Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 14, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'MTB | ' | ' |
Entity Registrant Name | 'M&T BANK CORP | ' | ' |
Entity Central Index Key | '0000036270 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 131,031,744 | ' |
Entity Public Float | ' | ' | $12,619,414,344 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $1,573,361 | $1,983,615 |
Interest-bearing deposits at banks | 1,651,138 | 129,945 |
Federal funds sold | 99,573 | 3,000 |
Trading account | 376,131 | 488,966 |
Investment securities (includes pledged securities that can be sold or repledged of $1,696,438 at December 31, 2013; $1,801,842 at December 31, 2012) | ' | ' |
Available for sale (cost: $4,444,365 at December 31, 2013; $4,643,070 at December 31, 2012) | 4,531,786 | 4,739,437 |
Held to maturity (fair value: $3,860,127 at December 31, 2013; $976,883 at December 31, 2012) | 3,966,130 | 1,032,276 |
Other (fair value: $298,581 at December 31, 2013; $302,648 at December 31, 2012) | 298,581 | 302,648 |
Total investment securities | 8,796,497 | 6,074,361 |
Loans and leases | 64,325,783 | 66,790,186 |
Unearned discount | -252,624 | -219,229 |
Loans and leases, net of unearned discount | 64,073,159 | 66,570,957 |
Allowance for credit losses | -916,676 | -925,860 |
Loans and leases, net | 63,156,483 | 65,645,097 |
Premises and equipment | 633,520 | 594,652 |
Goodwill | 3,524,625 | 3,524,625 |
Core deposit and other intangible assets | 68,851 | 115,763 |
Accrued interest and other assets | 5,282,212 | 4,448,779 |
Total assets | 85,162,391 | 83,008,803 |
Liabilities | ' | ' |
Noninterest-bearing deposits | 24,661,007 | 24,240,802 |
NOW accounts | 1,989,441 | 1,979,619 |
Savings deposits | 36,621,580 | 33,783,947 |
Time deposits | 3,523,838 | 4,562,366 |
Deposits at Cayman Islands office | 322,746 | 1,044,519 |
Total deposits | 67,118,612 | 65,611,253 |
Federal funds purchased and agreements to repurchase securities | 260,455 | 1,074,482 |
Accrued interest and other liabilities | 1,368,922 | 1,512,717 |
Long-term borrowings | 5,108,870 | 4,607,758 |
Total liabilities | 73,856,859 | 72,806,210 |
Shareholders' equity | ' | ' |
Preferred stock, $1.00 par, 1,000,000 shares authorized; Issued and outstanding: Liquidation preference of $1,000 per share: 381,500 shares at December 31, 2013 and December 31, 2012; Liquidation preference of $10,000 per share: 50,000 shares at December 31, 2013 and December 31, 2012 | 881,500 | 872,500 |
Common stock, $.50 par, 250,000,000 shares authorized, 130,516,364 shares issued at December 31, 2013; 128,176,912 shares issued at December 31, 2012 | 65,258 | 64,088 |
Common stock issuable, 47,231 shares at December 31, 2013; 57,409 shares at December 31, 2012 | 2,915 | 3,473 |
Additional paid-in capital | 3,232,014 | 3,025,520 |
Retained earnings | 7,188,004 | 6,477,276 |
Accumulated other comprehensive income (loss), net | -64,159 | -240,264 |
Total shareholders' equity | 11,305,532 | 10,202,593 |
Total liabilities and shareholders' equity | $85,162,391 | $83,008,803 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Pledged securities that can be sold or repledged | $1,696,438 | $1,801,842 |
Investment securities, available for sale, amortized cost | 4,444,365 | 4,643,070 |
Investment securities, held to maturity, fair value | 3,860,127 | 976,883 |
Other, fair value | $298,581 | $302,648 |
Preferred stock, par value | $1 | $1 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, par value | $0.50 | $0.50 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 130,516,364 | 128,176,912 |
Common stock issuable, shares | 47,231 | 57,409 |
Series A And Series C [Member] | ' | ' |
Preferred stock, shares issued and outstanding | 381,500 | 381,500 |
Preferred stock, liquidation preference per share | $1,000 | $1,000 |
Series D Preferred Stock [Member] | ' | ' |
Preferred stock, shares issued and outstanding | 50,000 | 50,000 |
Preferred stock, liquidation preference per share | $10,000 | $10,000 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income | ' | ' | ' |
Loans and leases, including fees | $2,734,708 | $2,704,156 | $2,522,567 |
Deposits at banks | 5,201 | 1,221 | 2,934 |
Federal funds sold | 104 | 21 | 57 |
Agreements to resell securities | 10 | ' | 132 |
Trading account | 1,265 | 1,126 | 1,198 |
Investment securities | ' | ' | ' |
Fully taxable | 209,244 | 227,116 | 256,057 |
Exempt from federal taxes | 6,802 | 8,045 | 9,142 |
Total interest income | 2,957,334 | 2,941,685 | 2,792,087 |
Interest expense | ' | ' | ' |
NOW accounts | 1,287 | 1,343 | 1,145 |
Savings deposits | 54,948 | 68,011 | 84,314 |
Time deposits | 26,439 | 46,102 | 71,014 |
Deposits at Cayman Islands office | 1,018 | 1,130 | 962 |
Short-term borrowings | 430 | 1,286 | 1,030 |
Long-term borrowings | 199,983 | 225,297 | 243,866 |
Total interest expense | 284,105 | 343,169 | 402,331 |
Net interest income | 2,673,229 | 2,598,516 | 2,389,756 |
Provision for credit losses | 185,000 | 204,000 | 270,000 |
Net interest income after provision for credit losses | 2,488,229 | 2,394,516 | 2,119,756 |
Other income | ' | ' | ' |
Mortgage banking revenues | 331,265 | 349,064 | 166,021 |
Service charges on deposit accounts | 446,941 | 446,698 | 455,095 |
Trust income | 496,008 | 471,852 | 332,385 |
Brokerage services income | 65,647 | 59,059 | 56,470 |
Trading account and foreign exchange gains | 40,828 | 35,634 | 27,224 |
Gain on bank investment securities | 56,457 | 9 | 150,187 |
Total other-than-temporary impairment ("OTTI") losses | -1,884 | -32,067 | -72,915 |
Portion of OTTI losses recognized in other comprehensive income (before taxes) | -7,916 | -15,755 | -4,120 |
Net OTTI losses recognized in earnings | -9,800 | -47,822 | -77,035 |
Equity in earnings of Bayview Lending Group LLC | -16,126 | -21,511 | -24,231 |
Other revenues from operations | 453,985 | 374,287 | 496,796 |
Total other income | 1,865,205 | 1,667,270 | 1,582,912 |
Other expense | ' | ' | ' |
Salaries and employee benefits | 1,355,178 | 1,314,540 | 1,203,993 |
Equipment and net occupancy | 264,327 | 257,551 | 249,514 |
Printing, postage and supplies | 39,557 | 41,929 | 40,917 |
Amortization of core deposit and other intangible assets | 46,912 | 60,631 | 61,617 |
FDIC assessments | 69,584 | 101,110 | 100,230 |
Other costs of operations | 860,327 | 733,499 | 821,797 |
Total other expense | 2,635,885 | 2,509,260 | 2,478,068 |
Income (loss) before taxes | 1,717,549 | 1,552,526 | 1,224,600 |
Income taxes | 579,069 | 523,028 | 365,121 |
Net income | 1,138,480 | 1,029,498 | 859,479 |
Net income available to common shareholders | ' | ' | ' |
Basic | 1,062,429 | 953,390 | 781,743 |
Diluted | $1,062,496 | $953,429 | $781,765 |
Net income per common share | ' | ' | ' |
Basic | $8.26 | $7.57 | $6.37 |
Diluted | $8.20 | $7.54 | $6.35 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Partners Capital [Abstract] | ' | ' | ' |
Net income | $1,138,480 | $1,029,498 | $859,479 |
Other comprehensive income, net of tax and reclassification adjustments: | ' | ' | ' |
Net unrealized gains (losses) on investment securities | -2,865 | 114,825 | 6,687 |
Reclassification to income for amortization of gains on terminated cash flow hedges | ' | -112 | -281 |
Foreign currency translation adjustment | 381 | 519 | -803 |
Defined benefit plans liability adjustment | 178,589 | 945 | -156,824 |
Total gain (loss) during the period | 176,105 | 116,177 | -151,221 |
Total comprehensive income | $1,314,585 | $1,145,675 | $708,258 |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net income | $1,138,480 | $1,029,498 | $859,479 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' | ' |
Provision for credit losses | 185,000 | 204,000 | 270,000 |
Depreciation and amortization of premises and equipment | 91,469 | 84,375 | 80,304 |
Amortization of capitalized servicing rights | 65,354 | 59,555 | 55,859 |
Amortization of core deposit and other intangible assets | 46,912 | 60,631 | 61,617 |
Provision for deferred income taxes | 139,785 | 131,858 | 33,924 |
Asset write-downs | 17,918 | 63,790 | 170,632 |
Net gain on sales of assets | -127,890 | -6,868 | -187,120 |
Net change in accrued interest receivable, payable | -10,523 | -13,898 | -27,508 |
Net change in other accrued income and expense | 71,523 | -200,704 | 147,465 |
Net change in loans originated for sale | -674,062 | -924,839 | 238,156 |
Net change in trading account assets and liabilities | -11,642 | 12,583 | 69,438 |
Net cash provided by operating activities | 932,324 | 499,981 | 1,772,246 |
Cash flows from investing activities | ' | ' | ' |
Proceeds from sales of investment securities Available for sale | 1,081,802 | 49,528 | 1,909,829 |
Proceeds from sales of investment securities Other | 13,172 | 78,071 | 116,410 |
Proceeds from maturities of investment securities Available for sale | 1,034,564 | 1,585,260 | 1,307,567 |
Proceeds from maturities of investment securities Held to maturity | 287,837 | 329,279 | 272,841 |
Purchases of investment securities Available for sale | -197,931 | -28,161 | -3,491,759 |
Purchases of investment securities Held to maturity | -1,977,064 | -285,125 | -28,454 |
Purchases of investment securities Other | -9,105 | -13,833 | -30,727 |
Net decrease in agreements to resell securities | ' | ' | 15,000 |
Net (increase) decrease in loans and leases | 123,120 | -5,672,747 | -2,233,600 |
Net (increase) decrease in interest-bearing deposits at banks | -1,521,193 | 25,015 | 2,552,527 |
Capital expenditures, net | -129,563 | -91,519 | -70,008 |
Acquisitions, net of cash acquired Banks and bank holding companies | ' | ' | 178,940 |
Purchase of Wilmington Trust Corporation preferred stock | ' | ' | -330,000 |
Net (increase) decrease in loan servicing advances | -1,004,923 | -69,084 | 55,698 |
Other, net | 95,706 | 32,458 | 144,668 |
Net cash provided (used) by investing activities | -2,203,578 | -4,060,858 | 368,932 |
Cash flows from financing activities | ' | ' | ' |
Net increase in deposits | 1,513,884 | 6,230,391 | 742,653 |
Net increase (decrease) in short-term borrowings | -814,027 | 292,422 | -313,050 |
Proceeds from long-term borrowings | 799,760 | ' | ' |
Payments on long-term borrowings | -261,212 | -2,080,167 | -1,809,984 |
Dividends paid - common | -365,349 | -357,717 | -350,129 |
Dividends paid - preferred | -53,450 | -53,450 | -48,203 |
Proceeds from issuance of preferred stock | ' | ' | 495,000 |
Redemption of preferred stock | ' | ' | -370,000 |
Other, net | 137,967 | 63,616 | 31,177 |
Net cash provided (used) by financing activities | 957,573 | 4,095,095 | -1,622,536 |
Net increase (decrease) in cash and cash equivalents | -313,681 | 534,218 | 518,642 |
Cash and cash equivalents at beginning of year | 1,986,615 | 1,452,397 | 933,755 |
Cash and cash equivalents at end of year | 1,672,934 | 1,986,615 | 1,452,397 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Interest received during the year | 2,894,699 | 2,931,409 | 2,807,071 |
Interest paid during the year | 301,734 | 371,887 | 440,810 |
Income taxes paid during the year | 389,008 | 405,598 | 251,810 |
Supplemental schedule of noncash investing and financing activities | ' | ' | ' |
Available-for-sale investment securities | 1,690,490 | ' | ' |
Held-to-maturity investment securities | 1,245,444 | ' | ' |
Capitalized servicing rights | 30,879 | ' | ' |
Real estate acquired in settlement of loans | 44,804 | 48,932 | 81,588 |
Acquisitions Fair value of | ' | ' | ' |
Assets acquired (noncash) | ' | ' | 10,666,102 |
Liabilities assumed | ' | ' | 10,044,555 |
Common stock issued | ' | ' | $405,557 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes In Shareholders' Equity (USD $) | Total | Series C stock warrants [Member] | Series A stock warrants [Member] | Preferred stock [Member] | Preferred stock [Member] | Preferred stock [Member] | Common stock [Member] | Common stock [Member] | Common stock [Member] | Common stock issuable [Member] | Common stock issuable [Member] | Common stock issuable [Member] | Additional paid-in capital [Member] | Additional paid-in capital [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Retained earnings [Member] | Retained earnings [Member] | Accumulated other comprehensive income (loss), net [Member] | Accumulated other comprehensive income (loss), net [Member] | Accumulated other comprehensive income (loss), net [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] |
In Thousands, unless otherwise specified | Series C stock warrants [Member] | Series A stock warrants [Member] | Series C stock warrants [Member] | Series A stock warrants [Member] | Series C stock warrants [Member] | Series A stock warrants [Member] | Series C stock warrants [Member] | Series A stock warrants [Member] | Series C stock warrants [Member] | Series A stock warrants [Member] | Series C stock warrants [Member] | Series A stock warrants [Member] | Series C stock warrants [Member] | Series A stock warrants [Member] | ||||||||||
Beginning Balance at Dec. 31, 2010 | $8,357,695 | ' | ' | $740,657 | ' | ' | $60,198 | ' | ' | $4,189 | ' | ' | $2,398,615 | ' | ' | $5,426,701 | ' | ' | ($205,220) | ' | ' | ($67,445) | ' | ' |
Total comprehensive income | 708,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 859,479 | ' | ' | -151,221 | ' | ' | ' | ' | ' |
Acquisition of Wilmington Trust Corporation - common stock issued | 405,557 | ' | ' | ' | ' | ' | 2,348 | ' | ' | ' | ' | ' | 403,209 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partial redemption of Series A preferred stock | -370,000 | ' | ' | -370,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Series B preferred stock into 433,144 shares of common stock | ' | ' | ' | -26,500 | ' | ' | 192 | ' | ' | ' | ' | ' | 21,754 | ' | ' | ' | ' | ' | ' | ' | ' | 4,554 | ' | ' |
Issuance of Series D preferred stock | 495,000 | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | -5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock cash dividends | -48,203 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -48,203 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of preferred stock discount | ' | ' | ' | 20,428 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -20,428 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense, net | 43,912 | ' | ' | ' | ' | ' | 50 | ' | ' | ' | ' | ' | 12,196 | ' | ' | ' | ' | ' | ' | ' | ' | 31,666 | ' | ' |
Exercises of stock options, net | 25,854 | ' | ' | ' | ' | ' | 48 | ' | ' | ' | ' | ' | -4,300 | ' | ' | ' | ' | ' | ' | ' | ' | 30,106 | ' | ' |
Directors' stock plan | 1,431 | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | 813 | ' | ' | ' | ' | ' | ' | ' | ' | 612 | ' | ' |
Deferred compensation plans, net, including dividend equivalents | 38 | ' | ' | ' | ' | ' | ' | ' | ' | -117 | ' | ' | -164 | ' | ' | -188 | ' | ' | ' | ' | ' | 507 | ' | ' |
Other | 1,863 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,863 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock cash dividends - $2.80 per share | -350,196 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -350,196 | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance at Dec. 31, 2011 | 9,271,209 | ' | ' | 864,585 | ' | ' | 62,842 | ' | ' | 4,072 | ' | ' | 2,828,986 | ' | ' | 5,867,165 | ' | ' | -356,441 | ' | ' | ' | ' | ' |
Total comprehensive income | 1,145,675 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,029,498 | ' | ' | 116,177 | ' | ' | ' | ' | ' |
Preferred stock cash dividends | -53,450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -53,450 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of preferred stock discount | ' | ' | ' | 7,915 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,915 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense, net | 48,166 | ' | ' | ' | ' | ' | 229 | ' | ' | ' | ' | ' | 47,937 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercises of stock options, net | 135,945 | ' | ' | ' | ' | ' | 928 | ' | ' | ' | ' | ' | 135,017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock purchase plan | 10,117 | ' | ' | ' | ' | ' | 75 | ' | ' | ' | ' | ' | 10,042 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Directors' stock plan | 1,480 | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | 1,471 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred compensation plans, net, including dividend equivalents | -161 | ' | ' | ' | ' | ' | 5 | ' | ' | -599 | ' | ' | 593 | ' | ' | -160 | ' | ' | ' | ' | ' | ' | ' | ' |
Other | 1,474 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,474 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock cash dividends - $2.80 per share | -357,862 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -357,862 | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance at Dec. 31, 2012 | 10,202,593 | ' | ' | 872,500 | ' | ' | 64,088 | ' | ' | 3,473 | ' | ' | 3,025,520 | ' | ' | 6,477,276 | ' | ' | -240,264 | ' | ' | ' | ' | ' |
Total comprehensive income | 1,314,585 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,138,480 | ' | ' | 176,105 | ' | ' | ' | ' | ' |
Preferred stock cash dividends | -53,450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -53,450 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of preferred stock discount | ' | ' | ' | 9,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock warrants into common stock | ' | ' | ' | ' | ' | ' | ' | 93 | 13 | ' | ' | ' | ' | -93 | -13 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense, net | 38,027 | ' | ' | ' | ' | ' | 137 | ' | ' | ' | ' | ' | 37,890 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercises of stock options, net | 164,805 | ' | ' | ' | ' | ' | 914 | ' | ' | ' | ' | ' | 163,891 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Directors' stock plan | 1,644 | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | 1,636 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred compensation plans, net, including dividend equivalents | -109 | ' | ' | ' | ' | ' | 5 | ' | ' | -558 | ' | ' | 575 | ' | ' | -131 | ' | ' | ' | ' | ' | ' | ' | ' |
Other | 2,608 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,608 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock cash dividends - $2.80 per share | -365,171 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -365,171 | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance at Dec. 31, 2013 | $11,305,532 | ' | ' | $881,500 | ' | ' | $65,258 | ' | ' | $2,915 | ' | ' | $3,232,014 | ' | ' | $7,188,004 | ' | ' | ($64,159) | ' | ' | ' | ' | ' |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes In Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common stock [Member] | ' | ' | ' |
Shares of common stock issued upon conversion of Series B preferred stock | ' | ' | 433,144 |
Retained earnings [Member] | ' | ' | ' |
Common stock per share dividend amount | $2.80 | $2.80 | $2.80 |
Series C stock warrants [Member] | Common stock [Member] | ' | ' | ' |
Number of warrants exercised into shares | 407,542 | ' | ' |
Number of shares converted from warrants | 186,589 | ' | ' |
Series A stock warrants [Member] | Common stock [Member] | ' | ' | ' |
Number of warrants exercised into shares | 69,127 | ' | ' |
Number of shares converted from warrants | 25,427 | ' | ' |
Significant_accounting_policie
Significant accounting policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Significant accounting policies | ' |
1. Significant accounting policies | |
M&T Bank Corporation (“M&T”) is a bank holding company headquartered in Buffalo, New York. Through subsidiaries, M&T provides individuals, corporations and other businesses, and institutions with commercial and retail banking services, including loans and deposits, trust, mortgage banking, asset management, insurance and other financial services. Banking activities are largely focused on consumers residing in New York State, Pennsylvania, Maryland, Delaware, Virginia and the District of Columbia and on small and medium-size businesses based in those areas. Banking services are also provided in West Virginia and New Jersey, while certain subsidiaries also conduct activities in other areas. | |
The accounting and reporting policies of M&T and subsidiaries (“the Company”) conform to generally accepted accounting principles (“GAAP”) and to general practices within the banking industry. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The more significant accounting policies are as follows: | |
Consolidation | |
The consolidated financial statements include M&T and all of its subsidiaries. All significant intercompany accounts and transactions of consolidated subsidiaries have been eliminated in consolidation. The financial statements of M&T included in note 25 report investments in subsidiaries under the equity method. Information about some limited purpose entities that are affiliates of the Company but are not included in the consolidated financial statements appears in note 19. | |
Consolidated Statement of Cash Flows | |
For purposes of this statement, cash and due from banks and federal funds sold are considered cash and cash equivalents. | |
Securities purchased under agreements to resell and securities sold under agreements to repurchase | |
Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions and are recorded at amounts equal to the cash or other consideration exchanged. It is generally the Company’s policy to take possession of collateral pledged to secure agreements to resell. | |
Trading account | |
Financial instruments used for trading purposes are stated at fair value. Realized gains and losses and unrealized changes in fair value of financial instruments utilized in trading activities are included in “trading account and foreign exchange gains” in the consolidated statement of income. | |
Investment securities | |
Investments in debt securities are classified as held to maturity and stated at amortized cost when management has the positive intent and ability to hold such securities to maturity. Investments in other debt securities and equity securities having readily determinable fair values are classified as available for sale and stated at estimated fair value. Amortization of premiums and accretion of discounts for investment securities available for sale and held to maturity are included in interest income. | |
Other securities are stated at cost and include stock of the Federal Reserve Bank of New York and the Federal Home Loan Bank (“FHLB”) of New York. | |
The cost basis of individual securities is written down through a charge to earnings when declines in value below amortized cost are considered to be other than temporary. In cases where fair value is less than amortized cost and the Company intends to sell a debt security, it is more likely than not to be required to sell a debt security before recovery of its amortized cost basis, or the Company does not expect to recover the entire amortized cost basis of a debt security, an other-than-temporary impairment is considered to have occurred. If the Company intends to sell the debt security or more likely than not will be required to sell the security before recovery of its amortized cost basis, the other-than-temporary impairment is recognized in earnings equal to the entire difference between the debt security’s amortized cost basis and its fair value. If the Company does not expect to recover the entire amortized cost basis of the security, the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the other-than-temporary impairment is separated into (a) the amount representing the credit loss and (b) the amount related to all other factors. The amount of the other-than-temporary impairment related to the credit loss is recognized in earnings while the amount related to other factors is recognized in other comprehensive income, net of applicable taxes. Subsequently, the Company accounts for the other-than-temporarily impaired debt security as if the security had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the other-than-temporary impairment recognized in earnings. The cost basis of individual equity securities is written down to estimated fair value through a charge to earnings when declines in value below cost are considered to be other than temporary. Realized gains and losses on the sales of investment securities are determined using the specific identification method. | |
Loans and leases | |
The Company’s accounting methods for loans depends on whether the loans were originated by the Company or were acquired in a business combination. | |
Originated loans and leases | |
Interest income on loans is accrued on a level yield method. Loans are placed on nonaccrual status and previously accrued interest thereon is charged against income when principal or interest is delinquent 90 days, unless management determines that the loan status clearly warrants other treatment. Nonaccrual commercial loans and commercial real estate loans are returned to accrual status when borrowers have demonstrated an ability to repay their loans and there are no delinquent principal and interest payments. Consumer loans not secured by residential real estate are returned to accrual status when all past due principal and interest payments have been paid by the borrower. Loans secured by residential real estate are returned to accrual status when they are deemed to have an insignificant delay in payments of 90 days or less. Loan balances are charged off when it becomes evident that such balances are not fully collectible. For commercial loans and commercial real estate loans, charge-offs are recognized after an assessment by credit personnel of the capacity and willingness of the borrower to repay, the estimated value of any collateral, and any other potential sources of repayment. A charge-off is recognized when, after such assessment, it becomes evident that the loan balance is not fully collectible. For loans secured by residential real estate, the excess of the loan balances over the net realizable value of the property collateralizing the loan is charged-off when the loan becomes 150 days delinquent. Consumer loans are generally charged-off when the loans are 91 to 180 days past due, depending on whether the loan is collateralized and the status of repossession activities with respect to such collateral. Loan fees and certain direct loan origination costs are deferred and recognized as an interest yield adjustment over the life of the loan. Net deferred fees have been included in unearned discount as a reduction of loans outstanding. Commitments to sell real estate loans are utilized by the Company to hedge the exposure to changes in fair value of real estate loans held for sale. The carrying value of hedged real estate loans held for sale recorded in the consolidated balance sheet includes changes in estimated fair market value during the hedge period, typically from the date of close through the sale date. Valuation adjustments made on these loans and commitments are included in “mortgage banking revenues.” | |
Except for consumer and residential mortgage loans that are considered smaller balance homogenous loans and are evaluated collectively, the Company considers a loan to be impaired for purposes of applying GAAP when, based on current information and events, it is probable that the Company will be unable to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days. Regardless of loan type, the Company considers a loan to be impaired if it qualifies as a troubled debt restructuring. Impaired loans are classified as either nonaccrual or as loans renegotiated at below market rates which continue to accrue interest, provided that a credit assessment of the borrower’s financial condition results in an expectation of full repayment under the modified contractual terms. Certain loans greater than 90 days delinquent are not considered impaired if they are well-secured and in the process of collection. Loans less than 90 days delinquent are deemed to have an insignificant delay in payment and are generally not considered impaired. Impairment of a loan is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of collateral if the loan is collateral-dependent. Interest received on impaired loans placed on nonaccrual status is generally applied to reduce the carrying value of the loan or, if principal is considered fully collectible, recognized as interest income. | |
Residual value estimates for commercial leases are generally determined through internal or external reviews of the leased property. The Company reviews commercial lease residual values at least annually and recognizes residual value impairments deemed to be other than temporary. | |
Loans and leases acquired in a business combination | |
Loans acquired in a business combination subsequent to December 31, 2008 are recorded at fair value with no carry-over of an acquired entity’s previously established allowance for credit losses. The excess of cash flows expected at acquisition over the estimated fair value of acquired loans is recognized as interest income over the remaining lives of the loans. Subsequent decreases in the expected principal cash flows require the Company to evaluate the need for additions to the Company’s allowance for credit losses. Subsequent improvements in expected cash flows result first in the recovery of any related allowance for credit losses and then in recognition of additional interest income over the then-remaining lives of the loans. | |
Purchased impaired loans represent specifically identified loans with evidence of credit deterioration for which it was probable at acquisition that the Company would be unable to collect all contractual principal and interest payments. | |
Allowance for credit losses | |
The allowance for credit losses represents, in management’s judgment, the amount of losses inherent in the loan and lease portfolio as of the balance sheet date. The allowance is determined by management’s evaluation of the loan and lease portfolio based on such factors as the differing economic risks associated with each loan category, the current financial condition of specific borrowers, the economic environment in which borrowers operate, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or indemnifications. The effects of probable decreases in expected principal cash flows on acquired loans are also considered in the establishment of the allowance for credit losses. | |
Assets taken in foreclosure of defaulted loans | |
Assets taken in foreclosure of defaulted loans are primarily comprised of commercial and residential real property and are included in “other assets” in the consolidated balance sheet. Upon acquisition of assets taken in satisfaction of a defaulted loan, the excess of the remaining loan balance over the asset’s estimated fair value less costs to sell is charged off against the allowance for credit losses. Subsequent declines in value of the assets are recognized as “other costs of operations” in the consolidated statement of income. | |
Premises and equipment | |
Premises and equipment are stated at cost less accumulated depreciation. Depreciation expense is computed principally using the straight-line method over the estimated useful lives of the assets. | |
Capitalized servicing rights | |
Capitalized servicing assets are included in “other assets” in the consolidated balance sheet. Separately recognized servicing assets are initially measured at fair value. The Company uses the amortization method to subsequently measure servicing assets. Under that method, capitalized servicing assets are charged to expense in proportion to and over the period of estimated net servicing income. | |
To estimate the fair value of servicing rights, the Company considers market prices for similar assets and the present value of expected future cash flows associated with the servicing rights calculated using assumptions that market participants would use in estimating future servicing income and expense. Such assumptions include estimates of the cost of servicing loans, loan default rates, an appropriate discount rate, and prepayment speeds. For purposes of evaluating and measuring impairment of capitalized servicing rights, the Company stratifies such assets based on the predominant risk characteristics of the underlying financial instruments that are expected to have the most impact on projected prepayments, cost of servicing and other factors affecting future cash flows associated with the servicing rights. Such factors may include financial asset or loan type, note rate and term. The amount of impairment recognized is the amount by which the carrying value of the capitalized servicing rights for a stratum exceeds estimated fair value. Impairment is recognized through a valuation allowance. | |
Sales and securitizations of financial assets | |
Transfers of financial assets for which the Company has surrendered control of the financial assets are accounted for as sales. Interests in a sale of financial assets that continue to be held by the Company, including servicing rights, are measured at fair value. The fair values of retained debt securities are generally determined through reference to independent pricing information. The fair values of retained servicing rights and any other retained interests are determined based on the present value of expected future cash flows associated with those interests and by reference to market prices for similar assets. | |
Securitization structures typically require the use of special-purpose trusts that are considered variable interest entities. A variable interest entity is included in the consolidated financial statements if the Company has the power to direct the activities that most significantly impact the variable interest entity’s economic performance and has the obligation to absorb losses or the right to receive benefits of the variable interest entity that could potentially be significant to that entity. | |
Goodwill and core deposit and other intangible assets | |
Goodwill represents the excess of the cost of an acquired entity over the fair value of the identifiable net assets acquired. Goodwill is not amortized, but rather is tested for impairment at least annually at the reporting unit level, which is either at the same level or one level below an operating segment. Other acquired intangible assets with finite lives, such as core deposit intangibles, are initially recorded at estimated fair value and are amortized over their estimated lives. Core deposit and other intangible assets are generally amortized using accelerated methods over estimated useful lives of five to ten years. The Company periodically assesses whether events or changes in circumstances indicate that the carrying amounts of core deposit and other intangible assets may be impaired. | |
Derivative financial instruments | |
The Company accounts for derivative financial instruments at fair value. If certain conditions are met, a derivative may be specifically designated as (a) a hedge of the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment, (b) a hedge of the exposure to variable cash flows of a forecasted transaction or (c) a hedge of the foreign currency exposure of a net investment in a foreign operation, an unrecognized firm commitment, an available-for-sale security, or a foreign currency denominated forecasted transaction. | |
The Company utilizes interest rate swap agreements as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of earning assets and interest-bearing liabilities. For such agreements, amounts receivable or payable are recognized as accrued under the terms of the agreement and the net differential is recorded as an adjustment to interest income or expense of the related asset or liability. Interest rate swap agreements may be designated as either fair value hedges or cash flow hedges. In a fair value hedge, the fair values of the interest rate swap agreements and changes in the fair values of the hedged items are recorded in the Company’s consolidated balance sheet with the corresponding gain or loss recognized in current earnings. The difference between changes in the fair values of interest rate swap agreements and the hedged items represents hedge ineffectiveness and is recorded in “other revenues from operations” in the consolidated statement of income. In a cash flow hedge, the effective portion of the derivative’s unrealized gain or loss is initially recorded as a component of other comprehensive income and subsequently reclassified into earnings when the forecasted transaction affects earnings. The ineffective portion of the unrealized gain or loss is reported in “other revenues from operations” immediately. | |
The Company utilizes commitments to sell real estate loans to hedge the exposure to changes in the fair value of real estate loans held for sale. Commitments to originate real estate loans to be held for sale and commitments to sell real estate loans are generally recorded in the consolidated balance sheet at estimated fair market value. | |
Derivative instruments not related to mortgage banking activities, including financial futures commitments and interest rate swap agreements, that do not satisfy the hedge accounting requirements are recorded at fair value and are generally classified as trading account assets or liabilities with resultant changes in fair value being recognized in “trading account and foreign exchange gains” in the consolidated statement of income. | |
Stock-based compensation | |
Stock-based compensation expense is recognized over the vesting period of the stock-based grant based on the estimated grant date value of the stock-based compensation that is expected to vest, except that the recognition of compensation costs is accelerated for stock-based awards granted to retirement-eligible employees and employees who will become retirement-eligible prior to full vesting of the award because the Company’s incentive compensation plan allows for vesting at the time an employee retires. | |
Income taxes | |
Deferred tax assets and liabilities are recognized for the future tax effects attributable to differences between the financial statement value of existing assets and liabilities and their respective tax bases and carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates and laws. | |
The Company evaluates uncertain tax positions using the two-step process required by GAAP. The first step requires a determination of whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Under the second step, a tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. | |
Earnings per common share | |
Basic earnings per common share exclude dilution and are computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding (exclusive of shares represented by the unvested portion of restricted stock and restricted stock unit grants) and common shares issuable under deferred compensation arrangements during the period. Diluted earnings per common share reflect shares represented by the unvested portion of restricted stock and restricted stock unit grants and the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in earnings. Proceeds assumed to have been received on such exercise or conversion are assumed to be used to purchase shares of M&T common stock at the average market price during the period, as required by the “treasury stock method” of accounting. | |
GAAP requires that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) shall be considered participating securities and shall be included in the computation of earnings per common share pursuant to the two-class method. The Company has issued stock-based compensation awards in the form of restricted stock and restricted stock units that contain such rights and, accordingly, the Company’s earnings per common share are calculated using the two-class method. | |
Treasury stock | |
Repurchases of shares of M&T common stock are recorded at cost as a reduction of shareholders’ equity. Reissuances of shares of treasury stock are recorded at average cost. |
Acquisitions
Acquisitions | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Acquisitions | ' | ||||||||||||
2. Acquisitions | |||||||||||||
On August 27, 2012, M&T announced that it had entered into a definitive agreement with Hudson City Bancorp, Inc. (“Hudson City”), headquartered in Paramus, New Jersey, under which Hudson City will be acquired by M&T. Pursuant to the terms of the agreement, Hudson City shareholders will receive consideration for each common share of Hudson City in an amount valued at .08403 of an M&T share in the form of either M&T common stock or cash, based on the election of each Hudson City shareholder, subject to proration as specified in the merger agreement (which provides for an aggregate split of total consideration of 60% common stock of M&T and 40% cash). As of December 31, 2013 total consideration to be paid was valued at approximately $5.0 billion. | |||||||||||||
At December 31, 2013, Hudson City had $38.6 billion of assets, including $24.2 billion of loans and $9.3 billion of investment securities, and $33.9 billion of liabilities, including $21.5 billion of deposits. The merger has received the approval of the common shareholders of M&T and Hudson City. However, the merger is subject to a number of other conditions, including regulatory approvals. | |||||||||||||
On June 17, 2013, M&T and Manufacturers and Traders Trust Company (“M&T Bank”), M&T’s principal banking subsidiary, entered into a written agreement with the Federal Reserve Bank of New York (“Federal Reserve Bank”). Under the terms of the agreement, M&T and M&T Bank are required to submit to the Federal Reserve Bank a revised compliance risk management program designed to ensure compliance with the Bank Secrecy Act and anti-money-laundering laws and regulations and to take certain other steps to enhance their compliance practices. The Company has commenced a major initiative, including the hiring of outside consulting firms, intended to fully address the Federal Reserve Bank’s concerns. In view of the timeframe required to implement this initiative, demonstrate its efficacy to the satisfaction of the Federal Reserve Bank and otherwise meet any other regulatory requirements that may be imposed in connection with these matters, M&T and Hudson City extended the date after which either party may elect to terminate the merger agreement if the merger has not yet been completed to December 31, 2014. Nevertheless, there can be no assurances that the merger will be completed by that date. | |||||||||||||
On May 16, 2011, M&T acquired all of the outstanding common stock of Wilmington Trust Corporation (“Wilmington Trust”), headquartered in Wilmington, Delaware, in a stock-for-stock transaction. Wilmington Trust operated 55 banking offices in Delaware and Pennsylvania at the date of acquisition. The results of operations acquired in the Wilmington Trust transaction have been included in the Company’s financial results since May 16, 2011. Wilmington Trust shareholders received .051372 shares of M&T common stock in exchange for each share of Wilmington Trust common stock, resulting in M&T issuing a total of 4,694,486 common shares with an acquisition date fair value of $406 million. | |||||||||||||
The Wilmington Trust transaction has been accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date. Assets acquired totaled approximately $10.8 billion, including $6.4 billion of loans and leases (including approximately $3.2 billion of commercial real estate loans, $1.4 billion of commercial loans and leases, $1.1 billion of consumer loans and $680 million of residential real estate loans). Liabilities assumed aggregated $10.0 billion, including $8.9 billion of deposits. The common stock issued in the transaction added $406 million to M&T’s common shareholders’ equity. Immediately prior to the closing of the Wilmington Trust transaction, M&T redeemed the $330 million of preferred stock issued by Wilmington Trust as part of the Troubled Asset Relief Program — Capital Purchase Program (“TARP”) of the U.S. Department of Treasury (“U.S. Treasury”). In connection with the acquisition, the Company recorded $112 million of core deposit and other intangible assets. The core deposit and other intangible assets are generally being amortized over periods of 5 to 7 years using accelerated methods. There was no goodwill recorded as a result of the transaction, however, a non-taxable gain of $65 million was realized, which represented the excess of the fair value of assets acquired less liabilities assumed over consideration exchanged. The acquisition of Wilmington Trust added to M&T’s market-leading position in the Mid-Atlantic region by giving M&T the leading deposit market share in Delaware. | |||||||||||||
The following table discloses the impact of Wilmington Trust (excluding the impact of the merger-related gain and expenses) since the acquisition on May 16, 2011 through the end of 2011. The table also presents certain pro forma information as if Wilmington Trust had been included in the Company’s consolidated financial results for all of 2011. These results combine the historical results of Wilmington Trust into the Company’s consolidated statement of income and, while certain adjustments were made for the estimated impact of certain fair valuation adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place earlier than indicated. In particular, no adjustments have been made to eliminate the amount of Wilmington Trust’s provision for credit losses of $42 million in 2011 or the impact of other-than-temporary impairment losses recognized by Wilmington Trust of $5 million in 2011 that may not have been necessary had the acquired loans and investment securities been recorded at fair value as of the beginning of 2011. Expenses related to systems conversions and other costs of integration of $84 million and the $65 million gain recorded in connection with the acquisition are included in the 2011 pro forma results. Additionally, the Company has achieved further operating cost savings and other business synergies as a result of the acquisition which are not reflected in the pro forma amounts that follow. | |||||||||||||
Actual Since | Pro Forma | ||||||||||||
Acquisition | Year Ended | ||||||||||||
Through | December 31, 2011 | ||||||||||||
December 31, 2011 | |||||||||||||
(In thousands) | |||||||||||||
Total revenues(a) | $ | 380,945 | $ | 4,202,109 | |||||||||
Net income | 18,586 | 808,696 | |||||||||||
(a) | Represents net interest income plus other income. | ||||||||||||
The Company incurred merger-related expenses in 2013 associated with the pending Hudson City acquisition and in 2012 and 2011 predominantly associated with the Wilmington Trust acquisition related to actual or planned systems conversions and other costs of integrating and conforming acquired operations with and into the Company. Those expenses consisted largely of professional services and other temporary help fees associated with the actual or planned conversion of systems and/or integration of operations; costs related to branch and office consolidations; costs related to termination of existing contractual arrangements for various services; initial marketing and promotion expenses designed to introduce M&T Bank to its new customers; severance (for former employees of acquired entities) and incentive compensation costs; travel costs; and printing, postage, supplies and other costs of planning for or completing the transactions and commencing operations in new markets and offices. | |||||||||||||
A summary of merger-related expenses included in the consolidated statement of income for the years ended December 31, 2013, 2012 and 2011 follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Salaries and employee benefits | $ | 836 | $ | 4,997 | $ | 16,131 | |||||||
Equipment and net occupancy | 690 | 15 | 412 | ||||||||||
Printing, postage and supplies | 1,825 | — | 2,663 | ||||||||||
Other costs of operations | 9,013 | 4,867 | 64,481 | ||||||||||
$ | 12,364 | $ | 9,879 | $ | 83,687 | ||||||||
Investment_securities
Investment securities | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||
Investment securities | ' | ||||||||||||||||||||||||||||
3. Investment securities | |||||||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities were as follows: | |||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
U.S. Treasury and federal agencies | $ | 37,396 | $ | 382 | $ | 2 | $ | 37,776 | |||||||||||||||||||||
Obligations of states and political subdivisions | 10,484 | 333 | 6 | 10,811 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 4,123,435 | 61,001 | 19,350 | 4,165,086 | |||||||||||||||||||||||||
Privately issued | 1,468 | 387 | 5 | 1,850 | |||||||||||||||||||||||||
Collateralized debt obligations | 42,274 | 21,666 | 857 | 63,083 | |||||||||||||||||||||||||
Other debt securities | 137,828 | 1,722 | 19,465 | 120,085 | |||||||||||||||||||||||||
Equity securities | 91,480 | 41,842 | 227 | 133,095 | |||||||||||||||||||||||||
4,444,365 | 127,333 | 39,912 | 4,531,786 | ||||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 169,684 | 3,744 | 135 | 173,293 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 3,567,905 | 16,160 | 65,149 | 3,518,916 | |||||||||||||||||||||||||
Privately issued | 219,628 | — | 60,623 | 159,005 | |||||||||||||||||||||||||
Other debt securities | 8,913 | — | — | 8,913 | |||||||||||||||||||||||||
3,966,130 | 19,904 | 125,907 | 3,860,127 | ||||||||||||||||||||||||||
Other securities | 298,581 | — | — | 298,581 | |||||||||||||||||||||||||
Total | $ | 8,709,076 | $ | 147,237 | $ | 165,819 | $ | 8,690,494 | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
U.S. Treasury and federal agencies | $ | 38,422 | $ | 922 | $ | — | $ | 39,344 | |||||||||||||||||||||
Obligations of states and political subdivisions | 20,375 | 534 | 8 | 20,901 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 3,163,210 | 208,060 | 229 | 3,371,041 | |||||||||||||||||||||||||
Privately issued | 1,142,287 | 7,272 | 125,673 | 1,023,886 | |||||||||||||||||||||||||
Collateralized debt obligations | 43,228 | 19,663 | 1,022 | 61,869 | |||||||||||||||||||||||||
Other debt securities | 136,603 | 2,247 | 26,900 | 111,950 | |||||||||||||||||||||||||
Equity securities | 98,945 | 14,921 | 3,420 | 110,446 | |||||||||||||||||||||||||
4,643,070 | 253,619 | 157,252 | 4,739,437 | ||||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 182,103 | 7,647 | 27 | 189,723 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 597,340 | 31,727 | — | 629,067 | |||||||||||||||||||||||||
Privately issued | 242,378 | 160 | 94,900 | 147,638 | |||||||||||||||||||||||||
Other debt securities | 10,455 | — | — | 10,455 | |||||||||||||||||||||||||
1,032,276 | 39,534 | 94,927 | 976,883 | ||||||||||||||||||||||||||
Other securities | 302,648 | — | — | 302,648 | |||||||||||||||||||||||||
Total | $ | 5,977,994 | $ | 293,153 | $ | 252,179 | $ | 6,018,968 | |||||||||||||||||||||
No investment in securities of a single non-U.S. Government or government agency issuer exceeded ten percent of shareholders’ equity at December 31, 2013. | |||||||||||||||||||||||||||||
As of December 31, 2013, the latest available investment ratings of all obligations of states and political subdivisions, privately issued mortgage-backed securities, collateralized debt obligations and other debt securities were: | |||||||||||||||||||||||||||||
Amortized | Estimated | Average Credit Rating of Fair Value Amount | |||||||||||||||||||||||||||
Cost | Fair Value | A or Better | BBB | BB | B or Less | Not Rated | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 180,168 | $ | 184,104 | $ | 152,704 | $ | 6,359 | $ | 200 | $ | — | $ | 24,841 | |||||||||||||||
Privately issued mortgage-backed securities | 221,096 | 160,855 | 56,731 | — | — | 104,000 | 124 | ||||||||||||||||||||||
Collateralized debt obligations | 42,274 | 63,083 | 11,005 | 3,684 | 8,904 | 39,490 | — | ||||||||||||||||||||||
Other debt securities | 146,741 | 128,998 | 12,073 | 56,481 | 28,966 | 21,300 | 10,178 | ||||||||||||||||||||||
Total | $ | 590,279 | $ | 537,040 | $ | 232,513 | $ | 66,524 | $ | 38,070 | $ | 164,790 | $ | 35,143 | |||||||||||||||
The amortized cost and estimated fair value of collateralized mortgage obligations included in mortgage-backed securities were as follows: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||||||||||||||
Amortized cost | $ | 231,040 | $ | 1,414,691 | |||||||||||||||||||||||||
Estimated fair value | 171,100 | 1,202,243 | |||||||||||||||||||||||||||
Gross realized gains from sales of investment securities were $116,490,000 in 2013. During 2013, the Company sold its holdings of Visa Class B shares for a gain of $89,545,000 and its holdings of MasterCard Class B shares for a gain of $13,208,000. Gross realized losses on investment securities were $60,033,000 in 2013. The Company sold substantially all of its privately issued mortgage-backed securities held in the available-for-sale investment securities portfolio during 2013. In total, $1.0 billion of such securities were sold for a net loss of approximately $46,302,000. In 2011, gross realized gains from sales of investment securities were $150,223,000 and gross realized losses were $36,000. During 2011, the Company sold residential mortgage-backed securities guaranteed by the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) having an aggregate amortized cost of approximately $1.5 billion which resulted in a gain of $104 million. The Company also sold trust preferred securities and collateralized debt securities during 2011 having an aggregate amortized cost of $136 million and $100 million, respectively, which resulted in gains of $25 million and $20 million, respectively. Gross realized gains and losses from sales of investment securities were not significant in 2012. | |||||||||||||||||||||||||||||
The Company recognized $10 million, $48 million and $77 million of pre-tax other-than-temporary impairment losses related to privately issued mortgage-backed securities in 2013, 2012 and 2011, respectively. The impairment charges were recognized in light of deterioration of real estate values and a rise in delinquencies and charge-offs of underlying mortgage loans collateralizing those securities. The other-than-temporary impairment losses represented management’s estimate of credit losses inherent in the debt securities considering projected cash flows using assumptions of delinquency rates, loss severities, and other estimates of future collateral performance. | |||||||||||||||||||||||||||||
Changes in credit losses during 2013, 2012 and 2011 associated with debt securities for which other-than-temporary impairment losses have been recognized in earnings follows: | |||||||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Estimated credit losses — beginning balance | $ | 197,809 | $ | 285,399 | $ | 327,912 | |||||||||||||||||||||||
Additions for credit losses not previously recognized | 9,800 | 47,822 | 77,035 | ||||||||||||||||||||||||||
Reductions for increases in cash flows | — | — | (5,111 | ) | |||||||||||||||||||||||||
Reductions for realized losses | (207,441 | ) | (135,412 | ) | (114,437 | ) | |||||||||||||||||||||||
Estimated credit losses — ending balance | $ | 168 | $ | 197,809 | $ | 285,399 | |||||||||||||||||||||||
At December 31, 2013, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows: | |||||||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Debt securities available for sale: | |||||||||||||||||||||||||||||
Due in one year or less | $ | 29,839 | $ | 30,036 | |||||||||||||||||||||||||
Due after one year through five years | 16,005 | 16,617 | |||||||||||||||||||||||||||
Due after five years through ten years | 7,718 | 8,015 | |||||||||||||||||||||||||||
Due after ten years | 174,420 | 177,087 | |||||||||||||||||||||||||||
227,982 | 231,755 | ||||||||||||||||||||||||||||
Mortgage-backed securities available for sale | 4,124,903 | 4,166,936 | |||||||||||||||||||||||||||
$ | 4,352,885 | $ | 4,398,691 | ||||||||||||||||||||||||||
Debt securities held to maturity: | |||||||||||||||||||||||||||||
Due in one year or less | $ | 19,485 | $ | 19,606 | |||||||||||||||||||||||||
Due after one year through five years | 68,713 | 70,618 | |||||||||||||||||||||||||||
Due after five years through ten years | 81,486 | 83,069 | |||||||||||||||||||||||||||
Due after ten years | 8,913 | 8,913 | |||||||||||||||||||||||||||
178,597 | 182,206 | ||||||||||||||||||||||||||||
Mortgage-backed securities held to maturity | 3,787,533 | 3,677,921 | |||||||||||||||||||||||||||
$ | 3,966,130 | $ | 3,860,127 | ||||||||||||||||||||||||||
A summary of investment securities that as of December 31, 2013 and 2012 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows: | |||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | ||||||||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||||||||
Losses | Losses | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
U.S. Treasury and federal agencies | $ | 745 | $ | (2 | ) | $ | — | $ | — | ||||||||||||||||||||
Obligations of states and political subdivisions | — | — | 558 | (6 | ) | ||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 1,697,094 | (19,225 | ) | 5,815 | (125 | ) | |||||||||||||||||||||||
Privately issued | — | — | 98 | (5 | ) | ||||||||||||||||||||||||
Collateralized debt obligations | — | — | 6,257 | (857 | ) | ||||||||||||||||||||||||
Other debt securities | 1,428 | (4 | ) | 103,602 | (19,461 | ) | |||||||||||||||||||||||
Equity securities | 159 | (227 | ) | — | — | ||||||||||||||||||||||||
1,699,426 | (19,458 | ) | 116,330 | (20,454 | ) | ||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 13,517 | (120 | ) | 1,558 | (15 | ) | |||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 2,629,950 | (65,149 | ) | — | — | ||||||||||||||||||||||||
Privately issued | — | — | 159,005 | (60,623 | ) | ||||||||||||||||||||||||
2,643,467 | (65,269 | ) | 160,563 | (60,638 | ) | ||||||||||||||||||||||||
Total | $ | 4,342,893 | $ | (84,727 | ) | $ | 276,893 | $ | (81,092 | ) | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 166 | $ | (1 | ) | $ | 683 | $ | (7 | ) | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 12,107 | (65 | ) | 8,804 | (164 | ) | |||||||||||||||||||||||
Privately issued | 121,487 | (692 | ) | 774,328 | (124,981 | ) | |||||||||||||||||||||||
Collateralized debt obligations | — | — | 6,043 | (1,022 | ) | ||||||||||||||||||||||||
Other debt securities | — | — | 95,685 | (26,900 | ) | ||||||||||||||||||||||||
Equity securities | 5,535 | (1,295 | ) | 2,956 | (2,125 | ) | |||||||||||||||||||||||
139,295 | (2,053 | ) | 888,499 | (155,199 | ) | ||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 1,026 | (5 | ) | 3,558 | (22 | ) | |||||||||||||||||||||||
Privately issued mortgage-backed securities | — | — | 147,273 | (94,900 | ) | ||||||||||||||||||||||||
1,026 | (5 | ) | 150,831 | (94,922 | ) | ||||||||||||||||||||||||
Total | $ | 140,321 | $ | (2,058 | ) | $ | 1,039,330 | $ | (250,121 | ) | |||||||||||||||||||
The Company owned 468 individual investment securities with aggregate gross unrealized losses of $166 million at December 31, 2013. Approximately $61 million of the unrealized losses pertain to privately issued mortgage-backed securities with a cost basis of $220 million. The Company also had $19 million of unrealized losses on available-for-sale trust preferred securities issued by financial institutions having a cost basis of $123 million. Based on a review of each of the securities in the investment securities portfolio at December 31, 2013, the Company concluded that it expected to recover the amortized cost basis of its investment. As of December 31, 2013, the Company does not intend to sell nor is it anticipated that it would be required to sell any of its impaired investment securities at a loss. At December 31, 2013, the Company has not identified events or changes in circumstances which may have a significant adverse effect on the fair value of the $299 million of cost method investment securities. | |||||||||||||||||||||||||||||
At December 31, 2013, investment securities with a carrying value of $3,902,317,000, including $2,459,296,000 of investment securities available for sale, were pledged to secure borrowings from various FHLBs, repurchase agreements, governmental deposits, interest rate swap agreements and available lines of credit as described in note 9. | |||||||||||||||||||||||||||||
Investment securities pledged by the Company to secure obligations whereby the secured party is permitted by contract or custom to sell or repledge such collateral totaled $1,696,438,000 at December 31, 2013. The pledged securities included securities of the U.S. Treasury and federal agencies and mortgage-backed securities. |
Loans_and_leases
Loans and leases | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans and leases | ' | ||||||||||||||||||||||||||||
4. Loans and leases | |||||||||||||||||||||||||||||
Total loans and leases outstanding were comprised of the following: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||
Commercial, financial, etc. | $ | 17,477,238 | $ | 16,500,202 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Residential | 8,911,554 | 11,161,323 | |||||||||||||||||||||||||||
Commercial | 21,799,886 | 22,333,036 | |||||||||||||||||||||||||||
Construction | 4,457,650 | 3,772,413 | |||||||||||||||||||||||||||
Consumer | 10,280,527 | 11,550,274 | |||||||||||||||||||||||||||
Total loans | 62,926,855 | 65,317,248 | |||||||||||||||||||||||||||
Leases | |||||||||||||||||||||||||||||
Commercial | 1,398,928 | 1,472,938 | |||||||||||||||||||||||||||
Total loans and leases | 64,325,783 | 66,790,186 | |||||||||||||||||||||||||||
Less: unearned discount | (252,624 | ) | (219,229 | ) | |||||||||||||||||||||||||
Total loans and leases, net of unearned discount | $ | 64,073,159 | $ | 66,570,957 | |||||||||||||||||||||||||
One-to-four family residential mortgage loans held for sale were $401 million at December 31, 2013 and $1.2 billion at December 31, 2012. Commercial real estate loans held for sale were $68 million at December 31, 2013 and $200 million at December 31, 2012. | |||||||||||||||||||||||||||||
During the second and third quarters of 2013, the Company securitized approximately $1.3 billion of one-to-four family residential real estate loans previously held in the Company’s loan portfolio into guaranteed mortgage-backed securities with the Government National Mortgage Association (“Ginnie Mae”) and recognized gains of $42,382,000. In addition, the Company securitized and sold in September 2013 approximately $1.4 billion of automobile loans held in its loan portfolio, resulting in a gain of $20,683,000. | |||||||||||||||||||||||||||||
As of December 31, 2013, approximately $2.3 billion of commercial real estate loan balances serviced for others had been sold with recourse in conjunction with the Company’s participation in the Fannie Mae Delegated Underwriting and Servicing (“DUS”) program. At December 31, 2013, the Company estimated that the recourse obligations described above were not material to the Company’s consolidated financial position. There have been no material losses incurred as a result of those credit recourse arrangements. | |||||||||||||||||||||||||||||
In addition to recourse obligations, as described in note 21, the Company is contractually obligated to repurchase previously sold residential real estate loans that do not ultimately meet investor sale criteria related to underwriting procedures or loan documentation. When required to do so, the Company may reimburse loan purchasers for losses incurred or may repurchase certain loans. Charges incurred for such obligation, which are recorded as a reduction of mortgage banking revenues, were $17 million, $28 million and $23 million in 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||
The outstanding principal balance and the carrying amount of acquired loans that were recorded at fair value at the acquisition date that is included in the consolidated balance sheet were as follows: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Outstanding principal balance | $ | 4,656,811 | $ | 6,705,120 | |||||||||||||||||||||||||
Carrying amount: | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | 580,685 | 928,107 | |||||||||||||||||||||||||||
Commercial real estate | 1,541,368 | 2,567,050 | |||||||||||||||||||||||||||
Residential real estate | 576,473 | 707,309 | |||||||||||||||||||||||||||
Consumer | 1,308,926 | 1,637,887 | |||||||||||||||||||||||||||
$ | 4,007,452 | $ | 5,840,353 | ||||||||||||||||||||||||||
Purchased impaired loans included in the table above totaled $331 million at December 31, 2013 and $447 million at December 31, 2012, representing less than 1% of the Company’s assets as of each date. A summary of changes in the accretable yield for acquired loans for the years ended December 31, 2013, 2012 and 2011 follows: | |||||||||||||||||||||||||||||
For Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
Purchased | Other | Purchased | Other | Purchased | Other | ||||||||||||||||||||||||
Impaired | Acquired | Impaired | Acquired | Impaired | Acquired | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 42,252 | $ | 638,272 | $ | 30,805 | $ | 807,960 | $ | 9,245 | $ | 447,505 | |||||||||||||||||
Additions | — | — | — | — | 39,358 | 648,631 | |||||||||||||||||||||||
Interest income | (36,727 | ) | (247,295 | ) | (40,551 | ) | (295,654 | ) | (26,221 | ) | (268,315 | ) | |||||||||||||||||
Reclassifications from nonaccretable balance, net | 31,705 | 149,595 | 51,998 | 148,490 | 8,629 | 1,800 | |||||||||||||||||||||||
Other(a) | — | (1,939 | ) | — | (22,524 | ) | (206 | ) | (21,661 | ) | |||||||||||||||||||
Balance at end of period | $ | 37,230 | $ | 538,633 | $ | 42,252 | $ | 638,272 | $ | 30,805 | $ | 807,960 | |||||||||||||||||
(a) | Other changes in expected cash flows including changes in interest rates and prepayment assumptions. | ||||||||||||||||||||||||||||
A summary of current, past due and nonaccrual loans as of December 31, 2013 and 2012 follows: | |||||||||||||||||||||||||||||
90 Days or More Past | |||||||||||||||||||||||||||||
Due and Accruing | |||||||||||||||||||||||||||||
Current | 30-89 Days | Non- | Acquired(a) | Purchased | Nonaccrual | Total | |||||||||||||||||||||||
Past Due | acquired | Impaired(b) | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 18,489,474 | $ | 77,538 | $ | 4,981 | $ | 6,778 | $ | 15,706 | $ | 110,739 | $ | 18,705,216 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 21,236,071 | 145,749 | 63,353 | 35,603 | 88,034 | 173,048 | 21,741,858 | ||||||||||||||||||||||
Residential builder and developer | 1,025,984 | 8,486 | 141 | 7,930 | 137,544 | 96,427 | 1,276,512 | ||||||||||||||||||||||
Other commercial construction | 2,986,598 | 42,234 | — | 8,031 | 57,707 | 35,268 | 3,129,838 | ||||||||||||||||||||||
Residential | 7,630,368 | 295,131 | 294,649 | 43,700 | 29,184 | 252,805 | 8,545,837 | ||||||||||||||||||||||
Residential Alt-A | 283,253 | 18,009 | — | — | — | 81,122 | 382,384 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | 5,972,365 | 40,537 | — | 27,754 | 2,617 | 78,516 | 6,121,789 | ||||||||||||||||||||||
Automobile | 1,314,246 | 29,144 | — | 366 | — | 21,144 | 1,364,900 | ||||||||||||||||||||||
Other | 2,726,522 | 47,830 | 5,386 | — | — | 25,087 | 2,804,825 | ||||||||||||||||||||||
Total | $ | 61,664,881 | $ | 704,658 | $ | 368,510 | $ | 130,162 | $ | 330,792 | $ | 874,156 | $ | 64,073,159 | |||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 17,511,052 | $ | 62,479 | $ | 23,490 | $ | 10,587 | $ | 17,437 | $ | 151,908 | $ | 17,776,953 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 21,759,997 | 118,249 | 13,111 | 54,995 | 132,962 | 193,859 | 22,273,173 | ||||||||||||||||||||||
Residential builder and developer | 757,311 | 35,419 | 3,258 | 23,909 | 187,764 | 181,865 | 1,189,526 | ||||||||||||||||||||||
Other commercial construction | 2,379,953 | 35,274 | 509 | 9,572 | 68,971 | 36,812 | 2,531,091 | ||||||||||||||||||||||
Residential | 9,811,956 | 337,969 | 313,184 | 45,124 | 36,769 | 249,314 | 10,794,316 | ||||||||||||||||||||||
Residential Alt-A | 331,021 | 19,692 | — | — | — | 95,808 | 446,521 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | 6,199,591 | 40,759 | — | 20,318 | 3,211 | 58,071 | 6,321,950 | ||||||||||||||||||||||
Automobile | 2,442,502 | 40,461 | — | 251 | — | 25,107 | 2,508,321 | ||||||||||||||||||||||
Other | 2,661,432 | 40,599 | 4,845 | 1,798 | — | 20,432 | 2,729,106 | ||||||||||||||||||||||
Total | $ | 63,854,815 | $ | 730,901 | $ | 358,397 | $ | 166,554 | $ | 447,114 | $ | 1,013,176 | $ | 66,570,957 | |||||||||||||||
(a) | Acquired loans that were recorded at fair value at acquisition date. This category does not include purchased impaired loans that are presented separately. | ||||||||||||||||||||||||||||
(b) | Accruing loans that were impaired at acquisition date and were recorded at fair value. | ||||||||||||||||||||||||||||
If nonaccrual and renegotiated loans had been accruing interest at their originally contracted terms, interest income on such loans would have amounted to $62,010,000 in 2013, $69,054,000 in 2012 and $80,278,000 in 2011. The actual amounts included in interest income during 2013, 2012 and 2011 on such loans were $31,987,000, $30,484,000 and $31,301,000, respectively. | |||||||||||||||||||||||||||||
During the normal course of business, the Company modifies loans to maximize recovery efforts. If the borrower is experiencing financial difficulty and a concession is granted, the Company considers such modifications as troubled debt restructurings and classifies those loans as either nonaccrual loans or renegotiated loans. The types of concessions that the Company grants typically include principal deferrals and interest rate concessions, but may also include other types of concessions. | |||||||||||||||||||||||||||||
The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2013: | |||||||||||||||||||||||||||||
Recorded Investment | Financial Effects of | ||||||||||||||||||||||||||||
Modification | |||||||||||||||||||||||||||||
Number | Pre- | Post- | Recorded | Interest | |||||||||||||||||||||||||
modifica- | modifica- | Investment | (b) | ||||||||||||||||||||||||||
tion | tion | (a) | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | |||||||||||||||||||||||||||||
Principal deferral | 79 | $ | 16,389 | $ | 16,002 | $ | (387 | ) | $ | — | |||||||||||||||||||
Interest rate reduction | 1 | 104 | 335 | 231 | (54 | ) | |||||||||||||||||||||||
Other | 4 | 50,433 | 50,924 | 491 | — | ||||||||||||||||||||||||
Combination of concession types | 11 | 6,229 | 5,578 | (651 | ) | (458 | ) | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Principal deferral | 27 | 40,639 | 40,464 | (175 | ) | — | |||||||||||||||||||||||
Other | 2 | 449 | 475 | 26 | — | ||||||||||||||||||||||||
Combination of concession types | 9 | 2,649 | 3,040 | 391 | (250 | ) | |||||||||||||||||||||||
Residential builder and developer | |||||||||||||||||||||||||||||
Principal deferral | 18 | 21,423 | 20,577 | (846 | ) | — | |||||||||||||||||||||||
Other | 1 | 4,039 | 3,888 | (151 | ) | — | |||||||||||||||||||||||
Combination of concession types | 3 | 15,580 | 15,514 | (66 | ) | (535 | ) | ||||||||||||||||||||||
Other commercial construction | |||||||||||||||||||||||||||||
Principal deferral | 3 | 590 | 521 | (69 | ) | — | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Principal deferral | 32 | 3,556 | 3,821 | 265 | — | ||||||||||||||||||||||||
Other | 1 | 195 | 195 | — | — | ||||||||||||||||||||||||
Combination of concession types | 61 | 73,940 | 70,854 | (3,086 | ) | (924 | ) | ||||||||||||||||||||||
Residential Alt-A | |||||||||||||||||||||||||||||
Principal deferral | 10 | 1,900 | 1,880 | (20 | ) | — | |||||||||||||||||||||||
Combination of concession types | 19 | 2,826 | 3,148 | 322 | (790 | ) | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | |||||||||||||||||||||||||||||
Principal deferral | 10 | 859 | 861 | 2 | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 99 | 99 | — | (8 | ) | |||||||||||||||||||||||
Other | 1 | 106 | 106 | — | — | ||||||||||||||||||||||||
Combination of concession types | 28 | 2,190 | 2,190 | — | (270 | ) | |||||||||||||||||||||||
Automobile | |||||||||||||||||||||||||||||
Principal deferral | 460 | 6,148 | 6,148 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 15 | 235 | 235 | — | (22 | ) | |||||||||||||||||||||||
Other | 78 | 339 | 339 | — | — | ||||||||||||||||||||||||
Combination of concession types | 225 | 2,552 | 2,552 | — | (191 | ) | |||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
Principal deferral | 36 | 332 | 332 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 12 | 12 | — | (2 | ) | |||||||||||||||||||||||
Other | 2 | 14 | 14 | — | — | ||||||||||||||||||||||||
Combination of concession types | 120 | 4,248 | 4,248 | — | (1,187 | ) | |||||||||||||||||||||||
Total | 1,258 | $ | 258,075 | $ | 254,352 | $ | (3,723 | ) | $ | (4,691 | ) | ||||||||||||||||||
(a) | Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. | ||||||||||||||||||||||||||||
(b) | Represents the present value of interest rate concessions discounted at the effective rate of the original loan. | ||||||||||||||||||||||||||||
The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2012: | |||||||||||||||||||||||||||||
Recorded Investment | Financial Effects of | ||||||||||||||||||||||||||||
Modification | |||||||||||||||||||||||||||||
Number | Pre- | Post- | Recorded | Interest | |||||||||||||||||||||||||
modifica- | modifica- | Investment | (b) | ||||||||||||||||||||||||||
tion | tion | (a) | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | |||||||||||||||||||||||||||||
Principal deferral | 61 | $ | 23,888 | $ | 22,456 | $ | (1,432 | ) | $ | — | |||||||||||||||||||
Other | 3 | 2,967 | 3,052 | 85 | — | ||||||||||||||||||||||||
Combination of concession types | 5 | 628 | 740 | 112 | (102 | ) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Principal deferral | 24 | 22,855 | 23,059 | 204 | — | ||||||||||||||||||||||||
Interest rate reduction | 2 | 665 | 708 | 43 | (129 | ) | |||||||||||||||||||||||
Combination of concession types | 7 | 1,637 | 1,656 | 19 | (351 | ) | |||||||||||||||||||||||
Residential builder and developer | |||||||||||||||||||||||||||||
Principal deferral | 23 | 36,868 | 34,740 | (2,128 | ) | — | |||||||||||||||||||||||
Combination of concession types | 7 | 37,602 | 36,148 | (1,454 | ) | — | |||||||||||||||||||||||
Other commercial construction | |||||||||||||||||||||||||||||
Principal deferral | 6 | 81,062 | 79,312 | (1,750 | ) | — | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Principal deferral | 36 | 4,643 | 4,808 | 165 | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 109 | 109 | — | (20 | ) | |||||||||||||||||||||||
Combination of concession types | 62 | 12,886 | 13,146 | 260 | (657 | ) | |||||||||||||||||||||||
Residential Alt-A | |||||||||||||||||||||||||||||
Principal deferral | 7 | 968 | 989 | 21 | — | ||||||||||||||||||||||||
Combination of concession types | 38 | 8,525 | 8,717 | 192 | (159 | ) | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | |||||||||||||||||||||||||||||
Principal deferral | 15 | 1,285 | 1,285 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 144 | 144 | — | (6 | ) | |||||||||||||||||||||||
Combination of concession types | 29 | 2,332 | 2,332 | — | (368 | ) | |||||||||||||||||||||||
Automobile | |||||||||||||||||||||||||||||
Principal deferral | 618 | 8,347 | 8,347 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 22 | 328 | 328 | — | (24 | ) | |||||||||||||||||||||||
Other | 67 | 300 | 300 | — | — | ||||||||||||||||||||||||
Combination of concession types | 375 | 5,857 | 5,857 | — | (684 | ) | |||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
Principal deferral | 80 | 1,201 | 1,201 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 22 | 515 | 515 | — | (85 | ) | |||||||||||||||||||||||
Other | 13 | 54 | 54 | — | — | ||||||||||||||||||||||||
Combination of concession types | 84 | 1,015 | 1,015 | — | (268 | ) | |||||||||||||||||||||||
Total | 1,608 | $ | 256,681 | $ | 251,018 | $ | (5,663 | ) | $ | (2,853 | ) | ||||||||||||||||||
(a) | Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. | ||||||||||||||||||||||||||||
(b) | Represents the present value of interest rate concessions discounted at the effective rate of the original loan. | ||||||||||||||||||||||||||||
The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2011: | |||||||||||||||||||||||||||||
Recorded Investment | Financial Effects of | ||||||||||||||||||||||||||||
Modification | |||||||||||||||||||||||||||||
Number | Pre- | Post- | Recorded | Interest | |||||||||||||||||||||||||
modifica- | modifica- | Investment | (b) | ||||||||||||||||||||||||||
tion | tion | (a) | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | |||||||||||||||||||||||||||||
Principal deferral | 53 | $ | 10,703 | $ | 10,778 | $ | 75 | $ | — | ||||||||||||||||||||
Combination of concession types | 3 | 2,049 | 2,046 | (3 | ) | (654 | ) | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Principal deferral | 29 | 16,804 | 16,704 | (100 | ) | — | |||||||||||||||||||||||
Combination of concession types | 3 | 15,778 | 15,777 | (1 | ) | (1,463 | ) | ||||||||||||||||||||||
Residential builder and developer | |||||||||||||||||||||||||||||
Principal deferral | 9 | 33,208 | 26,811 | (6,397 | ) | — | |||||||||||||||||||||||
Other | 6 | 118,114 | 110,156 | (7,958 | ) | — | |||||||||||||||||||||||
Combination of concession types | 5 | 2,540 | 2,561 | 21 | — | ||||||||||||||||||||||||
Other commercial construction | |||||||||||||||||||||||||||||
Principal deferral | 3 | 8,436 | 8,553 | 117 | — | ||||||||||||||||||||||||
Combination of concession types | 3 | 65,813 | 60,973 | (4,840 | ) | — | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Principal deferral | 37 | 8,175 | 8,235 | 60 | — | ||||||||||||||||||||||||
Interest rate reduction | 14 | 1,926 | 1,991 | 65 | (318 | ) | |||||||||||||||||||||||
Combination of concession types | 111 | 19,508 | 19,934 | 426 | (1,559 | ) | |||||||||||||||||||||||
Residential Alt-A | |||||||||||||||||||||||||||||
Principal deferral | 3 | 800 | 835 | 35 | — | ||||||||||||||||||||||||
Combination of concession types | 34 | 6,813 | 6,978 | 165 | (889 | ) | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | |||||||||||||||||||||||||||||
Principal deferral | 3 | 259 | 259 | — | — | ||||||||||||||||||||||||
Other | 3 | 86 | 86 | — | — | ||||||||||||||||||||||||
Combination of concession types | 26 | 2,156 | 2,158 | 2 | (444 | ) | |||||||||||||||||||||||
Automobile | |||||||||||||||||||||||||||||
Principal deferral | 746 | 10,053 | 10,053 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 17 | 183 | 183 | — | (13 | ) | |||||||||||||||||||||||
Other | 111 | 739 | 739 | — | — | ||||||||||||||||||||||||
Combination of concession types | 431 | 6,703 | 6,703 | — | (808 | ) | |||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
Principal deferral | 23 | 400 | 400 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 8 | 8 | — | (1 | ) | |||||||||||||||||||||||
Other | 4 | 103 | 103 | — | — | ||||||||||||||||||||||||
Combination of concession types | 102 | 803 | 803 | — | (189 | ) | |||||||||||||||||||||||
Total | 1,780 | $ | 332,160 | $ | 313,827 | $ | (18,333 | ) | $ | (6,338 | ) | ||||||||||||||||||
(a) | Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. | ||||||||||||||||||||||||||||
(b) | Represents the present value of interest rate concessions discounted at the effective rate of the original loan. | ||||||||||||||||||||||||||||
Troubled debt restructurings are considered to be impaired loans and for purposes of establishing the allowance for credit losses are evaluated for impairment giving consideration to the impact of the modified loan terms on the present value of the loan’s expected cash flows. Impairment of troubled debt restructurings that have subsequently defaulted may also be measured based on the loan’s observable market price or the fair value of collateral if the loan is collateral-dependent. Charge-offs may also be recognized on troubled debt restructurings that have subsequently defaulted. Loans that were modified as troubled debt restructurings during the twelve months ended December 31, 2013, 2012 and 2011 and for which there was a subsequent payment default during the respective period were not material. | |||||||||||||||||||||||||||||
Borrowings by directors and certain officers of M&T and its banking subsidiaries, and by associates of such persons, exclusive of loans aggregating less than $120,000, amounted to $135,512,000 and $99,532,000 at December 31, 2013 and 2012, respectively. During 2013, new borrowings by such persons amounted to $44,799,000 (including any borrowings of new directors or officers that were outstanding at the time of their election) and repayments and other reductions (including reductions resulting from retirements) were $8,819,000. | |||||||||||||||||||||||||||||
At December 31, 2013, approximately $8.9 billion of commercial loans and leases, $9.6 billion of commercial real estate loans, $5.3 billion of one-to-four family residential real estate loans, $4.1 billion of home equity loans and lines of credit and $2.1 billion of other consumer loans were pledged to secure outstanding borrowings from the FHLB of New York and available lines of credit as described in note 9. | |||||||||||||||||||||||||||||
The Company’s loan and lease portfolio includes commercial lease financing receivables consisting of direct financing and leveraged leases for machinery and equipment, railroad equipment, commercial trucks and trailers, and aircraft. A summary of lease financing receivables follows: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commercial leases: | |||||||||||||||||||||||||||||
Direct financings: | |||||||||||||||||||||||||||||
Lease payments receivable | $ | 1,052,214 | $ | 1,106,434 | |||||||||||||||||||||||||
Estimated residual value of leased assets | 85,595 | 96,468 | |||||||||||||||||||||||||||
Unearned income | (114,101 | ) | (134,428 | ) | |||||||||||||||||||||||||
Investment in direct financings | 1,023,708 | 1,068,474 | |||||||||||||||||||||||||||
Leveraged leases: | |||||||||||||||||||||||||||||
Lease payments receivable | 127,821 | 132,466 | |||||||||||||||||||||||||||
Estimated residual value of leased assets | 133,298 | 137,570 | |||||||||||||||||||||||||||
Unearned income | (47,188 | ) | (50,378 | ) | |||||||||||||||||||||||||
Investment in leveraged leases | 213,931 | 219,658 | |||||||||||||||||||||||||||
Total investment in leases. | $ | 1,237,639 | $ | 1,288,132 | |||||||||||||||||||||||||
Deferred taxes payable arising from leveraged leases | $ | 172,296 | $ | 172,026 | |||||||||||||||||||||||||
Included within the estimated residual value of leased assets at December 31, 2013 and 2012 were $54 million and $61 million, respectively, in residual value associated with direct financing leases that are guaranteed by the lessees or others. | |||||||||||||||||||||||||||||
At December 31, 2013, the minimum future lease payments to be received from lease financings were as follows: | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||||
2014 | $ | 268,434 | |||||||||||||||||||||||||||
2015 | 247,620 | ||||||||||||||||||||||||||||
2016 | 193,920 | ||||||||||||||||||||||||||||
2017 | 122,781 | ||||||||||||||||||||||||||||
2018 | 85,341 | ||||||||||||||||||||||||||||
Later years | 261,939 | ||||||||||||||||||||||||||||
$ | 1,180,035 | ||||||||||||||||||||||||||||
Allowance_for_credit_losses
Allowance for credit losses | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Allowance for credit losses | ' | ||||||||||||||||||||||||
5. Allowance for credit losses | |||||||||||||||||||||||||
Changes in the allowance for credit losses for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||
Commercial, | Real Estate | ||||||||||||||||||||||||
Financial, | |||||||||||||||||||||||||
2013 | Leasing, etc. | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 246,759 | $ | 337,101 | $ | 88,807 | $ | 179,418 | $ | 73,775 | $ | 925,860 | |||||||||||||
Provision for credit losses | 124,180 | 275 | 3,149 | 56,156 | 1,240 | 185,000 | |||||||||||||||||||
Allowance related to loans sold or securitized | — | — | — | (11,000 | ) | — | (11,000 | ) | |||||||||||||||||
Net charge-offs | |||||||||||||||||||||||||
Charge-offs | (109,329 | ) | (34,595 | ) | (23,621 | ) | (85,965 | ) | — | (253,510 | ) | ||||||||||||||
Recoveries | 11,773 | 22,197 | 10,321 | 26,035 | — | 70,326 | |||||||||||||||||||
Net charge-offs | (97,556 | ) | (12,398 | ) | (13,300 | ) | (59,930 | ) | — | (183,184 | ) | ||||||||||||||
Ending balance | $ | 273,383 | $ | 324,978 | $ | 78,656 | $ | 164,644 | $ | 75,015 | $ | 916,676 | |||||||||||||
2012 | |||||||||||||||||||||||||
Beginning balance | $ | 234,022 | $ | 367,637 | $ | 91,915 | $ | 143,121 | $ | 71,595 | $ | 908,290 | |||||||||||||
Provision for credit losses | 42,510 | 5,211 | 34,864 | 119,235 | 2,180 | 204,000 | |||||||||||||||||||
Net charge-offs | |||||||||||||||||||||||||
Charge-offs | (41,148 | ) | (41,945 | ) | (44,314 | ) | (103,348 | ) | — | (230,755 | ) | ||||||||||||||
Recoveries | 11,375 | 6,198 | 6,342 | 20,410 | — | 44,325 | |||||||||||||||||||
Net charge-offs | (29,773 | ) | (35,747 | ) | (37,972 | ) | (82,938 | ) | — | (186,430 | ) | ||||||||||||||
Ending balance | $ | 246,759 | $ | 337,101 | $ | 88,807 | $ | 179,418 | $ | 73,775 | $ | 925,860 | |||||||||||||
2011 | |||||||||||||||||||||||||
Beginning balance | $ | 212,579 | $ | 400,562 | $ | 86,351 | $ | 133,067 | $ | 70,382 | $ | 902,941 | |||||||||||||
Provision for credit losses | 66,240 | 44,404 | 57,081 | 101,062 | 1,213 | 270,000 | |||||||||||||||||||
Net charge-offs | |||||||||||||||||||||||||
Charge-offs | (55,021 | ) | (86,869 | ) | (58,351 | ) | (109,246 | ) | — | (309,487 | ) | ||||||||||||||
Recoveries | 10,224 | 9,540 | 6,834 | 18,238 | — | 44,836 | |||||||||||||||||||
Net charge-offs | (44,797 | ) | (77,329 | ) | (51,517 | ) | (91,008 | ) | — | (264,651 | ) | ||||||||||||||
Ending balance | $ | 234,022 | $ | 367,637 | $ | 91,915 | $ | 143,121 | $ | 71,595 | $ | 908,290 | |||||||||||||
Despite the above allocation, the allowance for credit losses is general in nature and is available to absorb losses from any loan or lease type. | |||||||||||||||||||||||||
In establishing the allowance for credit losses, the Company estimates losses attributable to specific troubled credits identified through both normal and detailed or intensified credit review processes and also estimates losses inherent in other loans and leases on a collective basis. For purposes of determining the level of the allowance for credit losses, the Company evaluates its loan and lease portfolio by loan type. The amounts of loss components in the Company’s loan and lease portfolios are determined through a loan by loan analysis of larger balance commercial and commercial real estate loans that are in nonaccrual status and by applying loss factors to groups of loan balances based on loan type and management’s classification of such loans under the Company’s loan grading system. Measurement of the specific loss components is typically based on expected future cash flows, collateral values and other factors that may impact the borrower’s ability to pay. In determining the allowance for credit losses, the Company utilizes a loan grading system which is applied to commercial and commercial real estate credits on an individual loan basis. Loan officers are responsible for continually assigning grades to these loans based on standards outlined in the Company’s Credit Policy. Internal loan grades are also monitored by the Company’s loan review department to ensure consistency and strict adherence to the prescribed standards. Loan grades are assigned loss component factors that reflect the Company’s loss estimate for each group of loans and leases. Factors considered in assigning loan grades and loss component factors include borrower-specific information related to expected future cash flows and operating results, collateral values, geographic location, financial condition and performance, payment status, and other information; levels of and trends in portfolio charge-offs and recoveries; levels of and trends in portfolio delinquencies and impaired loans; changes in the risk profile of specific portfolios; trends in volume and terms of loans; effects of changes in credit concentrations; and observed trends and practices in the banking industry. As updated appraisals are obtained on individual loans or other events in the market place indicate that collateral values have significantly changed, individual loan grades are adjusted as appropriate. Changes in other factors cited may also lead to loan grade changes at any time. Except for consumer and residential real estate loans that are considered smaller balance homogenous loans and acquired loans that are evaluated on an aggregated basis, the Company considers a loan to be impaired for purposes of applying GAAP when, based on current information and events, it is probable that the Company will be unable to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days. Regardless of loan type, the Company considers a loan to be impaired if it qualifies as a troubled debt restructuring. Modified loans, including smaller balance homogenous loans, that are considered to be troubled debt restructurings are evaluated for impairment giving consideration to the impact of the modified loan terms on the present value of the loan’s expected cash flows. | |||||||||||||||||||||||||
The following tables provide information with respect to loans and leases that were considered impaired as of December 31, 2013 and 2012 and for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Recorded | Unpaid | Related | Recorded | Unpaid | Related | ||||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | ||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 90,293 | $ | 112,092 | $ | 24,614 | $ | 127,282 | $ | 149,534 | $ | 33,829 | |||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 113,570 | 132,325 | 19,520 | 121,542 | 143,846 | 23,641 | |||||||||||||||||||
Residential builder and developer | 33,311 | 55,122 | 4,379 | 115,306 | 216,218 | 25,661 | |||||||||||||||||||
Other commercial construction | 86,260 | 90,515 | 4,022 | 73,544 | 76,869 | 6,836 | |||||||||||||||||||
Residential | 96,508 | 114,521 | 7,146 | 103,451 | 121,819 | 3,521 | |||||||||||||||||||
Residential Alt-A | 111,911 | 124,528 | 14,000 | 128,891 | 141,940 | 17,000 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 13,672 | 14,796 | 3,312 | 12,360 | 13,567 | 2,254 | |||||||||||||||||||
Automobile | 40,441 | 40,441 | 11,074 | 49,210 | 49,210 | 14,273 | |||||||||||||||||||
Other | 17,660 | 17,660 | 4,541 | 14,408 | 14,408 | 5,667 | |||||||||||||||||||
603,626 | 702,000 | 92,608 | 745,994 | 927,411 | 132,682 | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | 28,093 | 33,095 | — | 32,631 | 42,199 | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 65,271 | 84,333 | — | 78,380 | 100,337 | — | |||||||||||||||||||
Residential builder and developer | 72,366 | 104,768 | — | 74,307 | 105,438 | — | |||||||||||||||||||
Other commercial construction | 7,369 | 11,493 | — | 23,018 | 23,532 | — | |||||||||||||||||||
Residential | 84,144 | 95,358 | — | 86,342 | 96,448 | — | |||||||||||||||||||
Residential Alt-A | 28,357 | 52,211 | — | 31,354 | 58,768 | — | |||||||||||||||||||
285,600 | 381,258 | — | 326,032 | 426,722 | — | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | 118,386 | 145,187 | 24,614 | 159,913 | 191,733 | 33,829 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 178,841 | 216,658 | 19,520 | 199,922 | 244,183 | 23,641 | |||||||||||||||||||
Residential builder and developer | 105,677 | 159,890 | 4,379 | 189,613 | 321,656 | 25,661 | |||||||||||||||||||
Other commercial construction | 93,629 | 102,008 | 4,022 | 96,562 | 100,401 | 6,836 | |||||||||||||||||||
Residential | 180,652 | 209,879 | 7,146 | 189,793 | 218,267 | 3,521 | |||||||||||||||||||
Residential Alt-A | 140,268 | 176,739 | 14,000 | 160,245 | 200,708 | 17,000 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 13,672 | 14,796 | 3,312 | 12,360 | 13,567 | 2,254 | |||||||||||||||||||
Automobile | 40,441 | 40,441 | 11,074 | 49,210 | 49,210 | 14,273 | |||||||||||||||||||
Other | 17,660 | 17,660 | 4,541 | 14,408 | 14,408 | 5,667 | |||||||||||||||||||
Total | $ | 889,226 | $ | 1,083,258 | $ | 92,608 | $ | 1,072,026 | $ | 1,354,133 | $ | 132,682 | |||||||||||||
Year Ended | Year Ended | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Average | Interest Income | Average | Interest Income | ||||||||||||||||||||||
Recorded | Recognized | Recorded | Recognized | ||||||||||||||||||||||
Investment | Total | Cash | Investment | Total | Cash | ||||||||||||||||||||
Basis | Basis | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 155,188 | $ | 7,197 | $ | 7,197 | $ | 151,314 | $ | 2,938 | $ | 2,938 | |||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 197,533 | 4,852 | 4,852 | 185,171 | 2,834 | 2,834 | |||||||||||||||||||
Residential builder and developer | 147,288 | 1,043 | 796 | 249,191 | 1,563 | 1,102 | |||||||||||||||||||
Other commercial construction | 96,475 | 5,248 | 5,248 | 99,672 | 5,020 | 5,020 | |||||||||||||||||||
Residential | 183,059 | 6,203 | 4,111 | 132,888 | 5,284 | 3,300 | |||||||||||||||||||
Residential Alt-A | 149,461 | 6,784 | 2,341 | 171,546 | 7,175 | 2,226 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 12,811 | 683 | 183 | 11,322 | 663 | 179 | |||||||||||||||||||
Automobile | 44,116 | 2,916 | 515 | 51,650 | 3,470 | 724 | |||||||||||||||||||
Other | 15,710 | 634 | 208 | 11,028 | 472 | 197 | |||||||||||||||||||
Total | $ | 1,001,641 | $ | 35,560 | $ | 25,451 | $ | 1,063,782 | $ | 29,419 | $ | 18,520 | |||||||||||||
Year Ended | |||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||
Interest Income | |||||||||||||||||||||||||
Recognized | |||||||||||||||||||||||||
Average | Total | Cash | |||||||||||||||||||||||
Recorded | Basis | ||||||||||||||||||||||||
Investment | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 163,485 | $ | 3,306 | $ | 3,278 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 189,837 | 2,060 | 1,985 | ||||||||||||||||||||||
Residential builder and developer | 317,296 | 1,948 | 860 | ||||||||||||||||||||||
Other commercial construction | 105,947 | 926 | 684 | ||||||||||||||||||||||
Residential | 99,107 | 4,271 | 2,286 | ||||||||||||||||||||||
Residential Alt-A | 196,161 | 7,713 | 1,965 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 11,428 | 681 | 106 | ||||||||||||||||||||||
Automobile | 56,862 | 3,850 | 1,060 | ||||||||||||||||||||||
Other | 5,006 | 273 | 89 | ||||||||||||||||||||||
Total | $ | 1,145,129 | $ | 25,028 | $ | 12,313 | |||||||||||||||||||
In accordance with the previously described policies, the Company utilizes a loan grading system that is applied to all commercial loans and commercial real estate loans. Loan grades are utilized to differentiate risk within the portfolio and consider the expectations of default for each loan. Commercial loans and commercial real estate loans with a lower expectation of default are assigned one of ten possible “pass” loan grades and are generally ascribed lower loss factors when determining the allowance for credit losses. Loans with an elevated level of credit risk are classified as “criticized” and are ascribed a higher loss factor when determining the allowance for credit losses. Criticized loans may be classified as “nonaccrual” if the Company no longer expects to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days or more. All larger balance criticized commercial loans and commercial real estate loans are individually reviewed by centralized loan review personnel each quarter to determine the appropriateness of the assigned loan grade, including whether the loan should be reported as accruing or nonaccruing. Smaller balance criticized loans are analyzed by business line risk management areas to ensure proper loan grade classification. Furthermore, criticized nonaccrual commercial loans and commercial real estate loans are considered impaired and, as a result, specific loss allowances on such loans are established within the allowance for credit losses to the extent appropriate in each individual instance. The following table summarizes the loan grades applied to the various classes of the Company’s commercial loans and commercial real estate loans. | |||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Commercial, | Commercial | Residential | Other | ||||||||||||||||||||||
Financial, | Builder and | Commercial | |||||||||||||||||||||||
Leasing, etc | Developer | Construction | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Pass | $ | 17,894,592 | $ | 20,972,257 | $ | 1,107,144 | $ | 3,040,106 | |||||||||||||||||
Criticized accrual | 699,885 | 596,553 | 72,941 | 54,464 | |||||||||||||||||||||
Criticized nonaccrual | 110,739 | 173,048 | 96,427 | 35,268 | |||||||||||||||||||||
Total | $ | 18,705,216 | $ | 21,741,858 | $ | 1,276,512 | $ | 3,129,838 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Pass | $ | 16,889,753 | $ | 21,275,182 | $ | 922,141 | $ | 2,307,436 | |||||||||||||||||
Criticized accrual | 735,292 | 804,132 | 85,520 | 186,843 | |||||||||||||||||||||
Criticized nonaccrual | 151,908 | 193,859 | 181,865 | 36,812 | |||||||||||||||||||||
Total | $ | 17,776,953 | $ | 22,273,173 | $ | 1,189,526 | $ | 2,531,091 | |||||||||||||||||
In determining the allowance for credit losses, residential real estate loans and consumer loans are generally evaluated collectively after considering such factors as payment performance and recent loss experience and trends, which are mainly driven by current collateral values in the market place as well as the amount of loan defaults. Loss rates on such loans are determined by reference to recent charge-off history and are evaluated (and adjusted if deemed appropriate) through consideration of other factors including near-term forecasted loss estimates developed by the Company’s Credit Department. In arriving at such forecasts, the Company considers the current estimated fair value of its collateral based on geographical adjustments for home price depreciation/appreciation and overall borrower repayment performance. With regard to collateral values, the realizability of such values by the Company contemplates repayment of the original balance of any first lien position prior to recovering amounts on a second lien position. However, residential real estate loans and outstanding balances of home equity loans and lines of credit that are more than 150 days past due are generally evaluated for collectibility on a loan-by-loan basis giving consideration to estimated collateral values. | |||||||||||||||||||||||||
The Company also measures additional losses for purchased impaired loans when it is probable that the Company will be unable to collect all cash flows expected at acquisition plus additional cash flows expected to be collected arising from changes in estimates after acquisition. The determination of the allocated portion of the allowance for credit losses is very subjective. Given that inherent subjectivity and potential imprecision involved in determining the allocated portion of the allowance for credit losses, the Company also provides an inherent unallocated portion of the allowance. The unallocated portion of the allowance is intended to recognize probable losses that are not otherwise identifiable and includes management’s subjective determination of amounts necessary to provide for the possible use of imprecise estimates in determining the allocated portion of the allowance. Therefore, the level of the unallocated portion of the allowance is primarily reflective of the inherent imprecision in the various calculations used in determining the allocated portion of the allowance for credit losses. Other factors that could also lead to changes in the unallocated portion include the effects of expansion into new markets for which the Company does not have the same degree of familiarity and experience regarding portfolio performance in changing market conditions, the introduction of new loan and lease product types, and other risks associated with the Company’s loan portfolio that may not be specifically identifiable. | |||||||||||||||||||||||||
The allocation of the allowance for credit losses summarized on the basis of the Company’s impairment methodology was as follows: | |||||||||||||||||||||||||
Commercial, | Real Estate | ||||||||||||||||||||||||
Financial, | |||||||||||||||||||||||||
Leasing, etc. | Commercial | Residential | Consumer | Total | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 24,614 | $ | 27,563 | $ | 21,127 | $ | 18,927 | $ | 92,231 | |||||||||||||||
Collectively evaluated for impairment | 246,096 | 296,781 | 55,864 | 144,210 | 742,951 | ||||||||||||||||||||
Purchased impaired | 2,673 | 634 | 1,665 | 1,507 | 6,479 | ||||||||||||||||||||
Allocated | $ | 273,383 | $ | 324,978 | $ | 78,656 | $ | 164,644 | 841,661 | ||||||||||||||||
Unallocated | 75,015 | ||||||||||||||||||||||||
Total | $ | 916,676 | |||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 33,669 | $ | 55,291 | $ | 20,502 | $ | 22,194 | $ | 131,656 | |||||||||||||||
Collectively evaluated for impairment | 212,930 | 280,789 | 66,684 | 156,661 | 717,064 | ||||||||||||||||||||
Purchased impaired | 160 | 1,021 | 1,621 | 563 | 3,365 | ||||||||||||||||||||
Allocated | $ | 246,759 | $ | 337,101 | $ | 88,807 | $ | 179,418 | 852,085 | ||||||||||||||||
Unallocated | 73,775 | ||||||||||||||||||||||||
Total | $ | 925,860 | |||||||||||||||||||||||
The recorded investment in loans and leases summarized on the basis of the Company’s impairment methodology was as follows: | |||||||||||||||||||||||||
Commercial, | Real Estate | ||||||||||||||||||||||||
Financial, | |||||||||||||||||||||||||
Leasing, etc. | Commercial | Residential | Consumer | Total | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 118,386 | $ | 376,339 | $ | 320,360 | $ | 71,773 | $ | 886,858 | |||||||||||||||
Collectively evaluated for impairment | 18,571,124 | 25,488,584 | 8,578,677 | 10,217,124 | 62,855,509 | ||||||||||||||||||||
Purchased impaired | 15,706 | 283,285 | 29,184 | 2,617 | 330,792 | ||||||||||||||||||||
Total | $ | 18,705,216 | $ | 26,148,208 | $ | 8,928,221 | $ | 10,291,514 | $ | 64,073,159 | |||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 159,761 | $ | 480,335 | $ | 349,477 | $ | 75,978 | $ | 1,065,551 | |||||||||||||||
Collectively evaluated for impairment | 17,599,755 | 25,123,758 | 10,854,591 | 11,480,188 | 65,058,292 | ||||||||||||||||||||
Purchased impaired | 17,437 | 389,697 | 36,769 | 3,211 | 447,114 | ||||||||||||||||||||
Total | $ | 17,776,953 | $ | 25,993,790 | $ | 11,240,837 | $ | 11,559,377 | $ | 66,570,957 | |||||||||||||||
Premises_and_equipment
Premises and equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Premises and equipment | ' | ||||||||
6. Premises and equipment | |||||||||
The detail of premises and equipment was as follows: | |||||||||
December 31 | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Land | $ | 84,220 | $ | 84,545 | |||||
Buildings — owned | 402,065 | 393,527 | |||||||
Buildings — capital leases | 1,131 | 1,131 | |||||||
Leasehold improvements | 208,947 | 198,498 | |||||||
Furniture and equipment — owned | 547,824 | 465,113 | |||||||
Furniture and equipment — capital leases | 17,703 | 17,915 | |||||||
1,261,890 | 1,160,729 | ||||||||
Less: accumulated depreciation and amortization | |||||||||
Owned assets | 617,228 | 559,948 | |||||||
Capital leases | 11,142 | 6,129 | |||||||
628,370 | 566,077 | ||||||||
Premises and equipment, net | $ | 633,520 | $ | 594,652 | |||||
Net lease expense for all operating leases totaled $103,297,000 in 2013, $102,924,000 in 2012 and $97,098,000 in 2011. Minimum lease payments under noncancelable operating leases are presented in note 21. Minimum lease payments required under capital leases are not material. |
Capitalized_servicing_assets
Capitalized servicing assets | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Transfers And Servicing [Abstract] | ' | ||||||||||||||||||||||||
Capitalized servicing assets | ' | ||||||||||||||||||||||||
7. Capitalized servicing assets | |||||||||||||||||||||||||
Changes in capitalized servicing assets were as follows: | |||||||||||||||||||||||||
Residential Mortgage Loans | Commercial Mortgage Loans | ||||||||||||||||||||||||
For Year Ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 104,855 | $ | 131,264 | $ | 92,066 | $ | 59,978 | $ | 51,250 | $ | 42,613 | |||||||||||||
Originations | 52,375 | 14,577 | 13,920 | 26,754 | 19,653 | 17,613 | |||||||||||||||||||
Purchases | 272 | 109 | 61,642 | — | — | — | |||||||||||||||||||
Recognized in loan securitization transactions | 13,696 | — | — | — | — | — | |||||||||||||||||||
Amortization | (44,821 | ) | (41,095 | ) | (36,364 | ) | (14,233 | ) | (10,925 | ) | (8,976 | ) | |||||||||||||
126,377 | 104,855 | 131,264 | 72,499 | 59,978 | 51,250 | ||||||||||||||||||||
Valuation allowance | (300 | ) | (4,500 | ) | (1,800 | ) | — | — | — | ||||||||||||||||
Ending balance, net | $ | 126,077 | $ | 100,355 | $ | 129,464 | $ | 72,499 | $ | 59,978 | $ | 51,250 | |||||||||||||
Other | Total | ||||||||||||||||||||||||
For Year Ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 8,143 | $ | 15,678 | $ | 26,197 | $ | 172,976 | $ | 198,192 | $ | 160,876 | |||||||||||||
Originations | — | — | — | 79,129 | 34,230 | 31,533 | |||||||||||||||||||
Purchases | — | — | — | 272 | 109 | 61,642 | |||||||||||||||||||
Recognized in loan securitization transactions | 9,382 | — | — | 23,078 | — | — | |||||||||||||||||||
Amortization | (6,300 | ) | (7,535 | ) | (10,519 | ) | (65,354 | ) | (59,555 | ) | (55,859 | ) | |||||||||||||
11,225 | 8,143 | 15,678 | 210,101 | 172,976 | 198,192 | ||||||||||||||||||||
Valuation allowance | — | — | — | (300 | ) | (4,500 | ) | (1,800 | ) | ||||||||||||||||
Ending balance, net | $ | 11,225 | $ | 8,143 | $ | 15,678 | $ | 209,801 | $ | 168,476 | $ | 196,392 | |||||||||||||
Residential mortgage loans serviced for others were $69.1 billion at December 31, 2013, $32.1 billion at December 31, 2012 and $36.3 billion at December 31, 2011. Reflected in residential mortgage loans serviced for others were loans sub-serviced for others of $46.6 billion, $12.5 billion and $14.3 billion at December 31, 2013, 2012, and 2011, respectively. Commercial mortgage loans serviced for others were $11.4 billion, $10.6 billion and $9.0 billion at December 31, 2013, 2012 and 2011, respectively. Other loans serviced for others include small balance commercial mortgage loans and automobile loans totaling $4.4 billion, $3.8 billion and $4.4 billion at December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
Changes in the valuation allowance for capitalized residential mortgage servicing assets were not significant in 2013, 2012 or 2011. The estimated fair value of capitalized residential mortgage loan servicing assets was approximately $266 million at December 31, 2013 and $138 million at December 31, 2012. The fair value of capitalized residential mortgage loan servicing assets was estimated using weighted-average discount rates of 9.3% and 10.6% at December 31, 2013 and 2012, respectively, and contemporaneous prepayment assumptions that vary by loan type. At December 31, 2013 and 2012, the discount rate represented a weighted-average option-adjusted spread (“OAS”) of 770 basis points (hundredths of one percent) and 929 basis points, respectively, over market implied forward London Interbank Offered Rates. The estimated fair value of capitalized residential mortgage loan servicing rights may vary significantly in subsequent periods due to changing interest rates and the effect thereof on prepayment speeds. The estimated fair value of capitalized commercial mortgage loan servicing assets was approximately $85 million and $71 million at December 31, 2013 and 2012, respectively. An 18% discount rate was used to estimate the fair value of capitalized commercial mortgage loan servicing rights at December 31, 2013 and 2012 with no prepayment assumptions because, in general, the servicing agreements allow the Company to share in customer loan prepayment fees and thereby recover the remaining carrying value of the capitalized servicing rights associated with such loan. The Company’s ability to realize the carrying value of capitalized commercial mortgage servicing rights is more dependent on the borrowers’ abilities to repay the underlying loans than on prepayments or changes in interest rates. | |||||||||||||||||||||||||
The key economic assumptions used to determine the fair value of significant portfolios of capitalized servicing rights at December 31, 2013 and the sensitivity of such value to changes in those assumptions are summarized in the table that follows. Those calculated sensitivities are hypothetical and actual changes in the fair value of capitalized servicing rights may differ significantly from the amounts presented herein. The effect of a variation in a particular assumption on the fair value of the servicing rights is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another which may magnify or counteract the sensitivities. The changes in assumptions are presumed to be instantaneous. | |||||||||||||||||||||||||
Residential | Commercial | ||||||||||||||||||||||||
Weighted-average prepayment speeds | 11.39 | % | |||||||||||||||||||||||
Impact on fair value of 10% adverse change | $ | (11,283,000 | ) | ||||||||||||||||||||||
Impact on fair value of 20% adverse change | (21,664,000 | ) | |||||||||||||||||||||||
Weighted-average OAS | 7.7 | % | |||||||||||||||||||||||
Impact on fair value of 10% adverse change | $ | (5,714,000 | ) | ||||||||||||||||||||||
Impact on fair value of 20% adverse change | (11,155,000 | ) | |||||||||||||||||||||||
Weighted-average discount rate | 18 | % | |||||||||||||||||||||||
Impact on fair value of 10% adverse change | $ | (3,677,000 | ) | ||||||||||||||||||||||
Impact on fair value of 20% adverse change | (7,096,000 | ) | |||||||||||||||||||||||
As described in note 19, during 2013 the Company securitized approximately $1.3 billion of one-to-four family residential mortgage loans formerly held in the Company’s loan portfolio in guaranteed mortgage securitizations with Ginnie Mae and securitized and sold approximately $1.4 billion of automobile loans. In conjunction with these transactions, the Company retained the servicing rights to the loans. |
Goodwill_and_other_intangible_
Goodwill and other intangible assets | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Goodwill and other intangible assets | ' | ||||||||||||
8. Goodwill and other intangible assets | |||||||||||||
In accordance with GAAP, the Company does not amortize goodwill, however, core deposit and other intangible assets are amortized over the estimated life of each respective asset. Total amortizing intangible assets were comprised of the following: | |||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||
Amount | Amortization | Amount | |||||||||||
(In thousands) | |||||||||||||
December 31, 2013 | |||||||||||||
Core deposit | $ | 755,794 | $ | 705,518 | $ | 50,276 | |||||||
Other | 177,268 | 158,693 | 18,575 | ||||||||||
Total | $ | 933,062 | $ | 864,211 | $ | 68,851 | |||||||
December 31, 2012 | |||||||||||||
Core deposit | $ | 755,794 | $ | 670,940 | $ | 84,854 | |||||||
Other | 177,268 | 146,359 | 30,909 | ||||||||||
Total | $ | 933,062 | $ | 817,299 | $ | 115,763 | |||||||
Amortization of core deposit and other intangible assets was generally computed using accelerated methods over original amortization periods of five to ten years. The weighted-average original amortization period was approximately eight years. The remaining weighted-average amortization period as of December 31, 2013 was approximately three years. Amortization expense for core deposit and other intangible assets was $46,912,000, $60,631,000 and $61,617,000 for the years ended December 31, 2013, 2012 and 2011, respectively. Estimated amortization expense in future years for such intangible assets is as follows: | |||||||||||||
(In thousands) | |||||||||||||
Year ending December 31: | |||||||||||||
2014 | $ | 33,825 | |||||||||||
2015 | 20,938 | ||||||||||||
2016 | 10,052 | ||||||||||||
2017 | 3,303 | ||||||||||||
2018 | 733 | ||||||||||||
$ | 68,851 | ||||||||||||
In accordance with GAAP, the Company completed annual goodwill impairment tests as of October 1, 2013, 2012 and 2011. For purposes of testing for impairment, the Company assigned all recorded goodwill to the reporting units originally intended to benefit from past business combinations, which has historically been the Company’s core relationship business reporting units. Goodwill was generally assigned based on the implied fair value of the acquired goodwill applicable to the benefited reporting units at the time of each respective acquisition. The implied fair value of the goodwill was determined as the difference between the estimated incremental overall fair value of the reporting unit and the estimated fair value of the net assets assigned to the reporting unit as of each respective acquisition date. To test for goodwill impairment at each evaluation date, the Company compared the estimated fair value of each of its reporting units to their respective carrying amounts and certain other assets and liabilities assigned to the reporting unit, including goodwill and core deposit and other intangible assets. The methodologies used to estimate fair values of reporting units as of the acquisition dates and as of the evaluation dates were similar. For the Company’s core customer relationship business reporting units, fair value was estimated as the present value of the expected future cash flows of the reporting unit. Based on the results of the goodwill impairment tests, the Company concluded that the amount of recorded goodwill was not impaired at the respective testing dates. | |||||||||||||
A summary of goodwill assigned to each of the Company’s reportable segments as of December 31, 2013 and 2012 for purposes of testing for impairment is as follows. | |||||||||||||
(In thousands) | |||||||||||||
Business Banking | $ | 748,907 | |||||||||||
Commercial Banking | 907,524 | ||||||||||||
Commercial Real Estate | 349,197 | ||||||||||||
Discretionary Portfolio | — | ||||||||||||
Residential Mortgage Banking | — | ||||||||||||
Retail Banking | 1,144,404 | ||||||||||||
All Other | 374,593 | ||||||||||||
Total | $ | 3,524,625 |
Borrowings
Borrowings | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Borrowings | ' | ||||||||||||
9. Borrowings | |||||||||||||
The amounts and interest rates of short-term borrowings were as follows: | |||||||||||||
Federal Funds | Other | Total | |||||||||||
Purchased | Short-term | ||||||||||||
and | Borrowings | ||||||||||||
Repurchase | |||||||||||||
Agreements | |||||||||||||
(Dollars in thousands) | |||||||||||||
At December 31, 2013 | |||||||||||||
Amount outstanding | $ | 260,455 | $ | — | $ | 260,455 | |||||||
Weighted-average interest rate | 0.04 | % | — | 0.04 | % | ||||||||
For the year ended December 31, 2013 | |||||||||||||
Highest amount at a month-end | $ | 563,879 | $ | — | |||||||||
Daily-average amount outstanding | 390,034 | — | $ | 390,034 | |||||||||
Weighted-average interest rate | 0.11 | % | — | 0.11 | % | ||||||||
At December 31, 2012 | |||||||||||||
Amount outstanding | $ | 1,074,482 | $ | — | $ | 1,074,482 | |||||||
Weighted-average interest rate | 0.11 | % | — | 0.11 | % | ||||||||
For the year ended December 31, 2012 | |||||||||||||
Highest amount at a month-end | $ | 1,224,194 | $ | 50,016 | |||||||||
Daily-average amount outstanding | 822,859 | 16,043 | $ | 838,902 | |||||||||
Weighted-average interest rate | 0.15 | % | 0.57 | % | 0.15 | % | |||||||
At December 31, 2011 | |||||||||||||
Amount outstanding | $ | 732,059 | $ | 50,023 | $ | 782,082 | |||||||
Weighted-average interest rate | 0.04 | % | 0.7 | % | 0.09 | % | |||||||
For the year ended December 31, 2011 | |||||||||||||
Highest amount at a month-end | $ | 1,389,237 | $ | 142,927 | |||||||||
Daily-average amount outstanding | 706,749 | 120,059 | $ | 826,808 | |||||||||
Weighted-average interest rate | 0.11 | % | 0.18 | % | 0.12 | % | |||||||
Short-term borrowings have a stated maturity of one year or less at the date the Company enters into the obligation. In general, federal funds purchased and short-term repurchase agreements outstanding at December 31, 2013 matured on the next business day following year-end. Other short-term borrowings at December 31, 2011 included $50 million of borrowings from FHLBs. There were no similar borrowings at December 31, 2013 or December 31, 2012. | |||||||||||||
At December 31, 2013, the Company had lines of credit under formal agreements as follows: | |||||||||||||
M&T | M&T Bank | Wilmington | |||||||||||
Trust, N.A. | |||||||||||||
(In thousands) | |||||||||||||
Outstanding borrowings | $ | — | $ | 28,868 | $ | — | |||||||
Unused | 30,000 | 19,838,117 | 300,710 | ||||||||||
M&T has a revolving credit agreement with an unaffiliated commercial bank whereby M&T may borrow up to $30 million at its discretion through November 21, 2014. At December 31, 2013, M&T Bank had borrowing facilities available with the FHLBs whereby M&T Bank could borrow up to approximately $8.3 billion. Additionally, M&T Bank and Wilmington Trust, National Association (“Wilmington Trust, N.A.”), a wholly owned subsidiary of M&T, had available lines of credit with the Federal Reserve Bank of New York totaling approximately $11.8 billion at December 31, 2013. M&T Bank and Wilmington Trust, N.A. are required to pledge loans and investment securities as collateral for these borrowing facilities. | |||||||||||||
Long-term borrowings were as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Senior notes of M&T Bank: | |||||||||||||
Variable rate due 2016 | $ | 300,000 | $ | — | |||||||||
1.45% due 2018 | 502,479 | — | |||||||||||
Advances from FHLB: | |||||||||||||
Fixed rates | 29,079 | 30,066 | |||||||||||
Agreements to repurchase securities | 1,400,000 | 1,400,000 | |||||||||||
Subordinated notes of Wilmington Trust Corporation | |||||||||||||
(a wholly owned subsidiary of M&T): | |||||||||||||
4.875% due 2013 | — | 251,298 | |||||||||||
8.50% due 2018 | 224,067 | 230,255 | |||||||||||
Subordinated notes of M&T Bank: | |||||||||||||
6.625% due 2017 | 437,582 | 455,439 | |||||||||||
9.50% due 2018 | 50,000 | 50,000 | |||||||||||
5.585% due 2020, variable rate commencing 2015 | 392,964 | 385,669 | |||||||||||
5.629% due 2021, variable rate commencing 2016 | 559,378 | 583,097 | |||||||||||
Junior subordinated debentures of M&T associated with preferred capital securities: | |||||||||||||
Fixed rates: | |||||||||||||
M&T Capital Trust I — 8.234%, due 2027 | 154,640 | 154,640 | |||||||||||
M&T Capital Trust II — 8.277%, due 2027 | 103,093 | 103,093 | |||||||||||
M&T Capital Trust III — 9.25%, due 2027 | 66,109 | 66,434 | |||||||||||
BSB Capital Trust I — 8.125%, due 2028 | 15,589 | 15,566 | |||||||||||
Provident Trust I — 8.29%, due 2028 | 25,051 | 24,746 | |||||||||||
Southern Financial Statutory Trust I — 10.60%, due 2030 | 6,521 | 6,496 | |||||||||||
M&T Capital Trust IV — 8.50%, due 2068 | 350,010 | 350,010 | |||||||||||
Variable rates: | |||||||||||||
First Maryland Capital I — due 2027 | 144,641 | 144,102 | |||||||||||
First Maryland Capital II — due 2027 | 145,964 | 145,301 | |||||||||||
Allfirst Asset Trust — due 2029 | 96,059 | 95,913 | |||||||||||
BSB Capital Trust III — due 2033 | 15,464 | 15,464 | |||||||||||
Provident Trust III — due 2033 | 52,176 | 51,694 | |||||||||||
Southern Financial Capital Trust III — due 2033 | 7,747 | 7,683 | |||||||||||
Other | 30,257 | 40,792 | |||||||||||
$ | 5,108,870 | $ | 4,607,758 | ||||||||||
During the first quarter of 2013, M&T Bank instituted a Bank Note Program whereby M&T Bank may offer up to $5 billion in unsecured senior and subordinated notes. During March 2013, three-year floating rate senior notes due March 2016 were issued for $300 million and five-year 1.45% fixed rate senior notes due March 2018 were issued for $500 million. The floating rate notes pay interest quarterly at rates that are indexed to the three-month LIBOR. The rate at December 31, 2013 was .54%. | |||||||||||||
Long-term fixed rate advances from the FHLB had contractual interest rates ranging from 3.48% to 7.32% at December 31, 2013 and 2012. The weighted-average contractual interest rates payable were 4.60% at December 31, 2013 and 4.64% at December 31, 2012. Advances from the FHLB mature at various dates through 2035 and are secured by residential real estate loans, commercial real estate loans and investment securities. | |||||||||||||
Long-term agreements to repurchase securities had contractual interest rates that ranged from 3.61% to 4.30% at each of December 31, 2013 and 2012. The weighted-average contractual interest rates were 3.90% at each of those dates. The agreements outstanding at December 31, 2013 reflect various repurchase dates through 2017, however, the contractual maturities of the underlying investment securities extend beyond such repurchase dates. The agreements are subject to legally enforceable master netting arrangements, however, the Company has not offset any amounts related to these agreements in its consolidated financial statements. The Company posted collateral of $1.6 billion at each of December 31, 2013 and 2012. | |||||||||||||
The subordinated notes of M&T Bank and Wilmington Trust Corporation are unsecured and are subordinate to the claims of other creditors of those entities. | |||||||||||||
The fixed and floating rate junior subordinated deferrable interest debentures of M&T (“Junior Subordinated Debentures”) are held by various trusts and were issued in connection with the issuance by those trusts of preferred capital securities (“Capital Securities”) and common securities (“Common Securities”). The proceeds from the issuances of the Capital Securities and the Common Securities were used by the trusts to purchase the Junior Subordinated Debentures. The Common Securities of each of those trusts are wholly owned by M&T and are the only class of each trust’s securities possessing general voting powers. The Capital Securities represent preferred undivided interests in the assets of the corresponding trust. Under the Federal Reserve Board’s current risk-based capital guidelines, the Capital Securities are includable in M&T’s Tier 1 capital. However, in July 2013, the Federal Reserve Board, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation issued a final rule to comprehensively revise the capital framework for the U.S. banking sector. Under that rule, trust preferred capital securities will be phased out from inclusion in Tier 1 capital such that in 2015 only 25% of then-outstanding securities will be included in Tier 1 capital and beginning in 2016 none of the securities will be included in Tier 1 capital. The variable rate Junior Subordinated Debentures pay interest quarterly at rates that are indexed to the three-month LIBOR. Those rates ranged from 1.09% to 3.59% at December 31, 2013 and from 1.16% to 3.69% at December 31, 2012. The weighted-average variable rates payable on those Junior Subordinated Debentures were 1.67% at December 31, 2013 and 1.75% at December 31, 2012. | |||||||||||||
Holders of the Capital Securities receive preferential cumulative cash distributions unless M&T exercises its right to extend the payment of interest on the Junior Subordinated Debentures as allowed by the terms of each such debenture, in which case payment of distributions on the respective Capital Securities will be deferred for comparable periods. During an extended interest period, M&T may not pay dividends or distributions on, or repurchase, redeem or acquire any shares of its capital stock. In the event of an extended interest period exceeding twenty quarterly periods for $350 million of Junior Subordinated Debentures due January 31, 2068, M&T must fund the payment of accrued and unpaid interest through an alternative payment mechanism, which requires M&T to issue common stock, non-cumulative perpetual preferred stock or warrants to purchase common stock until M&T has raised an amount of eligible proceeds at least equal to the aggregate amount of accrued and unpaid deferred interest on the Junior Subordinated Debentures due January 31, 2068. In general, the agreements governing the Capital Securities, in the aggregate, provide a full, irrevocable and unconditional guarantee by M&T of the payment of distributions on, the redemption of, and any liquidation distribution with respect to the Capital Securities. The obligations under such guarantee and the Capital Securities are subordinate and junior in right of payment to all senior indebtedness of M&T. | |||||||||||||
The Capital Securities will remain outstanding until the Junior Subordinated Debentures are repaid at maturity, are redeemed prior to maturity or are distributed in liquidation to the Trusts. The Capital Securities are mandatorily redeemable in whole, but not in part, upon repayment at the stated maturity dates (ranging from 2027 to 2068) of the Junior Subordinated Debentures or the earlier redemption of the Junior Subordinated Debentures in whole upon the occurrence of one or more events set forth in the indentures relating to the Capital Securities, and in whole or in part at any time after an optional redemption prior to contractual maturity contemporaneously with the optional redemption of the related Junior Subordinated Debentures in whole or in part, subject to possible regulatory approval. In January 2014, M&T announced that it will redeem all of the issued and outstanding 8.5% $350 million trust preferred securities issued by M&T Capital Trust IV and the related junior subordinated debentures held by M&T Capital Trust IV on February 27, 2014. | |||||||||||||
Long-term borrowings at December 31, 2013 mature as follows: | |||||||||||||
(In thousands) | |||||||||||||
Year ending December 31: | |||||||||||||
2014 | $ | 22,021 | |||||||||||
2015 | 5,756 | ||||||||||||
2016 | 1,105,075 | ||||||||||||
2017 | 1,041,871 | ||||||||||||
2018 | 777,991 | ||||||||||||
Later years | 2,156,156 | ||||||||||||
$ | 5,108,870 | ||||||||||||
Shareholders_equity
Shareholders' equity | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Shareholders' equity | ' | ||||||||||||||||
10. Shareholders’ equity | |||||||||||||||||
M&T is authorized to issue 1,000,000 shares of preferred stock with a $1.00 par value per share. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference, but have no general voting rights. | |||||||||||||||||
Issued and outstanding preferred stock of M&T is presented below: | |||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Carrying | Shares | Carrying | ||||||||||||||
Issued and | Value | Issued and | Value | ||||||||||||||
Outstanding | Outstanding | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Series A(a) | |||||||||||||||||
Fixed Rate Cumulative Perpetual Preferred Stock, Series A, $1,000 liquidation preference per share | 230,000 | $ | 230,000 | 230,000 | $ | 226,965 | |||||||||||
Series C(a) | |||||||||||||||||
Fixed Rate Cumulative Perpetual Preferred Stock, Series C, $1,000 liquidation preference per share | 151,500 | 151,500 | 151,500 | 145,535 | |||||||||||||
Series D(b) | |||||||||||||||||
Fixed Rate Non-cumulative Perpetual Preferred Stock, Series D, $10,000 liquidation preference per share | 50,000 | 500,000 | 50,000 | 500,000 | |||||||||||||
(a) | Shares were originally issued as part of the TARP of the U.S Treasury. Cash proceeds were allocated between the preferred stock and a ten-year warrant to purchase M&T common stock (Series A — 1,218,522 common shares at $73.86 per share, Series C — 407,542 common shares at $55.76 per share). The U.S. Treasury sold all of the shares of M&T preferred stock that it held in August 2012. In connection with that sale, the terms of the preferred stock were modified such that dividends, if declared, were paid quarterly at a rate of 5% per year through November 14, 2013 and at 6.375% thereafter, and M&T agreed to not redeem the preferred shares until on or after November 15, 2018. In December 2012, the U.S. Treasury sold to other investors the Series A warrants for $26.50 per warrant. In March 2013, the U.S. Treasury exercised the Series C warrants in a “cashless” exercise, resulting in the issuance of 186,589 common shares. During 2013, 69,127 of the Series A warrants were exercised in “cashless” exercises, resulting in the issuance of 25,427 common shares. Remaining outstanding Series A warrants were 1,149,395 at December 31, 2013. | ||||||||||||||||
(b) | Dividends, if declared, will be paid semi-annually at a rate of 6.875% per year. The shares are redeemable in whole or in part on or after June 15, 2016. Notwithstanding M&T’s option to redeem the shares, if an event occurs such that the shares no longer qualify as Tier 1 capital, M&T may redeem all of the shares within 90 days following that occurrence. | ||||||||||||||||
In addition to the Series A and Series C warrants mentioned in (a) above, a ten-year warrant to purchase 95,383 shares of M&T common stock at $518.96 per share was outstanding at each of December 31, 2013 and 2012. That warrant was issued by Wilmington Trust in December 2008 as part of the TARP of the U.S. Treasury. |
Stockbased_compensation_plans
Stock-based compensation plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-based compensation plans | ' | ||||||||||||||||
11. Stock-based compensation plans | |||||||||||||||||
Stock-based compensation expense was $55 million in 2013, $57 million in 2012 and $56 million in 2011. The Company recognized income tax benefits related to stock-based compensation of $29 million in 2013, $30 million in 2012 and $22 million in 2011. | |||||||||||||||||
The Company’s equity incentive compensation plan allows for the issuance of various forms of stock-based compensation, including stock options, restricted stock, restricted stock units and performance-based awards. Through December 31, 2013, only stock-based compensation awards, including stock options, restricted stock and restricted stock units, that vest with the passage of time as service is provided have been issued. At December 31, 2013 and 2012, respectively, there were 4,874,542 and 5,307,228 shares available for future grant under the Company’s equity incentive compensation plan. | |||||||||||||||||
Restricted stock awards | |||||||||||||||||
Restricted stock awards are comprised of restricted stock and restricted stock units. Restricted stock awards generally vest over four years. Unrecognized compensation expense associated with restricted stock was $27 million as of December 31, 2013 and is expected to be recognized over a weighted-average period of 1.5 years. The Company generally will issue restricted shares from treasury stock to the extent available, but may also issue new shares. During 2013, 2012 and 2011, the number of restricted shares issued was 269,755, 453,908 and 451,248, respectively, with a weighted-average grant date fair value of $27,716,000, $36,969,000 and $38,369,000, respectively. Unrecognized compensation expense associated with restricted stock units was $9 million as of December 31, 2013 and is expected to be recognized over a weighted-average period of 1.4 years. During 2013, 2012 and 2011 the number of restricted stock units issued was 315,316, 278,505 and 242,282, respectively, with a weighted-average grant date fair value of $32,380,000, $22,139,000 and $20,921,000, respectively. | |||||||||||||||||
A summary of restricted stock and restricted stock unit activity follows: | |||||||||||||||||
Restricted | Weighted- | Restricted | Weighted- | ||||||||||||||
Stock Units | Average | Stock | Average | ||||||||||||||
Outstanding | Grant Price | Outstanding | Grant Price | ||||||||||||||
Unvested at January 1, 2013 | 799,495 | $ | 70.28 | 1,095,631 | $ | 71.01 | |||||||||||
Granted | 315,316 | 102.69 | 269,755 | 102.75 | |||||||||||||
Vested | (341,348 | ) | 56.43 | (446,882 | ) | 56.74 | |||||||||||
Cancelled | (2,633 | ) | 96.9 | (55,809 | ) | 87.05 | |||||||||||
Unvested at December 31, 2013 | 770,830 | $ | 89.58 | 862,695 | $ | 87.29 | |||||||||||
Stock option awards | |||||||||||||||||
Stock options issued generally vest over four years and are exercisable over terms not exceeding ten years and one day. The Company used an option pricing model to estimate the grant date present value of stock options granted. Stock options granted in 2013, 2012 and 2011 were not significant. | |||||||||||||||||
A summary of stock option activity follows: | |||||||||||||||||
Stock | Weighted-Average | Aggregate | |||||||||||||||
Options | Intrinsic Value | ||||||||||||||||
Outstanding | Exercise | Life | (In thousands) | ||||||||||||||
Price | (In Years) | ||||||||||||||||
Outstanding at January 1, 2013 | 7,033,359 | $ | 103.3 | ||||||||||||||
Granted | 100 | 102.69 | |||||||||||||||
Exercised | (1,998,841 | ) | 95.27 | ||||||||||||||
Expired | (153,857 | ) | 138.46 | ||||||||||||||
Outstanding at December 31, 2013 | 4,880,761 | $ | 105.48 | 2.8 | $ | 66,464 | |||||||||||
Exercisable at December 31, 2013 | 4,879,148 | $ | 105.49 | 2.8 | $ | 66,400 | |||||||||||
For 2013, 2012 and 2011, M&T received $172 million, $153 million and $28 million, respectively, in cash and realized tax benefits from the exercise of stock options of $12 million, $8 million and $3 million, respectively. The intrinsic value of stock options exercised during those periods was $34 million, $21 million and $7 million, respectively. As of December 31, 2013, the amount of unrecognized compensation cost related to non-vested stock options was not significant. The total grant date fair value of stock options vested during 2013 was not significant, and for 2012 and 2011 was $17 million and $29 million, respectively. Upon the exercise of stock options, the Company generally issues shares from treasury stock to the extent available, but may also issue new shares. | |||||||||||||||||
Stock purchase plan | |||||||||||||||||
The stock purchase plan provides eligible employees of the Company with the right to purchase shares of M&T common stock at a discount through accumulated payroll deductions. In connection with the employee stock purchase plan, 2,500,000 shares of M&T common stock were authorized for issuance under a plan adopted in 2013, of which no shares have been issued. There were no shares issued in 2013, 151,014 shares issued in 2012 under a previous plan and no shares issued in 2011. For 2012 M&T received $10,117,000 in cash for shares purchased through the employee stock purchase plan. Compensation expense recognized for the stock purchase plan was not significant in 2013, 2012 or 2011. | |||||||||||||||||
Deferred bonus plan | |||||||||||||||||
The Company provided a deferred bonus plan pursuant to which eligible employees could elect to defer all or a portion of their annual incentive compensation awards and allocate such awards to several investment options, including M&T common stock. Participants could elect the timing of distributions from the plan. Such distributions are payable in cash with the exception of balances allocated to M&T common stock which are distributable in the form of M&T common stock. Shares of M&T common stock distributable pursuant to the terms of the deferred bonus plan were 33,046 and 38,593 at December 31, 2013 and 2012, respectively. The obligation to issue shares is included in “common stock issuable” in the consolidated balance sheet. Through December 31, 2013, 139,429 shares have been issued in connection with the deferred bonus plan. | |||||||||||||||||
Directors’ stock plan | |||||||||||||||||
The Company maintains a compensation plan for non-employee members of the Company’s boards of directors and directors advisory councils that allows such members to receive all or a portion of their compensation in shares of M&T common stock. Through December 31, 2013, 197,905 shares had been issued in connection with the directors’ stock plan. | |||||||||||||||||
Through acquisitions, the Company assumed obligations to issue shares of M&T common stock related to deferred directors compensation plans. Shares of common stock issuable under such plans were 14,185 and 18,816 at December 31, 2013 and 2012, respectively. The obligation to issue shares is included in “common stock issuable” in the consolidated balance sheet. |
Pension_plans_and_other_postre
Pension plans and other postretirement benefits | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Pension plans and other postretirement benefits | ' | ||||||||||||||||||||||||
12. Pension plans and other postretirement benefits | |||||||||||||||||||||||||
The Company provides pension (defined benefit and defined contribution plans) and other postretirement benefits (including defined benefit health care and life insurance plans) to qualified retired employees. The Company uses a December 31 measurement date for all of its plans. | |||||||||||||||||||||||||
Net periodic pension expense for defined benefit plans consisted of the following: | |||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Service cost | $ | 24,360 | $ | 29,549 | $ | 28,828 | |||||||||||||||||||
Interest cost on benefit obligation | 60,130 | 62,037 | 58,545 | ||||||||||||||||||||||
Expected return on plan assets | (87,353 | ) | (70,511 | ) | (60,700 | ) | |||||||||||||||||||
Amortization of prior service credit | (6,556 | ) | (6,559 | ) | (6,559 | ) | |||||||||||||||||||
Recognized net actuarial loss | 41,076 | 37,386 | 20,530 | ||||||||||||||||||||||
Net periodic pension expense | $ | 31,657 | $ | 51,902 | $ | 40,644 | |||||||||||||||||||
Net other postretirement benefits expense for defined benefit plans consisted of the following: | |||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Service cost | $ | 742 | $ | 668 | $ | 535 | |||||||||||||||||||
Interest cost on benefit obligation | 2,691 | 3,737 | 3,761 | ||||||||||||||||||||||
Amortization of prior service cost (credit) | (1,359 | ) | 21 | 107 | |||||||||||||||||||||
Recognized net actuarial loss | 360 | 530 | 36 | ||||||||||||||||||||||
Net other postretirement benefits expense | $ | 2,434 | $ | 4,956 | $ | 4,439 | |||||||||||||||||||
Data relating to the funding position of the defined benefit plans were as follows: | |||||||||||||||||||||||||
Pension Benefits | Other | ||||||||||||||||||||||||
Postretirement Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 1,644,567 | $ | 1,496,490 | $ | 74,966 | $ | 90,104 | |||||||||||||||||
Service cost | 24,360 | 29,549 | 742 | 668 | |||||||||||||||||||||
Interest cost | 60,130 | 62,037 | 2,691 | 3,737 | |||||||||||||||||||||
Plan participants’ contributions | — | — | 3,069 | 3,765 | |||||||||||||||||||||
Amendments | — | — | — | (13,313 | ) | ||||||||||||||||||||
Actuarial (gain) loss | (184,181 | ) | 116,237 | (12,830 | ) | (182 | ) | ||||||||||||||||||
Settlements/curtailments | — | (320 | ) | — | — | ||||||||||||||||||||
Medicare Part D reimbursement | — | — | 509 | 918 | |||||||||||||||||||||
Benefits paid | (60,683 | ) | (59,426 | ) | (8,555 | ) | (10,731 | ) | |||||||||||||||||
Benefit obligation at end of year | 1,484,193 | 1,644,567 | 60,592 | 74,966 | |||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 1,408,771 | 1,117,972 | — | — | |||||||||||||||||||||
Actual return on plan assets | 150,795 | 143,430 | — | — | |||||||||||||||||||||
Employer contributions | 7,801 | 207,115 | 4,977 | 6,048 | |||||||||||||||||||||
Plan participants’ contributions | — | — | 3,069 | 3,765 | |||||||||||||||||||||
Medicare Part D reimbursement | — | — | 509 | 918 | |||||||||||||||||||||
Settlements | — | (320 | ) | — | — | ||||||||||||||||||||
Benefits and other payments | (60,683 | ) | (59,426 | ) | (8,555 | ) | (10,731 | ) | |||||||||||||||||
Fair value of plan assets at end of year | 1,506,684 | 1,408,771 | — | — | |||||||||||||||||||||
Funded status | $ | 22,491 | $ | (235,796 | ) | $ | (60,592 | ) | $ | (74,966 | ) | ||||||||||||||
Assets and liabilities recognized in the consolidated balance sheet were: | |||||||||||||||||||||||||
Net prepaid asset | $ | 139,576 | $ | — | $ | — | $ | — | |||||||||||||||||
Accrued liabilities | (117,085 | ) | (235,796 | ) | (60,592 | ) | (74,966 | ) | |||||||||||||||||
Amounts recognized in accumulated other comprehensive income (“AOCI”) were: | |||||||||||||||||||||||||
Net loss (gain) | $ | 191,386 | $ | 480,084 | $ | (1,056 | ) | $ | 12,134 | ||||||||||||||||
Net prior service cost | (16,899 | ) | (23,455 | ) | (11,814 | ) | (13,173 | ) | |||||||||||||||||
Pre-tax adjustment to AOCI | 174,487 | 456,629 | (12,870 | ) | (1,039 | ) | |||||||||||||||||||
Taxes. | (68,486 | ) | (179,227 | ) | 5,051 | 408 | |||||||||||||||||||
Net adjustment to AOCI. | $ | 106,001 | $ | 277,402 | $ | (7,819 | ) | $ | (631 | ) | |||||||||||||||
The Company has an unfunded supplemental pension plan for certain key executives. The projected benefit obligation and accumulated benefit obligation included in the preceding data related to such plan were $117,085,000 as of December 31, 2013 and $130,745,000 as of December 31, 2012. | |||||||||||||||||||||||||
The accumulated benefit obligation for all defined benefit pension plans was $1,460,498,000 and $1,618,119,000 at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||
GAAP requires an employer to recognize in its balance sheet as an asset or liability the overfunded or underfunded status of a defined benefit postretirement plan, measured as the difference between the fair value of plan assets and the benefit obligation. For a pension plan, the benefit obligation is the projected benefit obligation; for any other postretirement benefit plan, such as a retiree health care plan, the benefit obligation is the accumulated postretirement benefit obligation. Gains or losses and prior service costs or credits that arise during the period, but are not included as components of net periodic benefit expense, are recognized as a component of other comprehensive income. As indicated in the preceding table, as of December 31, 2013 the Company recorded a minimum liability adjustment of $161,617,000 ($174,487,000 related to pension plans and $(12,870,000) related to other postretirement benefits) with a corresponding reduction of shareholders’ equity, net of applicable deferred taxes, of $98,182,000. In aggregate, the benefit plans realized a net gain during 2013 that resulted from actual experience differing from the plan assumptions utilized and from changes in actuarial assumptions. The main factors contributing to that gain were actual investment returns from assets in the qualified defined benefit pension plan that exceeded expected returns and from an increase in the discount rate used in the measurement of the benefit obligations to 4.75% at December 31, 2013 from 3.75% at December 31, 2012. As a result, the Company decreased its minimum liability adjustment from that which was recorded at December 31, 2012 by $293,973,000 with a corresponding increase to shareholders’ equity that, net of applicable deferred taxes, was $178,589,000. The table below reflects the changes in plan assets and benefit obligations recognized in other comprehensive income related to the Company’s postretirement benefit plans. | |||||||||||||||||||||||||
Pension Plans | Other | Total | |||||||||||||||||||||||
Postretirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Net gain | $ | (247,622 | ) | $ | (12,830 | ) | $ | (260,452 | ) | ||||||||||||||||
Amortization of prior service credit | 6,556 | 1,359 | 7,915 | ||||||||||||||||||||||
Amortization of loss | (41,076 | ) | (360 | ) | (41,436 | ) | |||||||||||||||||||
Total recognized in other comprehensive income, pre-tax | $ | (282,142 | ) | $ | (11,831 | ) | $ | (293,973 | ) | ||||||||||||||||
2012 | |||||||||||||||||||||||||
Net loss (gain) | $ | 43,318 | $ | (182 | ) | $ | 43,136 | ||||||||||||||||||
Prior service credit | — | (13,313 | ) | (13,313 | ) | ||||||||||||||||||||
Amortization of prior service (cost) credit | 6,559 | (21 | ) | 6,538 | |||||||||||||||||||||
Amortization of loss | (37,386 | ) | (530 | ) | (37,916 | ) | |||||||||||||||||||
Total recognized in other comprehensive income, pre-tax | $ | 12,491 | $ | (14,046 | ) | $ | (1,555 | ) | |||||||||||||||||
The following table reflects the amortization of amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit expense during 2014: | |||||||||||||||||||||||||
Pension Plans | Other | ||||||||||||||||||||||||
Postretirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Amortization of net prior service credit | $ | (6,552 | ) | $ | (1,359 | ) | |||||||||||||||||||
Amortization of net loss | 13,460 | — | |||||||||||||||||||||||
The Company also provides a qualified defined contribution pension plan to eligible employees who were not participants in the defined benefit pension plan as of December 31, 2005 and to other employees who have elected to participate in the defined contribution plan. The Company makes contributions to the defined contribution plan each year in an amount that is based on an individual participant’s total compensation (generally defined as total wages, incentive compensation, commissions and bonuses) and years of service. Participants do not contribute to the defined contribution pension plan. Pension expense recorded in 2013, 2012 and 2011 associated with the defined contribution pension plan was approximately $21 million, $17 million and $13 million, respectively. | |||||||||||||||||||||||||
Assumptions | |||||||||||||||||||||||||
The assumed weighted-average rates used to determine benefit obligations at December 31 were: | |||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||
Benefits | Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Discount rate | 4.75 | % | 3.75 | % | 4.75 | % | 3.75 | % | |||||||||||||||||
Rate of increase in future compensation levels | 4.42 | % | 4.5 | % | — | — | |||||||||||||||||||
The assumed weighted-average rates used to determine net benefit expense for the years ended December 31 were: | |||||||||||||||||||||||||
Pension Benefits | Other | ||||||||||||||||||||||||
Postretirement Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Discount rate | 3.75 | % | 4.25 | % | 5.25 | % | 3.75 | % | 4.25 | % | 5.25 | % | |||||||||||||
Long-term rate of return on plan assets | 6.5 | % | 6.5 | % | 6.5 | % | — | — | — | ||||||||||||||||
Rate of increase in future compensation levels | 4.5 | % | 4.5 | % | 4.5 | % | — | — | — | ||||||||||||||||
The expected long-term rate of return assumption as of each measurement date was developed through analysis of historical market returns, current market conditions, anticipated future asset allocations, the funds’ past experience, and expectations on potential future market returns. The expected rate of return assumption represents a long-term average view of the performance of the plan assets, a return that may or may not be achieved during any one calendar year. | |||||||||||||||||||||||||
For measurement of other postretirement benefits, a 7.50% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2014. The rate was assumed to decrease to 5.0% over 30 years. A one-percentage point change in assumed health care cost trend rates would have had the following effects: | |||||||||||||||||||||||||
1% | -1% | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Increase (decrease) in: | |||||||||||||||||||||||||
Service and interest cost | $ | 100 | $ | (91 | ) | ||||||||||||||||||||
Accumulated postretirement benefit obligation | 2,147 | (1,947 | ) | ||||||||||||||||||||||
Plan Assets | |||||||||||||||||||||||||
The Company’s policy is to invest the pension plan assets in a prudent manner for the purpose of providing benefit payments to participants and mitigating reasonable expenses of administration. The Company’s investment strategy is designed to provide a total return that, over the long-term, places a strong emphasis on the preservation of capital. The strategy attempts to maximize investment returns on assets at a level of risk deemed appropriate by the Company while complying with applicable regulations and laws. The investment strategy utilizes asset diversification as a principal determinant for establishing an appropriate risk profile while emphasizing total return realized from capital appreciation, dividends and interest income. The target allocations for plan assets are generally 45 to 80 percent equity securities, 5 to 40 percent debt securities, and 3 to 30 percent money-market funds/cash equivalents and other investments, although holdings could be more or less than these general guidelines based on market conditions at the time and actions taken or recommended by the investment managers providing advice to the Company. Equity securities include investments in large-cap and mid-cap companies located in the United States and equity mutual funds with domestic and international investments, and, to a lesser extent, direct investments in foreign-based companies. Debt securities include corporate bonds of companies from diversified industries, mortgage-backed securities guaranteed by government agencies, U.S. Treasury securities, and mutual funds that invest in debt securities. Additionally, the Company’s defined benefit pension plan held $168,040,000 (11.2% of total assets) of real estate, private equity and other investments at December 31, 2013. Returns on invested assets are periodically compared with target market indices for each asset type to aid management in evaluating such returns. Furthermore, management regularly reviews the investment policy and may, if deemed appropriate, make changes to the target allocations noted above. | |||||||||||||||||||||||||
The fair values of the Company’s pension plan assets at December 31, 2013, by asset category, were as follows: | |||||||||||||||||||||||||
Fair Value Measurement of Plan Assets At December 31, 2013 | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||||||||||
for Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Asset category: | |||||||||||||||||||||||||
Money-market funds | $ | 37,952 | $ | 37,952 | $ | — | $ | — | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||
M&T | 142,955 | 142,955 | — | — | |||||||||||||||||||||
Domestic(a) | 271,203 | 271,203 | — | — | |||||||||||||||||||||
International | 24,053 | 24,053 | — | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic | 194,099 | 194,099 | — | — | |||||||||||||||||||||
International | 413,685 | 413,685 | — | — | |||||||||||||||||||||
1,045,995 | 1,045,995 | — | — | ||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
Corporate(b) | 63,196 | — | 63,196 | — | |||||||||||||||||||||
Government | 75,043 | — | 75,043 | — | |||||||||||||||||||||
International | 2,443 | — | 2,443 | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic(c) | 68,280 | 68,280 | — | — | |||||||||||||||||||||
International | 43,742 | 43,742 | — | — | |||||||||||||||||||||
252,704 | 112,022 | 140,682 | — | ||||||||||||||||||||||
Other: | |||||||||||||||||||||||||
Diversified mutual fund | 93,055 | 93,055 | — | — | |||||||||||||||||||||
Private real estate | 3,123 | — | — | 3,123 | |||||||||||||||||||||
Private equity | 6,199 | — | — | 6,199 | |||||||||||||||||||||
Hedge funds | 65,663 | 41,489 | — | 24,174 | |||||||||||||||||||||
168,040 | 134,544 | — | 33,496 | ||||||||||||||||||||||
Total(d) | $ | 1,504,691 | $ | 1,330,513 | $ | 140,682 | $ | 33,496 | |||||||||||||||||
The fair values of the Company’s pension plan assets at December 31, 2012, by asset category, were as follows: | |||||||||||||||||||||||||
Fair Value Measurement of Plan Assets At December 31, 2012 | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||||||||||
for Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Asset category: | |||||||||||||||||||||||||
Money-market funds | $ | 46,657 | $ | 46,657 | $ | — | $ | — | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||
M&T | 120,914 | 120,914 | — | — | |||||||||||||||||||||
Domestic(a) | 147,382 | 147,382 | — | — | |||||||||||||||||||||
International | 8,561 | 8,561 | — | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic | 188,950 | 188,950 | — | — | |||||||||||||||||||||
International | 208,696 | 208,696 | — | — | |||||||||||||||||||||
674,503 | 674,503 | — | — | ||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
Corporate(b) | 307,712 | — | 307,712 | — | |||||||||||||||||||||
Government | 141,224 | — | 141,224 | — | |||||||||||||||||||||
International | 10,230 | — | 10,230 | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic(c) | 107,576 | 107,576 | — | — | |||||||||||||||||||||
International | 54,362 | 54,362 | — | — | |||||||||||||||||||||
621,104 | 161,938 | 459,166 | — | ||||||||||||||||||||||
Other: | |||||||||||||||||||||||||
Diversified mutual fund | 10,415 | 10,415 | — | — | |||||||||||||||||||||
Private real estate | 4,603 | — | — | 4,603 | |||||||||||||||||||||
Private equity | 5,347 | — | — | 5,347 | |||||||||||||||||||||
Hedge funds | 41,509 | 10,000 | — | 31,509 | |||||||||||||||||||||
61,874 | 20,415 | — | 41,459 | ||||||||||||||||||||||
Total(d) | $ | 1,404,138 | $ | 903,513 | $ | 459,166 | $ | 41,459 | |||||||||||||||||
(a) | This category is comprised of equities of companies primarily within the mid-cap and large-cap sector of the U.S. economy and range across diverse industries. | ||||||||||||||||||||||||
(b) | This category represents investment grade bonds of U.S. issuers from diverse industries. | ||||||||||||||||||||||||
(c) | Approximately 35% of the mutual funds were invested in investment grade bonds of U.S. issuers and 65% in high-yielding bonds at December 31, 2013. Approximately 40% of the mutual funds were invested in investment grade bonds of U.S. issuers and 60% in high-yielding bonds at December 31, 2012. The holdings within the funds are spread across diverse industries. | ||||||||||||||||||||||||
(d) | Excludes dividends and interest receivable totaling $1,993,000 and $4,633,000 at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||
Pension plan assets included common stock of M&T with a fair value of $142,955,000 (9.5% of total plan assets) at December 31, 2013 and $120,914,000 (8.6% of total plan assets) at December 31, 2012. No investment in securities of a non-U.S. Government or government agency issuer exceeded ten percent of plan assets at December 31, 2013. Assets subject to Level 3 valuations did not constitute a significant portion of plan assets at December 31, 2013 or December 31, 2012. | |||||||||||||||||||||||||
The changes in Level 3 pension plan assets measured at estimated fair value on a recurring basis during the year ended December 31, 2013 were as follows: | |||||||||||||||||||||||||
Balance – | Sales/ | Total | Balance – | ||||||||||||||||||||||
January 1, | Purchases | Realized/ | December 31, | ||||||||||||||||||||||
2013 | Unrealized | 2013 | |||||||||||||||||||||||
Gains (Losses) | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Private real estate | $ | 4,603 | $ | (308 | ) | $ | (1,172 | ) | $ | 3,123 | |||||||||||||||
Private equity | 5,347 | 165 | 687 | 6,199 | |||||||||||||||||||||
Hedge funds | 31,509 | (9,873 | ) | 2,538 | 24,174 | ||||||||||||||||||||
Total | $ | 41,459 | $ | (10,016 | ) | $ | 2,053 | $ | 33,496 | ||||||||||||||||
The Company makes contributions to its funded qualified defined benefit pension plan as required by government regulation or as deemed appropriate by management after considering factors such as the fair value of plan assets, expected returns on such assets, and the present value of benefit obligations of the plan. Subject to the impact of actual events and circumstances that may occur in 2014, the Company may make contributions to the qualified defined benefit pension plan in 2014, but the amount of any such contribution has not yet been determined. The Company made cash contributions of $200 million and $70 million to the qualified defined benefit pension plan in 2012 and 2011, respectively. The Company did not make any contributions to the plan in 2013. The Company regularly funds the payment of benefit obligations for the supplemental defined benefit pension and postretirement benefit plans because such plans do not hold assets for investment. Payments made by the Company for supplemental pension benefits were $7,801,000 and $7,115,000 in 2013 and 2012, respectively. Payments made by the Company for postretirement benefits were $4,977,000 and $6,048,000 in 2013 and 2012, respectively. Payments for supplemental pension and other postretirement benefits for 2014 are not expected to differ from those made in 2013 by an amount that will be material to the Company’s consolidated financial position. | |||||||||||||||||||||||||
Estimated benefits expected to be paid in future years related to the Company’s defined benefit pension and other postretirement benefits plans are as follows: | |||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||
Benefits | Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||
2014 | $ | 65,970 | $ | 6,780 | |||||||||||||||||||||
2015 | 67,993 | 6,503 | |||||||||||||||||||||||
2016 | 73,628 | 6,283 | |||||||||||||||||||||||
2017 | 77,180 | 5,995 | |||||||||||||||||||||||
2018 | 80,380 | 5,741 | |||||||||||||||||||||||
2019 through 2023 | 461,397 | 25,172 | |||||||||||||||||||||||
The Company has a retirement savings plan (“RSP”) that is a defined contribution plan in which eligible employees of the Company may defer up to 50% of qualified compensation via contributions to the plan. The Company makes an employer matching contribution in an amount equal to 75% of an employee’s contribution, up to 4.5% of the employee’s qualified compensation. Employees’ accounts, including employee contributions, employer matching contributions and accumulated earnings thereon, are at all times fully vested and nonforfeitable. Employee benefits expense resulting from the Company’s contributions to the RSP totaled $31,797,000, $31,305,000 and $27,738,000 in 2013, 2012 and 2011, respectively. |
Income_taxes
Income taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income taxes | ' | ||||||||||||
13. Income taxes | |||||||||||||
The components of income tax expense (benefit) were as follows: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Current | |||||||||||||
Federal | $ | 371,249 | $ | 309,156 | $ | 277,631 | |||||||
State and city | 68,035 | 82,014 | 53,566 | ||||||||||
Total current | 439,284 | 391,170 | 331,197 | ||||||||||
Deferred | |||||||||||||
Federal | 106,537 | 117,229 | 34,325 | ||||||||||
State and city | 33,248 | 14,629 | (401 | ) | |||||||||
Total deferred | 139,785 | 131,858 | 33,924 | ||||||||||
Total income taxes applicable to pre-tax income | $ | 579,069 | $ | 523,028 | $ | 365,121 | |||||||
The Company files a consolidated federal income tax return reflecting taxable income earned by all domestic subsidiaries. In prior years, applicable federal tax law allowed certain financial institutions the option of deducting as bad debt expense for tax purposes amounts in excess of actual losses. In accordance with GAAP, such financial institutions were not required to provide deferred income taxes on such excess. Recapture of the excess tax bad debt reserve established under the previously allowed method will result in taxable income if M&T Bank fails to maintain bank status as defined in the Internal Revenue Code or charges are made to the reserve for other than bad debt losses. At December 31, 2013, M&T Bank’s tax bad debt reserve for which no federal income taxes have been provided was $79,121,000. No actions are planned that would cause this reserve to become wholly or partially taxable. | |||||||||||||
Income taxes attributable to gains or losses on bank investment securities were expenses of $18,313,000 in 2013 and $28,712,000 in 2011 and a benefit of $18,766,000 in 2012. No alternative minimum tax expense was recognized in 2013, 2012 or 2011. | |||||||||||||
Total income taxes differed from the amount computed by applying the statutory federal income tax rate to pre-tax income as follows: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Income taxes at statutory federal income tax rate | $ | 601,142 | $ | 543,384 | $ | 428,610 | |||||||
Increase (decrease) in taxes: | |||||||||||||
Tax-exempt income | (34,747 | ) | (33,890 | ) | (33,799 | ) | |||||||
State and city income taxes, net of federal income tax effect | 65,834 | 62,818 | 34,557 | ||||||||||
Low income housing and other credits | (49,206 | ) | (42,074 | ) | (40,763 | ) | |||||||
Non-taxable gain on acquisition | — | — | (22,725 | ) | |||||||||
Other | (3,954 | ) | (7,210 | ) | (759 | ) | |||||||
$ | 579,069 | $ | 523,028 | $ | 365,121 | ||||||||
Deferred tax assets (liabilities) were comprised of the following at December 31: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Losses on loans and other assets | $ | 645,713 | $ | 809,033 | $ | 896,219 | |||||||
Postretirement and other employee benefits | 30,023 | 34,517 | 39,992 | ||||||||||
Incentive compensation plans | 37,772 | 50,067 | 49,183 | ||||||||||
Interest on loans | 100,725 | 72,278 | 46,965 | ||||||||||
Retirement benefits | — | 91,980 | 147,997 | ||||||||||
Stock-based compensation | 63,101 | 69,874 | 78,014 | ||||||||||
Unrealized investment losses | — | — | 50,528 | ||||||||||
Depreciation and amortization | 1,404 | 12,130 | 9,563 | ||||||||||
Other | 121,561 | 103,027 | 99,012 | ||||||||||
Gross deferred tax assets | 1,000,299 | 1,242,906 | 1,417,473 | ||||||||||
Leasing transactions | (284,370 | ) | (291,524 | ) | (294,150 | ) | |||||||
Unrealized investment gains | (21,779 | ) | (23,574 | ) | — | ||||||||
Capitalized servicing rights | (46,041 | ) | (20,348 | ) | (17,603 | ) | |||||||
Interest on subordinated note exchange | (6,075 | ) | (8,794 | ) | (11,275 | ) | |||||||
Retirement benefits | (9,397 | ) | — | — | |||||||||
Other | (49,450 | ) | (61,410 | ) | (48,803 | ) | |||||||
Gross deferred tax liabilities | (417,112 | ) | (405,650 | ) | (371,831 | ) | |||||||
Net deferred tax asset | $ | 583,187 | $ | 837,256 | $ | 1,045,642 | |||||||
The Company believes that it is more likely than not that the deferred tax assets will be realized through taxable earnings or alternative tax strategies. | |||||||||||||
The income tax credits shown in the statement of income of M&T in note 25 arise principally from operating losses before dividends from subsidiaries. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits follows: | |||||||||||||
Federal, | Accrued | Unrecognized | |||||||||||
State and | Interest | Income Tax | |||||||||||
Local Tax | Benefits | ||||||||||||
(In thousands) | |||||||||||||
Gross unrecognized tax benefits at January 1, 2011 | $ | 24,853 | $ | 20,696 | $ | 45,549 | |||||||
Increases in unrecognized tax benefits as a result of tax positions taken during 2011 | 4,659 | — | 4,659 | ||||||||||
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | (9,742 | ) | (5,497 | ) | (15,239 | ) | |||||||
Decreases in unrecognized tax benefits as a result of tax positions taken in prior years | — | (1,645 | ) | (1,645 | ) | ||||||||
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | (8,471 | ) | (8,201 | ) | (16,672 | ) | |||||||
Unrecognized tax benefits acquired in a business combination | 7,034 | 3,924 | 10,958 | ||||||||||
Gross unrecognized tax benefits at December 31, 2011 | 18,333 | 9,277 | 27,610 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken during 2012 | 860 | — | 860 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken in prior years | — | 4,514 | 4,514 | ||||||||||
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | (1,002 | ) | — | (1,002 | ) | ||||||||
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | (1,643 | ) | (1,412 | ) | (3,055 | ) | |||||||
Gross unrecognized tax benefits at December 31, 2012 | 16,548 | 12,379 | 28,927 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken during 2013 | 2,267 | — | 2,267 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken in prior years | — | 4,429 | 4,429 | ||||||||||
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | (1,854 | ) | (487 | ) | (2,341 | ) | |||||||
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | (2,350 | ) | (1,625 | ) | (3,975 | ) | |||||||
Gross unrecognized tax benefits at December 31, 2013 | $ | 14,611 | $ | 14,696 | 29,307 | ||||||||
Less: Federal, state and local income tax benefits | (9,611 | ) | |||||||||||
Net unrecognized tax benefits at December 31, 2013 that, if recognized, would impact the effective income tax rate | $ | 19,696 | |||||||||||
The Company’s policy is to recognize interest and penalties, if any, related to unrecognized tax benefits in income taxes in the consolidated statement of income. The balance of accrued interest at December 31, 2013 is included in the table above. The Company’s federal, state and local income tax returns are routinely subject to examinations from various governmental taxing authorities. Such examinations may result in challenges to the tax return treatment applied by the Company to specific transactions. Management believes that the assumptions and judgment used to record tax-related assets or liabilities have been appropriate. Should determinations rendered by tax authorities ultimately indicate that management’s assumptions were inappropriate, the result and adjustments required could have a material effect on the Company’s results of operations. Under statute, the Company’s federal income tax returns for the years 2010, 2011 and 2012 could be adjusted by the Internal Revenue Service, although examinations for those tax years have been concluded. The Company also files income tax returns in over forty states and numerous local jurisdictions. Substantially all material state and local matters have been concluded for years through 2010. It is not reasonably possible to estimate when examinations for any subsequent years will be completed. |
Earnings_per_common_share
Earnings per common share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings per common share | ' | ||||||||||||
14. Earnings per common share | |||||||||||||
The computations of basic earnings per common share follow: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share) | |||||||||||||
Income available to common shareholders: | |||||||||||||
Net income | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||
Less: Preferred stock dividends(a) | (54,120 | ) | (53,450 | ) | (45,839 | ) | |||||||
Amortization of preferred stock discount(a) | (7,942 | ) | (8,026 | ) | (20,018 | ) | |||||||
Net income available to common equity | 1,076,418 | 968,022 | 793,622 | ||||||||||
Less: Income attributable to unvested stock-based compensation awards | (13,989 | ) | (14,632 | ) | (11,879 | ) | |||||||
Net income available to common shareholders | $ | 1,062,429 | $ | 953,390 | $ | 781,743 | |||||||
Weighted-average shares outstanding: | |||||||||||||
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 130,354 | 127,793 | 124,524 | ||||||||||
Less: Unvested stock-based compensation awards | (1,700 | ) | (1,929 | ) | (1,861 | ) | |||||||
Weighted-average shares outstanding | 128,654 | 125,864 | 122,663 | ||||||||||
Basic earnings per common share | $ | 8.26 | $ | 7.57 | $ | 6.37 | |||||||
(a) | Including impact of not as yet declared cumulative dividends. | ||||||||||||
The computations of diluted earnings per common share follow: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share) | |||||||||||||
Net income available to common equity | $ | 1,076,418 | $ | 968,022 | $ | 793,622 | |||||||
Less: Income attributable to unvested stock-based compensation awards | (13,922 | ) | (14,593 | ) | (11,857 | ) | |||||||
Net income available to common shareholders | $ | 1,062,496 | $ | 953,429 | $ | 781,765 | |||||||
Adjusted weighted-average shares outstanding: | |||||||||||||
Common and unvested stock-based compensation awards | 130,354 | 127,793 | 124,524 | ||||||||||
Less: Unvested stock-based compensation awards | (1,700 | ) | (1,929 | ) | (1,861 | ) | |||||||
Plus: Incremental shares from assumed conversion of stock-based compensation awards | 949 | 541 | 416 | ||||||||||
Adjusted weighted-average shares outstanding | 129,603 | 126,405 | 123,079 | ||||||||||
Diluted earnings per common share | $ | 8.2 | $ | 7.54 | $ | 6.35 | |||||||
GAAP defines unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities that shall be included in the computation of earnings per common share pursuant to the two-class method. The Company has issued stock-based compensation awards in the form of restricted stock and restricted stock units, which, in accordance with GAAP, are considered participating securities. | |||||||||||||
Stock-based compensation awards and warrants to purchase common stock of M&T representing approximately 3,847,000, 8,905,000 and 11,268,000 common shares during 2013, 2012 and 2011, respectively, were not included in the computations of diluted earnings per common share because the effect on those years would have been antidilutive. |
Comprehensive_income
Comprehensive income | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||||||
Comprehensive income | ' | ||||||||||||||||||||||||||||
15. Comprehensive income | |||||||||||||||||||||||||||||
The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income. | |||||||||||||||||||||||||||||
Investment Securities | Defined | Other | Total | Income | Net | ||||||||||||||||||||||||
Benefit | Amount | Tax | |||||||||||||||||||||||||||
With | All | Plans | Before Tax | ||||||||||||||||||||||||||
OTTI | Other | ||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Balance — January 1, 2013 | $ | (91,835 | ) | 152,199 | (455,590 | ) | (431 | ) | $ | (395,657 | ) | 155,393 | $ | (240,264 | ) | ||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||||||||
Unrealized holding gains (losses), net | 77,794 | (129,628 | ) | — | — | (51,834 | ) | 20,311 | (31,523 | ) | |||||||||||||||||||
Foreign currency translation adjustment | — | — | — | 546 | 546 | (165 | ) | 381 | |||||||||||||||||||||
Current year pension gains (losses) | — | — | 260,452 | — | 260,452 | (102,227 | ) | 158,225 | |||||||||||||||||||||
Total other comprehensive income before reclassifications | 77,794 | (129,628 | ) | 260,452 | 546 | 209,164 | (82,081 | ) | 127,083 | ||||||||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||||||||||||
comprehensive income that | |||||||||||||||||||||||||||||
(increase) decrease net income: | |||||||||||||||||||||||||||||
Accretion of unrealized holding losses on held-to-maturity (“HTM”) securities | 279 | 4,008 | — | — | 4,287 | (a) | (1,683 | ) | 2,604 | ||||||||||||||||||||
OTTI charges recognized in net income | 9,800 | — | — | — | 9,800 | (b) | (3,847 | ) | 5,953 | ||||||||||||||||||||
Losses (gains) realized in net income | 41,217 | (8,129 | ) | — | — | 33,088 | (c) | (12,987 | ) | 20,101 | |||||||||||||||||||
Amortization of prior service credit | — | — | (7,915 | ) | — | (7,915 | )(e) | 3,107 | (4,808 | ) | |||||||||||||||||||
Amortization of actuarial losses | — | — | 41,436 | — | 41,436 | (e) | (16,264 | ) | 25,172 | ||||||||||||||||||||
Total reclassifications | 51,296 | (4,121 | ) | 33,521 | — | 80,696 | (31,674 | ) | 49,022 | ||||||||||||||||||||
Total gain (loss) during the | 129,090 | (133,749 | ) | 293,973 | 546 | 289,860 | (113,755 | ) | 176,105 | ||||||||||||||||||||
period | |||||||||||||||||||||||||||||
Balance — December 31, 2013 | $ | 37,255 | 18,450 | (161,617 | ) | 115 | $ | (105,797 | ) | 41,638 | $ | (64,159 | ) | ||||||||||||||||
Investment Securities | Defined | Other | Total | Income | Net | ||||||||||||||||||||||||
Benefit | Amount | Tax | |||||||||||||||||||||||||||
With | All | Plans | Before Tax | ||||||||||||||||||||||||||
OTTI | Other | ||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Balance — January 1, 2012 | $ | (138,319 | ) | 9,757 | (457,145 | ) | (1,062 | ) | $ | (586,769 | ) | 230,328 | $ | (356,441 | ) | ||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||||||||
Unrealized holding gains (losses), net | (2,998 | ) | 137,921 | — | — | 134,923 | (52,905 | ) | 82,018 | ||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | 809 | 809 | (290 | ) | 519 | |||||||||||||||||||||
Current year pension | — | — | (29,823 | ) | — | (29,823 | ) | 11,705 | (18,118 | ) | |||||||||||||||||||
gains (losses) | |||||||||||||||||||||||||||||
Total other comprehensive income before reclassifications | (2,998 | ) | 137,921 | (29,823 | ) | 809 | 105,909 | (41,490 | ) | 64,419 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||||||||||||||||||||||||
Accretion of unrealized holding losses on HTM securities | 1,660 | 4,530 | — | — | 6,190 | (a) | (2,430 | ) | 3,760 | ||||||||||||||||||||
OTTI charges recognized in net income | 47,822 | — | — | — | 47,822 | (b) | (18,770 | ) | 29,052 | ||||||||||||||||||||
Losses (gains) realized in net income | — | (9 | ) | — | — | (9 | )(c) | 4 | (5 | ) | |||||||||||||||||||
Amortization of gains on terminated cash flow hedges | — | — | — | (178 | ) | (178 | ) | 66 | (112 | ) | |||||||||||||||||||
Amortization of prior service credit | — | — | (6,538 | ) | — | (6,538 | )(e) | 2,566 | (3,972 | ) | |||||||||||||||||||
Amortization of actuarial losses | — | — | 37,916 | — | 37,916 | (e) | (14,881 | ) | 23,035 | ||||||||||||||||||||
Total reclassifications | 49,482 | 4,521 | 31,378 | (178 | ) | 85,203 | (33,445 | ) | 51,758 | ||||||||||||||||||||
Total gain (loss) during the period | 46,484 | 142,442 | 1,555 | 631 | 191,112 | (74,935 | ) | 116,177 | |||||||||||||||||||||
Balance — December 31, 2012 | $ | (91,835 | ) | 152,199 | (455,590 | ) | (431 | ) | $ | (395,657 | ) | 155,393 | $ | (240,264 | ) | ||||||||||||||
Investment Securities | Defined | Other | Total | Income | Net | ||||||||||||||||||||||||
Benefit | Amount | Tax | |||||||||||||||||||||||||||
With | All | Plans | Before Tax | ||||||||||||||||||||||||||
OTTI | Other | ||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Balance — January 1, 2011 | $ | (143,139 | ) | 3,860 | (198,999 | ) | 626 | $ | (337,652 | ) | 132,432 | $ | (205,220 | ) | |||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||||||||
Unrealized holding gains (losses), net | (68,946 | ) | 145,522 | — | — | 76,576 | (29,786 | ) | 46,790 | ||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | (1,240 | ) | (1,240 | ) | 437 | (803 | ) | |||||||||||||||||||
Current year pension | — | — | (272,260 | ) | — | (272,260 | ) | 106,862 | (165,398 | ) | |||||||||||||||||||
gains (losses) | |||||||||||||||||||||||||||||
Total other comprehensive income before reclassifications | (68,946 | ) | 145,522 | (272,260 | ) | (1,240 | ) | (196,924 | ) | 77,513 | (119,411 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||||||||||||||||||||||||
Accretion of unrealized holding losses on HTM securities | 545 | 6,490 | — | — | 7,035 | (a) | (2,762 | ) | 4,273 | ||||||||||||||||||||
OTTI charges recognized in net income | 77,035 | — | — | — | 77,035 | (b) | (30,235 | ) | 46,800 | ||||||||||||||||||||
Losses (gains) realized in net income | (3,814 | ) | (146,115 | ) | — | — | (149,929 | )(c) | 58,753 | (91,176 | ) | ||||||||||||||||||
Amortization of gains on terminated cash flow hedges | — | — | — | (448 | ) | (448 | )(d) | 167 | (281 | ) | |||||||||||||||||||
Amortization of prior service credit | — | — | (6,452 | ) | — | (6,452 | )(e) | 2,532 | (3,920 | ) | |||||||||||||||||||
Amortization of actuarial losses | — | — | 20,566 | — | 20,566 | (e) | (8,072 | ) | 12,494 | ||||||||||||||||||||
Total reclassifications | 73,766 | (139,625 | ) | 14,114 | (448 | ) | (52,193 | ) | 20,383 | (31,810 | ) | ||||||||||||||||||
Total gain (loss) during the period | 4,820 | 5,897 | (258,146 | ) | (1,688 | ) | (249,117 | ) | 97,896 | (151,221 | ) | ||||||||||||||||||
Balance — December 31, 2011 | $ | (138,319 | ) | 9,757 | (457,145 | ) | (1,062 | ) | $ | (586,769 | ) | 230,328 | $ | (356,441 | ) | ||||||||||||||
(a) | Included in interest income. | ||||||||||||||||||||||||||||
(b) | Included in OTTI losses recognized in earnings. | ||||||||||||||||||||||||||||
(c) | Included in gain (loss) on bank investment securities. | ||||||||||||||||||||||||||||
(d) | Included in interest expense. | ||||||||||||||||||||||||||||
(e) | Included in salaries and employee benefits expense. | ||||||||||||||||||||||||||||
Accumulated other comprehensive income (loss), net consisted of unrealized gains (losses) as follows: | |||||||||||||||||||||||||||||
Cash | Foreign | Defined | Total | ||||||||||||||||||||||||||
Flow | Currency | Benefit | |||||||||||||||||||||||||||
Investment Securities | Hedges | Translation | Plans | ||||||||||||||||||||||||||
With OTTI | All Other | Adjustment | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance at January 1, 2011 | $ | (87,053 | ) | $ | 2,332 | $ | 393 | $ | — | $ | (120,892 | ) | $ | (205,220 | ) | ||||||||||||||
Net gain (loss) during 2011 | 3,024 | 3,663 | (281 | ) | (803 | ) | (156,824 | ) | (151,221 | ) | |||||||||||||||||||
Balance at December 31, 2011 | (84,029 | ) | 5,995 | 112 | (803 | ) | (277,716 | ) | (356,441 | ) | |||||||||||||||||||
Net gain (loss) during 2012 | 28,239 | 86,586 | (112 | ) | 519 | 945 | 116,177 | ||||||||||||||||||||||
Balance at December 31, 2012 | (55,790 | ) | 92,581 | — | (284 | ) | (276,771 | ) | (240,264 | ) | |||||||||||||||||||
Net gain (loss) during 2013 | 78,422 | (81,287 | ) | — | 381 | 178,589 | 176,105 | ||||||||||||||||||||||
Balance at December 31, 2013 | $ | 22,632 | $ | 11,294 | $ | — | $ | 97 | $ | (98,182 | ) | $ | (64,159 | ) | |||||||||||||||
Other_income_and_other_expense
Other income and other expense | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Other income and other expense | ' | ||||||||||||
16. Other income and other expense | |||||||||||||
The following items, which exceeded 1% of total interest income and other income in the respective period, were included in either “other revenues from operations” or “other costs of operations” in the consolidated statement of income: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Other income: | |||||||||||||
Bank owned life insurance | $ | 56,120 | $ | 51,199 | $ | 50,776 | |||||||
Credit-related fee income | 72,271 | 68,596 | 73,886 | ||||||||||
Letter of credit fees | 59,889 | 58,496 | 56,247 | ||||||||||
Non-taxable gain from business combination | 64,930 | ||||||||||||
Gains from loan securitization transactions | 63,066 | ||||||||||||
Other expense: | |||||||||||||
Professional services | 335,794 | 248,544 | 222,122 | ||||||||||
Amortization of capitalized servicing rights | 65,354 | 59,555 | 55,859 | ||||||||||
Advertising and promotion | 56,597 | 52,388 | 58,312 | ||||||||||
Write-down of investment in Bayview Lending Group LLC (“BLG”) | 79,012 |
International_activities
International activities | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
International activities | ' |
17. International activities | |
The Company engages in certain international activities consisting largely of collecting Eurodollar deposits, engaging in foreign currency trading on behalf of customers, providing credit to support the international activities of domestic companies and holding certain loans to foreign borrowers. As a result of the Wilmington Trust acquisition, the Company offers certain trust-related services in Europe and the Cayman Islands. Revenues from providing such trust-related services were approximately $26 million in 2013, $24 million in 2012 and $15 million in 2011. Net assets identified with international activities amounted to $226 million and $179 million at December 31, 2013 and 2012, respectively. Such assets included $192 million and $149 million, respectively, of loans to foreign borrowers. Deposits at M&T Bank’s Cayman Islands office were $323 million and $1.0 billion at December 31, 2013 and 2012, respectively. The Company uses such deposits to facilitate customer demand and as an alternative to short-term borrowings when the costs of such deposits seem reasonable. |
Derivative_financial_instrumen
Derivative financial instruments | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Derivative financial instruments | ' | ||||||||||||||||||||||||
18. Derivative financial instruments | |||||||||||||||||||||||||
As part of managing interest rate risk, the Company enters into interest rate swap agreements to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate swap agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate swap agreements are generally entered into with counterparties that meet established credit standards and most contain master netting and collateral provisions protecting the at-risk party. Based on adherence to the Company’s credit standards and the presence of the netting and collateral provisions, the Company believes that the credit risk inherent in these contracts was not significant as of December 31, 2013. | |||||||||||||||||||||||||
The net effect of interest rate swap agreements was to increase net interest income by $41 million in 2013, $36 million in 2012 and $38 million in 2011. The average notional amounts of interest rate swap agreements impacting net interest income that were entered into for interest rate risk management purposes were $1.2 billion in 2013 and $900 million in each of 2012 and 2011. | |||||||||||||||||||||||||
Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows: | |||||||||||||||||||||||||
Notional | Average | Weighted-Average | Estimated Fair | ||||||||||||||||||||||
Amount | Maturity | Rate | Value Gain | ||||||||||||||||||||||
Fixed | Variable | ||||||||||||||||||||||||
(In thousands) | (In years) | (In thousands) | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Fixed rate long-term borrowings(a) | $ | 1,400,000 | 3.7 | 4.42 | % | 1.2 | % | $ | 102,875 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Fixed rate long-term borrowings(a) | $ | 900,000 | 4.4 | 6.07 | % | 1.85 | % | $ | 143,179 | ||||||||||||||||
(a) | Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate. | ||||||||||||||||||||||||
The notional amount of interest rate swap agreements entered into for risk management purposes that were outstanding at December 31, 2013 mature as follows: | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||
2016 | $ | 500,000 | |||||||||||||||||||||||
2017 | 400,000 | ||||||||||||||||||||||||
2018 | 500,000 | ||||||||||||||||||||||||
$ | 1,400,000 | ||||||||||||||||||||||||
The Company utilizes commitments to sell residential and commercial real estate loans to hedge the exposure to changes in the fair value of real estate loans held for sale. Such commitments have generally been designated as fair value hedges. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in fair value of certain commitments to originate real estate loans for sale. | |||||||||||||||||||||||||
Derivative financial instruments used for trading purposes included interest rate contracts, foreign exchange and other option contracts, foreign exchange forward and spot contracts, and financial futures. Interest rate contracts entered into for trading purposes had notional values of $17.4 billion and $15.5 billion at December 31, 2013 and 2012, respectively. The notional amounts of foreign currency and other option and futures contracts entered into for trading purposes aggregated $1.4 billion and $869 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows: | |||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
December 31 | December 31 | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Derivatives designated and qualifying as hedging instruments | |||||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Interest rate swap agreements(a) | $ | 102,875 | $ | 143,179 | $ | — | $ | — | |||||||||||||||||
Commitments to sell real estate loans(a) | 6,957 | 1,114 | 487 | 3,825 | |||||||||||||||||||||
109,832 | 144,293 | 487 | 3,825 | ||||||||||||||||||||||
Derivatives not designated and qualifying as hedging instruments | |||||||||||||||||||||||||
Mortgage-related commitments to originate real estate loans for sale(a) | 7,616 | 48,056 | 3,675 | 197 | |||||||||||||||||||||
Commitments to sell real estate loans(a) | 6,120 | 1,982 | 230 | 6,570 | |||||||||||||||||||||
Trading: | |||||||||||||||||||||||||
Interest rate contracts(b) | 274,864 | 399,963 | 234,455 | 365,616 | |||||||||||||||||||||
Foreign exchange and other option and futures contracts(b) | 15,831 | 8,725 | 15,342 | 8,658 | |||||||||||||||||||||
304,431 | 458,726 | 253,702 | 381,041 | ||||||||||||||||||||||
Total derivatives | $ | 414,263 | $ | 603,019 | $ | 254,189 | $ | 384,866 | |||||||||||||||||
(a) | Asset derivatives are reported in other assets and liability derivatives are reported in other liabilities. | ||||||||||||||||||||||||
(b) | Asset derivatives are reported in trading account assets and liability derivatives are reported in other liabilities. | ||||||||||||||||||||||||
Amount of Unrealized Gain (Loss) Recognized | |||||||||||||||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||||||||||||||
Derivative | Hedged Item | Derivative | Hedged Item | Derivative | Hedged Item | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Derivatives in fair value hedging relationships | |||||||||||||||||||||||||
Interest rate swap agreements: | |||||||||||||||||||||||||
Fixed rate long-term borrowings(a) | $ | (40,304 | ) | $ | 38,986 | $ | (4,123 | ) | $ | 3,724 | $ | 50,665 | $ | (47,916 | ) | ||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Trading: | |||||||||||||||||||||||||
Interest rate contracts(b) | $ | 9,824 | $ | 8,004 | $ | 6,130 | |||||||||||||||||||
Foreign exchange and other option and futures contracts(b) | (3,369 | ) | (3,970 | ) | (2,649 | ) | |||||||||||||||||||
Total | $ | 6,455 | $ | 4,034 | $ | 3,481 | |||||||||||||||||||
(a) | Reported as other revenues from operations. | ||||||||||||||||||||||||
(b) | Reported as trading account and foreign exchange gains. | ||||||||||||||||||||||||
In addition, the Company also has commitments to sell and commitments to originate residential and commercial real estate loans that are considered derivatives. The Company designates certain of the commitments to sell real estate loans as fair value hedges of real estate loans held for sale. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in the fair value of certain commitments to originate real estate loans for sale. As a result of these activities, net unrealized pre-tax gains related to hedged loans held for sale, commitments to originate loans for sale and commitments to sell loans were approximately $23 million and $89 million at December 31, 2013 and 2012, respectively. Changes in unrealized gains and losses are included in mortgage banking revenues and, in general, are realized in subsequent periods as the related loans are sold and commitments satisfied. | |||||||||||||||||||||||||
The Company does not offset derivative asset and liability positions in its consolidated financial statements. The Company’s exposure to credit risk by entering into derivative contracts is mitigated through master netting agreements and collateral posting requirements. Master netting agreements covering interest rate and foreign exchange contracts with the same party include a right to set-off that becomes enforceable in the event of default, early termination or under other specific conditions. | |||||||||||||||||||||||||
The aggregate fair value of derivative financial instruments in a liability position, which are subject to enforceable master netting arrangements, was $194 million and $374 million at December 31, 2013 and 2012, respectively. After consideration of such netting arrangements, the net liability positions with counterparties aggregated $107 million and $281 million at December 31, 2013 and 2012, respectively. The Company was required to post collateral relating to those positions of $95 million and $266 million at December 31, 2013 and 2012, respectively. Certain of the Company’s derivative financial instruments contain provisions that require the Company to maintain specific credit ratings from credit rating agencies to avoid higher collateral posting requirements. If the Company’s debt rating were to fall below specified ratings, the counterparties to the derivative financial instruments could demand immediate incremental collateralization on those instruments in a net liability position. The aggregate fair value of all derivative financial instruments with such credit risk-related contingent features in a net liability position on December 31, 2013 was $34 million, for which the Company had posted collateral of $23 million in the normal course of business. If the credit risk-related contingent features had been triggered on December 31, 2013, the maximum amount of additional collateral the Company would have been required to post with counterparties was $11 million. | |||||||||||||||||||||||||
The aggregate fair value of derivative financial instruments in an asset position, which are subject to enforceable master netting arrangements, was $183 million and $164 million at December 31, 2013 and 2012, respectively. After consideration of such netting arrangements, the net asset positions with counterparties aggregated $95 million and $71 million at December 31, 2013 and 2012, respectively. Counterparties posted collateral relating to those positions of $93 million and $69 million at December 31, 2013 and 2012, respectively. Trading account interest rate swap agreements entered into with customers are subject to the Company’s credit risk standards and often contain collateral provisions. |
Variable_interest_entities_and
Variable interest entities and asset securitizations | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Variable interest entities and asset securitizations | ' |
19. Variable interest entities and asset securitizations | |
During 2013, the Company securitized approximately $3.0 billion of one-to-four family residential mortgage loans in guaranteed mortgage securitizations with Ginnie Mae. Approximately $1.3 billion of such loans were formerly held in the Company’s loan portfolio, whereas the remaining loans were newly originated. The Company recognized pre-tax gains of $42 million related to loans previously held in portfolio, which have been recorded in “other revenues from operations,” and pre-tax gains of $28 million on newly originated loans, which have been reflected in “mortgage banking revenues.” As a result of the securitization structure, the Company does not have effective control over the underlying loans and expects no material credit-related losses on the retained securities as a result of the guarantees by Ginnie Mae. Additionally, in 2013 the Company securitized and sold approximately $1.4 billion of automobile loans that had been held in its loan portfolio. The Company recognized a gain of $21 million related to the sale, which has been recorded in “other revenues from operations.” The Company continues to service the automobile loans, but has no other financial interest in the securitization trust that the loans were sold into. The Company securitized loans to improve its regulatory capital ratios and strengthen its liquidity and risk profile as a result of changing regulatory requirements. | |
In accordance with GAAP, the Company determined that it was the primary beneficiary of a residential mortgage loan securitization trust considering its role as servicer and its retained subordinated interests in the trust. As a result, the Company has included the one-to-four family residential mortgage loans that were included in the trust in its consolidated financial statements. At December 31, 2013 and 2012, the carrying values of the loans in the securitization trust were $121 million and $151 million, respectively. The outstanding principal amount of mortgage-backed securities issued by the qualified special purpose trust that was held by parties unrelated to M&T at December 31, 2013 and 2012 was $18 million and $23 million, respectively. Because the transaction was non-recourse, the Company’s maximum exposure to loss as a result of its association with the trust at December 31, 2013 is limited to realizing the carrying value of the loans less the amount of the mortgage-backed securities held by third parties. | |
As described in note 9, M&T has issued junior subordinated debentures payable to various trusts that have issued Capital Securities. M&T owns the common securities of those trust entities. The Company is not considered to be the primary beneficiary of those entities and, accordingly, the trusts are not included in the Company’s consolidated financial statements. At December 31, 2013 and 2012, the Company included the Junior Subordinated Debentures as “long-term borrowings” in its consolidated balance sheet. The Company has recognized $34 million in other assets for its “investment” in the common securities of the trusts that will be concomitantly repaid to M&T by the respective trust from the proceeds of M&T’s repayment of the junior subordinated debentures associated with preferred capital securities described in note 9. | |
The Company has invested as a limited partner in various partnerships that collectively had total assets of approximately $1.3 billion at December 31, 2013 and $1.5 billion at December 31, 2012. Those partnerships generally construct or acquire properties for which the investing partners are eligible to receive certain federal income tax credits in accordance with government guidelines. Such investments may also provide tax deductible losses to the partners. The partnership investments also assist the Company in achieving its community reinvestment initiatives. As a limited partner, there is no recourse to the Company by creditors of the partnerships. However, the tax credits that result from the Company’s investments in such partnerships are generally subject to recapture should a partnership fail to comply with the respective government regulations. The Company’s maximum exposure to loss of its investments in such partnerships was $236 million, including $45 million of unfunded commitments, at December 31, 2013 and $270 million, including $71 million of unfunded commitments, at December 31, 2012. The Company has not provided financial or other support to the partnerships that was not contractually required. Management currently estimates that no material losses are probable as a result of the Company’s involvement with such entities. The Company, in its position as limited partner, does not direct the activities that most significantly impact the economic performance of the partnerships and, therefore, in accordance with the accounting provisions for variable interest entities, the partnership entities are not included in the Company’s consolidated financial statements. |
Fair_value_measurements
Fair value measurements | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair value measurements | ' | ||||||||||||||||||||
20. Fair value measurements | |||||||||||||||||||||
GAAP permits an entity to choose to measure eligible financial instruments and other items at fair value. The Company has not made any fair value elections at December 31, 2013. | |||||||||||||||||||||
Pursuant to GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy exists in GAAP for fair value measurements based upon the inputs to the valuation of an asset or liability. | |||||||||||||||||||||
• | Level 1 — Valuation is based on quoted prices in active markets for identical assets and liabilities. | ||||||||||||||||||||
• | Level 2 — Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market. | ||||||||||||||||||||
• | Level 3 — Valuation is derived from model-based and other techniques in which at least one significant input is unobservable and which may be based on the Company’s own estimates about the assumptions that market participants would use to value the asset or liability. | ||||||||||||||||||||
When available, the Company attempts to use quoted market prices in active markets to determine fair value and classifies such items as Level 1 or Level 2. If quoted market prices in active markets are not available, fair value is often determined using model-based techniques incorporating various assumptions including interest rates, prepayment speeds and credit losses. Assets and liabilities valued using model-based techniques are classified as either Level 2 or Level 3, depending on the lowest level classification of an input that is considered significant to the overall valuation. The following is a description of the valuation methodologies used for the Company’s assets and liabilities that are measured on a recurring basis at estimated fair value. | |||||||||||||||||||||
Trading account assets and liabilities | |||||||||||||||||||||
Trading account assets and liabilities consist primarily of interest rate swap agreements and foreign exchange contracts with customers who require such services with offsetting positions with third parties to minimize the Company’s risk with respect to such transactions. The Company generally determines the fair value of its derivative trading account assets and liabilities using externally developed pricing models based on market observable inputs and therefore classifies such valuations as Level 2. Mutual funds held in connection with deferred compensation arrangements have been classified as Level 1 valuations. Valuations of investments in municipal and other bonds can generally be obtained through reference to quoted prices in less active markets for the same or similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2. | |||||||||||||||||||||
Investment securities available for sale | |||||||||||||||||||||
The majority of the Company’s available-for-sale investment securities have been valued by reference to prices for similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2. Certain investments in mutual funds and equity securities are actively traded and, therefore, have been classified as Level 1 valuations. | |||||||||||||||||||||
As discussed in note 3, the Company sold substantially all of its privately issued mortgage-backed securities classified as available for sale during the second quarter of 2013. In prior periods, the Company generally used model-based techniques to value such securities because the Company was significantly restricted in the level of market observable assumptions that could be relied upon. Specifically, market assumptions regarding credit adjusted cash flows and liquidity influences on discount rates were difficult to observe at the individual bond level. Because of the inactivity in the markets and the lack of observable valuation inputs, the Company classified the valuation of privately issued mortgage-backed securities as Level 3. | |||||||||||||||||||||
The Company supplemented its determination of fair value for many of its privately issued mortgage-backed securities by obtaining pricing indications from two independent sources at December 31, 2012. However, the Company could not readily ascertain that the basis of such valuations could be ascribed to orderly and observable trades in the market for privately issued mortgage-backed securities. As a result, the Company also performed internal modeling to estimate the cash flows and fair value of privately issued mortgage-backed securities with an amortized cost basis of $1.1 billion at December 31, 2012. The Company’s internal modeling techniques included discounting estimated bond-specific cash flows using assumptions about cash flows associated with loans underlying each of the bonds, including estimates about the timing and amount of credit losses and prepayments. In estimating those cash flows, the Company used assumptions as to future delinquency, defaults, home price appreciation or depreciation and loss rates. To determine the point within the range of potential values that was most representative of fair value under current market conditions for each of the bonds, the Company averaged the internal model valuations and the indications obtained from the two independent pricing sources, such that the weighted-average reliance on internal model pricing for the bonds modeled was 33% with a 67% average weighting placed on the values provided by the independent sources. Significant unobservable inputs used in the Company’s modeling of fair value for mortgage-backed securities are included in the accompanying table of significant unobservable inputs to Level 3 measurements. | |||||||||||||||||||||
Included in collateralized debt obligations are securities backed by trust preferred securities issued by financial institutions and other entities. The Company could not obtain pricing indications for many of these securities from its two primary independent pricing sources. The Company, therefore, performed internal modeling to estimate the cash flows and fair value of its portfolio of securities backed by trust preferred securities at December 31, 2013 and 2012. The modeling techniques included estimating cash flows using bond-specific assumptions about future collateral defaults and related loss severities. The resulting cash flows were then discounted by reference to market yields observed in the single-name trust preferred securities market. In determining a market yield applicable to the estimated cash flows, a margin over LIBOR, ranging from 5% to 11% with a weighted-average of 8% was used. Significant unobservable inputs used in the determination of estimated fair value of collateralized debt obligations are included in the accompanying table of significant unobservable inputs to Level 3 measurements. At December 31, 2013, the total amortized cost and fair value of securities backed by trust preferred securities issued by financial institutions and other entities were $42 million and $63 million, respectively, and at December 31, 2012 were $43 million and $62 million, respectively. Privately issued mortgage-backed securities and securities backed by trust preferred securities issued by financial institutions and other entities constituted all of the available-for-sale investment securities classified as Level 3 valuations. | |||||||||||||||||||||
The Company ensures an appropriate control framework is in place over the valuation processes and techniques used for Level 3 fair value measurements. Internal pricing models used for significant valuation measurements have generally been subjected to validation procedures including testing of mathematical constructs, review of valuation methodology and significant assumptions used. | |||||||||||||||||||||
Real estate loans held for sale | |||||||||||||||||||||
The Company utilizes commitments to sell real estate loans to hedge the exposure to changes in fair value of real estate loans held for sale. The carrying value of hedged real estate loans held for sale includes changes in estimated fair value during the hedge period. Typically, the Company attempts to hedge real estate loans held for sale from the date of close through the sale date. The fair value of hedged real estate loans held for sale is generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans with similar characteristics and, accordingly, such loans have been classified as a Level 2 valuation. | |||||||||||||||||||||
Commitments to originate real estate loans for sale and commitments to sell real estate loans | |||||||||||||||||||||
The Company enters into various commitments to originate real estate loans for sale and commitments to sell real estate loans. Such commitments are considered to be derivative financial instruments and, therefore, are carried at estimated fair value on the consolidated balance sheet. The estimated fair values of such commitments were generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans to certain government-sponsored entities and other parties. The fair valuations of commitments to sell real estate loans generally result in a Level 2 classification. The estimated fair value of commitments to originate real estate loans for sale are adjusted to reflect the Company’s anticipated commitment expirations. The estimated commitment expirations are considered significant unobservable inputs contributing to the Level 3 classification of commitments to originate real estate loans for sale. Significant unobservable inputs used in the determination of estimated fair value of commitments to originate real estate loans for sale are included in the accompanying table of significant unobservable inputs to Level 3 measurements. | |||||||||||||||||||||
Interest rate swap agreements used for interest rate risk management | |||||||||||||||||||||
The Company utilizes interest rate swap agreements as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of earning assets and interest-bearing liabilities. The Company generally determines the fair value of its interest rate swap agreements using externally developed pricing models based on market observable inputs and therefore classifies such valuations as Level 2. The Company has considered counterparty credit risk in the valuation of its interest rate swap assets and has considered its own credit risk in the valuation of its interest rate swap liabilities. | |||||||||||||||||||||
The following tables present assets and liabilities at December 31, 2013 and 2012 measured at estimated fair value on a recurring basis: | |||||||||||||||||||||
Fair Value | Level 1(a) | Level 2(a) | Level 3 | ||||||||||||||||||
Measurements at | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Trading account assets | $ | 376,131 | 51,386 | 324,745 | — | ||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||
U.S. Treasury and federal agencies | 37,776 | — | 37,776 | — | |||||||||||||||||
Obligations of states and political subdivisions | 10,811 | — | 10,811 | — | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Government issued or guaranteed | 4,165,086 | — | 4,165,086 | — | |||||||||||||||||
Privately issued | 1,850 | — | — | 1,850 | |||||||||||||||||
Collateralized debt obligations | 63,083 | — | — | 63,083 | |||||||||||||||||
Other debt securities | 120,085 | — | 120,085 | — | |||||||||||||||||
Equity securities | 133,095 | 82,450 | 50,645 | — | |||||||||||||||||
4,531,786 | 82,450 | 4,384,403 | 64,933 | ||||||||||||||||||
Real estate loans held for sale | 468,650 | — | 468,650 | — | |||||||||||||||||
Other assets(b) | 123,568 | — | 115,952 | 7,616 | |||||||||||||||||
Total assets | $ | 5,500,135 | 133,836 | 5,293,750 | 72,549 | ||||||||||||||||
Trading account liabilities | $ | 249,797 | — | 249,797 | — | ||||||||||||||||
Other liabilities(b) | 4,392 | — | 717 | 3,675 | |||||||||||||||||
Total liabilities | $ | 254,189 | — | 250,514 | 3,675 | ||||||||||||||||
Fair Value | Level 1(a) | Level 2(a) | Level 3 | ||||||||||||||||||
Measurements at | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2012 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Trading account assets | $ | 488,966 | 56,106 | 432,860 | — | ||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||
U.S. Treasury and federal agencies | 39,344 | — | 39,344 | — | |||||||||||||||||
Obligations of states and political subdivisions | 20,901 | — | 20,901 | — | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Government issued or guaranteed | 3,371,041 | — | 3,371,041 | — | |||||||||||||||||
Privately issued | 1,023,886 | — | — | 1,023,886 | |||||||||||||||||
Collateralized debt obligations | 61,869 | — | — | 61,869 | |||||||||||||||||
Other debt securities | 111,950 | — | 111,950 | — | |||||||||||||||||
Equity securities | 110,446 | 98,364 | 12,082 | — | |||||||||||||||||
4,739,437 | 98,364 | 3,555,318 | 1,085,755 | ||||||||||||||||||
Real estate loans held for sale | 1,387,491 | — | 1,387,491 | — | |||||||||||||||||
Other assets(b) | 194,331 | — | 146,275 | 48,056 | |||||||||||||||||
Total assets | $ | 6,810,225 | 154,470 | 5,521,944 | 1,133,811 | ||||||||||||||||
Trading account liabilities | $ | 374,274 | — | 374,274 | — | ||||||||||||||||
Other liabilities(b) | 10,592 | — | 10,395 | 197 | |||||||||||||||||
Total liabilities | $ | 384,866 | — | 384,669 | 197 | ||||||||||||||||
(a) | There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy during the years ended December 31, 2013 and 2012. | ||||||||||||||||||||
(b) | Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3). | ||||||||||||||||||||
The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the year ended December 31, 2013 were as follows: | |||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||
Privately Issued | Collateralized | Other | |||||||||||||||||||
Mortgage- | Debt | Assets and | |||||||||||||||||||
backed | Obligations | Other | |||||||||||||||||||
Securities | Liabilities | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance — January 1, 2013 | $ | 1,023,886 | $ | 61,869 | $ | 47,859 | |||||||||||||||
Total gains (losses) realized/unrealized: | |||||||||||||||||||||
Included in earnings | (56,102 | )(a) | — | 97,845 | (b) | ||||||||||||||||
Included in other comprehensive income | 116,359 | (e) | 4,508 | (e) | — | ||||||||||||||||
Sales | (978,608 | ) | — | — | |||||||||||||||||
Settlements | (103,685 | ) | (3,294 | ) | — | ||||||||||||||||
Transfers in and/or out of Level 3(c) | — | — | (141,763 | )(d) | |||||||||||||||||
Balance — December 31, 2013 | $ | 1,850 | $ | 63,083 | $ | 3,941 | |||||||||||||||
Changes in unrealized gains included in earnings related to assets still held at December 31, 2013 | $ | — | $ | — | $ | 3,431 | (b) | ||||||||||||||
The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the year ended December 31, 2012 were as follows: | |||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||
Privately | Collateralized | Other Assets | |||||||||||||||||||
Issued | Debt | and Other | |||||||||||||||||||
Mortgage- | Obligations | Liabilities | |||||||||||||||||||
backed | |||||||||||||||||||||
Securities | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance — January 1, 2012 | $ | 1,151,285 | $ | 52,500 | $ | 6,923 | |||||||||||||||
Total gains (losses) realized/unrealized: | |||||||||||||||||||||
Included in earnings | (42,467 | )(a) | — | 212,281 | (b) | ||||||||||||||||
Included in other comprehensive income | 114,592 | (e) | 12,214 | (e) | — | ||||||||||||||||
Settlements | (199,524 | ) | (2,845 | ) | — | ||||||||||||||||
Transfers in and/or out of Level 3(c) | — | — | (171,345 | )(d) | |||||||||||||||||
Balance — December 31, 2012 | $ | 1,023,886 | $ | 61,869 | $ | 47,859 | |||||||||||||||
Changes in unrealized gains (losses) included in earnings related to assets still held at December 31, 2012 | $ | (42,467 | )(a) | $ | — | $ | 47,859 | (b) | |||||||||||||
The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the year ended December 31, 2011 were as follows: | |||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||
Privately | Collateralized | Other | |||||||||||||||||||
Issued | Debt | Assets and | |||||||||||||||||||
Mortgage- | Obligations | Other | |||||||||||||||||||
backed | Liabilities | ||||||||||||||||||||
Securities | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance — January 1, 2011 | $ | 1,457,968 | $ | 110,756 | $ | 2,244 | |||||||||||||||
Total gains (losses) realized/unrealized: | |||||||||||||||||||||
Included in earnings | (64,919 | )(a) | 19,231 | (a) | 67,163 | (b) | |||||||||||||||
Included in other comprehensive income | 6,816 | (e) | (272 | )(e) | — | ||||||||||||||||
Purchases | — | 50,790 | — | ||||||||||||||||||
Sales | — | (124,874 | ) | — | |||||||||||||||||
Settlements | (248,580 | ) | (3,131 | ) | — | ||||||||||||||||
Transfers in and/or out of Level 3(c) | — | — | (62,484 | )(d) | |||||||||||||||||
Balance — December 31, 2011 | $ | 1,151,285 | $ | 52,500 | $ | 6,923 | |||||||||||||||
Changes in unrealized gains (losses) included in earnings related to assets still held at December 31, 2011 | $ | (64,919 | )(a) | $ | — | $ | 6,902 | (b) | |||||||||||||
(a) | Reported as an other-than-temporary impairment loss or as gain (loss) on bank investment securities in the consolidated statement of income. | ||||||||||||||||||||
(b) | Reported as mortgage banking revenues in the consolidated statement of income and includes the fair value of commitment issuances and expirations. | ||||||||||||||||||||
(c) | The Company’s policy for transfers between fair value levels is to recognize the transfer as of the actual date of the event or change in circumstances that caused the transfer. | ||||||||||||||||||||
(d) | Transfers out of Level 3 consist of interest rate locks transferred to closed loans. | ||||||||||||||||||||
(e) | Reported as net unrealized gains on investment securities in the consolidated statement of comprehensive income. | ||||||||||||||||||||
The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The more significant of those assets follow. | |||||||||||||||||||||
Investment securities held to maturity | |||||||||||||||||||||
During 2012 and 2011, other-than-temporary losses of $5 million and $12 million, respectively, were recorded related to certain mortgage-backed securities. In accordance with GAAP, the carrying value of such securities was reduced to fair value, with estimated credit losses recognized in earnings and any remaining unrealized loss recognized in accumulated other comprehensive income. The determination of fair value included use of external and internal valuation sources that, as in the case of privately issued mortgage-backed securities, were weighted and averaged when estimating fair value. Due to the presence of significant unobservable inputs those valuations are classified as Level 3. The amortized cost, fair value and impact on the Company’s financial statements of the modeling described herein were not material. No such other-than-temporary losses were recorded in 2013. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan and, as a result, the carrying value of the loan less the calculated valuation amount does not necessarily represent the fair value of the loan. Real estate collateral is typically valued using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have generally been classified as Level 2, unless significant adjustments have been made to the valuation that are not readily observable by market participants. Non-real estate collateral supporting commercial loans generally consists of business assets such as receivables, inventory and equipment. Fair value estimations are typically determined by discounting recorded values of those assets to reflect estimated net realizable value considering specific borrower facts and circumstances and the experience of credit personnel in their dealings with similar borrower collateral liquidations. Such discounts were generally in the range of 20% to 90% at December 31, 2013. As these discounts are not readily observable and are considered significant, the valuations have been classified as Level 3. Loans subject to nonrecurring fair value measurement were $222 million at December 31, 2013, ($173 million and $49 million of which were classified as Level 2 and Level 3, respectively), $335 million at December 31, 2012 ($207 million and $128 million of which were classified as Level 2 and Level 3, respectively), and $419 million at December 31, 2011 ($262 million and $157 million of which were classified as Level 2 and Level 3, respectively). Changes in fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company at the end of each of those years during each of the years ended December 31, 2013, 2012 and 2011 were decreases of $58 million, $67 million and $158 million, respectively. | |||||||||||||||||||||
Assets taken in foreclosure of defaulted loans | |||||||||||||||||||||
Assets taken in foreclosure of defaulted loans are primarily comprised of commercial and residential real property and are generally measured at the lower of cost or fair value less costs to sell. The fair value of the real property is generally determined using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace, and the related nonrecurring fair value measurement adjustments have generally been classified as Level 2. Assets taken in foreclosure of defaulted loans subject to nonrecurring fair value measurement were $29 million and $34 million at December 31, 2013 and December 31, 2012, respectively. Changes in fair value recognized for foreclosed assets held by the Company at December 31, 2013, 2012 and 2011 were not material during each of 2013, 2012 and 2011. | |||||||||||||||||||||
Investment in Bayview Lending Group LLC | |||||||||||||||||||||
In 2011, the Company recognized a $79 million other-than-temporary impairment charge related to M&T’s 20% investment in BLG and charged it down to its estimated fair value at that time of $115 million. That impairment charge is included in “other costs of operations.” In determining the fair value of M&T’s investment in BLG at December 31, 2011, the Company projected no further commercial mortgage origination and securitization activities by BLG. BLG, however, is entitled to receive, if and when made, cash distributions from affiliates, a portion of which is contractually required to be distributed to M&T. Specifically, cash flows related to mortgage assets held by BLG and its affiliates were estimated using various assumptions on future default and loss severities to arrive at the expected amount of cash flow that could be available for distribution. As of December 31, 2011 the weighted-average assumptions of projected default percentage on the underlying mortgage loan collateral supporting those mortgage assets was 31% and the weighted-average loss severity assumption was 75%. With respect to projected value expected to be generated by the asset management and servicing operations of BLG’s affiliates, M&T developed estimates from company-provided forecasts of financial results and through discussions with their senior management pertaining to longer-term projections of growth in assets under management and asset servicing portfolios. M&T considered different scenarios of projected cash flows that could be generated by the asset management and servicing operations of BLG’s affiliates. M&T then discounted the various projections using discount rates that ranged from 8.0% to 12.5% that were determined by reference to returns required by investors in similar businesses. The determination of fair value of M&T’s 20% investment in BLG is considered a Level 3 valuation due to the unobservable nature of key assumptions. There was no other-than-temporary impairment charge recognized in 2013 or 2012 related to M&T’s investment in BLG. | |||||||||||||||||||||
Significant unobservable inputs to level 3 measurements | |||||||||||||||||||||
The following tables present quantitative information about significant unobservable inputs used in the fair value measurements for Level 3 assets and liabilities at December 31, 2013 and 2012: | |||||||||||||||||||||
Fair Value at | Valuation | Unobservable | Range | ||||||||||||||||||
December 31, | Technique | Input/Assumptions | (Weighted- | ||||||||||||||||||
2013 | Average) | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Privately issued mortgage–backed securities | $ | 1,850 | Two independent pricing quotes | — | — | ||||||||||||||||
Collateralized debt obligations | 63,083 | Discounted cash flow | Probability of default | 17%-55% (39%) | |||||||||||||||||
Loss severity | 100% | ||||||||||||||||||||
Net other assets (liabilities)(a) | 3,941 | Discounted cash flow | Commitment expirations | 0%-90% (20%) | |||||||||||||||||
(a) | Other Level 3 assets (liabilities) consist of commitments to originate real estate loans. | ||||||||||||||||||||
Fair Value at | Valuation | Unobservable | Range | ||||||||||||||||||
December 31, | Technique | Input/Assumptions | (Weighted- | ||||||||||||||||||
2012 | Average) | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Privately issued mortgage–backed securities | $ | 1,023,886 | Discounted cash flow | Probability of default | 1%-40% (19%) | ||||||||||||||||
Loss severity | 32%-82% (51%) | ||||||||||||||||||||
Collateralized debt obligations | 61,869 | Discounted cash flow | Probability of default | 22%-69% (47%) | |||||||||||||||||
Loss severity | 100% | ||||||||||||||||||||
Net other assets (liabilities)(a) | 47,859 | Discounted cash flow | Commitment expirations | 0%-69% (20%) | |||||||||||||||||
(a) | Other Level 3 assets (liabilities) consist of commitments to originate real estate loans. | ||||||||||||||||||||
Sensitivity of fair value measurements to changes in unobservable inputs | |||||||||||||||||||||
An increase (decrease) in the probability of default and loss severity for mortgage-backed securities and collateralized debt obligations backed by trust preferred securities would generally result in a lower (higher) fair value measurement. | |||||||||||||||||||||
An increase (decrease) in the estimate of expirations for commitments to originate residential mortgage loans would generally result in a lower (higher) fair value measurement. Estimated commitment expirations are derived considering loan type, changes in interest rates and remaining length of time until closing. | |||||||||||||||||||||
Disclosures of fair value of financial instruments | |||||||||||||||||||||
With the exception of marketable securities, certain off-balance sheet financial instruments and one-to-four family residential mortgage loans originated for sale, the Company’s financial instruments are not readily marketable and market prices do not exist. The Company, in attempting to comply with the provisions of GAAP that require disclosures of fair value of financial instruments, has not attempted to market its financial instruments to potential buyers, if any exist. Since negotiated prices in illiquid markets depend greatly upon the then present motivations of the buyer and seller, it is reasonable to assume that actual sales prices could vary widely from any estimate of fair value made without the benefit of negotiations. Additionally, changes in market interest rates can dramatically impact the value of financial instruments in a short period of time. Additional information about the assumptions and calculations utilized follows. | |||||||||||||||||||||
The carrying amounts and estimated fair value for financial instrument assets (liabilities) are presented in the following table: | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 1,672,934 | $ | 1,672,934 | $ | 1,596,877 | $ | 76,057 | $ | — | |||||||||||
Interest-bearing deposits at banks | 1,651,138 | 1,651,138 | — | 1,651,138 | — | ||||||||||||||||
Trading account assets | 376,131 | 376,131 | 51,386 | 324,745 | — | ||||||||||||||||
Investment securities | 8,796,497 | 8,690,494 | 82,450 | 8,384,106 | 223,938 | ||||||||||||||||
Loans and leases: | |||||||||||||||||||||
Commercial loans and leases | 18,705,216 | 18,457,288 | — | — | 18,457,288 | ||||||||||||||||
Commercial real estate loans | 26,148,208 | 26,018,195 | — | 67,505 | 25,950,690 | ||||||||||||||||
Residential real estate loans | 8,928,221 | 8,867,872 | — | 5,432,207 | 3,435,665 | ||||||||||||||||
Consumer loans | 10,291,514 | 10,201,087 | — | — | 10,201,087 | ||||||||||||||||
Allowance for credit losses | (916,676 | ) | — | — | — | — | |||||||||||||||
Loans and leases, net | 63,156,483 | 63,544,442 | — | 5,499,712 | 58,044,730 | ||||||||||||||||
Accrued interest receivable | 222,558 | 222,558 | — | 222,558 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | $ | (24,661,007 | ) | $ | (24,661,007 | ) | — | $ | (24,661,007 | ) | — | ||||||||||
Savings deposits and NOW accounts | (38,611,021 | ) | (38,611,021 | ) | — | (38,611,021 | ) | — | |||||||||||||
Time deposits | (3,523,838 | ) | (3,542,789 | ) | — | (3,542,789 | ) | — | |||||||||||||
Deposits at Cayman Islands office | (322,746 | ) | (322,746 | ) | — | (322,746 | ) | — | |||||||||||||
Short-term borrowings | (260,455 | ) | (260,455 | ) | — | (260,455 | ) | — | |||||||||||||
Long-term borrowings | (5,108,870 | ) | (5,244,902 | ) | — | (5,244,902 | ) | — | |||||||||||||
Accrued interest payable | (43,419 | ) | (43,419 | ) | — | (43,419 | ) | — | |||||||||||||
Trading account liabilities | (249,797 | ) | (249,797 | ) | — | (249,797 | ) | — | |||||||||||||
Other financial instruments: | |||||||||||||||||||||
Commitments to originate real estate loans for sale | $ | 3,941 | $ | 3,941 | — | $ | — | $ | 3,941 | ||||||||||||
Commitments to sell real estate loans | 12,360 | 12,360 | — | 12,360 | — | ||||||||||||||||
Other credit-related commitments | (118,886 | ) | (118,886 | ) | — | — | (118,886 | ) | |||||||||||||
Interest rate swap agreements used for interest rate risk management | 102,875 | 102,875 | — | 102,875 | — | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 1,986,615 | $ | 1,986,615 | $ | 1,895,423 | $ | 91,192 | $ | — | |||||||||||
Interest-bearing deposits at banks | 129,945 | 129,945 | — | 129,945 | — | ||||||||||||||||
Trading account assets | 488,966 | 488,966 | 56,106 | 432,860 | — | ||||||||||||||||
Investment securities | 6,074,361 | 6,018,968 | 98,364 | 4,687,211 | 1,233,393 | ||||||||||||||||
Loans and leases: | |||||||||||||||||||||
Commercial loans and leases | 17,776,953 | 17,554,562 | — | — | 17,554,562 | ||||||||||||||||
Commercial real estate loans | 25,993,790 | 25,858,482 | — | 199,997 | 25,658,485 | ||||||||||||||||
Residential real estate loans | 11,240,837 | 11,381,319 | — | 8,100,915 | 3,280,404 | ||||||||||||||||
Consumer loans | 11,559,377 | 11,504,799 | — | — | 11,504,799 | ||||||||||||||||
Allowance for credit losses | (925,860 | ) | — | — | — | — | |||||||||||||||
Loans and leases, net | 65,645,097 | 66,299,162 | — | 8,300,912 | 57,998,250 | ||||||||||||||||
Accrued interest receivable | 222,897 | 222,897 | — | 222,897 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | $ | (24,240,802 | ) | $ | (24,240,802 | ) | — | $ | (24,240,802 | ) | — | ||||||||||
Savings deposits and NOW accounts | (35,763,566 | ) | (35,763,566 | ) | — | (35,763,566 | ) | — | |||||||||||||
Time deposits | (4,562,366 | ) | (4,584,384 | ) | — | (4,584,384 | ) | — | |||||||||||||
Deposits at Cayman Islands office | (1,044,519 | ) | (1,044,519 | ) | — | (1,044,519 | ) | — | |||||||||||||
Short-term borrowings | (1,074,482 | ) | (1,074,482 | ) | — | (1,074,482 | ) | — | |||||||||||||
Long-term borrowings | (4,607,758 | ) | (4,768,408 | ) | — | (4,768,408 | ) | — | |||||||||||||
Accrued interest payable | (54,281 | ) | (54,281 | ) | — | (54,281 | ) | — | |||||||||||||
Trading account liabilities | (374,274 | ) | (374,274 | ) | — | (374,274 | ) | — | |||||||||||||
Other financial instruments: | |||||||||||||||||||||
Commitments to originate real estate loans for sale | $ | 47,859 | $ | 47,859 | — | $ | — | $ | 47,859 | ||||||||||||
Commitments to sell real estate loans | (7,299 | ) | (7,299 | ) | — | (7,299 | ) | — | |||||||||||||
Other credit-related commitments | (119,464 | ) | (119,464 | ) | — | — | (119,464 | ) | |||||||||||||
Interest rate swap agreements used for interest rate risk management | 143,179 | 143,179 | — | 143,179 | — | ||||||||||||||||
The following assumptions, methods and calculations were used in determining the estimated fair value of financial instruments not measured at fair value in the consolidated balance sheet. | |||||||||||||||||||||
Cash and cash equivalents, interest-bearing deposits at banks, deposits at Cayman Islands office, short-term borrowings, accrued interest receivable and accrued interest payable | |||||||||||||||||||||
Due to the nature of cash and cash equivalents and the near maturity of interest-bearing deposits at banks, deposits at Cayman Islands office, short-term borrowings, accrued interest receivable and accrued interest payable, the Company estimated that the carrying amount of such instruments approximated estimated fair value. | |||||||||||||||||||||
Investment securities | |||||||||||||||||||||
Estimated fair values of investments in readily marketable securities were generally based on quoted market prices. Investment securities that were not readily marketable were assigned amounts based on estimates provided by outside parties or modeling techniques that relied upon discounted calculations of projected cash flows or, in the case of other investment securities, which include capital stock of the Federal Reserve Bank of New York and the Federal Home Loan Bank of New York, at an amount equal to the carrying amount. | |||||||||||||||||||||
Loans and leases | |||||||||||||||||||||
In general, discount rates used to calculate values for loan products were based on the Company’s pricing at the respective period end. A higher discount rate was assumed with respect to estimated cash flows associated with nonaccrual loans. Projected loan cash flows were adjusted for estimated credit losses. However, such estimates made by the Company may not be indicative of assumptions and adjustments that a purchaser of the Company’s loans and leases would seek. | |||||||||||||||||||||
Deposits | |||||||||||||||||||||
Pursuant to GAAP, the estimated fair value ascribed to noninterest-bearing deposits, savings deposits and NOW accounts must be established at carrying value because of the customers’ ability to withdraw funds immediately. Time deposit accounts are required to be revalued based upon prevailing market interest rates for similar maturity instruments. As a result, amounts assigned to time deposits were based on discounted cash flow calculations using prevailing market interest rates based on the Company’s pricing at the respective date for deposits with comparable remaining terms to maturity. | |||||||||||||||||||||
The Company believes that deposit accounts have a value greater than that prescribed by GAAP. The Company feels, however, that the value associated with these deposits is greatly influenced by characteristics of the buyer, such as the ability to reduce the costs of servicing the deposits and deposit attrition which often occurs following an acquisition. | |||||||||||||||||||||
Long-term borrowings | |||||||||||||||||||||
The amounts assigned to long-term borrowings were based on quoted market prices, when available, or were based on discounted cash flow calculations using prevailing market interest rates for borrowings of similar terms and credit risk. | |||||||||||||||||||||
Other commitments and contingencies | |||||||||||||||||||||
As described in note 21, in the normal course of business, various commitments and contingent liabilities are outstanding, such as loan commitments, credit guarantees and letters of credit. The Company’s pricing of such financial instruments is based largely on credit quality and relationship, probability of funding and other requirements. Loan commitments often have fixed expiration dates and contain termination and other clauses which provide for relief from funding in the event of significant deterioration in the credit quality of the customer. The rates and terms of the Company’s loan commitments, credit guarantees and letters of credit are competitive with other financial institutions operating in markets served by the Company. The Company believes that the carrying amounts, which are included in other liabilities, are reasonable estimates of the fair value of these financial instruments. | |||||||||||||||||||||
The Company does not believe that the estimated information presented herein is representative of the earnings power or value of the Company. The preceding analysis, which is inherently limited in depicting fair value, also does not consider any value associated with existing customer relationships nor the ability of the Company to create value through loan origination, deposit gathering or fee generating activities. | |||||||||||||||||||||
Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise. Management believes that fair value estimates may not be comparable between financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made. Furthermore, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different. |
Commitments_and_contingencies
Commitments and contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and contingencies | ' | ||||||||
21. Commitments and contingencies | |||||||||
In the normal course of business, various commitments and contingent liabilities are outstanding. The following table presents the Company’s significant commitments. Certain of these commitments are not included in the Company’s consolidated balance sheet. | |||||||||
December 31 | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Commitments to extend credit | |||||||||
Home equity lines of credit | $ | 6,218,823 | $ | 6,282,615 | |||||
Commercial real estate loans to be sold | 62,386 | 139,929 | |||||||
Other commercial real estate and construction | 3,919,545 | 3,819,342 | |||||||
Residential real estate loans to be sold | 469,869 | 1,550,441 | |||||||
Other residential real estate | 384,617 | 445,268 | |||||||
Commercial and other | 10,419,545 | 10,070,711 | |||||||
Standby letters of credit | 3,600,528 | 4,025,329 | |||||||
Commercial letters of credit | 53,284 | 53,201 | |||||||
Financial guarantees and indemnification contracts | 2,457,633 | 2,120,361 | |||||||
Commitments to sell real estate loans | 854,656 | 2,625,408 | |||||||
Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee. Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, whereas commercial letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and a third party. The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies. Collateral may be obtained based on management’s assessment of the customer’s creditworthiness. | |||||||||
Financial guarantees and indemnification contracts are oftentimes similar to standby letters of credit and include mandatory purchase agreements issued to ensure that customer obligations are fulfilled, recourse obligations associated with sold loans, and other guarantees of customer performance or compliance with designated rules and regulations. Included in financial guarantees and indemnification contracts are loan principal amounts sold with recourse in conjunction with the Company’s involvement in the Fannie Mae DUS program. The Company’s maximum credit risk for recourse associated with loans sold under this program totaled approximately $2.3 billion and $2.0 billion at December 31, 2013 and 2012, respectively. | |||||||||
Since many loan commitments, standby letters of credit, and guarantees and indemnification contracts expire without being funded in whole or in part, the contract amounts are not necessarily indicative of future cash flows. | |||||||||
The Company utilizes commitments to sell real estate loans to hedge exposure to changes in the fair value of real estate loans held for sale. Such commitments are considered derivatives and along with commitments to originate real estate loans to be held for sale are generally recorded in the consolidated balance sheet at estimated fair market value. | |||||||||
The Company occupies certain banking offices and uses certain equipment under noncancellable operating lease agreements expiring at various dates over the next 25 years. Minimum lease payments under noncancellable operating leases are summarized in the following table: | |||||||||
(In thousands) | |||||||||
Year ending December 31: | |||||||||
2014 | $ | 85,923 | |||||||
2015 | 80,237 | ||||||||
2016 | 66,265 | ||||||||
2017 | 52,793 | ||||||||
2018 | 43,593 | ||||||||
Later years | 135,156 | ||||||||
$ | 463,967 | ||||||||
The Company has an agreement with the Baltimore Ravens of the National Football League whereby the Company obtained the naming rights to a football stadium in Baltimore, Maryland. Under the agreement, the Company is obligated to pay $6 million per year from 2014 through 2017. | |||||||||
The Company reinsures credit life and accident and health insurance purchased by consumer loan customers. The Company also enters into reinsurance contracts with third party insurance companies who insure against the risk of a mortgage borrower’s payment default in connection with certain mortgage loans originated by the Company. When providing reinsurance coverage, the Company receives a premium in exchange for accepting a portion of the insurer’s risk of loss. The outstanding loan principal balances reinsured by the Company were approximately $19 million at December 31, 2013. Assets of subsidiaries providing reinsurance that are available to satisfy claims totaled approximately $36 million at December 31, 2013. The amounts noted above are not necessarily indicative of losses which may ultimately be incurred. Such losses are expected to be substantially less because most loans are repaid by borrowers in accordance with the original loan terms. Management believes that any reinsurance losses that may be payable by the Company will not be material to the Company’s consolidated financial position. | |||||||||
The Company is contractually obligated to repurchase previously sold residential real estate loans that do not ultimately meet investor sale criteria related to underwriting procedures or loan documentation. When required to do so, the Company may reimburse loan purchasers for losses incurred or may repurchase certain loans. The Company reduces residential mortgage banking revenues by an estimate for losses related to its obligations to loan purchasers. The amount of those charges is based on the volume of loans sold, the level of reimbursement requests received from loan purchasers and estimates of losses that may be associated with previously sold loans. At December 31, 2013, management believes that any further liability arising out of the Company’s obligation to loan purchasers is not material to the Company’s consolidated financial position. | |||||||||
M&T and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings in which claims for monetary damages are asserted. On an on-going basis management, after consultation with legal counsel, assesses the Company’s liabilities and contingencies in connection with such legal proceedings. For those matters where it is probable that the Company will incur losses and the amounts of the losses can be reasonably estimated, the Company records an expense and corresponding liability in its consolidated financial statements. To the extent the pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability, was between $0 and $50 million. Although the Company does not believe that the outcome of pending litigations will be material to the Company’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future. |
Segment_information
Segment information | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Segment information | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
22. Segment information | |||||||||||||||||||||||||||||||||||||||||||||||||
Reportable segments have been determined based upon the Company’s internal profitability reporting system, which is organized by strategic business unit. Certain strategic business units have been combined for segment information reporting purposes where the nature of the products and services, the type of customer and the distribution of those products and services are similar. The reportable segments are Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking. | |||||||||||||||||||||||||||||||||||||||||||||||||
The financial information of the Company’s segments has been compiled utilizing the accounting policies described in note 1 with certain exceptions. The more significant of these exceptions are described herein. The Company allocates interest income or interest expense using a methodology that charges users of funds (assets) interest expense and credits providers of funds (liabilities) with income based on the maturity, prepayment and/or repricing characteristics of the assets and liabilities. The net effect of this allocation is recorded in the “All Other” category. A provision for credit losses is allocated to segments in an amount based largely on actual net charge-offs incurred by the segment during the period plus or minus an amount necessary to adjust the segment’s allowance for credit losses due to changes in loan balances. In contrast, the level of the consolidated provision for credit losses is determined using the methodologies described in notes 1 and 5. Indirect fixed and variable expenses incurred by certain centralized support areas are allocated to segments based on actual usage (for example, volume measurements) and other criteria. Certain types of administrative expenses and bankwide expense accruals (including amortization of core deposit and other intangible assets associated with acquisitions of financial institutions) are generally not allocated to segments. Income taxes are allocated to segments based on the Company’s marginal statutory tax rate adjusted for any tax-exempt income or non-deductible expenses. Equity is allocated to the segments based on regulatory capital requirements and in proportion to an assessment of the inherent risks associated with the business of the segment (including interest, credit and operating risk). | |||||||||||||||||||||||||||||||||||||||||||||||||
The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, reported segment results are not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data. Information about the Company’s segments is presented in the accompanying table. Income statement amounts are in thousands of dollars. Balance sheet amounts are in millions of dollars. | |||||||||||||||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Business Banking | Commercial Banking | Commercial Real Estate | Discretionary Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Net interest income(a) | $ | 325,521 | $ | 347,067 | $ | 334,811 | $ | 758,231 | $ | 753,678 | $ | 655,407 | $ | 570,786 | $ | 531,398 | $ | 467,683 | $ | 66,157 | $ | 66,303 | $ | 63,030 | |||||||||||||||||||||||||
Noninterest income | 102,945 | 103,283 | 95,429 | 263,766 | 253,808 | 249,150 | 130,895 | 133,120 | 99,409 | (2,126 | ) | (76,113 | ) | 98,770 | |||||||||||||||||||||||||||||||||||
428,466 | 450,350 | 430,240 | 1,021,997 | 1,007,486 | 904,557 | 701,681 | 664,518 | 567,092 | 64,031 | (9,810 | ) | 161,800 | |||||||||||||||||||||||||||||||||||||
Provision for credit losses | 26,450 | 22,245 | 45,689 | 76,818 | 15,781 | 29,823 | 7,365 | 4,238 | 58,474 | 16,670 | 44,305 | 59,309 | |||||||||||||||||||||||||||||||||||||
Amortization of core deposit and other intangible assets | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Depreciation and other amortization | 198 | 122 | 140 | 564 | 567 | 553 | 14,296 | 11,004 | 9,054 | 1,330 | 2,065 | 2,859 | |||||||||||||||||||||||||||||||||||||
Other noninterest expense | 214,043 | 179,428 | 177,172 | 288,842 | 262,820 | 248,428 | 214,246 | 190,879 | 154,042 | 30,431 | 31,006 | 32,262 | |||||||||||||||||||||||||||||||||||||
Income (loss) before taxes | 187,775 | 248,555 | 207,239 | 655,773 | 728,318 | 625,753 | 465,774 | 458,397 | 345,522 | 15,600 | (87,186 | ) | 67,370 | ||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | 76,735 | 101,484 | 84,532 | 264,433 | 296,894 | 256,311 | 143,981 | 149,321 | 105,709 | (14,368 | ) | (54,071 | ) | 7,975 | |||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 111,040 | $ | 147,071 | $ | 122,707 | $ | 391,340 | $ | 431,424 | $ | 369,442 | $ | 321,793 | $ | 309,076 | $ | 239,813 | $ | 29,968 | $ | (33,115 | ) | $ | 59,395 | ||||||||||||||||||||||||
Average total assets (in millions) | $ | 5,080 | $ | 4,909 | $ | 5,192 | $ | 21,655 | $ | 19,946 | $ | 17,650 | $ | 17,150 | $ | 16,437 | $ | 15,025 | $ | 16,480 | $ | 16,583 | $ | 14,170 | |||||||||||||||||||||||||
Capital expenditures (in millions) | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential Mortgage | Retail Banking | All Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Banking | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Net interest income(a) | $ | 98,496 | $ | 78,058 | $ | 63,951 | $ | 810,134 | $ | 902,906 | $ | 851,332 | $ | 43,904 | $ | (80,894 | ) | $ | (46,458 | ) | $ | 2,673,229 | $ | 2,598,516 | $ | 2,389,756 | |||||||||||||||||||||||
Noninterest income | 325,474 | 402,211 | 184,249 | 373,362 | 349,571 | 366,042 | 670,889 | 501,390 | 489,863 | 1,865,205 | 1,667,270 | 1,582,912 | |||||||||||||||||||||||||||||||||||||
423,970 | 480,269 | 248,200 | 1,183,496 | 1,252,477 | 1,217,374 | 714,793 | 420,496 | 443,405 | 4,538,434 | 4,265,786 | 3,972,668 | ||||||||||||||||||||||||||||||||||||||
Provision for credit losses | (11,711 | ) | 17,169 | 36,375 | 72,502 | 95,345 | 101,679 | (3,094 | ) | 4,917 | (61,349 | ) | 185,000 | 204,000 | 270,000 | ||||||||||||||||||||||||||||||||||
Amortization of core deposit and other intangible assets | — | — | — | — | — | — | 46,912 | 60,631 | 61,617 | 46,912 | 60,631 | 61,617 | |||||||||||||||||||||||||||||||||||||
Depreciation and other amortization | 48,716 | 46,902 | 44,349 | 34,599 | 32,734 | 33,713 | 57,120 | 50,536 | 45,495 | 156,823 | 143,930 | 136,163 | |||||||||||||||||||||||||||||||||||||
Other noninterest expense | 225,794 | 195,604 | 151,945 | 768,644 | 751,916 | 744,905 | 690,150 | 693,046 | 771,534 | 2,432,150 | 2,304,699 | 2,280,288 | |||||||||||||||||||||||||||||||||||||
Income (loss) before taxes | 161,171 | 220,594 | 15,531 | 307,751 | 372,482 | 337,077 | (76,295 | ) | (388,634 | ) | (373,892 | ) | 1,717,549 | 1,552,526 | 1,224,600 | ||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | 61,779 | 85,671 | 2,403 | 125,350 | 151,616 | 137,161 | (78,841 | ) | (207,887 | ) | (228,970 | ) | 579,069 | 523,028 | 365,121 | ||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 99,392 | $ | 134,923 | $ | 13,128 | $ | 182,401 | $ | 220,866 | $ | 199,916 | $ | 2,546 | $ | (180,747 | ) | $ | (144,922 | ) | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||||||||||||||||||
Average total assets (in millions) | $ | 2,858 | $ | 2,451 | $ | 1,958 | $ | 10,997 | $ | 11,705 | $ | 11,940 | $ | 9,442 | $ | 7,952 | $ | 8,042 | $ | 83,662 | $ | 79,983 | $ | 73,977 | |||||||||||||||||||||||||
Capital expenditures (in millions) | $ | — | $ | 1 | $ | — | $ | 40 | $ | 15 | $ | 25 | $ | 89 | $ | 76 | $ | 45 | $ | 130 | $ | 92 | $ | 70 | |||||||||||||||||||||||||
(a) | Net interest income is the difference between actual taxable-equivalent interest earned on assets and interest paid on liabilities by a segment and a funding charge (credit) based on the Company’s internal funds transfer pricing methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $24,971,000 in 2013, $26,391,000 in 2012 and $25,876,000 in 2011 and is eliminated in “All Other” net interest income and income tax expense (benefit). | ||||||||||||||||||||||||||||||||||||||||||||||||
The Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals through the Company’s banking office network and several other delivery channels, including business banking centers, telephone banking, Internet banking and automated teller machines. The Commercial Banking segment provides a wide range of credit products and banking services to middle-market and large commercial customers, mainly within the markets the Company serves. Among the services provided by this segment are commercial lending and leasing, letters of credit, deposit products and cash management services. The Commercial Real Estate segment provides credit services which are secured by various types of multifamily residential and commercial real estate and deposit services to its customers. Activities of this segment include the origination, sales and servicing of commercial real estate loans. The Discretionary Portfolio segment includes securities, residential mortgage loans and other assets; short-term and long-term borrowed funds; brokered certificates of deposit and interest rate swap agreements related thereto; and Cayman Islands branch deposits. This segment also provides foreign exchange services to customers. The Residential Mortgage Banking segment originates and services residential mortgage loans for consumers and sells substantially all of those loans in the secondary market to investors or to the Discretionary Portfolio segment. The segment periodically purchases servicing rights to loans that have been originated by other entities. Residential mortgage loans held for sale are included in the Residential Mortgage Banking segment. The Retail Banking segment offers a variety of services to consumers through several delivery channels that include banking offices, automated teller machines, telephone banking and Internet banking. The “All Other” category includes other operating activities of the Company that are not directly attributable to the reported segments; the difference between the provision for credit losses and the calculated provision allocated to the reportable segments; goodwill and core deposit and other intangible assets resulting from acquisitions of financial institutions; merger-related gains and expenses resulting from acquisitions; the net impact of the Company’s internal funds transfer pricing methodology; eliminations of transactions between reportable segments; certain nonrecurring transactions; the residual effects of unallocated support systems and general and administrative expenses; and the impact of interest rate risk management strategies. The amount of intersegment activity eliminated in arriving at consolidated totals was included in the “All Other” category as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | (50,128 | ) | $ | (71,452 | ) | $ | (64,239 | ) | ||||||||||||||||||||||||||||||||||||||||
Expenses | (16,235 | ) | (17,313 | ) | (14,146 | ) | |||||||||||||||||||||||||||||||||||||||||||
Income taxes (benefit) | (13,791 | ) | (22,029 | ) | (20,383 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (20,102 | ) | (32,110 | ) | (29,710 | ) | |||||||||||||||||||||||||||||||||||||||||||
The Company conducts substantially all of its operations in the United States. There are no transactions with a single customer that in the aggregate result in revenues that exceed ten percent of consolidated total revenues. |
Regulatory_matters
Regulatory matters | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Regulatory matters | ' | ||||||||||||
23. Regulatory matters | |||||||||||||
Payment of dividends by M&T’s banking subsidiaries is restricted by various legal and regulatory limitations. Dividends from any banking subsidiary to M&T are limited by the amount of earnings of the banking subsidiary in the current year and the preceding two years. For purposes of this test, at December 31, 2013, approximately $1.11 billion was available for payment of dividends to M&T from banking subsidiaries. Additionally, the Federal Reserve Board requires bank holding companies with $50 billion or more of total consolidated assets to submit annual capital plans. Such bank holding companies may pay dividends and repurchase stock only in accordance with a capital plan which the Federal Reserve Board has not objected to. | |||||||||||||
Banking regulations prohibit extensions of credit by the subsidiary banks to M&T unless appropriately secured by assets. Securities of affiliates are not eligible as collateral for this purpose. | |||||||||||||
The bank subsidiaries are required to maintain noninterest-earning reserves against certain deposit liabilities. During the maintenance periods that included December 31, 2013 and 2012, cash and due from banks included a daily average of $595,593,000 and $604,789,000, respectively, for such purpose. | |||||||||||||
Federal regulators have adopted capital adequacy guidelines for bank holding companies and banks. Failure to meet minimum capital requirements can result in certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a material effect on the Company’s financial statements. Under the capital adequacy guidelines, the so-called “Tier 1 capital” and “Total capital” as a percentage of risk-weighted assets and certain off-balance sheet financial instruments must be at least 4% and 8%, respectively. In addition to these risk-based measures, regulators also require banking institutions that meet certain qualitative criteria to maintain a minimum “leverage” ratio of “Tier 1 capital” to average total assets, adjusted for goodwill and certain other items, of at least 3% to be considered adequately capitalized. As of December 31, 2013, M&T and each of its banking subsidiaries exceeded all applicable capital adequacy requirements. To be considered “well capitalized,” under the regulatory framework for prompt corrective action, a banking institution must maintain Tier 1 risk-based capital, total risk-based capital and leverage ratios of at least 6%, 10% and 5%, respectively. | |||||||||||||
The capital ratios and amounts of the Company and its banking subsidiaries as of December 31, 2013 and 2012 are presented below: | |||||||||||||
M&T | M&T Bank | Wilmington | |||||||||||
(Consolidated) | Trust, N.A. | ||||||||||||
(Dollars in thousands) | |||||||||||||
December 31, 2013: | |||||||||||||
Tier 1 capital | |||||||||||||
Amount | $ | 8,792,035 | $ | 7,341,506 | $ | 420,330 | |||||||
Ratio(a) | 12 | % | 10.08 | % | 73.79 | % | |||||||
Minimum required amount(b) | 2,930,925 | 2,914,246 | 22,786 | ||||||||||
Total capital | |||||||||||||
Amount | 11,045,589 | 9,445,770 | 424,975 | ||||||||||
Ratio(a) | 15.07 | % | 12.96 | % | 74.6 | % | |||||||
Minimum required amount(b) | 5,861,849 | 5,828,491 | 45,573 | ||||||||||
Leverage | |||||||||||||
Amount | 8,792,035 | 7,341,506 | 420,330 | ||||||||||
Ratio(c) | 10.78 | % | 9.09 | % | 19.8 | % | |||||||
Minimum required amount(b) | 2,446,476 | 2,422,096 | 63,678 | ||||||||||
December 31, 2012: | |||||||||||||
Tier 1 capital | |||||||||||||
Amount | $ | 7,810,196 | $ | 6,767,774 | $ | 405,469 | |||||||
Ratio(a) | 10.22 | % | 8.92 | % | 61.02 | % | |||||||
Minimum required amount(b) | 3,057,093 | 3,034,184 | 26,580 | ||||||||||
Total capital | |||||||||||||
Amount | 10,230,302 | 8,981,931 | 410,873 | ||||||||||
Ratio(a) | 13.39 | % | 11.84 | % | 61.83 | % | |||||||
Minimum required amount(b) | 6,114,186 | 6,068,367 | 53,160 | ||||||||||
Leverage | |||||||||||||
Amount | 7,810,196 | 6,767,774 | 405,469 | ||||||||||
Ratio(c) | 10.07 | % | 8.84 | % | 21.62 | % | |||||||
Minimum required amount(b) | 2,327,122 | 2,297,902 | 56,275 | ||||||||||
(a) | The ratio of capital to risk-weighted assets, as defined by regulation. | ||||||||||||
(b) | Minimum amount of capital to be considered adequately capitalized, as defined by regulation. | ||||||||||||
(c) | The ratio of capital to average assets, as defined by regulation. |
Relationship_with_Bayview_Lend
Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. | ' |
24. Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. | |
M&T holds a 20% interest in BLG, a privately-held commercial mortgage company. The carrying value of that investment was $74 million at December 31, 2013. M&T recognizes income or loss from BLG using the equity method of accounting. In 2011, the Company recognized a $79 million other-than-temporary impairment charge related to its investment in BLG that is included in “other costs of operations.” Further information concerning the other-than-temporary impairment charge is provided in note 20. | |
Bayview Financial Holdings, L.P. (together with its affiliates, “Bayview Financial”), a privately-held specialty mortgage finance company, is BLG’s majority investor. In addition to their common investment in BLG, the Company and Bayview Financial conduct other business activities with each other. The Company has obtained loan servicing rights for mortgage loans from BLG and Bayview Financial having outstanding principal balances of $5.5 billion and $6.5 billion at December 31, 2013 and 2012, respectively. Revenues from those servicing rights were $31 million, $35 million and $41 million during 2013, 2012 and 2011, respectively. The Company sub-services residential mortgage loans for Bayview Financial having outstanding principal balances totaling $45.6 billion and $11.4 billion at December 31, 2013 and 2012, respectively. Revenues earned for sub-servicing loans for Bayview Financial were $33 million in 2013, $10 million in 2012 and $477 thousand in 2011. In addition, the Company held $2 million and $11 million at December 31, 2013 and 2012, respectively, of mortgage-backed securities in its available-for-sale investment securities portfolio that were securitized by Bayview Financial. Finally, the Company held $220 million and $242 million of similar investment securities in its held-to-maturity portfolio at December 31, 2013 and 2012, respectively. |
Parent_company_financial_state
Parent company financial statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Parent company financial statements | ' | ||||||||||||
25. Parent company financial statements | |||||||||||||
Condensed Balance Sheet | |||||||||||||
December 31 | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Assets | |||||||||||||
Cash in subsidiary bank | $ | 10,729 | $ | 4,774 | |||||||||
Due from consolidated bank subsidiaries | |||||||||||||
Money-market savings | 968,274 | 714,677 | |||||||||||
Current income tax receivable | 1,914 | 1,835 | |||||||||||
Other | 1,894 | — | |||||||||||
Total due from consolidated bank subsidiaries | 972,082 | 716,512 | |||||||||||
Investments in consolidated subsidiaries | |||||||||||||
Banks and bank holding company | 11,364,657 | 10,495,557 | |||||||||||
Other | 16,212 | 16,344 | |||||||||||
Investments in unconsolidated subsidiaries (note 19) | 33,751 | 33,916 | |||||||||||
Investment in Bayview Lending Group LLC | 73,883 | 93,489 | |||||||||||
Other assets | 80,098 | 83,975 | |||||||||||
Total assets | $ | 12,551,412 | $ | 11,444,567 | |||||||||
Liabilities | |||||||||||||
Due to consolidated bank subsidiaries | $ | — | $ | 213 | |||||||||
Accrued expenses and other liabilities | 62,817 | 60,619 | |||||||||||
Long-term borrowings | 1,183,063 | 1,181,142 | |||||||||||
Total liabilities | 1,245,880 | 1,241,974 | |||||||||||
Shareholders’ equity | 11,305,532 | 10,202,593 | |||||||||||
Total liabilities and shareholders’ equity | $ | 12,551,412 | $ | 11,444,567 | |||||||||
Condensed Statement of Income | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share) | |||||||||||||
Income | |||||||||||||
Dividends from consolidated bank subsidiaries | $ | 700,000 | $ | 700,000 | $ | 715,000 | |||||||
Equity in earnings of Bayview Lending Group LLC | (16,126 | ) | (21,511 | ) | (24,231 | ) | |||||||
Other income | 9,992 | 8,755 | 67,829 | ||||||||||
Total income | 693,866 | 687,244 | 758,598 | ||||||||||
Expense | |||||||||||||
Interest on long-term borrowings | 73,115 | 82,286 | 90,959 | ||||||||||
Other expense (a) | 15,994 | 19,226 | 87,368 | ||||||||||
Total expense | 89,109 | 101,512 | 178,327 | ||||||||||
Income before income taxes and equity in undistributed income of subsidiaries | 604,757 | 585,732 | 580,271 | ||||||||||
Income tax credits | 35,986 | 43,149 | 50,460 | ||||||||||
Income before equity in undistributed income of subsidiaries | 640,743 | 628,881 | 630,731 | ||||||||||
Equity in undistributed income of subsidiaries | |||||||||||||
Net income of subsidiaries | 1,197,737 | 1,100,617 | 943,748 | ||||||||||
Less: dividends received | (700,000 | ) | (700,000 | ) | (715,000 | ) | |||||||
Equity in undistributed income of subsidiaries | 497,737 | 400,617 | 228,748 | ||||||||||
Net income | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||
Net income per common share | |||||||||||||
Basic | $ | 8.26 | $ | 7.57 | $ | 6.37 | |||||||
Diluted | 8.2 | 7.54 | 6.35 | ||||||||||
(a) | In 2011 includes $79 million write-down of Investment in Bayview Lending Group LLC. | ||||||||||||
Condensed Statement of Cash Flows | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Cash flows from operating activities | |||||||||||||
Net income | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||||
Equity in undistributed income of subsidiaries | (497,737 | ) | (400,617 | ) | (228,748 | ) | |||||||
Provision for deferred income taxes | 1,535 | 1,724 | (10,349 | ) | |||||||||
Asset write-downs | — | — | 79,012 | ||||||||||
Net change in accrued income and expense | 31,979 | 6,798 | 44,336 | ||||||||||
Net cash provided by operating activities | 674,257 | 637,403 | 743,730 | ||||||||||
Cash flows from investing activities | |||||||||||||
Proceeds from sales of investment securities | — | 411 | 1,987 | ||||||||||
Proceeds from maturities of investment securities | — | — | 4,400 | ||||||||||
Investment in subsidiary | (140,000 | ) | — | — | |||||||||
Purchase of Wilmington Trust Corporation preferred stock | — | — | (330,000 | ) | |||||||||
Other, net | 3,295 | 324 | 2,833 | ||||||||||
Net cash provided (used) by investing activities | (136,705 | ) | 735 | (320,780 | ) | ||||||||
Cash flows from financing activities | |||||||||||||
Payments on long-term borrowings | — | (300,000 | ) | — | |||||||||
Dividends paid — common | (365,349 | ) | (357,717 | ) | (350,129 | ) | |||||||
Dividends paid — preferred | (53,450 | ) | (53,450 | ) | (48,203 | ) | |||||||
Proceeds from issuance of preferred stock | — | — | 495,000 | ||||||||||
Redemption of preferred stock | — | — | (370,000 | ) | |||||||||
Other, net | 140,799 | 143,352 | 16,386 | ||||||||||
Net cash used by financing activities | (278,000 | ) | (567,815 | ) | (256,946 | ) | |||||||
Net increase in cash and cash equivalents | 259,552 | 70,323 | 166,004 | ||||||||||
Cash and cash equivalents at beginning of year | 719,451 | 649,128 | 483,124 | ||||||||||
Cash and cash equivalents at end of year | $ | 979,003 | $ | 719,451 | $ | 649,128 | |||||||
Supplemental disclosure of cash flow information | |||||||||||||
Interest received during the year | $ | 2,224 | $ | 1,970 | $ | 2,082 | |||||||
Interest paid during the year | 71,090 | 80,090 | 87,184 | ||||||||||
Income taxes received during the year | 45,237 | 21,878 | 57,964 |
Significant_accounting_policie1
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Consolidation | ' |
Consolidation | |
The consolidated financial statements include M&T and all of its subsidiaries. All significant intercompany accounts and transactions of consolidated subsidiaries have been eliminated in consolidation. The financial statements of M&T included in note 25 report investments in subsidiaries under the equity method. Information about some limited purpose entities that are affiliates of the Company but are not included in the consolidated financial statements appears in note 19. | |
Consolidated Statement of Cash Flows | ' |
Consolidated Statement of Cash Flows | |
For purposes of this statement, cash and due from banks and federal funds sold are considered cash and cash equivalents. | |
Securities purchased under agreements to resell and securities sold under agreements to repurchase | ' |
Securities purchased under agreements to resell and securities sold under agreements to repurchase | |
Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions and are recorded at amounts equal to the cash or other consideration exchanged. It is generally the Company’s policy to take possession of collateral pledged to secure agreements to resell. | |
Trading account | ' |
Trading account | |
Financial instruments used for trading purposes are stated at fair value. Realized gains and losses and unrealized changes in fair value of financial instruments utilized in trading activities are included in “trading account and foreign exchange gains” in the consolidated statement of income. | |
Investment securities | ' |
Investment securities | |
Investments in debt securities are classified as held to maturity and stated at amortized cost when management has the positive intent and ability to hold such securities to maturity. Investments in other debt securities and equity securities having readily determinable fair values are classified as available for sale and stated at estimated fair value. Amortization of premiums and accretion of discounts for investment securities available for sale and held to maturity are included in interest income. | |
Other securities are stated at cost and include stock of the Federal Reserve Bank of New York and the Federal Home Loan Bank (“FHLB”) of New York. | |
The cost basis of individual securities is written down through a charge to earnings when declines in value below amortized cost are considered to be other than temporary. In cases where fair value is less than amortized cost and the Company intends to sell a debt security, it is more likely than not to be required to sell a debt security before recovery of its amortized cost basis, or the Company does not expect to recover the entire amortized cost basis of a debt security, an other-than-temporary impairment is considered to have occurred. If the Company intends to sell the debt security or more likely than not will be required to sell the security before recovery of its amortized cost basis, the other-than-temporary impairment is recognized in earnings equal to the entire difference between the debt security’s amortized cost basis and its fair value. If the Company does not expect to recover the entire amortized cost basis of the security, the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the other-than-temporary impairment is separated into (a) the amount representing the credit loss and (b) the amount related to all other factors. The amount of the other-than-temporary impairment related to the credit loss is recognized in earnings while the amount related to other factors is recognized in other comprehensive income, net of applicable taxes. Subsequently, the Company accounts for the other-than-temporarily impaired debt security as if the security had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the other-than-temporary impairment recognized in earnings. The cost basis of individual equity securities is written down to estimated fair value through a charge to earnings when declines in value below cost are considered to be other than temporary. Realized gains and losses on the sales of investment securities are determined using the specific identification method. | |
Loans and leases | ' |
Loans and leases | |
The Company’s accounting methods for loans depends on whether the loans were originated by the Company or were acquired in a business combination. | |
Originated loans and leases | |
Interest income on loans is accrued on a level yield method. Loans are placed on nonaccrual status and previously accrued interest thereon is charged against income when principal or interest is delinquent 90 days, unless management determines that the loan status clearly warrants other treatment. Nonaccrual commercial loans and commercial real estate loans are returned to accrual status when borrowers have demonstrated an ability to repay their loans and there are no delinquent principal and interest payments. Consumer loans not secured by residential real estate are returned to accrual status when all past due principal and interest payments have been paid by the borrower. Loans secured by residential real estate are returned to accrual status when they are deemed to have an insignificant delay in payments of 90 days or less. Loan balances are charged off when it becomes evident that such balances are not fully collectible. For commercial loans and commercial real estate loans, charge-offs are recognized after an assessment by credit personnel of the capacity and willingness of the borrower to repay, the estimated value of any collateral, and any other potential sources of repayment. A charge-off is recognized when, after such assessment, it becomes evident that the loan balance is not fully collectible. For loans secured by residential real estate, the excess of the loan balances over the net realizable value of the property collateralizing the loan is charged-off when the loan becomes 150 days delinquent. Consumer loans are generally charged-off when the loans are 91 to 180 days past due, depending on whether the loan is collateralized and the status of repossession activities with respect to such collateral. Loan fees and certain direct loan origination costs are deferred and recognized as an interest yield adjustment over the life of the loan. Net deferred fees have been included in unearned discount as a reduction of loans outstanding. Commitments to sell real estate loans are utilized by the Company to hedge the exposure to changes in fair value of real estate loans held for sale. The carrying value of hedged real estate loans held for sale recorded in the consolidated balance sheet includes changes in estimated fair market value during the hedge period, typically from the date of close through the sale date. Valuation adjustments made on these loans and commitments are included in “mortgage banking revenues.” | |
Except for consumer and residential mortgage loans that are considered smaller balance homogenous loans and are evaluated collectively, the Company considers a loan to be impaired for purposes of applying GAAP when, based on current information and events, it is probable that the Company will be unable to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days. Regardless of loan type, the Company considers a loan to be impaired if it qualifies as a troubled debt restructuring. Impaired loans are classified as either nonaccrual or as loans renegotiated at below market rates which continue to accrue interest, provided that a credit assessment of the borrower’s financial condition results in an expectation of full repayment under the modified contractual terms. Certain loans greater than 90 days delinquent are not considered impaired if they are well-secured and in the process of collection. Loans less than 90 days delinquent are deemed to have an insignificant delay in payment and are generally not considered impaired. Impairment of a loan is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of collateral if the loan is collateral-dependent. Interest received on impaired loans placed on nonaccrual status is generally applied to reduce the carrying value of the loan or, if principal is considered fully collectible, recognized as interest income. | |
Residual value estimates for commercial leases are generally determined through internal or external reviews of the leased property. The Company reviews commercial lease residual values at least annually and recognizes residual value impairments deemed to be other than temporary. | |
Loans and leases acquired in a business combination | |
Loans acquired in a business combination subsequent to December 31, 2008 are recorded at fair value with no carry-over of an acquired entity’s previously established allowance for credit losses. The excess of cash flows expected at acquisition over the estimated fair value of acquired loans is recognized as interest income over the remaining lives of the loans. Subsequent decreases in the expected principal cash flows require the Company to evaluate the need for additions to the Company’s allowance for credit losses. Subsequent improvements in expected cash flows result first in the recovery of any related allowance for credit losses and then in recognition of additional interest income over the then-remaining lives of the loans. | |
Purchased impaired loans represent specifically identified loans with evidence of credit deterioration for which it was probable at acquisition that the Company would be unable to collect all contractual principal and interest payments. | |
Allowance for credit losses | ' |
Allowance for credit losses | |
The allowance for credit losses represents, in management’s judgment, the amount of losses inherent in the loan and lease portfolio as of the balance sheet date. The allowance is determined by management’s evaluation of the loan and lease portfolio based on such factors as the differing economic risks associated with each loan category, the current financial condition of specific borrowers, the economic environment in which borrowers operate, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or indemnifications. The effects of probable decreases in expected principal cash flows on acquired loans are also considered in the establishment of the allowance for credit losses. | |
Assets taken in foreclosure of defaulted loans | ' |
Assets taken in foreclosure of defaulted loans | |
Assets taken in foreclosure of defaulted loans are primarily comprised of commercial and residential real property and are included in “other assets” in the consolidated balance sheet. Upon acquisition of assets taken in satisfaction of a defaulted loan, the excess of the remaining loan balance over the asset’s estimated fair value less costs to sell is charged off against the allowance for credit losses. Subsequent declines in value of the assets are recognized as “other costs of operations” in the consolidated statement of income. | |
Premises and equipment | ' |
Premises and equipment | |
Premises and equipment are stated at cost less accumulated depreciation. Depreciation expense is computed principally using the straight-line method over the estimated useful lives of the assets. | |
Capitalized servicing rights | ' |
Capitalized servicing rights | |
Capitalized servicing assets are included in “other assets” in the consolidated balance sheet. Separately recognized servicing assets are initially measured at fair value. The Company uses the amortization method to subsequently measure servicing assets. Under that method, capitalized servicing assets are charged to expense in proportion to and over the period of estimated net servicing income. | |
To estimate the fair value of servicing rights, the Company considers market prices for similar assets and the present value of expected future cash flows associated with the servicing rights calculated using assumptions that market participants would use in estimating future servicing income and expense. Such assumptions include estimates of the cost of servicing loans, loan default rates, an appropriate discount rate, and prepayment speeds. For purposes of evaluating and measuring impairment of capitalized servicing rights, the Company stratifies such assets based on the predominant risk characteristics of the underlying financial instruments that are expected to have the most impact on projected prepayments, cost of servicing and other factors affecting future cash flows associated with the servicing rights. Such factors may include financial asset or loan type, note rate and term. The amount of impairment recognized is the amount by which the carrying value of the capitalized servicing rights for a stratum exceeds estimated fair value. Impairment is recognized through a valuation allowance. | |
Sales and securitizations of financial assets | ' |
Sales and securitizations of financial assets | |
Transfers of financial assets for which the Company has surrendered control of the financial assets are accounted for as sales. Interests in a sale of financial assets that continue to be held by the Company, including servicing rights, are measured at fair value. The fair values of retained debt securities are generally determined through reference to independent pricing information. The fair values of retained servicing rights and any other retained interests are determined based on the present value of expected future cash flows associated with those interests and by reference to market prices for similar assets. | |
Securitization structures typically require the use of special-purpose trusts that are considered variable interest entities. A variable interest entity is included in the consolidated financial statements if the Company has the power to direct the activities that most significantly impact the variable interest entity’s economic performance and has the obligation to absorb losses or the right to receive benefits of the variable interest entity that could potentially be significant to that entity. | |
Goodwill and core deposit and other intangible assets | ' |
Goodwill and core deposit and other intangible assets | |
Goodwill represents the excess of the cost of an acquired entity over the fair value of the identifiable net assets acquired. Goodwill is not amortized, but rather is tested for impairment at least annually at the reporting unit level, which is either at the same level or one level below an operating segment. Other acquired intangible assets with finite lives, such as core deposit intangibles, are initially recorded at estimated fair value and are amortized over their estimated lives. Core deposit and other intangible assets are generally amortized using accelerated methods over estimated useful lives of five to ten years. The Company periodically assesses whether events or changes in circumstances indicate that the carrying amounts of core deposit and other intangible assets may be impaired. | |
Derivative financial instruments | ' |
Derivative financial instruments | |
The Company accounts for derivative financial instruments at fair value. If certain conditions are met, a derivative may be specifically designated as (a) a hedge of the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment, (b) a hedge of the exposure to variable cash flows of a forecasted transaction or (c) a hedge of the foreign currency exposure of a net investment in a foreign operation, an unrecognized firm commitment, an available-for-sale security, or a foreign currency denominated forecasted transaction. | |
The Company utilizes interest rate swap agreements as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of earning assets and interest-bearing liabilities. For such agreements, amounts receivable or payable are recognized as accrued under the terms of the agreement and the net differential is recorded as an adjustment to interest income or expense of the related asset or liability. Interest rate swap agreements may be designated as either fair value hedges or cash flow hedges. In a fair value hedge, the fair values of the interest rate swap agreements and changes in the fair values of the hedged items are recorded in the Company’s consolidated balance sheet with the corresponding gain or loss recognized in current earnings. The difference between changes in the fair values of interest rate swap agreements and the hedged items represents hedge ineffectiveness and is recorded in “other revenues from operations” in the consolidated statement of income. In a cash flow hedge, the effective portion of the derivative’s unrealized gain or loss is initially recorded as a component of other comprehensive income and subsequently reclassified into earnings when the forecasted transaction affects earnings. The ineffective portion of the unrealized gain or loss is reported in “other revenues from operations” immediately. | |
The Company utilizes commitments to sell real estate loans to hedge the exposure to changes in the fair value of real estate loans held for sale. Commitments to originate real estate loans to be held for sale and commitments to sell real estate loans are generally recorded in the consolidated balance sheet at estimated fair market value. | |
Derivative instruments not related to mortgage banking activities, including financial futures commitments and interest rate swap agreements, that do not satisfy the hedge accounting requirements are recorded at fair value and are generally classified as trading account assets or liabilities with resultant changes in fair value being recognized in “trading account and foreign exchange gains” in the consolidated statement of income. | |
Stock-based compensation | ' |
Stock-based compensation | |
Stock-based compensation expense is recognized over the vesting period of the stock-based grant based on the estimated grant date value of the stock-based compensation that is expected to vest, except that the recognition of compensation costs is accelerated for stock-based awards granted to retirement-eligible employees and employees who will become retirement-eligible prior to full vesting of the award because the Company’s incentive compensation plan allows for vesting at the time an employee retires. | |
Income taxes | ' |
Income taxes | |
Deferred tax assets and liabilities are recognized for the future tax effects attributable to differences between the financial statement value of existing assets and liabilities and their respective tax bases and carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates and laws. | |
The Company evaluates uncertain tax positions using the two-step process required by GAAP. The first step requires a determination of whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Under the second step, a tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. | |
Earnings per common share | ' |
Earnings per common share | |
Basic earnings per common share exclude dilution and are computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding (exclusive of shares represented by the unvested portion of restricted stock and restricted stock unit grants) and common shares issuable under deferred compensation arrangements during the period. Diluted earnings per common share reflect shares represented by the unvested portion of restricted stock and restricted stock unit grants and the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in earnings. Proceeds assumed to have been received on such exercise or conversion are assumed to be used to purchase shares of M&T common stock at the average market price during the period, as required by the “treasury stock method” of accounting. | |
GAAP requires that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) shall be considered participating securities and shall be included in the computation of earnings per common share pursuant to the two-class method. The Company has issued stock-based compensation awards in the form of restricted stock and restricted stock units that contain such rights and, accordingly, the Company’s earnings per common share are calculated using the two-class method. | |
Treasury stock | ' |
Treasury stock | |
Repurchases of shares of M&T common stock are recorded at cost as a reduction of shareholders’ equity. Reissuances of shares of treasury stock are recorded at average cost. |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Pro Forma Information | ' | ||||||||||||
Additionally, the Company has achieved further operating cost savings and other business synergies as a result of the acquisition which are not reflected in the pro forma amounts that follow. | |||||||||||||
Actual Since | Pro Forma | ||||||||||||
Acquisition | Year Ended | ||||||||||||
Through | December 31, 2011 | ||||||||||||
December 31, 2011 | |||||||||||||
(In thousands) | |||||||||||||
Total revenues(a) | $ | 380,945 | $ | 4,202,109 | |||||||||
Net income | 18,586 | 808,696 | |||||||||||
(a) | Represents net interest income plus other income. | ||||||||||||
Summary of Merger-Related Expenses | ' | ||||||||||||
A summary of merger-related expenses included in the consolidated statement of income for the years ended December 31, 2013, 2012 and 2011 follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Salaries and employee benefits | $ | 836 | $ | 4,997 | $ | 16,131 | |||||||
Equipment and net occupancy | 690 | 15 | 412 | ||||||||||
Printing, postage and supplies | 1,825 | — | 2,663 | ||||||||||
Other costs of operations | 9,013 | 4,867 | 64,481 | ||||||||||
$ | 12,364 | $ | 9,879 | $ | 83,687 | ||||||||
Investment_securities_Tables
Investment securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||
Amortized Cost and Estimated Fair Value of Investment Securities | ' | ||||||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities were as follows: | |||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
U.S. Treasury and federal agencies | $ | 37,396 | $ | 382 | $ | 2 | $ | 37,776 | |||||||||||||||||||||
Obligations of states and political subdivisions | 10,484 | 333 | 6 | 10,811 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 4,123,435 | 61,001 | 19,350 | 4,165,086 | |||||||||||||||||||||||||
Privately issued | 1,468 | 387 | 5 | 1,850 | |||||||||||||||||||||||||
Collateralized debt obligations | 42,274 | 21,666 | 857 | 63,083 | |||||||||||||||||||||||||
Other debt securities | 137,828 | 1,722 | 19,465 | 120,085 | |||||||||||||||||||||||||
Equity securities | 91,480 | 41,842 | 227 | 133,095 | |||||||||||||||||||||||||
4,444,365 | 127,333 | 39,912 | 4,531,786 | ||||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 169,684 | 3,744 | 135 | 173,293 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 3,567,905 | 16,160 | 65,149 | 3,518,916 | |||||||||||||||||||||||||
Privately issued | 219,628 | — | 60,623 | 159,005 | |||||||||||||||||||||||||
Other debt securities | 8,913 | — | — | 8,913 | |||||||||||||||||||||||||
3,966,130 | 19,904 | 125,907 | 3,860,127 | ||||||||||||||||||||||||||
Other securities | 298,581 | — | — | 298,581 | |||||||||||||||||||||||||
Total | $ | 8,709,076 | $ | 147,237 | $ | 165,819 | $ | 8,690,494 | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
U.S. Treasury and federal agencies | $ | 38,422 | $ | 922 | $ | — | $ | 39,344 | |||||||||||||||||||||
Obligations of states and political subdivisions | 20,375 | 534 | 8 | 20,901 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 3,163,210 | 208,060 | 229 | 3,371,041 | |||||||||||||||||||||||||
Privately issued | 1,142,287 | 7,272 | 125,673 | 1,023,886 | |||||||||||||||||||||||||
Collateralized debt obligations | 43,228 | 19,663 | 1,022 | 61,869 | |||||||||||||||||||||||||
Other debt securities | 136,603 | 2,247 | 26,900 | 111,950 | |||||||||||||||||||||||||
Equity securities | 98,945 | 14,921 | 3,420 | 110,446 | |||||||||||||||||||||||||
4,643,070 | 253,619 | 157,252 | 4,739,437 | ||||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 182,103 | 7,647 | 27 | 189,723 | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 597,340 | 31,727 | — | 629,067 | |||||||||||||||||||||||||
Privately issued | 242,378 | 160 | 94,900 | 147,638 | |||||||||||||||||||||||||
Other debt securities | 10,455 | — | — | 10,455 | |||||||||||||||||||||||||
1,032,276 | 39,534 | 94,927 | 976,883 | ||||||||||||||||||||||||||
Other securities | 302,648 | — | — | 302,648 | |||||||||||||||||||||||||
Total | $ | 5,977,994 | $ | 293,153 | $ | 252,179 | $ | 6,018,968 | |||||||||||||||||||||
Investment Ratings of All Privately Issued Mortgage-Backed Securities, Collateralized Debt Obligations and Other Debt Securities | ' | ||||||||||||||||||||||||||||
As of December 31, 2013, the latest available investment ratings of all obligations of states and political subdivisions, privately issued mortgage-backed securities, collateralized debt obligations and other debt securities were: | |||||||||||||||||||||||||||||
Amortized | Estimated | Average Credit Rating of Fair Value Amount | |||||||||||||||||||||||||||
Cost | Fair Value | A or Better | BBB | BB | B or Less | Not Rated | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 180,168 | $ | 184,104 | $ | 152,704 | $ | 6,359 | $ | 200 | $ | — | $ | 24,841 | |||||||||||||||
Privately issued mortgage-backed securities | 221,096 | 160,855 | 56,731 | — | — | 104,000 | 124 | ||||||||||||||||||||||
Collateralized debt obligations | 42,274 | 63,083 | 11,005 | 3,684 | 8,904 | 39,490 | — | ||||||||||||||||||||||
Other debt securities | 146,741 | 128,998 | 12,073 | 56,481 | 28,966 | 21,300 | 10,178 | ||||||||||||||||||||||
Total | $ | 590,279 | $ | 537,040 | $ | 232,513 | $ | 66,524 | $ | 38,070 | $ | 164,790 | $ | 35,143 | |||||||||||||||
Amortized Cost and Estimated Fair Value of Collateralized Mortgage Obligations | ' | ||||||||||||||||||||||||||||
The amortized cost and estimated fair value of collateralized mortgage obligations included in mortgage-backed securities were as follows: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||||||||||||||
Amortized cost | $ | 231,040 | $ | 1,414,691 | |||||||||||||||||||||||||
Estimated fair value | 171,100 | 1,202,243 | |||||||||||||||||||||||||||
Changes in Credit Losses Associated with Debt Securities for Which Other-Than-Temporary Impairment Losses | ' | ||||||||||||||||||||||||||||
Changes in credit losses during 2013, 2012 and 2011 associated with debt securities for which other-than-temporary impairment losses have been recognized in earnings follows: | |||||||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Estimated credit losses — beginning balance | $ | 197,809 | $ | 285,399 | $ | 327,912 | |||||||||||||||||||||||
Additions for credit losses not previously recognized | 9,800 | 47,822 | 77,035 | ||||||||||||||||||||||||||
Reductions for increases in cash flows | — | — | (5,111 | ) | |||||||||||||||||||||||||
Reductions for realized losses | (207,441 | ) | (135,412 | ) | (114,437 | ) | |||||||||||||||||||||||
Estimated credit losses — ending balance | $ | 168 | $ | 197,809 | $ | 285,399 | |||||||||||||||||||||||
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | ' | ||||||||||||||||||||||||||||
At December 31, 2013, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows: | |||||||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Debt securities available for sale: | |||||||||||||||||||||||||||||
Due in one year or less | $ | 29,839 | $ | 30,036 | |||||||||||||||||||||||||
Due after one year through five years | 16,005 | 16,617 | |||||||||||||||||||||||||||
Due after five years through ten years | 7,718 | 8,015 | |||||||||||||||||||||||||||
Due after ten years | 174,420 | 177,087 | |||||||||||||||||||||||||||
227,982 | 231,755 | ||||||||||||||||||||||||||||
Mortgage-backed securities available for sale | 4,124,903 | 4,166,936 | |||||||||||||||||||||||||||
$ | 4,352,885 | $ | 4,398,691 | ||||||||||||||||||||||||||
Debt securities held to maturity: | |||||||||||||||||||||||||||||
Due in one year or less | $ | 19,485 | $ | 19,606 | |||||||||||||||||||||||||
Due after one year through five years | 68,713 | 70,618 | |||||||||||||||||||||||||||
Due after five years through ten years | 81,486 | 83,069 | |||||||||||||||||||||||||||
Due after ten years | 8,913 | 8,913 | |||||||||||||||||||||||||||
178,597 | 182,206 | ||||||||||||||||||||||||||||
Mortgage-backed securities held to maturity | 3,787,533 | 3,677,921 | |||||||||||||||||||||||||||
$ | 3,966,130 | $ | 3,860,127 | ||||||||||||||||||||||||||
Investment Securities in Continuous Unrealized Loss Position | ' | ||||||||||||||||||||||||||||
A summary of investment securities that as of December 31, 2013 and 2012 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows: | |||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | ||||||||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||||||||
Losses | Losses | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
U.S. Treasury and federal agencies | $ | 745 | $ | (2 | ) | $ | — | $ | — | ||||||||||||||||||||
Obligations of states and political subdivisions | — | — | 558 | (6 | ) | ||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 1,697,094 | (19,225 | ) | 5,815 | (125 | ) | |||||||||||||||||||||||
Privately issued | — | — | 98 | (5 | ) | ||||||||||||||||||||||||
Collateralized debt obligations | — | — | 6,257 | (857 | ) | ||||||||||||||||||||||||
Other debt securities | 1,428 | (4 | ) | 103,602 | (19,461 | ) | |||||||||||||||||||||||
Equity securities | 159 | (227 | ) | — | — | ||||||||||||||||||||||||
1,699,426 | (19,458 | ) | 116,330 | (20,454 | ) | ||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 13,517 | (120 | ) | 1,558 | (15 | ) | |||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 2,629,950 | (65,149 | ) | — | — | ||||||||||||||||||||||||
Privately issued | — | — | 159,005 | (60,623 | ) | ||||||||||||||||||||||||
2,643,467 | (65,269 | ) | 160,563 | (60,638 | ) | ||||||||||||||||||||||||
Total | $ | 4,342,893 | $ | (84,727 | ) | $ | 276,893 | $ | (81,092 | ) | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 166 | $ | (1 | ) | $ | 683 | $ | (7 | ) | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
Government issued or guaranteed | 12,107 | (65 | ) | 8,804 | (164 | ) | |||||||||||||||||||||||
Privately issued | 121,487 | (692 | ) | 774,328 | (124,981 | ) | |||||||||||||||||||||||
Collateralized debt obligations | — | — | 6,043 | (1,022 | ) | ||||||||||||||||||||||||
Other debt securities | — | — | 95,685 | (26,900 | ) | ||||||||||||||||||||||||
Equity securities | 5,535 | (1,295 | ) | 2,956 | (2,125 | ) | |||||||||||||||||||||||
139,295 | (2,053 | ) | 888,499 | (155,199 | ) | ||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 1,026 | (5 | ) | 3,558 | (22 | ) | |||||||||||||||||||||||
Privately issued mortgage-backed securities | — | — | 147,273 | (94,900 | ) | ||||||||||||||||||||||||
1,026 | (5 | ) | 150,831 | (94,922 | ) | ||||||||||||||||||||||||
Total | $ | 140,321 | $ | (2,058 | ) | $ | 1,039,330 | $ | (250,121 | ) | |||||||||||||||||||
Loans_and_leases_Tables
Loans and leases (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Total Loans and Leases Outstanding | ' | ||||||||||||||||||||||||||||
Total loans and leases outstanding were comprised of the following: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||
Commercial, financial, etc. | $ | 17,477,238 | $ | 16,500,202 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Residential | 8,911,554 | 11,161,323 | |||||||||||||||||||||||||||
Commercial | 21,799,886 | 22,333,036 | |||||||||||||||||||||||||||
Construction | 4,457,650 | 3,772,413 | |||||||||||||||||||||||||||
Consumer | 10,280,527 | 11,550,274 | |||||||||||||||||||||||||||
Total loans | 62,926,855 | 65,317,248 | |||||||||||||||||||||||||||
Leases | |||||||||||||||||||||||||||||
Commercial | 1,398,928 | 1,472,938 | |||||||||||||||||||||||||||
Total loans and leases | 64,325,783 | 66,790,186 | |||||||||||||||||||||||||||
Less: unearned discount | (252,624 | ) | (219,229 | ) | |||||||||||||||||||||||||
Total loans and leases, net of unearned discount | $ | 64,073,159 | $ | 66,570,957 | |||||||||||||||||||||||||
Outstanding Principal Balance and Carrying Amount of Loans that is Included in Consolidated Balance Sheet | ' | ||||||||||||||||||||||||||||
The outstanding principal balance and the carrying amount of acquired loans that were recorded at fair value at the acquisition date that is included in the consolidated balance sheet were as follows: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Outstanding principal balance | $ | 4,656,811 | $ | 6,705,120 | |||||||||||||||||||||||||
Carrying amount: | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | 580,685 | 928,107 | |||||||||||||||||||||||||||
Commercial real estate | 1,541,368 | 2,567,050 | |||||||||||||||||||||||||||
Residential real estate | 576,473 | 707,309 | |||||||||||||||||||||||||||
Consumer | 1,308,926 | 1,637,887 | |||||||||||||||||||||||||||
$ | 4,007,452 | $ | 5,840,353 | ||||||||||||||||||||||||||
Summary of Changes in Accretable Yield for Acquired Loans | ' | ||||||||||||||||||||||||||||
A summary of changes in the accretable yield for acquired loans for the years ended December 31, 2013, 2012 and 2011 follows: | |||||||||||||||||||||||||||||
For Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
Purchased | Other | Purchased | Other | Purchased | Other | ||||||||||||||||||||||||
Impaired | Acquired | Impaired | Acquired | Impaired | Acquired | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 42,252 | $ | 638,272 | $ | 30,805 | $ | 807,960 | $ | 9,245 | $ | 447,505 | |||||||||||||||||
Additions | — | — | — | — | 39,358 | 648,631 | |||||||||||||||||||||||
Interest income | (36,727 | ) | (247,295 | ) | (40,551 | ) | (295,654 | ) | (26,221 | ) | (268,315 | ) | |||||||||||||||||
Reclassifications from nonaccretable balance, net | 31,705 | 149,595 | 51,998 | 148,490 | 8,629 | 1,800 | |||||||||||||||||||||||
Other(a) | — | (1,939 | ) | — | (22,524 | ) | (206 | ) | (21,661 | ) | |||||||||||||||||||
Balance at end of period | $ | 37,230 | $ | 538,633 | $ | 42,252 | $ | 638,272 | $ | 30,805 | $ | 807,960 | |||||||||||||||||
(a) | Other changes in expected cash flows including changes in interest rates and prepayment assumptions. | ||||||||||||||||||||||||||||
Summary of Current, Past Due and Nonaccrual Loans | ' | ||||||||||||||||||||||||||||
A summary of current, past due and nonaccrual loans as of December 31, 2013 and 2012 follows: | |||||||||||||||||||||||||||||
90 Days or More Past | |||||||||||||||||||||||||||||
Due and Accruing | |||||||||||||||||||||||||||||
Current | 30-89 Days | Non- | Acquired(a) | Purchased | Nonaccrual | Total | |||||||||||||||||||||||
Past Due | acquired | Impaired(b) | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 18,489,474 | $ | 77,538 | $ | 4,981 | $ | 6,778 | $ | 15,706 | $ | 110,739 | $ | 18,705,216 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 21,236,071 | 145,749 | 63,353 | 35,603 | 88,034 | 173,048 | 21,741,858 | ||||||||||||||||||||||
Residential builder and developer | 1,025,984 | 8,486 | 141 | 7,930 | 137,544 | 96,427 | 1,276,512 | ||||||||||||||||||||||
Other commercial construction | 2,986,598 | 42,234 | — | 8,031 | 57,707 | 35,268 | 3,129,838 | ||||||||||||||||||||||
Residential | 7,630,368 | 295,131 | 294,649 | 43,700 | 29,184 | 252,805 | 8,545,837 | ||||||||||||||||||||||
Residential Alt-A | 283,253 | 18,009 | — | — | — | 81,122 | 382,384 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | 5,972,365 | 40,537 | — | 27,754 | 2,617 | 78,516 | 6,121,789 | ||||||||||||||||||||||
Automobile | 1,314,246 | 29,144 | — | 366 | — | 21,144 | 1,364,900 | ||||||||||||||||||||||
Other | 2,726,522 | 47,830 | 5,386 | — | — | 25,087 | 2,804,825 | ||||||||||||||||||||||
Total | $ | 61,664,881 | $ | 704,658 | $ | 368,510 | $ | 130,162 | $ | 330,792 | $ | 874,156 | $ | 64,073,159 | |||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 17,511,052 | $ | 62,479 | $ | 23,490 | $ | 10,587 | $ | 17,437 | $ | 151,908 | $ | 17,776,953 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 21,759,997 | 118,249 | 13,111 | 54,995 | 132,962 | 193,859 | 22,273,173 | ||||||||||||||||||||||
Residential builder and developer | 757,311 | 35,419 | 3,258 | 23,909 | 187,764 | 181,865 | 1,189,526 | ||||||||||||||||||||||
Other commercial construction | 2,379,953 | 35,274 | 509 | 9,572 | 68,971 | 36,812 | 2,531,091 | ||||||||||||||||||||||
Residential | 9,811,956 | 337,969 | 313,184 | 45,124 | 36,769 | 249,314 | 10,794,316 | ||||||||||||||||||||||
Residential Alt-A | 331,021 | 19,692 | — | — | — | 95,808 | 446,521 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | 6,199,591 | 40,759 | — | 20,318 | 3,211 | 58,071 | 6,321,950 | ||||||||||||||||||||||
Automobile | 2,442,502 | 40,461 | — | 251 | — | 25,107 | 2,508,321 | ||||||||||||||||||||||
Other | 2,661,432 | 40,599 | 4,845 | 1,798 | — | 20,432 | 2,729,106 | ||||||||||||||||||||||
Total | $ | 63,854,815 | $ | 730,901 | $ | 358,397 | $ | 166,554 | $ | 447,114 | $ | 1,013,176 | $ | 66,570,957 | |||||||||||||||
(a) | Acquired loans that were recorded at fair value at acquisition date. This category does not include purchased impaired loans that are presented separately. | ||||||||||||||||||||||||||||
(b) | Accruing loans that were impaired at acquisition date and were recorded at fair value. | ||||||||||||||||||||||||||||
Loan Modification Activities that were Considered Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||
The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2013: | |||||||||||||||||||||||||||||
Recorded Investment | Financial Effects of | ||||||||||||||||||||||||||||
Modification | |||||||||||||||||||||||||||||
Number | Pre- | Post- | Recorded | Interest | |||||||||||||||||||||||||
modifica- | modifica- | Investment | (b) | ||||||||||||||||||||||||||
tion | tion | (a) | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | |||||||||||||||||||||||||||||
Principal deferral | 79 | $ | 16,389 | $ | 16,002 | $ | (387 | ) | $ | — | |||||||||||||||||||
Interest rate reduction | 1 | 104 | 335 | 231 | (54 | ) | |||||||||||||||||||||||
Other | 4 | 50,433 | 50,924 | 491 | — | ||||||||||||||||||||||||
Combination of concession types | 11 | 6,229 | 5,578 | (651 | ) | (458 | ) | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Principal deferral | 27 | 40,639 | 40,464 | (175 | ) | — | |||||||||||||||||||||||
Other | 2 | 449 | 475 | 26 | — | ||||||||||||||||||||||||
Combination of concession types | 9 | 2,649 | 3,040 | 391 | (250 | ) | |||||||||||||||||||||||
Residential builder and developer | |||||||||||||||||||||||||||||
Principal deferral | 18 | 21,423 | 20,577 | (846 | ) | — | |||||||||||||||||||||||
Other | 1 | 4,039 | 3,888 | (151 | ) | — | |||||||||||||||||||||||
Combination of concession types | 3 | 15,580 | 15,514 | (66 | ) | (535 | ) | ||||||||||||||||||||||
Other commercial construction | |||||||||||||||||||||||||||||
Principal deferral | 3 | 590 | 521 | (69 | ) | — | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Principal deferral | 32 | 3,556 | 3,821 | 265 | — | ||||||||||||||||||||||||
Other | 1 | 195 | 195 | — | — | ||||||||||||||||||||||||
Combination of concession types | 61 | 73,940 | 70,854 | (3,086 | ) | (924 | ) | ||||||||||||||||||||||
Residential Alt-A | |||||||||||||||||||||||||||||
Principal deferral | 10 | 1,900 | 1,880 | (20 | ) | — | |||||||||||||||||||||||
Combination of concession types | 19 | 2,826 | 3,148 | 322 | (790 | ) | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | |||||||||||||||||||||||||||||
Principal deferral | 10 | 859 | 861 | 2 | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 99 | 99 | — | (8 | ) | |||||||||||||||||||||||
Other | 1 | 106 | 106 | — | — | ||||||||||||||||||||||||
Combination of concession types | 28 | 2,190 | 2,190 | — | (270 | ) | |||||||||||||||||||||||
Automobile | |||||||||||||||||||||||||||||
Principal deferral | 460 | 6,148 | 6,148 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 15 | 235 | 235 | — | (22 | ) | |||||||||||||||||||||||
Other | 78 | 339 | 339 | — | — | ||||||||||||||||||||||||
Combination of concession types | 225 | 2,552 | 2,552 | — | (191 | ) | |||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
Principal deferral | 36 | 332 | 332 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 12 | 12 | — | (2 | ) | |||||||||||||||||||||||
Other | 2 | 14 | 14 | — | — | ||||||||||||||||||||||||
Combination of concession types | 120 | 4,248 | 4,248 | — | (1,187 | ) | |||||||||||||||||||||||
Total | 1,258 | $ | 258,075 | $ | 254,352 | $ | (3,723 | ) | $ | (4,691 | ) | ||||||||||||||||||
(a) | Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. | ||||||||||||||||||||||||||||
(b) | Represents the present value of interest rate concessions discounted at the effective rate of the original loan. | ||||||||||||||||||||||||||||
The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2012: | |||||||||||||||||||||||||||||
Recorded Investment | Financial Effects of | ||||||||||||||||||||||||||||
Modification | |||||||||||||||||||||||||||||
Number | Pre- | Post- | Recorded | Interest | |||||||||||||||||||||||||
modifica- | modifica- | Investment | (b) | ||||||||||||||||||||||||||
tion | tion | (a) | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | |||||||||||||||||||||||||||||
Principal deferral | 61 | $ | 23,888 | $ | 22,456 | $ | (1,432 | ) | $ | — | |||||||||||||||||||
Other | 3 | 2,967 | 3,052 | 85 | — | ||||||||||||||||||||||||
Combination of concession types | 5 | 628 | 740 | 112 | (102 | ) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Principal deferral | 24 | 22,855 | 23,059 | 204 | — | ||||||||||||||||||||||||
Interest rate reduction | 2 | 665 | 708 | 43 | (129 | ) | |||||||||||||||||||||||
Combination of concession types | 7 | 1,637 | 1,656 | 19 | (351 | ) | |||||||||||||||||||||||
Residential builder and developer | |||||||||||||||||||||||||||||
Principal deferral | 23 | 36,868 | 34,740 | (2,128 | ) | — | |||||||||||||||||||||||
Combination of concession types | 7 | 37,602 | 36,148 | (1,454 | ) | — | |||||||||||||||||||||||
Other commercial construction | |||||||||||||||||||||||||||||
Principal deferral | 6 | 81,062 | 79,312 | (1,750 | ) | — | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Principal deferral | 36 | 4,643 | 4,808 | 165 | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 109 | 109 | — | (20 | ) | |||||||||||||||||||||||
Combination of concession types | 62 | 12,886 | 13,146 | 260 | (657 | ) | |||||||||||||||||||||||
Residential Alt-A | |||||||||||||||||||||||||||||
Principal deferral | 7 | 968 | 989 | 21 | — | ||||||||||||||||||||||||
Combination of concession types | 38 | 8,525 | 8,717 | 192 | (159 | ) | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | |||||||||||||||||||||||||||||
Principal deferral | 15 | 1,285 | 1,285 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 144 | 144 | — | (6 | ) | |||||||||||||||||||||||
Combination of concession types | 29 | 2,332 | 2,332 | — | (368 | ) | |||||||||||||||||||||||
Automobile | |||||||||||||||||||||||||||||
Principal deferral | 618 | 8,347 | 8,347 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 22 | 328 | 328 | — | (24 | ) | |||||||||||||||||||||||
Other | 67 | 300 | 300 | — | — | ||||||||||||||||||||||||
Combination of concession types | 375 | 5,857 | 5,857 | — | (684 | ) | |||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
Principal deferral | 80 | 1,201 | 1,201 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 22 | 515 | 515 | — | (85 | ) | |||||||||||||||||||||||
Other | 13 | 54 | 54 | — | — | ||||||||||||||||||||||||
Combination of concession types | 84 | 1,015 | 1,015 | — | (268 | ) | |||||||||||||||||||||||
Total | 1,608 | $ | 256,681 | $ | 251,018 | $ | (5,663 | ) | $ | (2,853 | ) | ||||||||||||||||||
(a) | Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. | ||||||||||||||||||||||||||||
(b) | Represents the present value of interest rate concessions discounted at the effective rate of the original loan. | ||||||||||||||||||||||||||||
The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2011: | |||||||||||||||||||||||||||||
Recorded Investment | Financial Effects of | ||||||||||||||||||||||||||||
Modification | |||||||||||||||||||||||||||||
Number | Pre- | Post- | Recorded | Interest | |||||||||||||||||||||||||
modifica- | modifica- | Investment | (b) | ||||||||||||||||||||||||||
tion | tion | (a) | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial, financial, leasing, etc. | |||||||||||||||||||||||||||||
Principal deferral | 53 | $ | 10,703 | $ | 10,778 | $ | 75 | $ | — | ||||||||||||||||||||
Combination of concession types | 3 | 2,049 | 2,046 | (3 | ) | (654 | ) | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Principal deferral | 29 | 16,804 | 16,704 | (100 | ) | — | |||||||||||||||||||||||
Combination of concession types | 3 | 15,778 | 15,777 | (1 | ) | (1,463 | ) | ||||||||||||||||||||||
Residential builder and developer | |||||||||||||||||||||||||||||
Principal deferral | 9 | 33,208 | 26,811 | (6,397 | ) | — | |||||||||||||||||||||||
Other | 6 | 118,114 | 110,156 | (7,958 | ) | — | |||||||||||||||||||||||
Combination of concession types | 5 | 2,540 | 2,561 | 21 | — | ||||||||||||||||||||||||
Other commercial construction | |||||||||||||||||||||||||||||
Principal deferral | 3 | 8,436 | 8,553 | 117 | — | ||||||||||||||||||||||||
Combination of concession types | 3 | 65,813 | 60,973 | (4,840 | ) | — | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Principal deferral | 37 | 8,175 | 8,235 | 60 | — | ||||||||||||||||||||||||
Interest rate reduction | 14 | 1,926 | 1,991 | 65 | (318 | ) | |||||||||||||||||||||||
Combination of concession types | 111 | 19,508 | 19,934 | 426 | (1,559 | ) | |||||||||||||||||||||||
Residential Alt-A | |||||||||||||||||||||||||||||
Principal deferral | 3 | 800 | 835 | 35 | — | ||||||||||||||||||||||||
Combination of concession types | 34 | 6,813 | 6,978 | 165 | (889 | ) | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Home equity lines and loans | |||||||||||||||||||||||||||||
Principal deferral | 3 | 259 | 259 | — | — | ||||||||||||||||||||||||
Other | 3 | 86 | 86 | — | — | ||||||||||||||||||||||||
Combination of concession types | 26 | 2,156 | 2,158 | 2 | (444 | ) | |||||||||||||||||||||||
Automobile | |||||||||||||||||||||||||||||
Principal deferral | 746 | 10,053 | 10,053 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 17 | 183 | 183 | — | (13 | ) | |||||||||||||||||||||||
Other | 111 | 739 | 739 | — | — | ||||||||||||||||||||||||
Combination of concession types | 431 | 6,703 | 6,703 | — | (808 | ) | |||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
Principal deferral | 23 | 400 | 400 | — | — | ||||||||||||||||||||||||
Interest rate reduction | 1 | 8 | 8 | — | (1 | ) | |||||||||||||||||||||||
Other | 4 | 103 | 103 | — | — | ||||||||||||||||||||||||
Combination of concession types | 102 | 803 | 803 | — | (189 | ) | |||||||||||||||||||||||
Total | 1,780 | $ | 332,160 | $ | 313,827 | $ | (18,333 | ) | $ | (6,338 | ) | ||||||||||||||||||
(a) | Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. | ||||||||||||||||||||||||||||
(b) | Represents the present value of interest rate concessions discounted at the effective rate of the original loan. | ||||||||||||||||||||||||||||
Summary of Lease Financing Receivables | ' | ||||||||||||||||||||||||||||
A summary of lease financing receivables follows: | |||||||||||||||||||||||||||||
December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commercial leases: | |||||||||||||||||||||||||||||
Direct financings: | |||||||||||||||||||||||||||||
Lease payments receivable | $ | 1,052,214 | $ | 1,106,434 | |||||||||||||||||||||||||
Estimated residual value of leased assets | 85,595 | 96,468 | |||||||||||||||||||||||||||
Unearned income | (114,101 | ) | (134,428 | ) | |||||||||||||||||||||||||
Investment in direct financings | 1,023,708 | 1,068,474 | |||||||||||||||||||||||||||
Leveraged leases: | |||||||||||||||||||||||||||||
Lease payments receivable | 127,821 | 132,466 | |||||||||||||||||||||||||||
Estimated residual value of leased assets | 133,298 | 137,570 | |||||||||||||||||||||||||||
Unearned income | (47,188 | ) | (50,378 | ) | |||||||||||||||||||||||||
Investment in leveraged leases | 213,931 | 219,658 | |||||||||||||||||||||||||||
Total investment in leases. | $ | 1,237,639 | $ | 1,288,132 | |||||||||||||||||||||||||
Deferred taxes payable arising from leveraged leases | $ | 172,296 | $ | 172,026 | |||||||||||||||||||||||||
Minimum Future Lease Payments to be Received from Lease Financings | ' | ||||||||||||||||||||||||||||
At December 31, 2013, the minimum future lease payments to be received from lease financings were as follows: | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||||
2014 | $ | 268,434 | |||||||||||||||||||||||||||
2015 | 247,620 | ||||||||||||||||||||||||||||
2016 | 193,920 | ||||||||||||||||||||||||||||
2017 | 122,781 | ||||||||||||||||||||||||||||
2018 | 85,341 | ||||||||||||||||||||||||||||
Later years | 261,939 | ||||||||||||||||||||||||||||
$ | 1,180,035 | ||||||||||||||||||||||||||||
Allowance_for_credit_losses_Ta
Allowance for credit losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Changes in Allowance for Credit Losses | ' | ||||||||||||||||||||||||
Changes in the allowance for credit losses for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||
Commercial, | Real Estate | ||||||||||||||||||||||||
Financial, | |||||||||||||||||||||||||
2013 | Leasing, etc. | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 246,759 | $ | 337,101 | $ | 88,807 | $ | 179,418 | $ | 73,775 | $ | 925,860 | |||||||||||||
Provision for credit losses | 124,180 | 275 | 3,149 | 56,156 | 1,240 | 185,000 | |||||||||||||||||||
Allowance related to loans sold or securitized | — | — | — | (11,000 | ) | — | (11,000 | ) | |||||||||||||||||
Net charge-offs | |||||||||||||||||||||||||
Charge-offs | (109,329 | ) | (34,595 | ) | (23,621 | ) | (85,965 | ) | — | (253,510 | ) | ||||||||||||||
Recoveries | 11,773 | 22,197 | 10,321 | 26,035 | — | 70,326 | |||||||||||||||||||
Net charge-offs | (97,556 | ) | (12,398 | ) | (13,300 | ) | (59,930 | ) | — | (183,184 | ) | ||||||||||||||
Ending balance | $ | 273,383 | $ | 324,978 | $ | 78,656 | $ | 164,644 | $ | 75,015 | $ | 916,676 | |||||||||||||
2012 | |||||||||||||||||||||||||
Beginning balance | $ | 234,022 | $ | 367,637 | $ | 91,915 | $ | 143,121 | $ | 71,595 | $ | 908,290 | |||||||||||||
Provision for credit losses | 42,510 | 5,211 | 34,864 | 119,235 | 2,180 | 204,000 | |||||||||||||||||||
Net charge-offs | |||||||||||||||||||||||||
Charge-offs | (41,148 | ) | (41,945 | ) | (44,314 | ) | (103,348 | ) | — | (230,755 | ) | ||||||||||||||
Recoveries | 11,375 | 6,198 | 6,342 | 20,410 | — | 44,325 | |||||||||||||||||||
Net charge-offs | (29,773 | ) | (35,747 | ) | (37,972 | ) | (82,938 | ) | — | (186,430 | ) | ||||||||||||||
Ending balance | $ | 246,759 | $ | 337,101 | $ | 88,807 | $ | 179,418 | $ | 73,775 | $ | 925,860 | |||||||||||||
2011 | |||||||||||||||||||||||||
Beginning balance | $ | 212,579 | $ | 400,562 | $ | 86,351 | $ | 133,067 | $ | 70,382 | $ | 902,941 | |||||||||||||
Provision for credit losses | 66,240 | 44,404 | 57,081 | 101,062 | 1,213 | 270,000 | |||||||||||||||||||
Net charge-offs | |||||||||||||||||||||||||
Charge-offs | (55,021 | ) | (86,869 | ) | (58,351 | ) | (109,246 | ) | — | (309,487 | ) | ||||||||||||||
Recoveries | 10,224 | 9,540 | 6,834 | 18,238 | — | 44,836 | |||||||||||||||||||
Net charge-offs | (44,797 | ) | (77,329 | ) | (51,517 | ) | (91,008 | ) | — | (264,651 | ) | ||||||||||||||
Ending balance | $ | 234,022 | $ | 367,637 | $ | 91,915 | $ | 143,121 | $ | 71,595 | $ | 908,290 | |||||||||||||
Impaired Loans and Leases | ' | ||||||||||||||||||||||||
The following tables provide information with respect to loans and leases that were considered impaired as of December 31, 2013 and 2012 and for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Recorded | Unpaid | Related | Recorded | Unpaid | Related | ||||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | ||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 90,293 | $ | 112,092 | $ | 24,614 | $ | 127,282 | $ | 149,534 | $ | 33,829 | |||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 113,570 | 132,325 | 19,520 | 121,542 | 143,846 | 23,641 | |||||||||||||||||||
Residential builder and developer | 33,311 | 55,122 | 4,379 | 115,306 | 216,218 | 25,661 | |||||||||||||||||||
Other commercial construction | 86,260 | 90,515 | 4,022 | 73,544 | 76,869 | 6,836 | |||||||||||||||||||
Residential | 96,508 | 114,521 | 7,146 | 103,451 | 121,819 | 3,521 | |||||||||||||||||||
Residential Alt-A | 111,911 | 124,528 | 14,000 | 128,891 | 141,940 | 17,000 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 13,672 | 14,796 | 3,312 | 12,360 | 13,567 | 2,254 | |||||||||||||||||||
Automobile | 40,441 | 40,441 | 11,074 | 49,210 | 49,210 | 14,273 | |||||||||||||||||||
Other | 17,660 | 17,660 | 4,541 | 14,408 | 14,408 | 5,667 | |||||||||||||||||||
603,626 | 702,000 | 92,608 | 745,994 | 927,411 | 132,682 | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | 28,093 | 33,095 | — | 32,631 | 42,199 | — | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 65,271 | 84,333 | — | 78,380 | 100,337 | — | |||||||||||||||||||
Residential builder and developer | 72,366 | 104,768 | — | 74,307 | 105,438 | — | |||||||||||||||||||
Other commercial construction | 7,369 | 11,493 | — | 23,018 | 23,532 | — | |||||||||||||||||||
Residential | 84,144 | 95,358 | — | 86,342 | 96,448 | — | |||||||||||||||||||
Residential Alt-A | 28,357 | 52,211 | — | 31,354 | 58,768 | — | |||||||||||||||||||
285,600 | 381,258 | — | 326,032 | 426,722 | — | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | 118,386 | 145,187 | 24,614 | 159,913 | 191,733 | 33,829 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 178,841 | 216,658 | 19,520 | 199,922 | 244,183 | 23,641 | |||||||||||||||||||
Residential builder and developer | 105,677 | 159,890 | 4,379 | 189,613 | 321,656 | 25,661 | |||||||||||||||||||
Other commercial construction | 93,629 | 102,008 | 4,022 | 96,562 | 100,401 | 6,836 | |||||||||||||||||||
Residential | 180,652 | 209,879 | 7,146 | 189,793 | 218,267 | 3,521 | |||||||||||||||||||
Residential Alt-A | 140,268 | 176,739 | 14,000 | 160,245 | 200,708 | 17,000 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 13,672 | 14,796 | 3,312 | 12,360 | 13,567 | 2,254 | |||||||||||||||||||
Automobile | 40,441 | 40,441 | 11,074 | 49,210 | 49,210 | 14,273 | |||||||||||||||||||
Other | 17,660 | 17,660 | 4,541 | 14,408 | 14,408 | 5,667 | |||||||||||||||||||
Total | $ | 889,226 | $ | 1,083,258 | $ | 92,608 | $ | 1,072,026 | $ | 1,354,133 | $ | 132,682 | |||||||||||||
Interest Income Recognized on Loans | ' | ||||||||||||||||||||||||
Year Ended | Year Ended | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Average | Interest Income | Average | Interest Income | ||||||||||||||||||||||
Recorded | Recognized | Recorded | Recognized | ||||||||||||||||||||||
Investment | Total | Cash | Investment | Total | Cash | ||||||||||||||||||||
Basis | Basis | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 155,188 | $ | 7,197 | $ | 7,197 | $ | 151,314 | $ | 2,938 | $ | 2,938 | |||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 197,533 | 4,852 | 4,852 | 185,171 | 2,834 | 2,834 | |||||||||||||||||||
Residential builder and developer | 147,288 | 1,043 | 796 | 249,191 | 1,563 | 1,102 | |||||||||||||||||||
Other commercial construction | 96,475 | 5,248 | 5,248 | 99,672 | 5,020 | 5,020 | |||||||||||||||||||
Residential | 183,059 | 6,203 | 4,111 | 132,888 | 5,284 | 3,300 | |||||||||||||||||||
Residential Alt-A | 149,461 | 6,784 | 2,341 | 171,546 | 7,175 | 2,226 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 12,811 | 683 | 183 | 11,322 | 663 | 179 | |||||||||||||||||||
Automobile | 44,116 | 2,916 | 515 | 51,650 | 3,470 | 724 | |||||||||||||||||||
Other | 15,710 | 634 | 208 | 11,028 | 472 | 197 | |||||||||||||||||||
Total | $ | 1,001,641 | $ | 35,560 | $ | 25,451 | $ | 1,063,782 | $ | 29,419 | $ | 18,520 | |||||||||||||
Year Ended | |||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||
Interest Income | |||||||||||||||||||||||||
Recognized | |||||||||||||||||||||||||
Average | Total | Cash | |||||||||||||||||||||||
Recorded | Basis | ||||||||||||||||||||||||
Investment | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial, financial, leasing, etc. | $ | 163,485 | $ | 3,306 | $ | 3,278 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Commercial | 189,837 | 2,060 | 1,985 | ||||||||||||||||||||||
Residential builder and developer | 317,296 | 1,948 | 860 | ||||||||||||||||||||||
Other commercial construction | 105,947 | 926 | 684 | ||||||||||||||||||||||
Residential | 99,107 | 4,271 | 2,286 | ||||||||||||||||||||||
Residential Alt-A | 196,161 | 7,713 | 1,965 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity lines and loans | 11,428 | 681 | 106 | ||||||||||||||||||||||
Automobile | 56,862 | 3,850 | 1,060 | ||||||||||||||||||||||
Other | 5,006 | 273 | 89 | ||||||||||||||||||||||
Total | $ | 1,145,129 | $ | 25,028 | $ | 12,313 | |||||||||||||||||||
Summary of Loan Grades | ' | ||||||||||||||||||||||||
The following table summarizes the loan grades applied to the various classes of the Company’s commercial loans and commercial real estate loans. | |||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Commercial, | Commercial | Residential | Other | ||||||||||||||||||||||
Financial, | Builder and | Commercial | |||||||||||||||||||||||
Leasing, etc | Developer | Construction | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Pass | $ | 17,894,592 | $ | 20,972,257 | $ | 1,107,144 | $ | 3,040,106 | |||||||||||||||||
Criticized accrual | 699,885 | 596,553 | 72,941 | 54,464 | |||||||||||||||||||||
Criticized nonaccrual | 110,739 | 173,048 | 96,427 | 35,268 | |||||||||||||||||||||
Total | $ | 18,705,216 | $ | 21,741,858 | $ | 1,276,512 | $ | 3,129,838 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Pass | $ | 16,889,753 | $ | 21,275,182 | $ | 922,141 | $ | 2,307,436 | |||||||||||||||||
Criticized accrual | 735,292 | 804,132 | 85,520 | 186,843 | |||||||||||||||||||||
Criticized nonaccrual | 151,908 | 193,859 | 181,865 | 36,812 | |||||||||||||||||||||
Total | $ | 17,776,953 | $ | 22,273,173 | $ | 1,189,526 | $ | 2,531,091 | |||||||||||||||||
Allocation of Allowance for Credit Losses on Basis of Company's Impairment Methodology | ' | ||||||||||||||||||||||||
The allocation of the allowance for credit losses summarized on the basis of the Company’s impairment methodology was as follows: | |||||||||||||||||||||||||
Commercial, | Real Estate | ||||||||||||||||||||||||
Financial, | |||||||||||||||||||||||||
Leasing, etc. | Commercial | Residential | Consumer | Total | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 24,614 | $ | 27,563 | $ | 21,127 | $ | 18,927 | $ | 92,231 | |||||||||||||||
Collectively evaluated for impairment | 246,096 | 296,781 | 55,864 | 144,210 | 742,951 | ||||||||||||||||||||
Purchased impaired | 2,673 | 634 | 1,665 | 1,507 | 6,479 | ||||||||||||||||||||
Allocated | $ | 273,383 | $ | 324,978 | $ | 78,656 | $ | 164,644 | 841,661 | ||||||||||||||||
Unallocated | 75,015 | ||||||||||||||||||||||||
Total | $ | 916,676 | |||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 33,669 | $ | 55,291 | $ | 20,502 | $ | 22,194 | $ | 131,656 | |||||||||||||||
Collectively evaluated for impairment | 212,930 | 280,789 | 66,684 | 156,661 | 717,064 | ||||||||||||||||||||
Purchased impaired | 160 | 1,021 | 1,621 | 563 | 3,365 | ||||||||||||||||||||
Allocated | $ | 246,759 | $ | 337,101 | $ | 88,807 | $ | 179,418 | 852,085 | ||||||||||||||||
Unallocated | 73,775 | ||||||||||||||||||||||||
Total | $ | 925,860 | |||||||||||||||||||||||
Recorded Investment in Loans and Leases on Basis of Company's Impairment Methodology | ' | ||||||||||||||||||||||||
The recorded investment in loans and leases summarized on the basis of the Company’s impairment methodology was as follows: | |||||||||||||||||||||||||
Commercial, | Real Estate | ||||||||||||||||||||||||
Financial, | |||||||||||||||||||||||||
Leasing, etc. | Commercial | Residential | Consumer | Total | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 118,386 | $ | 376,339 | $ | 320,360 | $ | 71,773 | $ | 886,858 | |||||||||||||||
Collectively evaluated for impairment | 18,571,124 | 25,488,584 | 8,578,677 | 10,217,124 | 62,855,509 | ||||||||||||||||||||
Purchased impaired | 15,706 | 283,285 | 29,184 | 2,617 | 330,792 | ||||||||||||||||||||
Total | $ | 18,705,216 | $ | 26,148,208 | $ | 8,928,221 | $ | 10,291,514 | $ | 64,073,159 | |||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 159,761 | $ | 480,335 | $ | 349,477 | $ | 75,978 | $ | 1,065,551 | |||||||||||||||
Collectively evaluated for impairment | 17,599,755 | 25,123,758 | 10,854,591 | 11,480,188 | 65,058,292 | ||||||||||||||||||||
Purchased impaired | 17,437 | 389,697 | 36,769 | 3,211 | 447,114 | ||||||||||||||||||||
Total | $ | 17,776,953 | $ | 25,993,790 | $ | 11,240,837 | $ | 11,559,377 | $ | 66,570,957 | |||||||||||||||
Premises_and_equipment_Tables
Premises and equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Summary of Premises and Equipment | ' | ||||||||
The detail of premises and equipment was as follows: | |||||||||
December 31 | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Land | $ | 84,220 | $ | 84,545 | |||||
Buildings — owned | 402,065 | 393,527 | |||||||
Buildings — capital leases | 1,131 | 1,131 | |||||||
Leasehold improvements | 208,947 | 198,498 | |||||||
Furniture and equipment — owned | 547,824 | 465,113 | |||||||
Furniture and equipment — capital leases | 17,703 | 17,915 | |||||||
1,261,890 | 1,160,729 | ||||||||
Less: accumulated depreciation and amortization | |||||||||
Owned assets | 617,228 | 559,948 | |||||||
Capital leases | 11,142 | 6,129 | |||||||
628,370 | 566,077 | ||||||||
Premises and equipment, net | $ | 633,520 | $ | 594,652 | |||||
Capitalized_servicing_assets_T
Capitalized servicing assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Transfers And Servicing [Abstract] | ' | ||||||||||||||||||||||||
Servicing Asset at Amortized Cost | ' | ||||||||||||||||||||||||
Changes in capitalized servicing assets were as follows: | |||||||||||||||||||||||||
Residential Mortgage Loans | Commercial Mortgage Loans | ||||||||||||||||||||||||
For Year Ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 104,855 | $ | 131,264 | $ | 92,066 | $ | 59,978 | $ | 51,250 | $ | 42,613 | |||||||||||||
Originations | 52,375 | 14,577 | 13,920 | 26,754 | 19,653 | 17,613 | |||||||||||||||||||
Purchases | 272 | 109 | 61,642 | — | — | — | |||||||||||||||||||
Recognized in loan securitization transactions | 13,696 | — | — | — | — | — | |||||||||||||||||||
Amortization | (44,821 | ) | (41,095 | ) | (36,364 | ) | (14,233 | ) | (10,925 | ) | (8,976 | ) | |||||||||||||
126,377 | 104,855 | 131,264 | 72,499 | 59,978 | 51,250 | ||||||||||||||||||||
Valuation allowance | (300 | ) | (4,500 | ) | (1,800 | ) | — | — | — | ||||||||||||||||
Ending balance, net | $ | 126,077 | $ | 100,355 | $ | 129,464 | $ | 72,499 | $ | 59,978 | $ | 51,250 | |||||||||||||
Other | Total | ||||||||||||||||||||||||
For Year Ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 8,143 | $ | 15,678 | $ | 26,197 | $ | 172,976 | $ | 198,192 | $ | 160,876 | |||||||||||||
Originations | — | — | — | 79,129 | 34,230 | 31,533 | |||||||||||||||||||
Purchases | — | — | — | 272 | 109 | 61,642 | |||||||||||||||||||
Recognized in loan securitization transactions | 9,382 | — | — | 23,078 | — | — | |||||||||||||||||||
Amortization | (6,300 | ) | (7,535 | ) | (10,519 | ) | (65,354 | ) | (59,555 | ) | (55,859 | ) | |||||||||||||
11,225 | 8,143 | 15,678 | 210,101 | 172,976 | 198,192 | ||||||||||||||||||||
Valuation allowance | — | — | — | (300 | ) | (4,500 | ) | (1,800 | ) | ||||||||||||||||
Ending balance, net | $ | 11,225 | $ | 8,143 | $ | 15,678 | $ | 209,801 | $ | 168,476 | $ | 196,392 | |||||||||||||
Economic Assumptions Used to Determine Fair Value of Capitalized Servicing Rights and Sensitivity of Value to Changes in Assumptions | ' | ||||||||||||||||||||||||
Residential | Commercial | ||||||||||||||||||||||||
Weighted-average prepayment speeds | 11.39 | % | |||||||||||||||||||||||
Impact on fair value of 10% adverse change | $ | (11,283,000 | ) | ||||||||||||||||||||||
Impact on fair value of 20% adverse change | (21,664,000 | ) | |||||||||||||||||||||||
Weighted-average OAS | 7.7 | % | |||||||||||||||||||||||
Impact on fair value of 10% adverse change | $ | (5,714,000 | ) | ||||||||||||||||||||||
Impact on fair value of 20% adverse change | (11,155,000 | ) | |||||||||||||||||||||||
Weighted-average discount rate | 18 | % | |||||||||||||||||||||||
Impact on fair value of 10% adverse change | $ | (3,677,000 | ) | ||||||||||||||||||||||
Impact on fair value of 20% adverse change | (7,096,000 | ) |
Goodwill_and_other_intangible_1
Goodwill and other intangible assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Schedule of Finite-Lived Intangible Assets | ' | ||||||||||||
Total amortizing intangible assets were comprised of the following: | |||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||
Amount | Amortization | Amount | |||||||||||
(In thousands) | |||||||||||||
December 31, 2013 | |||||||||||||
Core deposit | $ | 755,794 | $ | 705,518 | $ | 50,276 | |||||||
Other | 177,268 | 158,693 | 18,575 | ||||||||||
Total | $ | 933,062 | $ | 864,211 | $ | 68,851 | |||||||
December 31, 2012 | |||||||||||||
Core deposit | $ | 755,794 | $ | 670,940 | $ | 84,854 | |||||||
Other | 177,268 | 146,359 | 30,909 | ||||||||||
Total | $ | 933,062 | $ | 817,299 | $ | 115,763 | |||||||
Estimated Amortization Expense in Future Years | ' | ||||||||||||
Estimated amortization expense in future years for such intangible assets is as follows: | |||||||||||||
(In thousands) | |||||||||||||
Year ending December 31: | |||||||||||||
2014 | $ | 33,825 | |||||||||||
2015 | 20,938 | ||||||||||||
2016 | 10,052 | ||||||||||||
2017 | 3,303 | ||||||||||||
2018 | 733 | ||||||||||||
$ | 68,851 | ||||||||||||
Summary of Goodwill Assigned to Reportable Segments for Purposes of Testing for Impairment | ' | ||||||||||||
A summary of goodwill assigned to each of the Company’s reportable segments as of December 31, 2013 and 2012 for purposes of testing for impairment is as follows. | |||||||||||||
(In thousands) | |||||||||||||
Business Banking | $ | 748,907 | |||||||||||
Commercial Banking | 907,524 | ||||||||||||
Commercial Real Estate | 349,197 | ||||||||||||
Discretionary Portfolio | — | ||||||||||||
Residential Mortgage Banking | — | ||||||||||||
Retail Banking | 1,144,404 | ||||||||||||
All Other | 374,593 | ||||||||||||
Total | $ | 3,524,625 | |||||||||||
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Amounts and Interest Rates of Short-term Borrowings | ' | ||||||||||||
The amounts and interest rates of short-term borrowings were as follows: | |||||||||||||
Federal Funds | Other | Total | |||||||||||
Purchased | Short-term | ||||||||||||
and | Borrowings | ||||||||||||
Repurchase | |||||||||||||
Agreements | |||||||||||||
(Dollars in thousands) | |||||||||||||
At December 31, 2013 | |||||||||||||
Amount outstanding | $ | 260,455 | $ | — | $ | 260,455 | |||||||
Weighted-average interest rate | 0.04 | % | — | 0.04 | % | ||||||||
For the year ended December 31, 2013 | |||||||||||||
Highest amount at a month-end | $ | 563,879 | $ | — | |||||||||
Daily-average amount outstanding | 390,034 | — | $ | 390,034 | |||||||||
Weighted-average interest rate | 0.11 | % | — | 0.11 | % | ||||||||
At December 31, 2012 | |||||||||||||
Amount outstanding | $ | 1,074,482 | $ | — | $ | 1,074,482 | |||||||
Weighted-average interest rate | 0.11 | % | — | 0.11 | % | ||||||||
For the year ended December 31, 2012 | |||||||||||||
Highest amount at a month-end | $ | 1,224,194 | $ | 50,016 | |||||||||
Daily-average amount outstanding | 822,859 | 16,043 | $ | 838,902 | |||||||||
Weighted-average interest rate | 0.15 | % | 0.57 | % | 0.15 | % | |||||||
At December 31, 2011 | |||||||||||||
Amount outstanding | $ | 732,059 | $ | 50,023 | $ | 782,082 | |||||||
Weighted-average interest rate | 0.04 | % | 0.7 | % | 0.09 | % | |||||||
For the year ended December 31, 2011 | |||||||||||||
Highest amount at a month-end | $ | 1,389,237 | $ | 142,927 | |||||||||
Daily-average amount outstanding | 706,749 | 120,059 | $ | 826,808 | |||||||||
Weighted-average interest rate | 0.11 | % | 0.18 | % | 0.12 | % | |||||||
Lines of Credit Under Formal Agreements | ' | ||||||||||||
At December 31, 2013, the Company had lines of credit under formal agreements as follows: | |||||||||||||
M&T | M&T Bank | Wilmington | |||||||||||
Trust, N.A. | |||||||||||||
(In thousands) | |||||||||||||
Outstanding borrowings | $ | — | $ | 28,868 | $ | — | |||||||
Unused | 30,000 | 19,838,117 | 300,710 | ||||||||||
Long-term Borrowings | ' | ||||||||||||
Long-term borrowings were as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Senior notes of M&T Bank: | |||||||||||||
Variable rate due 2016 | $ | 300,000 | $ | — | |||||||||
1.45% due 2018 | 502,479 | — | |||||||||||
Advances from FHLB: | |||||||||||||
Fixed rates | 29,079 | 30,066 | |||||||||||
Agreements to repurchase securities | 1,400,000 | 1,400,000 | |||||||||||
Subordinated notes of Wilmington Trust Corporation | |||||||||||||
(a wholly owned subsidiary of M&T): | |||||||||||||
4.875% due 2013 | — | 251,298 | |||||||||||
8.50% due 2018 | 224,067 | 230,255 | |||||||||||
Subordinated notes of M&T Bank: | |||||||||||||
6.625% due 2017 | 437,582 | 455,439 | |||||||||||
9.50% due 2018 | 50,000 | 50,000 | |||||||||||
5.585% due 2020, variable rate commencing 2015 | 392,964 | 385,669 | |||||||||||
5.629% due 2021, variable rate commencing 2016 | 559,378 | 583,097 | |||||||||||
Junior subordinated debentures of M&T associated with preferred capital securities: | |||||||||||||
Fixed rates: | |||||||||||||
M&T Capital Trust I — 8.234%, due 2027 | 154,640 | 154,640 | |||||||||||
M&T Capital Trust II — 8.277%, due 2027 | 103,093 | 103,093 | |||||||||||
M&T Capital Trust III — 9.25%, due 2027 | 66,109 | 66,434 | |||||||||||
BSB Capital Trust I — 8.125%, due 2028 | 15,589 | 15,566 | |||||||||||
Provident Trust I — 8.29%, due 2028 | 25,051 | 24,746 | |||||||||||
Southern Financial Statutory Trust I — 10.60%, due 2030 | 6,521 | 6,496 | |||||||||||
M&T Capital Trust IV — 8.50%, due 2068 | 350,010 | 350,010 | |||||||||||
Variable rates: | |||||||||||||
First Maryland Capital I — due 2027 | 144,641 | 144,102 | |||||||||||
First Maryland Capital II — due 2027 | 145,964 | 145,301 | |||||||||||
Allfirst Asset Trust — due 2029 | 96,059 | 95,913 | |||||||||||
BSB Capital Trust III — due 2033 | 15,464 | 15,464 | |||||||||||
Provident Trust III — due 2033 | 52,176 | 51,694 | |||||||||||
Southern Financial Capital Trust III — due 2033 | 7,747 | 7,683 | |||||||||||
Other | 30,257 | 40,792 | |||||||||||
$ | 5,108,870 | $ | 4,607,758 | ||||||||||
Maturity of Long-term Borrowings | ' | ||||||||||||
Long-term borrowings at December 31, 2013 mature as follows: | |||||||||||||
(In thousands) | |||||||||||||
Year ending December 31: | |||||||||||||
2014 | $ | 22,021 | |||||||||||
2015 | 5,756 | ||||||||||||
2016 | 1,105,075 | ||||||||||||
2017 | 1,041,871 | ||||||||||||
2018 | 777,991 | ||||||||||||
Later years | 2,156,156 | ||||||||||||
$ | 5,108,870 | ||||||||||||
Shareholders_equity_Tables
Shareholders' equity (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Issued and Outstanding Preferred Stock | ' | ||||||||||||||||
Issued and outstanding preferred stock of M&T is presented below: | |||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Carrying | Shares | Carrying | ||||||||||||||
Issued and | Value | Issued and | Value | ||||||||||||||
Outstanding | Outstanding | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Series A(a) | |||||||||||||||||
Fixed Rate Cumulative Perpetual Preferred Stock, Series A, $1,000 liquidation preference per share | 230,000 | $ | 230,000 | 230,000 | $ | 226,965 | |||||||||||
Series C(a) | |||||||||||||||||
Fixed Rate Cumulative Perpetual Preferred Stock, Series C, $1,000 liquidation preference per share | 151,500 | 151,500 | 151,500 | 145,535 | |||||||||||||
Series D(b) | |||||||||||||||||
Fixed Rate Non-cumulative Perpetual Preferred Stock, Series D, $10,000 liquidation preference per share | 50,000 | 500,000 | 50,000 | 500,000 | |||||||||||||
(a) | Shares were originally issued as part of the TARP of the U.S Treasury. Cash proceeds were allocated between the preferred stock and a ten-year warrant to purchase M&T common stock (Series A — 1,218,522 common shares at $73.86 per share, Series C — 407,542 common shares at $55.76 per share). The U.S. Treasury sold all of the shares of M&T preferred stock that it held in August 2012. In connection with that sale, the terms of the preferred stock were modified such that dividends, if declared, were paid quarterly at a rate of 5% per year through November 14, 2013 and at 6.375% thereafter, and M&T agreed to not redeem the preferred shares until on or after November 15, 2018. In December 2012, the U.S. Treasury sold to other investors the Series A warrants for $26.50 per warrant. In March 2013, the U.S. Treasury exercised the Series C warrants in a “cashless” exercise, resulting in the issuance of 186,589 common shares. During 2013, 69,127 of the Series A warrants were exercised in “cashless” exercises, resulting in the issuance of 25,427 common shares. Remaining outstanding Series A warrants were 1,149,395 at December 31, 2013. | ||||||||||||||||
(b) | Dividends, if declared, will be paid semi-annually at a rate of 6.875% per year. The shares are redeemable in whole or in part on or after June 15, 2016. Notwithstanding M&T’s option to redeem the shares, if an event occurs such that the shares no longer qualify as Tier 1 capital, M&T may redeem all of the shares within 90 days following that occurrence. |
Stockbased_compensation_plans_
Stock-based compensation plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Restricted Stock and Restricted Stock Unit Activity | ' | ||||||||||||||||
A summary of restricted stock and restricted stock unit activity follows: | |||||||||||||||||
Restricted | Weighted- | Restricted | Weighted- | ||||||||||||||
Stock Units | Average | Stock | Average | ||||||||||||||
Outstanding | Grant Price | Outstanding | Grant Price | ||||||||||||||
Unvested at January 1, 2013 | 799,495 | $ | 70.28 | 1,095,631 | $ | 71.01 | |||||||||||
Granted | 315,316 | 102.69 | 269,755 | 102.75 | |||||||||||||
Vested | (341,348 | ) | 56.43 | (446,882 | ) | 56.74 | |||||||||||
Cancelled | (2,633 | ) | 96.9 | (55,809 | ) | 87.05 | |||||||||||
Unvested at December 31, 2013 | 770,830 | $ | 89.58 | 862,695 | $ | 87.29 | |||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
A summary of stock option activity follows: | |||||||||||||||||
Stock | Weighted-Average | Aggregate | |||||||||||||||
Options | Intrinsic Value | ||||||||||||||||
Outstanding | Exercise | Life | (In thousands) | ||||||||||||||
Price | (In Years) | ||||||||||||||||
Outstanding at January 1, 2013 | 7,033,359 | $ | 103.3 | ||||||||||||||
Granted | 100 | 102.69 | |||||||||||||||
Exercised | (1,998,841 | ) | 95.27 | ||||||||||||||
Expired | (153,857 | ) | 138.46 | ||||||||||||||
Outstanding at December 31, 2013 | 4,880,761 | $ | 105.48 | 2.8 | $ | 66,464 | |||||||||||
Exercisable at December 31, 2013 | 4,879,148 | $ | 105.49 | 2.8 | $ | 66,400 | |||||||||||
Pension_plans_and_other_postre1
Pension plans and other postretirement benefits (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Net Periodic Pension Expense for Defined Benefit Plans | ' | ||||||||||||||||||||||||
Net periodic pension expense for defined benefit plans consisted of the following: | |||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Service cost | $ | 24,360 | $ | 29,549 | $ | 28,828 | |||||||||||||||||||
Interest cost on benefit obligation | 60,130 | 62,037 | 58,545 | ||||||||||||||||||||||
Expected return on plan assets | (87,353 | ) | (70,511 | ) | (60,700 | ) | |||||||||||||||||||
Amortization of prior service credit | (6,556 | ) | (6,559 | ) | (6,559 | ) | |||||||||||||||||||
Recognized net actuarial loss | 41,076 | 37,386 | 20,530 | ||||||||||||||||||||||
Net periodic pension expense | $ | 31,657 | $ | 51,902 | $ | 40,644 | |||||||||||||||||||
Net other postretirement benefits expense for defined benefit plans consisted of the following: | |||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Service cost | $ | 742 | $ | 668 | $ | 535 | |||||||||||||||||||
Interest cost on benefit obligation | 2,691 | 3,737 | 3,761 | ||||||||||||||||||||||
Amortization of prior service cost (credit) | (1,359 | ) | 21 | 107 | |||||||||||||||||||||
Recognized net actuarial loss | 360 | 530 | 36 | ||||||||||||||||||||||
Net other postretirement benefits expense | $ | 2,434 | $ | 4,956 | $ | 4,439 | |||||||||||||||||||
Data Relating to Funding Position of Defined Benefit Plans | ' | ||||||||||||||||||||||||
Data relating to the funding position of the defined benefit plans were as follows: | |||||||||||||||||||||||||
Pension Benefits | Other | ||||||||||||||||||||||||
Postretirement Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 1,644,567 | $ | 1,496,490 | $ | 74,966 | $ | 90,104 | |||||||||||||||||
Service cost | 24,360 | 29,549 | 742 | 668 | |||||||||||||||||||||
Interest cost | 60,130 | 62,037 | 2,691 | 3,737 | |||||||||||||||||||||
Plan participants’ contributions | — | — | 3,069 | 3,765 | |||||||||||||||||||||
Amendments | — | — | — | (13,313 | ) | ||||||||||||||||||||
Actuarial (gain) loss | (184,181 | ) | 116,237 | (12,830 | ) | (182 | ) | ||||||||||||||||||
Settlements/curtailments | — | (320 | ) | — | — | ||||||||||||||||||||
Medicare Part D reimbursement | — | — | 509 | 918 | |||||||||||||||||||||
Benefits paid | (60,683 | ) | (59,426 | ) | (8,555 | ) | (10,731 | ) | |||||||||||||||||
Benefit obligation at end of year | 1,484,193 | 1,644,567 | 60,592 | 74,966 | |||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 1,408,771 | 1,117,972 | — | — | |||||||||||||||||||||
Actual return on plan assets | 150,795 | 143,430 | — | — | |||||||||||||||||||||
Employer contributions | 7,801 | 207,115 | 4,977 | 6,048 | |||||||||||||||||||||
Plan participants’ contributions | — | — | 3,069 | 3,765 | |||||||||||||||||||||
Medicare Part D reimbursement | — | — | 509 | 918 | |||||||||||||||||||||
Settlements | — | (320 | ) | — | — | ||||||||||||||||||||
Benefits and other payments | (60,683 | ) | (59,426 | ) | (8,555 | ) | (10,731 | ) | |||||||||||||||||
Fair value of plan assets at end of year | 1,506,684 | 1,408,771 | — | — | |||||||||||||||||||||
Funded status | $ | 22,491 | $ | (235,796 | ) | $ | (60,592 | ) | $ | (74,966 | ) | ||||||||||||||
Assets and liabilities recognized in the consolidated balance sheet were: | |||||||||||||||||||||||||
Net prepaid asset | $ | 139,576 | $ | — | $ | — | $ | — | |||||||||||||||||
Accrued liabilities | (117,085 | ) | (235,796 | ) | (60,592 | ) | (74,966 | ) | |||||||||||||||||
Amounts recognized in accumulated other comprehensive income (“AOCI”) were: | |||||||||||||||||||||||||
Net loss (gain) | $ | 191,386 | $ | 480,084 | $ | (1,056 | ) | $ | 12,134 | ||||||||||||||||
Net prior service cost | (16,899 | ) | (23,455 | ) | (11,814 | ) | (13,173 | ) | |||||||||||||||||
Pre-tax adjustment to AOCI | 174,487 | 456,629 | (12,870 | ) | (1,039 | ) | |||||||||||||||||||
Taxes. | (68,486 | ) | (179,227 | ) | 5,051 | 408 | |||||||||||||||||||
Net adjustment to AOCI. | $ | 106,001 | $ | 277,402 | $ | (7,819 | ) | $ | (631 | ) | |||||||||||||||
Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income | ' | ||||||||||||||||||||||||
The table below reflects the changes in plan assets and benefit obligations recognized in other comprehensive income related to the Company’s postretirement benefit plans. | |||||||||||||||||||||||||
Pension Plans | Other | Total | |||||||||||||||||||||||
Postretirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Net gain | $ | (247,622 | ) | $ | (12,830 | ) | $ | (260,452 | ) | ||||||||||||||||
Amortization of prior service credit | 6,556 | 1,359 | 7,915 | ||||||||||||||||||||||
Amortization of loss | (41,076 | ) | (360 | ) | (41,436 | ) | |||||||||||||||||||
Total recognized in other comprehensive income, pre-tax | $ | (282,142 | ) | $ | (11,831 | ) | $ | (293,973 | ) | ||||||||||||||||
2012 | |||||||||||||||||||||||||
Net loss (gain) | $ | 43,318 | $ | (182 | ) | $ | 43,136 | ||||||||||||||||||
Prior service credit | — | (13,313 | ) | (13,313 | ) | ||||||||||||||||||||
Amortization of prior service (cost) credit | 6,559 | (21 | ) | 6,538 | |||||||||||||||||||||
Amortization of loss | (37,386 | ) | (530 | ) | (37,916 | ) | |||||||||||||||||||
Total recognized in other comprehensive income, pre-tax | $ | 12,491 | $ | (14,046 | ) | $ | (1,555 | ) | |||||||||||||||||
Amortization of Amounts in Accumulated Other Comprehensive Income Expected to be Recognized as Components of Net Periodic Benefit Expense | ' | ||||||||||||||||||||||||
The following table reflects the amortization of amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit expense during 2014: | |||||||||||||||||||||||||
Pension Plans | Other | ||||||||||||||||||||||||
Postretirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Amortization of net prior service credit | $ | (6,552 | ) | $ | (1,359 | ) | |||||||||||||||||||
Amortization of net loss | 13,460 | — | |||||||||||||||||||||||
Assumed Weighted-Average Rates Used to Determine Benefit Obligations | ' | ||||||||||||||||||||||||
The assumed weighted-average rates used to determine benefit obligations at December 31 were: | |||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||
Benefits | Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Discount rate | 4.75 | % | 3.75 | % | 4.75 | % | 3.75 | % | |||||||||||||||||
Rate of increase in future compensation levels | 4.42 | % | 4.5 | % | — | — | |||||||||||||||||||
Assumed Weighted-Average Rates Used to Determine Net Benefit Expense | ' | ||||||||||||||||||||||||
The assumed weighted-average rates used to determine net benefit expense for the years ended December 31 were: | |||||||||||||||||||||||||
Pension Benefits | Other | ||||||||||||||||||||||||
Postretirement Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Discount rate | 3.75 | % | 4.25 | % | 5.25 | % | 3.75 | % | 4.25 | % | 5.25 | % | |||||||||||||
Long-term rate of return on plan assets | 6.5 | % | 6.5 | % | 6.5 | % | — | — | — | ||||||||||||||||
Rate of increase in future compensation levels | 4.5 | % | 4.5 | % | 4.5 | % | — | — | — | ||||||||||||||||
Effects on One-Percentage Point Change in Assumed Health Care Cost Trend Rates | ' | ||||||||||||||||||||||||
A one-percentage point change in assumed health care cost trend rates would have had the following effects: | |||||||||||||||||||||||||
1% | -1% | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Increase (decrease) in: | |||||||||||||||||||||||||
Service and interest cost | $ | 100 | $ | (91 | ) | ||||||||||||||||||||
Accumulated postretirement benefit obligation | 2,147 | (1,947 | ) | ||||||||||||||||||||||
Fair Values of Company's Pension Plan Assets by Asset Category | ' | ||||||||||||||||||||||||
The fair values of the Company’s pension plan assets at December 31, 2013, by asset category, were as follows: | |||||||||||||||||||||||||
Fair Value Measurement of Plan Assets At December 31, 2013 | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||||||||||
for Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Asset category: | |||||||||||||||||||||||||
Money-market funds | $ | 37,952 | $ | 37,952 | $ | — | $ | — | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||
M&T | 142,955 | 142,955 | — | — | |||||||||||||||||||||
Domestic(a) | 271,203 | 271,203 | — | — | |||||||||||||||||||||
International | 24,053 | 24,053 | — | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic | 194,099 | 194,099 | — | — | |||||||||||||||||||||
International | 413,685 | 413,685 | — | — | |||||||||||||||||||||
1,045,995 | 1,045,995 | — | — | ||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
Corporate(b) | 63,196 | — | 63,196 | — | |||||||||||||||||||||
Government | 75,043 | — | 75,043 | — | |||||||||||||||||||||
International | 2,443 | — | 2,443 | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic(c) | 68,280 | 68,280 | — | — | |||||||||||||||||||||
International | 43,742 | 43,742 | — | — | |||||||||||||||||||||
252,704 | 112,022 | 140,682 | — | ||||||||||||||||||||||
Other: | |||||||||||||||||||||||||
Diversified mutual fund | 93,055 | 93,055 | — | — | |||||||||||||||||||||
Private real estate | 3,123 | — | — | 3,123 | |||||||||||||||||||||
Private equity | 6,199 | — | — | 6,199 | |||||||||||||||||||||
Hedge funds | 65,663 | 41,489 | — | 24,174 | |||||||||||||||||||||
168,040 | 134,544 | — | 33,496 | ||||||||||||||||||||||
Total(d) | $ | 1,504,691 | $ | 1,330,513 | $ | 140,682 | $ | 33,496 | |||||||||||||||||
The fair values of the Company’s pension plan assets at December 31, 2012, by asset category, were as follows: | |||||||||||||||||||||||||
Fair Value Measurement of Plan Assets At December 31, 2012 | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||||||||||
for Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Asset category: | |||||||||||||||||||||||||
Money-market funds | $ | 46,657 | $ | 46,657 | $ | — | $ | — | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||
M&T | 120,914 | 120,914 | — | — | |||||||||||||||||||||
Domestic(a) | 147,382 | 147,382 | — | — | |||||||||||||||||||||
International | 8,561 | 8,561 | — | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic | 188,950 | 188,950 | — | — | |||||||||||||||||||||
International | 208,696 | 208,696 | — | — | |||||||||||||||||||||
674,503 | 674,503 | — | — | ||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
Corporate(b) | 307,712 | — | 307,712 | — | |||||||||||||||||||||
Government | 141,224 | — | 141,224 | — | |||||||||||||||||||||
International | 10,230 | — | 10,230 | — | |||||||||||||||||||||
Mutual funds: | |||||||||||||||||||||||||
Domestic(c) | 107,576 | 107,576 | — | — | |||||||||||||||||||||
International | 54,362 | 54,362 | — | — | |||||||||||||||||||||
621,104 | 161,938 | 459,166 | — | ||||||||||||||||||||||
Other: | |||||||||||||||||||||||||
Diversified mutual fund | 10,415 | 10,415 | — | — | |||||||||||||||||||||
Private real estate | 4,603 | — | — | 4,603 | |||||||||||||||||||||
Private equity | 5,347 | — | — | 5,347 | |||||||||||||||||||||
Hedge funds | 41,509 | 10,000 | — | 31,509 | |||||||||||||||||||||
61,874 | 20,415 | — | 41,459 | ||||||||||||||||||||||
Total(d) | $ | 1,404,138 | $ | 903,513 | $ | 459,166 | $ | 41,459 | |||||||||||||||||
(a) | This category is comprised of equities of companies primarily within the mid-cap and large-cap sector of the U.S. economy and range across diverse industries. | ||||||||||||||||||||||||
(b) | This category represents investment grade bonds of U.S. issuers from diverse industries. | ||||||||||||||||||||||||
(c) | Approximately 35% of the mutual funds were invested in investment grade bonds of U.S. issuers and 65% in high-yielding bonds at December 31, 2013. Approximately 40% of the mutual funds were invested in investment grade bonds of U.S. issuers and 60% in high-yielding bonds at December 31, 2012. The holdings within the funds are spread across diverse industries. | ||||||||||||||||||||||||
(d) | Excludes dividends and interest receivable totaling $1,993,000 and $4,633,000 at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||
Changes in Level 3 Pension Plan Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||||||
The changes in Level 3 pension plan assets measured at estimated fair value on a recurring basis during the year ended December 31, 2013 were as follows: | |||||||||||||||||||||||||
Balance – | Sales/ | Total | Balance – | ||||||||||||||||||||||
January 1, | Purchases | Realized/ | December 31, | ||||||||||||||||||||||
2013 | Unrealized | 2013 | |||||||||||||||||||||||
Gains (Losses) | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Private real estate | $ | 4,603 | $ | (308 | ) | $ | (1,172 | ) | $ | 3,123 | |||||||||||||||
Private equity | 5,347 | 165 | 687 | 6,199 | |||||||||||||||||||||
Hedge funds | 31,509 | (9,873 | ) | 2,538 | 24,174 | ||||||||||||||||||||
Total | $ | 41,459 | $ | (10,016 | ) | $ | 2,053 | $ | 33,496 | ||||||||||||||||
Defined Benefit Plan Estimated Future Benefit Payments | ' | ||||||||||||||||||||||||
Estimated benefits expected to be paid in future years related to the Company’s defined benefit pension and other postretirement benefits plans are as follows: | |||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||
Benefits | Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||
2014 | $ | 65,970 | $ | 6,780 | |||||||||||||||||||||
2015 | 67,993 | 6,503 | |||||||||||||||||||||||
2016 | 73,628 | 6,283 | |||||||||||||||||||||||
2017 | 77,180 | 5,995 | |||||||||||||||||||||||
2018 | 80,380 | 5,741 | |||||||||||||||||||||||
2019 through 2023 | 461,397 | 25,172 |
Income_taxes_Tables
Income taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Components of Income Tax Expense (Benefit) | ' | ||||||||||||
The components of income tax expense (benefit) were as follows: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Current | |||||||||||||
Federal | $ | 371,249 | $ | 309,156 | $ | 277,631 | |||||||
State and city | 68,035 | 82,014 | 53,566 | ||||||||||
Total current | 439,284 | 391,170 | 331,197 | ||||||||||
Deferred | |||||||||||||
Federal | 106,537 | 117,229 | 34,325 | ||||||||||
State and city | 33,248 | 14,629 | (401 | ) | |||||||||
Total deferred | 139,785 | 131,858 | 33,924 | ||||||||||
Total income taxes applicable to pre-tax income | $ | 579,069 | $ | 523,028 | $ | 365,121 | |||||||
Schedule of Income Tax Expense Benefit Reconciliation | ' | ||||||||||||
Total income taxes differed from the amount computed by applying the statutory federal income tax rate to pre-tax income as follows: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Income taxes at statutory federal income tax rate | $ | 601,142 | $ | 543,384 | $ | 428,610 | |||||||
Increase (decrease) in taxes: | |||||||||||||
Tax-exempt income | (34,747 | ) | (33,890 | ) | (33,799 | ) | |||||||
State and city income taxes, net of federal income tax effect | 65,834 | 62,818 | 34,557 | ||||||||||
Low income housing and other credits | (49,206 | ) | (42,074 | ) | (40,763 | ) | |||||||
Non-taxable gain on acquisition | — | — | (22,725 | ) | |||||||||
Other | (3,954 | ) | (7,210 | ) | (759 | ) | |||||||
$ | 579,069 | $ | 523,028 | $ | 365,121 | ||||||||
Deferred Tax Assets (Liabilities) | ' | ||||||||||||
Deferred tax assets (liabilities) were comprised of the following at December 31: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Losses on loans and other assets | $ | 645,713 | $ | 809,033 | $ | 896,219 | |||||||
Postretirement and other employee benefits | 30,023 | 34,517 | 39,992 | ||||||||||
Incentive compensation plans | 37,772 | 50,067 | 49,183 | ||||||||||
Interest on loans | 100,725 | 72,278 | 46,965 | ||||||||||
Retirement benefits | — | 91,980 | 147,997 | ||||||||||
Stock-based compensation | 63,101 | 69,874 | 78,014 | ||||||||||
Unrealized investment losses | — | — | 50,528 | ||||||||||
Depreciation and amortization | 1,404 | 12,130 | 9,563 | ||||||||||
Other | 121,561 | 103,027 | 99,012 | ||||||||||
Gross deferred tax assets | 1,000,299 | 1,242,906 | 1,417,473 | ||||||||||
Leasing transactions | (284,370 | ) | (291,524 | ) | (294,150 | ) | |||||||
Unrealized investment gains | (21,779 | ) | (23,574 | ) | — | ||||||||
Capitalized servicing rights | (46,041 | ) | (20,348 | ) | (17,603 | ) | |||||||
Interest on subordinated note exchange | (6,075 | ) | (8,794 | ) | (11,275 | ) | |||||||
Retirement benefits | (9,397 | ) | — | — | |||||||||
Other | (49,450 | ) | (61,410 | ) | (48,803 | ) | |||||||
Gross deferred tax liabilities | (417,112 | ) | (405,650 | ) | (371,831 | ) | |||||||
Net deferred tax asset | $ | 583,187 | $ | 837,256 | $ | 1,045,642 | |||||||
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits follows: | |||||||||||||
Federal, | Accrued | Unrecognized | |||||||||||
State and | Interest | Income Tax | |||||||||||
Local Tax | Benefits | ||||||||||||
(In thousands) | |||||||||||||
Gross unrecognized tax benefits at January 1, 2011 | $ | 24,853 | $ | 20,696 | $ | 45,549 | |||||||
Increases in unrecognized tax benefits as a result of tax positions taken during 2011 | 4,659 | — | 4,659 | ||||||||||
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | (9,742 | ) | (5,497 | ) | (15,239 | ) | |||||||
Decreases in unrecognized tax benefits as a result of tax positions taken in prior years | — | (1,645 | ) | (1,645 | ) | ||||||||
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | (8,471 | ) | (8,201 | ) | (16,672 | ) | |||||||
Unrecognized tax benefits acquired in a business combination | 7,034 | 3,924 | 10,958 | ||||||||||
Gross unrecognized tax benefits at December 31, 2011 | 18,333 | 9,277 | 27,610 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken during 2012 | 860 | — | 860 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken in prior years | — | 4,514 | 4,514 | ||||||||||
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | (1,002 | ) | — | (1,002 | ) | ||||||||
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | (1,643 | ) | (1,412 | ) | (3,055 | ) | |||||||
Gross unrecognized tax benefits at December 31, 2012 | 16,548 | 12,379 | 28,927 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken during 2013 | 2,267 | — | 2,267 | ||||||||||
Increases in unrecognized tax benefits as a result of tax positions taken in prior years | — | 4,429 | 4,429 | ||||||||||
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | (1,854 | ) | (487 | ) | (2,341 | ) | |||||||
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | (2,350 | ) | (1,625 | ) | (3,975 | ) | |||||||
Gross unrecognized tax benefits at December 31, 2013 | $ | 14,611 | $ | 14,696 | 29,307 | ||||||||
Less: Federal, state and local income tax benefits | (9,611 | ) | |||||||||||
Net unrecognized tax benefits at December 31, 2013 that, if recognized, would impact the effective income tax rate | $ | 19,696 | |||||||||||
Earnings_per_common_share_Tabl
Earnings per common share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computations of Basic Earnings Per Common Share | ' | ||||||||||||
The computations of basic earnings per common share follow: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share) | |||||||||||||
Income available to common shareholders: | |||||||||||||
Net income | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||
Less: Preferred stock dividends(a) | (54,120 | ) | (53,450 | ) | (45,839 | ) | |||||||
Amortization of preferred stock discount(a) | (7,942 | ) | (8,026 | ) | (20,018 | ) | |||||||
Net income available to common equity | 1,076,418 | 968,022 | 793,622 | ||||||||||
Less: Income attributable to unvested stock-based compensation awards | (13,989 | ) | (14,632 | ) | (11,879 | ) | |||||||
Net income available to common shareholders | $ | 1,062,429 | $ | 953,390 | $ | 781,743 | |||||||
Weighted-average shares outstanding: | |||||||||||||
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 130,354 | 127,793 | 124,524 | ||||||||||
Less: Unvested stock-based compensation awards | (1,700 | ) | (1,929 | ) | (1,861 | ) | |||||||
Weighted-average shares outstanding | 128,654 | 125,864 | 122,663 | ||||||||||
Basic earnings per common share | $ | 8.26 | $ | 7.57 | $ | 6.37 | |||||||
(a) | Including impact of not as yet declared cumulative dividends. | ||||||||||||
Computations of Diluted Earnings Per Common Share | ' | ||||||||||||
The computations of diluted earnings per common share follow: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share) | |||||||||||||
Net income available to common equity | $ | 1,076,418 | $ | 968,022 | $ | 793,622 | |||||||
Less: Income attributable to unvested stock-based compensation awards | (13,922 | ) | (14,593 | ) | (11,857 | ) | |||||||
Net income available to common shareholders | $ | 1,062,496 | $ | 953,429 | $ | 781,765 | |||||||
Adjusted weighted-average shares outstanding: | |||||||||||||
Common and unvested stock-based compensation awards | 130,354 | 127,793 | 124,524 | ||||||||||
Less: Unvested stock-based compensation awards | (1,700 | ) | (1,929 | ) | (1,861 | ) | |||||||
Plus: Incremental shares from assumed conversion of stock-based compensation awards | 949 | 541 | 416 | ||||||||||
Adjusted weighted-average shares outstanding | 129,603 | 126,405 | 123,079 | ||||||||||
Diluted earnings per common share | $ | 8.2 | $ | 7.54 | $ | 6.35 |
Comprehensive_income_Tables
Comprehensive income (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||||||
Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income | ' | ||||||||||||||||||||||||||||
The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income. | |||||||||||||||||||||||||||||
Investment Securities | Defined | Other | Total | Income | Net | ||||||||||||||||||||||||
Benefit | Amount | Tax | |||||||||||||||||||||||||||
With | All | Plans | Before Tax | ||||||||||||||||||||||||||
OTTI | Other | ||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Balance — January 1, 2013 | $ | (91,835 | ) | 152,199 | (455,590 | ) | (431 | ) | $ | (395,657 | ) | 155,393 | $ | (240,264 | ) | ||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||||||||
Unrealized holding gains (losses), net | 77,794 | (129,628 | ) | — | — | (51,834 | ) | 20,311 | (31,523 | ) | |||||||||||||||||||
Foreign currency translation adjustment | — | — | — | 546 | 546 | (165 | ) | 381 | |||||||||||||||||||||
Current year pension gains (losses) | — | — | 260,452 | — | 260,452 | (102,227 | ) | 158,225 | |||||||||||||||||||||
Total other comprehensive income before reclassifications | 77,794 | (129,628 | ) | 260,452 | 546 | 209,164 | (82,081 | ) | 127,083 | ||||||||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||||||||||||
comprehensive income that | |||||||||||||||||||||||||||||
(increase) decrease net income: | |||||||||||||||||||||||||||||
Accretion of unrealized holding losses on held-to-maturity (“HTM”) securities | 279 | 4,008 | — | — | 4,287 | (a) | (1,683 | ) | 2,604 | ||||||||||||||||||||
OTTI charges recognized in net income | 9,800 | — | — | — | 9,800 | (b) | (3,847 | ) | 5,953 | ||||||||||||||||||||
Losses (gains) realized in net income | 41,217 | (8,129 | ) | — | — | 33,088 | (c) | (12,987 | ) | 20,101 | |||||||||||||||||||
Amortization of prior service credit | — | — | (7,915 | ) | — | (7,915 | )(e) | 3,107 | (4,808 | ) | |||||||||||||||||||
Amortization of actuarial losses | — | — | 41,436 | — | 41,436 | (e) | (16,264 | ) | 25,172 | ||||||||||||||||||||
Total reclassifications | 51,296 | (4,121 | ) | 33,521 | — | 80,696 | (31,674 | ) | 49,022 | ||||||||||||||||||||
Total gain (loss) during the | 129,090 | (133,749 | ) | 293,973 | 546 | 289,860 | (113,755 | ) | 176,105 | ||||||||||||||||||||
period | |||||||||||||||||||||||||||||
Balance — December 31, 2013 | $ | 37,255 | 18,450 | (161,617 | ) | 115 | $ | (105,797 | ) | 41,638 | $ | (64,159 | ) | ||||||||||||||||
Investment Securities | Defined | Other | Total | Income | Net | ||||||||||||||||||||||||
Benefit | Amount | Tax | |||||||||||||||||||||||||||
With | All | Plans | Before Tax | ||||||||||||||||||||||||||
OTTI | Other | ||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Balance — January 1, 2012 | $ | (138,319 | ) | 9,757 | (457,145 | ) | (1,062 | ) | $ | (586,769 | ) | 230,328 | $ | (356,441 | ) | ||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||||||||
Unrealized holding gains (losses), net | (2,998 | ) | 137,921 | — | — | 134,923 | (52,905 | ) | 82,018 | ||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | 809 | 809 | (290 | ) | 519 | |||||||||||||||||||||
Current year pension | — | — | (29,823 | ) | — | (29,823 | ) | 11,705 | (18,118 | ) | |||||||||||||||||||
gains (losses) | |||||||||||||||||||||||||||||
Total other comprehensive income before reclassifications | (2,998 | ) | 137,921 | (29,823 | ) | 809 | 105,909 | (41,490 | ) | 64,419 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||||||||||||||||||||||||
Accretion of unrealized holding losses on HTM securities | 1,660 | 4,530 | — | — | 6,190 | (a) | (2,430 | ) | 3,760 | ||||||||||||||||||||
OTTI charges recognized in net income | 47,822 | — | — | — | 47,822 | (b) | (18,770 | ) | 29,052 | ||||||||||||||||||||
Losses (gains) realized in net income | — | (9 | ) | — | — | (9 | )(c) | 4 | (5 | ) | |||||||||||||||||||
Amortization of gains on terminated cash flow hedges | — | — | — | (178 | ) | (178 | ) | 66 | (112 | ) | |||||||||||||||||||
Amortization of prior service credit | — | — | (6,538 | ) | — | (6,538 | )(e) | 2,566 | (3,972 | ) | |||||||||||||||||||
Amortization of actuarial losses | — | — | 37,916 | — | 37,916 | (e) | (14,881 | ) | 23,035 | ||||||||||||||||||||
Total reclassifications | 49,482 | 4,521 | 31,378 | (178 | ) | 85,203 | (33,445 | ) | 51,758 | ||||||||||||||||||||
Total gain (loss) during the period | 46,484 | 142,442 | 1,555 | 631 | 191,112 | (74,935 | ) | 116,177 | |||||||||||||||||||||
Balance — December 31, 2012 | $ | (91,835 | ) | 152,199 | (455,590 | ) | (431 | ) | $ | (395,657 | ) | 155,393 | $ | (240,264 | ) | ||||||||||||||
Investment Securities | Defined | Other | Total | Income | Net | ||||||||||||||||||||||||
Benefit | Amount | Tax | |||||||||||||||||||||||||||
With | All | Plans | Before Tax | ||||||||||||||||||||||||||
OTTI | Other | ||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Balance — January 1, 2011 | $ | (143,139 | ) | 3,860 | (198,999 | ) | 626 | $ | (337,652 | ) | 132,432 | $ | (205,220 | ) | |||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||||||||
Unrealized holding gains (losses), net | (68,946 | ) | 145,522 | — | — | 76,576 | (29,786 | ) | 46,790 | ||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | (1,240 | ) | (1,240 | ) | 437 | (803 | ) | |||||||||||||||||||
Current year pension | — | — | (272,260 | ) | — | (272,260 | ) | 106,862 | (165,398 | ) | |||||||||||||||||||
gains (losses) | |||||||||||||||||||||||||||||
Total other comprehensive income before reclassifications | (68,946 | ) | 145,522 | (272,260 | ) | (1,240 | ) | (196,924 | ) | 77,513 | (119,411 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||||||||||||||||||||||||
Accretion of unrealized holding losses on HTM securities | 545 | 6,490 | — | — | 7,035 | (a) | (2,762 | ) | 4,273 | ||||||||||||||||||||
OTTI charges recognized in net income | 77,035 | — | — | — | 77,035 | (b) | (30,235 | ) | 46,800 | ||||||||||||||||||||
Losses (gains) realized in net income | (3,814 | ) | (146,115 | ) | — | — | (149,929 | )(c) | 58,753 | (91,176 | ) | ||||||||||||||||||
Amortization of gains on terminated cash flow hedges | — | — | — | (448 | ) | (448 | )(d) | 167 | (281 | ) | |||||||||||||||||||
Amortization of prior service credit | — | — | (6,452 | ) | — | (6,452 | )(e) | 2,532 | (3,920 | ) | |||||||||||||||||||
Amortization of actuarial losses | — | — | 20,566 | — | 20,566 | (e) | (8,072 | ) | 12,494 | ||||||||||||||||||||
Total reclassifications | 73,766 | (139,625 | ) | 14,114 | (448 | ) | (52,193 | ) | 20,383 | (31,810 | ) | ||||||||||||||||||
Total gain (loss) during the period | 4,820 | 5,897 | (258,146 | ) | (1,688 | ) | (249,117 | ) | 97,896 | (151,221 | ) | ||||||||||||||||||
Balance — December 31, 2011 | $ | (138,319 | ) | 9,757 | (457,145 | ) | (1,062 | ) | $ | (586,769 | ) | 230,328 | $ | (356,441 | ) | ||||||||||||||
(a) | Included in interest income. | ||||||||||||||||||||||||||||
(b) | Included in OTTI losses recognized in earnings. | ||||||||||||||||||||||||||||
(c) | Included in gain (loss) on bank investment securities. | ||||||||||||||||||||||||||||
(d) | Included in interest expense. | ||||||||||||||||||||||||||||
(e) | Included in salaries and employee benefits expense. | ||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net | ' | ||||||||||||||||||||||||||||
Accumulated other comprehensive income (loss), net consisted of unrealized gains (losses) as follows: | |||||||||||||||||||||||||||||
Cash | Foreign | Defined | Total | ||||||||||||||||||||||||||
Flow | Currency | Benefit | |||||||||||||||||||||||||||
Investment Securities | Hedges | Translation | Plans | ||||||||||||||||||||||||||
With OTTI | All Other | Adjustment | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance at January 1, 2011 | $ | (87,053 | ) | $ | 2,332 | $ | 393 | $ | — | $ | (120,892 | ) | $ | (205,220 | ) | ||||||||||||||
Net gain (loss) during 2011 | 3,024 | 3,663 | (281 | ) | (803 | ) | (156,824 | ) | (151,221 | ) | |||||||||||||||||||
Balance at December 31, 2011 | (84,029 | ) | 5,995 | 112 | (803 | ) | (277,716 | ) | (356,441 | ) | |||||||||||||||||||
Net gain (loss) during 2012 | 28,239 | 86,586 | (112 | ) | 519 | 945 | 116,177 | ||||||||||||||||||||||
Balance at December 31, 2012 | (55,790 | ) | 92,581 | — | (284 | ) | (276,771 | ) | (240,264 | ) | |||||||||||||||||||
Net gain (loss) during 2013 | 78,422 | (81,287 | ) | — | 381 | 178,589 | 176,105 | ||||||||||||||||||||||
Balance at December 31, 2013 | $ | 22,632 | $ | 11,294 | $ | — | $ | 97 | $ | (98,182 | ) | $ | (64,159 | ) | |||||||||||||||
Other_income_and_other_expense1
Other income and other expense (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Other Income and Other Expense | ' | ||||||||||||
The following items, which exceeded 1% of total interest income and other income in the respective period, were included in either “other revenues from operations” or “other costs of operations” in the consolidated statement of income: | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Other income: | |||||||||||||
Bank owned life insurance | $ | 56,120 | $ | 51,199 | $ | 50,776 | |||||||
Credit-related fee income | 72,271 | 68,596 | 73,886 | ||||||||||
Letter of credit fees | 59,889 | 58,496 | 56,247 | ||||||||||
Non-taxable gain from business combination | 64,930 | ||||||||||||
Gains from loan securitization transactions | 63,066 | ||||||||||||
Other expense: | |||||||||||||
Professional services | 335,794 | 248,544 | 222,122 | ||||||||||
Amortization of capitalized servicing rights | 65,354 | 59,555 | 55,859 | ||||||||||
Advertising and promotion | 56,597 | 52,388 | 58,312 | ||||||||||
Write-down of investment in Bayview Lending Group LLC (“BLG”) | 79,012 |
Derivative_financial_instrumen1
Derivative financial instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Information About Interest Rate Swap Agreements | ' | ||||||||||||||||||||||||
Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows: | |||||||||||||||||||||||||
Notional | Average | Weighted-Average | Estimated Fair | ||||||||||||||||||||||
Amount | Maturity | Rate | Value Gain | ||||||||||||||||||||||
Fixed | Variable | ||||||||||||||||||||||||
(In thousands) | (In years) | (In thousands) | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Fixed rate long-term borrowings(a) | $ | 1,400,000 | 3.7 | 4.42 | % | 1.2 | % | $ | 102,875 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Fixed rate long-term borrowings(a) | $ | 900,000 | 4.4 | 6.07 | % | 1.85 | % | $ | 143,179 | ||||||||||||||||
(a) | Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate. | ||||||||||||||||||||||||
Notional Amount of Interest Rate Swap Agreements Outstanding Maturity | ' | ||||||||||||||||||||||||
The notional amount of interest rate swap agreements entered into for risk management purposes that were outstanding at December 31, 2013 mature as follows: | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||
2016 | $ | 500,000 | |||||||||||||||||||||||
2017 | 400,000 | ||||||||||||||||||||||||
2018 | 500,000 | ||||||||||||||||||||||||
$ | 1,400,000 | ||||||||||||||||||||||||
Information About Fair Values of Derivative Instruments in Consolidated Balance Sheet | ' | ||||||||||||||||||||||||
Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows: | |||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
December 31 | December 31 | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Derivatives designated and qualifying as hedging instruments | |||||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Interest rate swap agreements(a) | $ | 102,875 | $ | 143,179 | $ | — | $ | — | |||||||||||||||||
Commitments to sell real estate loans(a) | 6,957 | 1,114 | 487 | 3,825 | |||||||||||||||||||||
109,832 | 144,293 | 487 | 3,825 | ||||||||||||||||||||||
Derivatives not designated and qualifying as hedging instruments | |||||||||||||||||||||||||
Mortgage-related commitments to originate real estate loans for sale(a) | 7,616 | 48,056 | 3,675 | 197 | |||||||||||||||||||||
Commitments to sell real estate loans(a) | 6,120 | 1,982 | 230 | 6,570 | |||||||||||||||||||||
Trading: | |||||||||||||||||||||||||
Interest rate contracts(b) | 274,864 | 399,963 | 234,455 | 365,616 | |||||||||||||||||||||
Foreign exchange and other option and futures contracts(b) | 15,831 | 8,725 | 15,342 | 8,658 | |||||||||||||||||||||
304,431 | 458,726 | 253,702 | 381,041 | ||||||||||||||||||||||
Total derivatives | $ | 414,263 | $ | 603,019 | $ | 254,189 | $ | 384,866 | |||||||||||||||||
(a) | Asset derivatives are reported in other assets and liability derivatives are reported in other liabilities. | ||||||||||||||||||||||||
(b) | Asset derivatives are reported in trading account assets and liability derivatives are reported in other liabilities. | ||||||||||||||||||||||||
Information About Fair Values of Derivative Instruments in Consolidated Statement of Income | ' | ||||||||||||||||||||||||
Amount of Unrealized Gain (Loss) Recognized | |||||||||||||||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||||||||||||||
Derivative | Hedged Item | Derivative | Hedged Item | Derivative | Hedged Item | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Derivatives in fair value hedging relationships | |||||||||||||||||||||||||
Interest rate swap agreements: | |||||||||||||||||||||||||
Fixed rate long-term borrowings(a) | $ | (40,304 | ) | $ | 38,986 | $ | (4,123 | ) | $ | 3,724 | $ | 50,665 | $ | (47,916 | ) | ||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Trading: | |||||||||||||||||||||||||
Interest rate contracts(b) | $ | 9,824 | $ | 8,004 | $ | 6,130 | |||||||||||||||||||
Foreign exchange and other option and futures contracts(b) | (3,369 | ) | (3,970 | ) | (2,649 | ) | |||||||||||||||||||
Total | $ | 6,455 | $ | 4,034 | $ | 3,481 | |||||||||||||||||||
(a) | Reported as other revenues from operations. | ||||||||||||||||||||||||
(b) | Reported as trading account and foreign exchange gains. |
Fair_value_measurements_Tables
Fair value measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis | ' | ||||||||||||||||||||
The following tables present assets and liabilities at December 31, 2013 and 2012 measured at estimated fair value on a recurring basis: | |||||||||||||||||||||
Fair Value | Level 1(a) | Level 2(a) | Level 3 | ||||||||||||||||||
Measurements at | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Trading account assets | $ | 376,131 | 51,386 | 324,745 | — | ||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||
U.S. Treasury and federal agencies | 37,776 | — | 37,776 | — | |||||||||||||||||
Obligations of states and political subdivisions | 10,811 | — | 10,811 | — | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Government issued or guaranteed | 4,165,086 | — | 4,165,086 | — | |||||||||||||||||
Privately issued | 1,850 | — | — | 1,850 | |||||||||||||||||
Collateralized debt obligations | 63,083 | — | — | 63,083 | |||||||||||||||||
Other debt securities | 120,085 | — | 120,085 | — | |||||||||||||||||
Equity securities | 133,095 | 82,450 | 50,645 | — | |||||||||||||||||
4,531,786 | 82,450 | 4,384,403 | 64,933 | ||||||||||||||||||
Real estate loans held for sale | 468,650 | — | 468,650 | — | |||||||||||||||||
Other assets(b) | 123,568 | — | 115,952 | 7,616 | |||||||||||||||||
Total assets | $ | 5,500,135 | 133,836 | 5,293,750 | 72,549 | ||||||||||||||||
Trading account liabilities | $ | 249,797 | — | 249,797 | — | ||||||||||||||||
Other liabilities(b) | 4,392 | — | 717 | 3,675 | |||||||||||||||||
Total liabilities | $ | 254,189 | — | 250,514 | 3,675 | ||||||||||||||||
Fair Value | Level 1(a) | Level 2(a) | Level 3 | ||||||||||||||||||
Measurements at | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2012 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Trading account assets | $ | 488,966 | 56,106 | 432,860 | — | ||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||
U.S. Treasury and federal agencies | 39,344 | — | 39,344 | — | |||||||||||||||||
Obligations of states and political subdivisions | 20,901 | — | 20,901 | — | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Government issued or guaranteed | 3,371,041 | — | 3,371,041 | — | |||||||||||||||||
Privately issued | 1,023,886 | — | — | 1,023,886 | |||||||||||||||||
Collateralized debt obligations | 61,869 | — | — | 61,869 | |||||||||||||||||
Other debt securities | 111,950 | — | 111,950 | — | |||||||||||||||||
Equity securities | 110,446 | 98,364 | 12,082 | — | |||||||||||||||||
4,739,437 | 98,364 | 3,555,318 | 1,085,755 | ||||||||||||||||||
Real estate loans held for sale | 1,387,491 | — | 1,387,491 | — | |||||||||||||||||
Other assets(b) | 194,331 | — | 146,275 | 48,056 | |||||||||||||||||
Total assets | $ | 6,810,225 | 154,470 | 5,521,944 | 1,133,811 | ||||||||||||||||
Trading account liabilities | $ | 374,274 | — | 374,274 | — | ||||||||||||||||
Other liabilities(b) | 10,592 | — | 10,395 | 197 | |||||||||||||||||
Total liabilities | $ | 384,866 | — | 384,669 | 197 | ||||||||||||||||
(a) | There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy during the years ended December 31, 2013 and 2012. | ||||||||||||||||||||
(b) | Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3). | ||||||||||||||||||||
Changes in Level 3 Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis | ' | ||||||||||||||||||||
The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the year ended December 31, 2013 were as follows: | |||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||
Privately Issued | Collateralized | Other | |||||||||||||||||||
Mortgage- | Debt | Assets and | |||||||||||||||||||
backed | Obligations | Other | |||||||||||||||||||
Securities | Liabilities | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance — January 1, 2013 | $ | 1,023,886 | $ | 61,869 | $ | 47,859 | |||||||||||||||
Total gains (losses) realized/unrealized: | |||||||||||||||||||||
Included in earnings | (56,102 | )(a) | — | 97,845 | (b) | ||||||||||||||||
Included in other comprehensive income | 116,359 | (e) | 4,508 | (e) | — | ||||||||||||||||
Sales | (978,608 | ) | — | — | |||||||||||||||||
Settlements | (103,685 | ) | (3,294 | ) | — | ||||||||||||||||
Transfers in and/or out of Level 3(c) | — | — | (141,763 | )(d) | |||||||||||||||||
Balance — December 31, 2013 | $ | 1,850 | $ | 63,083 | $ | 3,941 | |||||||||||||||
Changes in unrealized gains included in earnings related to assets still held at December 31, 2013 | $ | — | $ | — | $ | 3,431 | (b) | ||||||||||||||
The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the year ended December 31, 2012 were as follows: | |||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||
Privately | Collateralized | Other Assets | |||||||||||||||||||
Issued | Debt | and Other | |||||||||||||||||||
Mortgage- | Obligations | Liabilities | |||||||||||||||||||
backed | |||||||||||||||||||||
Securities | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance — January 1, 2012 | $ | 1,151,285 | $ | 52,500 | $ | 6,923 | |||||||||||||||
Total gains (losses) realized/unrealized: | |||||||||||||||||||||
Included in earnings | (42,467 | )(a) | — | 212,281 | (b) | ||||||||||||||||
Included in other comprehensive income | 114,592 | (e) | 12,214 | (e) | — | ||||||||||||||||
Settlements | (199,524 | ) | (2,845 | ) | — | ||||||||||||||||
Transfers in and/or out of Level 3(c) | — | — | (171,345 | )(d) | |||||||||||||||||
Balance — December 31, 2012 | $ | 1,023,886 | $ | 61,869 | $ | 47,859 | |||||||||||||||
Changes in unrealized gains (losses) included in earnings related to assets still held at December 31, 2012 | $ | (42,467 | )(a) | $ | — | $ | 47,859 | (b) | |||||||||||||
The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the year ended December 31, 2011 were as follows: | |||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||
Privately | Collateralized | Other | |||||||||||||||||||
Issued | Debt | Assets and | |||||||||||||||||||
Mortgage- | Obligations | Other | |||||||||||||||||||
backed | Liabilities | ||||||||||||||||||||
Securities | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance — January 1, 2011 | $ | 1,457,968 | $ | 110,756 | $ | 2,244 | |||||||||||||||
Total gains (losses) realized/unrealized: | |||||||||||||||||||||
Included in earnings | (64,919 | )(a) | 19,231 | (a) | 67,163 | (b) | |||||||||||||||
Included in other comprehensive income | 6,816 | (e) | (272 | )(e) | — | ||||||||||||||||
Purchases | — | 50,790 | — | ||||||||||||||||||
Sales | — | (124,874 | ) | — | |||||||||||||||||
Settlements | (248,580 | ) | (3,131 | ) | — | ||||||||||||||||
Transfers in and/or out of Level 3(c) | — | — | (62,484 | )(d) | |||||||||||||||||
Balance — December 31, 2011 | $ | 1,151,285 | $ | 52,500 | $ | 6,923 | |||||||||||||||
Changes in unrealized gains (losses) included in earnings related to assets still held at December 31, 2011 | $ | (64,919 | )(a) | $ | — | $ | 6,902 | (b) | |||||||||||||
(a) | Reported as an other-than-temporary impairment loss or as gain (loss) on bank investment securities in the consolidated statement of income. | ||||||||||||||||||||
(b) | Reported as mortgage banking revenues in the consolidated statement of income and includes the fair value of commitment issuances and expirations. | ||||||||||||||||||||
(c) | The Company’s policy for transfers between fair value levels is to recognize the transfer as of the actual date of the event or change in circumstances that caused the transfer. | ||||||||||||||||||||
(d) | Transfers out of Level 3 consist of interest rate locks transferred to closed loans. | ||||||||||||||||||||
(e) | Reported as net unrealized gains on investment securities in the consolidated statement of comprehensive income | ||||||||||||||||||||
Quantitative Information Related to Significant Unobservable Inputs | ' | ||||||||||||||||||||
The following table present quantitative information about significant unobservable inputs used in the fair value measurements for Level 3 assets and liabilities at December 31, 2013 and 2012: | |||||||||||||||||||||
Fair Value at | Valuation | Unobservable | Range | ||||||||||||||||||
December 31, | Technique | Input/Assumptions | (Weighted- | ||||||||||||||||||
2013 | Average) | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Privately issued mortgage–backed securities | $ | 1,850 | Two independent pricing quotes | — | — | ||||||||||||||||
Collateralized debt obligations | 63,083 | Discounted cash flow | Probability of default | 17%-55% (39%) | |||||||||||||||||
Loss severity | 100% | ||||||||||||||||||||
Net other assets (liabilities)(a) | 3,941 | Discounted cash flow | Commitment expirations | 0%-90% (20%) | |||||||||||||||||
(a) | Other Level 3 assets (liabilities) consist of commitments to originate real estate loans. | ||||||||||||||||||||
Fair Value at | Valuation | Unobservable | Range | ||||||||||||||||||
December 31, | Technique | Input/Assumptions | (Weighted- | ||||||||||||||||||
2012 | Average) | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Privately issued mortgage–backed securities | $ | 1,023,886 | Discounted cash flow | Probability of default | 1%-40% (19%) | ||||||||||||||||
Loss severity | 32%-82% (51%) | ||||||||||||||||||||
Collateralized debt obligations | 61,869 | Discounted cash flow | Probability of default | 22%-69% (47%) | |||||||||||||||||
Loss severity | 100% | ||||||||||||||||||||
Net other assets (liabilities)(a) | 47,859 | Discounted cash flow | Commitment expirations | 0%-69% (20%) | |||||||||||||||||
(a) | Other Level 3 assets (liabilities) consist of commitments to originate real estate loans. | ||||||||||||||||||||
Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) | ' | ||||||||||||||||||||
The carrying amounts and estimated fair value for financial instrument assets (liabilities) are presented in the following table: | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 1,672,934 | $ | 1,672,934 | $ | 1,596,877 | $ | 76,057 | $ | — | |||||||||||
Interest-bearing deposits at banks | 1,651,138 | 1,651,138 | — | 1,651,138 | — | ||||||||||||||||
Trading account assets | 376,131 | 376,131 | 51,386 | 324,745 | — | ||||||||||||||||
Investment securities | 8,796,497 | 8,690,494 | 82,450 | 8,384,106 | 223,938 | ||||||||||||||||
Loans and leases: | |||||||||||||||||||||
Commercial loans and leases | 18,705,216 | 18,457,288 | — | — | 18,457,288 | ||||||||||||||||
Commercial real estate loans | 26,148,208 | 26,018,195 | — | 67,505 | 25,950,690 | ||||||||||||||||
Residential real estate loans | 8,928,221 | 8,867,872 | — | 5,432,207 | 3,435,665 | ||||||||||||||||
Consumer loans | 10,291,514 | 10,201,087 | — | — | 10,201,087 | ||||||||||||||||
Allowance for credit losses | (916,676 | ) | — | — | — | — | |||||||||||||||
Loans and leases, net | 63,156,483 | 63,544,442 | — | 5,499,712 | 58,044,730 | ||||||||||||||||
Accrued interest receivable | 222,558 | 222,558 | — | 222,558 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | $ | (24,661,007 | ) | $ | (24,661,007 | ) | — | $ | (24,661,007 | ) | — | ||||||||||
Savings deposits and NOW accounts | (38,611,021 | ) | (38,611,021 | ) | — | (38,611,021 | ) | — | |||||||||||||
Time deposits | (3,523,838 | ) | (3,542,789 | ) | — | (3,542,789 | ) | — | |||||||||||||
Deposits at Cayman Islands office | (322,746 | ) | (322,746 | ) | — | (322,746 | ) | — | |||||||||||||
Short-term borrowings | (260,455 | ) | (260,455 | ) | — | (260,455 | ) | — | |||||||||||||
Long-term borrowings | (5,108,870 | ) | (5,244,902 | ) | — | (5,244,902 | ) | — | |||||||||||||
Accrued interest payable | (43,419 | ) | (43,419 | ) | — | (43,419 | ) | — | |||||||||||||
Trading account liabilities | (249,797 | ) | (249,797 | ) | — | (249,797 | ) | — | |||||||||||||
Other financial instruments: | |||||||||||||||||||||
Commitments to originate real estate loans for sale | $ | 3,941 | $ | 3,941 | — | $ | — | $ | 3,941 | ||||||||||||
Commitments to sell real estate loans | 12,360 | 12,360 | — | 12,360 | — | ||||||||||||||||
Other credit-related commitments | (118,886 | ) | (118,886 | ) | — | — | (118,886 | ) | |||||||||||||
Interest rate swap agreements used for interest rate risk management | 102,875 | 102,875 | — | 102,875 | — | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 1,986,615 | $ | 1,986,615 | $ | 1,895,423 | $ | 91,192 | $ | — | |||||||||||
Interest-bearing deposits at banks | 129,945 | 129,945 | — | 129,945 | — | ||||||||||||||||
Trading account assets | 488,966 | 488,966 | 56,106 | 432,860 | — | ||||||||||||||||
Investment securities | 6,074,361 | 6,018,968 | 98,364 | 4,687,211 | 1,233,393 | ||||||||||||||||
Loans and leases: | |||||||||||||||||||||
Commercial loans and leases | 17,776,953 | 17,554,562 | — | — | 17,554,562 | ||||||||||||||||
Commercial real estate loans | 25,993,790 | 25,858,482 | — | 199,997 | 25,658,485 | ||||||||||||||||
Residential real estate loans | 11,240,837 | 11,381,319 | — | 8,100,915 | 3,280,404 | ||||||||||||||||
Consumer loans | 11,559,377 | 11,504,799 | — | — | 11,504,799 | ||||||||||||||||
Allowance for credit losses | (925,860 | ) | — | — | — | — | |||||||||||||||
Loans and leases, net | 65,645,097 | 66,299,162 | — | 8,300,912 | 57,998,250 | ||||||||||||||||
Accrued interest receivable | 222,897 | 222,897 | — | 222,897 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | $ | (24,240,802 | ) | $ | (24,240,802 | ) | — | $ | (24,240,802 | ) | — | ||||||||||
Savings deposits and NOW accounts | (35,763,566 | ) | (35,763,566 | ) | — | (35,763,566 | ) | — | |||||||||||||
Time deposits | (4,562,366 | ) | (4,584,384 | ) | — | (4,584,384 | ) | — | |||||||||||||
Deposits at Cayman Islands office | (1,044,519 | ) | (1,044,519 | ) | — | (1,044,519 | ) | — | |||||||||||||
Short-term borrowings | (1,074,482 | ) | (1,074,482 | ) | — | (1,074,482 | ) | — | |||||||||||||
Long-term borrowings | (4,607,758 | ) | (4,768,408 | ) | — | (4,768,408 | ) | — | |||||||||||||
Accrued interest payable | (54,281 | ) | (54,281 | ) | — | (54,281 | ) | — | |||||||||||||
Trading account liabilities | (374,274 | ) | (374,274 | ) | — | (374,274 | ) | — | |||||||||||||
Other financial instruments: | |||||||||||||||||||||
Commitments to originate real estate loans for sale | $ | 47,859 | $ | 47,859 | — | $ | — | $ | 47,859 | ||||||||||||
Commitments to sell real estate loans | (7,299 | ) | (7,299 | ) | — | (7,299 | ) | — | |||||||||||||
Other credit-related commitments | (119,464 | ) | (119,464 | ) | — | — | (119,464 | ) | |||||||||||||
Interest rate swap agreements used for interest rate risk management | 143,179 | 143,179 | — | 143,179 | — |
Commitments_and_contingencies_
Commitments and contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Company's Significant Commitments | ' | ||||||||
The following table presents the Company’s significant commitments. Certain of these commitments are not included in the Company’s consolidated balance sheet. | |||||||||
December 31 | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Commitments to extend credit | |||||||||
Home equity lines of credit | $ | 6,218,823 | $ | 6,282,615 | |||||
Commercial real estate loans to be sold | 62,386 | 139,929 | |||||||
Other commercial real estate and construction | 3,919,545 | 3,819,342 | |||||||
Residential real estate loans to be sold | 469,869 | 1,550,441 | |||||||
Other residential real estate | 384,617 | 445,268 | |||||||
Commercial and other | 10,419,545 | 10,070,711 | |||||||
Standby letters of credit | 3,600,528 | 4,025,329 | |||||||
Commercial letters of credit | 53,284 | 53,201 | |||||||
Financial guarantees and indemnification contracts | 2,457,633 | 2,120,361 | |||||||
Commitments to sell real estate loans | 854,656 | 2,625,408 | |||||||
Minimum Lease Payments Under Noncancellable Operating Leases | ' | ||||||||
Minimum lease payments under noncancellable operating leases are summarized in the following table: | |||||||||
(In thousands) | |||||||||
Year ending December 31: | |||||||||
2014 | $ | 85,923 | |||||||
2015 | 80,237 | ||||||||
2016 | 66,265 | ||||||||
2017 | 52,793 | ||||||||
2018 | 43,593 | ||||||||
Later years | 135,156 | ||||||||
$ | 463,967 | ||||||||
Segment_information_Tables
Segment information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Information about Company's Segments | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Information about the Company’s segments is presented in the accompanying table. Income statement amounts are in thousands of dollars. Balance sheet amounts are in millions of dollars. | |||||||||||||||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Business Banking | Commercial Banking | Commercial Real Estate | Discretionary Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Net interest income(a) | $ | 325,521 | $ | 347,067 | $ | 334,811 | $ | 758,231 | $ | 753,678 | $ | 655,407 | $ | 570,786 | $ | 531,398 | $ | 467,683 | $ | 66,157 | $ | 66,303 | $ | 63,030 | |||||||||||||||||||||||||
Noninterest income | 102,945 | 103,283 | 95,429 | 263,766 | 253,808 | 249,150 | 130,895 | 133,120 | 99,409 | (2,126 | ) | (76,113 | ) | 98,770 | |||||||||||||||||||||||||||||||||||
428,466 | 450,350 | 430,240 | 1,021,997 | 1,007,486 | 904,557 | 701,681 | 664,518 | 567,092 | 64,031 | (9,810 | ) | 161,800 | |||||||||||||||||||||||||||||||||||||
Provision for credit losses | 26,450 | 22,245 | 45,689 | 76,818 | 15,781 | 29,823 | 7,365 | 4,238 | 58,474 | 16,670 | 44,305 | 59,309 | |||||||||||||||||||||||||||||||||||||
Amortization of core deposit and other intangible assets | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Depreciation and other amortization | 198 | 122 | 140 | 564 | 567 | 553 | 14,296 | 11,004 | 9,054 | 1,330 | 2,065 | 2,859 | |||||||||||||||||||||||||||||||||||||
Other noninterest expense | 214,043 | 179,428 | 177,172 | 288,842 | 262,820 | 248,428 | 214,246 | 190,879 | 154,042 | 30,431 | 31,006 | 32,262 | |||||||||||||||||||||||||||||||||||||
Income (loss) before taxes | 187,775 | 248,555 | 207,239 | 655,773 | 728,318 | 625,753 | 465,774 | 458,397 | 345,522 | 15,600 | (87,186 | ) | 67,370 | ||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | 76,735 | 101,484 | 84,532 | 264,433 | 296,894 | 256,311 | 143,981 | 149,321 | 105,709 | (14,368 | ) | (54,071 | ) | 7,975 | |||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 111,040 | $ | 147,071 | $ | 122,707 | $ | 391,340 | $ | 431,424 | $ | 369,442 | $ | 321,793 | $ | 309,076 | $ | 239,813 | $ | 29,968 | $ | (33,115 | ) | $ | 59,395 | ||||||||||||||||||||||||
Average total assets (in millions) | $ | 5,080 | $ | 4,909 | $ | 5,192 | $ | 21,655 | $ | 19,946 | $ | 17,650 | $ | 17,150 | $ | 16,437 | $ | 15,025 | $ | 16,480 | $ | 16,583 | $ | 14,170 | |||||||||||||||||||||||||
Capital expenditures (in millions) | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential Mortgage | Retail Banking | All Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Banking | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Net interest income(a) | $ | 98,496 | $ | 78,058 | $ | 63,951 | $ | 810,134 | $ | 902,906 | $ | 851,332 | $ | 43,904 | $ | (80,894 | ) | $ | (46,458 | ) | $ | 2,673,229 | $ | 2,598,516 | $ | 2,389,756 | |||||||||||||||||||||||
Noninterest income | 325,474 | 402,211 | 184,249 | 373,362 | 349,571 | 366,042 | 670,889 | 501,390 | 489,863 | 1,865,205 | 1,667,270 | 1,582,912 | |||||||||||||||||||||||||||||||||||||
423,970 | 480,269 | 248,200 | 1,183,496 | 1,252,477 | 1,217,374 | 714,793 | 420,496 | 443,405 | 4,538,434 | 4,265,786 | 3,972,668 | ||||||||||||||||||||||||||||||||||||||
Provision for credit losses | (11,711 | ) | 17,169 | 36,375 | 72,502 | 95,345 | 101,679 | (3,094 | ) | 4,917 | (61,349 | ) | 185,000 | 204,000 | 270,000 | ||||||||||||||||||||||||||||||||||
Amortization of core deposit and other intangible assets | — | — | — | — | — | — | 46,912 | 60,631 | 61,617 | 46,912 | 60,631 | 61,617 | |||||||||||||||||||||||||||||||||||||
Depreciation and other amortization | 48,716 | 46,902 | 44,349 | 34,599 | 32,734 | 33,713 | 57,120 | 50,536 | 45,495 | 156,823 | 143,930 | 136,163 | |||||||||||||||||||||||||||||||||||||
Other noninterest expense | 225,794 | 195,604 | 151,945 | 768,644 | 751,916 | 744,905 | 690,150 | 693,046 | 771,534 | 2,432,150 | 2,304,699 | 2,280,288 | |||||||||||||||||||||||||||||||||||||
Income (loss) before taxes | 161,171 | 220,594 | 15,531 | 307,751 | 372,482 | 337,077 | (76,295 | ) | (388,634 | ) | (373,892 | ) | 1,717,549 | 1,552,526 | 1,224,600 | ||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | 61,779 | 85,671 | 2,403 | 125,350 | 151,616 | 137,161 | (78,841 | ) | (207,887 | ) | (228,970 | ) | 579,069 | 523,028 | 365,121 | ||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 99,392 | $ | 134,923 | $ | 13,128 | $ | 182,401 | $ | 220,866 | $ | 199,916 | $ | 2,546 | $ | (180,747 | ) | $ | (144,922 | ) | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||||||||||||||||||
Average total assets (in millions) | $ | 2,858 | $ | 2,451 | $ | 1,958 | $ | 10,997 | $ | 11,705 | $ | 11,940 | $ | 9,442 | $ | 7,952 | $ | 8,042 | $ | 83,662 | $ | 79,983 | $ | 73,977 | |||||||||||||||||||||||||
Capital expenditures (in millions) | $ | — | $ | 1 | $ | — | $ | 40 | $ | 15 | $ | 25 | $ | 89 | $ | 76 | $ | 45 | $ | 130 | $ | 92 | $ | 70 | |||||||||||||||||||||||||
(a) | Net interest income is the difference between actual taxable-equivalent interest earned on assets and interest paid on liabilities by a segment and a funding charge (credit) based on the Company’s internal funds transfer pricing methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $24,971,000 in 2013, $26,391,000 in 2012 and $25,876,000 in 2011 and is eliminated in “All Other” net interest income and income tax expense (benefit). | ||||||||||||||||||||||||||||||||||||||||||||||||
Intersegment Activity Eliminated in Arriving at Consolidated Totals was Included in "All Other" Category | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The amount of intersegment activity eliminated in arriving at consolidated totals was included in the “All Other” category as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | (50,128 | ) | $ | (71,452 | ) | $ | (64,239 | ) | ||||||||||||||||||||||||||||||||||||||||
Expenses | (16,235 | ) | (17,313 | ) | (14,146 | ) | |||||||||||||||||||||||||||||||||||||||||||
Income taxes (benefit) | (13,791 | ) | (22,029 | ) | (20,383 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (20,102 | ) | (32,110 | ) | (29,710 | ) |
Regulatory_matters_Tables
Regulatory matters (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Capital Ratios and Amounts of Company and its Banking Subsidiaries | ' | ||||||||||||
The capital ratios and amounts of the Company and its banking subsidiaries as of December 31, 2013 and 2012 are presented below: | |||||||||||||
M&T | M&T Bank | Wilmington | |||||||||||
(Consolidated) | Trust, N.A. | ||||||||||||
(Dollars in thousands) | |||||||||||||
December 31, 2013: | |||||||||||||
Tier 1 capital | |||||||||||||
Amount | $ | 8,792,035 | $ | 7,341,506 | $ | 420,330 | |||||||
Ratio(a) | 12 | % | 10.08 | % | 73.79 | % | |||||||
Minimum required amount(b) | 2,930,925 | 2,914,246 | 22,786 | ||||||||||
Total capital | |||||||||||||
Amount | 11,045,589 | 9,445,770 | 424,975 | ||||||||||
Ratio(a) | 15.07 | % | 12.96 | % | 74.6 | % | |||||||
Minimum required amount(b) | 5,861,849 | 5,828,491 | 45,573 | ||||||||||
Leverage | |||||||||||||
Amount | 8,792,035 | 7,341,506 | 420,330 | ||||||||||
Ratio(c) | 10.78 | % | 9.09 | % | 19.8 | % | |||||||
Minimum required amount(b) | 2,446,476 | 2,422,096 | 63,678 | ||||||||||
December 31, 2012: | |||||||||||||
Tier 1 capital | |||||||||||||
Amount | $ | 7,810,196 | $ | 6,767,774 | $ | 405,469 | |||||||
Ratio(a) | 10.22 | % | 8.92 | % | 61.02 | % | |||||||
Minimum required amount(b) | 3,057,093 | 3,034,184 | 26,580 | ||||||||||
Total capital | |||||||||||||
Amount | 10,230,302 | 8,981,931 | 410,873 | ||||||||||
Ratio(a) | 13.39 | % | 11.84 | % | 61.83 | % | |||||||
Minimum required amount(b) | 6,114,186 | 6,068,367 | 53,160 | ||||||||||
Leverage | |||||||||||||
Amount | 7,810,196 | 6,767,774 | 405,469 | ||||||||||
Ratio(c) | 10.07 | % | 8.84 | % | 21.62 | % | |||||||
Minimum required amount(b) | 2,327,122 | 2,297,902 | 56,275 | ||||||||||
(a) | The ratio of capital to risk-weighted assets, as defined by regulation. | ||||||||||||
(b) | Minimum amount of capital to be considered adequately capitalized, as defined by regulation. | ||||||||||||
(c) | The ratio of capital to average assets, as defined by regulation. |
Parent_company_financial_state1
Parent company financial statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheet | ' | ||||||||||||
Condensed Balance Sheet | |||||||||||||
December 31 | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Assets | |||||||||||||
Cash in subsidiary bank | $ | 10,729 | $ | 4,774 | |||||||||
Due from consolidated bank subsidiaries | |||||||||||||
Money-market savings | 968,274 | 714,677 | |||||||||||
Current income tax receivable | 1,914 | 1,835 | |||||||||||
Other | 1,894 | — | |||||||||||
Total due from consolidated bank subsidiaries | 972,082 | 716,512 | |||||||||||
Investments in consolidated subsidiaries | |||||||||||||
Banks and bank holding company | 11,364,657 | 10,495,557 | |||||||||||
Other | 16,212 | 16,344 | |||||||||||
Investments in unconsolidated subsidiaries (note 19) | 33,751 | 33,916 | |||||||||||
Investment in Bayview Lending Group LLC | 73,883 | 93,489 | |||||||||||
Other assets | 80,098 | 83,975 | |||||||||||
Total assets | $ | 12,551,412 | $ | 11,444,567 | |||||||||
Liabilities | |||||||||||||
Due to consolidated bank subsidiaries | $ | — | $ | 213 | |||||||||
Accrued expenses and other liabilities | 62,817 | 60,619 | |||||||||||
Long-term borrowings | 1,183,063 | 1,181,142 | |||||||||||
Total liabilities | 1,245,880 | 1,241,974 | |||||||||||
Shareholders’ equity | 11,305,532 | 10,202,593 | |||||||||||
Total liabilities and shareholders’ equity | $ | 12,551,412 | $ | 11,444,567 | |||||||||
Condensed Statement of Income | ' | ||||||||||||
Condensed Statement of Income | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share) | |||||||||||||
Income | |||||||||||||
Dividends from consolidated bank subsidiaries | $ | 700,000 | $ | 700,000 | $ | 715,000 | |||||||
Equity in earnings of Bayview Lending Group LLC | (16,126 | ) | (21,511 | ) | (24,231 | ) | |||||||
Other income | 9,992 | 8,755 | 67,829 | ||||||||||
Total income | 693,866 | 687,244 | 758,598 | ||||||||||
Expense | |||||||||||||
Interest on long-term borrowings | 73,115 | 82,286 | 90,959 | ||||||||||
Other expense (a) | 15,994 | 19,226 | 87,368 | ||||||||||
Total expense | 89,109 | 101,512 | 178,327 | ||||||||||
Income before income taxes and equity in undistributed income of subsidiaries | 604,757 | 585,732 | 580,271 | ||||||||||
Income tax credits | 35,986 | 43,149 | 50,460 | ||||||||||
Income before equity in undistributed income of subsidiaries | 640,743 | 628,881 | 630,731 | ||||||||||
Equity in undistributed income of subsidiaries | |||||||||||||
Net income of subsidiaries | 1,197,737 | 1,100,617 | 943,748 | ||||||||||
Less: dividends received | (700,000 | ) | (700,000 | ) | (715,000 | ) | |||||||
Equity in undistributed income of subsidiaries | 497,737 | 400,617 | 228,748 | ||||||||||
Net income | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||
Net income per common share | |||||||||||||
Basic | $ | 8.26 | $ | 7.57 | $ | 6.37 | |||||||
Diluted | 8.2 | 7.54 | 6.35 | ||||||||||
(a) | In 2011 includes $79 million write-down of Investment in Bayview Lending Group LLC. | ||||||||||||
Condensed Statement of Cash Flow | ' | ||||||||||||
Condensed Statement of Cash Flows | |||||||||||||
Year Ended December 31 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Cash flows from operating activities | |||||||||||||
Net income | $ | 1,138,480 | $ | 1,029,498 | $ | 859,479 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||||
Equity in undistributed income of subsidiaries | (497,737 | ) | (400,617 | ) | (228,748 | ) | |||||||
Provision for deferred income taxes | 1,535 | 1,724 | (10,349 | ) | |||||||||
Asset write-downs | — | — | 79,012 | ||||||||||
Net change in accrued income and expense | 31,979 | 6,798 | 44,336 | ||||||||||
Net cash provided by operating activities | 674,257 | 637,403 | 743,730 | ||||||||||
Cash flows from investing activities | |||||||||||||
Proceeds from sales of investment securities | — | 411 | 1,987 | ||||||||||
Proceeds from maturities of investment securities | — | — | 4,400 | ||||||||||
Investment in subsidiary | (140,000 | ) | — | — | |||||||||
Purchase of Wilmington Trust Corporation preferred stock | — | — | (330,000 | ) | |||||||||
Other, net | 3,295 | 324 | 2,833 | ||||||||||
Net cash provided (used) by investing activities | (136,705 | ) | 735 | (320,780 | ) | ||||||||
Cash flows from financing activities | |||||||||||||
Payments on long-term borrowings | — | (300,000 | ) | — | |||||||||
Dividends paid — common | (365,349 | ) | (357,717 | ) | (350,129 | ) | |||||||
Dividends paid — preferred | (53,450 | ) | (53,450 | ) | (48,203 | ) | |||||||
Proceeds from issuance of preferred stock | — | — | 495,000 | ||||||||||
Redemption of preferred stock | — | — | (370,000 | ) | |||||||||
Other, net | 140,799 | 143,352 | 16,386 | ||||||||||
Net cash used by financing activities | (278,000 | ) | (567,815 | ) | (256,946 | ) | |||||||
Net increase in cash and cash equivalents | 259,552 | 70,323 | 166,004 | ||||||||||
Cash and cash equivalents at beginning of year | 719,451 | 649,128 | 483,124 | ||||||||||
Cash and cash equivalents at end of year | $ | 979,003 | $ | 719,451 | $ | 649,128 | |||||||
Supplemental disclosure of cash flow information | |||||||||||||
Interest received during the year | $ | 2,224 | $ | 1,970 | $ | 2,082 | |||||||
Interest paid during the year | 71,090 | 80,090 | 87,184 | ||||||||||
Income taxes received during the year | 45,237 | 21,878 | 57,964 |
Recovered_Sheet1
Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Significant Accounting Policies [Line Items] | ' |
Delinquent period in which principal or interest is charged against income (in days) | '90 days |
Delinquent period in which the net realizable value of the property collateralizing loan is charged-off | '150 days |
Estimated useful lives of core deposit and other intangible assets | '8 years |
Maximum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Consumer loans delay in payments | '90 days |
Consumer loans due in days | '180 days |
Estimated useful lives of core deposit and other intangible assets | '10 years |
Minimum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Consumer loans due in days | '91 days |
Estimated useful lives of core deposit and other intangible assets | '5 years |
Income tax benefit recognition criteria percentage threshold | 50.00% |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 27, 2012 | 31-May-11 | Aug. 27, 2012 | 31-May-11 | 31-May-11 | Aug. 27, 2012 | 16-May-13 | 31-May-11 | Dec. 31, 2011 | 16-May-11 | Dec. 31, 2013 | |
Common stock [Member] | Minimum [Member] | Maximum [Member] | Cash [Member] | Wilmington Trust Corporation Acquisition [Member] | Wilmington Trust Corporation Acquisition [Member] | Wilmington Trust Corporation Acquisition [Member] | Wilmington Trust Corporation Acquisition [Member] | Hudson City [Member] | ||||||
Office | ||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase consideration per common share | ' | ' | ' | 0.08403 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of total consideration | ' | ' | ' | ' | ' | 60.00% | ' | ' | 40.00% | ' | ' | ' | ' | ' |
Total consideration to be paid | $5,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 85,162,391,000 | 83,008,803,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,600,000,000 |
Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,200,000,000 |
Investment securities | 8,796,497,000 | 6,074,361,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,300,000,000 |
Liabilities | 73,856,859,000 | 72,806,210,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,900,000,000 |
Deposits | 67,118,612,000 | 65,611,253,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,500,000,000 |
Number of banking offices operated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55 | ' |
Shares of M&T common stock exchanged for each share of Wilmington Trust common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.051372 | ' |
Common stock issued for acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,694,486 | ' | ' | ' | ' |
Common shares issued for acquisition fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 405,557,000 | ' |
Assets acquired total | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,800,000,000 | ' | ' | ' | ' |
Loans and leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000,000 | ' | ' | ' | ' |
Commercial real estate loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,200,000,000 | ' | ' | ' | ' |
Commercial loans and leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' |
Consumer loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000,000 | ' | ' | ' | ' |
Residential real estate loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 680,000,000 | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000,000 | ' | ' | ' | ' |
Deposits | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,900,000,000 | ' | ' | ' | ' |
Value added in shareholders equity due to acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 406,000,000 | ' | ' | ' | ' |
Preferred stock redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330,000,000 | ' | ' | ' | ' |
Core deposit and other intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112,000,000 | ' | ' | ' | ' |
Intangible Assets Amortization | ' | ' | ' | ' | ' | ' | '5 years | '7 years | ' | ' | ' | ' | ' | ' |
Goodwill | 3,524,625,000 | 3,524,625,000 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Realized non-taxable gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,000,000 | ' | ' | ' |
Provision for credit losses | 185,000,000 | 204,000,000 | 270,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 42,000,000 | ' | ' |
Other- than-temporary impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' |
Merger related expenses associated with acquisition of Wilmington Trust | ' | ' | $84,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Pro_Forma_Informa
Acquisitions - Pro Forma Information (Detail) (USD $) | 7 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2011 |
Business Combinations [Abstract] | ' | ' |
Total revenues actual since acquisition | $380,945 | ' |
Total revenues pro forma | ' | 4,202,109 |
Net income actual since acquisition | 18,586 | ' |
Net income pro forma | ' | $808,696 |
Acquisitions_Summary_of_Merger
Acquisitions - Summary of Merger-Related Expenses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary of merger-related expenses | ' | ' | ' |
Salaries and employee benefits | $1,355,178 | $1,314,540 | $1,203,993 |
Equipment and net occupancy | 264,327 | 257,551 | 249,514 |
Printing, postage and supplies | 39,557 | 41,929 | 40,917 |
Other costs of operations | 860,327 | 733,499 | 821,797 |
Total merger-related expenses | ' | ' | 84,000 |
Bank Acquisition [Member] | ' | ' | ' |
Summary of merger-related expenses | ' | ' | ' |
Salaries and employee benefits | 836 | 4,997 | 16,131 |
Equipment and net occupancy | 690 | 15 | 412 |
Printing, postage and supplies | 1,825 | ' | 2,663 |
Other costs of operations | 9,013 | 4,867 | 64,481 |
Total merger-related expenses | $12,364 | $9,879 | $83,687 |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Other securities, Amortized cost | $298,581 | $302,648 |
Other securities, Gross unrealized gains | ' | ' |
Other securities, Gross unrealized losses | ' | ' |
Other securities, Estimated fair value | 298,581 | 302,648 |
Investment securities, available for sale, amortized cost | 4,444,365 | 4,643,070 |
Gross unrealized gains | 127,333 | 253,619 |
Gross unrealized losses | 39,912 | 157,252 |
Estimated fair value | 4,531,786 | 4,739,437 |
Amortized cost for held to maturity | 3,966,130 | 1,032,276 |
Gross unrealized gains for held to maturity | 19,904 | 39,534 |
Gross unrealized losses for held to maturity | 125,907 | 94,927 |
Estimated fair value for held to maturity | 3,860,127 | 976,883 |
Total Amortized cost | 8,709,076 | 5,977,994 |
Total for Gross unrealized gains | 147,237 | 293,153 |
Total for Gross unrealized losses | 165,819 | 252,179 |
Total for Estimated fair value | 8,690,494 | 6,018,968 |
Government Issued or Guaranteed [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Investment securities, available for sale, amortized cost | 4,123,435 | 3,163,210 |
Gross unrealized gains | 61,001 | 208,060 |
Gross unrealized losses | 19,350 | 229 |
Estimated fair value | 4,165,086 | 3,371,041 |
Amortized cost for held to maturity | 3,567,905 | 597,340 |
Gross unrealized gains for held to maturity | 16,160 | 31,727 |
Gross unrealized losses for held to maturity | 65,149 | ' |
Estimated fair value for held to maturity | 3,518,916 | 629,067 |
Privately issued [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Investment securities, available for sale, amortized cost | 1,468 | 1,142,287 |
Gross unrealized gains | 387 | 7,272 |
Gross unrealized losses | 5 | 125,673 |
Estimated fair value | 1,850 | 1,023,886 |
Amortized cost for held to maturity | 219,628 | 242,378 |
Gross unrealized gains for held to maturity | ' | 160 |
Gross unrealized losses for held to maturity | 60,623 | 94,900 |
Estimated fair value for held to maturity | 159,005 | 147,638 |
Collateralized Debt Obligations [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Investment securities, available for sale, amortized cost | 42,274 | 43,228 |
Gross unrealized gains | 21,666 | 19,663 |
Gross unrealized losses | 857 | 1,022 |
Estimated fair value | 63,083 | 61,869 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Investment securities, available for sale, amortized cost | 10,484 | 20,375 |
Gross unrealized gains | 333 | 534 |
Gross unrealized losses | 6 | 8 |
Estimated fair value | 10,811 | 20,901 |
Amortized cost for held to maturity | 169,684 | 182,103 |
Gross unrealized gains for held to maturity | 3,744 | 7,647 |
Gross unrealized losses for held to maturity | 135 | 27 |
Estimated fair value for held to maturity | 173,293 | 189,723 |
Other Debt Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Investment securities, available for sale, amortized cost | 137,828 | 136,603 |
Gross unrealized gains | 1,722 | 2,247 |
Gross unrealized losses | 19,465 | 26,900 |
Estimated fair value | 120,085 | 111,950 |
Amortized cost for held to maturity | 8,913 | 10,455 |
Gross unrealized gains for held to maturity | ' | ' |
Gross unrealized losses for held to maturity | ' | ' |
Estimated fair value for held to maturity | 8,913 | 10,455 |
U.S. Treasury and Federal Agencies [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Investment securities, available for sale, amortized cost | 37,396 | 38,422 |
Gross unrealized gains | 382 | 922 |
Gross unrealized losses | 2 | ' |
Estimated fair value | 37,776 | 39,344 |
Equity Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Investment securities, available for sale, amortized cost | 91,480 | 98,945 |
Gross unrealized gains | 41,842 | 14,921 |
Gross unrealized losses | 227 | 3,420 |
Estimated fair value | $133,095 | $110,446 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Investment Holdings [Line Items] | ' | ' | ' |
Percentage of share holders equity that is not exceeded by investment in security of single non-us government or government agency | 10.00% | ' | ' |
Gross realized gains on investment securities | $116,490,000 | ' | $150,223,000 |
Gross realized losses on investment securities | 60,033,000 | ' | 36,000 |
Number of investment securities with aggregate gross unrealized losses | 468 | ' | ' |
Unrealized losses on individual investment securities | -165,819,000 | -252,179,000 | ' |
Unrealized losses on privately issued residential mortgage-backed securities | 61,000,000 | ' | ' |
Unrealized losses on trust preferred securities issued by financial institutions and securities backed by trust preferred securities | 19,000,000 | ' | ' |
Cost method investment securities | 299,000,000 | ' | ' |
Investment securities pledged to secure debt carrying value | 3,902,317,000 | ' | ' |
Pledged securities that can be sold or repledged | 1,696,438,000 | 1,801,842,000 | ' |
Privately Issued Mortgage-Backed Securities [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Privately issued mortgage backed securities sold | 1,000,000,000 | ' | ' |
Net loss on securities sold | 46,302,000 | ' | ' |
Aggregate amortized cost on mortgage-backed securities | 220,000,000 | ' | ' |
Pre-tax other-than-temporary impairment losses | 10,000,000 | 48,000,000 | 77,000,000 |
Securities Backed by Trust Preferred Securities [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Aggregate amortized cost on mortgage-backed securities | 123,000,000 | ' | ' |
Available-for-sale securities [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Investment securities pledged to secure debt carrying value | 2,459,296,000 | ' | ' |
Trust preferred securities [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Aggregate amortized cost on mortgage-backed securities | ' | ' | 136,000,000 |
Pre-tax gain on sale of mortgage-backed securities | ' | ' | 25,000,000 |
Collateralized Debt Obligations [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Aggregate amortized cost on mortgage-backed securities | ' | ' | 100,000,000 |
Pre-tax gain on sale of mortgage-backed securities | ' | ' | 20,000,000 |
Government Issued or Guaranteed [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Aggregate amortized cost on mortgage-backed securities | ' | ' | 1,500,000,000 |
Pre-tax gain on sale of mortgage-backed securities | ' | ' | 104,000,000 |
Visa Class B [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Gain on sale of holdings | 89,545,000 | ' | ' |
MasterCard Class B [Member] | ' | ' | ' |
Investment Holdings [Line Items] | ' | ' | ' |
Gain on sale of holdings | $13,208,000 | ' | ' |
Investment_Securities_Investme
Investment Securities - Investment Ratings of All Privately Issued Mortgage-Backed Securities, Collateralized Debt Obligations and Other Debt Securities (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Amortized Cost | $590,279 |
Total securities with disclosed rating, Estimated Fair Value | 537,040 |
Obligations of States and Political Subdivisions [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Amortized Cost | 180,168 |
Total securities with disclosed rating, Estimated Fair Value | 184,104 |
Mortgage-backed Securities, Privately issued [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Amortized Cost | 221,096 |
Total securities with disclosed rating, Estimated Fair Value | 160,855 |
Collateralized Debt Obligations [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Amortized Cost | 42,274 |
Total securities with disclosed rating, Estimated Fair Value | 63,083 |
Other Debt Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Amortized Cost | 146,741 |
Total securities with disclosed rating, Estimated Fair Value | 128,998 |
A or Better [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 232,513 |
A or Better [Member] | Obligations of States and Political Subdivisions [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 152,704 |
A or Better [Member] | Mortgage-backed Securities, Privately issued [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 56,731 |
A or Better [Member] | Collateralized Debt Obligations [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 11,005 |
A or Better [Member] | Other Debt Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 12,073 |
BBB [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 66,524 |
BBB [Member] | Obligations of States and Political Subdivisions [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 6,359 |
BBB [Member] | Mortgage-backed Securities, Privately issued [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | ' |
BBB [Member] | Collateralized Debt Obligations [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 3,684 |
BBB [Member] | Other Debt Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 56,481 |
BB [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 38,070 |
BB [Member] | Obligations of States and Political Subdivisions [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 200 |
BB [Member] | Mortgage-backed Securities, Privately issued [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | ' |
BB [Member] | Collateralized Debt Obligations [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 8,904 |
BB [Member] | Other Debt Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 28,966 |
B or Less [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 164,790 |
B or Less [Member] | Obligations of States and Political Subdivisions [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | ' |
B or Less [Member] | Mortgage-backed Securities, Privately issued [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 104,000 |
B or Less [Member] | Collateralized Debt Obligations [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 39,490 |
B or Less [Member] | Other Debt Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 21,300 |
Not Rated [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 35,143 |
Not Rated [Member] | Obligations of States and Political Subdivisions [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 24,841 |
Not Rated [Member] | Mortgage-backed Securities, Privately issued [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | 124 |
Not Rated [Member] | Collateralized Debt Obligations [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | ' |
Not Rated [Member] | Other Debt Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Total securities with disclosed rating, Estimated Fair Value | $10,178 |
Investment_Securities_Amortize1
Investment Securities - Amortized Cost and Estimated Fair Value of Collateralized Mortgage Obligations (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Collateralized mortgage obligations, Amortized cost | $231,040 | $1,414,691 |
Estimated fair value | $171,100 | $1,202,243 |
Investment_Securities_Changes_
Investment Securities - Changes in Credit Losses Associated with Debt Securities for Which OTTI Losses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' |
Estimated credit losses - beginning balance | $197,809 | $285,399 | $327,912 |
Additions for credit losses not previously recognized | 9,800 | 47,822 | 77,035 |
Reductions for increases in cash flows | ' | ' | -5,111 |
Reductions for realized losses | -207,441 | -135,412 | -114,437 |
Estimated credit losses - ending balance | $168 | $197,809 | $285,399 |
Investment_Securities_Amortize2
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt securities available for sale: | ' | ' |
Due in one year or less | $29,839 | ' |
Due after one year through five years | 16,005 | ' |
Due after five years through ten years | 7,718 | ' |
Due after ten years | 174,420 | ' |
Total available for sale (amortized cost) | 227,982 | ' |
Mortgage-backed securities available for sale | 4,124,903 | ' |
Total | 4,352,885 | ' |
Debt securities held to maturity: | ' | ' |
Due in one year or less | 19,485 | ' |
Due after one year through five years | 68,713 | ' |
Due after five years through ten years | 81,486 | ' |
Due after ten years | 8,913 | ' |
Total available for held to maturity (amortized cost) | 178,597 | ' |
Mortgage-backed securities held to maturity | 3,787,533 | ' |
Total | 3,966,130 | 1,032,276 |
Debt securities available for sale: | ' | ' |
Due in one year or less | 30,036 | ' |
Due after one year through five years | 16,617 | ' |
Due after five years through ten years | 8,015 | ' |
Due after ten years | 177,087 | ' |
Total available for available for sale (fair value) | 231,755 | ' |
Mortgage-backed securities available for sale | 4,166,936 | ' |
Total | 4,398,691 | ' |
Debt securities held to maturity: | ' | ' |
Due in one year or less | 19,606 | ' |
Due after one year through five years | 70,618 | ' |
Due after five years through ten years | 83,069 | ' |
Due after ten years | 8,913 | ' |
Total available for held to maturity (fair value) | 182,206 | ' |
Mortgage-backed securities held to maturity | 3,677,921 | ' |
Estimated fair value for held to maturity | $3,860,127 | $976,883 |
Investment_Securities_Investme1
Investment Securities - Investment Securities in Continuous Unrealized Loss Position (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | $1,699,426 | $139,295 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | -19,458 | -2,053 |
Estimated fair value, 12 months or more | 116,330 | 888,499 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | -20,454 | -155,199 |
Held to maturity, Estimated fair value, Less than 12 months | 2,643,467 | 1,026 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | -65,269 | -5 |
Held to maturity, Estimated fair value, 12 months or more | 160,563 | 150,831 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | -60,638 | -94,922 |
Total investment securities, fair value less than 12 months | 4,342,893 | 140,321 |
Investment Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses | -84,727 | -2,058 |
Total of investment securities, fair value, 12 Months or More | 276,893 | 1,039,330 |
Investment Securities Continuous Unrealized Loss Position Twelve Months or Longer Aggregate Losses | -81,092 | -250,121 |
Government Issued or Guaranteed [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | 1,697,094 | 12,107 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | -19,225 | -65 |
Estimated fair value, 12 months or more | 5,815 | 8,804 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | -125 | -164 |
Held to maturity, Estimated fair value, Less than 12 months | 2,629,950 | ' |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | -65,149 | ' |
Held to maturity, Estimated fair value, 12 months or more | ' | ' |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | ' | ' |
Privately Issued Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Held to maturity, Estimated fair value, Less than 12 months | ' | ' |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | ' | ' |
Held to maturity, Estimated fair value, 12 months or more | 159,005 | 147,273 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | -60,623 | -94,900 |
Privately Issued Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | ' | 121,487 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | ' | -692 |
Estimated fair value, 12 months or more | 98 | 774,328 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | -5 | -124,981 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | ' | 166 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | ' | -1 |
Estimated fair value, 12 months or more | 558 | 683 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | -6 | -7 |
Held to maturity, Estimated fair value, Less than 12 months | 13,517 | 1,026 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | -120 | -5 |
Held to maturity, Estimated fair value, 12 months or more | 1,558 | 3,558 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | -15 | -22 |
U.S. Treasury and federal agencies [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | 745 | ' |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | -2 | ' |
Estimated fair value, 12 months or more | ' | ' |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | ' | ' |
Collateralized Debt Obligations [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | ' | ' |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | ' | ' |
Estimated fair value, 12 months or more | 6,257 | 6,043 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | -857 | -1,022 |
Other Debt Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | 1,428 | ' |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | -4 | ' |
Estimated fair value, 12 months or more | 103,602 | 95,685 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | -19,461 | -26,900 |
Equity Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Estimated fair value, Less than 12 months | 159 | 5,535 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | -227 | -1,295 |
Estimated fair value, 12 months or more | ' | 2,956 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | ' | ($2,125) |
Loans_and_Leases_Total_Gross_L
Loans and Leases - Total Gross Loans and Leases Outstanding (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans | ' | ' |
Commercial, financial, etc. | $17,477,238 | $16,500,202 |
Real estate: | ' | ' |
Residential | 8,911,554 | 11,161,323 |
Commercial | 21,799,886 | 22,333,036 |
Construction | 4,457,650 | 3,772,413 |
Consumer | 10,280,527 | 11,550,274 |
Total loans | 62,926,855 | 65,317,248 |
Leases | ' | ' |
Commercial | 1,398,928 | 1,472,938 |
Total loans and leases | 64,325,783 | 66,790,186 |
Less: unearned discount | -252,624 | -219,229 |
Total loans and leases, net of unearned discount | $64,073,159 | $66,570,957 |
Loans_and_Leases_Additional_In
Loans and Leases - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' | ' |
Residential mortgage loans securitized with Ginnie Mae | ' | $1,300,000,000 | $3,000,000,000 | ' | ' |
Automobile loans securitized and sold | 1,400,000,000 | ' | 1,400,000,000 | ' | ' |
Recognized gain | ' | 42,382,000 | 42,382,000 | ' | ' |
Recognized gains sale of securities | 20,683,000 | ' | 20,683,000 | ' | ' |
Charges incurred for reimbursement of loan | ' | ' | 17,000,000 | 28,000,000 | 23,000,000 |
Contractual principal and interest payments | ' | ' | 331,000,000 | 447,000,000 | ' |
Purchased impaired loans as a percentage of total assets | ' | ' | 'Less than 1% of the Company's assets | 'Less than 1% of the Company's assets | ' |
Interest income that would have been recognized on nonaccrual and renegotiated loans if those loans were accruing interest at their originally contracted terms | ' | ' | 62,010,000 | 69,054,000 | 80,278,000 |
Interest on nonaccrual and renegotiated loans included in interest income | ' | ' | 31,987,000 | 30,484,000 | 31,301,000 |
Exclusion limit of loans from related party disclosure | ' | ' | 'Less than $120,000 | ' | ' |
Borrowing by directors and certain officers of M&T and its banking subsidiaries and their associates | ' | ' | 135,512,000 | 99,532,000 | ' |
New borrowings by directors, certain officers and their associates | ' | ' | 44,799,000 | ' | ' |
Repayments and other reductions of borrowings by directors, certain officers and their associates | ' | ' | 8,819,000 | ' | ' |
Guaranteed amount included in the estimated residual value of leased assets associated with direct financing leases | ' | ' | 54,000,000 | 61,000,000 | ' |
Residential mortgage loans [Member] | ' | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' | ' |
Mortgage loans held for sale | ' | ' | 401,000,000 | 1,200,000,000 | ' |
Loans pledged to secure outstanding borrowings from the FHLB of New York | ' | ' | 5,300,000,000 | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' | ' |
Commercial real estate loans held for sale | ' | ' | 68,000,000 | 200,000,000 | ' |
Loans serviced for others sold with credit recourse | ' | ' | 2,300,000,000 | ' | ' |
Loans pledged to secure outstanding borrowings from the FHLB of New York | ' | ' | 9,600,000,000 | ' | ' |
Commercial loans and leases [Member] | ' | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans pledged to secure outstanding borrowings from the FHLB of New York | ' | ' | 8,900,000,000 | ' | ' |
Home equity loans and lines of credit [Member] | ' | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans pledged to secure outstanding borrowings from the FHLB of New York | ' | ' | 4,100,000,000 | ' | ' |
Other consumer loans [Member] | ' | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans pledged to secure outstanding borrowings from the FHLB of New York | ' | ' | $2,100,000,000 | ' | ' |
Loans_and_Leases_Outstanding_P
Loans and Leases - Outstanding Principal Balance and Carrying Amount of Loans that is Included in Consolidated Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Outstanding principal and carrying value of acquired loans recorded at fair value | ' | ' |
Outstanding principal balance | $4,656,811 | $6,705,120 |
Carrying amount | 4,007,452 | 5,840,353 |
Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Outstanding principal and carrying value of acquired loans recorded at fair value | ' | ' |
Carrying amount | 580,685 | 928,107 |
Real Estate Commercial [Member] | ' | ' |
Outstanding principal and carrying value of acquired loans recorded at fair value | ' | ' |
Carrying amount | 1,541,368 | 2,567,050 |
Residential Real Estate [Member] | ' | ' |
Outstanding principal and carrying value of acquired loans recorded at fair value | ' | ' |
Carrying amount | 576,473 | 707,309 |
Consumer [Member] | ' | ' |
Outstanding principal and carrying value of acquired loans recorded at fair value | ' | ' |
Carrying amount | $1,308,926 | $1,637,887 |
Loans_and_Leases_Summary_of_Ch
Loans and Leases - Summary of Changes in Accretable Yield for Acquired Loans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Purchased impaired [Member] | ' | ' | ' |
Summary of changes in Accretable Yield for acquired loans | ' | ' | ' |
Balance at beginning of period | $42,252 | $30,805 | $9,245 |
Additions | ' | ' | 39,358 |
Interest income | -36,727 | -40,551 | -26,221 |
Reclassifications from nonaccretable balance, net | 31,705 | 51,998 | 8,629 |
Other (a) | ' | ' | -206 |
Balance at end of period | 37,230 | 42,252 | 30,805 |
Other [Member] | ' | ' | ' |
Summary of changes in Accretable Yield for acquired loans | ' | ' | ' |
Balance at beginning of period | 638,272 | 807,960 | 447,505 |
Additions | ' | ' | 648,631 |
Interest income | -247,295 | -295,654 | -268,315 |
Reclassifications from nonaccretable balance, net | 149,595 | 148,490 | 1,800 |
Other (a) | -1,939 | -22,524 | -21,661 |
Balance at end of period | $538,633 | $638,272 | $807,960 |
Loans_and_Leases_Summary_of_Cu
Loans and Leases - Summary of Current, Past Due and Nonaccrual Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans And Leases Receivable [Line Items] | ' | ' |
Current | $61,664,881 | $63,854,815 |
30-89 Days Past Due | 704,658 | 730,901 |
Purchased Impaired (b) | 330,792 | 447,114 |
Nonaccrual | 874,156 | 1,013,176 |
Total | 64,073,159 | 66,570,957 |
Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 18,489,474 | 17,511,052 |
30-89 Days Past Due | 77,538 | 62,479 |
Purchased Impaired (b) | 15,706 | 17,437 |
Nonaccrual | 110,739 | 151,908 |
Total | 18,705,216 | 17,776,953 |
Commercial [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 21,236,071 | 21,759,997 |
30-89 Days Past Due | 145,749 | 118,249 |
Purchased Impaired (b) | 88,034 | 132,962 |
Nonaccrual | 173,048 | 193,859 |
Total | 21,741,858 | 22,273,173 |
Residential Builder and Developer [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 1,025,984 | 757,311 |
30-89 Days Past Due | 8,486 | 35,419 |
Purchased Impaired (b) | 137,544 | 187,764 |
Nonaccrual | 96,427 | 181,865 |
Total | 1,276,512 | 1,189,526 |
Other Commercial Construction [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 2,986,598 | 2,379,953 |
30-89 Days Past Due | 42,234 | 35,274 |
Purchased Impaired (b) | 57,707 | 68,971 |
Nonaccrual | 35,268 | 36,812 |
Total | 3,129,838 | 2,531,091 |
Residential [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 7,630,368 | 9,811,956 |
30-89 Days Past Due | 295,131 | 337,969 |
Purchased Impaired (b) | 29,184 | 36,769 |
Nonaccrual | 252,805 | 249,314 |
Total | 8,545,837 | 10,794,316 |
Residential Alt-A [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 283,253 | 331,021 |
30-89 Days Past Due | 18,009 | 19,692 |
Purchased Impaired (b) | ' | ' |
Nonaccrual | 81,122 | 95,808 |
Total | 382,384 | 446,521 |
Home equity lines and loans [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 5,972,365 | 6,199,591 |
30-89 Days Past Due | 40,537 | 40,759 |
Purchased Impaired (b) | 2,617 | 3,211 |
Nonaccrual | 78,516 | 58,071 |
Total | 6,121,789 | 6,321,950 |
Automobile [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 1,314,246 | 2,442,502 |
30-89 Days Past Due | 29,144 | 40,461 |
Purchased Impaired (b) | ' | ' |
Nonaccrual | 21,144 | 25,107 |
Total | 1,364,900 | 2,508,321 |
Other [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
Current | 2,726,522 | 2,661,432 |
30-89 Days Past Due | 47,830 | 40,599 |
Purchased Impaired (b) | ' | ' |
Nonaccrual | 25,087 | 20,432 |
Total | 2,804,825 | 2,729,106 |
Non-Acquired [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 368,510 | 358,397 |
Non-Acquired [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 4,981 | 23,490 |
Non-Acquired [Member] | Commercial [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 63,353 | 13,111 |
Non-Acquired [Member] | Residential Builder and Developer [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 141 | 3,258 |
Non-Acquired [Member] | Other Commercial Construction [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | ' | 509 |
Non-Acquired [Member] | Residential [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 294,649 | 313,184 |
Non-Acquired [Member] | Residential Alt-A [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | ' | ' |
Non-Acquired [Member] | Home equity lines and loans [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | ' | ' |
Non-Acquired [Member] | Automobile [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | ' | ' |
Non-Acquired [Member] | Other [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 5,386 | 4,845 |
Acquired [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 130,162 | 166,554 |
Acquired [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 6,778 | 10,587 |
Acquired [Member] | Commercial [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 35,603 | 54,995 |
Acquired [Member] | Residential Builder and Developer [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 7,930 | 23,909 |
Acquired [Member] | Other Commercial Construction [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 8,031 | 9,572 |
Acquired [Member] | Residential [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 43,700 | 45,124 |
Acquired [Member] | Residential Alt-A [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | ' | ' |
Acquired [Member] | Home equity lines and loans [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 27,754 | 20,318 |
Acquired [Member] | Automobile [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | 366 | 251 |
Acquired [Member] | Other [Member] | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' |
90 Days Or More Past Due And Accruing - Non-Acquired | ' | $1,798 |
Loans_and_Leases_Loan_Modifica
Loans and Leases - Loan Modification Activities that were Considered Troubled Debt Restructurings (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Modification | Modification | Modification | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 1,258 | 1,608 | 1,780 |
Pre-modification Recorded Investment | $258,075 | $256,681 | $332,160 |
Post-modification, Recorded Investment | 254,352 | 251,018 | 313,827 |
Financial Effects of Modification, Recorded Investment | -3,723 | -5,663 | -18,333 |
Financial Effects of Modification, Interest | -4,691 | -2,853 | -6,338 |
Principal deferral [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 79 | 61 | 53 |
Pre-modification Recorded Investment | 16,389 | 23,888 | 10,703 |
Post-modification, Recorded Investment | 16,002 | 22,456 | 10,778 |
Financial Effects of Modification, Recorded Investment | -387 | -1,432 | 75 |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 27 | 24 | 29 |
Pre-modification Recorded Investment | 40,639 | 22,855 | 16,804 |
Post-modification, Recorded Investment | 40,464 | 23,059 | 16,704 |
Financial Effects of Modification, Recorded Investment | -175 | 204 | -100 |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Residential Builder and Developer [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 18 | 23 | 9 |
Pre-modification Recorded Investment | 21,423 | 36,868 | 33,208 |
Post-modification, Recorded Investment | 20,577 | 34,740 | 26,811 |
Financial Effects of Modification, Recorded Investment | -846 | -2,128 | -6,397 |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Other Commercial Construction [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 3 | 6 | 3 |
Pre-modification Recorded Investment | 590 | 81,062 | 8,436 |
Post-modification, Recorded Investment | 521 | 79,312 | 8,553 |
Financial Effects of Modification, Recorded Investment | -69 | -1,750 | 117 |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 32 | 36 | 37 |
Pre-modification Recorded Investment | 3,556 | 4,643 | 8,175 |
Post-modification, Recorded Investment | 3,821 | 4,808 | 8,235 |
Financial Effects of Modification, Recorded Investment | 265 | 165 | 60 |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Residential Alt-A [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 10 | 7 | 3 |
Pre-modification Recorded Investment | 1,900 | 968 | 800 |
Post-modification, Recorded Investment | 1,880 | 989 | 835 |
Financial Effects of Modification, Recorded Investment | -20 | 21 | 35 |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Home equity lines and loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 10 | 15 | 3 |
Pre-modification Recorded Investment | 859 | 1,285 | 259 |
Post-modification, Recorded Investment | 861 | 1,285 | 259 |
Financial Effects of Modification, Recorded Investment | 2 | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Automobile [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 460 | 618 | 746 |
Pre-modification Recorded Investment | 6,148 | 8,347 | 10,053 |
Post-modification, Recorded Investment | 6,148 | 8,347 | 10,053 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Principal deferral [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 36 | 80 | 23 |
Pre-modification Recorded Investment | 332 | 1,201 | 400 |
Post-modification, Recorded Investment | 332 | 1,201 | 400 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Other [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 4 | 3 | ' |
Pre-modification Recorded Investment | 50,433 | 2,967 | ' |
Post-modification, Recorded Investment | 50,924 | 3,052 | ' |
Financial Effects of Modification, Recorded Investment | 491 | 85 | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Other [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 2 | ' | ' |
Pre-modification Recorded Investment | 449 | ' | ' |
Post-modification, Recorded Investment | 475 | ' | ' |
Financial Effects of Modification, Recorded Investment | 26 | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Other [Member] | Residential Builder and Developer [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 1 | ' | 6 |
Pre-modification Recorded Investment | 4,039 | ' | 118,114 |
Post-modification, Recorded Investment | 3,888 | ' | 110,156 |
Financial Effects of Modification, Recorded Investment | -151 | ' | -7,958 |
Financial Effects of Modification, Interest | ' | ' | ' |
Other [Member] | Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 1 | ' | ' |
Pre-modification Recorded Investment | 195 | ' | ' |
Post-modification, Recorded Investment | 195 | ' | ' |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Other [Member] | Home equity lines and loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 1 | ' | 3 |
Pre-modification Recorded Investment | 106 | ' | 86 |
Post-modification, Recorded Investment | 106 | ' | 86 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Other [Member] | Automobile [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 78 | 67 | 111 |
Pre-modification Recorded Investment | 339 | 300 | 739 |
Post-modification, Recorded Investment | 339 | 300 | 739 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Other [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 2 | 13 | 4 |
Pre-modification Recorded Investment | 14 | 54 | 103 |
Post-modification, Recorded Investment | 14 | 54 | 103 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | ' | ' | ' |
Combination of concession types [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 11 | 5 | 3 |
Pre-modification Recorded Investment | 6,229 | 628 | 2,049 |
Post-modification, Recorded Investment | 5,578 | 740 | 2,046 |
Financial Effects of Modification, Recorded Investment | -651 | 112 | -3 |
Financial Effects of Modification, Interest | -458 | -102 | -654 |
Combination of concession types [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 9 | 7 | 3 |
Pre-modification Recorded Investment | 2,649 | 1,637 | 15,778 |
Post-modification, Recorded Investment | 3,040 | 1,656 | 15,777 |
Financial Effects of Modification, Recorded Investment | 391 | 19 | -1 |
Financial Effects of Modification, Interest | -250 | -351 | -1,463 |
Combination of concession types [Member] | Residential Builder and Developer [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 3 | 7 | 5 |
Pre-modification Recorded Investment | 15,580 | 37,602 | 2,540 |
Post-modification, Recorded Investment | 15,514 | 36,148 | 2,561 |
Financial Effects of Modification, Recorded Investment | -66 | -1,454 | 21 |
Financial Effects of Modification, Interest | -535 | ' | ' |
Combination of concession types [Member] | Other Commercial Construction [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | ' | ' | 3 |
Pre-modification Recorded Investment | ' | ' | 65,813 |
Post-modification, Recorded Investment | ' | ' | 60,973 |
Financial Effects of Modification, Recorded Investment | ' | ' | -4,840 |
Combination of concession types [Member] | Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 61 | 62 | 111 |
Pre-modification Recorded Investment | 73,940 | 12,886 | 19,508 |
Post-modification, Recorded Investment | 70,854 | 13,146 | 19,934 |
Financial Effects of Modification, Recorded Investment | -3,086 | 260 | 426 |
Financial Effects of Modification, Interest | -924 | -657 | -1,559 |
Combination of concession types [Member] | Residential Alt-A [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 19 | 38 | 34 |
Pre-modification Recorded Investment | 2,826 | 8,525 | 6,813 |
Post-modification, Recorded Investment | 3,148 | 8,717 | 6,978 |
Financial Effects of Modification, Recorded Investment | 322 | 192 | 165 |
Financial Effects of Modification, Interest | -790 | -159 | -889 |
Combination of concession types [Member] | Home equity lines and loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 28 | 29 | 26 |
Pre-modification Recorded Investment | 2,190 | 2,332 | 2,156 |
Post-modification, Recorded Investment | 2,190 | 2,332 | 2,158 |
Financial Effects of Modification, Recorded Investment | ' | ' | 2 |
Financial Effects of Modification, Interest | -270 | -368 | -444 |
Combination of concession types [Member] | Automobile [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 225 | 375 | 431 |
Pre-modification Recorded Investment | 2,552 | 5,857 | 6,703 |
Post-modification, Recorded Investment | 2,552 | 5,857 | 6,703 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | -191 | -684 | -808 |
Combination of concession types [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 120 | 84 | 102 |
Pre-modification Recorded Investment | 4,248 | 1,015 | 803 |
Post-modification, Recorded Investment | 4,248 | 1,015 | 803 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | -1,187 | -268 | -189 |
Interest rate reduction [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 1 | ' | ' |
Pre-modification Recorded Investment | 104 | ' | ' |
Post-modification, Recorded Investment | 335 | ' | ' |
Financial Effects of Modification, Recorded Investment | 231 | ' | ' |
Financial Effects of Modification, Interest | -54 | ' | ' |
Interest rate reduction [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | ' | 2 | ' |
Pre-modification Recorded Investment | ' | 665 | ' |
Post-modification, Recorded Investment | ' | 708 | ' |
Financial Effects of Modification, Recorded Investment | ' | 43 | ' |
Financial Effects of Modification, Interest | ' | -129 | ' |
Interest rate reduction [Member] | Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | ' | 1 | 14 |
Pre-modification Recorded Investment | ' | 109 | 1,926 |
Post-modification, Recorded Investment | ' | 109 | 1,991 |
Financial Effects of Modification, Recorded Investment | ' | ' | 65 |
Financial Effects of Modification, Interest | ' | -20 | -318 |
Interest rate reduction [Member] | Home equity lines and loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 1 | 1 | ' |
Pre-modification Recorded Investment | 99 | 144 | ' |
Post-modification, Recorded Investment | 99 | 144 | ' |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | -8 | -6 | ' |
Interest rate reduction [Member] | Automobile [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 15 | 22 | 17 |
Pre-modification Recorded Investment | 235 | 328 | 183 |
Post-modification, Recorded Investment | 235 | 328 | 183 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | -22 | -24 | -13 |
Interest rate reduction [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of modifications | 1 | 22 | 1 |
Pre-modification Recorded Investment | 12 | 515 | 8 |
Post-modification, Recorded Investment | 12 | 515 | 8 |
Financial Effects of Modification, Recorded Investment | ' | ' | ' |
Financial Effects of Modification, Interest | ($2) | ($85) | ($1) |
Loans_and_Leases_Summary_of_Le
Loans and Leases - Summary of Lease Financing Receivables (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Direct financings: | ' | ' |
Lease payments receivable | $1,052,214 | $1,106,434 |
Estimated residual value of leased assets | 85,595 | 96,468 |
Unearned income | -114,101 | -134,428 |
Investment in direct financings | 1,023,708 | 1,068,474 |
Leveraged leases: | ' | ' |
Lease payments receivable | 127,821 | 132,466 |
Estimated residual value of leased assets | 133,298 | 137,570 |
Unearned income | -47,188 | -50,378 |
Investment in leveraged leases | 213,931 | 219,658 |
Total investment in leases. | 1,237,639 | 1,288,132 |
Deferred taxes payable arising from leveraged leases | $172,296 | $172,026 |
Loans_and_Leases_Minimum_Futur
Loans and Leases - Minimum Future Lease Payments to be Received from Lease Financings (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Receivables [Abstract] | ' |
2014 | $268,434 |
2015 | 247,620 |
2016 | 193,920 |
2017 | 122,781 |
2018 | 85,341 |
Later years | 261,939 |
Total | $1,180,035 |
Allowance_for_Credit_Losses_Ch
Allowance for Credit Losses - Changes in Allowance for Credit Losses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | $925,860 | $908,290 | $902,941 |
Provision for credit losses | 185,000 | 204,000 | 270,000 |
Allowance related to loans sold or securitized | -11,000 | ' | ' |
Net charge-offs | ' | ' | ' |
Charge-offs | -253,510 | -230,755 | -309,487 |
Recoveries | 70,326 | 44,325 | 44,836 |
Net charge-offs | -183,184 | -186,430 | -264,651 |
Ending balance | 916,676 | 925,860 | 908,290 |
Commercial, Financial, Leasing, etc. [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 246,759 | 234,022 | 212,579 |
Provision for credit losses | 124,180 | 42,510 | 66,240 |
Net charge-offs | ' | ' | ' |
Charge-offs | -109,329 | -41,148 | -55,021 |
Recoveries | 11,773 | 11,375 | 10,224 |
Net charge-offs | -97,556 | -29,773 | -44,797 |
Ending balance | 273,383 | 246,759 | 234,022 |
Real Estate Commercial [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 337,101 | 367,637 | 400,562 |
Provision for credit losses | 275 | 5,211 | 44,404 |
Net charge-offs | ' | ' | ' |
Charge-offs | -34,595 | -41,945 | -86,869 |
Recoveries | 22,197 | 6,198 | 9,540 |
Net charge-offs | -12,398 | -35,747 | -77,329 |
Ending balance | 324,978 | 337,101 | 367,637 |
Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 88,807 | 91,915 | 86,351 |
Provision for credit losses | 3,149 | 34,864 | 57,081 |
Net charge-offs | ' | ' | ' |
Charge-offs | -23,621 | -44,314 | -58,351 |
Recoveries | 10,321 | 6,342 | 6,834 |
Net charge-offs | -13,300 | -37,972 | -51,517 |
Ending balance | 78,656 | 88,807 | 91,915 |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 179,418 | 143,121 | 133,067 |
Provision for credit losses | 56,156 | 119,235 | 101,062 |
Allowance related to loans sold or securitized | -11,000 | ' | ' |
Net charge-offs | ' | ' | ' |
Charge-offs | -85,965 | -103,348 | -109,246 |
Recoveries | 26,035 | 20,410 | 18,238 |
Net charge-offs | -59,930 | -82,938 | -91,008 |
Ending balance | 164,644 | 179,418 | 143,121 |
Unallocated [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 73,775 | 71,595 | 70,382 |
Provision for credit losses | 1,240 | 2,180 | 1,213 |
Net charge-offs | ' | ' | ' |
Ending balance | $75,015 | $73,775 | $71,595 |
Allowance_for_Credit_Losses_Ad
Allowance for Credit Losses - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Financing Receivable Allowance For Credit Loss Additional Information [Abstract] | ' |
Loan delinquent period | '90 days |
Delinquency period for loan level collectability analysis consumer mortgage | 'More than 150 days |
Allowance_for_Credit_Losses_Im
Allowance for Credit Losses - Impaired Loans and Leases (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | $889,226 | $1,072,026 |
Unpaid Principal Balance | 1,083,258 | 1,354,133 |
Related Allowance | 92,608 | 132,682 |
Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 118,386 | 159,913 |
Unpaid Principal Balance | 145,187 | 191,733 |
Related Allowance | 24,614 | 33,829 |
Commercial Real Estate [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 178,841 | 199,922 |
Unpaid Principal Balance | 216,658 | 244,183 |
Related Allowance | 19,520 | 23,641 |
Residential Builder and Developer [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 105,677 | 189,613 |
Unpaid Principal Balance | 159,890 | 321,656 |
Related Allowance | 4,379 | 25,661 |
Other Commercial Construction [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 93,629 | 96,562 |
Unpaid Principal Balance | 102,008 | 100,401 |
Related Allowance | 4,022 | 6,836 |
Residential [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 180,652 | 189,793 |
Unpaid Principal Balance | 209,879 | 218,267 |
Related Allowance | 7,146 | 3,521 |
Residential Alt-A [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 140,268 | 160,245 |
Unpaid Principal Balance | 176,739 | 200,708 |
Related Allowance | 14,000 | 17,000 |
Home equity lines and loans [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 13,672 | 12,360 |
Unpaid Principal Balance | 14,796 | 13,567 |
Related Allowance | 3,312 | 2,254 |
Automobile [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 40,441 | 49,210 |
Unpaid Principal Balance | 40,441 | 49,210 |
Related Allowance | 11,074 | 14,273 |
Other [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 17,660 | 14,408 |
Unpaid Principal Balance | 17,660 | 14,408 |
Related Allowance | 4,541 | 5,667 |
Impaired Financing Receivable With Related Allowance [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 603,626 | 745,994 |
Unpaid Principal Balance | 702,000 | 927,411 |
Related Allowance | 92,608 | 132,682 |
Impaired Financing Receivable With Related Allowance [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 90,293 | 127,282 |
Unpaid Principal Balance | 112,092 | 149,534 |
Related Allowance | 24,614 | 33,829 |
Impaired Financing Receivable With Related Allowance [Member] | Commercial Real Estate [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 113,570 | 121,542 |
Unpaid Principal Balance | 132,325 | 143,846 |
Related Allowance | 19,520 | 23,641 |
Impaired Financing Receivable With Related Allowance [Member] | Residential Builder and Developer [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 33,311 | 115,306 |
Unpaid Principal Balance | 55,122 | 216,218 |
Related Allowance | 4,379 | 25,661 |
Impaired Financing Receivable With Related Allowance [Member] | Other Commercial Construction [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 86,260 | 73,544 |
Unpaid Principal Balance | 90,515 | 76,869 |
Related Allowance | 4,022 | 6,836 |
Impaired Financing Receivable With Related Allowance [Member] | Residential [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 96,508 | 103,451 |
Unpaid Principal Balance | 114,521 | 121,819 |
Related Allowance | 7,146 | 3,521 |
Impaired Financing Receivable With Related Allowance [Member] | Residential Alt-A [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 111,911 | 128,891 |
Unpaid Principal Balance | 124,528 | 141,940 |
Related Allowance | 14,000 | 17,000 |
Impaired Financing Receivable With Related Allowance [Member] | Home equity lines and loans [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 13,672 | 12,360 |
Unpaid Principal Balance | 14,796 | 13,567 |
Related Allowance | 3,312 | 2,254 |
Impaired Financing Receivable With Related Allowance [Member] | Automobile [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 40,441 | 49,210 |
Unpaid Principal Balance | 40,441 | 49,210 |
Related Allowance | 11,074 | 14,273 |
Impaired Financing Receivable With Related Allowance [Member] | Other [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 17,660 | 14,408 |
Unpaid Principal Balance | 17,660 | 14,408 |
Related Allowance | 4,541 | 5,667 |
Impaired Financing Receivable with No Related Allowance [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 285,600 | 326,032 |
Unpaid Principal Balance | 381,258 | 426,722 |
Related Allowance | ' | ' |
Impaired Financing Receivable with No Related Allowance [Member] | Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 28,093 | 32,631 |
Unpaid Principal Balance | 33,095 | 42,199 |
Related Allowance | ' | ' |
Impaired Financing Receivable with No Related Allowance [Member] | Commercial Real Estate [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 65,271 | 78,380 |
Unpaid Principal Balance | 84,333 | 100,337 |
Related Allowance | ' | ' |
Impaired Financing Receivable with No Related Allowance [Member] | Residential Builder and Developer [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 72,366 | 74,307 |
Unpaid Principal Balance | 104,768 | 105,438 |
Related Allowance | ' | ' |
Impaired Financing Receivable with No Related Allowance [Member] | Other Commercial Construction [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 7,369 | 23,018 |
Unpaid Principal Balance | 11,493 | 23,532 |
Related Allowance | ' | ' |
Impaired Financing Receivable with No Related Allowance [Member] | Residential [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 84,144 | 86,342 |
Unpaid Principal Balance | 95,358 | 96,448 |
Related Allowance | ' | ' |
Impaired Financing Receivable with No Related Allowance [Member] | Residential Alt-A [Member] | ' | ' |
Schedule Of Financial Receivables [Line Items] | ' | ' |
Recorded Investment | 28,357 | 31,354 |
Unpaid Principal Balance | 52,211 | 58,768 |
Related Allowance | ' | ' |
Allowance_for_Credit_Losses_In
Allowance for Credit Losses - Interest Income Recognized on Loans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | $1,001,641 | $1,063,782 | $1,145,129 |
Interest Income Recognized, Total | 35,560 | 29,419 | 25,028 |
Interest Income Recognized, Cash Basis | 25,451 | 18,520 | 12,313 |
Commercial, Financial, Leasing, etc. [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 155,188 | 151,314 | 163,485 |
Interest Income Recognized, Total | 7,197 | 2,938 | 3,306 |
Interest Income Recognized, Cash Basis | 7,197 | 2,938 | 3,278 |
Commercial Real Estate [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 197,533 | 185,171 | 189,837 |
Interest Income Recognized, Total | 4,852 | 2,834 | 2,060 |
Interest Income Recognized, Cash Basis | 4,852 | 2,834 | 1,985 |
Residential Builder and Developer [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 147,288 | 249,191 | 317,296 |
Interest Income Recognized, Total | 1,043 | 1,563 | 1,948 |
Interest Income Recognized, Cash Basis | 796 | 1,102 | 860 |
Other Commercial Construction [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 96,475 | 99,672 | 105,947 |
Interest Income Recognized, Total | 5,248 | 5,020 | 926 |
Interest Income Recognized, Cash Basis | 5,248 | 5,020 | 684 |
Residential [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 183,059 | 132,888 | 99,107 |
Interest Income Recognized, Total | 6,203 | 5,284 | 4,271 |
Interest Income Recognized, Cash Basis | 4,111 | 3,300 | 2,286 |
Residential Alt-A [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 149,461 | 171,546 | 196,161 |
Interest Income Recognized, Total | 6,784 | 7,175 | 7,713 |
Interest Income Recognized, Cash Basis | 2,341 | 2,226 | 1,965 |
Home equity lines and loans [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 12,811 | 11,322 | 11,428 |
Interest Income Recognized, Total | 683 | 663 | 681 |
Interest Income Recognized, Cash Basis | 183 | 179 | 106 |
Automobile [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 44,116 | 51,650 | 56,862 |
Interest Income Recognized, Total | 2,916 | 3,470 | 3,850 |
Interest Income Recognized, Cash Basis | 515 | 724 | 1,060 |
Other [Member] | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' |
Average Recorded Investment | 15,710 | 11,028 | 5,006 |
Interest Income Recognized, Total | 634 | 472 | 273 |
Interest Income Recognized, Cash Basis | $208 | $197 | $89 |
Allowance_for_Credit_Losses_Su
Allowance for Credit Losses - Summary of Loan Grades (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | $64,073,159 | $66,570,957 |
Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 18,705,216 | 17,776,953 |
Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 17,894,592 | 16,889,753 |
Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 699,885 | 735,292 |
Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 110,739 | 151,908 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 21,741,858 | 22,273,173 |
Commercial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 20,972,257 | 21,275,182 |
Commercial [Member] | Criticized Accrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 596,553 | 804,132 |
Commercial [Member] | Criticized Nonaccrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 173,048 | 193,859 |
Residential Builder and Developer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 1,276,512 | 1,189,526 |
Residential Builder and Developer [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 1,107,144 | 922,141 |
Residential Builder and Developer [Member] | Criticized Accrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 72,941 | 85,520 |
Residential Builder and Developer [Member] | Criticized Nonaccrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 96,427 | 181,865 |
Other Commercial Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 3,129,838 | 2,531,091 |
Other Commercial Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 3,040,106 | 2,307,436 |
Other Commercial Construction [Member] | Criticized Accrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 54,464 | 186,843 |
Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | $35,268 | $36,812 |
Allowance_for_Credit_Losses_Al
Allowance for Credit Losses - Allocation of Allowance for Credit Losses on Basis of Company's Impairment Methodology (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | $916,676 | $925,860 | $908,290 | $902,941 |
Allocated [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 841,661 | 852,085 | ' | ' |
Unallocated [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 75,015 | 73,775 | ' | ' |
Individually Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 92,231 | 131,656 | ' | ' |
Collectively Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 742,951 | 717,064 | ' | ' |
Purchased Impaired [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 6,479 | 3,365 | ' | ' |
Commercial, Financial, Leasing, etc. [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 273,383 | 246,759 | 234,022 | 212,579 |
Commercial, Financial, Leasing, etc. [Member] | Allocated [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 273,383 | 246,759 | ' | ' |
Commercial, Financial, Leasing, etc. [Member] | Individually Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 24,614 | 33,669 | ' | ' |
Commercial, Financial, Leasing, etc. [Member] | Collectively Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 246,096 | 212,930 | ' | ' |
Commercial, Financial, Leasing, etc. [Member] | Purchased Impaired [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 2,673 | 160 | ' | ' |
Commercial Real Estate [Member] | Allocated [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 324,978 | 337,101 | ' | ' |
Commercial Real Estate [Member] | Individually Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 27,563 | 55,291 | ' | ' |
Commercial Real Estate [Member] | Collectively Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 296,781 | 280,789 | ' | ' |
Commercial Real Estate [Member] | Purchased Impaired [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 634 | 1,021 | ' | ' |
Residential Real Estate [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 78,656 | 88,807 | 91,915 | 86,351 |
Residential Real Estate [Member] | Allocated [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 78,656 | 88,807 | ' | ' |
Residential Real Estate [Member] | Individually Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 21,127 | 20,502 | ' | ' |
Residential Real Estate [Member] | Collectively Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 55,864 | 66,684 | ' | ' |
Residential Real Estate [Member] | Purchased Impaired [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 1,665 | 1,621 | ' | ' |
Consumer loans [Member] | Allocated [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 164,644 | 179,418 | ' | ' |
Consumer loans [Member] | Individually Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 18,927 | 22,194 | ' | ' |
Consumer loans [Member] | Collectively Evaluated for Impairment [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | 144,210 | 156,661 | ' | ' |
Consumer loans [Member] | Purchased Impaired [Member] | ' | ' | ' | ' |
Loans And Leases Receivable [Line Items] | ' | ' | ' | ' |
Allowance for credit losses | $1,507 | $563 | ' | ' |
Allowance_for_Credit_Losses_Re
Allowance for Credit Losses - Recorded Investment in Loans and Leases on Basis of Company's Impairment Methodology (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | $64,073,159 | $66,570,957 |
Individually Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 886,858 | 1,065,551 |
Collectively Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 62,855,509 | 65,058,292 |
Purchased Impaired [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 330,792 | 447,114 |
Commercial, Financial, Leasing, etc. [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 18,705,216 | 17,776,953 |
Commercial, Financial, Leasing, etc. [Member] | Individually Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 118,386 | 159,761 |
Commercial, Financial, Leasing, etc. [Member] | Collectively Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 18,571,124 | 17,599,755 |
Commercial, Financial, Leasing, etc. [Member] | Purchased Impaired [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 15,706 | 17,437 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 26,148,208 | 25,993,790 |
Commercial Real Estate [Member] | Individually Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 376,339 | 480,335 |
Commercial Real Estate [Member] | Collectively Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 25,488,584 | 25,123,758 |
Commercial Real Estate [Member] | Purchased Impaired [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 283,285 | 389,697 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 8,928,221 | 11,240,837 |
Residential Real Estate [Member] | Individually Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 320,360 | 349,477 |
Residential Real Estate [Member] | Collectively Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 8,578,677 | 10,854,591 |
Residential Real Estate [Member] | Purchased Impaired [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 29,184 | 36,769 |
Consumer loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 10,291,514 | 11,559,377 |
Consumer loans [Member] | Individually Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 71,773 | 75,978 |
Consumer loans [Member] | Collectively Evaluated for Impairment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | 10,217,124 | 11,480,188 |
Consumer loans [Member] | Purchased Impaired [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases, net of unearned discount | $2,617 | $3,211 |
Premises_and_equipment_Summary
Premises and equipment - Summary of Premises and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Land | $84,220 | $84,545 |
Leasehold improvements | 208,947 | 198,498 |
Premises and equipment, Gross | 1,261,890 | 1,160,729 |
Less: accumulated depreciation and amortization | 628,370 | 566,077 |
Premises and equipment, net | 633,520 | 594,652 |
Owned assets [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Buildings | 402,065 | 393,527 |
Furniture and equipment | 547,824 | 465,113 |
Less: accumulated depreciation and amortization | 617,228 | 559,948 |
Capital leases [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Buildings | 1,131 | 1,131 |
Furniture and equipment | 17,703 | 17,915 |
Less: accumulated depreciation and amortization | $11,142 | $6,129 |
Premises_and_equipment_Additio
Premises and equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Net lease expense for all operating leases | $103,297,000 | $102,924,000 | $97,098,000 |
Capitalized_servicing_assets_C
Capitalized servicing assets - Changes in Capitalized Servicing Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Servicing Asset at Amortized Cost [Line Items] | ' | ' | ' |
Amortized value, Beginning balance | $172,976 | $198,192 | $160,876 |
Originations | 79,129 | 34,230 | 31,533 |
Purchases | 272 | 109 | 61,642 |
Recognized in loan securitization transactions | 23,078 | ' | ' |
Amortization | -65,354 | -59,555 | -55,859 |
Amortized value, ending balance | 210,101 | 172,976 | 198,192 |
Valuation allowance | -300 | -4,500 | -1,800 |
Ending balance, net | 209,801 | 168,476 | 196,392 |
Other [Member] | ' | ' | ' |
Servicing Asset at Amortized Cost [Line Items] | ' | ' | ' |
Amortized value, Beginning balance | 8,143 | 15,678 | 26,197 |
Recognized in loan securitization transactions | 9,382 | ' | ' |
Amortization | -6,300 | -7,535 | -10,519 |
Amortized value, ending balance | 11,225 | 8,143 | 15,678 |
Ending balance, net | 11,225 | 8,143 | 15,678 |
Residential Mortgage Loans [Member] | ' | ' | ' |
Servicing Asset at Amortized Cost [Line Items] | ' | ' | ' |
Amortized value, Beginning balance | 104,855 | 131,264 | 92,066 |
Originations | 52,375 | 14,577 | 13,920 |
Purchases | 272 | 109 | 61,642 |
Recognized in loan securitization transactions | 13,696 | ' | ' |
Amortization | -44,821 | -41,095 | -36,364 |
Amortized value, ending balance | 126,377 | 104,855 | 131,264 |
Valuation allowance | -300 | -4,500 | -1,800 |
Ending balance, net | 126,077 | 100,355 | 129,464 |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Servicing Asset at Amortized Cost [Line Items] | ' | ' | ' |
Amortized value, Beginning balance | 59,978 | 51,250 | 42,613 |
Originations | 26,754 | 19,653 | 17,613 |
Amortization | -14,233 | -10,925 | -8,976 |
Amortized value, ending balance | 72,499 | 59,978 | 51,250 |
Ending balance, net | $72,499 | $59,978 | $51,250 |
Capitalized_servicing_assets_A
Capitalized servicing assets - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Residential Mortgage Loans [Member] | Residential Mortgage Loans [Member] | Residential Mortgage Loans [Member] | Residential Mortgage Sub Servicing Loan [Member] | Residential Mortgage Sub Servicing Loan [Member] | Residential Mortgage Sub Servicing Loan [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | |||
Servicing Assets at Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage loans serviced for others | ' | ' | $69,100,000,000 | $32,100,000,000 | $36,300,000,000 | $46,600,000,000 | $12,500,000,000 | $14,300,000,000 | $4,400,000,000 | $3,800,000,000 | $4,400,000,000 | $11,400,000,000 | $10,600,000,000 | $9,000,000,000 |
Estimated fair value of capitalized mortgage loan servicing assets | ' | ' | 266,000,000 | 138,000,000 | ' | ' | ' | ' | ' | ' | ' | 85,000,000 | 71,000,000 | ' |
Weighted average discount rates used to estimate fair value of capitalized mortgaged loan servicing assets | ' | ' | 9.30% | 10.60% | ' | ' | ' | ' | ' | ' | ' | 18.00% | 18.00% | ' |
Weighted-average option-adjusted spread in the discount rate | ' | ' | '770 basis points | '929 basis points | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Residential mortgage loans securitized formerly held in Company's portfolio | ' | 1,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Automobile loans securitized and sold | $1,400,000,000 | $1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized_servicing_assets_E
Capitalized servicing assets - Economic Assumptions Used to Determine Fair Value of Capitalized Servicing Rights and Sensitivity of Value to Changes in Assumptions (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Residential Mortgage Loans [Member] | ' |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ' |
Weighted-average prepayment speeds | 11.39% |
Impact on fair value of 10% adverse change | ($11,283,000) |
Impact on fair value of 20% adverse change | -21,664,000 |
Weighted-average OAS | 7.70% |
Impact on fair value of 10% adverse change | -5,714,000 |
Impact on fair value of 20% adverse change | -11,155,000 |
Commercial Mortgage Loans [Member] | ' |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ' |
Weighted-average discount rate | 18.00% |
Impact on fair value of 10% adverse change | -3,677,000 |
Impact on fair value of 20% adverse change | ($7,096,000) |
Goodwill_and_other_intangible_2
Goodwill and other intangible assets - Total Amortizing Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $933,062 | $933,062 |
Accumulated Amortization | 864,211 | 817,299 |
Net Carrying Amount | 68,851 | 115,763 |
Core deposit [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 755,794 | 755,794 |
Accumulated Amortization | 705,518 | 670,940 |
Net Carrying Amount | 50,276 | 84,854 |
Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 177,268 | 177,268 |
Accumulated Amortization | 158,693 | 146,359 |
Net Carrying Amount | $18,575 | $30,909 |
Goodwill_and_other_intangible_3
Goodwill and other intangible assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Useful lives of core deposit and other intangible assets | '8 years | ' | ' |
Remaining weighted-average amortization period | '3 years | ' | ' |
Amortization of core deposit and other intangible assets | $46,912,000 | $60,631,000 | $61,617,000 |
Core deposit and other intangible assets [Member] | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Amortization of core deposit and other intangible assets | $46,912,000 | $60,631,000 | $61,617,000 |
Minimum [Member] | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Useful lives of core deposit and other intangible assets | '5 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' |
Useful lives of core deposit and other intangible assets | '10 years | ' | ' |
Recovered_Sheet2
Goodwill and Other Intangible Assets - Estimated Amortization Expense in Future Years (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $33,825 | ' |
2015 | 20,938 | ' |
2016 | 10,052 | ' |
2017 | 3,303 | ' |
2018 | 733 | ' |
Future Amortization Expense, Total | $68,851 | $115,763 |
Goodwill_and_other_intangible_4
Goodwill and other intangible assets - Summary of Goodwill Assigned to Reportable Segments for Purposes of Testing for Impairment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-11 |
In Thousands, unless otherwise specified | |||
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $3,524,625 | $3,524,625 | $0 |
Business Banking [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 748,907 | 748,907 | ' |
Commercial Banking [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 907,524 | 907,524 | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 349,197 | 349,197 | ' |
Discretionary Portfolio [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | ' | ' | ' |
Residential Mortgage Banking [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | ' | ' | ' |
Retail Banking [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 1,144,404 | 1,144,404 | ' |
All Other [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $374,593 | $374,593 | ' |
Borrowings_Amounts_and_Interes
Borrowings - Amounts and Interest Rates of Short-term Borrowings (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Federal funds purchased and short term borrowings | $260,455 | $1,074,482 | $782,082 |
Weighted-average interest rate | 0.04% | 0.11% | 0.09% |
Daily-average amount outstanding | 390,034 | 838,902 | 826,808 |
Weighted-average interest rate | 0.11% | 0.15% | 0.12% |
Federal Funds Purchased and Repurchase Agreements [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Federal Funds Purchased and Repurchase Agreements | 260,455 | 1,074,482 | 732,059 |
Weighted-average interest rate | 0.04% | 0.11% | 0.04% |
Highest amount at a month-end | 563,879 | 1,224,194 | 1,389,237 |
Daily-average amount outstanding | 390,034 | 822,859 | 706,749 |
Weighted-average interest rate | 0.11% | 0.15% | 0.11% |
Other Short-term Borrowings [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Other Short-term borrowings | ' | ' | 50,023 |
Weighted-average interest rate | ' | ' | 0.70% |
Highest amount at a month-end | ' | 50,016 | 142,927 |
Daily-average amount outstanding | ' | $16,043 | $120,059 |
Weighted-average interest rate | ' | 0.57% | 0.18% |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Minimum [Member] | Maximum [Member] | Subsequent Event [Member] | Libor Rate [Member] | FHLB Atlanta [Member] | FHLB Atlanta [Member] | FHLB Atlanta [Member] | M&T (Consolidated) [Member] | M&T Bank [Member] | Federal Reserve Bank of New York [Member] | Variable Rate Notes Due 2016 [Member] | 1.45% due 2018 [Member] | 1.45% due 2018 [Member] | 1.45% due 2018 [Member] | Long-term Variable Rate Advances From FHLB [Member] | Long-term Fixed Rate Advances From FHLB [Member] | Long-term Fixed Rate Advances From FHLB [Member] | Junior Subordinated Debenture Due January 31, 2068 [Member] | ||||
Schedule Of Borrowings [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal funds purchased and short-term repurchase agreements outstanding | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount of borrower using revolving credit agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing facilities available with FHLB's amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21-Nov-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured senior and subordinated notes that may be issued under Bank Note Program | ' | ' | 5,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2016 | '2018 | '2018 | '2018 | ' | ' | ' | ' |
Variable rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 500,000,000 | 502,479,000 | ' | ' | ' | ' | ' |
Interest rate of debt instrument | ' | ' | ' | ' | ' | 8.50% | 0.54% | ' | ' | ' | ' | ' | ' | ' | 1.45% | 1.45% | 1.45% | ' | ' | ' | ' |
Variable contractual interest rate of long-term debt lower limit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 3.48% | 3.48% | ' |
Variable contractual interest rate of long-term debt upper limit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 7.32% | 7.32% | ' |
Weighted-average contractual variable interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 4.60% | 4.64% | ' |
Advances from the FHLB maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2035 | ' | ' | ' |
Minimum contractual interest rates of long-term agreements to repurchase securities | 3.61% | 3.61% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum contractual interest rates of long-term agreements to repurchase securities | 4.30% | 4.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average contractual interest rates of long term agreements to repurchase securities | 3.90% | 3.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase dates of the long-term agreements outstanding | '2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collateralized Financings | 1,600,000,000 | 1,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust preferred capital securities | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum variable interest rate of Junior Subordinated Debentures | 1.09% | 1.16% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum variable interest rate of Junior Subordinated Debentures | 3.59% | 3.69% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average variable rates payable on Junior Subordinated Debentures | ' | ' | ' | 1.67% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Junior subordinated debentures | ' | ' | ' | ' | ' | $350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $350,000,000 |
Junior Subordinated Debentures Maturity Date | 31-Jan-68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Maturity, Start Year | 1-Jan-27 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Maturity, End Year | 31-Dec-68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings_Lines_of_Credit_Und
Borrowings - Lines of Credit Under Formal Agreements (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
M&T (Consolidated) [Member] | ' |
Schedule Of Borrowings [Line Items] | ' |
Outstanding borrowings | ' |
Unused | 30,000 |
M&T Bank [Member] | ' |
Schedule Of Borrowings [Line Items] | ' |
Outstanding borrowings | 28,868 |
Unused | 19,838,117 |
Wilmington Trust, N.A. [Member] | ' |
Schedule Of Borrowings [Line Items] | ' |
Outstanding borrowings | ' |
Unused | $300,710 |
Borrowings_Longterm_Borrowings
Borrowings - Long-term Borrowings (Detail) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Fixed rates | $29,079 | ' | $30,066 |
Agreements to repurchase securities | 1,400,000 | ' | 1,400,000 |
Other | 30,257 | ' | 40,792 |
Long-term borrowings | 5,108,870 | ' | 4,607,758 |
Variable Rate Notes Due 2016 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Variable rates | 300,000 | ' | ' |
1.45% due 2018 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Variable rates | 502,479 | 500,000 | ' |
4.875% due 2013 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated notes | 0 | ' | 251,298 |
8.5% due 2018 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated notes | 224,067 | ' | 230,255 |
6.625% due 2017 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated notes | 437,582 | ' | 455,439 |
9.5% due 2018 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated notes | 50,000 | ' | 50,000 |
5.585% due 2020, variable rate commencing 2015 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated notes | 392,964 | ' | 385,669 |
5.629% due 2021, variable rate commencing 2016 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated notes | 559,378 | ' | 583,097 |
M&T Capital Trust I - 8.234%, due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 154,640 | ' | 154,640 |
M&T Capital Trust II - 8.277%, due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 103,093 | ' | 103,093 |
M&T Capital Trust III - 9.25%, due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 66,109 | ' | 66,434 |
BSB Capital Trust I - 8.125%, due 2028 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 15,589 | ' | 15,566 |
Provident Trust I - 8.29%, due 2028 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 25,051 | ' | 24,746 |
Southern Financial Statutory Trust I - 10.60%, due 2030 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 6,521 | ' | 6,496 |
M&T Capital Trust IV - 8.50%, due 2068 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 350,010 | ' | 350,010 |
First Maryland Capital I - due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 144,641 | ' | 144,102 |
First Maryland Capital II - due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 145,964 | ' | 145,301 |
Allfirst Asset Trust - due 2029 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 96,059 | ' | 95,913 |
BSB Capital Trust III - due 2033 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 15,464 | ' | 15,464 |
Provident Trust III - due 2033 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | 52,176 | ' | 51,694 |
Southern Financial Capital Trust III - due 2033 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Junior subordinated debentures associated with preferred capital securities | $7,747 | ' | $7,683 |
Borrowings_Longterm_Borrowings1
Borrowings - Long-term Borrowings (Parenthetical) (Detail) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt Maturity, Start Date | ' | 1-Jan-27 | ' |
Debt Maturity, End Date | ' | 31-Dec-68 | ' |
Variable rate due 2016 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt maturity date | ' | '2016 | '2016 |
1.45% due 2018 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | 1.45% | 1.45% | 1.45% |
Debt maturity date | '2018 | '2018 | '2018 |
4.875% due 2013 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 4.88% | 4.88% |
Debt maturity date | ' | '2013 | '2013 |
8.5% due 2018 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 8.50% | 8.50% |
Debt maturity date | ' | '2018 | '2018 |
6.625% due 2017 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 6.63% | 6.63% |
Debt maturity date | ' | '2017 | '2017 |
9.5% due 2018 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 9.50% | 9.50% |
Debt maturity date | ' | '2018 | '2018 |
5.585% due 2020, variable rate commencing 2015 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 5.59% | 5.59% |
Debt Maturity, Start Date | ' | 1-Jan-15 | 1-Jan-15 |
Debt Maturity, End Date | ' | 31-Dec-20 | 31-Dec-20 |
5.629% due 2021, variable rate commencing 2016 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 5.63% | 5.63% |
Debt Maturity, Start Date | ' | 1-Jan-16 | 1-Jan-16 |
Debt Maturity, End Date | ' | 31-Dec-21 | 31-Dec-21 |
M&T Capital Trust I - 8.234%, due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 8.23% | 8.23% |
Debt maturity date | ' | '2027 | '2027 |
M&T Capital Trust II - 8.277%, due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 8.28% | 8.28% |
Debt maturity date | ' | '2027 | '2027 |
M&T Capital Trust III - 9.25%, due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 9.25% | 9.25% |
Debt maturity date | ' | '2027 | '2027 |
BSB Capital Trust I - 8.125%, due 2028 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 8.13% | 8.13% |
Debt maturity date | ' | '2028 | '2028 |
Provident Trust I - 8.29%, due 2028 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 8.29% | 8.29% |
Debt maturity date | ' | '2028 | '2028 |
Southern Financial Statutory Trust I - 10.60%, due 2030 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 10.60% | 10.60% |
Debt maturity date | ' | '2030 | '2030 |
M&T Capital Trust IV - 8.50%, due 2068 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Interest rate of debt instrument | ' | 8.50% | 8.50% |
Debt maturity date | ' | '2068 | '2068 |
First Maryland Capital I - due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt maturity date | ' | '2027 | '2027 |
First Maryland Capital II - due 2027 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt maturity date | ' | '2027 | '2027 |
Allfirst Asset Trust - due 2029 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt maturity date | ' | '2029 | '2029 |
BSB Capital Trust III - due 2033 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt maturity date | ' | '2033 | '2033 |
Provident Trust III - due 2033 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt maturity date | ' | '2033 | '2033 |
Southern Financial Capital Trust III - due 2033 [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Debt maturity date | ' | '2033 | '2033 |
Borrowings_Maturity_of_Longter
Borrowings - Maturity of Long-term Borrowings (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $22,021 | ' |
2015 | 5,756 | ' |
2016 | 1,105,075 | ' |
2017 | 1,041,871 | ' |
2018 | 777,991 | ' |
Later years | 2,156,156 | ' |
Long-term borrowings | $5,108,870 | $4,607,758 |
Shareholders_equity_Additional
Shareholders' equity - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Class of Stock [Line Items] | ' | ' |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, par value | $1 | $1 |
Exercise price of each class of warrants or rights outstanding | ' | 26.5 |
Ten Year Warrant Series D Preferred [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Exercise price of each class of warrants or rights outstanding | 518.96 | 518.96 |
Ten-year warrant to purchase common stock | 95,383 | 95,383 |
Warrant issue date | '2008-12 | ' |
Shareholders_equity_Issued_and
Shareholders' equity - Issued and Outstanding Preferred Stock (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Class of Stock [Line Items] | ' | ' |
Carrying value | $881,500 | $872,500 |
Series A Fixed Rate Cumulative Perpetual Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred stock, shares issued and outstanding | 230,000 | 230,000 |
Carrying value | 230,000 | 226,965 |
Series C Fixed Rate Cumulative Perpetual Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred stock, shares issued and outstanding | 151,500 | 151,500 |
Carrying value | 151,500 | 145,535 |
Series D Fixed Rate Non-Cumulative Perpetual Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred stock, shares issued and outstanding | 50,000 | 50,000 |
Carrying value | $500,000 | $500,000 |
Shareholders_equity_Issued_and1
Shareholders' equity - Issued and Outstanding Preferred Stock (Parenthetical) (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||
Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Series A Fixed Rate Cumulative Perpetual Preferred Stock [Member] | Series A Fixed Rate Cumulative Perpetual Preferred Stock [Member] | Series C Fixed Rate Cumulative Perpetual Preferred Stock [Member] | Series C Fixed Rate Cumulative Perpetual Preferred Stock [Member] | Series D Fixed Rate Non-Cumulative Perpetual Preferred Stock [Member] | Series D Fixed Rate Non-Cumulative Perpetual Preferred Stock [Member] | Ten Year Warrant Series A Preferred [Member] | Series A [Member] | Series A [Member] | Ten Year Warrant Series C Preferred [Member] | Series C [Member] | Series C [Member] | Preferred series A and C First Five Years [Member] | Preferred series A and C After Five Years [Member] | Series C warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series D [Member] | ||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liquidation preference | ' | ' | ' | $1,000 | $1,000 | $1,000 | $1,000 | $10,000 | $10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ten-year warrant to purchase common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,218,522 | ' | ' | 407,542 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of each class of warrants or rights outstanding | ' | ' | 26.5 | ' | ' | ' | ' | ' | ' | ' | ' | 73.86 | ' | ' | 55.76 | ' | ' | ' | ' | ' | ' |
Preferred stock dividend rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 6.38% | ' | ' | ' | 6.88% |
Date of change in the dividend rate | 14-Nov-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred shares redemption date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Nov-18 | ' | ' | 15-Nov-18 | ' | ' | ' | ' | ' | ' | 15-Jun-16 |
Issuance of common shares | ' | 130,516,364 | 128,176,912 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 186,589 | ' | ' | ' |
Cashless warrants exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,127 | ' | ' |
Common stock shares, Issued as a result of warrants exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,427 | ' | ' |
Warrants and rights outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,149,395 | ' |
Redemption days of shares by Company | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockbased_compensation_plans_1
Stock-based compensation plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | $55,000,000 | $57,000,000 | $56,000,000 |
Recognized income tax benefits related to stock-based compensation | 29,000,000 | 30,000,000 | 22,000,000 |
Shares under equity incentive compensation plan for future grant | 4,874,542 | 5,307,228 | ' |
Directors stock plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares issuable under deferred compensation plans | 14,185 | 18,816 | ' |
Shares issued in connection with deferred compensation plans | 197,905 | ' | ' |
Stock Option Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '4 years | ' | ' |
Stock options exercisable period, maximum | '10 years 1 day | ' | ' |
Cash realized from exercise of stock options | 172,000,000 | 153,000,000 | 28,000,000 |
Tax benefits realized from exercise of stock options | 12,000,000 | 8,000,000 | 3,000,000 |
Intrinsic value of stock options exercised | 34,000,000 | 21,000,000 | 7,000,000 |
Total grant date fair value of stock options vested | 0 | 17,000,000 | 29,000,000 |
Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '4 years | ' | ' |
Unrecognized compensation cost expected to be recognized over a weighted-average period (in years) | '1 year 6 months | ' | ' |
Unrecognized compensation cost related to non-vested awards | 27,000,000 | ' | ' |
Shares issued | 269,755 | 453,908 | 451,248 |
Weighted-average grant date fair value | 27,716,000 | 36,969,000 | 38,369,000 |
Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unrecognized compensation cost expected to be recognized over a weighted-average period (in years) | '1 year 4 months 24 days | ' | ' |
Unrecognized compensation cost related to non-vested awards | 9,000,000 | ' | ' |
Shares issued | 315,316 | 278,505 | 242,282 |
Weighted-average grant date fair value | 32,380,000 | 22,139,000 | 20,921,000 |
Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares issued | 0 | 151,014 | 0 |
Common stock authorized for issuance | 2,500,000 | ' | ' |
Common stock issued through employee stock purchase plan | 0 | ' | ' |
Cash received from exercise of stock options | $0 | $10,117,000 | ' |
Deferred bonus plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares issuable under deferred compensation plans | 33,046 | 38,593 | ' |
Shares issued in connection with deferred compensation plans | 139,429 | ' | ' |
Stockbased_compensation_plans_2
Stock-based compensation plans - Summary of Restricted Stock and Restricted Stock Unit Activity (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted Stock Outstanding, Unvested, Beginning balance | 799,495 |
Restricted Stock Outstanding, Granted | 315,316 |
Restricted Stock Outstanding, Vested | -341,348 |
Restricted Stock Outstanding, Cancelled | -2,633 |
Restricted Stock Outstanding, Unvested, Ending balance | 770,830 |
Weighted-Average Grant Price, Unvested, Beginning balance | $70.28 |
Weighted-Average Grant Price, Granted | $102.69 |
Weighted-Average Grant Price, Vested | $56.43 |
Weighted-Average Grant Price, Cancelled | $96.90 |
Weighted-Average Grant Price, Unvested, Ending balance | $89.58 |
Restricted Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted Stock Outstanding, Unvested, Beginning balance | 1,095,631 |
Restricted Stock Outstanding, Granted | 269,755 |
Restricted Stock Outstanding, Vested | -446,882 |
Restricted Stock Outstanding, Cancelled | -55,809 |
Restricted Stock Outstanding, Unvested, Ending balance | 862,695 |
Weighted-Average Grant Price, Unvested, Beginning balance | $71.01 |
Weighted-Average Grant Price, Granted | $102.75 |
Weighted-Average Grant Price, Vested | $56.74 |
Weighted-Average Grant Price, Cancelled | $87.05 |
Weighted-Average Grant Price, Unvested, Ending balance | $87.29 |
Stockbased_compensation_plans_3
Stock-based compensation plans - Summary of Stock Option Activity (Detail) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Stock Options Outstanding, Beginning balance | 7,033,359 |
Stock Options Outstanding, Granted | 100 |
Stock Options Outstanding, Exercised | -1,998,841 |
Stock Options Outstanding, Expired | -153,857 |
Stock Options Outstanding, Ending balance | 4,880,761 |
Stock Options Outstanding, Exercisable | 4,879,148 |
Weighted-Average Exercise Price, Outstanding, Beginning balance | $103.30 |
Weighted-Average Exercise Price, Granted | $102.69 |
Weighted-Average Exercise Price, Exercised | $95.27 |
Weighted-Average Exercise Price, Expired | $138.46 |
Weighted-Average Exercise Price, Outstanding, Ending balance | $105.48 |
Weighted-Average Exercise Price, Exercisable | $105.49 |
Weighted-Average Life (In Years), Outstanding, Ending balance | '2 years 9 months 18 days |
Weighted-Average Life (In Years), Exercisable | '2 years 9 months 18 days |
Aggregate Intrinsic Value, Outstanding, Ending balance | $66,464 |
Aggregate Intrinsic Value, Exercisable | $66,400 |
Recovered_Sheet3
Pension Plans and Other Postretirement Benefits - Net Periodic Benefit Cost for Defined Benefit Plans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $24,360 | $29,549 | $28,828 |
Interest cost on benefit obligation | 60,130 | 62,037 | 58,545 |
Expected return on plan assets | -87,353 | -70,511 | -60,700 |
Amortization of prior service cost (credit) | -6,556 | -6,559 | -6,559 |
Recognized net actuarial loss | 41,076 | 37,386 | 20,530 |
Net periodic benefit costs | 31,657 | 51,902 | 40,644 |
Other Postretirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 742 | 668 | 535 |
Interest cost on benefit obligation | 2,691 | 3,737 | 3,761 |
Amortization of prior service cost (credit) | -1,359 | 21 | 107 |
Recognized net actuarial loss | 360 | 530 | 36 |
Net periodic benefit costs | $2,434 | $4,956 | $4,439 |
Pension_plans_and_other_postre2
Pension plans and other postretirement benefits - Data Relating to Funding Position of Defined Benefit Plans (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets at end of year | $1,504,691,000 | $1,404,138,000 | ' |
Pension Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | 1,644,567,000 | 1,496,490,000 | ' |
Service cost | 24,360,000 | 29,549,000 | 28,828,000 |
Interest cost | 60,130,000 | 62,037,000 | 58,545,000 |
Plan participants' contributions | ' | ' | ' |
Amendments | ' | ' | ' |
Actuarial (gain) loss | -184,181,000 | 116,237,000 | ' |
Settlements/curtailments | ' | -320,000 | ' |
Medicare Part D reimbursement | ' | ' | ' |
Benefits paid | -60,683,000 | -59,426,000 | ' |
Benefit obligation at end of year | 1,484,193,000 | 1,644,567,000 | 1,496,490,000 |
Fair value of plan assets at beginning of year | 1,408,771,000 | 1,117,972,000 | ' |
Actual return on plan assets | 150,795,000 | 143,430,000 | ' |
Employer contributions | 7,801,000 | 207,115,000 | ' |
Plan participants' contributions | ' | ' | ' |
Medicare Part D reimbursement | ' | ' | ' |
Settlements | ' | -320,000 | ' |
Benefits and other payments | -60,683,000 | -59,426,000 | ' |
Fair value of plan assets at end of year | 1,506,684,000 | 1,408,771,000 | 1,117,972,000 |
Funded status | 22,491,000 | -235,796,000 | ' |
Net prepaid asset | 139,576,000 | ' | ' |
Accrued liabilities | -117,085,000 | -235,796,000 | ' |
Net loss (gain) | 191,386,000 | 480,084,000 | ' |
Net prior service cost | -16,899,000 | -23,455,000 | ' |
Pre-tax adjustment to AOCI | 174,487,000 | 456,629,000 | ' |
Taxes | -68,486,000 | -179,227,000 | ' |
Net adjustment to AOCI | 106,001,000 | 277,402,000 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | 74,966,000 | 90,104,000 | ' |
Service cost | 742,000 | 668,000 | 535,000 |
Interest cost | 2,691,000 | 3,737,000 | 3,761,000 |
Plan participants' contributions | 3,069,000 | 3,765,000 | ' |
Amendments | ' | -13,313,000 | ' |
Actuarial (gain) loss | -12,830,000 | -182,000 | ' |
Settlements/curtailments | ' | ' | ' |
Medicare Part D reimbursement | 509,000 | 918,000 | ' |
Benefits paid | -8,555,000 | -10,731,000 | ' |
Benefit obligation at end of year | 60,592,000 | 74,966,000 | 90,104,000 |
Fair value of plan assets at beginning of year | ' | ' | ' |
Actual return on plan assets | ' | ' | ' |
Employer contributions | 4,977,000 | 6,048,000 | ' |
Plan participants' contributions | 3,069,000 | 3,765,000 | ' |
Medicare Part D reimbursement | 509,000 | 918,000 | ' |
Settlements | ' | ' | ' |
Benefits and other payments | -8,555,000 | -10,731,000 | ' |
Fair value of plan assets at end of year | ' | ' | ' |
Funded status | -60,592,000 | -74,966,000 | ' |
Net prepaid asset | ' | ' | ' |
Accrued liabilities | -60,592,000 | -74,966,000 | ' |
Net loss (gain) | -1,056,000 | 12,134,000 | ' |
Net prior service cost | -11,814,000 | -13,173,000 | ' |
Pre-tax adjustment to AOCI | -12,870,000 | -1,039,000 | ' |
Taxes | 5,051,000 | 408,000 | ' |
Net adjustment to AOCI | ($7,819,000) | ($631,000) | ' |
Pension_plans_and_other_postre3
Pension plans and other postretirement benefits - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Minimum pension liability | $161,617,000 | ' | ' |
Minimum pension liability adjustment net of tax | 98,182,000 | ' | ' |
Discount rate of benefit plan | 4.75% | 3.75% | ' |
Decrease in minimum liability adjustment | ' | 293,973,000 | ' |
Increase in minimum pension liability adjustment net of tax | ' | 178,589,000 | ' |
Defined contribution pension and retirement savings plans total expense | 21,000,000 | 17,000,000 | 13,000,000 |
Annual rate of increase in health care cost assumed for next fiscal year | 7.50% | ' | ' |
Defined Benefit Plan, ultimate health care cost trend rate | 5.00% | ' | ' |
Period for decreasing the annual rate | 'Over 30 years | ' | ' |
Defined benefit pension plans | 168,040,000 | ' | ' |
Percentage of total assets | 11.20% | ' | ' |
Defined benefit plan fair value of plan assets | 1,504,691,000 | 1,404,138,000 | ' |
Percentage of pension plan assets that is not exceeded by investment in security of single Non-US Government of Government agency | 10.00% | ' | ' |
Qualified benefit pension plans | 0 | 200,000,000 | 70,000,000 |
Percentage of eligible employees contribution for Retirement Savings Plan | 50.00% | ' | ' |
Percentage of employer matching contribution to employee's contribution | 75.00% | ' | ' |
Maximum employer contribution on Employee's qualified contribution | 4.50% | ' | ' |
Qualified defined contribution plans expense during the period | 31,797,000 | 31,305,000 | 27,738,000 |
Total Equity Securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Target allocations for plan assets, minimum range | 45.00% | ' | ' |
Target allocations for plan assets, maximum range | 80.00% | ' | ' |
Defined benefit plan fair value of plan assets | 1,045,995,000 | 674,503,000 | ' |
Total Debt securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Target allocations for plan assets, minimum range | 5.00% | ' | ' |
Target allocations for plan assets, maximum range | 40.00% | ' | ' |
Defined benefit plan fair value of plan assets | 252,704,000 | 621,104,000 | ' |
Other Securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Target allocations for plan assets, minimum range | 3.00% | ' | ' |
Target allocations for plan assets, maximum range | 30.00% | ' | ' |
Defined benefit plan fair value of plan assets | 168,040,000 | 61,874,000 | ' |
M&T Equity securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 142,955,000 | 120,914,000 | ' |
Percentage of common stock in total plan assets | 9.50% | 8.60% | ' |
Supplemental pension plan [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Projected benefit obligation | 117,085,000 | ' | ' |
Accumulated benefit obligation | ' | 130,745,000 | ' |
Employer contributions | 7,801,000 | 7,115,000 | ' |
Pension Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Projected benefit obligation | 1,484,193,000 | 1,644,567,000 | 1,496,490,000 |
Accumulated benefit obligation | 1,460,498,000 | 1,618,119,000 | ' |
Minimum pension liability | 174,487,000 | ' | ' |
Discount rate of benefit plan | 3.75% | 4.25% | 5.25% |
Defined benefit plan fair value of plan assets | 1,506,684,000 | 1,408,771,000 | 1,117,972,000 |
Employer contributions | 7,801,000 | 207,115,000 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Projected benefit obligation | 60,592,000 | 74,966,000 | 90,104,000 |
Minimum pension liability | -12,870,000 | ' | ' |
Discount rate of benefit plan | 3.75% | 4.25% | 5.25% |
Defined benefit plan fair value of plan assets | ' | ' | ' |
Employer contributions | $4,977,000 | $6,048,000 | ' |
Pension_plans_and_other_postre4
Pension plans and other postretirement benefits - Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Net loss (gain) | ($260,452) | $43,136 | ' |
Prior service credit | ' | -13,313 | ' |
Amortization of prior service (cost) credit | 7,915 | 6,538 | 6,452 |
Amortization of loss | -41,436 | -37,916 | -20,566 |
Total recognized in other comprehensive income, pre-tax | -293,973 | -1,555 | ' |
Pension Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Net loss (gain) | -247,622 | 43,318 | ' |
Amortization of prior service (cost) credit | 6,556 | 6,559 | ' |
Amortization of loss | -41,076 | -37,386 | ' |
Total recognized in other comprehensive income, pre-tax | -282,142 | 12,491 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Net loss (gain) | -12,830 | -182 | ' |
Prior service credit | ' | -13,313 | ' |
Amortization of prior service (cost) credit | 1,359 | -21 | ' |
Amortization of loss | -360 | -530 | ' |
Total recognized in other comprehensive income, pre-tax | ($11,831) | ($14,046) | ' |
Pension_plans_and_other_postre5
Pension plans and other postretirement benefits - Amortization of Amounts in Accumulated Other Comprehensive Income Expected to be Recognized as Components of Net Periodic Benefit Expense (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Pension Benefits [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
Amortization of net prior service credit | ($6,552) |
Amortization of net loss | 13,460 |
Other Postretirement Benefits [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
Amortization of net prior service credit | ($1,359) |
Pension_plans_and_other_postre6
Pension plans and other postretirement benefits - Assumed Weighted-Average Rates Used to Determine Benefit Obligations (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Benefits [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Discount rate | 4.75% | 3.75% |
Rate of increase in future compensation levels | 4.42% | 4.50% |
Other Postretirement Benefits [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Discount rate | 4.75% | 3.75% |
Rate of increase in future compensation levels | ' | ' |
Pension_plans_and_other_postre7
Pension plans and other postretirement benefits - Assumed Weighted-Average Rates Used to Determine Net Benefit Expense (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Discount rate | 4.75% | 3.75% | ' |
Pension Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Discount rate | 3.75% | 4.25% | 5.25% |
Long-term rate of return on plan assets | 6.50% | 6.50% | 6.50% |
Rate of increase in future compensation levels | 4.50% | 4.50% | 4.50% |
Other Postretirement Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Discount rate | 3.75% | 4.25% | 5.25% |
Pension_plans_and_other_postre8
Pension plans and other postretirement benefits - Effects on One-Percentage Point Change in Assumed Health Care Cost Trend Rates (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Compensation And Retirement Disclosure [Abstract] | ' |
Service and interest cost | $100 |
Accumulated postretirement benefit obligation | 2,147 |
Service and interest cost | -91 |
Accumulated postretirement benefit obligation | ($1,947) |
Pension_plans_and_other_postre9
Pension plans and other postretirement benefits - Fair Values of Company's Pension Plan Assets by Asset Category (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | $1,504,691 | $1,404,138 |
Money-market funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 37,952 | 46,657 |
M&T Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 142,955 | 120,914 |
Domestic Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 271,203 | 147,382 |
International Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 24,053 | 8,561 |
Domestic Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 194,099 | 188,950 |
International Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 413,685 | 208,696 |
Total Equity Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 1,045,995 | 674,503 |
Corporate Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 63,196 | 307,712 |
Government Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 75,043 | 141,224 |
International Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 2,443 | 10,230 |
Domestic Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 68,280 | 107,576 |
International Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 43,742 | 54,362 |
Total Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 252,704 | 621,104 |
Other Diversified mutual fund [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 93,055 | 10,415 |
Other Private real estate [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 3,123 | 4,603 |
Other Private equity [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 6,199 | 5,347 |
Other Hedge funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 65,663 | 41,509 |
Other Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 168,040 | 61,874 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 1,330,513 | 903,513 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Money-market funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 37,952 | 46,657 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | M&T Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 142,955 | 120,914 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Domestic Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 271,203 | 147,382 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | International Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 24,053 | 8,561 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Domestic Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 194,099 | 188,950 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | International Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 413,685 | 208,696 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Total Equity Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 1,045,995 | 674,503 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Government Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | International Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Domestic Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 68,280 | 107,576 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | International Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 43,742 | 54,362 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Total Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 112,022 | 161,938 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Diversified mutual fund [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 93,055 | 10,415 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Private real estate [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Private equity [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Hedge funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 41,489 | 10,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 134,544 | 20,415 |
Significant Observable Inputs (Level 2) [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 140,682 | 459,166 |
Significant Observable Inputs (Level 2) [Member] | Money-market funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | M&T Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Domestic Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | International Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Domestic Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | International Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Total Equity Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Corporate Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 63,196 | 307,712 |
Significant Observable Inputs (Level 2) [Member] | Government Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 75,043 | 141,224 |
Significant Observable Inputs (Level 2) [Member] | International Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 2,443 | 10,230 |
Significant Observable Inputs (Level 2) [Member] | Domestic Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | International Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Total Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 140,682 | 459,166 |
Significant Observable Inputs (Level 2) [Member] | Other Diversified mutual fund [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Other Private real estate [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Other Private equity [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Other Hedge funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Other Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 33,496 | 41,459 |
Significant Unobservable Inputs (Level 3) [Member] | Money-market funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | M&T Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Domestic Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | International Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Domestic Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | International Mutual Fund Equity securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Total Equity Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Government Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | International Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Domestic Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | International Mutual Fund Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Total Debt securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Other Diversified mutual fund [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Other Private real estate [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 3,123 | 4,603 |
Significant Unobservable Inputs (Level 3) [Member] | Other Private equity [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 6,199 | 5,347 |
Significant Unobservable Inputs (Level 3) [Member] | Other Hedge funds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | 24,174 | 31,509 |
Significant Unobservable Inputs (Level 3) [Member] | Other Securities [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Defined benefit plan fair value of plan assets | $33,496 | $41,459 |
Recovered_Sheet4
Pension plans and other postretirement benefits - Fair Values of Company's Pension Plan Assets by Asset Category (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Interest and dividend receivable on plan assets | $1,993,000 | $4,633,000 |
Investment grade bonds of U.S. issuers [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Investment in mutual funds | 35.00% | 40.00% |
High-yielding bonds [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Investment in mutual funds | 65.00% | 60.00% |
Recovered_Sheet5
Pension plans and other postretirement benefits - Changes in Level 3 Pension Plan Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Other Private real estate [Member] | Other Private real estate [Member] | Other Private equity [Member] | Other Private equity [Member] | Other Hedge funds [Member] | Other Hedge funds [Member] | Other Securities [Member] | Other Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Other Private real estate [Member] | Other Private equity [Member] | Other Hedge funds [Member] | Other Securities [Member] | |||||||||||||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets at beginning of year | $1,504,691 | $1,404,138 | $3,123 | $4,603 | $6,199 | $5,347 | $65,663 | $41,509 | $168,040 | $61,874 | $33,496 | $41,459 | $4,603 | $5,347 | $31,509 | $41,459 |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -308 | 165 | -9,873 | -10,016 |
Total Realized/Unrealized Gains (Losses) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,172 | 687 | 2,538 | 2,053 |
Fair value of plan assets at end of year | $1,504,691 | $1,404,138 | $3,123 | $4,603 | $6,199 | $5,347 | $65,663 | $41,509 | $168,040 | $61,874 | $33,496 | $41,459 | $3,123 | $6,199 | $24,174 | $33,496 |
Recovered_Sheet6
Pension plans and other postretirement benefits - Defined Benefit Plan Estimated Future Benefit Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Pension Benefits [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | $65,970 |
2015 | 67,993 |
2016 | 73,628 |
2017 | 77,180 |
2018 | 80,380 |
2019 through 2023 | 461,397 |
Other Postretirement Benefits [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | 6,780 |
2015 | 6,503 |
2016 | 6,283 |
2017 | 5,995 |
2018 | 5,741 |
2019 through 2023 | $25,172 |
Income_taxes_Components_of_Inc
Income taxes - Components of Income Tax Expense (Benefit) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current | ' | ' | ' |
Federal | $371,249 | $309,156 | $277,631 |
State and city | 68,035 | 82,014 | 53,566 |
Total current | 439,284 | 391,170 | 331,197 |
Deferred | ' | ' | ' |
Federal | 106,537 | 117,229 | 34,325 |
State and city | 33,248 | 14,629 | -401 |
Total deferred | 139,785 | 131,858 | 33,924 |
Income taxes | $579,069 | $523,028 | $365,121 |
Income_taxes_Additional_Inform
Income taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
State | |||
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax bad debt reserve | $79,121,000 | ' | ' |
Income taxes attributable to gains or losses on bank investment securities | 18,313,000 | -18,766,000 | 28,712,000 |
Minimum alternative tax expense recognized for gains or losses on bank investment securities | $0 | $0 | $0 |
Number of state and local jurisdictions where company files income tax returns | 40 | ' | ' |
Income_taxes_Schedule_of_Incom
Income taxes - Schedule of Income Taxes Expenses Benefit Reconciliation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income taxes at statutory federal income tax rate | $601,142 | $543,384 | $428,610 |
Increase (decrease) in taxes: | ' | ' | ' |
Tax-exempt income | -34,747 | -33,890 | -33,799 |
State and city income taxes, net of federal income tax effect | 65,834 | 62,818 | 34,557 |
Low income housing and other credits | -49,206 | -42,074 | -40,763 |
Non-taxable gain on acquisition | ' | ' | -22,725 |
Other | -3,954 | -7,210 | -759 |
Income taxes | $579,069 | $523,028 | $365,121 |
Income_taxes_Deferred_Tax_Asse
Income taxes - Deferred Tax Assets (Liabilities) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Income Tax Disclosure [Abstract] | ' | ' | ' |
Losses on loans and other assets | $645,713 | $809,033 | $896,219 |
Postretirement and other employee benefits | 30,023 | 34,517 | 39,992 |
Incentive compensation plans | 37,772 | 50,067 | 49,183 |
Interest on loans | 100,725 | 72,278 | 46,965 |
Retirement benefits | ' | 91,980 | 147,997 |
Stock-based compensation | 63,101 | 69,874 | 78,014 |
Unrealized investment losses | ' | ' | 50,528 |
Depreciation and amortization | 1,404 | 12,130 | 9,563 |
Other | 121,561 | 103,027 | 99,012 |
Gross deferred tax assets | 1,000,299 | 1,242,906 | 1,417,473 |
Leasing transactions | -284,370 | -291,524 | -294,150 |
Unrealized investment gains | -21,779 | -23,574 | ' |
Capitalized servicing rights | -46,041 | -20,348 | -17,603 |
Interest on subordinated note exchange | -6,075 | -8,794 | -11,275 |
Retirement benefits | -9,397 | ' | ' |
Other | -49,450 | -61,410 | -48,803 |
Gross deferred tax liabilities | -417,112 | -405,650 | -371,831 |
Net deferred tax asset | $583,187 | $837,256 | $1,045,642 |
Income_taxes_Reconciliation_of
Income taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Federal, State and Local Tax [Member] | ' | ' | ' |
Reconciliation Of Unrecognized Tax Benefits [Line Items] | ' | ' | ' |
Beginning Balance | $16,548 | $18,333 | $24,853 |
Increases in unrecognized tax benefits as a result of tax positions taken during the period | 2,267 | 860 | 4,659 |
Increases in unrecognized tax benefits as a result of tax positions taken in prior years | ' | ' | ' |
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | -1,854 | -1,002 | -9,742 |
Decreases in unrecognized tax benefits as a result of tax positions taken in prior years | ' | ' | ' |
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | -2,350 | -1,643 | -8,471 |
Unrecognized tax benefits acquired in a business combination | ' | ' | 7,034 |
Ending Balance | 14,611 | 16,548 | 18,333 |
Accrued Interest [Member] | ' | ' | ' |
Reconciliation Of Unrecognized Tax Benefits [Line Items] | ' | ' | ' |
Beginning Balance | 12,379 | 9,277 | 20,696 |
Increases in unrecognized tax benefits as a result of tax positions taken during the period | ' | ' | ' |
Increases in unrecognized tax benefits as a result of tax positions taken in prior years | 4,429 | 4,514 | ' |
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | -487 | ' | -5,497 |
Decreases in unrecognized tax benefits as a result of tax positions taken in prior years | ' | ' | -1,645 |
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | -1,625 | -1,412 | -8,201 |
Unrecognized tax benefits acquired in a business combination | ' | ' | 3,924 |
Ending Balance | 14,696 | 12,379 | 9,277 |
Unrecognized Income Tax Benefits [Member] | ' | ' | ' |
Reconciliation Of Unrecognized Tax Benefits [Line Items] | ' | ' | ' |
Beginning Balance | 28,927 | 27,610 | 45,549 |
Increases in unrecognized tax benefits as a result of tax positions taken during the period | 2,267 | 860 | 4,659 |
Increases in unrecognized tax benefits as a result of tax positions taken in prior years | 4,429 | 4,514 | ' |
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities | -2,341 | -1,002 | -15,239 |
Decreases in unrecognized tax benefits as a result of tax positions taken in prior years | ' | ' | -1,645 |
Decreases in unrecognized tax benefits because applicable returns are no longer subject to examination | -3,975 | -3,055 | -16,672 |
Unrecognized tax benefits acquired in a business combination | ' | ' | 10,958 |
Ending Balance | 29,307 | 28,927 | 27,610 |
Less: Federal, state and local income tax benefits | -9,611 | ' | ' |
Net unrecognized tax benefits if recognized, would impact the effective income tax rate | $19,696 | ' | ' |
Earnings_Per_Common_Share_Comp
Earnings Per Common Share - Computations of Basic Earnings Per Common Share (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income available to common shareholders: | ' | ' | ' |
Net income | $1,138,480 | $1,029,498 | $859,479 |
Less: Preferred stock dividends | -54,120 | -53,450 | -45,839 |
Amortization of preferred stock discount | -7,942 | -8,026 | -20,018 |
Net income available to common equity | 1,076,418 | 968,022 | 793,622 |
Less: Income attributable to unvested stock-based compensation awards | -13,989 | -14,632 | -11,879 |
Net income available to common shareholders | $1,062,429 | $953,390 | $781,743 |
Weighted-average shares outstanding: | ' | ' | ' |
Common and unvested stock-based compensation awards | 130,354 | 127,793 | 124,524 |
Less: Unvested stock-based compensation awards | -1,700 | -1,929 | -1,861 |
Weighted-average shares outstanding | 128,654 | 125,864 | 122,663 |
Basic earnings per common share | $8.26 | $7.57 | $6.37 |
Earnings_Per_Common_Share_Comp1
Earnings Per Common Share - Computations of Diluted Earnings Per Common Share (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Net income available to common equity | $1,076,418 | $968,022 | $793,622 |
Less: Income attributable to unvested stock-based compensation awards | -13,922 | -14,593 | -11,857 |
Net income available to common shareholders | $1,062,496 | $953,429 | $781,765 |
Adjusted weighted-average shares outstanding: | ' | ' | ' |
Common and unvested stock-based compensation awards | 130,354 | 127,793 | 124,524 |
Less: Unvested stock-based compensation awards | -1,700 | -1,929 | -1,861 |
Plus: Incremental shares from assumed conversion of stock-based compensation awards | 949 | 541 | 416 |
Adjusted weighted-average shares outstanding | 129,603 | 126,405 | 123,079 |
Diluted earnings per common share | $8.20 | $7.54 | $6.35 |
Earnings_Per_Common_Share_Addi
Earnings Per Common Share - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 3,847,000 | 8,905,000 | 11,268,000 |
Comprehensive_Income_Component
Comprehensive Income - Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components Of Comprehensive Income [Line Items] | ' | ' | ' |
Beginning balance | ($395,657) | ($586,769) | ($337,652) |
Unrealized holding gains (losses), net | -51,834 | 134,923 | 76,576 |
Foreign currency translation adjustment | 546 | 809 | -1,240 |
Current year pension gains (losses) | 260,452 | -29,823 | -272,260 |
Total other comprehensive income before reclassifications | 209,164 | 105,909 | -196,924 |
Accretion of unrealized holding losses on held-to-maturity ("HTM") securities | 4,287 | 6,190 | 7,035 |
OTTI charges recognized in net income | 9,800 | 47,822 | 77,035 |
Losses (gains) realized in net income | 33,088 | -9 | -149,929 |
Amortization of gains on terminated cash flow hedges | ' | -178 | -448 |
Amortization of prior service credit | -7,915 | -6,538 | -6,452 |
Amortization of actuarial losses | 41,436 | 37,916 | 20,566 |
Total reclassifications | 80,696 | 85,203 | -52,193 |
Total gain (loss) during the period | 289,860 | 191,112 | -249,117 |
Ending balance | -105,797 | -395,657 | -586,769 |
Beginning balance | 155,393 | 230,328 | 132,432 |
Unrealized holding gains(losses), net | 20,311 | -52,905 | -29,786 |
Foreign currency translation adjustment | -165 | -290 | 437 |
Current year pension gains (losses) | -102,227 | 11,705 | 106,862 |
Total other comprehensive income before reclassifications | -82,081 | -41,490 | 77,513 |
Accretion of unrealized holding losses on held-to-maturity ("HTM") securities | -1,683 | -2,430 | -2,762 |
OTTI charges recognized in net income | -3,847 | -18,770 | -30,235 |
Losses (gains) realized in net income | -12,987 | 4 | 58,753 |
Amortization of gains on terminated cash flow hedges | ' | 66 | 167 |
Amortization of prior service credit | 3,107 | 2,566 | 2,532 |
Amortization of actuarial losses | -16,264 | -14,881 | -8,072 |
Total reclassifications | -31,674 | -33,445 | 20,383 |
Total gain (loss) during the period | -113,755 | -74,935 | 97,896 |
Ending balance | 41,638 | 155,393 | 230,328 |
Beginning Balance | -240,264 | -356,441 | -205,220 |
Unrealized holding gains(losses), net | -31,523 | 82,018 | 46,790 |
Foreign currency translation adjustment | 381 | 519 | -803 |
Current year pension gains (losses) | 158,225 | -18,118 | -165,398 |
Total other comprehensive income before reclassifications | 127,083 | 64,419 | -119,411 |
Accretion of unrealized holding losses on held-to-maturity ("HTM") securities | 2,604 | 3,760 | 4,273 |
OTTI charges recognized in net income | 5,953 | 29,052 | 46,800 |
Losses (gains) realized in net income | 20,101 | -5 | -91,176 |
Amortization of gains on terminated cash flow hedges | ' | -112 | -281 |
Amortization of prior service credit | -4,808 | -3,972 | -3,920 |
Amortization of actuarial losses | 25,172 | 23,035 | 12,494 |
Total reclassifications | 49,022 | 51,758 | -31,810 |
Total gain (loss) during the period | 176,105 | 116,177 | -151,221 |
Ending balance | -64,159 | -240,264 | -356,441 |
Investment Securities With OTTI [Member] | ' | ' | ' |
Components Of Comprehensive Income [Line Items] | ' | ' | ' |
Beginning balance | -91,835 | -138,319 | -143,139 |
Unrealized holding gains (losses), net | 77,794 | -2,998 | -68,946 |
Foreign currency translation adjustment | ' | ' | ' |
Current year pension gains (losses) | ' | ' | ' |
Total other comprehensive income before reclassifications | 77,794 | -2,998 | -68,946 |
Accretion of unrealized holding losses on held-to-maturity ("HTM") securities | 279 | 1,660 | 545 |
OTTI charges recognized in net income | 9,800 | 47,822 | 77,035 |
Losses (gains) realized in net income | 41,217 | ' | -3,814 |
Amortization of gains on terminated cash flow hedges | ' | ' | ' |
Amortization of prior service credit | ' | ' | ' |
Amortization of actuarial losses | ' | ' | ' |
Total reclassifications | 51,296 | 49,482 | 73,766 |
Total gain (loss) during the period | 129,090 | 46,484 | 4,820 |
Ending balance | 37,255 | -91,835 | -138,319 |
Investment Securities All Other [Member] | ' | ' | ' |
Components Of Comprehensive Income [Line Items] | ' | ' | ' |
Beginning balance | 152,199 | 9,757 | 3,860 |
Unrealized holding gains (losses), net | -129,628 | 137,921 | 145,522 |
Foreign currency translation adjustment | ' | ' | ' |
Current year pension gains (losses) | ' | ' | ' |
Total other comprehensive income before reclassifications | -129,628 | 137,921 | 145,522 |
Accretion of unrealized holding losses on held-to-maturity ("HTM") securities | 4,008 | 4,530 | 6,490 |
OTTI charges recognized in net income | ' | ' | ' |
Losses (gains) realized in net income | -8,129 | -9 | -146,115 |
Amortization of gains on terminated cash flow hedges | ' | ' | ' |
Amortization of prior service credit | ' | ' | ' |
Amortization of actuarial losses | ' | ' | ' |
Total reclassifications | -4,121 | 4,521 | -139,625 |
Total gain (loss) during the period | -133,749 | 142,442 | 5,897 |
Ending balance | 18,450 | 152,199 | 9,757 |
Defined Benefit Plans [Member] | ' | ' | ' |
Components Of Comprehensive Income [Line Items] | ' | ' | ' |
Beginning balance | -455,590 | -457,145 | -198,999 |
Unrealized holding gains (losses), net | ' | ' | ' |
Foreign currency translation adjustment | ' | ' | ' |
Current year pension gains (losses) | 260,452 | -29,823 | -272,260 |
Total other comprehensive income before reclassifications | 260,452 | -29,823 | -272,260 |
Accretion of unrealized holding losses on held-to-maturity ("HTM") securities | ' | ' | ' |
OTTI charges recognized in net income | ' | ' | ' |
Losses (gains) realized in net income | ' | ' | ' |
Amortization of gains on terminated cash flow hedges | ' | ' | ' |
Amortization of prior service credit | -7,915 | -6,538 | -6,452 |
Amortization of actuarial losses | 41,436 | 37,916 | 20,566 |
Total reclassifications | 33,521 | 31,378 | 14,114 |
Total gain (loss) during the period | 293,973 | 1,555 | -258,146 |
Ending balance | -161,617 | -455,590 | -457,145 |
Beginning Balance | -276,771 | -277,716 | -120,892 |
Total gain (loss) during the period | 178,589 | 945 | -156,824 |
Ending balance | -98,182 | -276,771 | -277,716 |
Other [Member] | ' | ' | ' |
Components Of Comprehensive Income [Line Items] | ' | ' | ' |
Beginning balance | -431 | -1,062 | 626 |
Unrealized holding gains (losses), net | ' | ' | ' |
Foreign currency translation adjustment | 546 | 809 | -1,240 |
Current year pension gains (losses) | ' | ' | ' |
Total other comprehensive income before reclassifications | 546 | 809 | -1,240 |
Accretion of unrealized holding losses on held-to-maturity ("HTM") securities | ' | ' | ' |
OTTI charges recognized in net income | ' | ' | ' |
Losses (gains) realized in net income | ' | ' | ' |
Amortization of gains on terminated cash flow hedges | ' | -178 | -448 |
Amortization of prior service credit | ' | ' | ' |
Amortization of actuarial losses | ' | ' | ' |
Total reclassifications | ' | -178 | -448 |
Total gain (loss) during the period | 546 | 631 | -1,688 |
Ending balance | $115 | ($431) | ($1,062) |
Comprehensive_Income_Accumulat
Comprehensive Income - Accumulated Other Comprehensive Income (Loss), Net Consisted of Unrealized Gains (Losses) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | ($240,264) | ($356,441) | ($205,220) |
Net gain (loss) during period | 176,105 | 116,177 | -151,221 |
Ending balance | -64,159 | -240,264 | -356,441 |
Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | ' | 112 | 393 |
Net gain (loss) during period | ' | -112 | -281 |
Ending balance | ' | ' | 112 |
Foreign Currency Translation Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | -284 | -803 | ' |
Net gain (loss) during period | 381 | 519 | -803 |
Ending balance | 97 | -284 | -803 |
Defined Benefit Plans [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | -276,771 | -277,716 | -120,892 |
Net gain (loss) during period | 178,589 | 945 | -156,824 |
Ending balance | -98,182 | -276,771 | -277,716 |
Investment Securities [Member] | Investment Securities With OTTI [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | -55,790 | -84,029 | -87,053 |
Net gain (loss) during period | 78,422 | 28,239 | 3,024 |
Ending balance | 22,632 | -55,790 | -84,029 |
Investment Securities [Member] | Investment Securities All Other [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | 92,581 | 5,995 | 2,332 |
Net gain (loss) during period | -81,287 | 86,586 | 3,663 |
Ending balance | $11,294 | $92,581 | $5,995 |
Other_income_and_other_expense2
Other income and other expense - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Other Income And Expenses [Abstract] | ' |
Minimum percentage of interest income and other income for separate disclosure | 1.00% |
Other_income_and_other_expense3
Other income and other expense - Other Income and Other Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other income: | ' | ' | ' |
Bank owned life insurance | $56,120 | $51,199 | $50,776 |
Credit-related fee income | 72,271 | 68,596 | 73,886 |
Letter of credit fees | 59,889 | 58,496 | 56,247 |
Non-taxable gain from business combination | ' | ' | 64,930 |
Gains from loan securitization transactions | 63,066 | ' | ' |
Other expense: | ' | ' | ' |
Professional services | 335,794 | 248,544 | 222,122 |
Amortization of capitalized servicing rights | 65,354 | 59,555 | 55,859 |
Advertising and promotion | 56,597 | 52,388 | 58,312 |
Write-down of investment in Bayview Lending Group LLC ("BLG") | ' | ' | $79,012 |
International_activities_Addit
International activities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
International Activities [Abstract] | ' | ' | ' |
Revenues from trust-related services | $26,000,000 | $24,000,000 | $15,000,000 |
Net assets identified with international activities | 226,000,000 | 179,000,000 | ' |
Loans to foreign borrowers | 192,000,000 | 149,000,000 | ' |
Deposits at Cayman Islands office | $322,746,000 | $1,044,519,000 | ' |
Recovered_Sheet7
Derivative Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Derivative [Line Items] | ' | ' | ' |
Increase in net interest income due to interest rate swap agreements | $41,000,000 | $36,000,000 | $38,000,000 |
Notional value of interest rate swap agreement impacting net interest income, contract entered into for interest rate risk management purposes | 1,200,000,000 | 900,000,000 | 900,000,000 |
Notional value of foreign currency and other option and futures contracts entered into for trading purposes | 1,400,000,000 | 869,000,000 | ' |
Net unrealized pre-tax gains related to hedged loans held for sale, commitments to originate loans for sale and commitments to sell loans | 23,000,000 | 89,000,000 | ' |
Aggregate fair value of derivative financial instruments in a liability position | 194,000,000 | 374,000,000 | ' |
Net liability positions with counterparties | 107,000,000 | 281,000,000 | ' |
Post collateral requirements relating to positions | 95,000,000 | 266,000,000 | ' |
Fair value of additional collateral to be posted for derivative financial instruments | 11,000,000 | ' | ' |
Aggregate fair value of derivative financial instruments in asset position | 183,000,000 | 164,000,000 | ' |
Net asset positions with counterparties | 95,000,000 | 71,000,000 | ' |
Counterparties posted collateral relating to positions | 93,000,000 | 69,000,000 | ' |
Credit Risk Derivative [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Aggregate fair value of derivative financial instruments in a net liability position | 34,000,000 | ' | ' |
Fair value of collateral already posted for derivative financial instruments | 23,000,000 | ' | ' |
Interest rate contracts [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional value of interest rate contracts entered into trading purposes | $17,400,000,000 | $15,500,000,000 | ' |
Recovered_Sheet8
Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Detail) (Fixed rate long-term borrowings [Member], Fair Value Hedges [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fixed rate long-term borrowings [Member] | Fair Value Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | $1,400,000 | $900,000 |
Average Maturity (in years) | '3 years 8 months 12 days | '4 years 4 months 24 days |
Weighted-Average Rate, Fixed | 4.42% | 6.07% |
Weighted-Average Rate, Variable | 1.20% | 1.85% |
Estimated Fair Value Gain | $102,875 | $143,179 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Notional Amount of Interest Rate Swap Agreements Outstanding Maturity (Detail) (Interest rate swap agreements [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Interest rate swap agreements [Member] | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' |
2016 | $500,000 |
2017 | 400,000 |
2018 | 500,000 |
Total | $1,400,000 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | $414,263 | $603,019 |
Liability derivatives, Fair value | 254,189 | 384,866 |
Derivatives designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 109,832 | 144,293 |
Liability derivatives, Fair value | 487 | 3,825 |
Derivatives not designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 304,431 | 458,726 |
Liability derivatives, Fair value | 253,702 | 381,041 |
Interest rate swap agreements [Member] | Derivatives designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 102,875 | 143,179 |
Liability derivatives, Fair value | ' | ' |
Commitments to sell real estate loans [Member] | Derivatives designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 6,957 | 1,114 |
Liability derivatives, Fair value | 487 | 3,825 |
Commitments to sell real estate loans [Member] | Derivatives not designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 6,120 | 1,982 |
Liability derivatives, Fair value | 230 | 6,570 |
Mortgage-related commitments to originate real estate loans for sale [Member] | Derivatives not designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 7,616 | 48,056 |
Liability derivatives, Fair value | 3,675 | 197 |
Interest rate contracts [Member] | Derivatives not designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 274,864 | 399,963 |
Liability derivatives, Fair value | 234,455 | 365,616 |
Foreign exchange and other option and futures contracts [Member] | Derivatives not designated and qualifying as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives, Fair value | 15,831 | 8,725 |
Liability derivatives, Fair value | $15,342 | $8,658 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Statement of Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivatives not designated as hedging instruments, Derivatives | $6,455 | $4,034 | $3,481 |
Interest rate contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivatives not designated as hedging instruments, Derivatives | 9,824 | 8,004 | 6,130 |
Foreign exchange and other option and futures contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivatives not designated as hedging instruments, Derivatives | -3,369 | -3,970 | -2,649 |
Interest rate swap agreements [Member] | Fixed rate long-term borrowings [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivatives in fair value hedging relationships, Derivatives | -40,304 | -4,123 | 50,665 |
Derivatives in fair value hedging relationships, Hedged item | $38,986 | $3,724 | ($47,916) |
Recovered_Sheet9
Variable Interest Entities and Asset Securitizations - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Variable Interest Entity Disclosure [Abstract] | ' | ' | ' | ' |
Residential mortgage loans securitized with Ginnie Mae | ' | $1,300,000,000 | $3,000,000,000 | ' |
Residential mortgage loans securitized formerly held in Company's portfolio | ' | ' | 1,300,000,000 | ' |
Recognized gain | ' | 42,382,000 | 42,382,000 | ' |
Gains of newly originated loans | ' | ' | 28,000,000 | ' |
Automobile loans securitized and sold | 1,400,000,000 | ' | 1,400,000,000 | ' |
Recognized gain sale of securities | 20,683,000 | ' | 20,683,000 | ' |
Carrying value of loans in the Securitization trusts | ' | ' | 121,000,000 | 151,000,000 |
Combined outstanding principal amount of mortgage-backed securities issued by qualified special purpose trust held by unrelated parties | ' | ' | 18,000,000 | 23,000,000 |
Other assets for its "investment" in the common securities recognized by the company of various trusts | ' | ' | 34,000,000 | 34,000,000 |
Total assets of real estate partnerships in which the company invested | ' | ' | 1,300,000,000 | 1,500,000,000 |
Maximum exposure to loss of investments in real estate partnerships | ' | ' | 236,000,000 | 270,000,000 |
Unfunded commitments included in company's maximum exposure to loss of investments in real estate partnerships | ' | ' | $45,000,000 | $71,000,000 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Number of independent pricing sources used to value privately issued mortgage-backed securities valued with internal modeling | ' | 2 | ' |
Privately issued mortgage-backed securities at cost | ' | $1,100,000,000 | ' |
Weighted-average reliance on internal model pricing, percentage | 33.00% | ' | ' |
Average weighting placed on the values provided by the independent sources, percentage | 67.00% | ' | ' |
Weighted average discount margin over LIBOR | 8.00% | ' | ' |
Securities issued by financial institutions and other entities backed by trust preferred securities at cost | 42,000,000 | 43,000,000 | ' |
Fair value of securities issued by financial institutions and other entities backed by trust preferred securities | 63,000,000 | 62,000,000 | ' |
Other-than-temporary losses | ' | 5,000,000 | 12,000,000 |
Loans measured at fair value on nonrecurring basis | 222,000,000 | 335,000,000 | 419,000,000 |
Change in fair value of nonrecurring fair value measured loans for charge-offs and impairment reserves | 58,000,000 | 67,000,000 | 158,000,000 |
Assets taken in foreclosure of defaulted loans measured at fair value on a nonrecurring basis | 29,000,000 | 34,000,000 | ' |
Other-than-temporary impairment charge related to investment in BLG | 0 | 0 | 79,000,000 |
Investment in BLG | ' | ' | 20.00% |
Carrying value of minority interest investment in Bayview Lending Group LLC | 74,000,000 | ' | 115,000,000 |
Weighted average projected default percentage on Bayview Lending Group mortgage loan collateral | ' | ' | 31.00% |
Weighted average loss severity factor on Bayview Lending Group mortgage loan collateral | ' | ' | 75.00% |
Significant Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Loans measured at fair value on nonrecurring basis | 173,000,000 | 207,000,000 | 262,000,000 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Loans measured at fair value on nonrecurring basis | $49,000,000 | $128,000,000 | $157,000,000 |
Investment fair value percent | ' | ' | 20.00% |
Minimum [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Discount margin over LIBOR | 5.00% | ' | ' |
Discount rates for fair value estimations | 20.00% | ' | ' |
Discount rates | 8.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Discount margin over LIBOR | 11.00% | ' | ' |
Discount rates for fair value estimations | 90.00% | ' | ' |
Discount rates | 12.50% | ' | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account assets | $376,131 | $488,966 |
Investment securities | 4,531,786 | 4,739,437 |
Real estate loans held for sale | 468,650 | 1,387,491 |
Other assets | 123,568 | 194,331 |
Total assets | 5,500,135 | 6,810,225 |
Trading account liabilities | 249,797 | 374,274 |
Other liabilities | 4,392 | 10,592 |
Total liabilities | 254,189 | 384,866 |
U.S. Treasury and Federal Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 37,776 | 39,344 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 10,811 | 20,901 |
Government Issued or Guaranteed [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 4,165,086 | 3,371,041 |
Privately Issued Mortgage-Backed Securities [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 1,850 | 1,023,886 |
Collateralized Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 63,083 | 61,869 |
Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 120,085 | 111,950 |
Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 133,095 | 110,446 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account assets | 51,386 | 56,106 |
Investment securities | 82,450 | 98,364 |
Real estate loans held for sale | ' | ' |
Other assets | ' | ' |
Total assets | 133,836 | 154,470 |
Trading account liabilities | ' | ' |
Other liabilities | ' | ' |
Total liabilities | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury and Federal Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Government Issued or Guaranteed [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Privately Issued Mortgage-Backed Securities [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Collateralized Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 82,450 | 98,364 |
Significant Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account assets | 324,745 | 432,860 |
Investment securities | 4,384,403 | 3,555,318 |
Real estate loans held for sale | 468,650 | 1,387,491 |
Other assets | 115,952 | 146,275 |
Total assets | 5,293,750 | 5,521,944 |
Trading account liabilities | 249,797 | 374,274 |
Other liabilities | 717 | 10,395 |
Total liabilities | 250,514 | 384,669 |
Significant Observable Inputs (Level 2) [Member] | U.S. Treasury and Federal Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 37,776 | 39,344 |
Significant Observable Inputs (Level 2) [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 10,811 | 20,901 |
Significant Observable Inputs (Level 2) [Member] | Government Issued or Guaranteed [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 4,165,086 | 3,371,041 |
Significant Observable Inputs (Level 2) [Member] | Privately Issued Mortgage-Backed Securities [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Collateralized Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Significant Observable Inputs (Level 2) [Member] | Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 120,085 | 111,950 |
Significant Observable Inputs (Level 2) [Member] | Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 50,645 | 12,082 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading account assets | ' | ' |
Investment securities | 64,933 | 1,085,755 |
Real estate loans held for sale | ' | ' |
Other assets | 7,616 | 48,056 |
Total assets | 72,549 | 1,133,811 |
Trading account liabilities | ' | ' |
Other liabilities | 3,675 | 197 |
Total liabilities | 3,675 | 197 |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury and Federal Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Government Issued or Guaranteed [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Privately Issued Mortgage-Backed Securities [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 1,850 | 1,023,886 |
Significant Unobservable Inputs (Level 3) [Member] | Collateralized Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | 63,083 | 61,869 |
Significant Unobservable Inputs (Level 3) [Member] | Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities | ' | ' |
Fair_Value_Measurements_Change
Fair Value Measurements - Changes in Level 3 Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Assets and Other Liabilities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Beginning Balance | $47,859 | $6,923 | $2,244 |
Total gains (losses) realized/unrealized: | ' | ' | ' |
Included in earnings | 97,845 | 212,281 | 67,163 |
Included in other comprehensive income | ' | ' | ' |
Purchases | ' | ' | ' |
Sales | ' | ' | ' |
Settlements | ' | ' | ' |
Transfers in and/or out of Level 3 | -141,763 | -171,345 | -62,484 |
Ending Balance | 3,941 | 47,859 | 6,923 |
Changes in unrealized gains (losses) included in earnings related to assets still held at end of period | 3,431 | 47,859 | 6,902 |
Mortgage-backed Securities, Privately issued [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Beginning Balance | 1,023,886 | 1,151,285 | 1,457,968 |
Total gains (losses) realized/unrealized: | ' | ' | ' |
Included in earnings | -56,102 | -42,467 | -64,919 |
Included in other comprehensive income | 116,359 | 114,592 | 6,816 |
Purchases | ' | ' | ' |
Sales | -978,608 | ' | ' |
Settlements | -103,685 | -199,524 | -248,580 |
Transfers in and/or out of Level 3 | ' | ' | ' |
Ending Balance | 1,850 | 1,023,886 | 1,151,285 |
Changes in unrealized gains (losses) included in earnings related to assets still held at end of period | ' | -42,467 | -64,919 |
Collateralized Debt Obligations [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Beginning Balance | 61,869 | 52,500 | 110,756 |
Total gains (losses) realized/unrealized: | ' | ' | ' |
Included in earnings | ' | ' | 19,231 |
Included in other comprehensive income | 4,508 | 12,214 | -272 |
Purchases | ' | ' | 50,790 |
Sales | ' | ' | -124,874 |
Settlements | -3,294 | -2,845 | -3,131 |
Transfers in and/or out of Level 3 | ' | ' | ' |
Ending Balance | 63,083 | 61,869 | 52,500 |
Changes in unrealized gains (losses) included in earnings related to assets still held at end of period | ' | ' | ' |
Fair_Value_Measurements_Quanti
Fair Value Measurements - Quantitative Information Related to Significant Unobservable Inputs (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Mortgage-backed Securities, Privately issued [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Investments | $1,850 | $1,023,886 | $1,151,285 | $1,457,968 |
Valuation technique | 'Two independent pricing quotes | 'Discounted cash flow | ' | ' |
Unobservable inputs/ assumptions | '- | 'Probability of default Loss severity | ' | ' |
Mortgage-backed Securities, Privately issued [Member] | Weighted Average [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Probability of default | ' | 19.00% | ' | ' |
Loss severity | ' | 51.00% | ' | ' |
Mortgage-backed Securities, Privately issued [Member] | Minimum [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Probability of default | ' | 1.00% | ' | ' |
Loss severity | ' | 32.00% | ' | ' |
Mortgage-backed Securities, Privately issued [Member] | Maximum [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Probability of default | ' | 40.00% | ' | ' |
Loss severity | ' | 82.00% | ' | ' |
Collateralized Debt Obligations [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Investments | 63,083 | 61,869 | 52,500 | 110,756 |
Valuation technique | 'Discounted cash flow | 'Discounted cash flow | ' | ' |
Unobservable inputs/ assumptions | 'Probability of default Loss severity | 'Probability of default Loss severity | ' | ' |
Collateralized Debt Obligations [Member] | Weighted Average [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Probability of default | 39.00% | 47.00% | ' | ' |
Collateralized Debt Obligations [Member] | Minimum [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Probability of default | 17.00% | 22.00% | ' | ' |
Collateralized Debt Obligations [Member] | Maximum [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Probability of default | 55.00% | 69.00% | ' | ' |
Loss severity | 100.00% | 100.00% | ' | ' |
Other Assets and Other Liabilities [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Investments | $3,941 | $47,859 | $6,923 | $2,244 |
Valuation technique | 'Discounted cash flow | 'Discounted cash flow | ' | ' |
Unobservable inputs/ assumptions | 'Commitment expirations | 'Commitment expirations | ' | ' |
Other Assets and Other Liabilities [Member] | Weighted Average [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Commitment expirations weighted-average | 20.00% | 20.00% | ' | ' |
Other Assets and Other Liabilities [Member] | Minimum [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Commitment expirations | 0.00% | 0.00% | ' | ' |
Other Assets and Other Liabilities [Member] | Maximum [Member] | ' | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' |
Commitment expirations | 90.00% | 69.00% | ' | ' |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | $1,672,934 | $1,986,615 | $1,452,397 | $933,755 |
Interest-bearing deposits at banks | 1,651,138 | 129,945 | ' | ' |
Trading account assets | 376,131 | 488,966 | ' | ' |
Loans and leases: | ' | ' | ' | ' |
Residential real estate loans | 8,911,554 | 11,161,323 | ' | ' |
Consumer loans | 10,280,527 | 11,550,274 | ' | ' |
Allowance for credit losses | -916,676 | -925,860 | -908,290 | -902,941 |
Loans and leases, net | 63,156,483 | 65,645,097 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | -24,661,007 | -24,240,802 | ' | ' |
Time deposits | -3,523,838 | -4,562,366 | ' | ' |
Deposits at Cayman Islands office | -322,746 | -1,044,519 | ' | ' |
Long-term borrowings | -5,108,870 | -4,607,758 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 1,596,877 | 1,895,423 | ' | ' |
Interest-bearing deposits at banks | ' | ' | ' | ' |
Trading account assets | 51,386 | 56,106 | ' | ' |
Investment securities | 82,450 | 98,364 | ' | ' |
Loans and leases: | ' | ' | ' | ' |
Commercial loans and leases | ' | ' | ' | ' |
Commercial real estate loans | ' | ' | ' | ' |
Residential real estate loans | ' | ' | ' | ' |
Consumer loans | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Loans and leases, net | ' | ' | ' | ' |
Accrued interest receivable | ' | ' | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | ' | ' | ' | ' |
Savings deposits and NOW accounts | ' | ' | ' | ' |
Time deposits | ' | ' | ' | ' |
Deposits at Cayman Islands office | ' | ' | ' | ' |
Short-term borrowings | ' | ' | ' | ' |
Long-term borrowings | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' |
Trading account liabilities | ' | ' | ' | ' |
Other financial instruments: | ' | ' | ' | ' |
Commitments to originate real estate loans for sale | ' | ' | ' | ' |
Commitments to sell real estate loans | ' | ' | ' | ' |
Other credit-related commitments | ' | ' | ' | ' |
Interest rate swap agreements used for interest rate risk management | ' | ' | ' | ' |
Significant Observable Inputs (Level 2) [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 76,057 | 91,192 | ' | ' |
Interest-bearing deposits at banks | 1,651,138 | 129,945 | ' | ' |
Trading account assets | 324,745 | 432,860 | ' | ' |
Investment securities | 8,384,106 | 4,687,211 | ' | ' |
Loans and leases: | ' | ' | ' | ' |
Commercial loans and leases | ' | ' | ' | ' |
Commercial real estate loans | 67,505 | 199,997 | ' | ' |
Residential real estate loans | 5,432,207 | 8,100,915 | ' | ' |
Consumer loans | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Loans and leases, net | 5,499,712 | 8,300,912 | ' | ' |
Accrued interest receivable | 222,558 | 222,897 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | -24,661,007 | -24,240,802 | ' | ' |
Savings deposits and NOW accounts | -38,611,021 | -35,763,566 | ' | ' |
Time deposits | -3,542,789 | -4,584,384 | ' | ' |
Deposits at Cayman Islands office | -322,746 | -1,044,519 | ' | ' |
Short-term borrowings | -260,455 | -1,074,482 | ' | ' |
Long-term borrowings | -5,244,902 | -4,768,408 | ' | ' |
Accrued interest payable | -43,419 | -54,281 | ' | ' |
Trading account liabilities | -249,797 | -374,274 | ' | ' |
Other financial instruments: | ' | ' | ' | ' |
Commitments to originate real estate loans for sale | ' | ' | ' | ' |
Commitments to sell real estate loans | 12,360 | -7,299 | ' | ' |
Other credit-related commitments | ' | ' | ' | ' |
Interest rate swap agreements used for interest rate risk management | 102,875 | 143,179 | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Interest-bearing deposits at banks | ' | ' | ' | ' |
Trading account assets | ' | ' | ' | ' |
Investment securities | 223,938 | 1,233,393 | ' | ' |
Loans and leases: | ' | ' | ' | ' |
Commercial loans and leases | 18,457,288 | 17,554,562 | ' | ' |
Commercial real estate loans | 25,950,690 | 25,658,485 | ' | ' |
Residential real estate loans | 3,435,665 | 3,280,404 | ' | ' |
Consumer loans | 10,201,087 | 11,504,799 | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Loans and leases, net | 58,044,730 | 57,998,250 | ' | ' |
Accrued interest receivable | ' | ' | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | ' | ' | ' | ' |
Savings deposits and NOW accounts | ' | ' | ' | ' |
Time deposits | ' | ' | ' | ' |
Deposits at Cayman Islands office | ' | ' | ' | ' |
Short-term borrowings | ' | ' | ' | ' |
Long-term borrowings | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' |
Trading account liabilities | ' | ' | ' | ' |
Other financial instruments: | ' | ' | ' | ' |
Commitments to originate real estate loans for sale | 3,941 | 47,859 | ' | ' |
Commitments to sell real estate loans | ' | ' | ' | ' |
Other credit-related commitments | -118,886 | -119,464 | ' | ' |
Interest rate swap agreements used for interest rate risk management | ' | ' | ' | ' |
Carrying Amount [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 1,672,934 | 1,986,615 | ' | ' |
Interest-bearing deposits at banks | 1,651,138 | 129,945 | ' | ' |
Trading account assets | 376,131 | 488,966 | ' | ' |
Investment securities | 8,796,497 | 6,074,361 | ' | ' |
Loans and leases: | ' | ' | ' | ' |
Commercial loans and leases | 18,705,216 | 17,776,953 | ' | ' |
Commercial real estate loans | 26,148,208 | 25,993,790 | ' | ' |
Residential real estate loans | 8,928,221 | 11,240,837 | ' | ' |
Consumer loans | 10,291,514 | 11,559,377 | ' | ' |
Allowance for credit losses | -916,676 | -925,860 | ' | ' |
Loans and leases, net | 63,156,483 | 65,645,097 | ' | ' |
Accrued interest receivable | 222,558 | 222,897 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | -24,661,007 | -24,240,802 | ' | ' |
Savings deposits and NOW accounts | -38,611,021 | -35,763,566 | ' | ' |
Time deposits | -3,523,838 | -4,562,366 | ' | ' |
Deposits at Cayman Islands office | -322,746 | -1,044,519 | ' | ' |
Short-term borrowings | -260,455 | -1,074,482 | ' | ' |
Long-term borrowings | -5,108,870 | -4,607,758 | ' | ' |
Accrued interest payable | -43,419 | -54,281 | ' | ' |
Trading account liabilities | -249,797 | -374,274 | ' | ' |
Other financial instruments: | ' | ' | ' | ' |
Commitments to originate real estate loans for sale | 3,941 | 47,859 | ' | ' |
Commitments to sell real estate loans | 12,360 | -7,299 | ' | ' |
Other credit-related commitments | -118,886 | -119,464 | ' | ' |
Interest rate swap agreements used for interest rate risk management | 102,875 | 143,179 | ' | ' |
Estimate Fair Value [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 1,672,934 | 1,986,615 | ' | ' |
Interest-bearing deposits at banks | 1,651,138 | 129,945 | ' | ' |
Trading account assets | 376,131 | 488,966 | ' | ' |
Investment securities | 8,690,494 | 6,018,968 | ' | ' |
Loans and leases: | ' | ' | ' | ' |
Commercial loans and leases | 18,457,288 | 17,554,562 | ' | ' |
Commercial real estate loans | 26,018,195 | 25,858,482 | ' | ' |
Residential real estate loans | 8,867,872 | 11,381,319 | ' | ' |
Consumer loans | 10,201,087 | 11,504,799 | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Loans and leases, net | 63,544,442 | 66,299,162 | ' | ' |
Accrued interest receivable | 222,558 | 222,897 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | -24,661,007 | -24,240,802 | ' | ' |
Savings deposits and NOW accounts | -38,611,021 | -35,763,566 | ' | ' |
Time deposits | -3,542,789 | -4,584,384 | ' | ' |
Deposits at Cayman Islands office | -322,746 | -1,044,519 | ' | ' |
Short-term borrowings | -260,455 | -1,074,482 | ' | ' |
Long-term borrowings | -5,244,902 | -4,768,408 | ' | ' |
Accrued interest payable | -43,419 | -54,281 | ' | ' |
Trading account liabilities | -249,797 | -374,274 | ' | ' |
Other financial instruments: | ' | ' | ' | ' |
Commitments to originate real estate loans for sale | 3,941 | 47,859 | ' | ' |
Commitments to sell real estate loans | 12,360 | -7,299 | ' | ' |
Other credit-related commitments | -118,886 | -119,464 | ' | ' |
Interest rate swap agreements used for interest rate risk management | $102,875 | $143,179 | ' | ' |
Recovered_Sheet10
Commitments and Contingencies - Company's Significant Commitments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments to extend credit | ' | ' |
Home equity lines of credit | $6,218,823 | $6,282,615 |
Commercial real estate loans to be sold | 62,386 | 139,929 |
Other commercial real estate and construction | 3,919,545 | 3,819,342 |
Residential real estate loans to be sold | 469,869 | 1,550,441 |
Other residential real estate | 384,617 | 445,268 |
Commercial and other | 10,419,545 | 10,070,711 |
Standby letters of credit | 3,600,528 | 4,025,329 |
Commercial letters of credit | 53,284 | 53,201 |
Financial guarantees and indemnification contracts | 2,457,633 | 2,120,361 |
Commitments to sell real estate loans | $854,656 | $2,625,408 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Significant Commitments [Line Items] | ' | ' |
Maximum credit risk for recourse associated with loans sold under Federal National Mortgage Association Delegated Underwriting and Servicing program | $2,300,000,000 | $2,000,000,000 |
Period of noncancelable operating lease in years | '25 years | ' |
Outstanding loan principal balances reinsured | 19,000,000 | ' |
Assets of subsidiaries providing reinsurance to satisfy claims | 36,000,000 | ' |
Range of reasonably possible losses, minimum | 0 | ' |
Range of reasonably possible losses, maximum | 50,000,000 | ' |
2014 - 2017 [Member] | ' | ' |
Significant Commitments [Line Items] | ' | ' |
Naming rights of football stadium per year | $6,000,000 | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Minimum Lease Payments Under Noncancellable Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $85,923 |
2015 | 80,237 |
2016 | 66,265 |
2017 | 52,793 |
2018 | 43,593 |
Later years | 135,156 |
Total | $463,967 |
Segment_Information_Informatio
Segment Information - Information about Company's Segments (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | $2,673,229,000 | $2,598,516,000 | $2,389,756,000 |
Noninterest income | 1,865,205,000 | 1,667,270,000 | 1,582,912,000 |
Total income | 4,538,434,000 | 4,265,786,000 | 3,972,668,000 |
Provision for credit losses | 185,000,000 | 204,000,000 | 270,000,000 |
Amortization of core deposit and other intangible assets | 46,912,000 | 60,631,000 | 61,617,000 |
Depreciation and other amortization | 156,823,000 | 143,930,000 | 136,163,000 |
Other noninterest expense | 2,432,150,000 | 2,304,699,000 | 2,280,288,000 |
Income (loss) before taxes | 1,717,549,000 | 1,552,526,000 | 1,224,600,000 |
Income tax expense (benefit) | 579,069,000 | 523,028,000 | 365,121,000 |
Net income (loss) | 1,138,480,000 | 1,029,498,000 | 859,479,000 |
Capital expenditures | 130,000,000 | 92,000,000 | 70,000,000 |
Reporting Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Average total assets | 83,662,000,000 | 79,983,000,000 | 73,977,000,000 |
Residential Mortgage Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 98,496,000 | 78,058,000 | 63,951,000 |
Noninterest income | 325,474,000 | 402,211,000 | 184,249,000 |
Total income | 423,970,000 | 480,269,000 | 248,200,000 |
Provision for credit losses | -11,711,000 | 17,169,000 | 36,375,000 |
Amortization of core deposit and other intangible assets | ' | ' | ' |
Depreciation and other amortization | 48,716,000 | 46,902,000 | 44,349,000 |
Other noninterest expense | 225,794,000 | 195,604,000 | 151,945,000 |
Income (loss) before taxes | 161,171,000 | 220,594,000 | 15,531,000 |
Income tax expense (benefit) | 61,779,000 | 85,671,000 | 2,403,000 |
Net income (loss) | 99,392,000 | 134,923,000 | 13,128,000 |
Capital expenditures | ' | 1,000,000 | ' |
Residential Mortgage Banking [Member] | Reporting Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Average total assets | 2,858,000,000 | 2,451,000,000 | 1,958,000,000 |
Retail Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 810,134,000 | 902,906,000 | 851,332,000 |
Noninterest income | 373,362,000 | 349,571,000 | 366,042,000 |
Total income | 1,183,496,000 | 1,252,477,000 | 1,217,374,000 |
Provision for credit losses | 72,502,000 | 95,345,000 | 101,679,000 |
Amortization of core deposit and other intangible assets | ' | ' | ' |
Depreciation and other amortization | 34,599,000 | 32,734,000 | 33,713,000 |
Other noninterest expense | 768,644,000 | 751,916,000 | 744,905,000 |
Income (loss) before taxes | 307,751,000 | 372,482,000 | 337,077,000 |
Income tax expense (benefit) | 125,350,000 | 151,616,000 | 137,161,000 |
Net income (loss) | 182,401,000 | 220,866,000 | 199,916,000 |
Capital expenditures | 40,000,000 | 15,000,000 | 25,000,000 |
Retail Banking [Member] | Reporting Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Average total assets | 10,997,000,000 | 11,705,000,000 | 11,940,000,000 |
All Other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 43,904,000 | -80,894,000 | -46,458,000 |
Noninterest income | 670,889,000 | 501,390,000 | 489,863,000 |
Total income | 714,793,000 | 420,496,000 | 443,405,000 |
Provision for credit losses | -3,094,000 | 4,917,000 | -61,349,000 |
Amortization of core deposit and other intangible assets | 46,912,000 | 60,631,000 | 61,617,000 |
Depreciation and other amortization | 57,120,000 | 50,536,000 | 45,495,000 |
Other noninterest expense | 690,150,000 | 693,046,000 | 771,534,000 |
Income (loss) before taxes | -76,295,000 | -388,634,000 | -373,892,000 |
Income tax expense (benefit) | -78,841,000 | -207,887,000 | -228,970,000 |
Net income (loss) | 2,546,000 | -180,747,000 | -144,922,000 |
Capital expenditures | 89,000,000 | 76,000,000 | 45,000,000 |
All Other [Member] | Reporting Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Average total assets | 9,442,000,000 | 7,952,000,000 | 8,042,000,000 |
Business Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 325,521,000 | 347,067,000 | 334,811,000 |
Noninterest income | 102,945,000 | 103,283,000 | 95,429,000 |
Total income | 428,466,000 | 450,350,000 | 430,240,000 |
Provision for credit losses | 26,450,000 | 22,245,000 | 45,689,000 |
Amortization of core deposit and other intangible assets | ' | ' | ' |
Depreciation and other amortization | 198,000 | 122,000 | 140,000 |
Other noninterest expense | 214,043,000 | 179,428,000 | 177,172,000 |
Income (loss) before taxes | 187,775,000 | 248,555,000 | 207,239,000 |
Income tax expense (benefit) | 76,735,000 | 101,484,000 | 84,532,000 |
Net income (loss) | 111,040,000 | 147,071,000 | 122,707,000 |
Average total assets | 5,080,000,000 | 4,909,000,000 | 5,192,000,000 |
Capital expenditures | 1,000,000 | ' | ' |
Commercial Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 758,231,000 | 753,678,000 | 655,407,000 |
Noninterest income | 263,766,000 | 253,808,000 | 249,150,000 |
Total income | 1,021,997,000 | 1,007,486,000 | 904,557,000 |
Provision for credit losses | 76,818,000 | 15,781,000 | 29,823,000 |
Amortization of core deposit and other intangible assets | ' | ' | ' |
Depreciation and other amortization | 564,000 | 567,000 | 553,000 |
Other noninterest expense | 288,842,000 | 262,820,000 | 248,428,000 |
Income (loss) before taxes | 655,773,000 | 728,318,000 | 625,753,000 |
Income tax expense (benefit) | 264,433,000 | 296,894,000 | 256,311,000 |
Net income (loss) | 391,340,000 | 431,424,000 | 369,442,000 |
Average total assets | 21,655,000,000 | 19,946,000,000 | 17,650,000,000 |
Capital expenditures | ' | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 570,786,000 | 531,398,000 | 467,683,000 |
Noninterest income | 130,895,000 | 133,120,000 | 99,409,000 |
Total income | 701,681,000 | 664,518,000 | 567,092,000 |
Provision for credit losses | 7,365,000 | 4,238,000 | 58,474,000 |
Amortization of core deposit and other intangible assets | ' | ' | ' |
Depreciation and other amortization | 14,296,000 | 11,004,000 | 9,054,000 |
Other noninterest expense | 214,246,000 | 190,879,000 | 154,042,000 |
Income (loss) before taxes | 465,774,000 | 458,397,000 | 345,522,000 |
Income tax expense (benefit) | 143,981,000 | 149,321,000 | 105,709,000 |
Net income (loss) | 321,793,000 | 309,076,000 | 239,813,000 |
Average total assets | 17,150,000,000 | 16,437,000,000 | 15,025,000,000 |
Capital expenditures | ' | ' | ' |
Discretionary Portfolio [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 66,157,000 | 66,303,000 | 63,030,000 |
Noninterest income | -2,126,000 | -76,113,000 | 98,770,000 |
Total income | 64,031,000 | -9,810,000 | 161,800,000 |
Provision for credit losses | 16,670,000 | 44,305,000 | 59,309,000 |
Amortization of core deposit and other intangible assets | ' | ' | ' |
Depreciation and other amortization | 1,330,000 | 2,065,000 | 2,859,000 |
Other noninterest expense | 30,431,000 | 31,006,000 | 32,262,000 |
Income (loss) before taxes | 15,600,000 | -87,186,000 | 67,370,000 |
Income tax expense (benefit) | -14,368,000 | -54,071,000 | 7,975,000 |
Net income (loss) | 29,968,000 | -33,115,000 | 59,395,000 |
Average total assets | 16,480,000,000 | 16,583,000,000 | 14,170,000,000 |
Capital expenditures | ' | ' | ' |
Segment_Information_Informatio1
Segment Information - Information about Company's Segments (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment Reporting [Abstract] | ' | ' | ' |
Taxable-equivalent adjustment | $24,971,000 | $26,391,000 | $25,876,000 |
Segment_Information_Intersegme
Segment Information - Intersegment Activity Eliminated in Arriving at Consolidated Totals was Included in "All Other" Category (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | ($4,538,434) | ($4,265,786) | ($3,972,668) |
Income taxes (benefit) | -579,069 | -523,028 | -365,121 |
Net income (loss) | -1,138,480 | -1,029,498 | -859,479 |
Intersegment activity eliminated in consolidated totals [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | -50,128 | -71,452 | -64,239 |
Expenses | -16,235 | -17,313 | -14,146 |
Income taxes (benefit) | -13,791 | -22,029 | -20,383 |
Net income (loss) | ($20,102) | ($32,110) | ($29,710) |
Segment_information_Additional
Segment information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Segment Reporting [Abstract] | ' |
Percent of maximum revenue from single customer on total revenues | 10.00% |
Regulatory_Matters_Additional_
Regulatory Matters - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Funds available for payment of dividends to M&T from banking subsidiaries | $1,110,000,000 | ' |
Required subsidiary noninterest-earning reserves against certain deposit liabilities | 595,593,000 | 604,789,000 |
Minimum "Tier 1 capital" ratio required for capital adequacy | 4.00% | ' |
Minimum "Total capital" ratio required for capital adequacy | 8.00% | ' |
Minimum "Leverage" ratio required for capital adequacy | 3.00% | ' |
Minimum "Tier 1" capital" ratio to be considered well capitalized | 6.00% | ' |
Minimum "Total capital" ratio to be considered well capitalized | 10.00% | ' |
Minimum "Leverage" ratio to be considered well capitalized | 5.00% | ' |
Minimum [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Consolidated assets required per Federal Reserve Board to submit annual capital plans | $50,000,000,000 | ' |
Regulatory_Matters_Capital_Rat
Regulatory Matters - Capital Ratios and Amounts of Company and its Banking Subsidiaries (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
M&T (Consolidated) [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Amount | $8,792,035 | $7,810,196 |
Ratio | 12.00% | 10.22% |
Minimum required amount | 2,930,925 | 3,057,093 |
Amount | 11,045,589 | 10,230,302 |
Ratio | 15.07% | 13.39% |
Minimum required amount | 5,861,849 | 6,114,186 |
Amount | 8,792,035 | 7,810,196 |
Ratio | 10.78% | 10.07% |
Minimum required amount | 2,446,476 | 2,327,122 |
M&T Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Amount | 7,341,506 | 6,767,774 |
Ratio | 10.08% | 8.92% |
Minimum required amount | 2,914,246 | 3,034,184 |
Amount | 9,445,770 | 8,981,931 |
Ratio | 12.96% | 11.84% |
Minimum required amount | 5,828,491 | 6,068,367 |
Amount | 7,341,506 | 6,767,774 |
Ratio | 9.09% | 8.84% |
Minimum required amount | 2,422,096 | 2,297,902 |
Wilmington Trust, N.A. [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Amount | 420,330 | 405,469 |
Ratio | 73.79% | 61.02% |
Minimum required amount | 22,786 | 26,580 |
Amount | 424,975 | 410,873 |
Ratio | 74.60% | 61.83% |
Minimum required amount | 45,573 | 53,160 |
Amount | 420,330 | 405,469 |
Ratio | 19.80% | 21.62% |
Minimum required amount | $63,678 | $56,275 |
Relationship_with_Bayview_Lend1
Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' | ' |
Minority interest in Bayview Lending Group LLC | 20.00% | ' | ' |
Carrying value of minority interest investment in Bayview Lending Group LLC | $74,000,000 | ' | $115,000,000 |
Total other-than-temporary impairment ("OTTI") losses | 0 | 0 | 79,000,000 |
Outstanding principal balances of mortgage servicing rights obtained from Bayview Financial | 5,500,000,000 | 6,500,000,000 | ' |
Revenues from servicing rights | 31,000,000 | 35,000,000 | 41,000,000 |
Collateralized mortgage obligations in available-for-sale investment securities portfolio securitized by Bayview Financial | 2,000,000 | 11,000,000 | ' |
Investment securities in held-to-maturity portfolio securitized by Bayview Financial | 220,000,000 | 242,000,000 | ' |
Bayview Financial [Member] | ' | ' | ' |
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' | ' |
Outstanding principal balances of residential mortgage loans from Bayview Financial | 45,600,000,000 | 11,400,000,000 | ' |
Revenues earned for sub-servicing loans | $33,000,000 | $10,000,000 | $477,000 |
Recovered_Sheet11
Parent Company Financial Statements - Condensed Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Investments in consolidated subsidiaries | ' | ' | ' | ' |
Investment in Bayview Lending Group LLC | $74,000 | ' | $115,000 | ' |
Other assets | 5,282,212 | 4,448,779 | ' | ' |
Total assets | 85,162,391 | 83,008,803 | ' | ' |
Liabilities | ' | ' | ' | ' |
Accrued expenses and other liabilities | 1,368,922 | 1,512,717 | ' | ' |
Long-term borrowings | 5,108,870 | 4,607,758 | ' | ' |
Total liabilities | 73,856,859 | 72,806,210 | ' | ' |
Shareholders' equity | 11,305,532 | 10,202,593 | 9,271,209 | 8,357,695 |
Total liabilities and shareholders' equity | 85,162,391 | 83,008,803 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash in subsidiary bank | 10,729 | 4,774 | ' | ' |
Due from consolidated bank subsidiaries | ' | ' | ' | ' |
Money-market savings | 968,274 | 714,677 | ' | ' |
Current income tax receivable | 1,914 | 1,835 | ' | ' |
Other | 1,894 | ' | ' | ' |
Total due from consolidated bank subsidiaries | 972,082 | 716,512 | ' | ' |
Investments in consolidated subsidiaries | ' | ' | ' | ' |
Banks and bank holding company | 11,364,657 | 10,495,557 | ' | ' |
Other | 16,212 | 16,344 | ' | ' |
Investments in unconsolidated subsidiaries (note 19) | 33,751 | 33,916 | ' | ' |
Investment in Bayview Lending Group LLC | 73,883 | 93,489 | ' | ' |
Other assets | 80,098 | 83,975 | ' | ' |
Total assets | 12,551,412 | 11,444,567 | ' | ' |
Liabilities | ' | ' | ' | ' |
Due to consolidated bank subsidiaries | ' | 213 | ' | ' |
Accrued expenses and other liabilities | 62,817 | 60,619 | ' | ' |
Long-term borrowings | 1,183,063 | 1,181,142 | ' | ' |
Total liabilities | 1,245,880 | 1,241,974 | ' | ' |
Shareholders' equity | 11,305,532 | 10,202,593 | ' | ' |
Total liabilities and shareholders' equity | $12,551,412 | $11,444,567 | ' | ' |
Recovered_Sheet12
Parent Company Financial Statements - Condensed Statement of Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income | ' | ' | ' |
Equity in earnings of Bayview Lending Group LLC | ($16,126) | ($21,511) | ($24,231) |
Expense | ' | ' | ' |
Interest on long-term borrowings | -199,983 | -225,297 | -243,866 |
Other expense (a) | -2,635,885 | -2,509,260 | -2,478,068 |
Income tax credits | -579,069 | -523,028 | -365,121 |
Equity in undistributed income of subsidiaries | ' | ' | ' |
Net income | 1,138,480 | 1,029,498 | 859,479 |
Net income per common share | ' | ' | ' |
Basic | $8.26 | $7.57 | $6.37 |
Diluted | $8.20 | $7.54 | $6.35 |
Parent Company [Member] | ' | ' | ' |
Income | ' | ' | ' |
Dividends from consolidated bank subsidiaries | 700,000 | 700,000 | 715,000 |
Equity in earnings of Bayview Lending Group LLC | -16,126 | -21,511 | -24,231 |
Other income | 9,992 | 8,755 | 67,829 |
Total income | 693,866 | 687,244 | 758,598 |
Expense | ' | ' | ' |
Interest on long-term borrowings | 73,115 | 82,286 | 90,959 |
Other expense (a) | 15,994 | 19,226 | 87,368 |
Total expense | 89,109 | 101,512 | 178,327 |
Income before income taxes and equity in undistributed income of subsidiaries | 604,757 | 585,732 | 580,271 |
Income tax credits | 35,986 | 43,149 | 50,460 |
Income before equity in undistributed income of subsidiaries | 640,743 | 628,881 | 630,731 |
Equity in undistributed income of subsidiaries | ' | ' | ' |
Net income of subsidiaries | 1,197,737 | 1,100,617 | 943,748 |
Less: dividends received | -700,000 | -700,000 | -715,000 |
Equity in undistributed income of subsidiaries | 497,737 | 400,617 | 228,748 |
Net income | $1,138,480 | $1,029,498 | $859,479 |
Net income per common share | ' | ' | ' |
Basic | $8.26 | $7.57 | $6.37 |
Diluted | $8.20 | $7.54 | $6.35 |
Parent_Company_Financial_State2
Parent Company Financial Statements - Condensed Statement of Income (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Parent Company Only Financial Information [Line Items] | ' | ' | ' |
Asset write-downs | $17,918 | $63,790 | $170,632 |
Parent Company [Member] | ' | ' | ' |
Parent Company Only Financial Information [Line Items] | ' | ' | ' |
Asset write-downs | ' | ' | $79,012 |
Parent_Company_Financial_State3
Parent Company Financial Statements - Condensed Statement of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net income | $1,138,480 | $1,029,498 | $859,479 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' | ' |
Provision for deferred income taxes | 139,785 | 131,858 | 33,924 |
Asset write-downs | 17,918 | 63,790 | 170,632 |
Net cash provided by operating activities | 932,324 | 499,981 | 1,772,246 |
Cash flows from investing activities | ' | ' | ' |
Other, net | 95,706 | 32,458 | 144,668 |
Net cash provided (used) by investing activities | -2,203,578 | -4,060,858 | 368,932 |
Cash flows from financing activities | ' | ' | ' |
Payments on long-term borrowings | -261,212 | -2,080,167 | -1,809,984 |
Dividends paid - common | -365,349 | -357,717 | -350,129 |
Dividends paid - preferred | -53,450 | -53,450 | -48,203 |
Proceeds from issuance of preferred stock | ' | ' | 495,000 |
Redemption of preferred stock | ' | ' | -370,000 |
Other, net | 137,967 | 63,616 | 31,177 |
Net cash provided (used) by financing activities | 957,573 | 4,095,095 | -1,622,536 |
Net increase in cash and cash equivalents | -313,681 | 534,218 | 518,642 |
Cash and cash equivalents at beginning of year | 1,986,615 | 1,452,397 | 933,755 |
Cash and cash equivalents at end of year | 1,672,934 | 1,986,615 | 1,452,397 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Interest paid during the year | 301,734 | 371,887 | 440,810 |
Income taxes received during the year | 389,008 | 405,598 | 251,810 |
Parent Company [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net income | 1,138,480 | 1,029,498 | 859,479 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' | ' |
Equity in undistributed income of subsidiaries | -497,737 | -400,617 | -228,748 |
Provision for deferred income taxes | 1,535 | 1,724 | -10,349 |
Asset write-downs | ' | ' | 79,012 |
Net change in accrued income and expense | 31,979 | 6,798 | 44,336 |
Net cash provided by operating activities | 674,257 | 637,403 | 743,730 |
Cash flows from investing activities | ' | ' | ' |
Proceeds from sales of investment securities | ' | 411 | 1,987 |
Proceeds from maturities of investment securities | ' | ' | 4,400 |
Investment in subsidiary | -140,000 | ' | ' |
Purchase of Wilmington Trust Corporation preferred stock | ' | ' | -330,000 |
Other, net | 3,295 | 324 | 2,833 |
Net cash provided (used) by investing activities | -136,705 | 735 | -320,780 |
Cash flows from financing activities | ' | ' | ' |
Payments on long-term borrowings | ' | -300,000 | ' |
Dividends paid - common | -365,349 | -357,717 | -350,129 |
Dividends paid - preferred | -53,450 | -53,450 | -48,203 |
Proceeds from issuance of preferred stock | ' | ' | 495,000 |
Redemption of preferred stock | ' | ' | -370,000 |
Other, net | 140,799 | 143,352 | 16,386 |
Net cash provided (used) by financing activities | -278,000 | -567,815 | -256,946 |
Net increase in cash and cash equivalents | 259,552 | 70,323 | 166,004 |
Cash and cash equivalents at beginning of year | 719,451 | 649,128 | 483,124 |
Cash and cash equivalents at end of year | 979,003 | 719,451 | 649,128 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Interest received during the year | 2,224 | 1,970 | 2,082 |
Interest paid during the year | 71,090 | 80,090 | 87,184 |
Income taxes received during the year | $45,237 | $21,878 | $57,964 |