Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | FNB | |
Entity Registrant Name | FNB CORP/FL/ | |
Entity Central Index Key | 37808 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 174,693,549 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash and due from banks | $191,347 | $196,240 |
Interest bearing deposits with banks | 42,899 | 91,153 |
Cash and Cash Equivalents | 234,246 | 287,393 |
Securities available for sale | 1,537,080 | 1,534,065 |
Securities held to maturity (fair value of $1,536,449 and $1,468,258) | 1,513,204 | 1,453,355 |
Residential mortgage loans held for sale | 4,621 | 6,180 |
Loans and leases, net of unearned income of $50,916 and $56,131 | 11,404,099 | 11,247,038 |
Allowance for credit losses | -128,499 | -125,926 |
Net Loans and Leases | 11,275,600 | 11,121,112 |
Premises and equipment, net | 169,859 | 168,756 |
Goodwill | 829,726 | 832,213 |
Core deposit and other intangible assets, net | 45,520 | 47,504 |
Bank owned life insurance | 303,102 | 301,771 |
Other assets | 365,890 | 374,741 |
Total Assets | 16,278,848 | 16,127,090 |
Liabilities | ||
Non-interest bearing demand | 2,728,599 | 2,647,623 |
Interest bearing demand | 4,724,985 | 4,547,628 |
Savings | 1,763,275 | 1,575,922 |
Certificates and other time deposits | 2,589,184 | 2,611,035 |
Total Deposits | 11,806,043 | 11,382,208 |
Short-term borrowings | 1,740,500 | 2,041,658 |
Long-term borrowings | 541,474 | 541,443 |
Other liabilities | 135,555 | 140,325 |
Total Liabilities | 14,223,572 | 14,105,634 |
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 - 176,305,233 and 175,450,303 shares | 1,763 | 1,754 |
Additional paid-in capital | 1,805,991 | 1,798,984 |
Retained earnings | 193,461 | 176,120 |
Accumulated other comprehensive loss | -34,980 | -46,003 |
Treasury stock - 1,613,531 and 1,458,045 shares at cost | -17,841 | -16,281 |
Total Stockholders' Equity | 2,055,276 | 2,021,456 |
Total Liabilities and Stockholders' Equity | $16,278,848 | $16,127,090 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Securities held to maturity, fair value | $1,536,449 | $1,468,258 |
Unearned income on loans | $50,916 | $56,131 |
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 | 176,305,233 | 175,450,303 |
Treasury stock, shares | 1,613,531 | 1,458,045 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest Income | ||
Loans and leases, including fees | $117,739 | $104,097 |
Securities: | ||
Taxable | 14,214 | 12,287 |
Nontaxable | 1,373 | 1,291 |
Dividends | 11 | 179 |
Other | 32 | 26 |
Total Interest Income | 133,369 | 117,880 |
Interest Expense | ||
Deposits | 7,449 | 7,149 |
Short-term borrowings | 1,768 | 1,219 |
Long-term borrowings | 2,231 | 1,687 |
Total Interest Expense | 11,448 | 10,055 |
Net Interest Income | 121,921 | 107,825 |
Provision for credit losses | 8,136 | 7,006 |
Net Interest Income After Provision for Credit Losses | 113,785 | 100,819 |
Non-Interest Income | ||
Service charges | 15,817 | 15,269 |
Trust fees | 5,161 | 4,764 |
Insurance commissions and fees | 4,369 | 4,945 |
Securities commissions and fees | 3,057 | 2,391 |
Net securities (losses) gains | -9 | 9,461 |
Mortgage banking operations | 1,799 | 214 |
Bank owned life insurance | 1,843 | 2,185 |
Other | 6,145 | 2,841 |
Total Non-Interest Income | 38,182 | 42,070 |
Non-Interest Expense | ||
Salaries and employee benefits | 49,269 | 48,953 |
Net occupancy | 8,976 | 8,482 |
Equipment | 7,648 | 6,899 |
Amortization of intangibles | 2,115 | 2,283 |
Outside services | 8,777 | 7,237 |
FDIC insurance | 3,689 | 2,994 |
Merger related | 5,318 | |
Other | 14,181 | 12,000 |
Total Non-Interest Expense | 94,655 | 94,166 |
Income Before Income Taxes | 57,312 | 48,723 |
Income taxes | 16,969 | 14,199 |
Net Income | 40,343 | 34,524 |
Less: Preferred stock dividends | 2,010 | 2,322 |
Net Income Available to Common Stockholders | 38,333 | 32,202 |
Net Income per Common Share - Basic | $0.22 | $0.20 |
Net Income per Common Share - Diluted | $0.22 | $0.20 |
Cash Dividends per Common Share | $0.12 | $0.12 |
Comprehensive income | $51,366 | $47,407 |
Consolidated_Statements_of_Sto
Consolidated Statements 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, 2013 | $1,774,383 | $106,882 | $1,592 | $1,608,117 | $121,870 | ($56,924) | ($7,154) |
Comprehensive income | 47,407 | 34,524 | 12,883 | ||||
Dividends declared: | |||||||
Preferred stock | -2,322 | -2,322 | |||||
Common stock: $0.12/share | -20,016 | -20,016 | |||||
Issuance of common stock | 2,347 | 12 | 5,939 | -228 | -3,376 | ||
Issuance of common stock - acquisitions | 81,397 | 67 | 81,330 | ||||
Restricted stock compensation | 567 | 567 | |||||
Tax benefit of stock-based compensation | 1,224 | 1,224 | |||||
Balance at Mar. 31, 2014 | 1,884,987 | 106,882 | 1,671 | 1,697,177 | 133,828 | -44,041 | -10,530 |
Balance at Dec. 31, 2014 | 2,021,456 | 106,882 | 1,754 | 1,798,984 | 176,120 | -46,003 | -16,281 |
Comprehensive income | 51,366 | 40,343 | 11,023 | ||||
Dividends declared: | |||||||
Preferred stock | -2,010 | -2,010 | |||||
Common stock: $0.12/share | -20,992 | -20,992 | |||||
Issuance of common stock | 4,435 | 9 | 5,986 | -1,560 | |||
Restricted stock compensation | 340 | 340 | |||||
Tax benefit of stock-based compensation | 681 | 681 | |||||
Balance at Mar. 31, 2015 | $2,055,276 | $106,882 | $1,763 | $1,805,991 | $193,461 | ($34,980) | ($17,841) |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | ||
Common stock dividends per share | $0.12 | $0.12 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating Activities | ||
Net income | $40,343 | $34,524 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
Depreciation, amortization and accretion | 11,725 | 8,339 |
Provision for credit losses | 8,136 | 7,006 |
Deferred tax (benefit) expenses | 3,217 | -2,154 |
Net securities losses (gains) | 9 | -9,461 |
Tax benefit of stock-based compensation | -681 | -1,224 |
Loans originated for sale | -71,499 | -18,245 |
Loans sold | 74,870 | 22,635 |
Gain on sale of loans | -1,813 | -1,193 |
Net change in: | ||
Interest receivable | -1,704 | -123 |
Interest payable | -178 | -750 |
Securities classified as trading in business combination and sold | 203,178 | |
Bank owned life insurance | -1,323 | -1,513 |
Other, net | 5,187 | 3,096 |
Net cash flows provided by operating activities | 66,289 | 244,115 |
Investing Activities | ||
Net change in loans and leases | -167,685 | -140,938 |
Securities available for sale: | ||
Purchases | -90,156 | -318,332 |
Sales | 33,228 | 85,877 |
Maturities | 66,275 | 130,641 |
Securities held to maturity: | ||
Purchases | -130,506 | -266,486 |
Maturities | 69,394 | 44,159 |
Purchase of bank owned life insurance | -8 | -4,433 |
Withdrawal/surrender of bank owned life insurance | 716 | |
Increase in premises and equipment | -6,199 | -6,042 |
Net cash received in business combinations | 26,964 | |
Net cash flows used in investing activities | -225,657 | -447,874 |
Financing Activities | ||
Demand (non-interest bearing and interest bearing) and savings accounts | 445,685 | 253,935 |
Time deposits | -20,779 | -44,043 |
Short-term borrowings | -301,158 | -24,615 |
Increase in long-term borrowings | 6,598 | 108,079 |
Decrease in long-term borrowings | -6,579 | -39,966 |
Net proceeds from issuance of common stock | 4,775 | 3,755 |
Tax benefit of stock-based compensation | 681 | 1,224 |
Cash dividends paid: | ||
Preferred stock | -2,010 | -2,322 |
Common stock | -20,992 | -20,016 |
Net cash flows provided by financing activities | 106,221 | 236,031 |
Net (Decrease) Increase in Cash and Cash Equivalents | -53,147 | 32,272 |
Cash and cash equivalents at beginning of period | 287,393 | 213,981 |
Cash and Cash Equivalents at End of Period | $234,246 | $246,253 |
Business
Business | 3 Months Ended |
Mar. 31, 2015 | |
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 March 31, 2015, the Corporation had 287 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 provides a full line of consumer banking products and services including 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 73 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee as of March 31, 2015. |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
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, Bank Capital Services, LLC and F.N.B. Capital Corporation, 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 27, 2015. |
Use_of_Estimates
Use of Estimates | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [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 credit losses, securities valuations, goodwill and other intangible assets and income taxes. |
Mergers_and_Acquisitions
Mergers and Acquisitions | 3 Months Ended |
Mar. 31, 2015 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | MERGERS AND ACQUISITIONS |
OBA Financial Services, Inc. | |
On September 19, 2014, the Corporation completed its acquisition of OBA Financial Services, Inc. (OBA), a bank holding company based in Germantown, Maryland. On the acquisition date, the estimated fair values of OBA included $390,128 in assets, $291,393 in loans and $295,922 in deposits. The acquisition was valued at approximately $85,554 and resulted in the Corporation issuing 7,170,037 shares of its common stock in exchange for 4,025,895 shares of OBA common stock. The Corporation also acquired the outstanding stock options of OBA that became fully vested upon the acquisition. The assets and liabilities of OBA were recorded on the Corporation’s consolidated balance sheet at their preliminary estimated fair values as of September 19, 2014, the acquisition date, and OBA’s results of operations have been included in the Corporation’s consolidated statement of comprehensive income since that date. OBA’s banking affiliate, OBA Bank, was merged into FNBPA on September 19, 2014. Based on a preliminary purchase price allocation, the Corporation recorded $20,139 in goodwill and $4,304 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. | |
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 $596,122 in assets, $304,932 in loans and $532,197 in deposits. The acquisition was valued at $80,547 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 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 the purchase price allocation, the Corporation recorded $42,451 in goodwill and $6,591 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 | 3 Months Ended |
Mar. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Standards | NEW ACCOUNTING STANDARDS |
Cloud Computing Arrangements | |
In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-05, Intangibles-Goodwill and Other-Internal-Use Software. ASU 2015-05 provides guidance to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement environment. The amendments in this Update provide a basis for evaluating whether a cloud computing arrangement includes a software license to internal-use software, and how to account for the software license element of the arrangement. This update supersedes the existing requirement to analogize to operating lease guidance in accounting for some software licenses. The requirements of ASU 2015-05 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply ASU 2015-05 either prospectively or retrospectively. The Corporation is evaluating this new guidance and has not yet determined which approach it will adopt to apply the amendments in ASU 2015-05 or the impact that the adoption of this update will have on its financial statements. | |
Consolidation | |
In February 2015, the FASB issued ASU No. 2015-02, Consolidation. ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. This update modifies the evaluation of whether limited partnerships or similar legal entities are variable interest entities (VIEs) or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The requirements of ASU 2015-02 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply ASU 2015-02 either retrospectively or by using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. 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 Statement | |
In January 2015, the FASB issued ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items. The FASB issued ASU 2015-01 as part of its Simplification Initiative to reduce complexity in accounting standards. ASU 2015-01 eliminates from GAAP the concept of extraordinary items. The requirements of ASU 2015-01 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply ASU 2015-01 prospectively, or retrospectively to all prior periods presented in the financial statements. The adoption of this update will not have an effect on the financial statements, results of operations or liquidity of the Corporation, as the Corporation has not reported extraordinary items. |
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 29,637 | $ | 300 | $ | — | $ | 29,937 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 388,363 | 2,818 | (521 | ) | 390,660 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 494,497 | 11,064 | — | 505,561 | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 573,738 | 3,646 | (5,367 | ) | 572,017 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,359 | 5 | — | 1,364 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 6,844 | — | (1 | ) | 6,843 | ||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 12,713 | 476 | (14 | ) | 13,175 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,643 | 373 | (785 | ) | 16,231 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,523,794 | 18,682 | (6,688 | ) | 1,535,788 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 261 | — | 1,292 | |||||||||||||||||||||||||||||||||
$ | 1,524,825 | $ | 18,943 | $ | (6,688 | ) | $ | 1,537,080 | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 29,604 | $ | 78 | $ | — | $ | 29,682 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 338,330 | 742 | (1,939 | ) | 337,133 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 546,572 | 7,548 | (35 | ) | 554,085 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 580,601 | 1,617 | (9,047 | ) | 573,171 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,414 | 17 | — | 1,431 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 7,891 | — | (11 | ) | 7,880 | ||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 12,713 | 477 | (32 | ) | 13,158 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,615 | 420 | (857 | ) | 16,178 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,533,740 | 10,899 | (11,921 | ) | 1,532,718 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 316 | — | 1,347 | |||||||||||||||||||||||||||||||||
$ | 1,534,771 | $ | 11,215 | $ | (11,921 | ) | $ | 1,534,065 | |||||||||||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 500 | $ | 182 | $ | — | $ | 682 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 146,578 | 1,731 | (149 | ) | 148,160 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 674,101 | 19,130 | (20 | ) | 693,211 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 505,859 | 3,633 | (4,884 | ) | 504,608 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 3,840 | 21 | — | 3,861 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 17,484 | 385 | — | 17,869 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 164,842 | 3,372 | (156 | ) | 168,058 | ||||||||||||||||||||||||||||||||
$ | 1,513,204 | $ | 28,454 | $ | (5,209 | ) | $ | 1,536,449 | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 502 | $ | 168 | $ | — | $ | 670 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 101,602 | 885 | (524 | ) | 101,963 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 677,169 | 16,712 | (346 | ) | 693,535 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 501,965 | 1,858 | (7,329 | ) | 496,494 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 4,285 | 28 | — | 4,313 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 17,560 | 179 | — | 17,739 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 150,272 | 3,315 | (43 | ) | 153,544 | ||||||||||||||||||||||||||||||||
$ | 1,453,355 | $ | 23,145 | $ | (8,242 | ) | $ | 1,468,258 | |||||||||||||||||||||||||||||
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 its 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 March 31, 2015 and December 31, 2014, the Corporation did not hold any trading securities. | |||||||||||||||||||||||||||||||||||||
Gross gains and gross losses were realized on securities as follows: | |||||||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||||||
Gross gains | $ | — | $ | 18,009 | |||||||||||||||||||||||||||||||||
Gross losses | (9 | ) | (8,548 | ) | |||||||||||||||||||||||||||||||||
$ | (9 | ) | $ | 9,461 | |||||||||||||||||||||||||||||||||
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. These were previously classified as collateralized debt obligations (CDOs) available for sale. 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 (Dodd-Frank Act), and as such, was required to be disposed of by July 2015. Partially offsetting this gain was a net loss of $4,305 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 March 31, 2015, 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 | $ | 4,985 | $ | 5,069 | $ | 1,282 | $ | 1,285 | |||||||||||||||||||||||||||||
Due from one to five years | 423,890 | 426,811 | 138,269 | 139,139 | |||||||||||||||||||||||||||||||||
Due from five to ten years | 11,591 | 12,018 | 72,457 | 74,672 | |||||||||||||||||||||||||||||||||
Due after ten years | 6,890 | 6,105 | 99,912 | 101,804 | |||||||||||||||||||||||||||||||||
447,356 | 450,003 | 311,920 | 316,900 | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 494,497 | 505,561 | 674,101 | 693,211 | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 573,738 | 572,017 | 505,859 | 504,608 | |||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,359 | 1,364 | 3,840 | 3,861 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 6,844 | 6,843 | 17,484 | 17,869 | |||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 1,292 | — | — | |||||||||||||||||||||||||||||||||
$ | 1,524,825 | $ | 1,537,080 | $ | 1,513,204 | $ | 1,536,449 | ||||||||||||||||||||||||||||||
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 March 31, 2015 and December 31, 2014, securities with a carrying value of $1,315,565 and $1,036,380, respectively, were pledged to secure public deposits, trust deposits and for other purposes as required by law. Securities with a carrying value of $807,261 and $892,647 at March 31, 2015 and December 31, 2014, 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 | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 3 | $ | 59,857 | $ | (142 | ) | 5 | $ | 55,612 | $ | (379 | ) | 8 | $ | 115,469 | $ | (521 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 4 | 61,998 | (199 | ) | 17 | 242,124 | (5,168 | ) | 21 | 304,122 | (5,367 | ) | |||||||||||||||||||||||||
Commercial mortgage-backed securities | 1 | 6,843 | (1 | ) | — | — | — | 1 | 6,843 | (1 | ) | ||||||||||||||||||||||||||
States of the U.S. and political subdivisions | — | — | — | 1 | 1,177 | (14 | ) | 1 | 1,177 | (14 | ) | ||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 6,105 | (785 | ) | 4 | 6,105 | (785 | ) | ||||||||||||||||||||||||||
8 | $ | 128,698 | $ | (342 | ) | 27 | $ | 305,018 | $ | (6,346 | ) | 35 | $ | 433,716 | $ | (6,688 | ) | ||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 7 | $ | 89,986 | $ | (275 | ) | 7 | $ | 99,326 | $ | (1,664 | ) | 14 | $ | 189,312 | $ | (1,939 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 2 | 45,145 | (35 | ) | — | — | — | 2 | 45,145 | (35 | ) | ||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 9 | 166,908 | (1,238 | ) | 16 | 225,700 | (7,809 | ) | 25 | 392,608 | (9,047 | ) | |||||||||||||||||||||||||
Commercial mortgage-backed securities | 1 | 7,880 | (11 | ) | — | — | — | 1 | 7,880 | (11 | ) | ||||||||||||||||||||||||||
States of the U.S. and political subdivisions | — | — | — | 1 | 1,159 | (32 | ) | 1 | 1,159 | (32 | ) | ||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 6,030 | (857 | ) | 4 | 6,030 | (857 | ) | ||||||||||||||||||||||||||
19 | $ | 309,919 | $ | (1,559 | ) | 28 | $ | 332,215 | $ | (10,362 | ) | 47 | $ | 642,134 | $ | (11,921 | ) | ||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 1 | $ | 14,970 | $ | (30 | ) | 1 | $ | 14,881 | $ | (119 | ) | 2 | $ | 29,851 | $ | (149 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | — | — | — | 1 | 1,234 | (20 | ) | 1 | 1,234 | (20 | ) | ||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 4 | 69,926 | (402 | ) | 14 | 185,466 | (4,482 | ) | 18 | 255,392 | (4,884 | ) | |||||||||||||||||||||||||
States of the U.S. and political subdivisions | 8 | 13,418 | (156 | ) | — | — | — | 8 | 13,418 | (156 | ) | ||||||||||||||||||||||||||
13 | $ | 98,314 | $ | (588 | ) | 16 | $ | 201,581 | $ | (4,621 | ) | 29 | $ | 299,895 | $ | (5,209 | ) | ||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 24,989 | $ | (40 | ) | 2 | $ | 29,516 | $ | (484 | ) | 4 | $ | 54,505 | $ | (524 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 1 | 1,099 | (1 | ) | 4 | 45,042 | (345 | ) | 5 | 46,141 | (346 | ) | |||||||||||||||||||||||||
Agency collateralized mortgage obligations | 8 | 104,071 | (630 | ) | 14 | 189,642 | (6,699 | ) | 22 | 293,713 | (7,329 | ) | |||||||||||||||||||||||||
States of the U.S. and political subdivisions | 1 | 1,427 | (4 | ) | 4 | 5,453 | (39 | ) | 5 | 6,880 | (43 | ) | |||||||||||||||||||||||||
12 | $ | 131,586 | $ | (675 | ) | 24 | $ | 269,653 | $ | (7,567 | ) | 36 | $ | 401,239 | $ | (8,242 | ) | ||||||||||||||||||||
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 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 TPS had an amortized cost and estimated fair value of $6,890 and $6,105 at March 31, 2015, respectively. The Corporation has concluded from its analysis performed at March 31, 2015 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 | Equities | Total | |||||||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||||||||
Obligations | |||||||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||||||||||
Beginning balance | — | $ | 27 | $ | 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 | $ | 27 | ||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 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 | |||||||||||||||||||||||||||||||
The Corporation did not recognize any impairment losses on securities for the three months ended March 31, 2015 or 2014. | |||||||||||||||||||||||||||||||||||||
States of the U.S. and Political Subdivisions | |||||||||||||||||||||||||||||||||||||
The Corporation’s municipal bond portfolio of $178,017 as of March 31, 2015 is highly rated with an average entity-specific rating of AA and 99.0% of the portfolio rated A or better. General obligation bonds comprise 99.5% of the portfolio. Geographically, municipal bonds support the Corporation’s primary footprint as 89.9% of the securities are from municipalities located throughout Pennsylvania, Ohio and Maryland. The average holding size of the securities in the municipal bond portfolio is $1,203. In addition to the strong stand-alone ratings, 88.0% 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 | 3 Months Ended |
Mar. 31, 2015 | |
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 March 31, 2015 and December 31, 2014, the Corporation’s FHLB stock totaled $42,000 and $54,751, respectively, and is included in other assets on the balance sheet. The Corporation accounts for the stock in accordance with ASC 325, which requires the investment to be carried at cost and evaluated for impairment based on the ultimate recoverability of the par value. Due to the continued improvement of the FHLB’s financial performance and stability over the past several years, along with a special dividend during the first quarter of 2015 and quarterly cash dividends in 2014 and the first quarter of 2015, 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_Leases
Loans and Leases | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Loans and Leases | LOANS AND LEASES | ||||||||||||||||||||||||
Following is a summary of loans and leases, net of unearned income: | |||||||||||||||||||||||||
Originated | Acquired | Total | |||||||||||||||||||||||
Loans | Loans | Loans and | |||||||||||||||||||||||
Leases | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 3,082,385 | $ | 734,804 | $ | 3,817,189 | |||||||||||||||||||
Commercial and industrial | 2,281,075 | 116,656 | 2,397,731 | ||||||||||||||||||||||
Commercial leases | 180,207 | — | 180,207 | ||||||||||||||||||||||
Total commercial loans and leases | 5,543,667 | 851,460 | 6,395,127 | ||||||||||||||||||||||
Direct installment | 1,594,846 | 58,775 | 1,653,621 | ||||||||||||||||||||||
Residential mortgages | 877,437 | 421,660 | 1,299,097 | ||||||||||||||||||||||
Indirect installment | 903,780 | 1,424 | 905,204 | ||||||||||||||||||||||
Consumer lines of credit | 953,569 | 154,849 | 1,108,418 | ||||||||||||||||||||||
Other | 42,632 | — | 42,632 | ||||||||||||||||||||||
$ | 9,915,931 | $ | 1,488,168 | $ | 11,404,099 | ||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 3,031,810 | $ | 783,898 | $ | 3,815,708 | |||||||||||||||||||
Commercial and industrial | 2,197,793 | 120,222 | 2,318,015 | ||||||||||||||||||||||
Commercial leases | 177,824 | — | 177,824 | ||||||||||||||||||||||
Total commercial loans and leases | 5,407,427 | 904,120 | 6,311,547 | ||||||||||||||||||||||
Direct installment | 1,579,770 | 64,851 | 1,644,621 | ||||||||||||||||||||||
Residential mortgages | 817,586 | 445,467 | 1,263,053 | ||||||||||||||||||||||
Indirect installment | 873,645 | 1,906 | 875,551 | ||||||||||||||||||||||
Consumer lines of credit | 946,427 | 164,549 | 1,110,976 | ||||||||||||||||||||||
Other | 41,290 | — | 41,290 | ||||||||||||||||||||||
$ | 9,666,145 | $ | 1,580,893 | $ | 11,247,038 | ||||||||||||||||||||
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 credit cards, mezzanine loans and student loans. | |||||||||||||||||||||||||
The loan and lease 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 total loan portfolio contains consumer finance loans to individuals in Pennsylvania, Ohio, Tennessee and Kentucky, which totaled $174,239 or 1.5% of total loans and leases at March 31, 2015, compared to $180,588 or 1.6% of total loans and leases at December 31, 2014. Due to the relative size of the consumer finance loan portfolio, they are not segregated from other consumer loans. | |||||||||||||||||||||||||
As of March 31, 2015, 40.8% of the commercial real estate loans were owner-occupied, while the remaining 59.2% were non-owner-occupied, compared to 41.6% and 58.4%, respectively, as of December 31, 2014. As of March 31, 2015 and December 31, 2014, the Corporation had commercial construction loans of $227,179 and $296,156, respectively, representing 2.0% and 2.6% of total loans and leases at those respective dates. | |||||||||||||||||||||||||
Acquired Loans | |||||||||||||||||||||||||
All acquired loans were initially recorded at fair value at the acquisition date. The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Accounted for under ASC 310-30: | |||||||||||||||||||||||||
Outstanding balance | $ | 1,513,616 | $ | 1,597,558 | |||||||||||||||||||||
Carrying amount | 1,259,995 | 1,344,171 | |||||||||||||||||||||||
Accounted for under ASC 310-20: | |||||||||||||||||||||||||
Outstanding balance | 232,524 | 242,488 | |||||||||||||||||||||||
Carrying amount | 220,921 | 228,748 | |||||||||||||||||||||||
Total acquired loans: | |||||||||||||||||||||||||
Outstanding balance | 1,746,140 | 1,840,046 | |||||||||||||||||||||||
Carrying amount | 1,480,916 | 1,572,919 | |||||||||||||||||||||||
The carrying amount of purchased credit impaired loans included in the table above totaled $7,100 at March 31, 2015 and $9,556 at December 31, 2014, representing less than 1% of the carrying amount of total acquired loans as of each date. | |||||||||||||||||||||||||
The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-30. Loans accounted for under ASC 310-20 are not included in this table. | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Balance at beginning of period | $ | 331,899 | $ | 305,646 | |||||||||||||||||||||
Reduction due to unexpected early payoffs | (11,909 | ) | (12,694 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | 7,676 | 768 | |||||||||||||||||||||||
Disposals/transfers | (118 | ) | (944 | ) | |||||||||||||||||||||
Accretion | (16,264 | ) | (15,913 | ) | |||||||||||||||||||||
Balance at end of period | $ | 311,284 | $ | 276,863 | |||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||
Management monitors the credit quality of the Corporation’s loan and lease portfolio on an ongoing basis. Measurement of delinquency and past due status is 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. | |||||||||||||||||||||||||
Following is a summary of non-performing assets: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Non-accrual loans | $ | 45,029 | $ | 45,113 | |||||||||||||||||||||
Troubled debt restructurings | 22,022 | 23,439 | |||||||||||||||||||||||
Total non-performing loans | 67,051 | 68,552 | |||||||||||||||||||||||
Other real estate owned (OREO) | 40,796 | 41,466 | |||||||||||||||||||||||
Total non-performing assets | $ | 107,847 | $ | 110,018 | |||||||||||||||||||||
Asset quality ratios: | |||||||||||||||||||||||||
Non-performing loans as a percent of total loans and leases | 0.59 | % | 0.61 | % | |||||||||||||||||||||
Non-performing loans + OREO as a percent of total loans and leases + OREO | 0.94 | % | 0.97 | % | |||||||||||||||||||||
Non-performing assets as a percent of total assets | 0.66 | % | 0.68 | % | |||||||||||||||||||||
The carrying value of residential OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure amounted to $3,541 at March 31, 2015. Also, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at March 31, 2015 amounted to $14,186. | |||||||||||||||||||||||||
The following tables provide an analysis of the aging of the Corporation’s past due loans by class, segregated by loans and leases originated and loans acquired: | |||||||||||||||||||||||||
30-89 Days | > 90 Days | Non-Accrual | Total | Current | Total | ||||||||||||||||||||
Past Due | Past Due and | Past Due | Loans and | ||||||||||||||||||||||
Still Accruing | Leases | ||||||||||||||||||||||||
Originated Loans and Leases | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 6,655 | $ | 130 | $ | 23,653 | $ | 30,438 | $ | 3,051,947 | $ | 3,082,385 | |||||||||||||
Commercial and industrial | 2,939 | 3 | 8,846 | 11,788 | 2,269,287 | 2,281,075 | |||||||||||||||||||
Commercial leases | 1,097 | — | 732 | 1,829 | 178,378 | 180,207 | |||||||||||||||||||
Total commercial loans and leases | 10,691 | 133 | 33,231 | 44,055 | 5,499,612 | 5,543,667 | |||||||||||||||||||
Direct installment | 8,748 | 3,575 | 6,464 | 18,787 | 1,576,059 | 1,594,846 | |||||||||||||||||||
Residential mortgages | 7,040 | 1,731 | 3,625 | 12,396 | 865,041 | 877,437 | |||||||||||||||||||
Indirect installment | 5,015 | 409 | 1,111 | 6,535 | 897,245 | 903,780 | |||||||||||||||||||
Consumer lines of credit | 2,501 | 656 | 598 | 3,755 | 949,814 | 953,569 | |||||||||||||||||||
Other | 47 | 39 | — | 86 | 42,546 | 42,632 | |||||||||||||||||||
$ | 34,042 | $ | 6,543 | $ | 45,029 | $ | 85,614 | $ | 9,830,317 | $ | 9,915,931 | ||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 9,601 | $ | 313 | $ | 24,132 | $ | 34,046 | $ | 2,997,764 | $ | 3,031,810 | |||||||||||||
Commercial and industrial | 2,446 | 3 | 8,310 | 10,759 | 2,187,034 | 2,197,793 | |||||||||||||||||||
Commercial leases | 961 | 43 | 722 | 1,726 | 176,098 | 177,824 | |||||||||||||||||||
Total commercial loans and leases | 13,008 | 359 | 33,164 | 46,531 | 5,360,896 | 5,407,427 | |||||||||||||||||||
Direct installment | 9,333 | 3,617 | 7,117 | 20,067 | 1,559,703 | 1,579,770 | |||||||||||||||||||
Residential mortgages | 8,709 | 3,891 | 2,964 | 15,564 | 802,022 | 817,586 | |||||||||||||||||||
Indirect installment | 7,804 | 684 | 1,149 | 9,637 | 864,008 | 873,645 | |||||||||||||||||||
Consumer lines of credit | 2,408 | 562 | 719 | 3,689 | 942,738 | 946,427 | |||||||||||||||||||
Other | 13 | 135 | — | 148 | 41,142 | 41,290 | |||||||||||||||||||
$ | 41,275 | $ | 9,248 | $ | 45,113 | $ | 95,636 | $ | 9,570,509 | $ | 9,666,145 | ||||||||||||||
30-89 | > 90 Days | Total | Current | Discount | Total | ||||||||||||||||||||
Days | Past Due | Past | Loans | ||||||||||||||||||||||
Past Due | and Still | Due (1) (2) | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Acquired Loans | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 8,813 | $ | 12,445 | $ | 21,258 | $ | 753,073 | $ | (39,527 | ) | $ | 734,804 | ||||||||||||
Commercial and industrial | 1,023 | 1,651 | 2,674 | 122,604 | (8,622 | ) | 116,656 | ||||||||||||||||||
Total commercial loans | 9,836 | 14,096 | 23,932 | 875,677 | (48,149 | ) | 851,460 | ||||||||||||||||||
Direct installment | 1,199 | 1,112 | 2,311 | 55,476 | 988 | 58,775 | |||||||||||||||||||
Residential mortgages | 7,695 | 18,535 | 26,230 | 434,061 | (38,631 | ) | 421,660 | ||||||||||||||||||
Indirect installment | 9 | 17 | 26 | 1,648 | (250 | ) | 1,424 | ||||||||||||||||||
Consumer lines of credit | 1,115 | 2,146 | 3,261 | 156,676 | (5,088 | ) | 154,849 | ||||||||||||||||||
$ | 19,854 | $ | 35,906 | $ | 55,760 | $ | 1,523,538 | $ | (91,130 | ) | $ | 1,488,168 | |||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 12,076 | $ | 12,368 | $ | 24,444 | $ | 799,991 | $ | (40,537 | ) | $ | 783,898 | ||||||||||||
Commercial and industrial | 687 | 1,968 | 2,655 | 127,535 | (9,968 | ) | 120,222 | ||||||||||||||||||
Total commercial loans | 12,763 | 14,336 | 27,099 | 927,526 | (50,505 | ) | 904,120 | ||||||||||||||||||
Direct installment | 2,670 | 1,443 | 4,113 | 59,532 | 1,206 | 64,851 | |||||||||||||||||||
Residential mortgages | 8,159 | 19,936 | 28,095 | 456,810 | (39,438 | ) | 445,467 | ||||||||||||||||||
Indirect installment | 38 | 30 | 68 | 2,179 | (341 | ) | 1,906 | ||||||||||||||||||
Consumer lines of credit | 1,048 | 2,279 | 3,327 | 166,912 | (5,690 | ) | 164,549 | ||||||||||||||||||
$ | 24,678 | $ | 38,024 | $ | 62,702 | $ | 1,612,959 | $ | (94,768 | ) | $ | 1,580,893 | |||||||||||||
-1 | Past due information for acquired loans is based on the contractual balance outstanding at March 31, 2015 and December 31, 2014. | ||||||||||||||||||||||||
-2 | Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion method. | ||||||||||||||||||||||||
The Corporation utilizes the following categories to monitor credit quality within its commercial loan and lease portfolio: | |||||||||||||||||||||||||
Rating Category | Definition | ||||||||||||||||||||||||
Pass | in general, the condition and performance of the borrower 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 and performance of the borrower has significantly deteriorated and 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 and lease portfolio permits management’s use of transition matrices 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 leases and conforms with regulatory categories. In general, loan and lease risk ratings within each category are reviewed on an ongoing basis according to the Corporation’s policy for each class of loans and leases. 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 and lease portfolio. Loans and leases within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans and leases 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 and leases by credit quality category, segregated by loans and leases originated and loans acquired: | |||||||||||||||||||||||||
Commercial Loan and Lease Credit Quality Categories | |||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
Originated Loans and Leases | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 2,960,542 | $ | 52,926 | $ | 68,182 | $ | 735 | $ | 3,082,385 | |||||||||||||||
Commercial and industrial | 2,190,066 | 53,482 | 36,081 | 1,446 | 2,281,075 | ||||||||||||||||||||
Commercial leases | 177,091 | 2,222 | 894 | — | 180,207 | ||||||||||||||||||||
$ | 5,327,699 | $ | 108,630 | $ | 105,157 | $ | 2,181 | $ | 5,543,667 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 2,890,830 | $ | 58,630 | $ | 81,951 | $ | 399 | $ | 3,031,810 | |||||||||||||||
Commercial and industrial | 2,085,893 | 71,420 | 39,684 | 796 | 2,197,793 | ||||||||||||||||||||
Commercial leases | 174,677 | 2,198 | 949 | — | 177,824 | ||||||||||||||||||||
$ | 5,151,400 | $ | 132,248 | $ | 122,584 | $ | 1,195 | $ | 5,407,427 | ||||||||||||||||
Acquired Loans | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 579,462 | $ | 64,892 | $ | 90,450 | — | $ | 734,804 | ||||||||||||||||
Commercial and industrial | 102,974 | 2,411 | 11,271 | — | 116,656 | ||||||||||||||||||||
$ | 682,436 | $ | 67,303 | $ | 101,721 | — | $ | 851,460 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 610,260 | $ | 73,891 | $ | 99,747 | — | $ | 783,898 | ||||||||||||||||
Commercial and industrial | 103,862 | 3,506 | 12,854 | — | 120,222 | ||||||||||||||||||||
$ | 714,122 | $ | 77,397 | $ | 112,601 | — | $ | 904,120 | |||||||||||||||||
Credit quality information for acquired loans is based on the contractual balance outstanding at March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||
The Corporation uses delinquency transition matrices 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, FICO scores and other external 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 | |||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Direct installment | $ | 1,581,078 | $ | 13,768 | $ | 1,594,846 | |||||||||||||||||||
Residential mortgages | 862,965 | 14,472 | 877,437 | ||||||||||||||||||||||
Indirect installment | 902,515 | 1,265 | 903,780 | ||||||||||||||||||||||
Consumer lines of credit | 951,980 | 1,589 | 953,569 | ||||||||||||||||||||||
Other | 42,632 | — | 42,632 | ||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Direct installment | $ | 1,565,090 | $ | 14,680 | $ | 1,579,770 | |||||||||||||||||||
Residential mortgages | 802,522 | 15,064 | 817,586 | ||||||||||||||||||||||
Indirect installment | 872,340 | 1,305 | 873,645 | ||||||||||||||||||||||
Consumer lines of credit | 944,631 | 1,796 | 946,427 | ||||||||||||||||||||||
Other | 41,290 | — | 41,290 | ||||||||||||||||||||||
Loans and leases 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 and lease contract is doubtful. Typically, the Corporation does not consider loans and leases 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 and commercial loan and lease relationships less than $500 based on loan and lease segment loss given default. 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 and leases, 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 and leases considered to be impaired, by class of loan and lease: | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Specific | Average | ||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Reserve | Recorded | ||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||
Balance | Specific | Specific | |||||||||||||||||||||||
Reserve | Reserve | ||||||||||||||||||||||||
At or for the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 34,483 | $ | 25,015 | $ | 1,012 | $ | 26,027 | $ | 735 | $ | 26,176 | |||||||||||||
Commercial and industrial | 11,251 | 8,138 | 1,928 | 10,066 | 1,446 | 9,811 | |||||||||||||||||||
Commercial leases | 732 | 732 | — | 732 | — | 727 | |||||||||||||||||||
Total commercial loans and leases | 46,466 | 33,885 | 2,940 | 36,825 | 2,181 | 36,714 | |||||||||||||||||||
Direct installment | 13,977 | 13,768 | — | 13,768 | — | 14,343 | |||||||||||||||||||
Residential mortgages | 15,718 | 14,472 | — | 14,472 | — | 15,547 | |||||||||||||||||||
Indirect installment | 1,425 | 1,265 | — | 1,265 | — | 1,363 | |||||||||||||||||||
Consumer lines of credit | 1,600 | 1,589 | — | 1,589 | — | 1,696 | |||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||
$ | 79,186 | $ | 64,979 | $ | 2,940 | $ | 67,919 | $ | 2,181 | $ | 69,663 | ||||||||||||||
At or for the Year Ended December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 34,583 | $ | 25,443 | $ | 883 | $ | 26,326 | $ | 399 | $ | 30,807 | |||||||||||||
Commercial and industrial | 11,412 | 7,609 | 1,948 | 9,557 | 780 | 9,510 | |||||||||||||||||||
Commercial leases | 722 | 722 | — | 722 | — | 686 | |||||||||||||||||||
Total commercial loans and leases | 46,717 | 33,774 | 2,831 | 36,605 | 1,179 | 41,003 | |||||||||||||||||||
Direct installment | 14,987 | 14,680 | — | 14,680 | — | 14,248 | |||||||||||||||||||
Residential mortgages | 16,791 | 15,064 | — | 15,064 | — | 16,924 | |||||||||||||||||||
Indirect installment | 1,467 | 1,305 | — | 1,305 | — | 1,399 | |||||||||||||||||||
Consumer lines of credit | 1,803 | 1,796 | — | 1,796 | — | 1,793 | |||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||
$ | 81,765 | $ | 66,619 | $ | 2,831 | $ | 69,450 | $ | 1,179 | $ | 75,367 | ||||||||||||||
Interest income is generally no longer recognized once a loan becomes impaired. | |||||||||||||||||||||||||
These tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories: commercial real estate of $3,327; commercial and industrial of $712; direct installment of $1,477; residential mortgages of $1,193; indirect installment of $229; and consumer lines of credit of $314, totaling $7,252 at March 31, 2015 and commercial real estate of $3,286; commercial and industrial of $1,484; direct installment of $1,847; residential mortgages of $858; indirect installment of $232; and consumer lines of credit of $267, totaling $7,974 at December 31, 2014. | |||||||||||||||||||||||||
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 payment status of total TDRs: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Accruing: | |||||||||||||||||||||||||
Performing | $ | 12,793 | $ | 9,441 | |||||||||||||||||||||
Non-performing | 22,022 | 23,439 | |||||||||||||||||||||||
Non-accrual | 8,040 | 8,272 | |||||||||||||||||||||||
$ | 42,855 | $ | 41,152 | ||||||||||||||||||||||
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 three months ended March 31, 2015, the Corporation returned to performing status $3,975 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 may result in potential incremental losses which are factored into the allowance for credit 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 credit losses included specific reserves for commercial TDRs of $646 and $371 at March 31, 2015 and December 31, 2014, respectively, and pooled reserves for individual loans under $500 of $1,203 and $1,215 for those same respective periods, based on loan segment loss given default. 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 credit 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 credit losses included pooled reserves for these classes of loans of $4,146 and $3,448 at March 31, 2015 and December 31, 2014, 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: | |||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
Commercial real estate | 2 | $ | 312 | $ | 196 | 1 | $ | 188 | $ | 188 | |||||||||||||||
Commercial and industrial | — | — | — | 1 | 52 | 50 | |||||||||||||||||||
Total commercial loans | 2 | 312 | 196 | 2 | 240 | 238 | |||||||||||||||||||
Direct installment | 131 | 1,526 | 1,484 | 126 | 1,678 | 1,647 | |||||||||||||||||||
Residential mortgages | 14 | 581 | 631 | 9 | 281 | 280 | |||||||||||||||||||
Indirect installment | 5 | 16 | 16 | 7 | 17 | 16 | |||||||||||||||||||
Consumer lines of credit | 16 | 270 | 270 | 7 | 255 | 255 | |||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||
168 | $ | 2,705 | $ | 2,597 | 151 | $ | 2,471 | $ | 2,436 | ||||||||||||||||
Following is a summary of TDRs, by class of loans and leases, 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 | Three Months Ended | ||||||||||||||||||||||||
March 31, 2015 (1) | March 31, 2014 (1) | ||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||
Direct installment | 37 | $ | 105 | 18 | $ | 171 | |||||||||||||||||||
Residential mortgages | 2 | 102 | — | — | |||||||||||||||||||||
Indirect installment | 3 | 4 | 1 | — | |||||||||||||||||||||
Consumer lines of credit | 1 | 92 | — | — | |||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||
43 | $ | 303 | 19 | $ | 171 | ||||||||||||||||||||
-1 | The recorded investment is as of period end. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Allowance for Credit Losses | ALLOWANCE FOR CREDIT LOSSES | ||||||||||||||||||||||||
The allowance for credit losses is established as losses are estimated to have occurred through a provision charged to earnings. Losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for credit losses. Allowances for impaired commercial loans over $500 are generally determined based on collateral values or the present value of estimated cash flows. All other impaired loans and leases are evaluated in the aggregate based on loan segment loss given default. Changes in the allowance for credit losses related to impaired loans and leases are charged or credited to the provision for credit losses. | |||||||||||||||||||||||||
The allowance for credit losses is maintained at a level that, in management’s judgment, is believed adequate to absorb probable losses associated with specifically identified loans and leases, as well as estimated probable credit losses inherent in the remainder of the portfolio. Adequacy of the allowance for credit losses is based on management’s evaluation of potential losses in the 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 portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the portfolio. Determination of the allowance for credit losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans and leases, estimated losses on pools of homogeneous loans and leases based on transition matrices with predefined loss emergence periods and consideration of qualitative factors, 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 credit losses. | |||||||||||||||||||||||||
Following is a summary of changes in the allowance for credit losses, by loan and lease class: | |||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provision | Balance at | ||||||||||||||||||||
Beginning | Offs | Charge- | for credit | End of | |||||||||||||||||||||
of Period | Offs | losses | Period | ||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 37,588 | $ | (1,001 | ) | $ | 209 | $ | (792 | ) | $ | 1,996 | $ | 38,792 | |||||||||||
Commercial and industrial | 32,645 | (684 | ) | 120 | (564 | ) | 722 | 32,803 | |||||||||||||||||
Commercial leases | 2,398 | (93 | ) | 10 | (83 | ) | 261 | 2,576 | |||||||||||||||||
Total commercial loans and leases | 72,631 | (1,778 | ) | 339 | (1,439 | ) | 2,979 | 74,171 | |||||||||||||||||
Direct installment | 20,538 | (2,433 | ) | 269 | (2,164 | ) | 2,830 | 21,204 | |||||||||||||||||
Residential mortgages | 8,024 | (511 | ) | 15 | (496 | ) | 943 | 8,471 | |||||||||||||||||
Indirect installment | 7,504 | (1,280 | ) | 302 | (978 | ) | 1,131 | 7,657 | |||||||||||||||||
Consumer lines of credit | 8,496 | (410 | ) | 40 | (370 | ) | 764 | 8,890 | |||||||||||||||||
Other | 759 | (335 | ) | 11 | (324 | ) | 419 | 854 | |||||||||||||||||
Total allowance on originated loans and leases | 117,952 | (6,747 | ) | 976 | (5,771 | ) | 9,066 | 121,247 | |||||||||||||||||
Purchased credit-impaired loans | 660 | (64 | ) | 19 | (45 | ) | 6 | 621 | |||||||||||||||||
Other acquired loans | 7,314 | (77 | ) | 330 | 253 | (936 | ) | 6,631 | |||||||||||||||||
Total allowance on acquired loans | 7,974 | (141 | ) | 349 | 208 | (930 | ) | 7,252 | |||||||||||||||||
Total allowance | $ | 125,926 | $ | (6,888 | ) | $ | 1,325 | $ | (5,563 | ) | $ | 8,136 | $ | 128,499 | |||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 32,548 | $ | (2,223 | ) | $ | 299 | $ | (1,924 | ) | $ | 7,910 | $ | 38,534 | |||||||||||
Commercial and industrial | 32,603 | (513 | ) | 370 | (143 | ) | (2,489 | ) | 29,971 | ||||||||||||||||
Commercial leases | 1,903 | (87 | ) | 29 | (58 | ) | 99 | 1,944 | |||||||||||||||||
Total commercial loans and leases | 67,054 | (2,823 | ) | 698 | (2,125 | ) | 5,520 | 70,449 | |||||||||||||||||
Direct installment | 17,824 | (2,521 | ) | 267 | (2,254 | ) | 1,060 | 16,630 | |||||||||||||||||
Residential mortgages | 5,836 | (132 | ) | 4 | (128 | ) | (401 | ) | 5,307 | ||||||||||||||||
Indirect installment | 6,409 | (802 | ) | 217 | (585 | ) | 676 | 6,500 | |||||||||||||||||
Consumer lines of credit | 7,231 | (323 | ) | 55 | (268 | ) | 695 | 7,658 | |||||||||||||||||
Other | 530 | (262 | ) | 5 | (257 | ) | 306 | 579 | |||||||||||||||||
Total allowance on originated loans and leases | 104,884 | (6,863 | ) | 1,246 | (5,617 | ) | 7,856 | 107,123 | |||||||||||||||||
Purchased credit-impaired loans | 1,000 | (249 | ) | — | (249 | ) | (43 | ) | 708 | ||||||||||||||||
Other acquired loans | 4,900 | 9 | 286 | 295 | (807 | ) | 4,388 | ||||||||||||||||||
Total allowance on acquired loans | 5,900 | (240 | ) | 286 | 46 | (850 | ) | 5,096 | |||||||||||||||||
Total allowance | $ | 110,784 | $ | (7,103 | ) | $ | 1,532 | $ | (5,571 | ) | $ | 7,006 | $ | 112,219 | |||||||||||
Following is a summary of the individual and collective originated allowance for credit losses and corresponding loan and lease balances by class: | |||||||||||||||||||||||||
Allowance | Loans and Leases Outstanding | ||||||||||||||||||||||||
Individually | Collectively | Loans and | Individually | Collectively | |||||||||||||||||||||
Evaluated for | Evaluated for | Leases | Evaluated for | Evaluated for | |||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 735 | $ | 38,057 | $ | 3,082,385 | $ | 12,865 | $ | 3,069,520 | |||||||||||||||
Commercial and industrial | 1,446 | 31,357 | 2,281,075 | 5,711 | 2,275,364 | ||||||||||||||||||||
Commercial leases | — | 2,576 | 180,207 | — | 180,207 | ||||||||||||||||||||
Total commercial loans and leases | 2,181 | 71,990 | 5,543,667 | 18,576 | 5,525,091 | ||||||||||||||||||||
Direct installment | — | 21,204 | 1,594,846 | — | 1,594,846 | ||||||||||||||||||||
Residential mortgages | — | 8,471 | 877,437 | — | 877,437 | ||||||||||||||||||||
Indirect installment | — | 7,657 | 903,780 | — | 903,780 | ||||||||||||||||||||
Consumer lines of credit | — | 8,890 | 953,569 | — | 953,569 | ||||||||||||||||||||
Other | — | 854 | 42,632 | — | 42,632 | ||||||||||||||||||||
$ | 2,181 | $ | 119,066 | $ | 9,915,931 | $ | 18,576 | $ | 9,897,355 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 399 | $ | 37,189 | $ | 3,031,810 | $ | 13,952 | $ | 3,017,858 | |||||||||||||||
Commercial and industrial | 780 | 31,865 | 2,197,793 | 5,837 | 2,191,956 | ||||||||||||||||||||
Commercial leases | — | 2,398 | 177,824 | — | 177,824 | ||||||||||||||||||||
Total commercial loans and leases | 1,179 | 71,452 | 5,407,427 | 19,789 | 5,387,638 | ||||||||||||||||||||
Direct installment | — | 20,538 | 1,579,770 | — | 1,579,770 | ||||||||||||||||||||
Residential mortgages | — | 8,024 | 817,586 | — | 817,586 | ||||||||||||||||||||
Indirect installment | — | 7,504 | 873,645 | — | 873,645 | ||||||||||||||||||||
Consumer lines of credit | — | 8,496 | 946,427 | — | 946,427 | ||||||||||||||||||||
Other | — | 759 | 41,290 | — | 41,290 | ||||||||||||||||||||
$ | 1,179 | $ | 116,773 | $ | 9,666,145 | $ | 19,789 | $ | 9,646,356 | ||||||||||||||||
Borrowings
Borrowings | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||
Borrowings | BORROWINGS | ||||||||||||||||||||||
Following is a summary of short-term borrowings: | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||
Securities sold under repurchase agreements | $ | 757,279 | $ | 882,696 | |||||||||||||||||||
Federal Home Loan Bank advances | 500,000 | 820,000 | |||||||||||||||||||||
Federal funds purchased | 355,000 | 210,000 | |||||||||||||||||||||
Subordinated notes | 128,221 | 128,962 | |||||||||||||||||||||
$ | 1,740,500 | $ | 2,041,658 | ||||||||||||||||||||
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 borrowings: | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||
Federal Home Loan Bank advances | $ | 400,018 | $ | 400,042 | |||||||||||||||||||
Subordinated notes | 83,197 | 83,155 | |||||||||||||||||||||
Junior subordinated debt | 58,259 | 58,246 | |||||||||||||||||||||
$ | 541,474 | $ | 541,443 | ||||||||||||||||||||
The Corporation’s banking affiliate has available credit with the FHLB of $4,213,966 of which $900,018 was used as of March 31, 2015. 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 2021. Effective interest rates paid on the long-term advances ranged from 0.76% to 4.19% for both the three months ended March 31, 2015 and the year ended December 31, 2014. | |||||||||||||||||||||||
The Corporation had two unconsolidated subsidiary trusts as of March 31, 2015 (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. Under recently issued capital guidelines, effective January 1, 2015, the portion of the subordinated debt, net of the Corporation’s investments in the Trusts, that qualifies as tier 1 capital is limited to 25% of the total $57,500 outstanding at March 31, 2015, with the remaining 75% moving to tier 2 capital. In 2016, the entire balance of the subordinated debt will be included in tier 2 capital. 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. | |||||||||||||||||||||||
The following table provides information relating to the Trusts as of March 31, 2015: | |||||||||||||||||||||||
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 | 1.92 | % | Variable; LIBOR + 165 basis points (bps) | |||||||||||||
Omega Financial Capital Trust I | 36,000 | 1,114 | 36,094 | 10/18/34 | 2.44 | % | Variable; LIBOR + 219 bps | ||||||||||||||||
$ | 57,500 | $ | 1,779 | $ | 58,259 | ||||||||||||||||||
Derivative_And_Hedging_Activit
Derivative And Hedging Activities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||
Derivative And Hedging Activities | DERIVATIVE AND HEDGING ACTIVITIES | ||||||||||||||||||||||||
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. Derivative instruments are used to reduce the effects that changes in interest rates may have on net income and cash flows. The Corporation also uses derivative instruments to facilitate transactions on behalf of its customers. | |||||||||||||||||||||||||
All derivatives are carried on the consolidated balance sheet at fair value and do not take into account the effects of master netting arrangements the Corporation has with other financial institutions. Credit risk is included in the determination of the estimated fair value of derivatives. Derivative assets are classified in the consolidated balance sheet under other assets and derivative liabilities are classified in the consolidated balance sheet under other liabilities. Changes in fair value are recognized in earnings except for certain changes related to derivative instruments designated as part of a cash flow hedging relationship. | |||||||||||||||||||||||||
The following table presents notional amounts and gross fair values of all derivative assets and derivative liabilities held by the Corporation: | |||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||||||||||
Amount | Asset | Liability | Amount | Asset | Liability | ||||||||||||||||||||
Gross Derivatives | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – designated | $ | 200,000 | $ | 3,937 | $ | 669 | $ | 200,000 | $ | 2,109 | $ | 2,330 | |||||||||||||
Interest rate swaps – not designated | 1,020,957 | 6 | 53,718 | 972,002 | 140 | 43,655 | |||||||||||||||||||
Equity contracts – not designated | 1,210 | 39 | — | 1,210 | 47 | — | |||||||||||||||||||
Total subject to master netting arrangements | 1,222,167 | 3,982 | 54,387 | 1,173,212 | 2,296 | 45,985 | |||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate swaps – not designated | 1,020,957 | 53,569 | 5 | 972,002 | 43,602 | 128 | |||||||||||||||||||
Credit risk contracts – not designated | 76,416 | — | — | 68,632 | — | — | |||||||||||||||||||
Equity contracts – not designated | 1,210 | — | 39 | 1,210 | — | 47 | |||||||||||||||||||
Total not subject to master netting arrangements | 1,098,583 | 53,569 | 44 | 1,041,844 | 43,602 | 175 | |||||||||||||||||||
$ | 2,320,750 | $ | 57,551 | $ | 54,431 | $ | 2,215,056 | $ | 45,898 | $ | 46,160 | ||||||||||||||
Derivatives Designated as Hedging Instruments under GAAP | |||||||||||||||||||||||||
Interest Rate Contracts. The Corporation entered into interest rate derivative agreements to modify the interest rate characteristics of designated commercial loans from variable rate to fixed rate in order to reduce the impact of changes in future cash flows due to market 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. | |||||||||||||||||||||||||
At March 31, 2015 and December 31, 2014, the notional amount of these interest rate derivative agreements totaled $200,000. Fair values included in other assets and other liabilities on the consolidated balance sheet applicable to these agreements amounted to $3,937 and $669, respectively, at March 31, 2015, and $2,109 and $2,330, respectively, at December 31, 2014. For the three months ended March 31, 2015, the amount reclassified from accumulated other comprehensive income (AOCI) to interest income on loans and leases totaled $810 ($526 net of tax). | |||||||||||||||||||||||||
As of March 31, 2015, the maximum length of time over which forecasted interest cash flows are hedged is nine years. In the twelve months that follow March 31, 2015, the Corporation expects to reclassify from the amount currently reported in AOCI net derivative gains of $2,929 ($1,904 net of tax), in association with interest received on the hedged loans. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to March 31, 2015. | |||||||||||||||||||||||||
There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to these cash flow hedges. For the three months ended March 31, 2015 and 2014, there was no hedge ineffectiveness. Also, during the three months ended March 31, 2015 and 2014, there were no gains or losses from cash flow hedge derivatives reclassified to earnings because it became probable that the original forecasted transactions would not occur. | |||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments under GAAP | |||||||||||||||||||||||||
Interest Rate Swaps. 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 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. Swap derivative transactions with customers are not subject to enforceable master netting arrangements and are generally secured by rights to non-financial collateral, such as real and personal property. | |||||||||||||||||||||||||
The Corporation enters into positions with a derivative counterparty in order to offset its exposure on the fixed components of the customer interest rate swap agreements. The Corporation seeks to minimize counterparty credit risk by entering into transactions with only high-quality financial dealer institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815, Derivatives and Hedging. Substantially all contracts with dealers that require central clearing (generally, transactions since June 10, 2014) are novated to a SEC registered clearing agency who becomes the Corporation’s counterparty. | |||||||||||||||||||||||||
The notional amount of these customer derivative agreements and the offsetting derivative counterparty positions each totaled $1,020,957 at March 31, 2015. Fair values included in other assets and other liabilities on the consolidated balance sheet applicable to these agreements amounted to $53,575 and $53,723, respectively, at March 31, 2015. At December 31, 2014, the notional amount of these customer derivative agreements and the offsetting derivative counterparty positions each totaled $972,002. At December 31, 2014, fair values included in other assets and other liabilities on the consolidated balance sheet amounted to $43,742 and $43,783, respectively. | |||||||||||||||||||||||||
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. | |||||||||||||||||||||||||
Credit Risk Contracts. The Corporation purchases and sells credit protection under risk participation agreements to share with other counterparties some of the credit exposure related to interest rate derivative contracts or to take on credit exposure to generate revenue. The Corporation will make/receive payments under these agreements if a customer defaults on its obligation to perform under certain derivative swap contracts. | |||||||||||||||||||||||||
Risk participation agreements sold with notional amounts totaling $50,061 have remaining terms ranging from two to nine years. Under these agreements, the Corporation’s maximum exposure assuming a customer defaults on its obligation to perform under certain derivative swap contracts with third parties would be $70 at March 31, 2015 and $21 at December 31, 2014. | |||||||||||||||||||||||||
The fair values of risk participation agreements purchased and sold were not material at March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||
Counterparty Credit Risk | |||||||||||||||||||||||||
The Corporation is party to master netting arrangements with most of its swap derivative counterparties. Collateral, usually marketable securities and/or cash, is exchanged between the Corporation and its counterparties, and is generally subject to thresholds and transfer minimums. For swap transactions that require central clearing, the Corporation posts cash to its clearing agency. Collateral positions are valued daily, and adjustments to amounts received and pledged by the Corporation are made as appropriate to maintain proper collateralization for these transactions. | |||||||||||||||||||||||||
Certain master netting agreements contain provisions that, if violated, could cause the counterparties to request immediate settlement or demand full collateralization under the derivative instrument. 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 $2,071 and $1,862 as of March 31, 2015 and December 31, 2014, respectively, in excess of amounts previously posted as collateral with the respective counterparty. | |||||||||||||||||||||||||
The following table presents information about derivative assets and derivative liabilities that are subject to enforceable master netting arrangements 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 | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 3,937 | — | $ | 3,937 | ||||||||||||||||||||
Not designated | 6 | — | 6 | ||||||||||||||||||||||
Equity contracts – not designated | 39 | — | 39 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 53,569 | — | 53,569 | ||||||||||||||||||||||
$ | 57,551 | — | $ | 57,551 | |||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 669 | — | $ | 669 | ||||||||||||||||||||
Not designated | 53,718 | — | 53,718 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 5 | — | 5 | ||||||||||||||||||||||
Equity contracts – not designated | 39 | — | 39 | ||||||||||||||||||||||
$ | 54,431 | — | $ | 54,431 | |||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 2,109 | — | $ | 2,109 | ||||||||||||||||||||
Not designated | 140 | — | 140 | ||||||||||||||||||||||
Equity contracts – not designated | 47 | — | 47 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 43,602 | — | 43,602 | ||||||||||||||||||||||
$ | 45,898 | — | $ | 45,898 | |||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 2,330 | — | $ | 2,330 | ||||||||||||||||||||
Not designated | 43,655 | — | 43,655 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 128 | — | 128 | ||||||||||||||||||||||
Equity contracts – not designated | 47 | — | 47 | ||||||||||||||||||||||
$ | 46,160 | — | $ | 46,160 | |||||||||||||||||||||
The following table presents 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: | |||||||||||||||||||||||||
Net Amount | Amount Not Offset in the | ||||||||||||||||||||||||
Presented in | Balance Sheet | ||||||||||||||||||||||||
the Balance | Financial | Cash | Net | ||||||||||||||||||||||
Sheet | Instruments | Collateral | Amount | ||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 3,937 | $ | 1,902 | $ | 2,035 | — | ||||||||||||||||||
Not designated | 6 | 6 | — | — | |||||||||||||||||||||
Equity contracts – not designated | 39 | 39 | — | — | |||||||||||||||||||||
$ | 3,982 | $ | 1,947 | $ | 2,035 | — | |||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 669 | $ | 669 | $ | — | $ | — | |||||||||||||||||
Not designated | 53,718 | 30,626 | 21,346 | 1,746 | |||||||||||||||||||||
$ | 54,387 | $ | 31,295 | $ | 21,346 | $ | 1,746 | ||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 2,109 | $ | 810 | $ | 1,299 | — | ||||||||||||||||||
Not designated | 140 | 138 | 2 | — | |||||||||||||||||||||
Equity contracts – not designated | 47 | 47 | — | — | |||||||||||||||||||||
$ | 2,296 | $ | 995 | $ | 1,301 | — | |||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 2,330 | $ | 2,330 | $ | — | $ | — | |||||||||||||||||
Not designated | 43,655 | 28,646 | 13,243 | 1,766 | |||||||||||||||||||||
$ | 45,985 | $ | 30,976 | $ | 13,243 | $ | 1,766 | ||||||||||||||||||
The following table presents the effect of the Corporation’s derivative financial instruments on the income statement: | |||||||||||||||||||||||||
Income | Three Months Ended | ||||||||||||||||||||||||
Statement | March 31, | ||||||||||||||||||||||||
Location | 2015 | 2014 | |||||||||||||||||||||||
Interest Rate Products | Other income | $ | (107 | ) | $ | (14 | ) | ||||||||||||||||||
Other | |||||||||||||||||||||||||
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 March 31, 2015 and December 31, 2014 are not material. |
Commitments_Credit_Risk_and_Co
Commitments, Credit Risk and Contingencies | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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 and leases 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: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Commitments to extend credit | $ | 3,969,614 | $ | 3,665,481 | |||||
Standby letters of credit | 109,355 | 121,186 | |||||||
At March 31, 2015, funding of 68.2% 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. | |||||||||
Other Legal Proceedings | |||||||||
The Corporation and its subsidiaries are involved in various pending 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, agent, acquiror 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. |
Stock_Incentive_Plans
Stock Incentive Plans | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based 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). The Corporation issues time-based awards and performance-based awards under these Plans, 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 fair value of the performance-based awards is based on a Monte-Carlo Simulation valuation of the Corporation’s common stock as of the grant date. | |||||||||||||||||
The Corporation did not issue any restricted stock awards during the three months ended March 31, 2015 or 2014. For performance-based restricted stock awards granted since 2014, the amount of shares recipients will earn is variable based on the Corporation’s total stockholder return relative to a specified peer group of financial institutions over the three-year period. These market-based restricted stock units are included in the table below as if the recipients earned shares equal to 100% of the units issued. As of March 31, 2015, the Corporation had available up to 2,122,522 shares of common stock to issue under the 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 and 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 $340 and $532 for the three months ended March 31, 2015 and 2014, the tax benefit of which was $119 and $186, respectively. | |||||||||||||||||
The following table summarizes certain information concerning restricted stock awards: | |||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Awards | Weighted | Awards | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Unvested awards outstanding at beginning of period | 1,354,093 | $ | 11.86 | 1,729,033 | $ | 10.23 | |||||||||||
Net adjustment due to performance | (46,956 | ) | 10.25 | (19,002 | ) | 8.48 | |||||||||||
Vested | (458,450 | ) | 10.6 | (667,956 | ) | 9.01 | |||||||||||
Forfeited | (2,357 | ) | 17.93 | (430 | ) | 10.69 | |||||||||||
Dividend reinvestment | 7,656 | 14.24 | 9,612 | 13.01 | |||||||||||||
Unvested awards outstanding at end of period | 853,986 | 12.63 | 1,051,257 | 11.06 | |||||||||||||
The total fair value of awards vested was $5,740 and $8,631 for the three months ended March 31, 2015 and 2014, respectively. | |||||||||||||||||
As of March 31, 2015, there was $4,509 of unrecognized compensation cost related to unvested restricted stock awards, including $20 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 March 31, 2015 are as follows: | |||||||||||||||||
Service- | Performance- | Total | |||||||||||||||
Based | Based | ||||||||||||||||
Awards | Awards | ||||||||||||||||
Unvested awards | 397,593 | 456,393 | 853,986 | ||||||||||||||
Unrecognized compensation expense | $ | 2,659 | $ | 1,850 | $ | 4,509 | |||||||||||
Intrinsic value | $ | 5,224 | $ | 5,997 | $ | 11,221 | |||||||||||
Weighted average remaining life (in years) | 1.91 | 1.73 | 1.81 | ||||||||||||||
Stock Options | |||||||||||||||||
All outstanding stock options were assumed from acquisitions and are fully vested. Upon consummation of the Corporation’s acquisitions, all outstanding stock options issued by the acquired companies were converted into equivalent Corporation stock options. 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 60,094 and 59,217 for the three months ended March 31, 2015 and 2014, respectively. | |||||||||||||||||
The following table summarizes certain information concerning stock option awards: | |||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Exercise | Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||
Options outstanding at beginning of period | 568,834 | $ | 8.86 | 533,524 | $ | 11.5 | |||||||||||
Assumed from acquisition | — | — | 304,785 | 5.77 | |||||||||||||
Exercised | (60,094 | ) | 5.04 | (87,332 | ) | 6.05 | |||||||||||
Forfeited | (2,182 | ) | 4.34 | (48,172 | ) | 25.79 | |||||||||||
Options outstanding and exercisable at end of period | 506,558 | 9.33 | 702,805 | 8.71 | |||||||||||||
The intrinsic value of outstanding and exercisable stock options at March 31, 2015 was $1,890. | |||||||||||||||||
Warrants | |||||||||||||||||
In conjunction with its participation in the U.S. Department of the Treasury’s (UST) Capital Purchase Program (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 Annapolis Bancorp, Inc. (ANNB) acquisition on April 6, 2013, 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 at an exercise price of $3.57 per share. Subsequent adjustments related to actual dividends paid by the Corporation have increased the share amount of these warrants to 367,916, with a resulting lower exercise price of $3.32 per share as of March 31, 2015. The warrant, which was recorded at its fair value on April 6, 2013, expires in 2019. |
Retirement_Plans
Retirement Plans | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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. 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 is 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 | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Service cost | $ | 17 | $ | 16 | |||||
Interest cost | 1,477 | 1,596 | |||||||
Expected return on plan assets | (2,491 | ) | (2,487 | ) | |||||
Amortization: | |||||||||
Unrecognized net transition asset | — | (5 | ) | ||||||
Unrecognized prior service cost | 2 | 2 | |||||||
Unrecognized loss | 536 | 337 | |||||||
Net periodic pension credit | $ | (459 | ) | $ | (541 | ) | |||
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 six percent that the employee defers. Additionally, the Corporation may provide a performance-based company contribution of up to three percent if the Corporation exceeds annual financial goals. Prior to January 1, 2015, the Corporation matched 100% of the first four percent that the employee deferred, provided an automatic contribution of three percent of compensation at the end of the year and could make an additional performance-based company contribution of up to two percent if the Corporation achieved its performance goals for the plan year. The Corporation’s contribution expense was $2,167 and $2,570 for the three months ended March 31, 2015 and 2014, 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 | 3 Months Ended |
Mar. 31, 2015 | |
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 evaluates 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 March 31, 2015, the Corporation anticipates that it will not utilize some of its state net operating loss carryforwards and other net deferred tax assets at certain of its subsidiaries and has recorded a valuation allowance against these deferred tax assets. The Corporation believes that, except for the portion which is covered by a 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 March 31, 2015, based on the levels of projected taxable income of some of its entities. |
Comprehensive_Income
Comprehensive Income | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Equity [Abstract] | |||||||||||||||||
Comprehensive Income | COMPREHENSIVE INCOME | ||||||||||||||||
The components of comprehensive income, net of related tax, are as follows: | |||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Net income | $ | 40,343 | $ | 34,524 | |||||||||||||
Other comprehensive income: | |||||||||||||||||
Securities available for sale: | |||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $4,523 and $9,016 | 8,400 | 16,742 | |||||||||||||||
Reclassification adjustment for losses (gains) included in net income, net of tax (benefit) expense of $(3) and $3,311 | 6 | (6,150 | ) | ||||||||||||||
Derivative instruments: | |||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $1,504 and $1,402 | 2,793 | 2,603 | |||||||||||||||
Reclassification adjustment for gains included in net income, net of tax expense of $283 and $285 | (526 | ) | (529 | ) | |||||||||||||
Pension and postretirement benefit obligations: | |||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $189 and $117 | 350 | 217 | |||||||||||||||
Other comprehensive income | 11,023 | 12,883 | |||||||||||||||
Comprehensive income | $ | 51,366 | $ | 47,407 | |||||||||||||
The amounts reclassified from AOCI related to securities available for sale are included in net securities (losses) gains on the Consolidated Statements of Comprehensive Income, while the amounts reclassified from AOCI related to derivative instruments are included in interest income on loans and leases on the Consolidated Statements of Comprehensive Income. | |||||||||||||||||
The tax (benefit) expense amounts reclassified from AOCI in connection with the securities available for sale and derivative instruments reclassifications are included in income tax provision on the Consolidated Statements of Comprehensive Income. | |||||||||||||||||
The following table presents changes in AOCI, net of tax, by component: | |||||||||||||||||
Unrealized | Unrealized | Unrecognized | Total | ||||||||||||||
Net Gains | Net Gains | Pension and | |||||||||||||||
(Losses) on | (Losses) on | Postretirement | |||||||||||||||
Securities | Derivative | Obligations | |||||||||||||||
Available | Instruments | ||||||||||||||||
for Sale | |||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||
Balance at beginning of period | $ | (440 | ) | $ | (143 | ) | $ | (45,420 | ) | $ | (46,003 | ) | |||||
Other comprehensive income before reclassifications | 8,400 | 2,793 | 350 | 11,543 | |||||||||||||
Amounts reclassified from AOCI | 6 | (526 | ) | — | (520 | ) | |||||||||||
Net current period other comprehensive income | 8,406 | 2,267 | 350 | 11,023 | |||||||||||||
Balance at end of period | $ | 7,966 | $ | 2,124 | $ | (45,070 | ) | $ | (34,980 | ) | |||||||
Earnings_Per_Common_Share
Earnings Per Common Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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 | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Net income | $ | 40,343 | $ | 34,524 | |||||
Less: Preferred stock dividends | 2,010 | 2,322 | |||||||
Net income available to common stockholders | $ | 38,333 | $ | 32,202 | |||||
Basic weighted average common shares outstanding | 174,152,283 | 162,186,395 | |||||||
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,673,693 | 1,780,851 | |||||||
Diluted weighted average common shares outstanding | 175,825,976 | 163,967,246 | |||||||
Earnings per common share: | |||||||||
Basic | $ | 0.22 | $ | 0.2 | |||||
Diluted | $ | 0.22 | $ | 0.2 | |||||
For the three months ended March 31, 2015 and 2014, 24,272 and 51,641 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 | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||
Cash Flow Information | CASH FLOW INFORMATION | ||||||||
Following is a summary of supplemental cash flow information: | |||||||||
Three Months Ended March 31 | 2015 | 2014 | |||||||
Interest paid on deposits and other borrowings | $ | 11,626 | $ | 10,576 | |||||
Income taxes paid | — | — | |||||||
Transfers of loans to other real estate owned | 1,965 | 4,849 | |||||||
Financing of other real estate owned sold | 166 | — |
Business_Segments
Business Segments | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
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 and | Consolidated | ||||||||||||||||||||
Banking | Management | Finance | Other | ||||||||||||||||||||||
At or for the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Interest income | $ | 122,118 | $ | — | $ | 23 | $ | 9,593 | $ | 1,635 | $ | 133,369 | |||||||||||||
Interest expense | 9,941 | — | — | 860 | 647 | 11,448 | |||||||||||||||||||
Net interest income | 112,177 | — | 23 | 8,733 | 988 | 121,921 | |||||||||||||||||||
Provision for credit losses | 6,327 | — | — | 1,574 | 235 | 8,136 | |||||||||||||||||||
Non-interest income | 27,301 | 8,387 | 3,593 | 676 | (1,775 | ) | 38,182 | ||||||||||||||||||
Non-interest expense | 77,079 | 6,493 | 4,170 | 4,808 | (10 | ) | 92,540 | ||||||||||||||||||
Intangible amortization | 1,947 | 68 | 100 | — | — | 2,115 | |||||||||||||||||||
Income tax expense (benefit) | 15,931 | 658 | (226 | ) | 1,149 | (543 | ) | 16,969 | |||||||||||||||||
Net income (loss) | 38,194 | 1,168 | (428 | ) | 1,878 | (469 | ) | 40,343 | |||||||||||||||||
Total assets | 16,100,851 | 21,125 | 18,464 | 182,662 | (44,254 | ) | 16,278,848 | ||||||||||||||||||
Total intangibles | 852,764 | 10,652 | 10,021 | 1,809 | — | 875,246 | |||||||||||||||||||
At or for the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
Interest income | $ | 106,691 | $ | — | $ | 25 | $ | 9,365 | $ | 1,799 | $ | 117,880 | |||||||||||||
Interest expense | 8,248 | — | — | 846 | 961 | 10,055 | |||||||||||||||||||
Net interest income | 98,443 | — | 25 | 8,519 | 838 | 107,825 | |||||||||||||||||||
Provision for credit losses | 5,296 | — | — | 1,457 | 253 | 7,006 | |||||||||||||||||||
Non-interest income | 31,913 | 7,323 | 4,210 | 660 | (2,036 | ) | 42,070 | ||||||||||||||||||
Non-interest expense | 76,866 | 6,292 | 3,046 | 4,937 | 742 | 91,883 | |||||||||||||||||||
Intangible amortization | 2,110 | 72 | 101 | — | — | 2,283 | |||||||||||||||||||
Income tax expense (benefit) | 13,343 | 351 | 385 | 1,073 | (953 | ) | 14,199 | ||||||||||||||||||
Net income (loss) | 32,741 | 608 | 703 | 1,712 | (1,240 | ) | 34,524 | ||||||||||||||||||
Total assets | 14,299,543 | 19,542 | 19,954 | 182,018 | (44,547 | ) | 14,476,510 | ||||||||||||||||||
Total intangibles | 833,642 | 10,936 | 10,425 | 1,809 | — | 856,812 |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
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 March 31, 2015, 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 was measured using model-based techniques, with primarily unobservable (Level 3) inputs. | |||||||||||||||||||||
The Corporation closely monitors market conditions involving assets that have become less actively traded. If the fair value measurement is based upon recent observable market activity of such assets or comparable assets (other than forced or distressed transactions) that occur in sufficient volume, and do not require significant adjustment using unobservable inputs, those assets are classified as Level 1 or Level 2; if not, they are classified as Level 3. Making this assessment requires significant judgment. | |||||||||||||||||||||
The Corporation uses prices from independent pricing services and, to a lesser extent, indicative (non-binding) quotes from independent brokers, to measure the fair value of investment securities. The Corporation validates prices received from pricing services or brokers using a variety of methods, including, but not limited to, comparison to secondary pricing services, corroboration of pricing by reference to other independent market data such as secondary broker quotes and relevant benchmark indices, and review of pricing information 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 March 31, 2015, the Corporation has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Corporation has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. | |||||||||||||||||||||
Residential Mortgage Loans Held For Sale | |||||||||||||||||||||
These loans are carried at the lower of cost or fair value. Under lower of cost or fair value accounting, periodically, it may be necessary to record non-recurring fair value adjustments. Fair value, when recorded, is based on independent quoted market prices and is classified as Level 2. | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||
The Corporation reserves for commercial loan relationships greater than or equal to $500 that the Corporation considers impaired as defined in ASC 310 at the time the Corporation identifies the loan as impaired based upon the present value of expected future cash flows available to pay the loan, or based upon the fair value of the collateral less estimated selling costs where a loan is collateral dependent. Collateral may be real estate and/or business assets including equipment, inventory and accounts receivable. | |||||||||||||||||||||
The Corporation determines the fair value of real estate based on appraisals by licensed or certified appraisers. The value of business assets is generally based on amounts reported on the business’ financial statements. Management must rely on the financial statements prepared and certified by the borrower or its accountants in determining the value of these business assets on an ongoing basis, which may be subject to significant change over time. Based on the quality of information or statements provided, management may require the use of business asset appraisals and site-inspections to better value these assets. The Corporation may discount appraised and reported values based on management’s historical knowledge, changes in market conditions from the time of valuation or management’s knowledge of the borrower and the borrower’s business. Since not all valuation inputs are observable, the Corporation classifies these non-recurring fair value determinations as Level 2 or Level 3 based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||
The Corporation reviews and evaluates impaired loans no less frequently than quarterly for additional impairment based on the same factors identified above. | |||||||||||||||||||||
Other Real Estate Owned | |||||||||||||||||||||
OREO is comprised of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations plus some bank owned real estate. OREO acquired in settlement of indebtedness is recorded at the lower of carrying amount of the loan or fair value less costs to sell. Subsequently, these assets are carried at the lower of carrying value or fair value less costs to sell. Accordingly, it may be necessary to record non-recurring fair value adjustments. Fair value is generally based upon appraisals by licensed or certified appraisers and other market information and is classified as Level 2 or Level 3. | |||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Assets Measured at Fair Value | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury | $ | — | $ | 29,937 | $ | — | $ | 29,937 | |||||||||||||
U.S. government-sponsored entities | — | 390,660 | — | 390,660 | |||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||
Agency mortgage-backed securities | — | 505,561 | — | 505,561 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 572,017 | — | 572,017 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 10 | 1,354 | 1,364 | |||||||||||||||||
Commercial mortgage-backed securities | — | 6,843 | — | 6,843 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 13,175 | — | 13,175 | |||||||||||||||||
Other debt securities | — | 16,231 | — | 16,231 | |||||||||||||||||
— | 1,534,434 | 1,354 | 1,535,788 | ||||||||||||||||||
Available for sale equity securities: | |||||||||||||||||||||
Financial services industry | 91 | 645 | 435 | 1,171 | |||||||||||||||||
Insurance services industry | 121 | — | — | 121 | |||||||||||||||||
212 | 645 | 435 | 1,292 | ||||||||||||||||||
212 | 1,535,079 | 1,789 | 1,537,080 | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | 53,614 | — | 53,614 | |||||||||||||||||
Not for trading | — | 3,937 | — | 3,937 | |||||||||||||||||
— | 57,551 | — | 57,551 | ||||||||||||||||||
$ | 212 | $ | 1,592,630 | $ | 1,789 | $ | 1,594,631 | ||||||||||||||
Liabilities Measured at Fair Value | |||||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | $ | 53,762 | — | $ | 53,762 | |||||||||||||||
Not for trading | — | 669 | — | 669 | |||||||||||||||||
— | $ | 54,431 | — | $ | 54,431 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Assets Measured at Fair Value | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury | $ | — | $ | 29,682 | $ | — | $ | 29,682 | |||||||||||||
U.S. government-sponsored entities | — | 337,133 | — | 337,133 | |||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||
Agency mortgage-backed securities | — | 554,085 | — | 554,085 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 573,171 | — | 573,171 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 11 | 1,420 | 1,431 | |||||||||||||||||
Commercial mortgage-backed securities | — | 7,880 | — | 7,880 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 13,158 | — | 13,158 | |||||||||||||||||
Other debt securities | — | 16,178 | — | 16,178 | |||||||||||||||||
— | 1,531,298 | 1,420 | 1,532,718 | ||||||||||||||||||
Available for sale equity securities: | |||||||||||||||||||||
Financial services industry | 99 | 654 | 475 | 1,228 | |||||||||||||||||
Insurance services industry | 119 | — | — | 119 | |||||||||||||||||
218 | 654 | 475 | 1,347 | ||||||||||||||||||
218 | 1,531,952 | 1,895 | 1,534,065 | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | 43,789 | — | 43,789 | |||||||||||||||||
Not for trading | — | 2,109 | — | 2,109 | |||||||||||||||||
— | 45,898 | — | 45,898 | ||||||||||||||||||
$ | 218 | $ | 1,577,850 | $ | 1,895 | $ | 1,579,963 | ||||||||||||||
Liabilities Measured at Fair Value | |||||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | $ | 43,830 | — | $ | 43,830 | |||||||||||||||
Not for trading | — | 2,330 | — | 2,330 | |||||||||||||||||
— | $ | 46,160 | — | $ | 46,160 | ||||||||||||||||
There were no transfers of assets or liabilities between the hierarchy levels for 2015 or 2014. | |||||||||||||||||||||
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 | Equity | Residential | Total | ||||||||||||||||||
Preferred | Securities | Non-Agency | |||||||||||||||||||
Collateralized | Collateralized | ||||||||||||||||||||
Debt | Mortgage | ||||||||||||||||||||
Obligations | Obligations | ||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Balance at beginning of period | — | $ | 475 | $ | 1,420 | $ | 1,895 | ||||||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | — | — | — | — | |||||||||||||||||
Included in other comprehensive income | — | (40 | ) | (12 | ) | (52 | ) | ||||||||||||||
Accretion included in earnings | — | — | 1 | 1 | |||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | |||||||||||||||||
Issuances | — | — | — | — | |||||||||||||||||
Sales/redemptions | — | — | — | — | |||||||||||||||||
Settlements | — | — | (55 | ) | (55 | ) | |||||||||||||||
Transfers from Level 3 | — | — | — | — | |||||||||||||||||
Transfers into Level 3 | — | — | — | — | |||||||||||||||||
Balance at end of period | — | $ | 435 | $ | 1,354 | $ | 1,789 | ||||||||||||||
Year Ended December 31, 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 | 65 | 3 | 5,676 | |||||||||||||||||
Accretion included in earnings | 657 | — | 5 | 662 | |||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | |||||||||||||||||
Issuances | — | — | — | — | |||||||||||||||||
Sales/redemptions | (51,527 | ) | — | — | (51,527 | ) | |||||||||||||||
Settlements | (99 | ) | — | (332 | ) | (431 | ) | ||||||||||||||
Transfers from Level 3 | — | — | — | — | |||||||||||||||||
Transfers into Level 3 | — | — | — | — | |||||||||||||||||
Balance at end of period | $ | — | $ | 475 | $ | 1,420 | $ | 1,895 | |||||||||||||
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 three months ended March 31, 2015 and 2014, 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 (losses) gains included in earnings are in the net securities (losses) 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 | ||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Impaired loans | — | $ | 190 | $ | 693 | $ | 883 | ||||||||||||||
Other real estate owned | — | 977 | 1,433 | 2,410 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Impaired loans | — | 177 | 1,528 | 1,705 | |||||||||||||||||
Other real estate owned | — | 5,695 | 2,365 | 8,060 | |||||||||||||||||
Impaired loans measured or re-measured at fair value on a non-recurring basis during the three months ended March 31, 2015 had a carrying amount of $2,940 and an allocated allowance for credit losses of $2,181. The allocated allowance is based on fair value of $883 less estimated costs to sell of $124. The allowance for credit losses includes a provision applicable to the current period fair value measurements of $1,002, which was included in the provision for credit losses for the three months ended March 31, 2015. | |||||||||||||||||||||
OREO with a carrying amount of $2,501 was written down to $2,140 (fair value of $2,410 less estimated costs to sell of $270), resulting in a loss of $361, which was included in earnings for the three months ended March 31, 2015. | |||||||||||||||||||||
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 and Leases. The fair value of fixed rate loans and leases is estimated by discounting the future cash flows using the current rates at which similar loans and leases 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 and leases approximates the carrying amount. Due to the significant judgment involved in evaluating credit quality, loans and leases are classified within Level 3 of the fair value hierarchy. | |||||||||||||||||||||
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 March 31, 2015, 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 Borrowings. The fair value of long-term borrowings is estimated by discounting future cash flows based on the market prices for the same or similar issues or on the current rates offered to the Corporation for debt of the same remaining maturities. | |||||||||||||||||||||
Loan Commitments and Standby Letters of Credit. Estimates of the fair value of these off-balance sheet items were not made because of the short-term nature of these arrangements and the credit standing of the counterparties. Also, unfunded loan commitments relate principally to variable rate commercial loans, typically are non-binding, and fees are not normally assessed on these balances. | |||||||||||||||||||||
Nature of Estimates. Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise. Management believes that fair value estimates may not be comparable to other financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made. Further, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different. | |||||||||||||||||||||
The fair values of the Corporation’s financial instruments are as follows: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | |||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 234,246 | $ | 234,246 | $ | 234,246 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,537,080 | 1,537,080 | 212 | 1,535,079 | 1,789 | ||||||||||||||||
Securities held to maturity | 1,513,204 | 1,536,449 | — | 1,532,588 | 3,861 | ||||||||||||||||
Net loans and leases, including loans held for sale | 11,280,221 | 11,119,711 | — | — | 11,119,711 | ||||||||||||||||
Derivative assets | 57,551 | 57,551 | — | 57,551 | — | ||||||||||||||||
Accrued interest receivable | 41,935 | 41,935 | 41,935 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 11,806,043 | 11,812,401 | 9,217,159 | 2,595,242 | — | ||||||||||||||||
Short-term borrowings | 1,740,500 | 1,740,499 | 1,740,499 | — | — | ||||||||||||||||
Long-term borrowings | 541,474 | 541,955 | — | — | 541,955 | ||||||||||||||||
Derivative liabilities | 54,431 | 54,431 | — | 54,431 | — | ||||||||||||||||
Accrued interest payable | 6,511 | 6,511 | 6,511 | — | — | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 287,393 | $ | 287,393 | $ | 287,393 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,534,065 | 1,534,065 | 218 | 1,531,952 | 1,895 | ||||||||||||||||
Securities held to maturity | 1,453,355 | 1,468,258 | — | 1,463,945 | 4,313 | ||||||||||||||||
Net loans and leases, including loans held for sale | 11,127,292 | 10,956,544 | — | — | 10,956,544 | ||||||||||||||||
Derivative assets | 45,898 | 45,898 | — | 45,898 | — | ||||||||||||||||
Accrued interest receivable | 40,231 | 40,231 | 40,231 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 11,382,208 | 11,382,402 | 8,771,173 | 2,611,229 | — | ||||||||||||||||
Short-term borrowings | 2,041,658 | 2,041,672 | 2,041,672 | — | — | ||||||||||||||||
Long-term borrowings | 541,443 | 539,007 | — | — | 539,007 | ||||||||||||||||
Derivative liabilities | 46,160 | 46,160 | — | 46,160 | — | ||||||||||||||||
Accrued interest payable | 6,689 | 6,689 | 6,689 | — | — |
New_Accounting_Standards_Polic
New Accounting Standards (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Cloud Computing Arrangements | Cloud Computing Arrangements |
In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-05, Intangibles-Goodwill and Other-Internal-Use Software. ASU 2015-05 provides guidance to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement environment. The amendments in this Update provide a basis for evaluating whether a cloud computing arrangement includes a software license to internal-use software, and how to account for the software license element of the arrangement. This update supersedes the existing requirement to analogize to operating lease guidance in accounting for some software licenses. The requirements of ASU 2015-05 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply ASU 2015-05 either prospectively or retrospectively. The Corporation is evaluating this new guidance and has not yet determined which approach it will adopt to apply the amendments in ASU 2015-05 or the impact that the adoption of this update will have on its financial statements. | |
Consolidation | Consolidation |
In February 2015, the FASB issued ASU No. 2015-02, Consolidation. ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. This update modifies the evaluation of whether limited partnerships or similar legal entities are variable interest entities (VIEs) or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The requirements of ASU 2015-02 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply ASU 2015-02 either retrospectively or by using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. 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 Statement | Income Statement |
In January 2015, the FASB issued ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items. The FASB issued ASU 2015-01 as part of its Simplification Initiative to reduce complexity in accounting standards. ASU 2015-01 eliminates from GAAP the concept of extraordinary items. The requirements of ASU 2015-01 are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply ASU 2015-01 prospectively, or retrospectively to all prior periods presented in the financial statements. The adoption of this update will not have an effect on the financial statements, results of operations or liquidity of the Corporation, as the Corporation has not reported extraordinary items. |
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 29,637 | $ | 300 | $ | — | $ | 29,937 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 388,363 | 2,818 | (521 | ) | 390,660 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 494,497 | 11,064 | — | 505,561 | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 573,738 | 3,646 | (5,367 | ) | 572,017 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,359 | 5 | — | 1,364 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 6,844 | — | (1 | ) | 6,843 | ||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 12,713 | 476 | (14 | ) | 13,175 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,643 | 373 | (785 | ) | 16,231 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,523,794 | 18,682 | (6,688 | ) | 1,535,788 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 261 | — | 1,292 | |||||||||||||||||||||||||||||||||
$ | 1,524,825 | $ | 18,943 | $ | (6,688 | ) | $ | 1,537,080 | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 29,604 | $ | 78 | $ | — | $ | 29,682 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 338,330 | 742 | (1,939 | ) | 337,133 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 546,572 | 7,548 | (35 | ) | 554,085 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 580,601 | 1,617 | (9,047 | ) | 573,171 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,414 | 17 | — | 1,431 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 7,891 | — | (11 | ) | 7,880 | ||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 12,713 | 477 | (32 | ) | 13,158 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,615 | 420 | (857 | ) | 16,178 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,533,740 | 10,899 | (11,921 | ) | 1,532,718 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 316 | — | 1,347 | |||||||||||||||||||||||||||||||||
$ | 1,534,771 | $ | 11,215 | $ | (11,921 | ) | $ | 1,534,065 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 29,637 | $ | 300 | $ | — | $ | 29,937 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 388,363 | 2,818 | (521 | ) | 390,660 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 494,497 | 11,064 | — | 505,561 | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 573,738 | 3,646 | (5,367 | ) | 572,017 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,359 | 5 | — | 1,364 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 6,844 | — | (1 | ) | 6,843 | ||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 12,713 | 476 | (14 | ) | 13,175 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,643 | 373 | (785 | ) | 16,231 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,523,794 | 18,682 | (6,688 | ) | 1,535,788 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 261 | — | 1,292 | |||||||||||||||||||||||||||||||||
$ | 1,524,825 | $ | 18,943 | $ | (6,688 | ) | $ | 1,537,080 | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 29,604 | $ | 78 | $ | — | $ | 29,682 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 338,330 | 742 | (1,939 | ) | 337,133 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 546,572 | 7,548 | (35 | ) | 554,085 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 580,601 | 1,617 | (9,047 | ) | 573,171 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,414 | 17 | — | 1,431 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 7,891 | — | (11 | ) | 7,880 | ||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 12,713 | 477 | (32 | ) | 13,158 | ||||||||||||||||||||||||||||||||
Other debt securities | 16,615 | 420 | (857 | ) | 16,178 | ||||||||||||||||||||||||||||||||
Total debt securities | 1,533,740 | 10,899 | (11,921 | ) | 1,532,718 | ||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 316 | — | 1,347 | |||||||||||||||||||||||||||||||||
$ | 1,534,771 | $ | 11,215 | $ | (11,921 | ) | $ | 1,534,065 | |||||||||||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 500 | $ | 182 | $ | — | $ | 682 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 146,578 | 1,731 | (149 | ) | 148,160 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 674,101 | 19,130 | (20 | ) | 693,211 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 505,859 | 3,633 | (4,884 | ) | 504,608 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 3,840 | 21 | — | 3,861 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 17,484 | 385 | — | 17,869 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 164,842 | 3,372 | (156 | ) | 168,058 | ||||||||||||||||||||||||||||||||
$ | 1,513,204 | $ | 28,454 | $ | (5,209 | ) | $ | 1,536,449 | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 502 | $ | 168 | $ | — | $ | 670 | |||||||||||||||||||||||||||||
U.S. government-sponsored entities | 101,602 | 885 | (524 | ) | 101,963 | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 677,169 | 16,712 | (346 | ) | 693,535 | ||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 501,965 | 1,858 | (7,329 | ) | 496,494 | ||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 4,285 | 28 | — | 4,313 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 17,560 | 179 | — | 17,739 | |||||||||||||||||||||||||||||||||
States of the U.S. and political subdivisions | 150,272 | 3,315 | (43 | ) | 153,544 | ||||||||||||||||||||||||||||||||
$ | 1,453,355 | $ | 23,145 | $ | (8,242 | ) | $ | 1,468,258 | |||||||||||||||||||||||||||||
Gross Gains and Gross Losses Realized on Sales of Securities | Gross gains and gross losses were realized on securities as follows: | ||||||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||||||
Gross gains | $ | — | $ | 18,009 | |||||||||||||||||||||||||||||||||
Gross losses | (9 | ) | (8,548 | ) | |||||||||||||||||||||||||||||||||
$ | (9 | ) | $ | 9,461 | |||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of March 31, 2015, 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 | $ | 4,985 | $ | 5,069 | $ | 1,282 | $ | 1,285 | |||||||||||||||||||||||||||||
Due from one to five years | 423,890 | 426,811 | 138,269 | 139,139 | |||||||||||||||||||||||||||||||||
Due from five to ten years | 11,591 | 12,018 | 72,457 | 74,672 | |||||||||||||||||||||||||||||||||
Due after ten years | 6,890 | 6,105 | 99,912 | 101,804 | |||||||||||||||||||||||||||||||||
447,356 | 450,003 | 311,920 | 316,900 | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 494,497 | 505,561 | 674,101 | 693,211 | |||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 573,738 | 572,017 | 505,859 | 504,608 | |||||||||||||||||||||||||||||||||
Non-agency collateralized mortgage obligations | 1,359 | 1,364 | 3,840 | 3,861 | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | 6,844 | 6,843 | 17,484 | 17,869 | |||||||||||||||||||||||||||||||||
Equity securities | 1,031 | 1,292 | — | — | |||||||||||||||||||||||||||||||||
$ | 1,524,825 | $ | 1,537,080 | $ | 1,513,204 | $ | 1,536,449 | ||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 3 | $ | 59,857 | $ | (142 | ) | 5 | $ | 55,612 | $ | (379 | ) | 8 | $ | 115,469 | $ | (521 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 4 | 61,998 | (199 | ) | 17 | 242,124 | (5,168 | ) | 21 | 304,122 | (5,367 | ) | |||||||||||||||||||||||||
Commercial mortgage-backed securities | 1 | 6,843 | (1 | ) | — | — | — | 1 | 6,843 | (1 | ) | ||||||||||||||||||||||||||
States of the U.S. and political subdivisions | — | — | — | 1 | 1,177 | (14 | ) | 1 | 1,177 | (14 | ) | ||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 6,105 | (785 | ) | 4 | 6,105 | (785 | ) | ||||||||||||||||||||||||||
8 | $ | 128,698 | $ | (342 | ) | 27 | $ | 305,018 | $ | (6,346 | ) | 35 | $ | 433,716 | $ | (6,688 | ) | ||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 7 | $ | 89,986 | $ | (275 | ) | 7 | $ | 99,326 | $ | (1,664 | ) | 14 | $ | 189,312 | $ | (1,939 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 2 | 45,145 | (35 | ) | — | — | — | 2 | 45,145 | (35 | ) | ||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 9 | 166,908 | (1,238 | ) | 16 | 225,700 | (7,809 | ) | 25 | 392,608 | (9,047 | ) | |||||||||||||||||||||||||
Commercial mortgage-backed securities | 1 | 7,880 | (11 | ) | — | — | — | 1 | 7,880 | (11 | ) | ||||||||||||||||||||||||||
States of the U.S. and political subdivisions | — | — | — | 1 | 1,159 | (32 | ) | 1 | 1,159 | (32 | ) | ||||||||||||||||||||||||||
Other debt securities | — | — | — | 4 | 6,030 | (857 | ) | 4 | 6,030 | (857 | ) | ||||||||||||||||||||||||||
19 | $ | 309,919 | $ | (1,559 | ) | 28 | $ | 332,215 | $ | (10,362 | ) | 47 | $ | 642,134 | $ | (11,921 | ) | ||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 1 | $ | 14,970 | $ | (30 | ) | 1 | $ | 14,881 | $ | (119 | ) | 2 | $ | 29,851 | $ | (149 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | — | — | — | 1 | 1,234 | (20 | ) | 1 | 1,234 | (20 | ) | ||||||||||||||||||||||||||
Agency collateralized mortgage obligations | 4 | 69,926 | (402 | ) | 14 | 185,466 | (4,482 | ) | 18 | 255,392 | (4,884 | ) | |||||||||||||||||||||||||
States of the U.S. and political subdivisions | 8 | 13,418 | (156 | ) | — | — | — | 8 | 13,418 | (156 | ) | ||||||||||||||||||||||||||
13 | $ | 98,314 | $ | (588 | ) | 16 | $ | 201,581 | $ | (4,621 | ) | 29 | $ | 299,895 | $ | (5,209 | ) | ||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||
U.S. government-sponsored entities | 2 | $ | 24,989 | $ | (40 | ) | 2 | $ | 29,516 | $ | (484 | ) | 4 | $ | 54,505 | $ | (524 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency mortgage-backed securities | 1 | 1,099 | (1 | ) | 4 | 45,042 | (345 | ) | 5 | 46,141 | (346 | ) | |||||||||||||||||||||||||
Agency collateralized mortgage obligations | 8 | 104,071 | (630 | ) | 14 | 189,642 | (6,699 | ) | 22 | 293,713 | (7,329 | ) | |||||||||||||||||||||||||
States of the U.S. and political subdivisions | 1 | 1,427 | (4 | ) | 4 | 5,453 | (39 | ) | 5 | 6,880 | (43 | ) | |||||||||||||||||||||||||
12 | $ | 131,586 | $ | (675 | ) | 24 | $ | 269,653 | $ | (7,567 | ) | 36 | $ | 401,239 | $ | (8,242 | ) | ||||||||||||||||||||
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 | Equities | Total | |||||||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||||||||
Obligations | |||||||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||||||||||
Beginning balance | — | $ | 27 | $ | 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 | $ | 27 | ||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 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 | |||||||||||||||||||||||||||||||
Loans_and_Leases_Tables
Loans and Leases (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Summary of Loans and Leases, Net of Unearned Income | Following is a summary of loans and leases, net of unearned income: | ||||||||||||||||||||||||
Originated | Acquired | Total | |||||||||||||||||||||||
Loans | Loans | Loans and | |||||||||||||||||||||||
Leases | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 3,082,385 | $ | 734,804 | $ | 3,817,189 | |||||||||||||||||||
Commercial and industrial | 2,281,075 | 116,656 | 2,397,731 | ||||||||||||||||||||||
Commercial leases | 180,207 | — | 180,207 | ||||||||||||||||||||||
Total commercial loans and leases | 5,543,667 | 851,460 | 6,395,127 | ||||||||||||||||||||||
Direct installment | 1,594,846 | 58,775 | 1,653,621 | ||||||||||||||||||||||
Residential mortgages | 877,437 | 421,660 | 1,299,097 | ||||||||||||||||||||||
Indirect installment | 903,780 | 1,424 | 905,204 | ||||||||||||||||||||||
Consumer lines of credit | 953,569 | 154,849 | 1,108,418 | ||||||||||||||||||||||
Other | 42,632 | — | 42,632 | ||||||||||||||||||||||
$ | 9,915,931 | $ | 1,488,168 | $ | 11,404,099 | ||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 3,031,810 | $ | 783,898 | $ | 3,815,708 | |||||||||||||||||||
Commercial and industrial | 2,197,793 | 120,222 | 2,318,015 | ||||||||||||||||||||||
Commercial leases | 177,824 | — | 177,824 | ||||||||||||||||||||||
Total commercial loans and leases | 5,407,427 | 904,120 | 6,311,547 | ||||||||||||||||||||||
Direct installment | 1,579,770 | 64,851 | 1,644,621 | ||||||||||||||||||||||
Residential mortgages | 817,586 | 445,467 | 1,263,053 | ||||||||||||||||||||||
Indirect installment | 873,645 | 1,906 | 875,551 | ||||||||||||||||||||||
Consumer lines of credit | 946,427 | 164,549 | 1,110,976 | ||||||||||||||||||||||
Other | 41,290 | — | 41,290 | ||||||||||||||||||||||
$ | 9,666,145 | $ | 1,580,893 | $ | 11,247,038 | ||||||||||||||||||||
Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans | The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows: | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Accounted for under ASC 310-30: | |||||||||||||||||||||||||
Outstanding balance | $ | 1,513,616 | $ | 1,597,558 | |||||||||||||||||||||
Carrying amount | 1,259,995 | 1,344,171 | |||||||||||||||||||||||
Accounted for under ASC 310-20: | |||||||||||||||||||||||||
Outstanding balance | 232,524 | 242,488 | |||||||||||||||||||||||
Carrying amount | 220,921 | 228,748 | |||||||||||||||||||||||
Total acquired loans: | |||||||||||||||||||||||||
Outstanding balance | 1,746,140 | 1,840,046 | |||||||||||||||||||||||
Carrying amount | 1,480,916 | 1,572,919 | |||||||||||||||||||||||
Summary of Change in Accretable Yield of Acquired Loans | The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-30. Loans accounted for under ASC 310-20 are not included in this table. | ||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Balance at beginning of period | $ | 331,899 | $ | 305,646 | |||||||||||||||||||||
Reduction due to unexpected early payoffs | (11,909 | ) | (12,694 | ) | |||||||||||||||||||||
Reclass from non-accretable difference | 7,676 | 768 | |||||||||||||||||||||||
Disposals/transfers | (118 | ) | (944 | ) | |||||||||||||||||||||
Accretion | (16,264 | ) | (15,913 | ) | |||||||||||||||||||||
Balance at end of period | $ | 311,284 | $ | 276,863 | |||||||||||||||||||||
Summary of Non-Performing Assets | Following is a summary of non-performing assets: | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Non-accrual loans | $ | 45,029 | $ | 45,113 | |||||||||||||||||||||
Troubled debt restructurings | 22,022 | 23,439 | |||||||||||||||||||||||
Total non-performing loans | 67,051 | 68,552 | |||||||||||||||||||||||
Other real estate owned (OREO) | 40,796 | 41,466 | |||||||||||||||||||||||
Total non-performing assets | $ | 107,847 | $ | 110,018 | |||||||||||||||||||||
Asset quality ratios: | |||||||||||||||||||||||||
Non-performing loans as a percent of total loans and leases | 0.59 | % | 0.61 | % | |||||||||||||||||||||
Non-performing loans + OREO as a percent of total loans and leases + OREO | 0.94 | % | 0.97 | % | |||||||||||||||||||||
Non-performing assets as a percent of total assets | 0.66 | % | 0.68 | % | |||||||||||||||||||||
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 and leases originated and loans acquired: | ||||||||||||||||||||||||
30-89 Days | > 90 Days | Non-Accrual | Total | Current | Total | ||||||||||||||||||||
Past Due | Past Due and | Past Due | Loans and | ||||||||||||||||||||||
Still Accruing | Leases | ||||||||||||||||||||||||
Originated Loans and Leases | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 6,655 | $ | 130 | $ | 23,653 | $ | 30,438 | $ | 3,051,947 | $ | 3,082,385 | |||||||||||||
Commercial and industrial | 2,939 | 3 | 8,846 | 11,788 | 2,269,287 | 2,281,075 | |||||||||||||||||||
Commercial leases | 1,097 | — | 732 | 1,829 | 178,378 | 180,207 | |||||||||||||||||||
Total commercial loans and leases | 10,691 | 133 | 33,231 | 44,055 | 5,499,612 | 5,543,667 | |||||||||||||||||||
Direct installment | 8,748 | 3,575 | 6,464 | 18,787 | 1,576,059 | 1,594,846 | |||||||||||||||||||
Residential mortgages | 7,040 | 1,731 | 3,625 | 12,396 | 865,041 | 877,437 | |||||||||||||||||||
Indirect installment | 5,015 | 409 | 1,111 | 6,535 | 897,245 | 903,780 | |||||||||||||||||||
Consumer lines of credit | 2,501 | 656 | 598 | 3,755 | 949,814 | 953,569 | |||||||||||||||||||
Other | 47 | 39 | — | 86 | 42,546 | 42,632 | |||||||||||||||||||
$ | 34,042 | $ | 6,543 | $ | 45,029 | $ | 85,614 | $ | 9,830,317 | $ | 9,915,931 | ||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 9,601 | $ | 313 | $ | 24,132 | $ | 34,046 | $ | 2,997,764 | $ | 3,031,810 | |||||||||||||
Commercial and industrial | 2,446 | 3 | 8,310 | 10,759 | 2,187,034 | 2,197,793 | |||||||||||||||||||
Commercial leases | 961 | 43 | 722 | 1,726 | 176,098 | 177,824 | |||||||||||||||||||
Total commercial loans and leases | 13,008 | 359 | 33,164 | 46,531 | 5,360,896 | 5,407,427 | |||||||||||||||||||
Direct installment | 9,333 | 3,617 | 7,117 | 20,067 | 1,559,703 | 1,579,770 | |||||||||||||||||||
Residential mortgages | 8,709 | 3,891 | 2,964 | 15,564 | 802,022 | 817,586 | |||||||||||||||||||
Indirect installment | 7,804 | 684 | 1,149 | 9,637 | 864,008 | 873,645 | |||||||||||||||||||
Consumer lines of credit | 2,408 | 562 | 719 | 3,689 | 942,738 | 946,427 | |||||||||||||||||||
Other | 13 | 135 | — | 148 | 41,142 | 41,290 | |||||||||||||||||||
$ | 41,275 | $ | 9,248 | $ | 45,113 | $ | 95,636 | $ | 9,570,509 | $ | 9,666,145 | ||||||||||||||
30-89 | > 90 Days | Total | Current | Discount | Total | ||||||||||||||||||||
Days | Past Due | Past | Loans | ||||||||||||||||||||||
Past Due | and Still | Due (1) (2) | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Acquired Loans | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 8,813 | $ | 12,445 | $ | 21,258 | $ | 753,073 | $ | (39,527 | ) | $ | 734,804 | ||||||||||||
Commercial and industrial | 1,023 | 1,651 | 2,674 | 122,604 | (8,622 | ) | 116,656 | ||||||||||||||||||
Total commercial loans | 9,836 | 14,096 | 23,932 | 875,677 | (48,149 | ) | 851,460 | ||||||||||||||||||
Direct installment | 1,199 | 1,112 | 2,311 | 55,476 | 988 | 58,775 | |||||||||||||||||||
Residential mortgages | 7,695 | 18,535 | 26,230 | 434,061 | (38,631 | ) | 421,660 | ||||||||||||||||||
Indirect installment | 9 | 17 | 26 | 1,648 | (250 | ) | 1,424 | ||||||||||||||||||
Consumer lines of credit | 1,115 | 2,146 | 3,261 | 156,676 | (5,088 | ) | 154,849 | ||||||||||||||||||
$ | 19,854 | $ | 35,906 | $ | 55,760 | $ | 1,523,538 | $ | (91,130 | ) | $ | 1,488,168 | |||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 12,076 | $ | 12,368 | $ | 24,444 | $ | 799,991 | $ | (40,537 | ) | $ | 783,898 | ||||||||||||
Commercial and industrial | 687 | 1,968 | 2,655 | 127,535 | (9,968 | ) | 120,222 | ||||||||||||||||||
Total commercial loans | 12,763 | 14,336 | 27,099 | 927,526 | (50,505 | ) | 904,120 | ||||||||||||||||||
Direct installment | 2,670 | 1,443 | 4,113 | 59,532 | 1,206 | 64,851 | |||||||||||||||||||
Residential mortgages | 8,159 | 19,936 | 28,095 | 456,810 | (39,438 | ) | 445,467 | ||||||||||||||||||
Indirect installment | 38 | 30 | 68 | 2,179 | (341 | ) | 1,906 | ||||||||||||||||||
Consumer lines of credit | 1,048 | 2,279 | 3,327 | 166,912 | (5,690 | ) | 164,549 | ||||||||||||||||||
$ | 24,678 | $ | 38,024 | $ | 62,702 | $ | 1,612,959 | $ | (94,768 | ) | $ | 1,580,893 | |||||||||||||
-1 | Past due information for acquired loans is based on the contractual balance outstanding at March 31, 2015 and December 31, 2014. | ||||||||||||||||||||||||
-2 | Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion method. | ||||||||||||||||||||||||
Summary of Commercial Loans and Leases by Credit Quality | The following tables present a summary of the Corporation’s commercial loans and leases by credit quality category, segregated by loans and leases originated and loans acquired: | ||||||||||||||||||||||||
Commercial Loan and Lease Credit Quality Categories | |||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
Originated Loans and Leases | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 2,960,542 | $ | 52,926 | $ | 68,182 | $ | 735 | $ | 3,082,385 | |||||||||||||||
Commercial and industrial | 2,190,066 | 53,482 | 36,081 | 1,446 | 2,281,075 | ||||||||||||||||||||
Commercial leases | 177,091 | 2,222 | 894 | — | 180,207 | ||||||||||||||||||||
$ | 5,327,699 | $ | 108,630 | $ | 105,157 | $ | 2,181 | $ | 5,543,667 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 2,890,830 | $ | 58,630 | $ | 81,951 | $ | 399 | $ | 3,031,810 | |||||||||||||||
Commercial and industrial | 2,085,893 | 71,420 | 39,684 | 796 | 2,197,793 | ||||||||||||||||||||
Commercial leases | 174,677 | 2,198 | 949 | — | 177,824 | ||||||||||||||||||||
$ | 5,151,400 | $ | 132,248 | $ | 122,584 | $ | 1,195 | $ | 5,407,427 | ||||||||||||||||
Acquired Loans | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 579,462 | $ | 64,892 | $ | 90,450 | — | $ | 734,804 | ||||||||||||||||
Commercial and industrial | 102,974 | 2,411 | 11,271 | — | 116,656 | ||||||||||||||||||||
$ | 682,436 | $ | 67,303 | $ | 101,721 | — | $ | 851,460 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 610,260 | $ | 73,891 | $ | 99,747 | — | $ | 783,898 | ||||||||||||||||
Commercial and industrial | 103,862 | 3,506 | 12,854 | — | 120,222 | ||||||||||||||||||||
$ | 714,122 | $ | 77,397 | $ | 112,601 | — | $ | 904,120 | |||||||||||||||||
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-Performing | Total | |||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Direct installment | $ | 1,581,078 | $ | 13,768 | $ | 1,594,846 | |||||||||||||||||||
Residential mortgages | 862,965 | 14,472 | 877,437 | ||||||||||||||||||||||
Indirect installment | 902,515 | 1,265 | 903,780 | ||||||||||||||||||||||
Consumer lines of credit | 951,980 | 1,589 | 953,569 | ||||||||||||||||||||||
Other | 42,632 | — | 42,632 | ||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Direct installment | $ | 1,565,090 | $ | 14,680 | $ | 1,579,770 | |||||||||||||||||||
Residential mortgages | 802,522 | 15,064 | 817,586 | ||||||||||||||||||||||
Indirect installment | 872,340 | 1,305 | 873,645 | ||||||||||||||||||||||
Consumer lines of credit | 944,631 | 1,796 | 946,427 | ||||||||||||||||||||||
Other | 41,290 | — | 41,290 | ||||||||||||||||||||||
Summary of Impaired Loans and Leases, by Class | Following is a summary of information pertaining to originated loans and leases considered to be impaired, by class of loan and lease: | ||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Specific | Average | ||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Reserve | Recorded | ||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||
Balance | Specific | Specific | |||||||||||||||||||||||
Reserve | Reserve | ||||||||||||||||||||||||
At or for the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 34,483 | $ | 25,015 | $ | 1,012 | $ | 26,027 | $ | 735 | $ | 26,176 | |||||||||||||
Commercial and industrial | 11,251 | 8,138 | 1,928 | 10,066 | 1,446 | 9,811 | |||||||||||||||||||
Commercial leases | 732 | 732 | — | 732 | — | 727 | |||||||||||||||||||
Total commercial loans and leases | 46,466 | 33,885 | 2,940 | 36,825 | 2,181 | 36,714 | |||||||||||||||||||
Direct installment | 13,977 | 13,768 | — | 13,768 | — | 14,343 | |||||||||||||||||||
Residential mortgages | 15,718 | 14,472 | — | 14,472 | — | 15,547 | |||||||||||||||||||
Indirect installment | 1,425 | 1,265 | — | 1,265 | — | 1,363 | |||||||||||||||||||
Consumer lines of credit | 1,600 | 1,589 | — | 1,589 | — | 1,696 | |||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||
$ | 79,186 | $ | 64,979 | $ | 2,940 | $ | 67,919 | $ | 2,181 | $ | 69,663 | ||||||||||||||
At or for the Year Ended December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 34,583 | $ | 25,443 | $ | 883 | $ | 26,326 | $ | 399 | $ | 30,807 | |||||||||||||
Commercial and industrial | 11,412 | 7,609 | 1,948 | 9,557 | 780 | 9,510 | |||||||||||||||||||
Commercial leases | 722 | 722 | — | 722 | — | 686 | |||||||||||||||||||
Total commercial loans and leases | 46,717 | 33,774 | 2,831 | 36,605 | 1,179 | 41,003 | |||||||||||||||||||
Direct installment | 14,987 | 14,680 | — | 14,680 | — | 14,248 | |||||||||||||||||||
Residential mortgages | 16,791 | 15,064 | — | 15,064 | — | 16,924 | |||||||||||||||||||
Indirect installment | 1,467 | 1,305 | — | 1,305 | — | 1,399 | |||||||||||||||||||
Consumer lines of credit | 1,803 | 1,796 | — | 1,796 | — | 1,793 | |||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||
$ | 81,765 | $ | 66,619 | $ | 2,831 | $ | 69,450 | $ | 1,179 | $ | 75,367 | ||||||||||||||
Summary of Payment Status of Total TDRs | Following is a summary of the payment status of total TDRs: | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Accruing: | |||||||||||||||||||||||||
Performing | $ | 12,793 | $ | 9,441 | |||||||||||||||||||||
Non-performing | 22,022 | 23,439 | |||||||||||||||||||||||
Non-accrual | 8,040 | 8,272 | |||||||||||||||||||||||
$ | 42,855 | $ | 41,152 | ||||||||||||||||||||||
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: | ||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
Commercial real estate | 2 | $ | 312 | $ | 196 | 1 | $ | 188 | $ | 188 | |||||||||||||||
Commercial and industrial | — | — | — | 1 | 52 | 50 | |||||||||||||||||||
Total commercial loans | 2 | 312 | 196 | 2 | 240 | 238 | |||||||||||||||||||
Direct installment | 131 | 1,526 | 1,484 | 126 | 1,678 | 1,647 | |||||||||||||||||||
Residential mortgages | 14 | 581 | 631 | 9 | 281 | 280 | |||||||||||||||||||
Indirect installment | 5 | 16 | 16 | 7 | 17 | 16 | |||||||||||||||||||
Consumer lines of credit | 16 | 270 | 270 | 7 | 255 | 255 | |||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||
168 | $ | 2,705 | $ | 2,597 | 151 | $ | 2,471 | $ | 2,436 | ||||||||||||||||
Summary of Troubled Debt Restructurings by Class of Loans and Leases, Payment Default | Following is a summary of TDRs, by class of loans and leases, 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 | Three Months Ended | ||||||||||||||||||||||||
March 31, 2015 (1) | March 31, 2014 (1) | ||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||
Direct installment | 37 | $ | 105 | 18 | $ | 171 | |||||||||||||||||||
Residential mortgages | 2 | 102 | — | — | |||||||||||||||||||||
Indirect installment | 3 | 4 | 1 | — | |||||||||||||||||||||
Consumer lines of credit | 1 | 92 | — | — | |||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||
43 | $ | 303 | 19 | $ | 171 | ||||||||||||||||||||
-1 | The recorded investment is as of period end. |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Summary of Changes in Allowance for Credit Losses by Loan and Lease Class | Following is a summary of changes in the allowance for credit losses, by loan and lease class: | ||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provision | Balance at | ||||||||||||||||||||
Beginning | Offs | Charge- | for credit | End of | |||||||||||||||||||||
of Period | Offs | losses | Period | ||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 37,588 | $ | (1,001 | ) | $ | 209 | $ | (792 | ) | $ | 1,996 | $ | 38,792 | |||||||||||
Commercial and industrial | 32,645 | (684 | ) | 120 | (564 | ) | 722 | 32,803 | |||||||||||||||||
Commercial leases | 2,398 | (93 | ) | 10 | (83 | ) | 261 | 2,576 | |||||||||||||||||
Total commercial loans and leases | 72,631 | (1,778 | ) | 339 | (1,439 | ) | 2,979 | 74,171 | |||||||||||||||||
Direct installment | 20,538 | (2,433 | ) | 269 | (2,164 | ) | 2,830 | 21,204 | |||||||||||||||||
Residential mortgages | 8,024 | (511 | ) | 15 | (496 | ) | 943 | 8,471 | |||||||||||||||||
Indirect installment | 7,504 | (1,280 | ) | 302 | (978 | ) | 1,131 | 7,657 | |||||||||||||||||
Consumer lines of credit | 8,496 | (410 | ) | 40 | (370 | ) | 764 | 8,890 | |||||||||||||||||
Other | 759 | (335 | ) | 11 | (324 | ) | 419 | 854 | |||||||||||||||||
Total allowance on originated loans and leases | 117,952 | (6,747 | ) | 976 | (5,771 | ) | 9,066 | 121,247 | |||||||||||||||||
Purchased credit-impaired loans | 660 | (64 | ) | 19 | (45 | ) | 6 | 621 | |||||||||||||||||
Other acquired loans | 7,314 | (77 | ) | 330 | 253 | (936 | ) | 6,631 | |||||||||||||||||
Total allowance on acquired loans | 7,974 | (141 | ) | 349 | 208 | (930 | ) | 7,252 | |||||||||||||||||
Total allowance | $ | 125,926 | $ | (6,888 | ) | $ | 1,325 | $ | (5,563 | ) | $ | 8,136 | $ | 128,499 | |||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 32,548 | $ | (2,223 | ) | $ | 299 | $ | (1,924 | ) | $ | 7,910 | $ | 38,534 | |||||||||||
Commercial and industrial | 32,603 | (513 | ) | 370 | (143 | ) | (2,489 | ) | 29,971 | ||||||||||||||||
Commercial leases | 1,903 | (87 | ) | 29 | (58 | ) | 99 | 1,944 | |||||||||||||||||
Total commercial loans and leases | 67,054 | (2,823 | ) | 698 | (2,125 | ) | 5,520 | 70,449 | |||||||||||||||||
Direct installment | 17,824 | (2,521 | ) | 267 | (2,254 | ) | 1,060 | 16,630 | |||||||||||||||||
Residential mortgages | 5,836 | (132 | ) | 4 | (128 | ) | (401 | ) | 5,307 | ||||||||||||||||
Indirect installment | 6,409 | (802 | ) | 217 | (585 | ) | 676 | 6,500 | |||||||||||||||||
Consumer lines of credit | 7,231 | (323 | ) | 55 | (268 | ) | 695 | 7,658 | |||||||||||||||||
Other | 530 | (262 | ) | 5 | (257 | ) | 306 | 579 | |||||||||||||||||
Total allowance on originated loans and leases | 104,884 | (6,863 | ) | 1,246 | (5,617 | ) | 7,856 | 107,123 | |||||||||||||||||
Purchased credit-impaired loans | 1,000 | (249 | ) | — | (249 | ) | (43 | ) | 708 | ||||||||||||||||
Other acquired loans | 4,900 | 9 | 286 | 295 | (807 | ) | 4,388 | ||||||||||||||||||
Total allowance on acquired loans | 5,900 | (240 | ) | 286 | 46 | (850 | ) | 5,096 | |||||||||||||||||
Total allowance | $ | 110,784 | $ | (7,103 | ) | $ | 1,532 | $ | (5,571 | ) | $ | 7,006 | $ | 112,219 | |||||||||||
Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class | Following is a summary of the individual and collective originated allowance for credit losses and corresponding loan and lease balances by class: | ||||||||||||||||||||||||
Allowance | Loans and Leases Outstanding | ||||||||||||||||||||||||
Individually | Collectively | Loans and | Individually | Collectively | |||||||||||||||||||||
Evaluated for | Evaluated for | Leases | Evaluated for | Evaluated for | |||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Commercial real estate | $ | 735 | $ | 38,057 | $ | 3,082,385 | $ | 12,865 | $ | 3,069,520 | |||||||||||||||
Commercial and industrial | 1,446 | 31,357 | 2,281,075 | 5,711 | 2,275,364 | ||||||||||||||||||||
Commercial leases | — | 2,576 | 180,207 | — | 180,207 | ||||||||||||||||||||
Total commercial loans and leases | 2,181 | 71,990 | 5,543,667 | 18,576 | 5,525,091 | ||||||||||||||||||||
Direct installment | — | 21,204 | 1,594,846 | — | 1,594,846 | ||||||||||||||||||||
Residential mortgages | — | 8,471 | 877,437 | — | 877,437 | ||||||||||||||||||||
Indirect installment | — | 7,657 | 903,780 | — | 903,780 | ||||||||||||||||||||
Consumer lines of credit | — | 8,890 | 953,569 | — | 953,569 | ||||||||||||||||||||
Other | — | 854 | 42,632 | — | 42,632 | ||||||||||||||||||||
$ | 2,181 | $ | 119,066 | $ | 9,915,931 | $ | 18,576 | $ | 9,897,355 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 399 | $ | 37,189 | $ | 3,031,810 | $ | 13,952 | $ | 3,017,858 | |||||||||||||||
Commercial and industrial | 780 | 31,865 | 2,197,793 | 5,837 | 2,191,956 | ||||||||||||||||||||
Commercial leases | — | 2,398 | 177,824 | — | 177,824 | ||||||||||||||||||||
Total commercial loans and leases | 1,179 | 71,452 | 5,407,427 | 19,789 | 5,387,638 | ||||||||||||||||||||
Direct installment | — | 20,538 | 1,579,770 | — | 1,579,770 | ||||||||||||||||||||
Residential mortgages | — | 8,024 | 817,586 | — | 817,586 | ||||||||||||||||||||
Indirect installment | — | 7,504 | 873,645 | — | 873,645 | ||||||||||||||||||||
Consumer lines of credit | — | 8,496 | 946,427 | — | 946,427 | ||||||||||||||||||||
Other | — | 759 | 41,290 | — | 41,290 | ||||||||||||||||||||
$ | 1,179 | $ | 116,773 | $ | 9,666,145 | $ | 19,789 | $ | 9,646,356 | ||||||||||||||||
Borrowings_Tables
Borrowings (Tables) | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||
Summary of Short-Term Borrowings | Following is a summary of short-term borrowings: | ||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||
Securities sold under repurchase agreements | $ | 757,279 | $ | 882,696 | |||||||||||||||||||
Federal Home Loan Bank advances | 500,000 | 820,000 | |||||||||||||||||||||
Federal funds purchased | 355,000 | 210,000 | |||||||||||||||||||||
Subordinated notes | 128,221 | 128,962 | |||||||||||||||||||||
$ | 1,740,500 | $ | 2,041,658 | ||||||||||||||||||||
Summary of Long-Term Borrowings | Following is a summary of long-term borrowings: | ||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||
Federal Home Loan Bank advances | $ | 400,018 | $ | 400,042 | |||||||||||||||||||
Subordinated notes | 83,197 | 83,155 | |||||||||||||||||||||
Junior subordinated debt | 58,259 | 58,246 | |||||||||||||||||||||
$ | 541,474 | $ | 541,443 | ||||||||||||||||||||
Junior Subordinated Debt Trusts | The following table provides information relating to the Trusts as of March 31, 2015: | ||||||||||||||||||||||
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 | 1.92 | % | Variable; LIBOR + 165 basis points (bps) | |||||||||||||
Omega Financial Capital Trust I | 36,000 | 1,114 | 36,094 | 10/18/34 | 2.44 | % | Variable; LIBOR + 219 bps | ||||||||||||||||
$ | 57,500 | $ | 1,779 | $ | 58,259 | ||||||||||||||||||
Derivative_And_Hedging_Activit1
Derivative And Hedging Activities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities | The following table presents notional amounts and gross fair values of all derivative assets and derivative liabilities held by the Corporation: | ||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||||||||||
Amount | Asset | Liability | Amount | Asset | Liability | ||||||||||||||||||||
Gross Derivatives | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – designated | $ | 200,000 | $ | 3,937 | $ | 669 | $ | 200,000 | $ | 2,109 | $ | 2,330 | |||||||||||||
Interest rate swaps – not designated | 1,020,957 | 6 | 53,718 | 972,002 | 140 | 43,655 | |||||||||||||||||||
Equity contracts – not designated | 1,210 | 39 | — | 1,210 | 47 | — | |||||||||||||||||||
Total subject to master netting arrangements | 1,222,167 | 3,982 | 54,387 | 1,173,212 | 2,296 | 45,985 | |||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate swaps – not designated | 1,020,957 | 53,569 | 5 | 972,002 | 43,602 | 128 | |||||||||||||||||||
Credit risk contracts – not designated | 76,416 | — | — | 68,632 | — | — | |||||||||||||||||||
Equity contracts – not designated | 1,210 | — | 39 | 1,210 | — | 47 | |||||||||||||||||||
Total not subject to master netting arrangements | 1,098,583 | 53,569 | 44 | 1,041,844 | 43,602 | 175 | |||||||||||||||||||
$ | 2,320,750 | $ | 57,551 | $ | 54,431 | $ | 2,215,056 | $ | 45,898 | $ | 46,160 | ||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Gross | Gross | Net Amount | |||||||||||||||||||||||
Amount | Amounts | Presented in | |||||||||||||||||||||||
Offset in | the Balance | ||||||||||||||||||||||||
the Balance | Sheet | ||||||||||||||||||||||||
Sheet | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 3,937 | — | $ | 3,937 | ||||||||||||||||||||
Not designated | 6 | — | 6 | ||||||||||||||||||||||
Equity contracts – not designated | 39 | — | 39 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 53,569 | — | 53,569 | ||||||||||||||||||||||
$ | 57,551 | — | $ | 57,551 | |||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 2,109 | — | $ | 2,109 | ||||||||||||||||||||
Not designated | 140 | — | 140 | ||||||||||||||||||||||
Equity contracts – not designated | 47 | — | 47 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 43,602 | — | 43,602 | ||||||||||||||||||||||
$ | 45,898 | — | $ | 45,898 | |||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Gross | Gross | Net Amount | |||||||||||||||||||||||
Amount | Amounts | Presented in | |||||||||||||||||||||||
Offset in | the Balance | ||||||||||||||||||||||||
the Balance | Sheet | ||||||||||||||||||||||||
Sheet | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 669 | — | $ | 669 | ||||||||||||||||||||
Not designated | 53,718 | — | 53,718 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 5 | — | 5 | ||||||||||||||||||||||
Equity contracts – not designated | 39 | — | 39 | ||||||||||||||||||||||
$ | 54,431 | — | $ | 54,431 | |||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||
Designated | $ | 2,330 | — | $ | 2,330 | ||||||||||||||||||||
Not designated | 43,655 | — | 43,655 | ||||||||||||||||||||||
Not subject to master netting arrangements: | |||||||||||||||||||||||||
Interest rate contracts – not designated | 128 | — | 128 | ||||||||||||||||||||||
Equity contracts – not designated | 47 | — | 47 | ||||||||||||||||||||||
$ | 46,160 | — | $ | 46,160 | |||||||||||||||||||||
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 | Three Months Ended | ||||||||||||||||||||||||
Statement | March 31, | ||||||||||||||||||||||||
Location | 2015 | 2014 | |||||||||||||||||||||||
Interest Rate Products | Other income | $ | (107 | ) | $ | (14 | ) | ||||||||||||||||||
Collateral Held By Counterparty [Member] | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Amount Not Offset in the | |||||||||||||||||||||||||
Balance Sheet | |||||||||||||||||||||||||
Net Amount | Financial | Cash | Net | ||||||||||||||||||||||
Presented in | Instruments | Collateral | Amount | ||||||||||||||||||||||
the Balance | |||||||||||||||||||||||||
Sheet | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 3,937 | $ | 1,902 | $ | 2,035 | — | ||||||||||||||||||
Not designated | 6 | 6 | — | — | |||||||||||||||||||||
Equity contracts – not designated | 39 | 39 | — | — | |||||||||||||||||||||
$ | 3,982 | $ | 1,947 | $ | 2,035 | — | |||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 2,109 | $ | 810 | $ | 1,299 | — | ||||||||||||||||||
Not designated | 140 | 138 | 2 | — | |||||||||||||||||||||
Equity contracts – not designated | 47 | 47 | — | — | |||||||||||||||||||||
$ | 2,296 | $ | 995 | $ | 1,301 | — | |||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Amount Not Offset in the | |||||||||||||||||||||||||
Balance Sheet | |||||||||||||||||||||||||
Net Amount | Financial | Cash | Net | ||||||||||||||||||||||
Presented in | Instruments | Collateral | Amount | ||||||||||||||||||||||
the Balance | |||||||||||||||||||||||||
Sheet | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 669 | $ | 669 | $ | — | $ | — | |||||||||||||||||
Not designated | 53,718 | 30,626 | 21,346 | 1,746 | |||||||||||||||||||||
$ | 54,387 | $ | 31,295 | $ | 21,346 | $ | 1,746 | ||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Designated | $ | 2,330 | $ | 2,330 | $ | — | $ | — | |||||||||||||||||
Not designated | 43,655 | 28,646 | 13,243 | 1,766 | |||||||||||||||||||||
$ | 45,985 | $ | 30,976 | $ | 13,243 | $ | 1,766 | ||||||||||||||||||
Commitments_Credit_Risk_and_Co1
Commitments, Credit Risk and Contingencies (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Summary of Off-Balance Sheet Credit Risk Information | Following is a summary of off-balance sheet credit risk information: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Commitments to extend credit | $ | 3,969,614 | $ | 3,665,481 | |||||
Standby letters of credit | 109,355 | 121,186 |
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Summary of Information Concerning Restricted Stock Awards | The following table summarizes certain information concerning restricted stock awards: | ||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Awards | Weighted | Awards | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Unvested awards outstanding at beginning of period | 1,354,093 | $ | 11.86 | 1,729,033 | $ | 10.23 | |||||||||||
Net adjustment due to performance | (46,956 | ) | 10.25 | (19,002 | ) | 8.48 | |||||||||||
Vested | (458,450 | ) | 10.6 | (667,956 | ) | 9.01 | |||||||||||
Forfeited | (2,357 | ) | 17.93 | (430 | ) | 10.69 | |||||||||||
Dividend reinvestment | 7,656 | 14.24 | 9,612 | 13.01 | |||||||||||||
Unvested awards outstanding at end of period | 853,986 | 12.63 | 1,051,257 | 11.06 | |||||||||||||
Components of Restricted Stock Awards | Compensation. The components of the restricted stock awards as of March 31, 2015 are as follows: | ||||||||||||||||
Service- | Performance- | Total | |||||||||||||||
Based | Based | ||||||||||||||||
Awards | Awards | ||||||||||||||||
Unvested awards | 397,593 | 456,393 | 853,986 | ||||||||||||||
Unrecognized compensation expense | $ | 2,659 | $ | 1,850 | $ | 4,509 | |||||||||||
Intrinsic value | $ | 5,224 | $ | 5,997 | $ | 11,221 | |||||||||||
Weighted average remaining life (in years) | 1.91 | 1.73 | 1.81 | ||||||||||||||
Summary of Information Concerning Stock Option Awards | The following table summarizes certain information concerning stock option awards: | ||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Exercise | Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||
Options outstanding at beginning of period | 568,834 | $ | 8.86 | 533,524 | $ | 11.5 | |||||||||||
Assumed from acquisition | — | — | 304,785 | 5.77 | |||||||||||||
Exercised | (60,094 | ) | 5.04 | (87,332 | ) | 6.05 | |||||||||||
Forfeited | (2,182 | ) | 4.34 | (48,172 | ) | 25.79 | |||||||||||
Options outstanding and exercisable at end of period | 506,558 | 9.33 | 702,805 | 8.71 | |||||||||||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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 | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Service cost | $ | 17 | $ | 16 | |||||
Interest cost | 1,477 | 1,596 | |||||||
Expected return on plan assets | (2,491 | ) | (2,487 | ) | |||||
Amortization: | |||||||||
Unrecognized net transition asset | — | (5 | ) | ||||||
Unrecognized prior service cost | 2 | 2 | |||||||
Unrecognized loss | 536 | 337 | |||||||
Net periodic pension credit | $ | (459 | ) | $ | (541 | ) | |||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
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 | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Net income | $ | 40,343 | $ | 34,524 | |||||||||||||
Other comprehensive income: | |||||||||||||||||
Securities available for sale: | |||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $4,523 and $9,016 | 8,400 | 16,742 | |||||||||||||||
Reclassification adjustment for losses (gains) included in net income, net of tax (benefit) expense of $(3) and $3,311 | 6 | (6,150 | ) | ||||||||||||||
Derivative instruments: | |||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $1,504 and $1,402 | 2,793 | 2,603 | |||||||||||||||
Reclassification adjustment for gains included in net income, net of tax expense of $283 and $285 | (526 | ) | (529 | ) | |||||||||||||
Pension and postretirement benefit obligations: | |||||||||||||||||
Unrealized gains arising during the period, net of tax expense of $189 and $117 | 350 | 217 | |||||||||||||||
Other comprehensive income | 11,023 | 12,883 | |||||||||||||||
Comprehensive income | $ | 51,366 | $ | 47,407 | |||||||||||||
Changes in AOCI, Net of Tax, by Component | The following table presents changes in AOCI, net of tax, by component: | ||||||||||||||||
Unrealized | Unrealized | Unrecognized | Total | ||||||||||||||
Net Gains | Net Gains | Pension and | |||||||||||||||
(Losses) on | (Losses) on | Postretirement | |||||||||||||||
Securities | Derivative | Obligations | |||||||||||||||
Available | Instruments | ||||||||||||||||
for Sale | |||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||
Balance at beginning of period | $ | (440 | ) | $ | (143 | ) | $ | (45,420 | ) | $ | (46,003 | ) | |||||
Other comprehensive income before reclassifications | 8,400 | 2,793 | 350 | 11,543 | |||||||||||||
Amounts reclassified from AOCI | 6 | (526 | ) | — | (520 | ) | |||||||||||
Net current period other comprehensive income | 8,406 | 2,267 | 350 | 11,023 | |||||||||||||
Balance at end of period | $ | 7,966 | $ | 2,124 | $ | (45,070 | ) | $ | (34,980 | ) | |||||||
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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 | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Net income | $ | 40,343 | $ | 34,524 | |||||
Less: Preferred stock dividends | 2,010 | 2,322 | |||||||
Net income available to common stockholders | $ | 38,333 | $ | 32,202 | |||||
Basic weighted average common shares outstanding | 174,152,283 | 162,186,395 | |||||||
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,673,693 | 1,780,851 | |||||||
Diluted weighted average common shares outstanding | 175,825,976 | 163,967,246 | |||||||
Earnings per common share: | |||||||||
Basic | $ | 0.22 | $ | 0.2 | |||||
Diluted | $ | 0.22 | $ | 0.2 | |||||
Cash_Flow_Information_Tables
Cash Flow Information (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||
Summary of Supplemental Cash Flow Information | Following is a summary of supplemental cash flow information: | ||||||||
Three Months Ended March 31 | 2015 | 2014 | |||||||
Interest paid on deposits and other borrowings | $ | 11,626 | $ | 10,576 | |||||
Income taxes paid | — | — | |||||||
Transfers of loans to other real estate owned | 1,965 | 4,849 | |||||||
Financing of other real estate owned sold | 166 | — |
Business_Segments_Tables
Business Segments (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
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 and | Consolidated | ||||||||||||||||||||
Banking | Management | Finance | Other | ||||||||||||||||||||||
At or for the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Interest income | $ | 122,118 | $ | — | $ | 23 | $ | 9,593 | $ | 1,635 | $ | 133,369 | |||||||||||||
Interest expense | 9,941 | — | — | 860 | 647 | 11,448 | |||||||||||||||||||
Net interest income | 112,177 | — | 23 | 8,733 | 988 | 121,921 | |||||||||||||||||||
Provision for credit losses | 6,327 | — | — | 1,574 | 235 | 8,136 | |||||||||||||||||||
Non-interest income | 27,301 | 8,387 | 3,593 | 676 | (1,775 | ) | 38,182 | ||||||||||||||||||
Non-interest expense | 77,079 | 6,493 | 4,170 | 4,808 | (10 | ) | 92,540 | ||||||||||||||||||
Intangible amortization | 1,947 | 68 | 100 | — | — | 2,115 | |||||||||||||||||||
Income tax expense (benefit) | 15,931 | 658 | (226 | ) | 1,149 | (543 | ) | 16,969 | |||||||||||||||||
Net income (loss) | 38,194 | 1,168 | (428 | ) | 1,878 | (469 | ) | 40,343 | |||||||||||||||||
Total assets | 16,100,851 | 21,125 | 18,464 | 182,662 | (44,254 | ) | 16,278,848 | ||||||||||||||||||
Total intangibles | 852,764 | 10,652 | 10,021 | 1,809 | — | 875,246 | |||||||||||||||||||
At or for the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
Interest income | $ | 106,691 | $ | — | $ | 25 | $ | 9,365 | $ | 1,799 | $ | 117,880 | |||||||||||||
Interest expense | 8,248 | — | — | 846 | 961 | 10,055 | |||||||||||||||||||
Net interest income | 98,443 | — | 25 | 8,519 | 838 | 107,825 | |||||||||||||||||||
Provision for credit losses | 5,296 | — | — | 1,457 | 253 | 7,006 | |||||||||||||||||||
Non-interest income | 31,913 | 7,323 | 4,210 | 660 | (2,036 | ) | 42,070 | ||||||||||||||||||
Non-interest expense | 76,866 | 6,292 | 3,046 | 4,937 | 742 | 91,883 | |||||||||||||||||||
Intangible amortization | 2,110 | 72 | 101 | — | — | 2,283 | |||||||||||||||||||
Income tax expense (benefit) | 13,343 | 351 | 385 | 1,073 | (953 | ) | 14,199 | ||||||||||||||||||
Net income (loss) | 32,741 | 608 | 703 | 1,712 | (1,240 | ) | 34,524 | ||||||||||||||||||
Total assets | 14,299,543 | 19,542 | 19,954 | 182,018 | (44,547 | ) | 14,476,510 | ||||||||||||||||||
Total intangibles | 833,642 | 10,936 | 10,425 | 1,809 | — | 856,812 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
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 | ||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Assets Measured at Fair Value | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury | $ | — | $ | 29,937 | $ | — | $ | 29,937 | |||||||||||||
U.S. government-sponsored entities | — | 390,660 | — | 390,660 | |||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||
Agency mortgage-backed securities | — | 505,561 | — | 505,561 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 572,017 | — | 572,017 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 10 | 1,354 | 1,364 | |||||||||||||||||
Commercial mortgage-backed securities | — | 6,843 | — | 6,843 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 13,175 | — | 13,175 | |||||||||||||||||
Other debt securities | — | 16,231 | — | 16,231 | |||||||||||||||||
— | 1,534,434 | 1,354 | 1,535,788 | ||||||||||||||||||
Available for sale equity securities: | |||||||||||||||||||||
Financial services industry | 91 | 645 | 435 | 1,171 | |||||||||||||||||
Insurance services industry | 121 | — | — | 121 | |||||||||||||||||
212 | 645 | 435 | 1,292 | ||||||||||||||||||
212 | 1,535,079 | 1,789 | 1,537,080 | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | 53,614 | — | 53,614 | |||||||||||||||||
Not for trading | — | 3,937 | — | 3,937 | |||||||||||||||||
— | 57,551 | — | 57,551 | ||||||||||||||||||
$ | 212 | $ | 1,592,630 | $ | 1,789 | $ | 1,594,631 | ||||||||||||||
Liabilities Measured at Fair Value | |||||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | $ | 53,762 | — | $ | 53,762 | |||||||||||||||
Not for trading | — | 669 | — | 669 | |||||||||||||||||
— | $ | 54,431 | — | $ | 54,431 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Assets Measured at Fair Value | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury | $ | — | $ | 29,682 | $ | — | $ | 29,682 | |||||||||||||
U.S. government-sponsored entities | — | 337,133 | — | 337,133 | |||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||
Agency mortgage-backed securities | — | 554,085 | — | 554,085 | |||||||||||||||||
Agency collateralized mortgage obligations | — | 573,171 | — | 573,171 | |||||||||||||||||
Non-agency collateralized mortgage obligations | — | 11 | 1,420 | 1,431 | |||||||||||||||||
Commercial mortgage-backed securities | — | 7,880 | — | 7,880 | |||||||||||||||||
States of the U.S. and political subdivisions | — | 13,158 | — | 13,158 | |||||||||||||||||
Other debt securities | — | 16,178 | — | 16,178 | |||||||||||||||||
— | 1,531,298 | 1,420 | 1,532,718 | ||||||||||||||||||
Available for sale equity securities: | |||||||||||||||||||||
Financial services industry | 99 | 654 | 475 | 1,228 | |||||||||||||||||
Insurance services industry | 119 | — | — | 119 | |||||||||||||||||
218 | 654 | 475 | 1,347 | ||||||||||||||||||
218 | 1,531,952 | 1,895 | 1,534,065 | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | 43,789 | — | 43,789 | |||||||||||||||||
Not for trading | — | 2,109 | — | 2,109 | |||||||||||||||||
— | 45,898 | — | 45,898 | ||||||||||||||||||
$ | 218 | $ | 1,577,850 | $ | 1,895 | $ | 1,579,963 | ||||||||||||||
Liabilities Measured at Fair Value | |||||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Trading | — | $ | 43,830 | — | $ | 43,830 | |||||||||||||||
Not for trading | — | 2,330 | — | 2,330 | |||||||||||||||||
— | $ | 46,160 | — | $ | 46,160 | ||||||||||||||||
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 | Equity | Residential | Total | ||||||||||||||||||
Preferred | Securities | Non-Agency | |||||||||||||||||||
Collateralized | Collateralized | ||||||||||||||||||||
Debt | Mortgage | ||||||||||||||||||||
Obligations | Obligations | ||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Balance at beginning of period | — | $ | 475 | $ | 1,420 | $ | 1,895 | ||||||||||||||
Total gains (losses) – realized/unrealized: | |||||||||||||||||||||
Included in earnings | — | — | — | — | |||||||||||||||||
Included in other comprehensive income | — | (40 | ) | (12 | ) | (52 | ) | ||||||||||||||
Accretion included in earnings | — | — | 1 | 1 | |||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | |||||||||||||||||
Issuances | — | — | — | — | |||||||||||||||||
Sales/redemptions | — | — | — | — | |||||||||||||||||
Settlements | — | — | (55 | ) | (55 | ) | |||||||||||||||
Transfers from Level 3 | — | — | — | — | |||||||||||||||||
Transfers into Level 3 | — | — | — | — | |||||||||||||||||
Balance at end of period | — | $ | 435 | $ | 1,354 | $ | 1,789 | ||||||||||||||
Year Ended December 31, 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 | 65 | 3 | 5,676 | |||||||||||||||||
Accretion included in earnings | 657 | — | 5 | 662 | |||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||
Purchases | — | — | — | — | |||||||||||||||||
Issuances | — | — | — | — | |||||||||||||||||
Sales/redemptions | (51,527 | ) | — | — | (51,527 | ) | |||||||||||||||
Settlements | (99 | ) | — | (332 | ) | (431 | ) | ||||||||||||||
Transfers from Level 3 | — | — | — | — | |||||||||||||||||
Transfers into Level 3 | — | — | — | — | |||||||||||||||||
Balance at end of period | $ | — | $ | 475 | $ | 1,420 | $ | 1,895 | |||||||||||||
Additional Information about Assets Measured at Fair Value on Non-Recurring Basis | 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 | ||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Impaired loans | — | $ | 190 | $ | 693 | $ | 883 | ||||||||||||||
Other real estate owned | — | 977 | 1,433 | 2,410 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Impaired loans | — | 177 | 1,528 | 1,705 | |||||||||||||||||
Other real estate owned | — | 5,695 | 2,365 | 8,060 | |||||||||||||||||
Fair Values of Corporation's Financial Instruments | The fair values of the Corporation’s financial instruments are as follows: | ||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | |||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 234,246 | $ | 234,246 | $ | 234,246 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,537,080 | 1,537,080 | 212 | 1,535,079 | 1,789 | ||||||||||||||||
Securities held to maturity | 1,513,204 | 1,536,449 | — | 1,532,588 | 3,861 | ||||||||||||||||
Net loans and leases, including loans held for sale | 11,280,221 | 11,119,711 | — | — | 11,119,711 | ||||||||||||||||
Derivative assets | 57,551 | 57,551 | — | 57,551 | — | ||||||||||||||||
Accrued interest receivable | 41,935 | 41,935 | 41,935 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 11,806,043 | 11,812,401 | 9,217,159 | 2,595,242 | — | ||||||||||||||||
Short-term borrowings | 1,740,500 | 1,740,499 | 1,740,499 | — | — | ||||||||||||||||
Long-term borrowings | 541,474 | 541,955 | — | — | 541,955 | ||||||||||||||||
Derivative liabilities | 54,431 | 54,431 | — | 54,431 | — | ||||||||||||||||
Accrued interest payable | 6,511 | 6,511 | 6,511 | — | — | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 287,393 | $ | 287,393 | $ | 287,393 | $ | — | $ | — | |||||||||||
Securities available for sale | 1,534,065 | 1,534,065 | 218 | 1,531,952 | 1,895 | ||||||||||||||||
Securities held to maturity | 1,453,355 | 1,468,258 | — | 1,463,945 | 4,313 | ||||||||||||||||
Net loans and leases, including loans held for sale | 11,127,292 | 10,956,544 | — | — | 10,956,544 | ||||||||||||||||
Derivative assets | 45,898 | 45,898 | — | 45,898 | — | ||||||||||||||||
Accrued interest receivable | 40,231 | 40,231 | 40,231 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 11,382,208 | 11,382,402 | 8,771,173 | 2,611,229 | — | ||||||||||||||||
Short-term borrowings | 2,041,658 | 2,041,672 | 2,041,672 | — | — | ||||||||||||||||
Long-term borrowings | 541,443 | 539,007 | — | — | 539,007 | ||||||||||||||||
Derivative liabilities | 46,160 | 46,160 | — | 46,160 | — | ||||||||||||||||
Accrued interest payable | 6,689 | 6,689 | 6,689 | — | — |
Business_Additional_Informatio
Business - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
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 | 73 |
Number of banking offices | 287 |
Mergers_and_Acquisitions_Addit
Mergers and Acquisitions - Additional Information (Detail) (USD $) | 0 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 19, 2014 | Feb. 15, 2014 | Mar. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||
Goodwill recorded as a result of merger | $829,726 | $832,213 | ||
OBA Financial Services, Inc. (OBA) [Member] | ||||
Business Acquisition [Line Items] | ||||
Assets acquired as a result of merger | 390,128 | |||
Loans acquired as a result of merger | 291,393 | |||
Deposits acquired as a result of merger | 295,922 | |||
Value of acquisition | 85,554 | |||
Common shares issued | 7,170,037 | |||
Common shares acquired | 4,025,895 | |||
Goodwill recorded as a result of merger | 20,139 | |||
Core deposit intangibles recorded as result of the acquisition | 4,304 | |||
BCSB Bancorp, Inc. (BCSB) [Member] | ||||
Business Acquisition [Line Items] | ||||
Assets acquired as a result of merger | 596,122 | |||
Loans acquired as a result of merger | 304,932 | |||
Deposits acquired as a result of merger | 532,197 | |||
Value of acquisition | 80,547 | |||
Common shares issued | 6,730,597 | |||
Common shares acquired | 3,235,961 | |||
Goodwill recorded as a result of merger | 42,451 | |||
Core deposit intangibles recorded as result of the acquisition | $6,591 |
Securities_Schedule_of_Amortiz
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | $1,524,825 | $1,534,771 |
Securities Available For Sale, Gross Unrealized Gains | 18,943 | 11,215 |
Securities Available For Sale, Gross Unrealized Losses | -6,688 | -11,921 |
Securities Available For Sale, Fair Value | 1,537,080 | 1,534,065 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 29,637 | 29,604 |
Securities Available For Sale, Gross Unrealized Gains | 300 | 78 |
Securities Available For Sale, Fair Value | 29,937 | 29,682 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 388,363 | 338,330 |
Securities Available For Sale, Gross Unrealized Gains | 2,818 | 742 |
Securities Available For Sale, Gross Unrealized Losses | -521 | -1,939 |
Securities Available For Sale, Fair Value | 390,660 | 337,133 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 494,497 | 546,572 |
Securities Available For Sale, Gross Unrealized Gains | 11,064 | 7,548 |
Securities Available For Sale, Gross Unrealized Losses | -35 | |
Securities Available For Sale, Fair Value | 505,561 | 554,085 |
Securities Available For Sale, Fair Value | 505,561 | |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 573,738 | 580,601 |
Securities Available For Sale, Gross Unrealized Gains | 3,646 | 1,617 |
Securities Available For Sale, Gross Unrealized Losses | -5,367 | -9,047 |
Securities Available For Sale, Fair Value | 572,017 | 573,171 |
Securities Available For Sale, Fair Value | 572,017 | |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 1,359 | 1,414 |
Securities Available For Sale, Gross Unrealized Gains | 5 | 17 |
Securities Available For Sale, Fair Value | 1,364 | 1,431 |
Securities Available For Sale, Fair Value | 1,364 | |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 6,844 | 7,891 |
Securities Available For Sale, Gross Unrealized Losses | -1 | -11 |
Securities Available For Sale, Fair Value | 6,843 | 7,880 |
Securities Available For Sale, Fair Value | 6,843 | |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 12,713 | 12,713 |
Securities Available For Sale, Gross Unrealized Gains | 476 | 477 |
Securities Available For Sale, Gross Unrealized Losses | -14 | -32 |
Securities Available For Sale, Fair Value | 13,175 | 13,158 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 16,643 | 16,615 |
Securities Available For Sale, Gross Unrealized Gains | 373 | 420 |
Securities Available For Sale, Gross Unrealized Losses | -785 | -857 |
Securities Available For Sale, Fair Value | 16,231 | 16,178 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 1,523,794 | 1,533,740 |
Securities Available For Sale, Gross Unrealized Gains | 18,682 | 10,899 |
Securities Available For Sale, Gross Unrealized Losses | -6,688 | -11,921 |
Securities Available For Sale, Fair Value | 1,535,788 | 1,532,718 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 1,031 | 1,031 |
Securities Available For Sale, Gross Unrealized Gains | 261 | 316 |
Securities Available For Sale, Gross Unrealized Losses | 0 | 0 |
Securities Available For Sale, Fair Value | 1,292 | 1,347 |
Securities Available For Sale, Fair Value | $1,292 |
Securities_Schedule_of_Amortiz1
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | $1,513,204 | $1,453,355 |
Securities Held To Maturity, Gross Unrealized Gains | 28,454 | 23,145 |
Securities Held To Maturity, Gross Unrealized Losses | -5,209 | -8,242 |
Securities held to maturity, fair value | 1,536,449 | 1,468,258 |
U.S. Treasury [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 500 | 502 |
Securities Held To Maturity, Gross Unrealized Gains | 182 | 168 |
Securities held to maturity, fair value | 682 | 670 |
U.S. Government-Sponsored Entities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 146,578 | 101,602 |
Securities Held To Maturity, Gross Unrealized Gains | 1,731 | 885 |
Securities Held To Maturity, Gross Unrealized Losses | -149 | -524 |
Securities held to maturity, fair value | 148,160 | 101,963 |
Agency Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 674,101 | 677,169 |
Securities Held To Maturity, Gross Unrealized Gains | 19,130 | 16,712 |
Securities Held To Maturity, Gross Unrealized Losses | -20 | -346 |
Securities held to maturity, fair value | 693,211 | 693,535 |
Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 505,859 | 501,965 |
Securities Held To Maturity, Gross Unrealized Gains | 3,633 | 1,858 |
Securities Held To Maturity, Gross Unrealized Losses | -4,884 | -7,329 |
Securities held to maturity, fair value | 504,608 | 496,494 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 3,840 | 4,285 |
Securities Held To Maturity, Gross Unrealized Gains | 21 | 28 |
Securities held to maturity, fair value | 3,861 | 4,313 |
Commercial Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 17,484 | 17,560 |
Securities Held To Maturity, Gross Unrealized Gains | 385 | 179 |
Securities held to maturity, fair value | 17,869 | 17,739 |
States of the U.S. and Political Subdivisions [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 164,842 | 150,272 |
Securities Held To Maturity, Gross Unrealized Gains | 3,372 | 3,315 |
Securities Held To Maturity, Gross Unrealized Losses | -156 | -43 |
Securities held to maturity, fair value | $168,058 | $153,544 |
Securities_Gross_Gains_and_Gro
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Gross gains | $18,009 | |
Gross losses | -9 | -8,548 |
Total | ($9) | $9,461 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Security | Securities | ||
Schedule Of Securities [Line Items] | |||
Number of pooled issue securities | 23 | ||
Net proceeds from sale of securities | $33,228 | $85,877 | |
Net securities (losses) gains | -9 | 9,461 | |
Securities pledged to secure public deposits, trust deposits and for other purposes, carrying value | 1,315,565 | 1,036,380 | |
Securities pledged as collateral for short-term borrowings, carrying value | 807,261 | 892,647 | |
Number of single-issuer securities | 4 | ||
Estimated fair value of single-issue trust preferred securities | 6,890 | ||
Amortized cost of single-issue trust preferred securities | 6,105 | ||
Impairment losses on securities | 0 | 0 | |
Municipal bond portfolio, value | 178,017 | ||
Municipal Debt Securities [Member] | Combined A Rating [Member] | Minimum [Member] | |||
Schedule Of Securities [Line Items] | |||
Percentage of portfolio | 99.00% | ||
Municipal Debt Securities [Member] | General Obligation Bonds [Member] | |||
Schedule Of Securities [Line Items] | |||
Percentage of portfolio | 99.50% | ||
Municipal Debt Securities [Member] | Pennsylvania, Ohio and Maryland [Member] | |||
Schedule Of Securities [Line Items] | |||
Percentage of portfolio | 89.90% | ||
Municipal Debt Securities [Member] | Capital Support Agreement [Member] | |||
Schedule Of Securities [Line Items] | |||
Percentage of portfolio | 88.00% | ||
Municipal Debt Securities [Member] | Weighted Average [Member] | |||
Schedule Of Securities [Line Items] | |||
Carrying amount per bond | 1,203 | ||
Pooled TPS [Member] | |||
Schedule Of Securities [Line Items] | |||
Net proceeds from sale of securities | 51,540 | ||
Net securities (losses) gains | 13,766 | ||
Other Securities [Member] | |||
Schedule Of Securities [Line Items] | |||
Net securities (losses) gains | ($4,305) |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule Of Securities [Line Items] | ||
Available for Sale, Due in one year or less, Amortized Cost | $4,985 | |
Available for Sale, Due from one to five years, Amortized Cost | 423,890 | |
Available for Sale, Due from five to ten years, Amortized Cost | 11,591 | |
Available for Sale, Due after ten years, Amortized Cost | 6,890 | |
Available for Sale, with contractual maturities, Amortized Cost | 447,356 | |
Total securities available for sale, Amortized Cost | 1,524,825 | 1,534,771 |
Available for Sale, Due in one year or less, Fair Value | 5,069 | |
Available for Sale, Due from one to five years, Fair Value | 426,811 | |
Available for Sale, Due from five to ten years, Fair Value | 12,018 | |
Available for Sale, Due after ten years, Fair Value | 6,105 | |
Available for Sale, with contractual maturities, Fair Value | 450,003 | |
Total available for sale Securities, Fair Value | 1,537,080 | 1,534,065 |
Held to Maturity, Due in one year or less, Amortized Cost | 1,282 | |
Held to Maturity, Due from one to five years, Amortized Cost | 138,269 | |
Held to Maturity, Due from five to ten years, Amortized Cost | 72,457 | |
Held to Maturity, Due after ten years, Amortized Cost | 99,912 | |
Securities Held To Maturity, with contractual maturities, Amortized Cost | 311,920 | |
Held to Maturity, with contractual maturities, Amortized Cost | 1,513,204 | 1,453,355 |
Held to Maturity, Due in one year or less, Fair Value | 1,285 | |
Held to Maturity, Due from one to five years, Fair Value | 139,139 | |
Held to Maturity, Due from five to ten years, Fair Value | 74,672 | |
Held to Maturity, Due after ten years, Fair Value | 101,804 | |
Securities Held To Maturity, with contractual maturities, Fair Value | 316,900 | |
Held to Maturity, with contractual maturities, Fair Value | 1,536,449 | 1,468,258 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 494,497 | 546,572 |
Total available for sale Securities, Fair Value | 505,561 | |
Held to Maturity, with contractual maturities, Amortized Cost | 674,101 | 677,169 |
Held to Maturity, with contractual maturities, Fair Value | 693,211 | 693,535 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 573,738 | 580,601 |
Total available for sale Securities, Fair Value | 572,017 | |
Held to Maturity, with contractual maturities, Amortized Cost | 505,859 | 501,965 |
Held to Maturity, with contractual maturities, Fair Value | 504,608 | 496,494 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 1,359 | 1,414 |
Total available for sale Securities, Fair Value | 1,364 | |
Held to Maturity, with contractual maturities, Amortized Cost | 3,840 | 4,285 |
Held to Maturity, with contractual maturities, Fair Value | 3,861 | 4,313 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 6,844 | 7,891 |
Total available for sale Securities, Fair Value | 6,843 | |
Held to Maturity, with contractual maturities, Amortized Cost | 17,484 | 17,560 |
Held to Maturity, with contractual maturities, Fair Value | 17,869 | 17,739 |
Equity Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 1,031 | 1,031 |
Total available for sale Securities, Fair Value | $1,292 |
Securities_Summaries_of_Fair_V
Securities - Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | Security | Security |
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | 8 | 19 |
Number of available for sale securities, Greater than 1 year | 27 | 28 |
Number of available for sale securities | 35 | 47 |
Securities Available For Sale, Less than 12 Months, Fair Value | $128,698 | $309,919 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -342 | -1,559 |
Securities Available For Sale, 12 Months or More, Fair Value | 305,018 | 332,215 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -6,346 | -10,362 |
Securities Available For Sale, Fair Value, Total | 433,716 | 642,134 |
Securities Available For Sale, Unrealized Losses, Total | -6,688 | -11,921 |
Number of held to maturity securities | 29 | 36 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 98,314 | 131,586 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -588 | -675 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 201,581 | 269,653 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -4,621 | -7,567 |
Securities Held To Maturity, Fair Value, Total | 299,895 | 401,239 |
Securities Held To Maturity, Unrealized Losses, Total | -5,209 | -8,242 |
Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 13 | 12 |
Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 16 | 24 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | 3 | 7 |
Number of available for sale securities, Greater than 1 year | 5 | 7 |
Number of available for sale securities | 8 | 14 |
Securities Available For Sale, Less than 12 Months, Fair Value | 59,857 | 89,986 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -142 | -275 |
Securities Available For Sale, 12 Months or More, Fair Value | 55,612 | 99,326 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -379 | -1,664 |
Securities Available For Sale, Fair Value, Total | 115,469 | 189,312 |
Securities Available For Sale, Unrealized Losses, Total | -521 | -1,939 |
Number of held to maturity securities | 2 | 4 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 14,970 | 24,989 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -30 | -40 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 14,881 | 29,516 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -119 | -484 |
Securities Held To Maturity, Fair Value, Total | 29,851 | 54,505 |
Securities Held To Maturity, Unrealized Losses, Total | -149 | -524 |
U.S. Government-Sponsored Entities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 1 | 2 |
U.S. Government-Sponsored Entities [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 1 | 2 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | 2 | |
Number of available for sale securities | 2 | |
Securities Available For Sale, Less than 12 Months, Fair Value | 45,145 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -35 | |
Securities Available For Sale, Fair Value, Total | 45,145 | |
Securities Available For Sale, Unrealized Losses, Total | -35 | |
Number of held to maturity securities | 1 | 5 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 1,099 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -1 | |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 1,234 | 45,042 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -20 | -345 |
Securities Held To Maturity, Fair Value, Total | 1,234 | 46,141 |
Securities Held To Maturity, Unrealized Losses, Total | -20 | -346 |
Agency Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 1 | |
Agency Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 1 | 4 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | 4 | 9 |
Number of available for sale securities, Greater than 1 year | 17 | 16 |
Number of available for sale securities | 21 | 25 |
Securities Available For Sale, Less than 12 Months, Fair Value | 61,998 | 166,908 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -199 | -1,238 |
Securities Available For Sale, 12 Months or More, Fair Value | 242,124 | 225,700 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -5,168 | -7,809 |
Securities Available For Sale, Fair Value, Total | 304,122 | 392,608 |
Securities Available For Sale, Unrealized Losses, Total | -5,367 | -9,047 |
Number of held to maturity securities | 18 | 22 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 69,926 | 104,071 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -402 | -630 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 185,466 | 189,642 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -4,482 | -6,699 |
Securities Held To Maturity, Fair Value, Total | 255,392 | 293,713 |
Securities Held To Maturity, Unrealized Losses, Total | -4,884 | -7,329 |
Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 4 | 8 |
Agency Collateralized Mortgage Obligations [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | 14 | 14 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | 1 | 1 |
Number of available for sale securities | 1 | 1 |
Securities Available For Sale, Less than 12 Months, Fair Value | 6,843 | 7,880 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | -1 | -11 |
Securities Available For Sale, Fair Value, Total | 6,843 | 7,880 |
Securities Available For Sale, Unrealized Losses, Total | -1 | -11 |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Greater than 1 year | 1 | 1 |
Number of available for sale securities | 1 | 1 |
Securities Available For Sale, 12 Months or More, Fair Value | 1,177 | 1,159 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -14 | -32 |
Securities Available For Sale, Fair Value, Total | 1,177 | 1,159 |
Securities Available For Sale, Unrealized Losses, Total | -14 | -32 |
Number of held to maturity securities | 8 | 5 |
Securities Held To Maturity, Less than 12 Months, Fair Value | 13,418 | 1,427 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | -156 | -4 |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 5,453 | |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | -39 | |
Securities Held To Maturity, Fair Value, Total | 13,418 | 6,880 |
Securities Held To Maturity, Unrealized Losses, Total | -156 | -43 |
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 | 8 | 1 |
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 | 4 | |
Other Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Greater than 1 year | 4 | 4 |
Number of available for sale securities | 4 | 4 |
Securities Available For Sale, 12 Months or More, Fair Value | 6,105 | 6,030 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | -785 | -857 |
Securities Available For Sale, Fair Value, Total | 6,105 | 6,030 |
Securities Available For Sale, Unrealized Losses, Total | ($785) | ($857) |
Securities_Summary_of_Cumulati
Securities - Summary of Cumulative Credit-Related OTTI Charges (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Beginning balance | $27 | $17,182 |
Loss where impairment was not previously recognized | 0 | 0 |
Additional loss where impairment was previously recognized | 0 | 0 |
Reduction due to credit impaired securities sold | -17,155 | |
Ending balance | 27 | 27 |
Collateralized Debt Obligations [Member] | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Beginning balance | 17,155 | |
Loss where impairment was not previously recognized | 0 | 0 |
Additional loss where impairment was previously recognized | 0 | 0 |
Reduction due to credit impaired securities sold | -17,155 | |
Equity Securities [Member] | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Beginning balance | 27 | 27 |
Loss where impairment was not previously recognized | 0 | 0 |
Additional loss where impairment was previously recognized | 0 | 0 |
Ending balance | $27 | $27 |
Federal_Home_Loan_Bank_Stock_A
Federal Home Loan Bank Stock - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Federal Home Loan Bank stock | $42,000 | $54,751 |
Loans_and_Leases_Summary_of_Lo
Loans and Leases - Summary of Loans and Leases, Net of Unearned Income (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $11,404,099 | $11,247,038 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,817,189 | 3,815,708 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,397,731 | 2,318,015 |
Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 180,207 | 177,824 |
Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 6,395,127 | 6,311,547 |
Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,653,621 | 1,644,621 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,299,097 | 1,263,053 |
Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 905,204 | 875,551 |
Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,108,418 | 1,110,976 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 42,632 | 41,290 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 9,915,931 | 9,666,145 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,082,385 | 3,031,810 |
Originated Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,281,075 | 2,197,793 |
Originated Loans [Member] | Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 180,207 | 177,824 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,543,667 | 5,407,427 |
Originated Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,594,846 | 1,579,770 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 877,437 | 817,586 |
Originated Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 903,780 | 873,645 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 953,569 | 946,427 |
Originated Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 42,632 | 41,290 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,488,168 | 1,580,893 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 734,804 | 783,898 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 116,656 | 120,222 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 851,460 | 904,120 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 58,775 | 64,851 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 421,660 | 445,467 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,424 | 1,906 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $154,849 | $164,549 |
Loans_and_Leases_Additional_In
Loans and Leases - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial construction loans | $227,179 | $296,156 | |
Carrying amount | 11,404,099 | 11,247,038 | |
Sustained period of delinquency for impairment evaluation | 90 days | 90 days | |
Minimum corporation reserves for commercial loan | 500 | ||
Minimum amount to allocate specific valuation allowance | 500 | ||
Allowance for loan losses | 7,252 | 7,974 | |
Restructured loans returned to performing status | 3,975 | ||
Valuation for impairment of loans with pooled reserves | 500 | 500 | |
Pooled reserves for all other classes of loans | 4,146 | 3,448 | |
Consumer Lines of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Consumer loans | 174,239 | 180,588 | |
Carrying amount | 1,108,418 | 1,110,976 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 3,817,189 | 3,815,708 | |
Allowance for loan losses | 3,327 | 3,286 | |
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 2,397,731 | 2,318,015 | |
Allowance for loan losses | 712 | 1,484 | |
Direct Installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 1,653,621 | 1,644,621 | |
Allowance for loan losses | 1,477 | 1,847 | |
Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 1,299,097 | 1,263,053 | |
Allowance for loan losses | 1,193 | 858 | |
Indirect Installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 905,204 | 875,551 | |
Allowance for loan losses | 229 | 232 | |
Consumer Lines Of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 314 | 267 | |
Loans and Leases Receivable Net of Deferred Income [Member] | Consumer Lines of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 1.50% | 1.60% | |
Loans and Leases Receivable Net of Deferred Income [Member] | Commercial Construction Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 2.00% | 2.60% | |
Commercial Real Estate [Member] | Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 40.80% | 41.60% | |
Commercial Real Estate [Member] | Non-Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 59.20% | 58.40% | |
Specific reserves for commercial TDRs [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Reserves in allowance for loan losses, TDRs | 646 | 371 | |
Pooled reserves for commercial TDRs [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Reserves in allowance for loan losses, TDRs | 1,203 | 1,215 | |
Purchased Credit-Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 7,100 | 9,556 | |
Purchased Credit-Impaired Loans [Member] | Acquired Loans Receivable [Member] | Credit Concentration Risk [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 1.00% | ||
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 | ||
Carrying value of OREO through foreclosure | 3,541 | ||
Mortgage loans on real estate, foreclosure | $14,186 |
Loans_and_Leases_Summary_of_Ou
Loans and Leases - Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $11,404,099 | $11,247,038 |
Accounted for under ASC 310-30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 1,513,616 | 1,597,558 |
Carrying amount | 1,259,995 | 1,344,171 |
Accounted for under ASC 310-20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 232,524 | 242,488 |
Carrying amount | 220,921 | 228,748 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 1,746,140 | 1,840,046 |
Carrying amount | $1,480,916 | $1,572,919 |
Loans_and_Leases_Summary_of_Ch
Loans and Leases - Summary of Change in Accretable Yield of Acquired Loans (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | ||
Balance at beginning of period | $331,899 | $305,646 |
Reduction due to unexpected early payoffs | -11,909 | -12,694 |
Reclass from non-accretable difference | 7,676 | 768 |
Disposals/transfers | -118 | -944 |
Accretion | -16,264 | -15,913 |
Balance at end of period | $311,284 | $276,863 |
Loans_and_Leases_Summary_of_No
Loans and Leases - Summary of Non-Performing Assets (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | $42,855 | $41,152 |
Non-Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 45,029 | 45,113 |
Troubled debt restructurings | 22,022 | 23,439 |
Total non-performing loans | 67,051 | 68,552 |
Other real estate owned (OREO) | 40,796 | 41,466 |
Total non-performing assets | $107,847 | $110,018 |
Non-performing loans as a percent of total loans and leases | 0.59% | 0.61% |
Non-performing loans + OREO as a percent of total loans and leases + OREO | 0.94% | 0.97% |
Non-performing assets as a percent of total assets | 0.66% | 0.68% |
Loans_and_Leases_Age_Analysis_
Loans and Leases - Age Analysis of Past Due Loans, by Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $11,404,099 | $11,247,038 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,817,189 | 3,815,708 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,397,731 | 2,318,015 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 180,207 | 177,824 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 6,395,127 | 6,311,547 |
Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,653,621 | 1,644,621 |
Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,299,097 | 1,263,053 |
Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 905,204 | 875,551 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,108,418 | 1,110,976 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 42,632 | 41,290 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 34,042 | 41,275 |
> 90 Days Past Due and Still Accruing | 6,543 | 9,248 |
Non-Accrual | 45,029 | 45,113 |
Total Past Due | 85,614 | 95,636 |
Current | 9,830,317 | 9,570,509 |
Total Loans | 9,915,931 | 9,666,145 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 6,655 | 9,601 |
> 90 Days Past Due and Still Accruing | 130 | 313 |
Non-Accrual | 23,653 | 24,132 |
Total Past Due | 30,438 | 34,046 |
Current | 3,051,947 | 2,997,764 |
Total Loans | 3,082,385 | 3,031,810 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,939 | 2,446 |
> 90 Days Past Due and Still Accruing | 3 | 3 |
Non-Accrual | 8,846 | 8,310 |
Total Past Due | 11,788 | 10,759 |
Current | 2,269,287 | 2,187,034 |
Total Loans | 2,281,075 | 2,197,793 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,097 | 961 |
> 90 Days Past Due and Still Accruing | 43 | |
Non-Accrual | 732 | 722 |
Total Past Due | 1,829 | 1,726 |
Current | 178,378 | 176,098 |
Total Loans | 180,207 | 177,824 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 10,691 | 13,008 |
> 90 Days Past Due and Still Accruing | 133 | 359 |
Non-Accrual | 33,231 | 33,164 |
Total Past Due | 44,055 | 46,531 |
Current | 5,499,612 | 5,360,896 |
Total Loans | 5,543,667 | 5,407,427 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 8,748 | 9,333 |
> 90 Days Past Due and Still Accruing | 3,575 | 3,617 |
Non-Accrual | 6,464 | 7,117 |
Total Past Due | 18,787 | 20,067 |
Current | 1,576,059 | 1,559,703 |
Total Loans | 1,594,846 | 1,579,770 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 7,040 | 8,709 |
> 90 Days Past Due and Still Accruing | 1,731 | 3,891 |
Non-Accrual | 3,625 | 2,964 |
Total Past Due | 12,396 | 15,564 |
Current | 865,041 | 802,022 |
Total Loans | 877,437 | 817,586 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 5,015 | 7,804 |
> 90 Days Past Due and Still Accruing | 409 | 684 |
Non-Accrual | 1,111 | 1,149 |
Total Past Due | 6,535 | 9,637 |
Current | 897,245 | 864,008 |
Total Loans | 903,780 | 873,645 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,501 | 2,408 |
> 90 Days Past Due and Still Accruing | 656 | 562 |
Non-Accrual | 598 | 719 |
Total Past Due | 3,755 | 3,689 |
Current | 949,814 | 942,738 |
Total Loans | 953,569 | 946,427 |
Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 47 | 13 |
> 90 Days Past Due and Still Accruing | 39 | 135 |
Total Past Due | 86 | 148 |
Current | 42,546 | 41,142 |
Total Loans | 42,632 | 41,290 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 19,854 | 24,678 |
> 90 Days Past Due and Still Accruing | 35,906 | 38,024 |
Total Past Due | 55,760 | 62,702 |
Current | 1,523,538 | 1,612,959 |
Discount | -91,130 | -94,768 |
Total Loans | 1,488,168 | 1,580,893 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 8,813 | 12,076 |
> 90 Days Past Due and Still Accruing | 12,445 | 12,368 |
Total Past Due | 21,258 | 24,444 |
Current | 753,073 | 799,991 |
Discount | -39,527 | -40,537 |
Total Loans | 734,804 | 783,898 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,023 | 687 |
> 90 Days Past Due and Still Accruing | 1,651 | 1,968 |
Total Past Due | 2,674 | 2,655 |
Current | 122,604 | 127,535 |
Discount | -8,622 | -9,968 |
Total Loans | 116,656 | 120,222 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,836 | 12,763 |
> 90 Days Past Due and Still Accruing | 14,096 | 14,336 |
Total Past Due | 23,932 | 27,099 |
Current | 875,677 | 927,526 |
Discount | -48,149 | -50,505 |
Total Loans | 851,460 | 904,120 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,199 | 2,670 |
> 90 Days Past Due and Still Accruing | 1,112 | 1,443 |
Total Past Due | 2,311 | 4,113 |
Current | 55,476 | 59,532 |
Discount | 988 | 1,206 |
Total Loans | 58,775 | 64,851 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 7,695 | 8,159 |
> 90 Days Past Due and Still Accruing | 18,535 | 19,936 |
Total Past Due | 26,230 | 28,095 |
Current | 434,061 | 456,810 |
Discount | -38,631 | -39,438 |
Total Loans | 421,660 | 445,467 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9 | 38 |
> 90 Days Past Due and Still Accruing | 17 | 30 |
Total Past Due | 26 | 68 |
Current | 1,648 | 2,179 |
Discount | -250 | -341 |
Total Loans | 1,424 | 1,906 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,115 | 1,048 |
> 90 Days Past Due and Still Accruing | 2,146 | 2,279 |
Total Past Due | 3,261 | 3,327 |
Current | 156,676 | 166,912 |
Discount | -5,088 | -5,690 |
Total Loans | $154,849 | $164,549 |
Loans_and_Leases_Summary_of_Co
Loans and Leases - Summary of Commercial Loans and Leases by Credit Quality (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $5,543,667 | $5,407,427 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,082,385 | 3,031,810 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,281,075 | 2,197,793 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 180,207 | 177,824 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 851,460 | 904,120 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 734,804 | 783,898 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 116,656 | 120,222 |
Pass [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,327,699 | 5,151,400 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,960,542 | 2,890,830 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,190,066 | 2,085,893 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 177,091 | 174,677 |
Pass [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 682,436 | 714,122 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 579,462 | 610,260 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 102,974 | 103,862 |
Special Mention [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 108,630 | 132,248 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 52,926 | 58,630 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 53,482 | 71,420 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,222 | 2,198 |
Special Mention [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 67,303 | 77,397 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 64,892 | 73,891 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,411 | 3,506 |
Substandard [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 105,157 | 122,584 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 68,182 | 81,951 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 36,081 | 39,684 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 894 | 949 |
Substandard [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 101,721 | 112,601 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 90,450 | 99,747 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 11,271 | 12,854 |
Doubtful [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,181 | 1,195 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 735 | 399 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $1,446 | $796 |
Loans_and_Leases_Summary_of_Co1
Loans and Leases - Summary of Consumer Loans by Payment Status (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Credit Quality [Line Items] | ||
Total Loans | $11,404,099 | $11,247,038 |
Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 67,051 | 68,552 |
Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,653,621 | 1,644,621 |
Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,581,078 | 1,565,090 |
Direct Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 13,768 | 14,680 |
Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,299,097 | 1,263,053 |
Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 862,965 | 802,522 |
Residential Mortgages [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 14,472 | 15,064 |
Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 905,204 | 875,551 |
Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 902,515 | 872,340 |
Indirect Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 1,265 | 1,305 |
Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 951,980 | 944,631 |
Consumer Lines of Credit [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 1,589 | 1,796 |
Other [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 42,632 | 41,290 |
Other [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 42,632 | 41,290 |
Originated Loans [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 9,915,931 | 9,666,145 |
Originated Loans [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,594,846 | 1,579,770 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 877,437 | 817,586 |
Originated Loans [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 903,780 | 873,645 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 953,569 | 946,427 |
Originated Loans [Member] | Other [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | $42,632 | $41,290 |
Loans_and_Leases_Summary_of_Im
Loans and Leases - Summary of Impaired Loans, by Class (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | $79,186 | $81,765 |
Recorded Investment With No Specific Reserve | 64,979 | 66,619 |
Recorded Investment With Specific Reserve | 2,940 | 2,831 |
Total Recorded Investment | 67,919 | 69,450 |
Specific Reserve | 2,181 | 1,179 |
Average Recorded Investment | 69,663 | 75,367 |
Commercial Real Estate [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 34,483 | 34,583 |
Recorded Investment With No Specific Reserve | 25,015 | 25,443 |
Recorded Investment With Specific Reserve | 1,012 | 883 |
Total Recorded Investment | 26,027 | 26,326 |
Specific Reserve | 735 | 399 |
Average Recorded Investment | 26,176 | 30,807 |
Commercial and Industrial [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 11,251 | 11,412 |
Recorded Investment With No Specific Reserve | 8,138 | 7,609 |
Recorded Investment With Specific Reserve | 1,928 | 1,948 |
Total Recorded Investment | 10,066 | 9,557 |
Specific Reserve | 1,446 | 780 |
Average Recorded Investment | 9,811 | 9,510 |
Commercial Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 732 | 722 |
Recorded Investment With No Specific Reserve | 732 | 722 |
Total Recorded Investment | 732 | 722 |
Average Recorded Investment | 727 | 686 |
Total Commercial Loans and Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 46,466 | 46,717 |
Recorded Investment With No Specific Reserve | 33,885 | 33,774 |
Recorded Investment With Specific Reserve | 2,940 | 2,831 |
Total Recorded Investment | 36,825 | 36,605 |
Specific Reserve | 2,181 | 1,179 |
Average Recorded Investment | 36,714 | 41,003 |
Direct Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 13,977 | 14,987 |
Recorded Investment With No Specific Reserve | 13,768 | 14,680 |
Total Recorded Investment | 13,768 | 14,680 |
Average Recorded Investment | 14,343 | 14,248 |
Residential Mortgages [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 15,718 | 16,791 |
Recorded Investment With No Specific Reserve | 14,472 | 15,064 |
Total Recorded Investment | 14,472 | 15,064 |
Average Recorded Investment | 15,547 | 16,924 |
Indirect Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 1,425 | 1,467 |
Recorded Investment With No Specific Reserve | 1,265 | 1,305 |
Total Recorded Investment | 1,265 | 1,305 |
Average Recorded Investment | 1,363 | 1,399 |
Consumer Lines of Credit [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 1,600 | 1,803 |
Recorded Investment With No Specific Reserve | 1,589 | 1,796 |
Total Recorded Investment | 1,589 | 1,796 |
Average Recorded Investment | $1,696 | $1,793 |
Loans_and_Leases_Summary_of_Pa
Loans and Leases - Summary of Payment Status of Total TDRs (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $42,855 | $41,152 |
Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 12,793 | 9,441 |
Non-Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 22,022 | 23,439 |
Non-Accrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $8,040 | $8,272 |
Loans_and_Leases_Summary_of_Tr
Loans and Leases - Summary of Troubled Debt Restructurings by Class of Loans (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 168 | 151 |
Pre-Modification Outstanding Recorded Investment | $2,705 | $2,471 |
Post-Modification Outstanding Recorded Investment | 2,597 | 2,436 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | 312 | 188 |
Post-Modification Outstanding Recorded Investment | 196 | 188 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | |
Pre-Modification Outstanding Recorded Investment | 52 | |
Post-Modification Outstanding Recorded Investment | 50 | |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | 312 | 240 |
Post-Modification Outstanding Recorded Investment | 196 | 238 |
Direct Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 131 | 126 |
Pre-Modification Outstanding Recorded Investment | 1,526 | 1,678 |
Post-Modification Outstanding Recorded Investment | 1,484 | 1,647 |
Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 14 | 9 |
Pre-Modification Outstanding Recorded Investment | 581 | 281 |
Post-Modification Outstanding Recorded Investment | 631 | 280 |
Indirect Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 5 | 7 |
Pre-Modification Outstanding Recorded Investment | 16 | 17 |
Post-Modification Outstanding Recorded Investment | 16 | 16 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 16 | 7 |
Pre-Modification Outstanding Recorded Investment | 270 | 255 |
Post-Modification Outstanding Recorded Investment | $270 | $255 |
Loans_and_Leases_Summary_of_Tr1
Loans and Leases - Summary of Troubled Debt Restructurings by Class of Loans and Leases, Payment Default (Detail) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Contract | Contract | |||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 43 | 19 | ||
Recorded Investment | $303 | [1] | $171 | [1] |
Direct Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 37 | 18 | ||
Recorded Investment | 105 | [1] | 171 | [1] |
Residential Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 2 | |||
Recorded Investment | 102 | [1] | ||
Indirect Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 3 | 1 | ||
Recorded Investment | 4 | [1] | ||
Consumer Lines of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Recorded Investment | $92 | [1] | ||
[1] | The recorded investment is as of period end. |
Allowance_for_Credit_Losses_Ad
Allowance for Credit Losses - Additional Information (Detail) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Receivables [Abstract] | |
Minimum corporation reserves for commercial loan | $500 |
Allowance_for_Credit_Losses_Su
Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses by Loan and Lease Class (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | $125,926 | $110,784 |
Charge- Offs | -6,888 | -7,103 |
Recoveries | 1,325 | 1,532 |
Net Charge- Offs | -5,563 | -5,571 |
Provision for credit losses | 8,136 | 7,006 |
Balance at End of Period | 128,499 | 112,219 |
Originated Loans [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 117,952 | 104,884 |
Charge- Offs | -6,747 | -6,863 |
Recoveries | 976 | 1,246 |
Net Charge- Offs | -5,771 | -5,617 |
Provision for credit losses | 9,066 | 7,856 |
Balance at End of Period | 121,247 | 107,123 |
Acquired Loans [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 7,974 | 5,900 |
Charge- Offs | -141 | -240 |
Recoveries | 349 | 286 |
Net Charge- Offs | 208 | 46 |
Provision for credit losses | -930 | -850 |
Balance at End of Period | 7,252 | 5,096 |
Commercial Real Estate [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 37,588 | 32,548 |
Charge- Offs | -1,001 | -2,223 |
Recoveries | 209 | 299 |
Net Charge- Offs | -792 | -1,924 |
Provision for credit losses | 1,996 | 7,910 |
Balance at End of Period | 38,792 | 38,534 |
Commercial and Industrial [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 32,645 | 32,603 |
Charge- Offs | -684 | -513 |
Recoveries | 120 | 370 |
Net Charge- Offs | -564 | -143 |
Provision for credit losses | 722 | -2,489 |
Balance at End of Period | 32,803 | 29,971 |
Commercial Leases [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 2,398 | 1,903 |
Charge- Offs | -93 | -87 |
Recoveries | 10 | 29 |
Net Charge- Offs | -83 | -58 |
Provision for credit losses | 261 | 99 |
Balance at End of Period | 2,576 | 1,944 |
Total Commercial Loans and Leases [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 72,631 | 67,054 |
Charge- Offs | -1,778 | -2,823 |
Recoveries | 339 | 698 |
Net Charge- Offs | -1,439 | -2,125 |
Provision for credit losses | 2,979 | 5,520 |
Balance at End of Period | 74,171 | 70,449 |
Direct Installment [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 20,538 | 17,824 |
Charge- Offs | -2,433 | -2,521 |
Recoveries | 269 | 267 |
Net Charge- Offs | -2,164 | -2,254 |
Provision for credit losses | 2,830 | 1,060 |
Balance at End of Period | 21,204 | 16,630 |
Residential Mortgages [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 8,024 | 5,836 |
Charge- Offs | -511 | -132 |
Recoveries | 15 | 4 |
Net Charge- Offs | -496 | -128 |
Provision for credit losses | 943 | -401 |
Balance at End of Period | 8,471 | 5,307 |
Indirect Installment [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 7,504 | 6,409 |
Charge- Offs | -1,280 | -802 |
Recoveries | 302 | 217 |
Net Charge- Offs | -978 | -585 |
Provision for credit losses | 1,131 | 676 |
Balance at End of Period | 7,657 | 6,500 |
Consumer Lines of Credit [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 8,496 | 7,231 |
Charge- Offs | -410 | -323 |
Recoveries | 40 | 55 |
Net Charge- Offs | -370 | -268 |
Provision for credit losses | 764 | 695 |
Balance at End of Period | 8,890 | 7,658 |
Other [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 759 | 530 |
Charge- Offs | -335 | -262 |
Recoveries | 11 | 5 |
Net Charge- Offs | -324 | -257 |
Provision for credit losses | 419 | 306 |
Balance at End of Period | 854 | 579 |
Purchased Credit-Impaired Loans [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 660 | 1,000 |
Charge- Offs | -64 | -249 |
Recoveries | 19 | |
Net Charge- Offs | -45 | -249 |
Provision for credit losses | 6 | -43 |
Balance at End of Period | 621 | 708 |
Other Acquired Loans [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 7,314 | 4,900 |
Charge- Offs | -77 | 9 |
Recoveries | 330 | 286 |
Net Charge- Offs | 253 | 295 |
Provision for credit losses | -936 | -807 |
Balance at End of Period | $6,631 | $4,388 |
Allowance_for_Credit_Losses_Su1
Allowance for Credit Losses - Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | $2,181 | $1,179 |
Allowance, Collectively Evaluated for Impairment | 119,066 | 116,773 |
Loans and Leases | 11,404,099 | 11,247,038 |
Loans Outstanding, Individually Evaluated for Impairment | 18,576 | 19,789 |
Loans Outstanding, Collectively Evaluated for Impairment | 9,897,355 | 9,646,356 |
Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 735 | 399 |
Allowance, Collectively Evaluated for Impairment | 38,057 | 37,189 |
Loans and Leases | 3,817,189 | 3,815,708 |
Loans Outstanding, Individually Evaluated for Impairment | 12,865 | 13,952 |
Loans Outstanding, Collectively Evaluated for Impairment | 3,069,520 | 3,017,858 |
Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 1,446 | 780 |
Allowance, Collectively Evaluated for Impairment | 31,357 | 31,865 |
Loans and Leases | 2,397,731 | 2,318,015 |
Loans Outstanding, Individually Evaluated for Impairment | 5,711 | 5,837 |
Loans Outstanding, Collectively Evaluated for Impairment | 2,275,364 | 2,191,956 |
Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 2,576 | 2,398 |
Loans and Leases | 180,207 | 177,824 |
Loans Outstanding, Collectively Evaluated for Impairment | 180,207 | 177,824 |
Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 2,181 | 1,179 |
Allowance, Collectively Evaluated for Impairment | 71,990 | 71,452 |
Loans and Leases | 6,395,127 | 6,311,547 |
Loans Outstanding, Individually Evaluated for Impairment | 18,576 | 19,789 |
Loans Outstanding, Collectively Evaluated for Impairment | 5,525,091 | 5,387,638 |
Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 21,204 | 20,538 |
Loans and Leases | 1,653,621 | 1,644,621 |
Loans Outstanding, Collectively Evaluated for Impairment | 1,594,846 | 1,579,770 |
Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 8,471 | 8,024 |
Loans and Leases | 1,299,097 | 1,263,053 |
Loans Outstanding, Collectively Evaluated for Impairment | 877,437 | 817,586 |
Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 7,657 | 7,504 |
Loans and Leases | 905,204 | 875,551 |
Loans Outstanding, Collectively Evaluated for Impairment | 903,780 | 873,645 |
Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 8,890 | 8,496 |
Loans and Leases | 1,108,418 | 1,110,976 |
Loans Outstanding, Collectively Evaluated for Impairment | 953,569 | 946,427 |
Other [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 854 | 759 |
Loans and Leases | 42,632 | 41,290 |
Loans Outstanding, Collectively Evaluated for Impairment | 42,632 | 41,290 |
Originated Loans [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 9,915,931 | 9,666,145 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 3,082,385 | 3,031,810 |
Originated Loans [Member] | Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 2,281,075 | 2,197,793 |
Originated Loans [Member] | Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 180,207 | 177,824 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 5,543,667 | 5,407,427 |
Originated Loans [Member] | Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,594,846 | 1,579,770 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 877,437 | 817,586 |
Originated Loans [Member] | Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 903,780 | 873,645 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 953,569 | 946,427 |
Originated Loans [Member] | Other [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | $42,632 | $41,290 |
Borrowings_Summary_of_ShortTer
Borrowings - Summary of Short-Term Borrowings (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ||
Securities sold under repurchase agreements | $757,279 | $882,696 |
Federal Home Loan Bank advances | 500,000 | 820,000 |
Federal funds purchased | 355,000 | 210,000 |
Subordinated notes | 128,221 | 128,962 |
Short-term borrowings | $1,740,500 | $2,041,658 |
Borrowings_Summary_of_LongTerm
Borrowings - Summary of Long-Term Borrowings (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank advances | $400,018 | $400,042 |
Subordinated notes | 83,197 | 83,155 |
Junior subordinated debt | 58,259 | 58,246 |
Long-term debt | $541,474 | $541,443 |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Credit available with FHLB | $4,213,966 | |
Credit with FHLB used | 900,018 | |
Federal Home Loan Bank advances are scheduled to mature periodically through the year | 2021 | |
Effective interest rates, minimum | 0.76% | 0.76% |
Effective interest rates, maximum | 4.19% | 4.19% |
Number of unconsolidated subsidiary trusts | 2 | |
Percent of the common equity of each Trust owned by the Corporation | 100.00% | |
TPS Outstanding amount | 58,259 | 58,246 |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of TPS moving from tier 1 capital to tier 2 capital for 2015 | 25.00% | |
TPS Outstanding amount | $57,500 | |
Percentage of TPS moving from tier 1 capital to tier 2 capital for 2016 | 75.00% |
Borrowings_Junior_Subordinated
Borrowings - Junior Subordinated Debt Trusts (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $58,259 | $58,246 |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 57,500 | |
Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 1,779 | |
F.N.B. Statutory Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 22,165 | |
Stated Maturity Date | 15-Jun-36 | |
Interest Rate | 1.92% | |
Description of variable rate | Variable; LIBOR + 165 basis points (bps) | |
Basis points | 1.65% | |
F.N.B. Statutory Trust II [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 21,500 | |
F.N.B. Statutory Trust II [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 665 | |
Omega Financial Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 36,094 | |
Stated Maturity Date | 18-Oct-34 | |
Interest Rate | 2.44% | |
Description of variable rate | Variable; LIBOR + 219 bps | |
Basis points | 2.19% | |
Omega Financial Capital Trust I [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 36,000 | |
Omega Financial Capital Trust I [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $1,114 |
Recovered_Sheet1
Derivative and Hedging Activities - Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | $2,320,750 | $2,215,056 |
Fair value,asset | 57,551 | 45,898 |
Liability | 54,431 | 46,160 |
Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 200,000 | 200,000 |
Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,020,957 | 972,002 |
Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,222,167 | 1,173,212 |
Fair value,asset | 3,982 | 2,296 |
Liability | 54,387 | 45,985 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 200,000 | 200,000 |
Fair value,asset | 3,937 | 2,109 |
Liability | 669 | 2,330 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,020,957 | 972,002 |
Fair value,asset | 6 | 140 |
Liability | 53,718 | 43,655 |
Subject to Master Netting Arrangement [Member] | Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,210 | 1,210 |
Fair value,asset | 39 | 47 |
Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value,asset | 39 | 47 |
Not Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,098,583 | 1,041,844 |
Fair value,asset | 53,569 | 43,602 |
Liability | 44 | 175 |
Not Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,020,957 | 972,002 |
Fair value,asset | 53,569 | 43,602 |
Liability | 5 | 128 |
Not Subject to Master Netting Arrangement [Member] | Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 76,416 | 68,632 |
Not Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,210 | 1,210 |
Liability | $39 | $47 |
Recovered_Sheet2
Derivative and Hedging Activities - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Derivative [Line Items] | |||
Notional amount | $2,320,750 | $2,215,056 | |
Derivative assets | 57,551 | 45,898 | |
Derivative liabilities | 54,431 | 46,160 | |
Interest income | 121,921 | 107,825 | |
Amounts reclassified from accumulated other comprehensive Income | -520 | ||
Additional amount in excess of posted collateral required in case of breached agreements | 2,071 | 1,862 | |
Interest Rate Contracts [Member] | |||
Derivative [Line Items] | |||
Notional amount | 200,000 | 200,000 | |
Period to reclassification of cash flow hedge gain loss | 12 months | ||
Maximum length of time hedged in interest rate cash flow hedge | 9 years | ||
Derivative gains to be reclassified within twelve months | 2,929 | ||
Derivative gains to be reclassified within twelve months, net of tax | 1,904 | ||
Derivative gain or loses excluded from assessment of hedge effectiveness | 0 | ||
Hedge ineffectiveness | 0 | 0 | |
Gains or losses from cash flow hedge derivatives reclassified to earnings | 0 | 0 | |
Interest Rate Contracts [Member] | Amount Reclassified from Other Comprehensive Income [Member] | |||
Derivative [Line Items] | |||
Interest income | 810 | ||
Amounts reclassified from accumulated other comprehensive Income | 526 | ||
Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Notional amount | 1,020,957 | 972,002 | |
Credit Risk Contract Sold [Member] | |||
Derivative [Line Items] | |||
Notional amount | 50,061 | ||
Risk participation agreements, minimum term | 2 years | ||
Risk participation agreements, maximum term | 9 years | ||
Maximum exposure under credit risk agreement assuming customer default | 70 | 21 | |
Trading Assets [Member] | Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Derivative assets | 53,575 | 43,742 | |
Not for Trading Assets [Member] | Interest Rate Contracts [Member] | |||
Derivative [Line Items] | |||
Derivative assets | 3,937 | 2,109 | |
Trading Liabilities [Member] | Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Derivative liabilities | 53,723 | 43,783 | |
Not for Trading Liabilities [Member] | Interest Rate Contracts [Member] | |||
Derivative [Line Items] | |||
Derivative liabilities | $669 | $2,330 |
Derivative_and_Hedging_Activit2
Derivative and Hedging Activities - Offsetting of Derivative Assets (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $57,551 | $45,898 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 57,551 | 45,898 |
Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 3,982 | 2,296 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 3,937 | 2,109 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 3,937 | 2,109 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 6 | 140 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 6 | 140 |
Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 39 | 47 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 39 | 47 |
Not Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 53,569 | 43,602 |
Not Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 53,569 | 43,602 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | $53,569 | $43,602 |
Derivative_and_Hedging_Activit3
Derivative and Hedging Activities - Offsetting of Derivative Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $54,431 | $46,160 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 54,431 | 46,160 |
Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 54,387 | 45,985 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 669 | 2,330 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 669 | 2,330 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 53,718 | 43,655 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 53,718 | 43,655 |
Not Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 44 | 175 |
Not Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 5 | 128 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 5 | 128 |
Not Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 39 | 47 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | $39 | $47 |
Derivative_and_Hedging_Activit4
Derivative and Hedging Activities - Derivative Assets (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $57,551 | $45,898 |
Subject to Master Netting Arrangement [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 3,982 | 2,296 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 1,947 | 995 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 2,035 | 1,301 |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 3,937 | 2,109 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 1,902 | 810 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 2,035 | 1,299 |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 6 | 140 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 6 | 138 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 2 | |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 39 | 47 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 39 | 47 |
Net Amount, Derivative Assets | $0 | $0 |
Derivative_and_Hedging_Activit5
Derivative and Hedging Activities - Derivative Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $54,431 | $46,160 |
Subject to Master Netting Arrangement [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 54,387 | 45,985 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 31,295 | 30,976 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 21,346 | 13,243 |
Net Amount, Derivative Liabilities | 1,746 | 1,766 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 669 | 2,330 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 699 | 2,330 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 53,718 | 43,655 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 30,626 | 28,646 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 21,346 | 13,243 |
Net Amount, Derivative Liabilities | $1,746 | $1,766 |
Derivative_and_Hedging_Activit6
Derivative and Hedging Activities - Effect of Corporation's Derivative Financial Instruments on Income Statement (Detail) (Interest Rate Contracts [Member], Other Income [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest Rate Contracts [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Interest Rate Products | ($107) | ($14) |
Commitments_Credit_Risk_and_Co2
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
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 | $3,969,614 | $3,665,481 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $109,355 | $121,186 |
Commitments_Credit_Risk_and_Co3
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Mar. 31, 2015 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 68.20% |
Stock_Incentive_Plans_Addition
Stock Incentive Plans - Additional Information (Detail) (USD $) | 3 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 16, 2009 | Apr. 06, 2013 | Jan. 01, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted stock awards issued | 0 | 0 | |||
Common stock shares available under incentive compensation plans | 2,122,522 | ||||
Unrecognized compensation cost related to unvested restricted stock awards | $4,509 | ||||
Stock options exercised | 60,094 | 87,332 | |||
Intrinsic value of outstanding and exercisable stock options | 1,890 | ||||
Common shares available for purchase under warrants | 651,042 | ||||
Parkvale Financial Corporation [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued | 819,640 | ||||
Annapolis Bancorp, Inc. [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $3.32 | ||||
Warrant issued | 342,564 | ||||
Warrants converted to purchase common stock | 367,916 | ||||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based compensation expense related to restricted stock awards | 340 | 532 | |||
Tax benefit related to restricted stock awards | 119 | 186 | |||
Total fair value of awards vested | 5,740 | 8,631 | |||
Unrecognized compensation cost related to unvested restricted stock awards | 4,509 | ||||
Amount subject to accelerated vesting under Incentive Compensation Plan | 20 | ||||
Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock options exercised | 60,094 | 59,217 | |||
Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common shares available for purchase under warrants | 1,302,083 | ||||
Warrant Expires In 2019 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $11.52 | ||||
Warrant Expires In 2019 [Member] | Annapolis Bancorp, Inc. [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $3.57 | ||||
Service-Based Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of awards issued, years | 3 years | ||||
Unrecognized compensation cost related to unvested restricted stock awards | 2,659 | ||||
Performance-Based Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of awards issued, years | 3 years | ||||
Unrecognized compensation cost related to unvested restricted stock awards | $1,850 | ||||
Warrant Expires in 2018 [Member] | Parkvale Financial Corporation [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $5.81 | ||||
Market Based Restricted Stock Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted stock percentage of number of units issued | 100.00% |
Stock_Incentive_Plans_Summary_
Stock Incentive Plans - Summary of Information Concerning Restricted Stock Awards (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Awards, Unvested awards outstanding at beginning of period | 1,354,093 | 1,729,033 |
Awards, Net adjustment due to performance | -46,956 | -19,002 |
Awards,Vested | -458,450 | -667,956 |
Awards,Forfeited | -2,357 | -430 |
Awards,Dividend reinvestment | 7,656 | 9,612 |
Awards,Unvested awards outstanding at end of period | 853,986 | 1,051,257 |
Weighted Average Grant Price, Unvested awards outstanding at beginning of period | $11.86 | $10.23 |
Weighted Average Grant Price, Net adjustment due to performance | $10.25 | $8.48 |
Weighted Average Grant Price,Vested | $10.60 | $9.01 |
Weighted Average Grant Price,Forfeited | $17.93 | $10.69 |
Weighted Average Grant Price, Dividend reinvestment | $14.24 | $13.01 |
Weighted Average Grant Price, Unvested awards outstanding at end of period | $12.63 | $11.06 |
Stock_Incentive_Plans_Componen
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) (USD $) | 3 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 853,986 | 1,354,093 | 1,051,257 | 1,729,033 |
Unrecognized compensation expense | $4,509 | |||
Intrinsic value | 11,221 | |||
Weighted average remaining life (in years) | 1 year 9 months 22 days | |||
Service-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 397,593 | |||
Unrecognized compensation expense | 2,659 | |||
Intrinsic value | 5,224 | |||
Weighted average remaining life (in years) | 1 year 10 months 28 days | |||
Performance-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 456,393 | |||
Unrecognized compensation expense | 1,850 | |||
Intrinsic value | $5,997 | |||
Weighted average remaining life (in years) | 1 year 8 months 23 days |
Stock_Incentive_Plans_Summary_1
Stock Incentive Plans - Summary of Information Concerning Stock Option Awards (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Options outstanding at beginning of period | 568,834 | 533,524 |
Shares, Assumed from acquisition | 304,785 | |
Shares, Exercised | -60,094 | -87,332 |
Shares, Forfeited | -2,182 | -48,172 |
Shares, Options outstanding and exercisable at end of period | 506,558 | 702,805 |
Weighted Average Exercise Price, Options outstanding at beginning of period | $8.86 | $11.50 |
Weighted Average Exercise Price , Assumed from acquisition | $5.77 | |
Weighted Average Price per Share, Exercised | $5.04 | $6.05 |
Weighted Average Exercise Price , Forfeited | $4.34 | $25.79 |
Weighted Average Exercise Price , Options outstanding and exercisable at end of period | $9.33 | $8.71 |
Retirement_Plans_Additional_In
Retirement Plans - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | 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% | 100.00% | ||
Employee contribution percentage | 6.00% | 4.00% | ||
Additional automatic contribution increase, percentage | 3.00% | |||
Additional discretionary contribution, performance goals, percentage | 3.00% | 2.00% | ||
Contribution expense of the Corporation | $2,167 | $2,570 |
Retirement_Plans_Net_Periodic_
Retirement Plans - Net Periodic Benefit Credit for Defined Benefit Plans (Detail) (Defined Benefit Plans [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Defined Benefit Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $17 | $16 |
Interest cost | 1,477 | 1,596 |
Expected return on plan assets | -2,491 | -2,487 |
Amortization: | ||
Unrecognized net transition asset | -5 | |
Unrecognized prior service cost | 2 | 2 |
Unrecognized loss | 536 | 337 |
Net periodic pension credit | ($459) | ($541) |
Comprehensive_Income_Component
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Components Of Comprehensive Income [Abstract] | ||
Net income | $40,343 | $34,524 |
Securities available for sale, Unrealized gains arising during the period, net of tax expense of $4,523 and $9,016 | 8,400 | 16,742 |
Securities available for sale, Reclassification adjustment for losses (gains) included in net income, net of tax (benefit) expense of $(3) and $ 3,311 | 6 | -6,150 |
Unrealized gains on derivative instruments arising during the period, net of tax expense of $1,504 and $1,402 | 2,793 | 2,603 |
Reclassification adjustment on derivative instruments for gains included in net income, net of tax expense of $283 and $285 | -526 | -529 |
Unrealized gains on pension and postretirement benefit obligations arising during the period, net of tax expense of $189 and $117 | 350 | 217 |
Other comprehensive income | 11,023 | 12,883 |
Comprehensive income | $51,366 | $47,407 |
Comprehensive_Income_Component1
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Parenthetical) (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Components Of Comprehensive Income [Abstract] | ||
Securities available for sale, Unrealized gains arising during the period, tax expense | $4,523 | $9,016 |
Securities available for sale, Reclassification adjustment for losses (gains) included in net income, tax (benefit) expense | -3 | 3,311 |
Unrealized gains on derivative instruments arising during the period, tax expense | 1,504 | 1,402 |
Reclassification adjustment on derivative instruments for gains included in net income, tax expense | 283 | 285 |
Unrealized gains on pension and postretirement benefit obligations arising during the period, tax expense | $189 | $117 |
Comprehensive_Income_Changes_i
Comprehensive Income - Changes in AOCI, Net of Tax, by Component (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), balance at beginning of period | ($46,003) | |
Other comprehensive income before reclassifications | 11,543 | |
Amounts reclassified from AOCI | -520 | |
Net current period other comprehensive income | 11,023 | 12,883 |
Accumulated other comprehensive income (loss), balance at end of period | -34,980 | |
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 | -440 | |
Other comprehensive income before reclassifications | 8,400 | |
Amounts reclassified from AOCI | 6 | |
Net current period other comprehensive income | 8,406 | |
Accumulated other comprehensive income (loss), balance at end of period | 7,966 | |
Unrealized Net Gains (Losses) on Derivative Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), balance at beginning of period | -143 | |
Other comprehensive income before reclassifications | 2,793 | |
Amounts reclassified from AOCI | -526 | |
Net current period other comprehensive income | 2,267 | |
Accumulated other comprehensive income (loss), balance at end of period | 2,124 | |
Unrecognized Pension and Postretirement Obligations [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), balance at beginning of period | -45,420 | |
Other comprehensive income before reclassifications | 350 | |
Net current period other comprehensive income | 350 | |
Accumulated other comprehensive income (loss), balance at end of period | ($45,070) |
Earnings_Per_Common_Share_Comp
Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share [Abstract] | ||
Net income | $40,343 | $34,524 |
Less: Preferred stock dividends | 2,010 | 2,322 |
Net income available to common stockholders | $38,333 | $32,202 |
Basic weighted average common shares outstanding | 174,152,283 | 162,186,395 |
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,673,693 | 1,780,851 |
Diluted weighted average common shares outstanding | 175,825,976 | 163,967,246 |
Basic | $0.22 | $0.20 |
Diluted | $0.22 | $0.20 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Common stock excluded from computation of diluted earnings per share | 24,272 | 51,641 |
Cash_Flow_Information_Summary_
Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Cash Flows [Abstract] | ||
Interest paid on deposits and other borrowings | $11,626 | $10,576 |
Income taxes paid | 0 | 0 |
Transfers of loans to other real estate owned | 1,965 | 4,849 |
Financing of other real estate owned sold | $166 |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
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 | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | |||
Interest income | $133,369 | $117,880 | |
Interest expense | 11,448 | 10,055 | |
Net interest income | 121,921 | 107,825 | |
Provision for credit losses | 8,136 | 7,006 | |
Non-interest income | 38,182 | 42,070 | |
Non-interest expense | 92,540 | 91,883 | |
Intangible amortization | 2,115 | 2,283 | |
Income tax expense (benefit) | 16,969 | 14,199 | |
Net income (loss) | 40,343 | 34,524 | |
Total assets | 16,278,848 | 14,476,510 | 16,127,090 |
Total intangibles | 875,246 | 856,812 | |
Operating Segments [Member] | Community Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 122,118 | 106,691 | |
Interest expense | 9,941 | 8,248 | |
Net interest income | 112,177 | 98,443 | |
Provision for credit losses | 6,327 | 5,296 | |
Non-interest income | 27,301 | 31,913 | |
Non-interest expense | 77,079 | 76,866 | |
Intangible amortization | 1,947 | 2,110 | |
Income tax expense (benefit) | 15,931 | 13,343 | |
Net income (loss) | 38,194 | 32,741 | |
Total assets | 16,100,851 | 14,299,543 | |
Total intangibles | 852,764 | 833,642 | |
Operating Segments [Member] | Wealth Management [Member] | |||
Segment Reporting Information [Line Items] | |||
Non-interest income | 8,387 | 7,323 | |
Non-interest expense | 6,493 | 6,292 | |
Intangible amortization | 68 | 72 | |
Income tax expense (benefit) | 658 | 351 | |
Net income (loss) | 1,168 | 608 | |
Total assets | 21,125 | 19,542 | |
Total intangibles | 10,652 | 10,936 | |
Operating Segments [Member] | Insurance [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 23 | 25 | |
Net interest income | 23 | 25 | |
Non-interest income | 3,593 | 4,210 | |
Non-interest expense | 4,170 | 3,046 | |
Intangible amortization | 100 | 101 | |
Income tax expense (benefit) | -226 | 385 | |
Net income (loss) | -428 | 703 | |
Total assets | 18,464 | 19,954 | |
Total intangibles | 10,021 | 10,425 | |
Operating Segments [Member] | Consumer Finance [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 9,593 | 9,365 | |
Interest expense | 860 | 846 | |
Net interest income | 8,733 | 8,519 | |
Provision for credit losses | 1,574 | 1,457 | |
Non-interest income | 676 | 660 | |
Non-interest expense | 4,808 | 4,937 | |
Income tax expense (benefit) | 1,149 | 1,073 | |
Net income (loss) | 1,878 | 1,712 | |
Total assets | 182,662 | 182,018 | |
Total intangibles | 1,809 | 1,809 | |
Parent and Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 1,635 | 1,799 | |
Interest expense | 647 | 961 | |
Net interest income | 988 | 838 | |
Provision for credit losses | 235 | 253 | |
Non-interest income | -1,775 | -2,036 | |
Non-interest expense | -10 | 742 | |
Income tax expense (benefit) | -543 | -953 | |
Net income (loss) | -469 | -1,240 | |
Total assets | ($44,254) | ($44,547) |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Securities | Securities | ||
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 securities transferred between hierarchy levels | 0 | 0 | |
Impaired loans, carrying amount | 67,919 | 69,450 | |
Allocated allowance for loan losses | 2,181 | ||
Fair value of allocated allowance | 883 | ||
Estimated costs to sell | 124 | ||
Provision for fair value measurements included in allowance for loan losses | 1,002 | ||
Carrying amount of OREO | 2,501 | ||
Written down of OREO | 2,140 | ||
Fair value of OREO | 2,410 | ||
Estimated cost to sell OREO | 270 | ||
Loss from OREO included in earnings | 361 | ||
Short-term borrowings approximate fair value for amounts that mature, days, less than | 90 days | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements Disclosure [Line Items] | |||
Impaired loans, carrying amount | 2,940 | ||
Allocated allowance for loan losses | 883 | 1,705 | |
Fair value of OREO | 2,410 | 8,060 | |
Assets Still Held [Member] | |||
Fair Value Measurements Disclosure [Line Items] | |||
Change in unrealized gains or losses included in earnings relating to assets still held | $0 | $0 |
Fair_Value_Measurements_Balanc
Fair Value Measurements - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | $1,537,080 | $1,534,065 |
Derivative financial instruments | 57,551 | 45,898 |
Derivative financial instruments | 54,431 | 46,160 |
U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 29,937 | 29,682 |
U.S. Government-Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 390,660 | 337,133 |
Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 572,017 | 573,171 |
Assets measured at fair value, Available for sale securities | 572,017 | |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,364 | 1,431 |
Assets measured at fair value, Available for sale securities | 1,364 | |
Commercial Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 6,843 | 7,880 |
Assets measured at fair value, Available for sale securities | 6,843 | |
States of the U.S. and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 13,175 | 13,158 |
Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 16,231 | 16,178 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | 212 | 218 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | 1,535,079 | 1,531,952 |
Derivative financial instruments | 57,551 | 45,898 |
Derivative financial instruments | 54,431 | 46,160 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | 1,789 | 1,895 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,535,788 | 1,532,718 |
Assets measured at fair value, Available for sale equity securities | 1,292 | 1,347 |
Assets measured at fair value, Available for sale securities | 1,537,080 | 1,534,065 |
Derivative financial instruments | 57,551 | 45,898 |
Assets measured at fair value, Total | 1,594,631 | 1,579,963 |
Liabilities measured at fair value, Total | 54,431 | 46,160 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 29,937 | 29,682 |
Fair Value, Measurements, Recurring [Member] | U.S. Government-Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 390,660 | 337,133 |
Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 572,017 | 573,171 |
Fair Value, Measurements, Recurring [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,364 | 1,431 |
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 6,843 | 7,880 |
Fair Value, Measurements, Recurring [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 13,175 | 13,158 |
Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 16,231 | 16,178 |
Fair Value, Measurements, Recurring [Member] | Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 505,561 | 554,085 |
Fair Value, Measurements, Recurring [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 1,171 | 1,228 |
Fair Value, Measurements, Recurring [Member] | Insurance Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 121 | 119 |
Fair Value, Measurements, Recurring [Member] | Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 53,614 | 43,789 |
Fair Value, Measurements, Recurring [Member] | Not for Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 3,937 | 2,109 |
Fair Value, Measurements, Recurring [Member] | Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 53,762 | 43,830 |
Fair Value, Measurements, Recurring [Member] | Not for Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 669 | 2,330 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 212 | 218 |
Assets measured at fair value, Available for sale securities | 212 | 218 |
Assets measured at fair value, Total | 212 | 218 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 91 | 99 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Insurance Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 121 | 119 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,534,434 | 1,531,298 |
Assets measured at fair value, Available for sale equity securities | 645 | 654 |
Assets measured at fair value, Available for sale securities | 1,535,079 | 1,531,952 |
Derivative financial instruments | 57,551 | 45,898 |
Assets measured at fair value, Total | 1,592,630 | 1,577,850 |
Liabilities measured at fair value, Total | 54,431 | 46,160 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 29,937 | 29,682 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Government-Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 390,660 | 337,133 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 572,017 | 573,171 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 10 | 11 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 6,843 | 7,880 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 13,175 | 13,158 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 16,231 | 16,178 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 505,561 | 554,085 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 645 | 654 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 53,614 | 43,789 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not for Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 3,937 | 2,109 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 53,762 | 43,830 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not for Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 669 | 2,330 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,354 | 1,420 |
Assets measured at fair value, Available for sale equity securities | 435 | 475 |
Assets measured at fair value, Available for sale securities | 1,789 | 1,895 |
Assets measured at fair value, Total | 1,789 | 1,895 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,354 | 1,420 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | $435 | $475 |
Fair_Value_Measurements_Additi1
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | $1,895 | $33,749 |
Total gains (losses) - realized/unrealized, Included in earnings | 13,766 | |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | -52 | 5,676 |
Accretion included in earnings | 1 | 662 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | -51,527 | |
Settlements | -55 | -431 |
Transfers from Level 3 | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 1,789 | 1,895 |
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 | |
Total gains (losses) - realized/unrealized, Included in earnings | 13,766 | |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 5,608 | |
Accretion included in earnings | 657 | |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | -51,527 | |
Settlements | -99 | |
Transfers from Level 3 | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 475 | 410 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | -40 | 65 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Transfers from Level 3 | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 435 | 475 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 1,420 | 1,744 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | -12 | 3 |
Accretion included in earnings | 1 | 5 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Settlements | -55 | -332 |
Transfers from Level 3 | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | $1,354 | $1,420 |
Fair_Value_Measurements_Additi2
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $2,181 | |
Other real estate owned | 2,410 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 883 | 1,705 |
Other real estate owned | 2,410 | 8,060 |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 190 | 177 |
Other real estate owned | 977 | 5,695 |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 693 | 1,528 |
Other real estate owned | $1,433 | $2,365 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $234,246 | $287,393 | $246,253 | $213,981 |
Securities available for sale | 1,537,080 | 1,534,065 | ||
Securities held to maturity | 1,513,204 | 1,453,355 | ||
Securities held to maturity | 1,536,449 | 1,468,258 | ||
Derivative assets | 57,551 | 45,898 | ||
Deposits | 11,806,043 | 11,382,208 | ||
Short-term borrowings | 1,740,500 | 2,041,658 | ||
Long-term borrowings | 541,474 | 541,443 | ||
Derivative liabilities | 54,431 | 46,160 | ||
Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 234,246 | 287,393 | ||
Securities available for sale | 1,537,080 | 1,534,065 | ||
Securities held to maturity | 1,536,449 | 1,468,258 | ||
Net loans and leases, including loans held for sale | 11,119,711 | 10,956,544 | ||
Derivative assets | 57,551 | 45,898 | ||
Accrued interest receivable | 41,935 | 40,231 | ||
Deposits | 11,812,401 | 11,382,402 | ||
Short-term borrowings | 1,740,499 | 2,041,672 | ||
Long-term borrowings | 541,955 | 539,007 | ||
Derivative liabilities | 54,431 | 46,160 | ||
Accrued interest payable | 6,511 | 6,689 | ||
Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 234,246 | 287,393 | ||
Securities available for sale | 1,537,080 | 1,534,065 | ||
Securities held to maturity | 1,513,204 | 1,453,355 | ||
Net loans and leases, including loans held for sale | 11,280,221 | 11,127,292 | ||
Derivative assets | 57,551 | 45,898 | ||
Accrued interest receivable | 41,935 | 40,231 | ||
Deposits | 11,806,043 | 11,382,208 | ||
Short-term borrowings | 1,740,500 | 2,041,658 | ||
Long-term borrowings | 541,474 | 541,443 | ||
Derivative liabilities | 54,431 | 46,160 | ||
Accrued interest payable | 6,511 | 6,689 | ||
Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 234,246 | 287,393 | ||
Securities available for sale | 212 | 218 | ||
Accrued interest receivable | 41,935 | 40,231 | ||
Deposits | 9,217,159 | 8,771,173 | ||
Short-term borrowings | 1,740,499 | 2,041,672 | ||
Accrued interest payable | 6,511 | 6,689 | ||
Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 1,535,079 | 1,531,952 | ||
Securities held to maturity | 1,532,588 | 1,463,945 | ||
Derivative assets | 57,551 | 45,898 | ||
Deposits | 2,595,242 | 2,611,229 | ||
Derivative liabilities | 54,431 | 46,160 | ||
Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 1,789 | 1,895 | ||
Securities held to maturity | 3,861 | 4,313 | ||
Net loans and leases, including loans held for sale | 11,119,711 | 10,956,544 | ||
Long-term borrowings | $541,955 | $539,007 |