ā 342 ā Forward sale contracts 106 ā 106 ā Foreign exchange 256 ā 256 ā Total derivative assets 48,073 ā 48,073 ā Total fair value of assets (1) $ 3,894,884 $ 2,824 $ 3,580,524 $ 311,536 Derivative liabilities: Interest rate swaps - fair value hedges $ 5,104 $ ā $ 5,104 $ ā Interest rate swaps - nondesignated 46,216 ā 46,216 ā Foreign exchange 177 ā 177 ā Total derivative liabilities 51,497 ā 51,497 ā True-up liability 13,408 ā ā 13,408 Total fair value of liabilities (1) $ 64,905 $ ā $ 51,497 $ 13,408 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 20,809 $ ā $ ā $ 20,809 Impaired loans (3) 72,580 ā ā 72,580 Other property (4) 33,078 ā ā 33,078 Other real estate covered by loss share (5) 4 ā ā 4 Total nonrecurring fair value $ 126,471 $ ā $ ā $ 126,471 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the three months ended June 30, 2015 . (2) MSRs with a recorded investment of $20.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $20.1 million resulting in recognition of $0.6 million in recoveries included in loan sales and servicing income in the three months ended June 30, 2015 . (3) Collateral dependent impaired loans with a recorded investment of $82.7 million were reduced by specific valuation allowance allocations totaling $10.2 million to a reported net carrying value of $72.6 million . (4) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $2.1 million included in noninterest expense. (5) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition was immaterial. Fair Value by Hierarchy (In thousands) December 31, 2014 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,974 $ 2,974 $ ā $ ā U.S. government agency debentures 2,482 ā 2,482 ā U.S. States and political subdivisions 227,342 ā 227,342 ā Residential mortgage-backed securities: U.S. government agencies 970,998 ā 970,998 ā Commercial mortgage-backed securities: U.S. government agencies 103,403 ā 103,403 ā Residential collateralized mortgage-backed securities: U.S. government agencies 1,676,567 ā 1,676,567 ā Non-agency 7 ā 1 6 Commercial collateralized mortgage-backed securities: U.S. government agencies 222,334 ā 222,334 ā Corporate debt securities 51,337 ā ā 51,337 Asset-backed securities Collateralized loan obligations 287,844 ā ā 287,844 Total available-for-sale securities 3,545,288 2,974 3,203,127 339,187 Residential loans held for sale 14,389 ā 14,389 ā Derivative assets: Interest rate swaps - fair value hedges 5,256 ā 5,256 ā Interest rate swaps - nondesignated 48,366 ā 48,366 ā Mortgage loan commitments 1,408 ā 1,408 ā Forward sale contracts ā ā ā ā Foreign exchange 167 ā 167 ā Total derivative assets 55,197 ā 55,197 ā Total fair value of assets (1) $ 3,614,874 $ 2,974 $ 3,272,713 $ 339,187 Derivative liabilities: Interest rate swaps - fair value hedges $ 6,683 $ ā $ 6,683 $ ā Interest rate swaps - nondesignated 48,366 ā 48,366 ā Forward sale contracts 272 ā 272 ā Foreign exchange 118 ā 118 ā Total derivative liabilities 55,439 ā 55,439 ā True-up liability 13,294 ā ā 13,294 Total fair value of liabilities (1) $ 68,733 $ ā $ 55,439 $ 13,294 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 21,228 $ ā $ ā $ 21,228 Impaired loans (3) 56,041 ā ā 56,041 Other property (4) 12,510 ā ā 12,510 Other real estate covered by loss share (5) 3,614 ā ā 3,614 Total nonrecurring fair value $ 93,393 $ ā $ ā $ 93,393 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the year ended December 31, 2014 . (2) MSRs with a recorded investment of $22.0 million were reduced by a specific valuation allowance totaling $1.0 million to a reported carrying value of $21.1 million resulting in a recovery of previously recognized expense of $0.7 million in recoveries included in loans sales and servicing income in the year ended December 31, 2014 . (3) Collateral dependent impaired loans with a recorded investment of $60.3 million were reduced by specific valuation allowance allocations totaling $4.3 million to a reported net carrying value of $56.0 million . (4) Amounts do not include assets held at cost at December 31, 2014 . During the year ended December 31, 2014 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $2.6 million included in noninterest expense. (5) Amounts do not include assets held at cost at December 31, 2014 . During the year ended December 31, 2014 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $1.2 million included in noninterest expense. Fair Value by Hierarchy (In thousands) June 30, 2014 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,935 $ 2,935 $ ā $ ā Non-marketable equity securities 3,281 10 3,271 U.S. States and political subdivisions 240,805 ā 240,805 ā Residential mortgage-backed securities: U.S. government agencies 1,018,174 ā 1,018,174 ā Commercial mortgage-backed securities: U.S. government agencies 85,698 ā 85,698 ā Residential collateralized mortgage-backed securities: U.S. government agencies 1,598,031 ā 1,598,031 ā Non-agency 8 ā 1 7 Commercial collateralized mortgage-backed securities: U.S. government agencies 182,033 ā 182,033 ā Corporate debt securities 53,490 ā ā 53,490 Asset-backed securities: Collateralized loan obligations 293,965 ā ā 293,965 Total available-for-sale securities 3,478,420 2,935 3,124,752 350,733 Residential loans held for sale 21,632 ā 21,632 ā Derivative assets: Interest rate swaps - fair value hedges ā ā ā ā Interest rate swaps - nondesignated 47,952 ā 47,952 ā Mortgage loan commitments 2,491 ā 2,491 ā Forward sale contracts ā ā ā ā Foreign exchange 107 ā 107 ā Total derivative assets 50,550 ā 50,550 ā Total fair value of assets (1) $ 3,550,602 $ 2,935 $ 3,196,934 $ 350,733 Derivative liabilities: Interest rate swaps - fair value hedges $ 8,989 $ ā $ 8,989 $ ā Interest rate swaps - nondesignated 47,952 ā 47,952 ā Forward sale contracts 545 ā 545 ā Foreign exchange 48 ā 48 ā Credit contracts 10 ā 10 ā Total derivative liabilities 57,544 ā 57,544 ā True-up liability 12,581 ā ā 12,581 Total fair value of liabilities (1) $ 70,125 $ ā $ 57,544 $ 12,581 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 21,987 $ ā $ ā $ 21,987 Impaired loans (3) 56,006 ā ā 56,006 Other property (4) 17,052 ā ā 17,052 Other real estate covered by loss share (5) 22,782 ā ā 22,782 Total nonrecurring fair value $ 117,827 $ ā $ ā $ 117,827 (1) There were no transfers between levels 1, 2 and 3 of the fair value hierarchy during the three months ended June 30, 2014 . (2) 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 recovery of a previously recognized expense of $0.1 million in the three months ended June 30, 2014 . (3) 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) 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. (5) 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 of $0.7 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, 2015 and 2014 , 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 92% 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, 2015 , 8% 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 are 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 11 ( 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 Bank's Board 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, 2015 . True-up liability. In connection with the George Washington and Midwest FDIC assisted 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 3.58% and 3.12% as of June 30, 2015 and 2014 , respectively. Increasing or decreasing the discount rate by one percentage point would change the liability by approximately $0.6 million and $0.7 million , respectively, as of June 30, 2015 . In accordance with the loss sharing agreements governing the Midwest acquisition, on July 15, 2020 (the āMidwest True-Up Measurement Dateā), 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 $8.4 million , $8.5 million , and $7.9 million as of June 30, 2015 , December 31, 2014 , and June 30, 2014 , respectively. In accordance with the loss sharing agreements governing the George Washington acquisition, on April 14, 2020 (the āGeorge Washington True-Up Measurement Dateā), 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 $5.0 million , $4.8 million , and $4.7 million as of June 30, 2015 , December 31, 2014 , and June 30, 2014 , 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 3 ( Loans ) and Note 4 ( 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, 2015 and 2014 are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (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 $ 346,685 $ 13,707 $ 349,425 $ 11,983 $ 339,187 $ 13,294 $ 347,610 $ 11,463 (Gains) losses included in earnings (1) ā (299 ) ā 598 ā 114 ā 1,118 Unrealized gains (losses) (2) 4,561 ā 1,253 ā 11,697 ā 3,021 ā Purchases 41,509 ā ā ā 41,509 ā ā ā Sales (71,832 ) ā ā ā (71,832 ) ā ā ā Settlements (9,387 ) ā 55 ā (9,025 ) ā 102 ā Balance at ending of period $ 311,536 $ 13,408 $ 350,733 $ 12,581 $ 311,536 $ 13,408 $ 350,733 $ 12,581 (1) Reported in "Other expense" (2) 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 āsimple-interestā method. None of these loans were 90 days or more past due, nor were any on nonaccrual as of June 30, 2015 , December 31, 2014 , and June 30, 2014 . The aggregate fair value, contractual balance and gain or loss on loans held for sale was as follows: (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 Aggregate fair value carrying amount $ 8,302 $ 14,389 $ 21,632 Aggregate unpaid principal / contractual balance 8,155 13,873 20,886 Carrying amount over aggregate unpaid principal (1) $ 147 $ 516 $ 746 (1) 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 Corporationās financial instruments that are carried at either fair value or cost as of June 30, 2015 , December 31, 2014 , and June 30, 2014 are shown in the tables below. June 30, 2015 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 587,589 $ 587,589 $ 587,589 $ ā $ ā Available-for-sale securities 3,838,509 3,838,509 2,824 3,524,149 311,536 Held-to-maturity securities 2,787,513 2,760,120 ā 2,760,120 ā Other securities 147,967 147,967 ā 147,967 ā Loans held for sale 5,432 8,302 ā 8,302 ā Net originated loans 13,254,230 13,077,485 ā ā 13,077,485 Net acquired loans 2,090,734 2,167,304 ā ā 2,167,304 Net FDIC acquired loans and loss share receivable 211,887 211,887 ā ā 211,887 Accrued interest receivable 66,501 66,501 ā 66,501 ā Derivatives 48,073 48,073 ā 48,073 ā Financial liabilities: Deposits $ 19,673,850 $ 19,681,270 $ ā $ 19,681,270 $ ā Federal funds purchased and securities sold under agreements to repurchase 1,519,250 1,519,250 ā 1,519,250 ā Wholesale borrowings 366,074 369,337 ā 369,337 ā Long-term debt 497,393 509,900 ā 509,900 ā Accrued interest payable 9,910 9,910 ā 9,910 ā Derivatives 51,497 51,497 ā 51,497 ā December 31, 2014 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 697,424 $ 697,424 $ 697,424 $ ā $ ā Available-for-sale securities 3,545,288 3,545,288 2,974 3,203,127 339,187 Held-to-maturity securities 2,903,609 2,875,920 ā 2,875,920 ā Other securities 148,654 148,654 ā 148,654 ā Loans held for sale 13,428 14,389 ā 14,389 ā Net originated loans 12,398,116 12,235,530 ā ā 12,235,530 Net |
Mortgage Servicing Rights and M
Mortgage Servicing Rights and Mortgage Servicing Activity | 6 Months Ended |
Jun. 30, 2015 | |
Transfers and Servicing [Abstract] | |
Mortgage Servicing Rights and Mortgage Servicing Activity | Mortgage Servicing Rights and Mortgage Servicing Activity The Corporation serviced for third parties approximately $2.5 billion of residential mortgage loans at June 30, 2015 and $2.7 billion at June 30, 2014 . Loan servicing fees, not including valuation changes included in loan sales and servicing income, were $1.6 million and $1.6 million , respectively, for the three months ended June 30, 2015 and 2014 , and were $3.2 million and $3.3 million , respectively, for the six months ended June 30, 2015 and 2014 . 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 10 ( 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) 2015 2014 2015 2014 Carrying amount of MSRs Beginning balance $ 21,490 $ 22,469 $ 22,011 $ 22,760 Additions 63 643 533 1,207 Amortization (918 ) (962 ) (1,909 ) (1,817 ) Ending balance 20,635 22,150 20,635 22,150 Valuation Allowance: Beginning balance (1,131 ) (425 ) (955 ) (282 ) Additions 641 (137 ) 465 (280 ) Ending balance (490 ) (562 ) (490 ) (562 ) MSRs, net carrying balance $ 20,145 $ 21,588 $ 20,145 $ 21,588 Fair value at end of period $ 20,809 $ 21,987 $ 20,809 $ 21,987 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 three and six months ended June 30, 2015 and 2014 . 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, 2015 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. (Dollars in thousands) Prepayment speed assumption (annual CPR) 10.10 % Decrease in fair value from 10% adverse change $ 701 Decrease in fair value from 25% adverse change $ 1,363 Discount rate assumption 9.38 % Decrease in fair value from 100 basis point adverse change $ 656 Decrease in fair value from 200 basis point adverse change $ 1,268 Expected weighted-average life (in months) 100 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies and Guarantees | Commitments and Guarantees Commitments to Extend Credit To accommodate the financial needs of its customers, the Corporation issues off-balance sheet financial instruments in connection with commercial and consumer lending activities. The credit risk associated with these instruments is essentially the same as that involved in extending loans to customers and is subject to the Corporation's normal credit approval policies. The Corporation maintains an allowance to cover probable credit losses inherent in lending-related commitments. The reserve for unfunded lending commitments at June 30, 2015 , December 31, 2014 , and June 30, 2014 , included in āaccrued expenses and other liabilitiesā on the Consolidated Balance Sheets, was $3.9 million , $5.8 million , and $7.1 million , respectively. The Corporation's credit risk associated with these instruments is represented by the contractual amounts indicated in the following table. Unused commitments to extend credit (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 Commercial $ 3,746,824 $ 3,748,690 $ 3,386,052 Consumer 2,397,353 2,387,623 2,280,431 Total unused commitments to extend credit $ 6,144,177 $ 6,136,313 $ 5,666,483 Unused Commitments to Extend Credit. Commitments to extend credit are legally binding agreements to lend to a customer, provided there is no violation of any condition established in the contract. These commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. Since many commitments expire without being drawn upon, the total contractual amount of commitments does not necessarily represent future cash requirements of the Corporation. 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 8 ( Derivatives and Hedging Activities ). Guarantees The Corporation is a guarantor in certain agreements with third parties. The Corporation's maximum credit risk associated with these instruments is represented by the contractual amounts indicated in the following table. Financial guarantees (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 Standby letters of credit $ 255,418 $ 242,390 $ 201,212 Loans sold with recourse 28,891 45,071 34,662 Total financial guarantees $ 284,309 $ 287,461 $ 235,874 Standby Letters of Credit. 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 Corporation has recourse against the customer for any amount required to be paid to a third party under a standby letter of credit. Collateral held varies, but may include marketable securities, equipment, inventory, and real estate. Except for short-term guarantees of $145.8 million at June 30, 2015 , the remaining guarantees extend in varying amounts through 2022 . Loans Sold with Recourse. The Corporation regularly sells service retained residential mortgage loans 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 service released residential mortgage loans to other investors which contain early payment default recourse provisions. As of June 30, 2015 , December 31, 2014 , and June 30, 2014 , the Corporation had sold $22.2 million , $38.1 million , and $24.1 million , respectively, of outstanding residential mortgage loans to GSEs and other investors with recourse provisions. The Corporation had reserved $6.7 million , $7.3 million , and $7.9 million as of June 30, 2015 , December 31, 2014 , and June 30, 2014 , respectively, for estimated losses from representation and warranty obligations and early payment default recourse provisions. Due to prior acquisitions, as of June 30, 2015 , the Corporation continued to service approximately $3.7 million in manufactured housing loans that were sold with recourse and had reserved $1.1 million for potential losses from these manufactured housing loans. The total reserve associated with loans sold with recourse was approximately $7.8 million , $8.4 million , and $9.0 million as of June 30, 2015 , December 31, 2014 , and June 30, 2014 , 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 repurchase reserves for the three and six months ended June 30, 2015 and 2014 are as follows: Three Months Ended June 30, 2015 (In thousands) Reserve on residential mortgage loans Reserve on manufactured housing loans Total repurchase reserve Balance at beginning of period $ 6,650 $ 1,126 $ 7,776 Net increase/(decrease) to reserve 363 ā 363 Net realized (losses)/gains (363 ) 2 (361 ) Balance at end of period $ 6,650 $ 1,128 $ 7,778 Three Months Ended June 30, 2014 (In thousands) Reserve on residential mortgage loans Reserve on manufactured housing loans Total repurchased reserve Balance at beginning of period $ 8,200 $ 1,117 $ 9,317 Net increase/(decrease) to reserve 164 ā 164 Net realized (losses)/gains (464 ) 5 (459 ) Balance at end of period $ 7,900 $ 1,122 $ 9,022 Six Months Ended June 30, 2015 (In thousands) Reserve on residential mortgage loans Reserve on manufactured housing loans Total repurchase reserve Balance at beginning of period $ 7,250 $ 1,124 $ 8,374 Net increase/(decrease) to reserve (39 ) ā (39 ) Net realized (losses) /gains (561 ) 4 (557 ) Balance at end of period $ 6,650 $ 1,128 $ 7,778 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 increase/(decrease) to reserve 2,757 ā 2,757 Net realized (losses)/gains (3,594 ) 8 (3,586 ) Balance at end of period $ 7,900 $ 1,122 $ 9,022 |
Changes and Reclassifications O
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 and 2014 : Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 (In thousands) Pretax Tax After tax Pretax Tax After tax Unrealized and realized securities gains and losses: Balance at the beginning of the period $ 24,728 $ 8,656 $ 16,072 $ (8,531 ) $ (2,985 ) $ (5,546 ) Changes in unrealized securities' holding gains/(losses) (28,642 ) (10,024 ) (18,618 ) 5,475 1,916 3,559 Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale into held-to-maturity (575 ) (203 ) (372 ) (1,079 ) (378 ) (701 ) Net losses/(gains) realized on sale of securities reclassified to noninterest income (567 ) (198 ) (369 ) (921 ) (322 ) (599 ) Balance at the end of the period (5,056 ) (1,769 ) (3,287 ) (5,056 ) (1,769 ) (3,287 ) Pension plans and other postretirement benefits: Balance at the beginning and end of the period (100,520 ) (35,181 ) (65,339 ) (102,068 ) (35,722 ) (66,346 ) Current year actual losses (gains) ā ā ā ā ā ā Amortization of actuarial gain 1,138 399 739 2,276 797 1,479 Amortization of prior service cost reclassified to other noninterest expense 410 144 266 820 287 533 Balance at the end of the period (98,972 ) (34,638 ) (64,334 ) (98,972 ) (34,638 ) (64,334 ) Total Accumulated Other Comprehensive Income $ (104,028 ) $ (36,407 ) $ (67,621 ) $ (104,028 ) $ (36,407 ) $ (67,621 ) Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 (In thousands) Pretax Tax After tax Pretax 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 from available-for-sale into 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) ā ā ā ā ā ā Amortization of actuarial losses/(gains) 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 ) The following table presents current period reclassifications out of AOCI by component of comprehensive income for the three and six months ended June 30, 2015 and 2014 : (In thousands) Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Income statement line item presentation Realized (gains)/losses on sale of securities $ (567 ) $ (921 ) Investment securities losses (gains), net Tax expense (benefit) (35%) (198 ) (322 ) Income tax expense (benefit) Reclassified amount, net of tax $ (369 ) $ (599 ) (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 ) |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
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 SEC. 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. |
Significant Accounting Polici23
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards FASB ASU 2015-10, Technical Corrections and Improvemen ts. The amendments in this update cover a wide range of Topics in the Codification. The amendments in this update represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the accounting guidance and are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, some of these amendments will make the accounting guidance easier to understand and eliminate inconsistencies. The SEC Update is effective immediately. The adoption of this accounting guidance did not have a material effect on the Corporationās financial position or results of operations. FASB ASU 2015-8, Business Combinations (Topic 805): Pushdown AccountingāAmendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 (SEC Update). The amendments in the SEC Update conform the accounting guidance with the various SEC paragraphs pursuance to the SEC Staff Accounting Bulletin No. 115. The SEC Update is effective immediately. The adoption of this accounting guidance did not have a material effect on the Corporationās financial position or results of operations. FASB ASU 2015-3, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in ASU 2015-03, require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from that debt liability, consistent with the presentation of a debt discount. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. For public business entities, these amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, and early adoption is permitted. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. As of June 30, 2015, the Corporation adopted this accounting standard by classifying $3.7 million of deferred debt issuance costs as a deduction to long term debt. Management concluded that the classification of debt issuance costs capitalized in prior periods was immaterial as a component of other assets, total assets, total long term debt, and total liabilities. As such, the Corporation's comparative periods have not been recasted. The amount of unamortized debt issuance costs not recasted are $3.8 million as of March 31, 2015, $3.7 million as of December 31, 2014, $1.9 million as of September 31, 2014, and $1.8 million as of June 30, 2014. FASB ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure āa consensus of the FASB Emerging Issues Task Force. The objective of this update is to reduce diversity in practice by addressing the classification of certain foreclosed mortgage loans held by creditors that are either fully or partially guaranteed under government programs. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: 1) the loan has a government guarantee that is not separable from the loan before foreclosure; 2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and 3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The ASU is effective for interim and annual periods beginning after December 15, 2014. The amendments can be adopted using either a prospective transition method or a modified retrospective transition method. The adoption of this accounting guidance did not have a material effect on the Corporationās financial position or results of operations. 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), eliminate accounting guidance on linking repurchase financing transactions, and expand 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 did not have a material effect on the Corporationās financial position or results of operations. 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 require 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 did not have a material effect on the Corporationās 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 did not have a material effect on the Corporationās financial position or results of operations. Recently Issued Accounting Standards FASB ASU 2015- 5, IntangiblesāGoodwill and OtherāInternal-Use Software (Subtopic 350-40): Customerās Accounting for Fees Paid in a Cloud Computing Arrangement. The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customerās accounting for service contracts. In addition, the guidance in this Update supersedes paragraph 350-40-25-16. Consequently, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets. The amendments are effective for public business entities for annual and interim periods within those annual periods, beginning after December 15, 2015. An entity can elect to adopt the amendments either (1) prospectively to all arrangements entered into or materially modified after the effective date or (2) retrospectively. For prospective transition, the only disclosure requirements at transition are the nature of and reason for the change in accounting principle, the transition method, and a qualitative description of the financial statement line items affected by the change. For retrospective transition, the disclosure requirements at transition include the requirements for prospective transition and quantitative information about the effects of the accounting change. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements. FASB ASU 2015-2, Amendments to the Consolidation Analysis . The amendments in ASU 2015-02 affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. These amendments modify the evaluation of whether limited partnerships and other similar entities are variable interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis that are involved with variable interest entities; and provide a scope exception from consolidation for entities that are required to comply or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the amendments using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A reporting entity also may apply the amendments retrospectively. The adoption of this guidance is not expected to have a material effect on the Corporations financial position or results of operations. FASB ASU 2014ā12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period ā 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 entityās 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 adoption of this guidance is not expected to have a material effect on the Corporations 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. On July 9, 2015, the FASB decided to delay, by one year, the effective dates, permitting public entities to apply this guidance to annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. |
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% . |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment | (Dollars in thousands) U.S. Treasury notes & bonds U.S. Government agency debentures U.S. States and political subdivisions Residential mortgage-backed securities - U.S. govt. agencies Commercial mortgage-backed securities - U.S. govt. agencies Residential collateralized mortgage obligations - U.S. govt. agencies Residential collateralized mortgage obligations - non-agency Commercial collateralized mortgage obligations - U.S. govt. agencies Asset backed securities - collateralized loan obligations Corporate debt securities Total Weighted Average Yield Securities Available-for-Sale Remaining maturity: One year or less $ 5,005 $ ā $ 20,063 $ 2,279 $ 15,549 $ 7,436 $ ā $ 6,322 $ ā $ ā $ 56,654 2.52 % Over one year through five years ā 2,510 75,373 808,704 65,023 1,793,341 5 150,920 ā ā 2,895,876 2.15 % Over five years through ten years ā ā 88,239 149,869 89,766 148,612 ā 71,196 258,081 ā 805,763 2.88 % Over ten years ā ā 23,942 ā ā ā ā ā ā 53,450 77,392 1.85 % Fair Value $ 5,005 $ 2,510 $ 207,617 $ 960,852 $ 170,338 $ 1,949,389 $ 5 $ 228,438 $ 258,081 $ 53,450 $ 3,835,685 2.30 % Amortized Cost $ 5,004 $ 2,500 $ 203,449 $ 947,347 $ 171,842 $ 1,968,918 $ 5 $ 227,889 $ 259,743 $ 61,681 $ 3,848,378 Weighted-Average Yield 0.27 % 1.25 % 5.14 % 2.47 % 2.05 % 1.98 % 3.36 % 1.63 % 2.97 % 1.00 % 2.30 % Weighted-Average Maturity (in years) 0.75 2.92 5.50 3.90 4.51 3.88 2.00 3.80 6.34 12.31 4.29 Securities Held-to-Maturity Remaining maturity: One year or less $ ā $ ā $ 51,848 $ ā $ 16,020 $ ā $ ā $ ā $ ā $ ā $ 67,868 2.39 % Over one year through five years ā 24,677 126,680 450,306 31,459 1,188,398 ā 172,222 ā 89,970 2,081,419 1.82 % Over five years through ten years ā ā 198,461 108,946 10,176 44,343 ā 88,000 ā ā 449,926 3.23 % Over ten years ā ā 158,614 ā ā ā ā ā ā ā 158,614 5.37 % Fair Value $ ā $ 24,677 $ 535,603 $ 559,252 $ 57,655 $ 1,232,741 $ ā $ 260,222 $ ā $ 89,970 $ 2,760,120 2.26 % Amortized Cost $ ā $ 25,000 $ 529,441 $ 555,273 $ 57,462 $ 1,267,321 $ ā $ 263,741 $ ā $ 89,275 $ 2,787,513 Weighted-Average Yield ā % 1.43 % 4.62 % 2.13 % 2.10 % 1.59 % ā % 1.87 % ā % 2.27 % 2.26 % Weighted-Average Maturity (in years) ā 4.33 9.02 4.25 3.26 3.87 ā 4.32 ā 2.53 4.64 |
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, 2015 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 5,004 $ 1 $ ā $ 5,005 U.S. government agency debentures 2,500 10 ā 2,510 U.S. states and political subdivisions 203,449 5,191 (1,023 ) 207,617 Residential mortgage-backed securities: U.S. government agencies 947,347 18,068 (4,563 ) 960,852 Commercial mortgage-backed securities: U.S. government agencies 171,842 643 (2,147 ) 170,338 Residential collateralized mortgage-backed securities: U.S. government agencies 1,968,918 4,779 (24,308 ) 1,949,389 Non-agency 5 ā ā 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 227,889 1,254 (705 ) 228,438 Asset-backed securities: Collateralized loan obligations 259,743 801 (2,463 ) 258,081 Corporate debt securities 61,681 ā (8,231 ) 53,450 Total debt securities 3,848,378 30,747 (43,440 ) 3,835,685 Equity securities Marketable equity securities 2,824 ā ā 2,824 Non-marketable equity securities ā ā ā ā Total equity securities 2,824 ā ā 2,824 Total securities available-for-sale $ 3,851,202 $ 30,747 $ (43,440 ) $ 3,838,509 Securities held-to-maturity Debt securities U.S. government agency debentures $ 25,000 $ ā $ (323 ) $ 24,677 U.S. states and political subdivisions 529,441 8,104 (1,942 ) 535,603 Residential mortgage-backed securities: U.S. government agencies 555,273 6,919 (2,940 ) 559,252 Commercial mortgage-backed securities: U.S. government agencies 57,462 412 (219 ) 57,655 Residential collateralized mortgage-backed securities: U.S. government agencies 1,267,321 445 (35,025 ) 1,232,741 Commercial collateralized mortgage-backed securities: U.S. government agencies 263,741 1,004 (4,523 ) 260,222 Corporate debt securities 89,275 695 ā 89,970 Total securities held-to-maturity $ 2,787,513 $ 17,579 $ (44,972 ) $ 2,760,120 December 31, 2014 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. government agency debentures $ 2,500 $ ā $ (18 ) $ 2,482 U.S. states and political subdivisions 221,052 6,756 (466 ) 227,342 Residential mortgage-backed securities: U.S. government agencies 951,839 22,377 (3,218 ) 970,998 Commercial mortgage-backed securities: U.S. government agencies 104,176 598 (1,371 ) 103,403 Residential collateralized mortgage-backed securities: U.S. government agencies 1,698,015 4,777 (26,225 ) 1,676,567 Non-agency 7 ā ā 7 Commercial collateralized mortgage-backed securities: U.S. government agencies 222,876 863 (1,405 ) 222,334 Asset-backed securities: Collateralized loan obligations 297,446 11 (9,613 ) 287,844 Corporate debt securities 61,652 ā (10,315 ) 51,337 Total debt securities 3,559,563 35,382 (52,631 ) 3,542,314 Equity securities Marketable equity securities 2,974 ā ā 2,974 Total equity securities 2,974 ā ā 2,974 Total securities available-for-sale $ 3,562,537 $ 35,382 $ (52,631 ) $ 3,545,288 Securities held-to-maturity Debt securities U.S. treasury notes & bonds $ 5,000 $ ā $ ā $ 5,000 U.S. government agency debentures 25,000 ā (537 ) 24,463 U.S. states and political subdivisions 517,824 12,645 (191 ) 530,278 Residential mortgage-backed securities: U.S. government agencies 580,727 7,495 (3,045 ) 585,177 Commercial mortgage-backed securities: U.S. government agencies 58,143 281 (329 ) 58,095 Residential collateralized mortgage-backed securities: U.S. government agencies 1,368,534 718 (38,875 ) 1,330,377 Commercial collateralized mortgage-backed securities: U.S. government agencies 257,642 557 (6,768 ) 251,431 Corporate debt securities 90,739 412 (52 ) 91,099 Total securities held-to-maturity $ 2,903,609 $ 22,108 $ (49,797 ) $ 2,875,920 June 30, 2014 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair 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 ā ā 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 ā (8,134 ) 53,490 Total debt securities 3,487,784 40,816 (56,396 ) 3,472,204 Equity Securities Marketable equity securities 2,935 ā ā 2,935 Non-marketable equity securities 3,281 ā ā 3,281 Total equity securities 6,216 ā ā 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. treasury notes & bonds $ 5,000 $ 5 $ ā $ 5,005 U.S. government agency debentures 25,000 ā (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 ā 92,958 Total securities held-to-maturity $ 3,052,118 $ 18,601 $ (68,853 ) $ 3,001,866 |
Investments Classified by Contractual Maturity Date | (Dollars in thousands) U.S. Treasury notes & bonds U.S. Government agency debentures U.S. States and political subdivisions Residential mortgage-backed securities - U.S. govt. agencies Commercial mortgage-backed securities - U.S. govt. agencies Residential collateralized mortgage obligations - U.S. govt. agencies Residential collateralized mortgage obligations - non-agency Commercial collateralized mortgage obligations - U.S. govt. agencies Asset backed securities - collateralized loan obligations Corporate debt securities Total Weighted Average Yield Securities Available-for-Sale Remaining maturity: One year or less $ 5,005 $ ā $ 20,063 $ 2,279 $ 15,549 $ 7,436 $ ā $ 6,322 $ ā $ ā $ 56,654 2.52 % Over one year through five years ā 2,510 75,373 808,704 65,023 1,793,341 5 150,920 ā ā 2,895,876 2.15 % Over five years through ten years ā ā 88,239 149,869 89,766 148,612 ā 71,196 258,081 ā 805,763 2.88 % Over ten years ā ā 23,942 ā ā ā ā ā ā 53,450 77,392 1.85 % Fair Value $ 5,005 $ 2,510 $ 207,617 $ 960,852 $ 170,338 $ 1,949,389 $ 5 $ 228,438 $ 258,081 $ 53,450 $ 3,835,685 2.30 % Amortized Cost $ 5,004 $ 2,500 $ 203,449 $ 947,347 $ 171,842 $ 1,968,918 $ 5 $ 227,889 $ 259,743 $ 61,681 $ 3,848,378 Weighted-Average Yield 0.27 % 1.25 % 5.14 % 2.47 % 2.05 % 1.98 % 3.36 % 1.63 % 2.97 % 1.00 % 2.30 % Weighted-Average Maturity (in years) 0.75 2.92 5.50 3.90 4.51 3.88 2.00 3.80 6.34 12.31 4.29 Securities Held-to-Maturity Remaining maturity: One year or less $ ā $ ā $ 51,848 $ ā $ 16,020 $ ā $ ā $ ā $ ā $ ā $ 67,868 2.39 % Over one year through five years ā 24,677 126,680 450,306 31,459 1,188,398 ā 172,222 ā 89,970 2,081,419 1.82 % Over five years through ten years ā ā 198,461 108,946 10,176 44,343 ā 88,000 ā ā 449,926 3.23 % Over ten years ā ā 158,614 ā ā ā ā ā ā ā 158,614 5.37 % Fair Value $ ā $ 24,677 $ 535,603 $ 559,252 $ 57,655 $ 1,232,741 $ ā $ 260,222 $ ā $ 89,970 $ 2,760,120 2.26 % Amortized Cost $ ā $ 25,000 $ 529,441 $ 555,273 $ 57,462 $ 1,267,321 $ ā $ 263,741 $ ā $ 89,275 $ 2,787,513 Weighted-Average Yield ā % 1.43 % 4.62 % 2.13 % 2.10 % 1.59 % ā % 1.87 % ā % 2.27 % 2.26 % Weighted-Average Maturity (in years) ā 4.33 9.02 4.25 3.26 3.87 ā 4.32 ā 2.53 4.64 |
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-seven U.S. states in which it holds investments. (Dollars in thousands) June 30, 2015 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Ohio 127 $ 964 $ 121,716 $ 122,474 Michigan 153 1,018 152,499 155,712 Illinois 60 1,784 105,581 107,033 Wisconsin 70 585 39,774 40,950 Texas 67 759 50,370 50,877 Pennsylvania 46 1,014 46,547 46,666 Minnesota 34 692 23,267 23,540 Washington 30 939 27,783 28,169 New Jersey 34 720 23,916 24,472 Missouri 15 1,084 15,981 16,265 New York 18 633 11,187 11,392 Other 119 639 75,670 76,040 Total general obligation bonds 773 $ 910 $ 694,291 $ 703,590 (Dollars in thousands) December 31, 2014 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Ohio 137 $ 979 $ 130,741 $ 134,127 Michigan 169 842 138,325 142,292 Illinois 66 1,897 121,560 125,169 Wisconsin 77 841 62,543 64,776 Texas 64 801 50,307 51,293 Pennsylvania 45 1,000 44,443 45,006 Minnesota 42 674 27,740 28,326 Washington 30 952 27,987 28,558 New Jersey 37 746 26,755 27,612 Missouri 19 1,011 18,764 19,207 New York 19 628 11,659 11,929 Other 120 650 76,849 78,020 Total general obligation bonds 825 $ 917 $ 737,673 $ 756,315 (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 Illinois 74 1,578 113,501 116,741 Texas 65 794 50,845 51,632 Pennsylvania 49 972 47,870 47,623 Wisconsin 87 864 72,616 75,155 Minnesota 42 678 27,864 28,468 New Jersey 37 751 26,815 27,805 Michigan 174 862 146,565 150,052 Washington 30 955 28,191 28,660 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 |
Other investments | FRB and FHLB stock constitutes the majority of other investments on the Consolidated Balance Sheets. (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 FRB stock $ 55,853 $ 55,681 $ 55,435 FHLB stock 91,713 92,547 92,547 Other 401 426 451 Total other investments $ 147,967 $ 148,654 $ 148,433 |
Realized Gains and Losses | Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Realized gains $ 672 $ 80 $ 1,064 $ 300 Realized losses (105 ) ā (143 ) (164 ) Net securities (losses)/gains $ 567 $ 80 $ 921 $ 136 |
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, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. states and political subdivisions $ 32,237 $ (587 ) 52 $ 5,642 $ (436 ) 9 $ 37,879 $ (1,023 ) Residential mortgage-backed securities: U.S. government agencies 196,219 (2,087 ) 15 103,498 (2,476 ) 8 299,717 (4,563 ) Commercial mortgage-backed securities: U.S. government agencies 96,573 (1,457 ) 14 17,335 (690 ) 2 113,908 (2,147 ) Residential collateralized mortgage-backed securities: U.S. government agencies 596,646 (4,398 ) 42 706,376 (19,910 ) 53 1,303,022 (24,308 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 46,771 (71 ) 5 61,120 (634 ) 7 107,891 (705 ) Asset-backed securities: Collateralized loan obligations 84,565 (1,204 ) 10 86,082 (1,259 ) 11 170,647 (2,463 ) Corporate debt securities 4,225 (765 ) 1 49,225 (7,466 ) 7 53,450 (8,231 ) Total securities available-for-sale $ 1,057,236 $ (10,569 ) 139 $ 1,029,278 $ (32,871 ) 97 $ 2,086,514 $ (43,440 ) Securities held-to-maturity Debt securities U.S. government agency debentures $ ā $ ā ā $ 24,677 $ (323 ) 1 $ 24,677 $ (323 ) U.S. states and political subdivisions 98,867 (1,872 ) 112 4,430 (70 ) 6 103,297 (1,942 ) Residential mortgage-backed securities: U.S. government agencies 83,112 (483 ) 5 105,289 (2,457 ) 6 188,401 (2,940 ) Commercial mortgage-backed securities: U.S. government agencies 7,263 (41 ) 1 9,430 (178 ) 1 16,693 (219 ) Residential collateralized mortgage-backed securities: U.S. government agencies 111,360 (835 ) 8 1,042,351 (34,190 ) 56 1,153,711 (35,025 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 5,025 (2 ) 1 142,937 (4,521 ) 13 147,962 (4,523 ) Total securities held-to-maturity $ 305,627 $ (3,233 ) 127 $ 1,329,114 $ (41,739 ) 83 $ 1,634,741 $ (44,972 ) December 31, 2014 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. government agency debentures $ 2,482 $ (18 ) 1 $ ā $ ā ā $ 2,482 $ (18 ) U.S. states and political subdivisions 5,637 (11 ) 11 22,528 (455 ) 36 28,165 (466 ) Residential mortgage-backed securities: U.S. government agencies 50,126 (182 ) 5 199,773 (3,036 ) 14 249,899 (3,218 ) Commercial mortgage-backed securities: U.S. government agencies 12,284 (55 ) 2 45,485 (1,316 ) 6 57,769 (1,371 ) Residential collateralized mortgage-backed securities: U.S. government agencies 243,970 (906 ) 15 905,478 (25,319 ) 64 1,149,448 (26,225 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 31,375 (229 ) 4 67,169 (1,176 ) 7 98,544 (1,405 ) Asset-backed securities: Collateralized loan obligations 79,042 (1,406 ) 15 193,687 (8,207 ) 27 272,729 (9,613 ) Corporate debt securities ā ā ā 51,338 (10,315 ) 8 51,338 (10,315 ) Total securities available-for-sale $ 424,916 $ (2,807 ) 53 $ 1,485,458 $ (49,824 ) 162 $ 1,910,374 $ (52,631 ) Securities held-to-maturity Debt securities U.S. government agency debentures $ ā $ ā ā $ 24,463 $ (537 ) 1 $ 24,463 $ (537 ) U.S. states and political subdivisions 9,085 (17 ) 9 18,371 (174 ) 21 27,456 (191 ) Residential mortgage-backed securities: U.S. government agencies ā ā ā 185,361 (3,045 ) 10 185,361 (3,045 ) Commercial mortgage-backed securities: U.S. government agencies 9,950 (4 ) 2 16,735 (325 ) 2 26,685 (329 ) Residential collateralized mortgage-backed securities: U.S. government agencies 28,333 (149 ) 3 1,161,297 (38,726 ) 58 1,189,630 (38,875 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 41,474 (55 ) 3 171,570 (6,713 ) 16 213,044 (6,768 ) Corporate debt securities 36,933 (52 ) 13 ā ā ā 36,933 (52 ) Total securities held-to-maturity $ 125,775 $ (277 ) 30 $ 1,577,797 $ (49,520 ) 108 $ 1,703,572 $ (49,797 ) June 30, 2014 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses 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 ) 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 ā ā ā 53,490 (8,134 ) 8 53,490 (8,134 ) Total securities available-for-sale $ 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 $ ā $ ā ā $ 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 ā ā ā 206,911 (4,933 ) 11 206,911 (4,933 ) Commercial mortgage-backed securities: U.S. government agencies ā ā ā 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 ā ā ā 183,957 (7,252 ) 17 183,957 (7,252 ) Corporate debt securities ā ā ā ā ā ā ā ā Total securities held-to-maturity $ 187,242 $ (1,434 ) 64 $ 1,747,578 $ (67,419 ) 182 $ 1,934,820 $ (68,853 ) |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans outstanding as of June 30, 2015 , December 31, 2014 , and June 30, 2014 , net of unearned income, consisted of the following: (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 Originated loans: Commercial $ 8,196,630 $ 7,830,085 $ 7,365,499 Residential mortgage 653,143 625,283 580,166 Installment 2,720,059 2,393,451 2,051,587 Home equity 1,180,802 1,110,336 998,179 Credit cards 168,576 164,478 151,967 Leases 436,702 370,179 319,795 Total originated loans 13,355,912 12,493,812 11,467,193 Allowance for originated loan losses (101,682 ) (95,696 ) (91,950 ) Net originated loans $ 13,254,230 $ 12,398,116 $ 11,375,243 Acquired loans: Commercial $ 877,598 $ 1,086,899 $ 1,457,903 Residential mortgage 358,559 394,484 425,584 Installment 659,348 764,168 872,034 Home equity 200,179 233,629 268,266 Total acquired loans 2,095,684 2,479,180 3,023,787 Allowance for acquired loan losses (4,950 ) (7,457 ) (4,977 ) Net acquired loans $ 2,090,734 $ 2,471,723 $ 3,018,810 FDIC acquired loans: Commercial $ 145,821 $ 211,607 $ 292,782 Residential mortgage 38,029 41,276 46,705 Installment 2,299 4,874 5,364 Home equity 55,545 73,365 89,815 Loss share receivable 11,820 22,033 43,981 Total FDIC acquired loans 253,514 353,155 478,647 Allowance for FDIC acquired loan losses (41,627 ) (40,496 ) (45,109 ) Net FDIC acquired loans $ 211,887 $ 312,659 $ 433,538 Total loans: Commercial $ 9,220,049 $ 9,128,591 $ 9,116,184 Residential mortgage 1,049,731 1,061,043 1,052,455 Installment 3,381,706 3,162,493 2,928,985 Home equity 1,436,526 1,417,330 1,356,260 Credit cards 168,576 164,478 151,967 Leases 436,702 370,179 319,795 Loss share receivable 11,820 22,033 43,981 Total loans 15,705,110 15,326,147 14,969,627 Total allowance for loan losses (148,259 ) (143,649 ) (142,036 ) Total Net loans $ 15,556,851 $ 15,182,498 $ 14,827,591 |
Changes in Carrying Amount of Accretable Yield for Acquired Impaired Loans | Total outstanding acquired impaired loans as of June 30, 2015 and 2014 were $504.7 million and $714.2 million , 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, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, Acquired Impaired Loans 2015 2014 2015 2014 (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 $ 118,756 $ 388,313 $ 142,284 $ 557,199 $ 119,450 $ 423,209 $ 136,646 $ 601,000 Accretion (10,285 ) 10,285 (12,746 ) 12,746 (21,503 ) 21,503 (24,487 ) 24,487 Net reclassifications from nonaccretable to accretable 8,217 ā 10,499 ā 21,212 ā 30,013 ā Payments received, net ā (42,434 ) ā (50,695 ) ā (88,548 ) ā (106,237 ) Disposals (4,657 ) ā (2,595 ) ā (7,128 ) ā (4,730 ) ā Balance at end of period $ 112,031 $ 356,164 $ 137,442 $ 519,250 $ 112,031 $ 356,164 $ 137,442 $ 519,250 |
Changes in Loss Share Receivable Associated with Covered Loans | Changes in the loss share receivable for the three and six months ended June 30, 2015 and 2014 were as follows: Loss Share Receivable Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of period $ 20,005 $ 54,748 $ 22,033 $ 61,827 Amortization (1,185 ) (4,185 ) (3,372 ) (10,048 ) Increase/(decrease) due to impairment (recapture) on FDIC acquired loans 1,819 (3,897 ) 6,046 927 FDIC reimbursement (8,713 ) (1,237 ) (12,726 ) (6,324 ) FDIC acquired loans paid in full (106 ) (1,448 ) (161 ) (2,401 ) Balance at end of the period (1) $ 11,820 $ 43,981 $ 11,820 $ 43,981 (1) As of June 30, 2015 , the loss share receivable of $11.8 million was related to single family covered loans. |
Changes in Carrying Amount of Accretable Yield for Covered Impaired Loans | Total outstanding FDIC acquired impaired loans were $351.1 million and $637.6 million as of June 30, 2015 and 2014 , 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 FDIC acquired impaired loans were as follows for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, FDIC Acquired Impaired Loans 2015 2014 2015 2014 (In thousands) Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Balance at beginning of period $ 29,867 $ 199,225 $ 63,003 $ 364,488 $ 37,511 $ 232,452 $ 67,282 $ 403,692 Accretion (4,100 ) 4,100 (12,139 ) 12,139 (9,667 ) 9,667 (24,755 ) 24,755 Net reclassifications between non-accretable and accretable 2,136 ā 5,549 ā 2,080 ā 11,606 ā Payments received, net ā (45,517 ) ā (60,146 ) ā (84,311 ) ā (111,966 ) (Disposals)/Additions (1,753 ) ā (2,758 ) ā (3,774 ) ā (478 ) ā Balance at end of period $ 26,150 $ 157,808 $ 53,655 $ 316,481 $ 26,150 $ 157,808 $ 53,655 $ 316,481 The cash flows expected to be collected on covered impaired loans are estimated quarterly in a similar manner as described above for acquired impaired loans. During the quarter ended June 30, 2015 , the re-estimation process resulted in a net reclassification of $2.1 million from accretable yield to nonaccretable difference. This reclassification results in prospective yield adjustments on the loan pools. |
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, 2015 (In thousands) ā„ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 5,837 $ 1,949 $ 3,780 $ 11,566 $ 5,459,797 $ 5,471,363 $ ā $ 29,241 CRE 3,758 119 2,780 6,657 2,131,715 2,138,372 418 7,486 Construction 483 ā ā 483 586,412 586,895 ā ā Leases 17,862 ā ā 17,862 418,840 436,702 ā 1,162 Consumer Installment 11,526 3,010 4,191 18,727 2,701,332 2,720,059 3,386 2,903 Home Equity Lines 2,268 720 1,032 4,020 1,176,782 1,180,802 249 1,591 Credit Cards 679 338 558 1,575 167,001 168,576 337 459 Residential Mortgages 9,792 1,935 7,595 19,322 633,821 653,143 3,619 12,300 Total $ 52,205 $ 8,071 $ 19,936 $ 80,212 $ 13,275,700 $ 13,355,912 $ 8,009 $ 55,142 Acquired Loans ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 33 $ 99 $ 3,279 $ 3,411 $ 334,012 $ 337,423 $ ā $ 661 CRE 3,353 3,115 17,473 23,941 510,004 533,945 ā 5,545 Construction ā ā 694 694 5,536 6,230 ā ā Consumer Installment 3,999 1,029 1,083 6,111 653,237 659,348 475 671 Home Equity Lines 2,349 785 1,353 4,487 195,692 200,179 762 246 Residential Mortgages 186 1,173 4,902 6,261 352,298 358,559 411 929 Total $ 9,920 $ 6,201 $ 28,784 $ 44,905 $ 2,050,779 $ 2,095,684 $ 1,648 $ 8,052 FDIC Acquired Loans (2) ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ ā $ ā $ 2,916 $ 2,916 $ 35,221 $ 38,137 n/a n/a CRE 664 1,959 32,076 34,699 67,110 101,809 n/a n/a Construction ā ā 3,701 3,701 2,174 5,875 n/a n/a Consumer Installment ā ā ā ā 2,299 2,299 n/a n/a Home Equity Lines 1,256 246 3,454 4,956 50,589 55,545 n/a n/a Residential Mortgages 5,391 319 2,961 8,671 29,358 38,029 n/a n/a Total $ 7,311 $ 2,524 $ 45,108 $ 54,943 $ 186,751 $ 241,694 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.7 million of loans guaranteed by the U.S. government as of June 30, 2015 . (2) Excludes loss share receivable of $11.8 million as of June 30, 2015 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at June 30, 2015 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 FDIC Acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of December 31, 2014 (In thousands) ā„ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 2,212 $ 1,162 $ 2,670 $ 6,044 $ 5,169,157 $ 5,175,201 $ 1,547 $ 6,114 CRE 2,155 1,460 8,864 12,479 2,104,639 2,117,118 1,696 11,033 Construction ā ā ā ā 537,766 537,766 ā ā Leases ā ā ā ā 370,179 370,179 ā ā Consumer Installment 14,621 3,647 4,716 22,984 2,370,467 2,393,451 3,695 3,268 Home Equity Lines 1,357 587 1,206 3,150 1,107,186 1,110,336 569 1,654 Credit Cards 668 516 860 2,044 162,434 164,478 407 596 Residential Mortgages 12,086 2,744 8,013 22,843 602,440 625,283 4,242 11,952 Total $ 33,099 $ 10,116 $ 26,329 $ 69,544 $ 12,424,268 $ 12,493,812 $ 12,156 $ 34,617 Acquired Loans ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 92 $ 234 $ 4,791 $ 5,117 $ 444,137 $ 449,254 $ ā $ 787 CRE 3,479 3,398 23,509 30,386 600,288 630,674 44 4,171 Construction ā ā 685 685 6,286 6,971 ā ā Consumer Installment 6,204 2,029 1,861 10,094 754,074 764,168 615 1,218 Home Equity Lines 2,819 2,123 2,333 7,275 226,354 233,629 1,519 631 Residential Mortgages 13,062 1,648 7,089 21,799 372,685 394,484 1,293 1,249 Total $ 25,656 $ 9,432 $ 40,268 $ 75,356 $ 2,403,824 $ 2,479,180 $ 3,471 $ 8,056 FDIC Acquired Loans (2) ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 58 $ ā $ 6,041 $ 6,099 $ 42,738 $ 48,837 n/a n/a CRE 234 1,517 47,233 48,984 104,524 153,508 n/a n/a Construction ā ā 6,064 6,064 3,198 9,262 n/a n/a Consumer Installment 23 ā 34 57 4,817 4,874 n/a n/a Home Equity Lines 1,395 870 3,859 6,124 67,241 73,365 n/a n/a Residential Mortgages 6,205 91 3,572 9,868 31,408 41,276 n/a n/a Total $ 7,915 $ 2,478 $ 66,803 $ 77,196 $ 253,926 $ 331,122 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.4 million of loans guaranteed by the U.S. government as of December 31, 2014 . (2) Excludes loss share receivable of $22.0 million as of December 31, 2014 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at December 31, 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 FDIC Acquired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of June 30, 2014 (In thousands) ā„ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (1) 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 ā ā ā ā 409,866 409,866 ā 53 Leases 103 ā ā 103 319,692 319,795 ā ā 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 ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) 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 ā 1,736 Construction ā ā 666 666 13,233 13,899 ā ā 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 FDIC Acquired Loans (2) ā„ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ā„ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 2,929 $ ā $ 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 ā ā 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 (1) 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 . (2) Excludes loss share receivable of $44.0 million as of June 30, 2014 . (3) Acquired and FDIC acquired 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 FDIC Acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired 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, 2015 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 65,856 $ 807 $ ā $ 14,688 $ 81,351 Grade 2 206,384 1,166 ā 29,564 237,114 Grade 3 1,417,295 367,457 55,889 65,664 1,906,305 Grade 4 3,567,387 1,715,998 529,517 321,268 6,134,170 Grade 5 98,137 25,466 360 2,956 126,919 Grade 6 112,661 27,478 1,129 2,562 143,830 Grade 7 3,643 ā ā ā 3,643 Total $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 8,633,332 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 1,061 $ ā $ ā $ ā $ 1,061 Grade 2 ā ā ā ā ā Grade 3 17,338 27,190 ā ā 44,528 Grade 4 289,027 453,830 5,536 ā 748,393 Grade 5 13,283 16,815 ā ā 30,098 Grade 6 16,714 36,110 694 ā 53,518 Grade 7 ā ā ā ā ā Total $ 337,423 $ 533,945 $ 6,230 $ ā $ 877,598 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ ā $ ā $ ā $ ā $ ā Grade 2 1,129 ā ā ā 1,129 Grade 3 ā ā ā ā ā Grade 4 33,992 65,906 817 ā 100,715 Grade 5 ā 625 ā ā 625 Grade 6 3,016 35,278 5,058 ā 43,352 Grade 7 ā ā ā ā ā Total $ 38,137 $ 101,809 $ 5,875 $ ā $ 145,821 As of December 31, 2014 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 52,676 $ 683 $ 678 $ 4,451 $ 58,488 Grade 2 186,278 3,454 ā 14,959 204,691 Grade 3 1,340,100 294,281 46,074 71,908 1,752,363 Grade 4 3,413,446 1,745,470 490,757 277,277 5,926,950 Grade 5 139,083 29,990 257 1,389 170,719 Grade 6 43,618 43,240 ā 195 87,053 Grade 7 ā ā ā ā ā Total $ 5,175,201 $ 2,117,118 $ 537,766 $ 370,179 $ 8,200,264 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 1,076 $ ā $ ā $ ā $ 1,076 Grade 2 ā ā ā ā ā Grade 3 20,891 24,867 ā ā 45,758 Grade 4 376,129 532,447 6,286 ā 914,862 Grade 5 23,268 28,382 685 ā 52,335 Grade 6 27,890 44,978 ā ā 72,868 Grade 7 ā ā ā ā ā Total $ 449,254 $ 630,674 $ 6,971 $ ā $ 1,086,899 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ ā $ ā $ ā $ ā $ ā Grade 2 1,347 ā ā ā 1,347 Grade 3 ā ā ā ā ā Grade 4 36,406 86,779 823 ā 124,008 Grade 5 167 3,401 ā ā 3,568 Grade 6 10,917 63,328 8,248 ā 82,493 Grade 7 ā ā 191 ā 191 Total $ 48,837 $ 153,508 $ 9,262 $ ā $ 211,607 As of June 30, 2014 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 33,855 $ ā $ ā $ 9,408 $ 43,263 Grade 2 134,682 3,610 ā 10,971 149,263 Grade 3 1,100,807 290,652 36,954 55,648 1,484,061 Grade 4 3,439,210 1,725,808 371,488 236,324 5,772,830 Grade 5 100,776 29,382 ā 7,092 137,250 Grade 6 48,285 48,566 1,424 352 98,627 Grade 7 ā ā ā ā ā Total $ 4,857,615 $ 2,098,018 $ 409,866 $ 319,795 $ 7,685,294 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 700 $ ā $ ā $ ā $ 700 Grade 2 ā ā ā ā ā Grade 3 35,608 26,652 ā ā 62,260 Grade 4 553,293 651,011 13,899 ā 1,218,203 Grade 5 41,213 50,267 ā ā 91,480 Grade 6 29,447 55,813 ā ā 85,260 Grade 7 ā ā ā ā ā Total $ 660,261 $ 783,743 $ 13,899 $ ā $ 1,457,903 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ ā $ ā $ ā $ ā $ ā Grade 2 1,015 ā ā ā 1,015 Grade 3 ā ā ā ā ā Grade 4 38,892 104,455 707 ā 144,054 Grade 5 999 3,984 ā ā 4,983 Grade 6 15,517 108,637 18,045 ā 142,199 Grade 7 ā 180 349 ā 529 Total $ 56,423 $ 217,256 $ 19,101 $ ā $ 292,780 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [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, 2015 and 2014 , as well as the corresponding recorded investment in originated loans at the end of the period: As of June 30, 2015 (In thousands) 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 $ 39,838 $ 8,813 $ 1,752 $ 629 $ 13,358 $ 19,433 $ 7,801 $ 5,921 $ 97,545 Charge-offs (3,247 ) (408 ) ā ā (5,090 ) (971 ) (1,209 ) (373 ) (11,298 ) Recoveries 453 1 39 3 2,844 839 358 89 4,626 Provision for loan losses 5,832 94 (251 ) (13 ) 3,798 738 868 (257 ) 10,809 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Six Months Ended Allowance for originated loan losses, beginning balance $ 37,375 $ 10,492 $ 2,202 $ 674 $ 12,918 $ 19,324 $ 7,966 $ 4,745 $ 95,696 Charge-offs (3,757 ) (623 ) ā ā (10,145 ) (1,882 ) (2,661 ) (797 ) (19,865 ) Recoveries 794 1 40 7 5,864 1,452 724 124 9,006 Provision for loan losses 8,464 (1,370 ) (702 ) (62 ) 6,273 1,145 1,789 1,308 16,845 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 9,117 $ 151 $ ā $ ā $ 1,001 $ 217 $ 250 $ 890 $ 11,626 Collectively evaluated for impairment 33,759 8,349 1,540 619 13,909 19,822 7,568 4,490 90,056 Total ending allowance for originated loan losses balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Originated loans: Originated loans individually evaluated for impairment $ 45,969 $ 12,072 $ ā $ 1,162 $ 31,927 $ 7,421 $ 787 $ 24,697 $ 124,035 Originated loans collectively evaluated for impairment 5,425,394 2,126,300 586,895 435,540 2,688,132 1,173,381 167,789 628,446 13,231,877 Total ending originated loan balance $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 2,720,059 $ 1,180,802 $ 168,576 $ 653,143 $ 13,355,912 As of June 30, 2014 (In thousands) 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 ) ā ā (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 ) ā ā (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 $ ā $ 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 $ ā $ 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 The following table presents the originated ALL and the recorded investment as of December 31, 2014 : As of December 31, 2014 (In thousands) 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 $ 72 $ 2,914 $ ā $ ā $ 1,178 $ 207 $ 296 $ 1,283 $ 5,950 Collectively evaluated for impairment 37,303 7,578 2,202 674 11,740 19,117 7,670 3,462 89,746 Total ending allowance for originated loan losses balance $ 37,375 $ 10,492 $ 2,202 $ 674 $ 12,918 $ 19,324 $ 7,966 $ 4,745 $ 95,696 Originated loans: Loans individually evaluated for impairment $ 11,759 $ 23,300 $ ā $ ā $ 24,905 $ 7,379 $ 854 $ 25,251 $ 93,448 Loans collectively evaluated for impairment 5,163,442 2,093,818 537,766 370,179 2,368,546 1,102,957 163,624 600,032 12,400,364 Total ending originated loan balance $ 5,175,201 $ 2,117,118 $ 537,766 $ 370,179 $ 2,393,451 $ 1,110,336 $ 164,478 $ 625,283 $ 12,493,812 |
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, 2015 and 2014 : Allowance for Acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of the period $ 7,493 $ 2,974 $ 7,457 $ 741 Charge-offs ā ā ā ā Recoveries ā ā ā ā Provision/(recapture) for loan losses (2,543 ) 2,003 (2,507 ) 4,236 Balance at end of the period $ 4,950 $ 4,977 $ 4,950 $ 4,977 |
Schedule of Credit Losses for Financing Receivables, Current | The following table presents activity in the allowance for FDIC acquired impaired loan losses for the three and six months ended June 30, 2015 and 2014 : Allowance for FDIC acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of the period $ 41,514 $ 49,970 $ 40,496 $ 44,027 Net provision/(recapture) of loan losses before benefit attributable to FDIC loss share agreements 928 (451 ) 5,153 7,428 Net (benefit)/recapture attributable to FDIC loss share agreements (1,819 ) 3,897 (6,046 ) (927 ) Net (recapture)/provision for loan losses (891 ) 3,446 (893 ) 6,501 Increase/(decrease) in loss share receivable 1,819 (3,897 ) 6,046 927 Loans charged-off (815 ) (4,410 ) (4,022 ) (6,346 ) Balance at end of the period $ 41,627 $ 45,109 $ 41,627 $ 45,109 |
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, 2015 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 28,076 $ 37,358 $ ā $ 27,238 CRE 11,482 17,585 ā 12,983 Construction ā ā ā ā Leases 1,162 1,162 ā 598 Consumer Installment 1,678 2,183 ā 1,753 Home equity line 884 1,132 ā 906 Credit card 19 19 ā 26 Residential mortgages 12,047 14,700 ā 12,146 Subtotal 55,348 74,139 ā 55,650 Impaired loans with a related allowance Commercial C&I 17,893 18,062 9,117 7,199 CRE 590 593 151 600 Construction ā ā ā ā Leases ā ā ā ā Consumer Installment 30,249 30,302 1,001 25,722 Home equity line 6,537 6,537 217 6,684 Credit card 768 768 250 823 Residential mortgages 12,650 12,739 890 12,675 Subtotal 68,687 69,001 11,626 53,703 Total impaired loans $ 124,035 $ 143,140 $ 11,626 $ 109,353 Note 1: These tables exclude loans fully charged off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. As of December 31, 2014 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 11,451 $ 18,207 $ ā $ 14,193 CRE 16,874 22,696 ā 18,027 Construction ā ā ā ā Consumer Installment 4,460 4,584 ā 4,272 Home equity line 1,723 1,754 ā 1,792 Credit card 16 16 ā 32 Residential mortgages 12,204 15,119 ā 12,425 Subtotal 46,728 62,376 ā 50,741 Impaired loans with a related allowance Commercial C&I 308 344 72 326 CRE 6,426 6,440 2,914 4,497 Construction ā ā ā ā Consumer Installment 20,445 21,024 1,178 19,513 Home equity line 5,656 5,875 207 5,944 Credit card 838 838 296 966 Residential mortgages 13,047 13,158 1,283 13,121 Subtotal 46,720 47,679 5,950 44,367 Total impaired loans $ 93,448 $ 110,055 $ 5,950 $ 95,108 Note 1: These tables exclude loans fully charged off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. 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 $ ā $ 3,543 CRE 20,635 26,026 ā 22,249 Construction 53 76 ā 256 Consumer Installment 4,510 4,620 ā 4,636 Home equity line 1,041 1,047 ā 1,067 Credit card 34 34 ā 48 Residential mortgages 12,729 15,748 ā 12,828 Subtotal 41,540 52,531 ā 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 ā ā 9 ā 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 represent 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, 2015 , December 31, 2014 , and June 30, 2014 . As of June 30, 2015 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 56 $ 29,454 $ 36,538 CRE 69 10,362 15,681 Construction 31 ā ā Total originated commercial 156 39,816 52,219 Consumer Installment 1,215 31,927 32,485 Home equity lines 271 7,421 7,669 Credit card 231 787 787 Residential mortgages 316 24,697 27,439 Total originated consumer 2,033 64,832 68,380 Total originated loans 2,189 $ 104,648 $ 120,599 Acquired loans Commercial C&I 2 $ ā $ 55 CRE 3 930 1,018 Total acquired commercial 5 930 1,073 Consumer Installment 50 1,144 1,227 Home equity lines 174 7,138 7,205 Residential mortgages 31 2,150 2,386 Total acquired consumer 255 10,432 10,818 Total acquired loans 260 $ 11,362 $ 11,891 FDIC acquired loans Commercial C&I 8 $ ā $ 1,299 CRE 24 11,704 27,933 Construction 9 525 9,542 Total FDIC acquired commercial 41 12,229 38,774 Consumer Home equity lines 77 10,563 10,739 Residential mortgages 1 184 184 Total FDIC acquired consumer 78 10,747 10,923 Total FDIC acquired loans 119 $ 22,976 $ 49,697 Total loans Commercial C&I 66 $ 29,454 $ 37,892 CRE 96 22,996 44,632 Construction 40 525 9,542 Total commercial 202 52,975 92,066 Consumer Installment 1,265 33,071 33,712 Home equity lines 522 25,122 25,613 Credit card 231 787 787 Residential mortgages 348 27,031 30,009 Total consumer 2,366 86,011 90,121 Total loans 2,568 $ 138,986 $ 182,187 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs and remaining purchase discount. As of December 31, 2014 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 41 $ 7,123 $ 13,887 CRE 67 17,607 22,645 Construction 31 ā ā Total originated commercial 139 24,730 36,532 Consumer Installment 1,205 24,905 25,608 Home equity lines 270 7,379 7,629 Credit card 238 854 854 Residential mortgages 315 25,251 28,277 Total originated consumer 2,028 58,389 62,368 Total originated loans 2,167 $ 83,119 $ 98,900 Acquired loans Commercial C&I 2 18 19 CRE 3 2,542 2,595 Total acquired commercial 5 2,560 2,614 Consumer Installment 40 975 1,054 Home equity lines 145 6,932 6,983 Residential mortgages 26 1,633 1,823 Total acquired consumer 211 9,540 9,860 Total acquired loans 216 $ 12,100 $ 12,474 FDIC acquired loans Commercial C&I 8 $ 177 $ 1,589 CRE 24 25,499 42,226 Construction 9 339 9,552 Total FDIC acquired commercial 41 26,015 53,367 Consumer Home equity lines 68 8,890 8,901 Residential Mortgages 2 334 334 Total FDIC acquired consumer 70 9,224 9,235 Total FDIC acquired loans 111 $ 35,239 $ 62,602 Total loans Commercial C&I 51 $ 7,318 $ 15,495 CRE 94 45,648 67,466 Construction 40 339 9,552 Total commercial 185 53,305 92,513 Consumer Installment 1,245 25,880 26,662 Home equity lines 483 23,201 23,513 Credit card 238 854 854 Residential mortgages 343 27,218 30,434 Total consumer 2,309 77,153 81,463 Total loans 2,494 $ 130,458 $ 173,976 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs and remaining purchase discount. 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 FDIC acquired loans Commercial C&I 6 $ 177 $ 1,070 CRE 24 37,385 54,480 Construction 10 2,605 21,331 Total FDIC acquired commercial 40 40,167 76,881 Consumer Home equity lines 62 8,489 8,489 Residential mortgages 2 337 337 Total FDIC acquired consumer 64 8,826 8,826 Total FDIC acquired 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 |
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, 2015 , December 31, 2014 , and June 30, 2014 , including TDRs that continue to accrue interest and TDRs included in nonperforming assets. As of June 30, 2015 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 17,346 $ ā $ 17,346 $ 9,260 $ 2,848 $ 12,108 $ 29,454 $ 2,893 CRE 5,968 ā 5,968 1,598 2,796 4,394 10,362 63 Construction ā ā ā ā ā ā ā ā Total originated commercial 23,314 ā 23,314 10,858 5,644 16,502 39,816 2,956 Consumer Installment 29,715 603 30,318 1,390 219 1,609 31,927 1,001 Home equity lines 6,611 107 6,718 557 146 703 7,421 217 Credit card 684 100 784 ā 3 3 787 250 Residential mortgages 13,925 2,105 16,030 4,957 3,710 8,667 24,697 890 Total originated consumer 50,935 2,915 53,850 6,904 4,078 10,982 64,832 2,358 Total originated TDRs $ 74,249 $ 2,915 $ 77,164 $ 17,762 $ 9,722 $ 27,484 $ 104,648 $ 5,314 Acquired loans Commercial C&I ā ā ā ā ā ā ā ā CRE ā ā ā 930 ā 930 930 98 Total acquired commercial ā ā ā 930 ā 930 930 98 Consumer Installment 1,082 47 1,129 15 ā 15 1,144 44 Home equity lines 6,387 618 7,005 133 ā 133 7,138 ā Residential mortgages 1,313 ā 1,313 615 222 837 2,150 ā Total acquired consumer 8,782 665 9,447 763 222 985 10,432 44 Total acquired TDRs $ 8,782 $ 665 $ 9,447 $ 1,693 $ 222 $ 1,915 $ 11,362 $ 142 FDIC acquired loans Commercial C&I $ ā $ ā $ ā $ ā $ ā $ ā $ ā $ ā CRE ā 11,704 11,704 ā ā ā 11,704 2,393 Construction 525 ā 525 ā ā ā 525 96 Total FDIC acquired commercial 525 11,704 12,229 ā ā ā 12,229 2,489 Consumer Home equity lines 9,505 89 9,594 143 826 969 10,563 23 Residential mortgages 184 ā 184 ā ā ā 184 ā Total FDIC acquired consumer 9,689 89 9,778 143 826 969 10,747 23 Total FDIC acquired TDRs $ 10,214 $ 11,793 $ 22,007 $ 143 $ 826 $ 969 $ 22,976 $ 2,512 Total loans Commercial C&I $ 17,346 $ ā $ 17,346 $ 9,260 $ 2,848 $ 12,108 $ 29,454 $ 2,893 CRE 5,968 11,704 17,672 2,528 2,796 5,324 22,996 2,554 Construction 525 ā 525 ā ā ā 525 96 Total commercial 23,839 11,704 35,543 11,788 5,644 17,432 52,975 5,543 Consumer Installment 30,797 650 31,447 1,405 219 1,624 33,071 1,045 Home equity lines 22,503 814 23,317 833 972 1,805 25,122 240 Credit card 684 100 784 ā 3 3 787 250 Residential mortgages 15,422 2,105 17,527 5,572 3,932 9,504 27,031 890 Total consumer 69,406 3,669 73,075 7,810 5,126 12,936 86,011 2,425 Total TDRs $ 93,245 $ 15,373 $ 108,618 $ 19,598 $ 10,770 $ 30,368 $ 138,986 $ 7,968 As of December 31, 2014 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 6,740 $ ā $ 6,740 $ ā $ 383 $ 383 $ 7,123 $ 72 CRE 12,885 952 13,837 394 3,376 3,770 17,607 159 Construction ā ā ā ā ā ā ā ā Total originated commercial 19,625 952 20,577 394 3,759 4,153 24,730 231 Consumer Installment 22,254 726 22,980 1,663 262 1,925 24,905 1,178 Home equity lines 6,239 269 6,508 871 ā 871 7,379 207 Credit card 775 60 835 15 4 19 854 296 Residential mortgages 13,440 3,538 16,978 5,006 3,267 8,273 25,251 1,283 Total originated consumer 42,708 4,593 47,301 7,555 3,533 11,088 58,389 2,964 Total originated TDRs $ 62,333 $ 5,545 $ 67,878 $ 7,949 $ 7,292 $ 15,241 $ 83,119 $ 3,195 Acquired loans Commercial C&I $ 15 $ ā $ 15 $ 3 $ ā $ 3 $ 18 $ 18 CRE ā ā ā 978 1,564 2,542 2,542 134 Total acquired commercial 15 ā 15 981 1,564 2,545 2,560 152 Consumer Installment 841 87 928 24 23 47 975 65 Home equity lines 6,186 607 6,793 139 ā 139 6,932 9 Residential mortgages 868 ā 868 470 295 765 1,633 2 Total acquired consumer 7,895 694 8,589 633 318 951 9,540 76 Total acquired TDRs $ 7,910 $ 694 $ 8,604 $ 1,614 $ 1,882 $ 3,496 $ 12,100 $ 228 FDIC acquired loans Commercial C&I $ ā $ 177 $ 177 $ ā $ ā $ ā $ 177 $ ā CRE 5,123 20,376 25,499 ā ā ā 25,499 2,879 Construction 339 ā 339 ā ā ā 339 295 Total FDIC acquired commercial 5,462 20,553 26,015 ā ā ā 26,015 3,174 Consumer Home equity lines 8,561 ā 8,561 329 ā 329 8,890 27 Residential mortgages 334 ā 334 ā ā ā 334 21 Total FDIC acquired consumer 8,895 ā 8,895 329 ā 329 9,224 48 Total FDIC acquired TDRs $ 14,357 $ 20,553 $ 34,910 $ 329 $ ā $ 329 $ 35,239 $ 3,222 Total Loans Commercial C&I $ 6,755 $ 177 $ 6,932 $ 3 $ 383 $ 386 $ 7,318 $ 90 CRE 18,008 21,328 39,336 1,372 4,940 6,312 45,648 3,172 Construction 339 ā 339 ā ā ā 339 295 Total commercial 25,102 21,505 46,607 1,375 5,323 6,698 53,305 3,557 Consumer Installment 23,095 813 23,908 1,687 285 1,972 25,880 1,243 Home equity lines 20,986 876 21,862 1,339 ā 1,339 23,201 243 Credit card 775 60 835 15 4 19 854 296 Residential mortgages 14,642 3,538 18,180 5,476 3,562 9,038 27,218 1,306 Total consumer 59,498 5,287 64,785 8,517 3,851 12,368 77,153 3,088 Total TDRs $ 84,600 $ 26,792 $ 111,392 $ 9,892 $ 9,174 $ 19,066 $ 130,458 $ 6,645 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 $ ā $ 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 ā ā ā 53 ā 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 ā 1,001 6,956 201 Credit card 857 86 943 ā 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 $ ā $ ā $ ā $ 4 $ ā $ 4 $ 4 $ 4 CRE 1,661 ā 1,661 ā ā ā 1,661 182 Total acquired commercial 1,661 ā 1,661 4 ā 4 1,665 186 Consumer Installment 702 250 952 27 ā 27 979 14 Home equity lines 4,026 576 4,602 108 ā 108 4,710 ā Residential mortgages 670 ā 670 764 27 791 1,461 ā 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 FDIC acquired loans Commercial C&I $ ā $ 177 $ 177 $ ā $ ā $ ā $ 177 $ ā CRE 4,909 32,476 37,385 ā ā ā 37,385 1,129 Construction 666 1,939 2,605 ā ā ā 2,605 68 Total FDIC acquired commercial 5,575 34,592 40,167 ā ā ā 40,167 1,197 Consumer Home equity lines 8,038 115 8,153 336 ā 336 8,489 ā Residential mortgages 337 ā 337 ā ā ā 337 ā Total FDIC acquired consumer 8,375 115 8,490 336 ā 336 8,826 ā Total FDIC acquired TDRs $ 13,950 $ 34,707 $ 48,657 $ 336 $ ā $ 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 ā 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 ā 1,445 20,155 201 Credit card 857 86 943 ā 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 |
Schedule of Debtor Troubled Debt Restructuring, Current Period | The following tables provide the number of loans modified in a TDR within the previous 12 months that subsequently defaulted during the three months ended June 30, 2015 and June 30, 2014 , as well as the amount defaulted in these restructured loans. As of June 30, 2015 (Dollars in thousands) Number of Loans Amount Defaulted Originated loans Commercial C&I ā $ ā CRE ā ā Construction ā ā Total originated commercial ā ā Consumer Installment 1 6 Home equity lines ā ā Credit card 1 1 Residential mortgages 1 368 Total originated consumer 3 $ 375 FDIC acquired loans Commercial C&I ā $ ā CRE ā ā Construction ā ā Total FDIC acquired commercial ā $ ā Acquired loans Commercial C&I ā $ ā CRE ā ā Construction ā ā Total acquired commercial ā $ ā Consumer Installment 1 33 Home equity lines ā ā Residential mortgages ā ā Total acquired consumer 1 $ 33 Total loans Commercial C&I ā $ ā CRE ā ā Construction ā ā Total commercial ā ā Consumer Installment 2 39 Home equity lines ā ā Credit card 1 1 Residential mortgages 1 368 Total consumer 4 408 Total 4 $ 408 As of June 30, 2014 (Dollars in thousands) Number of Loans Recorded Investment Originated loans Commercial C&I 1 $ 170 CRE 1 363 Construction ā ā Total originated commercial 2 533 Consumer Installment 1 3 Home equity lines ā ā Credit card 7 31 Residential mortgages 1 99 Total originated consumer 9 $ 133 FDIC acquired loans Commercial C&I ā $ ā CRE ā ā Construction ā ā Total FDIC acquired commercial ā $ ā Acquired loans Commercial C&I ā $ ā CRE ā ā Construction ā ā Total acquired commercial ā ā Consumer Installment ā ā Home equity lines ā ā Residential mortgages ā ā Total acquired consumer ā $ ā Total loans Commercial C&I 1 $ 170 CRE 1 363 Construction ā ā Total commercial 2 533 Consumer Installment 1 3 Home equity lines ā ā Credit card 7 31 Residential mortgages 1 99 Total consumer 9 133 Total 11 $ 666 |
Goodwill and Other Intangible27
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (24,150 ) $ 58,173 Lease intangible 238 (194 ) 44 Trust Relationships (2) 14,000 (6,393 ) 7,607 $ 96,561 (30,737 ) $ 65,824 December 31, 2014 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (19,996 ) $ 62,327 Lease intangible 238 (176 ) 62 Trust Relationships (2) 14,000 (5,369 ) 8,631 $ 96,561 $ (25,541 ) $ 71,020 June 30, 2014 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 87,533 $ (20,637 ) $ 66,896 Lease intangible 618 (538 ) 80 Trust relationships (2) 14,000 (4,090 ) 9,910 $ 102,151 $ (25,265 ) $ 76,886 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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, (Dollars in thousands, except per share amounts) 2015 2014 2015 2014 Basic EPS: Net income $ 56,584 $ 59,519 $ 113,723 $ 112,974 Less: Cash dividends on 5.875% non-cumulative perpetual series A, Preferred Stock 1,469 1,469 2,938 2,938 Income allocated to participating securities 467 489 937 926 Net income attributable to common shareholders $ 54,648 $ 57,561 $ 109,848 $ 109,110 Weighted average Common Stock outstanding used in basic EPS 165,736 165,335 165,574 165,198 Basic net income per common share $ 0.33 $ 0.35 $ 0.66 $ 0.66 Diluted EPS: Income used in diluted earnings per common share calculation $ 54,648 $ 57,561 $ 109,848 $ 109,110 Weighted average Common Stock outstanding used in basic EPS 165,736 165,335 165,574 165,198 Add: Common Stock equivalents: Warrant and stock plans 541 812 515 854 Weighted average Common and Common Stock equivalent shares outstanding 166,277 166,147 166,089 166,052 Diluted net income per common share $ 0.33 $ 0.35 $ 0.66 $ 0.66 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 and June 30, 2014 : FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2015 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 101,342 $ 202,830 $ 92,501 $ 184,527 $ 5,452 $ 10,932 $ (14,177 ) $ (27,548 ) $ 185,118 $ 370,741 Provision/ (recapture) for loan losses 2,285 1,759 8,447 15,981 (1 ) (171 ) (1,765 ) (355 ) 8,966 17,214 Noninterest income 21,918 44,408 23,964 45,701 14,816 28,792 5,884 13,528 66,582 132,429 Noninterest expense 61,032 122,685 87,799 176,070 13,461 27,181 (618 ) (3,610 ) 161,674 322,326 Net income/(loss) 38,963 79,816 13,142 24,815 4,425 8,264 54 828 56,584 113,723 AVERAGES: Assets $ 9,437,824 $ 9,445,975 $ 5,951,665 $ 5,898,835 $ 290,798 $ 296,461 $ 9,449,572 $ 9,374,463 $ 25,129,859 $ 25,015,734 Loans 9,533,843 9,520,262 5,702,015 5,636,666 281,013 286,484 60,490 59,274 15,577,361 15,502,686 Earning assets 9,828,867 9,811,770 5,707,400 5,645,469 281,013 286,484 6,535,441 6,483,544 22,352,721 22,227,267 Deposits 6,777,434 6,831,887 11,105,954 11,115,005 1,188,563 1,214,617 610,711 573,990 19,682,662 19,735,499 Economic capital 1,355,049 1,349,289 767,803 763,446 111,770 109,969 657,810 656,765 2,892,432 2,879,469 FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2014 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 106,217 $ 210,422 $ 96,108 $ 190,454 $ 4,927 $ 9,717 $ (11,675 ) $ (21,114 ) $ 195,577 $ 389,479 Provision/ (recapture) for loan losses (1,346 ) 4,360 12,443 20,782 396 351 3,760 4,297 15,253 29,790 Noninterest income 26,681 47,987 25,345 52,380 14,052 27,516 6,482 11,948 72,560 139,831 Noninterest expense 63,441 127,407 89,383 186,091 13,177 26,695 1,399 (3,460 ) 167,400 336,733 Net income/(loss) 46,875 83,885 12,758 23,375 3,515 6,622 (3,629 ) (907 ) 59,519 112,974 AVERAGES: Assets $ 9,192,463 $ 9,132,758 $ 5,546,492 $ 5,504,382 $ 258,845 $ 250,279 $ 9,293,476 $ 9,329,040 $ 24,291,276 $ 24,216,459 Loans 9,176,853 9,119,431 5,198,481 5,142,098 248,188 239,358 78,797 57,313 14,702,319 14,558,200 Earning assets 9,465,291 9,387,095 5,218,868 5,160,893 248,188 239,358 6,435,149 6,349,614 21,367,496 21,136,960 Deposits 6,545,608 6,595,348 11,720,730 11,736,766 1,050,002 1,030,018 180,455 204,132 19,496,795 19,566,264 Economic capital 1,301,532 1,300,177 744,110 724,203 100,361 98,684 622,349 627,822 2,768,352 2,750,886 |
Derivatives and Hedging Activ30
Derivatives and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments Designated as Hedging Instruments | At June 30, 2015 , December 31, 2014 , and June 30, 2014 , 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, 2015 December 31, 2014 June 30, 2014 June 30, 2015 December 31, 2014 June 30, 2014 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps: Commercial Loan Swaps (FRAPS) $ ā $ ā $ ā $ ā $ ā $ ā $ 75,794 $ 5,104 $ 93,313 $ 6,683 $ 102,828 $ 8,989 Sub Debt Swap 250,000 1,153 250,000 5,256 ā ā ā ā ā ā ā ā Fair value hedges $ 250,000 $ 1,153 $ 250,000 $ 5,256 $ ā $ ā $ 75,794 $ 5,104 $ 93,313 $ 6,683 $ 102,828 $ 8,989 ( 1) Included in "Other assets" on the Consolidated Balance Sheets (2) Included in "Other liabilities" on the Consolidated Balance Sheet |
Derivative Instruments not Designated as Hedging Instruments | As of June 30, 2015 , December 31, 2014 , and June 30, 2014 , 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, 2015 December 31, 2014 June 30, 2014 June 30, 2015 December 31, 2014 June 30, 2014 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps $ 1,726,600 $ 46,216 $ 1,673,012 $ 48,366 $ 1,618,463 $ 47,952 $ 1,726,600 $ 46,216 $ 1,673,012 $ 48,366 $ 1,618,463 $ 47,952 Mortgage loan commitments 52,024 342 102,523 1,408 169,232 2,491 ā ā ā ā ā ā Forward sales contracts 15,200 106 ā ā ā ā ā ā 47,657 272 80,161 545 Credit contracts ā ā 10,001 ā 15,269 ā 73,512 ā 69,227 ā 52,319 10 Foreign exchange 29,687 256 22,406 167 25,623 107 15,823 177 6,580 118 7,568 48 Equity swap ā ā ā ā ā ā 31,718 ā 25,198 ā 25,397 ā Total $ 1,823,511 $ 46,920 $ 1,807,942 $ 49,941 $ 1,828,587 $ 50,550 $ 1,847,653 $ 46,393 $ 1,821,674 $ 48,756 $ 1,783,908 $ 48,555 (1) Included in "Other assets" on the Consolidated Balance Sheets (2) 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, 2015 and 2014 are as follows: Derivatives not instruments Location of Gain/(Loss) Derivative Amount of Gain / (Loss) Recognized in Income on Derivatives (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Mortgage loan commitments Loan sales and servicing income $ (46 ) $ 916 $ (1,066 ) $ 1,600 Forward sales contracts Loan sales and servicing income 175 (713 ) 378 (929 ) Foreign exchange contracts Other operating income 165 328 (712 ) 107 Equity swap Other operating expense ā ā ā ā Total $ 294 $ 531 $ (1,400 ) $ 778 |
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, 2015 , December 31, 2014 , and June 30, 2014 . 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, 2015 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 (1) Collateral (2) Derivative Assets Interest rate swaps - designated $ 1,153 $ ā $ 1,153 $ ā $ ā $ 1,153 Interest rate swaps - non-designated 414 $ ā 414 (414 ) ā ā Foreign exchange 164 ā 164 (49 ) (115 ) ā Total derivative assets $ 1,731 $ ā $ 1,731 $ (463 ) $ (115 ) $ 1,153 Derivative liabilities Interest rate swaps - designated $ 5,104 $ ā $ 5,104 $ ā $ (5,104 ) $ ā Interest rate swaps - non-designated 45,802 ā 45,802 (414 ) (45,388 ) ā Foreign exchange 49 ā 49 (49 ) ā ā Total derivative liabilities $ 50,955 $ ā $ 50,955 $ (463 ) $ (50,492 ) $ ā As of December 31, 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 (1) Collateral (2) Derivative assets Interest rate swaps - designated $ 5,256 $ ā $ 5,256 $ ā $ ā $ 5,256 Interest rate swaps - non-designated 352 ā 352 (352 ) ā ā Foreign exchange 134 ā 134 (28 ) (106 ) ā Total derivative assets $ 5,742 $ ā $ 5,742 $ (380 ) $ (106 ) $ 5,256 Derivative liabilities Interest rate swaps - designated $ 6,683 $ ā $ 6,683 $ ā $ (6,683 ) $ ā Interest rate swaps - non-designated 48,014 ā 48,014 (352 ) (47,662 ) ā Foreign exchange 28 ā 28 (28 ) ā ā Total derivative liabilities $ 54,725 $ ā $ 54,725 $ (380 ) $ (54,345 ) $ ā 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 (1) Collateral (2) Derivative assets Interest rate swaps - non-designated $ 839 $ ā $ 839 $ (839 ) $ ā $ ā Foreign exchange 19 ā 19 (19 ) ā ā Total derivative assets $ 858 $ ā $ 858 $ (858 ) $ ā $ ā Derivative liabilities Interest rate swaps - designated $ 8,989 $ ā $ 8,989 $ ā $ (8,989 ) $ ā Interest rate swaps - non-designated 47,114 ā 47,114 (839 ) (46,275 ) ā Foreign exchange 35 ā 35 (19 ) (16 ) ā Total derivative liabilities $ 56,138 $ ā $ 56,138 $ (858 ) $ (55,280 ) $ ā (1) 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. (2) 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, 2015 | |
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) 2015 2014 2015 2014 Service cost $ 207 $ 182 $ 415 $ 364 Interest cost 3,517 3,584 7,035 7,168 Expected return on assets (3,902 ) (4,009 ) (7,804 ) (8,017 ) Amortization of unrecognized prior service costs 570 698 1,140 1,331 Amortization of actuarial losses/(gains) 1,057 804 2,113 1,513 Net periodic pension cost $ 1,449 $ 1,259 $ 2,899 $ 2,359 Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Service cost $ 41 $ 16 $ 83 $ 33 Interest cost 144 164 288 327 Amortization of unrecognized prior service costs (160 ) (117 ) (319 ) (234 ) Amortization of actuarial losses/(gains) 81 59 163 118 Net periodic postretirement cost $ 106 $ 122 $ 215 $ 244 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 , December 31, 2014 , and June 30, 2014 : Fair Value by Hierarchy (In thousands) June 30, 2015 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,824 $ 2,824 $ ā $ ā U.S. treasury notes & bonds 5,005 ā 5,005 ā U.S. government agency debentures 2,510 ā 2,510 ā U.S. States and political subdivisions 207,617 ā 207,617 ā Residential mortgage-backed securities: U.S. government agencies 960,852 ā 960,852 ā Commercial mortgage-backed securities: U.S. government agencies 170,338 ā 170,338 ā Residential collateralized mortgage-backed securities: U.S. government agencies 1,949,389 ā 1,949,389 ā Non-agency 5 ā ā 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 228,438 ā 228,438 ā Corporate debt securities 53,450 ā ā 53,450 Asset-backed securities: Collateralized loan obligations 258,081 ā ā 258,081 Total available for sale securities 3,838,509 2,824 3,524,149 311,536 Residential loans held for sale 8,302 ā 8,302 ā Derivative assets: Interest rate swaps - fair value hedges 1,153 ā 1,153 ā Interest rate swaps - nondesignated 46,216 ā 46,216 ā Mortgage loan commitments 342 ā 342 ā Forward sale contracts 106 ā 106 ā Foreign exchange 256 ā 256 ā Total derivative assets 48,073 ā 48,073 ā Total fair value of assets (1) $ 3,894,884 $ 2,824 $ 3,580,524 $ 311,536 Derivative liabilities: Interest rate swaps - fair value hedges $ 5,104 $ ā $ 5,104 $ ā Interest rate swaps - nondesignated 46,216 ā 46,216 ā Foreign exchange 177 ā 177 ā Total derivative liabilities 51,497 ā 51,497 ā True-up liability 13,408 ā ā 13,408 Total fair value of liabilities (1) $ 64,905 $ ā $ 51,497 $ 13,408 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 20,809 $ ā $ ā $ 20,809 Impaired loans (3) 72,580 ā ā 72,580 Other property (4) 33,078 ā ā 33,078 Other real estate covered by loss share (5) 4 ā ā 4 Total nonrecurring fair value $ 126,471 $ ā $ ā $ 126,471 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the three months ended June 30, 2015 . (2) MSRs with a recorded investment of $20.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $20.1 million resulting in recognition of $0.6 million in recoveries included in loan sales and servicing income in the three months ended June 30, 2015 . (3) Collateral dependent impaired loans with a recorded investment of $82.7 million were reduced by specific valuation allowance allocations totaling $10.2 million to a reported net carrying value of $72.6 million . (4) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $2.1 million included in noninterest expense. (5) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition was immaterial. Fair Value by Hierarchy (In thousands) December 31, 2014 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,974 $ 2,974 $ ā $ ā U.S. government agency debentures 2,482 ā 2,482 ā U.S. States and political subdivisions 227,342 ā 227,342 ā Residential mortgage-backed securities: U.S. government agencies 970,998 ā 970,998 ā Commercial mortgage-backed securities: U.S. government agencies 103,403 ā 103,403 ā Residential collateralized mortgage-backed securities: U.S. government agencies 1,676,567 ā 1,676,567 ā Non-agency 7 ā 1 6 Commercial collateralized mortgage-backed securities: U.S. government agencies 222,334 ā 222,334 ā Corporate debt securities 51,337 ā ā 51,337 Asset-backed securities Collateralized loan obligations 287,844 ā ā 287,844 Total available-for-sale securities 3,545,288 2,974 3,203,127 339,187 Residential loans held for sale 14,389 ā 14,389 ā Derivative assets: Interest rate swaps - fair value hedges 5,256 ā 5,256 ā Interest rate swaps - nondesignated 48,366 ā 48,366 ā Mortgage loan commitments 1,408 ā 1,408 ā Forward sale contracts ā ā ā ā Foreign exchange 167 ā 167 ā Total derivative assets 55,197 ā 55,197 ā Total fair value of assets (1) $ 3,614,874 $ 2,974 $ 3,272,713 $ 339,187 Derivative liabilities: Interest rate swaps - fair value hedges $ 6,683 $ ā $ 6,683 $ ā Interest rate swaps - nondesignated 48,366 ā 48,366 ā Forward sale contracts 272 ā 272 ā Foreign exchange 118 ā 118 ā Total derivative liabilities 55,439 ā 55,439 ā True-up liability 13,294 ā ā 13,294 Total fair value of liabilities (1) $ 68,733 $ ā $ 55,439 $ 13,294 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 21,228 $ ā $ ā $ 21,228 Impaired loans (3) 56,041 ā ā 56,041 Other property (4) 12,510 ā ā 12,510 Other real estate covered by loss share (5) 3,614 ā ā 3,614 Total nonrecurring fair value $ 93,393 $ ā $ ā $ 93,393 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the year ended December 31, 2014 . (2) MSRs with a recorded investment of $22.0 million were reduced by a specific valuation allowance totaling $1.0 million to a reported carrying value of $21.1 million resulting in a recovery of previously recognized expense of $0.7 million in recoveries included in loans sales and servicing income in the year ended December 31, 2014 . (3) Collateral dependent impaired loans with a recorded investment of $60.3 million were reduced by specific valuation allowance allocations totaling $4.3 million to a reported net carrying value of $56.0 million . (4) Amounts do not include assets held at cost at December 31, 2014 . During the year ended December 31, 2014 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $2.6 million included in noninterest expense. (5) Amounts do not include assets held at cost at December 31, 2014 . During the year ended December 31, 2014 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $1.2 million included in noninterest expense. Fair Value by Hierarchy (In thousands) June 30, 2014 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,935 $ 2,935 $ ā $ ā Non-marketable equity securities 3,281 10 3,271 U.S. States and political subdivisions 240,805 ā 240,805 ā Residential mortgage-backed securities: U.S. government agencies 1,018,174 ā 1,018,174 ā Commercial mortgage-backed securities: U.S. government agencies 85,698 ā 85,698 ā Residential collateralized mortgage-backed securities: U.S. government agencies 1,598,031 ā 1,598,031 ā Non-agency 8 ā 1 7 Commercial collateralized mortgage-backed securities: U.S. government agencies 182,033 ā 182,033 ā Corporate debt securities 53,490 ā ā 53,490 Asset-backed securities: Collateralized loan obligations 293,965 ā ā 293,965 Total available-for-sale securities 3,478,420 2,935 3,124,752 350,733 Residential loans held for sale 21,632 ā 21,632 ā Derivative assets: Interest rate swaps - fair value hedges ā ā ā ā Interest rate swaps - nondesignated 47,952 ā 47,952 ā Mortgage loan commitments 2,491 ā 2,491 ā Forward sale contracts ā ā ā ā Foreign exchange 107 ā 107 ā Total derivative assets 50,550 ā 50,550 ā Total fair value of assets (1) $ 3,550,602 $ 2,935 $ 3,196,934 $ 350,733 Derivative liabilities: Interest rate swaps - fair value hedges $ 8,989 $ ā $ 8,989 $ ā Interest rate swaps - nondesignated 47,952 ā 47,952 ā Forward sale contracts 545 ā 545 ā Foreign exchange 48 ā 48 ā Credit contracts 10 ā 10 ā Total derivative liabilities 57,544 ā 57,544 ā True-up liability 12,581 ā ā 12,581 Total fair value of liabilities (1) $ 70,125 $ ā $ 57,544 $ 12,581 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 21,987 $ ā $ ā $ 21,987 Impaired loans (3) 56,006 ā ā 56,006 Other property (4) 17,052 ā ā 17,052 Other real estate covered by loss share (5) 22,782 ā ā 22,782 Total nonrecurring fair value $ 117,827 $ ā $ ā $ 117,827 (1) There were no transfers between levels 1, 2 and 3 of the fair value hierarchy during the three months ended June 30, 2014 . (2) 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 recovery of a previously recognized expense of $0.1 million in the three months ended June 30, 2014 . (3) 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) 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. (5) 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 of $0.7 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, 2015 and 2014 are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (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 $ 346,685 $ 13,707 $ 349,425 $ 11,983 $ 339,187 $ 13,294 $ 347,610 $ 11,463 (Gains) losses included in earnings (1) ā (299 ) ā 598 ā 114 ā 1,118 Unrealized gains (losses) (2) 4,561 ā 1,253 ā 11,697 ā 3,021 ā Purchases 41,509 ā ā ā 41,509 ā ā ā Sales (71,832 ) ā ā ā (71,832 ) ā ā ā Settlements (9,387 ) ā 55 ā (9,025 ) ā 102 ā Balance at ending of period $ 311,536 $ 13,408 $ 350,733 $ 12,581 $ 311,536 $ 13,408 $ 350,733 $ 12,581 (1) Reported in "Other expense" (2) 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, 2015 December 31, 2014 June 30, 2014 Aggregate fair value carrying amount $ 8,302 $ 14,389 $ 21,632 Aggregate unpaid principal / contractual balance 8,155 13,873 20,886 Carrying amount over aggregate unpaid principal (1) $ 147 $ 516 $ 746 (1) 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 Corporationās financial instruments that are carried at either fair value or cost as of June 30, 2015 , December 31, 2014 , and June 30, 2014 are shown in the tables below. June 30, 2015 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 587,589 $ 587,589 $ 587,589 $ ā $ ā Available-for-sale securities 3,838,509 3,838,509 2,824 3,524,149 311,536 Held-to-maturity securities 2,787,513 2,760,120 ā 2,760,120 ā Other securities 147,967 147,967 ā 147,967 ā Loans held for sale 5,432 8,302 ā 8,302 ā Net originated loans 13,254,230 13,077,485 ā ā 13,077,485 Net acquired loans 2,090,734 2,167,304 ā ā 2,167,304 Net FDIC acquired loans and loss share receivable 211,887 211,887 ā ā 211,887 Accrued interest receivable 66,501 66,501 ā 66,501 ā Derivatives 48,073 48,073 ā 48,073 ā Financial liabilities: Deposits $ 19,673,850 $ 19,681,270 $ ā $ 19,681,270 $ ā Federal funds purchased and securities sold under agreements to repurchase 1,519,250 1,519,250 ā 1,519,250 ā Wholesale borrowings 366,074 369,337 ā 369,337 ā Long-term debt 497,393 509,900 ā 509,900 ā Accrued interest payable 9,910 9,910 ā 9,910 ā Derivatives 51,497 51,497 ā 51,497 ā December 31, 2014 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 697,424 $ 697,424 $ 697,424 $ ā $ ā Available-for-sale securities 3,545,288 3,545,288 2,974 3,203,127 339,187 Held-to-maturity securities 2,903,609 2,875,920 ā 2,875,920 ā Other securities 148,654 148,654 ā 148,654 ā Loans held for sale 13,428 14,389 ā 14,389 ā Net originated loans 12,398,116 12,235,530 ā ā 12,235,530 Net acquired loans 2,471,723 2,564,842 ā ā 2,564,842 Net FDIC acquired loans and loss share receivable 312,659 312,659 ā ā 312,659 Accrued interest receivable 63,657 63,657 ā 63,657 ā Derivatives 55,197 55,197 ā 55,197 ā Financial liabilities: Deposits $ 19,504,665 $ 19,510,192 $ ā $ 19,510,192 $ ā Federal funds purchased and securities sold under agreements to repurchase 1,272,591 1,272,591 ā 1,272,591 ā Wholesale borrowings 428,071 430,676 ā 430,676 ā Long-term debt 505,192 516,476 ā 516,476 ā Accrued interest payable 9,820 9,820 ā 9,820 ā Derivatives 55,439 55,439 ā 55,439 ā June 30, 2014 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 642,570 $ 642,570 $ 642,570 $ ā $ ā 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 ā 3,001,866 ā Other securities 148,433 148,433 ā 148,433 ā Loans held for sale 21,632 21,632 ā 21,632 ā Net originated loans 11,375,243 11,458,318 ā ā 11,458,318 Net acquired loans 3,018,810 3,166,228 ā ā 3,166,228 Net FDIC acquired loans and loss share receivable 433,538 433,538 ā ā 433,538 Accrued interest receivable 63,172 63,172 ā 63,172 ā Derivatives 50,550 50,550 ā 50,550 ā Financial liabilities: Deposits $ 19,298,396 $ 19,300,842 $ ā $ 19,300,842 $ ā Federal funds purchased and securities sold under agreements to repurchase 1,218,855 1,218,855 ā 1,218,855 ā Wholesale borrowings 649,021 652,615 ā 652,615 ā Long-term debt 324,433 335,757 ā 335,757 ā Accrued interest payable 8,311 8,311 ā 8,311 ā Derivatives 57,544 57,544 ā 57,544 ā |
Mortgage Servicing Rights and33
Mortgage Servicing Rights and Mortgage Servicing Activity (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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) 2015 2014 2015 2014 Carrying amount of MSRs Beginning balance $ 21,490 $ 22,469 $ 22,011 $ 22,760 Additions 63 643 533 1,207 Amortization (918 ) (962 ) (1,909 ) (1,817 ) Ending balance 20,635 22,150 20,635 22,150 Valuation Allowance: Beginning balance (1,131 ) (425 ) (955 ) (282 ) Additions 641 (137 ) 465 (280 ) Ending balance (490 ) (562 ) (490 ) (562 ) MSRs, net carrying balance $ 20,145 $ 21,588 $ 20,145 $ 21,588 Fair value at end of period $ 20,809 $ 21,987 $ 20,809 $ 21,987 |
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. (Dollars in thousands) Prepayment speed assumption (annual CPR) 10.10 % Decrease in fair value from 10% adverse change $ 701 Decrease in fair value from 25% adverse change $ 1,363 Discount rate assumption 9.38 % Decrease in fair value from 100 basis point adverse change $ 656 Decrease in fair value from 200 basis point adverse change $ 1,268 Expected weighted-average life (in months) 100 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Commitments to Extend Credit | Unused commitments to extend credit (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 Commercial $ 3,746,824 $ 3,748,690 $ 3,386,052 Consumer 2,397,353 2,387,623 2,280,431 Total unused commitments to extend credit $ 6,144,177 $ 6,136,313 $ 5,666,483 |
Schedule of Guarantor Obligations | The Corporation is a guarantor in certain agreements with third parties. The Corporation's maximum credit risk associated with these instruments is represented by the contractual amounts indicated in the following table. Financial guarantees (In thousands) June 30, 2015 December 31, 2014 June 30, 2014 Standby letters of credit $ 255,418 $ 242,390 $ 201,212 Loans sold with recourse 28,891 45,071 34,662 Total financial guarantees $ 284,309 $ 287,461 $ 235,874 |
Changes in Repurchase Reserve | Changes in the repurchase reserves for the three and six months ended June 30, 2015 and 2014 are as follows: Three Months Ended June 30, 2015 (In thousands) Reserve on residential mortgage loans Reserve on manufactured housing loans Total repurchase reserve Balance at beginning of period $ 6,650 $ 1,126 $ 7,776 Net increase/(decrease) to reserve 363 ā 363 Net realized (losses)/gains (363 ) 2 (361 ) Balance at end of period $ 6,650 $ 1,128 $ 7,778 Three Months Ended June 30, 2014 (In thousands) Reserve on residential mortgage loans Reserve on manufactured housing loans Total repurchased reserve Balance at beginning of period $ 8,200 $ 1,117 $ 9,317 Net increase/(decrease) to reserve 164 ā 164 Net realized (losses)/gains (464 ) 5 (459 ) Balance at end of period $ 7,900 $ 1,122 $ 9,022 |
Changes and Reclassifications35
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Changes and Reclassifications Out of 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, 2015 and 2014 : Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 (In thousands) Pretax Tax After tax Pretax Tax After tax Unrealized and realized securities gains and losses: Balance at the beginning of the period $ 24,728 $ 8,656 $ 16,072 $ (8,531 ) $ (2,985 ) $ (5,546 ) Changes in unrealized securities' holding gains/(losses) (28,642 ) (10,024 ) (18,618 ) 5,475 1,916 3,559 Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale into held-to-maturity (575 ) (203 ) (372 ) (1,079 ) (378 ) (701 ) Net losses/(gains) realized on sale of securities reclassified to noninterest income (567 ) (198 ) (369 ) (921 ) (322 ) (599 ) Balance at the end of the period (5,056 ) (1,769 ) (3,287 ) (5,056 ) (1,769 ) (3,287 ) Pension plans and other postretirement benefits: Balance at the beginning and end of the period (100,520 ) (35,181 ) (65,339 ) (102,068 ) (35,722 ) (66,346 ) Current year actual losses (gains) ā ā ā ā ā ā Amortization of actuarial gain 1,138 399 739 2,276 797 1,479 Amortization of prior service cost reclassified to other noninterest expense 410 144 266 820 287 533 Balance at the end of the period (98,972 ) (34,638 ) (64,334 ) (98,972 ) (34,638 ) (64,334 ) Total Accumulated Other Comprehensive Income $ (104,028 ) $ (36,407 ) $ (67,621 ) $ (104,028 ) $ (36,407 ) $ (67,621 ) Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 (In thousands) Pretax Tax After tax Pretax 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 from available-for-sale into 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) ā ā ā ā ā ā Amortization of actuarial losses/(gains) 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 ) |
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, 2015 and 2014 : (In thousands) Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Income statement line item presentation Realized (gains)/losses on sale of securities $ (567 ) $ (921 ) Investment securities losses (gains), net Tax expense (benefit) (35%) (198 ) (322 ) Income tax expense (benefit) Reclassified amount, net of tax $ (369 ) $ (599 ) (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 ) |
Significant Accounting Polici36
Significant Accounting Policies (Notes to Consolidated Financial Statements) (Details) $ in Millions | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($)Branch | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) |
Accounting Policies [Abstract] | |||||
Number of banking offices | 367 | ||||
Unamortized Debt Issuance Expense | $ | $ 3.7 | $ 3.8 | $ 3.7 | $ 1.9 | $ 1.8 |
Investment Securities (Amortize
Investment Securities (Amortized Cost Table and Fair Value of Held to Maturity and Available for Sale Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | $ 3,851,202 | $ 3,562,537 | $ 3,494,000 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 30,747 | 35,382 | 40,816 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (43,440) | (52,631) | (56,396) |
Available-for-sale Securities Fair Value | 3,838,509 | 3,545,288 | 3,478,420 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 2,787,513 | 2,903,609 | 3,052,118 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 17,579 | 22,108 | 18,601 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | (44,972) | (49,797) | (68,853) |
Held-to-maturity Securities, Fair Value | 2,760,120 | 2,875,920 | 3,001,866 |
US Treasury Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 5,004 | ||
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 1 | ||
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 0 | ||
Available-for-sale Securities Fair Value | 5,005 | ||
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 0 | 5,000 | 5,000 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 0 | 0 | 5 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | 0 | 0 | 0 |
Held-to-maturity Securities, Fair Value | 0 | 5,000 | 5,005 |
US Government Agencies Debt Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 2,500 | 2,500 | |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 10 | 0 | |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 0 | (18) | |
Available-for-sale Securities Fair Value | 2,510 | 2,482 | |
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 | (323) | (537) | (707) |
Held-to-maturity Securities, Fair Value | 24,677 | 24,463 | 24,293 |
U.S. States and political subdivisions debt securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 203,449 | 221,052 | 233,228 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 5,191 | 6,756 | 8,600 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (1,023) | (466) | (1,023) |
Available-for-sale Securities Fair Value | 207,617 | 227,342 | 240,805 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 529,441 | 517,824 | 549,850 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 8,104 | 12,645 | 10,072 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | (1,942) | (191) | (1,253) |
Held-to-maturity Securities, Fair Value | 535,603 | 530,278 | 558,669 |
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 947,347 | 951,839 | 998,698 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 18,068 | 22,377 | 24,965 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (4,563) | (3,218) | (5,489) |
Available-for-sale Securities Fair Value | 960,852 | 970,998 | 1,018,174 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 555,273 | 580,727 | 624,605 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 6,919 | 7,495 | 6,825 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | (2,940) | (3,045) | (4,933) |
Held-to-maturity Securities, Fair Value | 559,252 | 585,177 | 626,497 |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 171,842 | 104,176 | 86,870 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 643 | 598 | 351 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (2,147) | (1,371) | (1,523) |
Available-for-sale Securities Fair Value | 170,338 | 103,403 | 85,698 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 57,462 | 58,143 | 56,020 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 412 | 281 | 176 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | (219) | (329) | (445) |
Held-to-maturity Securities, Fair Value | 57,655 | 58,095 | 55,751 |
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 1,968,918 | 1,698,015 | 1,627,871 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 4,779 | 4,777 | 5,009 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (24,308) | (26,225) | (34,849) |
Available-for-sale Securities Fair Value | 1,949,389 | 1,676,567 | 1,598,031 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 1,267,321 | 1,368,534 | 1,450,479 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 445 | 718 | 114 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | (35,025) | (38,875) | (54,263) |
Held-to-maturity Securities, Fair Value | 1,232,741 | 1,330,377 | 1,396,330 |
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 5 | 7 | 8 |
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 | 5 | 7 | 8 |
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 | 227,889 | 222,876 | 182,151 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 1,254 | 863 | 1,008 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (705) | (1,405) | (1,126) |
Available-for-sale Securities Fair Value | 228,438 | 222,334 | 182,033 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 263,741 | 257,642 | 248,974 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 1,004 | 557 | 641 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | (4,523) | (6,768) | (7,252) |
Held-to-maturity Securities, Fair Value | 260,222 | 251,431 | 242,363 |
Collateralized Loan Obligations | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 259,743 | 297,446 | 297,334 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 801 | 11 | 883 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (2,463) | (9,613) | (4,252) |
Available-for-sale Securities Fair Value | 258,081 | 287,844 | 293,965 |
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 | 61,681 | 61,652 | 61,624 |
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 | (8,231) | (10,315) | (8,134) |
Available-for-sale Securities Fair Value | 53,450 | 51,337 | 53,490 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 89,275 | 90,739 | 92,190 |
Held-to-maturity Securities, Unrecognized Holding Gain End of Period | 695 | 412 | 768 |
Held-to-Maturity Securities, Unrecognized Holding Loss End of Period | 0 | (52) | 0 |
Held-to-maturity Securities, Fair Value | 89,970 | 91,099 | 92,958 |
Debt Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 3,848,378 | 3,559,563 | 3,487,784 |
Available-for-sale Securities, Gross Unrealized Gain at End of Period | 30,747 | 35,382 | 40,816 |
Available-for-sale Securities, Gross Unrealized Loss at End of Period | (43,440) | (52,631) | (56,396) |
Available-for-sale Securities Fair Value | 3,835,685 | 3,542,314 | 3,472,204 |
Marketable Securities and Investments Held at Cost | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 2,824 | 2,974 | 2,935 |
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 | 2,974 | 2,935 | |
Other Security Investments | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 0 | 3,281 | |
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 | 0 | 3,281 | |
Held-to-maturity Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost Basis | 2,824 | 2,974 | 6,216 |
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 | $ 2,824 | $ 2,974 | $ 6,216 |
Investment Securities (Schedule
Investment Securities (Schedule of General Obligation Bonds) (Details) $ in Thousands | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2014USD ($) |
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 773 | 825 | 873 |
General obligation bonds, average issue size, fair value | $ 910 | $ 917 | $ 915 |
General obligation bonds, amortized cost | 694,291 | 737,673 | 782,622 |
General obligation bonds, fair value | $ 703,590 | $ 756,315 | $ 798,942 |
MICHIGAN | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 153 | 169 | 174 |
General obligation bonds, average issue size, fair value | $ 1,018 | $ 842 | $ 862 |
General obligation bonds, amortized cost | 152,499 | 138,325 | 146,565 |
General obligation bonds, fair value | $ 155,712 | $ 142,292 | $ 150,052 |
OHIO | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 127 | 137 | 152 |
General obligation bonds, average issue size, fair value | $ 964 | $ 979 | $ 1,065 |
General obligation bonds, amortized cost | 121,716 | 130,741 | 158,773 |
General obligation bonds, fair value | $ 122,474 | $ 134,127 | $ 161,809 |
ILLINOIS | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 60 | 66 | 74 |
General obligation bonds, average issue size, fair value | $ 1,784 | $ 1,897 | $ 1,578 |
General obligation bonds, amortized cost | 105,581 | 121,560 | 113,501 |
General obligation bonds, fair value | $ 107,033 | $ 125,169 | $ 116,741 |
TEXAS | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 67 | 64 | 65 |
General obligation bonds, average issue size, fair value | $ 759 | $ 801 | $ 794 |
General obligation bonds, amortized cost | 50,370 | 50,307 | 50,845 |
General obligation bonds, fair value | $ 50,877 | $ 51,293 | $ 51,632 |
WISCONSIN | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 70 | 77 | 87 |
General obligation bonds, average issue size, fair value | $ 585 | $ 841 | $ 864 |
General obligation bonds, amortized cost | 39,774 | 62,543 | 72,616 |
General obligation bonds, fair value | $ 40,950 | $ 64,776 | $ 75,155 |
PENNSYLVANIA | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 46 | 45 | 49 |
General obligation bonds, average issue size, fair value | $ 1,014 | $ 1,000 | $ 972 |
General obligation bonds, amortized cost | 46,547 | 44,443 | 47,870 |
General obligation bonds, fair value | $ 46,666 | $ 45,006 | $ 47,623 |
MINNESOTA | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 34 | 42 | 42 |
General obligation bonds, average issue size, fair value | $ 692 | $ 674 | $ 678 |
General obligation bonds, amortized cost | 23,267 | 27,740 | 27,864 |
General obligation bonds, fair value | $ 23,540 | $ 28,326 | $ 28,468 |
WASHINGTON | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 30 | 30 | 30 |
General obligation bonds, average issue size, fair value | $ 939 | $ 952 | $ 955 |
General obligation bonds, amortized cost | 27,783 | 27,987 | 28,191 |
General obligation bonds, fair value | $ 28,169 | $ 28,558 | $ 28,660 |
NEW JERSEY | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 34 | 37 | 37 |
General obligation bonds, average issue size, fair value | $ 720 | $ 746 | $ 751 |
General obligation bonds, amortized cost | 23,916 | 26,755 | 26,815 |
General obligation bonds, fair value | $ 24,472 | $ 27,612 | $ 27,805 |
MISSOURI | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 15 | 19 | 19 |
General obligation bonds, average issue size, fair value | $ 1,084 | $ 1,011 | $ 1,022 |
General obligation bonds, amortized cost | 15,981 | 18,764 | 18,855 |
General obligation bonds, fair value | $ 16,265 | $ 19,207 | $ 19,413 |
NEW YORK | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 18 | 19 | 21 |
General obligation bonds, average issue size, fair value | $ 633 | $ 628 | $ 612 |
General obligation bonds, amortized cost | 11,187 | 11,659 | 12,627 |
General obligation bonds, fair value | $ 11,392 | $ 11,929 | $ 12,860 |
Other states | |||
general obligation bonds [Line Items] | |||
General Obligation Bonds number of issuers | 119 | 120 | 123 |
General obligation bonds, average issue size, fair value | $ 639 | $ 650 | $ 640 |
General obligation bonds, amortized cost | 75,670 | 76,849 | 78,100 |
General obligation bonds, fair value | $ 76,040 | $ 78,020 | $ 78,724 |
Investment Securities (Other In
Investment Securities (Other Investments Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Other investments | |||
FRB stock | $ 55,853 | $ 55,681 | $ 55,435 |
FHLB stock | 91,713 | 92,547 | 92,547 |
Other | 401 | 426 | 451 |
Total other investments | $ 147,967 | $ 148,654 | $ 148,433 |
Investment Securities (Realized
Investment Securities (Realized Gain Loss Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Proceeds and gross unrealized gains and losses on sales of available-for-sale securities | ||||
Realized gains | $ 672 | $ 80 | $ 1,064 | $ 300 |
Realized losses | (105) | 0 | (143) | (164) |
Net securities (losses)/gains | $ 567 | $ 80 | $ 921 | $ 136 |
Investment Securities (Gross Un
Investment Securities (Gross Unrealized Loss Table) (Details) $ in Thousands | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2014USD ($) |
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 1,057,236 | $ 424,916 | $ 472,977 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (10,569) | $ (2,807) | $ (5,046) |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 139 | 53 | 55 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 1,029,278 | $ 1,485,458 | $ 1,418,752 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (32,871) | $ (49,824) | $ (51,350) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 97 | 162 | 161 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 2,086,514 | $ 1,910,374 | $ 1,891,729 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (43,440) | (52,631) | (56,396) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 305,627 | 125,775 | 187,242 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (3,233) | $ (277) | $ (1,434) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 127 | 30 | 64 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 1,329,114 | $ 1,577,797 | $ 1,747,578 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ (41,739) | $ (49,520) | $ (67,419) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 83 | 108 | 182 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 1,634,741 | $ 1,703,572 | $ 1,934,820 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | (44,972) | (49,797) | (68,853) |
US Government Agencies Debt Securities | |||
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ 0 | $ 0 | $ 0 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 24,677 | $ 24,463 | $ 24,293 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ (323) | $ (537) | $ (707) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 1 | 1 | 1 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 24,677 | $ 24,463 | $ 24,293 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | (323) | (537) | (707) |
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 | 32,237 | 5,637 | 10,988 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (587) | $ (11) | $ (16) |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 52 | 11 | 14 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 5,642 | $ 22,528 | $ 30,271 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (436) | $ (455) | $ (1,007) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 9 | 36 | 50 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 37,879 | $ 28,165 | $ 41,259 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (1,023) | (466) | (1,023) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 98,867 | 9,085 | 59,958 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (1,872) | $ (17) | $ (334) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 112 | 9 | 56 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 4,430 | $ 18,371 | $ 66,557 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ (70) | $ (174) | $ (919) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 6 | 21 | 90 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 103,297 | $ 27,456 | $ 126,515 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | (1,942) | (191) | (1,253) |
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 | 196,219 | 50,126 | 11,636 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (2,087) | $ (182) | $ (3) |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 15 | 5 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 103,498 | $ 199,773 | $ 259,470 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (2,476) | $ (3,036) | $ (5,486) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 8 | 14 | 19 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 299,717 | $ 249,899 | $ 271,106 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (4,563) | (3,218) | (5,489) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 83,112 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (483) | $ 0 | $ 0 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 5 | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 105,289 | $ 185,361 | $ 206,911 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ (2,457) | $ (3,045) | $ (4,933) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 6 | 10 | 11 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 188,401 | $ 185,361 | $ 206,911 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | (2,940) | (3,045) | (4,933) |
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 | 96,573 | 12,284 | 5,105 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (1,457) | $ (55) | $ (4) |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 14 | 2 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 17,335 | $ 45,485 | $ 45,739 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (690) | $ (1,316) | $ (1,519) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 2 | 6 | 6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 113,908 | $ 57,769 | $ 50,844 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (2,147) | (1,371) | (1,523) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 7,263 | 9,950 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (41) | $ (4) | $ 0 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 1 | 2 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 9,430 | $ 16,735 | $ 23,977 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ (178) | $ (325) | $ (445) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 1 | 2 | 3 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 16,693 | $ 26,685 | $ 23,977 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | (219) | (329) | (445) |
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 | 596,646 | 243,970 | 279,311 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (4,398) | $ (906) | $ (2,358) |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 42 | 15 | 19 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 706,376 | $ 905,478 | $ 904,821 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (19,910) | $ (25,319) | $ (32,491) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 53 | 64 | 60 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 1,303,022 | $ 1,149,448 | $ 1,184,132 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (24,308) | (26,225) | (34,849) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 111,360 | 28,333 | 127,284 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (835) | $ (149) | $ (1,100) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 8 | 3 | 8 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 1,042,351 | $ 1,161,297 | $ 1,241,883 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ (34,190) | $ (38,726) | $ (53,163) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 56 | 58 | 60 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 1,153,711 | $ 1,189,630 | $ 1,369,167 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | (35,025) | (38,875) | (54,263) |
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 | 46,771 | 31,375 | 24,431 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (71) | $ (229) | $ (97) |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 5 | 4 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 61,120 | $ 67,169 | $ 43,212 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (634) | $ (1,176) | $ (1,029) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 7 | 7 | 6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 107,891 | $ 98,544 | $ 67,643 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (705) | (1,405) | (1,126) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 5,025 | 41,474 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (2) | $ (55) | $ 0 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 1 | 3 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 142,937 | $ 171,570 | $ 183,957 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ (4,521) | $ (6,713) | $ (7,252) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 13 | 16 | 17 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 147,962 | $ 213,044 | $ 183,957 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | (4,523) | (6,768) | (7,252) |
Collateralized Loan Obligations | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 84,565 | 79,042 | 141,506 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (1,204) | $ (1,406) | $ (2,568) |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 10 | 15 | 19 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 86,082 | $ 193,687 | $ 81,749 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (1,259) | $ (8,207) | $ (1,684) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 11 | 27 | 12 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 170,647 | $ 272,729 | $ 223,255 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (2,463) | (9,613) | (4,252) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ 0 | ||
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ 0 | ||
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 0 | ||
Corporate debt securities | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,225 | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ (765) | $ 0 | $ 0 |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 1 | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 49,225 | $ 51,338 | $ 53,490 |
available for sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss at end of period | $ (7,466) | $ (10,315) | $ (8,134) |
Available for Sale Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 7 | 8 | 8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 53,450 | $ 51,338 | $ 53,490 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | (8,231) | (10,315) | (8,134) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 36,933 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ 0 | $ (52) | $ 0 |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 13 | 0 |
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 | $ 36,933 | $ 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 0 | (52) | $ 0 |
US Treasury Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 2,482 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ 0 | $ (18) | |
Available for Sale Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | 1 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | $ 0 | |
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 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 0 | $ 2,482 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | 0 | $ (18) | |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $ 0 | ||
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | $ 0 | ||
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | $ 0 |
Investment Securities (Maturiti
Investment Securities (Maturities Table) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Securities Available for Sale | |||
One year or less | $ 56,654 | ||
Available for Sale Securities Debt Maturities Maturity Period of One Year or Less Weighted Average Yield | 2.52% | ||
Over one year through five years | $ 2,895,876 | ||
Available for Sale Securities Debt Maturities Maturity Period over One Year Through Five Years Weighted Average Yield | 2.15% | ||
Over five years through ten years | $ 805,763 | ||
Available for Sale Securities Debt Maturities Maturity Period over Five Years Through Ten Years Weighted Average Yield | 2.88% | ||
Over ten years | $ 77,392 | ||
Available for Sale Securities Debt Maturities Maturity Period over Ten Years Weighted Average Yield | 1.85% | ||
Available-for-sale | $ 3,838,509 | $ 3,545,288 | $ 3,478,420 |
Amortized Cost | $ 3,851,202 | 3,562,537 | 3,494,000 |
Weighted-Average Yield | 2.30% | ||
Securities Held to Maturity | |||
One year or less | $ 67,868 | ||
Held to Maturity Securities Debt Maturities Maturity Period over One Year Through Five Years Weighted Average Yield | 2.39% | ||
Over one year through five years | $ 2,081,419 | ||
Held to Maturity Securities Debt Maturities Maturity Period over Five Years Through Ten Years Weighted Average Yield | 1.82% | ||
Over five years through ten years | $ 449,926 | ||
Held to Maturity Securities Debt Maturities Maturity Period over Ten Years Weighted Average Yield | 3.23% | ||
Over ten years | $ 158,614 | ||
Held to Maturity Securities Debt Maturities Maturity Period Weighted Average Yield | 5.37% | ||
Held-to-maturity Securities, Fair Value | $ 2,760,120 | 2,875,920 | 3,001,866 |
Held-to-maturity Securities, Carrying Amount | 2,903,609 | 3,052,118 | |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 2,787,513 | 2,903,609 | 3,052,118 |
Weighted Average Yield | 2.26% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 4 years 3 months 15 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 4 years 7 months 21 days | ||
US Government Agencies Debt Securities | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 2,510 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Available-for-sale | 2,510 | 2,482 | |
Amortized Cost | $ 2,500 | 2,500 | |
Weighted-Average Yield | 1.25% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 24,677 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 24,677 | 24,463 | 24,293 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 25,000 | 25,000 | 25,000 |
Weighted Average Yield | 1.43% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 2 years 11 months 2 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 4 years 4 months | ||
US Treasury Securities | |||
Securities Available for Sale | |||
One year or less | $ 5,005 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Available-for-sale | 5,005 | ||
Amortized Cost | $ 5,004 | ||
Weighted-Average Yield | 0.27% | ||
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 | 5,000 | 5,005 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 0 | 5,000 | 5,000 |
Weighted Average Yield | 0.00% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 9 months | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 1 day | ||
U.S. States and political subdivisions debt securities | |||
Securities Available for Sale | |||
One year or less | $ 20,063 | ||
Over one year through five years | 75,373 | ||
Over five years through ten years | 88,239 | ||
Over ten years | 23,942 | ||
Available-for-sale | 207,617 | 227,342 | 240,805 |
Amortized Cost | $ 203,449 | 221,052 | 233,228 |
Weighted-Average Yield | 5.14% | ||
Securities Held to Maturity | |||
One year or less | $ 51,848 | ||
Over one year through five years | 126,680 | ||
Over five years through ten years | 198,461 | ||
Over ten years | 158,614 | ||
Held-to-maturity Securities, Fair Value | 535,603 | 530,278 | 558,669 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 529,441 | 517,824 | 549,850 |
Weighted Average Yield | 4.62% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 5 years 6 months 1 day | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 9 years | ||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 2,279 | ||
Over one year through five years | 808,704 | ||
Over five years through ten years | 149,869 | ||
Over ten years | 0 | ||
Available-for-sale | 960,852 | 970,998 | 1,018,174 |
Amortized Cost | $ 947,347 | 951,839 | 998,698 |
Weighted-Average Yield | 2.47% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 450,306 | ||
Over five years through ten years | 108,946 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 559,252 | 585,177 | 626,497 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 555,273 | 580,727 | 624,605 |
Weighted Average Yield | 2.13% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 10 months 24 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 4 years 3 months 1 day | ||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 15,549 | ||
Over one year through five years | 65,023 | ||
Over five years through ten years | 89,766 | ||
Over ten years | 0 | ||
Available-for-sale | 170,338 | 103,403 | 85,698 |
Amortized Cost | $ 171,842 | 104,176 | 86,870 |
Weighted-Average Yield | 2.05% | ||
Securities Held to Maturity | |||
One year or less | $ 16,020 | ||
Over one year through five years | 31,459 | ||
Over five years through ten years | 10,176 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 57,655 | 58,095 | 55,751 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 57,462 | 58,143 | 56,020 |
Weighted Average Yield | 2.10% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 4 years 6 months 5 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 3 years 3 months 4 days | ||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 7,436 | ||
Over one year through five years | 1,793,341 | ||
Over five years through ten years | 148,612 | ||
Over ten years | 0 | ||
Available-for-sale | 1,949,389 | 1,676,567 | 1,598,031 |
Amortized Cost | $ 1,968,918 | 1,698,015 | 1,627,871 |
Weighted-Average Yield | 1.98% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 1,188,398 | ||
Over five years through ten years | 44,343 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 1,232,741 | 1,330,377 | 1,396,330 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 1,267,321 | 1,368,534 | 1,450,479 |
Weighted Average Yield | 1.59% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 7 months 109 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 3 years 9 months 44 days | ||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 5 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Available-for-sale | 5 | 7 | 8 |
Amortized Cost | $ 5 | 7 | 8 |
Weighted-Average Yield | 3.36% | ||
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, Carrying Amount | 0 | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 0 | ||
Weighted Average Yield | 0.00% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 2 years | ||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 6,322 | ||
Over one year through five years | 150,920 | ||
Over five years through ten years | 71,196 | ||
Over ten years | 0 | ||
Available-for-sale | 228,438 | 222,334 | 182,033 |
Amortized Cost | $ 227,889 | 222,876 | 182,151 |
Weighted-Average Yield | 1.63% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 172,222 | ||
Over five years through ten years | 88,000 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 260,222 | 251,431 | 242,363 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 263,741 | 257,642 | 248,974 |
Weighted Average Yield | 1.87% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 9 months 19 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 4 years 3 months 26 days | ||
Collateralized Loan Obligations | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 258,081 | ||
Over ten years | 0 | ||
Available-for-sale | 258,081 | 287,844 | 293,965 |
Amortized Cost | $ 259,743 | 297,446 | 297,334 |
Weighted-Average Yield | 2.97% | ||
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, Amortized Cost before Other than Temporary Impairment | $ 0 | ||
Weighted Average Yield | 0.00% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 6 years 4 months 4 days | ||
Corporate 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 | 53,450 | ||
Available-for-sale | 53,450 | 51,337 | 53,490 |
Amortized Cost | $ 61,681 | 61,652 | 61,624 |
Weighted-Average Yield | 1.00% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 89,970 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 89,970 | 91,099 | 92,958 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $ 89,275 | 90,739 | 92,190 |
Weighted Average Yield | 2.27% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 12 years 3 months 23 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 2 years 6 months 12 days | ||
Debt Securities | |||
Securities Available for Sale | |||
Available-for-sale | $ 3,835,685 | 3,542,314 | 3,472,204 |
Amortized Cost | 3,848,378 | 3,559,563 | 3,487,784 |
Level 3 | |||
Securities Available for Sale | |||
Available-for-sale | 311,536 | 339,187 | 350,733 |
Securities Held to Maturity | |||
Held-to-maturity Securities, Fair Value | 0 | 0 | 0 |
Level 3 | U.S. States and political subdivisions debt securities | |||
Securities Available for Sale | |||
Available-for-sale | 0 | 0 | 0 |
Level 3 | Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
Available-for-sale | 0 | 0 | 0 |
Level 3 | Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
Available-for-sale | 0 | 0 | 0 |
Level 3 | Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
Available-for-sale | 0 | 0 | 0 |
Level 3 | Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | |||
Securities Available for Sale | |||
Available-for-sale | 5 | 6 | 7 |
Level 3 | Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
Available-for-sale | 0 | 0 | 0 |
Level 3 | Collateralized Loan Obligations | |||
Securities Available for Sale | |||
Available-for-sale | 287,844 | 293,965 | |
Securities Held to Maturity | |||
Held-to-maturity Securities, Carrying Amount | $ 0 | ||
Level 3 | Corporate debt securities | |||
Securities Available for Sale | |||
Available-for-sale | $ 51,337 | $ 53,490 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Schedule of Investments [Line Items] | |||
Available for sale securities, net unrealized losses | $ (40,100) | $ (44,900) | $ (65,800) |
Unrealized Gain (Loss) on Investments | $ (88,400) | (102,400) | (125,200) |
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 | $ 43,440 | 52,631 | 56,396 |
Number of Single Issuer Trust Preferred Securities With Stated Maturities | 8 | ||
Percent of trust preferred securities included in fair value of entire investment portfolio | 1.00% | ||
Available-for-sale | $ 3,838,509 | 3,545,288 | 3,478,420 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | $ 43,440 | 52,631 | 56,396 |
Total number of states general obligation bonds are held | 37 | ||
Maximum portfolio concentration in municipal securities per corporate investment policy | 20.00% | ||
Other investment securities pledged | $ 3,200,000 | 2,800,000 | 3,200,000 |
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 | ||
Collateralized Loan Obligations | |||
Schedule of Investments [Line Items] | |||
Available-for-sale Securities, Gross Unrealized Loss at End of Period | 2,463 | 9,613 | 4,252 |
Available-for-sale | 258,081 | 287,844 | 293,965 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss at End of Period | $ 2,463 | $ 9,613 | $ 4,252 |
Loans (Schedule of Accounts, No
Loans (Schedule of Accounts, Notes, Loans and Financing Receivables) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | $ 9,220,049 | $ 9,128,591 | $ 9,116,184 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 1,049,731 | 1,061,043 | 1,052,455 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 3,381,706 | 3,162,493 | 2,928,985 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 1,436,526 | 1,417,330 | 1,356,260 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 168,576 | 164,478 | 151,967 |
Loans and Leases Receivable, Gross, Consumer, Lease Financing | 436,702 | 370,179 | 319,795 |
FDIC Indemnification Asset | 11,820 | 22,033 | 43,981 |
Loans and Leases Receivable, Gross | 15,705,110 | 15,326,147 | 14,969,627 |
Allowance for loan losses | (148,259) | (143,649) | (142,036) |
Net loans | 15,556,851 | 15,182,498 | 14,827,591 |
Originated Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 8,196,630 | 7,830,085 | 7,365,499 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 653,143 | 625,283 | 580,166 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 2,720,059 | 2,393,451 | 2,051,587 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 1,180,802 | 1,110,336 | 998,179 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 168,576 | 164,478 | 151,967 |
Loans and Leases Receivable, Gross, Consumer, Lease Financing | 436,702 | 370,179 | 319,795 |
Loans and Leases Receivable, Gross | 13,355,912 | 12,493,812 | 11,467,193 |
Allowance for loan losses | (101,682) | (95,696) | (91,950) |
Net loans | 13,254,230 | 12,398,116 | 11,375,243 |
Acquired Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 877,598 | 1,086,899 | 1,457,903 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 358,559 | 394,484 | 425,584 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 659,348 | 764,168 | 872,034 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 200,179 | 233,629 | 268,266 |
Loans and Leases Receivable, Gross | 2,095,684 | 2,479,180 | 3,023,787 |
Allowance for loan losses | (4,950) | (7,457) | (4,977) |
Net loans | 2,090,734 | 2,471,723 | 3,018,810 |
Covered Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 145,821 | 211,607 | 292,782 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 38,029 | 41,276 | 46,705 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 2,299 | 4,874 | 5,364 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 55,545 | 73,365 | 89,815 |
FDIC Indemnification Asset | 11,820 | 22,033 | 43,981 |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 253,514 | 353,155 | 478,647 |
Loans and Leases Receivable, Allowance, Covered | (41,627) | (40,496) | (45,109) |
Loans and Leases Receivable, Net Reported Amount, Covered | 211,887 | $ 312,659 | $ 433,538 |
George Washington acquisition | Non-Single Family Loss Share Agreement | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 2,600 | ||
Midwest acquisition | Non-Single Family Loss Share Agreement | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | $ 143,200 |
Loans (Schedule of Acquired Imp
Loans (Schedule of Acquired Impaired Loans, Accretable Yield and Carrying Amount) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Covered impaired loan | |||||
Accretable Yield | |||||
Balance at beginning of period | $ 29,867 | $ 37,511 | $ 63,003 | $ 37,511 | $ 67,282 |
Accretion | (4,100) | (12,139) | (9,667) | (24,755) | |
Net reclassifications from nonaccretable to accretable | 2,136 | 5,549 | 2,080 | 11,606 | |
Disposals | (1,753) | (2,758) | (3,774) | (478) | |
Balance at end of period | 26,150 | 29,867 | 53,655 | 26,150 | 53,655 |
Movement In Mortgage Loans On Real Estate Roll Forward | |||||
Balance at beginning of period | 199,225 | 232,452 | 364,488 | 232,452 | 403,692 |
Accretion | 4,100 | 12,139 | 9,667 | 24,755 | |
Payments received, net | (45,517) | (60,146) | (84,311) | (111,966) | |
Balance at end of period | 157,808 | 199,225 | 316,481 | 157,808 | 316,481 |
Acquired Impaired Loans | |||||
Accretable Yield | |||||
Balance at beginning of period | 118,756 | 119,450 | 142,284 | 119,450 | 136,646 |
Accretion | (10,285) | 12,746 | 21,503 | 24,487 | |
Net reclassifications from nonaccretable to accretable | 8,217 | 21,212 | 10,499 | 30,013 | |
Disposals | (4,657) | 2,595 | 7,128 | 4,730 | |
Balance at end of period | 112,031 | 118,756 | 137,442 | 112,031 | 137,442 |
Movement In Mortgage Loans On Real Estate Roll Forward | |||||
Balance at beginning of period | 388,313 | 423,209 | 557,199 | 423,209 | 601,000 |
Accretion | 10,285 | 12,746 | 21,503 | 24,487 | |
Payments received, net | (42,434) | 50,695 | 88,548 | 106,237 | |
Balance at end of period | $ 356,164 | $ 388,313 | $ 519,250 | $ 356,164 | $ 519,250 |
Loans (Covered Loan Loss Share
Loans (Covered Loan Loss Share Receivable) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Loss Share Receivable | ||||
Loss Share Receivable Rollforward [Roll Forward] | ||||
Balance at beginning of period | $ 20,005 | $ 54,748 | $ 22,033 | $ 61,827 |
Amortization | (1,185) | (4,185) | (3,372) | (10,048) |
Increase/(decrease) due to impairment (recapture) on FDIC acquired loans | 1,819 | (3,897) | 6,046 | 927 |
FDIC reimbursement | (8,713) | (1,237) | (12,726) | (6,324) |
FDIC acquired loans paid in full | (106) | (1,448) | (161) | (2,401) |
Balance at end of the period (1) | 11,820 | $ 43,981 | 11,820 | $ 43,981 |
Loss Share Receivable | Single Family Loss Share Agreement | ||||
Loss Share Receivable Rollforward [Roll Forward] | ||||
Balance at end of the period (1) | (11,800) | (11,800) | ||
George Washington acquisition | Single Family Loss Share Agreement | ||||
Changes in Loss Share Receivable Associated with Covered Loans [Line Items] | ||||
Loans and Leases Receivable, Gross, Consumer | 13,100 | 13,100 | ||
Midwest acquisition | Single Family Loss Share Agreement | ||||
Changes in Loss Share Receivable Associated with Covered Loans [Line Items] | ||||
Loans and Leases Receivable, Gross, Consumer | $ 82,800 | $ 82,800 |
Loans (Schedules of Past Due Re
Loans (Schedules of Past Due Receivables) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Consumer Loans Guaranteed by Government | $ 2,700 | $ 2,400 | $ 2,500 |
FDIC Indemnification Asset | 11,820 | 22,033 | 43,981 |
Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
FDIC Indemnification Asset | 11,820 | 22,033 | 43,981 |
Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 54,943 | 77,196 | 125,626 |
Financing Receivable, Recorded Investment, Current | 186,751 | 253,926 | 309,040 |
Financing Receivable, Net | 241,694 | 331,122 | 434,666 |
Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,916 | 6,099 | 9,822 |
Financing Receivable, Recorded Investment, Current | 35,221 | 42,738 | 46,601 |
Financing Receivable, Net | 38,137 | 48,837 | 56,423 |
Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 34,699 | 48,984 | 82,261 |
Financing Receivable, Recorded Investment, Current | 67,110 | 104,524 | 134,995 |
Financing Receivable, Net | 101,809 | 153,508 | 217,256 |
Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,701 | 6,064 | 17,278 |
Financing Receivable, Recorded Investment, Current | 2,174 | 3,198 | 1,823 |
Financing Receivable, Net | 5,875 | 9,262 | 19,101 |
Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 57 | 232 |
Financing Receivable, Recorded Investment, Current | 2,299 | 4,817 | 5,132 |
Financing Receivable, Net | 2,299 | 4,874 | 5,364 |
Covered Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,956 | 6,124 | 3,155 |
Financing Receivable, Recorded Investment, Current | 50,589 | 67,241 | 86,661 |
Financing Receivable, Net | 55,545 | 73,365 | 89,816 |
Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 8,671 | 9,868 | 12,878 |
Financing Receivable, Recorded Investment, Current | 29,358 | 31,408 | 33,828 |
Financing Receivable, Net | 38,029 | 41,276 | 46,706 |
Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 80,212 | 69,544 | 71,974 |
Financing Receivable, Recorded Investment, Current | 13,275,700 | 12,424,268 | 11,395,219 |
Financing Receivable, Net | 13,355,912 | 12,493,812 | 11,467,193 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 8,009 | 12,156 | 15,643 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 55,142 | 34,617 | 36,741 |
Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 11,566 | 6,044 | 8,210 |
Financing Receivable, Recorded Investment, Current | 5,459,797 | 5,169,157 | 4,849,405 |
Financing Receivable, Net | 5,471,363 | 5,175,201 | 4,857,615 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 1,547 | 80 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 29,241 | 6,114 | 9,991 |
Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 6,657 | 12,479 | 18,277 |
Financing Receivable, Recorded Investment, Current | 2,131,715 | 2,104,639 | 2,079,741 |
Financing Receivable, Net | 2,138,372 | 2,117,118 | 2,098,018 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 418 | 1,696 | 6,633 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,486 | 11,033 | 11,028 |
Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 483 | ||
Financing Receivable, Recorded Investment, Current | 586,412 | ||
Financing Receivable, Net | 586,895 | 537,766 | 409,866 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | ||
Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 18,727 | 22,984 | 18,410 |
Financing Receivable, Recorded Investment, Current | 2,701,332 | 2,370,467 | 2,033,177 |
Financing Receivable, Net | 2,720,059 | 2,393,451 | 2,051,587 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3,386 | 3,695 | 3,505 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,903 | 3,268 | 3,334 |
Originated Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Current | 537,766 | 409,866 | |
Financing Receivable, Net | 537,766 | 409,866 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 53 | |
Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 17,862 | 0 | 103 |
Financing Receivable, Recorded Investment, Current | 418,840 | 370,179 | 319,692 |
Financing Receivable, Net | 436,702 | 370,179 | 319,795 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,162 | 0 | 0 |
Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,020 | 3,150 | 2,968 |
Financing Receivable, Recorded Investment, Current | 1,176,782 | 1,107,186 | 995,211 |
Financing Receivable, Net | 1,180,802 | 1,110,336 | 998,179 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 249 | 569 | 535 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,591 | 1,654 | 1,329 |
Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,575 | 2,044 | 1,572 |
Financing Receivable, Recorded Investment, Current | 167,001 | 162,434 | 150,395 |
Financing Receivable, Net | 168,576 | 164,478 | 151,967 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 337 | 407 | 258 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 459 | 596 | 446 |
Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 19,322 | 22,843 | 22,434 |
Financing Receivable, Recorded Investment, Current | 633,821 | 602,440 | 557,732 |
Financing Receivable, Net | 653,143 | 625,283 | 580,166 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3,619 | 4,242 | 4,632 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 12,300 | 11,952 | 10,560 |
Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 44,905 | 75,356 | 61,650 |
Financing Receivable, Recorded Investment, Current | 2,050,779 | 2,403,824 | 2,962,137 |
Financing Receivable, Net | 2,095,684 | 2,479,180 | 3,023,787 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,648 | 3,471 | 2,551 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,052 | 8,056 | 4,982 |
Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,411 | 5,117 | 5,914 |
Financing Receivable, Recorded Investment, Current | 334,012 | 444,137 | 654,347 |
Financing Receivable, Net | 337,423 | 449,254 | 660,261 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 40 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 661 | 787 | 787 |
Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 23,941 | 30,386 | 26,444 |
Financing Receivable, Recorded Investment, Current | 510,004 | 600,288 | 757,299 |
Financing Receivable, Net | 533,945 | 630,674 | 783,743 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 44 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 5,545 | 4,171 | 1,736 |
Acquired Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Net | 6,230 | 6,971 | 13,899 |
Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 6,111 | 10,094 | 9,303 |
Financing Receivable, Recorded Investment, Current | 653,237 | 754,074 | 862,731 |
Financing Receivable, Net | 659,348 | 764,168 | 872,034 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 475 | 615 | 1,021 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 671 | 1,218 | 419 |
Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 694 | 685 | 666 |
Financing Receivable, Recorded Investment, Current | 5,536 | 6,286 | 13,233 |
Financing Receivable, Net | 6,230 | 6,971 | 13,899 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 |
Acquired Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,487 | 7,275 | 10,495 |
Financing Receivable, Recorded Investment, Current | 195,692 | 226,354 | 257,771 |
Financing Receivable, Net | 200,179 | 233,629 | 268,266 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 762 | 1,519 | 643 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 246 | 631 | 534 |
Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 6,261 | 21,799 | 8,828 |
Financing Receivable, Recorded Investment, Current | 352,298 | 372,685 | 416,756 |
Financing Receivable, Net | 358,559 | 394,484 | 425,584 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 411 | 1,293 | 847 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 929 | 1,249 | 1,506 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 7,311 | 7,915 | 11,317 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 58 | 2,929 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 664 | 234 | 643 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 23 | 25 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,256 | 1,395 | 579 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 5,391 | 6,205 | 7,141 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 52,205 | 33,099 | 29,725 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 5,837 | 2,212 | 1,094 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,758 | 2,155 | 2,010 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 483 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 11,526 | 14,621 | 11,205 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 17,862 | 0 | 103 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,268 | 1,357 | 1,549 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 679 | 668 | 677 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 9,792 | 12,086 | 13,087 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 9,920 | 25,656 | 14,565 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 33 | 92 | 1,164 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,353 | 3,479 | 1,678 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,999 | 6,204 | 6,148 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,349 | 2,819 | 5,417 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 186 | 13,062 | 158 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,524 | 2,478 | 2,786 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,959 | 1,517 | 1,702 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 163 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 246 | 870 | 540 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 319 | 91 | 381 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 8,071 | 10,116 | 8,994 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,949 | 1,162 | 1,087 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 119 | 1,460 | 1,934 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,010 | 3,647 | 3,164 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 720 | 587 | 604 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 338 | 516 | 385 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,935 | 2,744 | 1,820 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 6,201 | 9,432 | 7,993 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 99 | 234 | 511 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,115 | 3,398 | 1,162 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,029 | 2,029 | 1,859 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 785 | 2,123 | 3,089 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,173 | 1,648 | 1,372 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 45,108 | 66,803 | 111,523 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,916 | 6,041 | 6,893 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 32,076 | 47,233 | 79,916 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,701 | 6,064 | 17,278 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 34 | 44 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,454 | 3,859 | 2,036 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,961 | 3,572 | 5,356 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 19,936 | 26,329 | 33,255 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,780 | 2,670 | 6,029 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,780 | 8,864 | 14,333 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,191 | 4,716 | 4,041 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,032 | 1,206 | 815 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 558 | 860 | 510 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 7,595 | 8,013 | 7,527 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 28,784 | 40,268 | 39,092 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,279 | 4,791 | 4,239 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 17,473 | 23,509 | 23,604 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,083 | 1,861 | 1,296 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 694 | 685 | 666 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,353 | 2,333 | 1,989 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 4,902 | $ 7,089 | $ 7,298 |
Loans (Financing Receivables Cr
Loans (Financing Receivables Credit Quality Indicators) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Originated Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | $ 13,355,912 | $ 12,493,812 | $ 11,467,193 |
Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 5,471,363 | 5,175,201 | 4,857,615 |
Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 2,138,372 | 2,117,118 | 2,098,018 |
Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 586,895 | 537,766 | 409,866 |
Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 436,702 | 370,179 | 319,795 |
Originated Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 8,633,332 | 8,200,264 | 7,685,294 |
Originated Loans | Grade One | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 65,856 | 52,676 | 33,855 |
Originated Loans | Grade One | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 807 | 683 | 0 |
Originated Loans | Grade One | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 678 | 0 |
Originated Loans | Grade One | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 14,688 | 4,451 | 9,408 |
Originated Loans | Grade One | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 81,351 | 58,488 | 43,263 |
Originated Loans | Grade Two | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 206,384 | 186,278 | 134,682 |
Originated Loans | Grade Two | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,166 | 3,454 | 3,610 |
Originated Loans | Grade Two | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade Two | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 29,564 | 14,959 | 10,971 |
Originated Loans | Grade Two | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 237,114 | 204,691 | 149,263 |
Originated Loans | Grade Three | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,417,295 | 1,340,100 | 1,100,807 |
Originated Loans | Grade Three | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 367,457 | 294,281 | 290,652 |
Originated Loans | Grade Three | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 55,889 | 46,074 | 36,954 |
Originated Loans | Grade Three | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 65,664 | 71,908 | 55,648 |
Originated Loans | Grade Three | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,906,305 | 1,752,363 | 1,484,061 |
Originated Loans | Grade Four | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 3,567,387 | 3,413,446 | 3,439,210 |
Originated Loans | Grade Four | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,715,998 | 1,745,470 | 1,725,808 |
Originated Loans | Grade Four | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 529,517 | 490,757 | 371,488 |
Originated Loans | Grade Four | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 321,268 | 277,277 | 236,324 |
Originated Loans | Grade Four | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 6,134,170 | 5,926,950 | 5,772,830 |
Originated Loans | Grade Five | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 98,137 | 139,083 | 100,776 |
Originated Loans | Grade Five | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 25,466 | 29,990 | 29,382 |
Originated Loans | Grade Five | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 360 | 257 | 0 |
Originated Loans | Grade Five | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 2,956 | 1,389 | 7,092 |
Originated Loans | Grade Five | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 126,919 | 170,719 | 137,250 |
Originated Loans | Grade Six | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 112,661 | 43,618 | 48,285 |
Originated Loans | Grade Six | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 27,478 | 43,240 | 48,566 |
Originated Loans | Grade Six | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,129 | 0 | 1,424 |
Originated Loans | Grade Six | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 2,562 | 195 | 352 |
Originated Loans | Grade Six | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 143,830 | 87,053 | 98,627 |
Originated Loans | Grade Seven | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 3,643 | 0 | 0 |
Originated Loans | Grade Seven | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade Seven | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade Seven | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade Seven | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 3,643 | 0 | 0 |
Acquired Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 2,095,684 | 2,479,180 | 3,023,787 |
Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 337,423 | 449,254 | 660,261 |
Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 533,945 | 630,674 | 783,743 |
Acquired Loans | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 6,230 | 6,971 | 13,899 |
Acquired Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 877,598 | 1,086,899 | 1,457,903 |
Acquired Loans | Grade One | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,061 | 1,076 | 700 |
Acquired Loans | Grade One | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade One | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade One | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade One | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,061 | 1,076 | 700 |
Acquired Loans | Grade Two | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Three | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 17,338 | 20,891 | 35,608 |
Acquired Loans | Grade Three | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 27,190 | 24,867 | 26,652 |
Acquired Loans | Grade Three | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Three | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Three | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 44,528 | 45,758 | 62,260 |
Acquired Loans | Grade Four | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 289,027 | 376,129 | 553,293 |
Acquired Loans | Grade Four | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 453,830 | 532,447 | 651,011 |
Acquired Loans | Grade Four | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 5,536 | 6,286 | 13,899 |
Acquired Loans | Grade Four | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Four | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 748,393 | 914,862 | 1,218,203 |
Acquired Loans | Grade Five | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 13,283 | 23,268 | 41,213 |
Acquired Loans | Grade Five | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 16,815 | 28,382 | 50,267 |
Acquired Loans | Grade Five | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 685 | 0 |
Acquired Loans | Grade Five | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Five | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 30,098 | 52,335 | 91,480 |
Acquired Loans | Grade Six | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 16,714 | 27,890 | 29,447 |
Acquired Loans | Grade Six | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 36,110 | 44,978 | 55,813 |
Acquired Loans | Grade Six | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 694 | 0 | 0 |
Acquired Loans | Grade Six | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Six | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 53,518 | 72,868 | 85,260 |
Acquired Loans | Grade Seven | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 241,694 | 331,122 | 434,666 |
Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 38,137 | 48,837 | 56,423 |
Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 101,809 | 153,508 | 217,256 |
Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 5,875 | 9,262 | 19,101 |
Covered Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 145,821 | 211,607 | 292,780 |
Covered Loans | Grade One | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Construction Loans | |||
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 One | Commercial | |||
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 | 1,129 | 1,347 | 1,015 |
Covered Loans | Grade Two | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Construction Loans | |||
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 Two | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,129 | 1,347 | 1,015 |
Covered Loans | Grade Three | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Construction Loans | |||
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 Three | Commercial | |||
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 | 33,992 | 36,406 | 38,892 |
Covered Loans | Grade Four | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 65,906 | 86,779 | 104,455 |
Covered Loans | Grade Four | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 817 | 823 | 707 |
Covered Loans | Grade Four | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Four | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 100,715 | 124,008 | 144,054 |
Covered Loans | Grade Five | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 167 | 999 |
Covered Loans | Grade Five | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 625 | 3,401 | 3,984 |
Covered Loans | Grade Five | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Five | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Five | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 625 | 3,568 | 4,983 |
Covered Loans | Grade Six | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 3,016 | 10,917 | 15,517 |
Covered Loans | Grade Six | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 35,278 | 63,328 | 108,637 |
Covered Loans | Grade Six | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 5,058 | 8,248 | 18,045 |
Covered Loans | Grade Six | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Six | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 43,352 | 82,493 | 142,199 |
Covered Loans | Grade Seven | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Seven | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 180 |
Covered Loans | Grade Seven | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 191 | 349 |
Covered Loans | Grade Seven | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Seven | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | $ 0 | $ 191 | $ 529 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Commercial | $ 9,220,049 | $ 9,116,184 | $ 9,220,049 | $ 9,116,184 | $ 9,128,591 | |
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 | $ 5,400 | 6,100 | 5,400 | 6,100 | 5,400 | |
Days past due for nonaccrual status credit card loans | 120 days | |||||
Acquired Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Net reclassifications from nonaccretable to accretable | $ 8,217 | $ 21,212 | 10,499 | 30,013 | ||
Covered impaired loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 351,100 | 637,600 | 351,100 | 637,600 | ||
Acquired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Commercial | 877,598 | 1,457,903 | 877,598 | 1,457,903 | $ 1,086,899 | |
Covered impaired loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Net reclassifications from nonaccretable to accretable | 2,136 | 5,549 | 2,080 | 11,606 | ||
Impaired loans | Acquired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | $ 504,700 | $ 714,200 | $ 504,700 | $ 714,200 |
Allowance for Loan Losses Sched
Allowance for Loan Losses Schedule of Credit Losses Related to Originated Financing Receivables, Current (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Provision for Loan and Lease Losses | $ 8,966 | $ 15,253 | $ 17,214 | $ 29,790 | |||||
Financing Receivable, Allowance for Credit Losses, Write-downs | 1,600 | 3,800 | |||||||
Provision for Loan, Lease, and Other Losses | 8,966 | 15,253 | 17,214 | 29,790 | |||||
Covered impaired loan | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Provision for Loan and Lease Losses | (891) | 3,446 | (893) | 6,501 | |||||
Originated Loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 101,682 | 91,950 | 101,682 | 91,950 | $ 97,545 | $ 95,696 | $ 92,116 | $ 96,484 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (11,298) | (11,148) | (19,865) | (24,308) | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 4,626 | 4,989 | 9,006 | 10,127 | |||||
Provision for Loan, Lease, and Other Losses | (10,809) | (5,993) | (16,845) | (9,647) | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 11,626 | 7,802 | 11,626 | 7,802 | 5,950 | ||||
Impaired Financing Receivable, Related Allowance | [1] | 11,626 | 7,802 | 11,626 | 7,802 | 5,950 | |||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 90,056 | 84,148 | 90,056 | 84,148 | 89,746 | ||||
Financing Receivable, Individually Evaluated for Impairment | 124,035 | 94,567 | 124,035 | 94,567 | 93,448 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 13,231,877 | 11,372,626 | 13,231,877 | 11,372,626 | 12,400,364 | ||||
Financing Receivable, Net | 13,355,912 | 11,467,193 | 13,355,912 | 11,467,193 | 12,493,812 | ||||
Originated Loans | Credit Card Receivable | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 361 | 361 | 296 | |||||
Financing Receivable, Net | 168,576 | 151,967 | 168,576 | 151,967 | 164,478 | ||||
Originated Loans | Commercial Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 42,876 | 43,256 | 42,876 | 43,256 | 39,838 | 37,375 | 40,175 | 42,981 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (361) | (3,757) | (5,435) | ||||||
Financing Receivable, Allowance for Credit Losses, Recovery | 372 | 794 | 1,369 | ||||||
Provision for Loan, Lease, and Other Losses | (3,070) | (8,464) | (4,341) | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 9,117 | 5,092 | 9,117 | 5,092 | 72 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 33,759 | 38,164 | 33,759 | 38,164 | 37,303 | ||||
Financing Receivable, Individually Evaluated for Impairment | 45,969 | 10,404 | 45,969 | 10,404 | 11,759 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 5,425,394 | 4,847,211 | 5,425,394 | 4,847,211 | 5,163,442 | ||||
Financing Receivable, Net | 5,471,363 | 4,857,615 | 5,471,363 | 4,857,615 | 5,175,201 | ||||
Originated Loans | Commercial Real Estate Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 8,500 | 8,730 | 8,500 | 8,730 | 8,813 | 10,492 | 13,385 | 12,265 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (408) | (2,696) | (623) | (2,775) | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 1 | 30 | 1 | 34 | |||||
Provision for Loan, Lease, and Other Losses | (94) | 1,989 | 1,370 | 794 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 151 | 112 | 151 | 112 | 2,914 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 8,349 | 8,618 | 8,349 | 8,618 | 7,578 | ||||
Financing Receivable, Individually Evaluated for Impairment | 12,072 | 25,484 | 12,072 | 25,484 | 23,300 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 2,126,300 | 2,072,534 | 2,126,300 | 2,072,534 | 2,093,818 | ||||
Financing Receivable, Net | 2,138,372 | 2,098,018 | 2,138,372 | 2,098,018 | 2,117,118 | ||||
Originated Loans | Commercial Construction Financing Receivable Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 1,540 | 1,323 | 1,540 | 1,323 | 1,752 | 2,202 | 1,470 | 2,810 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | 0 | 0 | 0 | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 39 | 2 | 40 | 30 | |||||
Provision for Loan, Lease, and Other Losses | 251 | 149 | 702 | 1,517 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 9 | 0 | 9 | 0 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,540 | 1,314 | 1,540 | 1,314 | 2,202 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 53 | 0 | 53 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 586,895 | 409,813 | 586,895 | 409,813 | 537,766 | ||||
Financing Receivable, Net | 586,895 | 409,866 | 586,895 | 409,866 | 537,766 | ||||
Originated Loans | Finance Leases Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 619 | 1,028 | 619 | 1,028 | 629 | 674 | 1,027 | 1,081 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | 0 | 0 | 0 | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 3 | 372 | 7 | 372 | |||||
Provision for Loan, Lease, and Other Losses | 13 | 371 | 62 | 425 | |||||
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 | 619 | 1,028 | 619 | 1,028 | 674 | ||||
Financing Receivable, Individually Evaluated for Impairment | 1,162 | 0 | 1,162 | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 435,540 | 319,795 | 435,540 | 319,795 | 370,179 | ||||
Financing Receivable, Net | 436,702 | 319,795 | 436,702 | 319,795 | 370,179 | ||||
Originated Loans | Installment Financing Receivable Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 14,910 | 12,243 | 14,910 | 12,243 | 13,358 | 12,918 | 11,604 | 11,935 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (5,090) | (4,076) | (10,145) | (8,660) | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 2,844 | 2,741 | 5,864 | 5,490 | |||||
Provision for Loan, Lease, and Other Losses | (3,798) | (1,974) | (6,273) | (3,478) | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,008 | 1,008 | 1,178 | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 13,909 | 11,235 | 13,909 | 11,235 | 11,740 | ||||
Financing Receivable, Individually Evaluated for Impairment | 31,927 | 24,394 | 31,927 | 24,394 | 24,905 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 2,688,132 | 2,027,193 | 2,688,132 | 2,027,193 | 2,368,546 | ||||
Financing Receivable, Net | 2,720,059 | 2,051,587 | 2,720,059 | 2,051,587 | 2,393,451 | ||||
Originated Loans | Home Equity Receivable Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 20,039 | 13,903 | 20,039 | 13,903 | 19,433 | 19,324 | 13,160 | 12,900 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (971) | (1,870) | (1,882) | (3,279) | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 839 | 966 | 1,452 | 1,870 | |||||
Provision for Loan, Lease, and Other Losses | (738) | (1,647) | (1,145) | (2,412) | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 201 | 201 | 207 | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 19,822 | 13,702 | 19,822 | 13,702 | 19,117 | ||||
Financing Receivable, Individually Evaluated for Impairment | 7,421 | 6,956 | 7,421 | 6,956 | 7,379 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 1,173,381 | 991,223 | 1,173,381 | 991,223 | 1,102,957 | ||||
Financing Receivable, Net | 1,180,802 | 998,179 | 1,180,802 | 998,179 | 1,110,336 | ||||
Originated Loans | Credit Card Receivables Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 7,818 | 7,328 | 7,818 | 7,328 | 7,801 | 7,966 | 6,851 | 7,740 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (1,209) | (1,311) | (2,661) | (2,766) | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 358 | 439 | 724 | 857 | |||||
Provision for Loan, Lease, and Other Losses | (868) | (1,349) | (1,789) | (1,497) | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 361 | 361 | 296 | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 7,568 | 6,967 | 7,568 | 6,967 | 7,670 | ||||
Financing Receivable, Individually Evaluated for Impairment | 787 | 979 | 787 | 979 | 854 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 167,789 | 150,988 | 167,789 | 150,988 | 163,624 | ||||
Financing Receivable, Net | 168,576 | 151,967 | 168,576 | 151,967 | 164,478 | ||||
Originated Loans | Residential Portfolio Segment | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 5,380 | 4,139 | 5,380 | 4,139 | $ 5,921 | 4,745 | $ 4,444 | $ 4,772 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (373) | (834) | (797) | (1,393) | |||||
Financing Receivable, Allowance for Credit Losses, Recovery | 89 | 67 | 124 | 105 | |||||
Provision for Loan, Lease, and Other Losses | 257 | (462) | (1,308) | (655) | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 1,019 | 1,019 | 1,283 | |||||
Impaired Financing Receivable, Related Allowance | [1] | 890 | 890 | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 4,490 | 3,120 | 4,490 | 3,120 | 3,462 | ||||
Financing Receivable, Individually Evaluated for Impairment | 24,697 | 26,297 | 24,697 | 26,297 | 25,251 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 628,446 | 553,869 | 628,446 | 553,869 | 600,032 | ||||
Financing Receivable, Net | 653,143 | 580,166 | 653,143 | 580,166 | 625,283 | ||||
Originated Loans | Commercial and Industrial | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses, Write-downs | (3,247) | ||||||||
Financing Receivable, Allowance for Credit Losses, Recovery | 453 | ||||||||
Provision for Loan, Lease, and Other Losses | (5,832) | ||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 5,092 | 5,092 | 72 | |||||
Financing Receivable, Net | $ 5,471,363 | $ 4,857,615 | $ 5,471,363 | $ 4,857,615 | $ 5,175,201 | ||||
[1] | Note 1: These tables exclude loans fully charged off.Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. |
Allowance for Loan Losses Sch51
Allowance for Loan Losses Schedule of Credit Losses Related to Acquired Financing Receivables, Current (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
allowance for acquired impaired loan losses [Line Items] | ||||||||
Provision for Loan and Lease Losses | $ 8,966 | $ 15,253 | $ 17,214 | $ 29,790 | ||||
Acquired Loans | ||||||||
allowance for acquired impaired loan losses [Line Items] | ||||||||
Provision for Loan and Lease Losses | (2,543) | 2,003 | 4,236 | |||||
Financing Receivable, Allowance for Credit Losses | 4,950 | 4,977 | 4,950 | 4,977 | $ 7,493 | $ 7,457 | $ 2,974 | $ 741 |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Allowance for Credit Losses, Recovery | $ 0 | $ 0 | $ 0 | $ 0 |
Allowance for Loan Losses Sch52
Allowance for Loan Losses Schedule of Credit Losses Related to Covered Financing Receivables, Current Period (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Provision for Loan and Lease Losses | $ 8,966 | $ 15,253 | $ 17,214 | $ 29,790 |
Covered impaired loan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of the period | 41,514 | 49,970 | 40,496 | 44,027 |
Provision for Loan Losses Before Benefit Attributable to FDIC Loss Share Agreements | 928 | (451) | 5,153 | 7,428 |
Benefit Attributable to FDIC Loss Share Agreements | (1,819) | 3,897 | (6,046) | (927) |
Provision for Loan and Lease Losses | (891) | 3,446 | (893) | 6,501 |
Increase in Indemnification Asset | 1,819 | (3,897) | 6,046 | 927 |
Allowance for Loan and Lease Losses, Write-offs | (815) | (4,410) | (4,022) | (6,346) |
Balance at end of the period | $ 41,627 | $ 45,109 | $ 41,627 | $ 45,109 |
Allowance for Loan Losses Impai
Allowance for Loan Losses Impaired Financing Receivables (Details) - Originated Loans - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | ||
Financing Receivable, Impaired [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 11,626 | $ 7,802 | $ 5,950 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 25,722 | ||
Impaired Financing Receivable, Recorded Investment | [1] | 124,035 | 94,567 | 93,448 |
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 143,140 | 110,385 | 110,055 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 30,249 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 30,302 | ||
Impaired Financing Receivable, Related Allowance | [1] | 11,626 | 7,802 | 5,950 |
Impaired Financing Receivable, Average Recorded Investment | [1] | 109,353 | 94,651 | 95,108 |
Credit Card Receivable | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 19 | 34 | 16 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 19 | 34 | 16 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 361 | 296 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 823 | 1,019 | 966 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 26 | 48 | 32 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 768 | 945 | 838 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 768 | 945 | 838 |
Residential Portfolio Segment | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 12,047 | 12,729 | 12,204 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 14,700 | 15,748 | 15,119 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 1,019 | 1,283 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 12,675 | 13,612 | 13,121 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 12,146 | 12,828 | 12,425 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 12,650 | 13,568 | 13,047 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 12,739 | 13,678 | 13,158 |
Impaired Financing Receivable, Related Allowance | [1] | 890 | ||
Commercial and Industrial | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 28,076 | 2,538 | 11,451 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 37,358 | 4,980 | 18,207 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 5,092 | 72 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 7,199 | 8,071 | 326 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 27,238 | 3,543 | 14,193 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 17,893 | 7,866 | 308 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 18,062 | 11,562 | 344 |
Commercial Real Estate | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 11,482 | 20,635 | 16,874 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 17,585 | 26,026 | 22,696 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 112 | 2,914 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 600 | 829 | 4,497 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 12,983 | 22,249 | 18,027 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 590 | 4,849 | 6,426 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 593 | 4,851 | 6,440 |
Construction Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 0 | 53 | 0 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 0 | 76 | 0 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 9 | 0 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 0 | 0 | 0 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 0 | 256 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 0 | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 0 | 0 | 0 |
Finance Leases Portfolio Segment | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 1,162 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 1,162 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 598 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 0 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 0 | ||
Home equity lines | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 884 | 1,041 | 1,723 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 1,132 | 1,047 | 1,754 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 201 | 207 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 6,684 | 5,995 | 5,944 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 906 | 1,067 | 1,792 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 6,537 | 5,915 | 5,656 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 6,537 | 6,145 | 5,875 |
Total impaired loans with no related allowance | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 55,348 | 41,540 | 46,728 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 74,139 | 52,531 | 62,376 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | 55,650 | 44,627 | 50,741 |
Total impaired loans with a related allowance | ||||
Financing Receivable, Impaired [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 11,626 | 7,802 | 5,950 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 53,703 | 50,024 | 44,367 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 68,687 | 53,027 | 46,720 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | 69,001 | 57,854 | 47,679 |
Installment | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 1,678 | 4,510 | 4,460 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | [1] | 2,183 | 4,620 | 4,584 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | [1] | 1,008 | 1,178 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | [1] | 20,498 | 19,513 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | [1] | $ 1,753 | 4,636 | 4,272 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [1] | 19,884 | 20,445 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | [1] | $ 20,673 | $ 21,024 | |
[1] | Note 1: These tables exclude loans fully charged off.Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. |
Allowance for Loan Losses Troub
Allowance for Loan Losses Troubled Debt Restructuring on Financing Receivables (Details) $ in Thousands | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2014USD ($) | ||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 138,986 | $ 130,458 | $ 144,956 | ||||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 182,187 | $ 173,976 | $ 196,522 | ||||
financing receivables, modifications, number of contracts at period end | 2,568 | 2,494 | 2,568 | ||||
Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 104,648 | $ 83,119 | $ 87,148 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 120,599 | $ 98,900 | $ 101,733 | |||
financing receivables, modifications, number of contracts at period end | 2,189 | 2,167 | 2,321 | ||||
Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 11,362 | $ 12,100 | $ 8,815 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 11,891 | $ 12,474 | $ 9,082 | |||
financing receivables, modifications, number of contracts at period end | 260 | 216 | 143 | ||||
Covered Consumer Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 10,747 | $ 9,224 | $ 8,826 | ||||
Covered TDR Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 22,976 | 35,239 | 48,993 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 49,697 | $ 62,602 | $ 85,707 | |||
financing receivables, modifications, number of contracts at period end | 119 | 111 | 104 | ||||
Commercial and Industrial | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 29,454 | $ 7,318 | $ 7,243 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 37,892 | $ 15,495 | $ 14,274 | |||
financing receivables, modifications, number of contracts at period end | 66 | 51 | 48 | ||||
Commercial and Industrial | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 29,454 | $ 7,123 | $ 7,062 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 36,538 | $ 13,887 | $ 13,200 | |||
financing receivables, modifications, number of contracts at period end | 56 | 41 | 41 | ||||
Commercial and Industrial | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 0 | $ 18 | $ 4 | ||||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 55 | $ 19 | $ 4 | ||||
financing receivables, modifications, number of contracts at period end | 2 | 2 | 1 | ||||
Commercial and Industrial | Covered Loans Commercial | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 0 | $ 177 | $ 177 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 1,299 | $ 1,589 | $ 1,070 | |||
financing receivables, modifications, number of contracts at period end | 8 | 8 | 6 | ||||
Commercial Real Estate | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 22,996 | $ 45,648 | $ 60,453 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 44,632 | $ 67,466 | $ 81,708 | |||
financing receivables, modifications, number of contracts at period end | 96 | 94 | 85 | ||||
Commercial Real Estate | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 10,362 | $ 17,607 | $ 21,407 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 15,681 | $ 22,645 | $ 25,567 | |||
financing receivables, modifications, number of contracts at period end | 69 | 67 | 60 | ||||
Commercial Real Estate | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 930 | $ 2,542 | $ 1,661 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 1,018 | $ 2,595 | $ 1,661 | |||
financing receivables, modifications, number of contracts at period end | 3 | 3 | 1 | ||||
Commercial Real Estate | Covered Loans Commercial | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 11,704 | $ 25,499 | $ 37,385 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 27,933 | $ 42,226 | $ 54,480 | |||
financing receivables, modifications, number of contracts at period end | 24 | 24 | 24 | ||||
Commercial | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 2,560 | $ 1,665 | ||||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 2,614 | $ 1,665 | ||||
financing receivables, modifications, number of contracts at period end | 5 | 2 | |||||
Construction Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 525 | $ 339 | $ 2,658 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 9,542 | $ 9,552 | $ 21,407 | |||
financing receivables, modifications, number of contracts at period end | 40 | 40 | 41 | ||||
Construction Loans | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 0 | $ 0 | $ 53 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 0 | $ 0 | $ 76 | |||
financing receivables, modifications, number of contracts at period end | 31 | 31 | 31 | ||||
Construction Loans | Covered Loans Commercial | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 525 | $ 339 | $ 2,605 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 9,542 | $ 9,552 | $ 21,331 | |||
financing receivables, modifications, number of contracts at period end | 9 | 9 | 10 | ||||
Commercial Loan | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 52,975 | $ 53,305 | $ 70,354 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 92,066 | $ 92,513 | $ 117,389 | |||
financing receivables, modifications, number of contracts at period end | 202 | 185 | 174 | ||||
Commercial Loan | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 39,816 | $ 24,730 | $ 28,522 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 52,219 | $ 36,532 | $ 38,843 | |||
financing receivables, modifications, number of contracts at period end | 156 | 139 | 132 | ||||
Commercial Loan | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 930 | $ 2,560 | $ 1,665 | ||||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 1,073 | ||||||
financing receivables, modifications, number of contracts at period end | 5 | ||||||
Commercial Loan | Covered Loans Commercial | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 12,229 | 26,015 | 40,167 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 38,774 | $ 53,367 | $ 76,881 | |||
financing receivables, modifications, number of contracts at period end | 41 | 41 | 40 | ||||
Commercial Loan | Covered TDR Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 40,167 | ||||||
Consumer Loan | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 86,011 | $ 77,153 | 74,602 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 90,121 | $ 81,463 | $ 79,133 | |||
financing receivables, modifications, number of contracts at period end | 2,366 | 2,309 | 2,394 | ||||
Consumer Loan | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 64,832 | $ 58,389 | $ 58,626 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 68,380 | $ 62,368 | $ 62,890 | |||
financing receivables, modifications, number of contracts at period end | 2,033 | 2,028 | 2,189 | ||||
Consumer Loan | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 10,432 | [1] | $ 9,540 | $ 7,150 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 10,818 | [1] | $ 9,860 | $ 7,417 | |||
financing receivables, modifications, number of contracts at period end | 255 | 211 | 141 | ||||
Consumer Loan | Covered Consumer Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 9,224 | [1] | $ 8,826 | ||||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 9,235 | [1] | $ 8,826 | ||||
financing receivables, modifications, number of contracts at period end | 70 | 64 | |||||
Consumer Loan | Covered TDR Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 10,747 | |||||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 10,923 | |||||
financing receivables, modifications, number of contracts at period end | 78 | ||||||
Residential Mortgages | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 27,031 | $ 27,218 | $ 28,095 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 30,009 | $ 30,434 | $ 31,398 | |||
financing receivables, modifications, number of contracts at period end | 348 | 343 | 349 | ||||
Residential Mortgages | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 24,697 | $ 25,251 | $ 26,297 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 27,439 | $ 28,277 | $ 29,426 | |||
financing receivables, modifications, number of contracts at period end | 316 | 315 | 326 | ||||
Residential Mortgages | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 2,150 | $ 1,633 | [1] | $ 1,461 | [1] | ||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 2,386 | $ 1,823 | [1] | $ 1,635 | [1] | ||
financing receivables, modifications, number of contracts at period end | 31 | 26 | 21 | ||||
Residential Mortgages | Covered Consumer Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 184 | [1] | $ 334 | [1] | $ 337 | ||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 184 | $ 334 | ||||
financing receivables, modifications, number of contracts at period end | 1 | 2 | |||||
Credit Card Receivable | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 787 | [1] | $ 854 | [1] | 979 | ||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 787 | [1] | $ 854 | [1] | $ 979 | ||
financing receivables, modifications, number of contracts at period end | 231 | 238 | 253 | ||||
Credit Card Receivable | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 787 | $ 854 | $ 979 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 787 | $ 854 | $ 979 | |||
financing receivables, modifications, number of contracts at period end | 231 | 238 | 253 | ||||
Home Equity Line of Credit | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 25,122 | $ 23,201 | $ 20,155 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 25,613 | $ 23,513 | $ 20,431 | |||
financing receivables, modifications, number of contracts at period end | 522 | 483 | 412 | ||||
Home Equity Line of Credit | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 7,421 | $ 7,379 | $ 6,956 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 7,669 | $ 7,629 | $ 7,192 | |||
financing receivables, modifications, number of contracts at period end | 271 | 270 | 260 | ||||
Home Equity Line of Credit | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 7,138 | $ 6,932 | $ 4,710 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 7,205 | $ 6,983 | $ 4,750 | |||
financing receivables, modifications, number of contracts at period end | 174 | 145 | 90 | ||||
Home Equity Line of Credit | Covered Consumer Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 10,563 | $ 8,890 | $ 8,489 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 10,739 | $ 8,901 | $ 8,489 | |||
financing receivables, modifications, number of contracts at period end | 77 | 68 | 62 | ||||
Residential Real Estate | Covered TDR Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 337 | ||||||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 337 | ||||||
financing receivables, modifications, number of contracts at period end | 2 | ||||||
Installment | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 33,071 | $ 25,880 | $ 25,373 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 33,712 | $ 26,662 | $ 26,325 | |||
financing receivables, modifications, number of contracts at period end | 1,265 | 1,245 | 1,380 | ||||
Installment | Originated Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | $ 31,927 | $ 24,905 | $ 24,394 | |||
Financing Receiables, Modifications, Unpaid Principal Balance | [1] | $ 32,485 | $ 25,608 | $ 25,293 | |||
financing receivables, modifications, number of contracts at period end | 1,215 | 1,205 | 1,350 | ||||
Installment | Acquired Loans | |||||||
Financing Receivable, Modifications [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 1,144 | $ 975 | $ 979 | ||||
Financing Receiables, Modifications, Unpaid Principal Balance | $ 1,227 | $ 1,054 | $ 1,032 | ||||
financing receivables, modifications, number of contracts at period end | 50 | 40 | 30 | ||||
[1] | Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge offs. |
Allowance for Loan Losses Accru
Allowance for Loan Losses Accruing and Non-Accruing Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | ||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 138,986 | $ 130,458 | $ 144,956 | ||||
Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 13,275,700 | 12,424,268 | 11,395,219 | ||||
Financing Receivable, Recorded Investment, Past Due | 80,212 | 69,544 | 71,974 | ||||
Financing Receivable, Modifications, Recorded Investment | [1] | 104,648 | 83,119 | 87,148 | |||
Impaired Financing Receivable, Related Allowance | [2] | 11,626 | 5,950 | 7,802 | |||
Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 2,050,779 | 2,403,824 | 2,962,137 | ||||
Financing Receivable, Recorded Investment, Past Due | 44,905 | 75,356 | 61,650 | ||||
Financing Receivable, Modifications, Recorded Investment | [1] | 11,362 | 12,100 | 8,815 | |||
Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 10,747 | 9,224 | 8,826 | ||||
Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 22,976 | 35,239 | 48,993 | |||
Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 84,600 | 81,339 | |||||
Financing Receivable, Recorded Investment, Past Due | 26,792 | 40,379 | |||||
Financing Receivable, Modifications, Recorded Investment | 111,392 | 121,718 | |||||
Accruing TDRs | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 74,249 | 62,333 | 60,330 | ||||
Financing Receivable, Recorded Investment, Past Due | 2,915 | 5,545 | 4,846 | ||||
Financing Receivable, Modifications, Recorded Investment | 77,164 | 67,878 | 65,176 | ||||
Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 8,782 | 7,910 | 7,059 | ||||
Financing Receivable, Recorded Investment, Past Due | 665 | 694 | 826 | ||||
Financing Receivable, Modifications, Recorded Investment | 9,447 | 8,604 | 7,885 | ||||
Accruing TDRs | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 9,689 | 8,895 | 8,375 | ||||
Financing Receivable, Recorded Investment, Past Due | 89 | 0 | 115 | ||||
Financing Receivable, Modifications, Recorded Investment | 9,778 | 8,895 | 8,490 | ||||
Accruing TDRs | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 10,214 | 14,357 | 13,950 | ||||
Financing Receivable, Recorded Investment, Past Due | 11,793 | 20,553 | 34,707 | ||||
Financing Receivable, Modifications, Recorded Investment | 22,007 | 34,910 | 48,657 | ||||
Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 9,892 | 14,496 | |||||
Financing Receivable, Recorded Investment, Past Due | 9,174 | 8,742 | |||||
Financing Receivable, Modifications, Recorded Investment | 19,066 | 23,238 | |||||
Nonaccruing TDRs | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 17,762 | 7,949 | 13,257 | ||||
Financing Receivable, Recorded Investment, Past Due | 9,722 | 7,292 | 8,715 | ||||
Financing Receivable, Modifications, Recorded Investment | 27,484 | 15,241 | 21,972 | ||||
Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 1,693 | 1,614 | 903 | ||||
Financing Receivable, Recorded Investment, Past Due | 222 | 1,882 | 27 | ||||
Financing Receivable, Modifications, Recorded Investment | 1,915 | 3,496 | 930 | ||||
Nonaccruing TDRs | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 143 | 329 | 336 | ||||
Financing Receivable, Recorded Investment, Past Due | 826 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 969 | 329 | 336 | ||||
Nonaccruing TDRs | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 143 | 329 | 336 | ||||
Financing Receivable, Recorded Investment, Past Due | 826 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 969 | 329 | 336 | ||||
Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 7,968 | 6,645 | 6,531 | ||||
Total Tdr Allowance | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 5,314 | 3,195 | 5,134 | ||||
Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 142 | 228 | 200 | ||||
Total Tdr Allowance | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 23 | 48 | 0 | ||||
Total Tdr Allowance | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,512 | 3,222 | 1,197 | ||||
Commercial and Industrial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 29,454 | 7,318 | 7,243 | |||
Commercial and Industrial | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 29,454 | 7,123 | 7,062 | ||||
Commercial and Industrial | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 5,459,797 | 5,169,157 | 4,849,405 | ||||
Financing Receivable, Recorded Investment, Past Due | 11,566 | 6,044 | 8,210 | ||||
Financing Receivable, Modifications, Recorded Investment | [1] | 29,454 | 7,123 | 7,062 | |||
Commercial and Industrial | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 334,012 | 444,137 | 654,347 | ||||
Financing Receivable, Recorded Investment, Past Due | 3,411 | 5,117 | 5,914 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 18 | 4 | ||||
Commercial and Industrial | Covered Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 0 | 177 | 177 | |||
Commercial and Industrial | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 177 | 177 | ||||
Commercial and Industrial | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 17,346 | 6,755 | 1,659 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 177 | 177 | ||||
Financing Receivable, Modifications, Recorded Investment | 17,346 | 6,932 | 1,836 | ||||
Commercial and Industrial | Accruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 17,346 | 6,740 | 1,659 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 17,346 | 6,740 | 1,659 | ||||
Commercial and Industrial | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 15 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 15 | 0 | ||||
Commercial and Industrial | Accruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 177 | 177 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 177 | 177 | ||||
Commercial and Industrial | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 9,260 | 3 | 3,379 | ||||
Financing Receivable, Recorded Investment, Past Due | 2,848 | 383 | 2,028 | ||||
Financing Receivable, Modifications, Recorded Investment | 12,108 | 386 | 5,407 | ||||
Commercial and Industrial | Nonaccruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 9,260 | 0 | 3,375 | ||||
Financing Receivable, Recorded Investment, Past Due | 2,848 | 383 | 2,028 | ||||
Financing Receivable, Modifications, Recorded Investment | 12,108 | 383 | 5,403 | ||||
Commercial and Industrial | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 3 | 4 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 3 | 4 | ||||
Commercial and Industrial | Nonaccruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | ||||
Commercial and Industrial | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,893 | 90 | 2,447 | ||||
Commercial and Industrial | Total Tdr Allowance | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,893 | 72 | 2,443 | ||||
Commercial and Industrial | Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 0 | 18 | 4 | ||||
Commercial and Industrial | Total Tdr Allowance | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||||
Commercial Loan | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 52,975 | 53,305 | 70,354 | |||
Commercial Loan | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 39,816 | 24,730 | 28,522 | ||||
Commercial Loan | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 39,816 | 24,730 | 28,522 | |||
Commercial Loan | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 930 | 2,560 | 1,665 | ||||
Commercial Loan | Covered Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 12,229 | 26,015 | 40,167 | |||
Commercial Loan | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 12,229 | 26,015 | |||||
Commercial Loan | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 40,167 | ||||||
Commercial Loan | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 23,839 | 25,102 | 24,282 | ||||
Financing Receivable, Recorded Investment, Past Due | 11,704 | 21,505 | 36,121 | ||||
Financing Receivable, Modifications, Recorded Investment | 35,543 | 46,607 | 60,403 | ||||
Commercial Loan | Accruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 23,314 | 19,625 | 17,046 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 952 | 1,529 | ||||
Financing Receivable, Modifications, Recorded Investment | 23,314 | 20,577 | 18,575 | ||||
Commercial Loan | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 15 | 1,661 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 15 | 1,661 | ||||
Commercial Loan | Accruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 525 | 5,462 | |||||
Financing Receivable, Recorded Investment, Past Due | 11,704 | 20,553 | |||||
Financing Receivable, Modifications, Recorded Investment | 12,229 | 26,015 | |||||
Commercial Loan | Accruing TDRs | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 5,575 | ||||||
Financing Receivable, Recorded Investment, Past Due | 34,592 | ||||||
Financing Receivable, Modifications, Recorded Investment | 40,167 | ||||||
Commercial Loan | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 11,788 | 1,375 | 4,851 | ||||
Financing Receivable, Recorded Investment, Past Due | 5,644 | 5,323 | 5,100 | ||||
Financing Receivable, Modifications, Recorded Investment | 17,432 | 6,698 | 9,951 | ||||
Commercial Loan | Nonaccruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 10,858 | 394 | 4,847 | ||||
Financing Receivable, Recorded Investment, Past Due | 5,644 | 3,759 | 5,100 | ||||
Financing Receivable, Modifications, Recorded Investment | 16,502 | 4,153 | 9,947 | ||||
Commercial Loan | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 930 | 981 | 4 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 1,564 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 930 | 2,545 | 4 | ||||
Commercial Loan | Nonaccruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | |||||
Commercial Loan | Nonaccruing TDRs | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | ||||||
Financing Receivable, Recorded Investment, Past Due | 0 | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | ||||||
Commercial Loan | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 5,543 | 3,557 | 3,928 | ||||
Commercial Loan | Total Tdr Allowance | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,956 | 231 | 2,545 | ||||
Commercial Loan | Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 98 | 152 | 186 | ||||
Commercial Loan | Total Tdr Allowance | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,489 | 3,174 | |||||
Commercial Loan | Total Tdr Allowance | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 1,197 | ||||||
Construction Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 525 | 339 | 2,658 | |||
Construction Loans | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 53 | ||||
Construction Loans | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 586,412 | ||||||
Financing Receivable, Recorded Investment, Past Due | 483 | ||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 0 | 0 | 53 | |||
Construction Loans | Covered Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 525 | 339 | 2,605 | |||
Construction Loans | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 525 | 339 | 2,605 | ||||
Construction Loans | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 525 | 339 | 666 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 1,939 | ||||
Financing Receivable, Modifications, Recorded Investment | 525 | 339 | 2,605 | ||||
Construction Loans | Accruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | ||||
Construction Loans | Accruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 525 | 339 | 666 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 1,939 | ||||
Financing Receivable, Modifications, Recorded Investment | 525 | 339 | 2,605 | ||||
Construction Loans | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 53 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 53 | ||||
Construction Loans | Nonaccruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 53 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 53 | ||||
Construction Loans | Nonaccruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | ||||
Construction Loans | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 96 | 295 | 77 | ||||
Construction Loans | Total Tdr Allowance | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 9 | ||||
Construction Loans | Total Tdr Allowance | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 96 | 295 | 68 | ||||
Consumer Home Equity Lines Financing Receivable | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 25,122 | 23,201 | 20,155 | ||||
Consumer Home Equity Lines Financing Receivable | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 7,421 | 7,379 | 6,956 | ||||
Consumer Home Equity Lines Financing Receivable | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 7,138 | 6,932 | 4,710 | ||||
Consumer Home Equity Lines Financing Receivable | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 10,563 | 8,890 | 8,489 | ||||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 22,503 | 20,986 | 17,831 | ||||
Financing Receivable, Recorded Investment, Past Due | 814 | 876 | 879 | ||||
Financing Receivable, Modifications, Recorded Investment | 23,317 | 21,862 | 18,710 | ||||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 6,611 | 6,239 | 5,767 | ||||
Financing Receivable, Recorded Investment, Past Due | 107 | 269 | 188 | ||||
Financing Receivable, Modifications, Recorded Investment | 6,718 | 6,508 | 5,955 | ||||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 6,387 | 6,186 | 4,026 | ||||
Financing Receivable, Recorded Investment, Past Due | 618 | 607 | 576 | ||||
Financing Receivable, Modifications, Recorded Investment | 7,005 | 6,793 | 4,602 | ||||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 9,505 | 8,561 | 8,038 | ||||
Financing Receivable, Recorded Investment, Past Due | 89 | 0 | 115 | ||||
Financing Receivable, Modifications, Recorded Investment | 9,594 | 8,561 | 8,153 | ||||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 833 | 1,339 | 1,445 | ||||
Financing Receivable, Recorded Investment, Past Due | 972 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 1,805 | 1,339 | 1,445 | ||||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 557 | 871 | 1,001 | ||||
Financing Receivable, Recorded Investment, Past Due | 146 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 703 | 871 | 1,001 | ||||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 133 | 139 | 108 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 133 | 139 | 108 | ||||
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 143 | 329 | 336 | ||||
Financing Receivable, Recorded Investment, Past Due | 826 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 969 | 329 | 336 | ||||
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 240 | 243 | 201 | ||||
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 | 217 | 207 | 201 | ||||
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 | 9 | 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 | 23 | 27 | 0 | ||||
Consumer Residential Mortgages Financing Receivable | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 27,031 | 28,095 | |||||
Consumer Residential Mortgages Financing Receivable | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 26,297 | ||||||
Consumer Residential Mortgages Financing Receivable | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 1,461 | ||||||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 15,422 | 16,263 | |||||
Financing Receivable, Recorded Investment, Past Due | 2,105 | 2,349 | |||||
Financing Receivable, Modifications, Recorded Investment | 17,527 | 18,612 | |||||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 15,256 | ||||||
Financing Receivable, Recorded Investment, Past Due | 2,349 | ||||||
Financing Receivable, Modifications, Recorded Investment | 17,605 | ||||||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 670 | ||||||
Financing Receivable, Recorded Investment, Past Due | 0 | ||||||
Financing Receivable, Modifications, Recorded Investment | 670 | ||||||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 5,572 | 6,099 | |||||
Financing Receivable, Recorded Investment, Past Due | 3,932 | 3,384 | |||||
Financing Receivable, Modifications, Recorded Investment | 9,504 | 9,483 | |||||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 5,335 | ||||||
Financing Receivable, Recorded Investment, Past Due | 3,357 | ||||||
Financing Receivable, Modifications, Recorded Investment | 8,692 | ||||||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 764 | ||||||
Financing Receivable, Recorded Investment, Past Due | 27 | ||||||
Financing Receivable, Modifications, Recorded Investment | 791 | ||||||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 890 | 1,019 | |||||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 1,019 | ||||||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 0 | ||||||
Commercial Real Estate | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 22,996 | 45,648 | 60,453 | |||
Commercial Real Estate | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 10,362 | 17,607 | 21,407 | ||||
Commercial Real Estate | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 10,362 | 17,607 | 21,407 | |||
Commercial Real Estate | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 930 | 2,542 | 1,661 | |||
Commercial Real Estate | Covered Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 11,704 | 25,499 | 37,385 | |||
Commercial Real Estate | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 11,704 | 25,499 | 37,385 | ||||
Commercial Real Estate | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 5,968 | 18,008 | 21,957 | ||||
Financing Receivable, Recorded Investment, Past Due | 11,704 | 21,328 | 34,005 | ||||
Financing Receivable, Modifications, Recorded Investment | 17,672 | 39,336 | 55,962 | ||||
Commercial Real Estate | Accruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 5,968 | 12,885 | 15,387 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 952 | 1,529 | ||||
Financing Receivable, Modifications, Recorded Investment | 5,968 | 13,837 | 16,916 | ||||
Commercial Real Estate | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 1,661 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 1,661 | ||||
Commercial Real Estate | Accruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 5,123 | 4,909 | ||||
Financing Receivable, Recorded Investment, Past Due | 11,704 | 20,376 | 32,476 | ||||
Financing Receivable, Modifications, Recorded Investment | 11,704 | 25,499 | 37,385 | ||||
Commercial Real Estate | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 2,528 | 1,372 | 1,419 | ||||
Financing Receivable, Recorded Investment, Past Due | 2,796 | 4,940 | 3,072 | ||||
Financing Receivable, Modifications, Recorded Investment | 5,324 | 6,312 | 4,491 | ||||
Commercial Real Estate | Nonaccruing TDRs | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 1,598 | 394 | 1,419 | ||||
Financing Receivable, Recorded Investment, Past Due | 2,796 | 3,376 | 3,072 | ||||
Financing Receivable, Modifications, Recorded Investment | 4,394 | 3,770 | 4,491 | ||||
Commercial Real Estate | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 930 | 978 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 1,564 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 930 | 2,542 | 0 | ||||
Commercial Real Estate | Nonaccruing TDRs | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | ||||
Commercial Real Estate | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,554 | 3,172 | 1,404 | ||||
Commercial Real Estate | Total Tdr Allowance | Originated Loans Commercial | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 63 | 159 | 93 | ||||
Commercial Real Estate | Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 98 | 134 | 182 | ||||
Commercial Real Estate | Total Tdr Allowance | Covered Commercial TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,393 | 2,879 | 1,129 | ||||
Consumer Installment | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 33,071 | 25,880 | 25,373 | ||||
Consumer Installment | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 31,927 | 24,905 | 24,394 | ||||
Consumer Installment | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 1,144 | 975 | 979 | ||||
Consumer Installment | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 30,797 | 23,095 | 22,106 | ||||
Financing Receivable, Recorded Investment, Past Due | 650 | 813 | 944 | ||||
Financing Receivable, Modifications, Recorded Investment | 31,447 | 23,908 | 23,050 | ||||
Consumer Installment | Accruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 29,715 | 22,254 | 21,404 | ||||
Financing Receivable, Recorded Investment, Past Due | 603 | 726 | 694 | ||||
Financing Receivable, Modifications, Recorded Investment | 30,318 | 22,980 | 22,098 | ||||
Consumer Installment | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 1,082 | 841 | 702 | ||||
Financing Receivable, Recorded Investment, Past Due | 47 | 87 | 250 | ||||
Financing Receivable, Modifications, Recorded Investment | 1,129 | 928 | 952 | ||||
Consumer Installment | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 1,405 | 1,687 | 2,101 | ||||
Financing Receivable, Recorded Investment, Past Due | 219 | 285 | 222 | ||||
Financing Receivable, Modifications, Recorded Investment | 1,624 | 1,972 | 2,323 | ||||
Consumer Installment | Nonaccruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 1,390 | 1,663 | 2,074 | ||||
Financing Receivable, Recorded Investment, Past Due | 219 | 262 | 222 | ||||
Financing Receivable, Modifications, Recorded Investment | 1,609 | 1,925 | 2,296 | ||||
Consumer Installment | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 15 | 24 | 27 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 23 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 15 | 47 | 27 | ||||
Consumer Installment | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 1,045 | 1,243 | 1,022 | ||||
Consumer Installment | Total Tdr Allowance | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 1,001 | 1,178 | 1,008 | ||||
Consumer Installment | Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 44 | 65 | 14 | ||||
Residential Mortgages | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 27,031 | 27,218 | 28,095 | |||
Residential Mortgages | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 24,697 | 25,251 | |||||
Residential Mortgages | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 633,821 | 602,440 | 557,732 | ||||
Financing Receivable, Recorded Investment, Past Due | 19,322 | 22,843 | 22,434 | ||||
Financing Receivable, Modifications, Recorded Investment | [1] | 24,697 | 25,251 | 26,297 | |||
Residential Mortgages | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 352,298 | 372,685 | 416,756 | ||||
Financing Receivable, Recorded Investment, Past Due | 6,261 | 21,799 | 8,828 | ||||
Financing Receivable, Modifications, Recorded Investment | 2,150 | 1,633 | [1] | 1,461 | [1] | ||
Residential Mortgages | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 184 | [1] | 334 | [1] | 337 | ||
Residential Mortgages | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 93,245 | 14,642 | |||||
Financing Receivable, Recorded Investment, Past Due | 15,373 | 3,538 | |||||
Financing Receivable, Modifications, Recorded Investment | 108,618 | 18,180 | |||||
Residential Mortgages | Accruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 13,925 | 13,440 | |||||
Financing Receivable, Recorded Investment, Past Due | 2,105 | 3,538 | |||||
Financing Receivable, Modifications, Recorded Investment | 16,030 | 16,978 | |||||
Residential Mortgages | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 1,313 | 868 | |||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |||||
Financing Receivable, Modifications, Recorded Investment | 1,313 | 868 | |||||
Residential Mortgages | Accruing TDRs | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 184 | 334 | 337 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 184 | 334 | 337 | ||||
Residential Mortgages | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 19,598 | 5,476 | |||||
Financing Receivable, Recorded Investment, Past Due | 10,770 | 3,562 | |||||
Financing Receivable, Modifications, Recorded Investment | 30,368 | 9,038 | |||||
Residential Mortgages | Nonaccruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 4,957 | 5,006 | |||||
Financing Receivable, Recorded Investment, Past Due | 3,710 | 3,267 | |||||
Financing Receivable, Modifications, Recorded Investment | 8,667 | 8,273 | |||||
Residential Mortgages | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 615 | 470 | |||||
Financing Receivable, Recorded Investment, Past Due | 222 | 295 | |||||
Financing Receivable, Modifications, Recorded Investment | 837 | 765 | |||||
Residential Mortgages | Nonaccruing TDRs | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | ||||
Residential Mortgages | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 1,306 | ||||||
Residential Mortgages | Total Tdr Allowance | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 1,283 | ||||||
Residential Mortgages | Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 0 | 2 | |||||
Residential Mortgages | Total Tdr Allowance | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 0 | 21 | 0 | ||||
Residential Portfolio Segment | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | [2] | 890 | |||||
Credit Card Receivable | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 787 | [1] | 854 | [1] | 979 | ||
Credit Card Receivable | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 787 | 854 | 979 | ||||
Credit Card Receivable | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 167,001 | 162,434 | 150,395 | ||||
Financing Receivable, Recorded Investment, Past Due | 1,575 | 2,044 | 1,572 | ||||
Financing Receivable, Modifications, Recorded Investment | [1] | 787 | 854 | 979 | |||
Credit Card Receivable | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 684 | 775 | 857 | ||||
Financing Receivable, Recorded Investment, Past Due | 100 | 60 | 86 | ||||
Financing Receivable, Modifications, Recorded Investment | 784 | 835 | 943 | ||||
Credit Card Receivable | Accruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 684 | 775 | 857 | ||||
Financing Receivable, Recorded Investment, Past Due | 100 | 60 | 86 | ||||
Financing Receivable, Modifications, Recorded Investment | 784 | 835 | 943 | ||||
Credit Card Receivable | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 15 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 3 | 4 | 36 | ||||
Financing Receivable, Modifications, Recorded Investment | 3 | 19 | 36 | ||||
Credit Card Receivable | Nonaccruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 0 | 15 | 0 | ||||
Financing Receivable, Recorded Investment, Past Due | 3 | 4 | 36 | ||||
Financing Receivable, Modifications, Recorded Investment | 3 | 19 | 36 | ||||
Credit Card Receivable | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 250 | 296 | 361 | ||||
Credit Card Receivable | Total Tdr Allowance | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 250 | 296 | 361 | ||||
Total consumer | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 86,011 | 77,153 | 74,602 | |||
Total consumer | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 64,832 | 58,389 | 58,626 | ||||
Total consumer | Originated Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 64,832 | 58,389 | 58,626 | |||
Total consumer | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 10,432 | [1] | 9,540 | 7,150 | |||
Total consumer | Covered Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | 9,224 | [1] | 8,826 | ||||
Total consumer | Covered TDR Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment | [1] | 10,747 | |||||
Total consumer | Accruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 69,406 | 59,498 | 57,057 | ||||
Financing Receivable, Recorded Investment, Past Due | 3,669 | 5,287 | 4,258 | ||||
Financing Receivable, Modifications, Recorded Investment | 73,075 | 64,785 | 61,315 | ||||
Total consumer | Accruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 50,935 | 42,708 | 43,284 | ||||
Financing Receivable, Recorded Investment, Past Due | 2,915 | 4,593 | 3,317 | ||||
Financing Receivable, Modifications, Recorded Investment | 53,850 | 47,301 | 46,601 | ||||
Total consumer | Accruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 8,782 | 7,895 | 5,398 | ||||
Financing Receivable, Recorded Investment, Past Due | 665 | 694 | 826 | ||||
Financing Receivable, Modifications, Recorded Investment | 9,447 | 8,589 | 6,224 | ||||
Total consumer | Nonaccruing TDRs | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 7,810 | 8,517 | 9,645 | ||||
Financing Receivable, Recorded Investment, Past Due | 5,126 | 3,851 | 3,642 | ||||
Financing Receivable, Modifications, Recorded Investment | 12,936 | 12,368 | 13,287 | ||||
Total consumer | Nonaccruing TDRs | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 6,904 | 7,555 | 8,410 | ||||
Financing Receivable, Recorded Investment, Past Due | 4,078 | 3,533 | 3,615 | ||||
Financing Receivable, Modifications, Recorded Investment | 10,982 | 11,088 | 12,025 | ||||
Total consumer | Nonaccruing TDRs | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Financing Receivable, Recorded Investment, Current | 763 | 633 | 899 | ||||
Financing Receivable, Recorded Investment, Past Due | 222 | 318 | 27 | ||||
Financing Receivable, Modifications, Recorded Investment | 985 | 951 | 926 | ||||
Total consumer | Total Tdr Allowance | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,425 | 3,088 | 2,603 | ||||
Total consumer | Total Tdr Allowance | Originated Consumer Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 2,358 | 2,964 | 2,589 | ||||
Total consumer | Total Tdr Allowance | Acquired Loans | |||||||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | $ 44 | $ 76 | $ 14 | ||||
[1] | Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent 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 represent partial charge offs. |
Allowance for Loan Losses Sch56
Allowance for Loan Losses Schedule of Defaulted Troubled Debt Restructuring (Details) $ in Thousands | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2014USD ($) |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 4 | 11 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 408 | $ 666 | |
Credit Card Receivable | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 7 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 1 | $ 31 | |
Credit Card Receivable | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 7 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 1 | $ 31 | |
Commercial and Industrial | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 170 | |
Commercial and Industrial | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 170 | |
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 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Commercial and Industrial | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Commercial Real Estate | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 363 | |
Commercial Real Estate | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 363 | |
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 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Commercial Real Estate | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Construction Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Construction Loans | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Construction Loans | Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Construction Loans | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Commercial Loan | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 2 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 533 | |
Commercial Loan | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 2 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 533 | |
Commercial Loan | Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Commercial Loan | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Consumer Installment | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 2 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 39 | $ 3 | |
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 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 6 | $ 3 | |
Consumer Installment | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 33 | $ 0 | |
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 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
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 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Home Equity Line of Credit | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Residential Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 368 | $ 99 | |
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 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 368 | $ 99 | |
Residential Mortgages | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Total consumer | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 4 | 9 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 408 | $ 133 | |
Total consumer | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 3 | 9 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 375 | $ 133 | |
Total consumer | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | 1 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 33 | $ 0 |
Allowance for Loan Losses Detai
Allowance for Loan Losses Details Textual (Details) - Financing Receivable by Loan Portfolio Status [Domain] - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Allowance For Loan And Lease Losses [Line Items] | |||||
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 1,600,000 | $ 3,800,000 | |||
Loan Commitments | 6,144,177,000 | $ 5,666,483,000 | 6,144,177,000 | $ 5,666,483,000 | $ 6,136,313,000 |
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, with No Related Allowance, Interest Income, Cash Basis Method | 118,000 | 20,000 | 236,000 | 123,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 900,000 | 500,000 | 1,800,000 | 1,300,000 | |
Total impaired loans with no related allowance | |||||
Allowance For Loan And Lease Losses [Line Items] | |||||
Loan Commitments | $ 3,700,000 | $ 1,600,000 | $ 3,700,000 | $ 1,600,000 | $ 200,000 |
Goodwill and Other Intangible58
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets-Accumulated Amortization of Intangible Assets Schedule (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 96,561 | $ 96,561 | $ 102,151 |
Finite-Lived Intangible Assets, Accumulated Amortization | (30,737) | (25,541) | (25,265) |
Finite-Lived Intangible Assets, Net | 65,824 | 71,020 | 76,886 |
Core Deposits | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 82,323 | 82,323 | 87,533 |
Finite-Lived Intangible Assets, Accumulated Amortization | (24,150) | (19,996) | (20,637) |
Finite-Lived Intangible Assets, Net | 58,173 | 62,327 | 66,896 |
Lease Agreements | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 238 | 238 | 618 |
Finite-Lived Intangible Assets, Accumulated Amortization | (194) | (176) | (538) |
Finite-Lived Intangible Assets, Net | 44 | 62 | 80 |
Customer Relationships | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 14,000 | 14,000 | 14,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | (6,393) | (5,369) | (4,090) |
Finite-Lived Intangible Assets, Net | $ 7,607 | $ 8,631 | $ 9,910 |
Goodwill and Other Intangible59
Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 741,740 | $ 741,740 | $ 741,740 | $ 741,740 | $ 741,740 |
Amortization of Intangible Assets | 2,598 | $ 2,933 | 5,196 | $ 5,869 | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 5,200 | 5,200 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 9,200 | 9,200 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 8,200 | 8,200 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 7,300 | 7,300 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 6,500 | $ 6,500 | |||
Core Deposits | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||
Citizens Republic Bancorp | Core Deposits | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||||
Citizens Republic Bancorp | Customer Relationships | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Asset, Useful Life | 12 years |
Shareholders' Equity (Reconcili
Shareholders' Equity (Reconciliation of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Schedule of Earnings Per Share, Basic and Diluted [Line Items] | ||||
Net income | $ 56,584 | $ 59,519 | $ 113,723 | $ 112,974 |
Preferred Stock Dividends, Income Statement Impact | 1,469 | 1,469 | 2,938 | 2,938 |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | 467 | 489 | 937 | 926 |
Net income attributable to common shareholders | $ 54,648 | $ 57,561 | $ 109,848 | $ 109,110 |
Weighted average number of common shares outstanding - basic | 165,736 | 165,335 | 165,574 | 165,198 |
Earnings Per Share, Basic | $ 0.33 | $ 0.35 | $ 0.66 | $ 0.66 |
Net Income (Loss) Available to Common Stockholders, Diluted | $ 54,648 | $ 57,561 | $ 109,848 | $ 109,110 |
Weighted average number of common shares outstanding - diluted | 166,277 | 166,147 | 166,089 | 166,052 |
Earnings Per Share, Diluted | $ 0.33 | $ 0.35 | $ 0.66 | $ 0.66 |
Employee Stock Option | ||||
Schedule of Earnings Per Share, Basic and Diluted [Line Items] | ||||
Weighted average number of common shares outstanding - diluted | 541 | 812 | 515 | 854 |
Shareholders' Equity (Narrative
Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | May. 13, 2015 | Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 |
Shareholders Equity Narrative [Line Items] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 800,000 | 1,000,000 | |||
Payments for Repurchase of Warrants | $ 12,200 | $ 12,150 | $ 0 | ||
Adjustments to Additional Paid in Capital, Other | $ (9,200) | ||||
5.875% Non-Cumulative Perpetual Preferred stock, Series A, authorized 115,000 shares | 7,000,000 | 7,000,000 | |||
Non-cumulative Perpetual Preferred Stock, Series A, Shares Authorized | 115,000 | 115,000 | 115,000 | 115,000 | |
5.875% Non-Cumulative Perpetual Preferred stock, Series A, 100,000 outstanding | 100,000 | 100,000 | 100,000 | 100,000 | |
Citizens Republic Bancorp | |||||
Shareholders Equity Narrative [Line Items] | |||||
Interest rate of Non-Cumulative Perpetual Preferred Stock, Series A | 5.875% | 5.875% | |||
Citizens Republic Bancorp | Citizens Republic Bancorp | |||||
Shareholders Equity Narrative [Line Items] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 17.50 | $ 17.50 | |||
FirstMerit | Citizens Republic Bancorp | |||||
Shareholders Equity Narrative [Line Items] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,571,998.380 | 2,571,998.380 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
OPERATIONS: | ||||
Net interest income | $ 185,118 | $ 195,577 | $ 370,741 | $ 389,479 |
Provision for Loan, Lease, and Other Losses | 8,966 | 15,253 | 17,214 | 29,790 |
Noninterest Income | 66,582 | 72,560 | 132,429 | 139,831 |
Other expenses | 161,674 | 167,400 | 322,326 | 336,733 |
Net income | 56,584 | 59,519 | 113,723 | 112,974 |
AVERAGES : | ||||
Assets | 25,129,859 | 24,291,276 | 25,015,734 | 24,216,459 |
Segment Reporting Information Average Loans | 15,577,361 | 14,702,319 | 15,502,686 | 14,558,200 |
Segment Reporting Information Average Earnings Assets | 22,352,721 | 21,367,496 | 22,227,267 | 21,136,960 |
Segment Reporting Information Average Deposits | 19,682,662 | 19,496,795 | 19,735,499 | 19,566,264 |
Segment Reporting Information Average Economic Capital | 2,892,432 | 2,768,352 | 2,879,469 | 2,750,886 |
Commercial Loan | ||||
OPERATIONS: | ||||
Net interest income | 101,342 | 106,217 | 202,830 | 210,422 |
Provision for Loan, Lease, and Other Losses | 2,285 | (1,346) | 1,759 | 4,360 |
Noninterest Income | 21,918 | 26,681 | 44,408 | 47,987 |
Other expenses | 61,032 | 63,441 | 122,685 | 127,407 |
Net income | 38,963 | 46,875 | 79,816 | 83,885 |
AVERAGES : | ||||
Assets | 9,437,824 | 9,192,463 | 9,445,975 | 9,132,758 |
Segment Reporting Information Average Loans | 9,533,843 | 9,176,853 | 9,520,262 | 9,119,431 |
Segment Reporting Information Average Earnings Assets | 9,828,867 | 9,465,291 | 9,811,770 | 9,387,095 |
Segment Reporting Information Average Deposits | 6,777,434 | 6,545,608 | 6,831,887 | 6,595,348 |
Segment Reporting Information Average Economic Capital | 1,355,049 | 1,301,532 | 1,349,289 | 1,300,177 |
Retail | ||||
OPERATIONS: | ||||
Net interest income | 92,501 | 96,108 | 184,527 | 190,454 |
Provision for Loan, Lease, and Other Losses | 8,447 | 12,443 | 15,981 | 20,782 |
Noninterest Income | 23,964 | 25,345 | 45,701 | 52,380 |
Other expenses | 87,799 | 89,383 | 176,070 | 186,091 |
Net income | 13,142 | 12,758 | 24,815 | 23,375 |
AVERAGES : | ||||
Assets | 5,951,665 | 5,546,492 | 5,898,835 | 5,504,382 |
Segment Reporting Information Average Loans | 5,702,015 | 5,198,481 | 5,636,666 | 5,142,098 |
Segment Reporting Information Average Earnings Assets | 5,707,400 | 5,218,868 | 5,645,469 | 5,160,893 |
Segment Reporting Information Average Deposits | 11,105,954 | 11,720,730 | 11,115,005 | 11,736,766 |
Segment Reporting Information Average Economic Capital | 767,803 | 744,110 | 763,446 | 724,203 |
Wealth | ||||
OPERATIONS: | ||||
Net interest income | 5,452 | 4,927 | 10,932 | 9,717 |
Provision for Loan, Lease, and Other Losses | (1) | 396 | (171) | 351 |
Noninterest Income | 14,816 | 14,052 | 28,792 | 27,516 |
Other expenses | 13,461 | 13,177 | 27,181 | 26,695 |
Net income | 4,425 | 3,515 | 8,264 | 6,622 |
AVERAGES : | ||||
Assets | 290,798 | 258,845 | 296,461 | 250,279 |
Segment Reporting Information Average Loans | 281,013 | 248,188 | 286,484 | 239,358 |
Segment Reporting Information Average Earnings Assets | 281,013 | 248,188 | 286,484 | 239,358 |
Segment Reporting Information Average Deposits | 1,188,563 | 1,050,002 | 1,214,617 | 1,030,018 |
Segment Reporting Information Average Economic Capital | 111,770 | 100,361 | 109,969 | 98,684 |
Nonreportable segments and reconciling items | ||||
OPERATIONS: | ||||
Net interest income | (14,177) | (11,675) | (27,548) | (21,114) |
Provision for Loan, Lease, and Other Losses | (1,765) | 3,760 | (355) | 4,297 |
Noninterest Income | 5,884 | 6,482 | 13,528 | 11,948 |
Other expenses | (618) | 1,399 | (3,610) | (3,460) |
Net income | 54 | (3,629) | 828 | (907) |
AVERAGES : | ||||
Assets | 9,449,572 | 9,293,476 | 9,374,463 | 9,329,040 |
Segment Reporting Information Average Loans | 60,490 | 78,797 | 59,274 | 57,313 |
Segment Reporting Information Average Earnings Assets | 6,535,441 | 6,435,149 | 6,483,544 | 6,349,614 |
Segment Reporting Information Average Deposits | 610,711 | 180,455 | 573,990 | 204,132 |
Segment Reporting Information Average Economic Capital | $ 657,810 | $ 622,349 | $ 656,765 | $ 627,822 |
Derivatives and Hedging Activ63
Derivatives and Hedging Activities (Designated as Hedging Instruments, Notional Values, Contractual Amounts and Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | ||
Derivatives designated in hedge relationships | |||||
Derivative Asset, Fair Value | $ 48,073 | $ 55,197 | $ 50,550 | ||
Derivative Liability, Fair Value | 51,497 | 55,439 | 57,544 | ||
Commercial Loan Swaps (FRAPS) | Designated as Hedging Instrument | |||||
Derivatives designated in hedge relationships | |||||
Derivative Asset, Notional/Contract Amount | 0 | 0 | 0 | ||
Derivative Asset, Fair Value | 0 | 0 | [1] | 0 | [1] |
Derivative Liability, Notional/Contract Amount | 75,794 | 93,313 | 102,828 | ||
Derivative Liability, Fair Value | 5,104 | 6,683 | 8,989 | ||
Sub Debt Swap | Designated as Hedging Instrument | |||||
Derivatives designated in hedge relationships | |||||
Derivative Asset, Notional/Contract Amount | 250,000 | 250,000 | 0 | ||
Derivative Asset, Fair Value | 1,153 | 5,256 | [1] | 0 | [1] |
Derivative Liability, Notional/Contract Amount | 0 | 0 | 0 | ||
Derivative Liability, Fair Value | 0 | 0 | 0 | ||
Interest rate swaps | Designated as Hedging Instrument | |||||
Derivatives designated in hedge relationships | |||||
Derivative Asset, Notional/Contract Amount | 250,000 | 250,000 | 0 | ||
Derivative Asset, Fair Value | 1,153 | 5,256 | [1] | 0 | [1] |
Derivative Liability, Notional/Contract Amount | 75,794 | 93,313 | 102,828 | ||
Derivative Liability, Fair Value | 5,104 | 6,683 | 8,989 | ||
Level 2 | |||||
Derivatives designated in hedge relationships | |||||
Derivative Asset, Fair Value | 48,073 | 55,197 | 50,550 | ||
Derivative Liability, Fair Value | 51,497 | 55,439 | 57,544 | ||
Level 2 | Interest rate swaps | Designated as Hedging Instrument | |||||
Derivatives designated in hedge relationships | |||||
Derivative Asset, Fair Value | 1,153 | 5,256 | 0 | ||
Derivative Liability, Fair Value | $ 5,104 | $ 6,683 | $ 8,989 | ||
[1] | (1) Included in "Other assets" on the Consolidated Balance Sheets(2) Included in "Other liabilities" on the Consolidated Balance Sheets |
Derivatives and Hedging Activ64
Derivatives and Hedging Activities (Not Designated as Hedging Instruments, Notional Values, Contractual Amounts and Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | $ 48,073 | $ 55,197 | $ 50,550 | |||
Derivative Liability, Fair Value | 51,497 | 55,439 | 57,544 | |||
Not Designated as Hedging Instrument | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Notional/Contract Amount | 1,823,511 | 1,807,942 | 1,828,587 | |||
Derivative Asset, Fair Value | [1] | 46,920 | 49,941 | 50,550 | ||
Derivative Liability, Notional/Contract Amount | 1,847,653 | 1,821,674 | 1,783,908 | |||
Derivative Liability, Fair Value | 46,393 | 48,756 | 48,555 | |||
Not Designated as Hedging Instrument | Interest rate swaps | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Notional/Contract Amount | 1,726,600 | 1,673,012 | 1,618,463 | |||
Derivative Asset, Fair Value | 46,216 | 48,366 | [1] | 47,952 | [1] | |
Derivative Liability, Notional/Contract Amount | 1,726,600 | 1,673,012 | 1,618,463 | |||
Derivative Liability, Fair Value | 46,216 | 48,366 | 47,952 | |||
Not Designated as Hedging Instrument | Mortgage loan commitments | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Notional/Contract Amount | 52,024 | 102,523 | 169,232 | |||
Derivative Asset, Fair Value | 342 | 1,408 | [1] | 2,491 | [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 | 15,200 | 0 | 0 | |||
Derivative Asset, Fair Value | 106 | 0 | [1] | 0 | [1] | |
Derivative Liability, Notional/Contract Amount | 0 | 47,657 | 80,161 | |||
Derivative Liability, Fair Value | 0 | 272 | 545 | |||
Not Designated as Hedging Instrument | Credit Risk Contract | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Notional/Contract Amount | 0 | 10,001 | 15,269 | |||
Derivative Asset, Fair Value | [1] | 0 | 0 | 0 | ||
Derivative Liability, Notional/Contract Amount | 73,512 | 69,227 | 52,319 | |||
Derivative Liability, Fair Value | 0 | 10 | ||||
Not Designated as Hedging Instrument | Equity Swap | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Liability, Fair Value | 0 | |||||
Not Designated as Hedging Instrument | Foreign Exchange | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Notional/Contract Amount | 29,687 | 22,406 | 25,623 | |||
Derivative Asset, Fair Value | 256 | 167 | [1] | 107 | [1] | |
Derivative Liability, Notional/Contract Amount | 15,823 | 6,580 | 7,568 | |||
Derivative Liability, Fair Value | 177 | 118 | 48 | |||
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 | 0 | [1] | 0 | [1] | |
Derivative Liability, Notional/Contract Amount | 31,718 | 25,198 | 25,397 | |||
Derivative Liability, Fair Value | 0 | 0 | ||||
Level 2 | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 48,073 | 55,197 | 50,550 | |||
Derivative Liability, Fair Value | 51,497 | 55,439 | 57,544 | |||
Level 2 | Not Designated as Hedging Instrument | Interest rate swaps | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 46,216 | 48,366 | 47,952 | |||
Derivative Liability, Fair Value | 46,216 | 48,366 | 47,952 | |||
Level 2 | Not Designated as Hedging Instrument | Mortgage loan commitments | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 342 | 1,408 | 2,491 | |||
Level 2 | Not Designated as Hedging Instrument | Forward sales contracts | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 106 | 0 | 0 | |||
Derivative Liability, Fair Value | 0 | 272 | 545 | |||
Level 2 | Not Designated as Hedging Instrument | Credit Risk Contract | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Liability, Fair Value | 10 | |||||
Level 2 | Not Designated as Hedging Instrument | Foreign Exchange | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 256 | 167 | 107 | |||
Derivative Liability, Fair Value | 177 | 118 | 48 | |||
Level 3 | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 0 | 0 | 0 | |||
Derivative Liability, Fair Value | 0 | 0 | 0 | |||
Level 3 | Not Designated as Hedging Instrument | Interest rate swaps | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 0 | 0 | 0 | |||
Derivative Liability, Fair Value | 0 | 0 | 0 | |||
Level 3 | Not Designated as Hedging Instrument | Mortgage loan commitments | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 0 | 0 | 0 | |||
Level 3 | Not Designated as Hedging Instrument | Forward sales contracts | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 0 | 0 | 0 | |||
Derivative Liability, Fair Value | 0 | 0 | 0 | |||
Level 3 | Not Designated as Hedging Instrument | Credit Risk Contract | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Liability, Fair Value | 0 | |||||
Level 3 | Not Designated as Hedging Instrument | Equity Swap | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Liability, Fair Value | 0 | |||||
Level 3 | Not Designated as Hedging Instrument | Foreign Exchange | ||||||
Derivatives not designated in hedge relationships | ||||||
Derivative Asset, Fair Value | 0 | 0 | 0 | |||
Derivative Liability, Fair Value | $ 0 | $ 0 | $ 0 | |||
[1] | (1) Included in "Other assets" on the Consolidated Balance Sheets(2) Included in "Other liabilities" on the Consolidated Balance Sheets |
Derivatives and Hedging Activ65
Derivatives and Hedging Activities (Gains and Losses Recognized) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | $ 294 | $ 531 | $ (1,400) | $ 778 |
Mortgage loan commitments | Other income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | (46) | 916 | (1,066) | 1,600 |
Forward sales contracts | Other income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | 175 | (713) | 378 | (929) |
Credit Risk Contract | Other income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | 165 | 328 | (712) | 107 |
Other Credit Derivatives | Other Expenses [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | $ 0 | $ 0 | $ 0 | $ 0 |
Derivatives and Hedging Activ66
Derivatives and Hedging Activities (Offsetting Disclosure for Derivative Contracts) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Offsetting Disclosure for Derivative Contracts [Line Items] | |||
offsetting disclosure, derivative asset, fair value, gross | $ 1,731 | $ 5,742 | $ 858 |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative asset, falir value | 1,731 | 5,742 | 858 |
offseting disclosure, netting adjustment, derivative asset, fair value | (463) | (380) | (858) |
offsetting disclosure, collateral value, derivative asset | (115) | (106) | 0 |
offsetting disclosure, net amount total, derivative asset, fair value | 1,153 | 5,256 | 0 |
offsetting disclosure, derivative liability, fair value, gross | 50,955 | 54,725 | 56,138 |
offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 50,955 | 54,725 | 56,138 |
offseting disclosure, netting adjustment, derivative liability, fair value | (463) | (380) | (858) |
offsetting disclosure, collateral value, derivative liability | (50,492) | (54,345) | (55,280) |
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 asset, fair value, gross | 1,153 | 5,256 | |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | |
offsetting disclosure, net amount, derivative asset, falir value | 1,153 | 5,256 | |
offseting disclosure, netting adjustment, derivative asset, fair value | 0 | 0 | |
offsetting disclosure, collateral value, derivative asset | 0 | 0 | |
offsetting disclosure, net amount total, derivative asset, fair value | 1,153 | 5,256 | |
offsetting disclosure, derivative liability, fair value, gross | 5,104 | 6,683 | 8,989 |
offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 5,104 | 6,683 | 8,989 |
offseting disclosure, netting adjustment, derivative liability, fair value | 0 | 0 | 0 |
offsetting disclosure, collateral value, derivative liability | (5,104) | (6,683) | (8,989) |
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 | 414 | 352 | 839 |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative asset, falir value | 414 | 352 | 839 |
offseting disclosure, netting adjustment, derivative asset, fair value | (414) | (352) | (839) |
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 | 45,802 | 48,014 | 47,114 |
offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 45,802 | 48,014 | 47,114 |
offseting disclosure, netting adjustment, derivative liability, fair value | (414) | (352) | (839) |
offsetting disclosure, collateral value, derivative liability | (45,388) | (47,662) | (46,275) |
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 | 164 | 134 | 19 |
offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative asset, falir value | 164 | 134 | 19 |
offseting disclosure, netting adjustment, derivative asset, fair value | (49) | (28) | (19) |
offsetting disclosure, collateral value, derivative asset | (115) | (106) | 0 |
offsetting disclosure, net amount total, derivative asset, fair value | 0 | 0 | 0 |
offsetting disclosure, derivative liability, fair value, gross | 49 | 28 | 35 |
offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
offsetting disclosure, net amount, derivative liability, falir value | 49 | 28 | 35 |
offseting disclosure, netting adjustment, derivative liability, fair value | (49) | (28) | (19) |
offsetting disclosure, collateral value, derivative liability | 0 | 0 | (16) |
offsetting disclosure, net amount total, derivative liability, fair value | $ 0 | $ 0 | $ 0 |
Derivatives and Hedging Activ67
Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Derivative [Line Items] | ||||
Term of written loan commitments, days | ||||
Default Assumptions Percentage | 100.00% | 100.00% | ||
Government Agency Issued Bonds or MBS | ||||
Derivative [Line Items] | ||||
Collateral posted against derivative liabilities | $ 45,600 | $ 45,600 | $ 53,500 | $ 64,000 |
Designated as Hedging Instrument | Interest Rate Swap | ||||
Derivative [Line Items] | ||||
Derivative Asset, Notional Amount | $ 250,000 | $ 250,000 | $ 250,000 | $ 0 |
Minimum [Member] | Equity Swap | ||||
Derivative [Line Items] | ||||
Maturity of Credit Risk Derivatives | 3 years | |||
Minimum [Member] | Credit Risk Contract | ||||
Derivative [Line Items] | ||||
Maturity of Credit Risk Derivatives | 1 year | |||
Maximum [Member] | Equity Swap | ||||
Derivative [Line Items] | ||||
Maturity of Credit Risk Derivatives | 8 years | |||
Maximum [Member] | Credit Risk Contract | ||||
Derivative [Line Items] | ||||
Maturity of Credit Risk Derivatives | 9 years |
Benefit Plans (Schedule of Net
Benefit Plans (Schedule of Net Benefit Costs Details) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Pension Plan, Defined Benefit | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Service Cost | $ 207 | $ 182 | $ 415 | $ 364 |
Defined Benefit Plan, Interest Cost | 3,517 | 3,584 | 7,035 | 7,168 |
Defined Benefit Plan, Expected Return on Plan Assets | (3,902) | (4,009) | (7,804) | (8,017) |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 570 | 698 | 1,140 | 1,331 |
Defined Benefit Plan, Amortization of Gains (Losses) | 1,057 | 804 | 2,113 | 1,513 |
Defined Benefit Plan, Net Periodic Benefit Cost | 1,449 | 1,259 | 2,899 | 2,359 |
Other Postretirement Benefit Plans, Defined Benefit | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Service Cost | 41 | 16 | 83 | 33 |
Defined Benefit Plan, Interest Cost | 144 | 164 | 288 | 327 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | (160) | (117) | (319) | (234) |
Defined Benefit Plan, Amortization of Gains (Losses) | 81 | 59 | 163 | 118 |
Defined Benefit Plan, Net Periodic Benefit Cost | $ 106 | $ 122 | $ 215 | $ 244 |
Fair Value Measurement (Recurri
Fair Value Measurement (Recurring and Nonrecurring Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
True-up Liabitlity Discount Rate | 3.58% | 3.12% | |||||
True-up Liability Effect of Change in Discount Rate By One Percent | $ 600 | $ (700) | |||||
Collateral Dependant Impaired and Non Accrual Loans Carrying Amount | 72,600 | 56,000 | $ 56,000 | ||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 3,838,509 | 3,478,420 | 3,545,288 | ||||
Residential loans held for sale | 8,302 | 21,632 | 14,389 | ||||
Derivative Asset, Fair Value, Gross Asset | 48,073 | 50,550 | 55,197 | ||||
Total Assets, Fair Value Disclosure, Recurring | 3,894,884 | 3,550,602 | 3,614,874 | ||||
Derivative Liability, Fair Value, Gross Liability | 51,497 | 57,544 | 55,439 | ||||
True Up Liability | 13,408 | 12,581 | 13,294 | ||||
Total liabilities at fair value on a recurring basis | 64,905 | [1] | 70,125 | 68,733 | [1] | ||
Nonrecurring Fair Value Measurements [Abstract] | |||||||
Fair Value of Mortgage Servicing Rights | 20,809 | [2] | 21,987 | 21,228 | [2] | ||
Impaired and Non Accrual Loans Fair Value Disclosure | 72,580 | [3] | 56,006 | 56,041 | [3] | ||
Other Real Estate, Non Covered | 33,078 | [4] | 17,052 | 12,510 | [4] | ||
Other Real Estate Covered by Loss Share | 4 | [5] | 22,782 | 3,614 | [5] | ||
Nonrecurring Fair Value | 126,471 | 117,827 | 93,393 | ||||
Impairment of Noncovered Other Real Estate Owned | 700 | 2,600 | |||||
Impairment of Covered Other Real Esate Owned | 700 | 1,200 | |||||
Foreclosed Real Estate Expense | 2,100 | ||||||
Level 1 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 2,824 | 2,935 | 2,974 | ||||
Residential loans held for sale | 0 | 0 | 0 | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | ||||
Total Assets, Fair Value Disclosure, Recurring | 2,824 | 2,935 | 2,974 | ||||
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 | 0 | [1] | ||
Nonrecurring Fair Value Measurements [Abstract] | |||||||
Fair Value of Mortgage Servicing Rights | 0 | [2] | 0 | 0 | [2] | ||
Impaired and Non Accrual Loans Fair Value Disclosure | 0 | [3] | 0 | 0 | [3] | ||
Other Real Estate, Non Covered | 0 | [4] | 0 | 0 | [4] | ||
Other Real Estate Covered by Loss Share | 0 | [5] | 0 | 0 | [5] | ||
Nonrecurring Fair Value | 0 | 0 | 0 | ||||
Level 2 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 3,524,149 | 3,124,752 | 3,203,127 | ||||
Residential loans held for sale | 8,302 | 21,632 | 14,389 | ||||
Derivative Asset, Fair Value, Gross Asset | 48,073 | 50,550 | 55,197 | ||||
Total Assets, Fair Value Disclosure, Recurring | 3,580,524 | 3,196,934 | 3,272,713 | ||||
Derivative Liability, Fair Value, Gross Liability | 51,497 | 57,544 | 55,439 | ||||
True Up Liability | 0 | 0 | 0 | ||||
Total liabilities at fair value on a recurring basis | 51,497 | [1] | 57,544 | 55,439 | [1] | ||
Nonrecurring Fair Value Measurements [Abstract] | |||||||
Fair Value of Mortgage Servicing Rights | 0 | [2] | 0 | 0 | [2] | ||
Impaired and Non Accrual Loans Fair Value Disclosure | 0 | [3] | 0 | 0 | [3] | ||
Other Real Estate, Non Covered | 0 | [4] | 0 | 0 | [4] | ||
Other Real Estate Covered by Loss Share | 0 | [5] | 0 | 0 | [5] | ||
Nonrecurring Fair Value | 0 | 0 | 0 | ||||
Level 3 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 311,536 | 350,733 | 339,187 | ||||
Residential loans held for sale | 0 | 0 | 0 | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | ||||
Total Assets, Fair Value Disclosure, Recurring | 311,536 | 350,733 | 339,187 | ||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | ||||
True Up Liability | 13,408 | 12,581 | 13,294 | ||||
Total liabilities at fair value on a recurring basis | 13,408 | [1] | 12,581 | 13,294 | [1] | ||
Nonrecurring Fair Value Measurements [Abstract] | |||||||
Fair Value of Mortgage Servicing Rights | 20,809 | 21,987 | 21,228 | ||||
Impaired and Non Accrual Loans Fair Value Disclosure | 72,580 | 56,006 | 56,041 | ||||
Other Real Estate, Non Covered | 33,078 | 17,052 | 12,510 | [4] | |||
Other Real Estate Covered by Loss Share | 4 | 22,782 | 3,614 | [5] | |||
Nonrecurring Fair Value | 126,471 | 117,827 | 93,393 | ||||
US Treasury Securities | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 5,005 | ||||||
US Treasury Securities | Level 2 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 5,005 | ||||||
Equity Securities | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 2,824 | 2,935 | 2,974 | ||||
Equity Securities | Level 1 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 2,824 | 2,935 | 2,974 | ||||
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 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 3,281 | ||||||
Non-marketable Equity Securities | Level 2 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 10 | ||||||
Non-marketable Equity Securities | Level 3 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 3,271 | ||||||
US Government Agencies Debt Securities | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 2,510 | 2,482 | |||||
US Government Agencies Debt Securities | Level 2 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 2,510 | ||||||
U.S. States and political subdivisions debt securities | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 207,617 | 240,805 | 227,342 | ||||
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 | 207,617 | 240,805 | 227,342 | ||||
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 | 960,852 | 1,018,174 | 970,998 | ||||
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 | 960,852 | 1,018,174 | 970,998 | ||||
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 | 170,338 | 85,698 | 103,403 | ||||
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 | 170,338 | 85,698 | 103,403 | ||||
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 | 1,949,389 | 1,598,031 | 1,676,567 | ||||
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 | 1,949,389 | 1,598,031 | 1,676,567 | ||||
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 | 5 | 8 | 7 | ||||
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 | 0 | 1 | 1 | ||||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | Level 3 | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 5 | 7 | 6 | ||||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 228,438 | 182,033 | 222,334 | ||||
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 | 228,438 | 182,033 | 222,334 | ||||
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 | 53,450 | 53,490 | 51,337 | ||||
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 | 51,337 | |||||
Collateralized Loan Obligations | |||||||
Recurring Fair Value Measurements | |||||||
Available-for-sale | 258,081 | 293,965 | 287,844 | ||||
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 | 287,844 | |||||
Not Designated as Hedging Instrument | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Asset, Fair Value, Gross Asset | [6] | 46,920 | 50,550 | 49,941 | |||
Derivative Liability, Fair Value, Gross Liability | 46,393 | 48,555 | 48,756 | ||||
Interest Rate Swap | Designated as Hedging Instrument | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Asset, Fair Value, Gross Asset | 1,153 | 0 | [6] | 5,256 | [6] | ||
Derivative Liability, Fair Value, Gross Liability | 5,104 | 8,989 | 6,683 | ||||
Interest Rate Swap | 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 | Designated as Hedging Instrument | Level 2 | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Asset, Fair Value, Gross Asset | 1,153 | 0 | 5,256 | ||||
Derivative Liability, Fair Value, Gross Liability | 5,104 | 8,989 | 6,683 | ||||
Interest Rate Swap | 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 | ||||
Interest Rate Swap | Not Designated as Hedging Instrument | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Asset, Fair Value, Gross Asset | 46,216 | 47,952 | [6] | 48,366 | [6] | ||
Derivative Liability, Fair Value, Gross Liability | 46,216 | 47,952 | 48,366 | ||||
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 | 46,216 | 47,952 | 48,366 | ||||
Derivative Liability, Fair Value, Gross Liability | 46,216 | 47,952 | 48,366 | ||||
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 | 342 | 2,491 | [6] | 1,408 | [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 | 342 | 2,491 | 1,408 | ||||
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 | 106 | 0 | [6] | 0 | [6] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | 545 | 272 | ||||
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 | 0 | 0 | ||||
Forward sales contracts | Not Designated as Hedging Instrument | Level 2 | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Asset, Fair Value, Gross Asset | 106 | 0 | 0 | ||||
Derivative Liability, Fair Value, Gross Liability | 0 | 545 | 272 | ||||
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 | 0 | 0 | ||||
Foreign Exchange | Not Designated as Hedging Instrument | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Asset, Fair Value, Gross Asset | 256 | 107 | [6] | 167 | [6] | ||
Derivative Liability, Fair Value, Gross Liability | 177 | 48 | 118 | ||||
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 | 256 | 107 | 167 | ||||
Derivative Liability, Fair Value, Gross Liability | 177 | 48 | 118 | ||||
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 | ||||
Equity Swap | Not Designated as Hedging Instrument | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Liability, Fair Value, Gross Liability | 0 | ||||||
Equity Swap | Not Designated as Hedging Instrument | Level 1 | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Liability, Fair Value, Gross Liability | 0 | ||||||
Equity Swap | Not Designated as Hedging Instrument | Level 3 | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Liability, Fair Value, Gross Liability | 0 | ||||||
Credit Risk Contract | Not Designated as Hedging Instrument | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Asset, Fair Value, Gross Asset | [6] | $ 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 10 | $ 0 | |||||
Credit Risk Contract | Not Designated as Hedging Instrument | Level 1 | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Liability, Fair Value, Gross Liability | 0 | ||||||
Credit Risk Contract | Not Designated as Hedging Instrument | Level 2 | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Liability, Fair Value, Gross Liability | 10 | ||||||
Credit Risk Contract | Not Designated as Hedging Instrument | Level 3 | |||||||
Recurring Fair Value Measurements | |||||||
Derivative Liability, Fair Value, Gross Liability | $ 0 | ||||||
[1] | (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the three months ended JuneĀ 30, 2015. | ||||||
[2] | (2) MSRs with a recorded investment of $20.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $20.1 million resulting in recognition of $0.6 million in recoveries included in loan sales and servicing income in the three months ended JuneĀ 30, 2015. | ||||||
[3] | (3) Collateral dependent impaired loans with a recorded investment of $82.7 million were reduced by specific valuation allowance allocations totaling $10.2 million to a reported net carrying value of $72.6 million. | ||||||
[4] | (4) Amounts do not include assets held at cost at JuneĀ 30, 2015. During the three months ended JuneĀ 30, 2015, the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $2.1 million included in noninterest expense. | ||||||
[5] | (5) Amounts do not include assets held at cost at JuneĀ 30, 2015. During the three months ended JuneĀ 30, 2015, the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition was immaterial. | ||||||
[6] | (1) Included in "Other assets" on the Consolidated Balance Sheets(2) Included in "Other liabilities" on the Consolidated Balance Sheets |
Fair Value Measurement (Changes
Fair Value Measurement (Changes in Level 3 Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||||
Fair Value Disclosures [Abstract] | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | $ 41,509 | $ 0 | $ 41,509 | $ 0 | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | 0 | 0 | 0 | 0 | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | (71,832) | 0 | (71,832) | 0 | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales | 0 | 0 | 0 | 0 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||||
Available-for-sale securities, Beginning balance | 346,685 | 349,425 | 339,187 | 347,610 | |||
True-up liability, Beginning balance | 13,707 | 11,983 | 13,294 | 11,463 | |||
Available-for-sale securities, Total unrealized gains/losses | [1] | 0 | 0 | 0 | 0 | ||
True-up liability, Total unrealized gains/losses | (299) | 598 | [1] | 114 | 1,118 | [1] | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | [2] | 4,561 | 1,253 | 11,697 | 3,021 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | [2] | 0 | 0 | 0 | 0 | ||
Available-for-sale securities, Settlements | (9,387) | 55 | (9,025) | 102 | |||
True-up liability, Settlements | 0 | 0 | 0 | 0 | |||
Available-for-sale securities, Ending balance | 311,536 | 350,733 | 311,536 | 350,733 | |||
True-up liability, Ending balance | $ 13,408 | $ 12,581 | $ 13,408 | $ 12,581 | |||
[1] | Reported in "Other expense | ||||||
[2] | 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 ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | ||||
Loans Held-for-sale, Fair Value Disclosure | $ 8,302 | $ 14,389 | $ 21,632 | |
Aggregate Fair Value | ||||
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | ||||
Loans Held-for-sale, Fair Value Disclosure | 14,389 | 21,632 | ||
Contractual Balance | ||||
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | ||||
Loans Held-for-sale, Fair Value Disclosure | 8,155 | 13,873 | 20,886 | |
Fair Value, Option, Loans Held as Assets, Aggregate Difference | $ 147 | $ 516 | [1] | $ 746 |
[1] | 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 ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2013 | |
Financial assets: | ||||||||
Cash and Cash Equivalents, at Carrying Value | $ 587,589 | $ 642,570 | $ 587,589 | $ 642,570 | $ 697,424 | $ 917,822 | ||
Cash and due from banks, Fair Value | 587,589 | 642,570 | 587,589 | 642,570 | 697,424 | |||
Available-for-sale Securities, Carrying Amount | 3,838,509 | 3,478,420 | 3,838,509 | 3,478,420 | 3,545,288 | |||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 2,787,513 | 3,052,118 | 2,787,513 | 3,052,118 | 2,903,609 | |||
Held-to-maturity Securities, Carrying Amount | 3,052,118 | 3,052,118 | 2,903,609 | |||||
Held-to-maturity Securities, Fair Value | 2,760,120 | 3,001,866 | 2,760,120 | 3,001,866 | 2,875,920 | |||
Other Investments, Carrying Amount | 147,967 | 148,433 | 147,967 | 148,433 | 148,654 | |||
Other Investments, Fair Value | 147,967 | 148,433 | 147,967 | 148,433 | 148,654 | |||
Loans Receivable Held-for-sale, Carrying Amount | 5,432 | 21,632 | 5,432 | 21,632 | 13,428 | |||
Loans Held-for-sale, Fair Value Disclosure | 8,302 | 21,632 | 8,302 | 21,632 | 14,389 | |||
Loans and Leases Receivable, Net Amount | 15,556,851 | 14,827,591 | 15,556,851 | 14,827,591 | 15,182,498 | |||
Originated loans and leases receivable, carrying value | 11,375,243 | 11,375,243 | 12,398,116 | |||||
Net noncovered loans, Fair Value | 13,077,485 | 11,458,318 | 13,077,485 | 11,458,318 | 12,235,530 | |||
Net covered loans and loss share receivable, Carrying Amount | 433,538 | 433,538 | 312,659 | |||||
Net covered loans and loss share receivable, Fair Value | 211,887 | 433,538 | 211,887 | 433,538 | 312,659 | |||
Accrued interest receivable, Carrying Amount | 66,501 | 63,172 | 66,501 | 63,172 | 63,657 | |||
Accrued interest receivable, Fair Value | 66,501 | 63,172 | 66,501 | 63,172 | 63,657 | |||
Derivative Assets, Carrying Amount | 48,073 | 50,550 | 48,073 | 50,550 | 55,197 | |||
Derivative Asset, Fair Value, Gross Asset | 48,073 | 50,550 | 48,073 | 50,550 | 55,197 | |||
Financial liabilities: | ||||||||
Deposits, Carrying Amount | 19,673,850 | 19,298,396 | 19,673,850 | 19,298,396 | 19,504,665 | |||
Deposits, Fair Value | 19,681,270 | 19,300,842 | 19,681,270 | 19,300,842 | 19,510,192 | |||
Total Federal funds purchased and securities sold under agreements to repurchase, Carrying Amount | 1,519,250 | 1,218,855 | 1,519,250 | 1,218,855 | 1,272,591 | |||
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 1,519,250 | 1,218,855 | 1,519,250 | 1,218,855 | 1,272,591 | |||
Wholesale Borrowings, Carrying Amount | 366,074 | 649,021 | 366,074 | 649,021 | 428,071 | |||
Other Borrowings, Fair Value | 369,337 | 652,615 | 369,337 | 652,615 | 430,676 | |||
Long-term Debt | 497,393 | 324,433 | 497,393 | 324,433 | 505,192 | |||
Long-term Debt, Fair Value | 509,900 | 335,757 | 509,900 | 335,757 | 516,476 | |||
Accrued interest payable, Carrying Amount | 9,910 | 8,311 | 9,910 | 8,311 | 9,820 | |||
Accrued interest payable, Fair Value | 9,910 | 8,311 | 9,910 | 8,311 | 9,820 | |||
Derivative liabilities, Carrying Amount | 51,497 | 57,544 | 51,497 | 57,544 | 55,439 | |||
Derivative Liability, Fair Value, Gross Liability | 51,497 | 57,544 | 51,497 | 57,544 | 55,439 | |||
Mortgage Servicing rights Valuation Allowance | (490) | (562) | (490) | (562) | (955) | $ (1,131) | $ (425) | $ (282) |
Mortgage Servicing Rights Net Carrying balance | 20,145 | 21,588 | 20,145 | 21,588 | 21,100 | |||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 641 | 137 | (465) | 280 | (700) | |||
Impaired Collateral Dependant Loans, Recorded Investment | 82,700 | 62,200 | 82,700 | 62,200 | 60,300 | |||
Determination Of Specific Allowance For Loan Losses | (10,200) | (6,200) | (10,200) | (6,200) | (4,300) | |||
Fair Value, Inputs, Level 1 | ||||||||
Financial assets: | ||||||||
Cash and due from banks, Fair Value | 642,570 | 642,570 | 697,424 | |||||
Available-for-sale Securities, Carrying Amount | 2,824 | 2,935 | 2,824 | 2,935 | 2,974 | |||
Held-to-maturity Securities, Fair Value | 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 | 3,524,149 | 3,124,752 | 3,524,149 | 3,124,752 | 3,203,127 | |||
Held-to-maturity Securities, Fair Value | 3,001,866 | 3,001,866 | 2,875,920 | |||||
Other Investments, Fair Value | 148,433 | 148,433 | 148,654 | |||||
Loans Held-for-sale, Fair Value Disclosure | 8,302 | 21,632 | 8,302 | 21,632 | 14,389 | |||
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 | 66,501 | 63,172 | 66,501 | 63,172 | 63,657 | |||
Derivative Asset, Fair Value, Gross Asset | 48,073 | 50,550 | 48,073 | 50,550 | 55,197 | |||
Financial liabilities: | ||||||||
Deposits, Fair Value | 19,681,270 | 19,300,842 | 19,681,270 | 19,300,842 | 19,510,192 | |||
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 1,218,855 | 1,218,855 | 1,272,591 | |||||
Other Borrowings, Fair Value | 369,337 | 652,615 | 369,337 | 652,615 | 430,676 | |||
Long-term Debt, Fair Value | 509,900 | 335,757 | 509,900 | 335,757 | 516,476 | |||
Accrued interest payable, Fair Value | 9,910 | 8,311 | 9,910 | 8,311 | 9,820 | |||
Derivative Liability, Fair Value, Gross Liability | 51,497 | 57,544 | 51,497 | 57,544 | 55,439 | |||
Level 3 | ||||||||
Financial assets: | ||||||||
Cash and due from banks, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Available-for-sale Securities, Carrying Amount | 311,536 | 350,733 | 311,536 | 350,733 | 339,187 | |||
Held-to-maturity Securities, Fair Value | 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 | |||
Loans and Leases Receivable, Net Amount | 3,166,228 | 3,166,228 | ||||||
Net noncovered loans, Fair Value | 13,077,485 | 11,458,318 | 13,077,485 | 11,458,318 | 12,235,530 | |||
Net covered loans and loss share receivable, Fair Value | 211,887 | 433,538 | 211,887 | 433,538 | 312,659 | |||
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 | 13,254,230 | 11,375,243 | 13,254,230 | 11,375,243 | 12,398,116 | |||
Acquired Loans | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 2,090,734 | 3,018,810 | 2,090,734 | 3,018,810 | 2,471,723 | |||
Net noncovered loans, Fair Value | 2,167,304 | 3,166,228 | 2,167,304 | 3,166,228 | 2,564,842 | |||
Acquired Loans | Fair Value, Inputs, Level 1 | ||||||||
Financial assets: | ||||||||
Net noncovered loans, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Acquired Loans | Fair Value, Inputs, Level 2 | ||||||||
Financial assets: | ||||||||
Net noncovered loans, Fair Value | 0 | $ 0 | 0 | $ 0 | 0 | |||
Acquired Loans | Level 3 | ||||||||
Financial assets: | ||||||||
Net noncovered loans, Fair Value | $ 2,167,304 | $ 2,167,304 | $ 2,564,842 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Mortgage Servicing Rights | $ 20,635 | $ 22,150 | $ 20,635 | $ 22,150 | $ 22,011 | $ 21,490 | $ 22,469 | $ 22,760 |
Mortgage Servicing rights Valuation Allowance | 490 | 562 | 490 | 562 | 955 | $ 1,131 | $ 425 | $ 282 |
Mortgage Servicing Rights Net Carrying balance | 20,145 | 21,588 | 20,145 | 21,588 | 21,100 | |||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | (641) | (137) | 465 | (280) | 700 | |||
Impaired Collateral Dependant Loans, Recorded Investment | 82,700 | 62,200 | 82,700 | 62,200 | 60,300 | |||
Determination Of Specific Allowance For Loan Losses | 10,200 | 6,200 | 10,200 | 6,200 | 4,300 | |||
Collateral Dependant Impaired and Non Accrual Loans Carrying Amount | $ 72,600 | 56,000 | $ 72,600 | $ 56,000 | 56,000 | |||
Impairment of Real Estate | 700 | 2,600 | ||||||
Impairment of Covered Other Real Esate Owned | $ 700 | 1,200 | ||||||
Percent of available for sale securities classified as level 2 | 92.00% | 92.00% | ||||||
Percentage of Level 3 investments in available for sale investment portfolio | 8.00% | 8.00% | ||||||
True up liability, discount period | 10 years | |||||||
True-up Liabitlity Discount Rate | 3.58% | 3.12% | 3.58% | 3.12% | ||||
True-up Liability Effect of Change in Discount Rate By One Percent | $ 600 | $ (700) | $ 600 | $ (700) | ||||
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 | $ 8,400 | 7,900 | $ 8,400 | 7,900 | $ 8,500 | |||
Percent of cumulative shared loss payments under loss sharing agreements | 25.00% | 25.00% | ||||||
Percent of FDIC Intrinsic Loss Estimate | 20.00% | |||||||
Intrinsic Loss Estimate of the FDIC | $ 152,000 | $ 152,000 | ||||||
Percent of Asset Premium Paid | 25.00% | 25.00% | ||||||
Asset Premium Paid | $ 21,000 | $ 21,000 | ||||||
George Washington | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Estimated fair value of true up liability | $ 5,000 | $ 4,700 | $ 5,000 | $ 4,700 | $ 4,800 | |||
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 | $ 34,400 | ||||||
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 | $ 12,000 | ||||||
Percent of cumulative shared loss payments under loss sharing agreements | 25.00% | 25.00% |
Mortgage Servicing Rights and74
Mortgage Servicing Rights and Mortgage Servicing Activity (Changes in the Carrying Amount of Mortgage Servicing Rights) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
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 | $ 1,363 | $ 1,363 | ||||||
Mortage Servicing Rights Amortized Value [Roll Forward] | ||||||||
Mortgage Servicing Rights Beginning of Period | 21,490 | $ 22,469 | 22,011 | $ 22,760 | $ 22,760 | |||
Mortgage Servicing Rights Additions | 63 | 643 | 533 | 1,207 | ||||
Amortization of Mortgage Servicing Rights (MSRs) | (918) | (962) | (1,909) | (1,817) | ||||
Mortgage Servicing Rights, End of Period | 20,635 | 22,150 | 20,635 | 22,150 | 22,011 | |||
Mortage Servicing Rights Valuation Rollforward [Roll Forward] | ||||||||
Mortgage Servicing rights Valuation Allowance Beginning of Period | 1,131 | 425 | 955 | 282 | 282 | |||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 641 | 137 | (465) | 280 | (700) | |||
Mortgage Servicing rights Valuation Allowance, End of Period | 490 | 562 | 490 | 562 | 955 | |||
Mortgage Servicing Rights Net Carrying balance | 20,145 | 21,588 | 20,145 | 21,588 | 21,100 | |||
Fair Value of Mortgage Servicing Rights | 20,809 | [1] | 21,987 | 20,809 | [1] | 21,987 | 21,228 | [1] |
Level 3 | ||||||||
Mortage Servicing Rights Valuation Rollforward [Roll Forward] | ||||||||
Fair Value of Mortgage Servicing Rights | 20,809 | 21,987 | 20,809 | 21,987 | $ 21,228 | |||
Residential Mortgages | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Servicing Asset | $ 2,500,000 | $ 2,700,000 | $ 2,500,000 | $ 2,700,000 | ||||
[1] | (2) MSRs with a recorded investment of $20.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $20.1 million resulting in recognition of $0.6 million in recoveries included in loan sales and servicing income in the three months ended JuneĀ 30, 2015. |
Mortgage Servicing Rights and75
Mortgage Servicing Rights and Mortgage Servicing Activity (Changes in Key Economic Assumptions) (Details) - Jun. 30, 2015 - USD ($) $ in Thousands | Total |
Changes in Key Assumptions [Abstract] | |
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 | $ 1,268 |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 9.38% |
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 | $ 656 |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 10.10% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Life | 99 months 27 days |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | $ 701 |
(Narrative) Details)
(Narrative) Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Servicing Assets at Fair Value [Line Items] | ||||||||
Guarantor Obligations, Short-Term | $ 145,800 | $ 145,800 | ||||||
Mortgage Servicing Rights | $ 20,635 | $ 22,150 | $ 20,635 | $ 22,150 | $ 21,490 | $ 22,011 | $ 22,469 | $ 22,760 |
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% | 10.00% | ||||||
Residential Mortgages | ||||||||
Servicing Assets at Fair Value [Line Items] | ||||||||
Loan servicing fees | $ 1,600 | 1,600 | $ 3,200 | 3,300 | ||||
Servicing Asset | 2,500,000 | $ 2,700,000 | 2,500,000 | $ 2,700,000 | ||||
Manufactured Housing | ||||||||
Servicing Assets at Fair Value [Line Items] | ||||||||
Financing Receivable, Loans Sold to Third Party Investors | $ 3,700 | $ 3,700 |
Commitments and Contingencies77
Commitments and Contingencies (Schedule of Commitments to Extend Credit) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | $ 6,144,177 | $ 6,136,313 | $ 5,666,483 |
Commercial Loan | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | 3,746,824 | 3,748,690 | 3,386,052 |
Total consumer | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | $ 2,397,353 | $ 2,387,623 | $ 2,280,431 |
Commitments and Contingencies78
Commitments and Contingencies (Schedule of Guarantor Obligations) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Short-Term | $ 145,800 | ||
Guarantor Obligations, Current Carrying Value | 284,309 | $ 287,461 | $ 235,874 |
Standby Letters of Credit | |||
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | 255,418 | 242,390 | 201,212 |
Loans Sold with Recourse | |||
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | $ 28,891 | $ 45,071 | $ 34,662 |
Commitments and Contingencies79
Commitments and Contingencies (Schedule of Changes in Repurchase Reserve) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Financing Receivable, Repurchase Reserve, Beginning Balance | $ 7,776 | $ 9,317 | $ 8,374 | $ 9,851 |
Financing Receivable, Repurchase Reserve Net Realized Gains (Losses) | 363 | 164 | (39) | 2,757 |
Financing Receivable, Repurchase Reserve, Period Increase (Decrease) | (361) | (459) | (557) | (3,586) |
Financing Receivable, Repurchase Reserve, Ending Balance | 7,778 | 9,022 | 7,778 | 9,022 |
Residential Mortgages | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Repurchase Reserve, Assumed Obligation | 6,650 | 6,650 | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Financing Receivable, Repurchase Reserve, Beginning Balance | 6,650 | 8,200 | 7,250 | 8,737 |
Financing Receivable, Repurchase Reserve Net Realized Gains (Losses) | 363 | 164 | (39) | 2,757 |
Financing Receivable, Repurchase Reserve, Period Increase (Decrease) | (363) | (464) | (561) | (3,594) |
Financing Receivable, Repurchase Reserve, Ending Balance | 6,650 | 7,900 | 6,650 | 7,900 |
Manufactured Housing | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Financing Receivable, Repurchase Reserve, Beginning Balance | 1,126 | 1,117 | 1,124 | 1,114 |
Financing Receivable, Repurchase Reserve Net Realized Gains (Losses) | 2 | 0 | 4 | 0 |
Financing Receivable, Repurchase Reserve, Period Increase (Decrease) | 0 | 5 | 0 | 8 |
Financing Receivable, Repurchase Reserve, Ending Balance | $ 1,128 | $ 1,122 | $ 1,128 | $ 1,122 |
Commitments and Contingencies80
Commitments and Contingencies (Narratives) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Asset sales [Line Items] | ||||||
Financing Receivable, Repurchase Reserve | $ 7,778 | $ 7,776 | $ 8,374 | $ 9,022 | $ 9,317 | $ 9,851 |
Allowance for Loan and Leases Losses, Reserve Associated with Loans Sold with Recourse | 7,800 | 8,400 | 9,000 | |||
Allowance for Loan and Lease Losses, Unfunded Lending Commitments | 3,900 | 5,800 | 7,100 | |||
Residential Mortgages | ||||||
Asset sales [Line Items] | ||||||
Financing Receivable, Loans Sold to Third Party Investors | 22,200 | 38,100 | 24,100 | |||
Financing Receivable, Repurchase Reserve | 6,650 | 6,650 | 7,250 | 7,900 | 8,200 | 8,737 |
Manufactured Housing | ||||||
Asset sales [Line Items] | ||||||
Financing Receivable, Loans Sold to Third Party Investors | 3,700 | |||||
Financing Receivable, Repurchase Reserve | 1,128 | $ 1,126 | $ 1,124 | $ 1,122 | $ 1,117 | $ 1,114 |
Allowance for Loan and Leases Losses, Reserve Associated with Loans Sold with Recourse | $ 1,100 |
Changes and Reclassifications81
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Amortization of prior service cost reclassified to other noninterest expense, before Tax | $ 410 | $ 1,097 | $ 820 | $ 1,097 | ||||
Amortization of prior service cost reclassified to other noninterest expense, Tax | 144 | 383 | 287 | 383 | ||||
Amortization of prior service cost reclassified to other noninterest expense, Net of Tax | 266 | 714 | 533 | 714 | ||||
Accumulated Other Comprehensive Income (Loss), before Tax | (104,028) | (60,780) | (104,028) | (60,780) | ||||
accumulated other comprehensive income, tax | (36,407) | (21,273) | (36,407) | (21,273) | ||||
Accumulated other comprehensive loss | (67,621) | (39,507) | (67,621) | (39,507) | $ (71,892) | |||
Changes in unrealized securities' holding gains/(losses), before Tax | (28,642) | 22,456 | 5,475 | 40,500 | ||||
Changes in unrealized securities' holding gains/(losses), Tax | (10,024) | 7,860 | 1,916 | 14,175 | ||||
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax | (18,618) | 14,596 | 3,559 | 26,325 | ||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, before Tax | (575) | (494) | (1,079) | (988) | ||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, Tax | (203) | (173) | (378) | (346) | ||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity , Net of Tax | (372) | (321) | (701) | (642) | ||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income, before Tax | (567) | (80) | (921) | (136) | ||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Tax | (198) | (28) | (322) | (48) | ||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Net of Tax | (369) | (52) | (599) | (88) | ||||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | (98,972) | $ (100,520) | (55,084) | $ (57,812) | (98,972) | (55,084) | (102,068) | $ (57,812) |
Accumulated other comprehensive income reclassifications, benefit plan, tax | (34,638) | (35,181) | (19,279) | (20,233) | (34,638) | (19,279) | (35,722) | (20,233) |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | (64,334) | (65,339) | (35,805) | (37,579) | (64,334) | (35,805) | (66,346) | (37,579) |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 | 0 | ||||
Amortization of actuarial losses/(gains), before Tax | 1,138 | 1,631 | 2,276 | 1,631 | ||||
Amortization of actuarial losses/(gains), Tax | 399 | 571 | 797 | 571 | ||||
Amortization of actuarial losses/(gains), Net of Tax | 739 | 1,060 | 1,479 | 1,060 | ||||
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 | ||||
Accumulated Net Unrealized Investment Gain (Loss) | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Accumulated Other Comprehensive Income (Loss), before Tax | (5,056) | 24,728 | (5,696) | (27,578) | (5,056) | (5,696) | (8,531) | (45,072) |
accumulated other comprehensive income, tax | (1,769) | 8,656 | (1,994) | (9,653) | (1,769) | (1,994) | (2,985) | (15,775) |
Accumulated other comprehensive loss | $ (3,287) | $ 16,072 | $ (3,702) | $ (17,925) | $ (3,287) | $ (3,702) | $ (5,546) | $ (29,297) |
Changes and Reclassifications82
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Tax Effect of Changes and Reclassifications Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Accumulated Other Comprehensive Income (Loss), before Tax | $ (104,028) | $ (60,780) | $ (104,028) | $ (60,780) | ||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income, before Tax | 567 | 80 | 921 | 136 | ||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Tax | 198 | 28 | 322 | 48 | ||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Net of Tax | (369) | (52) | (599) | (88) | ||||
Accumulated other comprehensive loss | (67,621) | (39,507) | (67,621) | (39,507) | $ (71,892) | |||
accumulated other comprehensive income, tax | (36,407) | (21,273) | (36,407) | (21,273) | ||||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | (98,972) | (55,084) | (98,972) | (55,084) | $ (100,520) | (102,068) | $ (57,812) | $ (57,812) |
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, Tax | (203) | (173) | (378) | (346) | ||||
Accumulated Net Unrealized Investment Gain (Loss) | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Accumulated Other Comprehensive Income (Loss), before Tax | (5,056) | (5,696) | (5,056) | (5,696) | 24,728 | (8,531) | (27,578) | (45,072) |
Accumulated other comprehensive loss | (3,287) | (3,702) | (3,287) | (3,702) | 16,072 | (5,546) | (17,925) | (29,297) |
accumulated other comprehensive income, tax | $ (1,769) | $ (1,994) | $ (1,769) | $ (1,994) | $ 8,656 | $ (2,985) | $ (9,653) | $ (15,775) |