Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 18, 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 | 'FNB | ' | ' |
Entity Registrant Name | 'FNB CORP/FL/ | ' | ' |
Entity Central Index Key | '0000037808 | ' | ' |
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 | ' | 165,681,400 | ' |
Entity Public Float | ' | ' | $1,663,448,797 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $197,534 | $216,233 |
Interest bearing deposits with banks | 16,447 | 22,811 |
Cash and Cash Equivalents | 213,981 | 239,044 |
Securities available for sale | 1,141,650 | 1,172,683 |
Securities held to maturity (fair value of $1,189,563 and $1,143,213) | 1,199,169 | 1,106,563 |
Residential mortgage loans held for sale | 7,138 | 27,751 |
Loans, net of unearned income of $55,051 and $51,661 | 9,506,094 | 8,137,719 |
Allowance for loan losses | -110,784 | -104,374 |
Net Loans | 9,395,310 | 8,033,345 |
Premises and equipment, net | 154,032 | 140,367 |
Goodwill | 764,248 | 675,555 |
Core deposit and other intangible assets, net | 47,608 | 37,851 |
Bank owned life insurance | 289,402 | 246,088 |
Other assets | 350,867 | 344,729 |
Total Assets | 13,563,405 | 12,023,976 |
Liabilities | ' | ' |
Non-interest bearing demand | 2,200,081 | 1,738,195 |
Savings and NOW | 5,392,078 | 4,808,121 |
Certificates and other time deposits | 2,606,073 | 2,535,858 |
Total Deposits | 10,198,232 | 9,082,174 |
Other liabilities | 130,418 | 163,151 |
Short-term borrowings | 1,241,239 | 1,083,138 |
Long-term debt | 143,928 | 89,425 |
Junior subordinated debt | 75,205 | 204,019 |
Total Liabilities | 11,789,022 | 10,621,907 |
Stockholders' Equity | ' | ' |
Preferred stock - $0.01 par value Authorized - 20,000,000 shares Issued - 110,877 and 0 shares | 106,882 | ' |
Common stock - $0.01 par value Authorized - 500,000,000 shares Issued - 159,624,796 and 140,314,846 shares | 1,592 | 1,398 |
Additional paid-in capital | 1,608,117 | 1,376,601 |
Retained earnings | 121,870 | 75,312 |
Accumulated other comprehensive loss | -56,924 | -46,224 |
Treasury stock - 657,585 and 385,604 shares at cost | -7,154 | -5,018 |
Total Stockholders' Equity | 1,774,383 | 1,402,069 |
Total Liabilities and Stockholders' Equity | $13,563,405 | $12,023,976 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Securities held to maturity, fair value | $1,189,563 | $1,143,213 |
Unearned income on loans | $55,051 | $51,661 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 110,877 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 159,624,796 | 140,314,846 |
Treasury stock, shares | 657,585 | 385,604 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Income | ' | ' | ' |
Loans, including fees | $390,983 | $377,802 | $341,268 |
Securities: | ' | ' | ' |
Taxable | 43,504 | 46,839 | 41,956 |
Nontaxable | 5,667 | 6,680 | 7,469 |
Dividends | 103 | 375 | 157 |
Other | 129 | 210 | 275 |
Total Interest Income | 440,386 | 431,906 | 391,125 |
Interest Expense | ' | ' | ' |
Deposits | 29,441 | 42,513 | 53,535 |
Short-term borrowings | 4,423 | 5,162 | 6,711 |
Long-term debt | 3,115 | 3,492 | 6,403 |
Junior subordinated debt | 7,365 | 7,888 | 7,968 |
Total Interest Expense | 44,344 | 59,055 | 74,617 |
Net Interest Income | 396,042 | 372,851 | 316,508 |
Provision for loan losses | 31,090 | 31,302 | 33,641 |
Net Interest Income After Provision for Loan Losses | 364,952 | 341,549 | 282,867 |
Non-Interest Income | ' | ' | ' |
Impairment losses on securities | -27 | -626 | -895 |
Non-credit related losses on securities not expected to be sold (recognized in other comprehensive income) | ' | 414 | 829 |
Net impairment losses on securities | -27 | -212 | -66 |
Service charges | 68,221 | 69,546 | 61,358 |
Trust | 16,751 | 15,239 | 14,782 |
Insurance commissions and fees | 16,598 | 16,426 | 15,185 |
Securities commissions and fees | 11,286 | 8,395 | 7,562 |
Bank owned life insurance | 6,874 | 6,485 | 5,191 |
Mortgage banking | 3,452 | 4,153 | 3,101 |
Gain on sale of securities | 808 | 305 | 3,652 |
Other | 11,815 | 10,915 | 8,965 |
Total Non-Interest Income | 135,778 | 131,252 | 119,730 |
Non-Interest Expense | ' | ' | ' |
Salaries and employee benefits | 179,971 | 168,219 | 149,817 |
Net occupancy | 26,474 | 24,578 | 21,805 |
Equipment | 25,214 | 22,320 | 19,033 |
Amortization of intangibles | 8,407 | 8,924 | 7,040 |
Outside services | 30,257 | 28,038 | 21,840 |
FDIC insurance | 10,192 | 8,077 | 8,025 |
Supplies | 6,887 | 6,441 | 4,938 |
State taxes | 4,256 | 6,162 | 6,975 |
Telephone | 5,063 | 5,697 | 4,957 |
Advertising and promotional | 6,349 | 4,991 | 6,375 |
Loan related | 3,945 | 3,363 | 5,353 |
Other real estate owned | 3,215 | 3,268 | 5,218 |
Merger related | 8,210 | 7,394 | 4,982 |
Other | 19,730 | 21,146 | 17,188 |
Total Non-Interest Expense | 338,170 | 318,618 | 283,546 |
Income Before Income Taxes | 162,560 | 154,183 | 119,051 |
Income taxes | 44,756 | 43,773 | 32,004 |
Net Income | 117,804 | 110,410 | 87,047 |
Preferred stock dividends | ' | ' | ' |
Net Income Available to Common Stockholders | $117,804 | $110,410 | $87,047 |
Net Income per Common Share | ' | ' | ' |
Basic | $0.81 | $0.79 | $0.70 |
Diluted | $0.80 | $0.79 | $0.70 |
Cash Dividends Paid per Common Share | $0.48 | $0.48 | $0.48 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $117,804 | $110,410 | $87,047 |
Unrealized (losses) gains on securities: | ' | ' | ' |
Arising during the period, net of tax (benefit) expense of $(10,121), $2,760 and $1,467 | -18,796 | 5,125 | 2,725 |
Less: reclassification adjustment for gains included in net income, net of tax expense of $269, $216 and $1,257 | -500 | -400 | -2,334 |
Unrealized losses on derivative instruments, net of tax benefit of $3,454 and $92 | -6,415 | -171 | ' |
Unrealized gains (losses) associated with pension and postretirement benefits, net of tax expense (benefit) of $8,083, $(3,031) and $(6,358) | 15,011 | -5,630 | -11,807 |
Other comprehensive loss | -10,700 | -1,076 | -11,416 |
Comprehensive income | $107,104 | $109,334 | $75,631 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Unrealized gains (losses) on securities, Arising during the period tax expense | ($10,121) | $2,760 | $1,467 |
Unrealized gains (losses) on securities, Reclassification adjustment for gains included in net income, tax expense | 269 | 216 | 1,257 |
Unrealized losses on derivative instruments, tax benefit | 3,454 | 92 | ' |
Unrealized losses associated with pension and post retirement benefit, tax benefit | $8,083 | ($3,031) | ($6,358) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] |
In Thousands | |||||||
Balance at Jan. 02, 2011 | $1,066,124 | ' | $1,143 | $1,094,713 | $6,564 | ($33,732) | ($2,564) |
Net income | 87,047 | ' | ' | ' | 87,047 | ' | ' |
Change in other comprehensive income (loss), net of tax | -11,416 | ' | ' | ' | ' | -11,416 | ' |
Common dividends declared: $0.48/share | -60,686 | ' | ' | ' | -60,686 | ' | ' |
Issuance of common stock | 124,378 | ' | 125 | 125,107 | ' | ' | -854 |
Restricted stock compensation | 4,813 | ' | ' | 4,813 | ' | ' | ' |
Tax benefit of stock-based compensation | -61 | ' | ' | -61 | ' | ' | ' |
Balance at Dec. 31, 2011 | 1,210,199 | ' | 1,268 | 1,224,572 | 32,925 | -45,148 | -3,418 |
Net income | 110,410 | ' | ' | ' | 110,410 | ' | ' |
Change in other comprehensive income (loss), net of tax | -1,076 | ' | ' | ' | ' | -1,076 | ' |
Common dividends declared: $0.48/share | -67,646 | ' | ' | ' | -67,646 | ' | ' |
Issuance of common stock | 146,038 | ' | 130 | 147,885 | -377 | ' | -1,600 |
Restricted stock compensation | 3,758 | ' | ' | 3,758 | ' | ' | ' |
Tax benefit of stock-based compensation | 386 | ' | ' | 386 | ' | ' | ' |
Balance at Dec. 31, 2012 | 1,402,069 | ' | 1,398 | 1,376,601 | 75,312 | -46,224 | -5,018 |
Net income | 117,804 | ' | ' | ' | 117,804 | ' | ' |
Change in other comprehensive income (loss), net of tax | -10,700 | ' | ' | ' | ' | -10,700 | ' |
Common dividends declared: $0.48/share | -71,246 | ' | ' | ' | -71,246 | ' | ' |
Issuance of preferred stock | 106,882 | 106,882 | ' | ' | ' | ' | ' |
Issuance of common stock | 223,006 | ' | 194 | 224,948 | ' | ' | -2,136 |
Restricted stock compensation | 5,242 | ' | ' | 5,242 | ' | ' | ' |
Tax benefit of stock-based compensation | 1,326 | ' | ' | 1,326 | ' | ' | ' |
Balance at Dec. 31, 2013 | $1,774,383 | $106,882 | $1,592 | $1,608,117 | $121,870 | ($56,924) | ($7,154) |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statement Of Stockholders Equity [Abstract] | ' | ' | ' |
Common stock dividends per share | $0.48 | $0.48 | $0.48 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities | ' | ' | ' |
Net income | $117,804 | $110,410 | $87,047 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' | ' |
Depreciation, amortization and accretion | 70,759 | 31,827 | 22,427 |
Provision for loan losses | 31,090 | 31,302 | 33,641 |
Deferred tax expenses | 15,291 | 29,251 | 7,063 |
Net securities gains | -808 | -305 | -3,652 |
Other-than-temporary impairment losses on securities | 27 | 212 | 66 |
Tax (benefit) expense of stock-based compensation | -1,326 | -386 | 61 |
Loans originated for sale | -219,324 | -255,064 | -166,104 |
Loans sold | 243,782 | 245,474 | 167,298 |
Gain on sale of loans | -3,845 | -3,887 | -2,768 |
Net change in: | ' | ' | ' |
Interest receivable | -1,675 | -1,569 | 1,416 |
Interest payable | -2,173 | -3,925 | -1,602 |
Trading securities | 125,800 | 331,972 | 110,490 |
Bank owned life insurance | -3,598 | -6,130 | -842 |
Other, net | 14,280 | 34,848 | 34,989 |
Net cash flows provided by operating activities | 386,084 | 544,030 | 289,530 |
Investing Activities | ' | ' | ' |
Net increase in loans | -683,559 | -409,590 | -412,462 |
Securities available for sale: | ' | ' | ' |
Purchases | -375,222 | -924,747 | -429,831 |
Sales | 22,047 | 87,101 | 101,973 |
Maturities | 345,528 | 450,064 | 431,219 |
Securities held to maturity: | ' | ' | ' |
Purchases | -373,136 | -526,252 | -243,461 |
Sales | 17,428 | 2,903 | ' |
Maturities | 285,765 | 340,401 | 262,307 |
Purchase of bank owned life insurance | -10,016 | -25,032 | -34 |
Withdrawal/surrender of bank owned life insurance | ' | 20,891 | ' |
Increase in premises and equipment | -14,882 | -12,780 | -17,115 |
Net cash received in business combinations | 141,637 | 203,538 | 23,374 |
Net cash flows used in investing activities | -644,410 | -793,503 | -284,030 |
Financing Activities | ' | ' | ' |
Non-interest bearing deposits, savings, and NOW accounts | 458,153 | 614,100 | 298,833 |
Time deposits | -312,242 | -337,822 | -196,520 |
Short-term borrowings | 143,703 | 218,904 | 72,580 |
Increase in long-term debt | 92,583 | 40,315 | 52,827 |
Decrease in long-term debt | -113,967 | -197,568 | -166,144 |
Decrease in junior subordinated debt | -134,021 | ' | ' |
Net proceeds from issuance of preferred stock | 106,882 | ' | ' |
Net proceeds from issuance of common stock | 62,092 | 8,895 | 71,053 |
Tax benefit (expense) of stock-based compensation | 1,326 | 386 | -61 |
Cash dividends paid | -71,246 | -67,646 | -60,686 |
Net cash flows (used in) provided by financing activities | 233,263 | 279,564 | 71,882 |
Net Increase (Decrease) in Cash and Cash Equivalents | -25,063 | 30,091 | 77,382 |
Cash and cash equivalents at beginning of year | 239,044 | 208,953 | 131,571 |
Cash and Cash Equivalents at End of Year | $213,981 | $239,044 | $208,953 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Summary of Significant Accounting Policies | ' | |||
1. Summary of Significant Accounting Policies | ||||
Basis of Presentation | ||||
The Corporation’s accompanying consolidated financial statements and these notes to the financial statements include subsidiaries in which the Corporation has a controlling financial interest. The Corporation owns and operates FNBPA, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, Regency, F.N.B. Capital Corporation, LLC and Bank Capital Services, LLC, and includes results for each of these entities in the accompanying consolidated financial statements. | ||||
The accompanying consolidated financial statements include all adjustments that are necessary, in the opinion of management, to fairly reflect the Corporation’s financial position and results of operations in accordance with U.S. generally accepted accounting principles (GAAP). All significant intercompany balances and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to the current period presentation. Events occurring subsequent to the date of the balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). | ||||
Use of Estimates | ||||
The accounting and reporting policies of the Corporation conform with GAAP. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Material estimates that are particularly susceptible to significant changes include the allowance for loan losses, securities valuations, goodwill and other intangible assets and income taxes. | ||||
Business Combinations | ||||
Business combinations are accounted for by applying the acquisition method in accordance with Accounting Standards Codification (ASC) 805, Business Combinations. Under the acquisition method, identifiable assets acquired and liabilities assumed, and any non-controlling interest in the acquiree at the acquisition date are measured at their fair values as of that date, and are recognized separately from goodwill. Results of operations of the acquired entities are included in the consolidated statement of income from the date of acquisition. | ||||
Cash Equivalents | ||||
The Corporation considers cash and demand balances due from banks as cash and cash equivalents. | ||||
Securities | ||||
Investment securities, which consist of debt securities and certain equity securities, comprise a significant portion of the Corporation’s consolidated balance sheet. Such securities can be classified as “trading,” “securities held to maturity” or “securities available for sale.” | ||||
Securities are classified as trading securities when management intends to sell such securities in the near term and are carried at fair value, with unrealized gains (losses) reflected through the consolidated statement of income. The Corporation acquired securities in conjunction with acquisitions during 2013 and 2012 that the Corporation classified as trading securities. The Corporation both acquired and sold these trading securities during the quarters in which each of the acquisitions occurred. As of December 31, 2013 and 2012, the Corporation did not hold any trading securities. | ||||
Securities held to maturity are comprised of debt securities, for which management has the positive intent and ability to hold such securities until their maturity. Such securities are carried at cost, adjusted for related amortization of premiums and accretion of discounts through interest income from securities, and other-than-temporary impairment (OTTI), if any. | ||||
Securities that are not classified as trading or held to maturity are classified as available for sale. The Corporation’s available for sale securities portfolio is comprised of debt securities and marketable equity securities. Such securities are carried at fair value with net unrealized gains and losses deemed to be temporary and unrealized losses deemed to be other-than-temporary and attributable to non-credit factors reported separately as a component of other comprehensive income, net of tax. Realized gains and losses on the sale of available for sale securities and credit-related OTTI charges are recorded within non-interest income in the consolidated statement of income. Realized gains and losses on the sale of securities are determined using the specific-identification method. | ||||
The Corporation evaluates its investment securities portfolio for OTTI on a quarterly basis. Impairment is assessed at the individual security level. The Corporation considers an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. | ||||
When impairment of an equity security is considered to be other-than-temporary, the security is written down to its fair value and an impairment loss is recorded as a loss within non-interest income in the consolidated statement of income. When impairment of a debt security is considered to be other-than-temporary, the amount of the OTTI recorded as a loss within non-interest income and thereby recognized in earnings depends on whether the Corporation intends to sell the security or whether it is more likely than not that the Corporation will be required to sell the security before recovery of its amortized cost basis. | ||||
If the Corporation 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, OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value. | ||||
If the Corporation does not intend to sell the debt security and it is not more likely than not the Corporation will be required to sell the security before recovery of its amortized cost basis, OTTI shall be separated into the amount representing credit loss and the amount related to all other market factors. The amount related to credit loss shall be recognized in earnings. The amount related to other market factors shall be recognized in other comprehensive income, net of applicable taxes. | ||||
The Corporation performs its OTTI evaluation process in a consistent and systematic manner and includes an evaluation of all available evidence. Documentation of the process is as extensive as necessary to support a conclusion as to whether a decline in fair value below cost or amortized cost is temporary or other-than-temporary and includes documentation supporting both observable and unobservable inputs and a rationale for conclusions reached. In making these determinations for pooled trust preferred securities (TPS), the Corporation consults with third-party advisory firms to provide additional valuation assistance. | ||||
This process considers factors such as the severity, length of time and anticipated recovery period of the impairment, recoveries or additional declines in fair value subsequent to the balance sheet date, recent events specific to the issuer, including investment downgrades by rating agencies and economic conditions in its industry, and the issuer’s financial condition, repayment capacity, capital strength and near-term prospects. | ||||
For debt securities, the Corporation also considers the payment structure of the debt security, the likelihood of the issuer being able to make future payments, failure of the issuer of the security to make scheduled interest and principal payments, whether the Corporation has made a decision to sell the security and whether the Corporation’s cash or working capital requirements or contractual or regulatory obligations indicate that the debt security will be required to be sold before a forecasted recovery occurs. For equity securities, the Corporation also considers its intent and ability to retain the security for a period of time sufficient to allow for a recovery in fair value. Among the factors that the Corporation considers in determining its intent and ability to retain the security is a review of its capital adequacy, interest rate risk position and liquidity. The assessment of a security’s ability to recover any decline in fair value, the ability of the issuer to meet contractual obligations, the Corporation’s intent and ability to retain the security, and whether it is more likely than not the Corporation will be required to sell the security before recovery of its amortized cost basis require considerable judgment. | ||||
Debt securities with credit ratings below AA at the time of purchase that are repayment-sensitive securities are evaluated using the guidance of ASC 325, Investments – Other. All other securities are required to be evaluated under ASC 320, Investments – Debt Securities. | ||||
Securities Sold Under Agreements to Repurchase | ||||
Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be sold or repledged by the secured party. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to the Corporation as deemed appropriate. | ||||
Derivative Instruments and Hedging Activities | ||||
From time to time, the Corporation may enter into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. The Corporation formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking each hedge transaction. All derivative instruments are carried at fair value on the balance sheet in accordance with the requirements of ASC 815, Derivatives and Hedging. | ||||
Cash flow hedges are accounted for by recording the fair value of the derivative instrument on the balance sheet as either a freestanding asset or liability, with a corresponding offset recorded in accumulated other comprehensive income, net of tax. Amounts are reclassified from accumulated other comprehensive income to the consolidated statement of income in the period or periods in which the hedged transaction affects earnings. | ||||
Derivative gains and losses under cash flow hedges not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the consolidated statement of income. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instruments have been highly effective in offsetting changes in fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. | ||||
In addition, the Corporation enters into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. The Corporation then enters into positions with a derivative counterparty in order to offset its exposure on the fixed components of the customer agreements. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. The Corporation seeks to minimize counterparty credit risk by entering into transactions with only high-quality institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815,Derivatives and Hedging. The interest rate swap agreement with the loan customer and with the counterparty is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period earnings as other income. | ||||
Mortgage Loans Held for Sale and Loan Commitments | ||||
Certain residential mortgage loans are originated for sale in the secondary mortgage loan market and typically sold with servicing rights released. These loans are classified as loans held for sale and are carried at the lower of cost or estimated market value on an aggregate basis. Market value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Loans are generally sold at a premium or discount from the carrying amount of the loan. Such premium or discount is recognized at the date of sale. Gain or loss on the sale of loans is recorded in non-interest income at the time consideration is received and all other criteria for sales treatment have been met. | ||||
The Corporation routinely issues commitments to make loans that it intends to sell. These commitments are considered derivatives. The Corporation also enters into commitments to sell loans to mitigate the risk that the market value of residential loans may decline between the time the rate commitment is issued to the customer and the time the Corporation contracts to sell the loan. These commitments and sales contracts are also derivatives. Both types of derivatives are recorded at fair value. Sales contracts and commitments to sell loans are not designated as hedges of the fair value of loans held for sale. Fair value adjustments related to derivatives are recorded in current period earnings as part of mortgage banking income. | ||||
Loans (Excluding Acquired Loans) | ||||
Loans the Corporation originates and intends to hold for the foreseeable future or until maturity or payoff are reported at their net book balances, net of any deferred origination fees or costs. Interest income on loans is computed over the term of the loans using the effective interest method. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. | ||||
Non-performing Loans | ||||
Interest is not accrued on loans where collectibility is uncertain. The Corporation discontinues interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days. Past due status is based on the contractual terms of the loan. | ||||
When a loan is placed on non-accrual status, all unpaid interest is reversed. Payments subsequently received are generally applied to either principal or interest or both, depending on management’s evaluation of collectibility. A loan is returned to accrual status when principal and interest are no longer past due and collectibility is probable. This generally requires a sustained period of timely principal and interest payments. | ||||
Loans are generally written off when deemed uncollectible or when they reach a predetermined number of days past due depending upon loan product, terms, and other factors. Recoveries of amounts previously charged off are credited to the allowance for loan losses. | ||||
The Corporation considers a loan impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The impairment loss is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral, less estimated selling costs, if the loan is collateral dependent. Acquired impaired loans are not classified as non-performing assets as the loans are considered to be performing under the provisions of ASC 310-30,Loans and Debt Securities Acquired with Deteriorated Credit Quality. | ||||
Restructured loans are those in which concessions of terms have been made as a result of deterioration in a borrower’s financial condition. In general, the modification or restructuring of a debt constitutes a troubled debt restructuring (TDR) if the Corporation for economic or legal reasons related to the borrower’s financial difficulties grants a concession to the borrower that the Corporation would not otherwise consider under current market conditions. Debt restructurings or loan modifications for a borrower occur during the normal course of business and do not necessarily constitute TDRs. To designate a loan as a TDR, the presence of both borrower financial distress and a concession of terms must exist. Additionally, a loan designated as a TDR does not necessarily result in the automatic placement of the loan on non-accrual status. When the full collection of principal and interest is reasonably assured on a loan designated as a TDR and the borrower does not otherwise meet the criteria for non-accrual status, the Corporation will continue to accrue interest on the loan. | ||||
In accordance with ASC 310-40, a restructured acquired loan that is accounted for as a component of a pool in accordance with ASC 310-30 is not considered a TDR. | ||||
Allowance for Loan Losses | ||||
The allowance for loan losses is established as losses are estimated to have occurred through a provision charged to earnings. Loan losses are charged against the allowance for loan losses when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for loan losses. Allowances for impaired loans are generally determined based on collateral values or the present value of estimated cash flows. Changes in the allowance for loan losses related to impaired loans are charged or credited to the provision for loan losses. | ||||
The allowance for loan losses is maintained at a level that, in management’s judgment, is believed adequate to absorb probable losses associated with specifically identified loans, as well as estimated probable credit losses inherent in the remainder of the loan portfolio. Adequacy of the allowance for loan losses is based on management’s evaluation of potential loan losses in the loan portfolio, which includes an assessment of past experience, current economic conditions in specific industries and geographic areas, general economic conditions, known and inherent risks in the loan portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the loan portfolio. Determination of the allowance for loan losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience and consideration of current environmental factors and economic trends, all of which are susceptible to significant change. | ||||
Credit impaired loans obtained through acquisitions are accounted for under the provisions of ASC 310-30. The Corporation also accounts for certain acquired loans considered performing at the time of acquisition by analogy to ASC 310-30. ASC 310-30 requires the initial recognition of acquired loans at the present value of amounts expected to be received. Any deterioration in the credit quality of acquired loans subsequent to acquisition would be considered in the allowance for loan losses. | ||||
Acquired Loans | ||||
Acquired loans (impaired and non-impaired) are initially recorded at their acquisition-date fair values. Fair values are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, default rates, loss severity, collateral values, discount rates, payment speeds, prepayment risk, and liquidity risk. | ||||
The carryover of allowance for loan losses related to acquired loans is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. The allowance for loan losses on acquired loans reflects only those losses incurred after acquisition and represents the present value of cash flows expected at acquisition that is no longer expected to be collected. | ||||
At acquisition, the Corporation considers the following factors as indicators that an acquired loan has evidence of deterioration in credit quality and is therefore impaired and in the scope of ASC 310-30: | ||||
• | loans that were 90 days or more past due; | |||
• | loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well-defined weakness that jeopardizes liquidation of the loan; | |||
• | loans that were classified as non-accrual by the acquired bank at the time of acquisition; or | |||
• | loans that had been previously modified in a TDR. | |||
Any acquired loans that were not individually in the scope of ASC 310-30 because they didn’t meet the criteria above were pooled into groups of similar loans based on various factors including borrower type, loan purpose, and collateral type. For these pools, the Corporation used certain loan information, including outstanding principal balance, estimated expected losses, weighted average maturity, weighted average margin, and weighted average interest rate along with estimated prepayment rates, probability of default and loss given default to estimate the expected cash flow for each loan pool. | ||||
Pursuant to an American Institute of CPAs (AICPA) letter dated December 18, 2009, the AICPA summarized the SEC staff’s view regarding accounting in subsequent periods for discount accretion associated with acquired loan receivables that are not required to be accounted for in accordance with ASC 310-30. The AICPA understands that, in the absence of further standard setting, the SEC staff would not object to an accounting policy based on contractual cash flows (ASC 310-20 approach) or an accounting policy based on expected cash flows (ASC 310-30 approach). The Corporation believes analogizing to ASC 310-30 is the more appropriate option to follow in accounting for discount accretion on non-impaired acquired loans other than revolving loans and therefore accounts for such loans in accordance with ASC 310-30. ASC 310-30 guidance does not apply to revolving loans. Consequently, discount accretion on revolving loans acquired is accounted for using the ASC 310-20 approach. | ||||
The excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield. The accretable yield is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion model). If the timing and/or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition must be used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected at acquisition is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which the Corporation does not expect to collect. | ||||
Over the life of the acquired loan, the Corporation continues to estimate cash flows expected to be collected. Decreases in expected cash flows, other than from prepayments or rate adjustments, are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized on a prospective basis over the loan’s remaining life. | ||||
Acquired loans that met the criteria for non-accrual of interest prior to acquisition are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion model. | ||||
Premises and Equipment | ||||
Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the asset’s estimated useful life. Leasehold improvements are expensed over the lesser of the asset’s estimated useful life or the term of the lease including renewal periods when reasonably assured. Useful lives are dependent upon the nature and condition of the asset and range from 3 to 40 years. Maintenance and repairs are charged to expense as incurred, while major improvements are capitalized and amortized to operating expense over the identified useful life. | ||||
Other Real Estate Owned | ||||
Other real estate owned (OREO) is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in other assets initially at the lower of estimated fair value of the asset less estimated selling costs or the carrying amount of the loan. Changes to the value subsequent to transfer are recorded in non-interest expense along with direct operating expenses. Gains or losses not previously recognized resulting from sales of OREO are recognized in non-interest expense on the date of sale. | ||||
Goodwill and Other Intangible Assets | ||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. Intangible assets that have finite lives, such as core deposit intangibles, customer relationship intangibles and renewal lists, are amortized over their estimated useful lives and subject to periodic impairment testing. Core deposit intangibles are primarily amortized over ten years using straight line and accelerated methods. Customer and renewal lists and other intangible assets are amortized over their estimated useful lives which range from ten to twelve years. | ||||
Goodwill and other intangibles are subject to impairment testing at the reporting unit level, which must be conducted at least annually. The Corporation performs impairment testing during the fourth quarter of each year. Due to ongoing uncertainty regarding market conditions surrounding the banking industry, the Corporation continues to monitor goodwill and other intangibles for impairment and to evaluate carrying amounts, as necessary. | ||||
The Corporation performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing updated qualitative factors, the Corporation determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, it does not have to perform the two-step goodwill impairment test. Determining the fair value of a reporting unit under the first step of the goodwill impairment test and determining the fair value of individual assets and liabilities of a reporting unit under the second step of the goodwill impairment test are judgmental and often involve the use of significant estimates and assumptions. Similarly, estimates and assumptions are used in determining the fair value of other intangible assets. Estimates of fair value are primarily determined using discounted cash flows, market comparisons and recent transactions. These approaches use significant estimates and assumptions including projected future cash flows, discount rates reflecting the market rate of return, projected growth rates and determination and evaluation of appropriate market comparables. Based on the results of quantitative assessments of all reporting units, the Corporation concluded that no impairment existed at December 31, 2013. However, future events could cause the Corporation to conclude that goodwill or other intangibles have become impaired, which would result in recording an impairment loss. Any resulting impairment loss could have a material adverse impact on the Corporation’s financial condition and results of operations. | ||||
Income Taxes | ||||
The Corporation files a consolidated federal income tax return. The provision for federal and state income taxes is based on income reported on the consolidated financial statements, rather than the amounts reported on the respective income tax returns. Deferred tax assets and liabilities are computed using tax rates expected to apply to taxable income in the years in which those assets and liabilities are expected to be realized. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized as income or expense in the period that the change in tax rates is enacted. | ||||
The Corporation makes certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments are applied in the calculation of certain tax credits and in the calculation of the deferred income tax expense or benefit associated with certain deferred tax assets and liabilities. Significant changes to these estimates may result in an increase or decrease to the Corporation’s tax provision in a subsequent period. The Corporation recognizes interest and/or penalties related to income tax matters in income tax expense. | ||||
The Corporation assesses the likelihood that it will be able to recover its deferred tax assets. If recovery is not likely, the Corporation will increase its provision for income taxes by recording a valuation allowance against the deferred tax assets that are unlikely to be recovered. The Corporation believes that it will ultimately recover a substantial majority of the deferred tax assets recorded on the balance sheet. However, should there be a change in the Corporation’s ability to recover its deferred tax assets, the effect of this change would be recorded through the provision for income taxes in the period during which such change occurs. | ||||
The Corporation periodically reviews the tax positions it takes on its tax return and applies a more likely than not recognition threshold for all tax positions that are uncertain. The amount recognized in the financial statements is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. | ||||
Advertising and Promotional Costs | ||||
Advertising and promotional costs are generally expensed as incurred. | ||||
Per Share Amounts | ||||
Earnings per common share is computed using net income available to common stockholders, which is net income adjusted for preferred stock dividends. | ||||
Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding net of unvested shares of restricted stock. | ||||
Diluted earnings per common share is calculated by dividing net income available to common stockholders adjusted for interest expense on convertible debt by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options, warrants and restricted shares, as calculated using the treasury stock method. Adjustments to net income available to common stockholders and the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. | ||||
Pension Plans | ||||
The Corporation sponsors pension plans for its employees. The expense associated with the plans is calculated in accordance with ASC 715, Compensation – Retirement Benefits. The plans utilize assumptions and methods determined in accordance with ASC 715, including reflecting trust assets at their fair value for the qualified pension plans and recognizing the overfunded and underfunded status of the plans on its consolidated balance sheet. Gains and losses, prior service costs and credits are recognized in accumulated other comprehensive income, net of tax, until they are amortized, or immediately upon curtailment. | ||||
Stock Based Compensation | ||||
The Corporation accounts for its stock based compensation awards in accordance with ASC 718, Compensation – Stock Compensation, which requires the measurement and recognition of compensation expense, based on estimated fair values, for all share-based awards, including stock options and restricted stock, made to employees and directors. | ||||
ASC 718 requires companies to estimate the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Corporation’s consolidated statement of income over the shorter of requisite service periods or the period through the date that the employee first becomes eligible to retire. Because share-based compensation expense is based on awards that are ultimately expected to vest, share-based compensation expense has been reduced to account for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
New_Accounting_Standards
New Accounting Standards | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
New Accounting Standards | ' |
2. New Accounting Standards | |
Troubled Debt Restructurings | |
In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, to clarify when an in-substance repossession or foreclosure occurs; that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and OREO recognized. This update requires a creditor to reclassify a collateralized consumer mortgage loan to OREO upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying all interest in the real estate property to the lender to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. The requirements of ASU 2014-04 are effective for reporting periods beginning after December 15, 2014. The adoption of this update is not expected to have a material effect on the financial statements, results of operations or liquidity of the Corporation. | |
Investments in Qualified Affordable Housing Projects | |
In January 2014, the FASB issued ASU No. 2014-01, Accounting for Investments in Qualified Affordable Housing Projects, to revise the accounting for investments in qualified affordable housing projects. This update modifies the conditions that must be met to present the pretax effects and related tax benefits of such investments as a component of income taxes (“net” within income tax expense). It is expected that the new guidance will enable more investors to use a “net” presentation for investments in qualified affordable housing projects. Investors that do not qualify for “net” presentation under the new guidance will continue to account for such investments under the equity method or cost method, which results in losses recognized in pretax income and tax benefits recognized in income taxes (“gross” presentation of investment results). For investments that qualify for the “net” presentation of investment performance, the guidance introduces a “proportional amortization method” that can be elected to amortize the investment basis. If elected, the method is required for all eligible investments in qualified affordable housing projects. The requirements of ASU 2014-01 are effective for reporting periods beginning after December 15, 2014, with early adoption permitted. The adoption of this update is not expected to have a material effect on the financial statements, results of operations or liquidity of the Corporation. | |
Income Taxes | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, to provide guidance on the financial statement presentation of certain unrecognized tax benefits. An unrecognized tax benefit or a portion of an unrecognized tax benefit should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward with certain exceptions related to availability. The requirements of ASU 2013-11 are effective prospectively for reporting periods beginning after December 15, 2013, with early adoption permitted. The adoption of this update is not expected to have a material effect on the financial statements, results of operations or liquidity of the Corporation. | |
Derivatives and Hedging | |
In July 2013, the FASB issued ASU No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes, which establishes the Fed Funds Effective Swap Rate as an acceptable U.S. benchmark interest rate, in addition to the U.S. Department of the Treasury (UST) and the London Interbank Offered Rate (LIBOR) swap rates, to provide risk managers with a more comprehensive spectrum of interest rate resets to utilize as the designated benchmark interest rate risk component under the hedge accounting guidance. The requirements of ASU 2013-10 were effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this update did not have a material effect on the financial statements, results of operations or liquidity of the Corporation. | |
Comprehensive Income | |
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, that requires an entity to report the effects of significant reclassifications out of each component of accumulated other comprehensive income on the respective line item in net income if the amount being reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For amounts not required to be reclassified in their entirety in the same reporting period, an entity shall add a cross reference to the related footnote where additional information about the effect of the reclassification is disclosed. The requirements of ASU 2013-02 were effective prospectively for reporting periods beginning after December 15, 2012. The adoption of this update did not have a material effect on the financial statements, results of operations or liquidity of the Corporation. | |
Disclosures about Offsetting Assets and Liabilities | |
In January 2013, the FASB issued ASU No. 2013-01, Scope Clarification of Disclosures about Offsetting Assets and Liabilities, that clarifies the scope of its previously issued guidance, limiting the disclosure requirements to derivative instruments, repurchase agreements and reverse repurchase agreements and securities borrowing and lending transactions to the extent that they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement. The requirements of ASU 2013-01 were effective on January 1, 2013. The adoption of this update did not have a material effect on the financial statements, results of operations or liquidity of the Corporation. |
Mergers_and_Acquisitions
Mergers and Acquisitions | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Mergers and Acquisitions | ' | ||||||||||||
3. Mergers and Acquisitions | |||||||||||||
BCSB Bancorp, Inc. | |||||||||||||
On February 15, 2014, the Corporation completed its acquisition of BCSB Bancorp, Inc. (BCSB), a bank holding company based in Baltimore, Maryland. As of December 31, 2013, BCSB had $605,901 in assets, $326,258 in loans and $531,563 in deposits. The acquisition was valued at approximately $81,205 and resulted in the Corporation issuing 6,730,597 shares of its common stock in exchange for 3,235,961 shares of BCSB common stock. BCSB’s banking affiliate, Baltimore County Savings Bank, was merged into FNBPA on February 15, 2014. The Corporation will finalize its determination of the fair values of acquired assets and liabilities relating to the BCSB acquisition in 2014. | |||||||||||||
PVF Capital Corp. | |||||||||||||
On October 12, 2013, the Corporation completed its acquisition of PVF Capital Corp. (PVF), a savings and loan holding company based in Solon, Ohio. On the acquisition date, the estimated fair values of PVF included $738,486 in assets, $512,566 in loans and $627,046 in deposits. The acquisition was valued at $109,856 and resulted in the Corporation issuing 8,893,598 shares of its common stock in exchange for 26,119,398 shares of PVF common stock. The Corporation also acquired the outstanding stock options of PVF that became fully vested upon the acquisition. The assets and liabilities of PVF were recorded on the Corporation’s balance sheet at their preliminary estimated fair values as of October 12, 2013, the acquisition date, and PVF’s results of operations have been included in the Corporation’s consolidated statements of income and comprehensive income since that date. PVF’s banking affiliate, Park View Federal Savings Bank, was merged into FNBPA on October 12, 2013. Based on a preliminary purchase price allocation, the Corporation recorded $51,284 in goodwill and $6,867 in core deposit intangibles as a result of the acquisition. These fair value estimates are provisional amounts based on third party valuations that are currently under review. None of the goodwill is deductible for income tax purposes. | |||||||||||||
Annapolis Bancorp, Inc. | |||||||||||||
On April 6, 2013, the Corporation completed its acquisition of Annapolis Bancorp, Inc. (ANNB), a bank holding company based in Annapolis, Maryland. On the acquisition date, the estimated fair values of ANNB included $430,217 in assets, $256,199 in loans and $349,370 in deposits. The acquisition was valued at $56,300 and resulted in the Corporation issuing 4,641,412 shares of its common stock in exchange for 4,060,802 shares of ANNB common stock. The Corporation also acquired the outstanding stock options of ANNB that became fully vested upon the acquisition. Additionally, the Corporation paid $609, or $0.15 per share, to the holders of ANNB common stock as cash consideration due to the collection of a certain loan, as designated in the merger agreement. The assets and liabilities of ANNB were recorded on the Corporation’s balance sheet at their preliminary estimated fair values as of April 6, 2013, the acquisition date, and ANNB’s results of operations have been included in the Corporation’s consolidated statements of income and comprehensive income since that date. ANNB’s banking affiliate, BankAnnapolis, was merged into FNBPA on April 6, 2013. In conjunction with the acquisition, a warrant issued by ANNB to the UST under the Capital Purchase Program (CPP) was assumed by the Corporation and converted into a warrant to purchase up to 342,564 shares of the Corporation’s common stock. The warrant expires January 30, 2019 and has an exercise price of $3.57 per share. Based on a preliminary purchase price allocation, the Corporation has recorded $37,410 in goodwill and $3,775 in core deposit intangibles as a result of the acquisition. These fair value estimates are provisional amounts based on third party valuations that are currently under review. None of the goodwill is deductible for income tax purposes. | |||||||||||||
Parkvale Financial Corporation | |||||||||||||
On January 1, 2012, the Corporation completed its acquisition of Parkvale Financial Corporation (Parkvale), a unitary savings and loan holding company based in Monroeville, Pennsylvania. On the acquisition date, the fair values of Parkvale included $1,743,885 in assets, $919,480 in loans and $1,525,253 in deposits. The acquisition was valued at $140,900 and resulted in the Corporation issuing 12,159,312 shares of its common stock in exchange for 5,582,846 shares of Parkvale common stock. The Corporation also acquired the outstanding stock options of Parkvale that became fully vested upon the acquisition. The assets and liabilities of Parkvale were recorded on the Corporation’s balance sheet at their fair values as of January 1, 2012, the acquisition date, and Parkvale’s results of operations have been included in the Corporation’s consolidated statements of income and comprehensive income since that date. Parkvale’s banking affiliate, Parkvale Bank, was merged into FNBPA on January 1, 2012. The warrant issued by Parkvale to the UST under the CPP was assumed by the Corporation and converted into a warrant to purchase up to 819,640 shares of the Corporation’s common stock. The warrant expires December 23, 2018 and has an exercise price of $5.81. Based on the purchase price allocation, which was completed in the fourth quarter of 2012, the Corporation recorded $106,602 in goodwill and $16,033 in core deposit intangibles as a result of the acquisition. None of the goodwill is deductible for income tax purposes. | |||||||||||||
The following table summarizes the amounts recorded on the consolidated balance sheet as of each of the acquisition dates in conjunction with the Parkvale, ANNB and PVF acquisitions: | |||||||||||||
Parkvale | Annapolis | PVF | |||||||||||
Financial | Bancorp, | Capital | |||||||||||
Corporation | Inc. | Corp. | |||||||||||
Fair value of consideration paid: | |||||||||||||
Common stock issued, net of offering costs | $ | 136,441 | $ | 54,065 | $ | 109,856 | |||||||
Warrant assumed | 4,459 | 2,235 | — | ||||||||||
Total consideration paid | 140,900 | 56,300 | 109,856 | ||||||||||
Fair value of identifiable assets acquired: | |||||||||||||
Cash and cash equivalents | 203,538 | 41,986 | 99,650 | ||||||||||
Securities | 486,186 | 99,309 | 47,258 | ||||||||||
Loans | 919,480 | 256,199 | 512,566 | ||||||||||
Other intangible assets | 16,033 | 3,775 | 15,288 | ||||||||||
Accrued income and other assets | 118,648 | 28,948 | 63,724 | ||||||||||
Total identifiable assets acquired | 1,743,885 | 430,217 | 738,486 | ||||||||||
Fair value of liabilities assumed: | |||||||||||||
Deposits | 1,525,253 | 349,370 | 627,046 | ||||||||||
Borrowings | 171,606 | 58,204 | 37,241 | ||||||||||
Accrued expenses and other liabilities | 12,728 | 3,753 | 15,627 | ||||||||||
Total liabilities assumed | 1,709,587 | 411,327 | 679,914 | ||||||||||
Fair value of net identifiable assets acquired | 34,298 | 18,890 | 58,572 | ||||||||||
Goodwill recognized | $ | 106,602 | $ | 37,410 | $ | 51,284 | |||||||
The following pro forma information for the year ended December 31, 2011 reflects the Corporation’s estimated consolidated results of operations as if the Parkvale acquisition occurred on January 1, 2011, unadjusted for potential cost savings: | |||||||||||||
Year Ended December 31 | 2011 | ||||||||||||
Revenue (net interest income and non-interest income) | $ | 486,818 | |||||||||||
Net income | 96,299 | ||||||||||||
Net income available to common stockholders | 94,711 | ||||||||||||
Earnings per common share – basic | 0.69 | ||||||||||||
Earnings per common share – diluted | 0.69 | ||||||||||||
Parkvale’s results of operations are included in the Corporation’s results for the entire years of 2013 and 2012. Pro forma information is not presented for 2013 or 2012 to reflect ANNB and PVF due to the immateriality of those acquisitions. |
Securities
Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||||||||||||||||||||||
4. Securities | |||||||||||||||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | $ | 336,763 | $ | 126 | $ | (5,904 | ) | $ | 330,985 | ||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 247,880 | 4,304 | (1,303 | ) | 250,881 | ||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 511,098 | 895 | (20,794 | ) | 491,199 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,747 | 15 | — | 1,762 | |||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 16,842 | 410 | (250 | ) | 17,002 | ||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 37,203 | 4,507 | (10,115 | ) | 31,595 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 16,505 | 524 | (929 | ) | 16,100 | ||||||||||||||||||||||||||||||||||||||||
Total debt securities | 1,168,038 | 10,781 | (39,295 | ) | 1,139,524 | ||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,444 | 682 | — | 2,126 | |||||||||||||||||||||||||||||||||||||||||
$ | 1,169,482 | $ | 11,463 | $ | (39,295 | ) | $ | 1,141,650 | |||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | $ | 352,910 | $ | 1,676 | $ | (129 | ) | $ | 354,457 | ||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 267,575 | 7,575 | — | 275,150 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 465,574 | 4,201 | (228 | ) | 469,547 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 2,679 | 50 | — | 2,729 | |||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 23,592 | 1,232 | — | 24,824 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 34,765 | 967 | (13,276 | ) | 22,456 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 21,790 | 695 | (972 | ) | 21,513 | ||||||||||||||||||||||||||||||||||||||||
Total debt securities | 1,168,885 | 16,396 | (14,605 | ) | 1,170,676 | ||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,554 | 462 | (9 | ) | 2,007 | ||||||||||||||||||||||||||||||||||||||||
$ | 1,170,439 | $ | 16,858 | $ | (14,614 | ) | $ | 1,172,683 | |||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | $ | 231,187 | $ | 642 | $ | — | $ | 231,829 | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 166,758 | 4,853 | — | 171,611 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 181,493 | 2,236 | — | 183,729 | |||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 31 | — | (1 | ) | 30 | ||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 38,509 | 1,841 | — | 40,350 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 19,224 | — | (13,226 | ) | 5,998 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 6,863 | — | (1,666 | ) | 5,197 | ||||||||||||||||||||||||||||||||||||||||
Total debt securities | 644,065 | 9,572 | (14,893 | ) | 638,744 | ||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,593 | 257 | (23 | ) | 1,827 | ||||||||||||||||||||||||||||||||||||||||
$ | 645,658 | $ | 9,829 | $ | (14,916 | ) | $ | 640,571 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 503 | $ | 99 | $ | — | $ | 602 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 43,322 | 180 | (1,151 | ) | 42,351 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 628,681 | 12,281 | (6,032 | ) | 634,930 | ||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 385,408 | 764 | (15,844 | ) | 370,328 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 6,852 | 44 | (4 | ) | 6,892 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 2,241 | 124 | (37 | ) | 2,328 | ||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 132,162 | 1,992 | (2,022 | ) | 132,132 | ||||||||||||||||||||||||||||||||||||||||
$ | 1,199,169 | $ | 15,484 | $ | (25,090 | ) | $ | 1,189,563 | |||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 503 | $ | 188 | $ | — | $ | 691 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 28,731 | 280 | (99 | ) | 28,912 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 780,022 | 28,783 | (1 | ) | 808,804 | ||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 133,976 | 1,266 | — | 135,242 | |||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 14,082 | 130 | — | 14,212 | |||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 1,024 | 39 | — | 1,063 | |||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 147,713 | 6,099 | — | 153,812 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 512 | — | (35 | ) | 477 | ||||||||||||||||||||||||||||||||||||||||
$ | 1,106,563 | $ | 36,785 | $ | (135 | ) | $ | 1,143,213 | |||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 504 | $ | 185 | $ | — | $ | 689 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 4,019 | 175 | — | 4,194 | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 683,100 | 28,722 | — | 711,822 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 54,319 | 573 | (11 | ) | 54,881 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 24,348 | 143 | (1,373 | ) | 23,118 | ||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 147,748 | 6,877 | — | 154,625 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 1,592 | — | (314 | ) | 1,278 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 1,582 | 25 | (181 | ) | 1,426 | ||||||||||||||||||||||||||||||||||||||||
$ | 917,212 | $ | 36,700 | $ | (1,879 | ) | $ | 952,033 | |||||||||||||||||||||||||||||||||||||
Gross gains and gross losses were realized on securities as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||
Gross gains | $ | 1,200 | $ | 1,154 | $ | 3,848 | |||||||||||||||||||||||||||||||||||||||
Gross losses | (392 | ) | (849 | ) | (196 | ) | |||||||||||||||||||||||||||||||||||||||
$ | 808 | $ | 305 | $ | 3,652 | ||||||||||||||||||||||||||||||||||||||||
The gross gains in the table above included $3,415 in 2011 relating to the sale of securities to better position the balance sheet. These sales included a $3,940 U.S. government agency security and $83,736 of mortgage backed securities. | |||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013, the amortized cost and fair value of securities, by contractual maturities, were as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||||||||||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | $ | 3,376 | $ | 3,421 | |||||||||||||||||||||||||||||||||||||
Due from one to five years | 281,854 | 278,833 | 47,666 | 46,735 | |||||||||||||||||||||||||||||||||||||||||
Due from five to ten years | 79,155 | 77,071 | 51,161 | 51,798 | |||||||||||||||||||||||||||||||||||||||||
Due after ten years | 46,304 | 39,778 | 73,784 | 73,131 | |||||||||||||||||||||||||||||||||||||||||
407,313 | 395,682 | 175,987 | 175,085 | ||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 247,880 | 250,881 | 628,681 | 634,930 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 511,098 | 491,199 | 385,408 | 370,328 | |||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,747 | 1,762 | 6,852 | 6,892 | |||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | — | 2,241 | 2,328 | |||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,444 | 2,126 | — | — | |||||||||||||||||||||||||||||||||||||||||
$ | 1,169,482 | $ | 1,141,650 | $ | 1,199,169 | $ | 1,189,563 | ||||||||||||||||||||||||||||||||||||||
Maturities may differ from contractual terms because borrowers may have the right to call or prepay obligations with or without penalties. Periodic payments are received on residential mortgage-backed securities based on the payment patterns of the underlying collateral. | |||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, securities with a carrying value of $909,548 and $725,450, respectively, were pledged to secure public deposits, trust deposits and for other purposes as required by law. Securities with a carrying value of $860,279 and $795,812 at December 31, 2013 and 2012, respectively, were pledged as collateral for short-term borrowings. | |||||||||||||||||||||||||||||||||||||||||||||
Following are summaries of the fair values and unrealized losses of securities, segregated by length of impairment: | |||||||||||||||||||||||||||||||||||||||||||||
Less than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||||||||||||||||||||||
# | Fair | Unrealized | # | Fair | Unrealized | # | Fair | Unrealized | |||||||||||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 17 | $ | 232,962 | $ | (5,904 | ) | — | $ | — | $ | — | 17 | $ | 232,962 | $ | (5,904 | ) | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 9 | 108,284 | (1,303 | ) | — | — | — | 9 | 108,284 | (1,303 | ) | ||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 26 | 389,989 | (18,644 | ) | 2 | 34,229 | (2,150 | ) | 28 | 424,218 | (20,794 | ) | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 2 | 3,022 | (250 | ) | — | — | — | 2 | 3,022 | (250 | ) | ||||||||||||||||||||||||||||||||||
Collateralized debt obligations | — | — | — | 8 | 7,965 | (10,115 | ) | 8 | 7,965 | (10,115 | ) | ||||||||||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 5,950 | (929 | ) | 4 | 5,950 | (929 | ) | ||||||||||||||||||||||||||||||||||
54 | $ | 734,257 | $ | (26,101 | ) | 14 | $ | 48,144 | $ | (13,194 | ) | 68 | $ | 782,401 | $ | (39,295 | ) | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 3 | $ | 44,868 | $ | (129 | ) | — | $ | — | $ | — | 3 | $ | 44,868 | $ | (129 | ) | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 3 | 47,174 | (228 | ) | — | — | — | 3 | 47,174 | (228 | ) | ||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 7 | 8,708 | (909 | ) | 9 | 5,532 | (12,367 | ) | 16 | 14,240 | (13,276 | ) | |||||||||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 5,899 | (972 | ) | 4 | 5,899 | (972 | ) | ||||||||||||||||||||||||||||||||||
Equity securities | 1 | 654 | (9 | ) | — | — | — | 1 | 654 | (9 | ) | ||||||||||||||||||||||||||||||||||
14 | $ | 101,404 | $ | (1,275 | ) | 13 | $ | 11,431 | $ | (13,339 | ) | 27 | $ | 112,835 | $ | (14,614 | ) | ||||||||||||||||||||||||||||
Less than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||||||||||||||||||||||
# | Fair Value | Unrealized | # | Fair | Unrealized | # | Fair Value | Unrealized | |||||||||||||||||||||||||||||||||||||
Losses | Value | Losses | Losses | ||||||||||||||||||||||||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 24,513 | $ | (530 | ) | 1 | $ | 14,378 | $ | (621 | ) | 3 | $ | 38,891 | $ | (1,151 | ) | |||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 24 | 308,864 | (5,942 | ) | 1 | 1,296 | (90 | ) | 25 | 310,160 | (6,032 | ) | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 21 | 301,312 | (15,844 | ) | — | — | — | 21 | 301,312 | (15,844 | ) | ||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 3 | 2,010 | (4 | ) | — | — | — | 3 | 2,010 | (4 | ) | ||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 1 | 984 | (37 | ) | — | — | — | 1 | 984 | (37 | ) | ||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 27 | 31,537 | (2,022 | ) | — | — | — | 27 | 31,537 | (2,022 | ) | ||||||||||||||||||||||||||||||||||
78 | $ | 669,220 | $ | (24,379 | ) | 2 | $ | 15,674 | $ | (711 | ) | 80 | $ | 684,894 | $ | (25,090 | ) | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 1 | $ | 14,901 | $ | (99 | ) | — | $ | — | $ | — | 1 | $ | 14,901 | $ | (99 | ) | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 1 | 1,424 | (1 | ) | — | — | — | 1 | 1,424 | (1 | ) | ||||||||||||||||||||||||||||||||||
Collateralized debt obligations | — | — | — | 1 | 477 | (35 | ) | 1 | 477 | (35 | ) | ||||||||||||||||||||||||||||||||||
2 | $ | 16,325 | $ | (100 | ) | 1 | $ | 477 | $ | (35 | ) | 3 | $ | 16,802 | $ | (135 | ) | ||||||||||||||||||||||||||||
The Corporation does not intend to sell the debt securities and it is not more likely than not the Corporation will be required to sell the securities before recovery of their amortized cost basis. | |||||||||||||||||||||||||||||||||||||||||||||
The Corporation’s unrealized losses on collateralized debt obligations (CDOs) relate to investments in TPS. The Corporation’s portfolio of TPS consists of single-issuer and pooled securities. The single-issuer securities are primarily from money-center and large regional banks and are included in other debt securities. The pooled securities consist of securities issued primarily by banks and thrifts, with some of the pools including a limited number of insurance companies. One of the pooled securities is covered by the Volcker Rule and regulatory guidance issued in January 2014 requires its disposal by July 2015. This security was acquired in the Parkvale acquisition and valued at fair value and is not subject to OTTI. Investments in pooled securities are all in mezzanine tranches except for two investments in senior tranches, and are secured by over-collateralization or default protection provided by subordinated tranches. The non-credit portion of unrealized losses on investments in TPS is attributable to illiquidity and the uncertainty affecting these markets, as well as changes in interest rates. | |||||||||||||||||||||||||||||||||||||||||||||
Other-Than-Temporary Impairment | |||||||||||||||||||||||||||||||||||||||||||||
The Corporation evaluates its investment securities portfolio for OTTI on a quarterly basis. Impairment is assessed at the individual security level. The Corporation considers an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. | |||||||||||||||||||||||||||||||||||||||||||||
The Corporation invested in TPS issued by special purpose vehicles (SPVs) that hold pools of collateral consisting of trust preferred and subordinated debt securities issued by banks, bank holding companies, thrifts and insurance companies. The securities issued by the SPVs are generally segregated into several classes known as tranches. Typically, the structure includes senior, mezzanine and equity tranches. The equity tranche represents the first loss position. The Corporation generally holds interests in mezzanine tranches. Interest and principal collected from the collateral held by the SPVs are distributed with a priority that provides the highest level of protection to the senior-most tranches. In order to provide a high level of protection to the senior tranches, cash flows are diverted to higher-level tranches if the principal and interest coverage tests are not met. | |||||||||||||||||||||||||||||||||||||||||||||
The Corporation prices its holdings of pooled TPS using Level 3 inputs in accordance with ASC 820, Fair Value Measurements and Disclosures, and guidance issued by the SEC. In this regard, the Corporation evaluates current available information in estimating the future cash flows of these securities and determines whether there have been favorable or adverse changes in estimated cash flows from the cash flows previously projected. The Corporation considers the structure and term of the pool and the financial condition of the underlying issuers. Specifically, the evaluation incorporates factors such as over-collateralization and interest coverage tests, interest rates and appropriate risk premiums, the timing and amount of interest and principal payments and the allocation of payments to the various tranches. Current estimates of cash flows are based on the most recent trustee reports, announcements of deferrals or defaults, and assumptions regarding expected future default rates, prepayment and recovery rates and other relevant information. In constructing these assumptions, the Corporation considers the following: | |||||||||||||||||||||||||||||||||||||||||||||
• | that current defaults would have no recovery; | ||||||||||||||||||||||||||||||||||||||||||||
• | that some individually analyzed deferrals will cure at rates varying from 10% to 90% after the deferral period ends; | ||||||||||||||||||||||||||||||||||||||||||||
• | recent historical performance metrics, including profitability, capital ratios, loan charge-offs and loan reserve ratios, for the underlying institutions that would indicate a higher probability of default by the institution; | ||||||||||||||||||||||||||||||||||||||||||||
• | that institutions identified as possessing a higher probability of default would recover at a rate of 10% for banks and 15% for insurance companies; | ||||||||||||||||||||||||||||||||||||||||||||
• | that financial performance of the financial sector continues to be affected by the economic environment resulting in deferrals not curing and defaulting in the future; | ||||||||||||||||||||||||||||||||||||||||||||
• | whether the security is currently deferring interest; and | ||||||||||||||||||||||||||||||||||||||||||||
• | the external rating of the security and recent changes to its external rating. | ||||||||||||||||||||||||||||||||||||||||||||
The primary evidence utilized by the Corporation is the level of current deferrals and defaults, the level of excess subordination that allows for receipt of full principal and interest, the credit rating for each security and the likelihood that future deferrals and defaults will occur at a level that will fully erode the excess subordination based on an assessment of the underlying collateral. The Corporation combines the results of these factors considered in estimating the future cash flows of these securities to determine whether there has been an adverse change in estimated cash flows from the cash flows previously projected. | |||||||||||||||||||||||||||||||||||||||||||||
The Corporation’s portfolio of TPS consists of 23 pooled issues, primarily obtained through acquisitions, and four single-issuer securities. Two of the pooled issues are senior tranches; the remaining 21 are mezzanine tranches. At December 31, 2013, the 23 pooled TPS had an estimated fair value of $31,595 while the single-issuer TPS had an estimated fair value of $5,950. The Corporation has concluded from the analysis performed at December 31, 2013 that it is probable that the Corporation will collect all contractual principal and interest payments on all of its single-issuer and pooled TPS sufficient to recover the amortized cost basis of the securities. | |||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013, all four single-issuer TPS are current in regards to their principal and interest payments. Of the 23 pooled TPS, three are accruing interest based on the coupon rate, 18 are accreting income based on future expected cash flows and the remaining two are on non-accrual status. Income of $3,338 and $2,831 was recognized on pooled TPS for 2013 and 2012, respectively. Included in the amount for 2012 was $34 recognized on pooled TPS which were sold during 2012. | |||||||||||||||||||||||||||||||||||||||||||||
The Corporation recognized net impairment losses on securities of $27 and $212 for 2013 and 2012, respectively, due to the write-down of securities that the Corporation deemed to be other-than-temporarily impaired. | |||||||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of the cumulative credit-related OTTI charges recognized as components of earnings for securities for which a portion of an OTTI is recognized in other comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||
Collateralized | Residential | Equities | Total | ||||||||||||||||||||||||||||||||||||||||||
Debt | Non-Agency | ||||||||||||||||||||||||||||||||||||||||||||
Obligations | CMOs | ||||||||||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 17,155 | $ | 212 | $ | — | $ | 17,367 | |||||||||||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | — | 27 | 27 | |||||||||||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | — | (212 | ) | — | (212 | ) | |||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 17,155 | $ | — | $ | 27 | $ | 17,182 | |||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 18,369 | $ | 29 | — | $ | 18,398 | ||||||||||||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | 212 | — | 212 | |||||||||||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | (1,214 | ) | (29 | ) | — | (1,243 | ) | ||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 17,155 | $ | 212 | — | $ | 17,367 | ||||||||||||||||||||||||||||||||||||||
TPS continue to experience price volatility as the secondary market for such securities remains limited to select non-regulated buyers. Write-downs, when required, are based on an individual security’s credit performance and its ability to make its contractual principal and interest payments. Should credit quality deteriorate to a greater extent than projected, it is possible that additional write-downs may be required. The Corporation monitors actual deferrals and defaults as well as expected future deferrals and defaults to determine if there is a high probability for expected losses and contractual shortfalls of interest or principal, which could warrant further impairment. The Corporation evaluates its entire TPS portfolio each quarter to determine if additional write-downs are warranted. | |||||||||||||||||||||||||||||||||||||||||||||
The following table provides information relating to the Corporation’s TPS as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||
Security | Class | Current | Amortized | Fair | Unrealized | Lowest | Number of | Actual | Actual | Projected | Expected | Excess | |||||||||||||||||||||||||||||||||
Par | Cost | Value | Gain | Credit | Issuers | Defaults | Deferrals | Recovery | Defaults | Subordination | |||||||||||||||||||||||||||||||||||
Value | (Loss) | Ratings | Currently | (as a | (as a | Rates on | (%) (2) | (as a percent | |||||||||||||||||||||||||||||||||||||
Performing | percent of | percent of | Current | of current | |||||||||||||||||||||||||||||||||||||||||
original | original | Deferrals | collateral) (3) | ||||||||||||||||||||||||||||||||||||||||||
collateral) | collateral) | -1 | |||||||||||||||||||||||||||||||||||||||||||
Pooled TPS: | |||||||||||||||||||||||||||||||||||||||||||||
P1 | C1 | $ | 5,500 | $ | 2,611 | $ | 1,567 | $ | (1,044 | ) | C | 42 | 22 | 7 | 41 | 17 | 0 | ||||||||||||||||||||||||||||
P2 | C1 | 4,889 | 3,133 | 1,326 | (1,807 | ) | C | 40 | 16 | 15 | 45 | 14 | 0 | ||||||||||||||||||||||||||||||||
P3 | C1 | 5,561 | 4,416 | 1,691 | (2,725 | ) | C | 46 | 13 | 9 | 34 | 16 | 0 | ||||||||||||||||||||||||||||||||
P4 | C1 | 3,994 | 3,169 | 1,196 | (1,973 | ) | C | 51 | 16 | 6 | 46 | 16 | 0 | ||||||||||||||||||||||||||||||||
P5 | B3 | 2,000 | 780 | 373 | (407 | ) | C | 14 | 29 | 10 | 48 | 11 | 0 | ||||||||||||||||||||||||||||||||
P6 | B1 | 3,028 | 2,539 | 1,016 | (1,523 | ) | C | 50 | 15 | 18 | 50 | 10 | 0 | ||||||||||||||||||||||||||||||||
P7 | C | 5,048 | 864 | 1,453 | 589 | C | 38 | 14 | 19 | 38 | 13 | 0 | |||||||||||||||||||||||||||||||||
P8 | C | 2,011 | 788 | 341 | (447 | ) | C | 44 | 16 | 11 | 36 | 17 | 0.32 | ||||||||||||||||||||||||||||||||
P9 | A4L | 2,000 | 645 | 456 | (189 | ) | C | 25 | 16 | 10 | 37 | 11 | 0 | ||||||||||||||||||||||||||||||||
Total OTTI | 34,031 | 18,945 | 9,419 | (9,526 | ) | 350 | 17 | 11 | 42 | 15 | |||||||||||||||||||||||||||||||||||
P10 | C1 | 5,219 | 1,109 | 1,487 | 378 | C | 42 | 22 | 7 | 41 | 17 | 0 | |||||||||||||||||||||||||||||||||
P11 | A2A | 5,000 | 2,240 | 2,384 | 144 | B+ | 40 | 16 | 15 | 45 | 14 | 51.83 | |||||||||||||||||||||||||||||||||
P12 | C1 | 4,781 | 1,371 | 1,454 | 83 | C | 46 | 13 | 9 | 34 | 16 | 0 | |||||||||||||||||||||||||||||||||
P13 | C1 | 5,260 | 1,336 | 1,574 | 238 | C | 51 | 16 | 6 | 46 | 16 | 0 | |||||||||||||||||||||||||||||||||
P14 | C1 | 5,190 | 1,108 | 1,357 | 249 | C | 57 | 15 | 12 | 28 | 17 | 0 | |||||||||||||||||||||||||||||||||
P15 | C1 | 3,206 | 429 | 616 | 187 | C | 41 | 21 | 6 | 23 | 17 | 0 | |||||||||||||||||||||||||||||||||
P16 | C | 3,339 | 678 | 775 | 97 | C | 37 | 17 | 9 | 31 | 14 | 0 | |||||||||||||||||||||||||||||||||
P17 | B | 2,069 | 694 | 763 | 69 | Ca | 33 | 14 | 17 | 40 | 14 | 21.87 | |||||||||||||||||||||||||||||||||
P18 | B2 | 5,000 | 2,243 | 3,096 | 853 | CCC | 19 | 0 | 8 | 90 | 14 | 38.1 | |||||||||||||||||||||||||||||||||
P19 | B | 4,080 | 976 | 1,498 | 522 | C | 44 | 16 | 11 | 36 | 17 | 15 | |||||||||||||||||||||||||||||||||
P20 | A1 | 3,279 | 1,977 | 2,107 | 103 | BB- | 46 | 21 | 6 | 42 | 15 | 55.16 | |||||||||||||||||||||||||||||||||
P21 | B | 5,000 | 1,327 | 1,331 | 4 | C | 16 | 18 | 5 | 49 | 11 | 0 | |||||||||||||||||||||||||||||||||
P22 | C1 | 5,531 | 1,440 | 1,954 | 514 | C | 25 | 15 | 7 | 40 | 10 | 0 | |||||||||||||||||||||||||||||||||
P23 | C1 | 5,606 | 1,330 | 1,780 | 450 | C | 24 | 16 | 8 | 42 | 10 | 0 | |||||||||||||||||||||||||||||||||
Total Not OTTI | 62,560 | 18,258 | 22,176 | 3,918 | 521 | 16 | 9 | 41 | 15 | ||||||||||||||||||||||||||||||||||||
Total Pooled TPS | $ | 96,591 | $ | 37,203 | $ | 31,595 | $ | (5,608 | ) | 871 | 16 | 10 | 41 | 15 | |||||||||||||||||||||||||||||||
Single Issuer TPS: | |||||||||||||||||||||||||||||||||||||||||||||
S1 | $ | 2,000 | $ | 1,955 | $ | 1,580 | $ | (375 | ) | BB | 1 | ||||||||||||||||||||||||||||||||||
S2 | 2,000 | 1,925 | 1,630 | (295 | ) | BBB | 1 | ||||||||||||||||||||||||||||||||||||||
S3 | 2,000 | 2,000 | 1,950 | (50 | ) | B+ | 1 | ||||||||||||||||||||||||||||||||||||||
S4 | 1,000 | 999 | 790 | (209 | ) | BB | 1 | ||||||||||||||||||||||||||||||||||||||
Total Single Issuer TPS | $ | 7,000 | $ | 6,879 | $ | 5,950 | $ | (929 | ) | 4 | |||||||||||||||||||||||||||||||||||
Total TPS | $ | 103,591 | $ | 44,082 | $ | 37,545 | $ | (6,537 | ) | 875 | |||||||||||||||||||||||||||||||||||
-1 | Some current deferrals are expected to cure at rates varying from 10% to 90% after five years. | ||||||||||||||||||||||||||||||||||||||||||||
-2 | Expected future defaults as a percent of remaining performing collateral. | ||||||||||||||||||||||||||||||||||||||||||||
-3 | Excess subordination represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences any credit impairment. | ||||||||||||||||||||||||||||||||||||||||||||
States of the U.S. and Political Subdivisions | |||||||||||||||||||||||||||||||||||||||||||||
The Corporation’s municipal bond portfolio of $149,164 as of December 31, 2013 is highly rated with an average entity-specific rating of AA and 99.2% of the portfolio rated A or better. General obligation bonds comprise 98.9% of the portfolio. Geographically, municipal bonds support the Corporation’s footprint as 79.0% of the securities are from municipalities located throughout Pennsylvania. The average holding size of the securities in the municipal bond portfolio is $1,001. In addition to the strong stand-alone ratings, 67.0% of the municipalities have purchased credit enhancement insurance to strengthen the creditworthiness of their issue. Management also reviews the credit profile of each issuer on a quarterly basis. |
Federal_Home_Loan_Bank_Stock
Federal Home Loan Bank Stock | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Federal Home Loan Bank Stock | ' |
5. Federal Home Loan Bank Stock | |
The Corporation is a member of the Federal Home Loan Bank (FHLB) of Pittsburgh. The FHLB requires members to purchase and hold a specified minimum level of FHLB stock based upon their level of borrowings, collateral balances and participation in other programs offered by the FHLB. Stock in the FHLB is non-marketable and is redeemable at the discretion of the FHLB. Both cash and stock dividends on FHLB stock are reported as income. | |
Members do not purchase stock in the FHLB for the same reasons that traditional equity investors acquire stock in an investor-owned enterprise. Rather, members purchase stock to obtain access to the low-cost products and services offered by the FHLB. Unlike equity securities of traditional for-profit enterprises, the stock of FHLB does not provide its holders with an opportunity for capital appreciation because, by regulation, FHLB stock can only be purchased, redeemed and transferred at par value. | |
At December 31, 2013 and 2012, the Corporation’s FHLB stock totaled $23,636 and $24,560, respectively, and is included in other assets on the balance sheet. The Corporation accounts for the stock in accordance with ASC 325, which requires the investment to be carried at cost and evaluated for impairment based on the ultimate recoverability of the par value. Due to the continued improvement of the FHLB’s financial performance and stability over the past several years, along with quarterly cash dividends in 2013, the Corporation believes its holdings in the stock are ultimately recoverable at par value and, therefore, determined that FHLB stock was not other-than-temporarily impaired. In addition, the Corporation has ample liquidity and does not require redemption of its FHLB stock in the foreseeable future. | |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||
6. Loans and Allowance for Loan Losses | |||||||||||||||||||||||||||||
Following is a summary of loans, net of unearned income: | |||||||||||||||||||||||||||||
Originated | Acquired | Total | |||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,640,428 | $ | 604,781 | $ | 3,245,209 | |||||||||||||||||||||||
Commercial and industrial | 1,761,668 | 119,806 | 1,881,474 | ||||||||||||||||||||||||||
Commercial leases | 158,895 | — | 158,895 | ||||||||||||||||||||||||||
Total commercial loans and leases | 4,560,991 | 724,587 | 5,285,578 | ||||||||||||||||||||||||||
Direct installment | 1,387,995 | 79,241 | 1,467,236 | ||||||||||||||||||||||||||
Residential mortgages | 678,227 | 408,512 | 1,086,739 | ||||||||||||||||||||||||||
Indirect installment | 649,701 | 5,886 | 655,587 | ||||||||||||||||||||||||||
Consumer lines of credit | 832,668 | 133,103 | 965,771 | ||||||||||||||||||||||||||
Other | 45,183 | — | 45,183 | ||||||||||||||||||||||||||
$ | 8,154,765 | $ | 1,351,329 | $ | 9,506,094 | ||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,448,471 | $ | 258,575 | $ | 2,707,046 | |||||||||||||||||||||||
Commercial and industrial | 1,555,301 | 47,013 | 1,602,314 | ||||||||||||||||||||||||||
Commercial leases | 130,133 | — | 130,133 | ||||||||||||||||||||||||||
Total commercial loans and leases | 4,133,905 | 305,588 | 4,439,493 | ||||||||||||||||||||||||||
Direct installment | 1,108,865 | 69,665 | 1,178,530 | ||||||||||||||||||||||||||
Residential mortgages | 653,826 | 438,402 | 1,092,228 | ||||||||||||||||||||||||||
Indirect installment | 568,324 | 13,713 | 582,037 | ||||||||||||||||||||||||||
Consumer lines of credit | 732,534 | 72,960 | 805,494 | ||||||||||||||||||||||||||
Other | 39,937 | — | 39,937 | ||||||||||||||||||||||||||
$ | 7,237,391 | $ | 900,328 | $ | 8,137,719 | ||||||||||||||||||||||||
The carrying amount of acquired loans at December 31, 2013 totaled $1,345,429, including purchased credit-impaired (PCI) loans with a carrying amount of $21,192, while the carrying amount of acquired loans at December 31, 2012 totaled $896,148, including PCI loans with a carrying amount of $15,864. The outstanding contractual balance receivable of acquired loans at December 31, 2013 totaled $1,449,227, including PCI loans with an outstanding contractual balance receivable of $56,500, while the outstanding contractual balance receivable of acquired loans at December 31, 2012 totaled $949,862, including PCI loans with an outstanding contractual balance receivable of $41,134. | |||||||||||||||||||||||||||||
Commercial real estate includes both owner-occupied and non-owner-occupied loans secured by commercial properties. Commercial and industrial includes loans to businesses that are not secured by real estate. Commercial leases consist of loans for new or used equipment. Direct installment is comprised of fixed-rate, closed-end consumer loans for personal, family or household use, such as home equity loans and automobile loans. Residential mortgages consist of conventional and jumbo mortgage loans for non-commercial properties. Indirect installment is comprised of loans originated by third parties and underwritten by the Corporation, primarily automobile loans. Consumer lines of credit include home equity lines of credit (HELOC) and consumer lines of credit that are either unsecured or secured by collateral other than home equity. Other is comprised primarily of mezzanine loans and student loans. | |||||||||||||||||||||||||||||
The loan portfolio consists principally of loans to individuals and small- and medium-sized businesses within the Corporation’s primary market area of Pennsylvania, eastern Ohio, Maryland and northern West Virginia. The commercial real estate portfolio also includes run-off loans in Florida, which totaled $39,379 or 0.4% of total loans at December 31, 2013, compared to $68,627 or 0.8% of total loans at December 31, 2012. Additionally, the total loan portfolio contains consumer finance loans to individuals in Pennsylvania, Ohio, Tennessee and Kentucky, which totaled $179,970 or 1.9% of total loans at December 31, 2013, compared to $170,999 or 2.1% of total loans at December 31, 2012. Due to the relative size of the consumer finance loan portfolio, they are not segregated from other consumer loans. | |||||||||||||||||||||||||||||
As of December 31, 2013, 43.1% of the commercial real estate loans were owner-occupied, while the remaining 56.9% were non-owner-occupied, compared to 46.5% and 53.5%, respectively, as of December 31, 2012. As of December 31, 2013 and 2012, the Corporation had commercial construction loans of $252,842 and $190,206, respectively, representing 2.7% and 2.3% of total loans, respectively. As of December 31, 2013 and 2012, there were no concentrations of loans relating to any industry in excess of 10% of total loans. | |||||||||||||||||||||||||||||
The Corporation has extended credit to certain directors and executive officers and their related interests. These related-party loans were made in the ordinary course of business under normal credit terms and do not involve more than a normal risk of collection. Following is an analysis of these loans to related parties: | |||||||||||||||||||||||||||||
Total loans at December 31, 2012 | $ | 74,096 | |||||||||||||||||||||||||||
New loans | 3,210 | ||||||||||||||||||||||||||||
Repayments | (7,749 | ) | |||||||||||||||||||||||||||
Other | (25,334 | ) | |||||||||||||||||||||||||||
Total loans at December 31, 2013 | $ | 44,223 | |||||||||||||||||||||||||||
Other represents the net change in loan balances resulting from changes in related parties during 2013. | |||||||||||||||||||||||||||||
ASC 310-30 Loans | |||||||||||||||||||||||||||||
All loans acquired in the PVF, ANNB and Parkvale acquisitions, except for revolving loans, are accounted for in accordance with ASC 310-30. Revolving loans are accounted for under ASC 310-20. The Corporation’s allowance for loan losses for acquired loans reflects only those losses incurred after acquisition. | |||||||||||||||||||||||||||||
The following table reflects amounts at acquisition for all purchased loans subject to ASC310-30 (impaired and non-impaired) acquired from PVF and ANNB in 2013 and Parkvale in 2012: | |||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||
Impaired | Performing | ||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Acquired from PVF and ANNB in 2013 | |||||||||||||||||||||||||||||
Contractually required cash flows at acquisition | $ | 40,972 | $ | 796,114 | $ | 837,086 | |||||||||||||||||||||||
Non-accretable difference (expected losses and foregone interest) | (23,207 | ) | (52,992 | ) | (76,199 | ) | |||||||||||||||||||||||
Cash flows expected to be collected at acquisition | 17,765 | 743,122 | 760,887 | ||||||||||||||||||||||||||
Accretable yield | (2,505 | ) | (112,847 | ) | (115,352 | ) | |||||||||||||||||||||||
Basis in acquired loans at acquisition | $ | 15,260 | $ | 630,275 | $ | 645,535 | |||||||||||||||||||||||
Acquired from Parkvale in 2012 | |||||||||||||||||||||||||||||
Contractually required cash flows at acquisition | $ | 12,224 | $ | 1,327,342 | $ | 1,339,566 | |||||||||||||||||||||||
Non-accretable difference (expected losses and foregone interest) | (6,070 | ) | (214,541 | ) | (220,611 | ) | |||||||||||||||||||||||
Cash flows expected to be collected at acquisition | 6,154 | 1,112,801 | 1,118,955 | ||||||||||||||||||||||||||
Accretable yield | (589 | ) | (293,594 | ) | (294,183 | ) | |||||||||||||||||||||||
Basis in acquired loans at acquisition | $ | 5,565 | $ | 819,207 | $ | 824,772 | |||||||||||||||||||||||
The following table provides a summary of change in accretable yield for all acquired loans: | |||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||
Impaired | Performing | ||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 778 | $ | 253,375 | $ | 254,153 | |||||||||||||||||||||||
Acquisitions | 2,505 | 112,847 | 115,352 | ||||||||||||||||||||||||||
Reduction due to unexpected early payoffs | — | (42,582 | ) | (42,582 | ) | ||||||||||||||||||||||||
Reclass from non-accretable difference | 8,097 | 8,296 | 16,393 | ||||||||||||||||||||||||||
Disposals/transfers | (368 | ) | (224 | ) | (592 | ) | |||||||||||||||||||||||
Accretion | (3,556 | ) | (33,522 | ) | (37,078 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 7,456 | $ | 298,190 | $ | 305,646 | |||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 2,477 | $ | 49,229 | $ | 51,706 | |||||||||||||||||||||||
Acquisitions | 589 | 293,594 | 294,183 | ||||||||||||||||||||||||||
Reduction due to unexpected early payoffs | — | (57,840 | ) | (57,840 | ) | ||||||||||||||||||||||||
Reclass from non-accretable difference | 3,539 | 10,915 | 14,454 | ||||||||||||||||||||||||||
Disposals/transfers | (49 | ) | (615 | ) | (664 | ) | |||||||||||||||||||||||
Accretion | (5,778 | ) | (41,908 | ) | (47,686 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 778 | $ | 253,375 | $ | 254,153 | |||||||||||||||||||||||
Purchased Credit-Impaired Loans | |||||||||||||||||||||||||||||
The Corporation has acquired loans for which there was evidence of deterioration of credit quality since origination and for which it was probable, at acquisition, that all contractually required payments would not be collected. | |||||||||||||||||||||||||||||
Following is information about PCI loans identified in the Corporation’s acquisition of PVF: | |||||||||||||||||||||||||||||
At | December 31, | ||||||||||||||||||||||||||||
Acquisition | 2013 | ||||||||||||||||||||||||||||
Outstanding balance | $ | 29,811 | $ | 29,642 | |||||||||||||||||||||||||
Carrying amount | 11,412 | 11,063 | |||||||||||||||||||||||||||
Allowance for loan losses | n/a | — | |||||||||||||||||||||||||||
Impairment recognized since acquisition | n/a | — | |||||||||||||||||||||||||||
Allowance reduction recognized since acquisition | n/a | — | |||||||||||||||||||||||||||
Following is information about PCI loans identified in the Corporation’s acquisition of ANNB: | |||||||||||||||||||||||||||||
At | December 31, | ||||||||||||||||||||||||||||
Acquisition | 2013 | ||||||||||||||||||||||||||||
Outstanding balance | $ | 12,220 | $ | 5,580 | |||||||||||||||||||||||||
Carrying amount | 3,848 | 2,308 | |||||||||||||||||||||||||||
Allowance for loan losses | n/a | — | |||||||||||||||||||||||||||
Impairment recognized since acquisition | n/a | 31 | |||||||||||||||||||||||||||
Allowance reduction recognized since acquisition | n/a | — | |||||||||||||||||||||||||||
Following is information about the Corporation’s PCI loans: | |||||||||||||||||||||||||||||
Outstanding | Non-Accretable | Expected | Accretable | Recorded | |||||||||||||||||||||||||
Balance | Difference | Cash Flows | Yield | Investment | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 41,134 | $ | (23,733 | ) | $ | 17,401 | $ | (778 | ) | $ | 16,623 | |||||||||||||||||
Acquisitions | 42,031 | (24,266 | ) | 17,765 | (2,505 | ) | 15,260 | ||||||||||||||||||||||
Accretion | — | — | — | 3,556 | 3,556 | ||||||||||||||||||||||||
Payments received | (10,670 | ) | 1,345 | (9,325 | ) | — | (9,325 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | — | 8,097 | 8,097 | (8,097 | ) | — | |||||||||||||||||||||||
Disposals/transfers | (18,695 | ) | 14,405 | (4,290 | ) | 368 | (3,922 | ) | |||||||||||||||||||||
Contractual interest | 2,700 | (2,700 | ) | — | — | — | |||||||||||||||||||||||
Balance at end of period | $ | 56,500 | $ | (26,852 | ) | $ | 29,648 | $ | (7,456 | ) | $ | 22,192 | |||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 51,693 | $ | (33,377 | ) | $ | 18,316 | $ | (2,477 | ) | $ | 15,839 | |||||||||||||||||
Acquisitions | 9,135 | (2,981 | ) | 6,154 | (589 | ) | 5,565 | ||||||||||||||||||||||
Accretion | — | — | — | 5,778 | 5,778 | ||||||||||||||||||||||||
Payments received | (9,556 | ) | — | (9,556 | ) | — | (9,556 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | — | 3,539 | 3,539 | (3,539 | ) | — | |||||||||||||||||||||||
Disposals/transfers | (12,494 | ) | 11,442 | (1,052 | ) | 49 | (1,003 | ) | |||||||||||||||||||||
Contractual interest | 2,356 | (2,356 | ) | — | — | — | |||||||||||||||||||||||
Balance at end of period | $ | 41,134 | $ | (23,733 | ) | $ | 17,401 | $ | (778 | ) | $ | 16,623 | |||||||||||||||||
The accretion in the table above includes $440 in 2013 and $3,539 in 2012 that primarily represents payoffs received on certain loans in excess of expected cash flows. | |||||||||||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||||||
Management monitors the credit quality of the Corporation’s loan portfolio on an ongoing basis. Measurement of delinquency and past due status are based on the contractual terms of each loan. | |||||||||||||||||||||||||||||
Non-performing loans include non-accrual loans and non-performing TDRs. Past due loans are reviewed on a monthly basis to identify loans for non-accrual status. The Corporation places a loan on non-accrual status and discontinues interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days. When a loan is placed on non-accrual status, all unpaid interest is reversed. Non-accrual loans may not be restored to accrual status until all delinquent principal and interest have been paid and the ultimate ability to collect the remaining principal and interest is reasonably assured. TDRs are loans in which the borrower has been granted a concession on the interest rate or the original repayment terms due to financial distress. Non-performing assets also include debt securities on which OTTI has been taken in the current or prior periods that have not been returned to accrual status. | |||||||||||||||||||||||||||||
Following is a summary of non-performing assets: | |||||||||||||||||||||||||||||
December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Non-accrual loans | $ | 58,755 | $ | 66,004 | |||||||||||||||||||||||||
Troubled debt restructurings | 18,698 | 14,876 | |||||||||||||||||||||||||||
Total non-performing loans | 77,453 | 80,880 | |||||||||||||||||||||||||||
Other real estate owned (OREO) | 40,681 | 35,257 | |||||||||||||||||||||||||||
Total non-performing loans and OREO | 118,134 | 116,137 | |||||||||||||||||||||||||||
Non-performing investments | 797 | 2,809 | |||||||||||||||||||||||||||
Total non-performing assets | $ | 118,931 | $ | 118,946 | |||||||||||||||||||||||||
Asset quality ratios: | |||||||||||||||||||||||||||||
Non-performing loans as a percent of total loans | 0.81 | % | 0.99 | % | |||||||||||||||||||||||||
Non-performing loans + OREO as a percent of total loans + OREO | 1.24 | % | 1.42 | % | |||||||||||||||||||||||||
Non-performing assets as a percent of total assets | 0.88 | % | 0.99 | % | |||||||||||||||||||||||||
The following tables provide an analysis of the aging of loans by class segregated by loans originated and loans acquired: | |||||||||||||||||||||||||||||
30-89 Days | ³ 90 Days | Non-Accrual | Total | Current | Total | ||||||||||||||||||||||||
Past Due | Past Due and | Past Due | Loans | ||||||||||||||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 5,428 | $ | 252 | $ | 40,960 | $ | 46,640 | $ | 2,593,788 | $ | 2,640,428 | |||||||||||||||||
Commercial and industrial | 2,066 | 8 | 6,643 | 8,717 | 1,752,951 | 1,761,668 | |||||||||||||||||||||||
Commercial leases | 714 | — | 734 | 1,448 | 157,447 | 158,895 | |||||||||||||||||||||||
Total commercial loans and leases | 8,208 | 260 | 48,337 | 56,805 | 4,504,186 | 4,560,991 | |||||||||||||||||||||||
Direct installment | 9,038 | 3,753 | 4,686 | 17,477 | 1,370,518 | 1,387,995 | |||||||||||||||||||||||
Residential mortgages | 12,681 | 2,401 | 4,260 | 19,342 | 658,885 | 678,227 | |||||||||||||||||||||||
Indirect installment | 5,653 | 471 | 1,060 | 7,184 | 642,517 | 649,701 | |||||||||||||||||||||||
Consumer lines of credit | 1,737 | 1,076 | 412 | 3,225 | 829,443 | 832,668 | |||||||||||||||||||||||
Other | 25 | 10 | — | 35 | 45,148 | 45,183 | |||||||||||||||||||||||
$ | 37,342 | $ | 7,971 | $ | 58,755 | $ | 104,068 | $ | 8,050,697 | $ | 8,154,765 | ||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 5,786 | $ | 533 | $ | 47,895 | $ | 54,214 | $ | 2,394,257 | $ | 2,448,471 | |||||||||||||||||
Commercial and industrial | 7,310 | 456 | 6,017 | 13,783 | 1,541,518 | 1,555,301 | |||||||||||||||||||||||
Commercial leases | 1,671 | — | 965 | 2,636 | 127,497 | 130,133 | |||||||||||||||||||||||
Total commercial loans and leases | 14,767 | 989 | 54,877 | 70,633 | 4,063,272 | 4,133,905 | |||||||||||||||||||||||
Direct installment | 8,834 | 2,717 | 3,342 | 14,893 | 1,093,972 | 1,108,865 | |||||||||||||||||||||||
Residential mortgages | 15,821 | 2,365 | 2,891 | 21,077 | 632,749 | 653,826 | |||||||||||||||||||||||
Indirect installment | 5,114 | 374 | 1,039 | 6,527 | 561,797 | 568,324 | |||||||||||||||||||||||
Consumer lines of credit | 1,633 | 247 | 355 | 2,235 | 730,299 | 732,534 | |||||||||||||||||||||||
Other | 36 | 15 | 3,500 | 3,551 | 36,386 | 39,937 | |||||||||||||||||||||||
$ | 46,205 | $ | 6,707 | $ | 66,004 | $ | 118,916 | $ | 7,118,475 | $ | 7,237,391 | ||||||||||||||||||
30-89 | ³ 90 Days | Non- | Total | Current | Discount | Total | |||||||||||||||||||||||
Days | Past Due | Accrual | Past | Loans | |||||||||||||||||||||||||
Past Due | and Still | Due (1)(2) | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 13,637 | $ | 20,668 | — | $ | 34,305 | $ | 619,197 | $ | (48,721 | ) | $ | 604,781 | |||||||||||||||
Commercial and industrial | 1,860 | 1,899 | — | 3,759 | 124,415 | (8,368 | ) | 119,806 | |||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total commercial loans and leases | 15,497 | 22,567 | — | 38,064 | 743,612 | (57,089 | ) | 724,587 | |||||||||||||||||||||
Direct installment | 1,447 | 1,178 | — | 2,625 | 74,917 | 1,699 | 79,241 | ||||||||||||||||||||||
Residential mortgages | 11,464 | 19,298 | — | 30,762 | 412,704 | (34,954 | ) | 408,512 | |||||||||||||||||||||
Indirect installment | 205 | 31 | — | 236 | 6,267 | (617 | ) | 5,886 | |||||||||||||||||||||
Consumer lines of credit | 1,592 | 2,749 | — | 4,341 | 135,699 | (6,937 | ) | 133,103 | |||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
$ | 30,205 | $ | 45,823 | — | $ | 76,028 | $ | 1,373,199 | $ | (97,898 | ) | $ | 1,351,329 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 6,829 | $ | 13,597 | — | $ | 20,426 | $ | 250,116 | $ | (11,967 | ) | $ | 258,575 | |||||||||||||||
Commercial and industrial | 1,653 | 138 | — | 1,791 | 47,351 | (2,129 | ) | 47,013 | |||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total commercial loans and leases | 8,482 | 13,735 | — | 22,217 | 297,467 | (14,096 | ) | 305,588 | |||||||||||||||||||||
Direct installment | 1,454 | 947 | — | 2,401 | 63,502 | 3,762 | 69,665 | ||||||||||||||||||||||
Residential mortgages | 12,137 | 21,069 | — | 33,206 | 439,620 | (34,424 | ) | 438,402 | |||||||||||||||||||||
Indirect installment | 347 | 56 | — | 403 | 14,089 | (779 | ) | 13,713 | |||||||||||||||||||||
Consumer lines of credit | 379 | 778 | — | 1,157 | 75,800 | (3,997 | ) | 72,960 | |||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
$ | 22,799 | $ | 36,585 | — | $ | 59,384 | $ | 890,478 | $ | (49,534 | ) | $ | 900,328 | ||||||||||||||||
-1 | Past due information for loans acquired is based on the contractual balance outstanding at December 31, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||
-2 | Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion method. | ||||||||||||||||||||||||||||
The Corporation utilizes the following categories to monitor credit quality within its commercial loan portfolio: | |||||||||||||||||||||||||||||
Rating | Definition | ||||||||||||||||||||||||||||
Category | |||||||||||||||||||||||||||||
Pass | in general, the condition of the borrower and the performance of the loan is satisfactory or better | ||||||||||||||||||||||||||||
Special Mention | in general, the condition of the borrower has deteriorated, requiring an increased level of monitoring | ||||||||||||||||||||||||||||
Substandard | in general, the condition of the borrower has significantly deteriorated and the performance of | ||||||||||||||||||||||||||||
the loan could further deteriorate if deficiencies are not corrected | |||||||||||||||||||||||||||||
Doubtful | in general, the condition of the borrower has significantly deteriorated and the collection in full of both principal and interest is highly questionable or improbable | ||||||||||||||||||||||||||||
The use of these internally assigned credit quality categories within the commercial loan portfolio permits management’s use of migration and roll rate analysis to estimate a quantitative portion of credit risk. The Corporation’s internal credit risk grading system is based on past experiences with similarly graded loans and conforms with regulatory categories. In general, loan risk ratings within each category are reviewed on an ongoing basis according to the Corporation’s policy for each class of loans. Each quarter, management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the commercial loan portfolio. Loans within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans that migrate toward the Substandard or Doubtful credit categories. Accordingly, management applies higher risk factors to Substandard and Doubtful credit categories. | |||||||||||||||||||||||||||||
The following tables present a summary of the Corporation’s commercial loans by credit quality category segregated by loans originated and loans acquired as of December 31, 2013. | |||||||||||||||||||||||||||||
Commercial Loan Credit Quality Categories | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Originated Loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,476,988 | $ | 56,140 | $ | 106,599 | $ | 701 | $ | 2,640,428 | |||||||||||||||||||
Commercial and industrial | 1,611,530 | 97,675 | 52,322 | 141 | 1,761,668 | ||||||||||||||||||||||||
Commercial leases | 155,991 | 1,945 | 959 | — | 158,895 | ||||||||||||||||||||||||
$ | 4,244,509 | $ | 155,760 | $ | 159,880 | $ | 842 | $ | 4,560,991 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,282,139 | $ | 57,938 | $ | 106,258 | $ | 2,136 | $ | 2,448,471 | |||||||||||||||||||
Commercial and industrial | 1,472,598 | 32,227 | 49,814 | 662 | 1,555,301 | ||||||||||||||||||||||||
Commercial leases | 126,283 | 243 | 3,607 | — | 130,133 | ||||||||||||||||||||||||
$ | 3,881,020 | $ | 90,408 | $ | 159,679 | $ | 2,798 | $ | 4,133,905 | ||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 442,604 | $ | 74,315 | $ | 85,086 | $ | 2,776 | $ | 604,781 | |||||||||||||||||||
Commercial and industrial | 100,743 | 6,182 | 12,866 | 15 | 119,806 | ||||||||||||||||||||||||
Commercial leases | — | — | — | — | — | ||||||||||||||||||||||||
$ | 543,347 | $ | 80,497 | $ | 97,952 | $ | 2,791 | $ | 724,587 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 204,300 | $ | 14,713 | $ | 39,093 | $ | 469 | $ | 258,575 | |||||||||||||||||||
Commercial and industrial | 39,596 | 3,611 | 3,804 | 2 | 47,013 | ||||||||||||||||||||||||
Commercial leases | — | — | — | — | — | ||||||||||||||||||||||||
$ | 243,896 | $ | 18,324 | $ | 42,897 | $ | 471 | $ | 305,588 | ||||||||||||||||||||
Credit quality information for acquired loans is based on the contractual balance outstanding at December 31, 2013 and 2012. The increase in acquired loans in 2013 relates to the PVF and ANNB acquisitions on October 12, 2013 and April 6, 2013, respectively. | |||||||||||||||||||||||||||||
The Corporation uses payment status and delinquency migration analysis within the consumer and other loan classes to enable management to estimate a quantitative portion of credit risk. Each month, management analyzes payment and volume activity, as well as other external statistics and factors such as unemployment, to determine how consumer loans are performing. | |||||||||||||||||||||||||||||
Following is a table showing originated consumer and other loans by payment status: | |||||||||||||||||||||||||||||
Consumer Loan Credit Quality by Payment Status | |||||||||||||||||||||||||||||
Performing | Non-Performing | Total | |||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Direct installment | $ | 1,377,418 | $ | 10,577 | $ | 1,387,995 | |||||||||||||||||||||||
Residential mortgages | 664,214 | 14,013 | 678,227 | ||||||||||||||||||||||||||
Indirect installment | 648,499 | 1,202 | 649,701 | ||||||||||||||||||||||||||
Consumer lines of credit | 832,071 | 597 | 832,668 | ||||||||||||||||||||||||||
Other | 45,183 | — | 45,183 | ||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Direct installment | $ | 1,100,324 | $ | 8,541 | $ | 1,108,865 | |||||||||||||||||||||||
Residential mortgages | 642,406 | 11,420 | 653,826 | ||||||||||||||||||||||||||
Indirect installment | 567,192 | 1,132 | 568,324 | ||||||||||||||||||||||||||
Consumer lines of credit | 731,788 | 746 | 732,534 | ||||||||||||||||||||||||||
Other | 36,437 | 3,500 | 39,937 | ||||||||||||||||||||||||||
Loans are designated as impaired when, in the opinion of management, based on current information and events, the collection of principal and interest in accordance with the loan contract is doubtful. Typically, the Corporation does not consider loans for impairment unless a sustained period of delinquency (i.e., 90-plus days) is noted or there are subsequent events that impact repayment probability (i.e., negative financial trends, bankruptcy filings, imminent foreclosure proceedings, etc.). Impairment is evaluated in the aggregate for consumer installment loans, residential mortgages, consumer lines of credit, commercial leases and commercial loan relationships less than $500. For commercial loan relationships greater than or equal to $500, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using a market interest rate or at the fair value of collateral if repayment is expected solely from the collateral. Consistent with the Corporation’s existing method of income recognition for loans, interest on impaired loans, except those classified as non-accrual, is recognized as income using the accrual method. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |||||||||||||||||||||||||||||
Following is a summary of information pertaining to originated loans considered to be impaired, by class of loans: | |||||||||||||||||||||||||||||
At or For the Year Ended | Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||
December 31, 2013 | Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | $ | 40,472 | $ | 62,034 | $ | — | $ | 37,376 | |||||||||||||||||||||
Commercial and industrial | 7,301 | 8,669 | — | 8,304 | |||||||||||||||||||||||||
Commercial leases | 734 | 734 | — | 758 | |||||||||||||||||||||||||
Total commercial loans and leases | 48,507 | 71,437 | — | 46,438 | |||||||||||||||||||||||||
Direct installment | 10,577 | 10,830 | — | 10,557 | |||||||||||||||||||||||||
Residential mortgages | 14,012 | 14,560 | — | 13,565 | |||||||||||||||||||||||||
Indirect installment | 1,202 | 2,633 | — | 1,127 | |||||||||||||||||||||||||
Consumer lines of credit | 597 | 668 | — | 573 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | 3,603 | 3,818 | 701 | 14,379 | |||||||||||||||||||||||||
Commercial and industrial | 122 | 130 | 123 | 126 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 3,725 | 3,948 | 824 | 14,505 | |||||||||||||||||||||||||
Direct installment | — | — | — | — | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | — | — | — | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial real estate | 44,075 | 65,852 | 701 | 51,755 | |||||||||||||||||||||||||
Commercial and industrial | 7,423 | 8,799 | 123 | 8,430 | |||||||||||||||||||||||||
Commercial leases | 734 | 734 | — | 758 | |||||||||||||||||||||||||
Total commercial loans and leases | 52,232 | 75,385 | 824 | 60,943 | |||||||||||||||||||||||||
Direct installment | 10,577 | 10,830 | — | 10,557 | |||||||||||||||||||||||||
Residential mortgages | 14,012 | 14,560 | — | 13,565 | |||||||||||||||||||||||||
Indirect installment | 1,202 | 2,633 | — | 1,127 | |||||||||||||||||||||||||
Consumer lines of credit | 597 | 668 | — | 573 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
At or For the Year Ended | Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||
December 31, 2012 | Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | $ | 37,119 | $ | 50,234 | $ | — | $ | 36,426 | |||||||||||||||||||||
Commercial and industrial | 7,074 | 9,597 | — | 6,992 | |||||||||||||||||||||||||
Commercial leases | 965 | — | — | 1,053 | |||||||||||||||||||||||||
Total commercial loans and leases | 45,158 | 59,831 | — | 44,471 | |||||||||||||||||||||||||
Direct installment | 8,541 | 8,693 | — | 6,443 | |||||||||||||||||||||||||
Residential mortgages | 11,414 | 11,223 | — | 9,059 | |||||||||||||||||||||||||
Indirect installment | 1,132 | 2,381 | — | 1,133 | |||||||||||||||||||||||||
Consumer lines of credit | 746 | 792 | — | 591 | |||||||||||||||||||||||||
Other | 3,500 | 3,500 | — | 3,500 | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | 12,623 | 21,877 | 2,136 | 14,522 | |||||||||||||||||||||||||
Commercial and industrial | 590 | 590 | 590 | 592 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 13,213 | 22,467 | 2,726 | 15,114 | |||||||||||||||||||||||||
Direct installment | — | — | — | — | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | — | — | — | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial real estate | 49,742 | 72,111 | 2,136 | 50,948 | |||||||||||||||||||||||||
Commercial and industrial | 7,664 | 10,187 | 590 | 7,584 | |||||||||||||||||||||||||
Commercial leases | 965 | — | — | 1,053 | |||||||||||||||||||||||||
Total commercial loans and leases | 58,371 | 82,298 | 2,726 | 59,585 | |||||||||||||||||||||||||
Direct installment | 8,541 | 8,693 | — | 6,443 | |||||||||||||||||||||||||
Residential mortgages | 11,414 | 11,223 | — | 9,059 | |||||||||||||||||||||||||
Indirect installment | 1,132 | 2,381 | — | 1,133 | |||||||||||||||||||||||||
Consumer lines of credit | 746 | 792 | — | 591 | |||||||||||||||||||||||||
Other | 3,500 | 3,500 | — | 3,500 | |||||||||||||||||||||||||
Interest income is generally no longer recognized once a loan becomes impaired. | |||||||||||||||||||||||||||||
The above tables do not include PCI loans with a recorded investment of $22,192 at December 31, 2013 and $16,623 at December 31, 2012. These tables do not reflect the additional allowance for loan losses relating to acquired loans in the following pools and categories: commercial real estate of $3,093; commercial and industrial of $786; direct installment of $727; residential mortgages of $970; and indirect installment of $324, totaling $5,900 at December 31, 2013 and commercial real estate of $1,955; commercial and industrial of $1,140; direct installment of $657; residential mortgages of $69; and indirect installment of $359, totaling $4,180 at December 31, 2012. | |||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||
TDRs are loans whose contractual terms have been modified in a manner that grants a concession to a borrower experiencing financial difficulties. TDRs typically result from loss mitigation activities and could include the extension of a maturity date, interest rate reduction, principal forgiveness, deferral or decrease in payments for a period of time and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of collateral. | |||||||||||||||||||||||||||||
Following is a summary of the composition of total TDRs: | |||||||||||||||||||||||||||||
December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Accruing: | |||||||||||||||||||||||||||||
Performing | $ | 10,220 | $ | 12,659 | |||||||||||||||||||||||||
Non-performing | 18,698 | 14,876 | |||||||||||||||||||||||||||
Non-accrual | 12,705 | 12,385 | |||||||||||||||||||||||||||
$ | 41,623 | $ | 39,920 | ||||||||||||||||||||||||||
TDRs that are accruing and performing include loans that the Corporation can reasonably estimate the timing and amount of the expected cash flows on such loans and for which the Corporation expects to fully collect the new carrying value of the loans. During 2013, the Corporation returned to performing status $2,952 in restructured loans, a majority of which were secured by residential mortgages, after these borrowers consistently met their modified obligations for more than six months. TDRs that are accruing and non-performing are comprised of both consumer and commercial loans that have not yet demonstrated a full six month repayment cycle based upon the modified terms though it is still expected that the Corporation will collect all future principal and interest payments. TDRs that are on non-accrual are not placed on accruing status until all delinquent principal and interest have been paid and the ultimate collectability of the remaining principal and interest is reasonably assured. Some loan modifications classified as TDRs may not ultimately result in the full collection of principal and interest under their modified terms, and could result in potential incremental losses which are factored into the allowance for loan losses. | |||||||||||||||||||||||||||||
Excluding purchased impaired loans, commercial loans over $500 whose terms have been modified in a TDR are generally placed on non-accrual, individually analyzed and measured for estimated impairment based on the fair value of the underlying collateral. The Corporation’s allowance for loan losses included specific reserves for commercial TDRs of $561 and $41 at December 31, 2013 and December 31, 2012, respectively, and pooled reserves for individual loans under $500 of $193 and $297 for those same periods, based on historical loss experience. Upon default, the amount of the recorded investment in the TDR in excess of the fair value of the collateral less estimated selling costs is generally considered a confirmed loss and is charged-off against the allowance for loan losses. | |||||||||||||||||||||||||||||
All other classes of loans, which are primarily secured by residential properties, whose terms have been modified in a TDR are pooled and measured for estimated impairment based on the expected net present value of the estimated future cash flows of the pool. The Corporation’s allowance for loan losses included pooled reserves for these classes of loans of $1,005 and $1,455 at December 31, 2013 and 2012, respectively. Upon default of an individual loan, the Corporation’s charge-off policy is followed accordingly for that class of loan. | |||||||||||||||||||||||||||||
The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: | |||||||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
Commercial real estate | 10 | $ | 4,439 | $ | 3,588 | 21 | $ | 4,067 | $ | 4,505 | |||||||||||||||||||
Commercial and industrial | — | — | — | 8 | 389 | 257 | |||||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | |||||||||||||||||||||||
Total commercial loans and leases | 10 | 4,439 | 3,588 | 29 | 4,456 | 4,762 | |||||||||||||||||||||||
Direct installment | 409 | 4,198 | 3,971 | 362 | 3,876 | 3,763 | |||||||||||||||||||||||
Residential mortgages | 54 | 2,464 | 2,366 | 56 | 2,232 | 2,814 | |||||||||||||||||||||||
Indirect installment | 28 | 117 | 107 | 31 | 169 | 151 | |||||||||||||||||||||||
Consumer lines of credit | 19 | 148 | 143 | 20 | 214 | 315 | |||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||
520 | $ | 11,366 | $ | 10,175 | 498 | $ | 10,947 | $ | 11,805 | ||||||||||||||||||||
Following is a summary of TDRs, by class of loans, for which there was a payment default, excluding loans that were either charged-off or cured by period end. Default occurs when a loan is 90 days or more past due and is within 12 months of restructuring. | |||||||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
of | Investment (1) | of | Investment (1) | ||||||||||||||||||||||||||
Contracts | Contracts | ||||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 737 | — | $ | — | |||||||||||||||||||||||
Commercial and industrial | 1 | 12 | — | — | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 2 | 749 | — | — | |||||||||||||||||||||||||
Direct installment | 76 | 380 | 38 | 249 | |||||||||||||||||||||||||
Residential mortgages | 7 | 303 | 5 | 229 | |||||||||||||||||||||||||
Indirect installment | 6 | 36 | 3 | 5 | |||||||||||||||||||||||||
Consumer lines of credit | 1 | 85 | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
92 | $ | 1,553 | 46 | $ | 483 | ||||||||||||||||||||||||
-1 | The recorded investment is as of period end. | ||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||
Following is a summary of changes in the allowance for loan losses, by loan class: | |||||||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provision | Balance at | ||||||||||||||||||||||||
Beginning | Offs | Charge- | for Loan | End of | |||||||||||||||||||||||||
of Year | Offs | Losses | Year | ||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 34,810 | $ | (5,465 | ) | $ | 1,799 | $ | (3,666 | ) | $ | 1,404 | $ | 32,548 | |||||||||||||||
Commercial and industrial | 31,849 | (5,124 | ) | 2,108 | (3,016 | ) | 3,770 | 32,603 | |||||||||||||||||||||
Commercial leases | 1,744 | (432 | ) | 179 | (253 | ) | 412 | 1,903 | |||||||||||||||||||||
Total commercial loans and leases | 68,403 | (11,021 | ) | 4,086 | (6,935 | ) | 5,586 | 67,054 | |||||||||||||||||||||
Direct installment | 15,130 | (9,059 | ) | 931 | (8,128 | ) | 10,822 | 17,824 | |||||||||||||||||||||
Residential mortgages | 5,155 | (1,345 | ) | 162 | (1,183 | ) | 1,864 | 5,836 | |||||||||||||||||||||
Indirect installment | 5,449 | (3,337 | ) | 773 | (2,564 | ) | 3,524 | 6,409 | |||||||||||||||||||||
Consumer lines of credit | 6,057 | (1,974 | ) | 274 | (1,700 | ) | 2,874 | 7,231 | |||||||||||||||||||||
Other | — | (965 | ) | — | (965 | ) | 1,495 | 530 | |||||||||||||||||||||
Total allowance on originated loans | 100,194 | (27,701 | ) | 6,226 | (21,475 | ) | 26,165 | 104,884 | |||||||||||||||||||||
Purchased credit-impaired loans | 759 | (299 | ) | — | (299 | ) | 540 | 1,000 | |||||||||||||||||||||
Other acquired loans | 3,421 | (2,530 | ) | (376 | ) | (2,906 | ) | 4,385 | 4,900 | ||||||||||||||||||||
Total allowance on acquired loans | 4,180 | (2,829 | ) | (376 | ) | (3,205 | ) | 4,925 | 5,900 | ||||||||||||||||||||
Total allowance | $ | 104,374 | $ | (30,530 | ) | $ | 5,850 | $ | (24,680 | ) | $ | 31,090 | $ | 110,784 | |||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 43,283 | $ | (8,688 | ) | $ | 1,765 | $ | (6,923 | ) | $ | (1,550 | ) | $ | 34,810 | ||||||||||||||
Commercial and industrial | 25,476 | (8,098 | ) | 693 | (7,405 | ) | 13,778 | 31,849 | |||||||||||||||||||||
Commercial leases | 1,556 | (509 | ) | 224 | (285 | ) | 473 | 1,744 | |||||||||||||||||||||
Total commercial loans and leases | 70,315 | (17,295 | ) | 2,682 | (14,613 | ) | 12,701 | 68,403 | |||||||||||||||||||||
Direct installment | 14,814 | (7,875 | ) | 942 | (6,933 | ) | 7,249 | 15,130 | |||||||||||||||||||||
Residential mortgages | 4,437 | (1,050 | ) | 194 | (856 | ) | 1,574 | 5,155 | |||||||||||||||||||||
Indirect installment | 5,503 | (2,926 | ) | 605 | (2,321 | ) | 2,267 | 5,449 | |||||||||||||||||||||
Consumer lines of credit | 5,447 | (2,137 | ) | 234 | (1,903 | ) | 2,513 | 6,057 | |||||||||||||||||||||
Other | 146 | (1,039 | ) | 14 | (1,025 | ) | 879 | — | |||||||||||||||||||||
Total allowance on originated loans | 100,662 | (32,322 | ) | 4,671 | (27,651 | ) | 27,183 | 100,194 | |||||||||||||||||||||
Purchased credit-impaired loans | — | — | — | — | 759 | 759 | |||||||||||||||||||||||
Other acquired loans | — | (254 | ) | 315 | 61 | 3,360 | 3,421 | ||||||||||||||||||||||
Total allowance on acquired loans | — | (254 | ) | 315 | 61 | 4,119 | 4,180 | ||||||||||||||||||||||
Total allowance | $ | 100,662 | $ | (32,576 | ) | $ | 4,986 | $ | (27,590 | ) | $ | 31,302 | $ | 104,374 | |||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 49,924 | $ | (21,018 | ) | $ | 594 | $ | (20,424 | ) | $ | 13,783 | $ | 43,283 | |||||||||||||||
Commercial and industrial | 24,682 | (3,642 | ) | 368 | (3,274 | ) | 4,068 | 25,476 | |||||||||||||||||||||
Commercial leases | 1,070 | (567 | ) | 75 | (492 | ) | 978 | 1,556 | |||||||||||||||||||||
Total commercial loans and leases | 75,676 | (25,227 | ) | 1,037 | (24,190 | ) | 18,829 | 70,315 | |||||||||||||||||||||
Direct installment | 14,941 | (8,874 | ) | 876 | (7,998 | ) | 7,871 | 14,814 | |||||||||||||||||||||
Residential mortgages | 4,578 | (1,261 | ) | 67 | (1,194 | ) | 1,053 | 4,437 | |||||||||||||||||||||
Indirect installment | 5,941 | (2,957 | ) | 501 | (2,456 | ) | 2,018 | 5,503 | |||||||||||||||||||||
Consumer lines of credit | 4,743 | (2,110 | ) | 213 | (1,897 | ) | 2,601 | 5,447 | |||||||||||||||||||||
Other | 241 | (1,194 | ) | 31 | (1,163 | ) | 1,068 | 146 | |||||||||||||||||||||
Total allowance on originated loans | 106,120 | (41,623 | ) | 2,725 | (38,898 | ) | 33,440 | 100,662 | |||||||||||||||||||||
Purchased credit-impaired loans | — | (208 | ) | 7 | (201 | ) | 201 | — | |||||||||||||||||||||
Other acquired loans | — | — | — | — | — | — | |||||||||||||||||||||||
Total allowance on acquired loans | — | (208 | ) | 7 | (201 | ) | 201 | — | |||||||||||||||||||||
Total allowance | $ | 106,120 | $ | (41,831 | ) | $ | 2,732 | $ | (39,099 | ) | $ | 33,641 | $ | 100,662 | |||||||||||||||
Following is a summary of the individual and collective originated allowance for loan losses and corresponding originated loan balances by class: | |||||||||||||||||||||||||||||
Allowance | Loans Outstanding | ||||||||||||||||||||||||||||
Individually | Collectively | Originated | Individually | Collectively | |||||||||||||||||||||||||
Evaluated | Evaluated | Loans | Evaluated | Evaluated | |||||||||||||||||||||||||
for | for | for | for | ||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 701 | $ | 31,847 | $ | 2,640,428 | $ | 30,133 | $ | 2,610,295 | |||||||||||||||||||
Commercial and industrial | 123 | 32,480 | 1,761,668 | 4,243 | 1,757,425 | ||||||||||||||||||||||||
Commercial leases | — | 1,903 | 158,895 | — | 158,895 | ||||||||||||||||||||||||
Total commercial loans and leases | 824 | 66,230 | 4,560,991 | 34,376 | 4,526,615 | ||||||||||||||||||||||||
Direct installment | — | 17,824 | 1,387,995 | — | 1,387,995 | ||||||||||||||||||||||||
Residential mortgages | — | 5,836 | 678,227 | — | 678,227 | ||||||||||||||||||||||||
Indirect installment | — | 6,409 | 649,701 | — | 649,701 | ||||||||||||||||||||||||
Consumer lines of credit | — | 7,231 | 832,668 | — | 832,668 | ||||||||||||||||||||||||
Other | — | 530 | 45,183 | — | 45,183 | ||||||||||||||||||||||||
$ | 824 | $ | 104,060 | $ | 8,154,765 | $ | 34,376 | $ | 8,120,389 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,136 | $ | 32,674 | $ | 2,448,471 | $ | 35,024 | $ | 2,413,447 | |||||||||||||||||||
Commercial and industrial | 590 | 31,259 | 1,555,301 | 1,624 | 1,553,677 | ||||||||||||||||||||||||
Commercial leases | — | 1,744 | 130,133 | — | 130,133 | ||||||||||||||||||||||||
Total commercial loans and leases | 2,726 | 65,677 | 4,133,905 | 36,648 | 4,097,257 | ||||||||||||||||||||||||
Direct installment | — | 15,130 | 1,108,865 | — | 1,108,865 | ||||||||||||||||||||||||
Residential mortgages | — | 5,155 | 653,826 | — | 653,826 | ||||||||||||||||||||||||
Indirect installment | — | 5,449 | 568,324 | — | 568,324 | ||||||||||||||||||||||||
Consumer lines of credit | — | 6,057 | 732,534 | — | 732,534 | ||||||||||||||||||||||||
Other | — | — | 39,937 | — | 39,937 | ||||||||||||||||||||||||
$ | 2,726 | $ | 97,468 | $ | 7,237,391 | $ | 36,648 | $ | 7,200,743 | ||||||||||||||||||||
The above table excludes acquired loans that were pooled into groups of loans for evaluating impairment. |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Premises and Equipment | ' | ||||||||
7. Premises and Equipment | |||||||||
Following is a summary of premises and equipment: | |||||||||
December 31 | 2013 | 2012 | |||||||
Land | $ | 34,234 | $ | 31,196 | |||||
Premises | 135,633 | 128,259 | |||||||
Equipment | 117,228 | 101,144 | |||||||
287,095 | 260,599 | ||||||||
Accumulated depreciation | (133,063 | ) | (120,232 | ) | |||||
$ | 154,032 | $ | 140,367 | ||||||
Depreciation expense for premises and equipment was $15,558 for 2013, $13,937 for 2012 and $12,457 for 2011. | |||||||||
The Corporation has operating leases extending to 2045 for certain land, office locations and equipment, many of which have renewal options. Leases that expire are generally expected to be replaced by other leases. Lease costs are expensed in accordance with ASC 840, Leases, taking into account escalation clauses. Rental expense was $10,443 for 2013, $8,784 for 2012 and $6,960 for 2011. | |||||||||
Total minimum rental commitments under such leases were $66,055 at December 31, 2013. Following is a summary of future minimum lease payments for years following December 31, 2013: | |||||||||
2014 | $ | 9,994 | |||||||
2015 | 8,769 | ||||||||
2016 | 7,743 | ||||||||
2017 | 7,131 | ||||||||
2018 | 5,545 | ||||||||
Later years | 26,873 |
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 | |||||||||||||||||||||
The following table shows a rollforward of goodwill by line of business: | |||||||||||||||||||||
Community | Wealth | Insurance | Consumer | Total | |||||||||||||||||
Banking | Manage- | Finance | |||||||||||||||||||
ment | |||||||||||||||||||||
Balance at January 1, 2012 | $ | 549,683 | $ | 8,020 | $ | 8,950 | $ | 1,809 | $ | 568,462 | |||||||||||
Goodwill additions | 107,093 | — | — | — | 107,093 | ||||||||||||||||
Balance at December 31, 2012 | 656,776 | 8,020 | 8,950 | 1,809 | 675,555 | ||||||||||||||||
Goodwill additions | 88,693 | — | — | — | 88,693 | ||||||||||||||||
Balance at December 31, 2013 | $ | 745,469 | $ | 8,020 | $ | 8,950 | $ | 1,809 | $ | 764,248 | |||||||||||
The Corporation recorded goodwill during 2013 and 2012 as a result of the purchase accounting adjustments relating to the acquisitions of PVF, ANNB and Parkvale. | |||||||||||||||||||||
The following table shows a summary of core deposit intangibles, customer and renewal lists and other intangible assets: | |||||||||||||||||||||
Core | Customer | Other | Total | ||||||||||||||||||
Deposit | and Renewal | Intangible | Finite-lived | ||||||||||||||||||
Intangibles | Lists | Assets | Intangibles | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Gross carrying amount | $ | 97,698 | $ | 10,970 | $ | 10,380 | $ | 119,048 | |||||||||||||
Accumulated amortization | (62,793 | ) | (6,407 | ) | (2,240 | ) | (71,440 | ) | |||||||||||||
$ | 34,905 | $ | 4,563 | $ | 8,140 | $ | 47,608 | ||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Gross carrying amount | $ | 87,056 | $ | 10,970 | $ | 1,859 | $ | 99,885 | |||||||||||||
Accumulated amortization | (55,095 | ) | (5,698 | ) | (1,241 | ) | (62,034 | ) | |||||||||||||
$ | 31,961 | $ | 5,272 | $ | 618 | $ | 37,851 | ||||||||||||||
Core deposit intangibles are being amortized primarily over 10 years using straight-line and accelerated methods. Customer and renewal lists and other intangible assets are being amortized over their estimated useful lives which range from eight to twelve years. | |||||||||||||||||||||
Amortization expense on finite-lived intangible assets totaled $8,407 for 2013, $8,924 for 2012 and $7,040 for 2011. Following is a summary of the expected amortization expense on finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2013: | |||||||||||||||||||||
2014 | $ | 8,615 | |||||||||||||||||||
2015 | 6,590 | ||||||||||||||||||||
2016 | 5,580 | ||||||||||||||||||||
2017 | 4,855 | ||||||||||||||||||||
2018 | 3,379 | ||||||||||||||||||||
Goodwill and other intangible assets are reviewed annually for impairment, and more frequently if impairment indicators exist. The Corporation completed this review in 2013 and 2012 and determined that its intangible assets are not impaired. |
Deposits
Deposits | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Deposits | ' | ||||||||||||
9. Deposits | |||||||||||||
Following is a summary of deposits: | |||||||||||||
December 31 | 2013 | 2012 | |||||||||||
Non-interest bearing demand | $ | 2,200,081 | $ | 1,738,195 | |||||||||
Savings and NOW | 5,392,078 | 4,808,121 | |||||||||||
Certificates and other time deposits | 2,606,073 | 2,535,858 | |||||||||||
$ | 10,198,232 | $ | 9,082,174 | ||||||||||
Time deposits of $100,000 or more were $857,470 and $795,113 at December 31, 2013 and 2012, respectively. Following is a summary of these time deposits by remaining maturity at December 31, 2013: | |||||||||||||
Certificates | Other | Total | |||||||||||
of Deposit | Time | ||||||||||||
Deposits | |||||||||||||
Three months or less | $ | 117,298 | $ | 10,297 | $ | 127,595 | |||||||
Three to six months | 121,512 | 8,659 | 130,171 | ||||||||||
Six to twelve months | 190,656 | 25,468 | 216,124 | ||||||||||
Over twelve months | 258,989 | 124,591 | 383,580 | ||||||||||
$ | 688,455 | $ | 169,015 | $ | 857,470 | ||||||||
Following is a summary of the scheduled maturities of certificates and other time deposits for the years following December 31, 2013: | |||||||||||||
2014 | $ | 1,499,828 | |||||||||||
2015 | 485,809 | ||||||||||||
2016 | 279,663 | ||||||||||||
2017 | 211,214 | ||||||||||||
2018 | 93,915 | ||||||||||||
Later years | 35,644 |
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Short-Term Borrowings | ' | ||||||||
10. Short-Term Borrowings | |||||||||
Following is a summary of short-term borrowings: | |||||||||
December 31 | 2013 | 2012 | |||||||
Securities sold under repurchase agreements | $ | 841,741 | $ | 807,820 | |||||
Federal funds purchased | 270,000 | 140,000 | |||||||
Subordinated notes | 129,498 | 135,318 | |||||||
$ | 1,241,239 | $ | 1,083,138 | ||||||
Securities sold under repurchase agreements is comprised of customer repurchase agreements, which are sweep accounts with next day maturities utilized by larger commercial customers to earn interest on their funds. Securities are pledged to these customers in an amount equal to the outstanding balance. | |||||||||
The weighted average interest rates on short-term borrowings during 2013, 2012 and 2011 were 0.43%, 0.53% and 0.84%, respectively. The weighted average interest rates on short-term borrowings at December 31, 2013, 2012 and 2011 were 0.41%, 0.47% and 0.71%, respectively. |
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
11. Long-Term Debt | |||||||||
Following is a summary of long-term debt: | |||||||||
December 31 | 2013 | 2012 | |||||||
Federal Home Loan Bank advances | $ | 50,076 | $ | 88 | |||||
Subordinated notes | 84,637 | 79,897 | |||||||
Other subordinated debt | 8,637 | 8,850 | |||||||
Convertible subordinated notes | 578 | 590 | |||||||
$ | 143,928 | $ | 89,425 | ||||||
The Corporation’s banking affiliate has available credit with the FHLB of $3,349,926, of which $50,076 was used as of December 31, 2013. These advances are secured by loans collateralized by 1-4 family mortgages and FHLB stock and are scheduled to mature in various amounts periodically through the year 2019. Effective interest rates paid on these advances ranged from 1.06% to 4.19% for 2013 and 3.78% to 4.19% for 2012. | |||||||||
Subordinated notes are unsecured and subordinated to other indebtedness of the Corporation. The long-term subordinated notes mature in various amounts periodically through the year 2022. At December 31, 2013, all of the long-term subordinated debt is redeemable by the holders prior to maturity at a discount equal to three to twelve months of interest, depending on the term of the note. The Corporation may require the holder to give 30 days prior written notice. No sinking fund is required and none has been established to retire the debt. The weighted average interest rate on long-term subordinated debt was 2.77% at December 31, 2013, 3.18% at December 31, 2012 and 3.85% at December 31, 2011. | |||||||||
The Corporation assumed other subordinated notes totaling $8,000 in conjunction with an acquisition. The Corporation recorded a purchase accounting adjustment of $1,275, which is amortizing over the life of the notes, to reflect these notes at their fair value at the time of the acquisition. These subordinated notes carry a fixed-rate of 8.0% and mature in 2016. The Corporation may elect to redeem the notes, subject to regulatory approval, in whole or in part, at any time at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest. The noteholders have been notified of the Corporation’s intention to redeem the notes by April 1, 2014. | |||||||||
The Corporation assumed 5% convertible subordinated notes in conjunction with an acquisition. These subordinated notes mature in 2018 and are convertible into shares of the Corporation’s common stock at any time prior to maturity at $12.50 per share. As of December 31, 2013, the Corporation has reserved 46,200 shares of common stock for issuance in the event the convertible subordinated notes are converted. The Corporation may elect to redeem the notes, subject to regulatory approval, in whole or in part, at any time at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest. The noteholders have been notified of the Corporation’s intention to redeem the notes in February 2014. | |||||||||
Scheduled annual maturities for all of the long-term debt for the years following December 31, 2013 are as follows: | |||||||||
2014 | $ | 28,546 | |||||||
2015 | 23,023 | ||||||||
2016 | 75,409 | ||||||||
2017 | 10,445 | ||||||||
2018 | 3,077 | ||||||||
Later years | 3,428 |
Junior_Subordinated_Debt
Junior Subordinated Debt | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||
Junior Subordinated Debt | ' | ||||||||||||||||||||||
12. Junior Subordinated Debt | |||||||||||||||||||||||
The Corporation has three unconsolidated subsidiary trusts (collectively, the Trusts): F.N.B. Statutory Trust II, Omega Financial Capital Trust I and Sun Bancorp Statutory Trust I. One hundred percent of the common equity of each Trust is owned by the Corporation. The Trusts were formed for the purpose of issuing Corporation-obligated mandatorily redeemable capital securities (TPS) to third-party investors. The proceeds from the sale of TPS and the issuance of common equity by the Trusts were invested in junior subordinated debt securities (subordinated debt) issued by the Corporation, which are the sole assets of each Trust. Since the third-party investors are the primary beneficiaries, the Trusts qualify as variable interest entities (VIEs) and are not consolidated in the Corporation’s financial statements. The Trusts pay dividends on the TPS at the same rate as the distributions paid by the Corporation on the junior subordinated debt held by the Trusts. Omega Financial Capital Trust I and Sun Bancorp Statutory Trust I were acquired as a result of a previous acquisition. | |||||||||||||||||||||||
Distributions on the subordinated debt issued to the Trusts are recorded as interest expense by the Corporation. The TPS are subject to mandatory redemption, in whole or in part, upon repayment of the subordinated debt. The TPS are eligible for redemption, at any time, at the Corporation’s discretion. The subordinated debt, net of the Corporation’s investment in the Trusts, qualifies as tier 1 capital under the Board of Governors of the Federal Reserve System (FRB) guidelines. Under recently issued capital guidelines, these TPS obligations are subject to phase-out limitations as to their continued eligibility to qualify as tier 1 capital when total assets of the Corporation exceed $15,000,000. The Corporation has entered into agreements which, when taken collectively, fully and unconditionally guarantee the obligations under the TPS subject to the terms of each of the guarantees. | |||||||||||||||||||||||
During the second quarter of 2013, $15,000 of the Corporation-issued TPS was repurchased at a discount and the related debt extinguished. This $15,000 was opportunistically purchased at auction and represents a portion of the underlying collateral of a pooled TPS that was liquidated by the trustee. During the fourth quarter of 2013, the Corporation redeemed $115,000 of the Corporation-issued TPS in conjunction with its capital raise completed during the same quarter. The regulatory capital ratios at December 31, 2013 reflect the reduction of $130,000 of TPS. | |||||||||||||||||||||||
The following table provides information relating to the Trusts as of December 31, 2013: | |||||||||||||||||||||||
Trust | Common | Junior | Stated | Interest | |||||||||||||||||||
Preferred | Securities | Subordinated | Maturity | Rate | |||||||||||||||||||
Securities | Debt | Date | |||||||||||||||||||||
F.N.B. Statutory Trust II | $ | 21,500 | $ | 665 | $ | 22,165 | 6/15/36 | 1.89 | % | Variable; LIBOR + 165 basis points (bps) | |||||||||||||
Omega Financial Capital Trust I | 36,000 | 1,114 | 36,029 | 10/18/34 | 2.44 | % | Variable; LIBOR + 219 bps | ||||||||||||||||
Sun Bancorp Statutory Trust I | 16,500 | 511 | 17,011 | 2/22/31 | 10.2 | % | Fixed | ||||||||||||||||
$ | 74,000 | $ | 2,290 | $ | 75,205 | ||||||||||||||||||
The Sun Bancorp Statutory Trust I holders have been notified of the Corporation’s intention to redeem their debt in February 2014. |
Derivative_Instruments
Derivative Instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Derivative Instruments | ' | ||||||||||||||||
13. Derivative Instruments | |||||||||||||||||
The Corporation is exposed to certain risks arising from both its business operations and economic conditions. The Corporation principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Corporation manages economic risks, including interest rate risk, primarily by managing the amount, source, and duration of its assets and liabilities, and through the use of derivative instruments. Interest rate swaps are the primary derivative instrument used by the Corporation for interest rate management. The Corporation also uses derivative instruments to facilitate transactions on behalf of its customers. | |||||||||||||||||
Commercial Borrower Derivatives | |||||||||||||||||
The Corporation enters into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. The Corporation then enters into positions with a derivative counterparty in order to offset its exposure on the fixed components of the customer agreements. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. The Corporation seeks to minimize counterparty credit risk by entering into transactions with only high-quality institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815, Derivatives and Hedging. The interest rate swap agreement with the loan customer and with the counterparty is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period earnings as other income or other expense. | |||||||||||||||||
Risk Management Derivatives | |||||||||||||||||
The Corporation entered into four separate interest rate derivative agreements between December 2012 and August 2013 in order to manage its net interest income by increasing the stability of the net interest income over a range of potential interest rate scenarios. Interest rate swaps are also used to modify the interest rate characteristics of designated commercial loans from variable to fixed in order to reduce the impact of changes in future cash flows due to interest rate changes. These agreements are designated as cash flow hedges (i.e., hedging the exposure to variability in expected future cash flows). The effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings in the same line item associated with the forecasted transaction when the forecasted transaction affects earnings. The ineffective portion of the gain or loss is reported in earnings immediately. Gains and losses from hedge ineffectiveness recognized in the consolidated statement of comprehensive income were not material for the year ended December 31, 2013. | |||||||||||||||||
In accordance with the requirements of ASU No. 2011-04, the Corporation made an accounting policy election to use the portfolio exception with respect to measuring derivative instruments, consistent with the guidance in ASC 820. The Corporation further documents that it meets the criteria for this exception as follows: | |||||||||||||||||
• | The Corporation manages credit risk for its derivative positions on a counterparty-by-counterparty basis, consistent with its risk management strategy for such transactions. The Corporation manages credit risk by considering indicators of risk such as credit ratings, and by negotiating terms in its master netting arrangements and credit support annex documentation with each individual counterparty. Review of credit risk plays a central role in the decision of which counterparties to consider for such relationships and when deciding with whom it will enter into derivative transactions. | ||||||||||||||||
• | Since the effective date of ASC 820, the Corporation’s management has monitored and measured credit risk and calculated credit valuation adjustments (CVAs) for its derivative transactions on a counterparty-by-counterparty basis. Management receives reports from an independent third-party valuation specialist on a monthly basis to assist in determining CVAs by counterparty for purposes of reviewing and managing its credit risk exposures. Since the portfolio exception applies only to the fair value measurement and not to the financial statement presentation, the portfolio-level adjustments are then allocated in a reasonable and consistent manner each period to the individual assets or liabilities that make up the counterparty derivative portfolio, in accordance with the Corporation’s accounting policy elections. | ||||||||||||||||
The Corporation notes that key market participants take into account the existence of such arrangements that mitigate credit risk exposure in the event of default. As such, the Corporation formally elects to apply the portfolio exception in ASC 820 with respect to measuring counterparty credit risk for all of its derivative transactions subject to master netting arrangements. | |||||||||||||||||
At December 31, 2013, the Corporation was party to 312 swaps with customers with notional amounts totaling $828,576 and 278 swaps with derivative counterparties with notional amounts totaling $1,028,576. | |||||||||||||||||
Derivative assets are classified in the balance sheet under “other assets” and derivative liabilities are classified in the balance sheet under “other liabilities.” The following tables present information about derivative assets and derivative liabilities that are subject to enforceable master netting agreements as well as those not subject to enforceable master netting arrangements: | |||||||||||||||||
Gross | Gross | Net Amount | |||||||||||||||
Amount | Amounts | Presented in | |||||||||||||||
Offset in | the Balance | ||||||||||||||||
the Balance | Sheet | ||||||||||||||||
Sheet | |||||||||||||||||
Offsetting of Derivative Assets: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Derivative assets subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 3,547 | — | $ | 3,547 | ||||||||||||
Equity contracts | 32 | — | 32 | ||||||||||||||
Derivative assets not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 29,738 | — | 29,738 | ||||||||||||||
Total derivative assets | $ | 33,317 | — | $ | 33,317 | ||||||||||||
December 31, 2012 | |||||||||||||||||
Derivative assets subject to master netting arrangement: | |||||||||||||||||
Equity contracts | $ | 16 | — | $ | 16 | ||||||||||||
Derivative assets not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 57,992 | — | 57,992 | ||||||||||||||
Total derivative assets | $ | 58,008 | — | $ | 58,008 | ||||||||||||
Offsetting of Derivative Liabilities: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Derivative liabilities subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 40,323 | — | $ | 40,323 | ||||||||||||
Derivative liabilities not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 3,014 | — | 3,014 | ||||||||||||||
Equity contracts | 32 | — | 32 | ||||||||||||||
Total derivative liabilities | $ | 43,369 | — | $ | 43,369 | ||||||||||||
December 31, 2012 | |||||||||||||||||
Derivative liabilities subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 58,134 | — | $ | 58,134 | ||||||||||||
Derivative liabilities not subject to master netting arrangement: | |||||||||||||||||
Equity contracts | 16 | — | 16 | ||||||||||||||
Total derivative liabilities | $ | 58,150 | — | $ | 58,150 | ||||||||||||
The following tables present a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheet to the net amounts that would result in the event of offset: | |||||||||||||||||
Gross Amounts Not Offset in | |||||||||||||||||
the Balance Sheet | |||||||||||||||||
Net Amount | Financial | Cash | Net Amount | ||||||||||||||
Presented in the | Instruments | Collateral | |||||||||||||||
Balance Sheet | Received | ||||||||||||||||
Derivative Assets: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Counterparty B | $ | 24 | $ | 24 | $ | — | $ | — | |||||||||
Counterparty D | 566 | 566 | — | — | |||||||||||||
Counterparty E | 1,696 | 1,696 | — | — | |||||||||||||
Counterparty F | 355 | 273 | — | 82 | |||||||||||||
Counterparty G | 251 | 251 | — | — | |||||||||||||
Counterparty I | 634 | 634 | — | — | |||||||||||||
Counterparty J | 53 | — | 53 | — | |||||||||||||
$ | 3,579 | $ | 3,444 | $ | 53 | $ | 82 | ||||||||||
December 31, 2012 | |||||||||||||||||
Counterparty E | $ | 16 | — | — | $ | 16 | |||||||||||
Derivative Liabilities: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Counterparty A | $ | 4,934 | $ | 4,934 | $ | — | $ | — | |||||||||
Counterparty B | 3,249 | 3,249 | — | — | |||||||||||||
Counterparty C | 1,431 | 1,431 | — | — | |||||||||||||
Counterparty D | 9,614 | 9,614 | — | — | |||||||||||||
Counterparty E | 6,257 | 6,257 | — | — | |||||||||||||
Counterparty F | 13 | 13 | — | — | |||||||||||||
Counterparty G | 5,309 | 5,309 | — | — | |||||||||||||
Counterparty H | 2,257 | 125 | — | 2,132 | |||||||||||||
Counterparty I | 5,649 | 5,649 | — | — | |||||||||||||
Counterparty J | 1,610 | — | 1,610 | — | |||||||||||||
$ | 40,323 | $ | 36,581 | $ | 1,610 | $ | 2,132 | ||||||||||
December 31, 2012 | |||||||||||||||||
Counterparty A | $ | 8,393 | $ | 8,393 | — | $ | — | ||||||||||
Counterparty B | 5,601 | 5,601 | — | — | |||||||||||||
Counterparty C | 2,145 | 2,145 | — | — | |||||||||||||
Counterparty D | 12,354 | 12,354 | — | — | |||||||||||||
Counterparty E | 8,846 | 8,846 | — | — | |||||||||||||
Counterparty F | 353 | 282 | — | 71 | |||||||||||||
Counterparty G | 5,497 | 5,497 | — | — | |||||||||||||
Counterparty H | 3,937 | 1,775 | — | 2,162 | |||||||||||||
Counterparty I | 11,008 | 11,008 | — | — | |||||||||||||
$ | 58,134 | $ | 55,901 | — | $ | 2,233 | |||||||||||
The following table presents the effect of the Corporation’s derivative financial instruments on the income statement: | |||||||||||||||||
Income | Year Ended December 31, | ||||||||||||||||
Statement | |||||||||||||||||
Location | 2013 | 2012 | 2011 | ||||||||||||||
Interest Rate Products | Other income | $ | (39 | ) | $ | 167 | $ | (635 | ) | ||||||||
The Corporation has agreements with each of its derivative counterparties that contain a provision where if the Corporation defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Corporation could also be declared in default on its derivative obligations. The Corporation also has agreements with certain of its derivative counterparties that contain a provision that if the Corporation fails to maintain its status as a well-capitalized institution, then the counterparty could terminate the derivative positions and the Corporation would be required to settle its obligations under the agreements. Certain of the Corporation’s agreements with its derivative counterparties contain provisions where if a material or adverse change occurs that materially changes the Corporation’s creditworthiness in an adverse manner, the Corporation may be required to fully collateralize its obligations under the derivative instrument. | |||||||||||||||||
Interest rate swap agreements generally require posting of collateral by either party under certain conditions. As of December 31, 2013 and 2012, the fair value of counterparty derivatives in a net liability position, which includes accrued interest but excludes any adjustment for non-performance risk related to these agreements, was $38,239 and $59,341, respectively. At December 31, 2013, the Corporation has posted collateral with derivative counterparties with a fair value of $37,427 and cash collateral of $1,976. At December 31, 2012, the Corporation had posted collateral with derivative counterparties with a fair value of $60,062, of with none was cash collateral. Additionally, if the Corporation had breached its agreements with its derivative counterparties it would be required to settle its obligations under the agreements at the termination value and would be required to pay an additional $2,224 and $2,428 as of December 31, 2013 and 2012, respectively, in excess of amounts previously posted as collateral with the respective counterparty. | |||||||||||||||||
The Corporation has entered into interest rate lock commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans to secondary market investors. These arrangements are considered derivative instruments. The fair values of the Corporation’s rate lock commitments to customers and commitments with investors at December 31, 2013 and 2012 are not material. |
Commitments_Credit_Risk_and_Co
Commitments, Credit Risk and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments, Credit Risk and Contingencies | ' | ||||||||
14. Commitments, Credit Risk and Contingencies | |||||||||
The Corporation has commitments to extend credit and standby letters of credit that involve certain elements of credit risk in excess of the amount stated in the consolidated balance sheet. The Corporation’s exposure to credit loss in the event of non-performance by the customer is represented by the contractual amount of those instruments. The credit risk associated with loan commitments and standby letters of credit is essentially the same as that involved in extending loans to customers and is subject to normal credit policies. Since many of these commitments expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. | |||||||||
Following is a summary of off-balance sheet credit risk information: | |||||||||
December 31 | 2013 | 2012 | |||||||
Commitments to extend credit | $ | 2,897,748 | $ | 2,600,355 | |||||
Standby letters of credit | 114,298 | 130,912 | |||||||
At December 31, 2013, funding of 81.3% of the commitments to extend credit was dependent on the financial condition of the customer. The Corporation has the ability to withdraw such commitments at its discretion. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Based on management’s credit evaluation of the customer, collateral may be deemed necessary. Collateral requirements vary and may include accounts receivable, inventory, property, plant and equipment and income-producing commercial properties. | |||||||||
Standby letters of credit are conditional commitments issued by the Corporation that may require payment at a future date. The credit risk involved in issuing letters of credit is quantified on a quarterly basis, through the review of historical performance of the Corporation’s portfolios and allocated as a liability on the Corporation’s balance sheet. | |||||||||
The Corporation and its subsidiaries are involved in various pending and threatened legal proceedings in which claims for monetary damages and other relief are asserted. These actions include claims brought against the Corporation and its subsidiaries where the Corporation or a subsidiary acted as one or more of the following: a depository bank, lender, underwriter, fiduciary, financial advisor, broker or was engaged in other business activities. Although the ultimate outcome for any asserted claim cannot be predicted with certainty, the Corporation believes that it and its subsidiaries have valid defenses for all asserted claims. Reserves are established for legal claims when losses associated with the claims are judged to be probable and the amount of the loss can be reasonably estimated. | |||||||||
Based on information currently available, advice of counsel, available insurance coverage and established reserves, the Corporation does not anticipate, at the present time, that the aggregate liability, if any, arising out of such legal proceedings will have a material adverse effect on the Corporation’s consolidated financial position. However, the Corporation cannot determine whether or not any claims asserted against it will have a material adverse effect on its consolidated results of operations in any future reporting period. | |||||||||
Annapolis Bancorp, Inc. Stockholder Litigation | |||||||||
On November 8, 2012, a purported stockholder of ANNB filed a derivative complaint on behalf of ANNB in the Circuit Court for Anne Arundel County, Maryland, captioned Andera v. Lerner, et al., Case no. 02C12173766, and naming as defendants ANNB, its board of directors and the Corporation. The lawsuit makes various allegations against the defendants, including that the merger consideration is inadequate and undervalues the company, that the director defendants breached their fiduciary duties to ANNB in approving the merger, and that the Corporation aided and abetted those alleged breaches. The lawsuit generally seeks an injunction barring the defendants from consummating the merger. In addition, the lawsuit seeks rescission of the merger agreement to the extent already implemented or, in the alternative, award of rescissory damages, an accounting to plaintiff for all damages caused by the defendants and for all profits and special benefits obtained as a result of the defendants’ alleged breaches of fiduciary duties, and an award of the costs and expenses incurred in the action, including a reasonable allowance for counsel fees and expert fees. | |||||||||
On February 7, 2013, the plaintiff filed an amended complaint with additional allegations regarding certain purported non-disclosures relating to the proxy statement/prospectus for the pending merger filed with the SEC on January 23, 2013. On February 22, 2013, ANNB, the ANNB board of directors, the Corporation and the plaintiff reached an agreement in principle to settle the action, and executed a Stipulation of Settlement on June 28, 2013, that memorialized the agreement in writing. As part of the agreement to settle the action, the Corporation and ANNB agreed to disclose additional information in the proxy statement/prospectus filed on February 25, 2013. No substantive term of the merger agreement was modified as part of this settlement. On July 3, 2013, the plaintiff filed a motion for preliminary approval of the settlement, and on September 18, 2013, the court entered an order preliminarily approving the settlement. On November 25, 2013, the plaintiff filed a motion for final approval of the settlement. On December 10, 2013, the court held a final fairness hearing and, at the conclusion of the hearing, granted final approval of the settlement. | |||||||||
BCSB Bancorp Stockholder Litigation | |||||||||
On December 9, 2013, a purported stockholder of BCSB filed a putative class action and derivative complaint in the Circuit Court for Baltimore County, Maryland, captioned Darr v. BCSB Bancorp, Inc., et al., at Case No. 03-C-13-014034, and naming as defendants BCSB, its board of directors and the Corporation. The lawsuit makes various allegations against the defendants relating to the Corporation’s proposed acquisition of BCSB, including that the Registration Statement on Form S-4 filed on November 19, 2013 in connection with the proposed acquisition omits certain information allegedly necessary for BCSB’s stockholders to make an informed vote on the proposed transaction, that the director defendants breached their fiduciary duties to BCSB in approving the proposed transaction and that the Corporation aided and abetted those alleged breaches. The lawsuit generally sought an injunction barring the defendants from consummating the merger transaction. Alternatively, if the companies were to complete the transaction before the court entered judgment, the lawsuit sought rescission of the merger or, in the alternative, rescissory damages, an accounting for all resulting damages and for all profits and any special benefits defendants obtained as a result of the alleged breaches of fiduciary duty, and an award for the costs and expenses incurred in the lawsuit, including attorneys’ fees and costs. On January 30, 2014, the plaintiff voluntarily dismissed its complaint. |
Stock_Incentive_Plans
Stock Incentive Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Stock Incentive Plans | ' | ||||||||||||||||||||||||
15. Stock Incentive Plans | |||||||||||||||||||||||||
Restricted Stock | |||||||||||||||||||||||||
The Corporation issues restricted stock awards, consisting of both restricted stock and restricted stock units, to key employees under its Incentive Compensation Plans (Plans). The grant date fair value of the restricted stock awards is equal to the price of the Corporation’s common stock on the grant date. During 2013, 2012 and 2011, the Corporation issued 361,664, 321,295 and 407,980 restricted stock awards, respectively, with weighted average grant date fair values of $4,016, $3,884 and $4,110, respectively, under these Plans. The Corporation has available up to 2,716,902 shares of common stock to issue under these Plans. | |||||||||||||||||||||||||
Under the Plans, more than half of the restricted stock awards granted to management are earned if the Corporation meets or exceeds certain financial performance results when compared to its peers. These performance-related awards are expensed ratably from the date that the likelihood of meeting the performance measure is probable through the end of a four-year vesting period. The service-based awards are expensed ratably over a three-year vesting period. The Corporation also issues discretionary service-based awards to certain employees that vest over five years. | |||||||||||||||||||||||||
The unvested restricted stock awards are eligible to receive cash dividends or dividend equivalents which are ultimately used to purchase additional shares of stock. Any additional shares of stock received as a result of cash dividends are subject to forfeiture if the requisite service period is not completed or the specified performance criteria are not met. These awards are subject to certain accelerated vesting provisions upon retirement, death, disability or in the event of a change of control as defined in the award agreements. | |||||||||||||||||||||||||
Share-based compensation expense related to restricted stock awards was $5,063, $3,758 and $4,396 for the years ended December 31, 2013, 2012 and 2011, the tax benefit of which was $1,772, $1,315 and $1,538, respectively. | |||||||||||||||||||||||||
The following table summarizes certain information concerning restricted stock awards: | |||||||||||||||||||||||||
2013 | Weighted | 2012 | Weighted | 2011 | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Grant | Grant | Grant | |||||||||||||||||||||||
Price per | Price per | Price per | |||||||||||||||||||||||
Share | Share | Share | |||||||||||||||||||||||
Unvested shares outstanding at beginning of year | 1,913,073 | $ | 9.17 | 1,846,115 | $ | 8.44 | 1,309,489 | $ | 8.52 | ||||||||||||||||
Granted | 361,664 | 11.1 | 321,295 | 12.09 | 407,980 | 10.07 | |||||||||||||||||||
Net adjustment due to performance | 165,545 | 9.6 | 28,181 | 8.31 | 229,516 | 8.4 | |||||||||||||||||||
Vested | (734,129 | ) | 7.9 | (179,767 | ) | 8.24 | (172,029 | ) | 13.57 | ||||||||||||||||
Forfeited | (37,828 | ) | 10.42 | (179,132 | ) | 8.5 | (1,749 | ) | 10.09 | ||||||||||||||||
Dividend reinvestment | 60,708 | 11.82 | 76,381 | 11.19 | 72,908 | 10.01 | |||||||||||||||||||
Unvested shares outstanding at end of year | 1,729,033 | 10.23 | 1,913,073 | 9.17 | 1,846,115 | 8.44 | |||||||||||||||||||
The total fair value of shares vested was $8,259, $2,193 and $1,767 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
As of December 31, 2013, there was $4,891 of unrecognized compensation cost related to unvested restricted stock awards granted, $71 of which is subject to accelerated vesting under the plan’s immediate vesting upon retirement provision for awards granted prior to the adoption of ASC 718. The components of the restricted stock awards as of December 31, 2013 are as follows: | |||||||||||||||||||||||||
Service- | Performance- | Total | |||||||||||||||||||||||
Based | Based | ||||||||||||||||||||||||
Awards | Awards | ||||||||||||||||||||||||
Unvested shares | 446,239 | 1,282,794 | 1,729,033 | ||||||||||||||||||||||
Unrecognized compensation expense | $ | 1,671 | $ | 3,220 | $ | 4,891 | |||||||||||||||||||
Intrinsic value | $ | 5,632 | $ | 16,189 | $ | 21,821 | |||||||||||||||||||
Weighted average remaining life (in years) | 2.16 | 2.22 | 2.2 | ||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||||
The Corporation did not grant stock options during 2013, 2012 or 2011. All outstanding stock options were granted at prices equal to the fair value at the date of the grant, are primarily exercisable within ten years from the date of the grant and are fully vested. The Corporation issues shares of treasury stock or authorized but unissued shares to satisfy stock options exercised. Shares issued upon the exercise of stock options were 69,429 for 2013, 182,188 for 2012 and 8,389 for 2011. | |||||||||||||||||||||||||
The following table summarizes certain information concerning stock options: | |||||||||||||||||||||||||
2013 | Weighted | 2012 | Weighted | 2011 | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Price per | Price per | Price per | |||||||||||||||||||||||
Share | Share | Share | |||||||||||||||||||||||
Options outstanding at beginning of year | 640,050 | $ | 13.21 | 586,020 | $ | 14.93 | 770,610 | $ | 14.28 | ||||||||||||||||
Assumed from acquisition | 274,964 | 11.16 | 627,808 | 10.41 | — | — | |||||||||||||||||||
Exercised | (69,429 | ) | 7.46 | (182,188 | ) | 8.87 | (8,389 | ) | 2.68 | ||||||||||||||||
Forfeited | (312,061 | ) | 15.58 | (391,590 | ) | 13.32 | (176,201 | ) | 12.67 | ||||||||||||||||
Options outstanding and exercisable at end of year | 533,524 | 11.51 | 640,050 | 13.21 | 586,020 | 14.93 | |||||||||||||||||||
Upon consummation of the Corporation’s acquisitions, all outstanding stock options issued by the acquired companies were converted into equivalent Corporation stock options. | |||||||||||||||||||||||||
The following table summarizes information about stock options outstanding at December 31, 2013: | |||||||||||||||||||||||||
Range of Exercise | Options | Weighted Average | Weighted Average | ||||||||||||||||||||||
Prices | Outstanding | Remaining | Exercise Price | ||||||||||||||||||||||
and Exercisable | Contractual Years | ||||||||||||||||||||||||
$3.45 - $5.18 | 57,517 | 5.33 | $ | 4.32 | |||||||||||||||||||||
$5.19 - $7.78 | 159,503 | 5.21 | 6.14 | ||||||||||||||||||||||
$7.79 - $11.68 | — | — | — | ||||||||||||||||||||||
$11.69 - $17.54 | 259,927 | 3.11 | 12.67 | ||||||||||||||||||||||
$17.55 - $26.32 | 16,375 | 0 | 18.51 | ||||||||||||||||||||||
$26.33 - $36.42 | 40,202 | 0.79 | 32.81 | ||||||||||||||||||||||
533,524 | |||||||||||||||||||||||||
The intrinsic value of outstanding and exercisable stock options at December 31, 2013 was $559. | |||||||||||||||||||||||||
The following table summarizes certain information relating to stock options exercised: | |||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Proceeds from stock options exercised | $ | 365 | $ | 864 | $ | 22 | |||||||||||||||||||
Tax benefit recognized from stock options exercised | 79 | 96 | 22 | ||||||||||||||||||||||
Intrinsic value of stock options exercised | 318 | 435 | 63 | ||||||||||||||||||||||
Warrants | |||||||||||||||||||||||||
In conjunction with its participation in the CPP, the Corporation issued to the UST a warrant to purchase up to 1,302,083 shares of the Corporation’s common stock. Pursuant to Section 13(H) of the Warrant to Purchase Common Stock, the number of shares of common stock issuable upon exercise of the warrant has been reduced in half to 651,042 shares as of June 16, 2009, the date the Corporation completed a public offering. The warrant, which expires in 2019, has an exercise price of $11.52 per share. | |||||||||||||||||||||||||
In connection with the Parkvale acquisition, the warrant issued by Parkvale to the UST under the CPP was converted into a warrant to purchase up to 819,640 shares of the Corporation’s common stock. This warrant, which was recorded at its fair value on January 1, 2012, expires in 2018 and has an exercise price of $5.81 per share. | |||||||||||||||||||||||||
In conjunction with the ANNB acquisition, the warrant issued by ANNB to the UST under the CPP has been converted into a warrant to purchase up to 342,564 shares of the Corporation’s common stock. The warrant, which was recorded at its fair value on April 6, 2013, expires in 2019 and has an exercise price of $3.57 per share. |
Retirement_Plans
Retirement Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Retirement Plans | ' | ||||||||||||||||
16. Retirement Plans | |||||||||||||||||
The Corporation sponsors the Retirement Income Plan (RIP), a qualified noncontributory defined benefit pension plan that covered substantially all salaried employees hired prior to January 1, 2008. The RIP covers employees who satisfied minimum age and length of service requirements. During 2006, the Corporation amended the RIP such that effective January 1, 2007 benefits were earned based on the employee’s compensation each year. The Corporation’s funding guideline has been to make annual contributions to the RIP each year, if necessary, such that minimum funding requirements have been met. The RIP was frozen as of December 31, 2010. | |||||||||||||||||
The Corporation also sponsors two supplemental non-qualified retirement plans. The ERISA Excess Retirement Plan provides retirement benefits equal to the difference, if any, between the maximum benefit allowable under the Internal Revenue Code and the amount that would be provided under the RIP, if no limits were applied. The Basic Retirement Plan (BRP) is applicable to certain officers whom the Board of Directors designates. Officers participating in the BRP receive a benefit based on a target benefit percentage based on years of service at retirement and a designated tier as determined by the Board of Directors. When a participant retires, the basic benefit under the BRP is a monthly benefit equal to the target benefit percentage times the participant’s highest average monthly cash compensation during five consecutive calendar years within the last ten calendar years of employment. This monthly benefit was reduced by the monthly benefit the participant receives from Social Security, the RIP, the ERISA Excess Retirement Plan and the annuity equivalent of the three percent automatic contributions to the qualified 401(k) defined contribution plan and the ERISA Excess Lost Match Plan. The BRP was frozen as of December 31, 2008. The ERISA Excess Retirement Plan was frozen as of December 31, 2010. | |||||||||||||||||
The following tables provide information relating to the accumulated benefit obligation, change in benefit obligation, change in plan assets, the plans’ funded status and the amount included in the consolidated balance sheet for the qualified and non-qualified plans described above (collectively, the Plans): | |||||||||||||||||
December 31 | 2013 | 2012 | |||||||||||||||
Accumulated benefit obligation | $ | 139,483 | $ | 153,606 | |||||||||||||
Projected benefit obligation at beginning of year | $ | 153,958 | $ | 143,307 | |||||||||||||
Service cost | 65 | 59 | |||||||||||||||
Interest cost | 5,728 | 6,173 | |||||||||||||||
Actuarial (gain) loss | (13,486 | ) | 11,558 | ||||||||||||||
Benefits paid | (6,534 | ) | (7,139 | ) | |||||||||||||
Projected benefit obligation at end of year | $ | 139,731 | $ | 153,958 | |||||||||||||
Fair value of plan assets at beginning of year | $ | 113,416 | $ | 105,330 | |||||||||||||
Actual return on plan assets | 16,534 | 8,899 | |||||||||||||||
Corporation contribution | 16,321 | 6,326 | |||||||||||||||
Benefits paid | (6,534 | ) | (7,139 | ) | |||||||||||||
Fair value of plan assets at end of year | $ | 139,737 | $ | 113,416 | |||||||||||||
Funded status of plans | $ | 6 | $ | (40,542 | ) | ||||||||||||
The unrecognized actuarial loss, prior service cost and net transition obligation are required to be recognized into earnings over the average remaining participant life due to the freezing of the RIP, which may, on a net basis reduce future earnings. | |||||||||||||||||
Actuarial assumptions used in the determination of the projected benefit obligation in the Plans are as follows: | |||||||||||||||||
Assumptions at December 31 | 2013 | 2012 | |||||||||||||||
Weighted average discount rate | 4.68 | % | 3.78 | % | |||||||||||||
Rates of average increase in compensation levels | 4 | % | 4 | % | |||||||||||||
The discount rate assumption at December 31, 2013 and 2012 was determined using a yield-curve based approach. A yield curve was produced for a universe containing the majority of U.S.-issued Aa-graded corporate bonds, all of which were non-callable (or callable with make-whole provisions), and after excluding the 10% of the bonds with the highest and lowest yields. The discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments. | |||||||||||||||||
The net periodic pension cost and other comprehensive income for the Plans included the following components: | |||||||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 65 | $ | 59 | $ | 58 | |||||||||||
Interest cost | 5,728 | 6,173 | 6,746 | ||||||||||||||
Expected return on plan assets | (9,081 | ) | (7,935 | ) | (7,647 | ) | |||||||||||
Transition amount amortization | (93 | ) | (93 | ) | (93 | ) | |||||||||||
Prior service credit amortization | 7 | 7 | 7 | ||||||||||||||
Actuarial loss amortization | 2,263 | 1,861 | 1,131 | ||||||||||||||
Net periodic pension cost (gain) | (1,111 | ) | 72 | 202 | |||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||||||||||||||||
Current year actuarial (gain) loss | (20,938 | ) | 10,594 | 19,097 | |||||||||||||
Amortization of actuarial loss | (2,263 | ) | (1,861 | ) | (1,131 | ) | |||||||||||
Amortization of prior service credit | (7 | ) | (7 | ) | (7 | ) | |||||||||||
Amortization of transition asset | 93 | 93 | 93 | ||||||||||||||
Total recognized in other comprehensive income | (23,115 | ) | 8,819 | 18,052 | |||||||||||||
Total recognized in net periodic pension cost (gain) and other comprehensive income | $ | (24,226 | ) | $ | 8,891 | $ | 18,254 | ||||||||||
The plans have an actuarial measurement date of December 31. Actuarial assumptions used in the determination of the net periodic pension cost in the Plans are as follows: | |||||||||||||||||
Assumptions for the Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||
Weighted average discount rate | 3.78 | % | 4.39 | % | 5.28 | % | |||||||||||
Rates of increase in compensation levels | 4 | % | 4 | % | 4 | % | |||||||||||
Expected long-term rate of return on assets | 7.25 | % | 7.5 | % | 7.5 | % | |||||||||||
The expected long-term rate of return on plan assets has been established by considering historical and anticipated expected returns on the asset classes invested in by the pension trust and the allocation strategy currently in place among those classes. | |||||||||||||||||
The change in plan assets reflects benefits paid from the qualified pension plans of $5,212 and $5,813 for 2013 and 2012, respectively, and employer contributions to the qualified pension plans of $15,000 and $5,000 for 2013 and 2012, respectively. For the non-qualified pension plans, the change in plan assets reflects benefits paid and contributions to the plans in the same amount. This amount represents the actual benefit payments paid from general plan assets of $1,322 for 2013 and $1,326 for 2012. | |||||||||||||||||
As of December 31, 2013 and 2012, the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the qualified and non-qualified pension plans were as follows: | |||||||||||||||||
Qualified Pension Plans | Non-Qualified | ||||||||||||||||
Pension Plans | |||||||||||||||||
December 31 | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Projected benefit obligation | $ | 120,512 | $ | 133,116 | $ | 19,219 | $ | 20,842 | |||||||||
Accumulated benefit obligation | 120,512 | 133,116 | 18,971 | 20,490 | |||||||||||||
Fair value of plan assets | 139,737 | 113,416 | — | — | |||||||||||||
The impact of changes in the discount rate, expected long-term rate of return on plan assets and compensation levels would have had the following effects on 2013 pension expense: | |||||||||||||||||
Estimated | |||||||||||||||||
Increase in | |||||||||||||||||
Pension | |||||||||||||||||
Expense | |||||||||||||||||
0.5% decrease in the discount rate | $ | (35 | ) | ||||||||||||||
0.5% decrease in the expected long-term rate of return on plan assets | 626 | ||||||||||||||||
The following table provides information regarding estimated future cash flows relating to the Plans at December 31, 2013: | |||||||||||||||||
Expected employer contributions: | 2014 | $ | 1,322 | ||||||||||||||
Expected benefit payments: | 2014 | 6,510 | |||||||||||||||
2015 | 6,862 | ||||||||||||||||
2016 | 7,246 | ||||||||||||||||
2017 | 9,127 | ||||||||||||||||
2018 | 8,113 | ||||||||||||||||
2019 – 2023 | 44,995 | ||||||||||||||||
The qualified pension plan contributions are deposited into a trust and the qualified benefit payments are made from trust assets. For the non-qualified plans, the contributions and the benefit payments are the same and reflect expected benefit amounts, which are paid from general assets. | |||||||||||||||||
The Corporation’s subsidiaries participate in a qualified 401(k) defined contribution plan under which employees may contribute a percentage of their salary. Employees are eligible to participate upon their first day of employment. Under this plan, the Corporation matches 100% of the first four percent that the employee defers. Additionally, substantially all employees receive an automatic contribution of three percent of compensation at the end of the year and the Corporation may make an additional contribution of up to two percent depending on the Corporation achieving its performance goals for the plan year. The Corporation’s contribution expense was $9,300 for 2013, $8,860 for 2012 and $8,445 for 2011. | |||||||||||||||||
The Corporation also sponsors an ERISA Excess Lost Match Plan for certain officers. This plan provides retirement benefits equal to the difference, if any, between the maximum benefit allowable under the Internal Revenue Code and the amount that would have been provided under the qualified 401(k) defined contribution plan, if no limits were applied. | |||||||||||||||||
Pension Plan Investment Policy and Strategy | |||||||||||||||||
The Corporation’s investment strategy for the RIP is to diversify plan assets between a wide mix of securities within the equity and debt markets in an effort to allow the plan the opportunity to meet the plan’s expected long-term rate of return requirements while minimizing short-term volatility. In this regard, the plan has targeted allocations within the equity securities category for domestic large cap, domestic mid cap, domestic small cap, real estate investment trusts, emerging market and international securities. Within the debt securities category, the plan has targeted allocation levels for U.S. Treasury, U.S. agency, domestic investment-grade bonds, high-yield bonds, inflation-protected securities and international bonds. | |||||||||||||||||
The following table presents asset allocations for the Corporation’s pension plans as of December 31, 2013 and 2012, and the target allocation for 2014, by asset category: | |||||||||||||||||
Target | Percentage of Plan Assets | ||||||||||||||||
Allocation | |||||||||||||||||
December 31 | 2014 | 2013 | 2012 | ||||||||||||||
Asset Category | |||||||||||||||||
Equity securities | 45 - 65 | % | 57 | % | 57 | % | |||||||||||
Debt securities | 30 - 50 | 40 | 40 | ||||||||||||||
Cash equivalents | 0 - 10 | 3 | 3 | ||||||||||||||
At December 31, 2013 and 2012, equity securities included 550,128 shares of the Corporation’s common stock totaling $6,943 (5.0% of total plan assets) at December 31, 2012 and $5,842 (5.2% of total plan assets) at December 31, 2012. The plan did not acquire additional shares during 2013. Dividends received on the Corporation’s common stock held by the Plan were $264 for both 2013 and 2012. | |||||||||||||||||
The fair values of the Corporation’s pension plan assets by asset category are as follows: | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
December 31, 2013 | |||||||||||||||||
Asset Class | |||||||||||||||||
Cash | $ | 4,090 | $ | — | — | $ | 4,090 | ||||||||||
Equity securities: | |||||||||||||||||
F.N.B. Corporation | 6,943 | — | — | 6,943 | |||||||||||||
Other large-cap U.S. financial services companies | 2,354 | — | — | 2,354 | |||||||||||||
Other large-cap U.S. companies | 34,345 | — | — | 34,345 | |||||||||||||
International companies | 555 | — | — | 555 | |||||||||||||
Mutual fund equity investments: | |||||||||||||||||
U.S. equity index funds: | |||||||||||||||||
U.S. large-cap equity index funds | 2,543 | — | — | 2,543 | |||||||||||||
U.S. small-cap equity index funds | 2,850 | — | — | 2,850 | |||||||||||||
U.S. mid-cap equity index funds | 3,911 | — | — | 3,911 | |||||||||||||
Non-U.S. equities growth fund | 10,783 | — | — | 10,783 | |||||||||||||
U.S. equity funds: | |||||||||||||||||
U.S. mid-cap | 7,919 | — | — | 7,919 | |||||||||||||
U.S. small-cap | 3,653 | — | — | 3,653 | |||||||||||||
Other | 4,469 | — | — | 4,469 | |||||||||||||
Fixed income securities: | |||||||||||||||||
U.S. government agencies | — | 44,653 | — | 44,653 | |||||||||||||
Fixed income mutual funds: | |||||||||||||||||
U.S. investment-grade fixed income securities | 10,196 | — | — | 10,196 | |||||||||||||
Non-U.S. fixed income securities | 473 | — | — | 473 | |||||||||||||
$ | 95,084 | $ | 44,653 | — | $ | 139,737 | |||||||||||
December 31, 2012 | |||||||||||||||||
Asset Class | |||||||||||||||||
Cash | $ | 3,587 | $ | — | — | $ | 3,587 | ||||||||||
Equity securities: | |||||||||||||||||
F.N.B. Corporation | 5,842 | — | — | 5,842 | |||||||||||||
Other large-cap U.S. financial services companies | 1,563 | — | — | 1,563 | |||||||||||||
Other large-cap U.S. companies | 27,709 | — | — | 27,709 | |||||||||||||
International companies | 624 | — | — | 624 | |||||||||||||
Mutual fund equity investments: | |||||||||||||||||
U.S. equity index funds: | |||||||||||||||||
U.S. large-cap equity index funds | 2,129 | — | — | 2,129 | |||||||||||||
U.S. small-cap equity index funds | 2,096 | — | — | 2,096 | |||||||||||||
U.S. mid-cap equity index funds | 2,928 | — | — | 2,928 | |||||||||||||
Non-U.S. equities growth fund | 8,972 | — | — | 8,972 | |||||||||||||
U.S. equity funds: | |||||||||||||||||
U.S. mid-cap | 5,893 | — | — | 5,893 | |||||||||||||
U.S. small-cap | 2,856 | — | — | 2,856 | |||||||||||||
Other | 4,280 | — | — | 4,280 | |||||||||||||
Fixed income securities: | |||||||||||||||||
U.S. government agencies | — | 36,030 | — | 36,030 | |||||||||||||
Fixed income mutual funds: | |||||||||||||||||
U.S. investment-grade fixed income securities | 8,404 | — | — | 8,404 | |||||||||||||
Non-U.S. fixed income securities | 503 | — | — | 503 | |||||||||||||
$ | 77,386 | $ | 36,030 | — | $ | 113,416 | |||||||||||
The classifications for Level 1, Level 2 and Level 3 are discussed in the Fair Value Measurements footnote. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
17. Income Taxes | |||||||||||||
Income tax expense, allocated based on a separate tax return basis, consists of the following: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Current income taxes: | |||||||||||||
Federal taxes | $ | 33,614 | $ | 22,182 | $ | 18,721 | |||||||
State taxes | (116 | ) | 416 | 354 | |||||||||
33,498 | 22,598 | 19,075 | |||||||||||
Deferred income taxes: | |||||||||||||
Federal taxes | 11,258 | 21,175 | 12,929 | ||||||||||
State taxes | — | — | — | ||||||||||
11,258 | 21,175 | 12,929 | |||||||||||
$ | 44,756 | $ | 43,773 | $ | 32,004 | ||||||||
Income tax expense related to gains on the sale of securities was $283, $107 and $1,278 for 2013, 2012 and 2011, respectively. | |||||||||||||
Income tax expense and the effective tax rate for 2013 were favorably impacted by $359 of uncertain tax positions reversed in the current period. The effective tax rates for 2013, 2012 and 2011 were all lower than the statutory tax rate due to tax benefits resulting from tax-exempt income on investments, loans, tax credits and income from BOLI. | |||||||||||||
The following table provides a reconciliation between the statutory tax rate and the actual effective tax rate: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Effect of tax-free interest and dividend income | (4.3 | ) | (4.7 | ) | (5.9 | ) | |||||||
Tax credits and settlements | (2.4 | ) | (1.8 | ) | (1.9 | ) | |||||||
Life insurance | (0.4 | ) | — | — | |||||||||
Other items | (0.4 | ) | (0.1 | ) | (0.3 | ) | |||||||
Actual effective tax rate | 27.5 | % | 28.4 | % | 26.9 | % | |||||||
The following table presents the tax effects of temporary differences that give rise to deferred tax assets and liabilities: | |||||||||||||
December 31 | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 39,292 | $ | 36,714 | |||||||||
Discount on purchased loans | 41,012 | 24,339 | |||||||||||
Net operating loss/tax credit carryforwards | 17,052 | 15,196 | |||||||||||
Deferred compensation | 8,208 | 7,429 | |||||||||||
Securities impairments | 20,371 | 19,999 | |||||||||||
Pension and other defined benefit plans | 2,190 | 16,335 | |||||||||||
Net unrealized securities losses | 13,295 | — | |||||||||||
Other | 3,567 | 4,268 | |||||||||||
Total | 144,987 | 124,280 | |||||||||||
Valuation allowance | (15,611 | ) | (16,329 | ) | |||||||||
Total deferred tax assets | 129,376 | 107,951 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Loan costs | (931 | ) | (287 | ) | |||||||||
Depreciation | (9,819 | ) | (9,794 | ) | |||||||||
Prepaid expenses | (1,261 | ) | (1,083 | ) | |||||||||
Amortizable intangibles | (11,346 | ) | (8,200 | ) | |||||||||
Lease financing | (6,290 | ) | (4,915 | ) | |||||||||
Debt discharge income deferral | (3,402 | ) | — | ||||||||||
Originated mortgage servicing rights | (2,721 | ) | — | ||||||||||
Other | (1,214 | ) | (1,089 | ) | |||||||||
Total deferred tax liabilities | (36,984 | ) | (25,368 | ) | |||||||||
Net deferred tax assets | $ | 92,392 | $ | 82,583 | |||||||||
The Corporation establishes a valuation allowance when it is more likely than not that the Corporation will not be able to realize the benefit of the deferred tax assets or when future deductibility is uncertain. Periodically, the valuation allowance is reviewed and adjusted based on management’s assessment of realizable deferred tax assets. At December 31, 2013, the Corporation had unused state net operating loss carryforwards expiring from 2018 to 2032. The Corporation anticipates that neither the state net operating loss carryforwards nor the other net deferred tax assets at certain of its subsidiaries will be utilized and, as such, has recorded a valuation allowance against the deferred tax assets related to these carryforwards. | |||||||||||||
As of December 31, 2013 and 2012, the Corporation has approximately $660 and $1,088, respectively, of unrecognized tax benefits, excluding interest and the federal tax benefit of unrecognized state tax benefits. Also, as of December 31, 2013 and 2012, additional unrecognized tax benefits relating to accrued interest, net of the related federal tax benefit, amounted to $69 and $150, respectively. As of December 31, 2013, $498 of these tax benefits would affect the effective tax rate if recognized. The Corporation recognizes potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. To the extent interest is not assessed with respect to uncertain tax positions, amounts accrued will be reduced and reflected as a reduction of the overall income tax provision. | |||||||||||||
The Corporation files numerous consolidated and separate income tax returns in the U.S. federal jurisdiction and in several state jurisdictions. The Corporation is no longer subject to U.S. federal income tax examinations for years prior to 2010. Federal examinations for years 2009 and prior have been closed with no material impact to the Corporation’s financial position. With limited exception, the Corporation is no longer subject to state income tax examinations for years prior to 2009 and state income tax returns for 2009 through 2011 are currently subject to examination. The Corporation anticipates that a reduction in the unrecognized tax benefit of up to $408 may occur in the next twelve months from the expiration of statutes of limitations which would result in a reduction in income taxes. | |||||||||||||
Unrecognized Tax Benefits | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | |||||||||||
Balance at beginning of year | $ | 1,088 | $ | 1,376 | |||||||||
Additions based on tax positions related to current year | 74 | 87 | |||||||||||
Additions based on tax positions of prior year | — | — | |||||||||||
Reductions for tax positions of prior years | — | — | |||||||||||
Reductions due to expiration of statute of limitations | (502 | ) | (375 | ) | |||||||||
Balance at end of year | $ | 660 | $ | 1,088 | |||||||||
Comprehensive_Income
Comprehensive Income | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Comprehensive Income | ' | ||||||||||||||||||||
18. Comprehensive Income | |||||||||||||||||||||
The following table presents changes in accumulated other comprehensive income, net of tax, by component: | |||||||||||||||||||||
Year Ended December 31, 2013 | Unrealized | Non-Credit | Unrealized | Unrecognized | Total | ||||||||||||||||
Net Gains | Related Loss | Losses on | Pension and | ||||||||||||||||||
(Losses) on | on Debt | Derivative | Postretirement | ||||||||||||||||||
Securities | Securities not | Instruments | Obligations | ||||||||||||||||||
Available | Expected to | ||||||||||||||||||||
for Sale | be Sold | ||||||||||||||||||||
Balance at beginning of period | $ | 9,269 | $ | (8,039 | ) | $ | (171 | ) | $ | (47,283 | ) | $ | (46,224 | ) | |||||||
Other comprehensive income (loss) before reclassifications | (20,643 | ) | 1,847 | (6,415 | ) | 15,011 | (10,200 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income | (500 | ) | — | — | — | (500 | ) | ||||||||||||||
Net current period other comprehensive income (loss) | (21,143 | ) | 1,847 | (6,415 | ) | 15,011 | (10,700 | ) | |||||||||||||
Balance at end of period | $ | (11,874 | ) | $ | (6,192 | ) | $ | (6,586 | ) | $ | (32,272 | ) | $ | (56,924 | ) | ||||||
The following table presents a summary of the reclassifications out of accumulated other comprehensive income: | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Details About Accumulated Other | Amount | Affected Line Item | |||||||||||||||||||
Comprehensive Income Component | Reclassified from | in the Statement | |||||||||||||||||||
Other | where Net Income | ||||||||||||||||||||
Comprehensive | is Presented | ||||||||||||||||||||
Income | |||||||||||||||||||||
Unrealized net gains on securities available for sale (1) | $ | (767 | ) | Net securities gains | |||||||||||||||||
(267 | ) | Tax expense | |||||||||||||||||||
$ | (500 | ) | |||||||||||||||||||
-1 | For additional detail related to unrealized net gains on securities available for sale and related amounts reclassified from accumulated other comprehensive income see the “Securities” note in this Report. |
Earnings_per_Share
Earnings per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings per Share | ' | ||||||||||||
19. Earnings per Share | |||||||||||||
The following tables set forth the computation of basic and diluted earnings per common share: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Net income available to common stockholders | $ | 117,804 | $ | 110,410 | $ | 87,047 | |||||||
Basic weighted average common shares outstanding | 146,186,982 | 139,135,272 | 124,145,924 | ||||||||||
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,622,522 | 1,504,893 | 866,154 | ||||||||||
Diluted weighted average common shares outstanding | 147,809,504 | 140,640,165 | 125,012,078 | ||||||||||
Basic earnings per common share | $ | 0.81 | $ | 0.79 | $ | 0.7 | |||||||
Diluted earnings per common share | $ | 0.8 | $ | 0.79 | $ | 0.7 | |||||||
For the years ended December 31, 2013, 2012 and 2011, 49,995, 172,709 and 392,299 shares of common stock, respectively, related to stock options and warrants were excluded from the computation of diluted earnings per share because the exercise price of the shares was greater than the average market price of the common shares and therefore, the effect would be antidilutive. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity | ' |
20. Stockholders’ Equity | |
On November 1, 2013, the Corporation completed a public offering of 4,693,876 shares of common stock at a price of $12.25 per share, including 612,244 shares of common stock purchased by the underwriters pursuant to an over-allotment option, which the underwriters exercised in full. On November 1, 2013, the Corporation also completed a public offering of 4,000,000 Depositary Shares, each representing a 1/40th interest in the Non-Cumulative Perpetual Preferred Stock, Series E, of the Corporation, at a price of $25.00 per share. On November 14, 2013, the underwriters exercised their over-allotment option of 435,080 additional Depositary Shares at the same terms. The net proceeds of the combined offerings after deducting underwriting discounts and commissions and offering expenses were $161,316. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Matters | ' | ||||||||||||||||||||||||
21. Regulatory Matters | |||||||||||||||||||||||||
The Corporation and FNBPA are subject to various regulatory capital requirements administered by the federal banking agencies. Quantitative measures established by regulators to ensure capital adequacy require the Corporation and FNBPA to maintain minimum amounts and ratios of total and tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of leverage ratio (as defined). Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions, by regulators that, if undertaken, could have a direct material effect on the Corporation’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and FNBPA must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Corporation’s and FNBPA’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. | |||||||||||||||||||||||||
The Corporation’s management believes that, as of December 31, 2013 and 2012, the Corporation and FNBPA met all capital adequacy requirements to which either of them was subject. | |||||||||||||||||||||||||
As of December 31, 2013, the most recent notification from the federal banking agencies categorized the Corporation and FNBPA as well-capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since the notification which management believes have changed this categorization. | |||||||||||||||||||||||||
During June 2013, $15,000 of the Corporation-issued TPS were repurchased at a discount and the related debt extinguished. This $15,000 was opportunistically purchased at auction and represents a portion of the underlying collateral of a pooled TPS that was liquidated by the trustee. During December 2013, the Corporation redeemed $115,000 of the Corporation-issued TPS in conjunction with its capital raise completed in November 2013. The regulatory capital ratios at December 31, 2013 reflect these decreases in TPS, with remaining TPS included in tier 1 capital totaling $74,000. | |||||||||||||||||||||||||
Following are the capital ratios as of December 31, 2013 and 2012 for the Corporation and FNBPA (dollars in thousands): | |||||||||||||||||||||||||
Actual | Well-Capitalized | Minimum Capital | |||||||||||||||||||||||
Requirements | Requirements | ||||||||||||||||||||||||
December 31, 2013 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
F.N.B. Corporation: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | $ | 1,258,312 | 12.5 | % | $ | 1,009,952 | 10 | % | $ | 807,962 | 8 | % | |||||||||||||
Tier 1 capital to risk-weighted assets | 1,117,956 | 11.1 | 605,971 | 6 | 403,981 | 4 | |||||||||||||||||||
Leverage ratio | 1,117,956 | 8.8 | 634,527 | 5 | 507,622 | 4 | |||||||||||||||||||
FNBPA: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | 1,144,510 | 11.5 | 995,524 | 10 | 796,419 | 8 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | 1,035,659 | 10.4 | 597,314 | 6 | 398,210 | 4 | |||||||||||||||||||
Leverage ratio | 1,035,659 | 8.3 | 623,921 | 5 | 499,137 | 4 | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
F.N.B. Corporation: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | $ | 1,068,704 | 12.2 | % | $ | 879,316 | 10 | % | $ | 703,453 | 8 | % | |||||||||||||
Tier 1 capital to risk-weighted assets | 934,443 | 10.6 | 527,589 | 6 | 351,726 | 4 | |||||||||||||||||||
Leverage ratio | 934,443 | 8.3 | 563,649 | 5 | 450,919 | 4 | |||||||||||||||||||
FNBPA: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | 999,717 | 11.6 | 859,468 | 10 | 687,574 | 8 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | 895,177 | 10.4 | 515,681 | 6 | 343,787 | 4 | |||||||||||||||||||
Leverage ratio | 895,177 | 8.1 | 555,360 | 5 | 444,288 | 4 | |||||||||||||||||||
FNBPA was required to maintain aggregate cash reserves with the FRB amounting to $18,679 at December 31, 2013. The Corporation also maintains deposits for various services such as check clearing. | |||||||||||||||||||||||||
Certain limitations exist under applicable law and regulations by regulatory agencies regarding dividend distributions to a parent by its subsidiaries. As of December 31, 2013, the Corporation’s subsidiaries had $116,806 of retained earnings available for distribution to the Corporation without prior regulatory approval. | |||||||||||||||||||||||||
Under current FRB regulations, FNBPA is limited in the amount it may lend to non-bank affiliates, including the Corporation. Such loans must be secured by specified collateral. In addition, any such loans to a non-bank affiliate may not exceed 10% of FNBPA’s capital and surplus and the aggregate of loans to all such affiliates may not exceed 20% of FNBPA’s capital and surplus. The maximum amount that may be borrowed by the Corporation under these provisions was $182,499 at December 31, 2013. |
Cash_Flow_Information
Cash Flow Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Cash Flow Information | ' | ||||||||||||
22. Cash Flow Information | |||||||||||||
Following is a summary of cash flow information: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Interest paid on deposits and other borrowings | $ | 46,337 | $ | 56,306 | $ | 75,178 | |||||||
Income taxes paid | 34,200 | 22,250 | 13,250 | ||||||||||
Transfers of loans to other real estate owned | 15,836 | 14,102 | 21,679 | ||||||||||
Transfers of other real estate owned to loans | 701 | 839 | 598 | ||||||||||
Supplemental non-cash information relating to the Corporation’s acquisitions is included in the Mergers and Acquisitions footnote included in this Item of the Report. |
Business_Segments
Business Segments | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Business Segments | ' | ||||||||||||||||||||||||
23. Business Segments | |||||||||||||||||||||||||
The Corporation operates in four reportable segments: Community Banking, Wealth Management, Insurance and Consumer Finance. | |||||||||||||||||||||||||
• | The Community Banking segment provides commercial and consumer banking services. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, asset based lending, capital markets and lease financing. Consumer banking products and services include deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. | ||||||||||||||||||||||||
• | The Wealth Management segment provides a broad range of personal and corporate fiduciary services including the administration of decedent and trust estates. In addition, it offers various alternative products, including securities brokerage and investment advisory services, mutual funds and annuities. | ||||||||||||||||||||||||
• | The Insurance segment includes a full-service insurance agency offering all lines of commercial and personal insurance through major carriers. The Insurance segment also includes a reinsurer. | ||||||||||||||||||||||||
• | The Consumer Finance segment primarily makes installment loans to individuals and purchases installment sales finance contracts from retail merchants. The Consumer Finance segment activity is funded through the sale of the Corporation’s subordinated notes at the finance company’s branch offices. | ||||||||||||||||||||||||
The following tables provide financial information for these segments of the Corporation. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of the Corporation, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments which are necessary for purposes of reconciliation to the consolidated amounts. | |||||||||||||||||||||||||
Community | Wealth | Insurance | Consumer | Parent | Consolidated | ||||||||||||||||||||
Banking | Manage- | Finance | and | ||||||||||||||||||||||
ment | Other | ||||||||||||||||||||||||
At or for the Year Ended December 31, 2013 | |||||||||||||||||||||||||
Interest income | $ | 396,243 | $ | — | $ | 109 | $ | 37,956 | $ | 6,078 | $ | 440,386 | |||||||||||||
Interest expense | 32,178 | — | — | 3,378 | 8,788 | 44,344 | |||||||||||||||||||
Net interest income | 364,065 | — | 109 | 34,578 | (2,710 | ) | 396,042 | ||||||||||||||||||
Provision for loan losses | 23,502 | — | — | 6,834 | 754 | 31,090 | |||||||||||||||||||
Non-interest income | 97,156 | 28,717 | 13,175 | 2,794 | (6,064 | ) | 135,778 | ||||||||||||||||||
Non-interest expense | 271,657 | 25,067 | 11,448 | 19,052 | 2,539 | 329,763 | |||||||||||||||||||
Intangible amortization | 7,697 | 304 | 406 | — | — | 8,407 | |||||||||||||||||||
Income tax expense (benefit) | 43,966 | 1,248 | 519 | 4,320 | (5,297 | ) | 44,756 | ||||||||||||||||||
Net income (loss) | 114,399 | 2,098 | 911 | 7,166 | (6,770 | ) | 117,804 | ||||||||||||||||||
Total assets | 13,381,047 | 20,959 | 20,214 | 188,259 | (47,074 | ) | 13,563,405 | ||||||||||||||||||
Total intangibles | 788,513 | 11,008 | 10,526 | 1,809 | — | 811,856 | |||||||||||||||||||
At or for the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Interest income | $ | 390,680 | $ | 4 | $ | 113 | $ | 35,279 | $ | 5,830 | $ | 431,906 | |||||||||||||
Interest expense | 45,604 | — | — | 3,584 | 9,867 | 59,055 | |||||||||||||||||||
Net interest income | 345,076 | 4 | 113 | 31,695 | (4,037 | ) | 372,851 | ||||||||||||||||||
Provision for loan losses | 24,606 | — | — | 6,115 | 581 | 31,302 | |||||||||||||||||||
Non-interest income | 96,853 | 24,152 | 13,035 | 2,343 | (5,131 | ) | 131,252 | ||||||||||||||||||
Non-interest expense | 258,063 | 20,141 | 11,503 | 18,410 | 1,577 | 309,694 | |||||||||||||||||||
Intangible amortization | 8,184 | 320 | 420 | — | — | 8,924 | |||||||||||||||||||
Income tax expense (benefit) | 42,991 | 1,358 | 438 | 3,615 | (4,629 | ) | 43,773 | ||||||||||||||||||
Net income (loss) | 108,085 | 2,337 | 787 | 5,898 | (6,697 | ) | 110,410 | ||||||||||||||||||
Total assets | 11,845,122 | 19,610 | 18,675 | 178,149 | (37,580 | ) | 12,023,976 | ||||||||||||||||||
Total intangibles | 689,354 | 11,312 | 10,931 | 1,809 | — | 713,406 | |||||||||||||||||||
At or for the Year Ended December 31, 2011 | |||||||||||||||||||||||||
Interest income | $ | 350,801 | $ | 11 | $ | 124 | $ | 34,168 | $ | 6,021 | $ | 391,125 | |||||||||||||
Interest expense | 60,132 | — | — | 4,281 | 10,204 | 74,617 | |||||||||||||||||||
Net interest income | 290,669 | 11 | 124 | 29,887 | (4,183 | ) | 316,508 | ||||||||||||||||||
Provision for loan losses | 26,957 | — | — | 6,152 | 532 | 33,641 | |||||||||||||||||||
Non-interest income | 88,172 | 23,238 | 12,325 | 2,132 | (6,137 | ) | 119,730 | ||||||||||||||||||
Non-interest expense | 227,696 | 18,518 | 11,568 | 17,210 | 1,514 | 276,506 | |||||||||||||||||||
Intangible amortization | 6,279 | 335 | 426 | — | — | 7,040 | |||||||||||||||||||
Income tax expense (benefit) | 31,869 | 1,587 | 169 | 3,274 | (4,895 | ) | 32,004 | ||||||||||||||||||
Net income (loss) | 86,040 | 2,809 | 286 | 5,383 | (7,471 | ) | 87,047 | ||||||||||||||||||
Total assets | 9,583,439 | 19,579 | 17,301 | 171,350 | (5,186 | ) | 9,786,483 | ||||||||||||||||||
Total intangibles | 574,622 | 11,632 | 11,352 | 1,809 | — | 599,415 |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||
24. Fair Value Measurements | |||||||||||||||||||||
The Corporation uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Securities available for sale and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, the Corporation may be required to record at fair value other assets on a non-recurring basis, such as mortgage loans held for sale, certain impaired loans, OREO and certain other assets. | |||||||||||||||||||||
Fair value is defined as an exit price, representing 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. Fair value measurements are not adjusted for transaction costs. Fair value is a market-based measure considered from the perspective of a market participant who holds the asset or owes the liability rather than an entity-specific measure. | |||||||||||||||||||||
In determining fair value, the Corporation uses various valuation approaches, including market, income and cost approaches. ASC 820, Fair Value Measurements and Disclosures, establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability, which are developed based on market data obtained from sources independent of the Corporation. Unobservable inputs reflect the Corporation’s assumptions about the assumptions that market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. | |||||||||||||||||||||
The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows: | |||||||||||||||||||||
Measurement | Definition | ||||||||||||||||||||
Category | |||||||||||||||||||||
Level 1 | valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets. | ||||||||||||||||||||
Level 2 | valuation is based upon quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by market data. | ||||||||||||||||||||
Level 3 | valuation is derived from other valuation methodologies including discounted cash flow models and similar techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in determining fair value. | ||||||||||||||||||||
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||
Following is a description of the valuation methodologies the Corporation uses for financial instruments recorded at fair value on either a recurring or non-recurring basis: | |||||||||||||||||||||
Securities Available For Sale | |||||||||||||||||||||
Securities available for sale consists of both debt and equity securities. These securities are recorded at fair value on a recurring basis. At December 31, 2013, 97% of these securities used valuation methodologies involving market-based or market-derived information, collectively Level 1 and Level 2 measurements, to measure fair value. The remaining 3% of these securities were measured using model-based techniques, with primarily unobservable (Level 3) inputs. | |||||||||||||||||||||
The Corporation closely monitors market conditions involving assets that have become less actively traded. If the fair value measurement is based upon recent observable market activity of such assets or comparable assets (other than forced or distressed transactions) that occur in sufficient volume, and do not require significant adjustment using unobservable inputs, those assets are classified as Level 1 or Level 2; if not, they are classified as Level 3. Making this assessment requires significant judgment. | |||||||||||||||||||||
The Corporation uses prices from independent pricing services and, to a lesser extent, indicative (non-binding) quotes from independent brokers, to measure the fair value of investment securities. The Corporation validates prices received from pricing services or brokers using a variety of methods, including, but not limited to, comparison to secondary pricing services, corroboration of pricing by reference to other independent market data such as secondary broker quotes and relevant benchmark indices, and review of pricing information for a sample of securities provided by the independent pricing service by Corporate personnel familiar with market liquidity and other market-related conditions. | |||||||||||||||||||||
The Corporation determines the valuation of its investments in pooled TPS with the assistance of a third-party independent financial consulting firm that specializes in advisory services related to illiquid financial investments. The consulting firm provides the Corporation appropriate valuation methodology, performance assumptions, modeling techniques, discounted cash flows, discount rates using the underlying index plus 4.5-14%, and sensitivity analyses with respect to levels of defaults and deferrals necessary to produce losses. | |||||||||||||||||||||
Additionally, the Corporation utilizes the firm’s expertise to reassess assumptions to reflect actual conditions. See the Securities footnote in the Notes to Consolidated Financial Statements section of this Report for information on how the Corporation reassesses assumptions to determine the valuation of its pooled TPS. Accessing the services of a financial consulting firm with a focus on financial instruments assists the Corporation in accurately valuing these complex financial instruments and facilitates informed decision-making with respect to such instruments. | |||||||||||||||||||||
The Level 3 CDOs could be subject to sensitivities in market risks that may cause the discount rates on these instruments to vary from those currently utilized to determine fair value. These discount rates vary today, but typically range between 4.5-14% over the coupon rate of the specific security. The valuations are somewhat sensitive to changes in the discount rate. For example, each 1% change in the discount rate will alter the fair value of these debt obligations by approximately $3,000 or 7% of the total book value. Factors that could influence the discount rate include: the overall health of the economy, the current and projected health of the banking system and its impact upon banks’ capital strategies, access to capital markets for the underlying debt issuers and regulatory matters. Generally, in an improving economy the health of the banking system should be improving and capital market access would be open, thus reducing market risk premiums and therefore discount rates for these instruments. Conversely, the opposite is true, a weakening economy puts pressure on the banking system and the financial health of banks. The Corporation takes all these factors into consideration when establishing a fair value for these Level 3 obligations. | |||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||
The Corporation determines its fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity and uses observable market based inputs, including interest rate curves and implied volatilities. | |||||||||||||||||||||
The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of non-performance risk, the Corporation considers the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. | |||||||||||||||||||||
Although the Corporation has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2013, the Corporation has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Corporation has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. | |||||||||||||||||||||
Residential Mortgage Loans Held For Sale | |||||||||||||||||||||
These loans are carried at the lower of cost or fair value. Under lower of cost or fair value accounting, periodically, it may be necessary to record non-recurring fair value adjustments. Fair value, when recorded, is based on independent quoted market prices and is classified as Level 2. | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||
The Corporation reserves for commercial loan relationships greater than or equal to $500 that the Corporation considers impaired as defined in ASC 310 at the time the Corporation identifies the loan as impaired based upon the present value of expected future cash flows available to pay the loan, or based upon the fair value of the collateral less estimated selling costs where a loan is collateral dependent. Collateral may be real estate and/or business assets including equipment, inventory and accounts receivable. | |||||||||||||||||||||
The Corporation determines the fair value of real estate based on appraisals by licensed or certified appraisers. The value of business assets is generally based on amounts reported on the business’ financial statements. Management must rely on the financial statements prepared and certified by the borrower or its accountants in determining the value of these business assets on an ongoing basis which may be subject to significant change over time. Based on the quality of information or statements provided, management may require the use of business asset appraisals and site-inspections to better value these assets. The Corporation may discount appraised and reported values based on management’s historical knowledge, changes in market conditions from the time of valuation or management’s knowledge of the borrower and the borrower’s business. Since not all valuation inputs are observable, the Corporation classifies these non-recurring fair value determinations as Level 2 or Level 3 based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||
The Corporation reviews and evaluates impaired loans no less frequently than quarterly for additional impairment based on the same factors identified above. | |||||||||||||||||||||
Other Real Estate Owned | |||||||||||||||||||||
OREO is comprised of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations plus some bank owned real estate. OREO acquired in settlement of indebtedness is recorded at the lower of carrying amount of the loan or fair value less costs to sell. Subsequently, these assets are carried at the lower of carrying value or fair value less costs to sell. Accordingly, it may be necessary to record non-recurring fair value adjustments. Fair value is generally based upon appraisals by licensed or certified appraisers and other market information and is classified as Level 2 or Level 3. | |||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Assets measured at fair value | |||||||||||||||||||||
Available for sale debt securities | |||||||||||||||||||||
U.S. government-sponsored entities | $ | — | $ | 330,985 | $ | — | $ | 330,985 | |||||||||||||
Residential mortgage-backed securities | |||||||||||||||||||||
Agency mortgage-backed securities | — | 250,881 | — | 250,881 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 491,199 | — | 491,199 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 18 | 1,744 | 1,762 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 17,002 | — | 17,002 | |||||||||||||||||
Collateralized debt obligations | — | — | 31,595 | 31,595 | |||||||||||||||||
Other debt securities | — | 16,100 | — | 16,100 | |||||||||||||||||
— | 1,106,185 | 33,339 | 1,139,524 | ||||||||||||||||||
Available for sale equity securities | |||||||||||||||||||||
Financial services industry | 584 | 1,067 | 410 | 2,061 | |||||||||||||||||
Insurance services industry | 65 | — | — | 65 | |||||||||||||||||
649 | 1,067 | 410 | 2,126 | ||||||||||||||||||
649 | 1,107,252 | 33,749 | 1,141,650 | ||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | 33,317 | — | 33,317 | |||||||||||||||||
Not for trading | — | — | — | — | |||||||||||||||||
— | 33,317 | — | 33,317 | ||||||||||||||||||
$ | 649 | $ | 1,140,569 | $ | 33,749 | $ | 1,174,967 | ||||||||||||||
Liabilities measured at fair value | |||||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | $ | 33,236 | — | $ | 33,236 | |||||||||||||||
Not for trading | — | 10,133 | — | 10,133 | |||||||||||||||||
— | $ | 43,369 | — | $ | 43,369 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Assets measured at fair value | |||||||||||||||||||||
Available for sale debt securities | |||||||||||||||||||||
U.S. government-sponsored entities | $ | — | $ | 354,457 | $ | — | $ | 354,457 | |||||||||||||
Residential mortgage-backed securities | |||||||||||||||||||||
Agency mortgage-backed securities | — | 275,150 | — | 275,150 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 469,547 | — | 469,547 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 24 | 2,705 | 2,729 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 24,824 | — | 24,824 | |||||||||||||||||
Collateralized debt obligations | — | — | 22,456 | 22,456 | |||||||||||||||||
Other debt securities | — | 14,621 | 6,892 | 21,513 | |||||||||||||||||
— | 1,138,623 | 32,053 | 1,170,676 | ||||||||||||||||||
Available for sale equity securities | |||||||||||||||||||||
Financial services industry | 351 | 1,099 | 512 | 1,962 | |||||||||||||||||
Insurance services industry | 45 | — | — | 45 | |||||||||||||||||
396 | 1,099 | 512 | 2,007 | ||||||||||||||||||
396 | 1,139,722 | 32,565 | 1,172,683 | ||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | 58,008 | — | 58,008 | |||||||||||||||||
Not for trading | — | — | — | — | |||||||||||||||||
— | 58,008 | — | 58,008 | ||||||||||||||||||
$ | 396 | $ | 1,197,730 | $ | 32,565 | $ | 1,230,691 | ||||||||||||||
Liabilities measured at fair value | |||||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | $ | 58,150 | — | $ | 58,150 | |||||||||||||||
Not for trading | — | — | — | — | |||||||||||||||||
— | $ | 58,150 | — | $ | 58,150 | ||||||||||||||||
During 2013, the Corporation transferred out of Level 2 and Level 3 equity securities that now trade on NASDAQ. At December 31, 2013, the securities are classified as Level 1. Additionally during 2013, the Corporation transferred out of Level 3 and into Level 2 four single name TPS. There were no transfers of assets or liabilities between the hierarchy levels for 2012. | |||||||||||||||||||||
The following table presents additional information about assets measured at fair value on a recurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: | |||||||||||||||||||||
Pooled Trust | Other | Equity | Residential | Total | |||||||||||||||||
Preferred | Debt | Securities | Non-Agency | ||||||||||||||||||
Collateralized | Securities | Collateralized | |||||||||||||||||||
Debt | Mortgage | ||||||||||||||||||||
Obligations | Obligations | ||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Balance at beginning of period | $ | 22,456 | $ | 6,892 | $ | 512 | $ | 2,705 | $ | 32,565 | |||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | — | 78 | — | — | 78 | ||||||||||||||||
Included in other comprehensive income | 6,701 | 21 | 18 | (35 | ) | 6,705 | |||||||||||||||
Accretion included in earnings | 3,160 | 4 | — | 12 | 3,176 | ||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | — | ||||||||||||||||
Issuances | 38 | — | — | — | 38 | ||||||||||||||||
Sales/redemptions | — | (1,033 | ) | — | — | (1,033 | ) | ||||||||||||||
Settlements | (760 | ) | — | — | (938 | ) | (1,698 | ) | |||||||||||||
Transfers from Level 3 | — | (5,962 | ) | (120 | ) | — | (6,082 | ) | |||||||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||||
Balance at end of period | $ | 31,595 | $ | — | $ | 410 | $ | 1,744 | $ | 33,749 | |||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Balance at beginning of period | $ | 5,998 | $ | 5,197 | $ | 408 | $ | — | $ | 11,603 | |||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | — | — | — | — | — | ||||||||||||||||
Included in other comprehensive income | 917 | 732 | 104 | 49 | 1,802 | ||||||||||||||||
Accretion included in earnings | 2,515 | 9 | — | 20 | 2,544 | ||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | 16,569 | 954 | — | 4,230 | 21,753 | ||||||||||||||||
Issuances | 46 | — | — | — | 46 | ||||||||||||||||
Sales/redemptions | (2,542 | ) | — | — | — | (2,542 | ) | ||||||||||||||
Settlements | (1,047 | ) | — | — | (1,594 | ) | (2,641 | ) | |||||||||||||
Transfers from Level 3 | — | — | — | — | — | ||||||||||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||||
Balance at end of period | $ | 22,456 | $ | 6,892 | $ | 512 | $ | 2,705 | $ | 32,565 | |||||||||||
The Corporation reviews fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation attributes may result in reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out of Level 3 at fair value at the beginning of the period in which the changes occur. See the Securities footnote in the Notes to Consolidated Financial Statements section of this Report for information relating to significant unobservable inputs used in determining Level 3 fair values. | |||||||||||||||||||||
For the years ended December 31, 2013 and 2012, the amount of total losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of the end of the year was $27 and $212, respectively. These losses are included in net impairment losses on securities reported as a component of non-interest income. | |||||||||||||||||||||
In accordance with GAAP, from time to time, the Corporation measures certain assets at fair value on a non-recurring basis. These adjustments to fair value usually result from the application of lower of cost or fair value accounting or write-downs of individual assets. Valuation methodologies used to measure these fair value adjustments were previously described. For assets measured at fair value on a non-recurring basis still held in the balance sheet, the following table provides the hierarchy level and the fair value of the related assets or portfolios. These amounts represent the fair values at the time the non-recurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon. | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Impaired loans | — | $ | 3,235 | $ | 59 | $ | 3,294 | ||||||||||||||
Other real estate owned | — | 4,485 | 14,957 | 19,442 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Impaired loans | — | $ | 14,325 | $ | 3,171 | $ | 17,496 | ||||||||||||||
Other real estate owned | — | 5,771 | 13,540 | 19,311 | |||||||||||||||||
Investment security, held-to-maturity: | |||||||||||||||||||||
Non-agency CMO | — | — | 3,636 | 3,636 | |||||||||||||||||
Impaired loans measured or re-measured at fair value on a non-recurring basis during 2013 had a carrying amount of $3,728 and an allocated allowance for loan losses of $825 at December 31, 2013. The allocated allowance is based on fair value of $3,294 less estimated costs to sell of $391. The allowance for loan losses includes a provision applicable to the current period fair value measurements of $257, which was included in the provision for loan losses for 2013. | |||||||||||||||||||||
OREO with a carrying amount of $20,830 was written down to $17,060 (fair value of $19,442 less estimated costs to sell of $2,381), resulting in a loss of $3,770, which was included in earnings for 2013. | |||||||||||||||||||||
The investment security held-to-maturity as of December 31, 2012 represents a non-agency CMO where OTTI had been identified and the investment had been adjusted to fair value. This security was sold during the first quarter of 2013. | |||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each financial instrument: | |||||||||||||||||||||
Cash and Cash Equivalents, Accrued Interest Receivable and Accrued Interest Payable. For these short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Securities. For both securities available for sale and securities held to maturity, fair value equals the quoted market price from an active market, if available, and is classified within Level 1. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities or pricing models, and is classified as Level 2. Where there is limited market activity or significant valuation inputs are unobservable, securities are classified within Level 3. Under current market conditions, assumptions used to determine the fair value of Level 3 securities have greater subjectivity due to the lack of observable market transactions. | |||||||||||||||||||||
Loans. The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities less an illiquidity discount. The fair value of variable and adjustable rate loans approximates the carrying amount. Due to the significant judgment involved in evaluating credit quality, loans are classified within Level 3 of the fair value hierarchy. | |||||||||||||||||||||
Bank Owned Life Insurance. The Corporation owns general account, separate account and hybrid account bank owned life insurance (BOLI). The fair value of the general account BOLI is based on the insurance contract cash surrender value. The separate account BOLI has a stable value protection (SVP) component that mitigates the impact of market value fluctuations of the underlying account assets. The SVP component guarantees the book value, which is the insurance contract cash surrender value. The hybrid account BOLI also has a guaranteed book value, except it does not require a stable value protection component. Instead, the insurance carrier incurs the investment return risk, which is imbedded in their fee structure. | |||||||||||||||||||||
If the Corporation’s separate account and hybrid account BOLI book value exceeds the market value of the underlying securities, then the fair value of the separate account and hybrid account BOLI is the cash surrender value. If the Corporation’s separate account and hybrid account BOLI book value is less than the market value of the underlying securities, then the fair value of the separate account and hybrid account BOLI is the quoted market price of the underlying securities. | |||||||||||||||||||||
Derivative Assets and Liabilities. The Corporation determines its fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity and uses observable market based inputs, including interest rate curves and implied volatilities. | |||||||||||||||||||||
The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of non-performance risk, the Corporation considers the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. | |||||||||||||||||||||
Although the Corporation has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2013, the Corporation has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Corporation has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. | |||||||||||||||||||||
Deposits. The estimated fair value of demand deposits, savings accounts and certain money market deposits is the amount payable on demand at the reporting date because of the customers’ ability to withdraw funds immediately. The fair value of fixed-maturity deposits is estimated by discounting future cash flows using rates currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
Short-Term Borrowings. The carrying amounts for short-term borrowings approximate fair value for amounts that mature in 90 days or less. The fair value of subordinated notes is estimated by discounting future cash flows using rates currently offered. | |||||||||||||||||||||
Long-Term and Junior Subordinated Debt. The fair value of long-term and junior subordinated debt is estimated by discounting future cash flows based on the market prices for the same or similar issues or on the current rates offered to the Corporation for debt of the same remaining maturities. | |||||||||||||||||||||
Loan Commitments and Standby Letters of Credit. Estimates of the fair value of these off-balance sheet items were not made because of the short-term nature of these arrangements and the credit standing of the counterparties. Also, unfunded loan commitments relate principally to variable rate commercial loans, typically are non-binding, and fees are not normally assessed on these balances. | |||||||||||||||||||||
Nature of Estimates. 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 to other financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made. Further, 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. | |||||||||||||||||||||
The fair values of the Corporation’s financial instruments are as follows: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 213,981 | $ | 213,981 | $ | 213,981 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,141,650 | 1,141,650 | 649 | 1,107,252 | 33,749 | ||||||||||||||||
Securities held to maturity | 1,199,169 | 1,189,563 | — | 1,182,671 | 6,892 | ||||||||||||||||
Net loans, including loans | 9,402,448 | 9,243,780 | — | — | 9,243,780 | ||||||||||||||||
held for sale | |||||||||||||||||||||
Bank owned life insurance | 289,402 | 292,694 | 292,694 | — | — | ||||||||||||||||
Derivative assets | 33,317 | 33,317 | — | 33,317 | — | ||||||||||||||||
Accrued interest receivable | 35,520 | 35,520 | 35,520 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 10,198,232 | 10,208,268 | 7,592,159 | 2,616,109 | — | ||||||||||||||||
Short-term borrowings | 1,241,239 | 1,241,239 | 1,241,239 | — | — | ||||||||||||||||
Long-term debt | 143,928 | 145,995 | — | — | 145,995 | ||||||||||||||||
Junior subordinated debt | 75,205 | 70,442 | — | — | 70,442 | ||||||||||||||||
Derivative liabilities | 43,369 | 43,369 | — | 43,369 | — | ||||||||||||||||
Accrued interest payable | 7,061 | 7,061 | 7,061 | — | — | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 239,044 | $ | 239,044 | $ | 239,044 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,172,683 | 1,172,683 | 396 | 1,139,722 | 32,565 | ||||||||||||||||
Securities held to maturity | 1,106,563 | 1,143,213 | — | 1,128,524 | 14,689 | ||||||||||||||||
Net loans, including loans | 8,061,096 | 7,996,554 | — | — | 7,966,554 | ||||||||||||||||
held for sale | |||||||||||||||||||||
Bank owned life insurance | 246,088 | 257,060 | 257,060 | — | — | ||||||||||||||||
Derivative assets | 58,008 | 58,008 | — | 58,008 | — | ||||||||||||||||
Accrued interest receivable | 30,210 | 30,210 | 30,210 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 9,082,174 | 9,117,757 | 6,546,316 | 2,571,441 | — | ||||||||||||||||
Short-term borrowings | 1,083,138 | 1,083,138 | 1,083,138 | — | — | ||||||||||||||||
Long-term debt | 89,425 | 92,329 | — | — | 92,329 | ||||||||||||||||
Junior subordinated debt | 204,019 | 172,246 | — | — | 172,246 | ||||||||||||||||
Derivative liabilities | 58,150 | 58,150 | — | 58,150 | — | ||||||||||||||||
Accrued interest payable | 9,054 | 9,054 | 9,054 | — | — |
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 | |||||||||||||
The following is condensed financial information of F.N.B. Corporation (parent company only). In this information, the parent company’s investments in subsidiaries are stated at cost plus equity in undistributed earnings of subsidiaries since acquisition. This information should be read in conjunction with the consolidated financial statements. | |||||||||||||
Balance Sheets | 2013 | 2012 | |||||||||||
December 31 | |||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 145,910 | $ | 114,654 | |||||||||
Securities available for sale | 2,061 | 1,962 | |||||||||||
Other assets | 18,387 | 15,856 | |||||||||||
Investment in bank subsidiary | 1,759,551 | 1,554,543 | |||||||||||
Investments in and advances to non-bank subsidiaries | 254,124 | 253,807 | |||||||||||
Total Assets | $ | 2,180,033 | $ | 1,940,822 | |||||||||
Liabilities | |||||||||||||
Other liabilities | $ | 25,225 | $ | 28,381 | |||||||||
Advances from affiliates | 294,245 | 295,100 | |||||||||||
Junior subordinated debt | 76,290 | 205,156 | |||||||||||
Subordinated notes: | |||||||||||||
Short-term | 8,439 | 8,355 | |||||||||||
Long-term | 1,451 | 1,761 | |||||||||||
Total Liabilities | 405,650 | 538,753 | |||||||||||
Stockholders’ Equity | 1,774,383 | 1,402,069 | |||||||||||
Total Liabilities and Stockholders’ Equity | $ | 2,180,033 | $ | 1,940,822 | |||||||||
Statements of Income | 2013 | 2012 | 2011 | ||||||||||
Year Ended December 31 | |||||||||||||
Income | |||||||||||||
Dividend income from subsidiaries: | |||||||||||||
Bank | $ | 77,153 | $ | 74,412 | $ | 65,130 | |||||||
Non-bank | 5,950 | 6,400 | 8,638 | ||||||||||
83,103 | 80,812 | 73,768 | |||||||||||
Interest income | 5,277 | 5,802 | 6,172 | ||||||||||
Other income | 1,874 | 1,442 | 71 | ||||||||||
Total Income | 90,254 | 88,056 | 80,011 | ||||||||||
Expenses | |||||||||||||
Interest expense | 14,325 | 15,646 | 16,744 | ||||||||||
Other expenses | 8,196 | 7,640 | 6,197 | ||||||||||
Total Expenses | 22,521 | 23,286 | 22,941 | ||||||||||
Income Before Taxes and Equity in Undistributed Income of Subsidiaries | 67,733 | 64,770 | 57,070 | ||||||||||
Income tax benefit | 6,267 | 6,151 | 6,296 | ||||||||||
74,000 | 70,921 | 63,366 | |||||||||||
Equity in undistributed income (loss) of subsidiaries: | |||||||||||||
Bank | 42,094 | 38,401 | 25,508 | ||||||||||
Non-bank | 1,710 | 1,088 | (1,827 | ) | |||||||||
Net Income | $ | 117,804 | $ | 110,410 | $ | 87,047 | |||||||
Statements of Cash Flows | 2013 | 2012 | 2011 | ||||||||||
Year Ended December 31 | |||||||||||||
Operating Activities | |||||||||||||
Net income | $ | 117,804 | $ | 110,410 | $ | 87,047 | |||||||
Adjustments to reconcile net income to net cash flows from operating activities: | |||||||||||||
Undistributed earnings from subsidiaries | (43,804 | ) | (39,489 | ) | (23,681 | ) | |||||||
Other, net | (6,218 | ) | 109 | 8,666 | |||||||||
Net cash flows provided by operating activities | 67,782 | 71,030 | 72,032 | ||||||||||
Investing Activities | |||||||||||||
Proceeds from sale of securities available for sale | 128 | 201 | 389 | ||||||||||
(Increase) decrease in property, plant and equipment | — | 4,193 | (243 | ) | |||||||||
Net decrease (increase) in advances to subsidiaries | 1,080 | (1,349 | ) | (7,551 | ) | ||||||||
Net increase in investment in subsidiaries | (1,688 | ) | (79,450 | ) | (16,611 | ) | |||||||
Net cash flows used in investing activities | (480 | ) | (76,405 | ) | (24,016 | ) | |||||||
Financing Activities | |||||||||||||
Net (decrease) increase in advance from affiliate | (854 | ) | 12,944 | 16,900 | |||||||||
Net increase (decrease) in short-term borrowings | 84 | (2 | ) | (316 | ) | ||||||||
Decrease in long-term debt | (808 | ) | (1,277 | ) | (1,206 | ) | |||||||
Increase in long-term debt | 499 | 671 | 798 | ||||||||||
Decrease in junior subordinated debt | (134,021 | ) | — | — | |||||||||
Net proceeds from issuance of preferred stock | 106,882 | — | — | ||||||||||
Net proceeds from issuance of common stock | 62,092 | 8,895 | 71,053 | ||||||||||
Tax benefit (expense) of stock-based compensation | 1,326 | 386 | (61 | ) | |||||||||
Cash dividends paid | (71,246 | ) | (67,646 | ) | (60,686 | ) | |||||||
Net cash flows (used in) provided by financing activities | (36,046 | ) | (46,029 | ) | 26,482 | ||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 31,256 | (51,404 | ) | 74,498 | |||||||||
Cash and cash equivalents at beginning of year | 114,654 | 166,058 | 91,560 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 145,910 | $ | 114,654 | $ | 166,058 | |||||||
Cash paid during the year for: | |||||||||||||
Interest | $ | 14,345 | $ | 15,690 | $ | 16,768 |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Basis of Presentation | ' | |||
Basis of Presentation | ||||
The Corporation’s accompanying consolidated financial statements and these notes to the financial statements include subsidiaries in which the Corporation has a controlling financial interest. The Corporation owns and operates FNBPA, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, Regency, F.N.B. Capital Corporation, LLC and Bank Capital Services, LLC, and includes results for each of these entities in the accompanying consolidated financial statements. | ||||
The accompanying consolidated financial statements include all adjustments that are necessary, in the opinion of management, to fairly reflect the Corporation’s financial position and results of operations in accordance with U.S. generally accepted accounting principles (GAAP). All significant intercompany balances and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to the current period presentation. Events occurring subsequent to the date of the balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). | ||||
Use of Estimates | ' | |||
Use of Estimates | ||||
The accounting and reporting policies of the Corporation conform with GAAP. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Material estimates that are particularly susceptible to significant changes include the allowance for loan losses, securities valuations, goodwill and other intangible assets and income taxes. | ||||
Business Combinations | ' | |||
Business Combinations | ||||
Business combinations are accounted for by applying the acquisition method in accordance with Accounting Standards Codification (ASC) 805, Business Combinations. Under the acquisition method, identifiable assets acquired and liabilities assumed, and any non-controlling interest in the acquiree at the acquisition date are measured at their fair values as of that date, and are recognized separately from goodwill. Results of operations of the acquired entities are included in the consolidated statement of income from the date of acquisition. | ||||
Cash Equivalents | ' | |||
Cash Equivalents | ||||
The Corporation considers cash and demand balances due from banks as cash and cash equivalents. | ||||
Securities | ' | |||
Securities | ||||
Investment securities, which consist of debt securities and certain equity securities, comprise a significant portion of the Corporation’s consolidated balance sheet. Such securities can be classified as “trading,” “securities held to maturity” or “securities available for sale.” | ||||
Securities are classified as trading securities when management intends to sell such securities in the near term and are carried at fair value, with unrealized gains (losses) reflected through the consolidated statement of income. The Corporation acquired securities in conjunction with acquisitions during 2013 and 2012 that the Corporation classified as trading securities. The Corporation both acquired and sold these trading securities during the quarters in which each of the acquisitions occurred. As of December 31, 2013 and 2012, the Corporation did not hold any trading securities. | ||||
Securities held to maturity are comprised of debt securities, for which management has the positive intent and ability to hold such securities until their maturity. Such securities are carried at cost, adjusted for related amortization of premiums and accretion of discounts through interest income from securities, and other-than-temporary impairment (OTTI), if any. | ||||
Securities that are not classified as trading or held to maturity are classified as available for sale. The Corporation’s available for sale securities portfolio is comprised of debt securities and marketable equity securities. Such securities are carried at fair value with net unrealized gains and losses deemed to be temporary and unrealized losses deemed to be other-than-temporary and attributable to non-credit factors reported separately as a component of other comprehensive income, net of tax. Realized gains and losses on the sale of available for sale securities and credit-related OTTI charges are recorded within non-interest income in the consolidated statement of income. Realized gains and losses on the sale of securities are determined using the specific-identification method. | ||||
The Corporation evaluates its investment securities portfolio for OTTI on a quarterly basis. Impairment is assessed at the individual security level. The Corporation considers an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. | ||||
When impairment of an equity security is considered to be other-than-temporary, the security is written down to its fair value and an impairment loss is recorded as a loss within non-interest income in the consolidated statement of income. When impairment of a debt security is considered to be other-than-temporary, the amount of the OTTI recorded as a loss within non-interest income and thereby recognized in earnings depends on whether the Corporation intends to sell the security or whether it is more likely than not that the Corporation will be required to sell the security before recovery of its amortized cost basis. | ||||
If the Corporation 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, OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value. | ||||
If the Corporation does not intend to sell the debt security and it is not more likely than not the Corporation will be required to sell the security before recovery of its amortized cost basis, OTTI shall be separated into the amount representing credit loss and the amount related to all other market factors. The amount related to credit loss shall be recognized in earnings. The amount related to other market factors shall be recognized in other comprehensive income, net of applicable taxes. | ||||
The Corporation performs its OTTI evaluation process in a consistent and systematic manner and includes an evaluation of all available evidence. Documentation of the process is as extensive as necessary to support a conclusion as to whether a decline in fair value below cost or amortized cost is temporary or other-than-temporary and includes documentation supporting both observable and unobservable inputs and a rationale for conclusions reached. In making these determinations for pooled trust preferred securities (TPS), the Corporation consults with third-party advisory firms to provide additional valuation assistance. | ||||
This process considers factors such as the severity, length of time and anticipated recovery period of the impairment, recoveries or additional declines in fair value subsequent to the balance sheet date, recent events specific to the issuer, including investment downgrades by rating agencies and economic conditions in its industry, and the issuer’s financial condition, repayment capacity, capital strength and near-term prospects. | ||||
For debt securities, the Corporation also considers the payment structure of the debt security, the likelihood of the issuer being able to make future payments, failure of the issuer of the security to make scheduled interest and principal payments, whether the Corporation has made a decision to sell the security and whether the Corporation’s cash or working capital requirements or contractual or regulatory obligations indicate that the debt security will be required to be sold before a forecasted recovery occurs. For equity securities, the Corporation also considers its intent and ability to retain the security for a period of time sufficient to allow for a recovery in fair value. Among the factors that the Corporation considers in determining its intent and ability to retain the security is a review of its capital adequacy, interest rate risk position and liquidity. The assessment of a security’s ability to recover any decline in fair value, the ability of the issuer to meet contractual obligations, the Corporation’s intent and ability to retain the security, and whether it is more likely than not the Corporation will be required to sell the security before recovery of its amortized cost basis require considerable judgment. | ||||
Debt securities with credit ratings below AA at the time of purchase that are repayment-sensitive securities are evaluated using the guidance of ASC 325, Investments – Other. All other securities are required to be evaluated under ASC 320, Investments – Debt Securities. | ||||
Securities Sold Under Agreements to Repurchase | ' | |||
Securities Sold Under Agreements to Repurchase | ||||
Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be sold or repledged by the secured party. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to the Corporation as deemed appropriate. | ||||
Derivative Instruments and Hedging Activities | ' | |||
Derivative Instruments and Hedging Activities | ||||
From time to time, the Corporation may enter into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. The Corporation formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking each hedge transaction. All derivative instruments are carried at fair value on the balance sheet in accordance with the requirements of ASC 815, Derivatives and Hedging. | ||||
Cash flow hedges are accounted for by recording the fair value of the derivative instrument on the balance sheet as either a freestanding asset or liability, with a corresponding offset recorded in accumulated other comprehensive income, net of tax. Amounts are reclassified from accumulated other comprehensive income to the consolidated statement of income in the period or periods in which the hedged transaction affects earnings. | ||||
Derivative gains and losses under cash flow hedges not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the consolidated statement of income. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instruments have been highly effective in offsetting changes in fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. | ||||
In addition, the Corporation enters into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. The Corporation then enters into positions with a derivative counterparty in order to offset its exposure on the fixed components of the customer agreements. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. The Corporation seeks to minimize counterparty credit risk by entering into transactions with only high-quality institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815, Derivatives and Hedging. The interest rate swap agreement with the loan customer and with the counterparty is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period earnings as other income. | ||||
Mortgage Loans Held for Sale and Loan Commitments | ' | |||
Mortgage Loans Held for Sale and Loan Commitments | ||||
Certain residential mortgage loans are originated for sale in the secondary mortgage loan market and typically sold with servicing rights released. These loans are classified as loans held for sale and are carried at the lower of cost or estimated market value on an aggregate basis. Market value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Loans are generally sold at a premium or discount from the carrying amount of the loan. Such premium or discount is recognized at the date of sale. Gain or loss on the sale of loans is recorded in non-interest income at the time consideration is received and all other criteria for sales treatment have been met. | ||||
The Corporation routinely issues commitments to make loans that it intends to sell. These commitments are considered derivatives. The Corporation also enters into commitments to sell loans to mitigate the risk that the market value of residential loans may decline between the time the rate commitment is issued to the customer and the time the Corporation contracts to sell the loan. These commitments and sales contracts are also derivatives. Both types of derivatives are recorded at fair value. Sales contracts and commitments to sell loans are not designated as hedges of the fair value of loans held for sale. Fair value adjustments related to derivatives are recorded in current period earnings as part of mortgage banking income. | ||||
Loans (Excluding Acquired Loans) | ' | |||
Loans (Excluding Acquired Loans) | ||||
Loans the Corporation originates and intends to hold for the foreseeable future or until maturity or payoff are reported at their net book balances, net of any deferred origination fees or costs. Interest income on loans is computed over the term of the loans using the effective interest method. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. | ||||
Non-performing Loans | ' | |||
Non-performing Loans | ||||
Interest is not accrued on loans where collectibility is uncertain. The Corporation discontinues interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days. Past due status is based on the contractual terms of the loan. | ||||
When a loan is placed on non-accrual status, all unpaid interest is reversed. Payments subsequently received are generally applied to either principal or interest or both, depending on management’s evaluation of collectibility. A loan is returned to accrual status when principal and interest are no longer past due and collectibility is probable. This generally requires a sustained period of timely principal and interest payments. | ||||
Loans are generally written off when deemed uncollectible or when they reach a predetermined number of days past due depending upon loan product, terms, and other factors. Recoveries of amounts previously charged off are credited to the allowance for loan losses. | ||||
The Corporation considers a loan impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The impairment loss is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral, less estimated selling costs, if the loan is collateral dependent. Acquired impaired loans are not classified as non-performing assets as the loans are considered to be performing under the provisions of ASC 310-30,Loans and Debt Securities Acquired with Deteriorated Credit Quality. | ||||
Restructured loans are those in which concessions of terms have been made as a result of deterioration in a borrower’s financial condition. In general, the modification or restructuring of a debt constitutes a troubled debt restructuring (TDR) if the Corporation for economic or legal reasons related to the borrower’s financial difficulties grants a concession to the borrower that the Corporation would not otherwise consider under current market conditions. Debt restructurings or loan modifications for a borrower occur during the normal course of business and do not necessarily constitute TDRs. To designate a loan as a TDR, the presence of both borrower financial distress and a concession of terms must exist. Additionally, a loan designated as a TDR does not necessarily result in the automatic placement of the loan on non-accrual status. When the full collection of principal and interest is reasonably assured on a loan designated as a TDR and the borrower does not otherwise meet the criteria for non-accrual status, the Corporation will continue to accrue interest on the loan. | ||||
In accordance with ASC 310-40, a restructured acquired loan that is accounted for as a component of a pool in accordance with ASC 310-30 is not considered a TDR. | ||||
Allowance for Loan Losses | ' | |||
Allowance for Loan Losses | ||||
The allowance for loan losses is established as losses are estimated to have occurred through a provision charged to earnings. Loan losses are charged against the allowance for loan losses when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for loan losses. Allowances for impaired loans are generally determined based on collateral values or the present value of estimated cash flows. Changes in the allowance for loan losses related to impaired loans are charged or credited to the provision for loan losses. | ||||
The allowance for loan losses is maintained at a level that, in management’s judgment, is believed adequate to absorb probable losses associated with specifically identified loans, as well as estimated probable credit losses inherent in the remainder of the loan portfolio. Adequacy of the allowance for loan losses is based on management’s evaluation of potential loan losses in the loan portfolio, which includes an assessment of past experience, current economic conditions in specific industries and geographic areas, general economic conditions, known and inherent risks in the loan portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the loan portfolio. Determination of the allowance for loan losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience and consideration of current environmental factors and economic trends, all of which are susceptible to significant change. | ||||
Credit impaired loans obtained through acquisitions are accounted for under the provisions of ASC 310-30. The Corporation also accounts for certain acquired loans considered performing at the time of acquisition by analogy to ASC 310-30. ASC 310-30 requires the initial recognition of acquired loans at the present value of amounts expected to be received. Any deterioration in the credit quality of acquired loans subsequent to acquisition would be considered in the allowance for loan losses. | ||||
Acquired Loans | ' | |||
Acquired Loans | ||||
Acquired loans (impaired and non-impaired) are initially recorded at their acquisition-date fair values. Fair values are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, default rates, loss severity, collateral values, discount rates, payment speeds, prepayment risk, and liquidity risk. | ||||
The carryover of allowance for loan losses related to acquired loans is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. The allowance for loan losses on acquired loans reflects only those losses incurred after acquisition and represents the present value of cash flows expected at acquisition that is no longer expected to be collected. | ||||
At acquisition, the Corporation considers the following factors as indicators that an acquired loan has evidence of deterioration in credit quality and is therefore impaired and in the scope of ASC 310-30: | ||||
• | loans that were 90 days or more past due; | |||
• | loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well-defined weakness that jeopardizes liquidation of the loan; | |||
• | loans that were classified as non-accrual by the acquired bank at the time of acquisition; or | |||
• | loans that had been previously modified in a TDR. | |||
Any acquired loans that were not individually in the scope of ASC 310-30 because they didn’t meet the criteria above were pooled into groups of similar loans based on various factors including borrower type, loan purpose, and collateral type. For these pools, the Corporation used certain loan information, including outstanding principal balance, estimated expected losses, weighted average maturity, weighted average margin, and weighted average interest rate along with estimated prepayment rates, probability of default and loss given default to estimate the expected cash flow for each loan pool. | ||||
Pursuant to an American Institute of CPAs (AICPA) letter dated December 18, 2009, the AICPA summarized the SEC staff’s view regarding accounting in subsequent periods for discount accretion associated with acquired loan receivables that are not required to be accounted for in accordance with ASC 310-30. The AICPA understands that, in the absence of further standard setting, the SEC staff would not object to an accounting policy based on contractual cash flows (ASC 310-20 approach) or an accounting policy based on expected cash flows (ASC 310-30 approach). The Corporation believes analogizing to ASC 310-30 is the more appropriate option to follow in accounting for discount accretion on non-impaired acquired loans other than revolving loans and therefore accounts for such loans in accordance with ASC 310-30. ASC 310-30 guidance does not apply to revolving loans. Consequently, discount accretion on revolving loans acquired is accounted for using the ASC 310-20 approach. | ||||
The excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield. The accretable yield is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion model). If the timing and/or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition must be used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected at acquisition is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which the Corporation does not expect to collect. | ||||
Over the life of the acquired loan, the Corporation continues to estimate cash flows expected to be collected. Decreases in expected cash flows, other than from prepayments or rate adjustments, are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized on a prospective basis over the loan’s remaining life. | ||||
Acquired loans that met the criteria for non-accrual of interest prior to acquisition are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion model. | ||||
Premises and Equipment | ' | |||
Premises and Equipment | ||||
Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the asset’s estimated useful life. Leasehold improvements are expensed over the lesser of the asset’s estimated useful life or the term of the lease including renewal periods when reasonably assured. Useful lives are dependent upon the nature and condition of the asset and range from 3 to 40 years. Maintenance and repairs are charged to expense as incurred, while major improvements are capitalized and amortized to operating expense over the identified useful life. | ||||
Other Real Estate Owned | ' | |||
Other Real Estate Owned | ||||
Other real estate owned (OREO) is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in other assets initially at the lower of estimated fair value of the asset less estimated selling costs or the carrying amount of the loan. Changes to the value subsequent to transfer are recorded in non-interest expense along with direct operating expenses. Gains or losses not previously recognized resulting from sales of OREO are recognized in non-interest expense on the date of sale. | ||||
Goodwill and Other Intangible Assets | ' | |||
Goodwill and Other Intangible Assets | ||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. Intangible assets that have finite lives, such as core deposit intangibles, customer relationship intangibles and renewal lists, are amortized over their estimated useful lives and subject to periodic impairment testing. Core deposit intangibles are primarily amortized over ten years using straight line and accelerated methods. Customer and renewal lists and other intangible assets are amortized over their estimated useful lives which range from ten to twelve years. | ||||
Goodwill and other intangibles are subject to impairment testing at the reporting unit level, which must be conducted at least annually. The Corporation performs impairment testing during the fourth quarter of each year. Due to ongoing uncertainty regarding market conditions surrounding the banking industry, the Corporation continues to monitor goodwill and other intangibles for impairment and to evaluate carrying amounts, as necessary. | ||||
The Corporation performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing updated qualitative factors, the Corporation determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, it does not have to perform the two-step goodwill impairment test. Determining the fair value of a reporting unit under the first step of the goodwill impairment test and determining the fair value of individual assets and liabilities of a reporting unit under the second step of the goodwill impairment test are judgmental and often involve the use of significant estimates and assumptions. Similarly, estimates and assumptions are used in determining the fair value of other intangible assets. Estimates of fair value are primarily determined using discounted cash flows, market comparisons and recent transactions. These approaches use significant estimates and assumptions including projected future cash flows, discount rates reflecting the market rate of return, projected growth rates and determination and evaluation of appropriate market comparables. Based on the results of quantitative assessments of all reporting units, the Corporation concluded that no impairment existed at December 31, 2013. However, future events could cause the Corporation to conclude that goodwill or other intangibles have become impaired, which would result in recording an impairment loss. Any resulting impairment loss could have a material adverse impact on the Corporation’s financial condition and results of operations. | ||||
Income Taxes | ' | |||
Income Taxes | ||||
The Corporation files a consolidated federal income tax return. The provision for federal and state income taxes is based on income reported on the consolidated financial statements, rather than the amounts reported on the respective income tax returns. Deferred tax assets and liabilities are computed using tax rates expected to apply to taxable income in the years in which those assets and liabilities are expected to be realized. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized as income or expense in the period that the change in tax rates is enacted. | ||||
The Corporation makes certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments are applied in the calculation of certain tax credits and in the calculation of the deferred income tax expense or benefit associated with certain deferred tax assets and liabilities. Significant changes to these estimates may result in an increase or decrease to the Corporation’s tax provision in a subsequent period. The Corporation recognizes interest and/or penalties related to income tax matters in income tax expense. | ||||
The Corporation assesses the likelihood that it will be able to recover its deferred tax assets. If recovery is not likely, the Corporation will increase its provision for income taxes by recording a valuation allowance against the deferred tax assets that are unlikely to be recovered. The Corporation believes that it will ultimately recover a substantial majority of the deferred tax assets recorded on the balance sheet. However, should there be a change in the Corporation’s ability to recover its deferred tax assets, the effect of this change would be recorded through the provision for income taxes in the period during which such change occurs. | ||||
The Corporation periodically reviews the tax positions it takes on its tax return and applies a more likely than not recognition threshold for all tax positions that are uncertain. The amount recognized in the financial statements is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. | ||||
Advertising and Promotional Costs | ' | |||
Advertising and Promotional Costs | ||||
Advertising and promotional costs are generally expensed as incurred. | ||||
Per Share Amounts | ' | |||
Per Share Amounts | ||||
Earnings per common share is computed using net income available to common stockholders, which is net income adjusted for preferred stock dividends. | ||||
Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding net of unvested shares of restricted stock. | ||||
Diluted earnings per common share is calculated by dividing net income available to common stockholders adjusted for interest expense on convertible debt by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options, warrants and restricted shares, as calculated using the treasury stock method. Adjustments to net income available to common stockholders and the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. | ||||
Pension Plans | ' | |||
Pension Plans | ||||
The Corporation sponsors pension plans for its employees. The expense associated with the plans is calculated in accordance with ASC 715, Compensation—Retirement Benefits. The plans utilize assumptions and methods determined in accordance with ASC 715, including reflecting trust assets at their fair value for the qualified pension plans and recognizing the overfunded and underfunded status of the plans on its consolidated balance sheet. Gains and losses, prior service costs and credits are recognized in accumulated other comprehensive income, net of tax, until they are amortized, or immediately upon curtailment. | ||||
Stock Based Compensation | ' | |||
Stock Based Compensation | ||||
The Corporation accounts for its stock based compensation awards in accordance with ASC 718, Compensation – Stock Compensation, which requires the measurement and recognition of compensation expense, based on estimated fair values, for all share-based awards, including stock options and restricted stock, made to employees and directors. | ||||
ASC 718 requires companies to estimate the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Corporation’s consolidated statement of income over the shorter of requisite service periods or the period through the date that the employee first becomes eligible to retire. Because share-based compensation expense is based on awards that are ultimately expected to vest, share-based compensation expense has been reduced to account for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | ||||
Troubled Debt Restructurings | ' | |||
Troubled Debt Restructurings | ||||
In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, to clarify when an in-substance repossession or foreclosure occurs; that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and OREO recognized. This update requires a creditor to reclassify a collateralized consumer mortgage loan to OREO upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying all interest in the real estate property to the lender to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. The requirements of ASU 2014-04 are effective for reporting periods beginning after December 15, 2014. The adoption of this update is not expected to have a material effect on the financial statements, results of operations or liquidity of the Corporation. | ||||
Investments in Qualified Affordable Housing Projects | ' | |||
Investments in Qualified Affordable Housing Projects | ||||
In January 2014, the FASB issued ASU No. 2014-01, Accounting for Investments in Qualified Affordable Housing Projects, to revise the accounting for investments in qualified affordable housing projects. This update modifies the conditions that must be met to present the pretax effects and related tax benefits of such investments as a component of income taxes (“net” within income tax expense). It is expected that the new guidance will enable more investors to use a “net” presentation for investments in qualified affordable housing projects. Investors that do not qualify for “net” presentation under the new guidance will continue to account for such investments under the equity method or cost method, which results in losses recognized in pretax income and tax benefits recognized in income taxes (“gross” presentation of investment results). For investments that qualify for the “net” presentation of investment performance, the guidance introduces a “proportional amortization method” that can be elected to amortize the investment basis. If elected, the method is required for all eligible investments in qualified affordable housing projects. The requirements of ASU 2014-01 are effective for reporting periods beginning after December 15, 2014, with early adoption permitted. The adoption of this update is not expected to have a material effect on the financial statements, results of operations or liquidity of the Corporation. | ||||
Comprehensive Income | ' | |||
Comprehensive Income | ||||
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, that requires an entity to report the effects of significant reclassifications out of each component of accumulated other comprehensive income on the respective line item in net income if the amount being reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For amounts not required to be reclassified in their entirety in the same reporting period, an entity shall add a cross reference to the related footnote where additional information about the effect of the reclassification is disclosed. The requirements of ASU 2013-02 were effective prospectively for reporting periods beginning after December 15, 2012. The adoption of this update did not have a material effect on the financial statements, results of operations or liquidity of the Corporation. | ||||
Disclosures about Offsetting Assets and Liabilities | ' | |||
Disclosures about Offsetting Assets and Liabilities | ||||
In January 2013, the FASB issued ASU No. 2013-01, Scope Clarification of Disclosures about Offsetting Assets and Liabilities, that clarifies the scope of its previously issued guidance, limiting the disclosure requirements to derivative instruments, repurchase agreements and reverse repurchase agreements and securities borrowing and lending transactions to the extent that they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement. The requirements of ASU 2013-01 were effective on January 1, 2013. The adoption of this update did not have a material effect on the financial statements, results of operations or liquidity of the Corporation. |
Mergers_and_Acquisitions_Table
Mergers and Acquisitions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Amounts Recorded on Consolidated Balance Sheet in Conjunction with Acquisition | ' | ||||||||||||
The following table summarizes the amounts recorded on the consolidated balance sheet as of each of the acquisition dates in conjunction with the Parkvale, ANNB and PVF acquisitions: | |||||||||||||
Parkvale | Annapolis | PVF | |||||||||||
Financial | Bancorp, | Capital | |||||||||||
Corporation | Inc. | Corp. | |||||||||||
Fair value of consideration paid: | |||||||||||||
Common stock issued, net of offering costs | $ | 136,441 | $ | 54,065 | $ | 109,856 | |||||||
Warrant assumed | 4,459 | 2,235 | — | ||||||||||
Total consideration paid | 140,900 | 56,300 | 109,856 | ||||||||||
Fair value of identifiable assets acquired: | |||||||||||||
Cash and cash equivalents | 203,538 | 41,986 | 99,650 | ||||||||||
Securities | 486,186 | 99,309 | 47,258 | ||||||||||
Loans | 919,480 | 256,199 | 512,566 | ||||||||||
Other intangible assets | 16,033 | 3,775 | 15,288 | ||||||||||
Accrued income and other assets | 118,648 | 28,948 | 63,724 | ||||||||||
Total identifiable assets acquired | 1,743,885 | 430,217 | 738,486 | ||||||||||
Fair value of liabilities assumed: | |||||||||||||
Deposits | 1,525,253 | 349,370 | 627,046 | ||||||||||
Borrowings | 171,606 | 58,204 | 37,241 | ||||||||||
Accrued expenses and other liabilities | 12,728 | 3,753 | 15,627 | ||||||||||
Total liabilities assumed | 1,709,587 | 411,327 | 679,914 | ||||||||||
Fair value of net identifiable assets acquired | 34,298 | 18,890 | 58,572 | ||||||||||
Goodwill recognized | $ | 106,602 | $ | 37,410 | $ | 51,284 | |||||||
Summary of Pro Forma Information Estimated | ' | ||||||||||||
The following pro forma information for the year ended December 31, 2011 reflects the Corporation’s estimated consolidated results of operations as if the Parkvale acquisition occurred on January 1, 2011, unadjusted for potential cost savings: | |||||||||||||
Year Ended December 31 | 2011 | ||||||||||||
Revenue (net interest income and non-interest income) | $ | 486,818 | |||||||||||
Net income | 96,299 | ||||||||||||
Net income available to common stockholders | 94,711 | ||||||||||||
Earnings per common share – basic | 0.69 | ||||||||||||
Earnings per common share – diluted | 0.69 |
Securities_Tables
Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Schedule of Amortized Cost and Fair Value of Securities Available for Sale | ' | ||||||||||||||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | $ | 336,763 | $ | 126 | $ | (5,904 | ) | $ | 330,985 | ||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 247,880 | 4,304 | (1,303 | ) | 250,881 | ||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 511,098 | 895 | (20,794 | ) | 491,199 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,747 | 15 | — | 1,762 | |||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 16,842 | 410 | (250 | ) | 17,002 | ||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 37,203 | 4,507 | (10,115 | ) | 31,595 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 16,505 | 524 | (929 | ) | 16,100 | ||||||||||||||||||||||||||||||||||||||||
Total debt securities | 1,168,038 | 10,781 | (39,295 | ) | 1,139,524 | ||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,444 | 682 | — | 2,126 | |||||||||||||||||||||||||||||||||||||||||
$ | 1,169,482 | $ | 11,463 | $ | (39,295 | ) | $ | 1,141,650 | |||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | $ | 352,910 | $ | 1,676 | $ | (129 | ) | $ | 354,457 | ||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 267,575 | 7,575 | — | 275,150 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 465,574 | 4,201 | (228 | ) | 469,547 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 2,679 | 50 | — | 2,729 | |||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 23,592 | 1,232 | — | 24,824 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 34,765 | 967 | (13,276 | ) | 22,456 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 21,790 | 695 | (972 | ) | 21,513 | ||||||||||||||||||||||||||||||||||||||||
Total debt securities | 1,168,885 | 16,396 | (14,605 | ) | 1,170,676 | ||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,554 | 462 | (9 | ) | 2,007 | ||||||||||||||||||||||||||||||||||||||||
$ | 1,170,439 | $ | 16,858 | $ | (14,614 | ) | $ | 1,172,683 | |||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | $ | 231,187 | $ | 642 | $ | — | $ | 231,829 | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 166,758 | 4,853 | — | 171,611 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 181,493 | 2,236 | — | 183,729 | |||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 31 | — | (1 | ) | 30 | ||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 38,509 | 1,841 | — | 40,350 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 19,224 | — | (13,226 | ) | 5,998 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 6,863 | — | (1,666 | ) | 5,197 | ||||||||||||||||||||||||||||||||||||||||
Total debt securities | 644,065 | 9,572 | (14,893 | ) | 638,744 | ||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,593 | 257 | (23 | ) | 1,827 | ||||||||||||||||||||||||||||||||||||||||
$ | 645,658 | $ | 9,829 | $ | (14,916 | ) | $ | 640,571 | |||||||||||||||||||||||||||||||||||||
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | ' | ||||||||||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 503 | $ | 99 | $ | — | $ | 602 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 43,322 | 180 | (1,151 | ) | 42,351 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 628,681 | 12,281 | (6,032 | ) | 634,930 | ||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 385,408 | 764 | (15,844 | ) | 370,328 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 6,852 | 44 | (4 | ) | 6,892 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 2,241 | 124 | (37 | ) | 2,328 | ||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 132,162 | 1,992 | (2,022 | ) | 132,132 | ||||||||||||||||||||||||||||||||||||||||
$ | 1,199,169 | $ | 15,484 | $ | (25,090 | ) | $ | 1,189,563 | |||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 503 | $ | 188 | $ | — | $ | 691 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 28,731 | 280 | (99 | ) | 28,912 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 780,022 | 28,783 | (1 | ) | 808,804 | ||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 133,976 | 1,266 | — | 135,242 | |||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 14,082 | 130 | — | 14,212 | |||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 1,024 | 39 | — | 1,063 | |||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 147,713 | 6,099 | — | 153,812 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 512 | — | (35 | ) | 477 | ||||||||||||||||||||||||||||||||||||||||
$ | 1,106,563 | $ | 36,785 | $ | (135 | ) | $ | 1,143,213 | |||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 504 | $ | 185 | $ | — | $ | 689 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 4,019 | 175 | — | 4,194 | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 683,100 | 28,722 | — | 711,822 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 54,319 | 573 | (11 | ) | 54,881 | ||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 24,348 | 143 | (1,373 | ) | 23,118 | ||||||||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 147,748 | 6,877 | — | 154,625 | |||||||||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 1,592 | — | (314 | ) | 1,278 | ||||||||||||||||||||||||||||||||||||||||
Other debt securities | 1,582 | 25 | (181 | ) | 1,426 | ||||||||||||||||||||||||||||||||||||||||
$ | 917,212 | $ | 36,700 | $ | (1,879 | ) | $ | 952,033 | |||||||||||||||||||||||||||||||||||||
Gross Gains and Gross Losses Realized on Sales of Securities | ' | ||||||||||||||||||||||||||||||||||||||||||||
Gross gains and gross losses were realized on securities as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||
Gross gains | $ | 1,200 | $ | 1,154 | $ | 3,848 | |||||||||||||||||||||||||||||||||||||||
Gross losses | (392 | ) | (849 | ) | (196 | ) | |||||||||||||||||||||||||||||||||||||||
$ | 808 | $ | 305 | $ | 3,652 | ||||||||||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities, by Contractual Maturities | ' | ||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013, the amortized cost and fair value of securities, by contractual maturities, were as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||||||||||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | $ | 3,376 | $ | 3,421 | |||||||||||||||||||||||||||||||||||||
Due from one to five years | 281,854 | 278,833 | 47,666 | 46,735 | |||||||||||||||||||||||||||||||||||||||||
Due from five to ten years | 79,155 | 77,071 | 51,161 | 51,798 | |||||||||||||||||||||||||||||||||||||||||
Due after ten years | 46,304 | 39,778 | 73,784 | 73,131 | |||||||||||||||||||||||||||||||||||||||||
407,313 | 395,682 | 175,987 | 175,085 | ||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 247,880 | 250,881 | 628,681 | 634,930 | |||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 511,098 | 491,199 | 385,408 | 370,328 | |||||||||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,747 | 1,762 | 6,852 | 6,892 | |||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | — | 2,241 | 2,328 | |||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,444 | 2,126 | — | — | |||||||||||||||||||||||||||||||||||||||||
$ | 1,169,482 | $ | 1,141,650 | $ | 1,199,169 | $ | 1,189,563 | ||||||||||||||||||||||||||||||||||||||
Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment | ' | ||||||||||||||||||||||||||||||||||||||||||||
Following are summaries of the fair values and unrealized losses of securities, segregated by length of impairment: | |||||||||||||||||||||||||||||||||||||||||||||
Less than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||||||||||||||||||||||
# | Fair | Unrealized | # | Fair | Unrealized | # | Fair | Unrealized | |||||||||||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 17 | $ | 232,962 | $ | (5,904 | ) | — | $ | — | $ | — | 17 | $ | 232,962 | $ | (5,904 | ) | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 9 | 108,284 | (1,303 | ) | — | — | — | 9 | 108,284 | (1,303 | ) | ||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 26 | 389,989 | (18,644 | ) | 2 | 34,229 | (2,150 | ) | 28 | 424,218 | (20,794 | ) | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 2 | 3,022 | (250 | ) | — | — | — | 2 | 3,022 | (250 | ) | ||||||||||||||||||||||||||||||||||
Collateralized debt obligations | — | — | — | 8 | 7,965 | (10,115 | ) | 8 | 7,965 | (10,115 | ) | ||||||||||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 5,950 | (929 | ) | 4 | 5,950 | (929 | ) | ||||||||||||||||||||||||||||||||||
54 | $ | 734,257 | $ | (26,101 | ) | 14 | $ | 48,144 | $ | (13,194 | ) | 68 | $ | 782,401 | $ | (39,295 | ) | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 3 | $ | 44,868 | $ | (129 | ) | — | $ | — | $ | — | 3 | $ | 44,868 | $ | (129 | ) | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 3 | 47,174 | (228 | ) | — | — | — | 3 | 47,174 | (228 | ) | ||||||||||||||||||||||||||||||||||
Collateralized debt obligations | 7 | 8,708 | (909 | ) | 9 | 5,532 | (12,367 | ) | 16 | 14,240 | (13,276 | ) | |||||||||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 5,899 | (972 | ) | 4 | 5,899 | (972 | ) | ||||||||||||||||||||||||||||||||||
Equity securities | 1 | 654 | (9 | ) | — | — | — | 1 | 654 | (9 | ) | ||||||||||||||||||||||||||||||||||
14 | $ | 101,404 | $ | (1,275 | ) | 13 | $ | 11,431 | $ | (13,339 | ) | 27 | $ | 112,835 | $ | (14,614 | ) | ||||||||||||||||||||||||||||
Less than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||||||||||||||||||||||
# | Fair Value | Unrealized | # | Fair | Unrealized | # | Fair Value | Unrealized | |||||||||||||||||||||||||||||||||||||
Losses | Value | Losses | Losses | ||||||||||||||||||||||||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 24,513 | $ | (530 | ) | 1 | $ | 14,378 | $ | (621 | ) | 3 | $ | 38,891 | $ | (1,151 | ) | |||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 24 | 308,864 | (5,942 | ) | 1 | 1,296 | (90 | ) | 25 | 310,160 | (6,032 | ) | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 21 | 301,312 | (15,844 | ) | — | — | — | 21 | 301,312 | (15,844 | ) | ||||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 3 | 2,010 | (4 | ) | — | — | — | 3 | 2,010 | (4 | ) | ||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 1 | 984 | (37 | ) | — | — | — | 1 | 984 | (37 | ) | ||||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 27 | 31,537 | (2,022 | ) | — | — | — | 27 | 31,537 | (2,022 | ) | ||||||||||||||||||||||||||||||||||
78 | $ | 669,220 | $ | (24,379 | ) | 2 | $ | 15,674 | $ | (711 | ) | 80 | $ | 684,894 | $ | (25,090 | ) | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 1 | $ | 14,901 | $ | (99 | ) | — | $ | — | $ | — | 1 | $ | 14,901 | $ | (99 | ) | ||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 1 | 1,424 | (1 | ) | — | — | — | 1 | 1,424 | (1 | ) | ||||||||||||||||||||||||||||||||||
Collateralized debt obligations | — | — | — | 1 | 477 | (35 | ) | 1 | 477 | (35 | ) | ||||||||||||||||||||||||||||||||||
2 | $ | 16,325 | $ | (100 | ) | 1 | $ | 477 | $ | (35 | ) | 3 | $ | 16,802 | $ | (135 | ) | ||||||||||||||||||||||||||||
Summary of Cumulative Credit-Related OTTI Charges | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of the cumulative credit-related OTTI charges recognized as components of earnings for securities for which a portion of an OTTI is recognized in other comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||
Collateralized | Residential | Equities | Total | ||||||||||||||||||||||||||||||||||||||||||
Debt | Non-Agency | ||||||||||||||||||||||||||||||||||||||||||||
Obligations | CMOs | ||||||||||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 17,155 | $ | 212 | $ | — | $ | 17,367 | |||||||||||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | — | 27 | 27 | |||||||||||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | — | (212 | ) | — | (212 | ) | |||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 17,155 | $ | — | $ | 27 | $ | 17,182 | |||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 18,369 | $ | 29 | — | $ | 18,398 | ||||||||||||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | 212 | — | 212 | |||||||||||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | (1,214 | ) | (29 | ) | — | (1,243 | ) | ||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 17,155 | $ | 212 | — | $ | 17,367 | ||||||||||||||||||||||||||||||||||||||
Trust Preferred Securities | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table provides information relating to the Corporation’s TPS as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||
Security | Class | Current | Amortized | Fair | Unrealized | Lowest | Number of | Actual | Actual | Projected | Expected | Excess | |||||||||||||||||||||||||||||||||
Par | Cost | Value | Gain | Credit | Issuers | Defaults | Deferrals | Recovery | Defaults | Subordination | |||||||||||||||||||||||||||||||||||
Value | (Loss) | Ratings | Currently | (as a | (as a | Rates on | (%) (2) | (as a percent | |||||||||||||||||||||||||||||||||||||
Performing | percent of | percent of | Current | of current | |||||||||||||||||||||||||||||||||||||||||
original | original | Deferrals | collateral) (3) | ||||||||||||||||||||||||||||||||||||||||||
collateral) | collateral) | -1 | |||||||||||||||||||||||||||||||||||||||||||
Pooled TPS: | |||||||||||||||||||||||||||||||||||||||||||||
P1 | C1 | $ | 5,500 | $ | 2,611 | $ | 1,567 | $ | (1,044 | ) | C | 42 | 22 | 7 | 41 | 17 | 0 | ||||||||||||||||||||||||||||
P2 | C1 | 4,889 | 3,133 | 1,326 | (1,807 | ) | C | 40 | 16 | 15 | 45 | 14 | 0 | ||||||||||||||||||||||||||||||||
P3 | C1 | 5,561 | 4,416 | 1,691 | (2,725 | ) | C | 46 | 13 | 9 | 34 | 16 | 0 | ||||||||||||||||||||||||||||||||
P4 | C1 | 3,994 | 3,169 | 1,196 | (1,973 | ) | C | 51 | 16 | 6 | 46 | 16 | 0 | ||||||||||||||||||||||||||||||||
P5 | B3 | 2,000 | 780 | 373 | (407 | ) | C | 14 | 29 | 10 | 48 | 11 | 0 | ||||||||||||||||||||||||||||||||
P6 | B1 | 3,028 | 2,539 | 1,016 | (1,523 | ) | C | 50 | 15 | 18 | 50 | 10 | 0 | ||||||||||||||||||||||||||||||||
P7 | C | 5,048 | 864 | 1,453 | 589 | C | 38 | 14 | 19 | 38 | 13 | 0 | |||||||||||||||||||||||||||||||||
P8 | C | 2,011 | 788 | 341 | (447 | ) | C | 44 | 16 | 11 | 36 | 17 | 0.32 | ||||||||||||||||||||||||||||||||
P9 | A4L | 2,000 | 645 | 456 | (189 | ) | C | 25 | 16 | 10 | 37 | 11 | 0 | ||||||||||||||||||||||||||||||||
Total OTTI | 34,031 | 18,945 | 9,419 | (9,526 | ) | 350 | 17 | 11 | 42 | 15 | |||||||||||||||||||||||||||||||||||
P10 | C1 | 5,219 | 1,109 | 1,487 | 378 | C | 42 | 22 | 7 | 41 | 17 | 0 | |||||||||||||||||||||||||||||||||
P11 | A2A | 5,000 | 2,240 | 2,384 | 144 | B+ | 40 | 16 | 15 | 45 | 14 | 51.83 | |||||||||||||||||||||||||||||||||
P12 | C1 | 4,781 | 1,371 | 1,454 | 83 | C | 46 | 13 | 9 | 34 | 16 | 0 | |||||||||||||||||||||||||||||||||
P13 | C1 | 5,260 | 1,336 | 1,574 | 238 | C | 51 | 16 | 6 | 46 | 16 | 0 | |||||||||||||||||||||||||||||||||
P14 | C1 | 5,190 | 1,108 | 1,357 | 249 | C | 57 | 15 | 12 | 28 | 17 | 0 | |||||||||||||||||||||||||||||||||
P15 | C1 | 3,206 | 429 | 616 | 187 | C | 41 | 21 | 6 | 23 | 17 | 0 | |||||||||||||||||||||||||||||||||
P16 | C | 3,339 | 678 | 775 | 97 | C | 37 | 17 | 9 | 31 | 14 | 0 | |||||||||||||||||||||||||||||||||
P17 | B | 2,069 | 694 | 763 | 69 | Ca | 33 | 14 | 17 | 40 | 14 | 21.87 | |||||||||||||||||||||||||||||||||
P18 | B2 | 5,000 | 2,243 | 3,096 | 853 | CCC | 19 | 0 | 8 | 90 | 14 | 38.1 | |||||||||||||||||||||||||||||||||
P19 | B | 4,080 | 976 | 1,498 | 522 | C | 44 | 16 | 11 | 36 | 17 | 15 | |||||||||||||||||||||||||||||||||
P20 | A1 | 3,279 | 1,977 | 2,107 | 103 | BB- | 46 | 21 | 6 | 42 | 15 | 55.16 | |||||||||||||||||||||||||||||||||
P21 | B | 5,000 | 1,327 | 1,331 | 4 | C | 16 | 18 | 5 | 49 | 11 | 0 | |||||||||||||||||||||||||||||||||
P22 | C1 | 5,531 | 1,440 | 1,954 | 514 | C | 25 | 15 | 7 | 40 | 10 | 0 | |||||||||||||||||||||||||||||||||
P23 | C1 | 5,606 | 1,330 | 1,780 | 450 | C | 24 | 16 | 8 | 42 | 10 | 0 | |||||||||||||||||||||||||||||||||
Total Not OTTI | 62,560 | 18,258 | 22,176 | 3,918 | 521 | 16 | 9 | 41 | 15 | ||||||||||||||||||||||||||||||||||||
Total Pooled TPS | $ | 96,591 | $ | 37,203 | $ | 31,595 | $ | (5,608 | ) | 871 | 16 | 10 | 41 | 15 | |||||||||||||||||||||||||||||||
Single Issuer TPS: | |||||||||||||||||||||||||||||||||||||||||||||
S1 | $ | 2,000 | $ | 1,955 | $ | 1,580 | $ | (375 | ) | BB | 1 | ||||||||||||||||||||||||||||||||||
S2 | 2,000 | 1,925 | 1,630 | (295 | ) | BBB | 1 | ||||||||||||||||||||||||||||||||||||||
S3 | 2,000 | 2,000 | 1,950 | (50 | ) | B+ | 1 | ||||||||||||||||||||||||||||||||||||||
S4 | 1,000 | 999 | 790 | (209 | ) | BB | 1 | ||||||||||||||||||||||||||||||||||||||
Total Single Issuer TPS | $ | 7,000 | $ | 6,879 | $ | 5,950 | $ | (929 | ) | 4 | |||||||||||||||||||||||||||||||||||
Total TPS | $ | 103,591 | $ | 44,082 | $ | 37,545 | $ | (6,537 | ) | 875 | |||||||||||||||||||||||||||||||||||
-1 | Some current deferrals are expected to cure at rates varying from 10% to 90% after five years. | ||||||||||||||||||||||||||||||||||||||||||||
-2 | Expected future defaults as a percent of remaining performing collateral. | ||||||||||||||||||||||||||||||||||||||||||||
-3 | Excess subordination represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences any credit impairment. |
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Summary of Loans, Net of Unearned Income | ' | ||||||||||||||||||||||||||||
Following is a summary of loans, net of unearned income: | |||||||||||||||||||||||||||||
Originated | Acquired | Total | |||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,640,428 | $ | 604,781 | $ | 3,245,209 | |||||||||||||||||||||||
Commercial and industrial | 1,761,668 | 119,806 | 1,881,474 | ||||||||||||||||||||||||||
Commercial leases | 158,895 | — | 158,895 | ||||||||||||||||||||||||||
Total commercial loans and leases | 4,560,991 | 724,587 | 5,285,578 | ||||||||||||||||||||||||||
Direct installment | 1,387,995 | 79,241 | 1,467,236 | ||||||||||||||||||||||||||
Residential mortgages | 678,227 | 408,512 | 1,086,739 | ||||||||||||||||||||||||||
Indirect installment | 649,701 | 5,886 | 655,587 | ||||||||||||||||||||||||||
Consumer lines of credit | 832,668 | 133,103 | 965,771 | ||||||||||||||||||||||||||
Other | 45,183 | — | 45,183 | ||||||||||||||||||||||||||
$ | 8,154,765 | $ | 1,351,329 | $ | 9,506,094 | ||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,448,471 | $ | 258,575 | $ | 2,707,046 | |||||||||||||||||||||||
Commercial and industrial | 1,555,301 | 47,013 | 1,602,314 | ||||||||||||||||||||||||||
Commercial leases | 130,133 | — | 130,133 | ||||||||||||||||||||||||||
Total commercial loans and leases | 4,133,905 | 305,588 | 4,439,493 | ||||||||||||||||||||||||||
Direct installment | 1,108,865 | 69,665 | 1,178,530 | ||||||||||||||||||||||||||
Residential mortgages | 653,826 | 438,402 | 1,092,228 | ||||||||||||||||||||||||||
Indirect installment | 568,324 | 13,713 | 582,037 | ||||||||||||||||||||||||||
Consumer lines of credit | 732,534 | 72,960 | 805,494 | ||||||||||||||||||||||||||
Other | 39,937 | — | 39,937 | ||||||||||||||||||||||||||
$ | 7,237,391 | $ | 900,328 | $ | 8,137,719 | ||||||||||||||||||||||||
Summary of Loans To Related Parties | ' | ||||||||||||||||||||||||||||
Following is an analysis of these loans to related parties: | |||||||||||||||||||||||||||||
Total loans at December 31, 2012 | $ | 74,096 | |||||||||||||||||||||||||||
New loans | 3,210 | ||||||||||||||||||||||||||||
Repayments | (7,749 | ) | |||||||||||||||||||||||||||
Other | (25,334 | ) | |||||||||||||||||||||||||||
Total loans at December 31, 2013 | $ | 44,223 | |||||||||||||||||||||||||||
Carrying Amounts at Acquisition of All Purchased Loans (Impaired and Non-Impaired) Acquired | ' | ||||||||||||||||||||||||||||
The following table reflects amounts at acquisition for all purchased loans subject to ASC310-30 (impaired and non-impaired) acquired from PVF and ANNB in 2013 and Parkvale in 2012: | |||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||
Impaired | Performing | ||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Acquired from PVF and ANNB in 2013 | |||||||||||||||||||||||||||||
Contractually required cash flows at acquisition | $ | 40,972 | $ | 796,114 | $ | 837,086 | |||||||||||||||||||||||
Non-accretable difference (expected losses and foregone interest) | (23,207 | ) | (52,992 | ) | (76,199 | ) | |||||||||||||||||||||||
Cash flows expected to be collected at acquisition | 17,765 | 743,122 | 760,887 | ||||||||||||||||||||||||||
Accretable yield | (2,505 | ) | (112,847 | ) | (115,352 | ) | |||||||||||||||||||||||
Basis in acquired loans at acquisition | $ | 15,260 | $ | 630,275 | $ | 645,535 | |||||||||||||||||||||||
Acquired from Parkvale in 2012 | |||||||||||||||||||||||||||||
Contractually required cash flows at acquisition | $ | 12,224 | $ | 1,327,342 | $ | 1,339,566 | |||||||||||||||||||||||
Non-accretable difference (expected losses and foregone interest) | (6,070 | ) | (214,541 | ) | (220,611 | ) | |||||||||||||||||||||||
Cash flows expected to be collected at acquisition | 6,154 | 1,112,801 | 1,118,955 | ||||||||||||||||||||||||||
Accretable yield | (589 | ) | (293,594 | ) | (294,183 | ) | |||||||||||||||||||||||
Basis in acquired loans at acquisition | $ | 5,565 | $ | 819,207 | $ | 824,772 | |||||||||||||||||||||||
Summary of Change in Accretable Yield of Acquired Loans | ' | ||||||||||||||||||||||||||||
The following table provides a summary of change in accretable yield for all acquired loans: | |||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||
Impaired | Performing | ||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 778 | $ | 253,375 | $ | 254,153 | |||||||||||||||||||||||
Acquisitions | 2,505 | 112,847 | 115,352 | ||||||||||||||||||||||||||
Reduction due to unexpected early payoffs | — | (42,582 | ) | (42,582 | ) | ||||||||||||||||||||||||
Reclass from non-accretable difference | 8,097 | 8,296 | 16,393 | ||||||||||||||||||||||||||
Disposals/transfers | (368 | ) | (224 | ) | (592 | ) | |||||||||||||||||||||||
Accretion | (3,556 | ) | (33,522 | ) | (37,078 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 7,456 | $ | 298,190 | $ | 305,646 | |||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 2,477 | $ | 49,229 | $ | 51,706 | |||||||||||||||||||||||
Acquisitions | 589 | 293,594 | 294,183 | ||||||||||||||||||||||||||
Reduction due to unexpected early payoffs | — | (57,840 | ) | (57,840 | ) | ||||||||||||||||||||||||
Reclass from non-accretable difference | 3,539 | 10,915 | 14,454 | ||||||||||||||||||||||||||
Disposals/transfers | (49 | ) | (615 | ) | (664 | ) | |||||||||||||||||||||||
Accretion | (5,778 | ) | (41,908 | ) | (47,686 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 778 | $ | 253,375 | $ | 254,153 | |||||||||||||||||||||||
Summary of Purchased Credit-Impaired Loans, Information Identified in Corporation's Acquisition of ANNB and Parkvale | ' | ||||||||||||||||||||||||||||
Following is information about PCI loans identified in the Corporation’s acquisition of PVF: | |||||||||||||||||||||||||||||
At | December 31, | ||||||||||||||||||||||||||||
Acquisition | 2013 | ||||||||||||||||||||||||||||
Outstanding balance | $ | 29,811 | $ | 29,642 | |||||||||||||||||||||||||
Carrying amount | 11,412 | 11,063 | |||||||||||||||||||||||||||
Allowance for loan losses | n/a | — | |||||||||||||||||||||||||||
Impairment recognized since acquisition | n/a | — | |||||||||||||||||||||||||||
Allowance reduction recognized since acquisition | n/a | — | |||||||||||||||||||||||||||
Following is information about PCI loans identified in the Corporation’s acquisition of ANNB: | |||||||||||||||||||||||||||||
At | December 31, | ||||||||||||||||||||||||||||
Acquisition | 2013 | ||||||||||||||||||||||||||||
Outstanding balance | $ | 12,220 | $ | 5,580 | |||||||||||||||||||||||||
Carrying amount | 3,848 | 2,308 | |||||||||||||||||||||||||||
Allowance for loan losses | n/a | — | |||||||||||||||||||||||||||
Impairment recognized since acquisition | n/a | 31 | |||||||||||||||||||||||||||
Allowance reduction recognized since acquisition | n/a | — | |||||||||||||||||||||||||||
Summary of Information about Corporation's Purchased Credit-Impaired Loans | ' | ||||||||||||||||||||||||||||
Following is information about the Corporation’s PCI loans: | |||||||||||||||||||||||||||||
Outstanding | Non-Accretable | Expected | Accretable | Recorded | |||||||||||||||||||||||||
Balance | Difference | Cash Flows | Yield | Investment | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 41,134 | $ | (23,733 | ) | $ | 17,401 | $ | (778 | ) | $ | 16,623 | |||||||||||||||||
Acquisitions | 42,031 | (24,266 | ) | 17,765 | (2,505 | ) | 15,260 | ||||||||||||||||||||||
Accretion | — | — | — | 3,556 | 3,556 | ||||||||||||||||||||||||
Payments received | (10,670 | ) | 1,345 | (9,325 | ) | — | (9,325 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | — | 8,097 | 8,097 | (8,097 | ) | — | |||||||||||||||||||||||
Disposals/transfers | (18,695 | ) | 14,405 | (4,290 | ) | 368 | (3,922 | ) | |||||||||||||||||||||
Contractual interest | 2,700 | (2,700 | ) | — | — | — | |||||||||||||||||||||||
Balance at end of period | $ | 56,500 | $ | (26,852 | ) | $ | 29,648 | $ | (7,456 | ) | $ | 22,192 | |||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 51,693 | $ | (33,377 | ) | $ | 18,316 | $ | (2,477 | ) | $ | 15,839 | |||||||||||||||||
Acquisitions | 9,135 | (2,981 | ) | 6,154 | (589 | ) | 5,565 | ||||||||||||||||||||||
Accretion | — | — | — | 5,778 | 5,778 | ||||||||||||||||||||||||
Payments received | (9,556 | ) | — | (9,556 | ) | — | (9,556 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | — | 3,539 | 3,539 | (3,539 | ) | — | |||||||||||||||||||||||
Disposals/transfers | (12,494 | ) | 11,442 | (1,052 | ) | 49 | (1,003 | ) | |||||||||||||||||||||
Contractual interest | 2,356 | (2,356 | ) | — | — | — | |||||||||||||||||||||||
Balance at end of period | $ | 41,134 | $ | (23,733 | ) | $ | 17,401 | $ | (778 | ) | $ | 16,623 | |||||||||||||||||
Summary of Non-Performing Assets | ' | ||||||||||||||||||||||||||||
Following is a summary of non-performing assets: | |||||||||||||||||||||||||||||
December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Non-accrual loans | $ | 58,755 | $ | 66,004 | |||||||||||||||||||||||||
Troubled debt restructurings | 18,698 | 14,876 | |||||||||||||||||||||||||||
Total non-performing loans | 77,453 | 80,880 | |||||||||||||||||||||||||||
Other real estate owned (OREO) | 40,681 | 35,257 | |||||||||||||||||||||||||||
Total non-performing loans and OREO | 118,134 | 116,137 | |||||||||||||||||||||||||||
Non-performing investments | 797 | 2,809 | |||||||||||||||||||||||||||
Total non-performing assets | $ | 118,931 | $ | 118,946 | |||||||||||||||||||||||||
Asset quality ratios: | |||||||||||||||||||||||||||||
Non-performing loans as a percent of total loans | 0.81 | % | 0.99 | % | |||||||||||||||||||||||||
Non-performing loans + OREO as a percent of total loans + OREO | 1.24 | % | 1.42 | % | |||||||||||||||||||||||||
Non-performing assets as a percent of total assets | 0.88 | % | 0.99 | % | |||||||||||||||||||||||||
Age Analysis of Past Due Loans, by Class | ' | ||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of loans by class segregated by loans originated and loans acquired: | |||||||||||||||||||||||||||||
30-89 Days | ³ 90 Days | Non-Accrual | Total | Current | Total | ||||||||||||||||||||||||
Past Due | Past Due and | Past Due | Loans | ||||||||||||||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 5,428 | $ | 252 | $ | 40,960 | $ | 46,640 | $ | 2,593,788 | $ | 2,640,428 | |||||||||||||||||
Commercial and industrial | 2,066 | 8 | 6,643 | 8,717 | 1,752,951 | 1,761,668 | |||||||||||||||||||||||
Commercial leases | 714 | — | 734 | 1,448 | 157,447 | 158,895 | |||||||||||||||||||||||
Total commercial loans and leases | 8,208 | 260 | 48,337 | 56,805 | 4,504,186 | 4,560,991 | |||||||||||||||||||||||
Direct installment | 9,038 | 3,753 | 4,686 | 17,477 | 1,370,518 | 1,387,995 | |||||||||||||||||||||||
Residential mortgages | 12,681 | 2,401 | 4,260 | 19,342 | 658,885 | 678,227 | |||||||||||||||||||||||
Indirect installment | 5,653 | 471 | 1,060 | 7,184 | 642,517 | 649,701 | |||||||||||||||||||||||
Consumer lines of credit | 1,737 | 1,076 | 412 | 3,225 | 829,443 | 832,668 | |||||||||||||||||||||||
Other | 25 | 10 | — | 35 | 45,148 | 45,183 | |||||||||||||||||||||||
$ | 37,342 | $ | 7,971 | $ | 58,755 | $ | 104,068 | $ | 8,050,697 | $ | 8,154,765 | ||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 5,786 | $ | 533 | $ | 47,895 | $ | 54,214 | $ | 2,394,257 | $ | 2,448,471 | |||||||||||||||||
Commercial and industrial | 7,310 | 456 | 6,017 | 13,783 | 1,541,518 | 1,555,301 | |||||||||||||||||||||||
Commercial leases | 1,671 | — | 965 | 2,636 | 127,497 | 130,133 | |||||||||||||||||||||||
Total commercial loans and leases | 14,767 | 989 | 54,877 | 70,633 | 4,063,272 | 4,133,905 | |||||||||||||||||||||||
Direct installment | 8,834 | 2,717 | 3,342 | 14,893 | 1,093,972 | 1,108,865 | |||||||||||||||||||||||
Residential mortgages | 15,821 | 2,365 | 2,891 | 21,077 | 632,749 | 653,826 | |||||||||||||||||||||||
Indirect installment | 5,114 | 374 | 1,039 | 6,527 | 561,797 | 568,324 | |||||||||||||||||||||||
Consumer lines of credit | 1,633 | 247 | 355 | 2,235 | 730,299 | 732,534 | |||||||||||||||||||||||
Other | 36 | 15 | 3,500 | 3,551 | 36,386 | 39,937 | |||||||||||||||||||||||
$ | 46,205 | $ | 6,707 | $ | 66,004 | $ | 118,916 | $ | 7,118,475 | $ | 7,237,391 | ||||||||||||||||||
30-89 | ³ 90 Days | Non-Accrual | Total | Current | Discount | Total | |||||||||||||||||||||||
Days | Past Due | Past | Loans | ||||||||||||||||||||||||||
Past Due | and Still | Due (1)(2) | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 13,637 | $ | 20,668 | — | $ | 34,305 | $ | 619,197 | $ | (48,721 | ) | $ | 604,781 | |||||||||||||||
Commercial and industrial | 1,860 | 1,899 | — | 3,759 | 124,415 | (8,368 | ) | 119,806 | |||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total commercial loans and leases | 15,497 | 22,567 | — | 38,064 | 743,612 | (57,089 | ) | 724,587 | |||||||||||||||||||||
Direct installment | 1,447 | 1,178 | — | 2,625 | 74,917 | 1,699 | 79,241 | ||||||||||||||||||||||
Residential mortgages | 11,464 | 19,298 | — | 30,762 | 412,704 | (34,954 | ) | 408,512 | |||||||||||||||||||||
Indirect installment | 205 | 31 | — | 236 | 6,267 | (617 | ) | 5,886 | |||||||||||||||||||||
Consumer lines of credit | 1,592 | 2,749 | — | 4,341 | 135,699 | (6,937 | ) | 133,103 | |||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
$ | 30,205 | $ | 45,823 | — | $ | 76,028 | $ | 1,373,199 | $ | (97,898 | ) | $ | 1,351,329 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 6,829 | $ | 13,597 | — | $ | 20,426 | $ | 250,116 | $ | (11,967 | ) | $ | 258,575 | |||||||||||||||
Commercial and industrial | 1,653 | 138 | — | 1,791 | 47,351 | (2,129 | ) | 47,013 | |||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total commercial loans and leases | 8,482 | 13,735 | — | 22,217 | 297,467 | (14,096 | ) | 305,588 | |||||||||||||||||||||
Direct installment | 1,454 | 947 | — | 2,401 | 63,502 | 3,762 | 69,665 | ||||||||||||||||||||||
Residential mortgages | 12,137 | 21,069 | — | 33,206 | 439,620 | (34,424 | ) | 438,402 | |||||||||||||||||||||
Indirect installment | 347 | 56 | — | 403 | 14,089 | (779 | ) | 13,713 | |||||||||||||||||||||
Consumer lines of credit | 379 | 778 | — | 1,157 | 75,800 | (3,997 | ) | 72,960 | |||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
$ | 22,799 | $ | 36,585 | — | $ | 59,384 | $ | 890,478 | $ | (49,534 | ) | $ | 900,328 | ||||||||||||||||
-1 | Past due information for loans acquired is based on the contractual balance outstanding at December 31, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||
-2 | Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion method. | ||||||||||||||||||||||||||||
Summary of Commercial Loans by Credit Quality | ' | ||||||||||||||||||||||||||||
The following tables present a summary of the Corporation’s commercial loans by credit quality category segregated by loans originated and loans acquired as of December 31, 2013. | |||||||||||||||||||||||||||||
Commercial Loan Credit Quality Categories | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Originated Loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,476,988 | $ | 56,140 | $ | 106,599 | $ | 701 | $ | 2,640,428 | |||||||||||||||||||
Commercial and industrial | 1,611,530 | 97,675 | 52,322 | 141 | 1,761,668 | ||||||||||||||||||||||||
Commercial leases | 155,991 | 1,945 | 959 | — | 158,895 | ||||||||||||||||||||||||
$ | 4,244,509 | $ | 155,760 | $ | 159,880 | $ | 842 | $ | 4,560,991 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,282,139 | $ | 57,938 | $ | 106,258 | $ | 2,136 | $ | 2,448,471 | |||||||||||||||||||
Commercial and industrial | 1,472,598 | 32,227 | 49,814 | 662 | 1,555,301 | ||||||||||||||||||||||||
Commercial leases | 126,283 | 243 | 3,607 | — | 130,133 | ||||||||||||||||||||||||
$ | 3,881,020 | $ | 90,408 | $ | 159,679 | $ | 2,798 | $ | 4,133,905 | ||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 442,604 | $ | 74,315 | $ | 85,086 | $ | 2,776 | $ | 604,781 | |||||||||||||||||||
Commercial and industrial | 100,743 | 6,182 | 12,866 | 15 | 119,806 | ||||||||||||||||||||||||
Commercial leases | — | — | — | — | — | ||||||||||||||||||||||||
$ | 543,347 | $ | 80,497 | $ | 97,952 | $ | 2,791 | $ | 724,587 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 204,300 | $ | 14,713 | $ | 39,093 | $ | 469 | $ | 258,575 | |||||||||||||||||||
Commercial and industrial | 39,596 | 3,611 | 3,804 | 2 | 47,013 | ||||||||||||||||||||||||
Commercial leases | — | — | — | — | — | ||||||||||||||||||||||||
$ | 243,896 | $ | 18,324 | $ | 42,897 | $ | 471 | $ | 305,588 | ||||||||||||||||||||
Summary of Consumer Loans by Payment Status | ' | ||||||||||||||||||||||||||||
Following is a table showing originated consumer and other loans by payment status: | |||||||||||||||||||||||||||||
Consumer Loan Credit Quality by Payment Status | |||||||||||||||||||||||||||||
Performing | Non-Performing | Total | |||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Direct installment | $ | 1,377,418 | $ | 10,577 | $ | 1,387,995 | |||||||||||||||||||||||
Residential mortgages | 664,214 | 14,013 | 678,227 | ||||||||||||||||||||||||||
Indirect installment | 648,499 | 1,202 | 649,701 | ||||||||||||||||||||||||||
Consumer lines of credit | 832,071 | 597 | 832,668 | ||||||||||||||||||||||||||
Other | 45,183 | — | 45,183 | ||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Direct installment | $ | 1,100,324 | $ | 8,541 | $ | 1,108,865 | |||||||||||||||||||||||
Residential mortgages | 642,406 | 11,420 | 653,826 | ||||||||||||||||||||||||||
Indirect installment | 567,192 | 1,132 | 568,324 | ||||||||||||||||||||||||||
Consumer lines of credit | 731,788 | 746 | 732,534 | ||||||||||||||||||||||||||
Other | 36,437 | 3,500 | 39,937 | ||||||||||||||||||||||||||
Summary of Impaired Loans, by Class | ' | ||||||||||||||||||||||||||||
Following is a summary of information pertaining to originated loans considered to be impaired, by class of loans: | |||||||||||||||||||||||||||||
At or For the Year Ended | Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||
December 31, 2013 | Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | $ | 40,472 | $ | 62,034 | $ | — | $ | 37,376 | |||||||||||||||||||||
Commercial and industrial | 7,301 | 8,669 | — | 8,304 | |||||||||||||||||||||||||
Commercial leases | 734 | 734 | — | 758 | |||||||||||||||||||||||||
Total commercial loans and leases | 48,507 | 71,437 | — | 46,438 | |||||||||||||||||||||||||
Direct installment | 10,577 | 10,830 | — | 10,557 | |||||||||||||||||||||||||
Residential mortgages | 14,012 | 14,560 | — | 13,565 | |||||||||||||||||||||||||
Indirect installment | 1,202 | 2,633 | — | 1,127 | |||||||||||||||||||||||||
Consumer lines of credit | 597 | 668 | — | 573 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | 3,603 | 3,818 | 701 | 14,379 | |||||||||||||||||||||||||
Commercial and industrial | 122 | 130 | 123 | 126 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 3,725 | 3,948 | 824 | 14,505 | |||||||||||||||||||||||||
Direct installment | — | — | — | — | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | — | — | — | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial real estate | 44,075 | 65,852 | 701 | 51,755 | |||||||||||||||||||||||||
Commercial and industrial | 7,423 | 8,799 | 123 | 8,430 | |||||||||||||||||||||||||
Commercial leases | 734 | 734 | — | 758 | |||||||||||||||||||||||||
Total commercial loans and leases | 52,232 | 75,385 | 824 | 60,943 | |||||||||||||||||||||||||
Direct installment | 10,577 | 10,830 | — | 10,557 | |||||||||||||||||||||||||
Residential mortgages | 14,012 | 14,560 | — | 13,565 | |||||||||||||||||||||||||
Indirect installment | 1,202 | 2,633 | — | 1,127 | |||||||||||||||||||||||||
Consumer lines of credit | 597 | 668 | — | 573 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
At or For the Year Ended | Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||
December 31, 2012 | Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||
Balance | Investment | ||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | $ | 37,119 | $ | 50,234 | $ | — | $ | 36,426 | |||||||||||||||||||||
Commercial and industrial | 7,074 | 9,597 | — | 6,992 | |||||||||||||||||||||||||
Commercial leases | 965 | — | — | 1,053 | |||||||||||||||||||||||||
Total commercial loans and leases | 45,158 | 59,831 | — | 44,471 | |||||||||||||||||||||||||
Direct installment | 8,541 | 8,693 | — | 6,443 | |||||||||||||||||||||||||
Residential mortgages | 11,414 | 11,223 | — | 9,059 | |||||||||||||||||||||||||
Indirect installment | 1,132 | 2,381 | — | 1,133 | |||||||||||||||||||||||||
Consumer lines of credit | 746 | 792 | — | 591 | |||||||||||||||||||||||||
Other | 3,500 | 3,500 | — | 3,500 | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | 12,623 | 21,877 | 2,136 | 14,522 | |||||||||||||||||||||||||
Commercial and industrial | 590 | 590 | 590 | 592 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 13,213 | 22,467 | 2,726 | 15,114 | |||||||||||||||||||||||||
Direct installment | — | — | — | — | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | — | — | — | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial real estate | 49,742 | 72,111 | 2,136 | 50,948 | |||||||||||||||||||||||||
Commercial and industrial | 7,664 | 10,187 | 590 | 7,584 | |||||||||||||||||||||||||
Commercial leases | 965 | — | — | 1,053 | |||||||||||||||||||||||||
Total commercial loans and leases | 58,371 | 82,298 | 2,726 | 59,585 | |||||||||||||||||||||||||
Direct installment | 8,541 | 8,693 | — | 6,443 | |||||||||||||||||||||||||
Residential mortgages | 11,414 | 11,223 | — | 9,059 | |||||||||||||||||||||||||
Indirect installment | 1,132 | 2,381 | — | 1,133 | |||||||||||||||||||||||||
Consumer lines of credit | 746 | 792 | — | 591 | |||||||||||||||||||||||||
Other | 3,500 | 3,500 | — | 3,500 | |||||||||||||||||||||||||
Summary of Composition of Total TDRs | ' | ||||||||||||||||||||||||||||
Following is a summary of the composition of total TDRs: | |||||||||||||||||||||||||||||
December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Accruing: | |||||||||||||||||||||||||||||
Performing | $ | 10,220 | $ | 12,659 | |||||||||||||||||||||||||
Non-performing | 18,698 | 14,876 | |||||||||||||||||||||||||||
Non-accrual | 12,705 | 12,385 | |||||||||||||||||||||||||||
$ | 41,623 | $ | 39,920 | ||||||||||||||||||||||||||
Summary of Troubled Debt Restructurings by Class of Loans | ' | ||||||||||||||||||||||||||||
The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: | |||||||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
Commercial real estate | 10 | $ | 4,439 | $ | 3,588 | 21 | $ | 4,067 | $ | 4,505 | |||||||||||||||||||
Commercial and industrial | — | — | — | 8 | 389 | 257 | |||||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | |||||||||||||||||||||||
Total commercial loans and leases | 10 | 4,439 | 3,588 | 29 | 4,456 | 4,762 | |||||||||||||||||||||||
Direct installment | 409 | 4,198 | 3,971 | 362 | 3,876 | 3,763 | |||||||||||||||||||||||
Residential mortgages | 54 | 2,464 | 2,366 | 56 | 2,232 | 2,814 | |||||||||||||||||||||||
Indirect installment | 28 | 117 | 107 | 31 | 169 | 151 | |||||||||||||||||||||||
Consumer lines of credit | 19 | 148 | 143 | 20 | 214 | 315 | |||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||
520 | $ | 11,366 | $ | 10,175 | 498 | $ | 10,947 | $ | 11,805 | ||||||||||||||||||||
Summary of Troubled Debt Restructurings by Class of Loans, Payment Default | ' | ||||||||||||||||||||||||||||
Following is a summary of TDRs, by class of loans, for which there was a payment default, excluding loans that were either charged-off or cured by period end. Default occurs when a loan is 90 days or more past due and is within 12 months of restructuring. | |||||||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | |||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
of | Investment (1) | of | Investment (1) | ||||||||||||||||||||||||||
Contracts | Contracts | ||||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 737 | — | $ | — | |||||||||||||||||||||||
Commercial and industrial | 1 | 12 | — | — | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 2 | 749 | — | — | |||||||||||||||||||||||||
Direct installment | 76 | 380 | 38 | 249 | |||||||||||||||||||||||||
Residential mortgages | 7 | 303 | 5 | 229 | |||||||||||||||||||||||||
Indirect installment | 6 | 36 | 3 | 5 | |||||||||||||||||||||||||
Consumer lines of credit | 1 | 85 | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
92 | $ | 1,553 | 46 | $ | 483 | ||||||||||||||||||||||||
-1 | The recorded investment is as of period end. | ||||||||||||||||||||||||||||
Summary of Changes in Allowance for Loan Losses by Class | ' | ||||||||||||||||||||||||||||
Following is a summary of changes in the allowance for loan losses, by loan class: | |||||||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provision | Balance at | ||||||||||||||||||||||||
Beginning | Offs | Charge- | for Loan | End of | |||||||||||||||||||||||||
of Year | Offs | Losses | Year | ||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 34,810 | $ | (5,465 | ) | $ | 1,799 | $ | (3,666 | ) | $ | 1,404 | $ | 32,548 | |||||||||||||||
Commercial and industrial | 31,849 | (5,124 | ) | 2,108 | (3,016 | ) | 3,770 | 32,603 | |||||||||||||||||||||
Commercial leases | 1,744 | (432 | ) | 179 | (253 | ) | 412 | 1,903 | |||||||||||||||||||||
Total commercial loans and leases | 68,403 | (11,021 | ) | 4,086 | (6,935 | ) | 5,586 | 67,054 | |||||||||||||||||||||
Direct installment | 15,130 | (9,059 | ) | 931 | (8,128 | ) | 10,822 | 17,824 | |||||||||||||||||||||
Residential mortgages | 5,155 | (1,345 | ) | 162 | (1,183 | ) | 1,864 | 5,836 | |||||||||||||||||||||
Indirect installment | 5,449 | (3,337 | ) | 773 | (2,564 | ) | 3,524 | 6,409 | |||||||||||||||||||||
Consumer lines of credit | 6,057 | (1,974 | ) | 274 | (1,700 | ) | 2,874 | 7,231 | |||||||||||||||||||||
Other | — | (965 | ) | — | (965 | ) | 1,495 | 530 | |||||||||||||||||||||
Total allowance on originated loans | 100,194 | (27,701 | ) | 6,226 | (21,475 | ) | 26,165 | 104,884 | |||||||||||||||||||||
Purchased credit-impaired loans | 759 | (299 | ) | — | (299 | ) | 540 | 1,000 | |||||||||||||||||||||
Other acquired loans | 3,421 | (2,530 | ) | (376 | ) | (2,906 | ) | 4,385 | 4,900 | ||||||||||||||||||||
Total allowance on acquired loans | 4,180 | (2,829 | ) | (376 | ) | (3,205 | ) | 4,925 | 5,900 | ||||||||||||||||||||
Total allowance | $ | 104,374 | $ | (30,530 | ) | $ | 5,850 | $ | (24,680 | ) | $ | 31,090 | $ | 110,784 | |||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 43,283 | $ | (8,688 | ) | $ | 1,765 | $ | (6,923 | ) | $ | (1,550 | ) | $ | 34,810 | ||||||||||||||
Commercial and industrial | 25,476 | (8,098 | ) | 693 | (7,405 | ) | 13,778 | 31,849 | |||||||||||||||||||||
Commercial leases | 1,556 | (509 | ) | 224 | (285 | ) | 473 | 1,744 | |||||||||||||||||||||
Total commercial loans and leases | 70,315 | (17,295 | ) | 2,682 | (14,613 | ) | 12,701 | 68,403 | |||||||||||||||||||||
Direct installment | 14,814 | (7,875 | ) | 942 | (6,933 | ) | 7,249 | 15,130 | |||||||||||||||||||||
Residential mortgages | 4,437 | (1,050 | ) | 194 | (856 | ) | 1,574 | 5,155 | |||||||||||||||||||||
Indirect installment | 5,503 | (2,926 | ) | 605 | (2,321 | ) | 2,267 | 5,449 | |||||||||||||||||||||
Consumer lines of credit | 5,447 | (2,137 | ) | 234 | (1,903 | ) | 2,513 | 6,057 | |||||||||||||||||||||
Other | 146 | (1,039 | ) | 14 | (1,025 | ) | 879 | — | |||||||||||||||||||||
Total allowance on originated loans | 100,662 | (32,322 | ) | 4,671 | (27,651 | ) | 27,183 | 100,194 | |||||||||||||||||||||
Purchased credit-impaired loans | — | — | — | — | 759 | 759 | |||||||||||||||||||||||
Other acquired loans | — | (254 | ) | 315 | 61 | 3,360 | 3,421 | ||||||||||||||||||||||
Total allowance on acquired loans | — | (254 | ) | 315 | 61 | 4,119 | 4,180 | ||||||||||||||||||||||
Total allowance | $ | 100,662 | $ | (32,576 | ) | $ | 4,986 | $ | (27,590 | ) | $ | 31,302 | $ | 104,374 | |||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 49,924 | $ | (21,018 | ) | $ | 594 | $ | (20,424 | ) | $ | 13,783 | $ | 43,283 | |||||||||||||||
Commercial and industrial | 24,682 | (3,642 | ) | 368 | (3,274 | ) | 4,068 | 25,476 | |||||||||||||||||||||
Commercial leases | 1,070 | (567 | ) | 75 | (492 | ) | 978 | 1,556 | |||||||||||||||||||||
Total commercial loans and leases | 75,676 | (25,227 | ) | 1,037 | (24,190 | ) | 18,829 | 70,315 | |||||||||||||||||||||
Direct installment | 14,941 | (8,874 | ) | 876 | (7,998 | ) | 7,871 | 14,814 | |||||||||||||||||||||
Residential mortgages | 4,578 | (1,261 | ) | 67 | (1,194 | ) | 1,053 | 4,437 | |||||||||||||||||||||
Indirect installment | 5,941 | (2,957 | ) | 501 | (2,456 | ) | 2,018 | 5,503 | |||||||||||||||||||||
Consumer lines of credit | 4,743 | (2,110 | ) | 213 | (1,897 | ) | 2,601 | 5,447 | |||||||||||||||||||||
Other | 241 | (1,194 | ) | 31 | (1,163 | ) | 1,068 | 146 | |||||||||||||||||||||
Total allowance on originated loans | 106,120 | (41,623 | ) | 2,725 | (38,898 | ) | 33,440 | 100,662 | |||||||||||||||||||||
Purchased credit-impaired loans | — | (208 | ) | 7 | (201 | ) | 201 | — | |||||||||||||||||||||
Other acquired loans | — | — | — | — | — | — | |||||||||||||||||||||||
Total allowance on acquired loans | — | (208 | ) | 7 | (201 | ) | 201 | — | |||||||||||||||||||||
Total allowance | $ | 106,120 | $ | (41,831 | ) | $ | 2,732 | $ | (39,099 | ) | $ | 33,641 | $ | 100,662 | |||||||||||||||
Summary of Individual and Collective Allowance for Loan Losses and Loan Balances by Class | ' | ||||||||||||||||||||||||||||
Following is a summary of the individual and collective originated allowance for loan losses and corresponding originated loan balances by class: | |||||||||||||||||||||||||||||
Allowance | Loans Outstanding | ||||||||||||||||||||||||||||
Individually | Collectively | Originated | Individually | Collectively | |||||||||||||||||||||||||
Evaluated | Evaluated | Loans | Evaluated | Evaluated | |||||||||||||||||||||||||
for | for | for | for | ||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 701 | $ | 31,847 | $ | 2,640,428 | $ | 30,133 | $ | 2,610,295 | |||||||||||||||||||
Commercial and industrial | 123 | 32,480 | 1,761,668 | 4,243 | 1,757,425 | ||||||||||||||||||||||||
Commercial leases | — | 1,903 | 158,895 | — | 158,895 | ||||||||||||||||||||||||
Total commercial loans and leases | 824 | 66,230 | 4,560,991 | 34,376 | 4,526,615 | ||||||||||||||||||||||||
Direct installment | — | 17,824 | 1,387,995 | — | 1,387,995 | ||||||||||||||||||||||||
Residential mortgages | — | 5,836 | 678,227 | — | 678,227 | ||||||||||||||||||||||||
Indirect installment | — | 6,409 | 649,701 | — | 649,701 | ||||||||||||||||||||||||
Consumer lines of credit | — | 7,231 | 832,668 | — | 832,668 | ||||||||||||||||||||||||
Other | — | 530 | 45,183 | — | 45,183 | ||||||||||||||||||||||||
$ | 824 | $ | 104,060 | $ | 8,154,765 | $ | 34,376 | $ | 8,120,389 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,136 | $ | 32,674 | $ | 2,448,471 | $ | 35,024 | $ | 2,413,447 | |||||||||||||||||||
Commercial and industrial | 590 | 31,259 | 1,555,301 | 1,624 | 1,553,677 | ||||||||||||||||||||||||
Commercial leases | — | 1,744 | 130,133 | — | 130,133 | ||||||||||||||||||||||||
Total commercial loans and leases | 2,726 | 65,677 | 4,133,905 | 36,648 | 4,097,257 | ||||||||||||||||||||||||
Direct installment | — | 15,130 | 1,108,865 | — | 1,108,865 | ||||||||||||||||||||||||
Residential mortgages | — | 5,155 | 653,826 | — | 653,826 | ||||||||||||||||||||||||
Indirect installment | — | 5,449 | 568,324 | — | 568,324 | ||||||||||||||||||||||||
Consumer lines of credit | — | 6,057 | 732,534 | — | 732,534 | ||||||||||||||||||||||||
Other | — | — | 39,937 | — | 39,937 | ||||||||||||||||||||||||
$ | 2,726 | $ | 97,468 | $ | 7,237,391 | $ | 36,648 | $ | 7,200,743 | ||||||||||||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Summary Of Premises And Equipment | ' | ||||||||
Following is a summary of premises and equipment: | |||||||||
December 31 | 2013 | 2012 | |||||||
Land | $ | 34,234 | $ | 31,196 | |||||
Premises | 135,633 | 128,259 | |||||||
Equipment | 117,228 | 101,144 | |||||||
287,095 | 260,599 | ||||||||
Accumulated depreciation | (133,063 | ) | (120,232 | ) | |||||
$ | 154,032 | $ | 140,367 | ||||||
Summary Of Future Minimum Lease Payments | ' | ||||||||
Following is a summary of future minimum lease payments for years following December 31, 2013: | |||||||||
2014 | $ | 9,994 | |||||||
2015 | 8,769 | ||||||||
2016 | 7,743 | ||||||||
2017 | 7,131 | ||||||||
2018 | 5,545 | ||||||||
Later years | 26,873 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Rollforward of Goodwill | ' | ||||||||||||||||||||
The following table shows a rollforward of goodwill by line of business: | |||||||||||||||||||||
Community | Wealth | Insurance | Consumer | Total | |||||||||||||||||
Banking | Manage- | Finance | |||||||||||||||||||
ment | |||||||||||||||||||||
Balance at January 1, 2012 | $ | 549,683 | $ | 8,020 | $ | 8,950 | $ | 1,809 | $ | 568,462 | |||||||||||
Goodwill additions | 107,093 | — | — | — | 107,093 | ||||||||||||||||
Balance at December 31, 2012 | 656,776 | 8,020 | 8,950 | 1,809 | 675,555 | ||||||||||||||||
Goodwill additions | 88,693 | — | — | — | 88,693 | ||||||||||||||||
Balance at December 31, 2013 | $ | 745,469 | $ | 8,020 | $ | 8,950 | $ | 1,809 | $ | 764,248 | |||||||||||
Summary of Core Deposit Intangibles, Customer and Renewal Lists and Other Intangible Assets | ' | ||||||||||||||||||||
The following table shows a summary of core deposit intangibles, customer and renewal lists and other intangible assets: | |||||||||||||||||||||
Core | Customer | Other | Total | ||||||||||||||||||
Deposit | and Renewal | Intangible | Finite-lived | ||||||||||||||||||
Intangibles | Lists | Assets | Intangibles | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Gross carrying amount | $ | 97,698 | $ | 10,970 | $ | 10,380 | $ | 119,048 | |||||||||||||
Accumulated amortization | (62,793 | ) | (6,407 | ) | (2,240 | ) | (71,440 | ) | |||||||||||||
$ | 34,905 | $ | 4,563 | $ | 8,140 | $ | 47,608 | ||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Gross carrying amount | $ | 87,056 | $ | 10,970 | $ | 1,859 | $ | 99,885 | |||||||||||||
Accumulated amortization | (55,095 | ) | (5,698 | ) | (1,241 | ) | (62,034 | ) | |||||||||||||
$ | 31,961 | $ | 5,272 | $ | 618 | $ | 37,851 | ||||||||||||||
Schedule of Expected Amortization Expenses on Finite-Lived Intangible Assets | ' | ||||||||||||||||||||
Following is a summary of the expected amortization expense on finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2013: | |||||||||||||||||||||
2014 | $ | 8,615 | |||||||||||||||||||
2015 | 6,590 | ||||||||||||||||||||
2016 | 5,580 | ||||||||||||||||||||
2017 | 4,855 | ||||||||||||||||||||
2018 | 3,379 |
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Summary of Deposits | ' | ||||||||||||
Following is a summary of deposits: | |||||||||||||
December 31 | 2013 | 2012 | |||||||||||
Non-interest bearing demand | $ | 2,200,081 | $ | 1,738,195 | |||||||||
Savings and NOW | 5,392,078 | 4,808,121 | |||||||||||
Certificates and other time deposits | 2,606,073 | 2,535,858 | |||||||||||
$ | 10,198,232 | $ | 9,082,174 | ||||||||||
Time Deposits by Remaining Maturity | ' | ||||||||||||
Following is a summary of these time deposits by remaining maturity at December 31, 2013: | |||||||||||||
Certificates | Other Time | Total | |||||||||||
of Deposit | Deposits | ||||||||||||
Three months or less | $ | 117,298 | $ | 10,297 | $ | 127,595 | |||||||
Three to six months | 121,512 | 8,659 | 130,171 | ||||||||||
Six to twelve months | 190,656 | 25,468 | 216,124 | ||||||||||
Over twelve months | 258,989 | 124,591 | 383,580 | ||||||||||
$ | 688,455 | $ | 169,015 | $ | 857,470 | ||||||||
Summary of Scheduled Maturities of Certificates and Other Time Deposits | ' | ||||||||||||
Following is a summary of the scheduled maturities of certificates and other time deposits for the years following December 31, 2013: | |||||||||||||
2014 | $ | 1,499,828 | |||||||||||
2015 | 485,809 | ||||||||||||
2016 | 279,663 | ||||||||||||
2017 | 211,214 | ||||||||||||
2018 | 93,915 | ||||||||||||
Later years | 35,644 |
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Summary of Short-Term Borrowings | ' | ||||||||
Following is a summary of short-term borrowings: | |||||||||
December 31 | 2013 | 2012 | |||||||
Securities sold under repurchase agreements | $ | 841,741 | $ | 807,820 | |||||
Federal funds purchased | 270,000 | 140,000 | |||||||
Subordinated notes | 129,498 | 135,318 | |||||||
$ | 1,241,239 | $ | 1,083,138 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
Following is a summary of long-term debt: | |||||||||
December 31 | 2013 | 2012 | |||||||
Federal Home Loan Bank advances | $ | 50,076 | $ | 88 | |||||
Subordinated notes | 84,637 | 79,897 | |||||||
Other subordinated debt | 8,637 | 8,850 | |||||||
Convertible subordinated notes | 578 | 590 | |||||||
$ | 143,928 | $ | 89,425 | ||||||
Scheduled Annual Maturities of Long-Term Debt | ' | ||||||||
Scheduled annual maturities for all of the long-term debt for the years following December 31, 2013 are as follows: | |||||||||
2014 | $ | 28,546 | |||||||
2015 | 23,023 | ||||||||
2016 | 75,409 | ||||||||
2017 | 10,445 | ||||||||
2018 | 3,077 | ||||||||
Later years | 3,428 |
Junior_Subordinated_Debt_Table
Junior Subordinated Debt (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||
Junior Subordinated Debt Trusts | ' | ||||||||||||||||||||||
The following table provides information relating to the Trusts as of December 31, 2013: | |||||||||||||||||||||||
Trust | Common | Junior | Stated | Interest | |||||||||||||||||||
Preferred | Securities | Subordinated | Maturity | Rate | |||||||||||||||||||
Securities | Debt | Date | |||||||||||||||||||||
F.N.B. Statutory Trust II | $ | 21,500 | $ | 665 | $ | 22,165 | 6/15/36 | 1.89 | % | Variable; LIBOR + 165 basis points (bps) | |||||||||||||
Omega Financial Capital Trust I | 36,000 | 1,114 | 36,029 | 10/18/34 | 2.44 | % | Variable; LIBOR + 219 bps | ||||||||||||||||
Sun Bancorp Statutory Trust I | 16,500 | 511 | 17,011 | 2/22/31 | 10.2 | % | Fixed | ||||||||||||||||
$ | 74,000 | $ | 2,290 | $ | 75,205 | ||||||||||||||||||
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Offsetting of Derivative Liabilities | ' | ||||||||||||||||
Offsetting of Derivative Liabilities: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Derivative liabilities subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 40,323 | — | $ | 40,323 | ||||||||||||
Derivative liabilities not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 3,014 | — | 3,014 | ||||||||||||||
Equity contracts | 32 | — | 32 | ||||||||||||||
Total derivative liabilities | $ | 43,369 | — | $ | 43,369 | ||||||||||||
December 31, 2012 | |||||||||||||||||
Derivative liabilities subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 58,134 | — | $ | 58,134 | ||||||||||||
Derivative liabilities not subject to master netting arrangement: | |||||||||||||||||
Equity contracts | 16 | — | 16 | ||||||||||||||
Total derivative liabilities | $ | 58,150 | — | $ | 58,150 | ||||||||||||
Offsetting of Derivative Assets | ' | ||||||||||||||||
Gross | Gross | Net Amount | |||||||||||||||
Amount | Amounts | Presented in | |||||||||||||||
Offset in | the Balance | ||||||||||||||||
the Balance | Sheet | ||||||||||||||||
Sheet | |||||||||||||||||
Offsetting of Derivative Assets: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Derivative assets subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 3,547 | — | $ | 3,547 | ||||||||||||
Equity contracts | 32 | — | 32 | ||||||||||||||
Derivative assets not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 29,738 | — | 29,738 | ||||||||||||||
Total derivative assets | $ | 33,317 | — | $ | 33,317 | ||||||||||||
December 31, 2012 | |||||||||||||||||
Derivative assets subject to master netting arrangement: | |||||||||||||||||
Equity contracts | $ | 16 | — | $ | 16 | ||||||||||||
Derivative assets not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 57,992 | — | 57,992 | ||||||||||||||
Total derivative assets | $ | 58,008 | — | $ | 58,008 | ||||||||||||
Derivative Liabilities | ' | ||||||||||||||||
Derivative Liabilities: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Counterparty A | $ | 4,934 | $ | 4,934 | $ | — | $ | — | |||||||||
Counterparty B | 3,249 | 3,249 | — | — | |||||||||||||
Counterparty C | 1,431 | 1,431 | — | — | |||||||||||||
Counterparty D | 9,614 | 9,614 | — | — | |||||||||||||
Counterparty E | 6,257 | 6,257 | — | — | |||||||||||||
Counterparty F | 13 | 13 | — | — | |||||||||||||
Counterparty G | 5,309 | 5,309 | — | — | |||||||||||||
Counterparty H | 2,257 | 125 | — | 2,132 | |||||||||||||
Counterparty I | 5,649 | 5,649 | — | — | |||||||||||||
Counterparty J | 1,610 | — | 1,610 | — | |||||||||||||
$ | 40,323 | $ | 36,581 | $ | 1,610 | $ | 2,132 | ||||||||||
December 31, 2012 | |||||||||||||||||
Counterparty A | $ | 8,393 | $ | 8,393 | — | $ | — | ||||||||||
Counterparty B | 5,601 | 5,601 | — | — | |||||||||||||
Counterparty C | 2,145 | 2,145 | — | — | |||||||||||||
Counterparty D | 12,354 | 12,354 | — | — | |||||||||||||
Counterparty E | 8,846 | 8,846 | — | — | |||||||||||||
Counterparty F | 353 | 282 | — | 71 | |||||||||||||
Counterparty G | 5,497 | 5,497 | — | — | |||||||||||||
Counterparty H | 3,937 | 1,775 | — | 2,162 | |||||||||||||
Counterparty I | 11,008 | 11,008 | — | — | |||||||||||||
$ | 58,134 | $ | 55,901 | — | $ | 2,233 | |||||||||||
Derivative Assets | ' | ||||||||||||||||
Gross Amounts Not Offset in | |||||||||||||||||
the Balance Sheet | |||||||||||||||||
Net Amount | Financial | Cash | Net Amount | ||||||||||||||
Presented in the | Instruments | Collateral | |||||||||||||||
Balance Sheet | Received | ||||||||||||||||
Derivative Assets: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Counterparty B | $ | 24 | $ | 24 | $ | — | $ | — | |||||||||
Counterparty D | 566 | 566 | — | — | |||||||||||||
Counterparty E | 1,696 | 1,696 | — | — | |||||||||||||
Counterparty F | 355 | 273 | — | 82 | |||||||||||||
Counterparty G | 251 | 251 | — | — | |||||||||||||
Counterparty I | 634 | 634 | — | — | |||||||||||||
Counterparty J | 53 | — | 53 | — | |||||||||||||
$ | 3,579 | $ | 3,444 | $ | 53 | $ | 82 | ||||||||||
December 31, 2012 | |||||||||||||||||
Counterparty E | $ | 16 | — | — | $ | 16 | |||||||||||
Effect of Corporation's Derivative Financial Instruments on Income Statement | ' | ||||||||||||||||
The following table presents the effect of the Corporation’s derivative financial instruments on the income statement: | |||||||||||||||||
Income | Year Ended December 31, | ||||||||||||||||
Statement | |||||||||||||||||
Location | 2013 | 2012 | 2011 | ||||||||||||||
Interest Rate Products | Other income | $ | (39 | ) | $ | 167 | $ | (635 | ) |
Commitments_Credit_Risk_and_Co1
Commitments, Credit Risk and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Off-Balance Sheet Credit Risk Information | ' | ||||||||
Following is a summary of off-balance sheet credit risk information: | |||||||||
December 31 | 2013 | 2012 | |||||||
Commitments to extend credit | $ | 2,897,748 | $ | 2,600,355 | |||||
Standby letters of credit | 114,298 | 130,912 |
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Summary of Information Concerning Restricted Stock Awards | ' | ||||||||||||||||||||||||
The following table summarizes certain information concerning restricted stock awards: | |||||||||||||||||||||||||
2013 | Weighted | 2012 | Weighted | 2011 | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Grant | Grant | Grant | |||||||||||||||||||||||
Price per | Price per | Price per | |||||||||||||||||||||||
Share | Share | Share | |||||||||||||||||||||||
Unvested shares outstanding at beginning of year | 1,913,073 | $ | 9.17 | 1,846,115 | $ | 8.44 | 1,309,489 | $ | 8.52 | ||||||||||||||||
Granted | 361,664 | 11.1 | 321,295 | 12.09 | 407,980 | 10.07 | |||||||||||||||||||
Net adjustment due to performance | 165,545 | 9.6 | 28,181 | 8.31 | 229,516 | 8.4 | |||||||||||||||||||
Vested | (734,129 | ) | 7.9 | (179,767 | ) | 8.24 | (172,029 | ) | 13.57 | ||||||||||||||||
Forfeited | (37,828 | ) | 10.42 | (179,132 | ) | 8.5 | (1,749 | ) | 10.09 | ||||||||||||||||
Dividend reinvestment | 60,708 | 11.82 | 76,381 | 11.19 | 72,908 | 10.01 | |||||||||||||||||||
Unvested shares outstanding at end of year | 1,729,033 | 10.23 | 1,913,073 | 9.17 | 1,846,115 | 8.44 | |||||||||||||||||||
Components of Restricted Stock Awards | ' | ||||||||||||||||||||||||
The components of the restricted stock awards as of December 31, 2013 are as follows: | |||||||||||||||||||||||||
Service- | Performance- | Total | |||||||||||||||||||||||
Based | Based | ||||||||||||||||||||||||
Awards | Awards | ||||||||||||||||||||||||
Unvested shares | 446,239 | 1,282,794 | 1,729,033 | ||||||||||||||||||||||
Unrecognized compensation expense | $ | 1,671 | $ | 3,220 | $ | 4,891 | |||||||||||||||||||
Intrinsic value | $ | 5,632 | $ | 16,189 | $ | 21,821 | |||||||||||||||||||
Weighted average remaining life (in years) | 2.16 | 2.22 | 2.2 | ||||||||||||||||||||||
Summary of Information Concerning Stock Option Awards | ' | ||||||||||||||||||||||||
The following table summarizes certain information concerning stock options: | |||||||||||||||||||||||||
2013 | Weighted | 2012 | Weighted | 2011 | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Price per | Price per | Price per | |||||||||||||||||||||||
Share | Share | Share | |||||||||||||||||||||||
Options outstanding at beginning of year | 640,050 | $ | 13.21 | 586,020 | $ | 14.93 | 770,610 | $ | 14.28 | ||||||||||||||||
Assumed from acquisition | 274,964 | 11.16 | 627,808 | 10.41 | — | — | |||||||||||||||||||
Exercised | (69,429 | ) | 7.46 | (182,188 | ) | 8.87 | (8,389 | ) | 2.68 | ||||||||||||||||
Forfeited | (312,061 | ) | 15.58 | (391,590 | ) | 13.32 | (176,201 | ) | 12.67 | ||||||||||||||||
Options outstanding and exercisable at end of year | 533,524 | 11.51 | 640,050 | 13.21 | 586,020 | 14.93 | |||||||||||||||||||
Summary of Stock Options Outstanding | ' | ||||||||||||||||||||||||
The following table summarizes information about stock options outstanding at December 31, 2013: | |||||||||||||||||||||||||
Range of Exercise | Options | Weighted Average | Weighted Average | ||||||||||||||||||||||
Prices | Outstanding | Remaining | Exercise Price | ||||||||||||||||||||||
and Exercisable | Contractual Years | ||||||||||||||||||||||||
$3.45 - $5.18 | 57,517 | 5.33 | $ | 4.32 | |||||||||||||||||||||
$5.19 - $7.78 | 159,503 | 5.21 | 6.14 | ||||||||||||||||||||||
$7.79 - $11.68 | — | — | — | ||||||||||||||||||||||
$11.69 - $17.54 | 259,927 | 3.11 | 12.67 | ||||||||||||||||||||||
$17.55 - $26.32 | 16,375 | 0 | 18.51 | ||||||||||||||||||||||
$26.33 - $36.42 | 40,202 | 0.79 | 32.81 | ||||||||||||||||||||||
533,524 | |||||||||||||||||||||||||
Summary of Stock Options Exercised | ' | ||||||||||||||||||||||||
The following table summarizes certain information relating to stock options exercised: | |||||||||||||||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Proceeds from stock options exercised | $ | 365 | $ | 864 | $ | 22 | |||||||||||||||||||
Tax benefit recognized from stock options exercised | 79 | 96 | 22 | ||||||||||||||||||||||
Intrinsic value of stock options exercised | 318 | 435 | 63 |
Retirement_Plans_Tables
Retirement Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Accumulated Benefit Obligation, Change in Benefit Obligation, Change in Plan Assets, Plans' Funded Status and Amount Included in Consolidated Balance Sheet | ' | ||||||||||||||||
The following tables provide information relating to the accumulated benefit obligation, change in benefit obligation, change in plan assets, the plans’ funded status and the amount included in the consolidated balance sheet for the qualified and non-qualified plans described above (collectively, the Plans): | |||||||||||||||||
December 31 | 2013 | 2012 | |||||||||||||||
Accumulated benefit obligation | $ | 139,483 | $ | 153,606 | |||||||||||||
Projected benefit obligation at beginning of year | $ | 153,958 | $ | 143,307 | |||||||||||||
Service cost | 65 | 59 | |||||||||||||||
Interest cost | 5,728 | 6,173 | |||||||||||||||
Actuarial (gain) loss | (13,486 | ) | 11,558 | ||||||||||||||
Benefits paid | (6,534 | ) | (7,139 | ) | |||||||||||||
Projected benefit obligation at end of year | $ | 139,731 | $ | 153,958 | |||||||||||||
Fair value of plan assets at beginning of year | $ | 113,416 | $ | 105,330 | |||||||||||||
Actual return on plan assets | 16,534 | 8,899 | |||||||||||||||
Corporation contribution | 16,321 | 6,326 | |||||||||||||||
Benefits paid | (6,534 | ) | (7,139 | ) | |||||||||||||
Fair value of plan assets at end of year | $ | 139,737 | $ | 113,416 | |||||||||||||
Funded status of plans | $ | 6 | $ | (40,542 | ) | ||||||||||||
Schedule of Actuarial Assumptions Used in Determination of Projected Benefit Obligation | ' | ||||||||||||||||
Actuarial assumptions used in the determination of the projected benefit obligation in the Plans are as follows: | |||||||||||||||||
Assumptions at December 31 | 2013 | 2012 | |||||||||||||||
Weighted average discount rate | 4.68 | % | 3.78 | % | |||||||||||||
Rates of average increase in compensation levels | 4 | % | 4 | % | |||||||||||||
Schedule of Net Periodic Pension Cost and Other Comprehensive Income | ' | ||||||||||||||||
The net periodic pension cost and other comprehensive income for the Plans included the following components: | |||||||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 65 | $ | 59 | $ | 58 | |||||||||||
Interest cost | 5,728 | 6,173 | 6,746 | ||||||||||||||
Expected return on plan assets | (9,081 | ) | (7,935 | ) | (7,647 | ) | |||||||||||
Transition amount amortization | (93 | ) | (93 | ) | (93 | ) | |||||||||||
Prior service credit amortization | 7 | 7 | 7 | ||||||||||||||
Actuarial loss amortization | 2,263 | 1,861 | 1,131 | ||||||||||||||
Net periodic pension cost (gain) | (1,111 | ) | 72 | 202 | |||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||||||||||||||||
Current year actuarial (gain) loss | (20,938 | ) | 10,594 | 19,097 | |||||||||||||
Amortization of actuarial loss | (2,263 | ) | (1,861 | ) | (1,131 | ) | |||||||||||
Amortization of prior service credit | (7 | ) | (7 | ) | (7 | ) | |||||||||||
Amortization of transition asset | 93 | 93 | 93 | ||||||||||||||
Total recognized in other comprehensive income | (23,115 | ) | 8,819 | 18,052 | |||||||||||||
Total recognized in net periodic pension cost (gain) and other comprehensive income | $ | (24,226 | ) | $ | 8,891 | $ | 18,254 | ||||||||||
Schedule of Actuarial Assumptions Used in Determination of Net Periodic Pension Cost | ' | ||||||||||||||||
The plans have an actuarial measurement date of December 31. Actuarial assumptions used in the determination of the net periodic pension cost in the Plans are as follows: | |||||||||||||||||
Assumptions for the Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||||||
Weighted average discount rate | 3.78 | % | 4.39 | % | 5.28 | % | |||||||||||
Rates of increase in compensation levels | 4 | % | 4 | % | 4 | % | |||||||||||
Expected long-term rate of return on assets | 7.25 | % | 7.5 | % | 7.5 | % | |||||||||||
Schedule of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Qualified and Non-Qualified Pension Plans | ' | ||||||||||||||||
As of December 31, 2013 and 2012, the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the qualified and non-qualified pension plans were as follows: | |||||||||||||||||
Qualified Pension Plans | Non-Qualified | ||||||||||||||||
Pension Plans | |||||||||||||||||
December 31 | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Projected benefit obligation | $ | 120,512 | $ | 133,116 | $ | 19,219 | $ | 20,842 | |||||||||
Accumulated benefit obligation | 120,512 | 133,116 | 18,971 | 20,490 | |||||||||||||
Fair value of plan assets | 139,737 | 113,416 | — | — | |||||||||||||
Schedule of Impact of Changes in Discount Rate, Return on Plan Assets and Compensation Levels on Pension Expense | ' | ||||||||||||||||
The impact of changes in the discount rate, expected long-term rate of return on plan assets and compensation levels would have had the following effects on 2013 pension expense: | |||||||||||||||||
Estimated | |||||||||||||||||
Increase in | |||||||||||||||||
Pension | |||||||||||||||||
Expense | |||||||||||||||||
0.5% decrease in the discount rate | $ | (35 | ) | ||||||||||||||
0.5% decrease in the expected long-term rate of return on plan assets | 626 | ||||||||||||||||
Schedule of Estimated Future Cash Flows | ' | ||||||||||||||||
The following table provides information regarding estimated future cash flows relating to the Plans at December 31, 2013: | |||||||||||||||||
Expected employer contributions: | 2014 | $ | 1,322 | ||||||||||||||
Expected benefit payments: | 2014 | 6,510 | |||||||||||||||
2015 | 6,862 | ||||||||||||||||
2016 | 7,246 | ||||||||||||||||
2017 | 9,127 | ||||||||||||||||
2018 | 8,113 | ||||||||||||||||
2019 – 2023 | 44,995 | ||||||||||||||||
Schedule of Asset Allocations for Pension Plans | ' | ||||||||||||||||
The following table presents asset allocations for the Corporation’s pension plans as of December 31, 2013 and 2012, and the target allocation for 2014, by asset category: | |||||||||||||||||
Target | Percentage of Plan Assets | ||||||||||||||||
Allocation | |||||||||||||||||
December 31 | 2014 | 2013 | 2012 | ||||||||||||||
Asset Category | |||||||||||||||||
Equity securities | 45 - 65 | % | 57 | % | 57 | % | |||||||||||
Debt securities | 30 - 50 | 40 | 40 | ||||||||||||||
Cash equivalents | 0 - 10 | 3 | 3 | ||||||||||||||
Schedule of Fair Values of Pension Plan Assets by Asset Category | ' | ||||||||||||||||
The fair values of the Corporation’s pension plan assets by asset category are as follows: | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
December 31, 2013 | |||||||||||||||||
Asset Class | |||||||||||||||||
Cash | $ | 4,090 | $ | — | — | $ | 4,090 | ||||||||||
Equity securities: | |||||||||||||||||
F.N.B. Corporation | 6,943 | — | — | 6,943 | |||||||||||||
Other large-cap U.S. financial services companies | 2,354 | — | — | 2,354 | |||||||||||||
Other large-cap U.S. companies | 34,345 | — | — | 34,345 | |||||||||||||
International companies | 555 | — | — | 555 | |||||||||||||
Mutual fund equity investments: | |||||||||||||||||
U.S. equity index funds: | |||||||||||||||||
U.S. large-cap equity index funds | 2,543 | — | — | 2,543 | |||||||||||||
U.S. small-cap equity index funds | 2,850 | — | — | 2,850 | |||||||||||||
U.S. mid-cap equity index funds | 3,911 | — | — | 3,911 | |||||||||||||
Non-U.S. equities growth fund | 10,783 | — | — | 10,783 | |||||||||||||
U.S. equity funds: | |||||||||||||||||
U.S. mid-cap | 7,919 | — | — | 7,919 | |||||||||||||
U.S. small-cap | 3,653 | — | — | 3,653 | |||||||||||||
Other | 4,469 | — | — | 4,469 | |||||||||||||
Fixed income securities: | |||||||||||||||||
U.S. government agencies | — | 44,653 | — | 44,653 | |||||||||||||
Fixed income mutual funds: | |||||||||||||||||
U.S. investment-grade fixed income securities | 10,196 | — | — | 10,196 | |||||||||||||
Non-U.S. fixed income securities | 473 | — | — | 473 | |||||||||||||
$ | 95,084 | $ | 44,653 | — | $ | 139,737 | |||||||||||
December 31, 2012 | |||||||||||||||||
Asset Class | |||||||||||||||||
Cash | $ | 3,587 | $ | — | — | $ | 3,587 | ||||||||||
Equity securities: | |||||||||||||||||
F.N.B. Corporation | 5,842 | — | — | 5,842 | |||||||||||||
Other large-cap U.S. financial services companies | 1,563 | — | — | 1,563 | |||||||||||||
Other large-cap U.S. companies | 27,709 | — | — | 27,709 | |||||||||||||
International companies | 624 | — | — | 624 | |||||||||||||
Mutual fund equity investments: | |||||||||||||||||
U.S. equity index funds: | |||||||||||||||||
U.S. large-cap equity index funds | 2,129 | — | — | 2,129 | |||||||||||||
U.S. small-cap equity index funds | 2,096 | — | — | 2,096 | |||||||||||||
U.S. mid-cap equity index funds | 2,928 | — | — | 2,928 | |||||||||||||
Non-U.S. equities growth fund | 8,972 | — | — | 8,972 | |||||||||||||
U.S. equity funds: | |||||||||||||||||
U.S. mid-cap | 5,893 | — | — | 5,893 | |||||||||||||
U.S. small-cap | 2,856 | — | — | 2,856 | |||||||||||||
Other | 4,280 | — | — | 4,280 | |||||||||||||
Fixed income securities: | |||||||||||||||||
U.S. government agencies | — | 36,030 | — | 36,030 | |||||||||||||
Fixed income mutual funds: | |||||||||||||||||
U.S. investment-grade fixed income securities | 8,404 | — | — | 8,404 | |||||||||||||
Non-U.S. fixed income securities | 503 | — | — | 503 | |||||||||||||
$ | 77,386 | $ | 36,030 | — | $ | 113,416 | |||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Summary of Income Tax Expense Allocated Based on Separate Tax Return Basis | ' | ||||||||||||
Income tax expense, allocated based on a separate tax return basis, consists of the following: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Current income taxes: | |||||||||||||
Federal taxes | $ | 33,614 | $ | 22,182 | $ | 18,721 | |||||||
State taxes | (116 | ) | 416 | 354 | |||||||||
33,498 | 22,598 | 19,075 | |||||||||||
Deferred income taxes: | |||||||||||||
Federal taxes | 11,258 | 21,175 | 12,929 | ||||||||||
State taxes | — | — | — | ||||||||||
11,258 | 21,175 | 12,929 | |||||||||||
$ | 44,756 | $ | 43,773 | $ | 32,004 | ||||||||
Summary of Reconciliation Between the Statutory Tax Rate and Actual Effective Tax Rate | ' | ||||||||||||
The following table provides a reconciliation between the statutory tax rate and the actual effective tax rate: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Effect of tax-free interest and dividend income | (4.3 | ) | (4.7 | ) | (5.9 | ) | |||||||
Tax credits and settlements | (2.4 | ) | (1.8 | ) | (1.9 | ) | |||||||
Life insurance | (0.4 | ) | — | — | |||||||||
Other items | (0.4 | ) | (0.1 | ) | (0.3 | ) | |||||||
Actual effective tax rate | 27.5 | % | 28.4 | % | 26.9 | % | |||||||
Summary of Deferred Tax Assets and Liabilities from Tax Effects of Temporary Differences | ' | ||||||||||||
The following table presents the tax effects of temporary differences that give rise to deferred tax assets and liabilities: | |||||||||||||
December 31 | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 39,292 | $ | 36,714 | |||||||||
Discount on purchased loans | 41,012 | 24,339 | |||||||||||
Net operating loss/tax credit carryforwards | 17,052 | 15,196 | |||||||||||
Deferred compensation | 8,208 | 7,429 | |||||||||||
Securities impairments | 20,371 | 19,999 | |||||||||||
Pension and other defined benefit plans | 2,190 | 16,335 | |||||||||||
Net unrealized securities losses | 13,295 | — | |||||||||||
Other | 3,567 | 4,268 | |||||||||||
Total | 144,987 | 124,280 | |||||||||||
Valuation allowance | (15,611 | ) | (16,329 | ) | |||||||||
Total deferred tax assets | 129,376 | 107,951 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Loan costs | (931 | ) | (287 | ) | |||||||||
Depreciation | (9,819 | ) | (9,794 | ) | |||||||||
Prepaid expenses | (1,261 | ) | (1,083 | ) | |||||||||
Amortizable intangibles | (11,346 | ) | (8,200 | ) | |||||||||
Lease financing | (6,290 | ) | (4,915 | ) | |||||||||
Debt discharge income deferral | (3,402 | ) | — | ||||||||||
Originated mortgage servicing rights | (2,721 | ) | — | ||||||||||
Other | (1,214 | ) | (1,089 | ) | |||||||||
Total deferred tax liabilities | (36,984 | ) | (25,368 | ) | |||||||||
Net deferred tax assets | $ | 92,392 | $ | 82,583 | |||||||||
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | |||||||||||
Balance at beginning of year | $ | 1,088 | $ | 1,376 | |||||||||
Additions based on tax positions related to current year | 74 | 87 | |||||||||||
Additions based on tax positions of prior year | — | — | |||||||||||
Reductions for tax positions of prior years | — | — | |||||||||||
Reductions due to expiration of statute of limitations | (502 | ) | (375 | ) | |||||||||
Balance at end of year | $ | 660 | $ | 1,088 | |||||||||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income, Net of Tax, by Component | ' | ||||||||||||||||||||
The following table presents changes in accumulated other comprehensive income, net of tax, by component: | |||||||||||||||||||||
Year Ended December 31, 2013 | Unrealized | Non-Credit | Unrealized | Unrecognized | Total | ||||||||||||||||
Net Gains | Related Loss | Losses on | Pension and | ||||||||||||||||||
(Losses) on | on Debt | Derivative | Postretirement | ||||||||||||||||||
Securities | Securities not | Instruments | Obligations | ||||||||||||||||||
Available | Expected to | ||||||||||||||||||||
for Sale | be Sold | ||||||||||||||||||||
Balance at beginning of period | $ | 9,269 | $ | (8,039 | ) | $ | (171 | ) | $ | (47,283 | ) | $ | (46,224 | ) | |||||||
Other comprehensive income (loss) before reclassifications | (20,643 | ) | 1,847 | (6,415 | ) | 15,011 | (10,200 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income | (500 | ) | — | — | — | (500 | ) | ||||||||||||||
Net current period other comprehensive income (loss) | (21,143 | ) | 1,847 | (6,415 | ) | 15,011 | (10,700 | ) | |||||||||||||
Balance at end of period | $ | (11,874 | ) | $ | (6,192 | ) | $ | (6,586 | ) | $ | (32,272 | ) | $ | (56,924 | ) | ||||||
Summary of Reclassifications Out of Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||
The following table presents a summary of the reclassifications out of accumulated other comprehensive income: | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Details About Accumulated Other | Amount | Affected Line Item | |||||||||||||||||||
Comprehensive Income Component | Reclassified from | in the Statement | |||||||||||||||||||
Other | where Net Income | ||||||||||||||||||||
Comprehensive | is Presented | ||||||||||||||||||||
Income | |||||||||||||||||||||
Unrealized net gains on securities available for sale (1) | $ | (767 | ) | Net securities gains | |||||||||||||||||
(267 | ) | Tax expense | |||||||||||||||||||
$ | (500 | ) | |||||||||||||||||||
-1 | For additional detail related to unrealized net gains on securities available for sale and related amounts reclassified from accumulated other comprehensive income see the “Securities” note in this Report. |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computation of Basic and Diluted Earnings Per Common Share | ' | ||||||||||||
The following tables set forth the computation of basic and diluted earnings per common share: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Net income available to common stockholders | $ | 117,804 | $ | 110,410 | $ | 87,047 | |||||||
Basic weighted average common shares outstanding | 146,186,982 | 139,135,272 | 124,145,924 | ||||||||||
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,622,522 | 1,504,893 | 866,154 | ||||||||||
Diluted weighted average common shares outstanding | 147,809,504 | 140,640,165 | 125,012,078 | ||||||||||
Basic earnings per common share | $ | 0.81 | $ | 0.79 | $ | 0.7 | |||||||
Diluted earnings per common share | $ | 0.8 | $ | 0.79 | $ | 0.7 | |||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Capital Ratios | ' | ||||||||||||||||||||||||
Following are the capital ratios as of December 31, 2013 and 2012 for the Corporation and FNBPA (dollars in thousands): | |||||||||||||||||||||||||
Actual | Well-Capitalized | Minimum Capital | |||||||||||||||||||||||
Requirements | Requirements | ||||||||||||||||||||||||
December 31, 2013 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
F.N.B. Corporation: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | $ | 1,258,312 | 12.5 | % | $ | 1,009,952 | 10 | % | $ | 807,962 | 8 | % | |||||||||||||
Tier 1 capital to risk-weighted assets | 1,117,956 | 11.1 | 605,971 | 6 | 403,981 | 4 | |||||||||||||||||||
Leverage ratio | 1,117,956 | 8.8 | 634,527 | 5 | 507,622 | 4 | |||||||||||||||||||
FNBPA: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | 1,144,510 | 11.5 | 995,524 | 10 | 796,419 | 8 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | 1,035,659 | 10.4 | 597,314 | 6 | 398,210 | 4 | |||||||||||||||||||
Leverage ratio | 1,035,659 | 8.3 | 623,921 | 5 | 499,137 | 4 | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
F.N.B. Corporation: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | $ | 1,068,704 | 12.2 | % | $ | 879,316 | 10 | % | $ | 703,453 | 8 | % | |||||||||||||
Tier 1 capital to risk-weighted assets | 934,443 | 10.6 | 527,589 | 6 | 351,726 | 4 | |||||||||||||||||||
Leverage ratio | 934,443 | 8.3 | 563,649 | 5 | 450,919 | 4 | |||||||||||||||||||
FNBPA: | |||||||||||||||||||||||||
Total capital to risk-weighted assets | 999,717 | 11.6 | 859,468 | 10 | 687,574 | 8 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | 895,177 | 10.4 | 515,681 | 6 | 343,787 | 4 | |||||||||||||||||||
Leverage ratio | 895,177 | 8.1 | 555,360 | 5 | 444,288 | 4 |
Cash_Flow_Information_Tables
Cash Flow Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Summary of Cash Flow Information | ' | ||||||||||||
Following is a summary of cash flow information: | |||||||||||||
Year Ended December 31 | 2013 | 2012 | 2011 | ||||||||||
Interest paid on deposits and other borrowings | $ | 46,337 | $ | 56,306 | $ | 75,178 | |||||||
Income taxes paid | 34,200 | 22,250 | 13,250 | ||||||||||
Transfers of loans to other real estate owned | 15,836 | 14,102 | 21,679 | ||||||||||
Transfers of other real estate owned to loans | 701 | 839 | 598 |
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Financial Information for Segments of Corporation | ' | ||||||||||||||||||||||||
The following tables provide financial information for these segments of the Corporation. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of the Corporation, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments which are necessary for purposes of reconciliation to the consolidated amounts. | |||||||||||||||||||||||||
Community | Wealth | Insurance | Consumer | Parent | Consolidated | ||||||||||||||||||||
Banking | Manage- | Finance | and | ||||||||||||||||||||||
ment | Other | ||||||||||||||||||||||||
At or for the Year Ended December 31, 2013 | |||||||||||||||||||||||||
Interest income | $ | 396,243 | $ | — | $ | 109 | $ | 37,956 | $ | 6,078 | $ | 440,386 | |||||||||||||
Interest expense | 32,178 | — | — | 3,378 | 8,788 | 44,344 | |||||||||||||||||||
Net interest income | 364,065 | — | 109 | 34,578 | (2,710 | ) | 396,042 | ||||||||||||||||||
Provision for loan losses | 23,502 | — | — | 6,834 | 754 | 31,090 | |||||||||||||||||||
Non-interest income | 97,156 | 28,717 | 13,175 | 2,794 | (6,064 | ) | 135,778 | ||||||||||||||||||
Non-interest expense | 271,657 | 25,067 | 11,448 | 19,052 | 2,539 | 329,763 | |||||||||||||||||||
Intangible amortization | 7,697 | 304 | 406 | — | — | 8,407 | |||||||||||||||||||
Income tax expense (benefit) | 43,966 | 1,248 | 519 | 4,320 | (5,297 | ) | 44,756 | ||||||||||||||||||
Net income (loss) | 114,399 | 2,098 | 911 | 7,166 | (6,770 | ) | 117,804 | ||||||||||||||||||
Total assets | 13,381,047 | 20,959 | 20,214 | 188,259 | (47,074 | ) | 13,563,405 | ||||||||||||||||||
Total intangibles | 788,513 | 11,008 | 10,526 | 1,809 | — | 811,856 | |||||||||||||||||||
At or for the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Interest income | $ | 390,680 | $ | 4 | $ | 113 | $ | 35,279 | $ | 5,830 | $ | 431,906 | |||||||||||||
Interest expense | 45,604 | — | — | 3,584 | 9,867 | 59,055 | |||||||||||||||||||
Net interest income | 345,076 | 4 | 113 | 31,695 | (4,037 | ) | 372,851 | ||||||||||||||||||
Provision for loan losses | 24,606 | — | — | 6,115 | 581 | 31,302 | |||||||||||||||||||
Non-interest income | 96,853 | 24,152 | 13,035 | 2,343 | (5,131 | ) | 131,252 | ||||||||||||||||||
Non-interest expense | 258,063 | 20,141 | 11,503 | 18,410 | 1,577 | 309,694 | |||||||||||||||||||
Intangible amortization | 8,184 | 320 | 420 | — | — | 8,924 | |||||||||||||||||||
Income tax expense (benefit) | 42,991 | 1,358 | 438 | 3,615 | (4,629 | ) | 43,773 | ||||||||||||||||||
Net income (loss) | 108,085 | 2,337 | 787 | 5,898 | (6,697 | ) | 110,410 | ||||||||||||||||||
Total assets | 11,845,122 | 19,610 | 18,675 | 178,149 | (37,580 | ) | 12,023,976 | ||||||||||||||||||
Total intangibles | 689,354 | 11,312 | 10,931 | 1,809 | — | 713,406 | |||||||||||||||||||
At or for the Year Ended December 31, 2011 | |||||||||||||||||||||||||
Interest income | $ | 350,801 | $ | 11 | $ | 124 | $ | 34,168 | $ | 6,021 | $ | 391,125 | |||||||||||||
Interest expense | 60,132 | — | — | 4,281 | 10,204 | 74,617 | |||||||||||||||||||
Net interest income | 290,669 | 11 | 124 | 29,887 | (4,183 | ) | 316,508 | ||||||||||||||||||
Provision for loan losses | 26,957 | — | — | 6,152 | 532 | 33,641 | |||||||||||||||||||
Non-interest income | 88,172 | 23,238 | 12,325 | 2,132 | (6,137 | ) | 119,730 | ||||||||||||||||||
Non-interest expense | 227,696 | 18,518 | 11,568 | 17,210 | 1,514 | 276,506 | |||||||||||||||||||
Intangible amortization | 6,279 | 335 | 426 | — | — | 7,040 | |||||||||||||||||||
Income tax expense (benefit) | 31,869 | 1,587 | 169 | 3,274 | (4,895 | ) | 32,004 | ||||||||||||||||||
Net income (loss) | 86,040 | 2,809 | 286 | 5,383 | (7,471 | ) | 87,047 | ||||||||||||||||||
Total assets | 9,583,439 | 19,579 | 17,301 | 171,350 | (5,186 | ) | 9,786,483 | ||||||||||||||||||
Total intangibles | 574,622 | 11,632 | 11,352 | 1,809 | — | 599,415 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Assets measured at fair value | |||||||||||||||||||||
Available for sale debt securities | |||||||||||||||||||||
U.S. government-sponsored entities | $ | — | $ | 330,985 | $ | — | $ | 330,985 | |||||||||||||
Residential mortgage-backed securities | |||||||||||||||||||||
Agency mortgage-backed securities | — | 250,881 | — | 250,881 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 491,199 | — | 491,199 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 18 | 1,744 | 1,762 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 17,002 | — | 17,002 | |||||||||||||||||
Collateralized debt obligations | — | — | 31,595 | 31,595 | |||||||||||||||||
Other debt securities | — | 16,100 | — | 16,100 | |||||||||||||||||
— | 1,106,185 | 33,339 | 1,139,524 | ||||||||||||||||||
Available for sale equity securities | |||||||||||||||||||||
Financial services industry | 584 | 1,067 | 410 | 2,061 | |||||||||||||||||
Insurance services industry | 65 | — | — | 65 | |||||||||||||||||
649 | 1,067 | 410 | 2,126 | ||||||||||||||||||
649 | 1,107,252 | 33,749 | 1,141,650 | ||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | 33,317 | — | 33,317 | |||||||||||||||||
Not for trading | — | — | — | — | |||||||||||||||||
— | 33,317 | — | 33,317 | ||||||||||||||||||
$ | 649 | $ | 1,140,569 | $ | 33,749 | $ | 1,174,967 | ||||||||||||||
Liabilities measured at fair value | |||||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | $ | 33,236 | — | $ | 33,236 | |||||||||||||||
Not for trading | — | 10,133 | — | 10,133 | |||||||||||||||||
— | $ | 43,369 | — | $ | 43,369 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Assets measured at fair value | |||||||||||||||||||||
Available for sale debt securities | |||||||||||||||||||||
U.S. government-sponsored entities | $ | — | $ | 354,457 | $ | — | $ | 354,457 | |||||||||||||
Residential mortgage-backed securities | |||||||||||||||||||||
Agency mortgage-backed securities | — | 275,150 | — | 275,150 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 469,547 | — | 469,547 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 24 | 2,705 | 2,729 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 24,824 | — | 24,824 | |||||||||||||||||
Collateralized debt obligations | — | — | 22,456 | 22,456 | |||||||||||||||||
Other debt securities | — | 14,621 | 6,892 | 21,513 | |||||||||||||||||
— | 1,138,623 | 32,053 | 1,170,676 | ||||||||||||||||||
Available for sale equity securities | |||||||||||||||||||||
Financial services industry | 351 | 1,099 | 512 | 1,962 | |||||||||||||||||
Insurance services industry | 45 | — | — | 45 | |||||||||||||||||
396 | 1,099 | 512 | 2,007 | ||||||||||||||||||
396 | 1,139,722 | 32,565 | 1,172,683 | ||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | 58,008 | — | 58,008 | |||||||||||||||||
Not for trading | — | — | — | — | |||||||||||||||||
— | 58,008 | — | 58,008 | ||||||||||||||||||
$ | 396 | $ | 1,197,730 | $ | 32,565 | $ | 1,230,691 | ||||||||||||||
Liabilities measured at fair value | |||||||||||||||||||||
Derivative financial instruments | |||||||||||||||||||||
Trading | — | $ | 58,150 | — | $ | 58,150 | |||||||||||||||
Not for trading | — | — | — | — | |||||||||||||||||
— | $ | 58,150 | — | $ | 58,150 | ||||||||||||||||
Additional Information about Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
The following table presents additional information about assets measured at fair value on a recurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: | |||||||||||||||||||||
Pooled Trust | Other | Equity | Residential | Total | |||||||||||||||||
Preferred | Debt | Securities | Non-Agency | ||||||||||||||||||
Collateralized | Securities | Collateralized | |||||||||||||||||||
Debt | Mortgage | ||||||||||||||||||||
Obligations | Obligations | ||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Balance at beginning of period | $ | 22,456 | $ | 6,892 | $ | 512 | $ | 2,705 | $ | 32,565 | |||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | — | 78 | — | — | 78 | ||||||||||||||||
Included in other comprehensive income | 6,701 | 21 | 18 | (35 | ) | 6,705 | |||||||||||||||
Accretion included in earnings | 3,160 | 4 | — | 12 | 3,176 | ||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | — | ||||||||||||||||
Issuances | 38 | — | — | — | 38 | ||||||||||||||||
Sales/redemptions | — | (1,033 | ) | — | — | (1,033 | ) | ||||||||||||||
Settlements | (760 | ) | — | — | (938 | ) | (1,698 | ) | |||||||||||||
Transfers from Level 3 | — | (5,962 | ) | (120 | ) | — | (6,082 | ) | |||||||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||||
Balance at end of period | $ | 31,595 | $ | — | $ | 410 | $ | 1,744 | $ | 33,749 | |||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Balance at beginning of period | $ | 5,998 | $ | 5,197 | $ | 408 | $ | — | $ | 11,603 | |||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | — | — | — | — | — | ||||||||||||||||
Included in other comprehensive income | 917 | 732 | 104 | 49 | 1,802 | ||||||||||||||||
Accretion included in earnings | 2,515 | 9 | — | 20 | 2,544 | ||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | 16,569 | 954 | — | 4,230 | 21,753 | ||||||||||||||||
Issuances | 46 | — | — | — | 46 | ||||||||||||||||
Sales/redemptions | (2,542 | ) | — | — | — | (2,542 | ) | ||||||||||||||
Settlements | (1,047 | ) | — | — | (1,594 | ) | (2,641 | ) | |||||||||||||
Transfers from Level 3 | — | — | — | — | — | ||||||||||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||||
Balance at end of period | $ | 22,456 | $ | 6,892 | $ | 512 | $ | 2,705 | $ | 32,565 | |||||||||||
Additional Information about Assets Measured at Fair Value on Non-Recurring Basis | ' | ||||||||||||||||||||
The following table provides the hierarchy level and the fair value of the related assets or portfolios. These amounts represent the fair values at the time the non-recurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon. | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Impaired loans | — | $ | 3,235 | $ | 59 | $ | 3,294 | ||||||||||||||
Other real estate owned | — | 4,485 | 14,957 | 19,442 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Impaired loans | — | $ | 14,325 | $ | 3,171 | $ | 17,496 | ||||||||||||||
Other real estate owned | — | 5,771 | 13,540 | 19,311 | |||||||||||||||||
Investment security, held-to-maturity: | |||||||||||||||||||||
Non-agency CMO | — | — | 3,636 | 3,636 | |||||||||||||||||
Fair Values of Corporation's Financial Instruments | ' | ||||||||||||||||||||
The fair values of the Corporation’s financial instruments are as follows: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 213,981 | $ | 213,981 | $ | 213,981 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,141,650 | 1,141,650 | 649 | 1,107,252 | 33,749 | ||||||||||||||||
Securities held to maturity | 1,199,169 | 1,189,563 | — | 1,182,671 | 6,892 | ||||||||||||||||
Net loans, including loans | 9,402,448 | 9,243,780 | — | — | 9,243,780 | ||||||||||||||||
held for sale | |||||||||||||||||||||
Bank owned life insurance | 289,402 | 292,694 | 292,694 | — | — | ||||||||||||||||
Derivative assets | 33,317 | 33,317 | — | 33,317 | — | ||||||||||||||||
Accrued interest receivable | 35,520 | 35,520 | 35,520 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 10,198,232 | 10,208,268 | 7,592,159 | 2,616,109 | — | ||||||||||||||||
Short-term borrowings | 1,241,239 | 1,241,239 | 1,241,239 | — | — | ||||||||||||||||
Long-term debt | 143,928 | 145,995 | — | — | 145,995 | ||||||||||||||||
Junior subordinated debt | 75,205 | 70,442 | — | — | 70,442 | ||||||||||||||||
Derivative liabilities | 43,369 | 43,369 | — | 43,369 | — | ||||||||||||||||
Accrued interest payable | 7,061 | 7,061 | 7,061 | — | — | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 239,044 | $ | 239,044 | $ | 239,044 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,172,683 | 1,172,683 | 396 | 1,139,722 | 32,565 | ||||||||||||||||
Securities held to maturity | 1,106,563 | 1,143,213 | — | 1,128,524 | 14,689 | ||||||||||||||||
Net loans, including loans | 8,061,096 | 7,996,554 | — | — | 7,966,554 | ||||||||||||||||
held for sale | |||||||||||||||||||||
Bank owned life insurance | 246,088 | 257,060 | 257,060 | — | — | ||||||||||||||||
Derivative assets | 58,008 | 58,008 | — | 58,008 | — | ||||||||||||||||
Accrued interest receivable | 30,210 | 30,210 | 30,210 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 9,082,174 | 9,117,757 | 6,546,316 | 2,571,441 | — | ||||||||||||||||
Short-term borrowings | 1,083,138 | 1,083,138 | 1,083,138 | — | — | ||||||||||||||||
Long-term debt | 89,425 | 92,329 | — | — | 92,329 | ||||||||||||||||
Junior subordinated debt | 204,019 | 172,246 | — | — | 172,246 | ||||||||||||||||
Derivative liabilities | 58,150 | 58,150 | — | 58,150 | — | ||||||||||||||||
Accrued interest payable | 9,054 | 9,054 | 9,054 | — | — |
Parent_Company_Financial_State1
Parent Company Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Consolidated Balance Sheet of Parent Company Only | ' | ||||||||||||
Balance Sheets | 2013 | 2012 | |||||||||||
December 31 | |||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 145,910 | $ | 114,654 | |||||||||
Securities available for sale | 2,061 | 1,962 | |||||||||||
Other assets | 18,387 | 15,856 | |||||||||||
Investment in bank subsidiary | 1,759,551 | 1,554,543 | |||||||||||
Investments in and advances to non-bank subsidiaries | 254,124 | 253,807 | |||||||||||
Total Assets | $ | 2,180,033 | $ | 1,940,822 | |||||||||
Liabilities | |||||||||||||
Other liabilities | $ | 25,225 | $ | 28,381 | |||||||||
Advances from affiliates | 294,245 | 295,100 | |||||||||||
Junior subordinated debt | 76,290 | 205,156 | |||||||||||
Subordinated notes: | |||||||||||||
Short-term | 8,439 | 8,355 | |||||||||||
Long-term | 1,451 | 1,761 | |||||||||||
Total Liabilities | 405,650 | 538,753 | |||||||||||
Stockholders’ Equity | 1,774,383 | 1,402,069 | |||||||||||
Total Liabilities and Stockholders’ Equity | $ | 2,180,033 | $ | 1,940,822 | |||||||||
Statements of Income of Parent Company Only | ' | ||||||||||||
Statements of Income | 2013 | 2012 | 2011 | ||||||||||
Year Ended December 31 | |||||||||||||
Income | |||||||||||||
Dividend income from subsidiaries: | |||||||||||||
Bank | $ | 77,153 | $ | 74,412 | $ | 65,130 | |||||||
Non-bank | 5,950 | 6,400 | 8,638 | ||||||||||
83,103 | 80,812 | 73,768 | |||||||||||
Interest income | 5,277 | 5,802 | 6,172 | ||||||||||
Other income | 1,874 | 1,442 | 71 | ||||||||||
Total Income | 90,254 | 88,056 | 80,011 | ||||||||||
Expenses | |||||||||||||
Interest expense | 14,325 | 15,646 | 16,744 | ||||||||||
Other expenses | 8,196 | 7,640 | 6,197 | ||||||||||
Total Expenses | 22,521 | 23,286 | 22,941 | ||||||||||
Income Before Taxes and Equity in Undistributed Income of Subsidiaries | 67,733 | 64,770 | 57,070 | ||||||||||
Income tax benefit | 6,267 | 6,151 | 6,296 | ||||||||||
74,000 | 70,921 | 63,366 | |||||||||||
Equity in undistributed income (loss) of subsidiaries: | |||||||||||||
Bank | 42,094 | 38,401 | 25,508 | ||||||||||
Non-bank | 1,710 | 1,088 | (1,827 | ) | |||||||||
Net Income | $ | 117,804 | $ | 110,410 | $ | 87,047 | |||||||
Statements of Cash Flows of Parent Company Only | ' | ||||||||||||
Statements of Cash Flows | 2013 | 2012 | 2011 | ||||||||||
Year Ended December 31 | |||||||||||||
Operating Activities | |||||||||||||
Net income | $ | 117,804 | $ | 110,410 | $ | 87,047 | |||||||
Adjustments to reconcile net income to net cash flows from operating activities: | |||||||||||||
Undistributed earnings from subsidiaries | (43,804 | ) | (39,489 | ) | (23,681 | ) | |||||||
Other, net | (6,218 | ) | 109 | 8,666 | |||||||||
Net cash flows provided by operating activities | 67,782 | 71,030 | 72,032 | ||||||||||
Investing Activities | |||||||||||||
Proceeds from sale of securities available for sale | 128 | 201 | 389 | ||||||||||
(Increase) decrease in property, plant and equipment | — | 4,193 | (243 | ) | |||||||||
Net decrease (increase) in advances to subsidiaries | 1,080 | (1,349 | ) | (7,551 | ) | ||||||||
Net increase in investment in subsidiaries | (1,688 | ) | (79,450 | ) | (16,611 | ) | |||||||
Net cash flows used in investing activities | (480 | ) | (76,405 | ) | (24,016 | ) | |||||||
Financing Activities | |||||||||||||
Net (decrease) increase in advance from affiliate | (854 | ) | 12,944 | 16,900 | |||||||||
Net increase (decrease) in short-term borrowings | 84 | (2 | ) | (316 | ) | ||||||||
Decrease in long-term debt | (808 | ) | (1,277 | ) | (1,206 | ) | |||||||
Increase in long-term debt | 499 | 671 | 798 | ||||||||||
Decrease in junior subordinated debt | (134,021 | ) | — | — | |||||||||
Net proceeds from issuance of preferred stock | 106,882 | — | — | ||||||||||
Net proceeds from issuance of common stock | 62,092 | 8,895 | 71,053 | ||||||||||
Tax benefit (expense) of stock-based compensation | 1,326 | 386 | (61 | ) | |||||||||
Cash dividends paid | (71,246 | ) | (67,646 | ) | (60,686 | ) | |||||||
Net cash flows (used in) provided by financing activities | (36,046 | ) | (46,029 | ) | 26,482 | ||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 31,256 | (51,404 | ) | 74,498 | |||||||||
Cash and cash equivalents at beginning of year | 114,654 | 166,058 | 91,560 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 145,910 | $ | 114,654 | $ | 166,058 | |||||||
Cash paid during the year for: | |||||||||||||
Interest | $ | 14,345 | $ | 15,690 | $ | 16,768 |
Nature_Of_Operations_Additiona
Nature Of Operations (Additional Information) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Office | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Number of consumer finance offices | 72 |
Number of banking offices | 266 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Summary Of Significant Accounting Policies [Line Items] | ' |
Number of days past due for loan to be in default | '90 days |
Core deposit intangibles amortization period, years | '10 years |
Largest amount recognized in the financial statement of tax benefit threshold, minimum | 50.00% |
Installment Loans [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Number of days placed on non- accrual | '120 days |
Residential Mortgages [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Number of days placed on non- accrual | '180 days |
Commercial Loans [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Number of days placed on non- accrual | '90 days |
Minimum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Useful life of the asset, years | '3 years |
Estimated useful life of intangibles, years | '10 years |
Maximum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Useful life of the asset, years | '40 years |
Estimated useful life of intangibles, years | '12 years |
Mergers_and_Acquisitions_Addit
Mergers and Acquisitions - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 02, 2012 | Dec. 31, 2013 | Feb. 15, 2014 | Oct. 12, 2013 | Apr. 06, 2013 |
In Thousands, except Share data, unless otherwise specified | Parkvale Financial Corporation [Member] | BCSB Bancorp, Inc. (BCSB) [Member] | BCSB Bancorp, Inc. (BCSB) [Member] | PVF Capital Corp (PVF) [Member] | Annapolis Bancorp, Inc. [Member] | |||
Subsequent Event [Member] | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Assets acquired as a result of merger | ' | ' | ' | $1,743,885 | $605,901 | ' | $738,486 | $430,217 |
Loans acquired as a result of merger | ' | ' | ' | 919,480 | 326,258 | ' | 512,566 | 256,199 |
Deposits acquired as a result of merger | ' | ' | ' | 1,525,253 | 531,563 | ' | 627,046 | 349,370 |
Value of acquisition | ' | ' | ' | 140,900 | ' | 81,205 | 109,856 | 56,300 |
Common shares issued | ' | ' | ' | 12,159,312 | ' | 6,730,597 | 8,893,598 | 4,641,412 |
Common shares acquired | ' | ' | ' | 5,582,846 | ' | 3,235,961 | 26,119,398 | 4,060,802 |
Goodwill recorded as a result of merger | 764,248 | 675,555 | 568,462 | 106,602 | ' | ' | 51,284 | 37,410 |
Core deposit intangibles recorded as result of the acquisition | ' | ' | ' | 16,033 | ' | ' | 6,867 | 3,775 |
Contingent cash payment due to collection of loan | ' | ' | ' | ' | ' | ' | ' | $609 |
Contingent cash payment due to collection of loan, per share | ' | ' | ' | ' | ' | ' | ' | $0.15 |
Warrants converted to purchase common stock | ' | ' | ' | 819,640 | ' | ' | ' | 342,564 |
Warrant expiration date | ' | ' | ' | 23-Dec-18 | ' | ' | ' | 30-Jan-19 |
Warrant exercise price | ' | ' | ' | 5.81 | ' | ' | ' | 3.57 |
Mergers_and_Acquisitions_Amoun
Mergers and Acquisitions - Amounts Recorded on Consolidated Balance Sheet in Conjunction with Acquisition (Detail) (USD $) | 0 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 02, 2012 | Apr. 06, 2013 | Oct. 12, 2013 |
Parkvale Financial Corporation [Member] | Annapolis Bancorp, Inc. [Member] | PVF Capital Corp (PVF) [Member] | |
Business Acquisition [Line Items] | ' | ' | ' |
Common stock issued, net of offering costs | $136,441 | $54,065 | $109,856 |
Warrant assumed | 4,459 | 2,235 | ' |
Total consideration paid | 140,900 | 56,300 | 109,856 |
Cash and cash equivalents | 203,538 | 41,986 | 99,650 |
Securities | 486,186 | 99,309 | 47,258 |
Loans | 919,480 | 256,199 | 512,566 |
Other intangible assets | 16,033 | 3,775 | 15,288 |
Accrued income and other assets | 118,648 | 28,948 | 63,724 |
Total identifiable assets acquired | 1,743,885 | 430,217 | 738,486 |
Deposits | 1,525,253 | 349,370 | 627,046 |
Borrowings | 171,606 | 58,204 | 37,241 |
Accrued expenses and other liabilities | 12,728 | 3,753 | 15,627 |
Total liabilities assumed | 1,709,587 | 411,327 | 679,914 |
Fair value of net identifiable assets acquired | 34,298 | 18,890 | 58,572 |
Goodwill recognized | $106,602 | $37,410 | $51,284 |
Mergers_and_Acquisitions_Pro_F
Mergers and Acquisitions - Pro Forma Information Estimated (Detail) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2011 |
Business Acquisition Pro Forma Information [Abstract] | ' |
Revenue (net interest income and non-interest income) | $486,818 |
Net income | 96,299 |
Net income available to common stockholders | $94,711 |
Earnings per common share - basic | $0.69 |
Earnings per common share - diluted | $0.69 |
Securities_Schedule_of_Amortiz
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | $1,169,482 | $1,170,439 | $645,658 |
Securities Available For Sale, Gross Unrealized Gains | 11,463 | 16,858 | 9,829 |
Securities Available For Sale, Gross Unrealized Losses | -39,295 | -14,614 | -14,916 |
Assets measured at fair value, Available for sale securities | 1,141,650 | 1,172,683 | 640,571 |
U.S. Government-Sponsored Entities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 336,763 | 352,910 | 231,187 |
Securities Available For Sale, Gross Unrealized Gains | 126 | 1,676 | 642 |
Securities Available For Sale, Gross Unrealized Losses | -5,904 | -129 | ' |
Assets measured at fair value, Available for sale securities | 330,985 | 354,457 | 231,829 |
Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 247,880 | 267,575 | 166,758 |
Securities Available For Sale, Gross Unrealized Gains | 4,304 | 7,575 | 4,853 |
Securities Available For Sale, Gross Unrealized Losses | -1,303 | ' | ' |
Assets measured at fair value, Available for sale securities | 250,881 | 275,150 | 171,611 |
Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 511,098 | 465,574 | 181,493 |
Securities Available For Sale, Gross Unrealized Gains | 895 | 4,201 | 2,236 |
Securities Available For Sale, Gross Unrealized Losses | -20,794 | -228 | ' |
Assets measured at fair value, Available for sale securities | 491,199 | 469,547 | 183,729 |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 1,747 | 2,679 | 31 |
Securities Available For Sale, Gross Unrealized Gains | 15 | 50 | ' |
Securities Available For Sale, Gross Unrealized Losses | ' | ' | -1 |
Assets measured at fair value, Available for sale securities | 1,762 | 2,729 | 30 |
States of the U.S. and Political Subdivisions [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 16,842 | 23,592 | 38,509 |
Securities Available For Sale, Gross Unrealized Gains | 410 | 1,232 | 1,841 |
Securities Available For Sale, Gross Unrealized Losses | -250 | ' | ' |
Assets measured at fair value, Available for sale securities | 17,002 | 24,824 | 40,350 |
Collateralized Debt Obligations [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 37,203 | 34,765 | 19,224 |
Securities Available For Sale, Gross Unrealized Gains | 4,507 | 967 | ' |
Securities Available For Sale, Gross Unrealized Losses | -10,115 | -13,276 | -13,226 |
Assets measured at fair value, Available for sale securities | 31,595 | 22,456 | 5,998 |
Other Debt Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 16,505 | 21,790 | 6,863 |
Securities Available For Sale, Gross Unrealized Gains | 524 | 695 | ' |
Securities Available For Sale, Gross Unrealized Losses | -929 | -972 | -1,666 |
Assets measured at fair value, Available for sale securities | 16,100 | 21,513 | 5,197 |
Debt securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 1,168,038 | 1,168,885 | 644,065 |
Securities Available For Sale, Gross Unrealized Gains | 10,781 | 16,396 | 9,572 |
Securities Available For Sale, Gross Unrealized Losses | -39,295 | -14,605 | -14,893 |
Assets measured at fair value, Available for sale securities | 1,139,524 | 1,170,676 | 638,744 |
Equity securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities Available For Sale, Amortized Cost | 1,444 | 1,554 | 1,593 |
Securities Available For Sale, Gross Unrealized Gains | 682 | 462 | 257 |
Securities Available For Sale, Gross Unrealized Losses | ' | -9 | -23 |
Assets measured at fair value, Available for sale securities | $2,126 | $2,007 | $1,827 |
Securities_Schedule_of_Amortiz1
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | $1,199,169 | $1,106,563 | $917,212 |
Securities Held To Maturity, Gross Unrealized Gains | 15,484 | 36,785 | 36,700 |
Securities Held To Maturity, Gross Unrealized Losses | -25,090 | -135 | -1,879 |
Securities Held To Maturity, Fair Value | 1,189,563 | 1,143,213 | 952,033 |
U.S. Treasury [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | 503 | 503 | 504 |
Securities Held To Maturity, Gross Unrealized Gains | 99 | 188 | 185 |
Securities Held To Maturity, Gross Unrealized Losses | ' | ' | ' |
Securities Held To Maturity, Fair Value | 602 | 691 | 689 |
U.S. Government-Sponsored Entities [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | 43,322 | 28,731 | 4,019 |
Securities Held To Maturity, Gross Unrealized Gains | 180 | 280 | 175 |
Securities Held To Maturity, Gross Unrealized Losses | -1,151 | -99 | ' |
Securities Held To Maturity, Fair Value | 42,351 | 28,912 | 4,194 |
Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | 628,681 | 780,022 | 683,100 |
Securities Held To Maturity, Gross Unrealized Gains | 12,281 | 28,783 | 28,722 |
Securities Held To Maturity, Gross Unrealized Losses | -6,032 | -1 | ' |
Securities Held To Maturity, Fair Value | 634,930 | 808,804 | 711,822 |
Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | 385,408 | 133,976 | 54,319 |
Securities Held To Maturity, Gross Unrealized Gains | 764 | 1,266 | 573 |
Securities Held To Maturity, Gross Unrealized Losses | -15,844 | ' | -11 |
Securities Held To Maturity, Fair Value | 370,328 | 135,242 | 54,881 |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | 6,852 | 14,082 | 24,348 |
Securities Held To Maturity, Gross Unrealized Gains | 44 | 130 | 143 |
Securities Held To Maturity, Gross Unrealized Losses | -4 | ' | -1,373 |
Securities Held To Maturity, Fair Value | 6,892 | 14,212 | 23,118 |
Commercial Mortgage-Backed Securities [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | 2,241 | 1,024 | ' |
Securities Held To Maturity, Gross Unrealized Gains | 124 | 39 | ' |
Securities Held To Maturity, Gross Unrealized Losses | -37 | ' | ' |
Securities Held To Maturity, Fair Value | 2,328 | 1,063 | ' |
States of the U.S. and Political Subdivisions [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | 132,162 | 147,713 | 147,748 |
Securities Held To Maturity, Gross Unrealized Gains | 1,992 | 6,099 | 6,877 |
Securities Held To Maturity, Gross Unrealized Losses | -2,022 | ' | ' |
Securities Held To Maturity, Fair Value | 132,132 | 153,812 | 154,625 |
Collateralized Debt Obligations [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | ' | 512 | 1,592 |
Securities Held To Maturity, Gross Unrealized Gains | ' | ' | ' |
Securities Held To Maturity, Gross Unrealized Losses | ' | -35 | -314 |
Securities Held To Maturity, Fair Value | ' | 477 | 1,278 |
Other Debt Securities [Member] | ' | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' | ' |
Securities Held To Maturity, Amortized Cost | ' | ' | 1,582 |
Securities Held To Maturity, Gross Unrealized Gains | ' | ' | 25 |
Securities Held To Maturity, Gross Unrealized Losses | ' | ' | -181 |
Securities Held To Maturity, Fair Value | ' | ' | $1,426 |
Securities_Gross_Gains_and_Gro
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (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] | ' | ' | ' |
Gross gains | $1,200 | $1,154 | $3,848 |
Gross losses | -392 | -849 | -196 |
Total | $808 | $305 | $3,652 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Security | |||
Schedule Of Securities [Line Items] | ' | ' | ' |
Gross gains relating to sale of securities | ' | ' | $3,415 |
Total securities sold | 22,047 | 87,101 | 101,973 |
Securities pledged to secure public deposits, trust deposits and for other purposes, carrying value | 909,548 | 725,450 | ' |
Securities pledged as collateral for short-term borrowings, carrying value | 860,279 | 795,812 | ' |
Recover rate of banks | 10.00% | ' | ' |
Recover rate of insurance companies | 15.00% | ' | ' |
Number of pooled issue securities | 23 | ' | ' |
Number of single-issuer securities | 4 | ' | ' |
Estimated fair value of pooled trust preferred securities | 31,595 | ' | ' |
Estimated fair value of single-issue trust preferred securities | 5,950 | ' | ' |
Accretion income recognized by Corporation | 3,338 | 2,831 | ' |
Number of current pooled trust preferred securities | 4 | ' | ' |
Remaining non-accrual pooled trust preferred securities | 2 | ' | ' |
Accruing pooled trust preferred securities | 3 | ' | ' |
Number of pooled securities accreting income | 18 | ' | ' |
Additional accretion income recognized | ' | 34 | ' |
Impairment losses on securities | 27 | 212 | ' |
Municipal bond portfolio, value | 149,164 | ' | ' |
Percent of municipal bond portfolio rated A or better | 99.20% | ' | ' |
Percent of municipal bond portfolio, general obligation bonds | 98.90% | ' | ' |
Percent of municipal bonds from Pennsylvania | 79.00% | ' | ' |
Average holding size of municipal bond | 1,001 | ' | ' |
Percent of portfolio with credit support | 67.00% | ' | ' |
Preferred Trust Securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of pooled trust preferred securities sold | ' | 2 | ' |
U.S. Government Agency Security [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Total securities sold | ' | ' | 3,940 |
Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Total securities sold | ' | ' | $83,736 |
Senior Tranches [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of single-issuer securities | 2 | ' | ' |
Mezzanine Tranches [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of pooled issue securities | 21 | ' | ' |
Minimum [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Deferral rates after the deferral period ends | 10.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Deferral rates after the deferral period ends | 90.00% | ' | ' |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Schedule Of Securities [Line Items] | ' | ' | ' |
Available for Sale, Due in one year or less, Amortized Cost | ' | ' | ' |
Available for Sale, Due from one to five years, Amortized Cost | 281,854 | ' | ' |
Available for Sale, Due from five to ten years, Amortized Cost | 79,155 | ' | ' |
Available for Sale, Due after ten years, Amortized Cost | 46,304 | ' | ' |
Available for Sale, with contractual maturities, Amortized Cost | 407,313 | ' | ' |
Total securities available for sale, Amortized Cost | 1,169,482 | 1,170,439 | 645,658 |
Available for Sale, Due in one year or less, Fair Value | ' | ' | ' |
Available for Sale, Due from one to five years, Fair Value | 278,833 | ' | ' |
Available for Sale, Due from five to ten years, Fair Value | 77,071 | ' | ' |
Available for Sale, Due after ten years, Fair Value | 39,778 | ' | ' |
Available for Sale, with contractual maturities, Fair Value | 395,682 | ' | ' |
Total available for sale Securities, Fair Value | 1,141,650 | 1,172,683 | 640,571 |
Held to Maturity, Due in one year or less, Amortized Cost | 3,376 | ' | ' |
Held to Maturity, Due from one to five years, Amortized Cost | 47,666 | ' | ' |
Held to Maturity, Due from five to ten years, Amortized Cost | 51,161 | ' | ' |
Held to Maturity, Due after ten years, Amortized Cost | 73,784 | ' | ' |
Securities Held To Maturity, with contractual maturities, Amortized Cost | 175,987 | ' | ' |
Held to Maturity, with contractual maturities, Amortized Cost | 1,199,169 | 1,106,563 | 917,212 |
Held to Maturity, Due in one year or less, Fair Value | 3,421 | ' | ' |
Held to Maturity, Due from one to five years, Fair Value | 46,735 | ' | ' |
Held to Maturity, Due from five to ten years, Fair Value | 51,798 | ' | ' |
Held to Maturity, Due after ten years, Fair Value | 73,131 | ' | ' |
Securities Held To Maturity, with contractual maturities, Fair Value | 175,085 | ' | ' |
Held to Maturity, with contractual maturities, Fair Value | 1,189,563 | 1,143,213 | 952,033 |
Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Total securities available for sale, Amortized Cost | 247,880 | 267,575 | 166,758 |
Total available for sale Securities, Fair Value | 250,881 | 275,150 | 171,611 |
Held to Maturity, with contractual maturities, Amortized Cost | 628,681 | 780,022 | 683,100 |
Held to Maturity, with contractual maturities, Fair Value | 634,930 | 808,804 | 711,822 |
Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Total securities available for sale, Amortized Cost | 511,098 | 465,574 | 181,493 |
Total available for sale Securities, Fair Value | 491,199 | 469,547 | 183,729 |
Held to Maturity, with contractual maturities, Amortized Cost | 385,408 | 133,976 | 54,319 |
Held to Maturity, with contractual maturities, Fair Value | 370,328 | 135,242 | 54,881 |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Total securities available for sale, Amortized Cost | 1,747 | 2,679 | 31 |
Total available for sale Securities, Fair Value | 1,762 | 2,729 | 30 |
Held to Maturity, with contractual maturities, Amortized Cost | 6,852 | 14,082 | 24,348 |
Held to Maturity, with contractual maturities, Fair Value | 6,892 | 14,212 | 23,118 |
Commercial Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Total securities available for sale, Amortized Cost | ' | ' | ' |
Total available for sale Securities, Fair Value | ' | ' | ' |
Held to Maturity, with contractual maturities, Amortized Cost | 2,241 | 1,024 | ' |
Held to Maturity, with contractual maturities, Fair Value | 2,328 | 1,063 | ' |
Equity securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Total securities available for sale, Amortized Cost | 1,444 | 1,554 | 1,593 |
Total available for sale Securities, Fair Value | 2,126 | 2,007 | 1,827 |
Held to Maturity, with contractual maturities, Amortized Cost | ' | ' | ' |
Held to Maturity, with contractual maturities, Fair Value | ' | ' | ' |
Securities_Summaries_of_Fair_V
Securities - Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | Security | Security | |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | 54 | 14 | ' |
Number of available for sale securities, Greater than 1 year | 14 | 13 | ' |
Number of available for sale securities | 68 | 27 | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | $734,257 | $101,404 | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -26,101 | -1,275 | ' |
Securities Available For Sale, 12 Months or More, Fair Value | 48,144 | 11,431 | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -13,194 | -13,339 | ' |
Securities Available For Sale, Fair Value, Total | 782,401 | 112,835 | ' |
Securities Available For Sale, Unrealized Losses, Total | -39,295 | -14,614 | ' |
Number of held to maturity securities | 80 | 3 | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | 669,220 | 16,325 | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -24,379 | -100 | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 15,674 | 477 | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -711 | -35 | ' |
Securities Held To Maturity, Fair Value, Total | 684,894 | 16,802 | ' |
Securities Held To Maturity, Unrealized Losses, Total | -25,090 | -135 | -1,879 |
Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 78 | 2 | ' |
Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 2 | 1 | ' |
U.S. Government-Sponsored Entities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | 17 | 3 | ' |
Number of available for sale securities, Greater than 1 year | ' | ' | ' |
Number of available for sale securities | 17 | 3 | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | 232,962 | 44,868 | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -5,904 | -129 | ' |
Securities Available For Sale, 12 Months or More, Fair Value | ' | ' | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | ' | ' | ' |
Securities Available For Sale, Fair Value, Total | 232,962 | 44,868 | ' |
Securities Available For Sale, Unrealized Losses, Total | -5,904 | -129 | ' |
Number of held to maturity securities | 3 | 1 | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | 24,513 | 14,901 | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -530 | -99 | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 14,378 | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -621 | ' | ' |
Securities Held To Maturity, Fair Value, Total | 38,891 | 14,901 | ' |
Securities Held To Maturity, Unrealized Losses, Total | -1,151 | -99 | ' |
U.S. Government-Sponsored Entities [Member] | Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 2 | 1 | ' |
U.S. Government-Sponsored Entities [Member] | Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 1 | ' | ' |
Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | 9 | ' | ' |
Number of available for sale securities, Greater than 1 year | ' | ' | ' |
Number of available for sale securities | 9 | ' | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | 108,284 | ' | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -1,303 | ' | ' |
Securities Available For Sale, 12 Months or More, Fair Value | ' | ' | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | ' | ' | ' |
Securities Available For Sale, Fair Value, Total | 108,284 | ' | ' |
Securities Available For Sale, Unrealized Losses, Total | -1,303 | ' | ' |
Number of held to maturity securities | 25 | 1 | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | 308,864 | 1,424 | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -5,942 | -1 | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 1,296 | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -90 | ' | ' |
Securities Held To Maturity, Fair Value, Total | 310,160 | 1,424 | ' |
Securities Held To Maturity, Unrealized Losses, Total | -6,032 | -1 | ' |
Agency Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 24 | 1 | ' |
Agency Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 1 | ' | ' |
Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | 26 | 3 | ' |
Number of available for sale securities, Greater than 1 year | 2 | ' | ' |
Number of available for sale securities | 28 | 3 | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | 389,989 | 47,174 | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -18,644 | -228 | ' |
Securities Available For Sale, 12 Months or More, Fair Value | 34,229 | ' | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -2,150 | ' | ' |
Securities Available For Sale, Fair Value, Total | 424,218 | 47,174 | ' |
Securities Available For Sale, Unrealized Losses, Total | -20,794 | -228 | ' |
Number of held to maturity securities | 21 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | 301,312 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -15,844 | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | ' | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | ' | ' | ' |
Securities Held To Maturity, Fair Value, Total | 301,312 | ' | ' |
Securities Held To Maturity, Unrealized Losses, Total | -15,844 | ' | -11 |
Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 21 | ' | ' |
Agency Collateralized Mortgage Obligations [Member] | Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | ' | ' | ' |
States of the U.S. and Political Subdivisions [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | 2 | ' | ' |
Number of available for sale securities, Greater than 1 year | ' | ' | ' |
Number of available for sale securities | 2 | ' | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | 3,022 | ' | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -250 | ' | ' |
Securities Available For Sale, 12 Months or More, Fair Value | ' | ' | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | ' | ' | ' |
Securities Available For Sale, Fair Value, Total | 3,022 | ' | ' |
Securities Available For Sale, Unrealized Losses, Total | -250 | ' | ' |
Number of held to maturity securities | 27 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | 31,537 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -2,022 | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | ' | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | ' | ' | ' |
Securities Held To Maturity, Fair Value, Total | 31,537 | ' | ' |
Securities Held To Maturity, Unrealized Losses, Total | -2,022 | ' | ' |
States of the U.S. and Political Subdivisions [Member] | Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 27 | ' | ' |
States of the U.S. and Political Subdivisions [Member] | Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | ' | ' | ' |
Collateralized Debt Obligations [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | ' | 7 | ' |
Number of available for sale securities, Greater than 1 year | 8 | 9 | ' |
Number of available for sale securities | 8 | 16 | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | ' | 8,708 | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | ' | -909 | ' |
Securities Available For Sale, 12 Months or More, Fair Value | 7,965 | 5,532 | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -10,115 | -12,367 | ' |
Securities Available For Sale, Fair Value, Total | 7,965 | 14,240 | ' |
Securities Available For Sale, Unrealized Losses, Total | -10,115 | -13,276 | ' |
Number of held to maturity securities | ' | 1 | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | ' | ' | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | ' | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | ' | 477 | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | ' | -35 | ' |
Securities Held To Maturity, Fair Value, Total | ' | 477 | ' |
Securities Held To Maturity, Unrealized Losses, Total | ' | -35 | -314 |
Collateralized Debt Obligations [Member] | Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | ' | ' | ' |
Collateralized Debt Obligations [Member] | Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | ' | 1 | ' |
Other Debt Securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | ' | ' | ' |
Number of available for sale securities, Greater than 1 year | 4 | 4 | ' |
Number of available for sale securities | 4 | 4 | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | ' | ' | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | ' | ' | ' |
Securities Available For Sale, 12 Months or More, Fair Value | 5,950 | 5,899 | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -929 | -972 | ' |
Securities Available For Sale, Fair Value, Total | 5,950 | 5,899 | ' |
Securities Available For Sale, Unrealized Losses, Total | -929 | -972 | ' |
Securities Held To Maturity, Unrealized Losses, Total | ' | ' | -181 |
Equity securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of available for sale securities, Less than 1 year | ' | 1 | ' |
Number of available for sale securities, Greater than 1 year | ' | ' | ' |
Number of available for sale securities | ' | 1 | ' |
Securities Available For Sale, Less than 12 Months, Fair Value | ' | 654 | ' |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | ' | -9 | ' |
Securities Available For Sale, 12 Months or More, Fair Value | ' | ' | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | ' | ' | ' |
Securities Available For Sale, Fair Value, Total | ' | 654 | ' |
Securities Available For Sale, Unrealized Losses, Total | ' | -9 | ' |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 3 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | 2,010 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -4 | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | ' | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | ' | ' | ' |
Securities Held To Maturity, Fair Value, Total | 2,010 | ' | ' |
Securities Held To Maturity, Unrealized Losses, Total | -4 | ' | -1,373 |
Non-Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 3 | ' | ' |
Non-Agency Collateralized Mortgage Obligations [Member] | Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | ' | ' | ' |
Commercial Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 1 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Fair Value | 984 | ' | ' |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -37 | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Fair Value | ' | ' | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | ' | ' | ' |
Securities Held To Maturity, Fair Value, Total | 984 | ' | ' |
Securities Held To Maturity, Unrealized Losses, Total | ($37) | ' | ' |
Commercial Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | 1 | ' | ' |
Commercial Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | ' | ' | ' |
Schedule Of Securities [Line Items] | ' | ' | ' |
Number of held to maturity securities | ' | ' | ' |
Securities_Summary_of_Cumulati
Securities - Summary of Cumulative Credit-Related OTTI Charges (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | $17,367 | $18,398 |
Loss where impairment was not previously recognized | 27 | 212 |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | -212 | -1,243 |
Ending balance | 17,182 | 17,367 |
Collateralized Debt Obligations [Member] | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | 17,155 | 18,369 |
Loss where impairment was not previously recognized | ' | ' |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | ' | -1,214 |
Ending balance | 17,155 | 17,155 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | 212 | 29 |
Loss where impairment was not previously recognized | ' | 212 |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | -212 | -29 |
Ending balance | ' | 212 |
Equity securities [Member] | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | ' | ' |
Loss where impairment was not previously recognized | 27 | ' |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | ' | ' |
Ending balance | $27 | ' |
Securities_Trust_Preferred_Sec
Securities - Trust Preferred Securities (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Issuer | |
Schedule Of Securities [Line Items] | ' |
TPS, Current Par Value | $103,591 |
TPS, Amortized Cost | 44,082 |
TPS, Fair Value | 37,545 |
TPS, Unrealized Gain (Loss) | -6,537 |
TPS, Number of Issuers Currently Performing | 875 |
Single Issuer TPS, Fair Value | 5,950 |
Fair Value | 31,595 |
Pooled TPS P1 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,500 |
Amortized Cost | 2,611 |
Fair Value | 1,567 |
Unrealized Gain (Loss) | -1,044 |
Number of Issuers Currently Performing | 42 |
Actual Defaults (as a percent of original collateral) | 22.00% |
Actual Deferrals (as a percent of original collateral) | 7.00% |
Projected Recovery Rates on Current Deferrals | 41.00% |
Expected Defaults | 17.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P2 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 4,889 |
Amortized Cost | 3,133 |
Fair Value | 1,326 |
Unrealized Gain (Loss) | -1,807 |
Number of Issuers Currently Performing | 40 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 15.00% |
Projected Recovery Rates on Current Deferrals | 45.00% |
Expected Defaults | 14.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P3 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,561 |
Amortized Cost | 4,416 |
Fair Value | 1,691 |
Unrealized Gain (Loss) | -2,725 |
Number of Issuers Currently Performing | 46 |
Actual Defaults (as a percent of original collateral) | 13.00% |
Actual Deferrals (as a percent of original collateral) | 9.00% |
Projected Recovery Rates on Current Deferrals | 34.00% |
Expected Defaults | 16.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P4 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 3,994 |
Amortized Cost | 3,169 |
Fair Value | 1,196 |
Unrealized Gain (Loss) | -1,973 |
Number of Issuers Currently Performing | 51 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 6.00% |
Projected Recovery Rates on Current Deferrals | 46.00% |
Expected Defaults | 16.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P5 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 2,000 |
Amortized Cost | 780 |
Fair Value | 373 |
Unrealized Gain (Loss) | -407 |
Number of Issuers Currently Performing | 14 |
Actual Defaults (as a percent of original collateral) | 29.00% |
Actual Deferrals (as a percent of original collateral) | 10.00% |
Projected Recovery Rates on Current Deferrals | 48.00% |
Expected Defaults | 11.00% |
Class | 'B3 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P6 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 3,028 |
Amortized Cost | 2,539 |
Fair Value | 1,016 |
Unrealized Gain (Loss) | -1,523 |
Number of Issuers Currently Performing | 50 |
Actual Defaults (as a percent of original collateral) | 15.00% |
Actual Deferrals (as a percent of original collateral) | 18.00% |
Projected Recovery Rates on Current Deferrals | 50.00% |
Expected Defaults | 10.00% |
Class | 'B1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P7 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,048 |
Amortized Cost | 864 |
Fair Value | 1,453 |
Unrealized Gain (Loss) | 589 |
Number of Issuers Currently Performing | 38 |
Actual Defaults (as a percent of original collateral) | 14.00% |
Actual Deferrals (as a percent of original collateral) | 19.00% |
Projected Recovery Rates on Current Deferrals | 38.00% |
Expected Defaults | 13.00% |
Class | 'C |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P8 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 2,011 |
Amortized Cost | 788 |
Fair Value | 341 |
Unrealized Gain (Loss) | -447 |
Number of Issuers Currently Performing | 44 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 11.00% |
Projected Recovery Rates on Current Deferrals | 36.00% |
Expected Defaults | 17.00% |
Class | 'C |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.32% |
Pooled TPS P9 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 2,000 |
Amortized Cost | 645 |
Fair Value | 456 |
Unrealized Gain (Loss) | -189 |
Number of Issuers Currently Performing | 25 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 10.00% |
Projected Recovery Rates on Current Deferrals | 37.00% |
Expected Defaults | 11.00% |
Class | 'A4L |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Total OTTI [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 34,031 |
Amortized Cost | 18,945 |
Fair Value | 9,419 |
Unrealized Gain (Loss) | -9,526 |
Number of Issuers Currently Performing | 350 |
Actual Defaults (as a percent of original collateral) | 17.00% |
Actual Deferrals (as a percent of original collateral) | 11.00% |
Projected Recovery Rates on Current Deferrals | 42.00% |
Expected Defaults | 15.00% |
Pooled TPS P10 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,219 |
Amortized Cost | 1,109 |
Fair Value | 1,487 |
Unrealized Gain (Loss) | 378 |
Number of Issuers Currently Performing | 42 |
Actual Defaults (as a percent of original collateral) | 22.00% |
Actual Deferrals (as a percent of original collateral) | 7.00% |
Projected Recovery Rates on Current Deferrals | 41.00% |
Expected Defaults | 17.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P11 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,000 |
Amortized Cost | 2,240 |
Fair Value | 2,384 |
Unrealized Gain (Loss) | 144 |
Number of Issuers Currently Performing | 40 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 15.00% |
Projected Recovery Rates on Current Deferrals | 45.00% |
Expected Defaults | 14.00% |
Class | 'A2A |
Lowest Credit Ratings | 'B+ |
Excess Subordination (as a percent of current collateral) | 51.83% |
Pooled TPS P12 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 4,781 |
Amortized Cost | 1,371 |
Fair Value | 1,454 |
Unrealized Gain (Loss) | 83 |
Number of Issuers Currently Performing | 46 |
Actual Defaults (as a percent of original collateral) | 13.00% |
Actual Deferrals (as a percent of original collateral) | 9.00% |
Projected Recovery Rates on Current Deferrals | 34.00% |
Expected Defaults | 16.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P13 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,260 |
Amortized Cost | 1,336 |
Fair Value | 1,574 |
Unrealized Gain (Loss) | 238 |
Number of Issuers Currently Performing | 51 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 6.00% |
Projected Recovery Rates on Current Deferrals | 46.00% |
Expected Defaults | 16.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P14 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,190 |
Amortized Cost | 1,108 |
Fair Value | 1,357 |
Unrealized Gain (Loss) | 249 |
Number of Issuers Currently Performing | 57 |
Actual Defaults (as a percent of original collateral) | 15.00% |
Actual Deferrals (as a percent of original collateral) | 12.00% |
Projected Recovery Rates on Current Deferrals | 28.00% |
Expected Defaults | 17.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P15 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 3,206 |
Amortized Cost | 429 |
Fair Value | 616 |
Unrealized Gain (Loss) | 187 |
Number of Issuers Currently Performing | 41 |
Actual Defaults (as a percent of original collateral) | 21.00% |
Actual Deferrals (as a percent of original collateral) | 6.00% |
Projected Recovery Rates on Current Deferrals | 23.00% |
Expected Defaults | 17.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P16 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 3,339 |
Amortized Cost | 678 |
Fair Value | 775 |
Unrealized Gain (Loss) | 97 |
Number of Issuers Currently Performing | 37 |
Actual Defaults (as a percent of original collateral) | 17.00% |
Actual Deferrals (as a percent of original collateral) | 9.00% |
Projected Recovery Rates on Current Deferrals | 31.00% |
Expected Defaults | 14.00% |
Class | 'C |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P17 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 2,069 |
Amortized Cost | 694 |
Fair Value | 763 |
Unrealized Gain (Loss) | 69 |
Number of Issuers Currently Performing | 33 |
Actual Defaults (as a percent of original collateral) | 14.00% |
Actual Deferrals (as a percent of original collateral) | 17.00% |
Projected Recovery Rates on Current Deferrals | 40.00% |
Expected Defaults | 14.00% |
Class | 'B |
Lowest Credit Ratings | 'Ca |
Excess Subordination (as a percent of current collateral) | 21.87% |
Pooled TPS P18 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,000 |
Amortized Cost | 2,243 |
Fair Value | 3,096 |
Unrealized Gain (Loss) | 853 |
Number of Issuers Currently Performing | 19 |
Actual Defaults (as a percent of original collateral) | 0.00% |
Actual Deferrals (as a percent of original collateral) | 8.00% |
Projected Recovery Rates on Current Deferrals | 90.00% |
Expected Defaults | 14.00% |
Class | 'B2 |
Lowest Credit Ratings | 'CCC |
Excess Subordination (as a percent of current collateral) | 38.10% |
Pooled TPS P19 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 4,080 |
Amortized Cost | 976 |
Fair Value | 1,498 |
Unrealized Gain (Loss) | 522 |
Number of Issuers Currently Performing | 44 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 11.00% |
Projected Recovery Rates on Current Deferrals | 36.00% |
Expected Defaults | 17.00% |
Class | 'B |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 15.00% |
Pooled TPS P20 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 3,279 |
Amortized Cost | 1,977 |
Fair Value | 2,107 |
Unrealized Gain (Loss) | 103 |
Number of Issuers Currently Performing | 46 |
Actual Defaults (as a percent of original collateral) | 21.00% |
Actual Deferrals (as a percent of original collateral) | 6.00% |
Projected Recovery Rates on Current Deferrals | 42.00% |
Expected Defaults | 15.00% |
Class | 'A1 |
Lowest Credit Ratings | 'BB- |
Excess Subordination (as a percent of current collateral) | 55.16% |
Pooled TPS P21 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,000 |
Amortized Cost | 1,327 |
Fair Value | 1,331 |
Unrealized Gain (Loss) | 4 |
Number of Issuers Currently Performing | 16 |
Actual Defaults (as a percent of original collateral) | 18.00% |
Actual Deferrals (as a percent of original collateral) | 5.00% |
Projected Recovery Rates on Current Deferrals | 49.00% |
Expected Defaults | 11.00% |
Class | 'B |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P22 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,531 |
Amortized Cost | 1,440 |
Fair Value | 1,954 |
Unrealized Gain (Loss) | 514 |
Number of Issuers Currently Performing | 25 |
Actual Defaults (as a percent of original collateral) | 15.00% |
Actual Deferrals (as a percent of original collateral) | 7.00% |
Projected Recovery Rates on Current Deferrals | 40.00% |
Expected Defaults | 10.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Pooled TPS P23 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 5,606 |
Amortized Cost | 1,330 |
Fair Value | 1,780 |
Unrealized Gain (Loss) | 450 |
Number of Issuers Currently Performing | 24 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 8.00% |
Projected Recovery Rates on Current Deferrals | 42.00% |
Expected Defaults | 10.00% |
Class | 'C1 |
Lowest Credit Ratings | 'C |
Excess Subordination (as a percent of current collateral) | 0.00% |
Total Not OTTI [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 62,560 |
Amortized Cost | 18,258 |
Fair Value | 22,176 |
Unrealized Gain (Loss) | 3,918 |
Number of Issuers Currently Performing | 521 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 9.00% |
Projected Recovery Rates on Current Deferrals | 41.00% |
Expected Defaults | 15.00% |
Total Pooled TPS [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Current Par Value | 96,591 |
Amortized Cost | 37,203 |
Fair Value | 31,595 |
Unrealized Gain (Loss) | -5,608 |
Number of Issuers Currently Performing | 871 |
Actual Defaults (as a percent of original collateral) | 16.00% |
Actual Deferrals (as a percent of original collateral) | 10.00% |
Projected Recovery Rates on Current Deferrals | 41.00% |
Expected Defaults | 15.00% |
Single Issuer TPS S1 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Single Issuer TPS, Current Par Value | 2,000 |
Single Issuer TPS, Amortized Cost | 1,955 |
Single Issuer TPS, Fair Value | 1,580 |
Single Issuer TPS, Unrealized Gain (Loss) | -375 |
Lowest Credit Ratings | 'BB |
Single Issuer TPS, Number of Issuers Currently Performing | 1 |
Single Issuer TPS S2 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Single Issuer TPS, Current Par Value | 2,000 |
Single Issuer TPS, Amortized Cost | 1,925 |
Single Issuer TPS, Fair Value | 1,630 |
Single Issuer TPS, Unrealized Gain (Loss) | -295 |
Lowest Credit Ratings | 'BBB |
Single Issuer TPS, Number of Issuers Currently Performing | 1 |
Single Issuer TPS S3 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Single Issuer TPS, Current Par Value | 2,000 |
Single Issuer TPS, Amortized Cost | 2,000 |
Single Issuer TPS, Fair Value | 1,950 |
Single Issuer TPS, Unrealized Gain (Loss) | -50 |
Lowest Credit Ratings | 'B+ |
Single Issuer TPS, Number of Issuers Currently Performing | 1 |
Single Issuer TPS S4 [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Single Issuer TPS, Current Par Value | 1,000 |
Single Issuer TPS, Amortized Cost | 999 |
Single Issuer TPS, Fair Value | 790 |
Single Issuer TPS, Unrealized Gain (Loss) | -209 |
Lowest Credit Ratings | 'BB |
Single Issuer TPS, Number of Issuers Currently Performing | 1 |
Single Issuer TPS [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Single Issuer TPS, Current Par Value | 7,000 |
Single Issuer TPS, Amortized Cost | 6,879 |
Single Issuer TPS, Fair Value | 5,950 |
Single Issuer TPS, Unrealized Gain (Loss) | ($929) |
Single Issuer TPS, Number of Issuers Currently Performing | 4 |
Securities_Trust_Preferred_Sec1
Securities - Trust Preferred Securities (Parenthetical) (Detail) | Dec. 31, 2013 |
Minimum [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Deferral rate after five years | 10.00% |
Maximum [Member] | ' |
Schedule Of Securities [Line Items] | ' |
Deferral rate after five years | 90.00% |
Federal_Home_Loan_Bank_Stock_A
Federal Home Loan Bank Stock - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Federal Home Loan Bank stock | $23,636 | $24,560 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Summary of Loans, Net of Unearned Income (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | $9,506,094 | $8,137,719 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 3,245,209 | 2,707,046 |
Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,881,474 | 1,602,314 |
Commercial Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 158,895 | 130,133 |
Total Commercial Loans and Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 5,285,578 | 4,439,493 |
Direct Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,467,236 | 1,178,530 |
Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,086,739 | 1,092,228 |
Indirect Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 655,587 | 582,037 |
Consumer Lines of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 965,771 | 805,494 |
Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 45,183 | 39,937 |
Originated Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 8,154,765 | 7,237,391 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 2,640,428 | 2,448,471 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,761,668 | 1,555,301 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 158,895 | 130,133 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 4,560,991 | 4,133,905 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,387,995 | 1,108,865 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 678,227 | 653,826 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 649,701 | 568,324 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 832,668 | 732,534 |
Originated Loans [Member] | Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 45,183 | 39,937 |
Acquired Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,351,329 | 900,328 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 604,781 | 258,575 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 119,806 | 47,013 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 724,587 | 305,588 |
Acquired Loans [Member] | Direct Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 79,241 | 69,665 |
Acquired Loans [Member] | Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 408,512 | 438,402 |
Acquired Loans [Member] | Indirect Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 5,886 | 13,713 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | $133,103 | $72,960 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | $9,506,094 | $8,137,719 |
Outstanding contractual balance receivable of acquired loans | 1,449,227 | 949,862 |
Commercial construction loans | 252,842 | 190,206 |
Concentration of loans | 0 | 0 |
Concentration of loans, percentage | 'Excess of 10% | ' |
Payoffs received on loans in excess of expected cash flows | 440 | 3,539 |
Threshold period past due for default status of trade accounts receivable | '90 days | '90 days |
Minimum corporation reserves for commercial loan | 500 | ' |
Minimum amount to allocate specific valuation allowance | 500 | ' |
Recorded Investment | 3,728 | ' |
Allowance for loan losses | 5,900 | 4,180 |
Restructured loans returned to performing status | 2,952 | ' |
Specific reserves in allowance for loan losses, TDRs | 561 | 41 |
Pooled reserves in allowance for loan losses, TDRs | 193 | 297 |
Valuation for impairment of loans with pooled reserves | 500 | 500 |
Pooled reserves for all other classes of loans | 1,005 | 1,455 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 3,245,209 | 2,707,046 |
Recorded Investment | 44,075 | 49,742 |
Allowance for loan losses | 3,093 | 1,955 |
Commercial Real Estate [Member] | FLORIDA [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Commercial real estate loans | 39,379 | 68,627 |
Percentage of loan portfolio | 0.40% | 0.80% |
Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,881,474 | 1,602,314 |
Recorded Investment | 7,423 | 7,664 |
Allowance for loan losses | 786 | 1,140 |
Direct Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,467,236 | 1,178,530 |
Recorded Investment | 10,577 | 8,541 |
Allowance for loan losses | 727 | 657 |
Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,086,739 | 1,092,228 |
Recorded Investment | 14,012 | 11,414 |
Allowance for loan losses | 970 | 69 |
Indirect Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | 324 | 359 |
Consumer Lines of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 965,771 | 805,494 |
Percentage of loan portfolio | 1.90% | 2.10% |
Consumer loans | 179,970 | 170,999 |
Recorded Investment | 597 | 746 |
Commercial Construction Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Percentage of loan portfolio | 2.70% | 2.30% |
Acquired Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,345,429 | 896,148 |
Purchased Credit-Impaired Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Carrying Amount | 21,192 | 15,864 |
Outstanding contractual receivable of PCI loan | 56,500 | 41,134 |
Recorded Investment | $22,192 | $16,623 |
Owner-Occupied [Member] | Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Percentage of loan portfolio | 43.10% | 46.50% |
Non-Owner-Occupied [Member] | Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Percentage of loan portfolio | 56.90% | 53.50% |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Threshold period past due for default non-accrual status of trade accounts receivable | '90 days | ' |
Installment Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Threshold period past due for default non-accrual status of trade accounts receivable | '120 days | ' |
Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Threshold period past due for default non-accrual status of trade accounts receivable | '180 days | ' |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Summary of Loans To Related Parties (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Receivables [Abstract] | ' |
Total loans, Beginning Balance | $74,096 |
New loans | 3,210 |
Repayments | -7,749 |
Other | -25,334 |
Total loans, Ending Balance | $44,223 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Carrying Amounts at Acquisition of All Purchased Loans (Impaired and Non-Impaired) Acquired (Detail) (Acquired Loans [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Annapolis Bancorp Inc. And PVF Capital Corp. [Member] | Parkvale Financial Corporation [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Performing Loans [Member] | Performing Loans [Member] |
Annapolis Bancorp Inc. And PVF Capital Corp. [Member] | Parkvale Financial Corporation [Member] | Annapolis Bancorp Inc. And PVF Capital Corp. [Member] | Parkvale Financial Corporation [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' | ' | ' | ' | ' | ' |
Contractually required cash flows at acquisition | $837,086 | $1,339,566 | $40,972 | $12,224 | $796,114 | $1,327,342 |
Non-accretable difference (expected losses and foregone interest) | -76,199 | -220,611 | -23,207 | -6,070 | -52,992 | -214,541 |
Cash flows expected to be collected at acquisition | 760,887 | 1,118,955 | 17,765 | 6,154 | 743,122 | 1,112,801 |
Accretable yield | -115,352 | -294,183 | -2,505 | -589 | -112,847 | -293,594 |
Basis in acquired loans at acquisition | $645,535 | $824,772 | $15,260 | $5,565 | $630,275 | $819,207 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Summary of Change in Accretable Yield of Acquired Loans (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' | ' |
Balance at beginning of period | $254,153 | $51,706 |
Acquisitions | 115,352 | 294,183 |
Reduction due to unexpected early payoffs | -42,582 | -57,840 |
Reclass from non-accretable difference | 16,393 | 14,454 |
Disposals/transfers | -592 | -664 |
Accretion | -37,078 | -47,686 |
Balance at end of period | 305,646 | 254,153 |
Acquired Impaired Loans [Member] | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' | ' |
Balance at beginning of period | 778 | 2,477 |
Acquisitions | 2,505 | 589 |
Reclass from non-accretable difference | 8,097 | 3,539 |
Disposals/transfers | -368 | -49 |
Accretion | -3,556 | -5,778 |
Balance at end of period | 7,456 | 778 |
Acquired Performing Loans [Member] | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' | ' |
Balance at beginning of period | 253,375 | 49,229 |
Acquisitions | 112,847 | 293,594 |
Reduction due to unexpected early payoffs | -42,582 | -57,840 |
Reclass from non-accretable difference | 8,296 | 10,915 |
Disposals/transfers | -224 | -615 |
Accretion | -33,522 | -41,908 |
Balance at end of period | $298,190 | $253,375 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Summary of Purchased Credit-Impaired Loans, Information Identified in Corporation's Acquisition of ANNB and PVF (Detail) (USD $) | Dec. 31, 2013 | Apr. 06, 2013 | Dec. 31, 2013 | Oct. 12, 2013 |
In Thousands, unless otherwise specified | Annapolis Bancorp, Inc. [Member] | Annapolis Bancorp, Inc. [Member] | PVF Capital Corp (PVF) [Member] | PVF Capital Corp (PVF) [Member] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' | ' | ' | ' |
Outstanding balance | $5,580 | $12,220 | $29,642 | $29,811 |
Carrying amount | 2,308 | 3,848 | 11,063 | 11,412 |
Allowance for loan losses | ' | ' | ' | ' |
Impairment recognized since acquisition | 31 | ' | ' | ' |
Allowance reduction recognized since acquisition | ' | ' | ' | ' |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Summary of Information about Corporation's Purchased Credit-Impaired Loans (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | $254,153 | $51,706 |
Accretion | -37,078 | -47,686 |
Reclass from non-accretable difference | 16,393 | 14,454 |
Disposals/transfers | 592 | 664 |
Balance at end of period | 305,646 | 254,153 |
Recorded Investment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | 16,623 | 15,839 |
Acquisitions | 15,260 | 5,565 |
Accretion | 3,556 | 5,778 |
Payments received | -9,325 | -9,556 |
Reclass from non-accretable difference | ' | ' |
Disposals/transfers | -3,922 | -1,003 |
Contractual interest | ' | ' |
Balance at end of period | 22,192 | 16,623 |
Accretable Yield [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | -778 | -2,477 |
Acquisitions | -2,505 | -589 |
Accretion | 3,556 | 5,778 |
Payments received | ' | ' |
Reclass from non-accretable difference | -8,097 | -3,539 |
Disposals/transfers | 368 | 49 |
Balance at end of period | -7,456 | -778 |
Expected Cash Flows [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | 17,401 | 18,316 |
Acquisitions | 17,765 | 6,154 |
Payments received | -9,325 | -9,556 |
Reclass from non-accretable difference | 8,097 | 3,539 |
Disposals/transfers | -4,290 | -1,052 |
Balance at end of period | 29,648 | 17,401 |
Non-Accretable Difference [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | -23,733 | -33,377 |
Acquisitions | -24,266 | -2,981 |
Payments received | 1,345 | ' |
Reclass from non-accretable difference | 8,097 | 3,539 |
Disposals/transfers | 14,405 | 11,442 |
Contractual interest | -2,700 | -2,356 |
Balance at end of period | -26,852 | -23,733 |
Outstanding Balance [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of year | 41,134 | 51,693 |
Acquisitions | 42,031 | 9,135 |
Payments received | -10,670 | -9,556 |
Disposals/transfers | -18,695 | -12,494 |
Contractual interest | 2,700 | 2,356 |
Balance at end of period | $56,500 | $41,134 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Summary of Non-Performing Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Troubled debt restructurings | $41,623 | $39,920 |
Non-Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non-accrual loans | 58,755 | 66,004 |
Troubled debt restructurings | 18,698 | 14,876 |
Total non-performing loans | 77,453 | 80,880 |
Other real estate owned (OREO) | 40,681 | 35,257 |
Total non-performing loans and OREO | 118,134 | 116,137 |
Non-performing investments | 797 | 2,809 |
Total non-performing assets | $118,931 | $118,946 |
Non-performing loans as a percent of total loans | 0.81% | 0.99% |
Non-performing loans + OREO as a percent of total loans + OREO | 1.24% | 1.42% |
Non-performing assets as a percent of total assets | 0.88% | 0.99% |
Recovered_Sheet1
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans, by Class (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | $9,506,094 | $8,137,719 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 3,245,209 | 2,707,046 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 1,881,474 | 1,602,314 |
Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 158,895 | 130,133 |
Total Commercial Loans and Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 5,285,578 | 4,439,493 |
Direct Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 1,467,236 | 1,178,530 |
Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 1,086,739 | 1,092,228 |
Indirect Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 655,587 | 582,037 |
Consumer Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 965,771 | 805,494 |
Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 45,183 | 39,937 |
Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 37,342 | 46,205 |
> 90 Days Past Due and Still Accruing | 7,971 | 6,707 |
Non- Accrual | 58,755 | 66,004 |
Total Past Due | 104,068 | 118,916 |
Current | 8,050,697 | 7,118,475 |
Total Loans | 8,154,765 | 7,237,391 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 5,428 | 5,786 |
> 90 Days Past Due and Still Accruing | 252 | 533 |
Non- Accrual | 40,960 | 47,895 |
Total Past Due | 46,640 | 54,214 |
Current | 2,593,788 | 2,394,257 |
Total Loans | 2,640,428 | 2,448,471 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 2,066 | 7,310 |
> 90 Days Past Due and Still Accruing | 8 | 456 |
Non- Accrual | 6,643 | 6,017 |
Total Past Due | 8,717 | 13,783 |
Current | 1,752,951 | 1,541,518 |
Total Loans | 1,761,668 | 1,555,301 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 714 | 1,671 |
Non- Accrual | 734 | 965 |
Total Past Due | 1,448 | 2,636 |
Current | 157,447 | 127,497 |
Total Loans | 158,895 | 130,133 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 8,208 | 14,767 |
> 90 Days Past Due and Still Accruing | 260 | 989 |
Non- Accrual | 48,337 | 54,877 |
Total Past Due | 56,805 | 70,633 |
Current | 4,504,186 | 4,063,272 |
Total Loans | 4,560,991 | 4,133,905 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 9,038 | 8,834 |
> 90 Days Past Due and Still Accruing | 3,753 | 2,717 |
Non- Accrual | 4,686 | 3,342 |
Total Past Due | 17,477 | 14,893 |
Current | 1,370,518 | 1,093,972 |
Total Loans | 1,387,995 | 1,108,865 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 12,681 | 15,821 |
> 90 Days Past Due and Still Accruing | 2,401 | 2,365 |
Non- Accrual | 4,260 | 2,891 |
Total Past Due | 19,342 | 21,077 |
Current | 658,885 | 632,749 |
Total Loans | 678,227 | 653,826 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 5,653 | 5,114 |
> 90 Days Past Due and Still Accruing | 471 | 374 |
Non- Accrual | 1,060 | 1,039 |
Total Past Due | 7,184 | 6,527 |
Current | 642,517 | 561,797 |
Total Loans | 649,701 | 568,324 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 1,737 | 1,633 |
> 90 Days Past Due and Still Accruing | 1,076 | 247 |
Non- Accrual | 412 | 355 |
Total Past Due | 3,225 | 2,235 |
Current | 829,443 | 730,299 |
Total Loans | 832,668 | 732,534 |
Originated Loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 25 | 36 |
> 90 Days Past Due and Still Accruing | 10 | 15 |
Non- Accrual | ' | 3,500 |
Total Past Due | 35 | 3,551 |
Current | 45,148 | 36,386 |
Total Loans | 45,183 | 39,937 |
Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 30,205 | 22,799 |
> 90 Days Past Due and Still Accruing | 45,823 | 36,585 |
Total Past Due | 76,028 | 59,384 |
Current | 1,373,199 | 890,478 |
Discount | -97,898 | -49,534 |
Total Loans | 1,351,329 | 900,328 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 13,637 | 6,829 |
> 90 Days Past Due and Still Accruing | 20,668 | 13,597 |
Total Past Due | 34,305 | 20,426 |
Current | 619,197 | 250,116 |
Discount | -48,721 | -11,967 |
Total Loans | 604,781 | 258,575 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 1,860 | 1,653 |
> 90 Days Past Due and Still Accruing | 1,899 | 138 |
Total Past Due | 3,759 | 1,791 |
Current | 124,415 | 47,351 |
Discount | -8,368 | -2,129 |
Total Loans | 119,806 | 47,013 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 15,497 | 8,482 |
> 90 Days Past Due and Still Accruing | 22,567 | 13,735 |
Total Past Due | 38,064 | 22,217 |
Current | 743,612 | 297,467 |
Discount | -57,089 | -14,096 |
Total Loans | 724,587 | 305,588 |
Acquired Loans [Member] | Direct Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 1,447 | 1,454 |
> 90 Days Past Due and Still Accruing | 1,178 | 947 |
Total Past Due | 2,625 | 2,401 |
Current | 74,917 | 63,502 |
Discount | 1,699 | 3,762 |
Total Loans | 79,241 | 69,665 |
Acquired Loans [Member] | Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 11,464 | 12,137 |
> 90 Days Past Due and Still Accruing | 19,298 | 21,069 |
Total Past Due | 30,762 | 33,206 |
Current | 412,704 | 439,620 |
Discount | -34,954 | -34,424 |
Total Loans | 408,512 | 438,402 |
Acquired Loans [Member] | Indirect Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 205 | 347 |
> 90 Days Past Due and Still Accruing | 31 | 56 |
Total Past Due | 236 | 403 |
Current | 6,267 | 14,089 |
Discount | -617 | -779 |
Total Loans | 5,886 | 13,713 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 1,592 | 379 |
> 90 Days Past Due and Still Accruing | 2,749 | 778 |
Total Past Due | 4,341 | 1,157 |
Current | 135,699 | 75,800 |
Discount | -6,937 | -3,997 |
Total Loans | $133,103 | $72,960 |
Recovered_Sheet2
Loans and Allowance for Loan Losses - Summary of Commercial Loans by Credit Quality (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | $4,560,991 | $4,133,905 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 2,640,428 | 2,448,471 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 1,761,668 | 1,555,301 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 158,895 | 130,133 |
Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 724,587 | 305,588 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 604,781 | 258,575 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 119,806 | 47,013 |
Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | ' | ' |
Pass [Member] | Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 4,244,509 | 3,881,020 |
Pass [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 2,476,988 | 2,282,139 |
Pass [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 1,611,530 | 1,472,598 |
Pass [Member] | Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 155,991 | 126,283 |
Pass [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 543,347 | 243,896 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 442,604 | 204,300 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 100,743 | 39,596 |
Pass [Member] | Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | ' | ' |
Special Mention [Member] | Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 155,760 | 90,408 |
Special Mention [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 56,140 | 57,938 |
Special Mention [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 97,675 | 32,227 |
Special Mention [Member] | Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 1,945 | 243 |
Special Mention [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 80,497 | 18,324 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 74,315 | 14,713 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 6,182 | 3,611 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | ' | ' |
Substandard [Member] | Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 159,880 | 159,679 |
Substandard [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 106,599 | 106,258 |
Substandard [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 52,322 | 49,814 |
Substandard [Member] | Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 959 | 3,607 |
Substandard [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 97,952 | 42,897 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 85,086 | 39,093 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 12,866 | 3,804 |
Substandard [Member] | Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | ' | ' |
Doubtful [Member] | Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 842 | 2,798 |
Doubtful [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 701 | 2,136 |
Doubtful [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 141 | 662 |
Doubtful [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 2,791 | 471 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 2,776 | 469 |
Doubtful [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 15 | 2 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | ' | ' |
Recovered_Sheet3
Loans and Allowance for Loan Losses - Summary of Consumer Loans by Payment Status (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | $9,506,094 | $8,137,719 |
Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 77,453 | 80,880 |
Direct Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 1,467,236 | 1,178,530 |
Direct Installment [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 1,377,418 | 1,100,324 |
Direct Installment [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 10,577 | 8,541 |
Residential Mortgages [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 1,086,739 | 1,092,228 |
Residential Mortgages [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 664,214 | 642,406 |
Residential Mortgages [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 14,013 | 11,420 |
Indirect Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 655,587 | 582,037 |
Indirect Installment [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 648,499 | 567,192 |
Indirect Installment [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 1,202 | 1,132 |
Consumer Lines of Credit [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 832,071 | 731,788 |
Consumer Lines of Credit [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 597 | 746 |
Other [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 45,183 | 39,937 |
Other [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 45,183 | 36,437 |
Other [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | ' | 3,500 |
Originated Loans [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 8,154,765 | 7,237,391 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 1,387,995 | 1,108,865 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 678,227 | 653,826 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 649,701 | 568,324 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 832,668 | 732,534 |
Originated Loans [Member] | Other [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | $45,183 | $39,937 |
Recovered_Sheet4
Loans and Allowance for Loan Losses - Summary of Impaired Loans, by Class (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
Recorded Investment | $3,728 | ' |
Related Allowance | 825 | ' |
Commercial Real Estate [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 40,472 | 37,119 |
With no allowance recorded, Unpaid Principal Balance | 62,034 | 50,234 |
With no allowance recorded, Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 37,376 | 36,426 |
With allowance recorded, Recorded Investment | 3,603 | 12,623 |
With allowance recorded, Unpaid Principal Balance | 3,818 | 21,877 |
With allowance recorded, Specific Related Allowance | 701 | 2,136 |
With allowance recorded, Average Recorded Investment | 14,379 | 14,522 |
Recorded Investment | 44,075 | 49,742 |
Unpaid Principal Balance | 65,852 | 72,111 |
Related Allowance | 701 | 2,136 |
Average Recorded Investment | 51,755 | 50,948 |
Commercial and Industrial [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 7,301 | 7,074 |
With no allowance recorded, Unpaid Principal Balance | 8,669 | 9,597 |
With no allowance recorded, Average Recorded Investment | 8,304 | 6,992 |
With allowance recorded, Recorded Investment | 122 | 590 |
With allowance recorded, Unpaid Principal Balance | 130 | 590 |
With allowance recorded, Specific Related Allowance | 123 | 590 |
With allowance recorded, Average Recorded Investment | 126 | 592 |
Recorded Investment | 7,423 | 7,664 |
Unpaid Principal Balance | 8,799 | 10,187 |
Related Allowance | 123 | 590 |
Average Recorded Investment | 8,430 | 7,584 |
Commercial Leases [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 734 | 965 |
With no allowance recorded, Unpaid Principal Balance | 734 | ' |
With no allowance recorded, Average Recorded Investment | 758 | 1,053 |
Recorded Investment | 734 | 965 |
Unpaid Principal Balance | 734 | ' |
Average Recorded Investment | 758 | 1,053 |
Total Commercial Loans and Leases [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 48,507 | 45,158 |
With no allowance recorded, Unpaid Principal Balance | 71,437 | 59,831 |
With no allowance recorded, Average Recorded Investment | 46,438 | 44,471 |
With allowance recorded, Recorded Investment | 3,725 | 13,213 |
With allowance recorded, Unpaid Principal Balance | 3,948 | 22,467 |
With allowance recorded, Specific Related Allowance | 824 | 2,726 |
With allowance recorded, Average Recorded Investment | 14,505 | 15,114 |
Recorded Investment | 52,232 | 58,371 |
Unpaid Principal Balance | 75,385 | 82,298 |
Related Allowance | 824 | 2,726 |
Average Recorded Investment | 60,943 | 59,585 |
Direct Installment [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 10,577 | 8,541 |
With no allowance recorded, Unpaid Principal Balance | 10,830 | 8,693 |
With no allowance recorded, Average Recorded Investment | 10,557 | 6,443 |
Recorded Investment | 10,577 | 8,541 |
Unpaid Principal Balance | 10,830 | 8,693 |
Average Recorded Investment | 10,557 | 6,443 |
Residential Mortgages [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 14,012 | 11,414 |
With no allowance recorded, Unpaid Principal Balance | 14,560 | 11,223 |
With no allowance recorded, Average Recorded Investment | 13,565 | 9,059 |
Recorded Investment | 14,012 | 11,414 |
Unpaid Principal Balance | 14,560 | 11,223 |
Average Recorded Investment | 13,565 | 9,059 |
Indirect Installment [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 1,202 | 1,132 |
With no allowance recorded, Unpaid Principal Balance | 2,633 | 2,381 |
With no allowance recorded, Average Recorded Investment | 1,127 | 1,133 |
Recorded Investment | 1,202 | 1,132 |
Unpaid Principal Balance | 2,633 | 2,381 |
Average Recorded Investment | 1,127 | 1,133 |
Consumer Lines of Credit [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 597 | 746 |
With no allowance recorded, Unpaid Principal Balance | 668 | 792 |
With no allowance recorded, Average Recorded Investment | 573 | 591 |
Recorded Investment | 597 | 746 |
Unpaid Principal Balance | 668 | 792 |
Average Recorded Investment | 573 | 591 |
Other [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | ' | 3,500 |
With no allowance recorded, Unpaid Principal Balance | ' | 3,500 |
With no allowance recorded, Average Recorded Investment | ' | 3,500 |
Recorded Investment | ' | 3,500 |
Unpaid Principal Balance | ' | 3,500 |
Average Recorded Investment | ' | $3,500 |
Recovered_Sheet5
Loans and Allowance for Loan Losses - Summary of Composition of Total TDRs (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | $41,623 | $39,920 |
Performing [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | 10,220 | 12,659 |
Non-Performing [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | 18,698 | 14,876 |
Non-Accrual [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | $12,705 | $12,385 |
Recovered_Sheet6
Loans and Allowance for Loan Losses - Summary of Troubled Debt Restructurings by Class of Loans (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 520 | 498 |
Pre-Modification Outstanding Recorded Investment | $11,366 | $10,947 |
Post-Modification Outstanding Recorded Investment | 10,175 | 11,805 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 10 | 21 |
Pre-Modification Outstanding Recorded Investment | 4,439 | 4,067 |
Post-Modification Outstanding Recorded Investment | 3,588 | 4,505 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | ' | 8 |
Pre-Modification Outstanding Recorded Investment | ' | 389 |
Post-Modification Outstanding Recorded Investment | ' | 257 |
Total Commercial Loans and Leases [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 10 | 29 |
Pre-Modification Outstanding Recorded Investment | 4,439 | 4,456 |
Post-Modification Outstanding Recorded Investment | 3,588 | 4,762 |
Direct Installment [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 409 | 362 |
Pre-Modification Outstanding Recorded Investment | 4,198 | 3,876 |
Post-Modification Outstanding Recorded Investment | 3,971 | 3,763 |
Residential Mortgages [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 54 | 56 |
Pre-Modification Outstanding Recorded Investment | 2,464 | 2,232 |
Post-Modification Outstanding Recorded Investment | 2,366 | 2,814 |
Indirect Installment [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 28 | 31 |
Pre-Modification Outstanding Recorded Investment | 117 | 169 |
Post-Modification Outstanding Recorded Investment | 107 | 151 |
Consumer Lines of Credit [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 19 | 20 |
Pre-Modification Outstanding Recorded Investment | 148 | 214 |
Post-Modification Outstanding Recorded Investment | $143 | $315 |
Recovered_Sheet7
Loans and Allowance for Loan Losses - Summary of Troubled Debt Restructurings by Class of Loans, Payment Default (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Contract | Contract | |||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 92 | 46 | ||
Recorded Investment | $1,553 | [1] | $483 | [1] |
Commercial Real Estate [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 1 | ' | ||
Recorded Investment | 737 | [1] | ' | |
Commercial and Industrial [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 1 | ' | ||
Recorded Investment | 12 | [1] | ' | |
Total Commercial Loans and Leases [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 2 | ' | ||
Recorded Investment | 749 | [1] | ' | |
Direct Installment [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 76 | 38 | ||
Recorded Investment | 380 | [1] | 249 | [1] |
Residential Mortgages [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 7 | 5 | ||
Recorded Investment | 303 | [1] | 229 | [1] |
Indirect Installment [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 6 | 3 | ||
Recorded Investment | 36 | [1] | 5 | [1] |
Consumer Lines of Credit [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Number of Contracts | 1 | ' | ||
Recorded Investment | $85 | [1] | ' | |
[1] | The recorded investment is as of period end. |
Recovered_Sheet8
Loans and Allowance for Loan Losses - Summary of Changes in Allowance for Loan Losses by Class (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | $104,374 | $100,662 | $106,120 |
Charge- Offs | -30,530 | -32,576 | -41,831 |
Recoveries | 5,850 | 4,986 | 2,732 |
Net Charge- Offs | -24,680 | -27,590 | -39,099 |
Provision for loan losses | 31,090 | 31,302 | 33,641 |
Balance at End of Year | 110,784 | 104,374 | 100,662 |
Originated Loans [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 100,194 | 100,662 | 106,120 |
Charge- Offs | -27,701 | -32,322 | -41,623 |
Recoveries | 6,226 | 4,671 | 2,725 |
Net Charge- Offs | -21,475 | -27,651 | -38,898 |
Provision for loan losses | 26,165 | 27,183 | 33,440 |
Balance at End of Year | 104,884 | 100,194 | 100,662 |
Acquired Loans [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 4,180 | ' | ' |
Charge- Offs | -2,829 | -254 | -208 |
Recoveries | -376 | 315 | 7 |
Net Charge- Offs | -3,205 | 61 | -201 |
Provision for loan losses | 4,925 | 4,119 | 201 |
Balance at End of Year | 5,900 | 4,180 | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 34,810 | 43,283 | 49,924 |
Charge- Offs | -5,465 | -8,688 | -21,018 |
Recoveries | 1,799 | 1,765 | 594 |
Net Charge- Offs | -3,666 | -6,923 | -20,424 |
Provision for loan losses | 1,404 | -1,550 | 13,783 |
Balance at End of Year | 32,548 | 34,810 | 43,283 |
Commercial and Industrial [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 31,849 | 25,476 | 24,682 |
Charge- Offs | -5,124 | -8,098 | -3,642 |
Recoveries | 2,108 | 693 | 368 |
Net Charge- Offs | -3,016 | -7,405 | -3,274 |
Provision for loan losses | 3,770 | 13,778 | 4,068 |
Balance at End of Year | 32,603 | 31,849 | 25,476 |
Commercial Leases [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 1,744 | 1,556 | 1,070 |
Charge- Offs | -432 | -509 | -567 |
Recoveries | 179 | 224 | 75 |
Net Charge- Offs | -253 | -285 | -492 |
Provision for loan losses | 412 | 473 | 978 |
Balance at End of Year | 1,903 | 1,744 | 1,556 |
Total Commercial Loans and Leases [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 68,403 | 70,315 | 75,676 |
Charge- Offs | -11,021 | -17,295 | -25,227 |
Recoveries | 4,086 | 2,682 | 1,037 |
Net Charge- Offs | -6,935 | -14,613 | -24,190 |
Provision for loan losses | 5,586 | 12,701 | 18,829 |
Balance at End of Year | 67,054 | 68,403 | 70,315 |
Direct Installment [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 15,130 | 14,814 | 14,941 |
Charge- Offs | -9,059 | -7,875 | -8,874 |
Recoveries | 931 | 942 | 876 |
Net Charge- Offs | -8,128 | -6,933 | -7,998 |
Provision for loan losses | 10,822 | 7,249 | 7,871 |
Balance at End of Year | 17,824 | 15,130 | 14,814 |
Residential Mortgages [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 5,155 | 4,437 | 4,578 |
Charge- Offs | -1,345 | -1,050 | -1,261 |
Recoveries | 162 | 194 | 67 |
Net Charge- Offs | -1,183 | -856 | -1,194 |
Provision for loan losses | 1,864 | 1,574 | 1,053 |
Balance at End of Year | 5,836 | 5,155 | 4,437 |
Indirect Installment [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 5,449 | 5,503 | 5,941 |
Charge- Offs | -3,337 | -2,926 | -2,957 |
Recoveries | 773 | 605 | 501 |
Net Charge- Offs | -2,564 | -2,321 | -2,456 |
Provision for loan losses | 3,524 | 2,267 | 2,018 |
Balance at End of Year | 6,409 | 5,449 | 5,503 |
Consumer Lines of Credit [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 6,057 | 5,447 | 4,743 |
Charge- Offs | -1,974 | -2,137 | -2,110 |
Recoveries | 274 | 234 | 213 |
Net Charge- Offs | -1,700 | -1,903 | -1,897 |
Provision for loan losses | 2,874 | 2,513 | 2,601 |
Balance at End of Year | 7,231 | 6,057 | 5,447 |
Other [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | ' | 146 | 241 |
Charge- Offs | -965 | -1,039 | -1,194 |
Recoveries | ' | 14 | 31 |
Net Charge- Offs | -965 | -1,025 | -1,163 |
Provision for loan losses | 1,495 | 879 | 1,068 |
Balance at End of Year | 530 | ' | 146 |
Purchased Credit-Impaired Loans [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 759 | ' | ' |
Charge- Offs | -299 | ' | -208 |
Recoveries | ' | ' | 7 |
Net Charge- Offs | -299 | ' | -201 |
Provision for loan losses | 540 | 759 | 201 |
Balance at End of Year | 1,000 | 759 | ' |
Other Acquired Loans [Member] | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 3,421 | ' | ' |
Charge- Offs | -2,530 | -254 | ' |
Recoveries | -376 | 315 | ' |
Net Charge- Offs | -2,906 | 61 | ' |
Provision for loan losses | 4,385 | 3,360 | ' |
Balance at End of Year | $4,900 | $3,421 | ' |
Recovered_Sheet9
Loans and Allowance for Loan Losses - Summary of Individual and Collective Allowance for Loan Losses and Loan Balances by Class (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | $824 | $2,726 |
Allowance, Collectively Evaluated for Impairment | 104,060 | 97,468 |
Loans | 9,506,094 | 8,137,719 |
Loans Outstanding, Individually Evaluated for Impairment | 34,376 | 36,648 |
Loans Outstanding, Collectively Evaluated for Impairment | 8,120,389 | 7,200,743 |
Commercial Real Estate [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | 701 | 2,136 |
Allowance, Collectively Evaluated for Impairment | 31,847 | 32,674 |
Loans | 3,245,209 | 2,707,046 |
Loans Outstanding, Individually Evaluated for Impairment | 30,133 | 35,024 |
Loans Outstanding, Collectively Evaluated for Impairment | 2,610,295 | 2,413,447 |
Commercial and Industrial [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | 123 | 590 |
Allowance, Collectively Evaluated for Impairment | 32,480 | 31,259 |
Loans | 1,881,474 | 1,602,314 |
Loans Outstanding, Individually Evaluated for Impairment | 4,243 | 1,624 |
Loans Outstanding, Collectively Evaluated for Impairment | 1,757,425 | 1,553,677 |
Commercial Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 1,903 | 1,744 |
Loans | 158,895 | 130,133 |
Loans Outstanding, Collectively Evaluated for Impairment | 158,895 | 130,133 |
Total Commercial Loans and Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | 824 | 2,726 |
Allowance, Collectively Evaluated for Impairment | 66,230 | 65,677 |
Loans | 5,285,578 | 4,439,493 |
Loans Outstanding, Individually Evaluated for Impairment | 34,376 | 36,648 |
Loans Outstanding, Collectively Evaluated for Impairment | 4,526,615 | 4,097,257 |
Direct Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 17,824 | 15,130 |
Loans | 1,467,236 | 1,178,530 |
Loans Outstanding, Collectively Evaluated for Impairment | 1,387,995 | 1,108,865 |
Residential Mortgages [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 5,836 | 5,155 |
Loans | 1,086,739 | 1,092,228 |
Loans Outstanding, Collectively Evaluated for Impairment | 678,227 | 653,826 |
Indirect Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 6,409 | 5,449 |
Loans | 655,587 | 582,037 |
Loans Outstanding, Collectively Evaluated for Impairment | 649,701 | 568,324 |
Consumer Lines of Credit [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 7,231 | 6,057 |
Loans | 965,771 | 805,494 |
Loans Outstanding, Collectively Evaluated for Impairment | 832,668 | 732,534 |
Other [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 530 | ' |
Loans | 45,183 | 39,937 |
Loans Outstanding, Collectively Evaluated for Impairment | 45,183 | 39,937 |
Originated Loans [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 8,154,765 | 7,237,391 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 2,640,428 | 2,448,471 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 1,761,668 | 1,555,301 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 158,895 | 130,133 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 4,560,991 | 4,133,905 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 1,387,995 | 1,108,865 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 678,227 | 653,826 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 649,701 | 568,324 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 832,668 | 732,534 |
Originated Loans [Member] | Other [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | $45,183 | $39,937 |
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 Useful Life And Values [Abstract] | ' | ' |
Land | $34,234 | $31,196 |
Premises | 135,633 | 128,259 |
Equipment | 117,228 | 101,144 |
Property Plant and Equipment Gross | 287,095 | 260,599 |
Accumulated depreciation | -133,063 | -120,232 |
Property Plant and Equipment Net | $154,032 | $140,367 |
Premises_and_Equipment_Additio
Premises and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment Useful Life And Values [Abstract] | ' | ' | ' |
Depreciation expense | $15,558 | $13,937 | $12,457 |
Operating leases, expiration date | '2045 | ' | ' |
Rental expense | 10,443 | 8,784 | 6,960 |
Minimum rental commitments | $66,055 | ' | ' |
Premises_and_Equipment_Summary1
Premises and Equipment - Summary of Future Minimum Lease Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Property Plant And Equipment Useful Life And Values [Abstract] | ' |
2014 | $9,994 |
2015 | 8,769 |
2016 | 7,743 |
2017 | 7,131 |
2018 | 5,545 |
Later years | $26,873 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Rollforward of Goodwill (Detail) (USD $) | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | 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 |
Community Banking [Member] | Community Banking [Member] | Wealth Management [Member] | Wealth Management [Member] | Wealth Management [Member] | Insurance [Member] | Insurance [Member] | Insurance [Member] | Consumer Finance [Member] | Consumer Finance [Member] | Consumer Finance [Member] | |||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Beginning Balance | $675,555 | $568,462 | $656,776 | $549,683 | $8,020 | $8,020 | $8,020 | $8,950 | $8,950 | $8,950 | $1,809 | $1,809 | $1,809 |
Goodwill additions | 88,693 | 107,093 | 88,693 | 107,093 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Ending Balance | $764,248 | $675,555 | $745,469 | $656,776 | $8,020 | $8,020 | $8,020 | $8,950 | $8,950 | $8,950 | $1,809 | $1,809 | $1,809 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Summary of Core Deposit Intangibles, Customer and Renewal Lists And Other Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | $119,048 | $99,885 |
Accumulated amortization | -71,440 | -62,034 |
Core deposit intangibles, Total | 47,608 | 37,851 |
Core Deposit Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 97,698 | 87,056 |
Accumulated amortization | -62,793 | -55,095 |
Core deposit intangibles, Total | 34,905 | 31,961 |
Customer And Renewal Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 10,970 | 10,970 |
Accumulated amortization | -6,407 | -5,698 |
Core deposit intangibles, Total | 4,563 | 5,272 |
Other Intangible Assets [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 10,380 | 1,859 |
Accumulated amortization | -2,240 | -1,241 |
Core deposit intangibles, Total | $8,140 | $618 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangibles | $8,407 | $8,924 | $7,040 |
Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period of intangible assets, years | '10 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period of intangible assets, years | '12 years | ' | ' |
Core Deposit Intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period of intangible assets, years | '10 years | ' | ' |
Customer And Renewal Lists [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period of intangible assets, years | '8 years | ' | ' |
Customer And Renewal Lists [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period of intangible assets, years | '12 years | ' | ' |
Other Intangible Assets [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period of intangible assets, years | '8 years | ' | ' |
Other Intangible Assets [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period of intangible assets, years | '12 years | ' | ' |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Schedule of Expected Amortization Expense on Finite-Lived Intangible Assets (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
2014 | $8,615 |
2015 | 6,590 |
2016 | 5,580 |
2017 | 4,855 |
2018 | $3,379 |
Deposits_Summary_of_Deposits_D
Deposits - Summary of Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Non-interest bearing demand | $2,200,081 | $1,738,195 |
Savings and NOW | 5,392,078 | 4,808,121 |
Certificates and other time deposits | 2,606,073 | 2,535,858 |
Total Deposits | $10,198,232 | $9,082,174 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Total, time deposits of $100,000 or more | $857,470 | $795,113 |
Deposits_Time_Deposits_by_Rema
Deposits - Time Deposits by Remaining Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Time Deposits [Line Items] | ' | ' |
Three months or less | $127,595 | ' |
Three to six months | 130,171 | ' |
Six to twelve months | 216,124 | ' |
Over twelve months | 383,580 | ' |
Total, time deposits of $100,000 or more | 857,470 | 795,113 |
Certificates of Deposit [Member] | ' | ' |
Time Deposits [Line Items] | ' | ' |
Three months or less | 117,298 | ' |
Three to six months | 121,512 | ' |
Six to twelve months | 190,656 | ' |
Over twelve months | 258,989 | ' |
Total, time deposits of $100,000 or more | 688,455 | ' |
Other Time Deposits [Member] | ' | ' |
Time Deposits [Line Items] | ' | ' |
Three months or less | 10,297 | ' |
Three to six months | 8,659 | ' |
Six to twelve months | 25,468 | ' |
Over twelve months | 124,591 | ' |
Total, time deposits of $100,000 or more | $169,015 | ' |
Deposits_Summary_of_Scheduled_
Deposits - Summary of Scheduled Maturities of Certificates and Other Time Deposits (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Time Deposits Noncurrent By Maturity [Abstract] | ' |
2014 | $1,499,828 |
2015 | 485,809 |
2016 | 279,663 |
2017 | 211,214 |
2018 | 93,915 |
Later years | $35,644 |
ShortTerm_Borrowings_Summary_o
Short-Term Borrowings - Summary of Short-Term Borrowings (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Securities sold under repurchase agreements | $841,741 | $807,820 |
Federal funds purchased | 270,000 | 140,000 |
Subordinated notes | 129,498 | 135,318 |
Short-term borrowings | $1,241,239 | $1,083,138 |
ShortTerm_Borrowings_Additiona
Short-Term Borrowings - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Debt Disclosure [Abstract] | ' | ' | ' |
Weighted average interest rates on short-term borrowings during year | 0.43% | 0.53% | 0.84% |
Weighted average interest rates on short-term borrowings at period end | 0.41% | 0.47% | 0.71% |
LongTerm_Debt_Summary_of_LongT
Long-Term Debt - Summary of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Federal Home Loan Bank advances | $50,076 | $88 |
Subordinated notes | 84,637 | 79,897 |
Other subordinated debt | 8,637 | 8,850 |
Convertible subordinated notes | 578 | 590 |
Long-term debt | $143,928 | $89,425 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Debt Disclosure [Line Items] | ' | ' | ' |
Credit available with FHLB | $3,349,926 | ' | ' |
Credit with FHLB used | 50,076 | 88 | ' |
Federal Home Loan Bank advances are scheduled to mature periodically through the year | '2019 | ' | ' |
Effective interest rates, minimum | 1.06% | 3.78% | ' |
Effective interest rates, maximum | 4.19% | 4.19% | ' |
Weighted average interest rate on long-term subordinated debt | 2.77% | 3.18% | 3.85% |
Notice required of holders prior to redemption | '30 days | ' | ' |
Assumed other subordinated notes in conjunction with an acquisition | 8,000 | ' | ' |
Amortizing adjustment over the life of the notes | $1,275 | ' | ' |
Subordinated notes, fixed-rate | 8.00% | ' | ' |
Percentage, redemption price must equal plus principal | 100.00% | ' | ' |
Assumed interest rate on convertible subordinated notes | 5.00% | ' | ' |
Conversion price per share | $12.50 | ' | ' |
Common stock reserved for issuance in convertible subordinated notes | 46,200 | ' | ' |
Minimum [Member] | ' | ' | ' |
Debt Disclosure [Line Items] | ' | ' | ' |
Months prior to maturity, interest discount | '3 months | ' | ' |
Maximum [Member] | ' | ' | ' |
Debt Disclosure [Line Items] | ' | ' | ' |
Months prior to maturity, interest discount | '12 months | ' | ' |
Other Subordinated Notes [Member] | ' | ' | ' |
Debt Disclosure [Line Items] | ' | ' | ' |
Subordinated notes maturity (year) | '2016 | ' | ' |
Convertible Subordinated Notes [Member] | ' | ' | ' |
Debt Disclosure [Line Items] | ' | ' | ' |
Subordinated notes maturity (year) | '2018 | ' | ' |
LongTerm_Debt_Scheduled_Annual
Long-Term Debt - Scheduled Annual Maturities of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $28,546 |
2015 | 23,023 |
2016 | 75,409 |
2017 | 10,445 |
2018 | 3,077 |
Later years | $3,428 |
Junior_Subordinated_Debt_Addit
Junior Subordinated Debt - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 |
Trust | Trust | |||
Debt Disclosure [Abstract] | ' | ' | ' | ' |
Number of unconsolidated subsidiary trusts | ' | 3 | ' | 3 |
Percent of the common equity of each Trust owned by the Corporation | ' | 100.00% | ' | 100.00% |
Increased total assets | ' | $15,000,000 | ' | $15,000,000 |
Amount of TPS repurchased | 15,000 | ' | 15,000 | 15,000 |
Redeemed value of TPS | ' | -115,000 | ' | -134,021 |
Debt extinguishment of TPS | ' | $130,000 | ' | ' |
Junior_Subordinated_Debt_Junio
Junior Subordinated Debt - Junior Subordinated Debt Trusts (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | F.N.B. Statutory Trust II [Member] | Omega Financial Capital Trust I [Member] | Sun Bancorp Statutory Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ' | ' | ' | ' | ' |
Trust Preferred Securities | $74,000 | ' | $21,500 | $36,000 | $16,500 |
Common Securities | 2,290 | ' | 665 | 1,114 | 511 |
Junior subordinated debt | $75,205 | $204,019 | $22,165 | $36,029 | $17,011 |
Stated Maturity Date | ' | ' | 15-Jun-36 | 18-Oct-34 | 22-Feb-31 |
Interest Rate | ' | ' | 1.89% | 2.44% | 10.20% |
Description of variable rate | ' | ' | 'Variable;LIBOR + 165 basis points (bps) | 'Variable;LIBOR + 219 bps | 'Fixed |
Basis points | ' | ' | 1.65% | 2.19% | ' |
Derivative_Instruments_Additio
Derivative Instruments - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Agreement | |
Derivative [Line Items] | ' | ' |
Number of separate interest rate derivative agreements | 4 | ' |
Notional amount of swaps | $828,576 | ' |
Fair value of derivatives, in a net liability position | 38,239 | 59,341 |
Collateral with derivative counterparties, fair value | 37,427 | 60,062 |
Cash collateral posted | 1,976 | ' |
Additional amount in excess of posted collateral required in case of breached agreements | 2,224 | 2,428 |
Swap [Member] | Short [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Number of swaps | 312 | ' |
Swap [Member] | Long [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Number of swaps | 278 | ' |
Notional amount of swaps | $1,028,576 | ' |
Derivative_Instruments_Offsett
Derivative Instruments - Offsetting of Derivative Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | $33,317 | $58,008 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | ' | ' |
Net Amount Presented in the Balance Sheet | 33,317 | 58,008 |
Gross Amount | 43,369 | 58,150 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | ' | ' |
Net Amount Presented in the Balance Sheet | 43,369 | 58,150 |
Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 3,579 | ' |
Derivative Assets Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 3,547 | ' |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | ' | ' |
Net Amount Presented in the Balance Sheet | 3,547 | ' |
Derivative Assets Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 32 | 16 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | ' | ' |
Net Amount Presented in the Balance Sheet | 32 | 16 |
Derivative Assets Not Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 29,738 | 57,992 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | ' | ' |
Net Amount Presented in the Balance Sheet | 29,738 | 57,992 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 40,323 | 58,134 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 40,323 | 58,134 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | ' | ' |
Net Amount Presented in the Balance Sheet | 40,323 | 58,134 |
Derivative Liabilities Not Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 3,014 | ' |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | ' | ' |
Net Amount Presented in the Balance Sheet | 3,014 | ' |
Derivative Liabilities Not Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 32 | 16 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | ' | ' |
Net Amount Presented in the Balance Sheet | $32 | $16 |
Derivative_Instruments_Derivat
Derivative Instruments - Derivative Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | $33,317 | $58,008 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 53 | ' |
Net Amount, Derivative Assets | 82 | ' |
Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 3,579 | ' |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 3,444 | ' |
Counterparty B [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | ' | ' |
Net Amount, Derivative Assets | ' | ' |
Counterparty B [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 24 | ' |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 24 | ' |
Counterparty D [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | ' | ' |
Net Amount, Derivative Assets | ' | ' |
Counterparty D [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 566 | ' |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 566 | ' |
Counterparty E [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | ' | ' |
Net Amount, Derivative Assets | ' | 16 |
Counterparty E [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 1,696 | 16 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 1,696 | ' |
Counterparty F [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | ' | ' |
Net Amount, Derivative Assets | 82 | ' |
Counterparty F [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 355 | ' |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 273 | ' |
Counterparty G [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | ' | ' |
Net Amount, Derivative Assets | ' | ' |
Counterparty G [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 251 | ' |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 251 | ' |
Counterparty I [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | ' | ' |
Net Amount, Derivative Assets | ' | ' |
Counterparty I [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 634 | ' |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 634 | ' |
Counterparty J [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 53 | ' |
Net Amount, Derivative Assets | ' | ' |
Counterparty J [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 53 | ' |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | ' | ' |
Derivative_Instruments_Derivat1
Derivative Instruments - Derivative Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | $43,369 | $58,150 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 40,323 | 58,134 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 36,581 | 55,901 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 1,610 | ' |
Net Amount, Derivative Liabilities | 2,132 | 2,233 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty A [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 4,934 | 8,393 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 4,934 | 8,393 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty B [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 3,249 | 5,601 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 3,249 | 5,601 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty C [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 1,431 | 2,145 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 1,431 | 2,145 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty D [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 9,614 | 12,354 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 9,614 | 12,354 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty E [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 6,257 | 8,846 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 6,257 | 8,846 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty F [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 13 | 353 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 13 | 282 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | 71 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty G [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 5,309 | 5,497 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 5,309 | 5,497 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty H [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 2,257 | 3,937 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 125 | 1,775 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | 2,132 | 2,162 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty I [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 5,649 | 11,008 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 5,649 | 11,008 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty J [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 1,610 | ' |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | ' | ' |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 1,610 | ' |
Net Amount, Derivative Liabilities | ' | ' |
Derivative_Instruments_Effect_
Derivative Instruments - Effect of Corporation's Derivative Financial Instruments on Income Statement (Detail) (Interest Rate Contracts [Member], Other Income [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Rate Contracts [Member] | Other Income [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Interest Rate Products | ($39) | $167 | ($635) |
Commitments_Credit_Risk_and_Co2
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments to Extend Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Extended credit and standby letters of credit | $2,897,748 | $2,600,355 |
Standby Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Extended credit and standby letters of credit | $114,298 | $130,912 |
Commitments_Credit_Risk_and_Co3
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Dec. 31, 2013 |
Commitments And Contingencies Disclosure [Abstract] | ' |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 81.30% |
Stock_Incentive_Plans_Addition
Stock Incentive Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 16, 2009 | Dec. 31, 2013 | Jan. 02, 2012 | Dec. 31, 2013 | Apr. 06, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 06, 2013 | Dec. 31, 2013 |
Parkvale Financial Corporation [Member] | Parkvale Financial Corporation [Member] | Annapolis Bancorp, Inc. [Member] | Annapolis Bancorp, Inc. [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Service-Based Awards [Member] | Performance-Based Awards [Member] | Discretionary Service-Based Awards [Member] | Warrant Expires In 2019 [Member] | Warrant Expires In 2019 [Member] | Warrant Expires in 2018 [Member] | |||||
Annapolis Bancorp, Inc. [Member] | Parkvale Financial Corporation [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock awards issued | 361,664 | 321,295 | 407,980 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate, weighted average grant date fair value | $4,016 | $3,884 | $4,110 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares available under Incentive Compensation Plans | 2,716,902 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period of awards expensed, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | '3 years | '4 years | '5 years | ' | ' | ' |
Share-based compensation expense related to restricted stock awards | ' | ' | ' | ' | ' | ' | ' | ' | $5,063 | $3,758 | $4,396 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit related to restricted stock awards | ' | ' | ' | ' | ' | ' | ' | ' | 1,772 | 1,315 | 1,538 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of awards vested | ' | ' | ' | ' | ' | ' | ' | ' | 8,259 | 2,193 | 1,767 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost related to unvested restricted stock awards | 4,891 | ' | ' | ' | ' | ' | ' | ' | 4,891 | ' | ' | ' | ' | ' | 1,671 | 3,220 | ' | ' | ' | ' |
Amount subject to accelerated vesting under Incentive Compensation Plan | ' | ' | ' | ' | ' | ' | ' | ' | 71 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised | 69,429 | 182,188 | 8,389 | ' | ' | ' | ' | ' | ' | ' | ' | 69,429 | 182,188 | 8,389 | ' | ' | ' | ' | ' | ' |
Stock options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of outstanding and exercisable stock options | $559 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum common shares available for purchase under warrants | 1,302,083 | ' | ' | 651,042 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant issued, exercise price | ' | ' | ' | ' | ' | 5.81 | ' | 3.57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.52 | 3.57 | 5.81 |
Warrant issued | ' | ' | ' | ' | 819,640 | ' | 342,564 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Incentive_Plans_Summary_
Stock Incentive Plans - Summary of Information Concerning Restricted Stock Awards (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Awards, Unvested shares outstanding at beginning of year | 1,913,073 | 1,846,115 | 1,309,489 |
Awards, Granted | 361,664 | 321,295 | 407,980 |
Awards, Net adjustment due to performance | 165,545 | 28,181 | 229,516 |
Awards, Vested | -734,129 | -179,767 | -172,029 |
Awards, Forfeited | -37,828 | -179,132 | -1,749 |
Awards, Dividend reinvestment | 60,708 | 76,381 | 72,908 |
Awards, Unvested shares outstanding at end of year | 1,729,033 | 1,913,073 | 1,846,115 |
Weighted Average Grant Price per Share, Unvested shares outstanding at beginning of year | $9.17 | $8.44 | $8.52 |
Weighted Average Grant Price per Share, Granted | $11.10 | $12.09 | $10.07 |
Weighted Average Grant Price per Share, Net adjustment due to performance | $9.60 | $8.31 | $8.40 |
Weighted Average Grant Price per Share, Vested | $7.90 | $8.24 | $13.57 |
Weighted Average Grant Price per Share, Forfeited | $10.42 | $8.50 | $10.09 |
Weighted Average Grant Price per Share, Dividend reinvestment | $11.82 | $11.19 | $10.01 |
Weighted Average Grant Price per Share, Unvested shares outstanding at end of year | $10.23 | $9.17 | $8.44 |
Stock_Incentive_Plans_Componen
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 02, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unvested shares | 1,729,033 | 1,913,073 | 1,846,115 | 1,309,489 |
Unrecognized compensation expense | $4,891 | ' | ' | ' |
Intrinsic value | 21,821 | ' | ' | ' |
Weighted average remaining life (in years) | '2 years 2 months 12 days | ' | ' | ' |
Service-Based Awards [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unvested shares | 446,239 | ' | ' | ' |
Unrecognized compensation expense | 1,671 | ' | ' | ' |
Intrinsic value | 5,632 | ' | ' | ' |
Weighted average remaining life (in years) | '2 years 1 month 28 days | ' | ' | ' |
Performance-Based Awards [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unvested shares | 1,282,794 | ' | ' | ' |
Unrecognized compensation expense | 3,220 | ' | ' | ' |
Intrinsic value | $16,189 | ' | ' | ' |
Weighted average remaining life (in years) | '2 years 2 months 19 days | ' | ' | ' |
Stock_Incentive_Plans_Summary_1
Stock Incentive Plans - Summary of Information Concerning Stock Option Awards (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Weighted Average Price per Share, Options outstanding at beginning of year | $13.21 | $14.93 | $14.28 |
Weighted Average Price per Share, Assumed from acquisition | $11.16 | $10.41 | ' |
Weighted Average Price per Share, Exercised | $7.46 | $8.87 | $2.68 |
Weighted Average Price per Share, Forfeited | $15.58 | $13.32 | $12.67 |
Weighted Average Price per Share, Options outstanding and exercisable at end of year | $11.51 | $13.21 | $14.93 |
Shares, Options outstanding at beginning of year | 640,050 | 586,020 | 770,610 |
Shares, Assumed from acquisition | 274,964 | 627,808 | ' |
Shares, Exercised | -69,429 | -182,188 | -8,389 |
Shares, Forfeited | -312,061 | -391,590 | -176,201 |
Shares, Options outstanding and exercisable at end of year | 533,524 | 640,050 | 586,020 |
Stock_Incentive_Plans_Summary_2
Stock Incentive Plans - Summary of Stock Options Outstanding (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding and Exercisable | 533,524 |
$3.45 - $5.18 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding and Exercisable | 57,517 |
Range of Exercise Prices, Minimum | $3.45 |
Range of Exercise Prices, Maximum | $5.18 |
Weighted Average Exercise Price | $4.32 |
Weighted Average Remaining Contractual Years | '5 years 3 months 29 days |
$5.19 - $7.78 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding and Exercisable | 159,503 |
Range of Exercise Prices, Minimum | $5.19 |
Range of Exercise Prices, Maximum | $7.78 |
Weighted Average Exercise Price | $6.14 |
Weighted Average Remaining Contractual Years | '5 years 2 months 16 days |
$7.79 - $11.68 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Prices, Minimum | $7.79 |
Range of Exercise Prices, Maximum | $11.68 |
Weighted Average Remaining Contractual Years | '0 years |
$11.69 - $17.54 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding and Exercisable | 259,927 |
Range of Exercise Prices, Minimum | $11.69 |
Range of Exercise Prices, Maximum | $17.54 |
Weighted Average Exercise Price | $12.67 |
Weighted Average Remaining Contractual Years | '3 years 1 month 10 days |
$17.55 - $26.32 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding and Exercisable | 16,375 |
Range of Exercise Prices, Minimum | $17.55 |
Range of Exercise Prices, Maximum | $26.32 |
Weighted Average Exercise Price | $18.51 |
Weighted Average Remaining Contractual Years | '0 years |
$26.33 - $36.42 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding and Exercisable | 40,202 |
Range of Exercise Prices, Minimum | $26.33 |
Range of Exercise Prices, Maximum | $36.42 |
Weighted Average Exercise Price | $32.81 |
Weighted Average Remaining Contractual Years | '9 months 15 days |
Stock_Incentive_Plans_Summary_3
Stock Incentive Plans - Summary of Stock Options Exercised (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Proceeds from stock options exercised | $365 | $864 | $22 |
Tax benefit recognized from stock options exercised | 79 | 96 | 22 |
Intrinsic value of stock options exercised | $318 | $435 | $63 |
Retirement_Plans_Additional_In
Retirement Plans - Additional Information (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2008 |
RetirementPlans | ||||
Retirement Plans [Line Items] | ' | ' | ' | ' |
Number of supplemental non-qualified retirement plans sponsored by the Corporation | 2 | ' | ' | ' |
Consecutive calendar years used to calculate BRP benefits | ' | ' | ' | '5 years |
Term of employment for consideration of BRP | ' | ' | ' | '10 years |
Annuity equivalent of contribution to defined contribution plan deducted from monthly benefit of basic retirement plan | 3.00% | ' | ' | ' |
Benefits paid | $6,534 | $7,139 | ' | ' |
Employer contributions to the qualified pension plans | 15,000 | 5,000 | ' | ' |
Percent of employer match | 100.00% | ' | ' | ' |
Employee contribution percentage | 4.00% | ' | ' | ' |
Additional automatic contribution increase, percentage | 3.00% | ' | ' | ' |
Additional discretionary contribution, performance goals, percentage | 2.00% | ' | ' | ' |
Contribution expense of the Corporation | 9,300 | 8,860 | 8,445 | ' |
Common stock, value | 1,592 | 1,398 | ' | ' |
Dividends received on common stock | 264 | 264 | ' | ' |
Equity securities [Member] | ' | ' | ' | ' |
Retirement Plans [Line Items] | ' | ' | ' | ' |
Common stock, shares | 550,128 | 550,128 | ' | ' |
Common stock, value | 6,943 | 5,842 | ' | ' |
Percentage of common stock on total plan assets | 5.00% | 5.20% | ' | ' |
Qualified Pension Plans [Member] | ' | ' | ' | ' |
Retirement Plans [Line Items] | ' | ' | ' | ' |
Benefits paid | 5,212 | 5,813 | ' | ' |
Non-Qualified Pension Plans [Member] | ' | ' | ' | ' |
Retirement Plans [Line Items] | ' | ' | ' | ' |
Benefits paid | $1,322 | $1,326 | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Retirement Plans [Line Items] | ' | ' | ' | ' |
Percentage Of Non Callable Corporate Bonds | 10.00% | 10.00% | ' | ' |
Minimum [Member] | ' | ' | ' | ' |
Retirement Plans [Line Items] | ' | ' | ' | ' |
Percentage Of Non Callable Corporate Bonds | 10.00% | 10.00% | ' | ' |
Retirement_Plans_Schedule_of_A
Retirement Plans - Schedule of Accumulated Benefit Obligation, Change in Benefit Obligation, Change in Plan Assets, Plans' Funded Status and Amount Included in Consolidated Balance Sheet (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation And Retirement Disclosure [Abstract] | ' | ' | ' |
Accumulated benefit obligation | $139,483 | $153,606 | ' |
Projected benefit obligation at beginning of year | 153,958 | 143,307 | ' |
Service cost | 65 | 59 | 58 |
Interest cost | 5,728 | 6,173 | 6,746 |
Actuarial (gain) loss | -13,486 | 11,558 | ' |
Benefits paid | -6,534 | -7,139 | ' |
Projected benefit obligation at end of year | 139,731 | 153,958 | 143,307 |
Fair value of plan assets at beginning of year | 113,416 | 105,330 | ' |
Actual return on plan assets | 16,534 | 8,899 | ' |
Corporation contribution | 16,321 | 6,326 | ' |
Benefits paid | -6,534 | -7,139 | ' |
Fair value of plan assets at end of year | 139,737 | 113,416 | 105,330 |
Funded status of plans | $6 | ($40,542) | ' |
Retirement_Plans_Schedule_of_A1
Retirement Plans - Schedule of Actuarial Assumptions Used in Determination of Projected Benefit Obligation (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule Of Sale Of Subsidiary [Abstract] | ' | ' |
Weighted average discount rate | 4.68% | 3.78% |
Rates of average increase in compensation levels | 4.00% | 4.00% |
Retirement_Plans_Schedule_of_N
Retirement Plans -Schedule of Net Periodic Pension Cost and Other Comprehensive Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation And Retirement Disclosure [Abstract] | ' | ' | ' |
Service cost | $65 | $59 | $58 |
Interest cost | 5,728 | 6,173 | 6,746 |
Expected return on plan assets | -9,081 | -7,935 | -7,647 |
Transition amount amortization | -93 | -93 | -93 |
Prior service credit amortization | 7 | 7 | 7 |
Actuarial loss amortization | 2,263 | 1,861 | 1,131 |
Net periodic pension cost (gain) | -1,111 | 72 | 202 |
Current year actuarial (gain) loss | -20,938 | 10,594 | 19,097 |
Amortization of actuarial loss | -2,263 | -1,861 | -1,131 |
Amortization of prior service credit | -7 | -7 | -7 |
Amortization of transition asset | 93 | 93 | 93 |
Total recognized in other comprehensive income | -23,115 | 8,819 | 18,052 |
Total recognized in net periodic pension cost (gain) and other comprehensive income | ($24,226) | $8,891 | $18,254 |
Retirement_Plans_Schedule_of_A2
Retirement Plans - Schedule of Actuarial Assumptions Used in Determination of Net Periodic Pension Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Compensation And Retirement Disclosure [Abstract] | ' | ' | ' |
Weighted average discount rate | 3.78% | 4.39% | 5.28% |
Rates of increase in compensation levels | 4.00% | 4.00% | 4.00% |
Expected long-term rate of return on assets | 7.25% | 7.50% | 7.50% |
Retirement_Plans_Schedule_of_P
Retirement Plans - Schedule of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Qualified and Non-Qualified Pension Plans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | $139,731 | $153,958 | $143,307 |
Accumulated benefit obligation | 139,483 | 153,606 | ' |
Fair value of plan assets | 139,737 | 113,416 | 105,330 |
Qualified Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | 120,512 | 133,116 | ' |
Accumulated benefit obligation | 120,512 | 133,116 | ' |
Fair value of plan assets | 139,737 | 113,416 | ' |
Non-Qualified Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | 19,219 | 20,842 | ' |
Accumulated benefit obligation | 18,971 | 20,490 | ' |
Fair value of plan assets | ' | ' | ' |
Retirement_Plans_Schedule_of_I
Retirement Plans - Schedule of Impact of Changes in Discount Rate, Return on Plan Assets and Compensation Levels on Pension Expense (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Compensation And Retirement Disclosure [Abstract] | ' |
0.5% decrease in the discount rate, Estimated Increase in Pension Expense | ($35) |
0.5% decrease in the expected long-term rate of return on plan assets, Estimated Increase in Pension Expense | $626 |
Retirement_Plans_Schedule_of_E
Retirement Plans - Schedule of Estimated Future Cash Flows (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Compensation And Retirement Disclosure [Abstract] | ' |
Expected employer contributions: 2014 | $1,322 |
Expected benefit payments: 2014 | 6,510 |
Expected benefit payments: 2015 | 6,862 |
Expected benefit payments: 2016 | 7,246 |
Expected benefit payments: 2017 | 9,127 |
Expected benefit payments: 2018 | 8,113 |
Expected benefit payments: 2019-2023 | $44,995 |
Retirement_Plans_Schedule_of_A3
Retirement Plans - Schedule of Asset Allocations for Pension Plans (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Equity securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Allocation Range, Minimum | 45.00% | ' |
Target Allocation Range, Maximum | 65.00% | ' |
Percentage of Plan Assets | 57.00% | 57.00% |
Debt securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Allocation Range, Minimum | 30.00% | ' |
Target Allocation Range, Maximum | 50.00% | ' |
Percentage of Plan Assets | 40.00% | 40.00% |
Cash equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Allocation Range, Minimum | 0.00% | ' |
Target Allocation Range, Maximum | 10.00% | ' |
Percentage of Plan Assets | 3.00% | 3.00% |
Retirement_Plans_Schedule_of_F
Retirement Plans - Schedule of Fair Value of Pension Plan Assets by Asset Category (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $139,737 | $113,416 | $105,330 |
Cash equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,090 | 3,587 | ' |
F.N.B. Corporation [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 6,943 | 5,842 | ' |
Other Large-Cap U.S. Financial Services Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,354 | 1,563 | ' |
Other Large-Cap U.S. Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 34,345 | 27,709 | ' |
International Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 555 | 624 | ' |
Non-U.S. Equities Growth Fund [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 10,783 | 8,972 | ' |
Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,469 | 4,280 | ' |
U.S. Government Agencies [Member] | Fixed Income Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 44,653 | 36,030 | ' |
U.S. Investment-Grade Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 10,196 | 8,404 | ' |
Non-U.S. Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 473 | 503 | ' |
U.S. Large-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,543 | 2,129 | ' |
U.S. Small-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,850 | 2,096 | ' |
U.S. Mid-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,911 | 2,928 | ' |
U.S. Mid-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 7,919 | 5,893 | ' |
U.S. Small-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,653 | 2,856 | ' |
Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 95,084 | 77,386 | ' |
Level 1 [Member] | Cash equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,090 | 3,587 | ' |
Level 1 [Member] | F.N.B. Corporation [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 6,943 | 5,842 | ' |
Level 1 [Member] | Other Large-Cap U.S. Financial Services Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,354 | 1,563 | ' |
Level 1 [Member] | Other Large-Cap U.S. Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 34,345 | 27,709 | ' |
Level 1 [Member] | International Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 555 | 624 | ' |
Level 1 [Member] | Non-U.S. Equities Growth Fund [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 10,783 | 8,972 | ' |
Level 1 [Member] | Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,469 | 4,280 | ' |
Level 1 [Member] | U.S. Government Agencies [Member] | Fixed Income Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | U.S. Investment-Grade Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 10,196 | 8,404 | ' |
Level 1 [Member] | Non-U.S. Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 473 | 503 | ' |
Level 1 [Member] | U.S. Large-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,543 | 2,129 | ' |
Level 1 [Member] | U.S. Small-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,850 | 2,096 | ' |
Level 1 [Member] | U.S. Mid-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,911 | 2,928 | ' |
Level 1 [Member] | U.S. Mid-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 7,919 | 5,893 | ' |
Level 1 [Member] | U.S. Small-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,653 | 2,856 | ' |
Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 44,653 | 36,030 | ' |
Level 2 [Member] | Cash equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | F.N.B. Corporation [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Other Large-Cap U.S. Financial Services Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Other Large-Cap U.S. Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | International Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Non-U.S. Equities Growth Fund [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U.S. Government Agencies [Member] | Fixed Income Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 44,653 | 36,030 | ' |
Level 2 [Member] | U.S. Investment-Grade Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Non-U.S. Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U.S. Large-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U.S. Small-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U.S. Mid-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U.S. Mid-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U.S. Small-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Cash equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | F.N.B. Corporation [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Other Large-Cap U.S. Financial Services Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Other Large-Cap U.S. Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | International Companies [Member] | Equity securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Non-U.S. Equities Growth Fund [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U.S. Government Agencies [Member] | Fixed Income Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U.S. Investment-Grade Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Non-U.S. Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U.S. Large-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U.S. Small-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U.S. Mid-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U.S. Mid-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U.S. Small-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Income_Taxes_Summary_of_Income
Income Taxes - Summary of Income Tax Expense Allocated Based on Separate Tax Return Basis (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current income taxes: Federal taxes | $33,614 | $22,182 | $18,721 |
Current income taxes: State taxes | -116 | 416 | 354 |
Current income taxes | 33,498 | 22,598 | 19,075 |
Deferred income taxes: Federal taxes | 11,258 | 21,175 | 12,929 |
Deferred income taxes: State taxes | ' | ' | ' |
Deferred income taxes | 11,258 | 21,175 | 12,929 |
Income taxes | $44,756 | $43,773 | $32,004 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Contingency [Line Items] | ' | ' | ' |
Income tax expense related to gains on the sale of securities | $283 | $107 | $1,278 |
Expiration of an uncertain tax position impacting income tax expense and the effective tax rate | 359 | ' | ' |
Unrecognized tax benefits | 660 | 1,088 | 1,376 |
Unrecognized tax benefits relating to accrued interest, net of related federal tax benefits | 69 | 150 | ' |
Unrecognized tax benefits which affect the effective tax rate if recognized | 498 | ' | ' |
Reduction in the unrecognized tax benefit due to statutes of limitations for next twelve months | $408 | ' | ' |
Minimum [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Expiration of unused state net operating loss carryforwards | '2018 | ' | ' |
Maximum [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Expiration of unused state net operating loss carryforwards | '2032 | ' | ' |
Income_Taxes_Summary_of_Reconc
Income Taxes - Summary of Reconciliation Between the Statutory Tax Rate and Actual Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Statutory tax rate | 35.00% | 35.00% | 35.00% |
Effect of tax-free interest and dividend income | -4.30% | -4.70% | -5.90% |
Tax credits and settlements | -2.40% | -1.80% | -1.90% |
Life insurance | -0.40% | ' | ' |
Other items | -0.40% | -0.10% | -0.30% |
Actual effective tax rate | 27.50% | 28.40% | 26.90% |
Income_Taxes_Summary_of_Deferr
Income Taxes - Summary of Deferred Tax Assets and Liabilities from Tax Effects of Temporary Differences (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Allowance for loan losses | $39,292 | $36,714 |
Discount on purchased loans | 41,012 | 24,339 |
Net operating loss/tax credit carryforwards | 17,052 | 15,196 |
Deferred compensation | 8,208 | 7,429 |
Securities impairments | 20,371 | 19,999 |
Pension and other defined benefit plans | 2,190 | 16,335 |
Net unrealized securities losses | 13,295 | ' |
Other | 3,567 | 4,268 |
Total | 144,987 | 124,280 |
Valuation allowance | -15,611 | -16,329 |
Total deferred tax assets | 129,376 | 107,951 |
Loan costs | -931 | -287 |
Depreciation | -9,819 | -9,794 |
Prepaid expenses | -1,261 | -1,083 |
Amortizable intangibles | -11,346 | -8,200 |
Lease financing | -6,290 | -4,915 |
Debt discharge income deferral | -3,402 | ' |
Originated mortgage servicing rights | -2,721 | ' |
Other | -1,214 | -1,089 |
Total deferred tax liabilities | -36,984 | -25,368 |
Net deferred tax assets | $92,392 | $82,583 |
Income_Taxes_Summary_of_Reconc1
Income Taxes - Summary of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Balance at beginning of year | $1,088 | $1,376 |
Additions based on tax positions related to current year | 74 | 87 |
Additions based on tax positions of prior year | ' | ' |
Reductions for tax positions of prior years | ' | ' |
Reductions due to expiration of statute of limitations | -502 | -375 |
Balance at end of year | $660 | $1,088 |
Comprehensive_Income_Changes_i
Comprehensive Income - Changes in Accumulated Other Comprehensive Income, Net of Tax, by Component (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] | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | ($46,224) | ' | ' |
Other comprehensive income (loss) before reclassifications | -10,200 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | -500 | ' | ' |
Net current period other comprehensive income (loss) | -10,700 | -1,076 | -11,416 |
Accumulated other comprehensive income (loss), balance at end of period | -56,924 | -46,224 | ' |
Unrealized Net Gains (Losses) on Securities Available for Sale [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | 9,269 | ' | ' |
Other comprehensive income (loss) before reclassifications | -20,643 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | -500 | ' | ' |
Net current period other comprehensive income (loss) | -21,143 | ' | ' |
Accumulated other comprehensive income (loss), balance at end of period | -11,874 | ' | ' |
Non-Credit Related Loss on Debt Securities not Expected to be Sold [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | -8,039 | ' | ' |
Other comprehensive income (loss) before reclassifications | 1,847 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | ' |
Net current period other comprehensive income (loss) | 1,847 | ' | ' |
Accumulated other comprehensive income (loss), balance at end of period | -6,192 | ' | ' |
Unrealized Losses on Derivative Instruments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | -171 | ' | ' |
Other comprehensive income (loss) before reclassifications | -6,415 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | ' |
Net current period other comprehensive income (loss) | -6,415 | ' | ' |
Accumulated other comprehensive income (loss), balance at end of period | -6,586 | ' | ' |
Unrecognized Pension and Postretirement Obligations [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | -47,283 | ' | ' |
Other comprehensive income (loss) before reclassifications | 15,011 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | ' |
Net current period other comprehensive income (loss) | 15,011 | ' | ' |
Accumulated other comprehensive income (loss), balance at end of period | ($32,272) | ' | ' |
Comprehensive_Income_Summary_o
Comprehensive Income - Summary of Reclassifications Out of Accumulated Other Comprehensive Income (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] | ' | ' | ' |
Net securities gains | $808 | $305 | $3,652 |
Tax (expense) benefit | 44,756 | 43,773 | 32,004 |
Net Income | 117,804 | 110,410 | 87,047 |
Amount Reclassified from Other Comprehensive Income [Member] | Unrealized Net Gains (Losses) on Securities Available for Sale [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Net securities gains | -767 | ' | ' |
Tax (expense) benefit | -267 | ' | ' |
Net Income | ($500) | ' | ' |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Net income available to common stockholders | $117,804 | $110,410 | $87,047 |
Basic weighted average common shares outstanding | 146,186,982 | 139,135,272 | 124,145,924 |
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,622,522 | 1,504,893 | 866,154 |
Diluted weighted average common shares outstanding | 147,809,504 | 140,640,165 | 125,012,078 |
Basic earnings per common share | $0.81 | $0.79 | $0.70 |
Diluted earnings per common share | $0.80 | $0.79 | $0.70 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Common stock excluded from computation of diluted earnings per share | 49,995 | 172,709 | 392,299 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 0 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Nov. 14, 2013 | Nov. 01, 2013 |
Stockholders' Equity [Line Items] | ' | ' |
Public offering, common stock | ' | 4,693,876 |
Common stock per share price | ' | $12.25 |
Net proceeds from stock offerings | $161,316 | ' |
Series E [Member] | ' | ' |
Stockholders' Equity [Line Items] | ' | ' |
Public offering, depositary shares | ' | 4,000,000 |
Depositary shares, price per share | ' | $25 |
Common Stock Over-Allotment Option [Member] | ' | ' |
Stockholders' Equity [Line Items] | ' | ' |
Public offering, common stock | ' | 612,244 |
Preferred Stock Over-Allotment Option [Member] | ' | ' |
Stockholders' Equity [Line Items] | ' | ' |
Public offering, depositary shares | 435,080 | ' |
Regulatory_Matters_Additional_
Regulatory Matters - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Repurchased of debt | $15,000 | ' | $15,000 | $15,000 |
Redemption in capital TPS | ' | -115,000 | ' | -134,021 |
Trust Preferred Securities | ' | 74,000 | ' | 74,000 |
Aggregate cash reserves with Federal Reserve Bank | ' | 18,679 | ' | 18,679 |
Retained earnings available for distribution | ' | 116,806 | ' | 116,806 |
Loan to non-bank affiliate, maximum percentage | ' | ' | ' | 10.00% |
Aggregate of loan to non-bank affiliate, maximum percentage | ' | ' | ' | 20.00% |
Maximum amount loans that Corporation can borrower under current provisions | ' | $182,499 | ' | $182,499 |
Regulatory_Matters_Schedule_of
Regulatory Matters - Schedule of Capital Ratios (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
F.N.B. Corporation [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total Capital to risk-weighted assets, Actual Amount | $1,258,312 | $1,068,704 |
Tier 1 Capital to risk-weighted assets, Actual Amount | 1,117,956 | 934,443 |
Leverage ratio, Actual Amount | 1,117,956 | 934,443 |
Total Capital to risk-weighted assets, Actual Ratio | 12.50% | 12.20% |
Tier 1 Capital to risk-weighted assets, Actual Ratio | 11.10% | 10.60% |
Leverage ratio, Actual Ratio | 8.80% | 8.30% |
Total Capital to risk-weighted assets, Well-Capitalized Requirements Amount | 1,009,952 | 879,316 |
Tier 1 Capital to risk-weighted assets, Well-Capitalized Requirements Amount | 605,971 | 527,589 |
Leverage ratio, Well-Capitalized Requirements Amount | 634,527 | 563,649 |
Total capital to risk-weighted assets, Well-Capitalized Requirements Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets, Well-Capitalized Requirements Ratio | 6.00% | 6.00% |
Leverage ratio, Well-Capitalized Requirements Ratio | 5.00% | 5.00% |
Total capital to risk-weighted assets, Minimum Capital Requirements Amount | 807,962 | 703,453 |
Tier 1 capital to risk-weighted assets, Minimum Capital Requirements Amount | 403,981 | 351,726 |
Leverage ratio, Minimum Capital Requirements Amount | 507,622 | 450,919 |
Total capital to risk-weighted assets, Minimum Capital Requirements Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets, Minimum Capital Requirements Ratio | 4.00% | 4.00% |
Leverage ratio, Minimum Capital Requirements Ratio | 4.00% | 4.00% |
FNBPA [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total Capital to risk-weighted assets, Actual Amount | 1,144,510 | 999,717 |
Tier 1 Capital to risk-weighted assets, Actual Amount | 1,035,659 | 895,177 |
Leverage ratio, Actual Amount | 1,035,659 | 895,177 |
Total Capital to risk-weighted assets, Actual Ratio | 11.50% | 11.60% |
Tier 1 Capital to risk-weighted assets, Actual Ratio | 10.40% | 10.40% |
Leverage ratio, Actual Ratio | 8.30% | 8.10% |
Total Capital to risk-weighted assets, Well-Capitalized Requirements Amount | 995,524 | 859,468 |
Tier 1 Capital to risk-weighted assets, Well-Capitalized Requirements Amount | 597,314 | 515,681 |
Leverage ratio, Well-Capitalized Requirements Amount | 623,921 | 555,360 |
Total capital to risk-weighted assets, Well-Capitalized Requirements Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets, Well-Capitalized Requirements Ratio | 6.00% | 6.00% |
Leverage ratio, Well-Capitalized Requirements Ratio | 5.00% | 5.00% |
Total capital to risk-weighted assets, Minimum Capital Requirements Amount | 796,419 | 687,574 |
Tier 1 capital to risk-weighted assets, Minimum Capital Requirements Amount | 398,210 | 343,787 |
Leverage ratio, Minimum Capital Requirements Amount | $499,137 | $444,288 |
Total capital to risk-weighted assets, Minimum Capital Requirements Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets, Minimum Capital Requirements Ratio | 4.00% | 4.00% |
Leverage ratio, Minimum Capital Requirements Ratio | 4.00% | 4.00% |
Cash_Flow_Information_Summary_
Cash Flow Information - Summary of Cash Flow Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Cash Flows [Abstract] | ' | ' | ' |
Interest paid on deposits and other borrowings | $46,337 | $56,306 | $75,178 |
Income taxes paid | 34,200 | 22,250 | 13,250 |
Transfers of loans to other real estate owned | 15,836 | 14,102 | 21,679 |
Transfers of other real estate owned to loans | $701 | $839 | $598 |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of reportable segments | 4 |
Business_Segments_Financial_In
Business Segments - Financial Information for Segments of Corporation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Interest income | $440,386 | $431,906 | $391,125 |
Interest expense | 44,344 | 59,055 | 74,617 |
Net interest income | 396,042 | 372,851 | 316,508 |
Provision for loan losses | 31,090 | 31,302 | 33,641 |
Non-interest income | 135,778 | 131,252 | 119,730 |
Non-interest expense | 329,763 | 309,694 | 276,506 |
Intangible amortization | 8,407 | 8,924 | 7,040 |
Income tax expense (benefit) | 44,756 | 43,773 | 32,004 |
Net income (loss) | 117,804 | 110,410 | 87,047 |
Total assets | 13,563,405 | 12,023,976 | 9,786,483 |
Total intangibles | 811,856 | 713,406 | 599,415 |
Operating Segments [Member] | Community Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Interest income | 396,243 | 390,680 | 350,801 |
Interest expense | 32,178 | 45,604 | 60,132 |
Net interest income | 364,065 | 345,076 | 290,669 |
Provision for loan losses | 23,502 | 24,606 | 26,957 |
Non-interest income | 97,156 | 96,853 | 88,172 |
Non-interest expense | 271,657 | 258,063 | 227,696 |
Intangible amortization | 7,697 | 8,184 | 6,279 |
Income tax expense (benefit) | 43,966 | 42,991 | 31,869 |
Net income (loss) | 114,399 | 108,085 | 86,040 |
Total assets | 13,381,047 | 11,845,122 | 9,583,439 |
Total intangibles | 788,513 | 689,354 | 574,622 |
Operating Segments [Member] | Wealth Management [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Interest income | ' | 4 | 11 |
Interest expense | ' | ' | ' |
Net interest income | ' | 4 | 11 |
Provision for loan losses | ' | ' | ' |
Non-interest income | 28,717 | 24,152 | 23,238 |
Non-interest expense | 25,067 | 20,141 | 18,518 |
Intangible amortization | 304 | 320 | 335 |
Income tax expense (benefit) | 1,248 | 1,358 | 1,587 |
Net income (loss) | 2,098 | 2,337 | 2,809 |
Total assets | 20,959 | 19,610 | 19,579 |
Total intangibles | 11,008 | 11,312 | 11,632 |
Operating Segments [Member] | Insurance [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Interest income | 109 | 113 | 124 |
Interest expense | ' | ' | ' |
Net interest income | 109 | 113 | 124 |
Provision for loan losses | ' | ' | ' |
Non-interest income | 13,175 | 13,035 | 12,325 |
Non-interest expense | 11,448 | 11,503 | 11,568 |
Intangible amortization | 406 | 420 | 426 |
Income tax expense (benefit) | 519 | 438 | 169 |
Net income (loss) | 911 | 787 | 286 |
Total assets | 20,214 | 18,675 | 17,301 |
Total intangibles | 10,526 | 10,931 | 11,352 |
Operating Segments [Member] | Consumer Finance [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Interest income | 37,956 | 35,279 | 34,168 |
Interest expense | 3,378 | 3,584 | 4,281 |
Net interest income | 34,578 | 31,695 | 29,887 |
Provision for loan losses | 6,834 | 6,115 | 6,152 |
Non-interest income | 2,794 | 2,343 | 2,132 |
Non-interest expense | 19,052 | 18,410 | 17,210 |
Intangible amortization | ' | ' | ' |
Income tax expense (benefit) | 4,320 | 3,615 | 3,274 |
Net income (loss) | 7,166 | 5,898 | 5,383 |
Total assets | 188,259 | 178,149 | 171,350 |
Total intangibles | 1,809 | 1,809 | 1,809 |
Parent and Other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Interest income | 6,078 | 5,830 | 6,021 |
Interest expense | 8,788 | 9,867 | 10,204 |
Net interest income | -2,710 | -4,037 | -4,183 |
Provision for loan losses | 754 | 581 | 532 |
Non-interest income | -6,064 | -5,131 | -6,137 |
Non-interest expense | 2,539 | 1,577 | 1,514 |
Intangible amortization | ' | ' | ' |
Income tax expense (benefit) | -5,297 | -4,629 | -4,895 |
Net income (loss) | -6,770 | -6,697 | -7,471 |
Total assets | -47,074 | -37,580 | -5,186 |
Total intangibles | ' | ' | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Securities | Securities | |
Fair Value Measurements Disclosure [Line Items] | ' | ' |
Percentage of securities using market-based information | 97.00% | ' |
Percentage of securities using model-based techniques | 3.00% | ' |
Change in discount rate | 1.00% | ' |
One percent change in affecting fair value of debt obligation, amount | $3,000 | ' |
One percent change in affecting fair value of debt obligation, percent | 7.00% | ' |
Minimum corporation reserves for commercial loan | 500 | ' |
Transfer between hierarchy levels | 4 | 0 |
Change in unrealized gains or losses included in earnings relating to assets still held | 78 | ' |
Impaired loans, carrying amount | 3,728 | ' |
Allocated allowance for loan losses | 825 | ' |
Fair value of allocated allowance | 3,294 | ' |
Estimated costs to sell | 391 | ' |
Provision for fair value measurements included in allowance for loan losses | 257 | ' |
Carrying amount of OREO | 20,830 | ' |
Written down of OREO | 17,060 | ' |
Fair value of OREO | 19,442 | 19,311 |
Estimated cost to sell OREO | 2,381 | ' |
Loss from OREO included in earnings | 3,770 | ' |
Short-term borrowings approximate fair value for amounts that mature, days, less than | '90 days | ' |
Assets Still Held [Member] | ' | ' |
Fair Value Measurements Disclosure [Line Items] | ' | ' |
Change in unrealized gains or losses included in earnings relating to assets still held | $27 | $212 |
Minimum [Member] | ' | ' |
Fair Value Measurements Disclosure [Line Items] | ' | ' |
Valuation of investment securities basis spread on index | 4.50% | ' |
Maximum [Member] | ' | ' |
Fair Value Measurements Disclosure [Line Items] | ' | ' |
Valuation of investment securities basis spread on index | 14.00% | ' |
Fair_Value_Measurements_Balanc
Fair Value Measurements - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | $1,139,524 | $1,170,676 | ' |
Assets measured at fair value, Available for sale equity securities | 2,126 | 2,007 | ' |
Assets measured at fair value, Available for sale securities | 1,141,650 | 1,172,683 | 640,571 |
Derivative financial instruments | 33,317 | 58,008 | ' |
Assets measured at fair value, Total | 1,174,967 | 1,230,691 | ' |
Derivative financial instruments | 43,369 | 58,150 | ' |
Liabilities measured at fair value, Total | 43,369 | 58,150 | ' |
U.S. Government-Sponsored Entities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 330,985 | 354,457 | ' |
Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 250,881 | 275,150 | ' |
Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 491,199 | 469,547 | ' |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 1,762 | 2,729 | ' |
States of the U.S. and Political Subdivisions [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 17,002 | 24,824 | ' |
Collateralized Debt Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 31,595 | 22,456 | ' |
Other Debt Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 16,100 | 21,513 | ' |
Financial Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | 2,061 | 1,962 | ' |
Insurance Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | 65 | 45 | ' |
Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | 33,317 | 58,008 | ' |
Not for Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | 33,236 | 58,150 | ' |
Not for Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | 10,133 | ' | ' |
Level 1 [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | 649 | 396 | ' |
Assets measured at fair value, Available for sale securities | 649 | 396 | ' |
Derivative financial instruments | ' | ' | ' |
Assets measured at fair value, Total | 649 | 396 | ' |
Liabilities measured at fair value, Total | ' | ' | ' |
Level 1 [Member] | U.S. Government-Sponsored Entities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 1 [Member] | Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 1 [Member] | Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 1 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 1 [Member] | States of the U.S. and Political Subdivisions [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 1 [Member] | Collateralized Debt Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 1 [Member] | Other Debt Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 1 [Member] | Financial Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | 584 | 351 | ' |
Level 1 [Member] | Insurance Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | 65 | 45 | ' |
Level 1 [Member] | Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 1 [Member] | Not for Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 1 [Member] | Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 1 [Member] | Not for Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 1,106,185 | 1,138,623 | ' |
Assets measured at fair value, Available for sale equity securities | 1,067 | 1,099 | ' |
Assets measured at fair value, Available for sale securities | 1,107,252 | 1,139,722 | ' |
Derivative financial instruments | 33,317 | 58,008 | ' |
Assets measured at fair value, Total | 1,140,569 | 1,197,730 | ' |
Liabilities measured at fair value, Total | 43,369 | 58,150 | ' |
Level 2 [Member] | U.S. Government-Sponsored Entities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 330,985 | 354,457 | ' |
Level 2 [Member] | Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 250,881 | 275,150 | ' |
Level 2 [Member] | Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 491,199 | 469,547 | ' |
Level 2 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 18 | 24 | ' |
Level 2 [Member] | States of the U.S. and Political Subdivisions [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 17,002 | 24,824 | ' |
Level 2 [Member] | Collateralized Debt Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 2 [Member] | Other Debt Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 16,100 | 14,621 | ' |
Level 2 [Member] | Financial Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | 1,067 | 1,099 | ' |
Level 2 [Member] | Insurance Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | ' | ' | ' |
Level 2 [Member] | Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | 33,317 | 58,008 | ' |
Level 2 [Member] | Not for Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 2 [Member] | Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | 33,236 | 58,150 | ' |
Level 2 [Member] | Not for Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | 10,133 | ' | ' |
Level 3 [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 33,339 | 32,053 | ' |
Assets measured at fair value, Available for sale equity securities | 410 | 512 | ' |
Assets measured at fair value, Available for sale securities | 33,749 | 32,565 | ' |
Derivative financial instruments | ' | ' | ' |
Assets measured at fair value, Total | 33,749 | 32,565 | ' |
Liabilities measured at fair value, Total | ' | ' | ' |
Level 3 [Member] | U.S. Government-Sponsored Entities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 3 [Member] | Agency Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 3 [Member] | Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 3 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 1,744 | 2,705 | ' |
Level 3 [Member] | States of the U.S. and Political Subdivisions [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | ' | ' |
Level 3 [Member] | Collateralized Debt Obligations [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | 31,595 | 22,456 | ' |
Level 3 [Member] | Other Debt Securities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale debt securities | ' | 6,892 | ' |
Level 3 [Member] | Financial Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | 410 | 512 | ' |
Level 3 [Member] | Insurance Services Industry [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Assets measured at fair value, Available for sale equity securities | ' | ' | ' |
Level 3 [Member] | Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 3 [Member] | Not for Trading Assets [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 3 [Member] | Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Level 3 [Member] | Not for Trading Liabilities [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' | ' |
Derivative financial instruments | ' | ' | ' |
Fair_Value_Measurements_Additi1
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | $32,565 | $11,603 |
Total gains (losses) - realized/unrealized, Included in earnings | 78 | ' |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 6,705 | 1,802 |
Accretion included in earnings | 3,176 | 2,544 |
Purchases | ' | 21,753 |
Issuances | 38 | 46 |
Sales/redemptions | -1,033 | -2,542 |
Settlements | -1,698 | -2,641 |
Transfers from Level 3 | -6,082 | ' |
Transfers into Level 3 | ' | ' |
Balance at end of period | 33,749 | 32,565 |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | 22,456 | 5,998 |
Total gains (losses) - realized/unrealized, Included in earnings | ' | ' |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 6,701 | 917 |
Accretion included in earnings | 3,160 | 2,515 |
Purchases | ' | 16,569 |
Issuances | 38 | 46 |
Sales/redemptions | ' | -2,542 |
Settlements | -760 | -1,047 |
Transfers from Level 3 | ' | ' |
Transfers into Level 3 | ' | ' |
Balance at end of period | 31,595 | 22,456 |
Other Debt Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | 6,892 | 5,197 |
Total gains (losses) - realized/unrealized, Included in earnings | 78 | ' |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 21 | 732 |
Accretion included in earnings | 4 | 9 |
Purchases | ' | 954 |
Issuances | ' | ' |
Sales/redemptions | -1,033 | ' |
Settlements | ' | ' |
Transfers from Level 3 | -5,962 | ' |
Transfers into Level 3 | ' | ' |
Balance at end of period | ' | 6,892 |
Equity securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | 512 | 408 |
Total gains (losses) - realized/unrealized, Included in earnings | ' | ' |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 18 | 104 |
Accretion included in earnings | ' | ' |
Purchases | ' | ' |
Issuances | ' | ' |
Sales/redemptions | ' | ' |
Settlements | ' | ' |
Transfers from Level 3 | -120 | ' |
Transfers into Level 3 | ' | ' |
Balance at end of period | 410 | 512 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | 2,705 | ' |
Total gains (losses) - realized/unrealized, Included in earnings | ' | ' |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | -35 | 49 |
Accretion included in earnings | 12 | 20 |
Purchases | ' | 4,230 |
Issuances | ' | ' |
Sales/redemptions | ' | ' |
Settlements | -938 | -1,594 |
Transfers from Level 3 | ' | ' |
Transfers into Level 3 | ' | ' |
Balance at end of period | $1,744 | $2,705 |
Fair_Value_Measurements_Additi2
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $3,294 | $17,496 |
Other real estate owned | 19,442 | 19,311 |
Investment security, held-to-maturity: | ' | ' |
Non-agency CMO | ' | 3,636 |
Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | ' | ' |
Other real estate owned | ' | ' |
Investment security, held-to-maturity: | ' | ' |
Non-agency CMO | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 3,235 | 14,325 |
Other real estate owned | 4,485 | 5,771 |
Investment security, held-to-maturity: | ' | ' |
Non-agency CMO | ' | ' |
Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 59 | 3,171 |
Other real estate owned | 14,957 | 13,540 |
Investment security, held-to-maturity: | ' | ' |
Non-agency CMO | ' | $3,636 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 02, 2011 |
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $213,981 | $239,044 | $208,953 | $131,571 |
Securities available for sale | 1,141,650 | 1,172,683 | 640,571 | ' |
Securities held to maturity | 1,199,169 | 1,106,563 | 917,212 | ' |
Net loans, including loans held for sale | 9,402,448 | 8,061,096 | ' | ' |
Bank owned life insurance | 289,402 | 246,088 | ' | ' |
Derivative assets | 33,317 | 58,008 | ' | ' |
Accrued interest receivable | 35,520 | 30,210 | ' | ' |
Deposits | 10,198,232 | 9,082,174 | ' | ' |
Short-term borrowings | 1,241,239 | 1,083,138 | ' | ' |
Long-term debt | 143,928 | 89,425 | ' | ' |
Junior subordinated debt | 75,205 | 204,019 | ' | ' |
Derivative liabilities | 43,369 | 58,150 | ' | ' |
Accrued interest payable | 7,061 | 9,054 | ' | ' |
Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Securities available for sale | 649 | 396 | ' | ' |
Derivative assets | ' | ' | ' | ' |
Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Securities available for sale | 1,107,252 | 1,139,722 | ' | ' |
Derivative assets | 33,317 | 58,008 | ' | ' |
Level 3 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Securities available for sale | 33,749 | 32,565 | ' | ' |
Derivative assets | ' | ' | ' | ' |
Fair Value [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 213,981 | 239,044 | ' | ' |
Securities available for sale | 1,141,650 | 1,172,683 | ' | ' |
Securities held to maturity | 1,189,563 | 1,143,213 | ' | ' |
Net loans, including loans held for sale | 9,243,780 | 7,996,554 | ' | ' |
Bank owned life insurance | 292,694 | 257,060 | ' | ' |
Derivative assets | 33,317 | 58,008 | ' | ' |
Accrued interest receivable | 35,520 | 30,210 | ' | ' |
Deposits | 10,208,268 | 9,117,757 | ' | ' |
Short-term borrowings | 1,241,239 | 1,083,138 | ' | ' |
Long-term debt | 145,995 | 92,329 | ' | ' |
Junior subordinated debt | 70,442 | 172,246 | ' | ' |
Derivative liabilities | 43,369 | 58,150 | ' | ' |
Accrued interest payable | 7,061 | 9,054 | ' | ' |
Fair Value [Member] | Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 213,981 | 239,044 | ' | ' |
Securities available for sale | 649 | 396 | ' | ' |
Securities held to maturity | ' | ' | ' | ' |
Net loans, including loans held for sale | ' | ' | ' | ' |
Bank owned life insurance | 292,694 | 257,060 | ' | ' |
Derivative assets | ' | ' | ' | ' |
Accrued interest receivable | 35,520 | 30,210 | ' | ' |
Deposits | 7,592,159 | 6,546,316 | ' | ' |
Short-term borrowings | 1,241,239 | 1,083,138 | ' | ' |
Long-term debt | ' | ' | ' | ' |
Junior subordinated debt | ' | ' | ' | ' |
Derivative liabilities | ' | ' | ' | ' |
Accrued interest payable | 7,061 | 9,054 | ' | ' |
Fair Value [Member] | Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Securities available for sale | 1,107,252 | 1,139,722 | ' | ' |
Securities held to maturity | 1,182,671 | 1,128,524 | ' | ' |
Net loans, including loans held for sale | ' | ' | ' | ' |
Bank owned life insurance | ' | ' | ' | ' |
Derivative assets | 33,317 | 58,008 | ' | ' |
Accrued interest receivable | ' | ' | ' | ' |
Deposits | 2,616,109 | 2,571,441 | ' | ' |
Short-term borrowings | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' |
Junior subordinated debt | ' | ' | ' | ' |
Derivative liabilities | 43,369 | 58,150 | ' | ' |
Accrued interest payable | ' | ' | ' | ' |
Fair Value [Member] | Level 3 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Securities available for sale | 33,749 | 32,565 | ' | ' |
Securities held to maturity | 6,892 | 14,689 | ' | ' |
Net loans, including loans held for sale | 9,243,780 | 7,966,554 | ' | ' |
Bank owned life insurance | ' | ' | ' | ' |
Derivative assets | ' | ' | ' | ' |
Accrued interest receivable | ' | ' | ' | ' |
Deposits | ' | ' | ' | ' |
Short-term borrowings | ' | ' | ' | ' |
Long-term debt | 145,995 | 92,329 | ' | ' |
Junior subordinated debt | 70,442 | 172,246 | ' | ' |
Derivative liabilities | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' |
Parent_Company_Financial_State2
Parent Company Financial Statements - Consolidated Balance Sheet of Parent Company Only (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 02, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents | $213,981 | $239,044 | $208,953 | $131,571 |
Securities available for sale | 1,141,650 | 1,172,683 | 640,571 | ' |
Other assets | 350,867 | 344,729 | ' | ' |
Total assets | 13,563,405 | 12,023,976 | 9,786,483 | ' |
Other liabilities | 130,418 | 163,151 | ' | ' |
Junior subordinated debt | 75,205 | 204,019 | ' | ' |
Long-term | 84,637 | 79,897 | ' | ' |
Total Liabilities | 11,789,022 | 10,621,907 | ' | ' |
Stockholders' Equity | 1,774,383 | 1,402,069 | 1,210,199 | 1,066,124 |
Total Liabilities and Stockholders' Equity | 13,563,405 | 12,023,976 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 145,910 | 114,654 | 166,058 | 91,560 |
Securities available for sale | 2,061 | 1,962 | ' | ' |
Other assets | 18,387 | 15,856 | ' | ' |
Total assets | 2,180,033 | 1,940,822 | ' | ' |
Other liabilities | 25,225 | 28,381 | ' | ' |
Advances from affiliates | 294,245 | 295,100 | ' | ' |
Junior subordinated debt | 76,290 | 205,156 | ' | ' |
Short-term | 8,439 | 8,355 | ' | ' |
Long-term | 1,451 | 1,761 | ' | ' |
Total Liabilities | 405,650 | 538,753 | ' | ' |
Stockholders' Equity | 1,774,383 | 1,402,069 | ' | ' |
Total Liabilities and Stockholders' Equity | 2,180,033 | 1,940,822 | ' | ' |
Parent Company [Member] | Bank Subsidiary [Member] | ' | ' | ' | ' |
Investment in and advances to subsidiaries | 1,759,551 | 1,554,543 | ' | ' |
Parent Company [Member] | Non-bank Subsidiaries [Member] | ' | ' | ' | ' |
Investment in and advances to subsidiaries | $254,124 | $253,807 | ' | ' |
Parent_Company_Financial_State3
Parent Company Financial Statements - Statements of Income of Parent Company Only (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Dividend income from subsidiaries | $103 | $375 | $157 |
Interest income | 440,386 | 431,906 | 391,125 |
Other income | 129 | 210 | 275 |
Interest expense | 44,344 | 59,055 | 74,617 |
Income Before Taxes and Equity in Undistributed Income of Subsidiaries | 162,560 | 154,183 | 119,051 |
Income tax benefit | 44,756 | 43,773 | 32,004 |
Net income | 117,804 | 110,410 | 87,047 |
Parent Company [Member] | ' | ' | ' |
Dividend income from subsidiaries | 83,103 | 80,812 | 73,768 |
Interest income | 5,277 | 5,802 | 6,172 |
Equity in undistributed income (loss) of subsidiaries | 43,804 | 39,489 | 23,681 |
Other income | 1,874 | 1,442 | 71 |
Total Income | 90,254 | 88,056 | 80,011 |
Interest expense | 14,325 | 15,646 | 16,744 |
Other expenses | 8,196 | 7,640 | 6,197 |
Total Expenses | 22,521 | 23,286 | 22,941 |
Income Before Taxes and Equity in Undistributed Income of Subsidiaries | 67,733 | 64,770 | 57,070 |
Income tax benefit | 6,267 | 6,151 | 6,296 |
Income after income taxes | 74,000 | 70,921 | 63,366 |
Net income | 117,804 | 110,410 | 87,047 |
Parent Company [Member] | Bank [Member] | ' | ' | ' |
Dividend income from subsidiaries | 77,153 | 74,412 | 65,130 |
Equity in undistributed income (loss) of subsidiaries | 42,094 | 38,401 | 25,508 |
Parent Company [Member] | Non-Bank [Member] | ' | ' | ' |
Dividend income from subsidiaries | 5,950 | 6,400 | 8,638 |
Equity in undistributed income (loss) of subsidiaries | $1,710 | $1,088 | ($1,827) |
Parent_Company_Financial_State4
Parent Company Financial Statements - Statements of Cash Flows of Parent Company Only (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' |
Net income | $117,804 | $110,410 | $87,047 |
Other, net | 14,280 | 34,848 | 34,989 |
Net cash flows provided by operating activities | 386,084 | 544,030 | 289,530 |
Proceeds from sale of securities available for sale | 22,047 | 87,101 | 101,973 |
Net cash flows used in investing activities | -644,410 | -793,503 | -284,030 |
Decrease in long-term debt | -113,967 | -197,568 | -166,144 |
Increase in long-term debt | 92,583 | 40,315 | 52,827 |
Decrease in junior subordinated debt | -134,021 | ' | ' |
Net proceeds from issuance of preferred stock | 106,882 | ' | ' |
Net proceeds from issuance of common stock | 62,092 | 8,895 | 71,053 |
Tax benefit (expense) of stock-based compensation | 1,326 | 386 | -61 |
Cash dividends paid | -71,246 | -67,646 | -60,686 |
Net cash flows (used in) provided by financing activities | 233,263 | 279,564 | 71,882 |
Net Increase (Decrease) in Cash and Cash Equivalents | -25,063 | 30,091 | 77,382 |
Cash and cash equivalents at beginning of year | 239,044 | 208,953 | 131,571 |
Cash and Cash Equivalents at End of Year | 213,981 | 239,044 | 208,953 |
Interest | 46,337 | 56,306 | 75,178 |
Parent Company [Member] | ' | ' | ' |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' |
Net income | 117,804 | 110,410 | 87,047 |
Undistributed earnings from subsidiaries | -43,804 | -39,489 | -23,681 |
Other, net | -6,218 | 109 | 8,666 |
Net cash flows provided by operating activities | 67,782 | 71,030 | 72,032 |
Proceeds from sale of securities available for sale | 128 | 201 | 389 |
(Increase) decrease in property, plant and equipment | ' | 4,193 | -243 |
Net decrease (increase) in advances to subsidiaries | 1,080 | -1,349 | -7,551 |
Net increase in investment in subsidiaries | -1,688 | -79,450 | -16,611 |
Net cash flows used in investing activities | -480 | -76,405 | -24,016 |
Net (decrease) increase in advance from affiliate | -854 | 12,944 | 16,900 |
Net increase (decrease) in short-term borrowings | 84 | -2 | -316 |
Decrease in long-term debt | -808 | -1,277 | -1,206 |
Increase in long-term debt | 499 | 671 | 798 |
Decrease in junior subordinated debt | -134,021 | ' | ' |
Net proceeds from issuance of preferred stock | 106,882 | ' | ' |
Net proceeds from issuance of common stock | 62,092 | 8,895 | 71,053 |
Tax benefit (expense) of stock-based compensation | 1,326 | 386 | -61 |
Cash dividends paid | -71,246 | -67,646 | -60,686 |
Net cash flows (used in) provided by financing activities | -36,046 | -46,029 | 26,482 |
Net Increase (Decrease) in Cash and Cash Equivalents | 31,256 | -51,404 | 74,498 |
Cash and cash equivalents at beginning of year | 114,654 | 166,058 | 91,560 |
Cash and Cash Equivalents at End of Year | 145,910 | 114,654 | 166,058 |
Interest | $14,345 | $15,690 | $16,768 |