Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'FNB CORP/FL/ | ' |
Entity Central Index Key | '0000037808 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 166,557,534 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $250,954 | $197,534 |
Interest bearing deposits with banks | 19,766 | 16,447 |
Cash and Cash Equivalents | 270,720 | 213,981 |
Securities available for sale | 1,384,273 | 1,141,650 |
Securities held to maturity (fair value of $1,439,241 and $1,189,563) | 1,427,852 | 1,199,169 |
Residential mortgage loans held for sale | 2,705 | 7,138 |
Loans, net of unearned income of $54,009 and $55,051 | 10,333,873 | 9,506,094 |
Allowance for loan losses | -116,748 | -110,784 |
Net Loans | 10,217,125 | 9,395,310 |
Premises and equipment, net | 162,383 | 154,032 |
Goodwill | 805,514 | 764,248 |
Core deposit and other intangible assets, net | 48,292 | 47,608 |
Bank owned life insurance | 309,750 | 289,402 |
Other assets | 390,633 | 350,867 |
Total Assets | 15,019,247 | 13,563,405 |
Liabilities | ' | ' |
Non-interest bearing demand | 2,429,120 | 2,200,081 |
Interest bearing demand | 4,354,333 | 3,968,679 |
Savings | 1,576,480 | 1,423,399 |
Certificates and other time deposits | 2,697,837 | 2,606,073 |
Total Deposits | 11,057,770 | 10,198,232 |
Other liabilities | 154,816 | 130,418 |
Short-term borrowings | 1,504,510 | 1,241,239 |
Long-term debt | 335,854 | 143,928 |
Junior subordinated debt | 58,220 | 75,205 |
Total Liabilities | 13,111,170 | 11,789,022 |
Stockholders' Equity | ' | ' |
Preferred stock-$0.01 par value Authorized-20,000,000 shares Issued-110,877 shares | 106,882 | 106,882 |
Common stock-$0.01 par value Authorized-500,000,000 shares Issued-167,571,661 and 159,624,796 shares | 1,673 | 1,592 |
Additional paid-in capital | 1,700,220 | 1,608,117 |
Retained earnings | 146,542 | 121,870 |
Accumulated other comprehensive loss | -36,559 | -56,924 |
Treasury stock-1,012,403 and 657,585 shares at cost | -10,681 | -7,154 |
Total Stockholders' Equity | 1,908,077 | 1,774,383 |
Total Liabilities and Stockholders' Equity | $15,019,247 | $13,563,405 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Securities held to maturity, fair value | $1,439,241 | $1,189,563 |
Unearned income on loans | $54,009 | $55,051 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 110,877 | 110,877 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 167,571,661 | 159,624,796 |
Treasury stock, shares | 1,012,403 | 657,585 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest Income | ' | ' | ' | ' |
Loans, including fees | $109,542 | $95,682 | $213,639 | $188,657 |
Securities: | ' | ' | ' | ' |
Taxable | 13,577 | 10,656 | 25,864 | 21,253 |
Nontaxable | 1,287 | 1,443 | 2,578 | 2,959 |
Dividends | 13 | 42 | 192 | 58 |
Other | 21 | 18 | 47 | 32 |
Total Interest Income | 124,440 | 107,841 | 242,320 | 212,959 |
Interest Expense | ' | ' | ' | ' |
Deposits | 7,461 | 7,343 | 14,610 | 15,608 |
Short-term borrowings | 1,333 | 1,075 | 2,552 | 2,182 |
Long-term debt | 1,112 | 775 | 2,158 | 1,549 |
Junior subordinated debt | 342 | 1,902 | 983 | 3,778 |
Total Interest Expense | 10,248 | 11,095 | 20,303 | 23,117 |
Net Interest Income | 114,192 | 96,746 | 222,017 | 189,842 |
Provision for loan losses | 10,405 | 7,903 | 17,411 | 15,444 |
Net Interest Income After Provision for Loan Losses | 103,787 | 88,843 | 204,606 | 174,398 |
Non-Interest Income | ' | ' | ' | ' |
Service charges | 17,441 | 18,564 | 32,710 | 34,989 |
Trust fees | 4,862 | 4,167 | 9,626 | 8,252 |
Insurance commissions and fees | 3,691 | 4,101 | 8,636 | 8,531 |
Securities commissions and fees | 3,002 | 2,867 | 5,393 | 5,790 |
Net securities gains | 776 | 68 | 10,237 | 752 |
Mortgage banking | 928 | 1,114 | 1,142 | 2,198 |
Bank owned life insurance | 1,807 | 1,890 | 3,992 | 3,526 |
Other | 6,683 | 3,926 | 9,524 | 6,271 |
Total Non-Interest Income | 39,190 | 36,697 | 81,260 | 70,309 |
Non-Interest Expense | ' | ' | ' | ' |
Salaries and employee benefits | 48,465 | 43,201 | 97,418 | 87,106 |
Net occupancy | 8,068 | 6,839 | 16,550 | 13,537 |
Equipment | 7,177 | 6,106 | 14,076 | 11,598 |
Amortization of intangibles | 2,461 | 2,071 | 4,744 | 3,996 |
Outside services | 8,233 | 8,562 | 15,470 | 15,767 |
FDIC insurance | 3,399 | 2,672 | 6,393 | 5,036 |
Merger related | 832 | 2,946 | 6,150 | 3,298 |
Other | 13,949 | 11,730 | 25,949 | 22,591 |
Total Non-Interest Expense | 92,584 | 84,127 | 186,750 | 162,929 |
Income Before Income Taxes | 50,393 | 41,413 | 99,116 | 81,778 |
Income taxes | 15,562 | 12,220 | 29,761 | 24,047 |
Net Income | 34,831 | 29,193 | 69,355 | 57,731 |
Preferred stock dividends | 2,010 | ' | 4,332 | ' |
Net Income Available to Common Stockholders | 32,821 | 29,193 | 65,023 | 57,731 |
Net Income per Common Share - Basic | $0.20 | $0.20 | $0.40 | $0.41 |
Net Income per Common Share - Diluted | $0.20 | $0.20 | $0.39 | $0.40 |
Cash Dividends per Common Share | $0.12 | $0.12 | $0.24 | $0.24 |
Comprehensive Income | $42,313 | $14,314 | $89,720 | $41,878 |
Consolidated_Statement_of_Stoc
Consolidated Statement of Stockholders' Equity (Unaudited) (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands, unless otherwise specified | |||||||
Balance at Dec. 31, 2012 | $1,402,069 | ' | $1,398 | $1,376,601 | $75,312 | ($46,224) | ($5,018) |
Net income | 57,731 | ' | ' | ' | 57,731 | ' | ' |
Change in other comprehensive income (loss), net of tax | -15,853 | ' | ' | ' | ' | -15,853 | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | ' | ' | ' |
Common stock: $0.24/share | -34,468 | ' | ' | ' | -34,468 | ' | ' |
Issuance of common stock | 56,178 | ' | 56 | 58,066 | ' | ' | -1,944 |
Restricted stock compensation | 2,094 | ' | ' | 2,094 | ' | ' | ' |
Tax benefit of stock-based compensation | 1,247 | ' | ' | 1,247 | ' | ' | ' |
Balance at Jun. 30, 2013 | 1,468,998 | ' | 1,454 | 1,438,008 | 98,575 | -62,077 | -6,962 |
Balance at Dec. 31, 2013 | 1,774,383 | 106,882 | 1,592 | 1,608,117 | 121,870 | -56,924 | -7,154 |
Net income | 69,355 | ' | ' | ' | 69,355 | ' | ' |
Change in other comprehensive income (loss), net of tax | 20,365 | ' | ' | ' | ' | 20,365 | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | -4,332 | ' | ' | ' | -4,332 | ' | ' |
Common stock: $0.24/share | -40,123 | ' | ' | ' | -40,123 | ' | ' |
Issuance of common stock | 4,116 | ' | 14 | 7,857 | -228 | ' | -3,527 |
Issuance of common stock-acquisitions | 81,389 | ' | 67 | 81,322 | ' | ' | ' |
Restricted stock compensation | 1,419 | ' | ' | 1,419 | ' | ' | ' |
Tax benefit of stock-based compensation | 1,505 | ' | ' | 1,505 | ' | ' | ' |
Balance at Jun. 30, 2014 | $1,908,077 | $106,882 | $1,673 | $1,700,220 | $146,542 | ($36,559) | ($10,681) |
Consolidated_Statement_of_Stoc1
Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Statement Of Stockholders Equity [Abstract] | ' | ' | ' | ' |
Common stock dividends per share | $0.12 | $0.12 | $0.24 | $0.24 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Activities | ' | ' |
Net income | $69,355 | $57,731 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 16,290 | 15,446 |
Provision for loan losses | 17,411 | 15,444 |
Deferred tax (benefit) expenses | -2,454 | 3,936 |
Net securities gains | -10,237 | -752 |
Tax benefit of stock-based compensation | -1,505 | -1,247 |
Loans originated for sale | -51,761 | -139,894 |
Loans sold | 58,659 | 150,074 |
Gain on sale of loans | -2,465 | -2,043 |
Net change in: | ' | ' |
Interest receivable | 40 | -1,207 |
Interest payable | -1,292 | -2,160 |
Trading securities | 203,178 | 88,052 |
Bank owned life insurance | -3,375 | -899 |
Other, net | 8,705 | 18,370 |
Net cash flows provided by operating activities | 300,549 | 200,851 |
Investing Activities | ' | ' |
Net change in loans | -538,144 | -262,589 |
Securities available for sale: | ' | ' |
Purchases | -526,470 | -211,531 |
Sales | 150,055 | 21,919 |
Maturities | 172,295 | 188,782 |
Securities held to maturity: | ' | ' |
Purchases | -325,989 | -235,392 |
Sales | ' | 17,429 |
Maturities | 95,152 | 172,586 |
Purchase of bank owned life insurance | -4,448 | -10,022 |
Withdrawal/surrender of bank owned life insurance | 715 | ' |
Increase in premises and equipment | -8,021 | -1,853 |
Net cash received in business combinations | 27,058 | 41,986 |
Net cash flows used in investing activities | -957,797 | -278,685 |
Financing Activities | ' | ' |
Demand (non-interest bearing and interest bearing) and savings accounts | 451,460 | 390,867 |
Time deposits | -122,075 | -173,154 |
Short-term borrowings | 263,271 | -66,920 |
Increase in long-term debt | 216,736 | 20,826 |
Decrease in long-term debt | -24,809 | -56,479 |
Decrease in junior subordinated debt | -34,022 | -15,000 |
Net proceeds from issuance of common stock | 6,376 | 1,973 |
Tax benefit of stock-based compensation | 1,505 | 1,247 |
Cash dividends paid: | ' | ' |
Preferred stock | -4,332 | ' |
Common stock | -40,123 | -34,468 |
Net cash flows provided by financing activities | 713,987 | 68,892 |
Net Increase (Decrease) in Cash and Cash Equivalents | 56,739 | -8,942 |
Cash and cash equivalents at beginning of period | 213,981 | 239,044 |
Cash and Cash Equivalents at End of Period | $270,720 | $230,102 |
BUSINESS
BUSINESS | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
BUSINESS | ' |
BUSINESS | |
F.N.B. Corporation (the Corporation), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in six states and three major metropolitan areas, including Pittsburgh, Baltimore, Maryland and Cleveland, Ohio. As of June 30, 2014, the Corporation had 283 banking offices throughout Pennsylvania, Ohio, Maryland and West Virginia. The Corporation provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania (FNBPA). Commercial banking solutions include corporate banking, small business banking, investment real estate financing, international banking, business credit, 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. Wealth management services include asset management, private banking and insurance. The Corporation also operates Regency Finance Company (Regency), which had 71 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee as of June 30, 2014. | |
On July 9, 2014, the Corporation announced that it has formally named its largest market, Pittsburgh, Pennsylvania, as its corporate headquarters, an action that is reflective of the Corporation’s strong position in that market, elevates the Corporation’s presence nationally and leverages the significant investments in infrastructure and personnel made in Pittsburgh since 2004. Given its close proximity and existing facilities, the Corporation will continue to maintain its operations centers and support areas in Hermitage, Pennsylvania. |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2014 | |
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 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). | |
Certain information and note disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The interim operating results are not necessarily indicative of operating results the Corporation expects for the full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s Annual Report on Form 10-K filed with the SEC on February 28, 2014. |
USE_OF_ESTIMATES
USE OF ESTIMATES | 6 Months Ended |
Jun. 30, 2014 | |
Text Block [Abstract] | ' |
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. |
SECURITIES_OFFERINGS
SECURITIES OFFERINGS | 6 Months Ended |
Jun. 30, 2014 | |
Equity [Abstract] | ' |
SECURITIES OFFERINGS | ' |
SECURITIES OFFERINGS | |
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 common and preferred stock offerings after deducting underwriting discounts and commissions and offering expenses were $54,434 and $106,882, respectively. |
MERGERS_AND_ACQUISITIONS
MERGERS AND ACQUISITIONS | 6 Months Ended |
Jun. 30, 2014 | |
Business Combinations [Abstract] | ' |
MERGERS AND ACQUISITIONS | ' |
MERGERS AND ACQUISITIONS | |
OBA Financial Services, Inc. | |
On April 8, 2014, the Corporation announced the signing of a definitive merger agreement to acquire OBA Financial Services, Inc. (OBA), a bank holding company with approximately $390,000 in total assets based in Germantown, Maryland. The transaction is valued at approximately $94,000. Under the terms of the merger agreement, OBA shareholders will be entitled to receive 1.781 shares of the Corporation’s common stock for each share of OBA common stock. OBA’s banking affiliate, OBA Bank, will be merged into FNBPA. The transaction is expected to be completed in the third quarter of 2014, pending the approval of shareholders of OBA and the satisfaction of other closing conditions. Regulatory approvals for the transaction were obtained in July 2014. | |
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. On the acquisition date, the estimated fair values of BCSB included $597,522 in assets, $308,389 in loans and $532,197 in deposits. The acquisition was valued at approximately $80,544 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. The Corporation also acquired the outstanding stock options of BCSB that became fully vested upon the acquisition. The assets and liabilities of BCSB were recorded on the Corporation’s consolidated balance sheet at their preliminary estimated fair values as of February 15, 2014, the acquisition date, and BCSB’s results of operations have been included in the Corporation’s consolidated statement of comprehensive income since that date. BCSB’s banking affiliate, Baltimore County Savings Bank, was merged into FNBPA on February 15, 2014. Based on a preliminary purchase price allocation, the Corporation recorded $41,500 in goodwill and $6,591 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. | |
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 $741,058 in assets, $512,795 in loans and $628,205 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 consolidated balance sheets 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 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 $52,605 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 $430,475 in assets, $256,212 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 consolidated balance sheets at their 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 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 U.S. Department of the Treasury (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 the purchase price allocation, the Corporation recorded $35,854 in goodwill and $3,775 in core deposit intangibles as a result of the acquisition. None of the goodwill is deductible for income tax purposes. |
NEW_ACCOUNTING_STANDARDS
NEW ACCOUNTING STANDARDS | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
NEW ACCOUNTING STANDARDS | ' |
NEW ACCOUNTING STANDARDS | |
Stock Compensation | |
In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 provides guidance relating to the accounting for a performance target that could be achieved after the requisite service period. ASU 2014-12 requires that such performance targets be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. The requirements of ASU 2014-12 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. Companies may apply the amendments in this standard either prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying ASU 2014-12 should be recognized as an adjustment to the beginning balance of retained earnings. The Corporation is evaluating this new guidance and has not yet determined the impact that the adoption of this update will have on its financial statements. | |
Repurchase Agreements | |
In June 2014, the FASB issued ASU No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, that requires repurchase-to-maturity transactions to be accounted for as secured borrowings, eliminates current guidance on repurchase financings and requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty. ASU 2014-11 also requires an entity to disclose information on transfers accounted for as sales in transactions that are economically similar to repurchase agreements and to disclose information about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The accounting changes in ASU 2014-11 are effective for the first interim or annual reporting period beginning after December 15, 2014. Changes in accounting for transactions outstanding on the effective date must be presented as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Early adoption is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual reporting periods beginning after December 15, 2014. The disclosure for repurchase agreements and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The Corporation is evaluating this new guidance and has not yet determined the impact that the adoption of this update will have on its financial statements. | |
Revenue Recognition | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, to clarify the principles for recognizing revenue and to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. An entity should apply the amendments in this update using either a full retrospective application or a modified retrospective application. Under the full retrospective application, an entity will apply the standard to each prior reporting period presented. Under the modified retrospective application, an entity recognizes the cumulative effect of initially applying the new standard as an adjustment to the opening balance of retained earnings at the date of initial application. Revenue in periods presented before that date will continue to be reported under guidance in effect before the change. The Corporation is evaluating this new guidance and has not yet determined which approach it will adopt to apply the amendments in ASU 2014-09 or the impact that the adoption of this update will have on its financial statements. | |
Troubled Debt Restructurings | |
In January 2014, the FASB issued 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 other real estate owned (OREO) recognized. ASU 2014-04 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 will not have an impact on the financial statements, results of operations or liquidity of the Corporation since the Corporation already accounts for foreclosures according to the requirements of this update. | |
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. ASU 2014-01 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 did not have a material effect on the financial statements, results of operations or liquidity of the Corporation. |
SECURITIES
SECURITIES | 6 Months Ended | ||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
SECURITIES | ' | ||||||||||||||||||||||||||||||||||||
SECURITIES | |||||||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities are as follows: | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 9,858 | $ | 18 | $ | — | $ | 9,876 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 293,306 | 784 | (2,135 | ) | 291,955 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 427,873 | 7,230 | (28 | ) | 435,075 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 614,983 | 1,130 | (11,600 | ) | 604,513 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,612 | 13 | — | 1,625 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 9,059 | 2 | — | 9,061 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 13,913 | 572 | (74 | ) | 14,411 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,559 | 534 | (620 | ) | 16,473 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,387,163 | 10,283 | (14,457 | ) | 1,382,989 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 253 | — | 1,284 | |||||||||||||||||||||||||||||||||
$ | 1,388,194 | $ | 10,536 | $ | (14,457 | ) | $ | 1,384,273 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 502 | $ | 138 | $ | — | $ | 640 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 101,691 | 536 | (720 | ) | 101,507 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 715,611 | 17,309 | (698 | ) | 732,222 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 458,232 | 2,054 | (9,778 | ) | 450,508 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 5,823 | 21 | (7 | ) | 5,837 | ||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 2,227 | 147 | — | 2,374 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 143,766 | 2,796 | (409 | ) | 146,153 | ||||||||||||||||||||||||||||||||
$ | 1,427,852 | $ | 23,001 | $ | (11,612 | ) | $ | 1,439,241 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
The Corporation classifies securities as trading securities when management intends to sell such securities in the near term. Such securities are carried at fair value, with unrealized gains (losses) reflected through the consolidated statements of comprehensive income. The Corporation classified certain securities acquired in conjunction with the BCSB, PVF and ANNB acquisitions as trading securities. The Corporation both acquired and sold these trading securities during the quarterly periods in which each of the acquisitions occurred. As of June 30, 2014 and December 31, 2013, the Corporation did not hold any trading securities. | |||||||||||||||||||||||||||||||||||||
Gross gains and gross losses were realized on securities as follows: | |||||||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Gross gains | $ | 739 | $ | 83 | $ | 18,748 | $ | 1,115 | |||||||||||||||||||||||||||||
Gross losses | 37 | (15 | ) | (8,511 | ) | (363 | ) | ||||||||||||||||||||||||||||||
$ | 776 | $ | 68 | $ | 10,237 | $ | 752 | ||||||||||||||||||||||||||||||
During the first quarter of 2014, the Corporation strategically sold its entire portfolio of pooled trust preferred securities (TPS) with net proceeds of $51,540 and a gain of $13,766. Of the 23 pooled securities sold, one was determined to be a disallowed investment under the Volcker Rule (Section 619) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), and as such, was required to be disposed of by July 2015. Partially offsetting this gain was a net loss of $3,529 relating to the sale of other securities. By selling these securities, the Corporation strengthened the risk profile of its investment portfolio, improved its capital levels due to lowered risk-weighted assets and generated capital to support future growth. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014, 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 | $ | — | $ | — | $ | 3,435 | $ | 3,487 | |||||||||||||||||||||||||||||
Due from one to five years | 243,965 | 243,570 | 90,689 | 90,216 | |||||||||||||||||||||||||||||||||
Due from five to ten years | 82,788 | 82,882 | 76,059 | 77,683 | |||||||||||||||||||||||||||||||||
Due after ten years | 6,883 | 6,263 | 75,776 | 76,914 | |||||||||||||||||||||||||||||||||
333,636 | 332,715 | 245,959 | 248,300 | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 427,873 | 435,075 | 715,611 | 732,222 | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 614,983 | 604,513 | 458,232 | 450,508 | |||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,612 | 1,625 | 5,823 | 5,837 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 9,059 | 9,061 | 2,227 | 2,374 | |||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 1,284 | — | — | |||||||||||||||||||||||||||||||||
$ | 1,388,194 | $ | 1,384,273 | $ | 1,427,852 | $ | 1,439,241 | ||||||||||||||||||||||||||||||
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 mortgage-backed securities based on the payment patterns of the underlying collateral. | |||||||||||||||||||||||||||||||||||||
At June 30, 2014 and December 31, 2013, securities with a carrying value of $1,047,174 and $909,548, respectively, were pledged to secure public deposits, trust deposits and for other purposes as required by law. Securities with a carrying value of $758,343 and $860,279 at June 30, 2014 and December 31, 2013, 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 | 12 Months or More | Total | |||||||||||||||||||||||||||||||||||
# | Fair | Unrealized | # | Fair | Unrealized | # | Fair | Unrealized | |||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 25,647 | $ | (38 | ) | 8 | $ | 113,891 | $ | (2,097 | ) | 10 | $ | 139,538 | $ | (2,135 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 2 | 29,988 | (28 | ) | — | — | — | 2 | 29,988 | (28 | ) | ||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 10 | 178,355 | (1,187 | ) | 16 | 243,377 | (10,413 | ) | 26 | 421,732 | (11,600 | ) | |||||||||||||||||||||||||
States of the U.S. and political subdivisions | 1 | 2,070 | (10 | ) | 1 | 1,128 | (64 | ) | 2 | 3,198 | (74 | ) | |||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 6,263 | (620 | ) | 4 | 6,263 | (620 | ) | ||||||||||||||||||||||||||
15 | $ | 236,060 | $ | (1,263 | ) | 29 | $ | 364,659 | $ | (13,194 | ) | 44 | $ | 600,719 | $ | (14,457 | ) | ||||||||||||||||||||
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 | ) | ||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 30,103 | $ | (14 | ) | 3 | $ | 39,330 | $ | (706 | ) | 5 | $ | 69,433 | $ | (720 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 1 | 13,788 | (8 | ) | 8 | 87,376 | (690 | ) | 9 | 101,164 | (698 | ) | |||||||||||||||||||||||||
Agency collateralized mortgage obligations | 4 | 50,237 | (281 | ) | 16 | 224,392 | (9,497 | ) | 20 | 274,629 | (9,778 | ) | |||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 3 | 2,805 | (7 | ) | — | — | — | 3 | 2,805 | (7 | ) | ||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 13 | 18,846 | (93 | ) | 10 | 14,193 | (316 | ) | 23 | 33,039 | (409 | ) | |||||||||||||||||||||||||
23 | $ | 115,779 | $ | (403 | ) | 37 | $ | 365,291 | $ | (11,209 | ) | 60 | $ | 481,070 | $ | (11,612 | ) | ||||||||||||||||||||
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 | ) | ||||||||||||||||||||
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) as of December 31, 2013 related to investments in pooled TPS, all of which were sold during the first quarter of 2014 as previously noted. The Corporation’s remaining portfolio of TPS consists of four single-issuer securities, which are primarily from money-center and large regional banks and are included in other debt securities. These single-issuer TPS had an amortized cost and estimated fair value of $6,883 and $6,263 at June 30, 2014, respectively. The Corporation has concluded from its analysis performed at June 30, 2014 that it is probable that the Corporation will collect all contractual principal and interest payments related to these securities. | |||||||||||||||||||||||||||||||||||||
Other-Than-Temporary Impairment | |||||||||||||||||||||||||||||||||||||
The Corporation evaluates its investment securities portfolio for other-than-temporary impairment (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 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 Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 17,155 | $ | — | $ | 27 | $ | 17,182 | |||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | (17,155 | ) | — | — | (17,155 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | — | $ | — | $ | 27 | $ | 27 | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 17,155 | $ | 212 | — | $ | 17,367 | ||||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | — | (212 | ) | — | (212 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 17,155 | $ | — | — | $ | 17,155 | ||||||||||||||||||||||||||||||
The Corporation did not recognize any impairment losses on securities for the six months ended June 30, 2014 or 2013. | |||||||||||||||||||||||||||||||||||||
States of the U.S. and Political Subdivisions | |||||||||||||||||||||||||||||||||||||
The Corporation’s municipal bond portfolio of $158,177 as of June 30, 2014 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 99.0% of the portfolio. Geographically, municipal bonds support the Corporation’s footprint as 82.3% of the securities are from municipalities located throughout Pennsylvania. The average holding size of the securities in the municipal bond portfolio is $1,069. In addition to the strong stand-alone ratings, 89.3% of the municipalities have some formal credit enhancement insurance that strengthens 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 | 6 Months Ended |
Jun. 30, 2014 | |
Banking And Thrift [Abstract] | ' |
FEDERAL HOME LOAN BANK STOCK | ' |
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 June 30, 2014 and December 31, 2013, the Corporation’s FHLB stock totaled $48,425 and $23,636, 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, 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 | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
LOANS AND ALLOWANCE FOR LOAN LOSSES | ' | ||||||||||||||||||||||||||||
LOANS AND ALLOWANCE FOR LOAN LOSSES | |||||||||||||||||||||||||||||
Following is a summary of loans, net of unearned income: | |||||||||||||||||||||||||||||
Originated | Acquired | Total | |||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,840,836 | $ | 737,097 | $ | 3,577,933 | |||||||||||||||||||||||
Commercial and industrial | 1,997,008 | 106,888 | 2,103,896 | ||||||||||||||||||||||||||
Commercial leases | 164,676 | — | 164,676 | ||||||||||||||||||||||||||
Total commercial loans and leases | 5,002,520 | 843,985 | 5,846,505 | ||||||||||||||||||||||||||
Direct installment | 1,438,347 | 73,802 | 1,512,149 | ||||||||||||||||||||||||||
Residential mortgages | 718,332 | 426,954 | 1,145,286 | ||||||||||||||||||||||||||
Indirect installment | 726,066 | 3,447 | 729,513 | ||||||||||||||||||||||||||
Consumer lines of credit | 881,913 | 155,606 | 1,037,519 | ||||||||||||||||||||||||||
Other | 62,901 | — | 62,901 | ||||||||||||||||||||||||||
$ | 8,830,079 | $ | 1,503,794 | $ | 10,333,873 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
The carrying amount of acquired loans at June 30, 2014 totaled $1,498,234, including purchased credit-impaired (PCI) loans with a carrying amount of $12,953, while the carrying amount of acquired loans at December 31, 2013 totaled $1,345,429, including PCI loans with a carrying amount of $21,192. The outstanding contractual balance receivable of acquired loans at June 30, 2014 totaled $1,601,476, including PCI loans with an outstanding contractual balance receivable of $35,352, while 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. | |||||||||||||||||||||||||||||
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 are made 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 $32,935 or 0.3% of total loans at June 30, 2014, compared to $39,379 or 0.4% of total loans at December 31, 2013. Additionally, the total loan portfolio contains consumer finance loans to individuals in Pennsylvania, Ohio, Tennessee and Kentucky, which totaled $175,802 or 1.7% of total loans at June 30, 2014, compared to $179,970 or 1.9% of total loans at December 31, 2013. Due to the relative size of the consumer finance loan portfolio, they are not segregated from other consumer loans. | |||||||||||||||||||||||||||||
As of June 30, 2014, 41.1% of the commercial real estate loans were owner-occupied, while the remaining 58.9% were non-owner-occupied, compared to 43.1% and 56.9%, respectively, as of December 31, 2013. As of June 30, 2014 and December 31, 2013, the Corporation had commercial construction loans of $274,489 and $252,842, respectively, representing 2.7% of total loans. | |||||||||||||||||||||||||||||
ASC 310-30 Loans | |||||||||||||||||||||||||||||
All loans acquired in the BCSB, PVF and ANNB 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 ASC 310-30 (impaired and non-impaired) acquired from PVF and ANNB in 2013. ASC 310-30 (impaired and non-impaired) loans acquired from BSCB in 2014 are not presented because their values are expected to be immaterial, are preliminary in nature and are subject to refinement as additional information becomes available. | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||
The following table provides a summary of change in accretable yield for all acquired loans: | |||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||
Impaired | Performing | ||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 7,456 | $ | 298,190 | $ | 305,646 | |||||||||||||||||||||||
Acquisitions | — | — | — | ||||||||||||||||||||||||||
Reduction due to unexpected early payoffs | — | (18,821 | ) | (18,821 | ) | ||||||||||||||||||||||||
Reclass from non-accretable difference | 1,710 | 895 | 2,605 | ||||||||||||||||||||||||||
Disposals/transfers | (1,821 | ) | (309 | ) | (2,130 | ) | |||||||||||||||||||||||
Accretion | (1,746 | ) | (26,529 | ) | (28,275 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 5,599 | $ | 253,426 | $ | 259,025 | |||||||||||||||||||||||
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 | |||||||||||||||||||||||
Purchased Credit-Impaired (PCI) 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. The table below does not include impaired loans from the BCSB acquisition because their values are expected to be immaterial, are preliminary in nature and are subject to refinement as additional information becomes available. | |||||||||||||||||||||||||||||
Outstanding | Non- | Expected | Accretable | Recorded | |||||||||||||||||||||||||
Balance | Accretable | Cash Flows | Yield | Investment | |||||||||||||||||||||||||
Difference | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 56,500 | $ | (26,852 | ) | $ | 29,648 | $ | (7,456 | ) | $ | 22,192 | |||||||||||||||||
Acquisitions | — | — | — | — | — | ||||||||||||||||||||||||
Accretion | — | — | — | 1,746 | 1,746 | ||||||||||||||||||||||||
Payments received | (10,105 | ) | 2,306 | (7,799 | ) | — | (7,799 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | — | 1,710 | 1,710 | (1,710 | ) | — | |||||||||||||||||||||||
Disposals/transfers | (12,230 | ) | 7,671 | (4,559 | ) | 1,821 | (2,738 | ) | |||||||||||||||||||||
Contractual interest | 1,187 | (1,187 | ) | — | — | — | |||||||||||||||||||||||
Balance at end of period | $ | 35,352 | $ | (16,352 | ) | $ | 19,000 | $ | (5,599 | ) | $ | 13,401 | |||||||||||||||||
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 | |||||||||||||||||
The accretion in the table above includes $242 in 2014 and $440 in 2013 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 troubled debt restructurings (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: | |||||||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Non-accrual loans | $ | 59,549 | $ | 58,755 | |||||||||||||||||||||||||
Troubled debt restructurings | 20,485 | 18,698 | |||||||||||||||||||||||||||
Total non-performing loans | 80,034 | 77,453 | |||||||||||||||||||||||||||
Other real estate owned (OREO) | 40,268 | 40,681 | |||||||||||||||||||||||||||
Total non-performing loans and OREO | 120,302 | 118,134 | |||||||||||||||||||||||||||
Non-performing investments | — | 797 | |||||||||||||||||||||||||||
Total non-performing assets | $ | 120,302 | $ | 118,931 | |||||||||||||||||||||||||
Asset quality ratios: | |||||||||||||||||||||||||||||
Non-performing loans as a percent of total loans | 0.77 | % | 0.81 | % | |||||||||||||||||||||||||
Non-performing loans + OREO as a percent of total loans + OREO | 1.16 | % | 1.24 | % | |||||||||||||||||||||||||
Non-performing assets as a percent of total assets | 0.8 | % | 0.88 | % | |||||||||||||||||||||||||
The following tables provide an analysis of the aging of the Corporation’s past due loans by class, segregated by loans originated and loans acquired: | |||||||||||||||||||||||||||||
30-89 Days | >90 Days | Non- | Total | Current | Total | ||||||||||||||||||||||||
Past Due | Past Due and | Accrual | Past Due | Loans | |||||||||||||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 5,313 | $ | 157 | $ | 39,300 | $ | 44,770 | $ | 2,796,066 | $ | 2,840,836 | |||||||||||||||||
Commercial and industrial | 2,444 | 4 | 8,890 | 11,338 | 1,985,670 | 1,997,008 | |||||||||||||||||||||||
Commercial leases | 802 | — | 788 | 1,590 | 163,086 | 164,676 | |||||||||||||||||||||||
Total commercial loans and leases | 8,559 | 161 | 48,978 | 57,698 | 4,944,822 | 5,002,520 | |||||||||||||||||||||||
Direct installment | 9,158 | 3,118 | 4,846 | 17,122 | 1,421,225 | 1,438,347 | |||||||||||||||||||||||
Residential mortgages | 9,053 | 2,098 | 3,829 | 14,980 | 703,352 | 718,332 | |||||||||||||||||||||||
Indirect installment | 4,734 | 235 | 1,229 | 6,198 | 719,868 | 726,066 | |||||||||||||||||||||||
Consumer lines of credit | 2,293 | 662 | 667 | 3,622 | 878,291 | 881,913 | |||||||||||||||||||||||
Other | 25 | 7 | — | 32 | 62,869 | 62,901 | |||||||||||||||||||||||
$ | 33,822 | $ | 6,281 | $ | 59,549 | $ | 99,652 | $ | 8,730,427 | $ | 8,830,079 | ||||||||||||||||||
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 | ||||||||||||||||||
30-89 | > 90 Days | Non- | Total | Current | Discount | Total | |||||||||||||||||||||||
Days | Past Due | Accrual | Past | Loans | |||||||||||||||||||||||||
Past Due | and Still | Due (1) | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 15,322 | $ | 30,769 | — | $ | 46,091 | $ | 740,533 | $ | (49,527 | ) | $ | 737,097 | |||||||||||||||
Commercial and industrial | 1,068 | 5,373 | — | 6,441 | 108,955 | (8,508 | ) | 106,888 | |||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total commercial loans and leases | 16,390 | 36,142 | — | 52,532 | 849,488 | (58,035 | ) | 843,985 | |||||||||||||||||||||
Direct installment | 2,063 | 1,177 | — | 3,240 | 68,762 | 1,800 | 73,802 | ||||||||||||||||||||||
Residential mortgages | 11,502 | 18,239 | — | 29,741 | 430,993 | (33,780 | ) | 426,954 | |||||||||||||||||||||
Indirect installment | 54 | 39 | — | 93 | 3,874 | (520 | ) | 3,447 | |||||||||||||||||||||
Consumer lines of credit | 647 | 3,039 | — | 3,686 | 159,067 | (7,147 | ) | 155,606 | |||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
$ | 30,656 | $ | 58,636 | — | $ | 89,292 | $ | 1,512,184 | $ | (97,682 | ) | $ | 1,503,794 | ||||||||||||||||
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 | ||||||||||||||||
-1 | Past due information for loans acquired is based on the contractual balance outstanding at June 30, 2014 and December 31, 2013. | ||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||
Commercial Loan Credit Quality Categories | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Originated Loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,673,272 | $ | 59,271 | $ | 107,633 | $ | 660 | $ | 2,840,836 | |||||||||||||||||||
Commercial and industrial | 1,851,533 | 66,776 | 77,812 | 887 | 1,997,008 | ||||||||||||||||||||||||
Commercial leases | 163,224 | 434 | 1,018 | — | 164,676 | ||||||||||||||||||||||||
$ | 4,688,029 | $ | 126,481 | $ | 186,463 | $ | 1,547 | $ | 5,002,520 | ||||||||||||||||||||
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 | ||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 552,495 | $ | 73,245 | $ | 103,238 | $ | 8,119 | $ | 737,097 | |||||||||||||||||||
Commercial and industrial | 87,406 | 5,987 | 13,449 | 46 | 106,888 | ||||||||||||||||||||||||
Commercial leases | — | — | — | — | — | ||||||||||||||||||||||||
$ | 639,901 | $ | 79,232 | $ | 116,687 | $ | 8,165 | $ | 843,985 | ||||||||||||||||||||
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 | ||||||||||||||||||||
Credit quality information for acquired loans is based on the contractual balance outstanding at June 30, 2014 and December 31, 2013. The increase in acquired loans in 2014 primarily relates to the BCSB acquisition on February 15, 2014. | |||||||||||||||||||||||||||||
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 loans by payment status: | |||||||||||||||||||||||||||||
Consumer Loan Credit Quality | |||||||||||||||||||||||||||||
by Payment Status | |||||||||||||||||||||||||||||
Performing | Non-Performing | Total | |||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Direct installment | $ | 1,425,827 | $ | 12,520 | $ | 1,438,347 | |||||||||||||||||||||||
Residential mortgages | 704,210 | 14,122 | 718,332 | ||||||||||||||||||||||||||
Indirect installment | 724,698 | 1,368 | 726,066 | ||||||||||||||||||||||||||
Consumer lines of credit | 880,309 | 1,604 | 881,913 | ||||||||||||||||||||||||||
Other | 62,901 | — | 62,901 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | ||||||||||||||||||||||||||
Investment | Principal | Related | Recorded | ||||||||||||||||||||||||||
Balance | Allowance | Investment | |||||||||||||||||||||||||||
At or For the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | $ | 37,984 | $ | 58,513 | $ | — | $ | 37,486 | |||||||||||||||||||||
Commercial and industrial | 7,413 | 9,038 | — | 6,192 | |||||||||||||||||||||||||
Commercial leases | 788 | 788 | — | 766 | |||||||||||||||||||||||||
Total commercial loans and leases | 46,185 | 68,339 | — | 44,444 | |||||||||||||||||||||||||
Direct installment | 12,520 | 12,920 | — | 12,222 | |||||||||||||||||||||||||
Residential mortgages | 14,122 | 16,220 | — | 13,840 | |||||||||||||||||||||||||
Indirect installment | 1,368 | 1,536 | — | 1,390 | |||||||||||||||||||||||||
Consumer lines of credit | 1,604 | 1,607 | — | 1,263 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | 2,804 | 4,930 | 660 | 6,074 | |||||||||||||||||||||||||
Commercial and industrial | 2,424 | 2,486 | 809 | 1,302 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 5,228 | 7,416 | 1,469 | 7,376 | |||||||||||||||||||||||||
Direct installment | — | — | — | — | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | — | — | — | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial real estate | 40,788 | 63,443 | 660 | 43,560 | |||||||||||||||||||||||||
Commercial and industrial | 9,837 | 11,524 | 809 | 7,494 | |||||||||||||||||||||||||
Commercial leases | 788 | 788 | — | 766 | |||||||||||||||||||||||||
Total commercial loans and leases | 51,413 | 75,755 | 1,469 | 51,820 | |||||||||||||||||||||||||
Direct installment | 12,520 | 12,920 | — | 12,222 | |||||||||||||||||||||||||
Residential mortgages | 14,122 | 16,220 | — | 13,840 | |||||||||||||||||||||||||
Indirect installment | 1,368 | 1,536 | — | 1,390 | |||||||||||||||||||||||||
Consumer lines of credit | 1,604 | 1,607 | — | 1,263 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | ||||||||||||||||||||||||||
Investment | Principal | Related | Recorded | ||||||||||||||||||||||||||
Balance | Allowance | Investment | |||||||||||||||||||||||||||
At or For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
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 | — | — | — | — | |||||||||||||||||||||||||
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 $13,401 at June 30, 2014 and $22,192 at December 31, 2013. 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 $2,911; commercial and industrial of $674; direct installment of $1,405; residential mortgages of $207; indirect installment of $248; and consumer lines of credit of $115, totaling $5,560 at June 30, 2014 and 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. | |||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Accruing: | |||||||||||||||||||||||||||||
Performing | $ | 10,614 | $ | 10,220 | |||||||||||||||||||||||||
Non-performing | 20,485 | 18,698 | |||||||||||||||||||||||||||
Non-accrual | 13,415 | 12,705 | |||||||||||||||||||||||||||
$ | 44,514 | $ | 41,623 | ||||||||||||||||||||||||||
TDRs that are accruing and performing include loans that met the criteria for non-accrual of interest prior to restructuring for which 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 the six months ended June 30, 2014, the Corporation returned to performing status $2,915 in restructured residential mortgage loans that have consistently met their modified obligations for more than six months. TDRs that are accruing and non-performing are comprised of consumer loans that have not demonstrated a consistent repayment pattern on the modified terms for more than six months, however it is 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, as modified, and 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 $446 and $561 at June 30, 2014 and December 31, 2013, respectively, and pooled reserves for individual loans under $500 of $212 and $193 for those same respective 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 $1,062 and $1,005 at June 30, 2014 and December 31, 2013, 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 during the periods indicated: | |||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | ||||||||||||||||||||||||||||
Number | Pre- | Post- | Number | Pre- | Post- | ||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | ||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||
Commercial real estate | 8 | $ | 2,508 | $ | 2,496 | 9 | $ | 2,581 | $ | 2,553 | |||||||||||||||||||
Commercial and industrial | — | — | — | 1 | 188 | 188 | |||||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | |||||||||||||||||||||||
Total commercial loans and leases | 8 | 2,508 | 2,496 | 10 | 2,769 | 2,741 | |||||||||||||||||||||||
Direct installment | 136 | 1,873 | 1,843 | 262 | 3,573 | 3,479 | |||||||||||||||||||||||
Residential mortgages | 15 | 1,070 | 1,045 | 24 | 1,359 | 1,324 | |||||||||||||||||||||||
Indirect installment | 6 | 18 | 16 | 13 | 34 | 32 | |||||||||||||||||||||||
Consumer lines of credit | 18 | 555 | 553 | 25 | 812 | 807 | |||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||
183 | $ | 6,024 | $ | 5,953 | 334 | $ | 8,547 | $ | 8,383 | ||||||||||||||||||||
Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | ||||||||||||||||||||||||||||
Number | Pre- | Post- | Number | Pre- | Post- | ||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | ||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||
Commercial real estate | — | $ | — | $ | — | 5 | $ | 1,029 | $ | 882 | |||||||||||||||||||
Commercial and industrial | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | |||||||||||||||||||||||
Total commercial loans and leases | — | — | — | 5 | 1,029 | 882 | |||||||||||||||||||||||
Direct installment | 75 | 743 | 715 | 184 | 1,904 | 1,833 | |||||||||||||||||||||||
Residential mortgages | 17 | 804 | 804 | 31 | 1,519 | 1,507 | |||||||||||||||||||||||
Indirect installment | 5 | 15 | 14 | 15 | 71 | 70 | |||||||||||||||||||||||
Consumer lines of credit | 4 | 28 | 28 | 13 | 201 | 199 | |||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||
101 | $ | 1,590 | $ | 1,561 | 248 | $ | 4,724 | $ | 4,491 | ||||||||||||||||||||
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. | |||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||
June 30, 2014 (1) | June 30, 2014 (1) | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||||
Commercial real estate | — | $ | — | — | $ | — | |||||||||||||||||||||||
Commercial and industrial | — | — | — | — | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | — | — | — | — | |||||||||||||||||||||||||
Direct installment | 33 | 240 | 47 | 392 | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | 1 | — | 1 | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
34 | $ | 240 | 48 | $ | 392 | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||
June 30, 2013 (1) | June 30, 2013 (1) | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 764 | 1 | $ | 764 | |||||||||||||||||||||||
Commercial and industrial | — | — | 1 | 32 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 1 | 764 | 2 | 796 | |||||||||||||||||||||||||
Direct installment | 24 | 276 | 32 | 375 | |||||||||||||||||||||||||
Residential mortgages | 2 | 114 | 4 | 232 | |||||||||||||||||||||||||
Indirect installment | 3 | 35 | 4 | 45 | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
30 | $ | 1,189 | 42 | $ | 1,448 | ||||||||||||||||||||||||
-1 | The recorded investment is as of period end. | ||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||
Following is a summary of changes in the allowance for loan losses, by loan class: | |||||||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provision | Balance at | ||||||||||||||||||||||||
Beginning of | Offs | Charge- | for Loan | End of | |||||||||||||||||||||||||
Period | Offs | Losses | Period | ||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 38,534 | $ | (1,572 | ) | $ | 263 | $ | (1,309 | ) | $ | 1,253 | $ | 38,478 | |||||||||||||||
Commercial and industrial | 29,971 | (540 | ) | 168 | (372 | ) | 3,418 | 33,017 | |||||||||||||||||||||
Commercial leases | 1,944 | (63 | ) | 53 | (10 | ) | 145 | 2,079 | |||||||||||||||||||||
Total commercial loans and leases | 70,449 | (2,175 | ) | 484 | (1,691 | ) | 4,816 | 73,574 | |||||||||||||||||||||
Direct installment | 16,630 | (2,264 | ) | 283 | (1,981 | ) | 2,195 | 16,844 | |||||||||||||||||||||
Residential mortgages | 5,307 | (137 | ) | 44 | (93 | ) | 292 | 5,506 | |||||||||||||||||||||
Indirect installment | 6,500 | (696 | ) | 230 | (466 | ) | 659 | 6,693 | |||||||||||||||||||||
Consumer lines of credit | 7,658 | (340 | ) | 38 | (302 | ) | 308 | 7,664 | |||||||||||||||||||||
Other | 579 | (307 | ) | 5 | (302 | ) | 630 | 907 | |||||||||||||||||||||
Total allowance on originated loans | 107,123 | (5,919 | ) | 1,084 | (4,835 | ) | 8,900 | 111,188 | |||||||||||||||||||||
Purchased credit-impaired loans | 708 | (1,653 | ) | — | (1,653 | ) | 1,393 | 448 | |||||||||||||||||||||
Other acquired loans | 4,388 | (126 | ) | 738 | 612 | 112 | 5,112 | ||||||||||||||||||||||
Total allowance on acquired loans | 5,096 | (1,779 | ) | 738 | (1,041 | ) | 1,505 | 5,560 | |||||||||||||||||||||
Total allowance | $ | 112,219 | $ | (7,698 | ) | $ | 1,822 | $ | (5,876 | ) | $ | 10,405 | $ | 116,748 | |||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 32,548 | $ | (3,795 | ) | $ | 562 | $ | (3,233 | ) | $ | 9,163 | $ | 38,478 | |||||||||||||||
Commercial and industrial | 32,603 | (1,053 | ) | 538 | (515 | ) | 929 | 33,017 | |||||||||||||||||||||
Commercial leases | 1,903 | (150 | ) | 82 | (68 | ) | 244 | 2,079 | |||||||||||||||||||||
Total commercial loans and leases | 67,054 | (4,998 | ) | 1,182 | (3,816 | ) | 10,336 | 73,574 | |||||||||||||||||||||
Direct installment | 17,824 | (4,785 | ) | 550 | (4,235 | ) | 3,255 | 16,844 | |||||||||||||||||||||
Residential mortgages | 5,836 | (269 | ) | 48 | (221 | ) | (109 | ) | 5,506 | ||||||||||||||||||||
Indirect installment | 6,409 | (1,498 | ) | 447 | (1,051 | ) | 1,335 | 6,693 | |||||||||||||||||||||
Consumer lines of credit | 7,231 | (663 | ) | 93 | (570 | ) | 1,003 | 7,664 | |||||||||||||||||||||
Other | 530 | (569 | ) | 10 | (559 | ) | 936 | 907 | |||||||||||||||||||||
Total allowance on originated loans | 104,884 | (12,782 | ) | 2,330 | (10,452 | ) | 16,756 | 111,188 | |||||||||||||||||||||
Purchased credit-impaired loans | 1,000 | (1,902 | ) | — | (1,902 | ) | 1,350 | 448 | |||||||||||||||||||||
Other acquired loans | 4,900 | (117 | ) | 1,024 | 907 | (695 | ) | 5,112 | |||||||||||||||||||||
Total allowance on acquired loans | 5,900 | (2,019 | ) | 1,024 | (995 | ) | 655 | 5,560 | |||||||||||||||||||||
Total allowance | $ | 110,784 | $ | (14,801 | ) | $ | 3,354 | $ | (11,447 | ) | $ | 17,411 | $ | 116,748 | |||||||||||||||
Balance at | Charge- | Recoveries | Net | Provision | Balance at | ||||||||||||||||||||||||
Beginning of | Offs | Charge- | for Loan | End of | |||||||||||||||||||||||||
Period | Offs | Losses | Period | ||||||||||||||||||||||||||
Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 40,012 | $ | (415 | ) | $ | 99 | $ | (316 | ) | $ | (4,030 | ) | $ | 35,666 | ||||||||||||||
Commercial and industrial | 28,838 | (2,525 | ) | 147 | (2,378 | ) | 6,026 | 32,486 | |||||||||||||||||||||
Commercial leases | 1,696 | (191 | ) | 40 | (151 | ) | 211 | 1,756 | |||||||||||||||||||||
Total commercial loans and leases | 70,546 | (3,131 | ) | 286 | (2,845 | ) | 2,207 | 69,908 | |||||||||||||||||||||
Direct installment | 15,100 | (2,296 | ) | 249 | (2,047 | ) | 2,940 | 15,993 | |||||||||||||||||||||
Residential mortgages | 4,978 | (350 | ) | 11 | (339 | ) | 481 | 5,120 | |||||||||||||||||||||
Indirect installment | 5,152 | (732 | ) | 195 | (537 | ) | 1,011 | 5,626 | |||||||||||||||||||||
Consumer lines of credit | 6,045 | (387 | ) | 62 | (325 | ) | 701 | 6,421 | |||||||||||||||||||||
Other | 683 | (211 | ) | — | (211 | ) | (691 | ) | (219 | ) | |||||||||||||||||||
Total allowance on originated loans | 102,504 | (7,107 | ) | 803 | (6,304 | ) | 6,649 | 102,849 | |||||||||||||||||||||
Purchased credit-impaired loans | 583 | — | — | — | (258 | ) | 325 | ||||||||||||||||||||||
Other acquired loans | 4,615 | (1,056 | ) | 35 | (1,021 | ) | 1,512 | 5,106 | |||||||||||||||||||||
Total allowance on acquired loans | 5,198 | (1,056 | ) | 35 | (1,021 | ) | 1,254 | 5,431 | |||||||||||||||||||||
Total allowance | $ | 107,702 | $ | (8,163 | ) | $ | 838 | $ | (7,325 | ) | $ | 7,903 | $ | 108,280 | |||||||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 34,810 | $ | (2,702 | ) | $ | 1,526 | $ | (1,176 | ) | $ | 2,032 | $ | 35,666 | |||||||||||||||
Commercial and industrial | 31,849 | (2,733 | ) | 503 | (2,230 | ) | 2,867 | 32,486 | |||||||||||||||||||||
Commercial leases | 1,744 | (248 | ) | 102 | (146 | ) | 158 | 1,756 | |||||||||||||||||||||
Total commercial loans and leases | 68,403 | (5,683 | ) | 2,131 | (3,552 | ) | 5,057 | 69,908 | |||||||||||||||||||||
Direct installment | 15,130 | (4,641 | ) | 482 | (4,159 | ) | 5,022 | 15,993 | |||||||||||||||||||||
Residential mortgages | 5,155 | (559 | ) | 40 | (519 | ) | 484 | 5,120 | |||||||||||||||||||||
Indirect installment | 5,449 | (1,542 | ) | 388 | (1,154 | ) | 1,331 | 5,626 | |||||||||||||||||||||
Consumer lines of credit | 6,057 | (729 | ) | 149 | (580 | ) | 944 | 6,421 | |||||||||||||||||||||
Other | — | (388 | ) | — | (388 | ) | 169 | (219 | ) | ||||||||||||||||||||
Total allowance on originated loans | 100,194 | (13,542 | ) | 3,190 | (10,352 | ) | 13,007 | 102,849 | |||||||||||||||||||||
Purchased credit-impaired loans | 759 | (156 | ) | — | (156 | ) | (278 | ) | 325 | ||||||||||||||||||||
Other acquired loans | 3,421 | (1,269 | ) | 239 | (1,030 | ) | 2,715 | 5,106 | |||||||||||||||||||||
Total allowance on acquired loans | 4,180 | (1,425 | ) | 239 | (1,186 | ) | 2,437 | 5,431 | |||||||||||||||||||||
Total allowance | $ | 104,374 | $ | (14,967 | ) | $ | 3,429 | $ | (11,538 | ) | $ | 15,444 | $ | 108,280 | |||||||||||||||
Following is a summary of the individual and collective originated allowance for loan losses and corresponding loan balances by class: | |||||||||||||||||||||||||||||
Allowance | Loans Outstanding | ||||||||||||||||||||||||||||
Individually | Collectively | Loans | Individually | Collectively | |||||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 660 | $ | 37,818 | $ | 2,840,836 | $ | 27,909 | $ | 2,812,927 | |||||||||||||||||||
Commercial and industrial | 809 | 32,208 | 1,997,008 | 6,694 | 1,990,314 | ||||||||||||||||||||||||
Commercial leases | — | 2,079 | 164,676 | — | 164,676 | ||||||||||||||||||||||||
Total commercial loans and leases | 1,469 | 72,105 | 5,002,520 | 34,603 | 4,967,917 | ||||||||||||||||||||||||
Direct installment | — | 16,844 | 1,438,347 | — | 1,438,347 | ||||||||||||||||||||||||
Residential mortgages | — | 5,506 | 718,332 | — | 718,332 | ||||||||||||||||||||||||
Indirect installment | — | 6,693 | 726,066 | — | 726,066 | ||||||||||||||||||||||||
Consumer lines of credit | — | 7,664 | 881,913 | — | 881,913 | ||||||||||||||||||||||||
Other | — | 907 | 62,901 | — | 62,901 | ||||||||||||||||||||||||
$ | 1,469 | $ | 109,719 | $ | 8,830,079 | $ | 34,603 | $ | 8,795,476 | ||||||||||||||||||||
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 |
BORROWINGS
BORROWINGS | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
BORROWINGS | ' | ||||||||
BORROWINGS | |||||||||
Following is a summary of short-term borrowings: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Securities sold under repurchase agreements | $ | 751,066 | $ | 841,741 | |||||
Federal funds purchased | 624,000 | 270,000 | |||||||
Subordinated notes | 129,444 | 129,498 | |||||||
$ | 1,504,510 | $ | 1,241,239 | ||||||
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. | |||||||||
Following is a summary of long-term debt: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Federal Home Loan Bank advances | $ | 250,070 | $ | 50,076 | |||||
Subordinated notes | 85,784 | 84,637 | |||||||
Other subordinated debt | — | 8,637 | |||||||
Convertible debt | — | 578 | |||||||
$ | 335,854 | $ | 143,928 | ||||||
The Corporation’s banking affiliate has available credit with the FHLB of $3,695,372 of which $690,070 was used as of June 30, 2014. These advances are secured by loans collateralized by residential mortgages, HELOCs, commercial real estate 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 0.95% to 4.19% for the six months ended June 30, 2014 and 1.06% to 4.19% for the year ended December 31, 2013. |
JUNIOR_SUBORDINATED_DEBT
JUNIOR SUBORDINATED DEBT | 6 Months Ended | ||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||
JUNIOR SUBORDINATED DEBT | ' | ||||||||||||||||||||||
JUNIOR SUBORDINATED DEBT | |||||||||||||||||||||||
The Corporation has two unconsolidated subsidiary trusts as of June 30, 2014 (collectively, the Trusts): F.N.B. Statutory Trust II and Omega Financial Capital 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 third-party investors are the primary beneficiaries, the Trusts 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 was assumed as a result of an 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 limitations 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 first six months of 2014, the Corporation redeemed $33,000 of the Corporation-issued TPS, including $16,500 that the Corporation assumed as a result of the BCSB acquisition. During 2013, the Corporation redeemed $130,000 of the Corporation-issued TPS. The Corporation proactively redeemed these Corporation-issued TPS, primarily using proceeds from the November 2013 capital raise, in anticipation of meeting the limitations as described above. Under applicable regulatory capital guidelines issued by the bank regulatory agencies, upon notice of redemption, the redeemed TPS no longer qualify as tier 1 capital for the Corporation. | |||||||||||||||||||||||
The following table provides information relating to the Trusts as of June 30, 2014: | |||||||||||||||||||||||
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 | 1.88 | % | Variable; LIBOR + 165 | |||||||||||||
basis points (bps) | |||||||||||||||||||||||
Omega Financial Capital Trust I | 36,000 | 1,114 | 36,055 | 10/18/34 | 2.42 | % | Variable; LIBOR + 219 bps | ||||||||||||||||
$ | 57,500 | $ | 1,779 | $ | 58,220 |
DERIVATIVE_INSTRUMENTS
DERIVATIVE INSTRUMENTS | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
DERIVATIVE INSTRUMENTS | ' | ||||||||||||||||
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. Since June 10, 2014, the majority of the Corporation’s derivative transactions are executed through CME Clearing, a SEC registered clearing agency, whose purpose is to ensure safety and soundness in the markets, rather than directly with a counterparty. 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 interest rate derivative agreements 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 six months ended June 30, 2014. | |||||||||||||||||
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 June 30, 2014, the Corporation was party to 325 swaps with customers with notional amounts totaling $915,432 and 291 swaps with derivative counterparties with notional amounts totaling $1,115,432. | |||||||||||||||||
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: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Derivative assets subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 1,675 | — | $ | 1,675 | ||||||||||||
Equity contracts | 61 | — | 61 | ||||||||||||||
Derivative assets not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 37,502 | — | 37,502 | ||||||||||||||
Total derivative assets | $ | 39,238 | — | $ | 39,238 | ||||||||||||
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 | ||||||||||||
Offsetting of Derivative Liabilities: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Derivative liabilities subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 41,768 | — | $ | 41,768 | ||||||||||||
Derivative liabilities not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 704 | — | 704 | ||||||||||||||
Equity contracts | 61 | — | 61 | ||||||||||||||
Total derivative liabilities | $ | 42,533 | — | $ | 42,533 | ||||||||||||
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 | ||||||||||||
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: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Counterparty D | $ | 56 | $ | 56 | $ | — | $ | — | |||||||||
Counterparty E | 476 | 476 | — | — | |||||||||||||
Counterparty F | 94 | — | — | 94 | |||||||||||||
Counterparty G | 50 | 50 | — | — | |||||||||||||
Counterparty I | 198 | 198 | — | — | |||||||||||||
Counterparty J | 862 | — | 862 | — | |||||||||||||
$ | 1,736 | $ | 780 | $ | 862 | $ | 94 | ||||||||||
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 | ||||||||||
Derivative Liabilities: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Counterparty A | $ | 4,567 | $ | 4,567 | $ | — | $ | — | |||||||||
Counterparty B | 2,889 | 2,889 | — | — | |||||||||||||
Counterparty C | 1,333 | 1,333 | — | — | |||||||||||||
Counterparty D | 8,263 | 8,263 | — | — | |||||||||||||
Counterparty E | 4,453 | 4,453 | — | — | |||||||||||||
Counterparty F | 27 | — | — | 27 | |||||||||||||
Counterparty G | 4,334 | 4,334 | — | — | |||||||||||||
Counterparty H | 2,057 | — | — | 2,057 | |||||||||||||
Counterparty I | 5,899 | 5,899 | — | — | |||||||||||||
Counterparty J | 7,946 | — | 7,946 | — | |||||||||||||
$ | 41,768 | $ | 31,738 | $ | 7,946 | $ | 2,084 | ||||||||||
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 | ||||||||||
The following table presents the effect of the Corporation’s derivative financial instruments on the income statement: | |||||||||||||||||
Income | Six Months Ended | ||||||||||||||||
Statement | June 30, | ||||||||||||||||
Location | 2014 | 2013 | |||||||||||||||
Interest Rate Products | Other income | $ | 820 | $ | 368 | ||||||||||||
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 June 30, 2014 and December 31, 2013, 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 $41,333 and $38,239, respectively. At June 30, 2014, the Corporation has posted collateral with derivative counterparties with a fair value of $33,211 and cash collateral of $9,461. At December 31, 2013, the Corporation had posted collateral with derivative counterparties with a fair value of $37,427 and cash collateral of $1,976. 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 $2,124 and $2,224 as of June 30, 2014 and December 31, 2013, 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 June 30, 2014 and December 31, 2013 are not material. |
COMMITMENTS_CREDIT_RISK_AND_CO
COMMITMENTS, CREDIT RISK AND CONTINGENCIES | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
COMMITMENTS, CREDIT RISK AND CONTINGENCIES | ' | ||||||||
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: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commitments to extend credit | $ | 3,287,465 | $ | 2,897,748 | |||||
Standby letters of credit | 114,268 | 114,298 | |||||||
At June 30, 2014, funding of 73.8% 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. | |||||||||
OBA Financial Services, Inc. Stockholder Litigation | |||||||||
On May 7, 2014, a purported shareholder of OBA filed a putative class action complaint in the Circuit Court for Montgomery County, Maryland, captioned Parshall v. OBA Financial Services, Inc., et al., Case No. 390369V, and naming as defendants OBA, OBA Bank, OBA’s board of directors, F.N.B. Corporation and FNBPA. The plaintiff alleged that OBA’s board of directors breached its fiduciary duty to OBA’s shareholders by approving a proposed transaction containing certain so-called “deal protection devices” and, as a result, OBA’s shareholders will allegedly not receive fair value for their stock. The plaintiff further alleged that OBA, OBA Bank, F.N.B. Corporation and FNBPA aided and abetted the alleged breaches of fiduciary duty by the OBA board. | |||||||||
In the complaint, the plaintiff sought an injunction barring the defendants from completing the merger; rescission of the merger agreement to the extent already implemented or, in the alternative, an award of rescissory damages; an accounting to plaintiff for all damages caused by the defendants; and an award of the costs and expenses incurred by the plaintiff in the lawsuit, including a reasonable allowance for counsel fees and expert fees. | |||||||||
On July 3, 2014, the plaintiff filed an amended complaint with additional allegations regarding certain purported nondisclosures relating to the registration statement for the proposed transaction, which was filed with the SEC on June 16, 2014. In the amended complaint, the plaintiff seeks the same relief as he did in his original complaint. Based on the facts known to date, F.N.B. Corporation and FNBPA believe that the claims asserted in the amended complaint are without merit and intend to vigorously defend the litigation. |
STOCK_INCENTIVE_PLANS
STOCK INCENTIVE PLANS | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
STOCK INCENTIVE PLANS | ' | ||||||||||||||||
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). Under these Plans, the Corporation issues time-based awards and performance-based awards, both of which are based on a three-year vesting period. The grant date fair value of the time-based awards is equal to the price of the Corporation’s common stock on the grant date. The grant date fair value of the performance-based awards is based on total shareholder return compared to peers. The amount of expense for the performance-based awards is fixed, regardless of how much of the awards ultimately vest. For the six months ended June 30, 2014 and 2013, the Corporation issued 357,341 and 328,434 restricted stock awards, respectively, with aggregate weighted average grant date fair values of $4,871 and $3,607, respectively, under these Plans. As of June 30, 2014, the Corporation had available up to 2,417,988 shares of common stock to issue under these Plans. | |||||||||||||||||
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 $1,385 and $2,094 for the six months ended June 30, 2014 and 2013, the tax benefit of which was $485 and $733, respectively. | |||||||||||||||||
The following table summarizes certain information concerning restricted stock awards: | |||||||||||||||||
Six Months Ended June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Awards | Weighted | Awards | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Unvested awards outstanding at beginning of period | 1,729,033 | $ | 10.23 | 1,913,073 | $ | 9.17 | |||||||||||
Granted | 357,341 | 13.63 | 328,434 | 10.98 | |||||||||||||
Net adjustment due to performance | (87,512 | ) | 11.41 | — | — | ||||||||||||
Vested | (698,121 | ) | 8.77 | (734,129 | ) | 7.9 | |||||||||||
Forfeited | (32,909 | ) | 10.99 | (622 | ) | 9.23 | |||||||||||
Dividend reinvestment | 22,501 | 12.74 | 28,419 | 11.39 | |||||||||||||
Unvested awards outstanding at end of period | 1,290,333 | 11.9 | 1,535,175 | 10.21 | |||||||||||||
The total fair value of awards vested was $8,641 and $8,259 for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||
As of June 30, 2014, there was $7,028 of unrecognized compensation cost related to unvested restricted stock awards, including $129 that is subject to accelerated vesting under the Plan’s immediate vesting upon retirement provision for awards granted prior to the adoption of ASC 718, Compensation – Stock Compensation. The components of the restricted stock awards as of June 30, 2014 are as follows: | |||||||||||||||||
Service- | Performance- | Total | |||||||||||||||
Based | Based | ||||||||||||||||
Awards | Awards | ||||||||||||||||
Unvested awards | 498,910 | 791,423 | 1,290,333 | ||||||||||||||
Unrecognized compensation expense | $ | 3,860 | $ | 3,168 | $ | 7,028 | |||||||||||
Intrinsic value | $ | 6,396 | $ | 10,146 | $ | 16,542 | |||||||||||
Weighted average remaining life (in years) | 2.45 | 2.26 | 2.33 | ||||||||||||||
Stock Options | |||||||||||||||||
All outstanding stock options were assumed from acquisitions 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 129,287 for the six months ended June 30, 2014. No stock options were exercised during the six months ended June 30, 2013. | |||||||||||||||||
The following table summarizes certain information concerning stock option awards: | |||||||||||||||||
Six Months Ended June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Exercise | Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||
Options outstanding at beginning of period | 533,524 | $ | 11.5 | 640,050 | $ | 13.21 | |||||||||||
Assumed from acquisition | 304,785 | 5.77 | 19,223 | 7.92 | |||||||||||||
Exercised | (134,687 | ) | 6.24 | — | — | ||||||||||||
Forfeited | (52,262 | ) | 25.03 | (289,363 | ) | 15.05 | |||||||||||
Options outstanding and exercisable at end of period | 651,360 | 8.82 | 369,910 | 11.49 | |||||||||||||
The intrinsic value of outstanding and exercisable stock options at June 30, 2014 was $2,512. | |||||||||||||||||
Warrants | |||||||||||||||||
In conjunction with its participation in the UST’s 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 was reduced in half to 651,042 shares on 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 conjunction with the Parkvale Financial Corporation (Parkvale) acquisition on January 1, 2012, the warrant issued by Parkvale to the UST under the CPP has been 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 | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
RETIREMENT PLANS | ' | ||||||||||||||||
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 net periodic benefit credit for the defined benefit plans includes the following components: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Service cost | $ | 16 | $ | 18 | $ | 32 | $ | 36 | |||||||||
Interest cost | 1,596 | 1,427 | 3,192 | 2,854 | |||||||||||||
Expected return on plan assets | (2,487 | ) | (2,270 | ) | (4,974 | ) | (4,540 | ) | |||||||||
Amortization: | |||||||||||||||||
Unrecognized net transition asset | (5 | ) | (23 | ) | (10 | ) | (46 | ) | |||||||||
Unrecognized prior service cost | 2 | 2 | 4 | 4 | |||||||||||||
Unrecognized loss | 337 | 557 | 674 | 1,114 | |||||||||||||
Net periodic pension credit | $ | (541 | ) | $ | (289 | ) | $ | (1,082 | ) | $ | (578 | ) | |||||
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 $4,962 and $4,535 for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||
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. |
INCOME_TAXES
INCOME TAXES | 6 Months Ended |
Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
INCOME TAXES | ' |
INCOME TAXES | |
The Corporation bases its provision for income taxes upon income before income taxes, adjusted for the effect of certain tax-exempt income and non-deductible expenses. In addition, the Corporation reports certain items of income and expense in different periods for financial reporting and tax return purposes. The Corporation recognizes the tax effects of these temporary differences currently in the deferred income tax provision or benefit. The Corporation computes deferred tax assets or liabilities based upon the differences between the financial statement and income tax bases of assets and liabilities using the applicable marginal tax rate. | |
The Corporation must evaluate the probability that it will ultimately realize the full value of its deferred tax assets. Realization of the Corporation’s deferred tax assets is dependent upon a number of factors including the existence of any cumulative losses in prior periods, the amount of taxes paid in available carry-back periods, expectations for future earnings, applicable tax planning strategies and assessment of current and future economic and business conditions. The Corporation establishes a valuation allowance when it is “more likely than not” that the Corporation will not be able to realize a benefit from its deferred tax assets, or when future deductibility is uncertain. | |
At June 30, 2014, the Corporation anticipates that it will not utilize state net operating loss carryforwards and other net deferred tax assets at certain of its subsidiaries and has recorded a valuation allowance against the state deferred tax assets. The Corporation believes that, except for the portion which is covered by the valuation allowance, it is more likely than not the Corporation will realize the benefits of its deferred tax assets, net of the valuation allowance, at June 30, 2014, based on the level of historical taxable income and taxes paid in available carry-back periods. |
COMPREHENSIVE_INCOME
COMPREHENSIVE INCOME | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
COMPREHENSIVE INCOME | ' | ||||||||||||||||||||
COMPREHENSIVE INCOME | |||||||||||||||||||||
The components of comprehensive income, net of related tax, are as follows: | |||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||
Net income | $ | 34,831 | $ | 29,193 | $ | 69,355 | $ | 57,731 | |||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Unrealized gains (losses) arising during the period, net of tax expense (benefit) of $2,937, $(6,101), $8,618 and $(6,200) | 5,451 | (11,330 | ) | 16,001 | (11,514 | ) | |||||||||||||||
Reversal of non-credit related losses on debt securities not expected to be sold, net of tax expense of $3,335 | — | — | 6,192 | — | |||||||||||||||||
Reclassification adjustment for gains included in net income, net of tax expense of $270, $19, $3,581 and $258 | (504 | ) | (35 | ) | (6,654 | ) | (480 | ) | |||||||||||||
Derivative instruments: | |||||||||||||||||||||
Unrealized gains (losses) arising during the period, net of tax expense (benefit) of $1,248, $(2,080), $2,365 and $(2,453) | 2,317 | (3,863 | ) | 4,391 | (4,556 | ) | |||||||||||||||
Pension and postretirement benefit obligations: | |||||||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $117, $188, $234 and $375 | 218 | 349 | 435 | 697 | |||||||||||||||||
Other comprehensive income (loss) | 7,482 | (14,879 | ) | 20,365 | (15,853 | ) | |||||||||||||||
Comprehensive income | $ | 42,313 | $ | 14,314 | $ | 89,720 | $ | 41,878 | |||||||||||||
The following table presents changes in accumulated other comprehensive income, net of tax, by component: | |||||||||||||||||||||
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 | ||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Balance at beginning of period | $ | (11,874 | ) | $ | (6,192 | ) | $ | (6,586 | ) | $ | (32,272 | ) | $ | (56,924 | ) | ||||||
Other comprehensive income (loss) before reclassifications | 16,001 | 6,192 | 4,391 | 435 | 27,019 | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | (6,654 | ) | — | — | — | (6,654 | ) | ||||||||||||||
Net current period other comprehensive income (loss) | 9,347 | 6,192 | 4,391 | 435 | 20,365 | ||||||||||||||||
Balance at end of period | $ | (2,527 | ) | $ | — | $ | (2,195 | ) | $ | (31,837 | ) | $ | (36,559 | ) | |||||||
The following table presents a summary of the reclassifications out of accumulated other comprehensive income: | |||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Details About Accumulated Other | Amount | Affected Line Item | |||||||||||||||||||
Reclassified from | |||||||||||||||||||||
Comprehensive Income Component | Other | in the Statement | |||||||||||||||||||
Comprehensive | |||||||||||||||||||||
Income | where Net Income | ||||||||||||||||||||
is Presented | |||||||||||||||||||||
Unrealized net gains on securities available for sale (1) | $ | (10,237 | ) | Net securities gains | |||||||||||||||||
(3,583 | ) | Tax expense | |||||||||||||||||||
$ | (6,654 | ) | |||||||||||||||||||
-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_COMMON_SHARE
EARNINGS PER COMMON SHARE | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
EARNINGS PER COMMON SHARE | ' | ||||||||||||||||
EARNINGS PER COMMON SHARE | |||||||||||||||||
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 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 the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. | |||||||||||||||||
The following table sets forth the computation of basic and diluted earnings per common share: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net income | $ | 34,831 | $ | 29,193 | $ | 69,355 | $ | 57,731 | |||||||||
Preferred stock dividends | (2,010 | ) | — | (4,332 | ) | — | |||||||||||
Net income available to common stockholders | $ | 32,821 | $ | 29,193 | $ | 65,023 | $ | 57,731 | |||||||||
Basic weighted average common shares outstanding | 166,185,080 | 144,380,873 | 164,196,783 | 142,028,751 | |||||||||||||
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,682,528 | 1,463,291 | 1,731,577 | 1,436,919 | |||||||||||||
Diluted weighted average common shares outstanding | 167,867,608 | 145,844,164 | 165,928,360 | 143,465,670 | |||||||||||||
Earnings per common share: | |||||||||||||||||
Basic | $ | 0.2 | $ | 0.2 | $ | 0.4 | $ | 0.41 | |||||||||
Diluted | $ | 0.2 | $ | 0.2 | $ | 0.39 | $ | 0.4 | |||||||||
For the three months ended June 30, 2014 and 2013, 30,649 and 48,624 shares of common stock, respectively, related to stock options and warrants were excluded from the computation of diluted earnings per common 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 anti-dilutive. For the six months ended June 30, 2014 and 2013, 41,023 and 60,068 shares of common stock, respectively, related to stock options and warrants were excluded from the computation of diluted earnings per common 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 anti-dilutive. |
CASH_FLOW_INFORMATION
CASH FLOW INFORMATION | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
CASH FLOW INFORMATION | ' | ||||||||
CASH FLOW INFORMATION | |||||||||
Following is a summary of supplemental cash flow information: | |||||||||
Six Months Ended June 30 | 2014 | 2013 | |||||||
Interest paid on deposits and other borrowings | $ | 21,366 | $ | 25,127 | |||||
Income taxes paid | 1,000 | 16,000 | |||||||
Transfers of loans to other real estate owned | 6,660 | 8,780 | |||||||
Financing of other real estate owned sold | 259 | 262 |
BUSINESS_SEGMENTS
BUSINESS SEGMENTS | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
BUSINESS SEGMENTS | ' | ||||||||||||||||||||||||
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 | Management | Finance | and Other | ||||||||||||||||||||||
At or for the Three Months Ended June 30, 2014 | |||||||||||||||||||||||||
Interest income | $ | 113,161 | $ | — | $ | 25 | $ | 9,578 | $ | 1,676 | $ | 124,440 | |||||||||||||
Interest expense | 8,730 | — | — | 809 | 709 | 10,248 | |||||||||||||||||||
Net interest income | 104,431 | — | 25 | 8,769 | 967 | 114,192 | |||||||||||||||||||
Provision for loan losses | 8,425 | — | — | 1,778 | 202 | 10,405 | |||||||||||||||||||
Non-interest income | 27,420 | 8,033 | 2,999 | 741 | (3 | ) | 39,190 | ||||||||||||||||||
Non-interest expense | 75,281 | 6,452 | 2,911 | 4,880 | 599 | 90,123 | |||||||||||||||||||
Intangible amortization | 2,288 | 72 | 101 | — | — | 2,461 | |||||||||||||||||||
Income tax expense (benefit) | 14,048 | 548 | 8 | 1,097 | (139 | ) | 15,562 | ||||||||||||||||||
Net income (loss) | 31,809 | 961 | 4 | 1,755 | 302 | 34,831 | |||||||||||||||||||
Total assets | 14,842,988 | 21,828 | 20,785 | 182,401 | (48,755 | ) | 15,019,247 | ||||||||||||||||||
Total intangibles | 830,809 | 10,864 | 10,324 | 1,809 | — | 853,806 | |||||||||||||||||||
Community | Wealth | Insurance | Consumer Finance | Parent | Consolidated | ||||||||||||||||||||
Banking | Management | and Other | |||||||||||||||||||||||
At or for the Three Months Ended June 30, 2013 | |||||||||||||||||||||||||
Interest income | $ | 97,217 | $ | — | $ | 27 | $ | 9,304 | $ | 1,293 | $ | 107,841 | |||||||||||||
Interest expense | 7,979 | — | — | 838 | 2,278 | 11,095 | |||||||||||||||||||
Net interest income | 89,238 | — | 27 | 8,466 | (985 | ) | 96,746 | ||||||||||||||||||
Provision for loan losses | 6,031 | — | — | 1,678 | 194 | 7,903 | |||||||||||||||||||
Non-interest income | 25,940 | 7,263 | 3,243 | 719 | (468 | ) | 36,697 | ||||||||||||||||||
Non-interest expense | 67,336 | 6,402 | 2,810 | 4,823 | 685 | 82,056 | |||||||||||||||||||
Intangible amortization | 1,893 | 76 | 102 | — | — | 2,071 | |||||||||||||||||||
Income tax expense (benefit) | 11,762 | 293 | 130 | 1,041 | (1,006 | ) | 12,220 | ||||||||||||||||||
Net income (loss) | 28,156 | 492 | 228 | 1,643 | (1,326 | ) | 29,193 | ||||||||||||||||||
Total assets | 12,387,990 | 19,201 | 20,666 | 179,396 | (33,862 | ) | 12,573,391 | ||||||||||||||||||
Total intangibles | 723,282 | 11,160 | 10,729 | 1,809 | — | 746,980 | |||||||||||||||||||
At or for the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||
Interest income | $ | 219,852 | $ | — | $ | 50 | $ | 18,943 | $ | 3,475 | $ | 242,320 | |||||||||||||
Interest expense | 16,978 | — | — | 1,655 | 1,670 | 20,303 | |||||||||||||||||||
Net interest income | 202,874 | — | 50 | 17,288 | 1,805 | 222,017 | |||||||||||||||||||
Provision for loan losses | 13,721 | — | — | 3,235 | 455 | 17,411 | |||||||||||||||||||
Non-interest income | 59,333 | 15,356 | 7,209 | 1,401 | (2,039 | ) | 81,260 | ||||||||||||||||||
Non-interest expense | 152,147 | 12,744 | 5,957 | 9,817 | 1,341 | 182,006 | |||||||||||||||||||
Intangible amortization | 4,398 | 144 | 202 | — | — | 4,744 | |||||||||||||||||||
Income tax expense (benefit) | 27,391 | 899 | 393 | 2,170 | (1,092 | ) | 29,761 | ||||||||||||||||||
Net income (loss) | 64,550 | 1,569 | 707 | 3,467 | (938 | ) | 69,355 | ||||||||||||||||||
Total assets | 14,842,988 | 21,828 | 20,785 | 182,401 | (48,755 | ) | 15,019,247 | ||||||||||||||||||
Total intangibles | 830,809 | 10,864 | 10,324 | 1,809 | — | 853,806 | |||||||||||||||||||
At or for the Six Months Ended June 30, 2013 | |||||||||||||||||||||||||
Interest income | $ | 191,268 | $ | — | $ | 55 | $ | 18,320 | $ | 3,316 | $ | 212,959 | |||||||||||||
Interest expense | 16,897 | — | — | 1,694 | 4,526 | 23,117 | |||||||||||||||||||
Net interest income | 174,371 | — | 55 | 16,626 | (1,210 | ) | 189,842 | ||||||||||||||||||
Provision for loan losses | 11,851 | — | — | 3,205 | 388 | 15,444 | |||||||||||||||||||
Non-interest income | 49,638 | 14,378 | 6,802 | 1,348 | (1,857 | ) | 70,309 | ||||||||||||||||||
Non-interest expense | 130,304 | 12,488 | 5,621 | 9,339 | 1,181 | 158,933 | |||||||||||||||||||
Intangible amortization | 3,641 | 152 | 203 | — | — | 3,996 | |||||||||||||||||||
Income tax expense (benefit) | 22,934 | 643 | 369 | 2,089 | (1,988 | ) | 24,047 | ||||||||||||||||||
Net income (loss) | 55,279 | 1,095 | 664 | 3,341 | (2,648 | ) | 57,731 | ||||||||||||||||||
Total assets | 12,387,990 | 19,201 | 20,666 | 179,396 | (33,862 | ) | 12,573,391 | ||||||||||||||||||
Total intangibles | 723,282 | 11,160 | 10,729 | 1,809 | — | 746,980 |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||||||
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 June 30, 2014, 99.9% 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 0.1% 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 by Corporate personnel familiar with market liquidity and other market-related conditions. | |||||||||||||||||||||
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 June 30, 2014, 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 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 | ||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Assets measured at fair value | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury | $ | — | $ | 9,876 | $ | — | $ | 9,876 | |||||||||||||
U.S. government-sponsored entities | — | 291,955 | — | 291,955 | |||||||||||||||||
Residential mortgage-backed securities | |||||||||||||||||||||
Agency mortgage-backed securities | — | 435,075 | — | 435,075 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 604,513 | — | 604,513 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 14 | 1,611 | 1,625 | |||||||||||||||||
Commercial mortgage-backed securities | — | 9,061 | — | 9,061 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 14,411 | — | 14,411 | |||||||||||||||||
Other debt securities | — | 16,473 | — | 16,473 | |||||||||||||||||
— | 1,381,378 | 1,611 | 1,382,989 | ||||||||||||||||||
Available for sale equity securities: | |||||||||||||||||||||
Financial services industry | 88 | 636 | 443 | 1,167 | |||||||||||||||||
Insurance services industry | 117 | — | — | 117 | |||||||||||||||||
205 | 636 | 443 | 1,284 | ||||||||||||||||||
205 | 1,382,014 | 2,054 | 1,384,273 | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | 38,379 | — | 38,379 | |||||||||||||||||
Not for trading | — | 859 | — | 859 | |||||||||||||||||
— | 39,238 | — | 39,238 | ||||||||||||||||||
$ | 205 | $ | 1,421,252 | $ | 2,054 | $ | 1,423,511 | ||||||||||||||
Liabilities measured at fair value | |||||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | $ | 38,297 | — | $ | 38,297 | |||||||||||||||
Not for trading | — | 4,236 | — | 4,236 | |||||||||||||||||
— | $ | 42,533 | — | $ | 42,533 | ||||||||||||||||
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 | ||||||||||||||||
There were no transfers of assets or liabilities between the hierarchy levels for 2014. 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. | |||||||||||||||||||||
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 | ||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Balance at beginning of period | $ | 31,595 | — | $ | 410 | $ | 1,744 | $ | 33,749 | ||||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | 13,766 | — | — | — | 13,766 | ||||||||||||||||
Included in other comprehensive income | 5,608 | — | 33 | (1 | ) | 5,640 | |||||||||||||||
Accretion included in earnings | 657 | — | — | 2 | 659 | ||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | — | ||||||||||||||||
Issuances | — | — | — | — | — | ||||||||||||||||
Sales/redemptions | (51,527 | ) | — | — | — | (51,527 | ) | ||||||||||||||
Settlements | (99 | ) | — | — | (134 | ) | (233 | ) | |||||||||||||
Transfers from Level 3 | — | — | — | — | — | ||||||||||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||||
Balance at end of period | $ | — | — | $ | 443 | $ | 1,611 | $ | 2,054 | ||||||||||||
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 | |||||||||||
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 six months ended June 30, 2014 and 2013, there were no gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of those dates. The total gains included in earnings are in the net securities gains line item in the Consolidated Statements of Comprehensive 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 the 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 at the balance sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Impaired loans | — | $ | 2,154 | $ | 1,922 | $ | 4,076 | ||||||||||||||
Other real estate owned | — | 3,831 | 2,457 | 6,288 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Impaired loans | — | 3,235 | 59 | 3,294 | |||||||||||||||||
Other real estate owned | — | 4,485 | 14,957 | 19,442 | |||||||||||||||||
Impaired loans measured or re-measured at fair value on a non-recurring basis during the six months ended June 30, 2014 had a carrying amount of $5,228 and an allocated allowance for loan losses of $1,469 at June 30, 2014. The allocated allowance is based on fair value of $4,076 less estimated costs to sell of $317. The allowance for loan losses includes a provision applicable to the current period fair value measurements of $1,072, which was included in the provision for loan losses for the six months ended June 30, 2014. | |||||||||||||||||||||
OREO with a carrying amount of $7,631 was written down to $5,531 (fair value of $6,288 less estimated costs to sell of $757), resulting in a loss of $2,100, which was included in earnings for the six months ended June 30, 2014. | |||||||||||||||||||||
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 June 30, 2014, 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: | |||||||||||||||||||||
Carrying | Fair Value Measurements | ||||||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 270,720 | $ | 270,720 | $ | 270,720 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,384,273 | 1,384,273 | 205 | 1,382,014 | 2,054 | ||||||||||||||||
Securities held to maturity | 1,427,852 | 1,439,241 | — | 1,433,404 | 5,837 | ||||||||||||||||
Net loans, including loans held for sale | 10,219,830 | 10,041,484 | — | — | 10,041,484 | ||||||||||||||||
Bank owned life insurance | 309,750 | 315,714 | 315,714 | — | — | ||||||||||||||||
Derivative assets | 39,238 | 39,238 | — | 39,238 | — | ||||||||||||||||
Accrued interest receivable | 37,036 | 37,036 | 37,036 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 11,057,770 | 11,065,652 | 8,359,933 | 2,705,719 | — | ||||||||||||||||
Short-term borrowings | 1,504,510 | 1,504,510 | 1,504,510 | — | — | ||||||||||||||||
Long-term debt | 335,854 | 338,373 | — | — | 338,373 | ||||||||||||||||
Junior subordinated debt | 58,220 | 59,156 | — | — | 59,156 | ||||||||||||||||
Derivative liabilities | 42,533 | 42,533 | — | 42,533 | — | ||||||||||||||||
Accrued interest payable | 5,998 | 5,998 | 5,998 | — | — | ||||||||||||||||
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 held for sale | 9,402,448 | 9,243,780 | — | — | 9,243,780 | ||||||||||||||||
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 | — | — |
NEW_ACCOUNTING_STANDARDS_Polic
NEW ACCOUNTING STANDARDS (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Stock Compensation | ' |
Stock Compensation | |
In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 provides guidance relating to the accounting for a performance target that could be achieved after the requisite service period. ASU 2014-12 requires that such performance targets be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. The requirements of ASU 2014-12 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. Companies may apply the amendments in this standard either prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying ASU 2014-12 should be recognized as an adjustment to the beginning balance of retained earnings. The Corporation is evaluating this new guidance and has not yet determined the impact that the adoption of this update will have on its financial statements. | |
Repurchase Agreements | ' |
Repurchase Agreements | |
In June 2014, the FASB issued ASU No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, that requires repurchase-to-maturity transactions to be accounted for as secured borrowings, eliminates current guidance on repurchase financings and requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty. ASU 2014-11 also requires an entity to disclose information on transfers accounted for as sales in transactions that are economically similar to repurchase agreements and to disclose information about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The accounting changes in ASU 2014-11 are effective for the first interim or annual reporting period beginning after December 15, 2014. Changes in accounting for transactions outstanding on the effective date must be presented as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Early adoption is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual reporting periods beginning after December 15, 2014. The disclosure for repurchase agreements and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The Corporation is evaluating this new guidance and has not yet determined the impact that the adoption of this update will have on its financial statements. | |
Revenue Recognition | ' |
Revenue Recognition | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, to clarify the principles for recognizing revenue and to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. An entity should apply the amendments in this update using either a full retrospective application or a modified retrospective application. Under the full retrospective application, an entity will apply the standard to each prior reporting period presented. Under the modified retrospective application, an entity recognizes the cumulative effect of initially applying the new standard as an adjustment to the opening balance of retained earnings at the date of initial application. Revenue in periods presented before that date will continue to be reported under guidance in effect before the change. The Corporation is evaluating this new guidance and has not yet determined which approach it will adopt to apply the amendments in ASU 2014-09 or the impact that the adoption of this update will have on its financial statements. | |
Troubled Debt Restructurings | ' |
Troubled Debt Restructurings | |
In January 2014, the FASB issued 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 other real estate owned (OREO) recognized. ASU 2014-04 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 will not have an impact on the financial statements, results of operations or liquidity of the Corporation since the Corporation already accounts for foreclosures according to the requirements of this update. | |
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. ASU 2014-01 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 | ' |
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 did not have a material effect on the financial statements, results of operations or liquidity of the Corporation. |
SECURITIES_Tables
SECURITIES (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [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 Value | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 9,858 | $ | 18 | $ | — | $ | 9,876 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 293,306 | 784 | (2,135 | ) | 291,955 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 427,873 | 7,230 | (28 | ) | 435,075 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 614,983 | 1,130 | (11,600 | ) | 604,513 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,612 | 13 | — | 1,625 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 9,059 | 2 | — | 9,061 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 13,913 | 572 | (74 | ) | 14,411 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,559 | 534 | (620 | ) | 16,473 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,387,163 | 10,283 | (14,457 | ) | 1,382,989 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 253 | — | 1,284 | |||||||||||||||||||||||||||||||||
$ | 1,388,194 | $ | 10,536 | $ | (14,457 | ) | $ | 1,384,273 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | ' | ||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 9,858 | $ | 18 | $ | — | $ | 9,876 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 293,306 | 784 | (2,135 | ) | 291,955 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 427,873 | 7,230 | (28 | ) | 435,075 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 614,983 | 1,130 | (11,600 | ) | 604,513 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,612 | 13 | — | 1,625 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 9,059 | 2 | — | 9,061 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 13,913 | 572 | (74 | ) | 14,411 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,559 | 534 | (620 | ) | 16,473 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,387,163 | 10,283 | (14,457 | ) | 1,382,989 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 253 | — | 1,284 | |||||||||||||||||||||||||||||||||
$ | 1,388,194 | $ | 10,536 | $ | (14,457 | ) | $ | 1,384,273 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 502 | $ | 138 | $ | — | $ | 640 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 101,691 | 536 | (720 | ) | 101,507 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 715,611 | 17,309 | (698 | ) | 732,222 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 458,232 | 2,054 | (9,778 | ) | 450,508 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 5,823 | 21 | (7 | ) | 5,837 | ||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 2,227 | 147 | — | 2,374 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 143,766 | 2,796 | (409 | ) | 146,153 | ||||||||||||||||||||||||||||||||
$ | 1,427,852 | $ | 23,001 | $ | (11,612 | ) | $ | 1,439,241 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
Gross Gains and Gross Losses Realized on Sales of Securities | ' | ||||||||||||||||||||||||||||||||||||
Gross gains and gross losses were realized on securities as follows: | |||||||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Gross gains | $ | 739 | $ | 83 | $ | 18,748 | $ | 1,115 | |||||||||||||||||||||||||||||
Gross losses | 37 | (15 | ) | (8,511 | ) | (363 | ) | ||||||||||||||||||||||||||||||
$ | 776 | $ | 68 | $ | 10,237 | $ | 752 | ||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities, by Contractual Maturities | ' | ||||||||||||||||||||||||||||||||||||
As of June 30, 2014, 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 | $ | — | $ | — | $ | 3,435 | $ | 3,487 | |||||||||||||||||||||||||||||
Due from one to five years | 243,965 | 243,570 | 90,689 | 90,216 | |||||||||||||||||||||||||||||||||
Due from five to ten years | 82,788 | 82,882 | 76,059 | 77,683 | |||||||||||||||||||||||||||||||||
Due after ten years | 6,883 | 6,263 | 75,776 | 76,914 | |||||||||||||||||||||||||||||||||
333,636 | 332,715 | 245,959 | 248,300 | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 427,873 | 435,075 | 715,611 | 732,222 | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 614,983 | 604,513 | 458,232 | 450,508 | |||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,612 | 1,625 | 5,823 | 5,837 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 9,059 | 9,061 | 2,227 | 2,374 | |||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 1,284 | — | — | |||||||||||||||||||||||||||||||||
$ | 1,388,194 | $ | 1,384,273 | $ | 1,427,852 | $ | 1,439,241 | ||||||||||||||||||||||||||||||
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 | 12 Months or More | Total | |||||||||||||||||||||||||||||||||||
# | Fair | Unrealized | # | Fair | Unrealized | # | Fair | Unrealized | |||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||||||
Securities Available for Sale: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 25,647 | $ | (38 | ) | 8 | $ | 113,891 | $ | (2,097 | ) | 10 | $ | 139,538 | $ | (2,135 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 2 | 29,988 | (28 | ) | — | — | — | 2 | 29,988 | (28 | ) | ||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 10 | 178,355 | (1,187 | ) | 16 | 243,377 | (10,413 | ) | 26 | 421,732 | (11,600 | ) | |||||||||||||||||||||||||
States of the U.S. and political subdivisions | 1 | 2,070 | (10 | ) | 1 | 1,128 | (64 | ) | 2 | 3,198 | (74 | ) | |||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 6,263 | (620 | ) | 4 | 6,263 | (620 | ) | ||||||||||||||||||||||||||
15 | $ | 236,060 | $ | (1,263 | ) | 29 | $ | 364,659 | $ | (13,194 | ) | 44 | $ | 600,719 | $ | (14,457 | ) | ||||||||||||||||||||
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 | ) | ||||||||||||||||||||
Securities Held to Maturity: | |||||||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 30,103 | $ | (14 | ) | 3 | $ | 39,330 | $ | (706 | ) | 5 | $ | 69,433 | $ | (720 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 1 | 13,788 | (8 | ) | 8 | 87,376 | (690 | ) | 9 | 101,164 | (698 | ) | |||||||||||||||||||||||||
Agency collateralized mortgage obligations | 4 | 50,237 | (281 | ) | 16 | 224,392 | (9,497 | ) | 20 | 274,629 | (9,778 | ) | |||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 3 | 2,805 | (7 | ) | — | — | — | 3 | 2,805 | (7 | ) | ||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 13 | 18,846 | (93 | ) | 10 | 14,193 | (316 | ) | 23 | 33,039 | (409 | ) | |||||||||||||||||||||||||
23 | $ | 115,779 | $ | (403 | ) | 37 | $ | 365,291 | $ | (11,209 | ) | 60 | $ | 481,070 | $ | (11,612 | ) | ||||||||||||||||||||
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 | ) | ||||||||||||||||||||
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 Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 17,155 | $ | — | $ | 27 | $ | 17,182 | |||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | (17,155 | ) | — | — | (17,155 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | — | $ | — | $ | 27 | $ | 27 | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 17,155 | $ | 212 | — | $ | 17,367 | ||||||||||||||||||||||||||||||
Loss where impairment was not previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Additional loss where impairment was previously recognized | — | — | — | — | |||||||||||||||||||||||||||||||||
Reduction due to credit impaired securities sold | — | (212 | ) | — | (212 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 17,155 | $ | — | — | $ | 17,155 | ||||||||||||||||||||||||||||||
LOANS_AND_ALLOWANCE_FOR_LOAN_L1
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,840,836 | $ | 737,097 | $ | 3,577,933 | |||||||||||||||||||||||
Commercial and industrial | 1,997,008 | 106,888 | 2,103,896 | ||||||||||||||||||||||||||
Commercial leases | 164,676 | — | 164,676 | ||||||||||||||||||||||||||
Total commercial loans and leases | 5,002,520 | 843,985 | 5,846,505 | ||||||||||||||||||||||||||
Direct installment | 1,438,347 | 73,802 | 1,512,149 | ||||||||||||||||||||||||||
Residential mortgages | 718,332 | 426,954 | 1,145,286 | ||||||||||||||||||||||||||
Indirect installment | 726,066 | 3,447 | 729,513 | ||||||||||||||||||||||||||
Consumer lines of credit | 881,913 | 155,606 | 1,037,519 | ||||||||||||||||||||||||||
Other | 62,901 | — | 62,901 | ||||||||||||||||||||||||||
$ | 8,830,079 | $ | 1,503,794 | $ | 10,333,873 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
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 ASC 310-30 (impaired and non-impaired) acquired from PVF and ANNB in 2013. ASC 310-30 (impaired and non-impaired) loans acquired from BSCB in 2014 are not presented because their values are expected to be immaterial, are preliminary in nature and are subject to refinement as additional information becomes available. | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 7,456 | $ | 298,190 | $ | 305,646 | |||||||||||||||||||||||
Acquisitions | — | — | — | ||||||||||||||||||||||||||
Reduction due to unexpected early payoffs | — | (18,821 | ) | (18,821 | ) | ||||||||||||||||||||||||
Reclass from non-accretable difference | 1,710 | 895 | 2,605 | ||||||||||||||||||||||||||
Disposals/transfers | (1,821 | ) | (309 | ) | (2,130 | ) | |||||||||||||||||||||||
Accretion | (1,746 | ) | (26,529 | ) | (28,275 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 5,599 | $ | 253,426 | $ | 259,025 | |||||||||||||||||||||||
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 | |||||||||||||||||||||||
Summary of Information about Corporation's Purchased Credit-Impaired Loans | ' | ||||||||||||||||||||||||||||
Following is information about PCI loans. The table below does not include impaired loans from the BCSB acquisition because their values are expected to be immaterial, are preliminary in nature and are subject to refinement as additional information becomes available. | |||||||||||||||||||||||||||||
Outstanding | Non- | Expected | Accretable | Recorded | |||||||||||||||||||||||||
Balance | Accretable | Cash Flows | Yield | Investment | |||||||||||||||||||||||||
Difference | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 56,500 | $ | (26,852 | ) | $ | 29,648 | $ | (7,456 | ) | $ | 22,192 | |||||||||||||||||
Acquisitions | — | — | — | — | — | ||||||||||||||||||||||||
Accretion | — | — | — | 1,746 | 1,746 | ||||||||||||||||||||||||
Payments received | (10,105 | ) | 2,306 | (7,799 | ) | — | (7,799 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | — | 1,710 | 1,710 | (1,710 | ) | — | |||||||||||||||||||||||
Disposals/transfers | (12,230 | ) | 7,671 | (4,559 | ) | 1,821 | (2,738 | ) | |||||||||||||||||||||
Contractual interest | 1,187 | (1,187 | ) | — | — | — | |||||||||||||||||||||||
Balance at end of period | $ | 35,352 | $ | (16,352 | ) | $ | 19,000 | $ | (5,599 | ) | $ | 13,401 | |||||||||||||||||
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 | |||||||||||||||||
Summary of Non-Performing Assets | ' | ||||||||||||||||||||||||||||
Following is a summary of non-performing assets: | |||||||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Non-accrual loans | $ | 59,549 | $ | 58,755 | |||||||||||||||||||||||||
Troubled debt restructurings | 20,485 | 18,698 | |||||||||||||||||||||||||||
Total non-performing loans | 80,034 | 77,453 | |||||||||||||||||||||||||||
Other real estate owned (OREO) | 40,268 | 40,681 | |||||||||||||||||||||||||||
Total non-performing loans and OREO | 120,302 | 118,134 | |||||||||||||||||||||||||||
Non-performing investments | — | 797 | |||||||||||||||||||||||||||
Total non-performing assets | $ | 120,302 | $ | 118,931 | |||||||||||||||||||||||||
Asset quality ratios: | |||||||||||||||||||||||||||||
Non-performing loans as a percent of total loans | 0.77 | % | 0.81 | % | |||||||||||||||||||||||||
Non-performing loans + OREO as a percent of total loans + OREO | 1.16 | % | 1.24 | % | |||||||||||||||||||||||||
Non-performing assets as a percent of total assets | 0.8 | % | 0.88 | % | |||||||||||||||||||||||||
Age Analysis of Past Due Loans, by Class | ' | ||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of the Corporation’s past due loans by class, segregated by loans originated and loans acquired: | |||||||||||||||||||||||||||||
30-89 Days | >90 Days | Non- | Total | Current | Total | ||||||||||||||||||||||||
Past Due | Past Due and | Accrual | Past Due | Loans | |||||||||||||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 5,313 | $ | 157 | $ | 39,300 | $ | 44,770 | $ | 2,796,066 | $ | 2,840,836 | |||||||||||||||||
Commercial and industrial | 2,444 | 4 | 8,890 | 11,338 | 1,985,670 | 1,997,008 | |||||||||||||||||||||||
Commercial leases | 802 | — | 788 | 1,590 | 163,086 | 164,676 | |||||||||||||||||||||||
Total commercial loans and leases | 8,559 | 161 | 48,978 | 57,698 | 4,944,822 | 5,002,520 | |||||||||||||||||||||||
Direct installment | 9,158 | 3,118 | 4,846 | 17,122 | 1,421,225 | 1,438,347 | |||||||||||||||||||||||
Residential mortgages | 9,053 | 2,098 | 3,829 | 14,980 | 703,352 | 718,332 | |||||||||||||||||||||||
Indirect installment | 4,734 | 235 | 1,229 | 6,198 | 719,868 | 726,066 | |||||||||||||||||||||||
Consumer lines of credit | 2,293 | 662 | 667 | 3,622 | 878,291 | 881,913 | |||||||||||||||||||||||
Other | 25 | 7 | — | 32 | 62,869 | 62,901 | |||||||||||||||||||||||
$ | 33,822 | $ | 6,281 | $ | 59,549 | $ | 99,652 | $ | 8,730,427 | $ | 8,830,079 | ||||||||||||||||||
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 | ||||||||||||||||||
30-89 Days | > 90 Days | Non- | Total | Current | Discount | Total | |||||||||||||||||||||||
Past Due | Past Due | Accrual | Past | Loans | |||||||||||||||||||||||||
and Still | Due (1) | ||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 15,322 | $ | 30,769 | — | $ | 46,091 | $ | 740,533 | $ | (49,527 | ) | $ | 737,097 | |||||||||||||||
Commercial and industrial | 1,068 | 5,373 | — | 6,441 | 108,955 | (8,508 | ) | 106,888 | |||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total commercial loans and leases | 16,390 | 36,142 | — | 52,532 | 849,488 | (58,035 | ) | 843,985 | |||||||||||||||||||||
Direct installment | 2,063 | 1,177 | — | 3,240 | 68,762 | 1,800 | 73,802 | ||||||||||||||||||||||
Residential mortgages | 11,502 | 18,239 | — | 29,741 | 430,993 | (33,780 | ) | 426,954 | |||||||||||||||||||||
Indirect installment | 54 | 39 | — | 93 | 3,874 | (520 | ) | 3,447 | |||||||||||||||||||||
Consumer lines of credit | 647 | 3,039 | — | 3,686 | 159,067 | (7,147 | ) | 155,606 | |||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
$ | 30,656 | $ | 58,636 | — | $ | 89,292 | $ | 1,512,184 | $ | (97,682 | ) | $ | 1,503,794 | ||||||||||||||||
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 | ||||||||||||||||
-1 | Past due information for loans acquired is based on the contractual balance outstanding at June 30, 2014 and December 31, 2013. | ||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||
Commercial Loan Credit Quality Categories | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Originated Loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 2,673,272 | $ | 59,271 | $ | 107,633 | $ | 660 | $ | 2,840,836 | |||||||||||||||||||
Commercial and industrial | 1,851,533 | 66,776 | 77,812 | 887 | 1,997,008 | ||||||||||||||||||||||||
Commercial leases | 163,224 | 434 | 1,018 | — | 164,676 | ||||||||||||||||||||||||
$ | 4,688,029 | $ | 126,481 | $ | 186,463 | $ | 1,547 | $ | 5,002,520 | ||||||||||||||||||||
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 | ||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 552,495 | $ | 73,245 | $ | 103,238 | $ | 8,119 | $ | 737,097 | |||||||||||||||||||
Commercial and industrial | 87,406 | 5,987 | 13,449 | 46 | 106,888 | ||||||||||||||||||||||||
Commercial leases | — | — | — | — | — | ||||||||||||||||||||||||
$ | 639,901 | $ | 79,232 | $ | 116,687 | $ | 8,165 | $ | 843,985 | ||||||||||||||||||||
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 | ||||||||||||||||||||
Summary of Consumer Loans by Payment Status | ' | ||||||||||||||||||||||||||||
Following is a table showing originated consumer loans by payment status: | |||||||||||||||||||||||||||||
Consumer Loan Credit Quality | |||||||||||||||||||||||||||||
by Payment Status | |||||||||||||||||||||||||||||
Performing | Non- | Total | |||||||||||||||||||||||||||
Performing | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Direct installment | $ | 1,425,827 | $ | 12,520 | $ | 1,438,347 | |||||||||||||||||||||||
Residential mortgages | 704,210 | 14,122 | 718,332 | ||||||||||||||||||||||||||
Indirect installment | 724,698 | 1,368 | 726,066 | ||||||||||||||||||||||||||
Consumer lines of credit | 880,309 | 1,604 | 881,913 | ||||||||||||||||||||||||||
Other | 62,901 | — | 62,901 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Summary of Impaired Loans, by Class | ' | ||||||||||||||||||||||||||||
Following is a summary of information pertaining to originated loans considered to be impaired, by class of loans: | |||||||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | ||||||||||||||||||||||||||
Investment | Principal | Related | Recorded | ||||||||||||||||||||||||||
Balance | Allowance | Investment | |||||||||||||||||||||||||||
At or For the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | $ | 37,984 | $ | 58,513 | $ | — | $ | 37,486 | |||||||||||||||||||||
Commercial and industrial | 7,413 | 9,038 | — | 6,192 | |||||||||||||||||||||||||
Commercial leases | 788 | 788 | — | 766 | |||||||||||||||||||||||||
Total commercial loans and leases | 46,185 | 68,339 | — | 44,444 | |||||||||||||||||||||||||
Direct installment | 12,520 | 12,920 | — | 12,222 | |||||||||||||||||||||||||
Residential mortgages | 14,122 | 16,220 | — | 13,840 | |||||||||||||||||||||||||
Indirect installment | 1,368 | 1,536 | — | 1,390 | |||||||||||||||||||||||||
Consumer lines of credit | 1,604 | 1,607 | — | 1,263 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||
Commercial real estate | 2,804 | 4,930 | 660 | 6,074 | |||||||||||||||||||||||||
Commercial and industrial | 2,424 | 2,486 | 809 | 1,302 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 5,228 | 7,416 | 1,469 | 7,376 | |||||||||||||||||||||||||
Direct installment | — | — | — | — | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | — | — | — | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial real estate | 40,788 | 63,443 | 660 | 43,560 | |||||||||||||||||||||||||
Commercial and industrial | 9,837 | 11,524 | 809 | 7,494 | |||||||||||||||||||||||||
Commercial leases | 788 | 788 | — | 766 | |||||||||||||||||||||||||
Total commercial loans and leases | 51,413 | 75,755 | 1,469 | 51,820 | |||||||||||||||||||||||||
Direct installment | 12,520 | 12,920 | — | 12,222 | |||||||||||||||||||||||||
Residential mortgages | 14,122 | 16,220 | — | 13,840 | |||||||||||||||||||||||||
Indirect installment | 1,368 | 1,536 | — | 1,390 | |||||||||||||||||||||||||
Consumer lines of credit | 1,604 | 1,607 | — | 1,263 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | ||||||||||||||||||||||||||
Investment | Principal | Related | Recorded | ||||||||||||||||||||||||||
Balance | Allowance | Investment | |||||||||||||||||||||||||||
At or For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
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 | — | — | — | — | |||||||||||||||||||||||||
Summary of Composition of Total TDRs | ' | ||||||||||||||||||||||||||||
Following is a summary of the composition of total TDRs: | |||||||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Accruing: | |||||||||||||||||||||||||||||
Performing | $ | 10,614 | $ | 10,220 | |||||||||||||||||||||||||
Non-performing | 20,485 | 18,698 | |||||||||||||||||||||||||||
Non-accrual | 13,415 | 12,705 | |||||||||||||||||||||||||||
$ | 44,514 | $ | 41,623 | ||||||||||||||||||||||||||
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 during the periods indicated: | |||||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | ||||||||||||||||||||||||||||
Number | Pre- | Post- | Number | Pre- | Post- | ||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | ||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||
Commercial real estate | 8 | $ | 2,508 | $ | 2,496 | 9 | $ | 2,581 | $ | 2,553 | |||||||||||||||||||
Commercial and industrial | — | — | — | 1 | 188 | 188 | |||||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | |||||||||||||||||||||||
Total commercial loans and leases | 8 | 2,508 | 2,496 | 10 | 2,769 | 2,741 | |||||||||||||||||||||||
Direct installment | 136 | 1,873 | 1,843 | 262 | 3,573 | 3,479 | |||||||||||||||||||||||
Residential mortgages | 15 | 1,070 | 1,045 | 24 | 1,359 | 1,324 | |||||||||||||||||||||||
Indirect installment | 6 | 18 | 16 | 13 | 34 | 32 | |||||||||||||||||||||||
Consumer lines of credit | 18 | 555 | 553 | 25 | 812 | 807 | |||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||
183 | $ | 6,024 | $ | 5,953 | 334 | $ | 8,547 | $ | 8,383 | ||||||||||||||||||||
Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | ||||||||||||||||||||||||||||
Number | Pre- | Post- | Number | Pre- | Post- | ||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | ||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||
Commercial real estate | — | $ | — | $ | — | 5 | $ | 1,029 | $ | 882 | |||||||||||||||||||
Commercial and industrial | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial leases | — | — | — | — | — | — | |||||||||||||||||||||||
Total commercial loans and leases | — | — | — | 5 | 1,029 | 882 | |||||||||||||||||||||||
Direct installment | 75 | 743 | 715 | 184 | 1,904 | 1,833 | |||||||||||||||||||||||
Residential mortgages | 17 | 804 | 804 | 31 | 1,519 | 1,507 | |||||||||||||||||||||||
Indirect installment | 5 | 15 | 14 | 15 | 71 | 70 | |||||||||||||||||||||||
Consumer lines of credit | 4 | 28 | 28 | 13 | 201 | 199 | |||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||
101 | $ | 1,590 | $ | 1,561 | 248 | $ | 4,724 | $ | 4,491 | ||||||||||||||||||||
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. | |||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||
June 30, 2014 (1) | June 30, 2014 (1) | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||||
Commercial real estate | — | $ | — | — | $ | — | |||||||||||||||||||||||
Commercial and industrial | — | — | — | — | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | — | — | — | — | |||||||||||||||||||||||||
Direct installment | 33 | 240 | 47 | 392 | |||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||
Indirect installment | 1 | — | 1 | — | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
34 | $ | 240 | 48 | $ | 392 | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||
June 30, 2013 (1) | June 30, 2013 (1) | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 764 | 1 | $ | 764 | |||||||||||||||||||||||
Commercial and industrial | — | — | 1 | 32 | |||||||||||||||||||||||||
Commercial leases | — | — | — | — | |||||||||||||||||||||||||
Total commercial loans and leases | 1 | 764 | 2 | 796 | |||||||||||||||||||||||||
Direct installment | 24 | 276 | 32 | 375 | |||||||||||||||||||||||||
Residential mortgages | 2 | 114 | 4 | 232 | |||||||||||||||||||||||||
Indirect installment | 3 | 35 | 4 | 45 | |||||||||||||||||||||||||
Consumer lines of credit | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
30 | $ | 1,189 | 42 | $ | 1,448 | ||||||||||||||||||||||||
-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 of | Offs | Charge- | for Loan | End of | |||||||||||||||||||||||||
Period | Offs | Losses | Period | ||||||||||||||||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 38,534 | $ | (1,572 | ) | $ | 263 | $ | (1,309 | ) | $ | 1,253 | $ | 38,478 | |||||||||||||||
Commercial and industrial | 29,971 | (540 | ) | 168 | (372 | ) | 3,418 | 33,017 | |||||||||||||||||||||
Commercial leases | 1,944 | (63 | ) | 53 | (10 | ) | 145 | 2,079 | |||||||||||||||||||||
Total commercial loans and leases | 70,449 | (2,175 | ) | 484 | (1,691 | ) | 4,816 | 73,574 | |||||||||||||||||||||
Direct installment | 16,630 | (2,264 | ) | 283 | (1,981 | ) | 2,195 | 16,844 | |||||||||||||||||||||
Residential mortgages | 5,307 | (137 | ) | 44 | (93 | ) | 292 | 5,506 | |||||||||||||||||||||
Indirect installment | 6,500 | (696 | ) | 230 | (466 | ) | 659 | 6,693 | |||||||||||||||||||||
Consumer lines of credit | 7,658 | (340 | ) | 38 | (302 | ) | 308 | 7,664 | |||||||||||||||||||||
Other | 579 | (307 | ) | 5 | (302 | ) | 630 | 907 | |||||||||||||||||||||
Total allowance on originated loans | 107,123 | (5,919 | ) | 1,084 | (4,835 | ) | 8,900 | 111,188 | |||||||||||||||||||||
Purchased credit-impaired loans | 708 | (1,653 | ) | — | (1,653 | ) | 1,393 | 448 | |||||||||||||||||||||
Other acquired loans | 4,388 | (126 | ) | 738 | 612 | 112 | 5,112 | ||||||||||||||||||||||
Total allowance on acquired loans | 5,096 | (1,779 | ) | 738 | (1,041 | ) | 1,505 | 5,560 | |||||||||||||||||||||
Total allowance | $ | 112,219 | $ | (7,698 | ) | $ | 1,822 | $ | (5,876 | ) | $ | 10,405 | $ | 116,748 | |||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 32,548 | $ | (3,795 | ) | $ | 562 | $ | (3,233 | ) | $ | 9,163 | $ | 38,478 | |||||||||||||||
Commercial and industrial | 32,603 | (1,053 | ) | 538 | (515 | ) | 929 | 33,017 | |||||||||||||||||||||
Commercial leases | 1,903 | (150 | ) | 82 | (68 | ) | 244 | 2,079 | |||||||||||||||||||||
Total commercial loans and leases | 67,054 | (4,998 | ) | 1,182 | (3,816 | ) | 10,336 | 73,574 | |||||||||||||||||||||
Direct installment | 17,824 | (4,785 | ) | 550 | (4,235 | ) | 3,255 | 16,844 | |||||||||||||||||||||
Residential mortgages | 5,836 | (269 | ) | 48 | (221 | ) | (109 | ) | 5,506 | ||||||||||||||||||||
Indirect installment | 6,409 | (1,498 | ) | 447 | (1,051 | ) | 1,335 | 6,693 | |||||||||||||||||||||
Consumer lines of credit | 7,231 | (663 | ) | 93 | (570 | ) | 1,003 | 7,664 | |||||||||||||||||||||
Other | 530 | (569 | ) | 10 | (559 | ) | 936 | 907 | |||||||||||||||||||||
Total allowance on originated loans | 104,884 | (12,782 | ) | 2,330 | (10,452 | ) | 16,756 | 111,188 | |||||||||||||||||||||
Purchased credit-impaired loans | 1,000 | (1,902 | ) | — | (1,902 | ) | 1,350 | 448 | |||||||||||||||||||||
Other acquired loans | 4,900 | (117 | ) | 1,024 | 907 | (695 | ) | 5,112 | |||||||||||||||||||||
Total allowance on acquired loans | 5,900 | (2,019 | ) | 1,024 | (995 | ) | 655 | 5,560 | |||||||||||||||||||||
Total allowance | $ | 110,784 | $ | (14,801 | ) | $ | 3,354 | $ | (11,447 | ) | $ | 17,411 | $ | 116,748 | |||||||||||||||
Balance at | Charge- | Recoveries | Net | Provision | Balance at | ||||||||||||||||||||||||
Beginning of | Offs | Charge- | for Loan | End of | |||||||||||||||||||||||||
Period | Offs | Losses | Period | ||||||||||||||||||||||||||
Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 40,012 | $ | (415 | ) | $ | 99 | $ | (316 | ) | $ | (4,030 | ) | $ | 35,666 | ||||||||||||||
Commercial and industrial | 28,838 | (2,525 | ) | 147 | (2,378 | ) | 6,026 | 32,486 | |||||||||||||||||||||
Commercial leases | 1,696 | (191 | ) | 40 | (151 | ) | 211 | 1,756 | |||||||||||||||||||||
Total commercial loans and leases | 70,546 | (3,131 | ) | 286 | (2,845 | ) | 2,207 | 69,908 | |||||||||||||||||||||
Direct installment | 15,100 | (2,296 | ) | 249 | (2,047 | ) | 2,940 | 15,993 | |||||||||||||||||||||
Residential mortgages | 4,978 | (350 | ) | 11 | (339 | ) | 481 | 5,120 | |||||||||||||||||||||
Indirect installment | 5,152 | (732 | ) | 195 | (537 | ) | 1,011 | 5,626 | |||||||||||||||||||||
Consumer lines of credit | 6,045 | (387 | ) | 62 | (325 | ) | 701 | 6,421 | |||||||||||||||||||||
Other | 683 | (211 | ) | — | (211 | ) | (691 | ) | (219 | ) | |||||||||||||||||||
Total allowance on originated loans | 102,504 | (7,107 | ) | 803 | (6,304 | ) | 6,649 | 102,849 | |||||||||||||||||||||
Purchased credit-impaired loans | 583 | — | — | — | (258 | ) | 325 | ||||||||||||||||||||||
Other acquired loans | 4,615 | (1,056 | ) | 35 | (1,021 | ) | 1,512 | 5,106 | |||||||||||||||||||||
Total allowance on acquired loans | 5,198 | (1,056 | ) | 35 | (1,021 | ) | 1,254 | 5,431 | |||||||||||||||||||||
Total allowance | $ | 107,702 | $ | (8,163 | ) | $ | 838 | $ | (7,325 | ) | $ | 7,903 | $ | 108,280 | |||||||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 34,810 | $ | (2,702 | ) | $ | 1,526 | $ | (1,176 | ) | $ | 2,032 | $ | 35,666 | |||||||||||||||
Commercial and industrial | 31,849 | (2,733 | ) | 503 | (2,230 | ) | 2,867 | 32,486 | |||||||||||||||||||||
Commercial leases | 1,744 | (248 | ) | 102 | (146 | ) | 158 | 1,756 | |||||||||||||||||||||
Total commercial loans and leases | 68,403 | (5,683 | ) | 2,131 | (3,552 | ) | 5,057 | 69,908 | |||||||||||||||||||||
Direct installment | 15,130 | (4,641 | ) | 482 | (4,159 | ) | 5,022 | 15,993 | |||||||||||||||||||||
Residential mortgages | 5,155 | (559 | ) | 40 | (519 | ) | 484 | 5,120 | |||||||||||||||||||||
Indirect installment | 5,449 | (1,542 | ) | 388 | (1,154 | ) | 1,331 | 5,626 | |||||||||||||||||||||
Consumer lines of credit | 6,057 | (729 | ) | 149 | (580 | ) | 944 | 6,421 | |||||||||||||||||||||
Other | — | (388 | ) | — | (388 | ) | 169 | (219 | ) | ||||||||||||||||||||
Total allowance on originated loans | 100,194 | (13,542 | ) | 3,190 | (10,352 | ) | 13,007 | 102,849 | |||||||||||||||||||||
Purchased credit-impaired loans | 759 | (156 | ) | — | (156 | ) | (278 | ) | 325 | ||||||||||||||||||||
Other acquired loans | 3,421 | (1,269 | ) | 239 | (1,030 | ) | 2,715 | 5,106 | |||||||||||||||||||||
Total allowance on acquired loans | 4,180 | (1,425 | ) | 239 | (1,186 | ) | 2,437 | 5,431 | |||||||||||||||||||||
Total allowance | $ | 104,374 | $ | (14,967 | ) | $ | 3,429 | $ | (11,538 | ) | $ | 15,444 | $ | 108,280 | |||||||||||||||
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 loan balances by class: | |||||||||||||||||||||||||||||
Allowance | Loans Outstanding | ||||||||||||||||||||||||||||
Individually | Collectively | Loans | Individually | Collectively | |||||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Commercial real estate | $ | 660 | $ | 37,818 | $ | 2,840,836 | $ | 27,909 | $ | 2,812,927 | |||||||||||||||||||
Commercial and industrial | 809 | 32,208 | 1,997,008 | 6,694 | 1,990,314 | ||||||||||||||||||||||||
Commercial leases | — | 2,079 | 164,676 | — | 164,676 | ||||||||||||||||||||||||
Total commercial loans and leases | 1,469 | 72,105 | 5,002,520 | 34,603 | 4,967,917 | ||||||||||||||||||||||||
Direct installment | — | 16,844 | 1,438,347 | — | 1,438,347 | ||||||||||||||||||||||||
Residential mortgages | — | 5,506 | 718,332 | — | 718,332 | ||||||||||||||||||||||||
Indirect installment | — | 6,693 | 726,066 | — | 726,066 | ||||||||||||||||||||||||
Consumer lines of credit | — | 7,664 | 881,913 | — | 881,913 | ||||||||||||||||||||||||
Other | — | 907 | 62,901 | — | 62,901 | ||||||||||||||||||||||||
$ | 1,469 | $ | 109,719 | $ | 8,830,079 | $ | 34,603 | $ | 8,795,476 | ||||||||||||||||||||
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 | ||||||||||||||||||||
BORROWINGS_Tables
BORROWINGS (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Summary of Short-Term Borrowings | ' | ||||||||
Following is a summary of short-term borrowings: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Securities sold under repurchase agreements | $ | 751,066 | $ | 841,741 | |||||
Federal funds purchased | 624,000 | 270,000 | |||||||
Subordinated notes | 129,444 | 129,498 | |||||||
$ | 1,504,510 | $ | 1,241,239 | ||||||
Summary of Long-Term Debt | ' | ||||||||
Following is a summary of long-term debt: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Federal Home Loan Bank advances | $ | 250,070 | $ | 50,076 | |||||
Subordinated notes | 85,784 | 84,637 | |||||||
Other subordinated debt | — | 8,637 | |||||||
Convertible debt | — | 578 | |||||||
$ | 335,854 | $ | 143,928 | ||||||
JUNIOR_SUBORDINATED_DEBT_Table
JUNIOR SUBORDINATED DEBT (Tables) | 6 Months Ended | ||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||
Junior Subordinated Debt Trusts | ' | ||||||||||||||||||||||
The following table provides information relating to the Trusts as of June 30, 2014: | |||||||||||||||||||||||
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 | 1.88 | % | Variable; LIBOR + 165 | |||||||||||||
basis points (bps) | |||||||||||||||||||||||
Omega Financial Capital Trust I | 36,000 | 1,114 | 36,055 | 10/18/34 | 2.42 | % | Variable; LIBOR + 219 bps | ||||||||||||||||
$ | 57,500 | $ | 1,779 | $ | 58,220 | ||||||||||||||||||
DERIVATIVE_INSTRUMENTS_Tables
DERIVATIVE INSTRUMENTS (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Offsetting of Derivative Assets | ' | ||||||||||||||||
Gross | Gross | Net Amount | |||||||||||||||
Amount | Amounts | Presented in | |||||||||||||||
Offset in | the Balance | ||||||||||||||||
the Balance | Sheet | ||||||||||||||||
Sheet | |||||||||||||||||
Offsetting of Derivative Assets: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Derivative assets subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 1,675 | — | $ | 1,675 | ||||||||||||
Equity contracts | 61 | — | 61 | ||||||||||||||
Derivative assets not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 37,502 | — | 37,502 | ||||||||||||||
Total derivative assets | $ | 39,238 | — | $ | 39,238 | ||||||||||||
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 | ||||||||||||
Offsetting of Derivative Liabilities | ' | ||||||||||||||||
Offsetting of Derivative Liabilities: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Derivative liabilities subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | $ | 41,768 | — | $ | 41,768 | ||||||||||||
Derivative liabilities not subject to master netting arrangement: | |||||||||||||||||
Interest rate contracts | 704 | — | 704 | ||||||||||||||
Equity contracts | 61 | — | 61 | ||||||||||||||
Total derivative liabilities | $ | 42,533 | — | $ | 42,533 | ||||||||||||
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 | ||||||||||||
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: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Counterparty D | $ | 56 | $ | 56 | $ | — | $ | — | |||||||||
Counterparty E | 476 | 476 | — | — | |||||||||||||
Counterparty F | 94 | — | — | 94 | |||||||||||||
Counterparty G | 50 | 50 | — | — | |||||||||||||
Counterparty I | 198 | 198 | — | — | |||||||||||||
Counterparty J | 862 | — | 862 | — | |||||||||||||
$ | 1,736 | $ | 780 | $ | 862 | $ | 94 | ||||||||||
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 | ||||||||||
Derivative Liabilities | ' | ||||||||||||||||
Derivative Liabilities: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Counterparty A | $ | 4,567 | $ | 4,567 | $ | — | $ | — | |||||||||
Counterparty B | 2,889 | 2,889 | — | — | |||||||||||||
Counterparty C | 1,333 | 1,333 | — | — | |||||||||||||
Counterparty D | 8,263 | 8,263 | — | — | |||||||||||||
Counterparty E | 4,453 | 4,453 | — | — | |||||||||||||
Counterparty F | 27 | — | — | 27 | |||||||||||||
Counterparty G | 4,334 | 4,334 | — | — | |||||||||||||
Counterparty H | 2,057 | — | — | 2,057 | |||||||||||||
Counterparty I | 5,899 | 5,899 | — | — | |||||||||||||
Counterparty J | 7,946 | — | 7,946 | — | |||||||||||||
$ | 41,768 | $ | 31,738 | $ | 7,946 | $ | 2,084 | ||||||||||
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 | ||||||||||
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 | Six Months Ended | ||||||||||||||||
Statement | June 30, | ||||||||||||||||
Location | 2014 | 2013 | |||||||||||||||
Interest Rate Products | Other income | $ | 820 | $ | 368 |
COMMITMENTS_CREDIT_RISK_AND_CO1
COMMITMENTS, CREDIT RISK AND CONTINGENCIES (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Off-Balance Sheet Credit Risk Information | ' | ||||||||
Following is a summary of off-balance sheet credit risk information: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commitments to extend credit | $ | 3,287,465 | $ | 2,897,748 | |||||
Standby letters of credit | 114,268 | 114,298 |
STOCK_INCENTIVE_PLANS_Tables
STOCK INCENTIVE PLANS (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
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: | |||||||||||||||||
Six Months Ended June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Awards | Weighted | Awards | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Unvested awards outstanding at beginning of period | 1,729,033 | $ | 10.23 | 1,913,073 | $ | 9.17 | |||||||||||
Granted | 357,341 | 13.63 | 328,434 | 10.98 | |||||||||||||
Net adjustment due to performance | (87,512 | ) | 11.41 | — | — | ||||||||||||
Vested | (698,121 | ) | 8.77 | (734,129 | ) | 7.9 | |||||||||||
Forfeited | (32,909 | ) | 10.99 | (622 | ) | 9.23 | |||||||||||
Dividend reinvestment | 22,501 | 12.74 | 28,419 | 11.39 | |||||||||||||
Unvested awards outstanding at end of period | 1,290,333 | 11.9 | 1,535,175 | 10.21 | |||||||||||||
Components of Restricted Stock Awards | ' | ||||||||||||||||
The components of the restricted stock awards as of June 30, 2014 are as follows: | |||||||||||||||||
Service- | Performance- | Total | |||||||||||||||
Based | Based | ||||||||||||||||
Awards | Awards | ||||||||||||||||
Unvested awards | 498,910 | 791,423 | 1,290,333 | ||||||||||||||
Unrecognized compensation expense | $ | 3,860 | $ | 3,168 | $ | 7,028 | |||||||||||
Intrinsic value | $ | 6,396 | $ | 10,146 | $ | 16,542 | |||||||||||
Weighted average remaining life (in years) | 2.45 | 2.26 | 2.33 | ||||||||||||||
Summary of Information Concerning Stock Option Awards | ' | ||||||||||||||||
The following table summarizes certain information concerning stock option awards: | |||||||||||||||||
Six Months Ended June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Exercise | Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||
Options outstanding at beginning of period | 533,524 | $ | 11.5 | 640,050 | $ | 13.21 | |||||||||||
Assumed from acquisition | 304,785 | 5.77 | 19,223 | 7.92 | |||||||||||||
Exercised | (134,687 | ) | 6.24 | — | — | ||||||||||||
Forfeited | (52,262 | ) | 25.03 | (289,363 | ) | 15.05 | |||||||||||
Options outstanding and exercisable at end of period | 651,360 | 8.82 | 369,910 | 11.49 | |||||||||||||
RETIREMENT_PLANS_Tables
RETIREMENT PLANS (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Net Periodic Benefit Credit for Defined Benefit Plans | ' | ||||||||||||||||
The net periodic benefit credit for the defined benefit plans includes the following components: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Service cost | $ | 16 | $ | 18 | $ | 32 | $ | 36 | |||||||||
Interest cost | 1,596 | 1,427 | 3,192 | 2,854 | |||||||||||||
Expected return on plan assets | (2,487 | ) | (2,270 | ) | (4,974 | ) | (4,540 | ) | |||||||||
Amortization: | |||||||||||||||||
Unrecognized net transition asset | (5 | ) | (23 | ) | (10 | ) | (46 | ) | |||||||||
Unrecognized prior service cost | 2 | 2 | 4 | 4 | |||||||||||||
Unrecognized loss | 337 | 557 | 674 | 1,114 | |||||||||||||
Net periodic pension credit | $ | (541 | ) | $ | (289 | ) | $ | (1,082 | ) | $ | (578 | ) | |||||
COMPREHENSIVE_INCOME_Tables
COMPREHENSIVE INCOME (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Components of Comprehensive Income, Net of Related Tax | ' | ||||||||||||||||||||
The components of comprehensive income, net of related tax, are as follows: | |||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||
Net income | $ | 34,831 | $ | 29,193 | $ | 69,355 | $ | 57,731 | |||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Unrealized gains (losses) arising during the period, net of tax expense (benefit) of $2,937, $(6,101), $8,618 and $(6,200) | 5,451 | (11,330 | ) | 16,001 | (11,514 | ) | |||||||||||||||
Reversal of non-credit related losses on debt securities not expected to be sold, net of tax expense of $3,335 | — | — | 6,192 | — | |||||||||||||||||
Reclassification adjustment for gains included in net income, net of tax expense of $270, $19, $3,581 and $258 | (504 | ) | (35 | ) | (6,654 | ) | (480 | ) | |||||||||||||
Derivative instruments: | |||||||||||||||||||||
Unrealized gains (losses) arising during the period, net of tax expense (benefit) of $1,248, $(2,080), $2,365 and $(2,453) | 2,317 | (3,863 | ) | 4,391 | (4,556 | ) | |||||||||||||||
Pension and postretirement benefit obligations: | |||||||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $117, $188, $234 and $375 | 218 | 349 | 435 | 697 | |||||||||||||||||
Other comprehensive income (loss) | 7,482 | (14,879 | ) | 20,365 | (15,853 | ) | |||||||||||||||
Comprehensive income | $ | 42,313 | $ | 14,314 | $ | 89,720 | $ | 41,878 | |||||||||||||
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: | |||||||||||||||||||||
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 | ||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Balance at beginning of period | $ | (11,874 | ) | $ | (6,192 | ) | $ | (6,586 | ) | $ | (32,272 | ) | $ | (56,924 | ) | ||||||
Other comprehensive income (loss) before reclassifications | 16,001 | 6,192 | 4,391 | 435 | 27,019 | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | (6,654 | ) | — | — | — | (6,654 | ) | ||||||||||||||
Net current period other comprehensive income (loss) | 9,347 | 6,192 | 4,391 | 435 | 20,365 | ||||||||||||||||
Balance at end of period | $ | (2,527 | ) | $ | — | $ | (2,195 | ) | $ | (31,837 | ) | $ | (36,559 | ) | |||||||
Summary of Reclassifications Out of Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||
The following table presents a summary of the reclassifications out of accumulated other comprehensive income: | |||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Details About Accumulated Other | Amount | Affected Line Item | |||||||||||||||||||
Reclassified from | |||||||||||||||||||||
Comprehensive Income Component | Other | in the Statement | |||||||||||||||||||
Comprehensive | |||||||||||||||||||||
Income | where Net Income | ||||||||||||||||||||
is Presented | |||||||||||||||||||||
Unrealized net gains on securities available for sale (1) | $ | (10,237 | ) | Net securities gains | |||||||||||||||||
(3,583 | ) | Tax expense | |||||||||||||||||||
$ | (6,654 | ) | |||||||||||||||||||
-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_COMMON_SHARE_Tabl
EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Computation of Basic and Diluted Earnings Per Common Share | ' | ||||||||||||||||
The following table sets forth the computation of basic and diluted earnings per common share: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net income | $ | 34,831 | $ | 29,193 | $ | 69,355 | $ | 57,731 | |||||||||
Preferred stock dividends | (2,010 | ) | — | (4,332 | ) | — | |||||||||||
Net income available to common stockholders | $ | 32,821 | $ | 29,193 | $ | 65,023 | $ | 57,731 | |||||||||
Basic weighted average common shares outstanding | 166,185,080 | 144,380,873 | 164,196,783 | 142,028,751 | |||||||||||||
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,682,528 | 1,463,291 | 1,731,577 | 1,436,919 | |||||||||||||
Diluted weighted average common shares outstanding | 167,867,608 | 145,844,164 | 165,928,360 | 143,465,670 | |||||||||||||
Earnings per common share: | |||||||||||||||||
Basic | $ | 0.2 | $ | 0.2 | $ | 0.4 | $ | 0.41 | |||||||||
Diluted | $ | 0.2 | $ | 0.2 | $ | 0.39 | $ | 0.4 | |||||||||
CASH_FLOW_INFORMATION_Tables
CASH FLOW INFORMATION (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Summary of Cash Flow Information | ' | ||||||||
Following is a summary of supplemental cash flow information: | |||||||||
Six Months Ended June 30 | 2014 | 2013 | |||||||
Interest paid on deposits and other borrowings | $ | 21,366 | $ | 25,127 | |||||
Income taxes paid | 1,000 | 16,000 | |||||||
Transfers of loans to other real estate owned | 6,660 | 8,780 | |||||||
Financing of other real estate owned sold | 259 | 262 |
BUSINESS_SEGMENTS_Tables
BUSINESS SEGMENTS (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
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 | Management | Finance | and Other | ||||||||||||||||||||||
At or for the Three Months Ended June 30, 2014 | |||||||||||||||||||||||||
Interest income | $ | 113,161 | $ | — | $ | 25 | $ | 9,578 | $ | 1,676 | $ | 124,440 | |||||||||||||
Interest expense | 8,730 | — | — | 809 | 709 | 10,248 | |||||||||||||||||||
Net interest income | 104,431 | — | 25 | 8,769 | 967 | 114,192 | |||||||||||||||||||
Provision for loan losses | 8,425 | — | — | 1,778 | 202 | 10,405 | |||||||||||||||||||
Non-interest income | 27,420 | 8,033 | 2,999 | 741 | (3 | ) | 39,190 | ||||||||||||||||||
Non-interest expense | 75,281 | 6,452 | 2,911 | 4,880 | 599 | 90,123 | |||||||||||||||||||
Intangible amortization | 2,288 | 72 | 101 | — | — | 2,461 | |||||||||||||||||||
Income tax expense (benefit) | 14,048 | 548 | 8 | 1,097 | (139 | ) | 15,562 | ||||||||||||||||||
Net income (loss) | 31,809 | 961 | 4 | 1,755 | 302 | 34,831 | |||||||||||||||||||
Total assets | 14,842,988 | 21,828 | 20,785 | 182,401 | (48,755 | ) | 15,019,247 | ||||||||||||||||||
Total intangibles | 830,809 | 10,864 | 10,324 | 1,809 | — | 853,806 | |||||||||||||||||||
Community | Wealth | Insurance | Consumer Finance | Parent | Consolidated | ||||||||||||||||||||
Banking | Management | and Other | |||||||||||||||||||||||
At or for the Three Months Ended June 30, 2013 | |||||||||||||||||||||||||
Interest income | $ | 97,217 | $ | — | $ | 27 | $ | 9,304 | $ | 1,293 | $ | 107,841 | |||||||||||||
Interest expense | 7,979 | — | — | 838 | 2,278 | 11,095 | |||||||||||||||||||
Net interest income | 89,238 | — | 27 | 8,466 | (985 | ) | 96,746 | ||||||||||||||||||
Provision for loan losses | 6,031 | — | — | 1,678 | 194 | 7,903 | |||||||||||||||||||
Non-interest income | 25,940 | 7,263 | 3,243 | 719 | (468 | ) | 36,697 | ||||||||||||||||||
Non-interest expense | 67,336 | 6,402 | 2,810 | 4,823 | 685 | 82,056 | |||||||||||||||||||
Intangible amortization | 1,893 | 76 | 102 | — | — | 2,071 | |||||||||||||||||||
Income tax expense (benefit) | 11,762 | 293 | 130 | 1,041 | (1,006 | ) | 12,220 | ||||||||||||||||||
Net income (loss) | 28,156 | 492 | 228 | 1,643 | (1,326 | ) | 29,193 | ||||||||||||||||||
Total assets | 12,387,990 | 19,201 | 20,666 | 179,396 | (33,862 | ) | 12,573,391 | ||||||||||||||||||
Total intangibles | 723,282 | 11,160 | 10,729 | 1,809 | — | 746,980 | |||||||||||||||||||
At or for the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||
Interest income | $ | 219,852 | $ | — | $ | 50 | $ | 18,943 | $ | 3,475 | $ | 242,320 | |||||||||||||
Interest expense | 16,978 | — | — | 1,655 | 1,670 | 20,303 | |||||||||||||||||||
Net interest income | 202,874 | — | 50 | 17,288 | 1,805 | 222,017 | |||||||||||||||||||
Provision for loan losses | 13,721 | — | — | 3,235 | 455 | 17,411 | |||||||||||||||||||
Non-interest income | 59,333 | 15,356 | 7,209 | 1,401 | (2,039 | ) | 81,260 | ||||||||||||||||||
Non-interest expense | 152,147 | 12,744 | 5,957 | 9,817 | 1,341 | 182,006 | |||||||||||||||||||
Intangible amortization | 4,398 | 144 | 202 | — | — | 4,744 | |||||||||||||||||||
Income tax expense (benefit) | 27,391 | 899 | 393 | 2,170 | (1,092 | ) | 29,761 | ||||||||||||||||||
Net income (loss) | 64,550 | 1,569 | 707 | 3,467 | (938 | ) | 69,355 | ||||||||||||||||||
Total assets | 14,842,988 | 21,828 | 20,785 | 182,401 | (48,755 | ) | 15,019,247 | ||||||||||||||||||
Total intangibles | 830,809 | 10,864 | 10,324 | 1,809 | — | 853,806 | |||||||||||||||||||
At or for the Six Months Ended June 30, 2013 | |||||||||||||||||||||||||
Interest income | $ | 191,268 | $ | — | $ | 55 | $ | 18,320 | $ | 3,316 | $ | 212,959 | |||||||||||||
Interest expense | 16,897 | — | — | 1,694 | 4,526 | 23,117 | |||||||||||||||||||
Net interest income | 174,371 | — | 55 | 16,626 | (1,210 | ) | 189,842 | ||||||||||||||||||
Provision for loan losses | 11,851 | — | — | 3,205 | 388 | 15,444 | |||||||||||||||||||
Non-interest income | 49,638 | 14,378 | 6,802 | 1,348 | (1,857 | ) | 70,309 | ||||||||||||||||||
Non-interest expense | 130,304 | 12,488 | 5,621 | 9,339 | 1,181 | 158,933 | |||||||||||||||||||
Intangible amortization | 3,641 | 152 | 203 | — | — | 3,996 | |||||||||||||||||||
Income tax expense (benefit) | 22,934 | 643 | 369 | 2,089 | (1,988 | ) | 24,047 | ||||||||||||||||||
Net income (loss) | 55,279 | 1,095 | 664 | 3,341 | (2,648 | ) | 57,731 | ||||||||||||||||||
Total assets | 12,387,990 | 19,201 | 20,666 | 179,396 | (33,862 | ) | 12,573,391 | ||||||||||||||||||
Total intangibles | 723,282 | 11,160 | 10,729 | 1,809 | — | 746,980 |
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
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 | ||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Assets measured at fair value | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury | $ | — | $ | 9,876 | $ | — | $ | 9,876 | |||||||||||||
U.S. government-sponsored entities | — | 291,955 | — | 291,955 | |||||||||||||||||
Residential mortgage-backed securities | |||||||||||||||||||||
Agency mortgage-backed securities | — | 435,075 | — | 435,075 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 604,513 | — | 604,513 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 14 | 1,611 | 1,625 | |||||||||||||||||
Commercial mortgage-backed securities | — | 9,061 | — | 9,061 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 14,411 | — | 14,411 | |||||||||||||||||
Other debt securities | — | 16,473 | — | 16,473 | |||||||||||||||||
— | 1,381,378 | 1,611 | 1,382,989 | ||||||||||||||||||
Available for sale equity securities: | |||||||||||||||||||||
Financial services industry | 88 | 636 | 443 | 1,167 | |||||||||||||||||
Insurance services industry | 117 | — | — | 117 | |||||||||||||||||
205 | 636 | 443 | 1,284 | ||||||||||||||||||
205 | 1,382,014 | 2,054 | 1,384,273 | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | 38,379 | — | 38,379 | |||||||||||||||||
Not for trading | — | 859 | — | 859 | |||||||||||||||||
— | 39,238 | — | 39,238 | ||||||||||||||||||
$ | 205 | $ | 1,421,252 | $ | 2,054 | $ | 1,423,511 | ||||||||||||||
Liabilities measured at fair value | |||||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | $ | 38,297 | — | $ | 38,297 | |||||||||||||||
Not for trading | — | 4,236 | — | 4,236 | |||||||||||||||||
— | $ | 42,533 | — | $ | 42,533 | ||||||||||||||||
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 | ||||||||||||||||
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 | ||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Balance at beginning of period | $ | 31,595 | — | $ | 410 | $ | 1,744 | $ | 33,749 | ||||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | 13,766 | — | — | — | 13,766 | ||||||||||||||||
Included in other comprehensive income | 5,608 | — | 33 | (1 | ) | 5,640 | |||||||||||||||
Accretion included in earnings | 657 | — | — | 2 | 659 | ||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | — | ||||||||||||||||
Issuances | — | — | — | — | — | ||||||||||||||||
Sales/redemptions | (51,527 | ) | — | — | — | (51,527 | ) | ||||||||||||||
Settlements | (99 | ) | — | — | (134 | ) | (233 | ) | |||||||||||||
Transfers from Level 3 | — | — | — | — | — | ||||||||||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||||
Balance at end of period | $ | — | — | $ | 443 | $ | 1,611 | $ | 2,054 | ||||||||||||
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 | |||||||||||
Additional Information about Assets Measured at Fair Value on Non-Recurring Basis | ' | ||||||||||||||||||||
For assets measured at fair value on a non-recurring basis still held at the balance sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Impaired loans | — | $ | 2,154 | $ | 1,922 | $ | 4,076 | ||||||||||||||
Other real estate owned | — | 3,831 | 2,457 | 6,288 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Impaired loans | — | 3,235 | 59 | 3,294 | |||||||||||||||||
Other real estate owned | — | 4,485 | 14,957 | 19,442 | |||||||||||||||||
Fair Values of Corporation's Financial Instruments | ' | ||||||||||||||||||||
The fair values of the Corporation’s financial instruments are as follows: | |||||||||||||||||||||
Carrying | Fair Value Measurements | ||||||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 270,720 | $ | 270,720 | $ | 270,720 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,384,273 | 1,384,273 | 205 | 1,382,014 | 2,054 | ||||||||||||||||
Securities held to maturity | 1,427,852 | 1,439,241 | — | 1,433,404 | 5,837 | ||||||||||||||||
Net loans, including loans held for sale | 10,219,830 | 10,041,484 | — | — | 10,041,484 | ||||||||||||||||
Bank owned life insurance | 309,750 | 315,714 | 315,714 | — | — | ||||||||||||||||
Derivative assets | 39,238 | 39,238 | — | 39,238 | — | ||||||||||||||||
Accrued interest receivable | 37,036 | 37,036 | 37,036 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 11,057,770 | 11,065,652 | 8,359,933 | 2,705,719 | — | ||||||||||||||||
Short-term borrowings | 1,504,510 | 1,504,510 | 1,504,510 | — | — | ||||||||||||||||
Long-term debt | 335,854 | 338,373 | — | — | 338,373 | ||||||||||||||||
Junior subordinated debt | 58,220 | 59,156 | — | — | 59,156 | ||||||||||||||||
Derivative liabilities | 42,533 | 42,533 | — | 42,533 | — | ||||||||||||||||
Accrued interest payable | 5,998 | 5,998 | 5,998 | — | — | ||||||||||||||||
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 held for sale | 9,402,448 | 9,243,780 | — | — | 9,243,780 | ||||||||||||||||
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 | — | — |
Business_Additional_Informatio
Business - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
Office | |
Location | |
State | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Number of states, Company operating financial services | 6 |
Number of metropolitan areas, Company operating financial services | 3 |
Number of consumer finance offices | 71 |
Number of banking offices | 283 |
Securities_Offerings_Additiona
Securities Offerings - Additional Information (Detail) (USD $) | 0 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Nov. 14, 2013 | Nov. 01, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Stockholders' Equity [Line Items] | ' | ' | ' | ' |
Public offering, common stock | ' | 4,693,876 | ' | ' |
Common stock per share price | ' | $12.25 | ' | ' |
Net proceeds from common stock offerings | $54,434 | ' | $6,376 | $1,973 |
Net proceeds from preferred stock offerings | $106,882 | ' | ' | ' |
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 | ' | ' | ' |
Mergers_and_Acquisitions_Addit
Mergers and Acquisitions - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Apr. 08, 2014 | Dec. 31, 2013 | Feb. 15, 2014 | Oct. 12, 2013 | Apr. 06, 2013 |
In Thousands, except Share data, unless otherwise specified | BCSB Bancorp, Inc. (BCSB) [Member] | PVF Capital Corp (PVF) [Member] | Annapolis Bancorp, Inc. [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Assets acquired as a result of merger | ' | $390,000 | ' | $597,522 | $741,058 | $430,475 |
Value of acquisition | ' | 94,000 | ' | ' | ' | ' |
Exchange ratio | ' | 1.781 | ' | ' | ' | ' |
Loans acquired as a result of merger | ' | ' | ' | 308,389 | 512,795 | 256,212 |
Deposits acquired as a result of merger | ' | ' | ' | 532,197 | 628,205 | 349,370 |
Value of acquisition | ' | ' | ' | 80,544 | 109,856 | 56,300 |
Common shares issued | ' | ' | ' | 6,730,597 | 8,893,598 | 4,641,412 |
Common shares acquired | ' | ' | ' | 3,235,961 | 26,119,398 | 4,060,802 |
Goodwill recorded as a result of merger | 805,514 | ' | 764,248 | 41,500 | 52,605 | 35,854 |
Core deposit intangibles recorded as result of the acquisition | ' | ' | ' | 6,591 | 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 | ' | ' | ' | ' | ' | 342,564 |
Warrant expiration date | ' | ' | ' | ' | ' | 30-Jan-19 |
Warrant exercise price | ' | ' | ' | ' | ' | $3.57 |
Securities_Schedule_of_Amortiz
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | $1,388,194 | $1,169,482 |
Securities Available For Sale, Gross Unrealized Gains | 10,536 | 11,463 |
Securities Available For Sale, Gross Unrealized Losses | -14,457 | -39,295 |
Securities Available For Sale, Fair Value | 1,382,989 | 1,139,524 |
Securities Available For Sale, Fair Value | 1,284 | 2,126 |
Assets measured at fair value, Available for sale securities | 1,384,273 | 1,141,650 |
U.S. Treasury [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 9,858 | ' |
Securities Available For Sale, Gross Unrealized Gains | 18 | ' |
Securities Available For Sale, Gross Unrealized Losses | ' | ' |
Securities Available For Sale, Fair Value | 9,876 | ' |
U.S. Government-Sponsored Entities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 293,306 | 336,763 |
Securities Available For Sale, Gross Unrealized Gains | 784 | 126 |
Securities Available For Sale, Gross Unrealized Losses | -2,135 | -5,904 |
Securities Available For Sale, Fair Value | 291,955 | 330,985 |
Agency Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 427,873 | 247,880 |
Securities Available For Sale, Gross Unrealized Gains | 7,230 | 4,304 |
Securities Available For Sale, Gross Unrealized Losses | -28 | -1,303 |
Securities Available For Sale, Fair Value | 435,075 | 250,881 |
Assets measured at fair value, Available for sale securities | 435,075 | ' |
Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 614,983 | 511,098 |
Securities Available For Sale, Gross Unrealized Gains | 1,130 | 895 |
Securities Available For Sale, Gross Unrealized Losses | -11,600 | -20,794 |
Securities Available For Sale, Fair Value | 604,513 | 491,199 |
Assets measured at fair value, Available for sale securities | 604,513 | ' |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 1,612 | 1,747 |
Securities Available For Sale, Gross Unrealized Gains | 13 | 15 |
Securities Available For Sale, Gross Unrealized Losses | ' | ' |
Securities Available For Sale, Fair Value | 1,625 | 1,762 |
Assets measured at fair value, Available for sale securities | 1,625 | ' |
Commercial Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 9,059 | ' |
Securities Available For Sale, Gross Unrealized Gains | 2 | ' |
Securities Available For Sale, Gross Unrealized Losses | ' | ' |
Securities Available For Sale, Fair Value | 9,061 | ' |
Assets measured at fair value, Available for sale securities | 9,061 | ' |
States of the U.S. and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 13,913 | 16,842 |
Securities Available For Sale, Gross Unrealized Gains | 572 | 410 |
Securities Available For Sale, Gross Unrealized Losses | -74 | -250 |
Securities Available For Sale, Fair Value | 14,411 | 17,002 |
Collateralized Debt Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | ' | 37,203 |
Securities Available For Sale, Gross Unrealized Gains | ' | 4,507 |
Securities Available For Sale, Gross Unrealized Losses | ' | -10,115 |
Securities Available For Sale, Fair Value | ' | 31,595 |
Other Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 16,559 | 16,505 |
Securities Available For Sale, Gross Unrealized Gains | 534 | 524 |
Securities Available For Sale, Gross Unrealized Losses | -620 | -929 |
Securities Available For Sale, Fair Value | 16,473 | 16,100 |
Debt securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 1,387,163 | 1,168,038 |
Securities Available For Sale, Gross Unrealized Gains | 10,283 | 10,781 |
Securities Available For Sale, Gross Unrealized Losses | -14,457 | -39,295 |
Securities Available For Sale, Fair Value | 1,382,989 | 1,139,524 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities Available For Sale, Amortized Cost | 1,031 | 1,444 |
Securities Available For Sale, Gross Unrealized Gains | 253 | 682 |
Securities Available For Sale, Gross Unrealized Losses | ' | ' |
Securities Available For Sale, Fair Value | 1,284 | 2,126 |
Assets measured at fair value, Available for sale securities | $1,284 | ' |
Securities_Schedule_of_Amortiz1
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | $1,427,852 | $1,199,169 |
Securities Held To Maturity, Gross Unrealized Gains | 23,001 | 15,484 |
Securities Held To Maturity, Gross Unrealized Losses | -11,612 | -25,090 |
Securities Held To Maturity, Fair Value | 1,439,241 | 1,189,563 |
U.S. Treasury [Member] | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | 502 | 503 |
Securities Held To Maturity, Gross Unrealized Gains | 138 | 99 |
Securities Held To Maturity, Gross Unrealized Losses | ' | ' |
Securities Held To Maturity, Fair Value | 640 | 602 |
U.S. Government-Sponsored Entities [Member] | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | 101,691 | 43,322 |
Securities Held To Maturity, Gross Unrealized Gains | 536 | 180 |
Securities Held To Maturity, Gross Unrealized Losses | -720 | -1,151 |
Securities Held To Maturity, Fair Value | 101,507 | 42,351 |
Agency Mortgage-Backed Securities [Member] | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | 715,611 | 628,681 |
Securities Held To Maturity, Gross Unrealized Gains | 17,309 | 12,281 |
Securities Held To Maturity, Gross Unrealized Losses | -698 | -6,032 |
Securities Held To Maturity, Fair Value | 732,222 | 634,930 |
Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | 458,232 | 385,408 |
Securities Held To Maturity, Gross Unrealized Gains | 2,054 | 764 |
Securities Held To Maturity, Gross Unrealized Losses | -9,778 | -15,844 |
Securities Held To Maturity, Fair Value | 450,508 | 370,328 |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | 5,823 | 6,852 |
Securities Held To Maturity, Gross Unrealized Gains | 21 | 44 |
Securities Held To Maturity, Gross Unrealized Losses | -7 | -4 |
Securities Held To Maturity, Fair Value | 5,837 | 6,892 |
Commercial Mortgage-Backed Securities [Member] | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | 2,227 | 2,241 |
Securities Held To Maturity, Gross Unrealized Gains | 147 | 124 |
Securities Held To Maturity, Gross Unrealized Losses | ' | -37 |
Securities Held To Maturity, Fair Value | 2,374 | 2,328 |
States of the U.S. and Political Subdivisions [Member] | ' | ' |
Investment Securities Held To Maturity [Line Items] | ' | ' |
Securities Held To Maturity, Amortized Cost | 143,766 | 132,162 |
Securities Held To Maturity, Gross Unrealized Gains | 2,796 | 1,992 |
Securities Held To Maturity, Gross Unrealized Losses | -409 | -2,022 |
Securities Held To Maturity, Fair Value | $146,153 | $132,132 |
Securities_Gross_Gains_and_Gro
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' | ' |
Gross gains | $739 | $83 | $18,748 | $1,115 |
Gross losses | 37 | -15 | -8,511 | -363 |
Total | $776 | $68 | $10,237 | $752 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
Security | Security | Securities | State of Pennsylvania [Member] | Pooled TPS [Member] | Other Securities [Member] | ||||
Securities | |||||||||
Schedule Of Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of pooled issue securities | ' | ' | ' | ' | 23 | ' | ' | ' | ' |
Net proceeds from sale of securities | ' | ' | $150,055 | $21,919 | ' | ' | ' | $51,540 | ' |
Net securities gains (loss) | 776 | 68 | 10,237 | 752 | ' | ' | ' | 13,766 | -3,529 |
Securities pledged to secure public deposits, trust deposits and for other purposes, carrying value | 1,047,174 | ' | 1,047,174 | ' | ' | 909,548 | ' | ' | ' |
Securities pledged as collateral for short-term borrowings, carrying value | 758,343 | ' | 758,343 | ' | ' | 860,279 | ' | ' | ' |
Number of single-issuer securities | 4 | ' | 4 | ' | ' | ' | ' | ' | ' |
Estimated fair value of single-issue trust preferred securities | 6,263 | ' | 6,263 | ' | ' | ' | ' | ' | ' |
Amortized cost of single-issue trust preferred securities | 6,883 | ' | 6,883 | ' | ' | ' | ' | ' | ' |
Impairment losses on securities | ' | ' | 0 | 0 | ' | ' | ' | ' | ' |
Municipal bond portfolio, value | 158,177 | ' | 158,177 | ' | ' | ' | ' | ' | ' |
Percent of municipal bond portfolio rated A or better | 99.20% | ' | 99.20% | ' | ' | ' | ' | ' | ' |
Percent of municipal bond portfolio, general obligation bonds | 99.00% | ' | 99.00% | ' | ' | ' | ' | ' | ' |
Percent of municipal bonds | ' | ' | ' | ' | ' | ' | 82.30% | ' | ' |
Average holding size of municipal bond | $1,069 | ' | $1,069 | ' | ' | ' | ' | ' | ' |
Percent of portfolio with credit support | 89.30% | ' | 89.30% | ' | ' | ' | ' | ' | ' |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
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 | 243,965 | ' |
Available for Sale, Due from five to ten years, Amortized Cost | 82,788 | ' |
Available for Sale, Due after ten years, Amortized Cost | 6,883 | ' |
Available for Sale, with contractual maturities, Amortized Cost | 333,636 | ' |
Total securities available for sale, Amortized Cost | 1,388,194 | 1,169,482 |
Available for Sale, Due in one year or less, Fair Value | ' | ' |
Available for Sale, Due from one to five years, Fair Value | 243,570 | ' |
Available for Sale, Due from five to ten years, Fair Value | 82,882 | ' |
Available for Sale, Due after ten years, Fair Value | 6,263 | ' |
Available for Sale, with contractual maturities, Fair Value | 332,715 | ' |
Total available for sale Securities, Fair Value | 1,384,273 | 1,141,650 |
Held to Maturity, Due in one year or less, Amortized Cost | 3,435 | ' |
Held to Maturity, Due from one to five years, Amortized Cost | 90,689 | ' |
Held to Maturity, Due from five to ten years, Amortized Cost | 76,059 | ' |
Held to Maturity, Due after ten years, Amortized Cost | 75,776 | ' |
Securities Held To Maturity, with contractual maturities, Amortized Cost | 245,959 | ' |
Held to Maturity, with contractual maturities, Amortized Cost | 1,427,852 | 1,199,169 |
Held to Maturity, Due in one year or less, Fair Value | 3,487 | ' |
Held to Maturity, Due from one to five years, Fair Value | 90,216 | ' |
Held to Maturity, Due from five to ten years, Fair Value | 77,683 | ' |
Held to Maturity, Due after ten years, Fair Value | 76,914 | ' |
Securities Held To Maturity, with contractual maturities, Fair Value | 248,300 | ' |
Held to Maturity, with contractual maturities, Fair Value | 1,439,241 | 1,189,563 |
Agency Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Total securities available for sale, Amortized Cost | 427,873 | 247,880 |
Total available for sale Securities, Fair Value | 435,075 | ' |
Held to Maturity, with contractual maturities, Amortized Cost | 715,611 | 628,681 |
Held to Maturity, with contractual maturities, Fair Value | 732,222 | 634,930 |
Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Total securities available for sale, Amortized Cost | 614,983 | 511,098 |
Total available for sale Securities, Fair Value | 604,513 | ' |
Held to Maturity, with contractual maturities, Amortized Cost | 458,232 | 385,408 |
Held to Maturity, with contractual maturities, Fair Value | 450,508 | 370,328 |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Total securities available for sale, Amortized Cost | 1,612 | 1,747 |
Total available for sale Securities, Fair Value | 1,625 | ' |
Held to Maturity, with contractual maturities, Amortized Cost | 5,823 | 6,852 |
Held to Maturity, with contractual maturities, Fair Value | 5,837 | 6,892 |
Commercial Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Total securities available for sale, Amortized Cost | 9,059 | ' |
Total available for sale Securities, Fair Value | 9,061 | ' |
Held to Maturity, with contractual maturities, Amortized Cost | 2,227 | 2,241 |
Held to Maturity, with contractual maturities, Fair Value | 2,374 | 2,328 |
Equity Securities [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Total securities available for sale, Amortized Cost | 1,031 | 1,444 |
Total available for sale Securities, Fair Value | 1,284 | ' |
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 $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Security | Security |
Schedule Of Securities [Line Items] | ' | ' |
Number of available for sale securities, Less than 1 year | 15 | 54 |
Number of available for sale securities, Greater than 1 year | 29 | 14 |
Number of available for sale securities | 44 | 68 |
Securities Available For Sale, Less than 12 Months, Fair Value | $236,060 | $734,257 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -1,263 | -26,101 |
Securities Available For Sale, 12 Months or More, Fair Value | 364,659 | 48,144 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -13,194 | -13,194 |
Securities Available For Sale, Fair Value, Total | 600,719 | 782,401 |
Securities Available For Sale, Unrealized Losses, Total | -14,457 | -39,295 |
Number of held to maturity securities | 60 | 80 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 115,779 | 669,220 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -403 | -24,379 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 365,291 | 15,674 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -11,209 | -711 |
Securities Held To Maturity, Fair Value, Total | 481,070 | 684,894 |
Securities Held To Maturity, Unrealized Losses, Total | -11,612 | -25,090 |
Less than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 23 | 78 |
Greater than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 37 | 2 |
U.S. Government-Sponsored Entities [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of available for sale securities, Less than 1 year | 2 | 17 |
Number of available for sale securities, Greater than 1 year | 8 | ' |
Number of available for sale securities | 10 | 17 |
Securities Available For Sale, Less than 12 Months, Fair Value | 25,647 | 232,962 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -38 | -5,904 |
Securities Available For Sale, 12 Months or More, Fair Value | 113,891 | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -2,097 | ' |
Securities Available For Sale, Fair Value, Total | 139,538 | 232,962 |
Securities Available For Sale, Unrealized Losses, Total | -2,135 | -5,904 |
Number of held to maturity securities | 5 | 3 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 30,103 | 24,513 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -14 | -530 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 39,330 | 14,378 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -706 | -621 |
Securities Held To Maturity, Fair Value, Total | 69,433 | 38,891 |
Securities Held To Maturity, Unrealized Losses, Total | -720 | -1,151 |
U.S. Government-Sponsored Entities [Member] | Less than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 2 | 2 |
U.S. Government-Sponsored Entities [Member] | Greater than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 3 | 1 |
Agency Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of available for sale securities, Less than 1 year | 2 | 9 |
Number of available for sale securities, Greater than 1 year | ' | ' |
Number of available for sale securities | 2 | 9 |
Securities Available For Sale, Less than 12 Months, Fair Value | 29,988 | 108,284 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -28 | -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 | 29,988 | 108,284 |
Securities Available For Sale, Unrealized Losses, Total | -28 | -1,303 |
Number of held to maturity securities | 9 | 25 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 13,788 | 308,864 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -8 | -5,942 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 87,376 | 1,296 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -690 | -90 |
Securities Held To Maturity, Fair Value, Total | 101,164 | 310,160 |
Securities Held To Maturity, Unrealized Losses, Total | -698 | -6,032 |
Agency Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 1 | 24 |
Agency Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 8 | 1 |
Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of available for sale securities, Less than 1 year | 10 | 26 |
Number of available for sale securities, Greater than 1 year | 16 | 2 |
Number of available for sale securities | 26 | 28 |
Securities Available For Sale, Less than 12 Months, Fair Value | 178,355 | 389,989 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -1,187 | -18,644 |
Securities Available For Sale, 12 Months or More, Fair Value | 243,377 | 34,229 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -10,413 | -2,150 |
Securities Available For Sale, Fair Value, Total | 421,732 | 424,218 |
Securities Available For Sale, Unrealized Losses, Total | -11,600 | -20,794 |
Number of held to maturity securities | 20 | 21 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 50,237 | 301,312 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -281 | -15,844 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 224,392 | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -9,497 | ' |
Securities Held To Maturity, Fair Value, Total | 274,629 | 301,312 |
Securities Held To Maturity, Unrealized Losses, Total | -9,778 | -15,844 |
Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 4 | 21 |
Agency Collateralized Mortgage Obligations [Member] | Greater than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 16 | ' |
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 | ' | ' |
States of the U.S. and Political Subdivisions [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of available for sale securities, Less than 1 year | 1 | 2 |
Number of available for sale securities, Greater than 1 year | 1 | ' |
Number of available for sale securities | 2 | 2 |
Securities Available For Sale, Less than 12 Months, Fair Value | 2,070 | 3,022 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -10 | -250 |
Securities Available For Sale, 12 Months or More, Fair Value | 1,128 | ' |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -64 | ' |
Securities Available For Sale, Fair Value, Total | 3,198 | 3,022 |
Securities Available For Sale, Unrealized Losses, Total | -74 | -250 |
Number of held to maturity securities | 23 | 27 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 18,846 | 31,537 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -93 | -2,022 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 14,193 | ' |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -316 | ' |
Securities Held To Maturity, Fair Value, Total | 33,039 | 31,537 |
Securities Held To Maturity, Unrealized Losses, Total | -409 | -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 | 13 | 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 | 10 | ' |
Other 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 | 6,263 | 5,950 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -620 | -929 |
Securities Available For Sale, Fair Value, Total | 6,263 | 5,950 |
Securities Available For Sale, Unrealized Losses, Total | -620 | -929 |
Collateralized Debt Obligations [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 | ' | 8 |
Number of available for sale securities | ' | 8 |
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 | ' | 7,965 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | ' | -10,115 |
Securities Available For Sale, Fair Value, Total | ' | 7,965 |
Securities Available For Sale, Unrealized Losses, Total | ' | -10,115 |
Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 3 | 3 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 2,805 | 2,010 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -7 | -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 | 2,805 | 2,010 |
Securities Held To Maturity, Unrealized Losses, Total | ($7) | ($4) |
Non-Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ' | ' |
Schedule Of Securities [Line Items] | ' | ' |
Number of held to maturity securities | 3 | 3 |
Non-Agency Collateralized Mortgage Obligations [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 $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | $17,182 | $17,367 |
Loss where impairment was not previously recognized | ' | ' |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | -17,155 | -212 |
Ending balance | 27 | 17,155 |
Collateralized Debt Obligations [Member] | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | 17,155 | 17,155 |
Loss where impairment was not previously recognized | ' | ' |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | -17,155 | ' |
Ending balance | ' | 17,155 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | ' | 212 |
Loss where impairment was not previously recognized | ' | ' |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | ' | -212 |
Ending balance | ' | ' |
Equity Securities [Member] | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
Beginning balance | 27 | ' |
Loss where impairment was not previously recognized | ' | ' |
Additional loss where impairment was previously recognized | ' | ' |
Reduction due to credit impaired securities sold | ' | ' |
Ending balance | $27 | ' |
Federal_Home_Loan_Bank_Stock_A
Federal Home Loan Bank Stock - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Federal Home Loan Bank stock | $48,425 | $23,636 |
Recovered_Sheet1
Loans and Allowance for Loan Losses - Summary of Loans, Net of Unearned Income (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | $10,333,873 | $9,506,094 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 3,577,933 | 3,245,209 |
Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 2,103,896 | 1,881,474 |
Commercial Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 164,676 | 158,895 |
Total Commercial Loans and Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 5,846,505 | 5,285,578 |
Direct Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,512,149 | 1,467,236 |
Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,145,286 | 1,086,739 |
Indirect Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 729,513 | 655,587 |
Consumer Lines of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,037,519 | 965,771 |
Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 62,901 | 45,183 |
Originated Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 8,830,079 | 8,154,765 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 2,840,836 | 2,640,428 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,997,008 | 1,761,668 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 164,676 | 158,895 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 5,002,520 | 4,560,991 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,438,347 | 1,387,995 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 718,332 | 678,227 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 726,066 | 649,701 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 881,913 | 832,668 |
Originated Loans [Member] | Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 62,901 | 45,183 |
Acquired Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 1,503,794 | 1,351,329 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 737,097 | 604,781 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 106,888 | 119,806 |
Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | ' | ' |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 843,985 | 724,587 |
Acquired Loans [Member] | Direct Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 73,802 | 79,241 |
Acquired Loans [Member] | Residential Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 426,954 | 408,512 |
Acquired Loans [Member] | Indirect Installment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 3,447 | 5,886 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | 155,606 | 133,103 |
Acquired Loans [Member] | Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net of unearned income | ' | ' |
Recovered_Sheet2
Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | $10,333,873 | ' | $10,333,873 | ' | $9,506,094 |
Outstanding contractual balance receivable of acquired loans | 1,601,476 | ' | 1,601,476 | ' | 1,449,227 |
Commercial construction loans | 274,489 | ' | 274,489 | ' | 252,842 |
Payoffs received on loans in excess of expected cash flows | ' | ' | 242 | ' | 440 |
Threshold period past due for default status of trade accounts receivable | '90 days | '90 days | '90 days | '90 days | ' |
Minimum corporation reserves for commercial loan | 500 | ' | 500 | ' | ' |
Minimum amount to allocate specific valuation allowance | 500 | ' | 500 | ' | ' |
Recorded Investment | 5,228 | ' | 5,228 | ' | ' |
Allowance for loan losses | ' | ' | 5,560 | ' | 5,900 |
Restructured loans returned to performing status | ' | ' | 2,915 | ' | ' |
Valuation for impairment of loans with pooled reserves | 500 | ' | 500 | ' | 500 |
Pooled reserves for all other classes of loans | ' | ' | 1,062 | ' | 1,005 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | 3,577,933 | ' | 3,577,933 | ' | 3,245,209 |
Recorded Investment | 40,788 | ' | 40,788 | ' | 44,075 |
Allowance for loan losses | ' | ' | 2,911 | ' | 3,093 |
Commercial Real Estate [Member] | FLORIDA [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Commercial real estate loans | 32,935 | ' | 32,935 | ' | 39,379 |
Percentage of loan portfolio | 0.30% | ' | 0.30% | ' | 0.40% |
Consumer Lines of Credit [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | 1,037,519 | ' | 1,037,519 | ' | 965,771 |
Percentage of loan portfolio | 1.70% | ' | 1.70% | ' | 1.90% |
Consumer loans | 175,802 | ' | 175,802 | ' | 179,970 |
Recorded Investment | 1,604 | ' | 1,604 | ' | 597 |
Commercial Construction Loans [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Percentage of loan portfolio | 2.70% | ' | 2.70% | ' | 2.70% |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | 2,103,896 | ' | 2,103,896 | ' | 1,881,474 |
Recorded Investment | 9,837 | ' | 9,837 | ' | 7,423 |
Allowance for loan losses | ' | ' | 674 | ' | 786 |
Direct Installment [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | 1,512,149 | ' | 1,512,149 | ' | 1,467,236 |
Recorded Investment | 12,520 | ' | 12,520 | ' | 10,577 |
Allowance for loan losses | ' | ' | 1,405 | ' | 727 |
Residential Mortgages [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | 1,145,286 | ' | 1,145,286 | ' | 1,086,739 |
Recorded Investment | 14,122 | ' | 14,122 | ' | 14,012 |
Allowance for loan losses | ' | ' | 207 | ' | 970 |
Indirect Installment [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | 729,513 | ' | 729,513 | ' | 655,587 |
Recorded Investment | 1,368 | ' | 1,368 | ' | 1,202 |
Allowance for loan losses | ' | ' | 248 | ' | 324 |
Consumer Lines Of Credit [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | 115 | ' | ' |
Acquired Loans [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans, net of unearned income | 1,498,234 | ' | 1,498,234 | ' | 1,345,429 |
Purchased Credit-Impaired Loans [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Carrying Amount | 12,953 | ' | 12,953 | ' | 21,192 |
Outstanding contractual receivable of PCI loan | 35,352 | ' | 35,352 | ' | 56,500 |
Recorded Investment | 13,401 | ' | 13,401 | ' | 22,192 |
Owner-Occupied [Member] | Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Percentage of loan portfolio | 41.10% | ' | 41.10% | ' | 43.10% |
Non-Owner-Occupied [Member] | Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Percentage of loan portfolio | 58.90% | ' | 58.90% | ' | 56.90% |
Specific reserves for commercial TDRs [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Reserves in allowance for loan losses, TDRs | 446 | ' | 446 | ' | 561 |
Pooled reserves for commercial TDRs [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Reserves in allowance for loan losses, TDRs | $212 | ' | $212 | ' | $193 |
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_L2
Loans and Allowance for Loan Losses - Carrying Amounts at Acquisition of All Purchased Loans (Impaired and Non-Impaired) Acquired (Detail) (Acquired Loans [Member], Annapolis Bancorp Inc. And PVF Capital Corp. [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' |
Contractually required cash flows at acquisition | $837,086 |
Non-accretable difference (expected losses and foregone interest) | -76,199 |
Cash flows expected to be collected at acquisition | 760,887 |
Accretable yield | -115,352 |
Basis in acquired loans at acquisition | 645,535 |
Impaired Loans [Member] | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' |
Contractually required cash flows at acquisition | 40,972 |
Non-accretable difference (expected losses and foregone interest) | -23,207 |
Cash flows expected to be collected at acquisition | 17,765 |
Accretable yield | -2,505 |
Basis in acquired loans at acquisition | 15,260 |
Performing Loans [Member] | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' |
Contractually required cash flows at acquisition | 796,114 |
Non-accretable difference (expected losses and foregone interest) | -52,992 |
Cash flows expected to be collected at acquisition | 743,122 |
Accretable yield | -112,847 |
Basis in acquired loans at acquisition | $630,275 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Summary of Change in Accretable Yield of Acquired Loans (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ' | ' |
Balance at beginning of period | $305,646 | $254,153 |
Acquisitions | ' | 115,352 |
Reduction due to unexpected early payoffs | -18,821 | -42,582 |
Reclass from non-accretable difference | 2,605 | 16,393 |
Disposals/transfers | -2,130 | -592 |
Accretion | -28,275 | -37,078 |
Balance at end of period | 259,025 | 305,646 |
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 | 7,456 | 778 |
Acquisitions | ' | 2,505 |
Reclass from non-accretable difference | 1,710 | 8,097 |
Disposals/transfers | -1,821 | -368 |
Accretion | -1,746 | -3,556 |
Balance at end of period | 5,599 | 7,456 |
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 | 298,190 | 253,375 |
Acquisitions | ' | 112,847 |
Reduction due to unexpected early payoffs | -18,821 | -42,582 |
Reclass from non-accretable difference | 895 | 8,296 |
Disposals/transfers | -309 | -224 |
Accretion | -26,529 | -33,522 |
Balance at end of period | $253,426 | $298,190 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Summary of Information about Corporation's Purchased Credit-Impaired Loans (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | $305,646 | $254,153 |
Acquisitions | ' | 115,352 |
Accretion | 28,275 | 37,078 |
Reclass from non-accretable difference | 2,605 | 16,393 |
Disposals/transfers | -2,130 | -592 |
Balance at end of period | 259,025 | 305,646 |
Recorded Investment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | 22,192 | 16,623 |
Acquisitions | ' | 15,260 |
Accretion | 1,746 | 3,556 |
Payments received | 7,799 | 9,325 |
Reclass from non-accretable difference | ' | ' |
Disposals/transfers | -2,738 | -3,922 |
Contractual interest | ' | ' |
Balance at end of period | 13,401 | 22,192 |
Accretable Yield [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | -7,456 | -778 |
Acquisitions | ' | -2,505 |
Accretion | 1,746 | 3,556 |
Payments received | ' | ' |
Reclass from non-accretable difference | -1,710 | -8,097 |
Disposals/transfers | 1,821 | 368 |
Contractual interest | ' | ' |
Balance at end of period | -5,599 | -7,456 |
Expected Cash Flows [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | 29,648 | 17,401 |
Acquisitions | ' | 17,765 |
Accretion | ' | ' |
Payments received | 7,799 | 9,325 |
Reclass from non-accretable difference | 1,710 | 8,097 |
Disposals/transfers | -4,559 | -4,290 |
Contractual interest | ' | ' |
Balance at end of period | 19,000 | 29,648 |
Non-Accretable Difference [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | -26,852 | -23,733 |
Acquisitions | ' | -24,266 |
Accretion | ' | ' |
Payments received | 2,306 | 1,345 |
Reclass from non-accretable difference | 1,710 | 8,097 |
Disposals/transfers | 7,671 | 14,405 |
Contractual interest | -1,187 | -2,700 |
Balance at end of period | -16,352 | -26,852 |
Outstanding Balance [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | 56,500 | 41,134 |
Acquisitions | ' | 42,031 |
Accretion | ' | ' |
Payments received | 10,105 | 10,670 |
Reclass from non-accretable difference | ' | ' |
Disposals/transfers | -12,230 | -18,695 |
Contractual interest | 1,187 | 2,700 |
Balance at end of period | $35,352 | $56,500 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Summary of Non-Performing Assets (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Troubled debt restructurings | $44,514 | $41,623 |
Non-Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non-accrual loans | 59,549 | 58,755 |
Troubled debt restructurings | 20,485 | 18,698 |
Total non-performing loans | 80,034 | 77,453 |
Other real estate owned (OREO) | 40,268 | 40,681 |
Total non-performing loans and OREO | 120,302 | 118,134 |
Non-performing investments | ' | 797 |
Total non-performing assets | $120,302 | $118,931 |
Non-performing loans as a percent of total loans | 0.77% | 0.81% |
Non-performing loans + OREO as a percent of total loans + OREO | 1.16% | 1.24% |
Non-performing assets as a percent of total assets | 0.80% | 0.88% |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans, by Class (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | $10,333,873 | $9,506,094 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 3,577,933 | 3,245,209 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 2,103,896 | 1,881,474 |
Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 164,676 | 158,895 |
Total Commercial Loans and Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 5,846,505 | 5,285,578 |
Direct Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 1,512,149 | 1,467,236 |
Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 1,145,286 | 1,086,739 |
Indirect Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 729,513 | 655,587 |
Consumer Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 1,037,519 | 965,771 |
Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 62,901 | 45,183 |
Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 33,822 | 37,342 |
> 90 Days Past Due and Still Accruing | 6,281 | 7,971 |
Non- Accrual | 59,549 | 58,755 |
Total Past Due | 99,652 | 104,068 |
Current | 8,730,427 | 8,050,697 |
Total Loans | 8,830,079 | 8,154,765 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 5,313 | 5,428 |
> 90 Days Past Due and Still Accruing | 157 | 252 |
Non- Accrual | 39,300 | 40,960 |
Total Past Due | 44,770 | 46,640 |
Current | 2,796,066 | 2,593,788 |
Total Loans | 2,840,836 | 2,640,428 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 2,444 | 2,066 |
> 90 Days Past Due and Still Accruing | 4 | 8 |
Non- Accrual | 8,890 | 6,643 |
Total Past Due | 11,338 | 8,717 |
Current | 1,985,670 | 1,752,951 |
Total Loans | 1,997,008 | 1,761,668 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 802 | 714 |
> 90 Days Past Due and Still Accruing | ' | ' |
Non- Accrual | 788 | 734 |
Total Past Due | 1,590 | 1,448 |
Current | 163,086 | 157,447 |
Total Loans | 164,676 | 158,895 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 8,559 | 8,208 |
> 90 Days Past Due and Still Accruing | 161 | 260 |
Non- Accrual | 48,978 | 48,337 |
Total Past Due | 57,698 | 56,805 |
Current | 4,944,822 | 4,504,186 |
Total Loans | 5,002,520 | 4,560,991 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 9,158 | 9,038 |
> 90 Days Past Due and Still Accruing | 3,118 | 3,753 |
Non- Accrual | 4,846 | 4,686 |
Total Past Due | 17,122 | 17,477 |
Current | 1,421,225 | 1,370,518 |
Total Loans | 1,438,347 | 1,387,995 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 9,053 | 12,681 |
> 90 Days Past Due and Still Accruing | 2,098 | 2,401 |
Non- Accrual | 3,829 | 4,260 |
Total Past Due | 14,980 | 19,342 |
Current | 703,352 | 658,885 |
Total Loans | 718,332 | 678,227 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 4,734 | 5,653 |
> 90 Days Past Due and Still Accruing | 235 | 471 |
Non- Accrual | 1,229 | 1,060 |
Total Past Due | 6,198 | 7,184 |
Current | 719,868 | 642,517 |
Total Loans | 726,066 | 649,701 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 2,293 | 1,737 |
> 90 Days Past Due and Still Accruing | 662 | 1,076 |
Non- Accrual | 667 | 412 |
Total Past Due | 3,622 | 3,225 |
Current | 878,291 | 829,443 |
Total Loans | 881,913 | 832,668 |
Originated Loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 25 | 25 |
> 90 Days Past Due and Still Accruing | 7 | 10 |
Non- Accrual | ' | ' |
Total Past Due | 32 | 35 |
Current | 62,869 | 45,148 |
Total Loans | 62,901 | 45,183 |
Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 30,656 | 30,205 |
> 90 Days Past Due and Still Accruing | 58,636 | 45,823 |
Non- Accrual | ' | ' |
Total Past Due | 89,292 | 76,028 |
Current | 1,512,184 | 1,373,199 |
Discount | -97,682 | -97,898 |
Total Loans | 1,503,794 | 1,351,329 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 15,322 | 13,637 |
> 90 Days Past Due and Still Accruing | 30,769 | 20,668 |
Non- Accrual | ' | ' |
Total Past Due | 46,091 | 34,305 |
Current | 740,533 | 619,197 |
Discount | -49,527 | -48,721 |
Total Loans | 737,097 | 604,781 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 1,068 | 1,860 |
> 90 Days Past Due and Still Accruing | 5,373 | 1,899 |
Non- Accrual | ' | ' |
Total Past Due | 6,441 | 3,759 |
Current | 108,955 | 124,415 |
Discount | -8,508 | -8,368 |
Total Loans | 106,888 | 119,806 |
Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | ' | ' |
> 90 Days Past Due and Still Accruing | ' | ' |
Non- Accrual | ' | ' |
Total Past Due | ' | ' |
Current | ' | ' |
Discount | ' | ' |
Total Loans | ' | ' |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 16,390 | 15,497 |
> 90 Days Past Due and Still Accruing | 36,142 | 22,567 |
Non- Accrual | ' | ' |
Total Past Due | 52,532 | 38,064 |
Current | 849,488 | 743,612 |
Discount | -58,035 | -57,089 |
Total Loans | 843,985 | 724,587 |
Acquired Loans [Member] | Direct Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 2,063 | 1,447 |
> 90 Days Past Due and Still Accruing | 1,177 | 1,178 |
Non- Accrual | ' | ' |
Total Past Due | 3,240 | 2,625 |
Current | 68,762 | 74,917 |
Discount | 1,800 | 1,699 |
Total Loans | 73,802 | 79,241 |
Acquired Loans [Member] | Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 11,502 | 11,464 |
> 90 Days Past Due and Still Accruing | 18,239 | 19,298 |
Non- Accrual | ' | ' |
Total Past Due | 29,741 | 30,762 |
Current | 430,993 | 412,704 |
Discount | -33,780 | -34,954 |
Total Loans | 426,954 | 408,512 |
Acquired Loans [Member] | Indirect Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 54 | 205 |
> 90 Days Past Due and Still Accruing | 39 | 31 |
Non- Accrual | ' | ' |
Total Past Due | 93 | 236 |
Current | 3,874 | 6,267 |
Discount | -520 | -617 |
Total Loans | 3,447 | 5,886 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 647 | 1,592 |
> 90 Days Past Due and Still Accruing | 3,039 | 2,749 |
Non- Accrual | ' | ' |
Total Past Due | 3,686 | 4,341 |
Current | 159,067 | 135,699 |
Discount | -7,147 | -6,937 |
Total Loans | 155,606 | 133,103 |
Acquired Loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | ' | ' |
> 90 Days Past Due and Still Accruing | ' | ' |
Non- Accrual | ' | ' |
Total Past Due | ' | ' |
Current | ' | ' |
Discount | ' | ' |
Total Loans | ' | ' |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Summary of Commercial Loans by Credit Quality (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | $5,002,520 | $4,560,991 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 2,840,836 | 2,640,428 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 1,997,008 | 1,761,668 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 164,676 | 158,895 |
Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 843,985 | 724,587 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 737,097 | 604,781 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 106,888 | 119,806 |
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 | 4,688,029 | 4,244,509 |
Pass [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 2,673,272 | 2,476,988 |
Pass [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 1,851,533 | 1,611,530 |
Pass [Member] | Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 163,224 | 155,991 |
Pass [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 639,901 | 543,347 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 552,495 | 442,604 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 87,406 | 100,743 |
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 | 126,481 | 155,760 |
Special Mention [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 59,271 | 56,140 |
Special Mention [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 66,776 | 97,675 |
Special Mention [Member] | Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 434 | 1,945 |
Special Mention [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 79,232 | 80,497 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 73,245 | 74,315 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 5,987 | 6,182 |
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 | 186,463 | 159,880 |
Substandard [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 107,633 | 106,599 |
Substandard [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 77,812 | 52,322 |
Substandard [Member] | Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 1,018 | 959 |
Substandard [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 116,687 | 97,952 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 103,238 | 85,086 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 13,449 | 12,866 |
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 | 1,547 | 842 |
Doubtful [Member] | Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 660 | 701 |
Doubtful [Member] | Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 887 | 141 |
Doubtful [Member] | Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | ' | ' |
Doubtful [Member] | Acquired Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 8,165 | 2,791 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 8,119 | 2,776 |
Doubtful [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | 46 | 15 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total commercial loans and leases | ' | ' |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Summary of Consumer Loans by Payment Status (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | $10,333,873 | $9,506,094 |
Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 80,034 | 77,453 |
Direct Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 1,512,149 | 1,467,236 |
Direct Installment [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 1,425,827 | 1,377,418 |
Direct Installment [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 12,520 | 10,577 |
Residential Mortgages [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 1,145,286 | 1,086,739 |
Residential Mortgages [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 704,210 | 664,214 |
Residential Mortgages [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 14,122 | 14,013 |
Indirect Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 729,513 | 655,587 |
Indirect Installment [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 724,698 | 648,499 |
Indirect Installment [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 1,368 | 1,202 |
Consumer Lines of Credit [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 880,309 | 832,071 |
Consumer Lines of Credit [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | 1,604 | 597 |
Other [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 62,901 | 45,183 |
Other [Member] | Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Performing Loans | 62,901 | 45,183 |
Other [Member] | Non-Performing [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Non-Performing Loans | ' | ' |
Originated Loans [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 8,830,079 | 8,154,765 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 1,438,347 | 1,387,995 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 718,332 | 678,227 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 726,066 | 649,701 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | 881,913 | 832,668 |
Originated Loans [Member] | Other [Member] | ' | ' |
Credit Quality [Line Items] | ' | ' |
Loans, net of unearned income | $62,901 | $45,183 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Summary of Impaired Loans, by Class (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With allowance recorded, Specific Related Allowance | $1,469 | $824 |
Recorded Investment | 5,228 | ' |
Specific Related Allowance | 1,469 | ' |
Commercial Real Estate [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 37,984 | 40,472 |
With no allowance recorded, Unpaid Principal Balance | 58,513 | 62,034 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 37,486 | 37,376 |
With allowance recorded, Recorded Investment | 2,804 | 3,603 |
With allowance recorded, Unpaid Principal Balance | 4,930 | 3,818 |
With allowance recorded, Specific Related Allowance | 660 | 701 |
With allowance recorded, Average Recorded Investment | 6,074 | 14,379 |
Recorded Investment | 40,788 | 44,075 |
Unpaid Principal Balance | 63,443 | 65,852 |
Specific Related Allowance | 660 | 701 |
Average Recorded Investment | 43,560 | 51,755 |
Commercial and Industrial [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 7,413 | 7,301 |
With no allowance recorded, Unpaid Principal Balance | 9,038 | 8,669 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 6,192 | 8,304 |
With allowance recorded, Recorded Investment | 2,424 | 122 |
With allowance recorded, Unpaid Principal Balance | 2,486 | 130 |
With allowance recorded, Specific Related Allowance | 809 | 123 |
With allowance recorded, Average Recorded Investment | 1,302 | 126 |
Recorded Investment | 9,837 | 7,423 |
Unpaid Principal Balance | 11,524 | 8,799 |
Specific Related Allowance | 809 | 123 |
Average Recorded Investment | 7,494 | 8,430 |
Commercial Leases [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 788 | 734 |
With no allowance recorded, Unpaid Principal Balance | 788 | 734 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 766 | 758 |
With allowance recorded, Recorded Investment | ' | ' |
With allowance recorded, Unpaid Principal Balance | ' | ' |
With allowance recorded, Specific Related Allowance | ' | ' |
With allowance recorded, Average Recorded Investment | ' | ' |
Recorded Investment | 788 | 734 |
Unpaid Principal Balance | 788 | 734 |
Average Recorded Investment | 766 | 758 |
Total Commercial Loans and Leases [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 46,185 | 48,507 |
With no allowance recorded, Unpaid Principal Balance | 68,339 | 71,437 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 44,444 | 46,438 |
With allowance recorded, Recorded Investment | 5,228 | 3,725 |
With allowance recorded, Unpaid Principal Balance | 7,416 | 3,948 |
With allowance recorded, Specific Related Allowance | 1,469 | 824 |
With allowance recorded, Average Recorded Investment | 7,376 | 14,505 |
Recorded Investment | 51,413 | 52,232 |
Unpaid Principal Balance | 75,755 | 75,385 |
Specific Related Allowance | 1,469 | 824 |
Average Recorded Investment | 51,820 | 60,943 |
Direct Installment [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 12,520 | 10,577 |
With no allowance recorded, Unpaid Principal Balance | 12,920 | 10,830 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 12,222 | 10,557 |
Recorded Investment | 12,520 | 10,577 |
Unpaid Principal Balance | 12,920 | 10,830 |
Average Recorded Investment | 12,222 | 10,557 |
Residential Mortgages [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 14,122 | 14,012 |
With no allowance recorded, Unpaid Principal Balance | 16,220 | 14,560 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 13,840 | 13,565 |
Recorded Investment | 14,122 | 14,012 |
Unpaid Principal Balance | 16,220 | 14,560 |
Average Recorded Investment | 13,840 | 13,565 |
Indirect Installment [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 1,368 | 1,202 |
With no allowance recorded, Unpaid Principal Balance | 1,536 | 2,633 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 1,390 | 1,127 |
Recorded Investment | 1,368 | 1,202 |
Unpaid Principal Balance | 1,536 | 2,633 |
Average Recorded Investment | 1,390 | 1,127 |
Consumer Lines of Credit [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | 1,604 | 597 |
With no allowance recorded, Unpaid Principal Balance | 1,607 | 668 |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | 1,263 | 573 |
Recorded Investment | 1,604 | 597 |
Unpaid Principal Balance | 1,607 | 668 |
Average Recorded Investment | 1,263 | 573 |
Other [Member] | ' | ' |
Financial Receivables Impaired Or Restructured [Line Items] | ' | ' |
With no allowance recorded, Recorded Investment | ' | ' |
With no allowance recorded, Unpaid Principal Balance | ' | ' |
With no allowance recorded, Specific Related Allowance | ' | ' |
With no allowance recorded, Average Recorded Investment | ' | ' |
Recorded Investment | ' | ' |
Unpaid Principal Balance | ' | ' |
Specific Related Allowance | ' | ' |
Average Recorded Investment | ' | ' |
Recovered_Sheet3
Loans and Allowance for Loan Losses - Summary of Composition of Total TDRs (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | $44,514 | $41,623 |
Performing [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | 10,614 | 10,220 |
Non-Performing [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | 20,485 | 18,698 |
Non-Accrual [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings ("TDRs") | $13,415 | $12,705 |
Recovered_Sheet4
Loans and Allowance for Loan Losses - Summary of Troubled Debt Restructurings by Class of Loans (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Contract | Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 183 | 101 | 334 | 248 |
Pre-Modification Outstanding Recorded Investment | $6,024 | $1,590 | $8,547 | $4,724 |
Post-Modification Outstanding Recorded Investment | 5,953 | 1,561 | 8,383 | 4,491 |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 8 | ' | 9 | 5 |
Pre-Modification Outstanding Recorded Investment | 2,508 | ' | 2,581 | 1,029 |
Post-Modification Outstanding Recorded Investment | 2,496 | ' | 2,553 | 882 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | ' | ' | 1 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 188 | ' |
Post-Modification Outstanding Recorded Investment | ' | ' | 188 | ' |
Total Commercial Loans and Leases [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 8 | ' | 10 | 5 |
Pre-Modification Outstanding Recorded Investment | 2,508 | ' | 2,769 | 1,029 |
Post-Modification Outstanding Recorded Investment | 2,496 | ' | 2,741 | 882 |
Direct Installment [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 136 | 75 | 262 | 184 |
Pre-Modification Outstanding Recorded Investment | 1,873 | 743 | 3,573 | 1,904 |
Post-Modification Outstanding Recorded Investment | 1,843 | 715 | 3,479 | 1,833 |
Residential Mortgages [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 15 | 17 | 24 | 31 |
Pre-Modification Outstanding Recorded Investment | 1,070 | 804 | 1,359 | 1,519 |
Post-Modification Outstanding Recorded Investment | 1,045 | 804 | 1,324 | 1,507 |
Indirect Installment [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 6 | 5 | 13 | 15 |
Pre-Modification Outstanding Recorded Investment | 18 | 15 | 34 | 71 |
Post-Modification Outstanding Recorded Investment | 16 | 14 | 32 | 70 |
Consumer Lines of Credit [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 18 | 4 | 25 | 13 |
Pre-Modification Outstanding Recorded Investment | 555 | 28 | 812 | 201 |
Post-Modification Outstanding Recorded Investment | $553 | $28 | $807 | $199 |
Recovered_Sheet5
Loans and Allowance for Loan Losses - Summary of Troubled Debt Restructurings by Class of Loans, Payment Default (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Contract | Contract | Contract | Contract | |||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | 34 | [1] | 30 | [1] | 48 | [1] | 42 | [1] |
Recorded Investment | $240 | [1] | $1,189 | [1] | $392 | [1] | $1,448 | [1] |
Commercial Real Estate [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | ' | 1 | [1] | ' | [1] | 1 | [1] | |
Recorded Investment | ' | [1] | 764 | [1] | ' | 764 | [1] | |
Commercial and Industrial [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | ' | ' | ' | 1 | [1] | |||
Recorded Investment | ' | ' | ' | 32 | [1] | |||
Total Commercial Loans and Leases [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | ' | 1 | [1] | ' | 2 | [1] | ||
Recorded Investment | ' | 764 | [1] | ' | 796 | [1] | ||
Direct Installment [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | 33 | [1] | 24 | [1] | 47 | [1] | 32 | [1] |
Recorded Investment | 240 | [1] | 276 | [1] | 392 | [1] | 375 | [1] |
Residential Mortgages [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | ' | 2 | [1] | ' | 4 | [1] | ||
Recorded Investment | ' | 114 | [1] | ' | 232 | [1] | ||
Indirect Installment [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | 1 | [1] | 3 | [1] | 1 | [1] | 4 | [1] |
Recorded Investment | ' | 35 | [1] | ' | 45 | [1] | ||
Consumer Lines of Credit [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Number of Contracts | ' | ' | ' | [1] | ' | [1] | ||
Recorded Investment | ' | [1] | ' | [1] | ' | ' | ||
[1] | The recorded investment is as of period end. |
Recovered_Sheet6
Loans and Allowance for Loan Losses - Summary of Changes in Allowance for Loan Losses by Class (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | $112,219 | $107,702 | $110,784 | $104,374 |
Charge- Offs | -7,698 | -8,163 | -14,801 | -14,967 |
Recoveries | 1,822 | 838 | 3,354 | 3,429 |
Net Charge- Offs | -5,876 | -7,325 | -11,447 | -11,538 |
Provision for loan losses | 10,405 | 7,903 | 17,411 | 15,444 |
Balance at End of Year | 116,748 | 108,280 | 116,748 | 108,280 |
Originated Loans [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 107,123 | 102,504 | 104,884 | 100,194 |
Charge- Offs | -5,919 | -7,107 | -12,782 | -13,542 |
Recoveries | 1,084 | 803 | 2,330 | 3,190 |
Net Charge- Offs | -4,835 | -6,304 | -10,452 | -10,352 |
Provision for loan losses | 8,900 | 6,649 | 16,756 | 13,007 |
Balance at End of Year | 111,188 | 102,849 | 111,188 | 102,849 |
Acquired Loans [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 5,096 | 5,198 | 5,900 | 4,180 |
Charge- Offs | -1,779 | -1,056 | -2,019 | -1,425 |
Recoveries | 738 | 35 | 1,024 | 239 |
Net Charge- Offs | -1,041 | -1,021 | -995 | -1,186 |
Provision for loan losses | 1,505 | 1,254 | 655 | 2,437 |
Balance at End of Year | 5,560 | 5,431 | 5,560 | 5,431 |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 38,534 | 40,012 | 32,548 | 34,810 |
Charge- Offs | -1,572 | -415 | -3,795 | -2,702 |
Recoveries | 263 | 99 | 562 | 1,526 |
Net Charge- Offs | -1,309 | -316 | -3,233 | -1,176 |
Provision for loan losses | 1,253 | -4,030 | 9,163 | 2,032 |
Balance at End of Year | 38,478 | 35,666 | 38,478 | 35,666 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 29,971 | 28,838 | 32,603 | 31,849 |
Charge- Offs | -540 | -2,525 | -1,053 | -2,733 |
Recoveries | 168 | 147 | 538 | 503 |
Net Charge- Offs | -372 | -2,378 | -515 | -2,230 |
Provision for loan losses | 3,418 | 6,026 | 929 | 2,867 |
Balance at End of Year | 33,017 | 32,486 | 33,017 | 32,486 |
Commercial Leases [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 1,944 | 1,696 | 1,903 | 1,744 |
Charge- Offs | -63 | -191 | -150 | -248 |
Recoveries | 53 | 40 | 82 | 102 |
Net Charge- Offs | -10 | -151 | -68 | -146 |
Provision for loan losses | 145 | 211 | 244 | 158 |
Balance at End of Year | 2,079 | 1,756 | 2,079 | 1,756 |
Total Commercial Loans and Leases [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 70,449 | 70,546 | 67,054 | 68,403 |
Charge- Offs | -2,175 | -3,131 | -4,998 | -5,683 |
Recoveries | 484 | 286 | 1,182 | 2,131 |
Net Charge- Offs | -1,691 | -2,845 | -3,816 | -3,552 |
Provision for loan losses | 4,816 | 2,207 | 10,336 | 5,057 |
Balance at End of Year | 73,574 | 69,908 | 73,574 | 69,908 |
Direct Installment [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 16,630 | 15,100 | 17,824 | 15,130 |
Charge- Offs | -2,264 | -2,296 | -4,785 | -4,641 |
Recoveries | 283 | 249 | 550 | 482 |
Net Charge- Offs | -1,981 | -2,047 | -4,235 | -4,159 |
Provision for loan losses | 2,195 | 2,940 | 3,255 | 5,022 |
Balance at End of Year | 16,844 | 15,993 | 16,844 | 15,993 |
Residential Mortgages [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 5,307 | 4,978 | 5,836 | 5,155 |
Charge- Offs | -137 | -350 | -269 | -559 |
Recoveries | 44 | 11 | 48 | 40 |
Net Charge- Offs | -93 | -339 | -221 | -519 |
Provision for loan losses | 292 | 481 | -109 | 484 |
Balance at End of Year | 5,506 | 5,120 | 5,506 | 5,120 |
Indirect Installment [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 6,500 | 5,152 | 6,409 | 5,449 |
Charge- Offs | -696 | -732 | -1,498 | -1,542 |
Recoveries | 230 | 195 | 447 | 388 |
Net Charge- Offs | -466 | -537 | -1,051 | -1,154 |
Provision for loan losses | 659 | 1,011 | 1,335 | 1,331 |
Balance at End of Year | 6,693 | 5,626 | 6,693 | 5,626 |
Consumer Lines of Credit [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 7,658 | 6,045 | 7,231 | 6,057 |
Charge- Offs | -340 | -387 | -663 | -729 |
Recoveries | 38 | 62 | 93 | 149 |
Net Charge- Offs | -302 | -325 | -570 | -580 |
Provision for loan losses | 308 | 701 | 1,003 | 944 |
Balance at End of Year | 7,664 | 6,421 | 7,664 | 6,421 |
Other [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 579 | 683 | 530 | ' |
Charge- Offs | -307 | -211 | -569 | -388 |
Recoveries | 5 | ' | 10 | ' |
Net Charge- Offs | -302 | -211 | -559 | -388 |
Provision for loan losses | 630 | -691 | 936 | 169 |
Balance at End of Year | 907 | -219 | 907 | -219 |
Purchased Credit-Impaired Loans [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 708 | 583 | 1,000 | 759 |
Charge- Offs | -1,653 | ' | -1,902 | -156 |
Recoveries | ' | ' | ' | ' |
Net Charge- Offs | -1,653 | ' | -1,902 | -156 |
Provision for loan losses | 1,393 | -258 | 1,350 | -278 |
Balance at End of Year | 448 | 325 | 448 | 325 |
Other Acquired Loans [Member] | ' | ' | ' | ' |
Schedule Of Allowance For Loan Losses [Line Items] | ' | ' | ' | ' |
Balance at Beginning of Year | 4,388 | 4,615 | 4,900 | 3,421 |
Charge- Offs | -126 | -1,056 | -117 | -1,269 |
Recoveries | 738 | 35 | 1,024 | 239 |
Net Charge- Offs | 612 | -1,021 | 907 | -1,030 |
Provision for loan losses | 112 | 1,512 | -695 | 2,715 |
Balance at End of Year | $5,112 | $5,106 | $5,112 | $5,106 |
Recovered_Sheet7
Loans and Allowance for Loan Losses - Summary of Individual and Collective Allowance for Loan Losses and Loan Balances by Class (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | $1,469 | $824 |
Allowance, Collectively Evaluated for Impairment | 109,719 | 104,060 |
Loans | 10,333,873 | 9,506,094 |
Loans Outstanding, Individually Evaluated for Impairment | 34,603 | 34,376 |
Loans Outstanding, Collectively Evaluated for Impairment | 8,795,476 | 8,120,389 |
Commercial Real Estate [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | 660 | 701 |
Allowance, Collectively Evaluated for Impairment | 37,818 | 31,847 |
Loans | 3,577,933 | 3,245,209 |
Loans Outstanding, Individually Evaluated for Impairment | 27,909 | 30,133 |
Loans Outstanding, Collectively Evaluated for Impairment | 2,812,927 | 2,610,295 |
Commercial and Industrial [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | 809 | 123 |
Allowance, Collectively Evaluated for Impairment | 32,208 | 32,480 |
Loans | 2,103,896 | 1,881,474 |
Loans Outstanding, Individually Evaluated for Impairment | 6,694 | 4,243 |
Loans Outstanding, Collectively Evaluated for Impairment | 1,990,314 | 1,757,425 |
Commercial Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | ' | ' |
Allowance, Collectively Evaluated for Impairment | 2,079 | 1,903 |
Loans | 164,676 | 158,895 |
Loans Outstanding, Collectively Evaluated for Impairment | 164,676 | 158,895 |
Total Commercial Loans and Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Individually Evaluated for Impairment | 1,469 | 824 |
Allowance, Collectively Evaluated for Impairment | 72,105 | 66,230 |
Loans | 5,846,505 | 5,285,578 |
Loans Outstanding, Individually Evaluated for Impairment | 34,603 | 34,376 |
Loans Outstanding, Collectively Evaluated for Impairment | 4,967,917 | 4,526,615 |
Direct Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 16,844 | 17,824 |
Loans | 1,512,149 | 1,467,236 |
Loans Outstanding, Collectively Evaluated for Impairment | 1,438,347 | 1,387,995 |
Residential Mortgages [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 5,506 | 5,836 |
Loans | 1,145,286 | 1,086,739 |
Loans Outstanding, Collectively Evaluated for Impairment | 718,332 | 678,227 |
Indirect Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 6,693 | 6,409 |
Loans | 729,513 | 655,587 |
Loans Outstanding, Collectively Evaluated for Impairment | 726,066 | 649,701 |
Consumer Lines of Credit [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 7,664 | 7,231 |
Loans | 1,037,519 | 965,771 |
Loans Outstanding, Collectively Evaluated for Impairment | 881,913 | 832,668 |
Other [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Allowance, Collectively Evaluated for Impairment | 907 | 530 |
Loans | 62,901 | 45,183 |
Loans Outstanding, Collectively Evaluated for Impairment | 62,901 | 45,183 |
Originated Loans [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 8,830,079 | 8,154,765 |
Originated Loans [Member] | Commercial Real Estate [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 2,840,836 | 2,640,428 |
Originated Loans [Member] | Commercial and Industrial [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 1,997,008 | 1,761,668 |
Originated Loans [Member] | Commercial Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 164,676 | 158,895 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 5,002,520 | 4,560,991 |
Originated Loans [Member] | Direct Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 1,438,347 | 1,387,995 |
Originated Loans [Member] | Residential Mortgages [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 718,332 | 678,227 |
Originated Loans [Member] | Indirect Installment [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 726,066 | 649,701 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | 881,913 | 832,668 |
Originated Loans [Member] | Other [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Loans | $62,901 | $45,183 |
Borrowings_Summary_of_ShortTer
Borrowings - Summary of Short-Term Borrowings (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Securities sold under repurchase agreements | $751,066 | $841,741 |
Federal funds purchased | 624,000 | 270,000 |
Subordinated notes | 129,444 | 129,498 |
Short-term borrowings | $1,504,510 | $1,241,239 |
Borrowings_Summary_of_LongTerm
Borrowings - Summary of Long-Term Debt (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Federal Home Loan Bank advances | $250,070 | $50,076 |
Subordinated notes | 85,784 | 84,637 |
Other subordinated debt | ' | 8,637 |
Convertible debt | ' | 578 |
Long-term debt | $335,854 | $143,928 |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Credit available with FHLB | $3,695,372 | ' |
Credit with FHLB used | $690,070 | ' |
Federal Home Loan Bank advances are scheduled to mature periodically through the year | '2019 | ' |
Effective interest rates, minimum | 0.95% | 1.06% |
Effective interest rates, maximum | 4.19% | 4.19% |
Junior_Subordinated_Debt_Addit
Junior Subordinated Debt - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Trust | ||
Subordinated Borrowing [Line Items] | ' | ' |
Number of unconsolidated subsidiary trusts | 2 | ' |
Percent of the common equity of each Trust owned by the Corporation | 100.00% | ' |
Redemption of Corporation Issued TPS | $33,000 | $130,000 |
BCSB Acquisition [Member] | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Junior subordinated debt assumed in acquisition | $16,500 | ' |
Junior_Subordinated_Debt_Junio
Junior Subordinated Debt - Junior Subordinated Debt Trusts (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | F.N.B. Statutory Trust II [Member] | Omega Financial Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ' | ' | ' | ' |
Trust Preferred Securities | $57,500 | ' | $21,500 | $36,000 |
Common Securities | 1,779 | ' | 665 | 1,114 |
Junior subordinated debt | $58,220 | $75,205 | $22,165 | $36,055 |
Stated Maturity Date | ' | ' | 15-Jun-36 | 18-Oct-34 |
Interest Rate | ' | ' | 1.88% | 2.42% |
Description of variable rate | ' | ' | 'Variable; LIBOR + 165 basis points (bps) | 'Variable; LIBOR + 219 bps |
Basis points | ' | ' | 1.65% | 2.19% |
Derivative_Instruments_Additio
Derivative Instruments - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Fair value of derivatives, in a net liability position | $41,333 | $38,239 |
Collateral with derivative counterparties, fair value | 33,211 | 37,427 |
Cash collateral posted | 9,461 | 1,976 |
Additional amount in excess of posted collateral required in case of breached agreements | 2,124 | 2,224 |
Swap [Member] | Short [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Number of swaps | 325 | ' |
Notional amount of swaps | 915,432 | ' |
Swap [Member] | Long [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Number of swaps | 291 | ' |
Notional amount of swaps | $1,115,432 | ' |
Derivative_Instruments_Offsett
Derivative Instruments - Offsetting of Derivative Assets and Liabilities (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | $39,238 | $33,317 |
Net Amount Presented in the Balance Sheet | 39,238 | 33,317 |
Gross Amount | 42,533 | 43,369 |
Net Amount Presented in the Balance Sheet | 42,533 | 43,369 |
Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 1,736 | 3,579 |
Derivative Assets Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 1,675 | 3,547 |
Net Amount Presented in the Balance Sheet | 1,675 | 3,547 |
Derivative Assets Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 61 | 32 |
Net Amount Presented in the Balance Sheet | 61 | 32 |
Derivative Assets Not Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 37,502 | 29,738 |
Net Amount Presented in the Balance Sheet | 37,502 | 29,738 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 41,768 | 40,323 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 41,768 | 40,323 |
Net Amount Presented in the Balance Sheet | 41,768 | 40,323 |
Derivative Liabilities Not Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 704 | 3,014 |
Net Amount Presented in the Balance Sheet | 704 | 3,014 |
Derivative Liabilities Not Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amount | 61 | 32 |
Net Amount Presented in the Balance Sheet | $61 | $32 |
Derivative_Instruments_Derivat
Derivative Instruments - Derivative Assets (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | $39,238 | $33,317 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 862 | 53 |
Net Amount, Derivative Assets | 94 | 82 |
Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 1,736 | 3,579 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 780 | 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 | 56 | 566 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 56 | 566 |
Counterparty E [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | ' | ' |
Net Amount, Derivative Assets | ' | ' |
Counterparty E [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 476 | 1,696 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 476 | 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 | 94 | 82 |
Counterparty F [Member] | Derivative Assets Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 94 | 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 | 50 | 251 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 50 | 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 | 198 | 634 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 198 | 634 |
Counterparty J [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 862 | 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 | 862 | 53 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | ' | ' |
Derivative_Instruments_Derivat1
Derivative Instruments - Derivative Liabilities (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | $42,533 | $43,369 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 41,768 | 40,323 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 31,738 | 36,581 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 7,946 | 1,610 |
Net Amount, Derivative Liabilities | 2,084 | 2,132 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty A [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 4,567 | 4,934 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 4,567 | 4,934 |
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 | 2,889 | 3,249 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 2,889 | 3,249 |
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 | 1,333 | 1,431 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 1,333 | 1,431 |
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 | 8,263 | 9,614 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 8,263 | 9,614 |
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 | 4,453 | 6,257 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 4,453 | 6,257 |
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 | 27 | 13 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | ' | 13 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | 27 | ' |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty G [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 4,334 | 5,309 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 4,334 | 5,309 |
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 | 2,057 | 2,257 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | ' | 125 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | ' | ' |
Net Amount, Derivative Liabilities | 2,057 | 2,132 |
Derivative Liabilities Subject to Master Netting Arrangement [Member] | Counterparty I [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Net Amount Presented in the Balance Sheet | 5,899 | 5,649 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 5,899 | 5,649 |
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 | 7,946 | 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 | 7,946 | 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 $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Interest Rate Contracts [Member] | Other Income [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Interest Rate Products | $820 | $368 |
Recovered_Sheet8
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
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 | $3,287,465 | $2,897,748 |
Standby Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Extended credit and standby letters of credit | $114,268 | $114,298 |
Recovered_Sheet9
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Jun. 30, 2014 |
Commitments And Contingencies Disclosure [Abstract] | ' |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 73.80% |
Stock_Incentive_Plans_Addition
Stock Incentive Plans - Additional Information (Detail) (USD $) | 6 Months Ended | 6 Months Ended | ||||||||||||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 16, 2009 | Jun. 30, 2014 | Jun. 30, 2014 | Apr. 06, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Apr. 06, 2013 | Mar. 24, 2014 |
Parkvale Financial Corporation [Member] | Annapolis Bancorp, Inc. [Member] | Annapolis Bancorp, Inc. [Member] | Restricted Stock [Member] | Restricted Stock [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 | 357,341 | 328,434 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate, weighted average grant date fair value | $4,871 | $3,607 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares available under Incentive Compensation Plans | 2,417,988 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period of awards expensed, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '4 years | '5 years | ' | ' | ' |
Share-based compensation expense related to restricted stock awards | ' | ' | ' | ' | ' | ' | $1,385 | $2,094 | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit related to restricted stock awards | ' | ' | ' | ' | ' | ' | 485 | 733 | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of awards vested | ' | ' | ' | ' | ' | ' | 8,641 | 8,259 | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost related to unvested restricted stock awards | 7,028 | ' | ' | ' | ' | ' | 7,028 | ' | ' | ' | 3,860 | 3,168 | ' | ' | ' | ' |
Amount subject to accelerated vesting under Incentive Compensation Plan | ' | ' | ' | ' | ' | ' | 129 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised | 134,687 | ' | ' | ' | ' | ' | ' | ' | 129,287 | 0 | ' | ' | ' | ' | ' | ' |
Intrinsic value of outstanding and exercisable stock options | $2,512 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum common shares available for purchase under warrants | 1,302,083 | ' | 651,042 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant issued, exercise price | ' | ' | ' | ' | ' | $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 $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Awards, Unvested awards outstanding at beginning of period | 1,729,033 | 1,913,073 |
Awards, Granted | 357,341 | 328,434 |
Awards, Net adjustment due to performance | -87,512 | ' |
Awards, Vested | -698,121 | -734,129 |
Awards, Forfeited | -32,909 | -622 |
Awards, Dividend reinvestment | 22,501 | 28,419 |
Awards, Unvested awards outstanding at end of period | 1,290,333 | 1,535,175 |
Weighted Average Grant Price per Share, Unvested awards outstanding at beginning of period | $10.23 | $9.17 |
Weighted Average Grant Price per Share, Granted | $13.63 | $10.98 |
Weighted Average Grant Price per Share, Net adjustment due to performance | $11.41 | ' |
Weighted Average Grant Price per Share, Vested | $8.77 | $7.90 |
Weighted Average Grant Price per Share, Forfeited | $10.99 | $9.23 |
Weighted Average Grant Price per Share, Dividend reinvestment | $12.74 | $11.39 |
Weighted Average Grant Price per Share, Unvested awards outstanding at end of period | $11.90 | $10.21 |
Stock_Incentive_Plans_Componen
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) (USD $) | 6 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unvested awards | 1,290,333 | 1,729,033 | 1,535,175 | 1,913,073 |
Unrecognized compensation expense | $7,028 | ' | ' | ' |
Intrinsic value | 16,542 | ' | ' | ' |
Weighted average remaining life (in years) | '2 years 3 months 29 days | ' | ' | ' |
Service-Based Awards [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unvested awards | 498,910 | ' | ' | ' |
Unrecognized compensation expense | 3,860 | ' | ' | ' |
Intrinsic value | 6,396 | ' | ' | ' |
Weighted average remaining life (in years) | '2 years 5 months 12 days | ' | ' | ' |
Performance-Based Awards [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unvested awards | 791,423 | ' | ' | ' |
Unrecognized compensation expense | 3,168 | ' | ' | ' |
Intrinsic value | $10,146 | ' | ' | ' |
Weighted average remaining life (in years) | '2 years 3 months 4 days | ' | ' | ' |
Stock_Incentive_Plans_Summary_1
Stock Incentive Plans - Summary of Information Concerning Stock Option Awards (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Shares, Options outstanding at beginning of period | 533,524 | 640,050 |
Shares, Assumed from acquisition | 304,785 | 19,223 |
Shares, Exercised | -134,687 | ' |
Shares, Forfeited | -52,262 | -289,363 |
Shares, Options outstanding and exercisable at end of period | 651,360 | 369,910 |
Weighted Average Price per Share, Options outstanding at beginning of period | $11.50 | $13.21 |
Weighted Average Price per Share, Assumed from acquisition | $5.77 | $7.92 |
Weighted Average Price per Share, Exercised | $6.24 | ' |
Weighted Average Price per Share, Forfeited | $25.03 | $15.05 |
Weighted Average Price per Share, Options outstanding and exercisable at end of period | $8.82 | $11.49 |
Retirement_Plans_Additional_In
Retirement Plans - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2008 |
RetirementPlans | |||
Disclosure Retirement Plans [Abstract] | ' | ' | ' |
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% | ' | ' |
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 | $4,962 | $4,535 | ' |
Retirement_Plans_Net_Periodic_
Retirement Plans - Net Periodic Benefit Credit for Defined Benefit Plans (Detail) (Defined Benefit Plans [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Defined Benefit Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $16 | $18 | $32 | $36 |
Interest cost | 1,596 | 1,427 | 3,192 | 2,854 |
Expected return on plan assets | -2,487 | -2,270 | -4,974 | -4,540 |
Amortization: | ' | ' | ' | ' |
Unrecognized net transition asset | -5 | -23 | -10 | -46 |
Unrecognized prior service cost | 2 | 2 | 4 | 4 |
Unrecognized loss | 337 | 557 | 674 | 1,114 |
Net periodic pension credit | ($541) | ($289) | ($1,082) | ($578) |
Comprehensive_Income_Component
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Components Of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $34,831 | $29,193 | $69,355 | $57,731 |
Securities available for sale, Unrealized gains (losses) arising during the period, net of tax expense (benefit) of $2,937, $(6,101), $8,618 and $(6,200) | 5,451 | -11,330 | 16,001 | -11,514 |
Securities available for sale, Reversal of non-credit related losses on debt securities not expected to be sold, net of tax expense of $3,335 | ' | ' | 6,192 | ' |
Securities available for sale, Reclassification adjustment for gains included in net income, net of tax expense of $270, $19, $3,581 and $258 | -504 | -35 | -6,654 | -480 |
Unrealized gains (losses) on derivative instruments arising during the period, net of tax expense (benefit) of $1,248, $(2,080), $2,365 and $(2,453) | 2,317 | -3,863 | 4,391 | -4,556 |
Unrealized gains on pension and postretirement benefit obligations arising during the period, net of tax expense of $117, $188, $234 and $375 | 218 | 349 | 435 | 697 |
Other comprehensive income (loss) | 7,482 | -14,879 | 20,365 | -15,853 |
Comprehensive income | $42,313 | $14,314 | $89,720 | $41,878 |
Comprehensive_Income_Component1
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Parenthetical) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Components Of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Securities available for sale, Unrealized gains (losses) arising during the period, tax expense (benefit) | $2,937 | ($6,101) | $8,618 | ($6,200) |
Securities available for sale, Reversal of non-credit related losses on debt securities not expected to be sold, tax expense | ' | ' | 3,335 | ' |
Securities available for sale, Reclassification adjustment for gains included in net income, tax expense | 270 | 19 | 3,581 | 258 |
Unrealized gains (losses) on derivative instruments arising during the period, tax expense (benefit) | 1,248 | -2,080 | 2,365 | -2,453 |
Unrealized gains on pension and postretirement benefit obligations arising during the period, tax expense | $117 | $188 | $234 | $375 |
Comprehensive_Income_Changes_i
Comprehensive Income - Changes in Accumulated Other Comprehensive Income, Net of Tax, by Component (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | ' | ' | ($56,924) | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | 27,019 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | -6,654 | ' |
Net current period other comprehensive income (loss) | 7,482 | -14,879 | 20,365 | -15,853 |
Accumulated other comprehensive income (loss), balance at end of period | -36,559 | ' | -36,559 | ' |
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 | ' | ' | -11,874 | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | 16,001 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | -6,654 | ' |
Net current period other comprehensive income (loss) | ' | ' | 9,347 | ' |
Accumulated other comprehensive income (loss), balance at end of period | -2,527 | ' | -2,527 | ' |
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 | ' | ' | -6,192 | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | 6,192 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | ' | ' |
Net current period other comprehensive income (loss) | ' | ' | 6,192 | ' |
Accumulated other comprehensive income (loss), balance at end of period | ' | ' | ' | ' |
Unrealized Losses on Derivative Instruments [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | ' | ' | -6,586 | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | 4,391 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | ' | ' |
Net current period other comprehensive income (loss) | ' | ' | 4,391 | ' |
Accumulated other comprehensive income (loss), balance at end of period | -2,195 | ' | -2,195 | ' |
Unrecognized Pension and Postretirement Obligations [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss), balance at beginning of period | ' | ' | -32,272 | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | 435 | ' |
Amounts reclassified from accumulated other comprehensive income | ' | ' | ' | ' |
Net current period other comprehensive income (loss) | ' | ' | 435 | ' |
Accumulated other comprehensive income (loss), balance at end of period | ($31,837) | ' | ($31,837) | ' |
Comprehensive_Income_Summary_o
Comprehensive Income - Summary of Reclassifications Out of Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Net securities gains | $776 | $68 | $10,237 | $752 |
Tax (expense) benefit | 15,562 | 12,220 | 29,761 | 24,047 |
Net Income | 34,831 | 29,193 | 69,355 | 57,731 |
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 | ' | ' | -10,237 | ' |
Tax (expense) benefit | ' | ' | -3,583 | ' |
Net Income | ' | ' | ($6,654) | ' |
Earnings_Per_Common_Share_Comp
Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net income | $34,831 | $29,193 | $69,355 | $57,731 |
Preferred stock dividends | -2,010 | ' | -4,332 | ' |
Net income available to common stockholders | $32,821 | $29,193 | $65,023 | $57,731 |
Basic weighted average common shares outstanding | 166,185,080 | 144,380,873 | 164,196,783 | 142,028,751 |
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,682,528 | 1,463,291 | 1,731,577 | 1,436,919 |
Diluted weighted average common shares outstanding | 167,867,608 | 145,844,164 | 165,928,360 | 143,465,670 |
Basic | $0.20 | $0.20 | $0.40 | $0.41 |
Diluted | $0.20 | $0.20 | $0.39 | $0.40 |
Earnings_Per_Common_Share_Addi
Earnings Per Common Share - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Common stock excluded from computation of diluted earnings per common share | 30,649 | 48,624 | 41,023 | 60,068 |
Cash_Flow_Information_Summary_
Cash Flow Information - Summary of Cash Flow Information (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Statement Of Cash Flows [Abstract] | ' | ' |
Interest paid on deposits and other borrowings | $21,366 | $25,127 |
Income taxes paid | 1,000 | 16,000 |
Transfers of loans to other real estate owned | 6,660 | 8,780 |
Financing of other real estate owned sold | $259 | $262 |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of reportable segments | 4 |
Business_Segments_Financial_In
Business Segments - Financial Information for Segments of Corporation (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | $124,440 | $107,841 | $242,320 | $212,959 | ' |
Interest expense | 10,248 | 11,095 | 20,303 | 23,117 | ' |
Net interest income | 114,192 | 96,746 | 222,017 | 189,842 | ' |
Provision for loan losses | 10,405 | 7,903 | 17,411 | 15,444 | ' |
Non-interest income | 39,190 | 36,697 | 81,260 | 70,309 | ' |
Non-interest expense | 90,123 | 82,056 | 182,006 | 158,933 | ' |
Intangible amortization | 2,461 | 2,071 | 4,744 | 3,996 | ' |
Income tax expense (benefit) | 15,562 | 12,220 | 29,761 | 24,047 | ' |
Net income (loss) | 34,831 | 29,193 | 69,355 | 57,731 | ' |
Total assets | 15,019,247 | 12,573,391 | 15,019,247 | 12,573,391 | 13,563,405 |
Total intangibles | 853,806 | 746,980 | 853,806 | 746,980 | ' |
Operating Segments [Member] | Community Banking [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | 113,161 | 97,217 | 219,852 | 191,268 | ' |
Interest expense | 8,730 | 7,979 | 16,978 | 16,897 | ' |
Net interest income | 104,431 | 89,238 | 202,874 | 174,371 | ' |
Provision for loan losses | 8,425 | 6,031 | 13,721 | 11,851 | ' |
Non-interest income | 27,420 | 25,940 | 59,333 | 49,638 | ' |
Non-interest expense | 75,281 | 67,336 | 152,147 | 130,304 | ' |
Intangible amortization | 2,288 | 1,893 | 4,398 | 3,641 | ' |
Income tax expense (benefit) | 14,048 | 11,762 | 27,391 | 22,934 | ' |
Net income (loss) | 31,809 | 28,156 | 64,550 | 55,279 | ' |
Total assets | 14,842,988 | 12,387,990 | 14,842,988 | 12,387,990 | ' |
Total intangibles | 830,809 | 723,282 | 830,809 | 723,282 | ' |
Operating Segments [Member] | Wealth Management [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' |
Provision for loan losses | ' | ' | ' | ' | ' |
Non-interest income | 8,033 | 7,263 | 15,356 | 14,378 | ' |
Non-interest expense | 6,452 | 6,402 | 12,744 | 12,488 | ' |
Intangible amortization | 72 | 76 | 144 | 152 | ' |
Income tax expense (benefit) | 548 | 293 | 899 | 643 | ' |
Net income (loss) | 961 | 492 | 1,569 | 1,095 | ' |
Total assets | 21,828 | 19,201 | 21,828 | 19,201 | ' |
Total intangibles | 10,864 | 11,160 | 10,864 | 11,160 | ' |
Operating Segments [Member] | Insurance [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | 25 | 27 | 50 | 55 | ' |
Interest expense | ' | ' | ' | ' | ' |
Net interest income | 25 | 27 | 50 | 55 | ' |
Provision for loan losses | ' | ' | ' | ' | ' |
Non-interest income | 2,999 | 3,243 | 7,209 | 6,802 | ' |
Non-interest expense | 2,911 | 2,810 | 5,957 | 5,621 | ' |
Intangible amortization | 101 | 102 | 202 | 203 | ' |
Income tax expense (benefit) | 8 | 130 | 393 | 369 | ' |
Net income (loss) | 4 | 228 | 707 | 664 | ' |
Total assets | 20,785 | 20,666 | 20,785 | 20,666 | ' |
Total intangibles | 10,324 | 10,729 | 10,324 | 10,729 | ' |
Operating Segments [Member] | Consumer Finance [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | 9,578 | 9,304 | 18,943 | 18,320 | ' |
Interest expense | 809 | 838 | 1,655 | 1,694 | ' |
Net interest income | 8,769 | 8,466 | 17,288 | 16,626 | ' |
Provision for loan losses | 1,778 | 1,678 | 3,235 | 3,205 | ' |
Non-interest income | 741 | 719 | 1,401 | 1,348 | ' |
Non-interest expense | 4,880 | 4,823 | 9,817 | 9,339 | ' |
Intangible amortization | ' | ' | ' | ' | ' |
Income tax expense (benefit) | 1,097 | 1,041 | 2,170 | 2,089 | ' |
Net income (loss) | 1,755 | 1,643 | 3,467 | 3,341 | ' |
Total assets | 182,401 | 179,396 | 182,401 | 179,396 | ' |
Total intangibles | 1,809 | 1,809 | 1,809 | 1,809 | ' |
Parent and Other [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | 1,676 | 1,293 | 3,475 | 3,316 | ' |
Interest expense | 709 | 2,278 | 1,670 | 4,526 | ' |
Net interest income | 967 | -985 | 1,805 | -1,210 | ' |
Provision for loan losses | 202 | 194 | 455 | 388 | ' |
Non-interest income | -3 | -468 | -2,039 | -1,857 | ' |
Non-interest expense | 599 | 685 | 1,341 | 1,181 | ' |
Intangible amortization | ' | ' | ' | ' | ' |
Income tax expense (benefit) | -139 | -1,006 | -1,092 | -1,988 | ' |
Net income (loss) | 302 | -1,326 | -938 | -2,648 | ' |
Total assets | -48,755 | -33,862 | -48,755 | -33,862 | ' |
Total intangibles | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Securities | Securities | Assets Still Held [Member] | Assets Still Held [Member] | |
Fair Value Measurements Disclosure [Line Items] | ' | ' | ' | ' |
Percentage of securities using market-based information | 99.90% | ' | ' | ' |
Percentage of securities using model-based techniques | 0.10% | ' | ' | ' |
Minimum corporation reserves for commercial loan | $500 | ' | ' | ' |
Number of single-issuer trust preferred securities transferred between hierarchy levels | 0 | 4 | ' | ' |
Change in unrealized gains or losses included in earnings relating to assets still held | 13,766 | 78 | 0 | 0 |
Impaired loans, carrying amount | 5,228 | ' | ' | ' |
Allocated allowance for loan losses | 1,469 | ' | ' | ' |
Fair value of allocated allowance | 4,076 | ' | ' | ' |
Estimated costs to sell | 317 | ' | ' | ' |
Provision for fair value measurements included in allowance for loan losses | 1,072 | ' | ' | ' |
Carrying amount of OREO | 7,631 | ' | ' | ' |
Written down of OREO | 5,531 | ' | ' | ' |
Fair value of OREO | 6,288 | 19,442 | ' | ' |
Estimated cost to sell OREO | 757 | ' | ' | ' |
Loss from OREO included in earnings | $2,100 | ' | ' | ' |
Short-term borrowings approximate fair value for amounts that mature, days, less than | '90 days | ' | ' | ' |
Fair_Value_Measurements_Balanc
Fair Value Measurements - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
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 | $1,382,989 | $1,139,524 |
Assets measured at fair value, Available for sale equity securities | 1,284 | 2,126 |
Assets measured at fair value, Available for sale securities | 1,384,273 | 1,141,650 |
Derivative financial instruments | 39,238 | 33,317 |
Assets measured at fair value, Total | 1,423,511 | 1,174,967 |
Derivative financial instruments | 42,533 | 43,369 |
Liabilities measured at fair value, Total | 42,533 | 43,369 |
U.S. Treasury [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value, Available for sale debt securities | 9,876 | ' |
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 | 291,955 | 330,985 |
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 | 14,411 | 17,002 |
Other Securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value, Available for sale debt securities | 16,473 | 16,100 |
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 | 435,075 | 250,881 |
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 | 604,513 | 491,199 |
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 | 1,625 | 1,762 |
Commercial 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 | 9,061 | ' |
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 | 1,167 | 2,061 |
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 | 117 | 65 |
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 |
Trading Assets [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 38,379 | 33,317 |
Not for Trading Assets [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 859 | ' |
Trading Liabilities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 38,297 | 33,236 |
Not for Trading Liabilities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 4,236 | 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 | 205 | 649 |
Assets measured at fair value, Available for sale securities | 205 | 649 |
Derivative financial instruments | ' | ' |
Assets measured at fair value, Total | 205 | 649 |
Derivative financial instruments | ' | ' |
Liabilities measured at fair value, Total | ' | ' |
Level 1 [Member] | U.S. Treasury [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] | 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] | 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] | Other 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 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] | Commercial 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] | 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 | 88 | 584 |
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 | 117 | 65 |
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] | 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 | 1,381,378 | 1,106,185 |
Assets measured at fair value, Available for sale equity securities | 636 | 1,067 |
Assets measured at fair value, Available for sale securities | 1,382,014 | 1,107,252 |
Derivative financial instruments | 39,238 | 33,317 |
Assets measured at fair value, Total | 1,421,252 | 1,140,569 |
Derivative financial instruments | 42,533 | 43,369 |
Liabilities measured at fair value, Total | 42,533 | 43,369 |
Level 2 [Member] | U.S. Treasury [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value, Available for sale debt securities | 9,876 | ' |
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 | 291,955 | 330,985 |
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 | 14,411 | 17,002 |
Level 2 [Member] | Other Securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Assets measured at fair value, Available for sale debt securities | 16,473 | 16,100 |
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 | 435,075 | 250,881 |
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 | 604,513 | 491,199 |
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 | 14 | 18 |
Level 2 [Member] | Commercial 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 | 9,061 | ' |
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 | 636 | 1,067 |
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] | 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] | Trading Assets [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 38,379 | 33,317 |
Level 2 [Member] | Not for Trading Assets [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 859 | ' |
Level 2 [Member] | Trading Liabilities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 38,297 | 33,236 |
Level 2 [Member] | Not for Trading Liabilities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative financial instruments | 4,236 | 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 | 1,611 | 33,339 |
Assets measured at fair value, Available for sale equity securities | 443 | 410 |
Assets measured at fair value, Available for sale securities | 2,054 | 33,749 |
Derivative financial instruments | ' | ' |
Assets measured at fair value, Total | 2,054 | 33,749 |
Derivative financial instruments | ' | ' |
Liabilities measured at fair value, Total | ' | ' |
Level 3 [Member] | U.S. Treasury [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] | 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] | 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] | Other 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 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 | 1,611 | 1,744 |
Level 3 [Member] | Commercial 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] | 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 | 443 | 410 |
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] | 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 |
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 $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | $33,749 | $32,565 |
Total gains (losses) - realized/unrealized, Included in earnings | 13,766 | 78 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 5,640 | 6,705 |
Accretion included in earnings | 659 | 3,176 |
Purchases | ' | ' |
Issuances | ' | 38 |
Sales/redemptions | -51,527 | -1,033 |
Settlements | -233 | -1,698 |
Transfers from Level 3 | ' | -6,082 |
Transfers into Level 3 | ' | ' |
Balance at end of period | 2,054 | 33,749 |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | 31,595 | 22,456 |
Total gains (losses) - realized/unrealized, Included in earnings | 13,766 | ' |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 5,608 | 6,701 |
Accretion included in earnings | 657 | 3,160 |
Purchases | ' | ' |
Issuances | ' | 38 |
Sales/redemptions | -51,527 | ' |
Settlements | -99 | -760 |
Transfers into Level 3 | ' | ' |
Balance at end of period | ' | 31,595 |
Other Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | ' | 6,892 |
Total gains (losses) - realized/unrealized, Included in earnings | ' | 78 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | ' | 21 |
Accretion included in earnings | ' | 4 |
Purchases | ' | ' |
Sales/redemptions | ' | -1,033 |
Transfers from Level 3 | ' | -5,962 |
Transfers into Level 3 | ' | ' |
Equity Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | 410 | 512 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 33 | 18 |
Purchases | ' | ' |
Transfers from Level 3 | ' | -120 |
Transfers into Level 3 | ' | ' |
Balance at end of period | 443 | 410 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance at beginning of period | 1,744 | 2,705 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | -1 | -35 |
Accretion included in earnings | 2 | 12 |
Purchases | ' | ' |
Settlements | -134 | -938 |
Transfers into Level 3 | ' | ' |
Balance at end of period | $1,611 | $1,744 |
Fair_Value_Measurements_Additi2
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $4,076 | $3,294 |
Other real estate owned | 6,288 | 19,442 |
Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 2,154 | 3,235 |
Other real estate owned | 3,831 | 4,485 |
Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 1,922 | 59 |
Other real estate owned | $2,457 | $14,957 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, carrying amount | $270,720 | $213,981 | $230,102 | $239,044 |
Securities available for sale, carrying amount | 1,384,273 | 1,141,650 | ' | ' |
Securities held to maturity, carrying amount | 1,427,852 | 1,199,169 | ' | ' |
Net loans, including loans held for sale, carrying amount | 10,219,830 | 9,402,448 | ' | ' |
Bank owned life insurance, carrying amount | 309,750 | 289,402 | ' | ' |
Derivative assets, carrying amount | 39,238 | 33,317 | ' | ' |
Accrued interest receivable, carrying amount | 37,036 | 35,520 | ' | ' |
Deposits, carrying amount | 11,057,770 | 10,198,232 | ' | ' |
Short-term borrowings, carrying amount | 1,504,510 | 1,241,239 | ' | ' |
Long-term debt, carrying amount | 335,854 | 143,928 | ' | ' |
Junior subordinated debt, carrying amount | 58,220 | 75,205 | ' | ' |
Derivative liabilities, carrying amount | 42,533 | 43,369 | ' | ' |
Accrued interest payable, carrying amount | 5,998 | 7,061 | ' | ' |
Cash and cash equivalents, fair value | 270,720 | 213,981 | ' | ' |
Securities available for sale, fair value | 1,384,273 | 1,141,650 | ' | ' |
Securities held to maturity, fair value | 1,439,241 | 1,189,563 | ' | ' |
Net loans, including loans held for sale, fair value | 10,041,484 | 9,243,780 | ' | ' |
Bank owned life insurance, fair value | 315,714 | 292,694 | ' | ' |
Derivative assets, fair value | 39,238 | 33,317 | ' | ' |
Accrued interest receivable, fair value | 37,036 | 35,520 | ' | ' |
Deposits, fair value | 11,065,652 | 10,208,268 | ' | ' |
Short-term borrowings, fair value | 1,504,510 | 1,241,239 | ' | ' |
Long-term debt, fair value | 338,373 | 145,995 | ' | ' |
Junior subordinated debt, fair value | 59,156 | 70,442 | ' | ' |
Derivative liabilities, fair value | 42,533 | 43,369 | ' | ' |
Accrued interest payable, fair value | 5,998 | 7,061 | ' | ' |
Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, fair value | 270,720 | 213,981 | ' | ' |
Securities available for sale, fair value | 205 | 649 | ' | ' |
Securities held to maturity, fair value | ' | ' | ' | ' |
Net loans, including loans held for sale, fair value | ' | ' | ' | ' |
Bank owned life insurance, fair value | 315,714 | 292,694 | ' | ' |
Derivative assets, fair value | ' | ' | ' | ' |
Accrued interest receivable, fair value | 37,036 | 35,520 | ' | ' |
Deposits, fair value | 8,359,933 | 7,592,159 | ' | ' |
Short-term borrowings, fair value | 1,504,510 | 1,241,239 | ' | ' |
Long-term debt, fair value | ' | ' | ' | ' |
Junior subordinated debt, fair value | ' | ' | ' | ' |
Derivative liabilities, fair value | ' | ' | ' | ' |
Accrued interest payable, fair value | 5,998 | 7,061 | ' | ' |
Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, fair value | ' | ' | ' | ' |
Securities available for sale, fair value | 1,382,014 | 1,107,252 | ' | ' |
Securities held to maturity, fair value | 1,433,404 | 1,182,671 | ' | ' |
Net loans, including loans held for sale, fair value | ' | ' | ' | ' |
Bank owned life insurance, fair value | ' | ' | ' | ' |
Derivative assets, fair value | 39,238 | 33,317 | ' | ' |
Accrued interest receivable, fair value | ' | ' | ' | ' |
Deposits, fair value | 2,705,719 | 2,616,109 | ' | ' |
Short-term borrowings, fair value | ' | ' | ' | ' |
Long-term debt, fair value | ' | ' | ' | ' |
Junior subordinated debt, fair value | ' | ' | ' | ' |
Derivative liabilities, fair value | 42,533 | 43,369 | ' | ' |
Accrued interest payable, fair value | ' | ' | ' | ' |
Level 3 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, fair value | ' | ' | ' | ' |
Securities available for sale, fair value | 2,054 | 33,749 | ' | ' |
Securities held to maturity, fair value | 5,837 | 6,892 | ' | ' |
Net loans, including loans held for sale, fair value | 10,041,484 | 9,243,780 | ' | ' |
Bank owned life insurance, fair value | ' | ' | ' | ' |
Derivative assets, fair value | ' | ' | ' | ' |
Accrued interest receivable, fair value | ' | ' | ' | ' |
Deposits, fair value | ' | ' | ' | ' |
Short-term borrowings, fair value | ' | ' | ' | ' |
Long-term debt, fair value | 338,373 | 145,995 | ' | ' |
Junior subordinated debt, fair value | 59,156 | 70,442 | ' | ' |
Derivative liabilities, fair value | ' | ' | ' | ' |
Accrued interest payable, fair value | ' | ' | ' | ' |